Purchase of a home in New Jersey is more complex than in many other states. As attorney for the Purchaser, the following services are provided:
Review of Contract and preparation of attorney review modifications as provided for by New Jersey Law.
Negotiation of repair issues raised by the home inspection.
Closing the Mortgage, which includes all back and forth communication with the Lender regarding their requirements.
Obtaining and reviewing the title search and title insurance binder.
Obtaining a survey if required.
Coordinating and scheduling the closing with all parties. Attendance at the closing.
Post-closing filing of documents, paying off open Mortgages and returning complete package to Lender.
There is a flat fee for this service, which depends upon Lender requirements and the location of the closing. The fee includes all overhead costs except printing of the Lender closing package, which is usually 100 or more pages. There are no ad-ons to outside services billed by others such as title search, title insurance, recording fees and surveyor fees. All are passed through at their exact cost. Some law firms add on to these costs and charge separately for overhead costs such as phone calls, faxes, secretarial time, etc.
There is a flat fee for a home sale, which is less complex than a purchase and has a lower fee, based upon the location of the closing, which is normally at the Buyers attorney office. The fee includes attorney review, negotiation of home inspection issues, document preparation and attendance at closing.
These are billed at a flat rate equal to what a licensed title insurance agent is authorized to charge.
The fee is negotiable depending upon the type of property and the complexity of the issues involved.
Zoning & Planning
The fee is dependent upon the type of application, the legal issues involved and the projected number of board meetings that will be required.