New Jersey Real Estate Law Services
For most people, a purchase or sale of a home or commercial building is likely to be the single biggest financial transaction of their lifetime. It is surprising how often people sit down at the closing table without understanding the terms of the contracts or the substantial financial considerations involved. Hiring a real estate lawyer before you close the deal can save you a lot of heartache in the future.
We are ready to assist you with any of the following areas:
- Commercial Real Estate transactions or disputes
- Residential Real Estate transactions or disputes
- Land use and zoning laws
- Commercial leases
- Construction litigation
Scura, Wigfield, Heyer, Stevens & Cammarota, LLP, is your complete commercial and residential real estate law firm serving individuals and business property owners throughout eastern New Jersey and New York City metro region. Let our real estate attorney team make sure you can move ahead with your transaction with confidence. Contact us to schedule a free initial consultation.
Our residential real estate law services include:
- Purchase and sales agreements, drafted and reviewed
- Mortgage and financial document review
- Attend closings to answer your questions
- Construction and property disputes, litigation
Our commercial real estate law services include:
- Commercial loans, purchase and sales agreements
- Lease agreements, eviction law
- Property rights
- Partnership and shareholder agreements
- Land use and zoning
- Dispute resolution
In addition, our real estate attorney team offers legal advice and representation for developers and property managers in all areas involving land use and zoning, environmental litigation and due diligence and homeowner association law.
Below are some high level issues we want you to be aware of as you buy or sell property. As you review these, let us know if our real estate attorney team can be of assistance.
Residential Real Estate Law: Buying a Home
Once a buyer selects a home to purchase, and a price has been agreed upon with the seller, a formal contract is drawn up and signed. Ideally, a real estate lawyer should be contacted before the contract is signed; but if not, it is absolutely imperative that you contact an attorney immediately once the contract is signed by both the buyer and seller.
You have three (3) days from the date of the signing to amend, modify or cancel the contract. Once the revisions are made and agreed upon, or if no amendments are demanded within the three (3) day period, the buyer is now obligated to perform the requirements under the contract. Generally, the buyer must immediately apply for a mortgage, as well as schedule a home inspection, upon completion of this attorney review period.
Our firm can help you satisfying the legal requirements. We will be in constant contact with your mortgage representative and home inspection team in order to insure that your needs are being met in a timely manner. Once you receive your mortgage commitment (which is the mortgage company's promise to grant you a mortgage for the property), we will immediately order your title work and survey. These steps are necessary to insure that you will obtain a clean title. In other words, this will insure that once you purchase the property, no one else will have an interest or a legal right to the property.
We will also carefully review the home inspection report with you, as well as the Home Inspector; and, if necessary, we will make the appropriate demands to the seller's attorney to rectify any problems which have been discovered. Alternatively, you could choose to demand a modification of the purchase price due to any flaws that were detected. Prior to the closing date, we will also insure that all the necessary documents are fully and accurately prepared and filed as necessary to insure a swift closing with no surprises. At the closing date, which is usually two (2) to three (3) months after the contract has been signed, the deed is transferred, the mortgage papers are signed, the requisite funds are transferred and the keys to the property are delivered to you. At this point, you are legally the owner of the real estate property.
Residential Real Estate Law: Selling a Home
When selling a home, it is equally imperative that the contract be reviewed within the three (3) day attorney review period. At this time, we will study the contract and make the necessary revisions in order to protect your interests, to maximize your profit derived from the sale and to insure a smooth transition of the property.
Many times it is necessary for you to remain in the property beyond the closing date due to the fact that you may be simultaneously purchasing another home. This can be accomplished through a "Use and Occupancy Agreement" which allows you temporary use of the property.
In order to insure a smooth closing, we will generate the necessary deeds and affidavits of title for the property in question. We will also insure that the buyers have made the necessary deposits and that they are fulfilling their end of the bargain. Much of the seller's concern, in addition to receiving a fair price, is limiting their liability to being sued after the closing. We will review and modify the contract with scrutiny so as to limit the buyer's right to sue you after the closing in order that you can safely and confidently receive your proceeds and put the closing behind you.
Commercial Real Estate Law: Commercial Leases
Commercial leases are often complex documents which set forth the rights and obligations of two commercial entities with respect to a piece of property. Therefore, it is essential that the document be prepared with the necessary foresight to protect the parties rights against possible risks and challenges associated with both the property and the business being operated therein. Our office is experienced in the review and preparation of commercial leases with respect to both residential and commercial properties.
We also have extensive experience in litigation arising from Commercial Leases especially with respect to defense, indemnity and hold-harmless provisions of commercial leases. We have successfully represented corporate clients in such instances and recovered significant attorneys' fees pursuant to clauses contained in Commercial Leases.
Contact us today to learn more about our complete range of residential and commercial real estate attorney services.