Tamburro Law Offices
Real Estate Law
“Real estate cannot be lost or stolen, nor can it be carried away. Purchased with common sense, paid for in full, and managed with reasonable care, it is about the safest investment in the world.”
-Franklin D. Roosevelt
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Investing In Real estate
Any time you are buying or selling property, you will want to protect your legal and financial interests by hiring an experienced Real Estate Attorney. At Tamburro Law Offices, we provide competent personal attention and quick responses in every type of commercial or residential real estate transaction. As a New Jersey professionally licensed real estate agent I am intimately familiar with the complexities and pitfalls any real estate transaction can present, and can help you to efficiently and safely finalize your real estate purchase or sale.
Tamburro Law Offices Can Help You
When you hire Tamburro Law Offices to represent you in a real estate case, we become members of your team of professionals. We will work closely with your realtor and mortgage broker to:
- draft and review all contracts and addenda
- assist in the negotiation of an optimal mortgage situation to suit your individual circumstance
- protect your interests during the property inspection and repair issues which inevitably follow
- carefully review the title and be at your side at the closing table to close the deal
Do not jeopardize your family or your future by signing documents or negotiating alone. Contact our experienced real estate team to help you throughout the process to ensure your rights and interests are protected.
New Jersey Real Estate Process
The following are the rough steps you will follow any time you are completing the purchase or sale of a home or commercial property. Remember that the sooner you can get your real estate attorney involved in the process, the better!
Step 1: Identify A Property
As a licensed real estate Agent in the State of New Jersey, James A. Tamburro, Esq. can help you search and identify commercial and residential properties to suit your individual needs. What better way to start a professional relationship than from the very initial step?
Step 2: Prepare Contracts
The Buyer and Seller sign an initial contract, and the buyer pays the initial deposit. Once the initial contract has been signed, a three day attorney review period begins. Both parties are given three days to have their respective attorneys review the contract. Although the contract you have already signed may become binding, you are within your rights to have your attorney propose revisions or even cancel the contract during the three day attorney review period. If the contract is amended by either party’s attorney, the parties must agree on any changes made, and if they cannot the deposit is returned. This is the most important step in the process and far too important to undertake without legal representation.
Step 3: Inspections
Once the initial contract has been agreed upon, reviewed by both attorneys and
signed, a property inspection period begins. The buyer will likely hire a professional home or property inspector, who will look for things such as:
- The presence of wood-destroying insects such as termites or carpenter ants
- Structural defects of the home or property including the foundation, the roof, and structural support integrity
- Problems with important systems such as heating, cooling, electrical, and plumbing
- Proper functioning of major appliances
- The presence of dangerous molds, contaminations, or radon gas
- Potability of the water, and septic system integrity (if applicable)
If the inspection reveals any major issues, the buyer and seller will try to resolve them through their respective attorneys, either by negotiating a repair credit or requiring the necessary upkeep and repair work to be performed prior to the sale of the property. If they cannot come to an agreement regarding the defects found, the contract can be canceled and the deposit returned. Many deals fall apart in this
process due to a simple lack of representation or experience in the negotiations. You can avoid this pitfall by having an attorney in your corner.
Step 4: Financing
Prior to shopping for any Property it is well advised to formulate a budget. As a Director with Liberty Bell Bank/The Bank of Delmarva and Partners Bancorp, James A. Tamburro, Esq. can put you in touch with the right people to discuss financing before the contracts are signed. It is well advised to have your financing lined up well in advance of the contractual deadlines.
Step 5: Title
The next step in the process is a title inspection. Both attorneys will make sure that there are no municipal or zoning restrictions which might limit the normal use of the property. They will also ensure that the property does not have any liens attached to it. Finally, a general survey of the property will be conducted to ensure the lot’s size and dimensions are what the parties agreed upon, and that there are no issues with property lines or violations of city ordinances. These are legal issues which require the participation of all parties and are best handled through an experienced attorney.
Step 6: Closing
Assuming all of the above have been successfully completed, the buyer and seller will attend the real estate closing, also known as the real estate settlement. Here, the buyer’s attorney will review all loan documents and closing materials. The seller’s attorney prepares the Deed and Affidavit of Title, reviews all documents related to the release of the Mortgage and the final disbursement of proceeds. Experienced attorneys work out all issues ahead of closing to ensure a pleasant experience. A lack of representation can result in last minute issues arising which could delay the process and in some cases even lead to termination of the deal. Do not risk jeopardizing your transaction by attempting to handle the transaction alone. Call Tamburro Law Offices as soon as you begin the process of shopping for real estate.
“The house you looked at today and wanted to think about until tomorrow may be the same house someone looked at yesterday and will buy today.”
-Koki Adasi
CONTACT TAMBURRO LAW OFFICES TODAY
As you can see, a great deal goes into the purchase or sale of a property. There are multiple opportunities where something can go wrong, and having an experienced real estate attorney to protect your interests during the entire process can be of enormous value. At Tamburro Law Offices, we understand that real estate transactions can be expensive, and we are sensitive to the financial needs of our clients. We are a small, efficient law firm, which allows us to offer an exceptional level of personal service at a reasonable rate.
If you are considering buying or selling a home or commercial property, our conveniently located offices are ready to begin protecting your interests today. To learn more about our firm and how we can help you to engage in successful real estate transactions, we encourage you to contact us online, or call our office at (856) 906-2790.