Attorney review clauses, notices at residential home bidding auctions under consideration by NJ Supreme Court

The New Jersey Supreme Court is slated to hear arguments on whether the three-day attorney review clause and notice regarding the risks associated with not seeking an attorney review are mandated in realtor-prepared residential real estate contracts in bidding auctions. The New Jersey State Bar Association (NJSBA) argued that they are mandated, in Sullivan v. Max Spann Real Estate & Auction Co., Docket No. 085225.