Commercial & Residential Real Estate

Commercial & Residential Real Estate

Commercial and Residential Real Estate Lawyers New Jersey

Residential Real Estate
For a lot of people the most important transaction that they are going to be involved in their lives is when they are buying or selling a home. It is a period of time that people feel helpless and confused in a process that is so important and exciting. A person can feel overwhelmed in the multitude of documents they are signing. The firm of Kalavruzos, Mumola, Hartman & Lento, LLC will assist you from the execution of the contract to a closing of title. Our experience and expertise in handling these matters will assist you in making this a wonderful and pleasant event.

We represent clients in the purchase or sale of:
• Single Family Homes
• Townhouses
• Condominiums
• Land Parcels
• Investment properties
• New Construction
• Co-ops
Buying Real Estate: What to expect when purchasing real estate:

1) THE CONTRACT/Agreement of Sale (AND ATTORNEY REVIEW): As you enter the market and have found your new home that you wish to buy, you will sign a contract. If the contract is prepared by a New Jersey Licensed realtor, it will be a standard form contract. In the contract you sign and the seller sign from the realtor, language will have a “3-day attorney review period” during which an attorney can make modifications or clarifications to the contract. Also at this time, an attorney may cancel the contract on your behalf if the contract terms meet with your disapproval, and a refund of your deposit will be given. Please be advised that all time periods set forth in the contract very based on the execution date, for instance: home inspection, title report, survey, termite inspection, mortgage contingency, will begin at the end of attorney review. Kalavruzos, Mumola, Hartman & Lento, LLC will make assist in having favorable terms and time frames in your contract.

2) THE HOME/TERMITE INSPECTIONS: It is highly advisable to have the home you are going to purchase inspected by a licensed home inspector. In some cases an inspection will uncover any serious structural, mechanical, or systemic issues with the home and whether they are serious enough to be repaired by the seller. It is recommended for a buyer to attend the home inspection with the home inspection company to observe and understand the concerns the home inspector produces on his report. The firm of Kalavruzos, Mumola, Hartman & Lento, LLC will review the inspector’s report with you, and communicate with the seller’s attorney or seller to make sure that defects are repaired as dictated by the specific terms of the contract. Sometimes the seller will issue a credit to the buyer at closing rather than make the repair. The buyer pays for the cost of the building, termite, or septic inspector.

3) THE MORTGAGE COMMITMENT: The contract will require the buyers to obtain a mortgage commitment within a specified date and a certain dollar amount. Typically, buyers are either prequalified (meaning they have made some application for a mortgage and qualify for some loan programs) or preapproved (meaning that the mortgage company has virtually committed to give you a loan for a certain amount of money without specifying a particular house). It is encouraged by this office to speak to a number of lenders/Banks about rates, terms, and fees. Once a lender has been chosen by the buyer the lender should provide the Buyer a Good Faith Estimate of all the anticipated costs of the proposed purchase. It is not unusual for a lender to request an application fee or an appraisal fee prior to them proceeding forward. Mortgage costs are usually paid by the buyer. Kalavruzos, Mumola, Hartman & Lento, LLC will review with you to make sure that you obtain your mortgage commitment in a timely basis.

4) THE TITLE WORK/TITLE INSURANCE: “Title work” is a combination of title searches, title insurance and surveys. Title insurance is a necessary policy that insures the ownership interests of the mortgage company and of the buyer. The title insurance company does title searches to assure that the seller is providing title that is free and clear of any liens, judgments or other encumbrances. In other words, the title company is doing any and all necessary investigation into the history of the property to make sure that the seller owns the property legally and that no one else has an interest in the property that can interfere with the buyer’s use and enjoyment of the property. The buyer pays for title insurance and title search costs at the settlement.

5) THE CLOSING (SETTLEMENT): The closing or settlement takes place at the office of the buyer’s attorney. The buyer signs the mortgage package and the settlement statement. The settlement statement (also called a HUD-1 form) is a form used by a settlement or closing agent, itemizing all charges imposed on a buyer and seller in a real estate transaction. Kalavruzos, Mumola, Hartman & Lento, LLC will attend this closing and confirm that all of the proceeds are accurate.
Selling Real Estate: What to expect when selling real estate:

THE CONTRACT/Agreement of Sale: When you find a buyer for your home, you will sign a contract. In most cases, it will be a standard contract from a realtor. After all parties sign, you will have a “3-day attorney review period” during which your attorney can make modifications or clarifications to the contract. Also at this time, an attorney may cancel the contract on your behalf if the contract terms meet with your disapproval.

For sellers, important terms in the contract include:
• the closing date
• inclusion or exclusion of fixtures
• contingencies to the sale (i.e., sale of an existing home)
• what value of repairs or credit you are willing to give to the buyer following the home inspection (or is it an “AS IS” deal)
• the down payment
• Certificate of Occupancy requirements or Caps

Please note that all time periods for various steps in the process (i.e., mortgage contingency, inspections) will begin at the end of attorney review. Kalavruzos, Mumola, Hartman & Lento, LLC will make sure that your time frames are acceptable to your needs. In addition, the firm will assist in obtaining any payoffs of current mortgages and address and inspection issues raised from the Buyer.

The Firm will prepare all the required closing/settlement documents. Typically in a sale of a home, a deed, Affidavit of title, 1099, seller’s certification, are needed to conclude the sale.


Tim Kalavruzos is an experienced commercial real estate lawyer helping Lenders, Developers and other businesses in Hamilton, New Jersey, initiate, negotiate, structure, and close major commercial real estate transactions. Tim Kalavruzos provides a full range of services in commercial real estate law, including:

Commercial Real Estate


Lending & Secured Transactions



Structuring the Transaction

Represented institutional lender in complex $7.5 million commercial construction loan.
Represented institutional lender in $5 million purchase and ground up loan of residential home building.
Assist Buyer in conduit financing of 3.5 million multi-unit residential refinance
Assisted lender in $2.5 million finance of Gymnasium facility .
Represented developer in large and innovative shopping center facility, preparing form leases for center, and negotiating leases with tenants.
Represented groups of investors in purchasing small business.
Represented borrower in acquisition of Restaurants and Laundromats financing.
Assisted tenant in negotiating small retail lease.

Tim Kalavruzos has the experience and understanding required to help you navigate the complex and ever-changing landscape of laws, rules and regulations that affect real estate transactions. Whether you are developing an office building, retail shopping center, multi-family housing project, or warehouse, or negotiating a commercial lease, or involved in a complex loan. Kalavruzos, Mumola, Hartman & Lento, LLC will provide you with comprehensive, and efficient services in order to deliver the quality and responsiveness you need and expect in order to achieve your goals and compete effectively in today’s marketplace.

New Jersey Business and Real Estate Purchase Contract Attorneys serving:

Hamilton | Trenton | Princeton | Hightstown | Bordentown Allentown | East Windsor | West Windsor | Plainsboro Columbus | Mansfield | North Brunswick | South BrunswickLawrenceville | Ewing | Robbinsville