Whether you are buying or selling a home, or buying and selling a commercial property, JSD Legal handles both residential and commercial real estate closings throughout the entire State of New Jersey. New Jersey real estate law can be overwhelming and complex. For many, this is your first time purchasing or selling a home. JSD Legal, LLC has been representing clients in countless real estate transactions for nearly a decade. Mr. Scotto D’Aniello assists each of his clients answering any and all questions or concerns and most importantly, protecting each client’s financial interests along the way.
How Does A Real Estate Attorney Assist With The Purchasing Of Residential Property In New Jersey? If I Already Have A Real Estate Agent, Do I Need A Lawyer?
In New Jersey, it is not required for you to have a real estate attorney represent you. However, having a good real estate attorney on your side can help you navigate the complex housing market.
It’s always important to understand that a real estate agent is not a real estate lawyer. They cannot legally advise you on real estate law.
Now, real estate law and real estate transactions can be very complex and involve buyers being financially obligated to pay hundreds and thousands of dollars.
That’s why having an experienced attorney on your side is so critical to ensure that your financial interests are always protected.
What Is A Clear Title And Why Does It Matter? What Are Some Of The Common Issues That Affect Title That Could Hold Up A Real Estate Transaction?
A clear title is a title without any type of lien or levy from the creditors or other parties that would pose a question as to legal ownership of a property.
Once the contract is signed and the attorney review period is completed, I work closely with title agencies who specialize in running searches, ensuring there are no outstanding liens or encumbrances on the property, and ultimately to provide you clear title and title insurance for your new home.
For residential real estate, it’s the buyer who would order the title. I take that burden off of my clients so this way, they don’t have to worry about that issue.
I ensure that the title agencies have title insurance to protect the financial interests of my clients in case there are any future issues concerning the ownership interest of the property.
If it’s learned that someone else doesn’t have legal ownership, a levy, or interest in the property, I ensure that the title agency that we’re using provides insurance up to the full amount of the contract price of the residence so my clients are always going to be financially protected.
What Are Some Other Common Causes Or Delays That Could Derail My Residential Real Estate Sale Or Purchase In New Jersey?
Some common causes that could derail your residential real estate sale or purchase in New Jersey are
- A judgment or lien against the property
- Difficulty obtaining a mortgage commitment
- A tenant renting a specific unit or dwelling that needs to be given the notice to vacate the property
- Additional time needed to find a new home after selling
- A contingency on the contract
This information may not be explained to a client by a realtor and it could potentially delay the closing. These are reasons why it’s so important to have an experienced attorney on your side to explain these issues to you because it could cause potential delays and cause financial burdens on the clients.
For more information on Real Estate in New Jersey, an initial consultation is your next best step. Get the information and legal answers you are seeking by calling (908) 428-7006 today.
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- Real Estate FAQs
- Buying Or Selling Residential Property In New Jersey
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