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For many homeowners in New Jersey, there is some relief available from high property taxes. Homeowners may make application to their local tax assessor to reduce their taxes if their current assessment is higher than what the actual value of the house should be. The...
In the days and weeks ahead of a real estate closing, there is a lot of work being done behind the scenes to make sure that the transaction can be completed without incident. Both the Buyer and the Seller in a transaction have much to do. For example: The title policy...
It can be incredibly stressful to buy and sell a house on the same day. So much goes into coordinating a closing, and making sure that the dates align with a second transaction can be a juggling act. Unfortunately, if a person needs to sell a home in order to purchase...
Most people do not have the ability to read legal language with a clear understanding of what it means. Lawyers spend years in law school learning to read and write contracts. When an individual enters a contract to buy a house in New Jersey, they are provided with a...
Every real estate contract includes a provision for a date by which closing has to occur. But the vast majority of real estate transactions do not close on the contract closing date. That date is a target date by which all parties hope to have contingencies resolved...
In a real estate transaction, the title company is paid to ensure that the seller has actual ownership of the property being sold and that there are no issues with the title being passed. They do this by doing a thorough search through county records to make sure that...
In most real estate transactions in New Jersey, a buyer has an opportunity to conduct home inspections to be aware of the condition of the property. Some properties are sold in “as is” condition. However, even in these cases, most buyers have the right to inspect the...
When a lender is involved in a real estate transaction, they will require an appraisal of the home being purchased be conducted in order to ensure that the mortgage amount is justified by the overall value of the home. An appraiser might come to the home and compare...
Purchasing a home is one of the biggest purchases a person can make in a lifetime. It is important for a home buyer to be aware of the condition of the home before a purchase. Because of that, most real estate contracts provide for a period of time during which a...