What is an Attorney Review Period in real estate?

If you are buying or selling a house, you may have heard your realtor talk about an "attorney review period".  It is a provision in some contracts that gives the parties the right to have their lawyer look it over after it is signed, and usually- if necessary, allows the person to get out of it or suggest changes to the contract based on the legal advice they receive.  Not all contracts have an attorney review provision in it.  If you aren't sure if your contract has one, ask- and do it right away as they usually expire in a matter of days.