Do you know how to buy a house in Bergen County? If you don’t, you could find the home buying process a nightmare. Even if you own a home now, the way you bought yours years ago is not the way it’s done today.
Here’s a brief review –
- You find the home you want
- You make an offer on the NJ State mandated contract with a pre-approval
- Negotiations come next – let’s say you come to an agreement
- The offer is revised to reflect the agreement and sent to the seller
- The seller signs the offer so it is now a contract for sale
- This contract is scanned and emailed to you and your attorney
- Attorney Review is next. As a result, a firm, binding contract is created.
- Next comes the home inspection
- Any issues found are often negotiated with the seller.
- If you come to agreement on inspection issues, you move forward. If not, the contract is cancelled.
- Very often this is when the first part of the down payment is sent to the seller’s attorney
- The mortgage is processed
- Your attorney will order the title, survey, prepare the closing document.
- The closing document document is sent to you at least 3 days before closing
- You do a walk through inspection on the way to closing (sometimes 1 week earlier too)
- Now you close on your new home in your attorney’s office.
I’ll fill in more details in future articles but this is basically how to buy a house in Bergen County. You’ll need an attorney – that’s for a future article too. Learning the home buying process early on puts you in control because you will know what you’re doing. A lot of unnecessary stress is eliminated as a result. It’s not hard to do this – I usually go over the 13 page contract with my customers in barely 30 minutes.
Have questions, want to go over this with me? Contact me for help.