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Overlooking the Inland Waterway
What a setting! This home affords privacy, spectacular views and plenty of space for family and friends along the Cape May Canal and close to all area attractions. Decks, porches, gardens, lots of amenities - you must see this home to appreciate it.
416 Portsmouth Road,
Cape May
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Jersey Fresh Food and Fun Q: Where can you find Jersey Fresh fruits and vegetables, barbeque, seafood, great entertainment, friends, and shopping booths with a variety of fun things for the shore? A: At the West Cape May Farmers Market, held every Tuesday, June 28 through August 30, from 3 - 7pm, at the Backyad Park behind the West Cape May Borough Hall at 732 Broadway. New this year are weekly themes. For the complete schedule, click here. |
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NJ Bulk Sales Law...
You may have recently heard the buzz about the NJ Bulk Sales Law. In a nutshell, the law has been applied to residential properties. Hence, Realtors have been advised to have buyers include in agreements of sale the requirement that the state be notified of the sale to determine if any taxes are owed by the seller. If the state isn't notified, and the seller owes taxes, the buyer may be liable for the taxes after closing. The state, once it has notice of a sale, often requires the seller to escrow funds from closing to cover whatever taxes may be due. The state then performs a review, which could take months, to investigate any tax obligations. Needless to say, this can have far reaching effects on all parties.
As of the writing of this newsletter, NJ State Legislature has passed a bill that would exempt certain residential and seasonal rental properties from the law. The bill is currently awaiting Governor Chris Christie's consideration and, hopefully, his signature.
Frequently Asked Questions about Bulk Sales Tax
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Visit our sales archive.
Take a look at recent sales on Cape Island. Curious about the value of your home? We'd be happy to do a market analysis for you. Give us a call or send us an e-mail with any questions.
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