Wednesday, April 18, 2012

Closing on your Millburn-Short Hills home

You've done your research, you've saved up a chunk of money for a down payment, you've been approved for a mortgage, you've gone to what feels like a thousand open houses and you've finally found "the one"--the perfect home for you in Millburn-Short Hills, NJ.  Congratulations!  But guess what?  There's still more to do!

Ask a lot of questions

Remember in elementary school when the teacher would say "There is no such thing as a stupid question?"  It's true.  Everything should be perfectly clear in your mind.  If you are uncertain about anything related to how the process is working, do not feel embarrassed to ask someone.  Call your real estate agent or call your loan officer.  Make sure all details are perfectly clear in your mind so there are no surprises later.

Go on a very thorough walk-through

Many clients are so excited about their new house at this point that they rush the walk-through.  Big mistake!  You don't want to miss anything in the heat of the moment.  Feel free to bring your home inspector back for the walk-through.  If you do not bring an inspector, make sure you have the inspector's report from before and check everything carefully to make sure all repairs were made.  Turn lights and appliances on and off in each room to ensure that they are working.  If something is not in accordance with the agreement, say something immediately.  You will have to decide if it is minor enough that you'll fix it yourself, or if it necessitates working out new terms with the seller.

Review the loan documents in advance

Ask your lender or attorney if you may review the loan documents in advance.  This will help ensure that you understand everything happening and will not be caught off guard at the last minute.  Many people just sign documents on the spot without reading them thoroughly so they can get the keys.  That's a legal contract--you want to make sure you know exactly what it says before you put your name on it.

These are just a few tips for home buyers that I hope you found helpful.  I have more information for Millburn-Short Hills home buyers on my blog.  If you have any further questions about buying (or selling) in Millburn-Short Hills, NJ, please do not hesitate to contact me.  Happy buying!

Elaine Pruzon
Coldwell Banker Residential Brokerage
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