NJ REALTORS` new standard nationwide real estate purchase ® agreement (Form 118) was released last October. Valuable feedback on the form was received and some revisions were made to it. These are not major revisions. NOTE: The new forms are now online via zipForm Plus. The New Jersey Residential Real Estate Purchase and Sale Agreement is a document completed by a person who wishes to make an offer to purchase real estate. On the form, the buyer indicates the dollar amount he offers for the property, as well as any deposit he is willing to make. In addition, the person must indicate how they will pay if their offer is accepted. Once the seller has received the contract form, they can choose to accept, negotiate, or reject the buyer`s offer. If the seller accepts the contract, both parties must sign the document as stated so that the sale can be concluded. We strive to provide the best programs and services to our members. At the 2015 Annual Meeting of the National Association of Realtors®, NAR management announced an exciting new partnership with zipForm, a REALTOR-owned® company, to offer its forms platform as a free benefit to NAR`s 1.1 million members.
Please note – Due to the size, the form package has been separated below: A new form has been added to the New Jersey REALTORS® forms library: Form 141, Purchase Agreement for Vacant Single-Family Residential Properties. Seller`s Ownership Disclosure Statement (§ 46:3C-10) – This form is required because of the Seller`s “responsibility to disclose conditions that may significantly affect the value of the residential property”. There`s a new addendum to the New Jersey Realtor® Independent Contractor Agreement, Form #134, regarding teams. This addendum is available in our forms library as a member benefit if your brokerage team allows it. This is not a mandatory form. We strongly recommend that you watch the videos and sample forms to familiarize yourself with them. Visit www.njrealtor.com/login/?rd=5&passedURL=/forms-update to watch the videos (NJ REALTORS® login required) New Jersey REALTORS® provides Form #117 as a member benefit. This is not a mandatory form, but it is an easy way to comply with the 2019 Code of Ethics, Standard of Practice 1-7, which requires that a listing broker, upon written request from a cooperating broker who has made an offer, “must provide the cooperating broker with written confirmation that the offer has been submitted to the seller/owner, or a written notice, that the seller / owner has waived the obligation, the offer can be presented. You are free to choose the form or manner in which you provide such written confirmation or notification, by e.B. by e-mail, SMS or otherwise.
While New Jersey law does not require home sellers to share information about the property with potential buyers, the state court enforces the common law requirement that buyers be informed of known defects in the property. Therefore, it is in the best interest of the Seller to inform the Buyer of material defects in order to avoid any adverse legal action. (Fordham Environmental Law Review) The same way you logged into forms is how you will continue to do so. Log in to your account under www.njrealtor.com and click on the “Online Forms” button on our homepage, then select zipForm Plus. zipForm Plus is now the only online forms platform offered by NJ REALTORS® and is available to all members at no additional cost. Simplicity of form has been used since the 31st century. December 2015 is no longer available as a benefit to members. If you paid separately for Form Simplicity, it`s available for the rest of your upgrade period. zipForm Plus works on Windows/Mac and most modern browsers, including Edge (Windows 10), Chrome, Firefox, Safari and Internet Explorer (IE9+).
It works out of the box without the need for additional plugins or software (no Adobe Reader plugin required). pdf NJ REALTOR Standard Real Estate Purchase Agreement Form Form 118 Lead Paint Disclosure – If a house was built before 1978, the buyer must provide the buyer with a disclosure indicating the possible use of lead-containing paint in the residence. The law requires a licensee to provide the owner with a copy of a summary of New Jersey`s N.J.S.A. Discrimination Act at the time of listing a list of real estate. . . .