new jersey real estate: This just in: $15,000 Home Buyers Tax Credit for New Jersey
- 05/25/10 05:14 AM
NJ Home Buyer Tax Credit Legislation Approved by General Assembly From the New Jersey Association of Realtors alert today: As a means of bolstering the Garden State's economy, the approved bill creates a refundable tax credit of up to $15,000, or 5 percent of a home purchase price (whichever is less) for qualified home buyers. Bill A-1678/S-692, was approved by the General Assembly establishing a New Jersey Home Buyer Tax Credit Program under the state gross income tax for home purchases made within a one year period following enactment of the law. If eligible for the credit, home purchasers will receive the credit over three … (4 comments)
It's illegal right now in New Jersey, but pending legislation would allow real estate brokers to pay clients a portion of their commissions at the close of a deal. New Jersey is one of just 11 states that don't allow the incentive, said Sen. Nicholas P. Scutari (D-Union), one of the bill's sponsors. It would be up to the individual real estate agent to decide whether to pay the client and how much. "We're trying to help the real estate market and to allow real estate agents and brokers to make deals happen," Scutari said. … (6 comments)
new jersey real estate: Consumer Rebates on Real Estate Transactions Proposed in New Jersey
- 12/18/09 12:53 PM
New Jersey currently prohibits rebates or incentives to consumers, as well as referral incentives to non-licensees. Now, the NJ Senate's Commerce Committee proposes allowing just brokers, not real estate salespersons to offer rebates. I know states vary on policies. I recently saw a reminder on a great Toronto real estate blog that the agent happily gives generous American Express Gift Certificates for client referrals. I know consumer rebates on closed transactions and referral incentives are related, though separate topics. I'd love to hear your thoughts on this. Does your state allow rebates? Referral incentives? Do you think they should be … (0 comments)
Covering real estate news in Red Bank and the surrounding Jersey Shore towns of Fair Haven, Rumson, Little Silver, Shrewsbury, Holmdel, Middletown, Colts Neck, Navesink, Sea Bright, Monmouth Beach, Tinton Falls.
NJ Home Buyer Tax Credit Legislation Approved by General Assembly
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