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The Transaction: The Home Buying Process with Saritte

Purchasing a home, especially for the first time, can be confusing and stressful. It is important that your broker explains all the relevant steps, players and timing involved, and is at your side every step of the way. My approach is “hands on” and I believe in being with clients at every juncture.

1. Buying a home is a big commitment, so it is important to begin with a pre-purchase consultation during which I review the buying process as well as gain a deeper understanding of my clients’ needs and goals.

2. Next, I educate my clients about the areas they are looking at. In addition to providing maps, demographic reports, and articles of interest about prospective towns, I tour the areas with them so they can see and feel for themselves what the towns have to offer.

3. Once the target neighborhoods have been selected, we can review and evaluate properties together. As clients narrow down their search, I pull together the necessary resources to help them make an informed decision: recent comparable property sales, market analysis, and if necessary, contractors to help determine the cost of any improvements/repairs.

4. Throughout the process, I also guide clients in obtaining mortgage pre-approval, accessing local real estate attorneys and home inspectors, and understanding closing costs. Once a property is identified, I prepare the contract of sale and negotiate the purchase on behalf of my clients. (At this time, the offer is typically accompanied by an initial deposit).

5. Once accepted, the contract would then enter into Attorney Review, usually 3 business days. During that time, the client’s attorney reviews the contract and the client also becomes familiar with the terms of the contract. The seller or buyer can back out at any time; the contract is not binding until it is out of attorney review. Following attorney review, a property is officially “under contract.” The buyer’s attorney orders title insurance and a 2nd deposit is due in accordance with the date listed on the sales contract.

6. A home inspection usually follows, which I attend along with my clients.

7. Any issues arising from the inspection are typically negotiated by the clients’ attorney with my assistance.

8. The final step once an offer has been accepted, and the clients look forward to most, is the closing. I attend the closing with my clients and celebrate with them as the house they’ve dreamed of becomes theirs.

Closing Costs Explained

Closing costs are not the first thing buyers think of when deciding to purchase a home. However, they are an important factor in the overall amount buyers will spend to purchase a house. It is essential that buyers understand, upfront, what the costs are likely to be. Below is an overview of the most common costs associated with buying a home. However, I encourage all my clients, especially first time home buyers, to also do their own research. The US Department of Housing and Urban Development’s (HUD) website can serve as a good primer. It has a wealth of information about closing costs for the state of New Jersey as well as other states. Are some of these costs negotiable or avoidable? Yes. Keep in mind, though, that although closing costs may seem high, they provide buyers with a lot of peace of mind. I review each of the costs, line by line, with my clients in advance of the closing so that they understand the value they are getting for the money they are spending, and to avoid last minute surprises.

More information about closing costs.

Common costs associated with a home closing:

  • Legal and Title: Attorney fees, Title Search, Title Insurance, Recording Fees, Survey
  • Mortgage Costs: Appraisal, Application Fee, Private Mortgage Insurance (if down payment is less than 80% of purchase price), Points (a fee to ‘buy down’ interest rate on mortgage, usually 1 point equals $100,000)
  • Inspection Costs: General, Radon, Termite, Septic, etc.
  • Other Costs: Prepaid Home Insurance, Warrantee (if applicable), Flood Insurance (if applicable), Pre-paid Property Tax, Mansion Tax (homes over $1,000,000)

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Download a pdf that breaks down a list of closing costs

Ranked Top 1% of all New Jersey Realtors*
Ranked #8 out of over 16,000 agents in Garden State MLS for 2016

New Jersey Realtors(R) Circle of Excellence 2007-2016-Platinum Award past 4 years highest level awarded*

Real Trends “America’s Best Real Estate Agent” Award by Zillow and Trulia for 2014 - 2016*

*per GSMLS 2016​ ​
"Each Office is Independently Owned and Operated"