New Jersey Commercial Property Sales Package

State:
New Jersey
Control #:
NJ-P021-PKG
Format:
Word; 
Rich Text
Instant download

Description New Jersey Property Nj

With this Commercial Property Sales Package, you will find many of the forms that are part of closing a commercial real estate transaction.


Included in your package are the following forms:



1. A Contract for the Sale and Purchase of a Commercial Lot or Land without a Broker;

2. A Option for the Sale and Purchase of a Commercial Building;

3. A Option for the Sale and Purchase of a Commercial Lot or Land;

4. An Addendum for Environmental Assessment of Threatened or Endangered Species or Wetlands;

5. An Addendum for Continued Marketing of Property by Seller due to Contingencies;

6. An Exchange Addendum to Contract for Tax Free Exchange under Section 1031;

7. A Tax Free Exchange Agreement pursuant to Section 1031; and

8. A Fixed Rate Promissory Note Secured by Commercial Real Estate.



Purchase this package and save up to 30% over purchasing the forms separately!

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Property Sales Form Other Form Names

Nj Sales Form   Jersey Real Estate Commercial   New Jersey Property Online   Commercial Property Sales Form   Commercial Real Estate Forms   Sell My Commercial Properties In New Jersey   Jersey Commercial Property  

Commercial Property For Sale In Nj FAQ

The mansion tax applies to real estate purchases over $1 million.This tax applies to both Class 2 and Class 4A Commercial properties. This includes residential properties (including single-family homes), office buildings, and most conventional commercial properties.

State. Zip. The seller must collect the tax on a sale of taxable property or services unless the purchaser gives him a fully completed New Jersey exemption certificate. The undersigned certifies that: (1) He holds a valid Certificate of Authority (number shown above) to collect State of New Jersey Sales and Use Tax.

Step 1 Begin by downloading the New Jersey Resale Certificate Form ST-3. Step 2 Identify the name and business address of the seller. Step 3 Describe the nature of merchandise or service of the buyer.

Realty Transfer Fee: Sellers pay a 1% Realty Transfer Fee on all home sales. The buyer is not responsible for this fee. However, buyers may pay an additional 1% fee on all home sales of $1 million or more. You can find more information on the Realty Transfer Fee, including rates and exemptions, here.

Step 1 Begin by downloading the New Jersey Resale Certificate Form ST-3. Step 2 Identify the name and business address of the seller. Step 3 Describe the nature of merchandise or service of the buyer.

Key Takeaways for New Jersey Home Sellers Sellers in New Jersey will need to pay 1-3% of the sales price for closing costs in addition to the typical 6% realtor commission fee. These fees include a title search, transfer taxes, mortgage prepayment penalties, and the New Jersey Mansion Tax, if applicable.

Purchaser: Complete this certificate and give it to the seller. Seller: If this certificate is not completed, you must charge sales tax. Keep this certificate as part of your records. This is a blanket certificate, unless one of the boxes below is checked.

Sellers in New Jersey will need to pay 1-3% of the sales price for closing costs in addition to the typical 6% realtor commission fee. These fees include a title search, transfer taxes, mortgage prepayment penalties, and the New Jersey Mansion Tax, if applicable.

You can apply for New Jersey sales tax exemption before you receive an IRS 501(c)(3) determination letter by submitting your REG-1E application upon formation of your organization. The Division will keep your REG-1E on file for one year and then process it once you send the IRS 501(c)(3) determination letter.

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New Jersey Commercial Property Sales Package