Timeline For New Jersey Realtors Standard Form Of Real Estate Sales Contract printable pdf download

Timeline For New Jersey Realtors Standard Form Of Real Estate Sales Contract

TIMELINE FOR NEW JERSEY REALTORS

STANDARD

FORM OF REAL ESTATE SALES CONTRACT

DATES

ATTORNEY REVIEW

________________ Fully executed Contract delivered to Buyer and Seller starting the

attorney-review period. Section 37

________________ Three-day attorney review ends or, if Contract is timely disapproved by

attorney, then date parties agree to the terms of Contract (referred to in this

timeline as “after Contract is finalized”). Section 37

DEPOSITS

________________ Initial deposit to be paid by Buyer. Section 3(A)

________________ Additional deposit to be paid by Buyer. Section 3(B)

CONDOMINIUM/HOMEOWNER’S ASSOCIATIONS

________________ Before Contract is signed, Seller must provide Buyer with applicable

condominium/homeowner’s association documents. Section 11(A)

______________

If condominium/homeowner’s association has a right of first refusal,

Seller must provide Buyer with written waiver from association within 10

business days after Contract is finalized. Section 11(C)

LEASES

_______________

Seller must provide Buyers and Brokers with a copy of all leases for Property

when Contract is signed by Seller. Section 14

LEAD-BASED PAINT

________________ If dwelling built prior to 1978, Seller must provide EPA pamphlet before

Contract is signed and Buyer must acknowledge receipt of pamphlet, and

EPA Disclosure must be signed by Buyer, Seller and Brokers. Section 16(A)

T his timeline is not intended to create any duty on the part of the broker, salesperson or any other party to deal with

any of the issues set forth in the timeline. It is understood that most of the items set forth in this timeline are the

responsibility of the attorneys for Buyer and Seller, if any, the title company and the lender, as well as Buyer and Seller.

This timeline is for informational purposes only.

R eferences to Sections are to the applicable Sections in the Contract.

New Jersey REALTORS

Timeline 9/15

Timeline For New Jersey Realtors Standard Form Of Real Estate Sales Contract