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.
Closing the 2023 Real Estate Market
With 2023 coming to an end soon, many may wonder how the real estate market will shape up for 2024. While the market could still be in flux, buyers and sellers may potentially see changes including a decline in mortgage interest rates and an increase in...
