​​​​J. GRAHAM REALTY, LLC

J. Graham Realty, LLC

Licensed Real Estate Agency In NJ & Florida

ATTORNEY REVIEW PERIOD:

  • Both parties come to terms and the contract is signed by both parties.
  • Contract is sent to both the seller’s and buyer’s lawyers for the attorney review period.
  • The attorney review period takes a few business days, but can sometimes take longer.
  • The house is not under contract while in attorney review so seller can receive offers from other potential buyers.

CONTRACT NEGOTIATION PERIOD:

  • Initial offer has been made through JGR listing agent.
  • Listing agent will review the price, the terms (occupancy date, property inclusions/exclusions mortgage contingency etc…) and confirms that the buyer is prequalified (letter of prequalification or proof of funds - bank statements if all cash offer).
  • JGR agent will forward the offer to the seller for their review and discussion. If the offer does not meet sellers price and/or terms, then a counter offer is made.
  • Both parties negotiate through their agents by sending counter proposals.
  • Attorneys are not involved with this process.
  • Once both sides agree to the price and terms, the revised offer contract is signed and initialed by both parties and it goes into the attorney review period.
  • The property is not under contract so seller can receive offers from other potential buyers.

RECEIVING/NEGOTIATING AN OFFER

The buyer through their agent makes an offer to buy seller’s house through the JGR listing agent.  There are many things that the listing agent has to anticipate in order to stay on top of the process.

4 Perry Street
Morristown, NJ 07960
(o) 973.540.1232
(f) 973.540.0008