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.
What Happens During a Real Estate Closing in New Jersey?
Oftentimes, those entering a residential real estate transaction may find themselves wondering what happens during the process of closing in the State of New Jersey. When is it scheduled? What types of documents am I required to bring? Who will be in attendance? ...
