Iiibmaniii, Other/Just Looking in Blairstown, NJ

njar form 118 page 2

Asked by Iiibmaniii, Blairstown, NJ Tue Jul 6, 2010

in section D balance of purchase price, my realtor put 4000$....im supposed to get 4000$ towards closing costs from the seller, is this the proper place for this number? doesnt seem right to me

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9
John Sacktig, Agent, New Jersey, NJ
Tue Jul 6, 2010
"You can write anything anywhere in the contract, on addendums, etc. and as long as everyone agrees to it then it definitely can be valid."

Sorry Mike that is as looney a response as I have ever seen. Did you write that contract for this guy?
Where that person is supposed to be writing it would not make sense for a sellers concession.

This is exactly the reason that people from other states should stay in their areas when these questions come up.. too many "agents" answer questions just for the sake of scoring points on Trulia, and we get nonsensical answers like this.

Sorry Liibmanii.
3 votes
John Sacktig, Agent, New Jersey, NJ
Tue Jul 6, 2010
Yeah, I think so too.. ( new )

See the part I was indicating.. the "other provisions" tell her to write it in there and submit it.. the numbers should be:

1: offer price
2: Initial deposit
3: After attorney review deposit
4: mortgage
5 All should total to the same offer number

Then on line 325 write in the sellers concession for closing costs $4,0000.


Good Luck !
2 votes
John Sacktig, Agent, New Jersey, NJ
Tue Jul 6, 2010
O.k.. then read the document... I know the for you are looking at.. and that portion of the form is not at all for a sellers concession.. is this the form? http://www.betterhomesnj.com/pdf/contract.pdf

Does it make sense this is a pretty simple form.. it reads what it is, and there is no where there for a sellers concession... it is .

Either way, your attorney should be able to make sure your sellers concession is in the correct place.
2 votes
John Sacktig, Agent, New Jersey, NJ
Tue Jul 6, 2010
The location you are writing about does not make sense for a sellers concession for closing costs..

On that particular document, ( although I do not use that one) it should be written in at line 325, "other contractual provisions" as a $4,000 sellers concession for closing costs.
1 vote
Paul Davidson, Home Buyer, New York, NY
Sun Mar 29, 2015
Just in case anyone need to fill out a NJAR form 118, I found a blank form in this link http://pdf.ac/6LCx7. This site PDFfiller also has several related forms that you might find useful.
0 votes
Mike Satterl…, Agent, Kirkland, WA
Tue Jul 6, 2010
Hi John,

I agree w/your assesment - I don't know the form you are speaking of & going off script so to speak is always dangerous for us agents. But I stand by my statement. You and I both know that you can write a real estate contract on a napkin as long as it contains the proper elements for a valid real estate contract. This is all that I was attempting to convey in the first part of my statement. Perhaps not helpful information for this situation.

In the second part of my statement I essentially said the same thing you are saying, i.e. stick to the forms and fill them out correctly and you're more likely to stay out of trouble. Which I think is applicable regardless of what state you are in.
Web Reference:  http://www.ezdigs.com
0 votes
Iiibmaniii, , Blairstown, NJ
Tue Jul 6, 2010
yes that is the form john...im guessing she is new because i even pointed it out to her and she said it was correct...
0 votes
Mike Satterl…, Agent, Kirkland, WA
Tue Jul 6, 2010
I'm not familiar w/your forms however if it's written properly and properly acknowledged and tied to the contract then it certainly can be valid. You can write anything anywhere in the contract, on addendums, etc. and as long as everyone agrees to it then it definately can be valid.

That said - it's never a good ide to go beyond simply filling in the proper blanks of the pre-printed mls real estate forms for a variety of reasons - one is interpretation, i.e. if you have questions about it then the sellers may too. What if their understanding is different than yours?
Web Reference:  http://www.ezdigs.com
0 votes
Iiibmaniii, , Blairstown, NJ
Tue Jul 6, 2010
what does it mean when theres a number there? she is under the impression its for sellers concession and just from reading it i know thats incorrect...what am i in for here?
0 votes
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