Educate Yourself on the Process

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On July 10th, Governor Murphy signed into law Bill C3192/U4454 the Real Estate Consumer Protection Enhancement Act. This new law, effective August 1st, introduces several key changes that will impact all real estate transactions in New Jersey.

Key Changes to Be Aware of:

Mandatory Non-Exclusive or Exclusive Buyer Representation Agreement

From August 1st, it is required to have a Buyer Representation Agreement in place. This document outlines the responsibilities of your agent, details on how their compensation will be paid, and allows them to legally advocate for you throughout the transaction.

Mandatory Seller’s Property Condition Disclosure

Sellers must now provide a completed and signed Seller's Property Condition Disclosure form. This ensures transparency and provides buyers with essential information about the property.

Designated Agency

The new law permits Designated Agency, allowing the managing Broker to choose an agent within the listing office to represent the buyer. This change aims to enhance the representation and services provided to both buyers and sellers.

Disclosure of Representation at Open Houses

Listing Agents are now required to post a disclosure of representation at Open Houses, clearly stating whom they represent. This ensures clarity and helps buyers understand the representation dynamics during the home-buying process.

*In accordance with the National Association of REALTORS® proposed settlement agreement (effective August 17, 2024), any pre-closing disclosure form that pertains to brokerage representation must include the conspicuous statement that broker commissions are not set by law and are fully negotiable.

𝖯𝖱𝖮𝖢𝖤𝖲𝖲 𝖳𝖮 𝖮𝖡𝖳𝖠𝖨𝖭𝖨𝖭𝖦 𝖠 𝖢𝖮𝖭𝖳𝖨𝖭𝖴𝖤𝖣 𝖢𝖤𝖱𝖳𝖨𝖥𝖨𝖢𝖠𝖳𝖤 𝖮𝖥 𝖮𝖢𝖢𝖴𝖯𝖠𝖭𝖢𝖸 𝖨𝖭 𝖳𝖧𝖤 𝖢𝖨𝖳𝖸 𝖮𝖥 𝖢𝖠𝖬𝖣EN:

1. Pick up the Zoning Permit Application from City Hall - Division of Planning Room 224 then do these steps… 

You MUST bring a check or money order in the amount of $69.56. You MUST also bring a copy of the Deed, obtain the tax, water and sewer records from the City Hall - Tax Office Room 117 and bring a floorplan of each floor. This step is a MUST! Start filing as soon as you win the offer.

*Note: The tax office is only open until 12 pm.

You will obtain the Zoning Permit; Use: Single Family Dwelling Certificate of Occupancy within 7 to 10 business days starting the day after you file. If you do not receive this letter on time, please make sure you contact them for follow-up.

2. Once you receive the Zoning Approval letter, you can now apply for CCO in City Hall - Room 403. You MUST have an appointment in order to be seen.

This step includes Building, Electric, & Fire inspections. The fee for this application is $200.

Once they entire all the information in their system, you MUST call them (856) 757-7032 to schedule the inspections. I suggest you keep a lockbox at the subject property.
 

3. While you are waiting for the CCO you can apply for the FIRE and Smoke Alarm Inspection. The application fee is $64. You can fill out the application at the Fire Department located at 4 North 3rd Street in Camden, NJ. You MUST call to schedule an appointment by calling (856) 757-7531.
 

Office hours for all of the above is 8:30 AM To 4:30 PM.