:: Buyer Information

When you start your journey for the perfect home it is important to have as much information as possible. You need information about the area: the school district, the neighbor hoods, proximity to mass transit, the local shopping and restaurants.  Then you need to assess your personal needs and preferences: what style home, how much square footage do I need, do I want a basement, a garage? What about a mortgage, how much do I need for a down payment and what about closing costs? Should I talk to a mortgage representative There are so many questions to think about and answer in the search for the perfect home. This is where the professional agents from Century 21 Abrams, Hutchinson and Associates are invaluable.  Our agents have all the information you need! They will take you through each step one question at a time. Our goal is to help you find the home you want, and can afford.

Choosing Your Real Estate Professional

With over 150 agents we offer experienced agents for all areas of Central New Jersey, so no matter what town you want to live in we can provide a seasoned agent to assist you in your search for a new home. Our agents pride themselves on their ability to really listen to their clients to find them homes with the criteria they are looking for.  From your first meeting to the day of your closing our professionals are there to address all of your concerns and needs.

Our agents can provide you with pertinent information about the: area, the school districts, local activities, commuting information, as well as information on the rules of buying a home if you are in the country with a green card or on a work permit.

Choosing a Mortgage Representative:

There are other things to consider, such as down payment, monthly payments, association fees, taxes. We offer two “in office” mortgage officers from Bank of America and Wells Fargo. These representatives can provide you with all the answers to the questions you may have, as well as get you pre-approved to get started with your bid to buy a new home.

There are many things to consider when starting out on this house hunting journey. The mortgage professionals are going to be able to address the following issues.

How much should I put down? What are my closing costs? What is the difference between an FHA and Conventional loan?  Do I qualify for a VA loan? What are the interest rates, and why do they change? What is the difference in payments for a 20 year to a 30 year loan?

How does my credit score affect me applying for a mortgage? What if there are late payments or collections on my credit?  Do I have to pay for my credit report?

What is a pre-approval? How long is it good for? If I get a pre-approval from one bank do I have to use them for my mortgage?

What is an appraisal? Who pays for it and when? When does it have to happen?

How do I pay for my real estate taxes? How does the association payment affect my mortgage?

How do I know if I need a jumbo Loan?

What is a mortgage commitment?

What is a good faith deposit; does it count towards my down payment?

What inspections are required for the mortgage company?

Can I do a no document loan? Can my parents give me money for my down payment?

Again our mortgage specialist can assist you and answer all of your questions, so you should give them a call today!

Steps for buying a home:

Your real estate agent will walk you step by step as you travel through the purchase of a new home

1. Make a list with criteria of what you are looking for.

2. Speak to a mortgage representative to get a pre-approval and to set your price range.

3. Start your search; your agent will select homes with your criteria and within your price range. Finding the perfect home could take a week or many months so be prepared to spend time looking. If you are renting you should consider starting about 3-4 months prior to your lease being up.

4. Once you have found a home you want, you will put in an offer. There will be papers to sign and a good faith deposit. This deposit will count towards your down payment.

5. Then it’s time to negotiate, there are usually a few rounds of offers and counter offers. This is unless the home is a short sale or a foreclosure; those are special situations and can be described in detail by your agent.

6. Once there is an accepted offer, there will be more contracts to sign. Then it’s time to obtain a lawyer to review the contacts and move forward into attorney review.

7. Once attorney review has ended it is time to schedule the home inspection and to get started on your mortgage.

8. You will have to choose a certified home inspector to come to the property and they will perform a detailed inspection of the property including a radon test, a termite test and a general overview of the property. If there is a well and a septic system separate inspectors are usually needed to test these items.

9. Once through the inspection the inspector will send you and your attorney a copy of the report and those items that may need to be addressed will be.

10. Once you have all of the mortgage documents to the bank, they will schedule the appraisal. As the home buyer you do not need to be present for the appraisal.

11. The next steps happen with the advice of your attorney: the home owners insurance and the title search.

12. Once the inspection issues are addressed, the mortgage commitment has arrived, the insurance is in place and the title search is done you are in the home stretch. Of course for some homes there are more steps such as: a survey, condominiums work sheet or an underground oil tank certification… every transaction is different and all of our agents are equipped to handle all of your needs.

13. The attorneys will schedule the closing and you and your agent will do a final walk thru prior to closing. At this time you will make sure that any of the inspection issues that needed attention were take care of. At this time we will also make sure all fixtures and appliances are in working order.

14. It is important to remember that you should call all of the utility companies prior to the final walk thru. It is your responsibility to have all of the utilities put into your name.

15. It is time to attend the closing, traditionally held at the buyer’s attorney’s office. Your attorney will explain the closing documents and your mortgage information. Then there will be many things to sign, then the keys are yours and so is the home!

Again this is just a brief over view of what to expect, when you speak to one of our qualified agents they can go into more depth about each point above.

Buying a home with the Century 21 Abrams Hutchinson Team is a memorable and easy experience! We are here to help you with your search and every step after you have found the home of your dreams! It should not be a scary scenario… it will be exciting and fun!