The Home Buying Process
Buying a home can be an overwhelming process. Fortunately, an excellent realtor can guide you through the process and help you get your foot in the door!
Buying a home can be simple when you choose to work with a trained real estate professional! The following is an overview of the home-buying process, with links to additional information for each step. At any time, you can contact the dean directly to give you the best guidance!
STEP ONE
Speak Wth A Real Estate Broker
Be very selective when choosing a Realtor! Don’t be afraid to ask questions and see how your Realtor plans to work for you.
How to interview a Realtor ~ A good Realtor can take you from start to finish, prioritizing your needs and wants to make sure you’re happy with your new home!
STEP TWO
Get Pre-Qualified
Talking to a reliable mortgage professional early in the process is essential. You need to determine the type and amount of mortgage you could obtain, as well as make sure you’re comfortable with the potential monthly payment. This is called “getting pre-qualified”, and it will help you set your budget before looking at homes.
To learn more about getting prequalified click here: Pre-qualified
STEP THREE
The Home Search Process
Your Realtor will create a “search portal” for you of all the homes listed for sale in the MLS (Multiple Listing Service) that meet your needs, wants, and budget. When you find homes that interest you, feel free to drive by and check the location. Then, make arrangements with your Realtor to view the interior.
STEP FOUR
Negotiating the Price and Terms & Conditions
When it’s time to make an offer, you can rely on information from your Realtor to determine a good price. Your Realtor will show you what similar homes have sold for, as well as help determine down payment, escrow deposits, inspection guidelines, closing date, and more. Your Realtor will use negotiating skills to help get the best deal for you!
STEP FIVE
Getting your Dream Home "Under Contract"
Congratulations, the seller has accepted your offer! Now your Realtor will walk you through the contract-signing process. Once all parties have signed the contract, NJ offers a chance to have an attorney review it. At this point, utilizing an attorney is a recommended step. You can choose any attorney that you already know, or ask your Realtor for recommendations.
STEP SIX
The Contract Process
There are a few key "milestones"
Completing attorney review - once the attorney review period is complete, you are under contract and must make sure you make your escrow deposits.
You will generally have 14 days to complete any home inspections.
You must officially apply for your mortgage, and your mortgage commitment is traditionally due within 30 days.
Review the below Chart: Purchase Process - Contract Milestones
STEP SEVEN
Getting to the Closing Table!
Needless to say, getting to the closing table is the primary goal! Like a well-orchestrated symphony, your team should all work together to have a smooth and successful closing. Your Realtor, mortgage company, attorney/title agency, and you are all working together! There are many tasks to accomplish, and working with a great team will ensure your success.
Attend our Free Home Buying Workshop
This fabulous session is designed for the "First Time Buyer" or those looking to "Upgrade" or "Downsize" This valuable session is a “ MUST” not to be missed. Please contact us for specific details on the next session, also you may ask about our individual zoom session..
Call 609-895-0500 or
Request a Free Home Buyers information session - Click Here
Now is a great time for Buyers - See why Top 10 Reasons Why!
