Certainly, there are areas within New Jersey that are especially at risk for flooding and flood damage. However, renters and buyers may be unaware of the potential flood risks when opting to make a purchase or enter into a lease agreement. To remedy this potential issue, New Jersey recently passed a new law that protects buyers and renters who may enter a contract without knowing the potential flood risks. This new law states that sellers and landlords must disclose information pertaining to the property’s flood history or face significant penalties and legal liability. Read more about the new law here.
The Importance of Conducting an OPRA Search When Buying Real Estate in New Jersey
When purchasing real estate in New Jersey, one crucial step that buyers often overlook is conducting an Open Public Records Act (OPRA). This search can provide invaluable information about the property and its history, helping buyers make informed decisions and avoid...