Your Home Purchase

Congratulations! You have decided to purchase Real Estate. You'll be joining the ranks of hundreds of families who realize that home ownership offers a number of benefits including building equity, saving for the future and creating an environment for your family. Whether buying a house, luxury estate, or land for your future dream home, you can't go wrong owning Real Estate. Using our web site, you will find the information you need to help you through this long journey. We'll take you through the planning process step-by-step, to help you determine which property is right for you.
 
Before you consider going it alone, please take a moment to read about the buying process. Navigating the many steps is what we as REALTORS help you do. While today's real estate market presents many unique opportunities from low interest rates to foreclosure properties and short sales, the market is challenging and doing it on your own (especially if the seller is represented by a REALTOR) may result in frustration, the loss of the property you want or a higher sale price than you wanted to pay.
 
Here are the steps of the process:

1. Obtaining a Mortgage Pre-Approval from a reputable mortgage lender. We work with many different lenders who know the areas in which we market and can definitely help qualified buyers. This Pre-Approval will let you know your buying power. Whether or not you choose to spend as much as you are qualified for, is totally up to you. All offers that are made must be in writing and be accompanied by this document.

2. Searching for properties that meet your criteria for style (e.g., home, condo, townhouse, etc.), price, location, size, number of bedrooms and any other information important to you.

3. Making appointments to see the homes selected.

4. Narrowing down the search.

5. Selecting the home you want to buy and putting in a written offer. The pre-approval will be attached.

6. Negotiating the price with the sellers' agent.

7. Finalizing the offer in terms of price, amount of down payment, home inspection date, closing date and any other terms agreed upon.

8. Hiring an attorney to represent you. There are many local attorneys to whom we can refer you, should you need a name.

9. Going through the Attorney Review process with your attorney until all terms have been agreed to by both parties. At that time, after a minimum of 3 days for this process, you will be Under Contract and all time frames (mortgage commitment date and home inspection) noted in the contract must be met.

10. Scheduling your Home Inspection with a licensed inspection company. We can refer you to many excellent companies.

11. Applying for your mortgage.

12. Negotiating inspection items that have been raised by the inspection company which are satisfied before closing.

13. Performing a Title Search (done by the attorney) to assure you and the mortgage company that there are no liens on the property.

14. Obtaining your mortgage commitment.

15. Performing a walk-through on the day of/day before the closing to make sure all inspection items that were agreed upon have been satisfied.

16. Scheduling your move into your new home.

17. Closing on or about the date noted in the contract.

By the way, if you are also selling another property at the same time as you are buying, you have more of a reason to hire a REALTOR who will help you through that process as well. It is very challenging to coordinate the buy and the sell so that you can close on the two deals on the same day.

If you would like to get started and want some help, we can notify you of all new listings in the Northern New Jersey area that meet your saved criteria, absolutely FREE!  We can send you an automatic email every time a home is listed under the search criteria that you have selected. It's a great way to monitor the Real Estate market especially if you don't live in the area!

Take a look at the many listings that are available in New Jersey

Need help in finding that perfect home? We can help you "Find Your Dream Home"

 

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