Recent Home Sale Prices

The first question everyone asks is, "how much did that place sell for?" When we do our initial in-house walkthrough meeting, I will present you with a detailed report on comparable home sales in the area. This is just one of the many tools we will use to determine the most advantageous price for your home.

Virtual Tour

To allow buyers to get a better sense of your home and encourage them to view it in person, I can prepare a virtual tour. A series of photographs are digitally stitched together to create a seamless 360 degree panorama of the main rooms. Buyers can move in any direction and zoom to take in details. For buyers who might otherwise hesitate, the virtual tour is an invaluable tool to convince them to see your home in person.

Understanding Agency Relationships

When we meet for the first time, I will give you a short pamphlet that explains in more detail the various legal aspects of a home sale that are required by law. In essence, there are four basic types of agency relationships as defined by the NJ Board of Realtors:

• Seller’s Agent: As a seller's agent, I, as a licensee, represent the seller and all material information supplied to me by the buyer will be told to the seller.
  
  
• Buyer’s Agent: As a buyer's agent, I, as a licensee, represent the buyer and all material information supplied to me by the seller will be told to the buyer.
  
  
• Dual Agent: As a disclosed dual agent, I, as a licensee, represent both parties, however, I may not, without express permission, disclose that the seller will accept a price less than the listing price or that the buyer will pay a price greater than the offered price.
  
  
• Transaction Broker: As a transaction broker, I, as a licensee, do not represent either the buyer or the seller. All information I acquire from one party may be told to the other party.

Closing Costs

As a seller, your major closing costs will result from a real estate commission (you'll have to pay your dear broker!), legal fees (see below) and a realty transfer fee (see below).

We will establish a commission amount at the outset and I will be able to give you a thorough estimate of the fixed costs associated with your sale. For other costs, I recommend consulting with your attorney.

Fees

The state requires that you pay them a realty transfer fee according to a fixed formula:*

Standard Rates

• $1.75 per $500 up to $150,000
• $2.50 per $500 over $150,000

• $0.75 per $500 up to $150,000
• $2.50 per $500 over $150,000

• $0.50 per $500 up to $150,000
• $1.25 per $500 over $150,000

Choosing an Attorney

Generally speaking, it's a good idea to choose a local attorney who is familiar with the area. A seasoned local attorney may be aware of past history with the buyer or outstanding issues on your property that you might not even be aware of. At the very least, make sure to use a New Jersey-based attorney as real estate law varies widely from state to state.

For budgeting purposes, plan to spend $850 and up on an attorney.