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Old 04-27-2021, 12:54 PM
 
Location: Columbia, SC
9,936 posts, read 19,528,824 times
Reputation: 8305

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Quote:
Originally Posted by Mightyqueen801 View Post
I am in the process of selling a house in NJ. Offer was accepted a week ago today. Yesterday my attorney sent the contract back to me asking me to initial a handwritten amendment (that made sense having to do with taxes on the property) and sign, and she said that when I sent it back to her she would send it to the buyer's attorney and that would end attorney review. So, one week.
Who wrote the contract and was it a template, fill in the blank form? Just curious.

For residential sales in SC attorneys handle the closing but agents write the contracts on template forms and addendums. The attorney orders titlework, sets up the title insurance, oversees signing of closing docs, issues payouts, and records the deed. Agents write contracts and addendums, handle any negotiations and requests, schedule the closings, etc.
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Old 04-27-2021, 12:54 PM
 
Location: under the beautiful Carolina blue
20,460 posts, read 30,545,815 times
Reputation: 16446
If the seller signed the contract the buyer should have at that same time. There's nothing for the seller's attorney to review once the seller signs. The OP doesn't make any sense unless THEIR attorney has it. But the OP hasn't been back so I guess this is a cliffhanger driveby.
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Old 04-27-2021, 12:57 PM
 
223 posts, read 111,318 times
Reputation: 319
Attorney review is usually 3 business days, or whatever is stipulated in the contract or addendum. Oftentimes, the attorneys will grant each other an extra day or two if mutually agreed. Unless you stipulated it in the contract that the home cannot be marketed during AR, home can absolutely continue to be shown during AR. Put yourself in the sellers shoes..what happens once the home goes into AR and the buyer gets buyers remorse and kills the deal?
As a seller who in their right mind in this hot market would want to shut down showing during AR?
Strike while the iron is hot!
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Old 04-27-2021, 08:36 PM
 
Location: Needham, MA
7,330 posts, read 11,251,298 times
Reputation: 6379
Quote:
Originally Posted by MikeJaquish View Post
New Jersey.
Attorneys have done a better job of defending their franchise in NY and northern NJ.
They get into the process and make everyone sweat bullets with variations of contracts rather than cut and dried process.
Quote:
Originally Posted by Brandon Hoffman View Post
I can't imagine being stuck in an area like that were attorneys have so much power to control the process. Maybe 8 or 10 years ago we had an attorney appointed head of the LLR and she started dabbling with the REC, wanting to pass a law that attorneys had to write RE contracts. She was wildly unpopular with many of the departments and didn't last long. Fortunately that never went anywhere. I think we just have too many attorneys in positions of influence these days. I'd rather have more job and background diversity for different perspectives. Sorry, that's off topic I know. Rant over.
I deal with attorneys all the time. Like real estate agents, garbage men, plumbers or anyone else in any other walk of life many of them are TERRIBLE. I had an attorney call me recently about a listing i had (he was helping some guy who was representing himself although he was licensed he clearly had NO idea what he was doing). This guy was completely nuts and freaked his client out over the two week Use & Occupancy agreement my clients were asking for. "What if they don't move out????" Yup. These guys were putting their near $2M house on the market so that they could become squatters.

The worst part about attorneys in MA is that they can fill out a form and send it in to the state and they'll get in the mail a BROKER's license. Yup with no pre-licensing education, no licensing exam to confirm knowledge, no requirement for continuing education, and no requirement for supervision an attorney in MA can create their own brokerage. It's always struck me as completely irresponsible.

Luckily, in MA the offers are binding contracts and their templates that agents fill out. We have a second contract in our process called a Purchase & Sales Agreement which the attorneys write but it's based on the offer the agents agreed to so the attorney's usually can't muck it up. My understanding is that in NY and NJ it's different because an accepted offer is not a binding contract down there.
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Old 04-28-2021, 08:27 AM
 
Location: Columbia, SC
9,936 posts, read 19,528,824 times
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Quote:
Originally Posted by MikePRU View Post
I deal with attorneys all the time. Like real estate agents, garbage men, plumbers or anyone else in any other walk of life many of them are TERRIBLE. ...
The worst part about attorneys in MA is that they can fill out a form and send it in to the state and they'll get in the mail a BROKER's license. Yup with no pre-licensing education, no licensing exam to confirm knowledge, no requirement for continuing education, and no requirement for supervision an attorney in MA can create their own brokerage. ...
I used to be, like so many others, intimidated by attorneys. Then I realized I was actually more intelligent and more intuitive than many of them after some dealings. I don't know the law better in their expertise, but I'm certainly not intimidated of them anymore. In fact, I've chewed a few out here and there over the years. On the flip side, 2 of the smartest guys I know are attorneys. They are both brilliant individuals.

SC also allows attorneys to just mail in and get a license. That's what happens when the majority of lawmakers are lawyers.
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Old 04-28-2021, 08:30 AM
Status: "Talking to ghosts" (set 18 days ago)
 
Location: Coastal New Jersey
69,186 posts, read 64,574,078 times
Reputation: 85423
Quote:
Originally Posted by Brandon Hoffman View Post
Who wrote the contract and was it a template, fill in the blank form? Just curious.

For residential sales in SC attorneys handle the closing but agents write the contracts on template forms and addendums. The attorney orders titlework, sets up the title insurance, oversees signing of closing docs, issues payouts, and records the deed. Agents write contracts and addendums, handle any negotiations and requests, schedule the closings, etc.
Lawyers write the contracts and do all the other things you mention in your last sentence. Did you miss the part where I said I was in New Jersey?

Lawyers write contracts, run the state government, use buddy lawyers to get themselves out of trouble when their misdeeds while in office are brought to light...

I may have spoken too soon about the ease of the process. Got an email from the lawyer this morning asking if I am available for a call to discuss the house sale. Sounded ominous to me. It's been more than half an hour and still no call.
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Old 04-28-2021, 08:37 AM
Status: "Talking to ghosts" (set 18 days ago)
 
Location: Coastal New Jersey
69,186 posts, read 64,574,078 times
Reputation: 85423
Quote:
Originally Posted by Brandon Hoffman View Post
I used to be, like so many others, intimidated by attorneys. Then I realized I was actually more intelligent and more intuitive than many of them after some dealings. I don't know the law better in their expertise, but I'm certainly not intimidated of them anymore. In fact, I've chewed a few out here and there over the years. On the flip side, 2 of the smartest guys I know are attorneys. They are both brilliant individuals.

SC also allows attorneys to just mail in and get a license. That's what happens when the majority of lawmakers are lawyers.
Ha, love this. I spent my life working for a public agency dealing with contract documents, so I had to work with lawyers all the time. I am not intimidated by lawyers, either.

A few times when a proposer requested a change to the standard contract language as part of a negotiation, I wrote up the proposed clause myself and sent it on to our lawyers for approval. It was always gratifying when the lawyers accepted my writing when I am an undereducated nobody.

I just want to sell my late mother's house as quickly and hassle-free as possible, distribute the estate, and get back to my life.
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Old 04-28-2021, 11:54 AM
 
2,048 posts, read 1,436,732 times
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I've purchased and sold real estate in both NJ and NY. I like the NY system better. In NY, you make an offer, seller accepts, then you inspect, then you do contracts. The first "acceptance" is more like an acceptance in principle- nothing is binding until after inspections. The only thing left that can kill a sale is the mortgage/appraisal.

In NJ, buyer sends an offer that is a fully binding contract. Seller signs this fully binding contract to accept. Then attorneys write a new contract by first off rejecting the entire first contract, then modifying it. After 1-10 days of back and forth, you finally have a contract. Then, inspections start. Inspections kill more deals than appraisals, so it's a waste of time and money to get the lawyers involved too early.

Anyway, "attorney review" is another way of saying "no contract yet" in NJ. It's dumb. Seller can take any other offer during this time, for any reason whatsoever.
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Old 04-28-2021, 12:46 PM
 
Location: NYC
15,984 posts, read 24,001,738 times
Reputation: 24563
Attorney review in NJ is usually a few days. What does your attorney say why you are still in review?

This is when you get the inspection done and negotiate what you want fixes, agree and ,I’ve forward. Is this being done?
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Old 04-28-2021, 03:54 PM
 
Location: Columbia, SC
9,936 posts, read 19,528,824 times
Reputation: 8305
Quote:
Originally Posted by Mightyqueen801 View Post
Ha, love this. I spent my life working for a public agency dealing with contract documents, so I had to work with lawyers all the time. I am not intimidated by lawyers, either.

A few times when a proposer requested a change to the standard contract language as part of a negotiation, I wrote up the proposed clause myself and sent it on to our lawyers for approval. It was always gratifying when the lawyers accepted my writing when I am an undereducated nobody.

I just want to sell my late mother's house as quickly and hassle-free as possible, distribute the estate, and get back to my life.
It's always funny to me when someone threatens to speak with an attorney, in an attempt to bully or intimidate, and my response is "Go ahead. While you're there just give them my cell phone number and ask them to call me." They never expect that reply.

So far, it's actually happened 3 times I got a call. First time, after hearing the facts and my documentation, the attorney said "Thank you and have a nice day." and I never heard from the buyer, attorney, or agent about it again. Second time we mediated with a tenant and then terminated his lease at the end. That was about him breaching contract, but we allowed him to stay contingent on him making some changes. Third time we went to court and successfully evicted the tenant for nonpayment.
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