Sellers Info
Seller’s Agent
A seller’s agent WORKS ONLY FOR THE SELLER and has legal obligations, called fiduciary duties, to the seller.
These include reasonable care, undivided loyalty, confidentiality and full disclosure. Seller’s agents often work with buyers, but do not represent the buyers.
However, in working with buyers a seller’s agent must act honestly. In dealing with both parties, a seller’s agent may not make any misrepresentations to either party on matters material to the transaction, such as the buyer’s financial ability to pay, and must disclose defects of a material nature affecting the physical condition of the property which a reasonable inspection by the licensee would disclose.
Seller’s agents include all persons licensed with the brokerage firm which has been authorized through a listing agreement to work as the seller’s agent. In addition, other brokerage firms may accept an offer to work with the listing broker’s firm as the seller’s agents.
In such cases, those firms and all persons licensed with such firms, are called “sub-agents.“ Sellers who do not desire to have their property marketed through subagents should so inform the seller’s agent.
These are some basic suggestions for improving the marketability of your home:
- Paint hallways and rooms where necessary.
- Repair settling cracks and water marks.
- Repair loose wallpaper.
- Patch walls and ceiling cracks, then repaint or wallpaper, using neutral colors.
- Have carpets and drapes professionally cleaned.
- Wash and wax floors.
- Clean windows.
- Clean or replace curtains.
- Clean kitchen closet and cabinets.
- Clean range/oven, refrigerator and other appliances.
- Clean hallway, bedroom and closets.
- Leave shades up and allow light in the room.
- Remove clutter from the basement and garage.
- Clean floors and degrease spots and dust.
- Check all faucets for worn washers and pipes for leaks; repair where necessary.
- Exterior paint: touch-up minor areas, repaint/paint shutters and front door.
- Chimney: repair loose bricks, clean flue, repair chimney cap.
- Make sure doors and windows open and close easily.
- Replace cracked or scratched glass.
- Check the sidewalks and driveway to make sure they’re free of clutter.
- Clear the decks, patios and steps, removing unnecessary furniture and toys.
- If appliances will stay, make sure they are in good working condition.
- Keep lawn mowed, leaves raked, driveway and sidewalks clear.
- Check front door bell, light fixtures and mailbox.
- Replace welcome mat.
- Make sure house number is visible.
- Remove stored items around house, pool and garage.
- Check all windows, screens and storm doors; repair or replace broken items.
Estimate Closing Cost :
| LEGAL FEE Generally $750 and up, depending on the attorney and the transaction. |
$_________ |
| REAL ESTATE COMMISSION Depends on the terms of the listing agreement |
$_________ |
| REALTY TRANSFER TAX Rate fixed to sale price of house.Consult your attorney for possible exemptions. NJ: About $3.50/$1000 of sale price. |
$_________ |
| MORTGAGE CANCELLATION FEE Usually required if mortgage is prepaid before original term is reached. May be charged by lender and/or local government |
$_________ |
| OTHER LIENS
Must be removed from property before closing: includes local government filing fees. |
$_________ |
| TAX ADJUSTMENT Usually a credit (sometimes a charge) to seller, to adjust for taxes paid short of or beyond the closing date. |
$_________ |
| WATER/SEWER ADJUSTMENTS Same as other tax adjustments. |
$_________ |
| Other expenses required of seller. | |
| INSECT DAMAGE REPAIRS As may be required following inspection. |
$_________ |
| ENGINEERING REPAIRS As may be required following inspection. |
$_________ |
|
ESTIMATED TOTAL |
$_________ |
| Courtesy of Friedberg Properties | |
