Buyers Guide

BUYER'S GUIDE

Presented by Jersey Property Group
        

                                     

732-800-1767 - SellYourHomeNJ@gmail.com

     Meet The Team

                                                   Over 200 homes sold!

               

Susan Bonner, Realtor Associate – Seller & Buyer Specialist with strong focus on
successful marketing and negotiating.

Christopher Ulbricht, Realtor Associate - Seller & Buyer Specialist and Local Business Owner

Jennifer Mawson, Realtor Associate - Seller & Buyer Specialist has been licensed for 10+ years

Gary Mawson, Broker Associate - Seller, Buyer, and Investor Specialist
NJAR Circle of Excellence 2013-2019, Certified Residential Specialist

Danielle Levine, Realtor Associate - Seller & Buyer Specialist
Skilled negotiator, sold over 100 homes

Gail Plaza, Realtor Associate - Seller & Buyer Specialist Member of local community for more than 30+ years


Client Testimonials

            What our Clients are Saying

"We were so happy that Danielle was our realtor during the process of buying & selling our home. She knew the area well and helped us find a home that fit all of our needs in an area with good schools. Buying a house can be an emotional process with a bumpy road, and Danielle went out of her way to  make sure that we weren’t taken advantage of. She was always quick to respond and understanding of our needs.."

- Megan

"Gary is the best! From the moment we met him, he made us feel comfortable and at ease in the midst of a stressful process. Throughout, he was generous with his time and knowledge, and never lacked patience with us. He and his team went above and beyond to provide those extra those extra touches to  give us the best experience. We highly recommend him to anyone in the market!"

- Phil

"Jenn worked with us for approximately a year and was very patient for the long days of multiple viewings. We originally had a deal that fell through on a different home and we were discouraged but Jenn would not let us give up, she kept working diligently and we eventually found exactly what we  wanted. Jenn’s efforts and responsiveness helped us tremendously get through the home buying process smoothly. I would recommend Jenn to anyone looking to buy or sell a home because of her commitment to helping us find what we wanted."

-Ed

"Susan was very thorough and receptive to all my real estate needs on both the buying and selling ends. She went out of her way to make visits to places on my behave when I couldn't do it in person. She was also very knowledgeable of the market and offered great advise before I listed my moms house after she passed away. She made selling that housevery easy for me. I would highly recommend her as a real estate agent."

-Matt

"Chris communicated in detail every step of the way, answered all of my questions/texts/calls promptly, navigated the issues that arose for me, and was really supportive throughout the process. After working with him for a little bit, I felt this tremendous weight lifted off my shoulders. Professional, kind, transparent, honest, and simply the best."

- Brooke


          From Meeting to Moving

           The Process of Buying a Home

Steps for choosing your new home:

  • We discuss your wants and needs in a home. Using this information we begin sending you homes that we think you may like.
  • You will work with a mortgage lender to receive a mortgage pre-approval. Your lender will ask you for financial documents at this time, unless you are intending to buy the home with cash.
  • When you see homes you like we will schedule a time to go view the home.
  • After finding your dream home we submit an offer.

Once your offer is accepted:

  • Once the offer is accepted we begin Attorney Review.
    • Attorney Review is a time when your attorney and the Seller’s Attorney review the contract and can make any changes that all parties agree to.
  • After Attorney Review concludes we are officially Under Contract.

Once you are Under Contract:

  • You schedule your home inspection with a licensed home inspector.
    • We recommend you attend the home inspection.
  • You review your home inspection report and can request the seller to have repairs done or ask for a credit to have those repairs done yourself after closing.
  • Your attorney orders title to ensure there are no liens.
  • Your lender will order an appraisal of the home.
  • Your lender will issue your mortgage commitment. While your lender is working on your mortgage commitment they will ask you for additional paperwork.
  • Once title is back we should have Clear to Close.

Days leading up to Closing:

  • The Attorneys will coordinate the closing.
  • We do a final walk through of the home right before closing to make sure everything is as expected.
  • You close on the home!

It’s important to know that this is a breakdown of how the home buying process typically goes, 
however each sale is unique therefore some details you could experience may not be on this list or subject to change.

                    FAQ's

Why do I need a lawyer to buy a home? The lawyer will assist you in several aspects of the home buying process to make sure your interests are protected. They will work with your lender to ensure that your loan is timely, and closely review all documents prior to the actual closing. They also attend the closing and help you clearly understand the documents you will be required to sign.

What is Pre-Approval? Getting pre-approved means that you have a tentative commitment from a specific lender for mortgage funding. In this case, you provide a home loan lender with actual documentation of your income, assets, and debts. Once you are approved, the lender will give you a letter of commitment stating how much money the bank is willing to loan you for a home purchase. With a pre-approval in hand, real estate agents and sellers will take you much more seriously when they see you have your mortgage funding in place.

What is Attorney Review? This is a period in which buyers and sellers can have their contracts reviewed by a real estate attorney. The purpose of the review period is to allow the attorney the opportunity to be sure that their client’s interests are adequately protected during the home buying process. The time period starts once the fully signed contract is delivered to both you and the seller.

What happens after Attorney Review? After both attorneys agree that attorney review has concluded, you will send to the Seller’s attorney any additional deposit monies that may be due, have your home inspections performed and proceed with your mortgage. Once all this is done, the attorneys set up the closing date and prepare the closing package and the closing statement.

What is a home inspection? A home inspection is a visual inspection of the physical structure and components of your potential new home. Home inspectors focus especially on the structure, construction, and mechanical systems of the house and will make you aware of any repairs that are needed. Generally, they check the electrical system, plumbing, waste disposal, the water heater, insulation and ventilation, the HVAC system, water source and quality, potential presence of pests, the foundation, doors, windows, ceilings, walls, floors, and roof.

What is a title search and title insurance? A title search is a means of determining that the person who is selling the property has the right to sell it, and that the buyer is getting all the rights to the property that he or she is paying for. Title insurance is protection against loss arising from any problems connected to the title to your property. For example, someone along the way may have forged a signature in transferring title. Or there may be unpaid real estate taxes or other liens. Title insurance covers the insured party for any claims and legal fees that arise out of such problems.

What is an appraisal? A real estate appraisal, performed by a licensed or certified appraiser, is an estimate of the current market value of a property, based on an analysis of current data. The current market value is what a ready, willing and able buyer might pay for the property in the current market. The appraisal helps protect the mortgage lender from lending on the property that is worth less than the mortgage amount.

What is homeowner’s insurance? Homeowner’s insurance is required when you obtain a mortgage. It covers everything from fire damage to liability if someone is injured on your property. A paid homeowner’s insurance policy is required at closing so arrangements will have to be made prior to that day.

What is mortgage insurance? Mortgage insurance is an insurance policy which compensates lenders for losses due to default of a mortgage loan. It is usually required for people who are borrowing more than 80% of what an appraiser estimates the property to be worth. In such cases, the mortgage lender may require mortgage insurance as a condition of the loan approval.

What happens at the closing? At the closing, the Buyer and Seller sign the closing statement, you sign your mortgage documents and the Seller delivers the Deed. The Seller then gets their check and you get the keys. At that point, you own your new home!

What are my closing costs? - In addition to your down payment (which is determined by you and your lender) your lender will provide you with a good faith estimate giving you a breakdown of your closing fees that include the attorney fee, homeowners insurance, prepaid taxes, escrow, and more. * Fees that are paid prior to closing are the deposit on the home (that is applied to your down payment), home inspection (due on the day of inspection), and appraisal (due when the appraisal is ordered).


            Types of Home Sales


Bank Owned/Foreclosure

Owned by the Bank and can close in a timely manner, but many times sold as-is.

Short Sale

Owner owes more than what their home is worth. This process may take a long time to close andis unpredictable. This type of sale is Sold as-is.

New Construction
Homes that are being built by a builder. We can still represent & guide you in this type of sale.

For Sale By Owner
Seller is not represented by a Real Estate Agent. We can still represent & guide you in this type of sale if the seller agrees to work with a buyer's agent.

Auction
Homes that are being auctioned off and are bid online. This type of sale is cash only purchases and requires a non refundable deposit.

Traditional Sale
Seller and Buyer are represented by a Real Estate Agent to assist in the sale and/or purchase of their home.


List of Trusted Affiliates

Attorneys
Chris Beekman
732-774-8262
47 Main St, Ocean Grove
christopherlbeekman@gmail.com

Rimma Elbert
732-607-2121
2968 Rt 516 Old Bridge, NJ 08857
elbertlaw@optimum.net

Piotr Rapciewicz
732-903-8008
445 Brick Blvd #205, Brick
piotr@rapciewiczlaw.com

Mortgage Lenders
Equity Prime Mortgage
Evan Beach
609-610-6256
ebeach@equityprime.com

NJ Lenders Corp
Jason Obrusniak
201-610-0222
jobrusniak@njlenders.com

Home Insurance
LG Insurance
Margaret Gordon
732-963-2175

Home Inspectors
Accredited Home Inspection
Bill Vizzi
732-888-1800
info@njinspect.com

Hodges Home Inspections
Bob Hodge
609-602-4821
robhodges58@msn.com

House Masters
Robert Kuhn
732-489-4279
robert.kuhn@housemasters.com

No Place Like Home Inspections
Anthony Bertolini
732-684-0852
anthony@nplhinspections.com

Home Security
ADT
Chris Trimble
201-388-6101

Title Company
Green Label Title
732-722-7373
2520 Hwy 35, Manasquan NJ
If you need recommendations for other types of services please reach out and we will be able to help!

Areas We Cover