REAL ESTATE CLOSINGS

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PURCHASING YOUR HOMEReal Estate Purchase

Every home purchase is unique, however, the fundamental phases are typically as follows:

1. In New Jersey, a Buyer makes an offer on a property by signing and submitting a proposed Contract to the Seller. If the Seller accepts the offer, the Seller countersigns the Contract and returns same to the Buyer. 

2. It is important to retain Michalski-Ottens Law to review the Contract. Contact Michalski-Ottens Law by calling 973.248.3389 or email us at olivia@ottenslaw.com as soon as you receive a fully executed Contract. 

3. Once we receive the signed Retainer, we can begin our representation of you. We will review the fully executed Contract, send a letter to the Seller’s Attorney proposing changes to the Contract and negotiate such changes until a final agreement is reached. 

4. You should submit your mortgage application to obtain your mortgage commitment. This can be an extensive process so it is important to start early and work closely with your lender. 

5. After the attorney review period concludes, performing home inspections will be next on the list. Should an inspection reveal issues with the home, we will help negotiate any repairs or credits.

6. After the home inspections, Michalski-Ottens Law will order title to ensure the Seller provides you with “clear and marketable” title to the subject property at closing. 

7. Finally, Michalski-Ottens Law will prepare for closing and assist you in satisfying the lender’s conditions for final loan approval and clearance to close and will coordinate the scheduling of a mutually convenient closing date with all parties. 

Contact Michalski-Ottens Law today by calling 973.248.3389 or email us at olivia@ottenslaw.com. We cannot wait to welcome you home!

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SELLING YOUR HOMEReal Estate Sale

When selling your home, there are phases a Seller goes through and we are here to guide you along.

1.When the offer comes in from the Buyer and is acceptable to you, countersign the Contact and return same to the Buyer. 

2. Contact Michalski-Ottens Law after you countersign the Contract.  Give us a call to retain us at 973.248.3389 or email us at olivia@ottenslaw.com

3. Once we receive the signed Retainer, we can begin our representation of you. We will review the fully executed Contract, send a letter to the Buyer’s Attorney proposing changes to the Contract and negotiate such changes until a final agreement is reached. 

4. Buyer will apply for a mortgage and begin the inspection process. 

5. You will be required to provide Buyer with a Certificate of Continued Occupancy or Smoke and Carbon Dioxide Detector Certificate.  We are here to help you obtain said certificates and can guide you along should any issues arise. 

6. Buyer will order Title and once we receive a copy, we will work with you and the title company to make sure there are no title defects.

7. Michalski-Ottens Law will contact your lender for payoff information that will allow your mortgage, if any, to be paid off at closing.

8. Finally, Michalski-Ottens Law will prepare for closing by preparing the legal documents required for the transfer of title and assist you in satisfying any other outstanding items. Michalski-Ottens Law will coordinate the scheduling of a mutually convenient closing date with all parties. 

Contact Michalski-Ottens Law today by calling 973.248.3389 or email us at olivia@ottenslaw.com. We are here to help you navigate through the phases of selling your home. 

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