Residential Real Estate Closings in Passaic, New Jersey
Real Estate Lawyer in Passaic
Are you contemplating purchasing or selling a home anywhere in northern New Jersey? This will likely be on of the most significant financial transactions of your life. If you are purchasing, it will almost certainly have a profound impact on your lifestyle and the comfort of you and your family for years to come.To insure each phase of the transaction is handled correctly, from negotiating the contract to financing to closing, you need the services of an experienced real estate lawyer to help guide you through the process.
At the Law Office of Jose R. Torres, we have the qualifications and experience you want in your real estate attorney. We have years of practicing real estate law, and have successfully closed hundreds of Real Estate transactions. Our qualifications insure that your purchase will proceed flawlessly and you will be informed with the latest information.
Below is some general information regarding the real estate acquisition process, it is not intended as legal advice but only informational in nature. For more details contact us and we will be available to help.
What Steps comprise a Residential Real Estate Transaction?
Residential real estate purchases are not generally a complicated transactions, but there are many factors, needs, and details that need to be completed by your attorney. They are generally the follo steps are as follows:
- Conference and analysis of client objectives. The attorney will personally meet with you to understand your goals and any particular issues that you believe may arise during the course of the transaction.
- Drafting of and/or review of the real estate contract. Your real estate agent will usually prepare the initial general form contract to sign and present your offer. The accepted form allows a period of Attorney Review, once signed, it is essential that you contact an experienced real estate lawyer to review the form contract, and thereafter replace it or amend it to reflect your wishes and the specifics of the transactions. These changes usually include issues that may not have occurred to you when you were asked to sign the agreement originally.
- Contract negotiations and modifications. The contract negotiations may go back and forth for a few days, ultimately resulting in an agreement satisfactory to both the purchaser and the seller and making the contract binding.
- Due Diligence and contingencies. Between the finalization of the contract and the closing, you will need to perform a home inspection, process your mortgage application and other items, all are governed by time periods for completion set forth in the contract. Whether you are a buyer or a seller, the various contingencies, and any extensions, must be monitored by your attorney.
- Title Review. The attorney will review a report of title from the title insurance company that will contain terms and conditions that must be satisfied in order to transfer clear title to the property.
- Mortgage Loan. Your lender will impose conditions on the financing of the residence, Your attorney will work to facilitate these so that you can be ready to close.
- Closing of Title and Closing of Mortgage. Your attorney will coordinate the closing and appear to represent your interests. In many cases he will also be responsible for making sure all necessary conditions have been met and that all papers are properly prepared and signed.
The Law Office of Jose R. Torres Esq. specializes in real estate transactions, including residential real estate purchases, sales and financing. Our many years of experience insures that your real estate transaction will be handled professionally, diligently, and competently no matter what the particular circumstances are. Contact us for a consultation.