New Jersey Short Sales A short sale transaction occurs when the value of the property is less than the amount you owe on a mortgage. For example, if you owe $500,000 on a mortgage and the value of the property is $300,000, you can submit an application to your lender for the lender to acceptRead More
Do sellers need a certificate of occupancy? One of the responsibilities of a seller when they make the decision to sell their home is to obtain a certificate of occupancy and a smoke detector and carbon monoxide certificate prior to closing. Those are two separate inspections. The carbon monoxide and smoke detector certificate is completedRead More
Why do I need a home inspection? In a real estate transaction, I always recommend that the buyer does a home inspection, a termite inspection, a radon inspection, and an underground storage tank inspection before the closing is finalized. The home inspection is to determine if there are any defects in the home, whether theyRead More
What is the mortgage process for a buyer? The mortgage process is one of the most important and time-sensitive issues in a real estate transaction. Once the contract is finalized, you should select the lender, file an application, and request that the appraisal be completed at the property. Most mortgage contingency clauses in a contractRead More
