New Jersey LegalLife Multistate Guide and Handbook for Selling or Buying Real Estate

To protect your finances and ensure you are selling or buying at the best possible price, it is probably best to avoid dual agency. Buyers or sellers may be inclined to work with a dual agent because they want to obtain confidential information about the person buying or selling the home.

Several states have laws on the books mandating the physical presence of an attorney or other types of involvement at real estate closings, including: Alabama, Connecticut, Delaware, District of Columbia, Florida, Georgia, Kansas, Kentucky, Maine, Maryland, Massachusetts, Mississippi, New Hampshire, New Jersey, New

In New Jersey, the closing costs typically total 1-7% between both buyers and sellers. New Jersey sellers can usually expect to pay 1-3% of the final sales price in closing costs, and buyers can expect to pay around 2-5%.

It depends on the municipality in which the house is located. Not all NJ municipalities require a CO for the sale of an existing one or two-family home. A simple phone call by you or your realtor to the municipality's building/zoning department (you...

Working With a Lawyer Unlike some states, New Jersey does not require that sellers involve a lawyer in the house-selling transaction.If you are selling your home without a real estate agent (a for sale by owner or FSBO), it may be useful to hire an attorney to help with the legal paperwork.

Scope Out the Competition (Be A Nosey Neighbor) Give New Jersey Buyers What They Want. Analyze New Jersey's Real Estate Market Data for a Correct Listing Price. Make Sure Your Real Estate Photographs Don't Suck.

Individuals interested in a real estate license will now have the flexibility to take the test online or in person at a designated testing site.The New Jersey Real Estate Commission (REC), a division of the New Jersey Department of Banking and Insurance, administers and enforces New Jersey's real estate licensing law.

In New Jersey, you're going to need a real estate attorney to handle the contract and closing. Most attorneys charge a flat rate of $1000 to $1500. A very complicated or lengthy closing can easily cost more.

New Jersey is among the states that permit dual agency representation, in which a seller's agent may also represent a buyer who simply shows up at an open house or calls the telephone number on a sign without already having found his or her own agent.