1. Check your credit
  2. Assess your down payment
  3. Speak to your mortgage broker
  4. Obtain a pre-approval letter from mortgage broker
  1. Look at homes
  2. Decide on location
  3. Decide on size i.e. multi/single family home

–be a frequent shopper so that you can know the market. (Remember, if you go to an open house, to let the selling agent know that you already have your own agent.)

  1. Put an offer on written contract form

–You have 3 days to back out without an attorney


–Within 3 days, attorney must send out attorney review letter

Once both attorneys agree, all inspections must be done quickly

  • Home inspection, Termite, Radon, and Oil tank inspections
  • After inspections, attorneys will discuss issues and resolve any and come to an agreement. If inspections are unsatisfactory you can terminate the deal.

Fully apply for mortgage and submit all necessary documentation


Mortgage company will send out appraiser at your expense to appraise value of home. Generally, they will only loan 80% of appraised value.

Lawyer will order Title & Survey (you will pay for this with closing costs)

  1. Mortgage commitment-bank will issue commitment with certain specifications which you must fulfill
  2. Check and order homeowner’s insurance

The night before or the day of the closing the realtor and buyer walk through the property to determine if the property was left in satisfactory condition

If property is being mortgaged, the buyer needs a cashiers check with an amount provided by your attorney. Keys are exchanged at the finish line finally! After closing the buyer needs to set up utilities in their name. PSEG