We Understand The Ins And Outs Of Real Estate Law
Buying or selling real estate in New Jersey usually involves more than simply signing a contract. Each step in the process often depends on having the right legal documents prepared and reviewed. Having a clear idea of which documents are needed may help reduce delays or complications as the deal...
When someone says that a piece of real property has a “clear title,” they mean that the ownership of that property is free of any legal issues, liens and other concerns that immediately provide grounds upon which title disputes could be filed. A clear title is important for buyers, sellers...
When real estate changes hands in New Jersey, certain disclosures must be made by the seller. The buyer has a legal right to understand what they’re buying, and any material defects will need to be disclosed in advance. It is important to note that a seller only has to disclose...
Buying or selling real estate is always an exciting milestone, but it often comes with a fair share of questions and concerns. For instance, since many states now require legal representation for real estate transactions, you may wonder if it is a requirement in New Jersey. While the Garden State...
People preparing for a real estate transaction need to go over their paperwork carefully. Frequently, buyers don’t spend much time reviewing deeds or mortgage notes prior to signing them. However, they may look over the details included on their final financial settlement statement very closely. The final settlement statement provided...
Some things in life provide the “you’ll know it when you see it” feeling. Just ask any woman who has shopped for a wedding dress. You also get that sensation when you find the perfect house. It’s hard to contain your excitement when making an offer, but it’s essential to...
It can take a long time to find a house you like in an area you like that is also within your budget. Once you find one, you may be keen to sign on the line and make it yours before someone else makes it theirs. Before you proceed, it...
If you’ve ever been involved in buying a home, you’ve probably heard about earnest money – which is basically a good-faith deposit that you put down to show the seller that you’re serious about your offer. Depending upon your market (and how much of a competitive edge you’re trying to...
Buying a home is an exciting journey, but it is also associated with a mountain of daunting paperwork and legal responsibilities. In New Jersey, real estate transactions are regulated by strict laws, and making sure that all paperwork is accurate and complete is crucial. Failure to meet these requirements can...
As you likely recognize, real estate transactions in New Jersey can be complex. If a title dispute arises, the complexities can increase. These disputes can delay or even derail a transaction, making it crucial to understand potential title disputes and how to address them. Here are some examples. Boundary disagreements...
Conducting a title search is one of the most important steps when buying a home. You don’t want unpleasant surprises after purchasing the property, such as unresolved ownership claims, boundary disputes, unpaid taxes or liens. A title search involves examining public records related to the property, like deeds, mortgages, tax...
Home staging involves decorating a property to make it more appealing to potential buyers. Professional stagers use furniture, artwork and accessories to create a welcoming atmosphere and highlight the home’s best features to would-be buyers It’s easy to get captivated by a beautifully staged property when searching for your dream...
When someone buys real estate in New Jersey, what they technically purchase is the title to the property. A home’s title indicates who currently has ownership rights and control over the property. There can be title defects that impact someone’s use and ownership of a property, such as easements or...
While you’re reviewing, initialing and signing the seemingly endless documents involved in a real estate transaction, you may give little thought to the commission that the selling real estate agent gets for their work. Many people have no idea whether it’s reasonable or not. They just consider it part of...
If you’re a first-time home buyer, it may seem rather surprising to offer someone such a substantial sum of money. When you put in your offer on a house, it’s probably more money than you have spent on one item in your life. Most buyers can’t even afford to do...
Before finalizing the purchase of a house, it’s crucial to conduct a walkthrough. A walkthrough serves as a final inspection, allowing buyers to ensure that a property meets their expectations and is in as-promised condition. Skipping this step in the purchasing process can lead to unforeseen issues and regrets down...
With both residential and commercial properties, a property inspection is an important part of the transaction process. Many buyers will use a contingency clause saying that they can walk away from the deal if the property fails that inspection. They do not want to risk making a binding offer without...
There are many benefits to buying a home from an estate. The personal representative conducting the transaction will likely have less of an emotional attachment to the property than someone who lives there full-time. There is often pressure to complete a sale as quickly as possible, as homes that sit...
Home buyers often benefit from hiring inspectors. Inspectors evaluate homes for major issues that could create problems for buyers in the future. Essentially, a home inspector helps buyers from purchasing homes they later regret. Home inspectors often do thorough examinations of homes. Here’s what they may find: 1. Weathering and...
For a short time, there was a trend where buyers would write love letters about homes that they wanted to purchase. They would then give these letters to the owners of the homes, along with their offer. The basic idea was just that the person who wanted to buy would...
Digital technology allows you to do many things entirely online. You can shop for groceries, purchase eyeglasses or make valuable investments without leaving your home. Online technology may even allow you to purchase a new home with little or no face-to-face contact with any of the involved parties. Buying a...
Contingency clauses are often used when people make an offer on a home. A potential buyer will put different stipulations on that offer. These have to be met in order for the offer to stand. An example of this is when there is a contingency regarding a home inspection. The...
When you find your dream home and resolve to purchase it, you need to get everything right from the word go. After all, you are looking for a sanctuary for your family. But before signing the sale agreement, it is in your best interest that you exercise certain due diligence....
You may be considering buying a new home, and perhaps you’re thinking about getting one with a rental property. An example of this could be a duplex. You and your family could live in one side of the duplex while you rent out the other side of the property. There...
You’re ready to sell your home – but there’s an involuntary lien on it that you know is going to cause problems. It could be a tax lien, a judgment lien from an old debt or a contractor’s lien that’s leftover from a construction dispute. You’re afraid that will prove...
Local demand, interest rates and even recent history in a specific neighborhood can all influence what property is worth on the real estate market. Sellers try to get the maximum price for their property when listing their homes or investment holdings, while buyers want the most reasonable price for the...
The dream of homeownership should be available to everyone in New Jersey, regardless of race, color or national origin. But the reality for many people of color is that they often face discrimination when trying to buy or sell a home. One version of this frequently happens at the appraisal...
After months of more demand than supply and frequent bidding wars, the real estate market in New Jersey has started to shift. With the increase in interest rates has come a drop in buyers wanting to get to the closing table. Some sellers now find themselves in the awkward position...
If you have ever completed the mountain of paperwork necessary to buy a house, you may wonder how on earth a place can end up with title issues. Surely all that is needed is for sellers and buyers to sign, and the proof of transfer of ownership will be clear?...
House prices are soaring, and mortgage companies are scrutinizing buyers harder than ever before. You need great credit, a lot of money to put down and extra cash for all appraisals and other “extra” costs of purchasing a home. When you’re paying more for rent every month than you would...
Contingency clauses are legal devices people use when buying and selling property, giving them a reason to break the contract. These contingency clauses can take on many forms. For example, one of the most common contingency clauses is that the sale is dependent on the buyer securing financing. When the...
Closing a successful home sale and getting the best price for your investment is every seller’s dream. In New Jersey, as is the case across many states, low inventory and eager buyers have seen property prices soar in recent times. If you’re thinking about selling, it’s a great time to...
Real estate investing is a potentially lucrative and rewarding undertaking, but mistakes can turn profit to loss in a hurry. Forbes has recently explored some of the most common real estate investment mistakes and offered advice on how to avoid them. This information can serve as important guidance for novice...
