Jersey Shore Home Buyers

Thinking of buying a home? If so, here are 5 tips to help the process become a little smoother…

1. Whatever state you are buying in, research the process before diving in. One way to get more comfortable with your purchase is to understand what happens next, and next and next. If you buy blindly, it could cost you more money because you didn’t understand or know the process ahead of time.
2. If you need to get a mortgage, one of your first steps is to get prequalified. Check with a couple of lenders on their fees that they charge and potential interest rate based on your credit. If you are considering buying a foreclosure or home in disrepair, also have your lender prequalify you for a rehab loan. Some homes may only qualify for a rehab loan if it is in disrepair. This way you are prepared either way.
3. Something to consider- will you be hiring an attorney to represent you or a title company to close you. In NJ, you can do either. In other states, an attorney may be a requirement. If you are hiring an attorney, shop around for their rates and get recommendations of good real estate attorneys. Just like real estate agents or doctors, attorneys will specialize in certain fields and aren’t always knowledgeable about real estate. Get those recommendations from family, friends or your agent.
4. Don’t always rely on the professionals helping you. If you are buying a home and it has a feature you know nothing about, you should do your own homework. If you are going to buy the home, you should know what you are buying. For example, if you buy a home with solar…spend some time learning about solar, contracts vs leases of solar and the qualifying and monthly costs. Septic systems are another big-ticket item you should learn about if you don’t know about the maintenance and costs.
5. Closing costs tend to stump some buyers. Yes, you do have costs to pay at the closing. You might be paying for items like the title search and insurance policy, a survey and/or elevation certificate, points on your loan, attorney fees, a portion of the property taxes for the quarter. In some areas, the water and sewer are provided for by the town. You may have quarterly fees to the town for this. Keep in mind, if the town provides these utilities, these items are also lienable against the property if you don’t pay and the property goes to a tax sale.

These are just a few topics to discuss with your real estate professional. However, they are not the only topics. Stay tuned for more Buyer tips in my future blogs.

Lisa G Lopez

Lisa G Lopez, Broker/Owner of Home Alliance Realty in Manahawkin NJ, is a 25 year veteran of the real estate industry. Born and raised in the LBI Region, Lisa has witnessed the tremendous change and growth that’s transformed the area into one of the Jersey Shore’s most sought-after destinations. Lisa understands the numerous intangible benefits of living on the Jersey Shore with its unmatched natural beauty and quality of life. Lisa has an MBA with a concentration in marketing from Stockton University and also holds a Broker's and real estate instructor's license. A self-proclaimed “Technophile”, Lisa embraces the newest and brightest in technologies and keeps pace with the latest real estate trends. Lisa’s passion for real estate is evident by the numerous awards and certifications she’s received over the past 25 years. In 2018, she received the prestigious Certified Real Estate Brokerage Manager (CRB) designation, the premier brokerage management credential in the industry. Since 2002 Lisa has achieved The Circle of Excellence Sales Award and in 2016-2018 was awarded The Circle of Excellence Sales Award Platinum level for sales in excess of $20 Million. Lisa’s exceptional knowledge of real estate coupled with her intimate knowledge of the market is what makes her the unequivocal go-to resource for all your real estate needs.