Legal Question in Real Estate Law in New Jersey

Attorney Review Period

As long as an attorney rejects the contract consistent with the terms of the Attorney Review Clause, you are able to back out of the contract. Be sure to act immediately, because there are strict time frames and technical requirements that, if not followed, would negate your ability to reject the contract.

SEE AN ATTORNEY IMMEDIATELY!!!

Good luck! Rob Gleaner

Re: Real Estate

I agree with Mr. Gleaner. In particular, note that it must be an attorney who reviews and rejects the contract. You cannot withdraw the contract yourself and you cannot review it yourself and still comply with the statute on attorney review.

The larger problem may be with your realtor. If you effectively reject this contract and withdraw from the market, you may wind up owing the realtor a commission for the sale even if it doesn't take place. Let your lawyer also review the contract that you have with the realtor to see if you have a problem.

If the contract of sale contains a clause limiting your cost of repairs, it may be even better for you to try to complete the sale. If the tank is sound and has not resulted in pollution, you might be able to pass the responsibility for removal along to your seller. You must do this very carefully though because, if there is a current pollution problem, you will still be responsible for cleanup.

You can't do this yourself. My firm handles matters of this type, however it may be easier for you to work with a lawyer whose office is closer to you. If I can be of further help to you, call or email.

See also: http://info.corbettlaw.net/lawguru.htm