Do you need an attorney for a real estate transaction? Simply put, I don’t know! I’m not an attorney; I can’t give you legal advice, only an attorney can. The contract you sign at the transaction is a legal document, so if you don’t understand what you’re signing, you need an attorney there with you.
Attorneys are good at finding loopholes. In New Jersey, we have a three-day attorney review period, which is a time for them to review the contract and ask to clarify or add items. They can be a huge help during this time, but I have seen attorneys kill a deal as well.
If you plan on hiring an attorney, you need to make sure of a few things upfront. Make sure that you hire a real estate attorney, one that specializes in real estate law. You want to work with someone who is up to date with the changes and understands what is happening in today’s market.
"Just like Realtors, you’ll find good and bad attorneys."
You also want your attorney to be someone who will explain things to you. You don’t want to work with someone who will decide for you. You need to know the good, the bad, and the ugly so that you can make the best decision yourself. Too often, I see clients going along with whatever the attorney says instead of questioning them.
Just like Realtors, you’ll find good and bad attorneys. If you get referred to an attorney, make sure you interview them first so that you know whether they’re a good fit for you.
If you have any questions about real estate attorneys or real estate in general, feel free to call me at (609) 948-4306. If you or someone you know is looking to buy or sell, make sure to reach out to me!