Hi, what happens after seller accept offer? Do we have to have attorney from buyer side? If we don't hire

Asked by Arpi, Edison, NJ Mon Jan 19, 2009

attorney then what happens?


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Kenneth Verb…, Agent, PRINCETON, NJ
Mon Jan 19, 2009
Get an attorney! Unless you are very familiar witrh the process you run a number of risks. Your agent should refrain from giving you legal advice and certainly has a conflict of interest in that they only get paid if you close. (even if the house is a dog) With out an attorney you lose the ability to change the contract if the seller accepts it as is. (While very good even the standard contract is often adjusted by attorney to meet individual needs of the principals)
Most home purchases are very large and account for a good portion of a person's assetts, it is worth the price to protect.
2 votes
Kenneth Verb…, Agent, PRINCETON, NJ
Mon Jan 19, 2009
I have always erred on the side of caution and the opinion 26 I am familiar with states that the contract is binding after 3 days unless cancalled by attorney. It also states specifically that you(buyer or seller) can not change the contract unless the other party agrees. (I do not believe that buyer or seller can alter contract after signing unless they are attorneys)
If someone has a more current form that now allows this I would love to see it.
1 vote
Debra (Debbi…, Agent, Livingston, NJ
Tue Dec 15, 2009
So, Arpi - you asked this question way back in January!!

I assume by now you are settled in, and have moved into your new home - I hope so anyway!
Let us know!

I also hope you had an attorney represent you!

Best wishes............
Debbie Rose
Prudential NJ Properties
0 votes
Donna Macan, Agent, Edison, NJ
Tue Dec 15, 2009
You don't have to hire an attorney, but it is in your best interest to do so. Most likely the seller will have an attorney representing them so it's best to have someone looking out for your best interests.

If you don't hire an attorney your contract will be consider under contract after three days, after that you should schedule your Home Inspection and apply for your mortgage.

I highly recommend you hiring an attorney. I hope this information was helpful, if you have any other questions, please feel free to ask.


Donna Macan
0 votes
1zoo, Agent, Piscataway, NJ
Thu Aug 20, 2009
It' probably a good idea to have your owne attorney but not necessary.
0 votes
Cynthia Freu…, Agent, Warren, NJ
Thu Aug 20, 2009
Since you have signed the contract as an integral part of making your offer, the best way you have to review the terms of the contract is the atty review period. I would bet that the seller's atty will make some changes.
You may be able to act as your own atty and review the contract on your own, and request changes.
What's very important is that you cannot expect your Realtor to do what an attorney does. It is outside their license.
0 votes
Arpi, Home Buyer, Edison, NJ
Mon Jan 19, 2009
Thank you all for answering.
0 votes
Diane Glander, Agent, Spring Lake, NJ
Mon Jan 19, 2009
If you are not using an attorney, are you using a title company? That is an option for you. Usually a title company charges less than an attorney.
Usually after a seller accepts an offer, the contracts go to the attorneys for both buyer and seller. However if you are not using an attorney and the seller is, that attorney will probably contact you and/or your agent to get you to sign yourself out of attorney review. Someone has to do it.
I would highly recommend you hire a professional to assist you. The reading and review of the contract will only be the first job an attorney will do for you. If inspection issues come up, an attorney will help protect you. If there are title issues, an attorney will understand what needs to be done to protect your interest. Finally, your attorney will review the HUD-1 statement to be sure all the $$$ are correct and you are not paying too much or for items that you would not normally be responsible for.
Good luck!
Web Reference:  http://www.dianeglander.com
0 votes
William Leigh…, , New Jersey
Mon Jan 19, 2009
Arpi: I hope you have some of your 3-day attorney review left. An attorney can help you immediately by determining if there are things that need to be changed in your contract. After that, he can also tell you what's next. You cannot change or cancel the standard NJ contract yourself. Our office has added language to a special version that gives the principals the same rights that their attorneys have.

Without an attorney, you must read the contract yourself, both to figure out what’s next and to figure out what your rights and responsibilities are. A Realtor should not give you legal advice; they are not licensed by law to do so.

Ken Verbeyst was being super cautious, because he is one of the sharpest guys around and I believe he just did not wish to weigh-in with a definitive statement, since he is not a lawyer. He was dead on, though, as far as I can see. (I'm not offering legal advice either.)

The standard language says you do not count Saturdays, Sundays and legal holidays in the 3 days but I don't think that Tuesday is a legal holiday, just the day we inaugurate our president.

I'd spend the money for an attorney myself (always have in several transactions,) if that means anything to you.

Best wishes.
0 votes
Laura Gianno…, Agent, Manahawkin, NJ
Mon Jan 19, 2009
Whether you hire an attorney or not, there is a 3 day attorney review period which cannot be waived. During that period, the contract can be cancelled for any reason by either party.

You do not have to have an attorney, but it is recommended especially if the other party has legal representation.

Laura Giannotta
Keller Williams Atlantic Shore
0 votes
John Sacktig, Agent, New Jersey, NJ
Mon Jan 19, 2009
Hi Arpi -

You should have an attorney revise your contract and act in your best interest. The $500 - $1,000 you pay for the attorney services can save you headaches at a later date. Inspection issues, Attorney review of the contract to give you your "outs" and monitor the other side and what they put into the contract and such..

It would not be a very smart move to not hire an attorney.. But, you can work with your mortgage company, make sure they have the mortgage information to the other attorney and the closing is set up, then you will go to the closing and sign documents to buy the house from the sellers attorney.

I can connect you with two very good attorneys in the area that charge between.. 600 and 1000.

If you end up NOT using an attorney.. please post your experience here so we can find out what happened.

John Sacktig
Broker Manager
Orange Key Realty
Direct: 732-213-1409

0 votes
Kimberly "KI…, Agent, Little Egg Harbor, NJ
Mon Jan 19, 2009
Good morning Arpi,

Congrats on your offer being accepted. Although it is not the law that you have to use an attorney to represent you with this purchase , I highly recommend you obtain an attorney to review your contract and look out for your best interests. One the executed (signed by all parties) contract are returned to you, please have an attorney review them. You have three business days, during the three business days the homes stays on the market, should either party want to declare the contract null and void they can do so during the attorney review. Also should either buyer or seller attorney want to make changes to the contract or extend the attorney review it must be done during the three day attorney review period. Whe you seek an attorney, you should seek out an attorney in the area that does alot of real estate and is familiar. Good luck!
0 votes
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