Princeton, NJ

Summer is almost here and, from what we hear about the economy, families are planning to stick close to home and enjoy some of the local forms of entertainment. One that should be put on your To Do List is the Summer Courtyard Concert Series. It will take place every Thursday evening from 6-8 pm beginning June 18 and ending August 27. All of the concerts are free and will take place in the newly renovated Princeton Shopping Center Courtyard. Attendants should bring lawn chairs for comfortable viewing. Audiences will be delighted each Thursday evening with music from Rock to Klezmer. The series will kick off with Animus and will conclude with Sarah Donner's indie music showcase. For a performance schedule and descriptions of the musical acts please visit www.artscouncilofprinceton.org or pick-up a program schedule at the Paul Robeson Center for the Arts. The Princeton Shopping Center is located at 301 North Harrison Street in Princeton Township.

There seems to be a growth in the House Sitter profession in light of the length of time it takes to sell property these days. The media is circulating stories about squatters and/or homeless people setting up residence in vacant houses as well as vacant Staged homes being burglarized.

House sitting is an interesting and troublesome concept from the Real Estate Agent's perspective because (1) at what point should an Agent bring up the subject of using a House Sitter; (2) how should an Agent or homeowner go about finding a reputable House Sitter; (3) what will the Agent's liability be in participating in the selection of a House Sitter; and (4) who should prepare the House Sitting agreement?

GLORIA LAUGHTON ALLSTON, REALTOR, GREEN, SRES

That was Easy!

Without too much issues the attorney review process worked out okay. Nothing too major, an additional parcel of land is now included in the sale of the house... GREAT to help it Appraise later, The Lot size is now DOUBLE!!! Can't make anymore land so that was an important win for us. The transfer of title will also include a personal property item... which includes an additional parcel of land.

I love this business...

Well I have completed the 3 days of training and passage of the 2 exams required to have the National Association of Realtors (NAR) give me the "green light" to call myself a "GREEN" Realtor. Now I am anxiously awaiting the NAR Green Designation Member Kit which should arrive in 3-4 weeks. The Green REsource Council of NAR provides oversight re this designation as well as provides the tools to help the "GREEN" team become suitable ambassadors of the movement toward sustainable homes and communities. Next steps - contribute to a better quality of life for future generations.

Today I am writing a very difficult contract on a Princeton Property. Boy I love this work, running back and forth to the township office, Zoning, Planning, Assessors office and the Tax office... get more details at www.JerelWashington.com.

3/31/09 - The Offer was accepted! Hurray... now we just need to get it to closing. Wish us LUCK!

Next is Attorney Review: What's that? Well in New Jersey... (Right from the License Book - Chapter 9 Contracts (Principles and Practices of New Jersey Real Estate by Frank W. Kovats, DREI)

ATTORNEY REVIEW has to do with Preparing Contracts. Real estate agetns are recognized tohave limited authority in the preparation of contracts and in the rendering of advice relative to their area of expertise. Any person who engages in the practice of law (as it's defined in New Jersey) without a license is a "disorderly person" according to state law. The Supreme Court of New Jersey has exlusive jurisdiction over the practice of law in our state.

The NJ Bar Association v. NJ Association of Realtors, the court granted a consent judgement confirming an agreement between the parties, providing that real estate brokers would be permitted to fill in the blank spaces in approved standard contract forms for the following types of residential sales and lease agreements:

1. Contracts for the sale of one- to four-family dwellings and vacant one-family lots involving transactions in which the broker has a fee or commission interest.
2. Leases for residential dwellings wieth a term of one year or more in which the broker has a fee or commission interest.

All residential sales contracts and residential leases prepared by real estate licensees must contain, at the top ofthe first page the following language:

THIS IS A LEGALLY BINDING CONTRACT THAT WILL BECOME FINAL WITHIN THREE BUSINESS DAYS. DURING THIS PERIOD YOU MAY CHOOSE TO CONSULT AN ATTORNEY WHO CAN REVIEW AND CANCEL THE CONTRACT. SEE SECTION ON ATTORNEY REVIEW FOR DETAILS.

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Notice it says "YOU MAY CHOOSE" which means it is not mandatory. For the purpose of my blog, let me just say this... if a standard state contract was REQUIRED TO BE USED there would be NO NEED FOR ATTORNEY'S IN RESIDENTIAL REAL ESTATE. Attorneys may argue differently (of course they will argue), but that is my opinion due to the following: I've been told that in residential real estate only 3 states even have this type of "Clause".

In my opinion... KEEP ATTORNEYS OUT OF RESIDENTIAL REAL ESTATE! USE STANDARD STATE CONTRACTS ONLY AND PRACTICE FULL DISCLOSURE!