Q: Do we have to disclose on sellers disclosure the plans for land across the street in NJ?
The property across the street which is zoned residential commercial just had plans approved through zoning board that they can pursue building a small 5 store strip. We have decided to sell our home across the street before the proposed plans are into affect. They may just sell this plan with approvals to a new buyer. But we dont want to be here through construction and then try to sell. So we have gotten comps and we are in the process of that decision now. Our main concern is if we are legally obligated to disclose the site plans for across the street which is public knowledge. We do not want to have a legal issue if we dont mention this to potential buyers but on the other hand wonder if it is our obligation to disclose.
A: You really should have an in person consultation with a Real Estate attorney to make that determination. Good luck.
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