Local Buying Tips | CENTURY 21

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There are four steps in the real estate buying process: choosing a real estate agent, qualifying for a mortgage, selecting your new home, and closing the sale.

The most important decision when buying a home is who you choose to represent you. Your real estate agent will support you throughout the process, help you find the right home on the best possible terms, and guide you through the documents and procedures throughout the transaction.

The real estate agent that you choose should be:

·         Knowledgeable about the communities of interest to you

·         Aware of the complicated local and state requirements affecting your transaction

·         Effective in multi-party, face-to-face negotiations

·         Highly-trained, with access to programs for continued learning and additional certifications

·         Technology-focused

·         Supported by professional legal counsel

Once you have chosen a real estate agent, the home buying process begins and it is time to address financing. Most real estate professionals and mortgage lenders recommend pre-qualifying for a loan before selecting a home to purchase. By pre-qualifying you can assure sellers that you have the resources necessary to purchase their home. Sellers are more likely to accept an offer from buyers that have already been approved for a loan. This process will help you:

·         Determine the price range you can afford

·         Understand the types of loans you qualify for

·         Determine what your monthly payment will be

·         Estimate the down payment and closing costs

The next step in buying a home is to select the location that you want to live, and the home itself.  In terms of location, take into consideration, schools, houses of worship and shopping. Based on your requirements for the home itself, your Realtor will help you find the perfect home. There are many factors to consider in selecting a property, including location, bedroom and bath count, schools and amenities. As you view different properties, your criteria may change. Your Realtor will apply their extensive community knowledge and professional resources to research available properties, and show you the homes that best meet your needs

Once you have found the home that you wish to purchase, your Realtor will apply their professional training and do all the necessary research to help you structure an effective offer. This is where their negotiation skills come into play. When an offer is made, the seller will have the option of accepting, rejecting or counter-offering. Your Sales Associate will negotiate the best possible terms for you.

Your Realtor will draft the purchase agreement, advising you of protective contingencies, customary practices, and local regulations. Home warranty, title and escrow arrangements will be detailed in the offer. Although your Sales Associate will give you advice and information, it is your decision as to the exact price and terms that you wish to offer.

There are several requirements prior to closing that your realtor will coordinate. These include:

·         Obtaining the preliminary title report

·         Obtaining an appraisal of the property

·         Physical inspection of the property

·         Pest inspection and certification

·         Acquisition of homeowner’s insurance

The last step in buying a home is Closing. When all of the conditions of the purchase agreement have been met, you will sign your loan documents and closing papers. You will deposit the balance of your down payment and closing costs to escrow, and your lender will deposit the balance of the purchase price. The deed will then be recorded at the County Recorder's office and you will take ownership of your home.


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CENTURY 21 Van Der Wende Associates

Little Falls, NJ   -  973.785.8420