Real Estate Closings in New Jersey: Does It Matter If It’s North or South Jersey?
If you are buying or selling real estate in New Jersey, it’s important to consider whether you are closing the sale in North or South Jersey. Keep some key differences in mind if you want to move forward without unneeded complications. This article explains the differences and how the Craig Annin & Baxter Law Office can help.
North Jersey If you are buying or selling property in North Jersey, real estate lawyers handle almost every part of the process. They draft and review the sales contract to make sure everything is correct before allowing the sale to move forward. In addition to preparing the contract, lawyers in North Jersey also conduct the title search and prepare the deed. A lawyer will even handle all of the money after closing the deal. For example, lawyers give payments to mortgage holders, the homeowner’s association and utility companies. The seller submits the payment to the lawyer’s trust account, and the transaction can take several days to process. This delay means that the buyer and other invested parties won’t get their money right away.
South Jersey Real estate lawyers operating in South Jersey work with title companies when closing the sale. Title companies perform the title search and manage each step of the transaction. Since title companies keep funds in their account at all times, they can distribute payments before the transaction completes. In other words, everyone gets their check before leaving the settlement table. Although title companies charge a fee for their services, it is worth it because title companies simplify the process and ensure that everyone gets paid on time. Not everyone, however, agrees with South Jersey’s real estate practice. The South Jersey practice was once challenged as an unauthorized practice of law, but the New Jersey Supreme Court ruled in favor of South Jersey’s practice.
Getting the Legal Help You Need No matter if you are closing a sale in North or South Jersey, you need a qualified legal expert in your corner. Your lawyer can give legal advice, draft legal documents and protect your legal interests each step of the way. Get started right away by contacting the Craig Annin & Baxter Law Firm.
CASE NOTES – COMMENTARY ON NEW DECISIONS
There is a newly published case in New Jersey reversing a summary judgment granted to the dram shop defendant where the trial court erred in holding that the absence of eyewitness testimony that the driver was served while visibly intoxicated was fatal to the dram...
NEW JERSEY CONTEMPLATES AN ADDITIONAL CAUSE OF ACTION FOR CLAIMANTS SUBJECTED TO UNFAIR CLAIM PRACTICES
The tens of thousands of property and casualty claims related to Sandy’s wrath, along with the thousands of complaints state regulators, legislators, and the Governor’s office have received from frustrated claimants, have resulted in proposed legislation and...
FACTORS TO CONSIDER WHEN CHOOSING YOUR OWN HEALTH INSURANCE
WHAT TO LOOK FOR WHEN BUYING YOUR OWN HEALTH INSURANCE If you are self-employed or do not have health insurance coverage through your employer, you may be uncertain exactly what you need to consider when shopping for health insurance. Here are the key factors to look...
STRENGTHENING THE SPECIAL INVESTIGATIONS UNIT – OUTSIDE COUNSEL PART I
PARTNERSHIP – INCREASING EFFICIENCY AND EFFECTIVENESS The standard model of the Special Investigation Unit (“SIU”)/Outside Counsel partnership is what you could describe as the box model; the investigators for the SIU unit do their investigation and prepare their case...
FEDERAL ANTI – FRAUD EFFORTS GET ADDED ATTENTION
U.S. Attorney General Eric Holder followed up on President Obama’s tough stance on health care fraud on the campaign trail with news of a new enforcement action in which 91 defendants – including doctors, nurses, and hospital officials – were charged in health care...
THREE THINGS GOVERNER CHRISTIE AND THE STATE LEGISLATURE CAN DO TO REDUCE THE EXPENSE OF STATE EMPLOYEE HEALTH COVERAGE
Three things Governor Christie and the state legislature can do to reduce the expense of state employee health coverage, without compromising the quality of health care provided, include the following: Amend the Insurance Fraud Prevention Act; N.J.S.A. 17:33A-1 et...
TRIAL ATTORNEYS IN HADDONFIELD, NEW JERSEY
When you have unresolved legal problems, you want a legal team that will carefully review the facts and circumstances of your case and help you understand all your options. You also want lawyers who will listen closely to determine your individualized objectives, who...
HADDONFIELD CIVIL LITIGATION ATTORNEYS
If you need representation or advice in a civil matter or municipal court traffic matter it is imperative you move quickly to retain responsive, skilled and assertive lawyers to protect your interests. The trial process can be complex and daunting. You want attorneys...