Tips for First Time Home Buyers in Monmouth County, NJ

If you’re in the market to buy a home for the first time in the Monmouth County, NJ area, you’re probably wondering where you should start. After all, there are many steps to the home buying process so you’ll want to make sure that you’re covered in all fields. Because buying a home in Monmouth County can be overwhelming, I have constructed this article below to help guide you through the process!

First Time Home Buyers in Monmouth County | Tips for Buying Your First Home in Central NJ

Step 1 would be getting in touch with a mortgage lender to figure out what the right price point is for you.

While speaking to the mortgage lender of your choice, you’ll be giving him/her some information about yourself and your income or maybe even some assets you may possess. You will also discuss any debt you may potentially have. Once all this information is processed and the mortgage application is completed, you’ll have what’s called a “Pre-Approval or “Pre-Qual”. This is a document that shows on paper what you can realistically afford and is used when submitting offers on your new home.
Step 2 would be finding the right Monmouth County Real Estate Agent.

You’re going to want an Agent you feel comfortable and confident with. You need to have trust in your Agent, they will be negotiating and representing you during your upcoming transaction. It’s very important for your Agent to be well versed in changing markets as well. A real estate agent who’s well versed in changing markets knows how to navigate the deal flawlessly and negotiate accurately on your behalf.
1st time home buyer monmouth county nj

Step 3 would be finding the perfect home for you and your family.

Once you obtain a reliable Real Estate Agent in Monmouth County, it’s time to hit the pavement. Your Real Estate Agent should be sending you listings daily based on your criteria. When you see a listing that catches your eye, let your Agent know that you’d like to schedule a private showing, they should schedule it immediately. So, let’s say you go look at the home you picked out with your Agent and you like it and think you want to move forward with the purchase, what’s the next step?


Step 4 is going to be submitting an offer.

Tell your Monmouth County real estate agent that you’d like to submit an offer on the property. Your agent should quickly start preparing all of the legal documents/contracts required to do so. After this, you’re going to have some pretty straight forward paperwork to fill out and sign. I strongly advise that you  thoroughly read these documents. They’re long and can even be intimidating but there’s very important information inside. Once the documents are filled out in full, it’s time for your Agent to send your offer to purchase over to the sellers Agent to discuss with the sellers. Now, Let’s hypothetically say your offer gets accepted, Hooray! What’s next?


Step 5 is obtaining the right Real Estate Attorney.

Usually, your Monmouth County real estate professional will have a recommendation but it’s your right as a buyer to choose whichever Real Estate Attorney you please. Your Attorney should always be looking out for your best interest during the entire transaction. Make sure to do your homework on the Attorney you choose, they can make or break the deal.

Buying a House in Monmouth County NJ
Step 6 is the “Inspection period”. This is when a home inspector comes to inspect the house you’ll be purchasing through and through. They inspect for mold, radon, foundation issues, water damage, wood rot, and much more. Chances are your real estate agent has a Home Inspector recommendation as well but if not, make sure to do your homework on the Home Inspector of your choice as well. The Home Inspector plays a very important role in your home buying process too. A bad Inspector can lead to spending lots of money and unanticipated home repairs down the line.
Step 7 is going to be the Appraisal. This is when a designated Appraiser comes out to make sure the home that you’re purchasing is actually worth what you’re about to pay for it. Let’s say the home passes appraisal, then you’re golden with nothing to worry about. What if the house doesn’t pass appraisal, what now? Well now, you can either come out of pocket to compensate for the difference in value or renegotiate the purchase price. Hoping that all went well, You’re pretty much done with the purchase process!

The next step, Step 8 is the closing. 

This is when You’ll meet in the Monmouth County Real Estate Attorneys office to sign your last stack of paperwork. Once that’s done, the home is now legally yours and you’re free to go enjoy your new place!

Are You a First Time Home Buyer Looking to Buy a Home in the Monmouth County, New Jersey Area?

If you’re a 1st time home buyer looking looking into buying a home in Monmouth County, NJ Gianni Agosta is an experienced and personable Monmouth County real estate agent who is here to help! I am here to guide you through every step of the way!. As a local real estate agent, I have personal hands-on experience with real estate in Monmouth County in towns including: Matawan, Freehold, Manalapan, Tinton Falls, Rumson, Red Bank, Middletown, and many more in surrounding areas! For more information, you can call me at (347)466-0041 or contact me here.