nj really sucks - NJFBOA - Home of New Jersey's Camaros and Firebirds

baddest434 · 07-21-2006, 10:17 AM

we were thinking about selling our house and taking the equity and paying cash for a house somewhere in north carolina. kinda slow things down and enjoy life a little more. well i find out that NOW in nj if you sell your house to move out of state there is a 12% "relocation fee" that you have to pay to the state. what ********, and if you use a realator they take up to 6%. so you sell for say 350k the state will take approx. 37k and the realator 18k thats over 50k right off the top. i didn't believe the state charging you to leave nj thing was true but i inquired and yes it is true. what b.s.

Tsar · 07-21-2006, 10:24 AM

***** it does suck...

LMAO at your avatar. I like it but i think admins will get bend out of shape about that

Rob WS6 · 07-21-2006, 10:31 AM

So move to a friends/family members for a week then move where you want to go. Theres always a way to beat this ****ed up system. I can get more specific info on this if you need it.

baddest434 · 07-21-2006, 10:43 AM

thats what i was thinking rob. there has to be a way around it.
guess i should change my avatar before the admin get pissed at me. i found it funny as hell though

79CamaroDiva · 07-21-2006, 10:56 AM

i don't see anything wrong with the avatar, unless you already changed it....

JL8Jeff · 07-21-2006, 10:58 AM

I've never heard of this "relocation" fee. My older brother just moved from Ewing to Yardley, PA 2 years ago and he never mentioned it. If this was true, you could sell your house and move into an apartment short term. Then leave the state. I don't see how they could even attempt to charge a tax/fee like that.

slugger27nj · 07-21-2006, 11:05 AM

Quote:

Originally Posted by JL8Jeff

I don't see how they could even attempt to charge a tax/fee like that.

These sons-a-bitches have no shame, and they'll take us for all they can get, anyway they can get it.

jola · 07-21-2006, 11:16 AM

That's terrible. My mom is a realtor, so if I remember, I'll ask her about it when I get home.

Tsar · 07-21-2006, 11:36 AM

Quote:

Originally Posted by 79CamaroDiva

i don't see anything wrong with the avatar, unless you already changed it....

yes he already changed it

Koll · 07-21-2006, 12:13 PM

Thats why we havent moved to florida yet. We already have the house there and everything. BTW do the percentages for 1.2mil and see how pissed my family and I are.

baddest434 · 07-21-2006, 12:35 PM

if anyone has any info on this i would appreciate reading about it. i hear that it was recently passed. i'm to lazy to do a search and i'm on vacation

and tsar that was funny wasn't it. not for everyone though

12secondv6 · 07-21-2006, 12:40 PM

Hell.... rent an appartment in nj.... make it "your official mailing address." then move out of this place

Tsar · 07-21-2006, 12:52 PM

Quote:

Originally Posted by baddest434

and tsar that was funny wasn't it. not for everyone though

hell yea man, it was awesome but i thought id give u a fair warning before admins see it

JL8Jeff · 07-21-2006, 12:54 PM

Quote:

Originally Posted by baddest434

and tsar that was funny wasn't it. not for everyone though

Actually, it was a little disturbing. But it was funny too!

firehawk1120 · 07-21-2006, 01:15 PM

baddest check PM'S give me a call I have a question and maybe I can answer this for you.

shane27 · 07-21-2006, 01:29 PM

what an effing load of crap. i bet this was just made since everyone wants to move out of here, becasue of our horrible state government. im seeing for sale signs everywhere

firehawk1120 · 07-21-2006, 01:32 PM

no matter where you go you'll see for sale signs. The real estate market has changed drastically in the past year. For 3 years prior there weren't enough homes on the market for all the people looking to buy, downsize, upgrade, buy rental property etc....

NOW, there are plenty of homes on the market and the same number of buyers. Things are taking longer to sell but they are selling and regardless of what the news and common people thing PRICES are not dropping. In fact because people are waiting and the interest rates are rising they are losing more buying power then if they had purchased so it's not the prices that are dropping it's the amount of money they can borrow won't allow them to get the house they could have gotten a year ago.

firehawk1120 · 07-21-2006, 09:16 PM

Bill,

I spoke to my attorney and as far as he knows there is no such law. There is a real estate transfer fee but that is based on the sale price of the home a 350,000 home for example pays approx 5,600 in taxes. If someone lives in PA and owns a home in NJ the state holds a % of the sale until they report the sale and get taxed on it but no where near 12% more like 2 maybe. The only other fee would be a Millionaire tax for homes over 1,000,000.

i don't know who told you about this out of state tax BS, but it's just not true.

Z28 Heritage · 07-21-2006, 11:39 PM

The relocation tax does exist but as far as i understood it was 1%...

Z28 Heritage · 07-21-2006, 11:41 PM

If your a young kid or a young family that depends on a job for income GET OUT OF NJ. Do not get trapped here with real estate or anything else. And do not choose a computer career. Just a word from an old guy trying to help out the young kids and families!!!!!

qwikz28 · 07-22-2006, 12:24 AM

you know, buying investment real estate in new jersey's grimey areas to rent out for profit isnt a bad idea either. might get you out of the relocation fee and with rent as a source of income to pay off the mortgage. that would only require a down payment on the said house and the rest of your money can go towards the house in NC. that is granted you have the time and patience to deal with such a hassle. its just a thought i thought i'd throw out on the table

Fast92RS · 07-22-2006, 08:28 AM

Yes NJ does suck. I want to move to florida (no state inspection.......). But theres pro and cons to everything.

firehawk1120 · 07-23-2006, 07:18 PM

There is no RELOCATION TAX. It may be called something else, but the state does NOT tax you for leaving the state.

baddest434 · 07-23-2006, 08:54 PM

gene i have heard from more than 3 people that it was true maybe the % is exaggreated but they say its true. being into real estate i'm sure you know what your talking about because that would be such bs to have to pay to leave this state. i'm still looking into it though we were hoping on leaving soon but things have pushed us back for a while but i'll keep your number thanks

but like you say " It may be called something else" and they don't call it a TAX,but i'm sure they have their own wording to, in essence tell you your ****ed

firehawk1120 · 07-23-2006, 09:05 PM

Bill if you want I'll give you an attorney's number to call. He can tell you all the expenses you would incur if you sold your home and moved out of state. He's a great guy and wouldn't mind and I know he wouldn't charge you.