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Video instructions and help with filling out and completing nj real estate contract addendum
Let's start off put the cover page of the new statewide contract the opinion 26 notice you will see at the bottom of the opinion 26 notice we have added in a signature place for the listing broker we did this because all too often there were separate provisions that separated you know pinion 26 notices if you will that were being provided by each of the agents the lifting the agent and the South and the selling agent aka the buyer's agent and so we decided let's put a signature line right there for the listing broker who we also enter prepared by so that it was very clear who had prepared the opinion 26 notices and as you all know the subpoena 26 notice is mandated by the New Jersey Supreme Court so that you can prepare the contract the sale and it will not be deemed to be the unauthorized practice of law a lot of that we included prepared by because in paragraph one you remember that it says as a real estate broker I represent and then you check off the seller not the buyer the buyer not the seller etc so we wanted to make it clear who actually had prepared the opinion 26 notice one thing that people say to me is Barry it's a selling broker can't we change that buyer's agent to make it a little bit clearer so there's less confusion and I'm sympathetic to that but I did not want to change the language that was provided by the New Jersey Supreme Court that's their phrase selling broker so we kept it the way it is but selling broker is the the buyer's agent that's why when you see listing broker next to it almost by contrast you can tell that selling broker has to be the buyer's agent in the situation one question I've gotten a couple of times now does the broker actually have to sign it or can the agent sign practice customer practice has already been you know is in place that the agents who signs who prepares the offer typically and so I say the agent can continue to sign it does not have to be the broker that actually signs it once again those are words that the Supreme Court you know including but I don't think it would differentiate between broker and salesperson when they included the word broker I think that it's okay for the salesperson to sign you know before I go any further let me just want thinking of it in addition to the sales contract we also revised the short sale addendum and we also revised the new construction writer to the contract to conform to changes that we're about to discuss so you may want to take a look at those it's really beyond the scope of what I'm going to go through today but I just want the tool work ship to that okay let's.