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Newbie, Home Buyer in Bristol, VT

How long does one stay in attorney review generally?

Asked by Newbie, Bristol, VT Fri Jun 3, 2011

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Answers

7
Tina Rebimbas Torres - Broker’s answer
Suppose to be 3 days, but it can only as quick as your attorney wants to make it. Average is a 7 calendar days.

Attorney Review benefits the seller, because they can still market and show the property.
Buyers should push to get it out as quickly as possible.
0 votes Thank Flag Link Wed Nov 6, 2013
his question was asked over 2 years ago............I bet his attorney review is over by now!
0 votes Thank Flag Link Sun Oct 13, 2013
3 business days. any questions ask your attorney. You should definitely get an attorney for the RE closing
0 votes Thank Flag Link Sun Oct 13, 2013
It depends on the property, the issues if any and of course the attorneys. Many realtors have been playing games and getting ignorant attorneys to play it with them so it could also depend on your "team" remember you are paying the attorney and should be calling those shots.

Is the property a short sale?
No matter this should not be a factor as to when attorney review begins because once the home owner not their bank and the buyer signs the contract and both get a copy, they have 3 days to begin attorney review according to Opinion 26 notice to buyers which should have been the cover page notice BEFORE your contract which your agent had you sign. If they did not have you sign it, they just broke the law.

After contracts have been signed you will have 3 days to have your attorney send out the first review letter which usually disapproves of the contract in it's current format however with a few proposed changes they will find it acceptable and binding then the other attorney has 3 days to respond and this can go back and forth for a while or both attorneys could agree to hold on attorney review from going any further until a certain act has taken place.

Sorry no cut and dry number, it depends on your situation.

If you need a good attorney I could recommend a few I've worked with in the past who know their business but my disclosure, always perform your own due diligence. Past work and success is not always an indicator or guarantee of future performance.

Victor Kaminski
cell: 908-884-5757
JERSEY BROKERS
Office: 732-650-9911
0 votes Thank Flag Link Mon Jul 2, 2012
Contracts done right 1 or 2 days after all have signed, contract or lawyer gone bad, well week, two, three, put a fire under their but, they work for you!
0 votes Thank Flag Link Mon Jun 13, 2011
Hi Newbie, as soon as the contract is executed (signed) by both parties, attorney review has begun. Though generally thought of as a 3 day period, it can be over in a day if the attorneys are available and few changes are made. It can also drag on for longer than 3 days. It involves a process of letter exchange between the attorneys, and ends when there is an agreement on terms/changes. If you are happy with your deal, ask your attorney to move it along as there is always the risk that you could be unseated - during attorney review either party may leave the transaction without recourse to the other.

Best,
Jeanne Feenick
Unwavering Commitment to Service
Web Reference: http://www.feenick.com
0 votes Thank Flag Link Mon Jun 13, 2011
The Attorney Review Period begins the day following all parties receipt of a fully executed contract. The period lasts for (3) three business days, not counting weekends or holidays and ends midnight on the 3rd day. This is the period of time the buyer and seller have opportunity to have their attorney review and modify or cancel the agreement of sale. If both buyer and seller have their attorneys review the contract prior to the 3rd business day, the attorney review may be considered over if both parties are satisfied with the agreement as written and no changes were made.
0 votes Thank Flag Link Fri Jun 3, 2011
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