Are you thinking of selling your home in New Jersey? The home selling process can seem overwhelming, but with the right knowledge and little guidance, you can make the process as smooth as possible. Let’s take a look at the steps involved in selling a home in New Jersey.”
“Step 1: Hire a real estate agent.
“The first step in selling your home in New Jersey is to hire a real estate agent. At the 1906 Property Group, we do things a little different. Let us put our decades of experience to work for you! We will do a complete market analysis and explain ALL your options, with us you can decide if and how you would like to move forward. That is decision #1 and entirely up to you. So, what are your options? You may be interested in a quick sale. We have a network of investors that are ready to make an offer on your house, allowing you to just walk away in a little as just a few weeks or less. You could market and sell your house traditionally as most people do, let us show you how we use the power of Coldwell Banker to sell your home. We will walk you through out listing process to help you determine the right price for your home, create a marketing plan, and guide you through the selling process, or perhaps you are looking to move and prefer not to sell, we have you covered there as well. Let us walk you through our property management offering. We can take care of the tenant placement, home maintenance, service calls and everything else, so you can comfortably watch your investment grow.
“Step 2: Prepare Your Home for Sale.”
“If you decided to put your home on the market, we can guide you through the steps to prepare it for sale. We can provide valuable insights and experience that will help you sell your home quickly and for the best possible price. This may include cleaning, decluttering, easy fixes, giving the house a little sparkle maybe by a fresh coat of paint, or removing very worn carpet, or maybe a fresh layer of mulch to spruce up the landscape outside. We can discuss staging your home to make it look its best. On the paperwork side, you want to make sure there are no open permits with the town or any liens on the house that would interfere to the transfer of title. You will need to fill out a seller’s disclosure statement (not required by law but a red flag for a buyer if there is none, and lead paint form (this IS required my law in NJ). You will also want to discuss with your agent what items in the house are staying with the house and which are not. (The rule of thumb here is anything “attached” to the house is expected to stay and anything not attached is expected to be removed.) Being thorough here is important. Don’t assume anything. (The thing I see most often that gets missed is a special light fixture or chandelier that you wanted to keep and didn’t identify.)
“Step 3: Marketing and Advertising Your Home.”
“Once your home is ready for sale, we will create the marketing materials and advertise your home to potential buyers. This includes hosting open houses, private showings of your home to interested buyers, and listing your home on the MLS and various online platforms like Zillow and Realtor.com to get the most exposure possible. We even include a YouTube video with paid advertising.”
“Step 4: Negotiating the Sale.”
“When a potential buyer makes an offer on your home, we will work together with you will review and evaluate the offer and negotiate the terms of the sale. This includes the purchase price, closing date, financing details, and any contingencies that may be included in the offer.” Both parties will sign the contract and it will then be sent to the attorney’s to begin the attorney review process.
“Step 5: Attorney Review
In New Jersey, it’s common for home sellers to work with an attorney during the home selling process. Once you accept an offer, you’ll enter into an attorney review period where your attorney will review the contract, negotiate any legal terms, and ensure your rights are protected. After the attorney review period, the contract will be finalized, our term for this is “Under Contract” making the agreement legally binding. At this point you can expect the closing to be in 30 to 45 days usually. The closing timeline will be outlined in the contract. Understand that during the attorney review period, you are NOT under contract. Either side my back out with no explanation given. (Seller my get a better offer, buyer may elect to by a different house, etc)
Step 6: Home Inspection.
Assuming the provision is in the contract, (and it usually is), you can expect the buyer to get a home inspection. A qualified home inspector will assess the property’s condition, including its structure, systems, and potential issues such as mold or pests. Based on the inspection report, the buyer may request repairs or credits from you, the seller. You still have control here, if repairs or credits are requested you have the right to accept, deny, or negotiate the request.
Step 7: Certificate of Occupancy and/or Fire inspection.
Traditionally these are the responsibility of the seller. Every town has different rule on a Certificate of Occupancy. Some towns require one and some don’t, and what is expected in the towns that do require them varies. It is impossible to provide a blanket statement on what is needed. We can help you understand what is needed in your town and what the process is to get it. A Fire certificate is required by state law, and we can help you understand what kind and where smoke alarms, carbon monoxide detectors, and fire extinguishers need to be.
Step 7: Appraisal
Once you are in contract and the buyer has submitted all their paperwork to their mortgage company. The bank will order the appraisal. This is generally required by the bank to ensure the property’s value aligns with the purchase price.
Step 8: Title
The buyer’s attorney will order a title search. “Title work is a critical step in the home buying process. A title company will conduct a title search to ensure there are no outstanding liens, judgements or ownership disputes on the property.
Step 9: Closing Day!
Congratulations! You’re almost there. Two things happen on closing day.
Most sellers are out of the house days before closing but you will need to be completely moved out of the house before the final walkthrough as this is the last opportunity the buyers will have to make sure everything is as expected, the house is clean, any repairs agreed to where addressed, and nothing out of the ordinary has happened to the house since they were in it last.
The closing is the final step in the process in New Jersey. The closing table is where the buyers, perhaps both attorneys, (although the sellers attorney is often not there) will come together with a representative from the title company (The Closer) to sign all the necessary documents, including the mortgage, deed, and other closing disclosures. In most cases you will not need to come to the closing, however you will usually will have the opportunity to go to the closing but most sellers take advantage of the opportunity to sign any of their documents beforehand. Your attorney or your agent will confirm the transaction has closed and you will get your proceeds either by wire or check in most cases, whichever you prefer.
“And that’s it! The home selling process in New Jersey may seem daunting, but with the help of a trusted real estate agent, it can be a smooth and successful experience. If you’re ready to sell your home, reach out to us to guide you through the details of the process.”
