Barbara Strapp Nelson, Shareholder and member of Stark & Stark’s Real Estate Group, authored the article “When Is a Real Estate Contract Binding?” published on June 12, 2013 in U.S.1.
The article discusses when a signed contract is not a binding contract in New Jersey. M. Nelson talks about the “Attorney Review Period,” which delays contracts from being binding until three days after the contract is signed. This review period commences with the day following delivery of the fully signed contract to the buyer and seller, not including weekends or legal holidays.
Ms. Nelson explains, “The three-day attorney review period also applies to realtor-prepared amendments that materially modify a contract subject to the review period.”
To read the full article, click here.
