Resources for Real Estate Buyers

Resources For Prospective Buyers

Buying a home can be an overwhelming process. From financing to negotiating to closing, there are a lot of moving pieces that can leave homebuyers bewildered.

A real estate agent can help guide you through each step of the buying process, offering sound advice along the way. By working with a professional agent who knows the ins and outs of the real estate industry, you’ll not only end up with a great home, but you’ll also walk away with a great experience.

Here are some of the key areas that an agent can help you with:

Getting pre-approved by a lender

By providing your real estate agent with some basic information about your income, savings, and debt, he or she can assist you in getting pre-approved by a reputable lender. The lender will then go over your financing options, what monthly payment amount you can afford, and what you can expect for down payment requirements and closing costs.

Choosing A Home

For most buyers, choosing a home is an emotional process. An agent can assist you in this process by offering objective information about each property you look at. From local community information like schools and zoning to home-specific details like condition and amenities, an agent can help you find exactly what you’re looking for.

Making An Offer

Once you’ve found the home of your dreams, an agent will research recent comparable sales of similar homes in the area to help determine a fair selling price. Based on those comparable sales, as well as other factors like inspections and repairs, an agent will then help you structure an offer and negotiate to get the very best deal possible.

The Closing Process

Closing, or settlement, can be a complicated process. In some areas, the escrow or title company handles the closing process, while in other areas an attorney handles it. Regardless of where you’re buying, a real estate agent can help ensure that everything goes smoothly.

Bergen County Homebuyer FAQ

Home buying in Bergen County, New Jersey is a process that is anything but seamless – unless you have our team at your disposal! We understand that there are a lot of questions that come with this process, and we’ve outlined the answers to the ones we get the most below! Contact our team today to make the home-buying process as painless as possible!

How Much Money Do I Need To Finalize A Home Purchase?

While the actual amount can differ from city to city and even home to home, you’ll typically need to put aside money for a down payment as well as the closing costs. These can both be calculated as a percentage of the purchase price, with the down payment amount being anywhere from 3-20% and the closing costs maxing out at around 6%.

What Are Closing Costs & How Do They Affect The Process?

Closing costs are the fees that come with creating your mortgage loan and are paid to multiple third parties, including the lender and settlement providers. They typically involve any fees associated with the lender, the closing fees set by Bergen County, and a title company’s title search and insurance.

What Essential Documents Do You Need For A Mortgage?

You’ll need to present these documents when applying for a home loan:

Recent pay stubs from a monthly period
W-2s and tax returns for each of the last two years
Copies of your driver’s license
Employment contacts and addresses for the last two years
The last two months’ worth of bank statements

What Is The Best Mortgage To Pursue As A First-Time Homebuyer?

The best mortgage to pursue will depend on which lender you choose for your loans, what your credit score is, your yearly income, and the amount you have saved for a down payment. Our team can help you find the best mortgage plan for your specific situation!

When Do I Get The Keys?

You’ll get the keys after the costs are finalized and the closing sale is complete – not before!

Real Clients, Real Results

Will never hesitate to recommend Bergen Realty Team for an excellent home buying experience.

Susan Graham and the Bergen Realty Team are HIGHLY recommended! Susan was instrumental in guiding us through our first time home buying experience. As first timers, we had a ton of questions & concerns. Sue helped us every step of the way. She was responsive, knowledgeable and compassionate with the all the ups and downs that came along the way. With the market as crazy as it was this past year, she reassured us and never lost hope we would be successful. We got an amazing deal on our forever home thanks to her, as she negotiated fiercely for us! We are SO happy we chose Susan, and the strong team behind her, for our team! Will never hesitate to recommend Bergen Realty Team for an excellent home buying experience. Thank you!!

Shannon R.

Rated 5 out of 5