There are many factors to consider when selling your home. Once a buyer offers you a satisfying bid, you should retain an attorney as soon as possible. The right attorney will work to protect your rights and ensure that your interests are met through the process. Though it may seem overwhelming, selling your home can be a manageable process with the right representation. Below is a very basic outline of the process. There are countless factors that can impact the sale of your home. If you need a committed attorney that will zealously represent your needs throughout the process of selling your home, contact Juan C. Velasco, Esq.
The Contract- When you have an offer you wish to accept, you will enter into a contract. You will review the contract and see if the terms are acceptable. If they are not, you may want to request changes or deny the offer altogether. It is important to have an attorney review the contract before you sign anything. If the contract is written by a realtor, the contract must include the addition of a 3-day review provision. If a realtor did not write the contract, the signing makes the document binding immediately.
The 3-Day Attorney Review- When selling a home when a realtor drafts the contract, the contract will have the addition of the 3-day review. Both parties will sign the contract. Each party will have 3 business days to review the terms with an attorney. During this time, the parties may request changes to the terms or terminate the agreement. Once each party is happy with the contract, they will sign an addendum, making the contract binding.
The Home Inspection- Usually, within 10 days of signing the contract, the buyer will have the chance to have a professional home inspector assess the property. You may be requested to fix issues that you nor the other party knew about when signing the contract. It is in your best interests to have an attorney review the requests and protect your rights.
The Closing- The closing is the culmination of everything thus far. Contingent on the buyer getting a mortgage, if needed, all outstanding issues should have been addressed and fulfilled by this point. The closing is where you will hand over the keys in exchange for the money. Before this can happen, the buyer will have one more chance to inspect the house for any changes since the home inspection. At the closing, both parties will be ready to sign the necessary documents, authorizing the purchase and sale of the home and transferring the title of the property. This is when the keys are exchanged and the contract comes to a successful close.
Juan C. Velasco, Esq. is a knowledgeable and skilled attorney with over 25 years of experience guiding New Jersey clients through real estate legal matters. If you are selling your home, you should have an attorney that can effectively represent your interests and ensure that your rights are protected through the process. There are many factors that can impact and even stop the sale of your home. Having the right attorney is important. If you need a dedicated attorney, contact Velasco Law Office today.