Any time a real estate transaction is happening in your life, it means a new chapter is starting. 2020 was a monumental year for real estate. Home prices surged, with median sale prices going up 19%, according to the National Association of Realtors. Whether you are buying, leasing, or selling a home, knowing your rights is important. That is how a knowledgeable real estate attorney can help.
At the Hudson Law Firm, we serve clients in Union City, New Jersey, as well as the neighboring areas of Jersey City, Bayonne, Hoboken, and North Bergen. We understand that this can be both an exciting and stressful time. Our expertise can help you save time and avoid complex legal processes on your own.
If you are looking to make a real estate transaction here in the Garden State, reach out to us today to schedule a consultation to discuss your options and map out a plan.
Real estate attorneys can help with a variety of transactions. If you are a buyer or seller of residential and commercial real estate, laws pertaining to zoning and land use are important to know. Municipalities control and direct the development of property within their borders, and zoning laws are the way they do so.
When it comes to real estate transactions, conflicts such as contract disputes, title problems, boundary disputes, tax issues, and liens can easily arise. Having an experienced attorney to guide you through the process and review any residential or commercial leases can help you avoid these conflicts or settle them in an easier fashion.
The three-day attorney review period is one of the biggest protections for your rights as a buyer or a seller. It is critical to understand what it is, or it won’t help at all.
After an offer is made and accepted and before the deed transfers, a contract is drawn up for both parties to sign. Once this happens, there are three days for you to have an attorney review the terms of the contract. In this way, an attorney can let you know of any concerns they have over language in the contract or terms that were agreed upon. During this time the contract can also be nulled and voided if one of the parties backs out.
The attorneys for both sides can negotiate the terms of the contract and add provisions to reach an amended agreement.
The most important aspect of the three-day attorney review period to understand is that after those three days — if no changes have been made or anything is done — you are bound by the terms of the original contract that you signed. This is why having a real estate attorney is important.
Real estate transactions are complex and can seem intimidating. Having a real estate attorney can help simplify the process. An attorney can make sure nothing slips through the cracks and that every detail is covered. In addition, an attorney can:
Negotiate on your behalf
Protect your rights throughout the transaction
Draft and review contracts
Identify possible real estate issues and avoid them
Help in closing the deal
Your attorney can help ensure that the outcome is favorable whether you are looking to buy, sell, or lease property.
At the Hudson Law Firm, we are proud to serve Union City, New Jersey as well as the neighboring areas of Jersey City, Bayonne, Hoboken, and North Bergen. If you are about to enter a new chapter in life that involves a real estate transaction, contact us to set up a consultation to discuss the different options available to you.