FAQ

The questions clients actually ask.

Sixteen years of listings and closings in Middlesex, Union and Somerset counties produce the same twenty-five questions. Here are direct answers, grouped by stage — including the ones where the honest answer is “ask your accountant”.

What I do and do not handle

Residential sales and buyer representation across Middlesex, Union and Somerset counties. I do not handle commercial brokerage or property management. If you need either, say so early and I will refer you to someone who does that work properly.

Buying a home

Do I have to sign a Buyer Representation Agreement before touring homes in NJ?


Yes. Since the 2024 industry settlement took effect, a written buyer agreement must be in place before an agent tours you through a home. It is not a trap — it is the document that states what I do for you and how I am paid, in writing, before either of us spends a Saturday in the car. It can be limited to a single property or a short term while you decide.

Why are oil tank sweeps and radon tests critical for Central Jersey older homes?


Both are standard here and both are worth the money. Many Central Jersey homes built before 1970 were heated with oil, and an abandoned underground tank can mean a remediation bill in the tens of thousands. A sweep costs a few hundred dollars. Radon is a naturally occurring gas common in this region; the EPA action level is 4.0 pCi/L, and above that a mitigation system typically runs $1,200 to $2,000 and is often negotiated with the seller.

What should buyers know about the New Jersey Flood Risk Disclosure Law?


Yes. New Jersey's flood risk disclosure law requires sellers and landlords to disclose known flood history and whether the property sits in a FEMA Special Flood Hazard Area or moderate-risk zone. Read it carefully even outside the mapped zones — the maps lag reality, and a home that has taken water twice in ten years will do it again.

What critical HOA rules and rental caps should buyers check before purchasing?


Four documents: the reserve study, the master insurance certificate, the last two years of meeting minutes, and the rental cap. Underfunded reserves mean a special assessment is coming. Expect a one-time capital contribution at closing, commonly between $500 and $2,000. If you might rent the unit out later, confirm the rental cap has room — many Central Jersey associations are already at their limit.

Why do I need an independent buyer's agent when purchasing from a builder?


Because the builder's representative works for the builder. They are pleasant and well informed, and their obligation runs to the seller. An independent agent reviews the builder's contract before you sign it, tracks which upgrades hold value and which do not, insists on an independent inspection before drywall and again before closing, and holds the delivery date to what was promised. In most new construction the builder pays the buyer-side commission anyway.

How do buyers negotiate inspection repair credits during the contingency period?


In New Jersey the repair request is submitted formally by your attorney rather than agreed verbally between agents, and it follows the inspection report inside the 10-to-14-day contingency window. Negotiations realistically move on three categories: structural defects, environmental findings such as oil tanks, radon or mould, and mechanical systems near the end of their service life. Cosmetic items rarely persuade a seller. The outcome is usually one of three — the seller repairs before closing, you take a closing cost credit, or the price is reduced. I generally push for the credit, because it puts the money under your control and does not depend on the seller hiring a good contractor in a hurry.

Selling a home

How much capital gains tax exemption do I get when selling my primary residence?
Often not. Under IRS Section 121, if the home was your principal residence for at least two of the previous five years, you can generally exclude up to $250,000 of gain filing single, or $500,000 filing jointly. Gain above that, or a property that no longer qualifies, is where planning matters. This is a question for your accountant, and I am glad to give them the numbers.
Who pays the NJ Mansion Tax on residential home sales over $1 million?
The seller. Effective July 10, 2025, the charge became a graduated percent fee paid by the seller — previously the buyer paid a flat 1%. It starts at 1% of the entire consideration above $1,000,000 and rises through 2%, 2.5% and 3% to 3.5% above $3,500,000. Because the rate applies to the whole price rather than the excess, crossing a bracket line is expensive and belongs in your pricing strategy.
What municipal CCO and fire certifications are required before closing?
Most New Jersey municipalities require a Certificate of Continued Occupancy plus a fire safety inspection before title transfers. The fire certificate typically requires ten-year sealed battery smoke detectors at the correct locations, carbon monoxide alarms, and a labelled 2A:10B:C fire extinguisher mounted near the kitchen. Requirements and fees vary by town, so we confirm yours the week we list rather than the week we close.
What is included in a free CMA valuation, and how does it determine market price?
A written comparative market analysis: closed sales from roughly the last 90 days within your immediate area, adjusted for square footage, lot, condition, school assignment and updates; the active and pending competition you would be listed against; days-on-market and list-to-sale ratios; and a recommended price band with the reasoning attached. Not an automated estimate pulled from a database.

Financing and costs

What are realistic buyer closing costs for a $600K–$800K home in Middlesex County?
Budget 2% to 4% of the purchase price. On a $600,000 to $800,000 home that typically means loan origination of 0.5% to 1%, appraisal $500 to $750, inspection with radon and tank sweep $600 to $1,100, title insurance and search $2,500 to $3,500, attorney $1,200 to $1,800, plus three to six months of tax and insurance escrow collected up front. I give every client a written estimate before we write the offer.
Do I really need a 20% down payment to buy a home?
No. Conventional loans go as low as 3% to 5% down for qualified buyers, and FHA at 3.5%. Twenty percent is not a requirement — it is the threshold at which private mortgage insurance falls away. In a market where prices have kept moving, waiting three years to assemble 20% has cost some buyers more in appreciation than they saved in PMI. New Jersey also runs down payment assistance programs worth checking.
What is title insurance and how is it calculated in New Jersey?
Rates are state-regulated and filed through the New Jersey Land Title Association, so they are effectively the same wherever you shop — commonly $2,500 to $3,500 on a Central Jersey purchase. What you can compare is the search and settlement fees layered on top. It is a one-time premium covering defects in the chain of title that no search uncovered, which in a state with three centuries of deeds is not a theoretical risk.
Who pays the buyer's agent commission under post-settlement rules?
Since the 2024 settlement, it is negotiated and stated in your written buyer representation agreement rather than assumed from the listing. In practice the seller still offers buyer-side compensation in many Central Jersey transactions, and where they do not, it becomes a term we negotiate into the offer. Either way you will know the number in writing before you tour a single home.

Legal, closing and property tax

How does the 3-day attorney review work, and can another buyer outbid me?
Once both parties sign a realtor-prepared contract, each side's attorney has three business days to review it and may cancel or modify it for any reason. During that window the contract is not yet binding, and a seller can still accept a better offer. That is why we move quickly on inspections and why I keep a backup offer engaged until review is complete.
What is the typical timeline and escrow process from contract to closing in NJ?
In New Jersey most financed purchases close 30 to 45 days after attorney review ends, and the sequence is predictable: inspections in the first 10 to 14 days, the appraisal ordered immediately after, two to three weeks for the lender to issue written loan commitment, title examination running in parallel, then the municipal CCO and a final walk-through in the closing week. An all-cash purchase can close in two to three weeks. The two steps that most often add a week are the appraisal and a CCO re-inspection when the town flags something small like a smoke detector placement.
How do I appeal an unfair property tax assessment under NJ Chapter 123?
Yes, and in this market many homeowners should look. Under New Jersey's Chapter 123 test, an appeal succeeds when your assessed value falls outside a statutory margin around true market value. The filing deadline is April 1, or May 1 in a town that has just completed a revaluation. You appeal the assessment, not the tax rate, and you need comparable sales to support it — which is where I can help.

Investing and insurance

How does a 1031 tax-deferred exchange work for real estate investors?
If you sell an investment property and reinvest in like-kind property, Section 1031 lets you defer the capital gains tax. The timeline is strict: you have 45 days from closing to identify replacement property in writing, and 180 days to close on it. The proceeds must never touch your hands — a Qualified Intermediary holds them, and that has to be arranged before your sale closes, not after.
What are the key NJ landlord-tenant protections and security deposit rules?
Two New Jersey rules matter most. A security deposit cannot exceed one and a half months rent and must be held in a New Jersey interest-bearing account, with the interest belonging to the tenant. And under the Anti-Eviction Act a residential lease does not simply expire — it rolls into a month-to-month tenancy, and a tenant can only be removed for statutory good cause. That surprises many first-time investors: buying a tenant-occupied property means inheriting the tenant, not receiving a vacant unit. Verify the deposit amount, where it is held, and the lease status before closing rather than after. I handle residential sales only and do not offer property management, so for ongoing management I refer you out.
What is the difference between Term Life and IUL for homeowner mortgage protection?
Term life is pure protection, cheap and finite — often $30 to $60 a month for a healthy forty-year-old, covering a fixed period. An indexed universal life policy is permanent insurance with a cash value component linked to an index, typically $300 to $500 or more a month for meaningful funding. They solve different problems. Anyone who tells you one is always the right answer is selling, not advising.
What additional wealth protection and insurance services do you provide?
Alongside real estate, Jasmine holds a New Jersey insurance producer licence and works through Premier Financial Alliance on mortgage protection, income replacement and tax-advantaged IUL strategies. The practical reason to have both under one roof is timing: the month you take on a 30-year mortgage is the month your financial exposure changes, and that is usually the month nobody has time to think about it. This sits under a separate licence and is a separate conversation from your transaction — never a condition of it, and never a requirement for representation. Not tax, legal or investment advice.

Working with Jasmine

What is Jasmine's experience, track record, and core coverage areas in Central Jersey?


Jasmine Tsui has sixteen years in Central New Jersey residential real estate, with more than 200 closed transactions and over $100 million in career sales volume. She is a five-time NJ REALTORS® Circle of Excellence award winner and a Top 1% Weichert agent companywide, with 220+ verified five-star reviews across Zillow and Google. Core coverage is Edison and North Edison, Metuchen, East Brunswick, Piscataway, Bridgewater, Warren Township, Scotch Plains and Westfield, across Middlesex, Union and Somerset counties. Residential sales and buyer representation only — no commercial brokerage and no property management.

Do you offer bilingual/trilingual services in English, Mandarin, and Cantonese?


Yes — English, Mandarin and Cantonese, all three fluently. That matters most in the moments that decide a deal: a multiple-offer strategy call at nine on a Sunday night, an inspection report full of terms nobody translates well, or explaining attorney review to parents overseas who are funding the purchase. Nothing important gets lost because of language.

Where can I access dedicated Chinese-language real estate guides and school info?


HomeRunNJ.com is the Chinese-language companion site — 新泽西买房卖房网 — carrying the same guides, school district material and market commentary written directly in Chinese rather than machine translated. NextMoveNJ holds the English versions, and the two sites are cross-linked page by page so you can switch language on the same topic without hunting for it. If you read more comfortably in Chinese, start there; if your spouse or children prefer English, they can read the equivalent page here.

How do I schedule a home tour or direct consultation?


Call or text (201) 920-5825 directly, or use the contact form on this site and select what you want to discuss along with your realistic timeframe — immediately, one to three months, six to twelve months, or longer than a year. A first consultation carries no charge and no obligation, whether that is a buyer roadmap, a home valuation, or a straight second opinion on numbers you already have from somewhere else. Available in English, Mandarin or Cantonese.

General information for New Jersey buyers and sellers, current as of 2026. Not legal, tax or insurance advice. Municipal requirements, fee schedules and program rules change — confirm specifics with your attorney, accountant and town before relying on them.

NEXT STEP

Question that isn't on this list?

Text or call and ask it directly. I would rather answer a question early than fix a misunderstanding at the closing table.

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