Real Estate Contracts

Real Estate Contracts

Real estate contracts in New Jersey are legally binding agreements between a buyer and seller for the purchase or sale of real property. These contracts outline the terms and conditions of the transaction, including the purchase price, deposit, closing date, and any contingencies or conditions that must be met before the sale can be completed. In NJ, real estate contracts must be in writing and signed by both the buyer and seller to be enforceable. They may also include additional provisions, such as home inspection contingencies, financing contingencies, or seller disclosures. The NJ standard form real estate contract is the "New Jersey Realtors® Standard Form of Real Estate Contract." This form is used by real estate agents and brokers to facilitate the sale of residential real estate. It's essential to carefully review and understand the terms of any real estate contract before signing it. If you have questions or concerns, it's a good idea to consult with a real estate attorney who can help you navigate the legal aspects of the transaction and ensure that your interests are protected.