Prohibits seller of residential real estate from requiring potential buyers to disclose down payment when presenting offer to seller.
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Progress
Where this bill stands in the legislative process.
- Introduced
- Passed General Assembly
- Passed Senate
- To Governor
- Became Law
Overview
This bill protects potential homebuyers in New Jersey by preventing sellers from requiring them to reveal their planned down payment when submitting a purchase offer. It clarifies that a ‘down payment’ is a sum paid upfront as a percentage of the home’s price. Sellers who violate this law could face a civil penalty of up to $1,000. The law also defines ‘residential real estate’ to exclude multi-unit dwellings with more than four residential units.
Bill text
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1 on record
Primary sponsor
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