Green card in New Jersey

3 Replies

I am buying a 3 family in Newark-bank-owned , fixer upper . 

With the closing scheduled for this week, the wholesaler tells me there is no green card that my lawyer is asking for. Can I go ahead with the purchase, if I am prepared to spend on the related expenses, as I will be fixing up the place anyway? Is there any other liability involved? 

This is the first time I am buying a 3-family and have no knowledge about green cards . Please advise . 

Thank you guys ! 

 Are you sure that it's a legal 3 family? Call the town and ask if there are any violations open and ask how it is zoned. There's no requirement in NJ that you get one upon a sale, so liability would be if there were a ton of violations between the last time the place was inspected and when you take title, you'll inherit all the issues and costs involved. If that's ok with you, I would just make sure it's zoned legally.

973-247-9000

@Jessica Zolotorofe Thank you  for your response. I found from the town that it is a legal 3-family and has no violations. Hoping to close next week God-willing .

Free eBook from BiggerPockets!

Ultimate Beginner's Guide Book Cover

Join BiggerPockets and get The Ultimate Beginner's Guide to Real Estate Investing for FREE - read by more than 100,000 people - AND get exclusive real estate investing tips, tricks and techniques delivered straight to your inbox twice weekly!

  • Actionable advice for getting started,
  • Discover the 10 Most Lucrative Real Estate Niches,
  • Learn how to get started with or without money,
  • Explore Real-Life Strategies for Building Wealth,
  • And a LOT more.

Lock We hate spam just as much as you

Join the Largest Real Estate Investing Community

Basic membership is free, forever.