Purchaser's Rider to Contract of Sale
(Residential) (NJ)

Summary

This Purchaser's Rider to Contract of Sale supplements a standard contract of sale for residential real property in New Jersey. This template includes practical guidance, drafting notes, alternate clauses, and optional clauses. In New Jersey, real estate brokers often prepare a standard form contract of sale for a residential transaction. The form contract is signed by the purchaser and submitted as an offer to the seller. Once accepted and signed by seller, the contract is forwarded to attorneys for both parties. The form contract includes a three-day attorney review period, giving the attorneys a three-day period to modify the contract of sale (Saturday, Sunday, and holidays excluded). During this period, attorneys for both parties typically send out riders to modify the contract. If neither attorney "disapproves" of the form contract, it will become binding after three days. N.J.A.C. 11:5-6.2(g). For general guidance on the purchase and sale of property in New Jersey, see Purchase and Sale of Residential Real Property (NJ). For a seller's rider, see Seller's Rider to Contract of Sale (Residential) (NJ). For more information on required disclosures, see Residential Transactions Seller Disclosures State Law Survey.