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Dodge
Premium Member
join:2002-11-27

Dodge to dennismurphy

Premium Member

to dennismurphy

Re: House offer process - NJ specific and urgent

said by dennismurphy:

Do you have a real estate attorney yet? I would NEVER consider buying or selling a home without one!

Yes, signing a boilerplate contract supplied by the realtor is standard practice. The next step is for your (and the seller's) attorney to review it and modify it in your interest. There are clauses that realtors include that most attorneys strike immediately. Get moving! As you said, you (initially) have 3 days. I've had attorneys adjust that too.

Anything in there is negotiable; have a conversation with your attorney if you want/need changes.

I cannot emphasize enough how important a real estate attorney is. They are working on your behalf to ensure you are treated fairly.

Best of luck with the purchase! My sis-in-law lives in Manalapan - nice area.

I understand the attorney part, however does it make sense to engage an attorney before there is an agreement is reached on the selling price? If the seller rejects the offer, I don't really need an attorney at this point correct?
Bob4
Account deleted
join:2012-07-22
New Jersey

Bob4

Member

said by Dodge:

does it make sense to engage an attorney before there is an agreement is reached on the selling price?

No, that's not necessary. The contract gets forwarded to both lawyers after the buyer and seller agree on a price and both sign the contract.

Since you only have 3 days at that point, it would be wise to line-up a lawyer now (just get a name, call them and make sure they'll handle the work [ask for a price, too]), since you're from out-of-state.

dennismurphy
Put me on hold? I'll put YOU on hold
Premium Member
join:2002-11-19
Parsippany, NJ

dennismurphy to Dodge

Premium Member

to Dodge
said by Dodge:

said by dennismurphy:

Do you have a real estate attorney yet? I would NEVER consider buying or selling a home without one!

Yes, signing a boilerplate contract supplied by the realtor is standard practice. The next step is for your (and the seller's) attorney to review it and modify it in your interest. There are clauses that realtors include that most attorneys strike immediately. Get moving! As you said, you (initially) have 3 days. I've had attorneys adjust that too.

Anything in there is negotiable; have a conversation with your attorney if you want/need changes.

I cannot emphasize enough how important a real estate attorney is. They are working on your behalf to ensure you are treated fairly.

Best of luck with the purchase! My sis-in-law lives in Manalapan - nice area.

I understand the attorney part, however does it make sense to engage an attorney before there is an agreement is reached on the selling price? If the seller rejects the offer, I don't really need an attorney at this point correct?

No, but would be best to have an attorney at the ready so once you've got the contract signed they can review right away.

It seems backwards (sign first then review) but that's the way it is ...