Home seller questions, answered

A comparative market analysis: recent closed sales of genuinely similar nearby homes, adjusted for condition, size, lot, updates and location, tested against what is currently competing with you and what is failing to sell. You see the comparables and the reasoning. It is an informed professional opinion — not an automated estimate, and not an appraisal.

Automated estimates work from public records and past sales. They cannot see that you replaced the roof, that the kitchen is original, that the house backs onto a road, or that the neighbouring property is derelict. They are a starting point for curiosity, not a basis for pricing a sale.

It is your house and your decision, and Karen will say so plainly. She will also show you what typically happens: the first two weeks — when a listing gets more attention than in the following three months combined — are spent proving the price is wrong, and the reduction comes anyway, from a weaker position, often to a lower final number than the correct launch price would have produced. If you still want to try, she will agree a date at which you both review the evidence.

Somewhat, and less than people think. Spring generally brings more buyers and more competing listings. Winter brings fewer buyers, but the ones out looking are usually serious. Price and condition matter far more than the month.

Typically: negotiated brokerage compensation, your attorney, the New Jersey realty transfer fee, municipal smoke and carbon monoxide certification and any certificate of occupancy your town requires, payoff and recording costs, and any credits negotiated with the buyer. Karen gives you a written net-proceeds estimate before you list, so the number is not a surprise.

Yes. Brokerage compensation is always negotiable and is never set by law, by any association, or by a franchise. It is agreed in writing in your listing agreement. Be sceptical of anyone who implies there is a standard rate — there is not.

A New Jersey state fee paid by the seller at closing, calculated on the sale price, with reduced rates available in certain cases including for qualifying senior citizens. Your attorney calculates the exact figure. The current schedule is published by the Division of Taxation.

NJ realty transfer fee →

Many sellers of a primary residence qualify for a federal exclusion of gain, and long-term owners of modest homes frequently owe nothing — but it depends on your ownership and use history, filing status and basis. New Jersey has additional requirements, particularly for sellers relocating out of state. Ask your accountant before you list.

Nobody can promise you a date, and be wary of anyone who does. Once you have an accepted contract, expect roughly 45 to 75 days to closing with a financed buyer. The marketing period before that depends on price, condition, property type and season — and price is the part you control.

Yes, ideally. Buyers do not speak freely, linger, or picture themselves living somewhere while the owner is present. Take the dog. It is inconvenient and it genuinely matters.

New Jersey sellers must disclose known material defects, and most transactions use a seller property condition disclosure statement. Concealing a known defect creates real liability. Disclosing early is also the stronger negotiating position — a problem the buyer’s inspector finds at week six costs far more than one disclosed at week zero.

Of course — the great majority of sellers do. The loan is paid off from the proceeds at closing and your attorney handles the payoff. If you owe more than the house is worth, that is a short sale, which is a different and slower process. Karen has handled those since the years after 2008, so raise it early rather than hoping.

No. Consider the financing type and whether the buyer can actually perform, the deposit size, the contingencies, the closing date, and whether the price will survive an appraisal. A cash offer slightly below asking is frequently better than a high offer from a marginally qualified buyer that collapses in week five — by which time your listing looks stale.

Attorney review for three business days, then the buyer’s inspections, then their appraisal and mortgage commitment. Meanwhile you arrange municipal certificates and your payoff. Then the final walkthrough and closing.

It is negotiable, not automatically fatal. Options include renegotiating the price, the buyer bringing additional cash, splitting the difference, or challenging the appraisal with better comparables — which is easier when your agent assembled proper comparables in the first place.

Within the terms of their inspection contingency, generally yes. That is what the contingency is for. Most inspection issues end in a negotiation over repairs or a credit rather than a collapsed deal — particularly when the seller disclosed honestly up front.