Whether you’re a first-time homebuyer or someone who already owns multiple properties, buying a home is a major life decision and a substantial investment. However, navigating the market, submitting offers, and negotiating contracts can make homebuying seem intimidating. Hiring a real estate agent to guide you through the process and represent your interests can help. We work with buyers to find their ideal home and get them the best deal possible. We understand that every buyer is unique, and we use all means at our disposal to make our buyers feel comfortable and informed throughout the home buying process.
The most important thing you should know is how much you can comfortably spend on your home. If you’re financing your purchase, you’ll want to get pre-approved by a lender. If you’re paying all cash, you’ll need to be able to show proof of your assets. And remember, even if you’re financing, you’ll likely need to have enough cash available to make a down payment. Depending on the type of financing you get, that amount can be 5%, 10%, or even 20% of your total loan. Additionally, it is strongly recommended that buyers work with a real estate attorney when the time comes. There can be many moving parts during contract negotiations and the closing process. We work with the most experienced attorneys and lenders in the business to ensure that our clients feel protected in their investment. You should also be aware that there are closing costs associated with every transaction for both buyers and sellers. We as agents and real estate attorneys can help you understand the expense associated with mansion tax, title fees, mortgage recording tax, etc.
Aside from knowing the specifics of the home you want (i.e., how many bedrooms and bathrooms, garage size, backyard space, etc.) you should create a list of the top two or three neighborhoods/towns that you want to live in. Think about your potential commute to work, where your friends live, and nearby amenities like restaurants, schools, and grocery stores. We will help you throughout your search and can organize showings for homes that best fit your criteria. Once you find a home you love, you are ready to make an offer! Offers must be made in writing. Your offer should have your preapproval letter (if you are financing), proof of your assets and liabilities, any contingencies you have before a potential sale goes through, and your attorney information. Once we, as agents, submit the offer on your behalf, know that not everything will be negotiable. The seller may send you a counteroffer, which then begins a back-and-forth process until both parties come to an agreement we will fight hard to get you the best deal possible. With older homes, consider inquiring about assessments, fixtures, window replacements, air conditioners, rugs, floors, curtains, appliances, working fireplaces, washer/ dryers, etc. Homes are typically delivered empty — “swept clean” — unless negotiated otherwise.
If you are buying a home or property in New Jersey, the offer and contract needs to go into attorney review before you move on to the next step of the home buying process. A lot of people have some serious misconceptions as to what happens when you send an offer into attorney review. The most common misconception is that you have 3 days to complete the attorney review process. That is not true at all. In the state of New Jersey, you have a maximum of 3 days to hire an attorney to begin the attorney review step of buying a home.
The attorney review process can take a while to happen but, it is best when it can be done quickly. We always move quickly so that the seller does not have time or an excuse to look for other offers. Moving slowly could potentially allow the seller to accept another offer causing you to lose your dream home.
You have three days to complete the hiring process of an attorney. After doing this, the attorney can take as quick as one hour to complete the review process or up to a month in extreme.
As a home buyer, it is your responsibility to understand everything that is going on during this process. Because New Jersey does not have strict guidelines with how the escrow process needs to happen, the seller will typically have terms of their own. Whoever is the listing agent and assisting the seller, will most likely recommend what to do during the escrow process depending on the brokerage that they come from.
Home Inspection – Talk to us about having a quick home inspection from someone that they trust.
Tank/Property Sweep – Having a quick sweep of your property can save you thousands of dollars down the road. In New Jersey, the laws and permits have changed over the years. Some houses with either oil or septic tanks cannot be used for building certain structures and will not pass certain building permits.
Request A Survey – Surveying the land of any house will help the new homeowners understand what can and cannot be built in the future. As well as make sure all the property lines are in place with the neighbors.
Look Into Opening Permits – The possibility of opening permits allows you to better understand your property and will allow the buyer to see the possibilities of building in the future.
Tax Assesor – You need to have a tax assessor come in and double check to see if what the seller said was accurate. A lot of times in New Jersey, new construction home listings will say taxes are one thing, but you later find out they are much more. This can highly affect your budget.
Flood Zones – Just because you are at the top of the hill, doesn’t mean you are not in a flood zone. If you are, you will need to get flood insurance before most banks release a mortgage to you.
When you do your due diligence after your home offer has already been accepted, you can negotiate a bit further depending on your findings. Do yourself a favor and do your due diligence!
The home appraisal process is a critical part of wrapping up the home buying process. We think it is important for people to understand what a mortgage contingency clause is. This clause is one of our most asked about questions that we get, specifically about the home buying process in New Jersey.
A typical mortgage lender in New Jersey will want to have a 3rd party property appraiser that will give their honest opinion on what the house is actually worth, given the current marketplace.
Before any funds are released to anyone, the escrow provider needs a proof of mortgage from the bank and you need to begin your commitment to that mortgage. This process starts as soon as you are out of attorney review. You do not want to breech this phase of buying a home. In New Jersey we know that lenders will terminate your mortgage and you could potentially lose the deal all together.
Typically we will schedule a final walkthrough on the day of closing or the day before. This final walkthrough is basically a chance for you to make sure that the seller is holding up to their end of the deal. In New Jersey part of the final walkthrough includes transferring utilities and ordering insurance, we will assist you with this.
The final step in the home buying process will always remain the same regardless of what state you live in. You need to check everything! Double, if not triple check everything is where it should be, especially money wise. Read through everything multiple times! Understand the contracts, not just glance them over.
After signing the final paperwork to complete the purchase, you are now the owner of a new house. It may take a few days for your loan to be funded once the paperwork has been returned to the lender, but once that check is delivered to the seller, you’ll be all set to move into the home of your dreams.
Driven by expertise and a client-first approach, Natalia Rawska & Kevin Oliveira deliver seamless real estate solutions for sellers, developers, and investors. From luxury properties to development opportunities, trust them to navigate every transaction with precision and care.
