If you are looking to sell your home, you most likely have several questions. That is why below, our experienced New Jersey real estate attorney has composed an outline of the home selling process. Please read on and reach out to our firm to learn more about how we can help:
Though every situation is unique, there are several aspects that are essentially always a part of selling a home. The first is the contract. Once a buyer offers you a satisfying bid, you will enter into a contract proposed by the buyer and their attorney. That being said, you may either accept the offer, counter-offer the buyer, or reject their offer altogether. Sometimes, it can be difficult to determine whether the buyer is making a fair deal, which is why it is always best to have an experienced real estate attorney review your contract before signing. Additionally, if a realtor drafted the contract, it will undergo a 3-day review provision. If the contract was drafted by an attorney, however, the signing will automatically be binding.
The 3-day review essentially gives you, the seller, a chance to review the contract proposed with your attorney. This, however, is your last chance to request any changes to the contract, or even to reject the contract altogether. Once you and the buyer agree on the terms of your contract, you will sign an addendum, which makes the contract binding.
From here, the buyer will generally hire a home inspector to assess your property. The inspector will check for various safety/health risks, including radon, mold, asbestos, leaks, pest infestations, and more. After the inspection, the buyer may ask you to fix or repair certain issues, or they may even ask for a monetary credit. Do not do so without first consulting an experienced attorney.
Finally, once the home inspection has been conducted and both parties are ready for the final step, you can now close on your house. This is where you hand the buyer the keys to your home in exchange for the sale on the house. From here, an attorney will help you sign all necessary documents, authorize the purchase, and transfer the title of the property.
Juan C. Velasco, Esq. is a trusted attorney who concentrates on bankruptcy, family law, real estate, and estate matters who has been serving the New Jersey area for over 25 years. That is why we are confident we have what it takes to provide you with the effective legal counsel you need. If you need experienced legal counsel, please contact Velasco Law Office and we will be happy to assist you.