Looking To Sell Your Long Beach Island “LBI” Home?

Both sides of a transaction should hire a Real Estate Attorney to protect their interests in a contract agreement. It is HIGHLY recommended to always use a Real Estate Attorney. Expect costs to be between $1,000-$2,000

*all numbers given are estimates

The seller is expected to pay the commission upon the sale to both agents’. Commission typically is 4-6% of sales price.

The Realty Transfer Fee is imposed upon the recording of deeds evidencing transfers of title to real property in the State of New Jersey. The Realty Transfer Fee is calculated based on the amount of consideration recited in the deed or, in certain instances, the assessed valuation of the property conveyed divided by the Director’s Ratio. Payment of the Fee is a prerequisite for recording the deed. The R.T.F. is usually collected at the real estate closing by the legal representatives or title insurance agents responsible for recording the deed at the county registry offices.

Click here for the link to the New Jersey Division of Taxation with Transfer Tax Rates.

This tax applies if you are a non-New Jersey resident and you sell a home in New Jersey:

2% of sales price

A Certificate of Occupancy is required in New Jersey during the change of ownership. During this the town gets the opportunity to inspect the property for safety and code violations.

(Issued from municipality, may also require certificate for Carbon monoxide, fire extinguisher, smoke detector, and in some cases the instillation of a curb): $75.00 for single family, $150 for multifamily, and $25.00 for any re-inspections, $150.00-$250.00 for the installation of any smoke detectors, CO2 detectors, fire extinguishers, etc that may be needed.

In some cases the buyer may be held responsible for the Certificate of Occupancy. This often happens with “as is” properties for sale.

*Long Beach Township prices, other municipalities may vary

Miscellaneous expenses could include filing a required deed restriction, fixing an item for the Certificate of Occupancy, and more.

Budget for approximately $500

Some townships (Surf City & Long Beach Twp) require the instillation of curbs in front of homes that do not already have them. Cost can vary due to the amount of feet of concrete needed and material costs. A performance guarantee may be posted with the Borough for curbs required at the time of exchange of ownership evidencing that all required curbs will be constructed within 90 days of the date of exchange. The Borough shall establish the amount of the performance guarantee which shall be a minimum of twice the cost to actually install said curb based on prevailing rates.

Approximate cost: $1,000-$3,000

As of July 10, 2025, New Jersey has shifted the mansion tax (officially called the Supplemental Realty Transfer Fee) from the buyer to the seller for all real estate transactions of $1 million or more.

This fee is paid in addition to the standard Realty Transfer Fee (RTF), which sellers already cover.

The new mansion tax is tiered based on sale price:

• $1,000,000 to $1,999,999 = 1%

• $2,000,000 to $2,499,999 = 2%

• $2,500,000 to $2,999,999 = 2.5%

• $3,000,000 to $3,499,999 = 3%

• $3,500,000 and above = 3.5%

This percentage applies to the full recorded sale price. It cannot be reduced by including furniture, personal property, or through concessions.

https://www.nj.gov/treasury/taxation/realty.shtml