Selling a distinctive South Jersey home

New Jersey transfer fees on sales over $1 million

When a New Jersey home sells, the state charges a Realty Transfer Fee (RTF) for recording the deed. The NJ Division of Taxation says the seller is responsible for it.

On sales over $1 million, a second charge applies: the Graduated Percent Fee. It was formerly called the Assessment on Real Property Greater than $1.0 million, often nicknamed the “mansion tax.” Buyers used to pay that charge. Under a 2025 law (P.L. 2025, c. 69), sellers now pay the Graduated Percent Fee on sales over $1 million. As the name says, the rate rises with the sale price.

Form RTF-1EE, the Affidavit of Consideration for Graduated Percent Fee, must accompany every deed for consideration over $1 million, and it describes certain exemptions. Here’s what that means for you. Check the Division of Taxation’s current rate schedule and ask your closing attorney to estimate both fees before you set a price, so your net proceeds are clear.

How unique homes appraise

An appraisal is a written opinion of how much a property is worth. Appraisers rely on comparable sales. When a home has unusual features, acreage, custom finishes or few recent sales like it nearby, finding good comparables can be harder.

If a buyer is financing, the lender orders the appraisal, and the buyer is entitled to a copy. If the buyer believes the appraisal has factual errors or omissions, or used inadequate comparable properties, the Consumer Financial Protection Bureau says they can ask the lender for a reconsideration of value (ROV).

For sellers, preparation helps. Cathy can help you organize a clear record of upgrades, permits and features, so the appraiser has the facts about what makes the home different.

Jumbo loans: what buyers of higher-priced homes should know

Fannie Mae and Freddie Mac are limited by law to buying single-family mortgages below a set amount, called the conforming loan limit. Loans above that amount are called jumbo loans. The Federal Housing Finance Agency publishes the limits each year for every county, and HUD’s loan limit tool also lets you look up a county’s figure.

The CFPB notes that the cost of getting a jumbo mortgage may be higher than the cost of a conforming one. Buyers should compare loan offers and get pre-approved early, especially when a price is close to the county limit.

If you’d like a lender recommendation, Cathy often works with Bradley Brondt, Branch Manager, NMLS 242550, The Brondt Cook Group at Acre Mortgage and Financial, Inc. in Cherry Hill. You’re free to choose your own lender.

Privacy and how your home is marketed

Some sellers want wide exposure. Others want to limit photos, showings or online marketing. Under the National Association of REALTORS® Multiple Listing Options for Sellers policy, a seller can choose an office exclusive listing, which is not shared through the MLS and not publicly marketed, or a delayed marketing listing, which holds off public marketing through IDX websites and syndication for a period the local MLS sets.

Either choice has trade-offs, because limiting exposure can mean fewer buyers see the home. The listing broker must get the seller’s signed disclosure showing informed consent before using either option. I want you to understand what you’re agreeing to, so Cathy walks through these choices with you before the listing goes live.

How Cathy works with sellers

Cathy Walters has been a licensed New Jersey real estate professional since 2007 and has called South Jersey home since 1984. She provides listing preparation, pricing strategy, marketing and seller representation across Burlington, Camden, Gloucester, Salem, Cumberland and Mercer counties.

Her strong eye for design helps sellers decide how to present a home, from which rooms to highlight to what to update before photos. She is also a Certified Real Estate Negotiator (2024).

Cathy’s concierge network includes real estate attorneys, contractors, CPAs, inspectors, appraisers, surveyors, insurance, home warranty, estate planners and mortgage professionals. She’ll help you connect the pieces so every part of the sale is handled by the right expert.

Before you list a higher-priced home: what to check

• Ask your closing attorney to estimate the Realty Transfer Fee and any Graduated Percent Fee.
• Gather records of upgrades, permits and special features for the appraiser.
• Decide how much privacy you want in photos, showings and online marketing.
• Review office exclusive and delayed marketing options and their trade-offs.
• Plan which rooms and features to present first, and what to update before photos.
• Check the county conforming loan limit so you understand how buyers may finance.