Purchasing property whether it be commercial or residential is a big investment and a big life-changing decision. Emotions are often running high and once you think you have found the property of your dreams you want to close on it as fast as possible before someone else beats you to the punch. However, you are not concerned with the background information you should be considering when making such a decision.
Things can go wrong fairly quickly, more so without the help of a New Jersey real estate lawyer. If you put things into perspective, real estate transactions are the longest-lasting, highest value, and most formal contract you will get into throughout your life. It is imperative that you keep in mind you will need to navigate the complex New Jersey real estate law on your own if you do not hire an attorney. There are several things a New Jersey real estate lawyer can help you with.
Commercial Real Estate
A New Jersey real estate lawyer can help you with several things when purchasing a commercial property. The first and most important thing they offer is reviewing the current contract you have been presented. We want to ensure you are protected and that the terms of the contract are fair.
We will also attend the closing to ensure that the property handoff is complete. During a commercial sale, we can draft up a contract if necessary. A New Jersey real estate lawyer is aware of the complex New Jersey real estate law that applies to environmental issues.
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.
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 or person who publicly inhabits 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.
Contact DeZao Law Today for an Appointment
There are many other aspects that go into buying and selling property that should be discussed with an attorney. The Law Offices of James C. DeZao, P.A. can guide you through any type of real estate issue you require. Call our office at 866-815-4059 or visit our contact page to schedule a consultation today.