Buying a home is often one of the biggest decisions that a person will ever make. Between choosing your neighborhood, determining your budget, obtaining financing, and actually closing the deal, the entire process can be confusing and stressful. Here are 4 things that consumers should keep in mind during the home buying process.
Start with a Pre-Approval
Talk to a mortgage company or a bank about getting pre-approved for a mortgage. This will ensure that you have a realistic idea regarding your budget and can shop appropriately. It is important to understand, however, that a pre-approval is not the same as an approval and the amount of financing you are able to obtain may change.
Do Not Underestimate the Value of a Real Estate Agent
Finding the right home for yourself or your family can be a daunting task, and working with a real estate agent can make the process significantly easier. A real estate agent will help you find homes that suit your needs and also will have knowledge about issues like local taxes, school districts, and services in the area. Your agent will also help you determine how much your first offer should be and can conduct price negotiations on your behalf.
Retain an Attorney
While New Jersey law does not require home buyers to retain an attorney, it is highly advisable to do so. A lawyer who understands real estate law will ensure that your interests are protected and will guide you through the entire process.
Make Sure Your Attorney Comes to the Closing
A real estate closing is the point at which the actual transfer of ownership takes place. They involve a significant amount of complicated paperwork, some of which will be provided by your mortgage lender. These documents can impose significant rights and responsibilities on you as a buyer, so it is critical to have your lawyer review them before you sign.
Call 732-422-1000 today to schedule a case evaluation.
If you are considering buying a home or a piece of property, you should speak with an experienced New Jersey real estate transactions lawyer as soon as you can. An attorney will protect your rights and make sure that your purchase goes as smoothly as possible. To learn more about how an attorney can help, call Borrus, Goldin, Foley, Vignuolo, Hyman & Stahl, PC today at 732-422-1000 or contact us online.