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Home Buying Steps in New Jersey

The following articles cover the 11 main home buying steps involved in the overall buying process in New Jersey. I hope you find them useful. If you have any questions don't hesitate to contact me.

 

Step 1 : Are you ready to buy a Home?...

Are you ready to buy a home? You first need to know what you want, then determine your finances and establish your credit.

 

Step 2 : Get a Realtor®...

Buying a home in New Jersey is a complex matter. In the maze of forms, financing, inspections, marketing, pricing and negotiating, it makes sense to work with a professional REALTOR® who knows the community and can find your dream home.

 

Step 3Get Loan preapproval...

You do not want to skip this home buying step. Researching mortgages and lenders ahead of time and getting a preapproved mortgage gives you a clear idea of what you can afford, tells sellers you are serious and means that you don't have to rush the financing once you find a home that you want to buy.

 

Step 4 : Target your search...

To make your search effective, target what you want in a home and a neighborhood so you can make a sound decision when you choose a home.

 

Step 5Make an offer, counteroffer and negotiations...

When you're ready to buy, you will need to make a written offer. Covers: what you should offer, terms and conditions, contingencies, offers, counteroffers and negotiating.

 

Step 6 : Get a home inspection...

An offer to buy a home can include a “subject to” clause that is dependent on a professional home inspection. Home inspections assess a home's condition and let buyers know whether there are any deficiencies that need to be dealt with now or in the future.

 

Step 7 : Get a title search and finalized funding...

After making an offer, you need to do a title search on the property you wish to buy. When your offer has been accepted and you have determined that there is valid title to the property you are purchasing, it's time to finalize your preapproved financing.

 

Step 8 : Get a Home insurance...

Homeowner insurance protects homeowners in the event of catastrophe. If something goes wrong, insurance can be the bargain of a lifetime. The major types of insurance are title insurance, homeowner insurance, flood insurance and home warranties.

 

Step 9 : Signing the deal, closing/settlement/escrow...

Find out what's in a sale agreement, when to close and what happens during closing.

 

Step 10 : What's left to do after closing?...

Your offer has been accepted and you've gone to closing. Whether you're a first-time buyer or a repeat buyer, there are several more steps to take.

 

Step 11 : Moving...

You did it...your last home buying step. Even the smallest move has a lot of details to be taken care of. Included are tips on hiring a mover and a moving preparation checklist to organize the details.