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1. The decision to buy |
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While you make decision,
Think about why to buy, where to buy,
when to
buy and how to buy.
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2. The mortgage pre-approval |
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It is highly recommended that
buyers be "Pre-Approved" before the home search process. It shows that you
have the ability to purchase a home that you will preview.
You can
call 1-888-531-9114 to get a free pre-approval letter 7 days a week.
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3. Preview homes for sale |
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I can provide detailed
information on almost any property currently listed for sale.
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4.
Make an offer |
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When you find a home that
meets your needs and are ready to make an offer. I will carefully prepare
a purchase contract. You sign the contract and write a check, usually
$1,000 as earnest money at this time. I will present to the owner and /or
owner's representative. The owner, in turn, may accept, reject, or make a
counter-offer. |
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5. Attorney Review |
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Although not mandatory in New
jersey, it is highly suggested to hire an attorney for the closing of real
estate. The standard attorney review in New Jersey is three business days,
but can be extended. During the three-day attorney review, either party
can cancel the contract. |
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6. Home inspection |
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In New Jersey, buyers are
responsible for hiring and paying for a home inspector. The home
inspection should be ordered within 10 days of the contract being signed.
Such inspections often require two or three hours, and buyers should
attend. Any home inspection issues should be addressed immediately after
inspection results are received. |
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7.
Second deposit, Mortgage Commitment and Attorney Orders Title Work,
Survey, ETC |
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Normally after 10 business
days of contract signed, the balance of deposit (usually 10%) is due. The
mortgage commitment letter usually is expected to receive within 30 days
after applying mortgage. Your attorney will start to order the survey, and
title work. |
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8. Walk through and closing |
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You perform the walk-through
inspection with me on the day of the closing.
Closing in New Jersey is typically held at the buyer's attorney's office.
The buyer receives the keys and the seller receives payment for the home.
Title to the property is transferred from seller to buyer. Deeds, loan
papers, and other documents are prepared, signed and filed with local
property record offices. |
