Howes & Howes, Attorneys at Law

December 28, 2004

You’ve just signed a contract to buy the home of your dreams.  You need an attorney quickly. Howes & Howes brings years of banking and real estate experience to the closing table.  Our fresh perspective and straight forward approach will help you get the most out of your important transaction.  This article contains questions clients ask most frequently.

1.  What is the attorney’s fee for a closing?

Howes & Howes charges a flat fee that is payable through the closing.  You do not pay up front.  Contact our office to inquire about our current legal fee.

2.  What other costs are there for buyers?

There are costs and fees related to the loan.  There are filing fees payable to the County Clerk or Recorder for the filing of the Mortgage, Deed and Notice of Settlement.  There is the title insurance premium, payable to the title company.  (See question 3 below) There are express mail expenses for overnight delivery of your closing package.

3.  Do I have to get title insurance?

If you are purchasing the home with the benefit of a purchase money mortgage, then the lender will require that you obtain title insurance.  The premium for title insurance is set by New Jersey law, and is related to the amount of the loan and the value of the property.

4.  When do I contact an attorney?
Once all of the purchasers and all the sellers have signed the contract, the attorney review period starts.  (See related article.) It is best to choose an attorney while you are shopping for a new home so that you can get the contract to the attorney once it is fully signed and witnessed.

See other articles in this category for useful information.

If you need legal help in matters similar to those described in this document, call Howes & Howes for a prompt, confidential consultation.

Howes & Howes

26 Anderson Street

Raritan, New Jersey 08869

Telephone: (908)704-0037

email: info@njcases.com