A deed is a legal document prepared by a lawyer, which when signed by the sellers, conveys title to the property to the buyer. The deed, along with other incidental paperwork, then gets recorded with the County Clerk. The most common types of deeds are the "Bargain and Sale" deed, and the "Quit-Claim" deed (often mispronounced as "quick claim"). In some states, the Bargain and Sale deed is referred to as a warranty deed, or a special warranty deed. Whatever the name, it is the deed used in a typical real estate sale because the seller makes certain representations to the buyers, such as there being no other persons with a legal interest in the property, and there being no liens on the property. The Quit-Claim deed makes no such representations, and is sometimes referred to as "a dollar deed" because it is used in family or divorce transactions where the consideration is stated as being one dollar. My cost to prepare a deed is $200.00. The typical cost to record a deed with the County Clerk is eighty or ninety dollars depending on the number of pages. The seller also has to pay a realty transfer fee or tax which is based on a sliding scale. For example, the fee on a $350,000 sale is approximately $2,105, and $1,325 on a $250,000 sale. If you are 62 years of age or older and it is your primary residence, the fee on $250,000 sale goes down to $400.  
Disclaimer: Although I am an attorney licensed to practice law in the State of New Jersey, the information on this website is for general information purposes only and is not to be construed as legal advice. Every situation is different and there are many exceptions for every legal principal or rule. You must consult with an attorney licensed to practice law in your jurisdiction for help and advice. If you reside in the State of New Jersey, I can provide you with legal advice, however, it needs to be done in person, by telephone, or by video conferencing.Gary F. Woodend & Associates
5 N. Main St., Ste C
Medford, NJ 08055
Toll Free: 888-336-8417
Telephone: 609-654-5489
Fax: 609-654-5703
Map and Directions Gary F. Woodend & Associates serves clients in Medford, Medford Lakes, Marlton, Southampton, Tabernacle, Shamong and Mount Laurel, New Jersey, as well as other communities in Burlington County, Camden County and Ocean County, NJ, and nationwide. Printer Friendly View
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