Selling Process

New Jersey Home Selling Process

1. Consult With a Real Estate Agent
   Meet with a real estate agent to discuss the condition of your home, your selling objectives, and the expected timeline.

2. Determine the Listing Price
   Analyze recent comparable sales and current market conditions to establish an appropriate listing price.

3. List and Market the Property
   Promote the property through the MLS, Zillow, the RE/MAX network, online advertising, and other marketing channels.

4. Open the Property for Showings
   Use open houses, a lockbox, and scheduled showings to make the property easily accessible to prospective buyers.

5. Review and Negotiate Offers
   Compare and negotiate the offered price, contract terms, earnest money deposit, financing conditions, closing date, and other contingencies.

6. Prepare and Sign the Sales Contract
   The terms agreed upon by the seller and buyer are included in the real estate sales contract, which is then signed by both parties.

7. Attorney Review
   The attorneys for both parties generally review and revise the contract over a period of approximately three to five business days.

8. Deposit the Earnest Money
   The buyer deposits the agreed-upon earnest money into the seller’s attorney’s escrow or trust account.

9. Home Inspection
   The buyer inspects the property for its general condition, termites, radon, and other possible issues. If necessary, the buyer may request repairs or a credit.

10. Appraisal and Mortgage Approval
    The lender orders an appraisal of the property and completes the buyer’s final mortgage approval process.

11. Title Search
    A title search is performed to review the property’s ownership, unpaid taxes, mortgages, liens, restrictions, judgments, bankruptcy filings, and other title-related matters.

12. Prepare for Closing
    The seller confirms the payoff amount for any existing mortgage and prepares for moving, terminating utility accounts, and completing other closing requirements.

13. Municipal CO or CCO Inspection
    The municipality may inspect the property for compliance with fire-safety, building-safety, and other local requirements before issuing the required Certificate of Occupancy or Continued Certificate of Occupancy.

14. Review the CD and ALTA Settlement Statement
    Review the Closing Disclosure and ALTA Settlement Statement to confirm that the sales proceeds, mortgage payoff, taxes, real estate commissions, and other closing expenses are accurate.

15. Deliver Keys and Access Information
    Provide the house keys, garage-door remotes, entry codes, and other access information to the seller’s attorney or as otherwise directed for closing.

16. Closing
    The seller signs the required closing documents, ownership is transferred to the buyer, and the sale is completed.