Lois Fein & John Schwartz - Sales Associates, Friedberg Properties, Englewood Cliffs, NJ
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Information for Buyers

The Buying Process

Our Buyer Services
 
Before you begin:
 
  • Select an agent who knows your area of choice.
  • We have in-depth knowledge of the areas we serve.
  • Learn more about the communities in your price range.
  • We can give you detailed neighborhood information.
  • Describe your requirements.
  • We can help you set priorities.
  • Request a copy of the National School Report.
  • We have information on public and private schools.
  • Get pre-approved for your mortgage.
  • We can refer you to knowledgeable lenders who may suggest options that you might not have known were available.
Selecting a home:
 
  • View homes that most closely fit your needs.
  • We will suggest those homes that meet most of your requirements.
  • Understand current market trends.
  • We can give you detailed information on the price, condition and terms of sale on homes recently sold so you can structure an offer.
  • Submit a written offer on the home of your choice.
  • When you give us the written offer we can present and negotiate that offer with integrity, demonstrate your ability to obtain financing, and advance the merits of your offer.
  • Accompany your offer with a fully-refundable earnest money deposit.
  • We will place your earnest money deposit in our trust account.
After your offer is accepted:
 
  • Select an attorney licensed in New Jersey and familiar with local real estate practices to represent you.
  • We will forward your contract to your attorney. After signing, both the buyer and the seller have the right to have the contract reviewed or cancelled by an attorney within the first three business days.
  • Arrange for a home inspection with a qualified inspector.
  • We can give you a list of home inspectors. Sophisticated systems of any kind need to have a separate inspection; we can provide you with a list of specialists.
  • Apply for your mortgage.
  • We can follow up on the progress of your loan.
  • Obtain homeowner’s insurance; get estimates from moving companies; notify utility companies of your move-in date, etc.
  • We will help coordinate all the necessary details from contract to closing.
  • Consider a service contract (Home Warranty) that will help cover the cost of any unexpected major repairs during the first year.
  • We can refer you to a national Home Warranty company.

  • Inspect the home on the day of closing.
  • We will schedule a final walk-through prior to closing.
  • Contact your attorney for closing requirements.

     

Contact Lois & John

Want more information on purchasing a home? Contact us below:

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Information for Buyers

Suggestions to Purchaser

Before signing:

  1. If possible, obtain from the seller the location and condition of any septic system and well.
  2. Make certain that the contract correctly states what personal property, if any, is included or excluded in the sale.
  3. Be aware of any restrictions, conditions or easements affecting the premises.
  4. If there is a mortgage contingency clause in the contract, be certain that the exact details of the mortgage are spelled out and that the requirements of the lending institution are understood. Apply promptly for your mortgage.

After signing contract:

  1. Be fully satisfied as to the physical condition of the premises by hiring licensed/certified inspectors.
  2. When the written commitment is received from your bank, notify your agent.
  3. Discuss with your attorney the process of obtaining an Owners Policy of Title Insurance. The lending institution (mortgagee) may require a title policy insuring the mortgage, but this does not insure the owner.
  4. If you desire a survey (plot plan), or the bank requires one, and one is not available through the seller, your attorney should arrange for a plot plan with a surveyor and notify your attorney of the surveyor's name.
  5. Arrange with your insurance agent for homeowner's insurance, naming the lending institution as first mortgagee.
  6. You will be notified by your agent or attorney of the time and place of the closing. It is normally held in the office of the attorney or title company unless your lender requires the closing at their office.

When closing date has been set:

  1. Notify your insurance agent as to the date of closing and obtain a copy of the pre-paid insurance policy if required by your lender.
  2. Arrange for utilities.
  3. It is a good idea to inspect the premises immediately prior to closing.

At the closing:

  1. Obtain a bank or certified check for the balance of the purchase price. Have the check made payable to you for appropriate endorsement at the closing. Bring personal checks for any adjustments, bank charges and attorney's fees.
  2. The purchaser is responsible for recording the deed, the mortgage, and the cost of the title search. These funds will normally be billed to you as a disbursement, at the closing.
  3. Mortgage documents must be signed by all the parties taking title and their attendance at closing is required.
Friedberg Properties & Associates
Lois Fein & John Schwartz • Sales Associates
Friedberg Properties & Associates (real estate agency) • Englewood Cliffs Office
610 Palisade Avenue, Englewood Cliffs, NJ 07632
201-568-1818 • Res.: 201-224-0940
Lois’ Cell: 201-741-2175 • John’s Cell: 201-906-8756
•
Available 7 Days a Week!

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