Bill > A4994

This bill establishes certain requirements for the purchase and resale of single-family homes within one year of receiving a certificate of occupancy. The key provisions include: 1) Real estate brokers must obtain an attestation from the "short-term reseller" (a homeowner who purchased, renovated, and resold the home within one year) that they complied with the State Uniform Construction Code; 2) Buyers must also agree to comply with the Construction Code during their ownership; 3) The buyer must have a New Jersey-licensed home inspector inspect the home prior to closing, with the cost covered by the short-term reseller; 4) Short-term resellers who falsely attest to compliance face a penalty of up to $10,000; 5) Home inspectors are protected from liability if they made a good faith effort, but may face penalties for negligence; and 6) Buyers have a cause of action against short-term resellers for damages due to non-compliance with the Construction Code.

Housing and Urban Affairs

https://www.njleg.state.nj.us/bill-search/2022/A4994