New Jersey Attorney Review Gives Buyers 3 Days to Cancel

New Jersey gives both buyer and seller a 3 business day attorney review period after contract execution, and a signed contract is not binding until that window closes.

Attorney review, expanded fair housing protections, and the planned real estate disclosure framework are the three New Jersey topics that reliably produce state-portion misses, and all three have rules that no national prep course adequately covers.

The REC governs real estate licensing in New Jersey. The PSI exam tests 30 state specific questions alongside 80 national questions, with a minimum passing score of 70%. These three topics are where New Jersey law creates the sharpest departures from the national norm, and where underprepared candidates consistently lose points.

3-Day Attorney Review

In New Jersey, a signed contract is not yet binding. The 3-business-day attorney review period means either attorney can disapprove it, and candidates from states without attorney review consistently miss questions that hinge on that fact. Let's look at what the law actually requires.

Both buyer and seller get a 3-business-day attorney review period after a fully executed contract is delivered, during which either attorney can disapprove for virtually any reason, students from states without attorney review cannot grasp that a signed contract is not binding until this window closes.

The exam tests when the 3-day window starts, who can trigger it, what happens if neither party's attorney acts, and whether the clock runs on business days or calendar days. I don't want you guessing on this one. Know it cold.

NJ Fair Housing Act

New Jersey's Law Against Discrimination extends the federal protected class list with categories specific to the state, and the PSI exam tests those additions. Candidates who know only the federal seven will miss any question that turns on a state-level class.

New Jersey's fair housing law adds protected classes beyond the federal baseline, similar to what neighboring states do. New York also extends state fair housing protections with additional categories, and Pennsylvania has its own Human Relations Act. Each state's list of protected classes is what the exam tests.

New Jersey's Law Against Discrimination adds protected classes beyond federal law including sexual orientation, gender identity, marital/domestic partnership status, and source of lawful income, the exam specifically tests these state-level additions.

Know the specific classes New Jersey adds beyond federal law, including sexual orientation, gender identity, marital and domestic partnership status, and source of lawful income, because the REC tests which classes are covered at the state level versus only the federal level.

The New Jersey protected class additions are state-level expansions that appear on the exam in scenario questions. Candidates who study the federal Fair Housing Act exclusively won't recognize when a state-level class is the correct answer.

Sales Full Disclosure Act

New Jersey's PREDFDA requires developer registration before a single unit can be sold in a planned real estate development. Candidates who treat it as a standard seller disclosure law get the trigger, the timing, and the responsible party wrong. This is the kind of detail the exam loves, and most prep courses skip it.

The Planned Real Estate Development Full Disclosure Act requires developers to register an offering plan with DCA before selling a single unit, students confuse this with standard seller disclosures.

Know that PREDFDA applies to developers registering with the DCA before any sales activity, that it is distinct from the seller disclosure obligations individual owners owe, and what a buyer can do if the registration was not completed.

The PREDFDA is a New Jersey-specific developer registration law that operates at a different level than residential seller disclosures. Candidates who conflate the two will answer questions about planned developments incorrectly every time.