Real Estate Lawyer | Business Lawyer | Toms River
Real Estate Transactions
The buying and selling of real estate, whether a primary residence, vacation home, or investment property, is one of the largest financial commitments most individuals will ever make in their life and it can be one of the most stressful times as well. A Toms River real estate closing attorney is essential to this process.
Once a residential real estate owner decides to sell a property, he or she generally lists the property with a real estate broker. After the property is listed, a "buyer" will make a formal offer that is secured by a deposit. If the property owner accepts the offer, a contract, which is usually prepared by the buyer’s realtor, sets forth the rights and obligations of both parties with regard to the sale of the real estate. That residential real estate contract is subject to a three-day attorney review period during which either buyer’s real estate attorney or seller’s real estate attorney can disapprove the contract and terminate it or begin to negotiate changes to it. Once the changes to the real estate contract are successfully negotiated or the three days pass without the contract being disapproved, the residential real estate contract becomes binding.
The closing date in the real estate contract is the target date for when the real estate seller transfers title to the house into the buyer's name and the buyer signs a mortgage with a bank or lender. Obtaining a mortgage from a mortgage lender requires you to meet a number of conditions and complete a large amount of paperwork. Once a mortgage commitment is issued, it is usually it is subject to conditions. It is important to satisfy all of the mortgage conditions in a timely fashion so as not to delay the closing. Also, the real estate contract should include language which allows the buyer to conduct a home inspection. A buyer will be able to hire a certified inspector, who can find problems the buyer probably did not notice when the buyer agreed to purchase – such as a leaky roof, termites, or inoperable facilities. When people are buying and selling real estate at the same time, the situation is even more complicated. The real estate contract must be worded properly to make sure that when you sell, you are not left with no place to live. Waterfront property raises its own special issues as to the exact extent of the property being bought and sold and usage rights. As a real estate lawyer in Toms River, Ocean County, my office knows how these issues should be handled.
Residential property is said to contain a “title defect” if there’s a dispute as to who actually owns the property or if a mortgage or other liens (e.g., judgments) exists on the property. If the property has a mortgage, for example, the seller must pay it off before selling the property to you. An attorney will review a title search and provide you with guidance as to how best to clear any title defects.
There are too many potential problems in purchasing or selling a home to even attempt to provide a complete list here. Senior Communities, Waterfront and Beachfront properties have their own unique pitfalls such as Tidelands, Riparian Rights, State Claims, HOA's & tax allocations after renovations. As mentioned above, whether purchasing or selling, considering the financial impact upon you and your family, it is best to seek the advice and guidance of an expert.
Hiring an Ocean County real estate attorney guarantees that you will receive an expert, unbiased explanation and evaluation of the real estate contract. Your real estate attorney will work to negotiate fair and reasonable terms and will help you avoid pitfalls of which you may be unaware. You may think the real estate contract is clear and easy to understand, but it may contain provisions that are unenforceable or that create more liability than you realize. You want and need clear, solid title to the property. Issues such as liens and riparian rights occur all the time. They have to be addressed. Litigating your rights after the fact can take years and cost thousands in legal fees.
I have handled thousands of real estate transactions throughout Atlantic, Monmouth and Ocean Counties. My goal in residential real estate transaction is to make the process a simple and stress free as possible for my clients. I know that buying or selling a house or condominium can be a daunting process, especially if you are a first time homebuyer. I am dedicated to relieving the worry associated with real estate transactions. I will sit down with you and explain the process, what needs to be done, and the time frame of the transaction. I represent buyers and sellers of the real estate from the time of contract through closing of title.
My law office provides a wide range of legal services for businesses, handling the legal needs of business start-ups and established business.
Operating a business is a complicated and time-consuming venture. Starting a business is more difficult than simply signing a lease and opening the doors. Business contracts do have fine print. State laws and regulations that you did not know existed demand compliance, and can be the difference between success and failure.
I provide counsel and advice concerning the legal needs of business start-ups. I have the experience and skill that can help a small business start on the right path. My law office will handle all state filings with the State of New Jersey Treasury Department and Division of Taxation. My office drafts documents for Limited Liability Corporations (LLC), corporations, partnership agreements, shareholder agreements, and operating agreements.
Contact my office when you need a Toms River, Ocean County business lawyer.
Business law issues that my office handles include:
* Drafting and Negotiating Contracts
* Setting up corporations and partnerships
* Purchases and Sales of Businesses
* Business Litigation and Alternative Dispute Resolution (ADR)
* Contracts and Leases
* Corporate Dissolutions
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