The home buying process, step by step
Buying a house is one of the biggest purchases you will make. Here is how a typical New Jersey home purchase moves from signed contract to closing day, and where your real estate attorney protects you along the way.
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Attorney review
After the contract is signed, my office prepares suggested changes to protect your interests. Once you review and approve them, they are sent to the seller's attorney, who makes changes on behalf of the seller. When both sides reach a meeting of the minds (agreement on the terms), attorney review is complete.
Before attorney review ends, either party can cancel for any reason. That is why it is important to call Scott as soon as you sign.
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Home inspection
After attorney review ends, you hire a home inspector to check the property for substantial defects. If the inspection finds substantial defects that the sellers refuse to address, you may cancel the contract.
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Title and mortgage
While your lender works on your mortgage commitment, my office orders the title search and title insurance and reviews them for liens, judgments or other problems, so they can be cleared before closing.
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Closing
The closing of title takes place at the office of the buyer's title company or at the new home. We come to you for the closing anywhere in New Jersey. First, you sign the mortgage documents. Prior to closing the sellers and their attorney sign the documents that are required to transfer title. Then the money and keys are exchanged, and you are the owner of your new home.
Selling a home too? See tips for selling a home in NJ. Buying a business property? Read about commercial real estate.