Interesting Real Estate News

 Read this before you sign up with any agent

Dear Home owner, it is a big decision for you to sell your property. Partnering with a trustworthy real estate agent is the key to the success.

Here are some questions you need to think before you sign the listing agreement:

  • An agent tells you their company only charge "3%" commission".  

    -
    But what services will you get?
    - What commission splits does he/she offer other broker?
    - Whose benefit is the priority? 
    - Does he/she keep big portion?

    http://www.foxtons.com/index.html

           As matter of fact, our NJMLS requests sellers to sign this form:

 
-
Do you get 5000+ realtors' co-broker? 
- Do you get one to one service?
- Do you talk with your listing broker every time or just some "coordinator" 40 miles away?
- When was last time he/she sold a property in your neighborhood?
 
- Does he/she have experience to price your property?
- Does he/she show your property to buyers? 
- Does he/she know how to pre-qualify the buyer?
- Does he/she negotiate all the offers for you?
- Does he/she attend "home inspec
tion"
- Does he/she meet the mortgage appraiser?
- Does he/she review the application for board, if it's co-op?
- Does he/she help you with "CCO"?
......
Avoid  being "penny wise and pound foolish". Before signing, make sure you have the right to cancel the listing agreement with "unconditional withdrawal" at anytime if you are not 100% satisfied. Make sure everything is in writing. 
  • An agent tells you they can sell at a higher price. 
    Sounds good -
    some agents will tell you whatever you want to hear in an effort to get you to sign a listing. If you would sign with the higher price listing agreement, make sure your agent add this sentence in your listing agreement "NO PRICE REDUCTION" For your protection, before signing, be sure you have the right to cancel the listing agreement with "unconditional withdrawal" at any time if you are not 100% satisfied. Make sure everything is in writing. 

As licensed real estate broker, Kaili's specialty is selling residential properties. Kaili is so confident that she can provide excellent services for you, she is willing to put in writing that you can cancel your listing at any time, for no reason. No hassle, no questions asked. With Kaili's 100% Satisfaction Guarantee, YOU are in control! 

Never sign a listing without 100% SATISFACTION GUARANTEED -- Avoid tying yourself up with a six-months listing.

 
 
Make sure those 3 terms on your listing agreement:
  • Listing Term - Listing date, expiration date;
  • Price - what is the asking price;
  • Commission rate - what is the commission rate or how much if fixed fee, and what is the commission split to potential cooperating brokers - the amount of commission split your broker offers can affect the extent to which your property is exposes to prospective buyers working with licensees from other brokerage firms.
The most important thing, before you sign, you need to make sure that you have the right to cancel the listing  agreement with "unconditional withdrawal" anytime if you are not 100% satisfied. Make sure it is in writing in listing agreement.

  

     Seller's closing cost                                     
  • Real estate transfer tax 

    According to Chapter 66, Laws of 2004, the Realty Transfer Fee on standard
    transactions and on “new construction” is calculated as follows:

    TOTAL CONSIDERATION NOT IN EXCESS OF $350,000
    $2.00/$500 of consideration not in excess of $150,000;
    $3.35/$500 of consideration in excess of $150,000 but not in excess of $200,000;
    $3.90/$500 of consideration in excess of $200,000 but not in excess of $350,000.


    TOTAL CONSIDERATION IN EXCESS OF $350,000

    $2.90/$500 of consideration not in excess of $150,000;
    $4.25/$500 of consideration in excess of $150,000 but not in excess of $200,000;
    $4.80/$500 of consideration in excess of $200,000 but not in excess of $550,000;
    $5.30/$500 of consideration in excess of $550,000 but not in excess of $850,000;
    $5.80/$500 of consideration in excess of $850,000 but not in excess of $1,000,000;
    $6.05/$500 of consideration in excess of $1,000,000.
 
All prices are per $1000
Sold Price
Less than
$350,000
$4.0 Up to $150,000
$6.7 $150,000 to $200,000
$7.8 $200,000 - $350,000
 

Sold Price
More Than
$350,000
$5.8 Up to $150,000
$8.5 $150,000 to $200,000
$9.6 $200,000 - $550,000
$10.6 $550,000 - $850,000
$11.6 $850,000 - $1,000,000
$12.1 > $1,000,000
Sold Price < $350,000 Real Estate Transfer Tax
$100,000 $400
$110,000 $440
$120,000 $480
$130,000 $520
$140,000 $560
$150,000 $600
$160,000 $667
$170,000 $734
$180,000 $801
$190,000 $868
$200,000 $935
$210,000 $1,013
$220,000 $1,091
$230,000 $1,169
$240,000 $1,247
$250,000 $1,325
$260,000 $1,403
$270,000 $1,481
$280,000 $1,559
$290,000 $1,637
$300,000 $1,715
$310,000 $1,793
$320,000 $1,871
$330,000 $1,949
$340,000 $2,027
$350,000 $2,105
Sold Price > $350,000 Real Estate Transfer Tax
($150,000) ($870)
($200,000) ($1295)
$350,000 $2735
$360,000 $2,831
$370,000 $2,927
$380,000 $3,023
$390,000 $3,119
$400,000 $3,215
$410,000 $3,311
$420,000 $3,407
$430,000 $3,503
$440,000 $3,599
$450,000 $3,695
$460,000 $3,791
$470,000 $3,887
$480,000 $3,983
$490,000 $4,079
$500,000 $4,175
$510,000 $4,271
$520,000 $4,367
$530,000 $4,463
$540,000  $4,559
$550,000 $4,655
$560,000 $4,761
$570,000 $4,867
$580,000 $4,973
$590,000 $5,079
$600,000 $5,185
$610,000 $5,291
$620,000 $5,397
$630,000 $5,503
$640,000 $5,609
$650,000 $5,715
$660,000 $5,821
$670,000 $5,927
$680,000 $6,033
$690,000 $6,139
$700,000 $6,245
$710,000 $6,351
$720,000 $6,457
$730,000 $6,563
$740,000 $6,669
$750,000 $6,775
$760,000 $6,881
$770,000 $6,987
$780,000 $7,093
$790,000 $7,199
$800,000 $7,305
$810,000 $7,411
$820,000 $7,517
$830,000 $7,623
$840,000 $7,729
$850,000 $7,835
$860,000 $7,951
$870,000 $8,067
$880,000 $8,183
$890,000 $8,299
$900,000 $8,415
$910,000 $8,531
$920,000 $8,647
$930,000 $8,763
$940,000 $8,879
$950,000 $8,998
$960,000 $9,111
$970,000 $9,227
$980,000 $9,343
$990,000 $9,459
$1,000,000 $9,575
  • Attorney's fee - subject to each individual attorney. But please make sure if it's fixed or you will be charged extra for others. 
  • Condo/Co-op transfer fee, attorney fee - subject to each individual association
  • Others

   
        Interesting Real Estate News

Condo/Co-op Buildings

      Edgewater  -  Admiral's Walk
      Edgewater  -  Crown Village
      Edgewater  -  City Place
      Edgewater  -  Hudson Harbour
      Edgewater  -  Hill Gardens
      Edgewater  -  Hudson Cove
      Edgewater  -  Independence Harbor
      Edgewater  -  Patriot
      Edgewater  -  Riverview on the Park
      Edgewater  -  Shelter Bay
      Edgewater  -  The Promenade
      Edgewater  -  1111 & Waterside
       and MORE in Edgewater, NJ 07010
      Fort Lee  -  The Palisades
      Fort Lee  -  Atrium Palace
      Fort Lee  -  Biarritz
      Fort Lee  -  Buckingham Tower
      Fort Lee  -  Cedar Court
      Fort Lee  -  Crosley Terrace
      Fort Lee  -  River Ridge
      Fort Lee  -  The Charlton
      Fort Lee  -  The Royal Buckingham
      Fort Lee  -  Park Hill Terrace
      Fort Lee  -  Washington West
      Fort Lee  -  Westgate
      Fort Lee  -  Easthill
      and MORE in Fort Lee, NJ 07024
      Cliffside Park  -  The Chateau
      Cliffside Park  -  Cliff Heights
      Cliffside Park  -  Carlyle Towers
      Cliffside Park  -  Greenhouse
      Cliffside Park  -  200 Winston Towers
      Cliffside Park  -  300 Winston Towers
      Cliffside Park  -  Briarcliff
      and MORE in Cliffside Park, NJ 07010

Rental Listings:

House Listings:

 Condo/Townhouse Listings:

Co-op Listings:

 Buyer and Seller to Know:

 

 

 

 

 

 


realtor kaili for your real estate in New Jersey

 Direct: (201) 585-1234   ||   Office: (201) 816-8889  ||   Kaili@RealtorKaili.com (best way to reach Kaili)

Licensed Real Estate Broker-Associate with Re/Max Fortune Properties  |  474 Sylvan Avenue (9W)  |  Englewood Cliffs  |  NJ 07632  |
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