Real Estate - The J. A. Centanni Law Firm, P.C.

Common Questions Regarding Real Estate In New Jersey

Does a first-time homebuyer need an attorney?

Yes. Real estate transactions aren’t as simple as one might believe and multiple steps are involved such as: 1) Attorney review, 2) Inspection contingency, 3) Mortgage contingency, 4) Title, and 5) Transfer of title. It is important to hire an experienced real estate attorney who has the desire to make your transaction a priority and keep the transaction moving forward.

Beware of the attorney who pushes the transaction to a non-attorney at their Firm. This does not help when there is an issue that needs to be resolved immediately and the attorney is unaware of the issue. Unfortunately, there are almost always issues!

What is attorney review?

Attorney review provides the opportunity for attorneys to review the Contract and provide changes. The attorney review period in New Jersey starts on the business day after the last party has signed the Contract. If neither attorney proposes changes to the Contract within a three-day period (weekends do not count) after the last party has signed, the Contract cannot be changed. If either attorney proposes changes to the Contract within a three-day period, the attorney review period three day clock has been stopped and attorney review can go on until both attorney reach an agreement regarding the proposed changes.

What are the costs associated with selling a home?

Costs associated with selling a home, include, but are not limited to the following:

Realtors’ Commissions;

Realty Transfer Tax; and

Attorney fee.

What are the costs associated with purchasing a home?

Costs associated with purchasing a home, include, but are not limited to the following:

Lender fees;

Title Insurance Fees, including fee for Settlement Agent;

Attorney fee; and

Mansion tax (if purchase price is over $1,000,000)

What is title insurance?

Title insurance guarantees the policyholder marketable title. It ensures the policyholder against events that may have happened in the past as well as from claims against the property from others. For example, a neighbor may claim that he owns part of your property. A title policy may pay to defend that claim up to the policy amount.

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Jillian A. Mandarino, Esq. formerly Jillian A. Centanni, Esq. has been named to the 2020 New Jersey Super Lawyers – Rising Stars List for the fourth consecutive year!

Jillian A. Mandarino, Esq. formerly Jillian A. Centanni, Esq., Founder and Owner of The J. A. Centanni Law Firm has been selected to the 2020 New Jersey Super Lawyers – Rising Star list. This is an exclusive list, recognizing no more than 2.5 percent of Attorneys in New Jersey who are less than forty years old or have been practicing law for less than ten years. Ms. Mandarino has been

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