Posted by & filed under Buying.

Do buy a houseyou 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 buy a housearticle 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.

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