Attorney to Sell Property

We assist sellers in residential real estate transactions. If you plan to sell property, Murray Law Group can help you make sure your interests are protected.

The Murray Law Group is familiar with the local market as well as customary real estate sale procedures. If this is the first time that you plan to sell property, you will have lots of questions and occasional anxious moments. Having an experienced real estate lawyer to assist you can make a difference.

For someone who would like to sell property, it is important to be sure that the buyer is credit-worthy. Without good credit, your buyer may be unable to obtain a mortgage loan. Even in a cash deal, you will want to be sure the buyer can come up with enough money to conclude a sale transaction. You will have to obtain a certificate from your local municipality that there are no outstanding property violations. As a seller of ordinary residential real estate, you also will need to supply potential buyers with a state-required disclosure statement, identifying in detail the condition of your property.

Sellers often retain real estate agents to find potential buyers. If you hired a seller’s agent you will be asked to sign a listing agreement with the agent’s office. Typically, the agent’s commission is 6% of the sale price. Agents often ask that you sign an agreement that will be in effect for a full year but most will agree to a shorter period, such as 6 months. A shorter period is desirable because if you are unable to find a buyer you might decide to try another agent.

Besides paying for a sales commission, most agreements to sell property provide for the parties to split state and local transfer taxes equally. These taxes are tied to the value of the property that is being sold. If you are transferring title to a member of your family, the transaction may be exempt from transfer tax.

The Murray Law Group can furnish you with a lawyer to write or review a contract to sell the property. Your sale agreement must be negotiated carefully to make sure your interests are protected. The buyer’s mortgage commitment will have to be examined to make sure it does not impose conditions the buyer cannot meet prior to closing. We will also go to closing with you to make sure it goes smoothly and to help you address any last-minute issues.

Attorney to Buy Property

We can assist you to buy property in residential real estate transactions. The process can be exciting and stressful, and having real estate lawyers who know the local market and the real estate laws of New Jersey is necessary for today's market. We know the questions to ask and alert you to any concerns prior to closing the deal.

As someone who wants to buy property, it is important for you to determine that you have the resources to go through with a deal. This is true whether you are seeking mortgage financing or just coming up with the funds to conclude a purchase transaction. In all likelihood, you will have to furnish evidence to the seller or the lender of your ability financial ability to complete the deal. Your credit history will probably be examined as well.

Residential sales agreements can be complex contracts, and there may be lurking dangers — undisclosed defects, unknown liens against the property, or lack of protection if the deal falls through. Murray Law Group can:

• Furnish a lawyer to draft or review the agreement to buy property

• Help negotiate the transaction to protect your interest

• Ensure you get a proper inspection

• Establish clear title and obtain title insurance

• Verify mortgage commitments

• Attend your closing settlement to address any last-minute issues