Why Do Real Estate Agents Ask Buyers for Pre-approval?

Many buyers aren’t aware that most real estate agents will request a copy of their pre-approval letter prior to showing them a property. Some are under the impression that they can wait to contact a lender until they find a home they are interested in, assuming they won’t have a problem getting a mortgage. While you might think it unnecessary, getting pre-approved and being able to provide proof to a real estate agent is critical these days for any buyer.  Here are some reasons why a real estate agent will ask you for a letter of pre-approval.

1. Safety

Believe it or not, requesting and receiving a pre-approval letter from a potential buyer is one of the number one realtor safety tips. First of all, if the buyer has taken the time to meet with a lender to discuss a mortgage, it is likely they are serious about buying a home. But also important is that the lender has done some research on the potential buyer. The lender will find out a buyer’s social security number, address, and job history. Having this information makes meeting with potential buyers safer as there is less of a risk if the real estate agent knows identifying information about the buyer.

2. Less financial risk for all

Not all homebuyers who apply for a mortgage will get approved. Pre-approval removes a lot of the uncertainty from the home buying process. It is highly unlikely for a pre-approved buyer to be denied a mortgage once the underwriting process is complete. This allows the buyer and the realtor to confidently spend money and time arranging home inspections, appraisals, and contract details.

3. Staying within budget

The process of getting pre-approved for a mortgage loan can give you a better perspective of how much house you can afford. Lenders will often go over loan programs you are qualified for to explain your options and help you determine which program is the best one for you. Once you have all the numbers you need, you and your real estate agent can work within that budget.

4. Better terms

Getting pre-approved will help you know what kind of an offer to make when you find the house you’re looking for. You will need to know how much cash you are paying, how you are financing, what kind of loan you will obtain, etc. Without a pre-approval letter, buyers have less clarity about making an offer that’s realistic. This will also save you lots of time when it comes down to working through these details. If you already know what you can offer, you will be able to better negotiation for terms favorable to you as the buyer.

5. Sellers’ preference

Besides just being required by real estate agents, some sellers will only allow an agent to show their home to potential buyers who have been pre-approved. Sellers go through a lot of work to make their home ready for the market. They don’t want to waste their time with people who are not serious about purchasing their home.

Getting pre-approved is easy and can give you the confidence you need to start your home buying search.

What Generation Z is Looking for in NJ Real Estate

nj real estate

The real estate market is gearing up to welcome a new generation of home buyers: Generation Z. This generation, born between 1997 and 2012, are now buying around 2% of homes on the market. That might not sound like much now, but this money-conscious group is poised to become a major NJ real estate purchasing force in the years to come. As the oldest in this group finish college and start jobs, homeownership is the next big move. Here is what Generation Z is looking for in a home.

The big thing to note with this group is that they are interested in single family homes in diverse communities. A survey taken by Homes.com indicated that living in a diverse community was important for 58% of Gen Z survey takers. Instead of condos, townhomes, or apartments, Gen Z largely expects a single family home to be their starter home. Amenities desired by Gen Z included a backyard with a deck or patio, open floor plans, a garage, and hardwood floors.

Something not on their list? Smart home technology. Surprising many real estate experts, smart home tech ranked low on a list of desired amenities, along with eco-friendly appliances.

This generation may be the most informed first time home buyers ever. Being essentially born with smart phones in their hands, this tech savvy group knows more than ever about the home buying process. Even Gen Z buyers new to real estate have likely done some research before approaching a realtor. This also makes them discerning potential buyers: they know what they want and they are willing to spend some time looking for it.

In 2019, Gen Zers were buying starter homes costing on average $160,600, an 11% increase from 2018. This generation, in general, is looking for inexpensive homes in New Jersey towns with strong local economies and low crime rates. Many Gen Zers are looking to settle in the areas around where they went to school, making college and university towns a popular choice.

The financial position of Generation Z may be the only thing holding them back from entering the real estate market. While they tend to be in a better financial position entering their mid-20s than the Millennial generation that came before them, they still have student loan debt to grapple with. With some student loan payments equaling a typical mortgage payment, this is a tall hurdle to jump. On average, Gen Z home buyers are putting only 5% down on real estate purchases, meaning they are likely relying on private mortgage insurance (PMI) to pay for their homes.

Right now, most of the future home buyers in Generation Z are focused on experiences, travel, and paying off their loans instead of purchasing real estate. While they are in no rush to purchase a home right now, this unique demographic of home buyers will be hitting the market before you know it. You can count on them looking for New Jersey communities with easy access to the arts, entertainment, and Instagram-able experiences.

5 Tips for a Successful New Jersey Real Estate Investment Purchase

NJ real estate

It can be difficult for beginners in real estate investing to determine which properties would be a good purchase. You may have a plan, your finances might be stellar, but once it’s time to take action, sometimes even the best laid-plans get derailed. If you are looking to invest in New Jersey real estate, there are some things you should keep in mind as well as specific properties to steer away from as you make your first investment(s). To help get you started on the right foot, we’ve compiled five tips that will guide you toward a successful NJ real estate purchase.

1. Keep an Open Mind

The biggest key to successfully investing in real estate is to remain open to the possibilities around you. Don’t go into your property search looking for anything too specific. Even if you have a mental picture of investing in a residential home to flip – don’t ignore the excellent commercial real estate opportunity down the street. There are so many different types of real estate opportunities available to you! By keeping an open mind, you’ll be less likely to miss out on something great.

2. Be Mindful of Location

You might find a fantastic property and fall in love with it instantly. WARNING! Don’t invest until you have a good, solid understanding of the location. There is a rule in real estate: “A bad house in a great neighborhood is better than a great house in a bad neighborhood.” You can always renovate a property—you can’t give the street a makeover.

3. Prepare for Competition

The popularity of investing in New Jersey real estate is on the rise. Don’t be surprised if you put an offer in on a property only to be outbid. Some of the biggest competition you will likely face will be from all-cash buyers. Many all-cash buyers are offering full price or more in order to secure their investment. Be aware of these competing investors, but don’t be dissuaded if you are outbid a few times. Ask sellers about their goals and see if there is any way you can help them meet those goals.

4. Look Past the Staging

Home staging is an increasingly popular trend for sellers looking to get an edge in the market. And there is a good reason for this: many buyers are more likely to overlook faults with the property if it is staged. Don’t let the aesthetics of staging deter you from asking the important questions about a property. Make sure you move things around, test hardware and appliances, and get to the bones underneath the picture-perfect set up.

5. Know When to Quit

Don’t be afraid to cut your losses and get out if you make a bad investment. Even some experienced investors will stick with a bad investment in a futile effort to recuperate the money they sunk into a property. It’s possible that what seems like a sure bet can take a nosedive and turn out not to be a money-maker. Smart investment behavior includes knowing when to walk away, learn from your mistakes and make better choices next time.

 

Real estate can be a challenging and rewarding opportunity for motivated investors. The sky is the limit when it comes to your real estate goals. If you follow these five tips, you will be on your way to a successful NJ real estate purchase!

 

 

 

 

 

 

 

Retire in New Jersey in a 55+ Community

retire in new jersey

As we get older, we often find we need different things out of our homes and communities than a traditional community can offer. Maybe you need to live on one floor, near people your own age with similar interests, or you just want to be able to enjoy some peace and quiet. If this sounds like you, it might be time to look into a 55+ community. A retirement community can provide the services and amenities to help maintain your quality of life for longer.

New Jersey is full of beautifully appealing housing options for the 55+ community. Many new developments include single family homes so you can maintain your independence while enjoying the services and comforts of a community geared towards your needs. Choosing a retirement community does not mean your options are limited; in fact, you can find your dream home in the ideal location!

Here is how to find the right 55+ community in New Jersey:

1. Consider Your Lifestyle.

Your health, physical abilities, and other age-related concerns will likely dictate what kind of community you are looking for and the services it provides. Community age limits range from 50 years old to 90 years old or more and the offerings of these communities are just as varied. Many retirees are looking for a community where they can maintain an active social life while getting more assistance in other areas of their life, like cleaning, cooking, yard maintenance, and transportation. Other retirees are looking for peace and quiet and the time to relax alone with minimal care options. No matter what you are looking for, a representative from the community can discuss their available benefits and care options so you can decide if it meets your needs.

2. Carefully Research Amenities and Association Fees.

Always look into the amenities when you are deciding on a retirement community. After all, these are often the big appeal of a retirement community in the first place. Think about how these amenities can fit into your lifestyle and give you the biggest bang for your buck. Common 55+ amenities include: fitness centers, salons and spas, dining options, social centers, spiritual services, and activity programs. Be sure which services and utilities are included in your association fees. Many NJ retirement communities charge low HOA fees, but some can be pricey, so it’s important to do your homework.

3. Hire an Experienced Real Estate Expert.

An experienced real estate agent can help you find a 55+ community in an area you are familiar with, close to family, and with the benefits and care options to match your lifestyle. The real estate experts in our professional network will ensure that you are matched with a community that is worth your hard-earned money. When you work with the right professionals, you can retire in New Jersey in style!

 

How to Invest in NJ Real Estate for Retirement

nj real estate

Investing in real estate can be as rewarding as it can be stressful and intimidating. If you are close to retirement or newly retired, investing in a new real estate venture can be especially complex. A real estate investment for retirement needs to meet specific needs. Not only does your asset need to be a relatively sure thing, it also needs to be able to keep up with inflation. Many retirees look to real estate investments to provide supplemental income. There is a lot to consider if you are thinking of investing in NJ real estate for retirement. Here is what you need to think about.

1. Do you own your own home?

Most of the time, your home is your most valuable asset. More than savings or other luxury assets, your home has the potential to help fund your retirement. If you are in the position of owning your own home, you might already be sitting in the best real estate investment you could find. There are tons of different ways to use your home’s equity to generate income that will allow you to live more comfortably in retirement. You can downsize your home or use your home equity to fund long term care needs, amongst other things.

2. Buy It, Improve It, Flip It

Flipping is a popular way to get into the real estate game at any age. Also called wholesale real estate living, flipping is when you purchase a property with the intention of selling it to make a profit. If you know what you are doing and can invest in the improvement of a property, flipping can be a lucrative way to fund your retirement. But be wary of some common pitfalls when it comes to flipping homes. You need to have adequate real estate knowledge, home improvement skills, financial savvy, and cash up front to have a successful flip.

3. Residential Rentals

Another popular way to make your real estate investments work for you in retirement is to rent out your property to long-term renters. Long-term renters offer more stability and assurance that you will be able to meet your bottom line every month. Your renters need to be willing to pay enough to cover the mortgage on the property along with insurance, taxes, and regular maintenance. A rental property can provide a monthly flow of cash and can perform better than investing in the stock market. But you have to be prepared for the work and stress that can come with owning a rental property. Needy tenants or long-term vacancies can negatively impact your investment.

4. Commercial Rentals

Some real estate experts will say that owning commercial property can be more lucrative than residential real estate investments. There is certainly more risk and potential for complications—multiple tenants, commercial licensing requirements, long-term vacancies—but renting out commercial real estate can be a great way to generate retirement income. On the other hand, if you purchase commercial property, you could also consider running your own business. One of the biggest expenses of running a business is paying for the real estate. If you own the building outright, it could give you more financial freedom to grow the business you’ve always dreamed of.

5. Buy a Vacation Home to Rent

If you’ve always dreamed of owning a beach house or a cabin in the mountains, purchasing a vacation home and renting it for part of the year can allow you to have your cake and eat it, too. Renters looking for vacation homes are often willing to pay a premium for the right location. You could potentially make just as much money renting for a few weeks out of the year as you could renting year round with residential real estate. Keep in mind that vacation rentals tend to be seasonal money makers and are usually more expensive to maintain than residential investments.

Investing in real estate can be a great way to generate income during the retirement years. Veitengruber Law is an experienced real estate firm. We can help you with your real estate and financial planning goals.

How to Increase Your NJ Property Value with Smart Home Technology

Smart technology is everywhere. From iPhones to cars to household appliances, smart technology has never been more accessible or more affordable. These once futuristic accessories are becoming the norm. Especially as millennials enter the real estate market, adding some smart technology is a great way to get noticed and get better returns on your house. Besides making your property more attractive to potential buyers, smart technology can add a lot of convenience and efficiency to your daily life. Here are some of the latest smart technology upgrades you can make in your home.

1. Smart Thermostat

While programmable thermostats have been around since the 1950s, they can be outdated and lack user accessibility in the era of smart tech. Smart thermostats remove any guesswork from getting the perfect temperature in your home. They can sense when you are home, when you are away, and use this data to adjust the temperature according to your preferences. You can also turn up the heat without leaving your comfy nest of blankets on the couch. Smart thermostats can even save you money by conserving energy when you aren’t home.

2. Smart Smoke Detector

The smart smoke detector could save you money on insurance premiums, but it could also save your life. How many of us have resorted to disabling our smoke detectors to end the constant shrieking from a sensitive detector? With a smart detector you can keep on cooking without interruption. A smart smoke detector can monitor smoke, carbon dioxide, and even the general air quality of your home. If a problem arises, an alert can be sent to your smart phone or tablet so you know the second there is an issue. When it comes to your health, this particular smart tech is essential to improving your home environment.

3. Smart Security

Continuing on the topic of safety, smart security systems are a fantastic addition to any home. Many homebuyers consider safety technology an important aspect of a home’s value. You can sell your home for a premium if it is updated with the latest security technology. Smart security can include: cameras connected to your smart phone, audio/video capable doorbell systems, retina scanning technology, and even facial recognition lock systems. Smart door locks can even be programmed to unlock when you pull in the driveway. These features offer convenience, safety, and peace of mind.

4. Smart Lighting

This is another smart technology option for your home that offers convenience and can save you money. EnergyStar reports that 12% of your annual energy bill goes to lighting. That’s hundreds of dollars a year. Smart lighting sensor systems can turn lights on when you enter a room and turn them off when you leave, ensuring lights are only in use when needed. They can be controlled by your smart phone or programmed to dim and brighten to your preferences. Outdoor lighting with smart technology can also improve the safety of your home.

5. Smart Blinds

Blinds provide privacy, create the perfect nap setting, and help you save money on energy costs. Smart blinds allow you to better regulate how hot or cold your house is based on the amount of light being let in. There is a lot of convenience in being able to open all your blinds with the press of a button. After all, smart blinds rolling up to let in the light of a new day is the epitome of “futuristic” living.

6. Smart Solar Panels

Solar is a great source of clean energy to power your home. It is good for the environment and endlessly renewable. Smart solar panels are the latest in solar panel developments, allowing you to monitor individual panel performance and switch panels off and on as needed. Not only will solar energy save you money on energy expenses, it can also make you eligible for a federal tax credit program.

Your investment in each of these smart technology upgrades will vary depending on your home’s unique specifications, but all of them will undoubtedly increase the value of your home. Smart tech will give your home instant appeal to potential home buyers whenever you choose to sell. In the meantime, you will be able to enjoy the conveniences of these smart technology appliances!

 

8 Easy Updates that will Help Your NJ Home Sell Faster

When you take on the huge task of selling a home, it is easy to become overwhelmed with all of the necessary home improvement projects. The good news is you might not need to do a ton of big projects in order to make your home more appealing. If you know for a fact that your property doesn’t need any major repairs, you can focus on budget friendly, time saving, smaller updates in key areas. Here are eight ways to wow potential buyers for under $500.

1. Depersonalize Your Home

Potential buyers like to be able to envision themselves in any house they are viewing. This can be difficult with your family photos everywhere. Depersonalizing your space can help interested buyers see themselves making your house into a home of their own. You can depersonalize your space by removing photos, handmade art or gifts, sports memorabilia, and awards or certificates. Keep personal toiletries out of sight and clear bedside tables of everything but a lamp or a clock. You want your home to look warm and inviting without reminding potential buyers that someone else lives there.

2. Declutter Closets and Storage Spaces

Storage space is one of the big things people look for when viewing a house. If your home is lacking in storage space, you don’t have to build more closets to catch your buyer’s eye. Simply emptying your closets of half the contents can make them appear bigger. You can store clothing out of site or donate what you don’t use anymore. TIP: move the top clothing rail up and add a bottom rail for pants or skirts. This creates an illusion of more space and adds functionality. Also declutter your pantry, crawlspace, and attic to maximize the appearance of your home’s storage spaces.

3. Update Hardware

Old faucets and cabinet hardware can really date a home. It’s inexpensive and pretty easy to update these fixtures to create the appearance of an updated home. If your bathroom and kitchen faucets are more than a few years old, it is likely time for an update. Replace the cabinet hardware with matching, updated versions as well. This is a relatively cheap fix that won’t take you a lot of time but will mean a lot to potential buyers.

4. Update Light Fixtures

Like other fixtures, old lighting can really date a home. Light is a big part of creating an inviting ambiance to entice buyers. If your light fixtures are dented, faded, or scratched, it can make your house feel dingy. Update light fixtures with inexpensive and neutral choices. This can easily modernize your home and give the impression that the home is new and well-cared for. Opt for brighter bulbs to light up darker areas of the house.

5. Match Appliance Panels

Kitchens sell homes. As the heart of the home and the central hub of household activity, it’s crucial for potential buyers to see themselves eating and entertaining in the kitchen area. It might not be financially feasible or time efficient for a full kitchen remodel, but sometimes simple changes can go a long way. Changing out appliance panels so they match can give the kitchen an updated look. Stainless steel panels for your fridge or dishwasher can give your kitchen a modern and appealing appearance.

6. Deep Clean Carpets and Floors

Stained or musty carpet can be a major turnoff to potential buyers. If these issues exist in your home, consider having your carpets professionally cleaned. If your carpets are beyond repair, you may be able to save money on replacing them buy purchasing carpet remnants in the dimensions you need. Wood floors are currently a huge selling point, so if you have them – flaunt them. Hardwood floor cleaner can make sure wood floors are shiny and a wood stain marker can improve the appearance of scratches or stains.

7. New Paint

Fresh paint can vastly improve the appearance of your home. Paint can cover stains, minor scratches, and wall repairs. It’s an inexpensive way to give a few rooms an update. When choosing paint colors, stick to warm neutrals in modern shades like earthy grey or a soft tan. Before you paint, take the time to fill in any holes from hanging wall décor that were removed.

8. Curb Appeal

Adding some greenery to your front yard can create an enticing curb appeal to get buyers interested in what’s inside. Plant some colorful flowers, trim any existing bushes, and keep up on mowing the lawn. Choose vegetation that is local to your area and will require minimum upkeep. If you don’t have a walkway, create a defined path to the front door from the driveway or sidewalk with inexpensive solar lights.

 

NJ Real Estate: Inspection vs Walk Through

The walk-through will come towards the end of the home buying process, often the day before or morning of closing. A walk-through is the final chance for you to make sure you get what you pay for. Your contract will provide a full breakdown of what comes with the property you are purchasing. It will list how many rooms, appliances, and amenities are included in the sale as well as the condition they are in. If a contract states there are X number of bathrooms and X number of toilets, the walk-through ensures the seller is not flubbing on these details.

There is also a standard in New Jersey real estate, as well as in most states, for a property to be presented to the new homeowner as “broom-clean.” While it doesn’t have to be totally spotless, it should be in generally clean condition without any excess belongings left behind. The walk-through is your chance to note any remaining possessions from the previous owner and ask for them to be removed. Likewise, it is a time to notice things that are missing that you expected to be part of the sale. It often happens that buyers assume certain window treatments or light fixtures will be included in the sale only to be disappointed when they are not. If these things were included in the contract, make sure they are still there when you do the walk-through.

While a walk-through is typically done right before closing, in the instance of a condominium where a buyer may not have seen their actual unit up front, a walk-through might be scheduled a few weeks before closing. A condo walk-through normally includes a punch list, or a list of missing or broken items that should be fixed before closing.

During a walk-through, you should note any missing or broken appliances, holes, gaps, or major cracks in the walls or ceiling, and any legally essential safety equipment, like smoke detectors and carbon monoxide detectors. If you find anything missing or deficient, this is the last chance you have to bring it to the attention of the seller before closing.

The home inspection will come before the walk-through. The inspection is how the buyer determines the condition of the property to ensure there are no surprise issues or hidden damage. The buyer does not automatically have the right to inspect the property. Most buyers will put an inspection clause in the real estate contract that gives them the right to inspect the house before a sale has been finalized. The purpose of an inspection is not to nitpick over minor blemishes in the appearance of the property, but to uncover any glaring flaws.

Unless you are very experienced in real estate or home construction, you should hire a professional for the inspection. A professional will understand what to look for and will think of things you might not—like checking for a buried oil tank. If there are defects present, the buyer can attempt to negotiate to get these problems fixed. Depending on the way the market is leaning, the seller can decline or accept these terms before agreeing upon the sale. In a seller’s market, a seller can—and often times will—decline to fix even major issues.

If issues arise in negotiations over repairs, you don’t have to deal with it alone. Veitengruber Law can help you through every step of the real estate process. We can help you reach your real estate goals and make sure you are getting the best deal in the process.

NJ Real Estate Market is HOT as Weather Turns Cold

NJ real estate

In general, the real estate market tends to cool off with the weather. New Jersey sees some messy winters and it isn’t uncommon for low temperatures to keep people bundled up in their (current) homes. It’s true that some people looking for real estate in NJ will wait until the warmer months to pursue their real estate goals. But this year might see some atypical market trends emerging during the winter months. Being aware of these trends can help you successfully sell your home even when there’s a chill in the air. Here are some things you can watch for this winter.

1. Fewer Homes on the Market

Most people want to list their homes during the spring and summer months due to the commonly held belief that more potential buyers are house shopping in the warmer seasons. Because buyers know this, some may wait until the chilly season passes to seriously look for their dream home. However, less homes listed for sale doesn’t mean that your home won’t sell. In fact, when there are fewer homes on the market, buyers who are looking will be more inclined to take a second look at what you have to offer.

2. Carryover Into the New Year

Unlike previous years, real estate insiders expect the winter months this year to be busier than normal. Thus far in 2019, there were more people looking for houses than there were homes on the market. Buyers that weren’t able to purchase a home during the popular summer months will still be on the lookout for their dream property. Because of this, the market is rich with buyers and will be well into the winter months. This winter could be very profitable for the seller willing to keep their house open through the colder months.

3. “Interested Parties Only”

While there will be more buyers in this year’s winter market than normal, there are still less interested parties than in the spring and summer months. The holidays and cold weather tend to slow down the market. Buyers who are still looking in the winter are generally more serious about making a move and they know they’ll have less competition for homes during this time of the year.

4. You May Be More Motivated to Accept an Offer

If you have had your home listed for awhile, chances are good that you are eager to get the property sold. The longer a property sits on the market, the more it costs any owner. As your motivation to sell increases, you’ll likely find that you are willing to compromise a little more so that you can ultimately make the sale happen.

5. Real Estate Prices Are Rising

Zillow predicts that NJ home valuations and sale prices will increase another 1% as we round the corner into 2020. Specifically, single family homes will be in hot demand throughout this winter and into the warmer months of this upcoming spring and summer. Because demand looks like it will continue steadily, prices are only expected to rise further as we move through 2020, which is great news for sellers!

Neighborhoods throughout New Jersey are experiencing a hot market for real estate this winter. If you are thinking about buying or selling a property this season, Veitengruber Law has you covered. Your real estate plans don’t have to freeze with the temperatures. When you need us to look over your real estate contract, title paperwork and/or attend closing – we’re here for you no matter how frightful the weather.

NJ Quitclaim Deed: Explained

During a real estate transaction, there are several different ways to transfer title to a property. The most common type of deed used is a warranty real estate deed. This deed is used when a house is sold to a third party in a typical real estate transaction. The warranty deed is a legal promise that the person transferring the property has good title and the right to sell the property. A warranty deed includes protections for the buyer, the seller, and promises there are no liens on the property. Although a warranty deed is the most common deed, it isn’t always the best choice for every real estate transaction. Here we are going to look at quitclaim deeds and when to use them.

A quitclaim deed is often used when transferring property between family members. A quitclaim deed will transfer the title of a property but makes no promises about the owner’s title. In other words, a quitclaim will transfer the owner’s entire interest in the property to the person receiving the property, but it only transfers property the owner actually owns. Therefore, if the property is jointly owned—or split among different family members as with an inheritance—the owner can only transfer the portion of the property he or she actually owns.

It is important to note that deed transfers, warranty or quitclaim, only affect the ownership of a property and do not impact the mortgage on the property. This is especially important to keep in mind for those in a divorce situation where one spouse may quitclaim the property to the other. While the spouse relinquishing ownership over the property will have no rights to the property, they will still be responsible for the mortgage unless they remove themselves from the mortgage itself.

With all of that said, when should you use a quitclaim deed? Typically, if you are transferring ownership of a property without a traditional sale, it will be easier to use a quitclaim deed. This is often the case when property is being transferred between family members, married spouses, divorcing spouses, or when the property is being transferred to a living trust. It can also be used to clear up title to a property if there is a question about ownership right after a title search. Unlike with a warranty deed, a quitclaim deed requires no title search or title insurance making it fast and easy.

There is no quitclaim deed format specifically for New Jersey. An experienced real estate attorney can help you use a standard format to create your quitclaim deed. You will need to use the legal description of the property. This can often be found on the existing deed, a tax bill, or by contacting your local county clerk’s office. Once the quitclaim deed is completed, you will need to get it signed and notarized in the presence of a notary public. After that, you will need to file the deed with the county clerk’s office where the property is located. There is typically a small filing fee that varies by county.

As a full service real estate and estate planning law firm, Veitengruber Law can guarantee that your quitclaim deed is completed properly in compliance with local laws as well as filed correctly. Our  attorney and real estate team strive to handle all transactions with efficiency and professionalism. We can help you determine when and how to use a quitclaim deed to achieve your real estate goals.