New Jersey Contract of Sale, Residential Real Estate

Agreement Date: [[Agreement Date]]

Buyer(s): [[Buyer Full Legal Name(s)]]
Buyer Address for Notices: [[Buyer Mailing Address, City, NJ ZIP]]
Buyer Phone / Email: [[Buyer Phone]] / [[Buyer Email]]

Seller(s): [[Seller Full Legal Name(s)]]
Seller Address for Notices: [[Seller Mailing Address, City, NJ ZIP]]
Seller Phone / Email: [[Seller Phone]] / [[Seller Email]]

Property: The residential real property located at [[Full Property Address, including unit if applicable]], [[City]], New Jersey [[ZIP Code]], together with all buildings, improvements, fixtures, and appurtenances (the "Property"). Block [[Block]] Lot [[Lot]] (if known). Legal description attached as Exhibit A if required., -

1. Purchase Price and Earnest Money

Purchase Price: $[[Purchase Price, numeric]]

Earnest Money Deposit: $[[Earnest Money Amount]] (typically 1% to 10% of Purchase Price) to be held in escrow by [[Escrow Agent / Title Company Name and Address]] ("Escrow Agent").

The Earnest Money shall be deposited within [[Number, e.g., 3]] business days after the later of: (a) the end of the Attorney Review Period, or (b) receipt of cleared funds. The deposit is non-refundable except as expressly provided in this Agreement (including contingencies and Attorney Review)., -

2. Attorney Review Period (Mandatory, N.J. Supreme Court)

This Agreement is subject to a three (3) business-day Attorney Review Period as required by the New Jersey Supreme Court in *New Jersey State Bar Ass'n v. New Jersey Ass'n of Realtor Boards* (1983).

Attorney Review Period: Begins on the first business day after both Buyer and Seller have each received a fully signed copy of this Agreement (weekends and legal holidays excluded). The period ends at 11:59 p.m. on the third business day thereafter.

During the Attorney Review Period, either party's attorney may:

1. Approve the Agreement as written.

2. Disapprove the Agreement (cancel without penalty).

3. Propose modifications in writing (the other party then has the remainder of the period or a reasonable time to accept, reject, or counter).

If neither attorney disapproves or proposes changes within the Attorney Review Period, this Agreement becomes binding. Notice of disapproval or proposed changes must be given in writing to the other party's attorney (or as otherwise agreed). Overnight mail or email (with read receipt or confirmation) is effective upon sending for timing purposes.

Buyer Attorney: [[Buyer Attorney Name, Firm, Phone, Email]]

Seller Attorney: [[Seller Attorney Name, Firm, Phone, Email]], -

3. Financing Contingency

This Agreement is contingent upon Buyer obtaining a commitment for a mortgage loan in the amount of approximately $[[Loan Amount]] (or [[Loan to Value %]] of Purchase Price) on terms acceptable to Buyer within [[Number, e.g. 30]] days after the end of the Attorney Review Period (the "Financing Contingency Deadline").

Buyer shall apply for financing promptly and pursue it in good faith. If Buyer is unable to obtain financing despite good faith efforts, Buyer may terminate by written notice to Seller before the Financing Contingency Deadline and receive return of the Earnest Money.

Loan Type: [[Conventional / FHA / VA / Other]]

Pre-approval obtained? [[Yes / No, attach if yes]], -

4. Inspection and Due Diligence Contingency

Buyer shall have the right to have the Property inspected by qualified professionals during a due diligence period of [[Number, e.g. 10 or 14]] days after the end of the Attorney Review Period (the "Inspection Period").

Buyer may, at Buyer's sole option and expense:

1. Conduct general home inspection, roof, HVAC, plumbing, electrical, structural, environmental (radon, lead, mold, UST), pest, and any other inspections.

2. Review the Seller's Property Condition Disclosure Statement, HOA documents, title commitment, survey, and all other materials.

If Buyer is not satisfied with the results for any reason, Buyer may terminate this Agreement by written notice to Seller prior to the end of the Inspection Period and receive a full refund of the Earnest Money. Failure to terminate constitutes acceptance of the Property in its current condition (subject to other contingencies).

Seller shall provide reasonable access for inspections during the period., -

5. Appraisal Contingency

This Agreement is contingent upon the Property appraising for at least the Purchase Price (or such higher amount as required by Buyer's lender) by an appraiser acceptable to the lender. If the appraised value is lower, Buyer may:

• Renegotiate the Purchase Price with Seller; or

• Terminate this Agreement by written notice within [[Number]] days after receipt of the appraisal and receive return of Earnest Money; or

• Proceed without the contingency (if lender permits)., -

6. Sale of Buyer's Current Home Contingency (if applicable)

[ ] This Agreement is contingent upon Buyer entering into a binding contract for the sale of Buyer's current residence located at [[Buyer's Current Address]] and closing that sale on or before [[Date]] (or obtaining a bridge loan or other financing acceptable to Buyer).

If this contingency is checked and Buyer is unable to satisfy it despite good faith efforts, Buyer may terminate prior to the deadline and receive refund of Earnest Money., -

7. HOA / Condominium / Common Interest Community Contingency

If the Property is subject to a homeowners association, condominium, or cooperative:

Seller shall deliver to Buyer, within [[Number, e.g. 5]] business days after the end of Attorney Review:

• Current governing documents, bylaws, rules, and regulations

• Most recent budget, financial statements, and reserve study (if any)

• Certificate of good standing / estoppel letter showing current assessments and any special assessments

Buyer shall have [[Number]] days after receipt to review and, if not acceptable, terminate and receive refund of Earnest Money., -

8. Title, Survey, and Encumbrances

Seller shall convey marketable title to the Property, free and clear of all liens, encumbrances, and defects except:

• Current real estate taxes not yet due and payable

• Easements and restrictions of record that do not materially impair use

• Any other matters approved by Buyer in writing

Seller shall deliver a title commitment from a reputable title company within [[Number, e.g. 10]] days after Attorney Review. Buyer shall have [[Number]] days to object to title defects. Seller shall have a reasonable time (not to exceed [[Number]] days) to cure. If uncured, Buyer may terminate and receive refund of Earnest Money.

A current survey (or update of existing survey) shall be provided at [[Seller's / Buyer's]] expense if required by lender or Buyer., -

9. Closing and Possession

Closing Date: On or about [[Closing Date, specific or "on or before"]]

Closing shall take place at the office of the Escrow Agent or such other location as the parties' attorneys agree.

Possession: Seller shall deliver possession of the Property to Buyer at Closing in broom-clean condition, free of all personal property (except as agreed in writing), and with all utilities in working order. Seller shall remove all trash and debris.

Prorations: Real estate taxes, HOA fees, rents (if any), and utilities shall be prorated as of the Closing Date., -

10. Seller Representations and Warranties

Seller represents and warrants that, to Seller's actual knowledge:

1. Seller has good and marketable title and full authority to sell.

2. There are no pending or threatened legal proceedings affecting the Property except [[Describe or "None"]].

3. All known material defects have been disclosed in the Property Disclosure Statement provided to Buyer.

4. The Property is not in a flood hazard zone requiring mandatory flood insurance, or if it is, Seller has disclosed it.

5. There are no known violations of building, zoning, or environmental laws except [[Describe or "None"]].

6. All appliances, systems, and fixtures included are in working order as of Agreement Date (subject to ordinary wear).

These representations survive Closing for [[Number, e.g. 1]] year(s) unless otherwise agreed., -

11. Required Disclosures and Timing

Seller shall deliver to Buyer prior to or at the time of contract (or as otherwise required by law):

• Completed Seller's Property Condition Disclosure Statement (N.J.A.C. 13:45A-29.1)

• Lead-Based Paint Disclosure and Pamphlet (for pre-1978 housing)

• Any radon, flood, or other required state or federal disclosures

• HOA documents as applicable

Buyer acknowledges receipt timing requirements under New Jersey law., -

12. Default and Remedies

If Buyer defaults, Seller may retain the Earnest Money as liquidated damages (not a penalty) and pursue other remedies available at law or equity, or both.

If Seller defaults, Buyer may:

1. Terminate and receive full refund of Earnest Money plus reimbursement of reasonable inspection costs; or

2. Seek specific performance; or

3. Pursue damages.

The prevailing party in any litigation shall be entitled to reasonable attorneys' fees and costs., -

13. Miscellaneous Provisions

Governing Law: This Agreement shall be governed by the laws of the State of New Jersey.

Entire Agreement: This Agreement (including exhibits and riders) constitutes the entire agreement and supersedes all prior negotiations and representations.

Amendments: Must be in writing and signed by both parties (or their attorneys during review).

Severability: If any provision is held invalid, the remainder remains in force.

Notices: All notices under this Agreement shall be in writing and delivered by hand, overnight courier, certified mail, or email with confirmation to the addresses/attorneys above.

Time of Essence: Time is of the essence for all deadlines in this Agreement.

Assignment: Buyer may not assign without Seller's prior written consent.

Counterparts: This Agreement may be executed in counterparts, including electronic signatures, each of which shall be deemed an original., -

14. Exhibits and Riders

The following are attached and incorporated:

• Exhibit A: Legal Description (if separate metes and bounds or full deed description required)

• Exhibit B: Property Disclosure Statement (signed)

• Rider(s): [[List any additional riders, e.g. "Inspection Rider", "Financing Rider", "HOA Rider"]], -

15. Signatures

Buyer:

_________________________________________
[[Buyer Full Legal Name]] Date: [[Date]]

_________________________________________
[[Buyer Full Legal Name]] Date: [[Date]]

Seller:

_________________________________________
[[Seller Full Legal Name]] Date: [[Date]]

_________________________________________
[[Seller Full Legal Name]] Date: [[Date]], -

Attorney Review Acknowledgment (to be completed after review period or upon approval):

Buyer Attorney Approval: _______________________________ Date: [[ ]]

Seller Attorney Approval: _______________________________ Date: [[ ]], -

Disclaimer and Sources

> Template, not professional legal advice. This New Jersey Contract of Sale template is provided for general guidance only as of June 2026. It incorporates the mandatory 3-business-day attorney review requirement established by the New Jersey Supreme Court. Real estate contracts involve significant legal and financial obligations. Parties must use qualified New Jersey real estate attorneys for review, customization, and advice. Laws, forms, and practices change. This is not a substitute for professional legal counsel.

Sources (as of June 2026):

• New Jersey State Bar Association v. New Jersey Association of Realtor Boards, 93 N.J. 470 (1983) (attorney review requirement)
• N.J.S.A. 25:1-11 et seq. (Statute of Frauds, real estate contracts)
• N.J.A.C. 13:45A-29.1 (Seller disclosure timing)
• Standard New Jersey real estate practices for earnest money, contingencies, and closing (1, 10% deposit range typical; escrow requirements), -

End of New Jersey Purchase Agreement