06/18/2026
3 Important Things to Know When Buying or Selling a Home
1️⃣ Attorney Review Matters
In New Jersey, the contract is not fully binding right away. During the attorney review period, both parties can make changes, and the seller may continue considering other offers. Once attorney review is completed, the contract becomes binding for both the buyer and seller.
2️⃣ Home Inspections Are the Buyer’s Right
After the contract is finalized, buyers typically hire licensed inspectors to evaluate the property’s condition. This is done regardless of any disclosures provided by the seller. Inspection rights and contingency terms are usually negotiated and included as part of the offer.
3️⃣ Appraisal Impacts Financing
If the buyer is obtaining a mortgage, the lender will order an appraisal. The appraiser is an independent professional who determines the property’s value based on recent comparable sales. The appraised value can affect the buyer’s loan amount and financing approval.
Understanding these three steps can help both buyers and sellers navigate the transaction with greater confidence and fewer surprises.
Start with clarity. The process becomes much easier when you know what to expect.
Message me if you are a first time buyer in New Jersey