Category Archives: Real Estate
Residential Real Estate In New Jersey: What to Know About Title Searches
The buying or selling of a home is a major commercial transaction. For most people, it will be the most expensive transaction that they are a part of. Real estate prices are rising. According to data from Zillow, the average cost of a single family home in New Jersey now exceeds $440,000—one of the… Read More »
Millennials Driving Housing Market
One would think that due to inflation, stagnant wages, the high cost of living in metropolitan areas, and the exorbitant price of obtaining a college degree these days, owning a home is simply out of the question for most Millennials. However, according to Spencer Rascoff, CEO of Zillow, this is simply not the case. … Read More »
How a CEMA Can Save You Thousands in Mortgage Taxes
What is a CEMA? In New York State, refinancing a mortgage or purchasing a home triggers a mortgage tax. New York homeowners can reduce their tax liability with a Consolidation, Extension and Modification Agreement (“CEMA”). A CEMA consolidates the old, outstanding, mortgage debt and the new debt so you only pay taxes on the… Read More »
What Happens After a Seller and Buyer Sign a Broker Prepared Contract? The Contract Phase.
What Happens After a Seller and Buyer Sign a Broker Prepared Contract? The Contract Phase. In New Jersey, if a contract is a broker prepared contract, each party is entitled to have a **3 business day attorney review period. If a buyer or seller fails to amend the broker prepared contract within this 3… Read More »
Poulos LoPiccolo Closes Deals
The Real Estate season has kicked off very strong. Residential real estate sales are up (we know this because of the number of closings we have handled so far in the season). If you want (or need) personal attention during your residential real estate transaction by an attorney, please call us for your real… Read More »