Get Form 118 - Modifiable Draft - New Jersey Realtors

Filling out the Form 118 - Modifiable Draft is a crucial step in the real estate transaction process in New Jersey. This guide provides detailed, user-friendly instructions for completing the form online, ensuring that users, regardless of their legal experience, can navigate the process with confidence.

Follow the steps to complete the Form 118 effectively.

1. Click the ‘Get Form’ button to obtain the form and open it in the editor.
2. Review the introductory section, which outlines the key parties involved in the transaction—namely the buyer, seller, and brokers. Carefully input the names and contact information for each party in the designated fields.
3. In the 'Property Description' section, enter the complete address of the property being sold, including municipal details such as the county name and lot/block information.
4. Proceed to fill out the 'Purchase Price' details, ensuring to include total purchase price, initial deposit, additional deposit, mortgage details, and balance of purchase price accurately.
5. In the ‘Manner of Payment’ section, specify how the deposits will be paid and identify the escrow holder. Indicate the due dates for the initial and additional deposits.
6. Complete the ‘Buyer’s Property Sale Contingency’ if applicable. Indicate whether the purchase depends on the sale of an existing property, and include necessary details and timelines.
7. Review all sections of the form, including contingency clauses for inspections, lead-based paint disclosures, and well testing requirements if applicable to the property in question.
8. Ensure all fields are accurately filled out and review for any required signatures, initials, and dates from involved parties.
9. Once the form is completely filled out, you can save changes, download the document, print it, or share it as needed.

Get started on filling out your Form 118 online today and smooth your real estate transactions.