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FOCUSED LEGAL REPRESENTATION FOR BUYERS, SELLERS, and REAL ESTATE PROFESSIONALS in PA & NJ
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LEGAL INSPECTION OF DOCUMENTS – ATTORNEY REVIEW PENNSYLVANIA AND NEW JERSEY

In real estate transactions you are advised on the physical inspections of the property. They commonly include a property ( home) inspection, an infestation inspection, and a radon inspection. They are all important inspections that should be undertaken so you become educated on the condition of the property prior to purchase. However, as an attorney, I believe most consumers have little knowledge about the legal structure of their transaction. Just as you want to know the physical situation of the property you need to know the legal scenario of your deal and as such there should be a review of the legalities of the deal prior to signing documents. It is what I term a legal inspection of documents.

WHAT IS IT?

A legal inspection of documents is simply a review and explanation of all real estate documents prior to signature. That is a total review of anything that has legal significance that you are required to sign with an opportunity to ask questions and have concerns addressed by an attorney who focuses in real estate. Although this type of attorney review it is often over looked it is the most fundamental to protect your interests.

PENNSYLVANIA RESIDENTIAL TRANSACTIONS

In Pennsylvania, a residential transaction, does not allow for any time period for an attorney to terminate the transaction after the Agreement is signed, unless certain contingencies are invoked. Therefore, it is crucial to have a legal inspection of documents with a real estate lawyer before signature.

NEW JERSEY RESIDENTIALTRANSACTIONS

In New Jersey, the law allows for a “3 Day Attorney Review Period” for an attorney licensed in New Jersey, to inspect your sales agreement in a residential transaction, if prepared by a licensed real estate professional, and if necessary, terminate the transaction based on the document language, even after signature by the parties. This is allowed prior to any physical inspection of the property by the Buyer.

WHAT DOCUMENTS SHOULD BE REVIEWED

Documents that I consider important for a Legal Inspection of Documents prior to signature include but are not limited to, the Agreement of Sale, the Good Faith Estimate (GFE), the Title Commitment, the Uniform Settlement Statement (commonly referred to as the HUD-1) and any other very important documents that have legal significance. All of these documents can be critical to your deal and should be reviewed and the language set with your best interests in mind. Only an attorney who has concentrated legal experience in residential real estate transactions can offer you such a thorough review.

CONTACT ME

If you take away from my site it is this: CONTACT A REAL ESTATE ATTORNEY (preferably me) BEFORE YOU SIGN ANY DOCUMENTS! Your first telephone consultation with me is free at 215-253-8494. You can also email me through my contact page.


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