NJ Attorney Review: Princeton Buyer’s Guide

Have you heard that New Jersey gives you only three business days to have an attorney review your purchase contract? If you are buying in Princeton, that short window can feel intense, especially if you are balancing travel, work, or a relocation schedule. The good news is that with a clear plan, you can protect your interests and keep your timeline on track. In this guide, you will learn how New Jersey’s attorney review works, how it fits into a typical Princeton transaction, and simple steps to avoid delays. Let’s dive in.

What attorney review means in NJ

New Jersey residential purchase contracts commonly include an attorney review clause. After you and the seller sign the contract, each side has a short period to have an attorney review it. During this time, your attorney can approve the contract, propose changes, or cancel it.

The practical effect is important. Until attorney review ends or is waived in writing, either party can rescind the contract by written notice from their attorney. If the contract is voided during review, the deal is nullified and deposits are generally returned according to the contract’s escrow provisions.

Attorneys typically use this window to fine-tune terms and reduce risk. They may adjust inspection and financing contingencies, clarify what stays with the property, set clearer dates, and address title or survey issues. If you and the seller agree on any proposed changes, you sign the amendment and continue.

When the three-day clock starts

The standard attorney review period is three business days. Business days usually exclude weekends and state or federal holidays. The clock typically starts from the date of final signatures or from delivery of the fully executed contract, depending on the form used.

Because signatures are sometimes collected at different times, it is smart to confirm in writing the date the contract became fully executed and delivered. That prevents confusion about when the countdown began. If more time is needed, your attorney can request a written extension that both sides must sign.

You can also waive attorney review or shorten it by written agreement. Some buyers consider this in competitive situations, but it removes a valuable safety window. Talk with your attorney and agent about the pros and cons before agreeing to a waiver.

Where review fits in your timeline

Here is the typical sequence after an accepted offer in Princeton:

1. You sign the contract and deliver it to both attorneys. Attorney review begins.
2. Within three business days, the contract is approved as is, amended by agreement, extended by written agreement, or voided.
3. Once review ends and the contract is binding, you move into contingency tasks like inspections, title work, mortgage underwriting, and appraisal.
4. You negotiate any inspection items, continue with underwriting, and work through appraisal.
5. You complete pre-closing steps such as the final walk-through and closing disclosures.
6. You close, funds are disbursed, and you receive keys.

Common timeframes after attorney review:

• Home inspection: often scheduled within 3 to 10 days after the contract becomes binding. Reports usually arrive within 1 to 3 days.
• Mortgage underwriting and approval: typically 30 to 45 days, depending on lender and loan type.
• Appraisal: often 7 to 14 days after ordered, though it can take longer during busy seasons.
• Title search and commitment: commonly 1 to 3 weeks, with more time for complex properties.
• Overall closing: many buyers in New Jersey close within 30 to 60 days of an accepted offer, with timing influenced by financing and seller needs.

Some buyers wait to spend money on inspections until review ends because the contract can still be canceled during that period. To save time, you can line up inspectors and other vendors in advance so you are ready to go the moment the contract becomes binding.

Princeton-specific considerations

Princeton’s housing stock includes many older and historic homes. Age adds character, but it also raises the likelihood of items your inspector and lender will care about, such as lead-based paint, older wiring, older mechanical systems, underground oil tanks, and possible asbestos-containing materials. You may want specialized inspections or consultants for these items.

Parts of Princeton fall within historic districts or involve landmarked properties. Exterior changes may require approvals and permits. If you plan to renovate after closing, consider the extra time that preservation and permitting steps can add.

You will also find a mix of single-family homes, townhomes, and condominiums. If you are buying a condo or a home in an HOA, build time into your contract for association document review. Turnaround times vary, and you will want to read budgets, rules, and upcoming projects.

On the practical side, Princeton is a competitive market for inspectors and appraisers during peak season. Schedules fill quickly. Pre-arranging an inspector and any specialists can help you meet your contingency deadlines.

Finally, older parcels can bring title questions such as old easements, unclear lot lines, or long-standing encroachments. Early attention to title and a survey can prevent last-minute delays. Make sure you or your attorney request any prior survey or title information from the seller as soon as practical.

How to avoid delays during review

A little preparation goes a long way, especially with only three business days for attorney review. Use this checklist to stay ahead:

• Retain a local New Jersey real-estate attorney before you make an offer. Local experience matters in Princeton and Mercer County.
• Include a strong lender preapproval letter with your offer. This reduces financing delays and boosts your position.
• Deliver the fully executed contract to your attorney immediately and confirm the final signature date in writing.
• Have earnest money and inspection funds ready. Know who holds the deposit and how wires or checks will be handled.
• Line up your general inspector and any specialists in advance. For older homes, consider radon, lead, chimney, structural, and sewer lateral or septic/well where applicable.
• Request HOA or condo documents promptly if your property is in an association.
• Order a survey early or confirm whether a recent survey exists. This can help resolve boundary questions quickly.
• Coordinate schedules and decision windows with your attorney and agent. Be reachable for quick approvals during review.
• If you must be competitive, consider targeted concessions instead of waiving attorney review. For example, limit cosmetic repair requests while keeping structural and safety items open for discussion.
• Ask about potential title issues common to older homes, and request any available documents from the seller.

Wire transfer safety

Wire fraud is a real risk in today’s transactions. Confirm wire instructions by phone using known, trusted phone numbers. Never rely on last-minute changes received by email without calling to verify. Your lender, attorney, and closing agent will have procedures to keep your funds safe.

Common questions during review

During these three business days, your attorney may propose edits to inspection language, contingency timelines, or inclusions like appliances and fixtures. If both sides agree, you sign an amendment and the deal continues. If you cannot reach agreement, either party may cancel within the attorney review period. If more time is needed to keep talking, both sides must sign a written extension.

If your attorney is unavailable during the window, do not assume silence equals acceptance. Ask your attorney to request an extension in writing before the period ends, and notify the other side’s counsel through your agent so expectations are clear.

Your Princeton game plan

• Before you offer: choose your attorney and lender, and identify inspectors who cover older or historic homes.
• At offer: attach your preapproval and confirm how deposits will be paid. Discuss whether you will request the right to schedule inspections during attorney review to save time.
• During review: respond quickly to your attorney’s questions, sign any agreed amendments, and document any extension if needed.
• After review: execute your inspection plan, stay ahead on loan documents, and monitor title and survey milestones.

Staying organized will help you move from accepted offer to closing on time, even in a busy Princeton season. Having an experienced local advocate guiding your decisions can make the difference between a smooth close and a stressful scramble.

If you want calm, knowledgeable guidance from contract through closing, reach out to Janet Stefandl. With deep Princeton market experience and a relationship-first approach, you will feel prepared at every step.

FAQs

What is New Jersey’s attorney review for a home purchase?

• It is a three-business-day window after both parties sign the contract when each side’s attorney can approve, amend, or cancel the agreement by written notice.

When exactly does the three-day attorney review start in NJ?

• It usually starts on the date of final signatures or delivery of the fully executed contract, excluding weekends and holidays, so confirm that date in writing.

Can I waive attorney review to strengthen my offer in Princeton?

• Yes, you can waive or shorten it in writing, but you lose a legal safety window, so discuss risks and alternatives with your attorney before deciding.

What happens to my deposit if the contract is canceled during review?

• If the contract is properly voided during attorney review, deposits are typically returned according to the escrow terms in the contract.

Do inspections wait until attorney review ends in Princeton?

• Many buyers wait, but you can line up inspectors in advance and, if both parties agree, start certain tasks during review to save time.

What Princeton-specific issues should I plan for during due diligence?

• Older and historic homes may need specialized inspections, HOA or condo documents can take time, and older titles may require surveys or extra review.

Can attorney review in New Jersey be extended automatically?

• No. Any extension must be agreed to in writing by both parties’ attorneys before the original three-business-day period expires.