How buying a home works in New Jersey, step by step

Before you make an offer

Agents who use the MLS need a written buyer agreement before touring homes with you. A lender’s pre-approval shows sellers you can finance the purchase and tells you your realistic price range.

Offer, contract and attorney review

When a real estate licensee prepares the sales contract for a one-to-four-family home, New Jersey allows a three-business-day attorney review period after both sides receive the signed contract. Weekends and legal holidays don’t count. During it, either side’s attorney can disapprove the contract or propose changes; afterwards the contract is binding on its terms.

Inspections and repairs

The contract sets an inspection period. Buyers commonly order a general home inspection and, depending on the home, radon, wood-destroying-insect, oil-tank or septic inspections. Findings can lead to repair requests or credits, or to cancellation if the contract allows it.

Mortgage commitment and appraisal

Your lender orders an appraisal and reviews your file. Once its conditions are met, it issues a mortgage commitment, which your contract usually requires by a set date.

Title, final walk-through and closing

A title search and title insurance protect your ownership. You do a final walk-through shortly before closing, where funds and documents are exchanged and you receive the keys.

Who typically pays what

Buyers usually pay lender fees, title search and insurance, their own attorney, and initial escrow for taxes and insurance. Sellers usually pay the Realty Transfer Fee, their own attorney, their mortgage payoff and the brokerage compensation they agreed to. Sales above $1 million also owe a graduated State fee whose rules changed in July 2025 — your attorney confirms the current rules and who pays. Everything else is negotiable in the contract.