RESIDENTIAL REAL ESTATE TRANSACTIONS

When buying or selling a personal home in New Jersey, this is considered “residential.” Typically, this refers to you (or your buyer) as the resident, but any property is considered residential if it is intended to be habitable. Certain residential properties may even be income-producing - or have a commercial nature - such as investment and rental properties. While often not considered as arduous or nuanced as commercial transactions, residential closings certainly have their pitfalls and follies. A residential home is often the most expensive thing purchase and own, so it is crucial to ensure you have done the necessary investigation and have a thorough understanding of the transaction if you are make to make someone else’s home your own. There are several steps along the way to closing a residential transaction in New Jersey, such as:

As your residential real estate attorney, I advise clients to all of the above. There are additional considerations, such as ordering a survey of the property or notifying the Bulk Sales Division, but concerns such as these are better addressed on a case-by-case basis, depending upon the contract and the property.

I also try to educate clients on the entire process and contract since it is your house, your mortgage, and your municipality if my clients are purchasing. As a seller’s attorney, education and proactive counsel is key. However, my goal is to work cooperatively with you, your realtor, your mortgagee, and your title company to ensure a smooth closing.