Our New Jersey real estate team can help you buy or sell a home.
We understand that buying or selling a home is a huge financial and emotional undertaking; selection of your attorney requires careful consideration. Our experienced New Jersey real estate attorneys can protect your rights when you buy or sell a home.
Real estate transactions can be quite complicated. Sellers in New Jersey do not have to disclose everything that might be wrong with a home, but there are certain disclosure requirements for sellers under what is known as “common law.” These include:
- An implied warranty of habitability, which means that the home is habitable.
- Disclosing to the buyer any latent, material defects that the seller knew or should have known about. In this context, a “material” property condition is one that would affect the buyer’s decision to purchase. (Obvious property defects, or defects that are not material, need not be disclosed.)
- Making relevant disclosures related to items in the contract.
- Disclosing whether a property is stigmatized due to a violent death on the property, but only if the buyer specifically asks.
It is worth noting that, although New Jersey law technically allows a seller to sell their property “as is,” the seller cannot avoid certain disclosure requirements, such as the implied warranty of habitability. For example, if the water pipes contain damaging toxins that make the water unsafe for consumption, then the defect must either be corrected or the buyer must be made aware of the issue. If the seller hides this information from the buyer, then the buyer may later have a legitimate cause of action against the seller for failing to adhere to the implied warranty of habitability. Additionally, including an “as is” clause in the contract does not necessarily bar the buyer from inspecting the property for major defects.
Buyers have responsibilities, too. A buyer typically cannot bring an action against the seller for failing to disclose known or obvious defects. For example, if a buyer is aware that the lobby stairwell is broken when they purchase the property, they may not be able to sue and recover damages from the seller for a subsequent injury on the stairwell. As such, it is fairly standard procedure for a buyer to consult with a qualified real estate attorney and use a certified real estate inspection professional to evaluate the property for defects before moving forward with their purchase.
At Posternock Apell, PC, our New Jersey real estate attorneys have extensive experience representing clients involved in the purchase or sale of a home across New Jersey. We understand the requirements imposed on each party, and we know how to help both parties effectively navigate the transaction so as to minimize the risk of miscommunication, abuse, and conflict. Contact our firm today for more information.
How will our team support you when buying or selling a house in South Jersey?
In New Jersey (and in many other states), the law does not require that buyers and sellers involve a qualified real estate attorney when closing a real estate deal. However, having a skilled attorney can mean the difference between a positive or negative real estate experience. Having the right attorney for your real estate transaction can ensure that the purchase/sale goes through smoothly and that the risk of a deal falling through or your future, the financial loss is minimized.
Skilled real estate attorneys can provide assistance in the following ways:
- Reviewing, drafting, and executing contracts.
- Evaluating the condition of the home with respect to defects and how that might influence a later dispute.
- Assessing risks associated with liens and borrowing.
- Determining the rights and obligations imposed on each party moving forward.
- Ordering title insurance.
- Guiding buyers and sellers through the closing process.
Here at Posternock Apell, PC, we represent clients at every stage of the buy/sell process. It is our goal to provide truly comprehensive advocacy. Clients can rest assured that any potential legal issues associated with the transfer of real estate will be evaluated and an alternative option will be outlined so as to minimize the risk of a later dispute.
Contact the experienced real estate attorneys at Posternock Apell, PC when you buy or sell a home.
Whether you are interested in purchasing or selling a home in New Jersey, or are already making progress on a purchase/sale, then we encourage you to get in touch with an experienced New Jersey real estate attorney at Posternock Apell, PC for assistance. Our team of attorneys has decades of combined experience handling transactional and litigation-related concerns for a range of clients, including those who are engaged in real estate transfers. We represent clients throughout South Jersey, including Browns Mills, Moorestown, Mount Laurel, Pemberton, and Delran, NJ. Call (856) 642-6554 or submit an online message to schedule a meeting with one of our attorneys today. We look forward to helping you efficiently close out your real estate transaction.