Did you know?

Did you know an expense commonly overlooked when buying and selling a home is taxes? It’s true! Run the numbers and then run them 3 more times. I have seen veteran Realtors fail their clients in this way. Up to 1 million dollars there is a 7% sales tax due at closing in NJ that is not always included in closing costs and certainly not included in the price of the home. Houses valued over 1 million include a ‘mansion tax’. Million+ houses pay 8%. This is a bargaining chip for buyers to submit an offer with the addendum to have the seller split or pay the taxes entirely for the coming year. Know what you know, know what you don;t know and surround yourself with people who know what you don’t know. -Greg Mrozak Sales Associate 856-332-5747 RE/MAX SELECT 908-233-9292
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