What the 2% Withholding Fee Actually Is New Jersey requires a prepayment toward any capital gains tax you may owe the state. At closing, the state withholds 2% of the total sale price. It is not a penalty. It is not a tax on leaving. Think of it as a deposit. The state holds the … Read more
Understanding how attorney review works—and how long it really takes—can help you avoid unnecessary delays and protect your interests. The key steps in the attorney review process include contract review, negotiation of terms, and final approval before the transaction moves forward. What Is the Attorney Review Period? The attorney review period begins once both the … Read more
But one question always pops up: Can a real estate lawyer represent both the buyer and seller in NJ? The main question is if a real estate attorney can represent both parties in a single transaction, what are the implications are for each side? Professional ethics, the unique circumstances of the deal, and state laws … Read more
The following information will walk you through the most common permits and inspections needed to sell a home in Monmouth or Ocean County – and how to avoid costly surprises. Why Permits Matter in a Real Estate Sale Permits and inspections exist to ensure that homes are safe, code-compliant, and accurately represented. When you sell … Read more
Listing Agreement with a Real Estate Agent If you’re working with a realtor, you’ll need to sign a listing agreement that grants them the right to market your home. This document outlines: While many sellers glance over this contract, it’s worth noting that the terms can affect your total sale price, timeline, and even liability. … Read more
The Industrial Site Recovery Act in New Jersey underscores the importance of addressing environmental contamination, particularly for properties with potential hidden dangers like underground storage tanks (USTs), contaminated soil, or groundwater issues. Challenges such as asbestos and mold can pose significant risks to both buyers and sellers. Compliance with environmental permitting and addressing these concerns … Read more