In New Jersey real estate—including New Brunswick's balanced market—the terms "attorney review" and "under contract" represent distinct phases that protect buyers like you. I have guided hundreds through these steps, understanding the difference prevents surprises in your home purchase.
Attorney Review: This unique NJ protection starts when both parties sign the initial contract (prepared by a realtor). It lasts three business days (excluding weekends/holidays), allowing your attorney to review, negotiate changes (e.g., contingencies, repairs), or disapprove/cancel without penalty. If no issues arise, the period ends automatically.
Under Contract: Once attorney review concludes without disapproval, the deal becomes fully binding—"under contract." You're committed: Deposit is at risk, inspections/appraisals proceed, and backing out costs money unless contingencies (e.g., financing) fail.
This 3-day window gives crucial flexibility. Post-review, focus shifts to due diligence.
Call (732) 344-0701 for peace of mind.
