Residential & Commercial Real Estate Attorney in Woodbridge, New Jersey
Buying and selling real estate is an exciting undertaking, but not one that’s without its worries. Whether you’re embarking on a residential or commercial real estate transaction, you need a basic understanding of the laws to protect yourself and ensure you’re entering into a fair contract.
I’ve been practicing law for over four decades and have dedicated my practice at Adams, Cassese & Papp L.L.C. to providing personalized legal counsel so you can make informed decisions. If you’re located in or around Woodbridge, New Jersey, or the surrounding areas of Sayreville, Perth Amboy, or Edison, call me today to talk about your real estate goals or concerns.
Commercial Transactions in New Jersey
Commercial transactions typically require a much larger investment by both the buyer and the seller, meaning both parties have a lot to gain and lose. By hiring a real estate attorney, you can ensure you’re going into the agreement with the safeguards and assurances you need. First, they can help with due diligence on the other party, investigating their finances and business standings. Second, they can assist with contract negotiation, including drafting and reviewing, so you know exactly what you’re signing. Lastly, they can help with any regulatory issues at the state or federal level, including zoning and permitting requirements.
An experienced real estate attorney can also assist with any issues that come up during or after the purchase, such as a construction dispute, commercial real estate litigation, or tax issues.
You won’t always need an attorney when buying or selling residential real estate, but that doesn’t mean that you can’t benefit from consulting with one. And, in many cases, it will be worth the extra investment to know that the contract you’re entering into has been thoroughly investigated by a professional.
The Selling Process
The first thing you need when selling is a good realtor you can trust. An experienced, local realtor will have comprehensive knowledge of the local market and can help position your home for the optimal selling price.
You should also consider having an attorney on hand to review potential contracts. This is what’s known as the “attorney review period,” and you have three days to complete this after receiving a contract. If you accept the offer, you can also use your attorney as your escrow agent to hold the down payment until the deal is complete.
You may also wish to hire a land surveyor to locate the boundaries of the property. Finally, you’ll need a title insurance company that can be retained by your attorney.
The Buying Process
If you’re buying residential real estate, the first step is to meet with a lender or broker and obtain pre-approval for a loan. You can then start working with a realtor to begin looking at houses. Note that most realtors won’t start working with a client until they’ve been preapproved.
Once you find a home you like and put in an offer, you’ll need to have a home inspector perform a thorough assessment. This is a crucial step that ensures you’re getting your money’s worth and that there are no current or future concerns with the property. It’s after this step that your attorney can perform a review and help negotiate on your behalf and settle any issues. Lastly, you’ll need to obtain homeowners insurance before the final sale can go through.
Residential and Commercial Disputes
In any business transaction, there’s the potential for disputes to occur. This won’t always mean that your contract will fall through, but it does mean you need legal assistance to protect your interests. An attorney can negotiate on your behalf, review contracts, address local or state ordinances that may be at the heart of the issue, and resolve title issues or boundary disputes.
Residential and Commercial Real Estate Attorney Serving Woodbridge, New Jersey
Having legal representation during a real estate transaction can give you peace of mind and make sure your contracts are sound. If you’re thinking about buying or selling property in the near future and are in the Woodbridge, New Jersey area, call me at Adams, Cassese & Papp L.L.C. to schedule a consultation.