absolutely! you must give a "good faith" deposit to show you are motivated and have the financial means to move forward should the bank agree to the terms. In New Jersey the money must be deposited into an escrow account within three business days of the check date. Either your attorney or the agent can hold the funds.
If you'd like, our company sets up agent referals for you. I can send you three (or more if need) agents from all different brands that market homes in Somerset and you can choose on your own. We also provide you with a transaction assistant free of charge to work with you throughout the selection and marketing process to make sure your getting the service you need. Please don't hesitate to contact me directly should you need assistance or fill out our form on www.justjerseyrealestate.com
In New Jersey, an agent is someone who completes a 75 hour course in real estate, passes the agent exam and works under a Broker. A Broker is someone who completed three years as a full-time agent , takes 130 course hours on ethics, law and office management, then pass the broker's exam. After being granted a Broker's license, they may (if they wish) open their own office or remain under another broker as an associate broker or broker/sales person. The two are held to different standards of practice based on their knowledge and expertice. As a Broker you are responsible for the agents under you as an agent you are responsible for yourself only. Hope that helps...
Here are some basics of the credit as reported by Diane Dilzell, NJAR
President in NJ Realtor Magazine this week:
* A person is considered a first-time buyer if he/she has not owned a
home in the three years prior to the date of the 2009 purchase.
* The home purchased must be used as a principle residence.
* The tax credit is equal to 10% of the purchase price up to a maximum
of $8,000.
* The full credit is only available to individuals with an adjusted
gross income of less than $75,000, or a married couple with incomes under
$150,000.
* For those filing individually whose adjusted gross income is $95,000
and those filing jointly whose adjusted income is $170,000, the tax credit
phases out.
* Buyers must live in the residence for three years or else they are
required to pay back the full amount of the credit.
As an added incentive, borrowers who obtain a mortgage through the New
Jersey Housing and Mortgage Finance Agency's Home Buyer Program can
participate in the Tax Credit Loan Program (TCLP). Through the TCLP, buyers
can get a loan of up to $5,000 that is secured by their anticipated federal
tax credit. They can use the extra money toward the down payment or closing
costs, not accrue any interest and pay it back once they get the credit from
the government.
If you're ready to speak to a REALTOR in NJ don't hesitate to contact us to
help you find a local agent-our services are always free...
BOOKS ABOUT NEW JERSEY... From hiking to history, from the pine barons to the mountains, bird watching to the best beaches. It's all available here at Just Jersey. http://astore.amazon.com/wwwjustjercom-20
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