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Get a thorough home inspection before you buy real estate and get one before you pay for an appraisal just in case the inspection reveals something so major you decide against buying the property.
The number of homes on the market in NJ is 35% lower than last year which is continuing to push home prices higher.
Never use a seller’s asking price as a gauge of market value for a property. A property owner may request any price for his property-this may or may not be anywhere near market value. The current market value of a residential property is based primarily on what a similar property has sold for in the last 6 months.
Only 1.4% of homes in the US changed hands this year, which is the lowest level in a decade.
Always ask to see any existing leases for any rental property you are considering for purchase. If you buy the property, you will be subject to the terms of those leases. Make sure the leases match the seller’s representations.
The number of homes on the market in NJ is 36% lower than last year which is continuing to push home prices higher.
