Buying & Selling a House in New Jersey | Real Estate Lawyers Moorestown, NJ
New Jersey Real Estate Attorneys Representing Clients Involved in the Purchase and Sale of a Home in Burlington County, Camden County, and Mercer County, NJ
Real estate transactions — and more specifically, purchasing and selling a home — can be quite complicated.
Sellers in New Jersey do not necessarily have to disclose everything that might be wrong with the 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 Moorestown real estate attorneys have extensive experience representing clients involved in the purchase or sale of a home in 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.
Why Consult a Real Estate Attorney for Buying or Selling a House in Mount Laurel, NJ?
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, it is generally a good idea to do so. With the aid of an attorney, you can ensure that the purchase/sale goes through smoothly and that the risk of a future dispute 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.
- And more.
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 an Experienced Browns Mills Real Estate Attorney at Posternock Apell for Guidance
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) 209-0200 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. We have an office conveniently located at 400 North Church St. Suite 250, Moorestown, NJ 08057, in addition to offices in Browns Mills, NJ and Philadelphia, PA.