Why You Should Never Sleep During Attorney Review
Categories: For Buyers, Legal Matters
When you buy real estate in Hoboken, be it a condo or a house, there is a particular order of events that typically takes place. Basically, you get your pre-qualification letter from a mortgage broker or bank, find your dream home, the seller accepts your offer and your realtor, if he or she is a competent agent, prepares a sales contract for you to sign. Wait! Agent’s aren’t lawyers! True – but the NJ Association of Realtors provides a standard-form sales contract that realtors routinely use as the starting point for your deal.
You go home and celebrate and start making moving and decorating plans. But – after you and the seller have both signed the sales contract it gets circulated to your attorney and the seller’s attorney and what is called “attorney review” begins. What exactly does that mean? Read on.
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