New Home Sales Contracts: Flood Disclosures , Real Estate Consumer Protection Enhancement Act

Two recent laws have raised questions among new home builders how this affects their sales contracts.

BLSJ Legal Counsel Richard J. Hoff, Jr., Bisgaier Hoff will explain these two new laws and what builders and sellers need to do to comply with the laws.

The Flood Hazard Disclosure Law, beginning on March 20, 2024, imposes certain disclosure requirements on the sellers of real property and landlords. The required disclosures must be made before a purchaser is obligated under a contract for the purchase.

The “Real Estate Consumer Protection Enhancement Act”, signed into law in July, strengthens consumer and real estate licensee protections and will be effective August 1, 2024. The legislation was spurred as a result of the National Association of Realtors settlement earlier this year.

At the conclusion of the presentation, there will be an opportunity for builders and remodelers to raise issues that are impacting their business that they would like the Builders League to address.


 
About the Speaker

Richard J. Hoff, Jr. focuses his practice on all facets of land use, real estate, affordable housing law and commercial litigation, with a special emphasis in complex litigation. Rick has represented major commercial and residential developers, trade organizations, and landowners throughout the State of New Jersey in connection with real estate transactions, applications for zoning, land use approvals, real estate litigation, and affordable housing litigation.