NJ Flood Disclosure Requirements: What Sellers Must Disclose and Buyers Should Review
A seller says a Jersey Shore home has never flooded during their ownership. The house looks well maintained, and the buyer’s lender has not raised an insurance issue. Is that enough information to move forward? New Jersey requires sellers to disclose specified flood-risk information before the buyer becomes obligated under a purchase contract. Those disclosures […]
Closing Costs in New Jersey: What Home Buyers Should Budget For
The down payment is usually the first number a home buyer calculates. It is not the only money needed to complete the purchase. Legal and title charges, lender fees, insurance, tax adjustments and other expenses can add substantially to the amount you need available. A useful closing budget separates the down payment, transaction charges, prepaid […]
NJ Buyer Agency Agreements: What to Know Before You Sign
A real estate agent sends you an agreement before your first showing. You have not found a house yet, but the document already discusses fees, exclusivity and how long you will work together. What are you committing to? A buyer agency agreement establishes your relationship with a real estate brokerage and sets out its services […]
Attorney Review in New Jersey: Why the First Few Days Matter
An accepted offer is a meaningful step toward buying or selling a home. But the price and closing date are only part of the agreement. The contract also determines what happens if financing falls through, an inspection reveals a problem or the property cannot be delivered as expected. For a typical New Jersey home sale […]
What Buyers Should Review Before Purchasing a Waterfront Home in New Jersey
A waterfront home can offer exactly what draws people to the Jersey Shore: a place to keep a boat, spend time outside and enjoy life close to the water. The purchase also calls for a closer look at what you are acquiring, what you can do with the property and what it will cost to […]
NJ Mansion Tax Changes: What Buyers and Sellers Need to Know
Buying or selling a high-value home at the Jersey Shore calls for a clear understanding of what the transaction will actually cost. A transfer fee that receives little attention during negotiations can make a substantial difference to the seller’s proceeds. New Jersey’s former buyer-paid “mansion tax” is now a seller obligation called the Graduated Percent […]