Buying a home can be a daunting process if you don't know what to expect. And, each area has it's own way of doing things.  NJ is no different.  But, in our ongoing effort to make your move as stress-free as possible, here we will provide you with a detailed description of what to expect and what to do to ensure your real estate success.  Be sure to contact us at any time with any questions you may have.  We are happy to help and will always respect your privacy and timeframes.  So, don't hesitate to ask.  For Transaction Descriptions, click here.

Getting Started

Who's Paying for This?!!!  Breathe . . . in NJ, the Buyer's Agent and Listing Agent's commissions are both paid for by the Seller. 

Find an Agent:  In NJ, almost all agents are members of an MLS (Multiple Listing Service) for their region.  As a result, we all have access to all of the homes for sale in that region.  So, unlike in other areas, in NJ you typically work with just one agent/Team to see all listings.  You want to find an agent to work with that has the experience and expertise that you deserve, as well as, one that you feel comfortable with.  Buying a home is an important process and you surely want to feel comfortable that your agent will respond to your questions and listen to truly understand your needs!  Feel free to check out our credentials on this site and be sure to read what our clients are saying about us.

Get Pre-Approved:  In NJ, Sellers will almost without exception insist that Offers be accompanied by a Pre-Approval letter confirming your financial abilities.  To attain a letter, contact any mortgage company.  Be sure to clarify that you need a Pre-Approval Letter and not a Pre-Qualification Letter!  (Click here to learn the difference.)  Most companies will provide you with a letter free of charge and with all companies, there is NO OBLIGATION to actually fund your loan through them.  So, you don't need to worry about rate or program shopping at this point.  During the phone call you will need to tell the Lender of your financial standing.  They will then verify the info and compose your Pre-Approval letter.  The process can be as short as a couple of hours and should certainly take no more than a day.  Contact us for phone numbers for great mortgage representatives that can provide you with that letter with minimal hassle and in just a couple of hours.  Your Pre-Approval letter will not only make you a strong buyer, but it will ensure that you are searching in a range that will meet your investment goals!  For more Mortgage info, click here.

Review Listings:   Many folks will review the internet for listings.  That is just fine.  But, you want to talk with your agent about your search parameters and any homes that you find that are of interest to you.  Agents will always have access to more information than is publicly available on the internet.  "The Norrod Team" will provide you with addresses, specific details, and with neighborhood information that may impact the property and your interest in it. 

"The Norrod Team" will provide you with listings via e-mail, phone, or any other way most convenient to you.  We typically have also seen the homes first-hand and can provide you with very detailed descriptions.  If we haven't seen a home that is of interest to you, we will always go and preview it for you so that we never waste your time!

Drive by Homes:  We always recommend that you drive-by properties before taking your time to actually view them; if you have the desire and ability to do so.  (That is not necessary though recommended.)  Neighborhoods are often the most important factor in determining a home's match for you.  In driving by, you will be able to prioritize neighborhoods that you really love and we can search more effectively for you.  We can also then specifically watch for homes coming on the market in those areas that aren't necessarily already for sale. 

Get Inside:  Next you will set an appointment to view the properties that are of interest to you.  "The Norrod Team" will provide you with maps, area info, and specific info relevant to your needs and desires to augment your ability to make a great decision about the homes best for you.  You may want to view a home more than once to be sure it is the best one.  That is fine.  Most folks need to see a home twice before moving forward.  And, yes, it is fine if you want someone important to you to accompany us on the showing.  We want you to be as confident in your decision as you can be and will make sure we can make that happen! 

Learn More:  Almost all Sellers will provide the agents of interested Buyers with a Sellers Disclosure and possibly a Survey.  These documents - though not legal papers - will provide you with the Sellers assertion as to detailed physical aspects and changes to the home and lot.  (Click to see a Seller's Disclosure.)  "The Norrod Team" will also accompany you to the Township to assist in finding any other pertinent info. on the home.  Please don't confuse this with a Home Inspection.  Once you are Under Contract, you will be completing a detailed home inspection with a qualified Home Inspector you have hired.  If there are any physical defects that your feel important and the Seller will not fix, you can typically cancel the contract. (**You Must speak with your Attorney or us for more info. on canceling a contract for home inspection defects.**)

Make an Offer:  Once you have found the home for you, you will make a written "Offer" on the property.  (Click for "What we Need to Know to make an Offer".)  We will work with you on what to offer, draft the Offer for you, review it with you, and then you will sign the Offer.  We can do this in person or electronically depending on your preference.  The Offer is then submitted to the Listing Agent for the home who will present it to the Sellers.  The Sellers will either accept the Offer as is or make a Counter-Offer to you.  (via your Agent)  A negotiation process of Counter-Offers then begins until you come to an agreement with the Sellers on the terms of the Offer and/or you decide not to move further.  This process can be as short as a few hours but can take up to a couple of days depending upon how accessible you and the Seller are and how long each party thinks about Counter-Offer options. 

** Please note that in NJ your Offer is not legal or binding until you come out of Attorney Review.  It is ONLY at that time that you have a Contract.**

1^st Deposit:  An initial deposit of $1,000 typically "accompanies" your Offer.  The actual amount is determined by you and can be more or less.  This check is due to your Attorney on the 1^st day of Attorney Review.  (Click Here for more on Attorney Review.)

Contract to Close:  The transaction part of purchasing a home then begins with attorneys, inspections, Title searches, and the like.  Click here to find out what happens during the Transaction Process.   The transaction stage ends with the Closing where you assume your mortgage (if applicable), the Title, and take possession. 

Remember to Contact Us with any questions and/or for more description.  We have successfully helped many, many folks buy their ideal home and understand that no question is "too small."

Search for Homes | Home Finder Service | CMA Request | Relocation Package
Our Blog | Our Newsletter | About Us | Library | Disclaimer

Chantal Konicek, CRS, e-PRO & Mark Konicek
"The Norrod Team"
Sales Associates / Market Consultants
RE/MAX Classic Group
47 S. Finley Ave., Basking Ridge, NJ 07920
E-Mail Us

Return Home