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Buyers Guide

Holding House Key

Are you shopping for your dream home in Tenafly, Demarest, Edgewater, or any of Bergen County, New Jersey’s beautiful and luxurious neighborhoods? The Stacy Esser Group has all your real estate buying needs covered with this comprehensive guide.

The Real Estate Buying Process

Here is a breakdown of the steps we’ll take in order to get you into your dream home:

  1. Be clear with your purchasing goals

    Buying a home is a major financial commitment, so put serious thought into your purchasing goals.

    Are you a first-time home buyer looking to move out of the apartment-renting lifestyle? A growing family looking for a larger house? An empty-nester who needs to downsize? Or a property investor looking for a lucrative opportunity?

    The answers to these questions will help determine the course of your home buying process.

  2. Get a mortgage pre-approval

    A mortgage pre-approval determines your actual purchasing capability.

    For this step, lenders will need proof of your income and assets. While requirements vary from lender to lender, typical documents they will ask for are:

    • Pay stubs
    • Bank statements
    • W2 forms
    • Tax returns for at least two years
    • Copies of leases
    • Investment statements
  3. Do your homework

    Learn as much as you can about the neighborhood you’re interested in. Drive or walk around to check out the sights and amenities. Talk to the residents. Schedule visits at different times of the day or the week to see how the local pulse changes at any given time.

  4. Narrow down your search

    Make a shortlist of your Top 3 options to make it easier to compare each one’s best and least attractive qualities. Consult with your agent to learn more about each option’s long-term resale value.

  5. Make an offer

    Work with your agent to create a compelling offer letter. Your agent’s knowledge of local market conditions will help you arrive at a bid that will catch the attention of the seller, while keeping your financial goals in consideration.

  6. Consult a real estate attorney

    A purchase agreement becomes legally binding when both the buyer and the seller sign an initial contract. In New Jersey, these contracts take three business days to become final. During this period, an attorney review is recommended to ensure that there are no legal loopholes that can delay the closing of the sale or create future problems for the property’s new owner.

  7. Go through escrow

    The purchase agreement outlines different contingencies that must be met in order to complete the sale. These must be fulfilled during the escrow process, which begins when a buyer deposits earnest money to a neutral third party. The escrow company also holds on to all required documents until all agreed-upon requirements are satisfied.

    At this stage, get professional inspections done on the property, have title and escrow companies guarantee that the property has a clear title, and secure your financing for the mortgage.

  8. Seal the deal

    When all of the necessary inspections and paperwork are completed, you and the seller move toward closing. At closing, you’ll both sign a final, binding agreement that describes the terms of your payment responsibilities. After this, your earnest money will be handed over to the seller and you will receive the keys to your new home!

Enjoy these Expert-Quality Buyer Services from the Stacy Esser Group

Work with a reliable professional partner to significantly improve your home buying experience. With a trusted agent working by your side, you gain more in-depth local community and market insights, seasoned negotiation skills, and a helping hand to handle all of the necessary paperwork.

For Bergen County, NJ homes for sale, the Stacy Esser Group covers all your needs, including:

  • Reliable portfolio manager services, which deliver comprehensive information about the latest property listings that meet your criteria.
  • Meticulous attention to detail and a low-pressure approach throughout the buying process.
  • Detailed analyses of sold homes in your neighborhood to keep you in the loop of the local market’s performance.
  • Expertise on 1031 Tax Exchange Deferred programs and Creative Loan packages.
  • Pertinent advice on inspection-related matters, such as a structure’s foundation, building permits, mold buildup, and hazards such as lead and asbestos.

Get the best package of real estate services to suit your home buying needs. Contact the Stacy Esser Group at (201) 894-8004 ext. 547 or email stacy(at)stacyesser(dotted)com.