You’re in New Jersey. So why use a Wyoming bank or attorney?
Bergen County is part of the New York City metropolitan area. North eastern New Jersey (Bergen & Hudson Counties), New York (Rockland & Westchester Counties + NYC) and western Connecticut make up the NYC metro area.
There is a tremendous amount of interstate commerce and activity here. We cross state lines to shop, visit friends and have fun all the time. As a result, we think of this as one region.
Bergen County is a commuting location to Manhattan because it’s on top of New York City. Manhattan is only 1 mile across the Hudson River from here. Many Bergen County residents work in NYC as a result and home values are based in large part on proximity to NYC.
This adds to our perception that we are one region. As a result it’s not unusual for Bergen County buyers or sellers to choose a bank or attorney from NYC. However, that’s like one from Wyoming to buy a NJ home. Why?
New York and New Jersey are 2 separate states. Buying a home anywhere in New York is different from buying a home anywhere in New Jersey. Even if your New York bank or attorney is licensed in New Jersey, their primary business is in New York.
It seems that local New York banks never close on time. They just don’t understand the process here. What I usually experience is a last minute closing delay. This creates havoc almost always for both sides.
The home buying process in NY and NJ is radically different. Being licensed in NJ does not mean NY attorneys know what they’re doing here. If representing the buyer, the attorney may inconveniently insist we close in NYC. You may have to pay the seller’s attorney to go there.
Because we all think of this as one region, we can make mistakes. Buying or selling a home is no time to make a mistake because the results can be catastrophic.
Protect yourself. Use the best local professional attorneys and bankers you can find. So why use a Wyoming bank or attorney when you’re in New Jersey?
