What should I know when buying or selling a home?

In order to avoid purchasing a home and later receiving a surprise or unexpected Added Assessment bill for work performed by the prior owner with or without the proper construction permits. Request that your attorney order a "Municipal Tax Search" from the Wyckoff Municipal Clerk. The cost is $10 and it is routinely provided within 2 to 4 days of receipt of the request. This search will provide a listing of any unpaid tax payments, unpaid sewer payments, open building or plumbing permits, and any potential Added and/or Omitted Added tax assessments. This will make you aware of a pending tax increase due to an improvement performed by the prior owner.

Any person selling a home should contact the Construction Office in the lower level of Town Hall to ensure all construction permits are completed, and final inspections performed sufficiently before a scheduled home closing. The phone number is (201) 891-7000 ext 304.

If it is discovered that permits and/or Certification of Occupancy have not been obtained, or that there may be an Added Assessment or Omitted Assessment pending, it is suggested that you ask your attorney to address the issue of potential fines or assessments in your closing documents.

Additionally, you should be aware of any tax appeal or other litigation pending for the property. Purchasers of commercial properties should inquire as to whether or not the current owner has complied with the filing requirements for Chapter 91 (Income and Expense) statements. Non-compliance may preclude the purchasers from the appeal process.