The sequence is the same for a $900,000 colonial in Harrington Park and a $9,000,000 estate in Alpine; what changes is the weight of each step. The higher the price, the more a valuation has to carry, because fewer comparable sales exist, and the more the choice between a public listing and a private sale matters, because the pool of likely buyers is small enough to be reached one at a time. Each section below names the statute, regulation or published rule it rests on, and links the fuller reference page on this site.
Step 1: a valuation, before anything is signed
The first decision is the price the property will be offered at, and it comes from comparable sales, adjusted for what recorded prices flatten: condition, finish level, lot, light, layout and how a renovation was actually executed. In New Jersey a broker’s written comparative market analysis is a pricing judgment, not an appraisal; by Real Estate Commission rule it must state that it is not an appraisal (N.J.A.C. 11:5-6.1(m)). An appraisal is a licensed opinion of value prepared to a defined standard, usually for the buyer’s lender, and it arrives later in the sale. The method, and why an automated estimate is a starting point rather than a valuation, is set out in how a Bergen County home is valued.
Before any discussion of price or motivation, a licensee must explain the four business relationships New Jersey recognizes and deliver the Consumer Information Statement (N.J.A.C. 11:5-6.9(e)). The rule puts that conversation first, so the valuation conversation follows it.
Step 2: the disclosure statement and the written agreement
Since August 1, 2024 every seller of residential real property in New Jersey must complete and sign the State’s Seller’s Property Condition Disclosure Statement, under P.L. 2024, c. 32 and the Division of Consumer Affairs’ August 2024 instructions. Its Flood Risk section answers eight questions required for every sale of real property on or after March 20, 2024 (N.J.S.A. 56:8-19.2), and for housing built before 1978 the federal lead-based paint disclosure applies as well (40 C.F.R. § 745.107). The buyer receives the completed statement before becoming obligated under any contract. What the form asks, what the courts require beyond it, and why an “as is” clause does not excuse silence about a known hidden defect are in what a New Jersey seller must disclose.
The same 2024 statute requires a written brokerage services agreement that states whether a notice of the property will be circulated in a multiple listing service (N.J.S.A. 45:15-16.94(b)(2)) and discloses that the brokerage firm’s compensation is fully negotiable and not set by law. That one line in the agreement is where the public-or-private decision is recorded.
Step 3: a public listing or a private sale
The Commission’s default is cooperation. Unless the owner directs otherwise in writing, every licensee must cooperate with every other New Jersey licensee, which includes notifying any multiple listing service to which the listing is to be submitted (N.J.A.C. 11:5-6.4(f)). A seller who chooses a private sale signs the Commission’s prescribed waiver, which opens with the owner’s acknowledgment that cooperation among brokers produces wider exposure and may result in a faster sale at a higher price. The seller is told the cost of privacy before choosing it.
A public listing suits a seller whose first requirement is the widest pool of offers. A private sale suits a seller whose first requirement is that the sale not be visible: no MLS entry, no portal syndication, no open house, buyers qualified and introduced individually. A property offered privately can be listed publicly afterwards; the election in the agreement is changed in writing. The mechanics, and what does not change in a private sale, are in how an off-market sale works in New Jersey.
Whichever path is chosen, presentation is settled before the first showing. Because B&Co. Realty, B&Co. Design | Build and B&Co. Surfaces work under one roof, the question of which improvements support the property’s positioning, and which do not pay back, is answered by the people who would carry out the work. The Journal essay Before the Camera covers when photography should begin, and The Honest Number makes the case for a calibrated asking price.
Step 4: offers, the contract and attorney review
Every written offer and counteroffer is presented promptly, with written confirmation of receipt, and each party is advised to obtain its own expert advice (N.J.S.A. 45:15-16.94). A licensee may prepare the contract of sale for a one-to-four-family home, and every such contract must carry the attorney-review clause (N.J.A.C. 11:5-6.2(g)): for three business days from delivery of the signed contract, not counting Saturdays, Sundays or legal holidays, an attorney for the buyer or the seller may disapprove it, and no reason need be stated. Since Conley v. Guerrero (2017) a notice of disapproval may be sent by fax, e-mail, personal delivery or overnight mail with proof of delivery. If no attorney disapproves, the contract becomes binding as written at the end of the period.
No statute or rule requires either party to retain an attorney; attorney review is a right, not a requirement, and it cannot be waived. The period, where it comes from and what follows it are in how attorney review works in New Jersey.
Step 5: the inspection period and the appraisal
The signed contract sets the inspection period; no statute fixes it. A home inspection for compensation may be performed only by someone licensed under the Home Inspection Professional Licensing Act (N.J.S.A. 45:8-61 et seq.), and it reports the condition of what the inspector could observe across nine defined systems; it is not a determination of value. Radon testing is a separate certification under the Department of Environmental Protection (N.J.A.C. 7:28-27.3), and a qualifying private well must be tested before closing under the Private Well Testing Act. What is inspected, what is excluded and who performs each test are in what a New Jersey home inspection covers.
If the buyer is financing, the lender orders an appraisal, and the main loan programs size the loan on the lower of the contract price and the appraised value (Fannie Mae Selling Guide B2-1.2-01). A low appraisal does not cancel the sale on its own; what the parties may do next depends on the contract they signed. The seller’s side of that question is in what happens when the appraisal comes in low.
Step 6: what the seller pays at closing
New Jersey imposes two charges on the deed, and both are the seller’s. The Realty Transfer Fee is paid by the grantor when the deed is recorded, on a banded schedule: for a sale over $350,000 the rate runs from $2.90 per $500 of consideration on the first $150,000 to $6.05 per $500 above $1,000,000 (N.J.S.A. 46:15-7, Division of Taxation schedule). For transfers on or after July 10, 2025 the seller also pays the Graduated Percent Fee, still called the mansion tax, on any consideration over $1,000,000: 1 percent of the entire price up to $2,000,000, 2 percent up to $2,500,000, 2.5 percent up to $3,000,000, 3 percent up to $3,500,000 and 3.5 percent above that, under P.L. 2025, c. 69 as the Division of Taxation’s memorandum of July 2, 2025 sets it out. Each rate applies to the whole price, not the portion above the threshold, so the bands are cliffs: one dollar more than $3,000,000 moves the fee from 2.5 percent to 3 percent.
| Charge | Rule | Amount |
|---|---|---|
| Realty Transfer Fee, over-$350,000 schedule | N.J.S.A. 46:15-7 | $33,775 |
| Graduated Percent Fee, 2.5 percent of the entire price | P.L. 2025, c. 69 | $75,000 |
| Total to the State at recording | $108,775 |
A seller who is not a New Jersey resident also makes an estimated Gross Income Tax payment before the deed is recorded, 10.75 percent of the gain and never less than 2 percent of the sale price, credited against that year’s return (Technical Bulletin TB-57(R)); a resident certifies residency on Form GIT/REP-3 and makes no such payment. Commission, the mortgage payoff, title charges, attorney fees and prorations are set by agreement, not by statute. The schedule, the exemptions and a worked example at each price band are in what a New Jersey seller pays at closing; the buyer’s side is in what a buyer pays.
How long does a sale take?
The law fixes one clock: the three business days of attorney review. Every other period, from the inspection window to the closing date, is set by the contract the parties sign, and the time from first showing to accepted offer depends on the price, the property and how it is marketed. The county-level figures the State’s REALTORS® association publishes each month, including median days on market, are reported on the Bergen County market page; a county median describes the county, not any one house. Property taxes are prorated at closing on the municipal rate, and the rates for seventeen Bergen County towns are tabulated in the property-tax reference.
This page describes the framework, drawn from the statutes, the Commission’s rules and the Division of Taxation’s published schedules, and is not legal or tax advice. How a particular contract term operates is a question for the seller’s own attorney. Sources reviewed October 25, 2026.