NJ Real Estate Lawyers

Real Estate Closings

During the closing, you will have several people in the room, and most buyers do not have an attorney present. They rely on the title company. This is a mistake. A real estate attorney can review the contract to ensure all the Ts are crossed and are dotted. Title companies are not there to protect your rights; only an attorney familiar with New Jersey real estate law can do that.

Real Estate Offers

Real estate lawyers do not only work with buyers but also with sellers. You need to be protected when selling your property, and only an attorney can do that, as real estate companies do not. 

The list above should give you some idea as to the many legal issues that can arise (often unexpectedly) within the unpredictable world of real estate. In fact, these are but a few of the concerns we handle on behalf of our clients all the time.

Common New Jersey Real Estate Law

There are a few common laws to keep in mind when purchasing a property. The first is the Homestead Laws, which actually come from the federal government. It allows homeowners who are facing foreclosure or eviction to continue living in their homes if they meet certain criteria. You may need a New Jersey real estate lawyer to discuss what these circumstances are.

Next, we have the adverse possession law, which allows a person who publicly occupies a home and makes improvements to that home to obtain a title to the property. Our last most common New Jersey real estate law is a lease and rental agreement. These are quite complex, and when forming a tenant-landlord relationship, it is crucial to read every aspect of the agreement. 

Things You Don’t Know About NJ Real Estate Law

This might include:

When you sign your contract, there is a three-day period in which your attorney can review the contract and ensure that everything is in your best interest. They can also reject it if there are things that do not benefit you. Although there is a three-day period, it can span over a week or be as quick as one day, depending on the circumstances.

Get Contingencies in Writing

There are various contingencies that can be placed in a contract. This can be a home inspection, the buyer getting a mortgage, or the title being cleared. NJ real estate law has ways to protect both buyers and sellers, but it is important to know what they are and how they apply to you.

Protected Wetlands

Do your research because if your property is on a protected wetland, your entire sale can be put to a halt.

Purchasers Property Survey

A property survey is a crucial part of the buying and selling process. It not only clarifies property lines but also driveways.

You cannot rely on the existing property survey because, depending on the date, it may not be current. Under NJ real estate law, you have the right to seek your own property survey.

Oil Tank Inspection

Most homes do not have oil tanks, and in other cases, the current homeowners are not aware that there is one on the property. An attorney can ensure the status of the oil tank so your home-buying experience doesn’t turn into a nightmare.

Home Inspection

Inspections are important in all aspects of the home-buying process. Have an inspector check the entire property.

Title Insurance

There will be various types of insurance you will have to decide on throughout your life, and title insurance is one of those.

Make sure you make the right choice when it comes to insurance. This will involve reviewing policies before making a final decision.

Property Negotiations

Our team of NJ real estate lawyers can also handle the following when negotiating with the seller of a property or when drafting a purchase offer:

• You want to include an escalation clause, which gives you the right to match any offer from other prospective buyers
• You want to create an arrangement with the seller that permits you to rent the home for a specified period before agreeing to purchase the home
• The seller permits you to move some of your items into the home prior to closing, but you need to determine what happens if your property winds up being damaged
• You want to ensure that the current resident of the home will vacate the property prior to the closing date
• You will permit the seller to remain in the home for a specified period after closing, and you want to ensure that you receive fair rent from the seller
• There have been legal claims filed against the property that you’d like to have resolved prior to closing
• There are issues that appear in the title search. For example, the driveway is shared with the house next door, but it does not show this on the title itself
• Easements can be difficult to understand and are often agreed upon between property owners. A NJ real estate lawyer can find out if any easements are present and how they would affect you as the new owner, and it would be important to obtain the easement in writing

Property Types

Whether your property is for purchase or sale — for business or pleasure — we can help. We’re here to assist with any kind of New Jersey real estate, including:

• Residential housing
• Commercial property
• Government property
• Condominiums
• Mixed-use facilities
• Homeowners Associations (HOAs)
• Much more

Buying a Bank-Owned Property

What should you do if you purchase a bank-owned property? Whether it’s a commercial or residential property, you should always hire a NJ real estate lawyer to help with the purchase of such a property. 

In fact, the bank will likely require that you hire a real estate attorney when you purchase a property owned by the entity. If the bank doesn’t require an attorney, your lender or title company could very well require an attorney to help with the title search and other important areas of the transaction.

Have You Filed for Bankruptcy?

Did you file for bankruptcy? If so, it’s in your best interest to consult a NJ real estate lawyer before making an offer on a commercial or residential property. The same can be said if you have had a judgment filed against you. 

These are two serious financial issues that should be dealt with delicately when trying to buy a property. An attorney will be able to guide you through the difficult waters of buying property after filing for bankruptcy.

Various Issues with Properties

A NJ real estate lawyer can also assist with the sale of a property that is named in an estate. It can be challenging to sell a home or commercial property that is held in the estate of a deceased family member. An attorney will be able to assist with such a difficult task so you can focus on other areas of your life.

An attorney will also be able to help with the sale or purchase of property that is located in an area that is prone to natural disasters, such as tornado alley or areas highly likely to be hit by hurricanes. 

Properties that have a termite infestation, an infestation of another insect, or high lead levels should be dealt with by an attorney.

Frequently Asked Questions

How Long Does a Typical Real Estate Closing Take in New Jersey?

The timeline for closing on a property in New Jersey often ranges from 30 to 60 days, depending on factors like mortgage approvals, property inspections, and municipal requirements. Some transactions in Morris County may require additional time for local permits or certificates.

What should I do if a real estate deal falls through?

Can a real estate lawyer help with landlord-tenant matters?

Who Pays the New Jersey Realty Transfer Fee?

Sellers are generally responsible for paying the New Jersey Realty Transfer Fee at closing. The exact amount can vary based on the property's sale price and applicable local or state exemptions.

Contact Our NJ Real Estate Attorneys Today

There are many other aspects that go into buying and selling property that should be discussed with an attorney. DeZao & DeZao, P.C. can guide you through any type of real estate issue you require.

If you are ready to enter the real estate market but want to proceed with confidence, schedule a consultation with a Parsippany real estate lawyer at DeZao & DeZao, P.C.. To get started, call (973) 358-6134 now—or use our quick-connect form online. Our firm serves clients throughout Morris, Essex, Bergen and Passaic counties, and the entire state of New Jersey.

Real estate law is complex. Buying property is stressful enough on its own. Do not let the other party take advantage of you. Hire an experienced real estate lawyer to help with your property purchase today.

Call our office at (973) 358-6134 or visit our contact page to schedule a consultation today with our NJ real estate lawyers.