Property Perspectives Local Insight
Insights, Trends, and Strategies for Today's Home Buyers and Sellers. Page 7 of 27.
Association Paperwork When You Buy or Sell in a 55+ Community: Estoppel Letters, Capital Contributions and Transfer Fees
When a home sells in a 55+ community, the association produces its own paperwork: a certificate of any unpaid assessments (often called an estoppel or payoff letter), the resale or disclosure package, and a bill for…
Bridge Loan or HELOC? How to Buy Your Next Home Before Yours Sells in New Jersey
A bridge loan and a home equity line of credit (HELOC) are two ways to borrow against the home you're selling so you can buy the next one before yours sells. A bridge loan is short-term financing meant to be paid off…
Buying a Co-op in a Whiting 55+ Community: Cash, Approvals and Fees
Buying a co-op in one of Whiting's 55+ communities means buying shares or a membership in a corporation that owns the land and buildings, plus a proprietary lease for your home, and in several of them you'll pay cash…
Can You Buy a Condo With a VA Loan in New Jersey?
Yes, you can buy a condo with a VA loan, but the condo project has to be VA approved, not only your unit. You can check a project yourself on VA's condo search at lgy.va.gov, and if it isn't listed, the project has to…
Buying a New Home After a Divorce in New Jersey: Credit, Income and Timing
You can buy a home on your own after a divorce once a lender approves you on your own credit and income. Two things can slow that down, an old joint mortgage that's still on your credit and support income a lender…
Buying a Home in an LLC or Trust for Privacy: What Changes at Closing
Buying in an LLC or a trust changes whose name goes on the deed, but it doesn't make the purchase private. In New Jersey the deed, which recites the price, is recorded with the county clerk and searchable online, and…
Buying a Home in Monmouth or Ocean County on PCS Orders
Buying a home on PCS orders works best when you plan backward from your report date: get your VA Certificate of Eligibility and pre-approval first, shop before you arrive, use any house-hunting time your command…
Buying a Home With a Private Well or Septic System in Monmouth or Ocean County
If the home has a private well, New Jersey law requires the water to be tested by a state-certified lab before closing, and the closing can't happen until both the buyer and the seller have received and reviewed the…
Buying a Home That Has Been Raised: The Paperwork to Ask For
When you buy a home that has been raised, ask for four things: an elevation certificate completed after the lift, the town's permit file with the certificate that closed it out, the details on the flood openings under…
Buying New Construction When You Downsize in New Jersey: Warranties and the Public Offering Statement
New homes in New Jersey come with a State-backed warranty: one year on materials and workmanship, two years on heating, air conditioning, plumbing and electrical systems, and ten years on major structural defects. If…
Can You Buy Out a Sibling's Share of an Inherited House in New Jersey?
Yes: one sibling can buy out the others' shares of an inherited house in New Jersey, and the cleanest buyouts start with a fair market value everyone accepts. The estate's attorney drafts the deal and confirms who has…
Can I Stay in the House Until It Sells? Questions to Ask Your New Jersey Divorce Attorney
Whether you can stay in the house until it sells is a legal question for your attorney, and the answer depends on your agreement, any court order and your own circumstances. What I can give you is the list of questions…
Can You Take Over the Seller's Flood Insurance Policy When You Buy a Home?
Often, yes. A National Flood Insurance Program (NFIP) policy with building coverage can be assigned from the seller to the buyer when the home sells, with the seller's written consent. The seller signs the assignment…
Can You Buy or Inherit a Home in a 55+ Community If You're Under 55?
Yes, you can own a home in a New Jersey 55+ community if you're under 55. Federal and state law limit who occupies the home, not who owns it, and a 2024 Appellate Division decision said so directly. Living there…
Can You Sell a House Before Probate Is Finished in New Jersey?
In New Jersey, an inherited house can't be sold until someone has legal authority to sign for the estate, and that authority comes from the county Surrogate. The good news is that "before probate" covers less time than…
What Certificates and Permits Does a New Jersey Estate Home Need Before Closing?
Almost every one- or two-family estate home in New Jersey needs a smoke alarm and carbon monoxide alarm certificate from the town before it changes hands, and many towns add their own resale inspection or certificate…
Can You Commute to New York City From the Jersey Shore?
Yes. NJ TRANSIT's North Jersey Coast Line runs from the Jersey Shore to New York Penn Station, with direct trains from Long Branch north at all times and direct trains from the stations south of Long Branch during…
What Does It Cost to Sell a $1 Million-Plus Home in New Jersey?
When you sell a New Jersey home for more than $1 million, two State charges are yours as the seller: the realty transfer fee and the Graduated Percent Fee, which most people still call the mansion tax. On a $1.5…
Court-Ordered Home Sales in New Jersey Divorces: What to Expect
In a court-ordered sale, a New Jersey judge directs that the marital home be sold, either as part of the final division of property or, when the circumstances justify it, before the divorce is final. Expect the order…
What Is the House Worth on the Date of Death, and Do You Need an Appraisal?
The date-of-death value is what an inherited house was worth on the day the owner died, and in New Jersey it matters twice: the state asks for it on any inheritance tax return, and the IRS generally uses it as the…
What Happens When the Builder Turns a New 55+ Community Over to the Owners?
In New Jersey, control of a new 55+ community's association passes from the builder to the owners in steps tied to sales: owners elect at least a quarter of the board within 60 days after 25% of the homes have closed,…
Do You Have to Disclose Past Fire or Storm Damage When You Sell in New Jersey?
In general, yes. New Jersey's Seller's Property Condition Disclosure Statement has been mandatory for residential sellers since August 1, 2024, and it asks whether you're aware of the property ever being damaged by…
Do All Heirs Have to Agree to Sell an Inherited House in New Jersey?
Not always. In New Jersey, an executor or administrator generally has the power to sell estate real property without every heir signing off, unless the will, the appointment or a court order limits that power, or the…
Does an Executor Have to Fill Out a Seller's Disclosure in New Jersey?
In general, yes: since August 1, 2024, New Jersey's Seller's Property Condition Disclosure Statement has been mandatory for sellers of residential property, and the official instructions and the 2024 law I read don't…