For those of you moving outside of New Jersey, you may be surprised by some of New Jersey's real estate laws. In New Jersey specifically, properties are given attorney status after the buyer and seller accept the "offer." During this time, both the buyer and seller can withdraw from the transaction without affecting it. You can also hire a jersey title company via http://www.clearskiestitle.com/.
When reviewing lawyers, lawyers representing each buyer and seller ensure that all requirements are clearly understood and acceptable to both parties. Usually, it will take 3 days.
Unlike many other states where the "offer" is actually a contract of sale and if all signatures are accepted the transaction is a valid and enforceable contract, the New Jersey attorney review period is designed to ensure that the interests of the buyer and buyer are upheld by Seller are represented prior to the signing of a contract that has legal force.
If you make an offer for a home in New Jersey and select that home during the attorney review period, you will be off the "list" with no problem. If you're a seller and you decide not to accept the offer (better ones may be offered), you have the same options.
Some people may perceive this as an advantage, others may not. One thing is for sure, it provides more time and safety for both the buyer and the seller.