Legal Information

Effective Date: October 10th, 2024

Welcome to Testament Realty. This legal page provides important information about Testament Realty’s role as a real estate agent and broker firm. By using our services, you acknowledge and agree to the following terms and conditions that govern our practices.

1. Company Overview

Testament Realty operates as both a real estate agent and a broker firm, offering comprehensive real estate services, including property listings, buyer and seller representation, property management, and other related services. Testament Realty is fully licensed to operate as a broker firm in New Jersey and New York, adhering to all state and federal regulations governing real estate transactions.

2. Agent and Broker Responsibilities

As a licensed broker firm, Testament Realty is responsible for overseeing the activities of our real estate agents, ensuring that all transactions are conducted in compliance with industry regulations and ethical standards. Our agents are licensed professionals who act under the supervision of Testament Realty, providing personalized real estate services to buyers, sellers, landlords, and tenants.

Our agents and brokers are committed to:

  • Acting in the best interests of our clients at all times, adhering to fiduciary duties such as loyalty, confidentiality, and full disclosure.

  • Providing accurate and up-to-date information regarding property listings, market conditions, and legal requirements related to real estate transactions.

  • Ensuring all paperwork and documentation associated with transactions are handled correctly and in compliance with state and federal laws.

3. Disclosure of Representation

Testament Realty and its agents are obligated to disclose their representation status in all transactions. This means that when working with a buyer, seller, landlord, or tenant, Testament Realty will clearly identify whether it is acting as:

  • A Seller's Agent: Representing the seller’s interests in the transaction, including marketing and negotiating on behalf of the seller.

  • A Buyer’s Agent: Representing the buyer’s interests, assisting with property searches, showings, and negotiations.

  • A Dual Agent: In certain circumstances, Testament Realty may represent both the buyer and the seller in a transaction. In such cases, full disclosure will be provided, and both parties must consent in writing.

4. Compliance and Regulatory Standards

Testament Realty operates in strict compliance with the New Jersey Real Estate Commission and other relevant regulatory bodies. We follow all state and federal laws, including fair housing regulations, anti-discrimination laws, and other real estate statutes. Our agents and brokers receive ongoing training to stay updated on legal requirements, ensuring that all transactions are conducted lawfully and ethically.

5. Limitation of Liability

While Testament Realty and its agents work diligently to provide accurate information and professional service, we cannot guarantee the outcome of any transaction. Real estate markets are subject to change, and property values, availability, and other factors may fluctuate. Testament Realty is not liable for any losses or damages that may arise from your use of our services, including but not limited to financial loss, property value changes, or unforeseen issues with transactions.

6. Brokerage Fees and Commission

Testament Realty charges brokerage fees and commissions as outlined in our agreements with clients. These fees are typically a percentage of the sale price or a fixed amount, depending on the nature of the transaction. All fees and commissions will be clearly stated and agreed upon before the start of any service. Testament Realty reserves the right to modify fees or commissions in accordance with market conditions and industry practices, but any changes will be communicated to clients in advance.

7. Privacy and Confidentiality

As a real estate agent and broker firm, Testament Realty is committed to protecting the privacy and confidentiality of our clients. All personal information collected during the course of providing services is securely stored and handled in accordance with our Privacy Policy. We do not share or disclose client information without consent, except as required by law or for the purposes of completing real estate transactions.

8. Dispute Resolution

In the event of a dispute arising from services provided by Testament Realty or its agents, we encourage resolution through negotiation and mediation whenever possible. If a dispute cannot be resolved amicably, it may be subject to arbitration or legal proceedings in accordance with the laws of the state of New Jersey.

9. Contact Information

For more information about Testament Realty’s legal policies or to address any concerns, please contact us:

  • Address: 298 Broad Street, Red Bank, NJ 07701

  • Email: helpdesk@testamentrealty.com

  • Phone: +1 (732) 977-3215

By using our services, you acknowledge that you have read, understood, and agreed to the terms outlined in this legal information page.