Attorney review gives buyers and sellers an opportunity to have counsel review certain New Jersey residential contracts prepared by real estate licensees. It is a deadline-driven contract provision. Have your attorney explain the actual agreement before you rely on a right to cancel or change it.
When the three-business-day period applies
The required clause in covered broker-prepared contracts measures the review period from delivery of the fully signed contract to buyer and seller. Saturdays, Sundays and legal holidays are excluded. Your attorney should calculate the deadline from the delivery details.
Do not assume every purchase agreement has the same clause. Attorney-prepared contracts and developer agreements may differ, so arrange legal review before signing when necessary.
Silence is not an extension
Under the standard clause, the contract becomes binding at the end of the review period unless an attorney timely disapproves it. The parties may agree in writing to an extension. Merely exchanging questions or waiting for a lawyer’s response does not automatically preserve the review period.
Your attorney should handle the required notice and explain the effect of a disapproval, extension or revised agreement. Do not assume that an informal message to an agent is sufficient.
What your attorney can address
- Inspection rights, deadlines and the treatment of repair issues.
- Financing, appraisal and other agreed contingencies.
- Deposits, closing date, possession and default provisions.
- Title, included property, parking, storage and outdoor rights.
- Association documents, assessments and tax agreements.
- Tenancies, occupancy and any proposed delivery condition.
Proposed changes require agreement; attorney review does not guarantee that the other party will accept new terms. Raise concerns about price or structure with your attorney as well as concerns about legal wording.
After review, follow the contract
A binding contract can still contain inspection, financing or other conditions. Those provisions have their own requirements and deadlines. They are not a general right to change your mind.
Ask your attorney to confirm the contract’s status, the next deadlines and how deposits are handled. Avoid treating a refund or cancellation right as automatic without checking the agreement and circumstances.
Prepare before the clock starts
Select a New Jersey real estate attorney before making an offer. Send the complete signed agreement, delivery information, disclosures and available property documents promptly. Stay reachable and read the proposed revisions so you understand the obligations you are accepting.
I help coordinate the transaction and property information; your attorney advises on the legal terms and handles the review process.
References: New Jersey homebuyer guide; N.J.A.C. 11:5-6.2.
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