Real Estate Lawyer – Anthony J. Vignier, Esq.

Real Estate Lawyer

An Experienced Real Estate Lawyer

With over twenty-three years of real estate experience representing individuals, developers and investors in real estate, Anthony J. Vignier, Esq. can apply his extensive knowledge about property rights, real estate issues, financing and business to help you in your real estate matter.

Anthony J. Vignier, Esq. can provide you with guidance and help you with:

 

  • Residential Home Purchases And Sales
  • Commercial Property Transactions
  • Condominium Law
  • Landlord-Tenant Disputes
  • Evictions
  • Eminent Domain
  • Zoning, Land Use And Building Permits
  • Boundary And Easement Disputes
  • Title Disputes

 

 

Real Estate Transaction Attorney

From offer to sale, Anthony and his team can handle all aspects of buying and selling real estate so that you can feel confident about your transaction.  From start to finish your transaction and all related questions will be handled by the attorney.   When you call his office Anthony J Vignier, Esq. will speak to you or return your call.

Real Estate Litigation Firm

Unfortunately, at times, when all else fails parties must turn to the courts for resolution. Real estate litigation requires substantial knowledge about property laws and civil litigation. Anthony J Vignier, Esq. possesses the specialized knowledge necessary to successfully litigate your real estate disputes.

Frequently Asked Questions About Real Estate Transactions

What do I do when I received the fully signed contract?

Have your realtor send the fully signed Contract to your attorney immediately.  It is also important to call your attorney to retain them.  The Attorney Review period expires 3 business days after the Realtor Contracts have been signed.  During this time, changes can be made to the Contract.  Once both parties sign off on the changes, Attorney Review ends and the Contract is finalized.

There are still three (3) contingency provisions in the Contract that protect the buyer and their deposit.  These are the Home Inspection, Mortgage Commitment and Title contingencies.  If these contingencies are not satisfied, the Buyer can cancel the Contract and have the deposit returned.

What are the costs associated with buying a home and what do I have to do as a buyer?

In general the costs involve the attorney fee, mortgage costs, Inspections, Title Search and Insurance, Survey, and Recording Costs.

Inspection of the home should be scheduled right after the attorney review period ends.  You should speak with 2 or 3 inspectors, choose one and have the inspection done within the time frame allowed in the Contract.  This cost will be paid directly by you.

The costs of the inspection will depend on what kind of inspections are required.  Usually the minimum will be a Structural, Radon and Termite inspection.  If applicable, you may also need to have the Well/Septic and Oil Tank inspected.

You must have a copy of the Inspection Report sent to your attorney’s office with the timeframe of the inspection period and then call to discuss any problems indicated in the report. We will then send a letter asking the sellers to address the problem.

Mortgage –  During the inspection, if not immediately after, the buyer must apply for their mortgage. Your lender will require your most recent pay stubs last year’s tax return and personal information regarding credit scores and employment as well as a list of your current assets and liabilities. You must be prepared to provide all of this information so that the lender can make a decision on your loan as soon as possible.   Once the lender approves your loan they will issue a mortgage commitment which in essence specifies the terms and conditions of the mortgage to be issued at the time of the closing.  You should review the mortgage commitment carefully to verify that it represents the loan amount and interest rate that was discussed and agreed to.

Once the Inspection issues are resolved and you have obtained a mortgage commitment, our office will order the Title Search and Survey.

A Title Search is obtained to insure that you have clear legal title to the property.  This means verifying that the Sellers have no judgments, liens or loans against property. If there are, the Sellers have to clear those issues prior to closing.  Upon obtaining the title search, Anthony J Vignier, Esq. will review the title search and then submit it to your mortgage company.  The Title Search and Insurance Policy cost is regulated by the State of New Jersey, and is based upon the purchase price of the home.  This cost will be paid at closing.

A Survey is required by mortgage companies and draws out the legal boundaries of the property being purchased.  This cost is also be paid at closing

Recording Costs are mandated by the State of New Jersey, depending on the length of the documents, and are incurred for recording your Deed, Mortgage and Second Mortgage if applicable.  These costs are also paid at closing.

What are my responsibilities as a seller?

You will need to make your home accessible for the Buyer to have the Inspection and Appraisal done.

You are also responsible to obtain a Smoke Detector Certificate and Carbon Monoxide Certificate and proof of one fire extinguisher as required for sellers per your municipality.  You can contact your municipality or your realtor for assistance regarding the requirements specific for your town, since many towns also require a Certificate of Occupancy.  Make sure you call at least 3-4 weeks before your closing and have the required number of working smoke detectors and a carbon monoxide detector before your scheduled inspection.  It is imperative that you obtain these certificates, as you cannot close on your home without them.

As it gets closer to the closing, it is also your responsibility to order a final water reading, oil tank dipping (if applicable) and have your gas and cable companies switched to the buyer’s name as of the date of closing.

Other expenses which you have paid through a date beyond the closing, such as taxes and sewer, will be pro-rated to you at closing.  If you are not current on your taxes and sewer charges, these will be adjusted at closing.

What happens at the closing?

Typically a few hours prior to closing you will do a walk-through of the property to confirm that the sellers have removed all of their personal belongings and not caused any damage to the property during the move.

The closing usually takes place at the office of the buyer’s attorney or their title company’s office. All parties whose name will be on the Title and Mortgage need to be present.  The Buyer may have to bring a certified, bank or cashier’s check for costs not covered by the mortgage.  This amount will be told to you prior to the closing.  The Buyer then reviews and signs the mortgage and other closing documents with his attorney.

Buying new construction?

There are a few points to know:

  1. Typically, you do not have to worry about an inspection.
  2. If you are getting a loan, it is a good idea not to lock into a mortgage commitment until the construction nears completion which in many cases can take several months depending on the phase of construction.
  3. Once construction nears completion things relatively quickly and loan has to be ready for closing.  This is because once the Certificate of Occupancy is issued, the Closing typically takes place within 14 days.  The Closing is usually held at the office of the attorney for the builder.
  4. Even though the Certificate of Occupancy is issued, there may still be some minor work for the builder to complete.  Before the Closing, a Punch List will be prepared between the parties for the builder to complete the work within 30 to 45 days after the closing.  A new construction buyer cannot usually hold an escrow for the punch list items.
  5. The builder must also provide a 10 year new homeowner’s warranty.  As with any warranty, please read this one carefully to see what is covered.

To discuss your options with an experienced real estate lawyer, call the Law Office of Anthony J. Vignier today at 800-707-5252!