New Jersey real estate law is enormously important – the purchase and sale of a home are often the largest transactions in many people’s lives. It is fraught with risks for both buyers and sellers. For example, let’s say you’re buying a house and you receive a disclosure form from…
At first glance, both commercial and residential New Jersey real estate transactions seem to be quite similar. A contract is executed, title work must be checked, lender requirements must be met and the closing must be completed. But, from the initial offer through closing on the transaction, there are significant…
Yes, New Jersey property law allows for the partition of the property, or if a partition is not feasible, then the forced sale of real estate which is owned by more than one person. Often real estate is owned by several people. This commonly occurs through an inheritance. For example,…
Recently, many potential home buyers have been seeking (“FHA”) loans. FHA lenders will finance up to 96.5 percent of the purchase price for a property, and many buyers are attracted by the low down payment required to purchase a home (3.5 percent). Additionally, FHA lenders will allow a seller’s concession…
Standard form real estate contracts in New Jersey usually contain a provision that a home is being sold in “as is” condition. This is essentially an indication that the seller feels that the contract sale price takes into consideration the condition of the home and the seller does not intend…
If you are in the market for a new home, you may not be aware of the legal principle of “procuring cause,” but many New Jersey realtors are painfully aware of the ramifications of it. In the swirl of open houses and realtors involved in finally deciding upon a home,…