You made an offer, the seller accepted, everyone signed. Congratulations — you do not have a deal yet.
That’s not pessimism. It’s New Jersey law, and it works to your advantage if you understand it. Attorney review is a three-business-day window that exists almost nowhere else in the country, and it’s the most misunderstood step in buying or selling here.
Why attorney review exists at all
In most states, lawyers draft purchase contracts. In New Jersey, real estate agents prepare them using a standard form from New Jersey Realtors.
Agents aren’t lawyers, so the state Supreme Court created a timeout: a window after signing during which either side can get actual legal advice before the contract becomes binding. State regulation (N.J.A.C. 11:5-6.2) requires the contract to state on the first page that it becomes binding within three business days unless an attorney reviews and disapproves it.
How the three days actually count
The clock starts the business day after both parties have received a fully signed copy — not the day you signed.
Weekends and New Jersey state holidays don’t count. Sign on a Thursday and your window likely runs into the following Tuesday. Sign before a holiday weekend and it stretches further.
During that window, either attorney can do one of three things: approve the contract as written, propose changes, or disapprove it entirely.
The part people don’t realize
Either side can cancel for any reason, with no penalty. Not just for inspection problems or financing trouble — any reason, or none. The buyer’s deposit is returned in full.
That cuts both ways, and here’s the part that surprises buyers: a seller can accept a different offer during attorney review. Because the contract isn’t binding yet, a seller who receives something better can disapprove and move on. It’s uncommon, but it happens, and it’s why you shouldn’t treat a signed contract as the finish line.
The mistake that costs buyers real money
Don’t schedule your inspection, order an appraisal, or pay for anything until attorney review concludes. Attorney review is the first of four places a sale comes apart, and the cheapest one to get through.
Buyers get excited, book an inspector for the next morning, and then the contract gets disapproved. That money is gone. Wait the few days — the inspection clock doesn’t start until you have a binding contract anyway.
The timing quirk worth knowing
Once the first disapproval letter goes out from either attorney, the three-day constraint disappears. Negotiation then continues until both sides agree on final terms.
So in practice attorney review often runs longer than three days — commonly three to seven business days, sometimes more on complicated transactions. The three days are a deadline for starting, not for finishing.
That also means a strict reading of the calendar can mislead you. If your attorney sends a letter on day two, you’re no longer racing a clock.
What to actually use the window for
This is where the terms of your deal get shaped, and most people waste it.
Inspection scope and timeline. Make sure the contract covers structure, roof, electrical, plumbing, heating and cooling, appliances, wood-destroying insects, and environmental items. Near the water, that list should be explicit rather than assumed.
The mortgage contingency. This lets you cancel without losing your deposit if financing falls through. Check the deadline is realistic and the terms match what your lender actually said.
Closing date and occupancy. If you’re selling and buying at once, this is where a rent-back or a contingent closing gets written in. Afterward is too late.
Anything the seller promised verbally. If it isn’t in the contract, it doesn’t exist.
Practical notes
Hire an attorney who does residential transactions routinely. Flat fees for a standard purchase or sale generally run around $1,000 to $1,500 in New Jersey — modest against the size of the transaction and the protection involved.
Line one up before you make an offer. Scrambling to find someone on day one of a three-day window is how people end up with whoever answers the phone.
And respond quickly. Most delays come from one side being slow, not from genuine disagreement.
The bottom line
Attorney review isn’t a formality to wait out. It’s the only point in a New Jersey transaction where the contract is still fully negotiable and either party can walk away clean.
Use it to fix what matters and to understand what you signed. Once those three days close without a letter, the contract is binding as written — and the time for changes has passed.
I’m a real estate agent, not an attorney, and this is general information rather than legal advice. Attorney review rules are set by New Jersey regulation and case law, and every transaction differs — consult a licensed New Jersey real estate attorney about your specific contract.
Shea Merritt is a licensed New Jersey real estate agent with eXp Realty, working with buyers and sellers across Middlesex, Monmouth, and Ocean counties. He grew up in Old Bridge. He writes here about the arithmetic behind a move: what a house would actually bring today, what the tax line does to a monthly payment, and how to compare offers on their terms rather than on the top number. If you are weighing a sale or a purchase, send him the address and he will run the numbers on it.