For Buyers · New Jersey & Pennsylvania
The Buyer’s
Complete Guide
Everything you need to know about buying a home in New Jersey or Pennsylvania — from first steps to closing day. Written by The JK Realty Group after 20+ years and 600+ transactions.
Step 1: Get Pre-Approved
Before You Shop
The single most important step before looking at homes is getting a mortgage pre-approval — not a pre-qualification, but a full credit-checked pre-approval from a licensed lender. In today’s South Jersey market, where well-priced homes in Gloucester County, Burlington County, and surrounding communities frequently receive multiple offers within days, sellers will not consider a bid without proof of financing.
Pre-approval tells you exactly how much home you can afford, locks in your interest rate window, and shows sellers you are a serious buyer. Work with a local lender who knows the NJ and PA market — your agent can recommend trusted partners with strong closing records.
NJ Tip: New Jersey uses attorneys for real estate closings. Budget for attorney fees ($1,000–$1,500 typically) in addition to standard closing costs. Your agent will help you understand the full cost picture before you make an offer.
Step 2: Define Your
Priorities and Markets
South Jersey and southeastern Pennsylvania offer an extraordinary range of communities — each with distinct character, school districts, commute profiles, and price points. Before you begin touring homes, be clear about your non-negotiables: school district quality, commute time, lot size, proximity to amenities, and your five-year vision.
Our town pages cover every municipality in 13+ counties with school district information, commute times, and community character. Use them to narrow your focus before you spend time touring homes that don’t fit your criteria.
Step 3: Working With
Your Buyer’s Agent
As of August 2024, all buyers working with a licensed NJ real estate agent must sign a written Buyer Representation Agreement before touring homes. This agreement formalizes the relationship and outlines compensation. The JK Realty Group will walk you through this clearly before we begin working together.
Your agent’s job is to represent your interests exclusively — not the seller’s. This means full MLS access, off-market intelligence, negotiation strategy, inspection guidance, and advocacy from first offer through closing. Representation is free to buyers in most transactions; compensation is typically paid by the seller.
Per N.J.A.C. 11:5-6.4, your agent is required to provide a Consumer Information Statement before entering into an agency agreement. This explains your rights as a buyer client. We provide this document at our first meeting.
Step 4: Making an
Offer That Wins
In competitive South Jersey markets — particularly Mullica Hill, Sewell, and Washington Township — well-priced homes move quickly. A strong offer is about more than price. Escalation clauses, flexible closing dates, minimal contingencies, and clean contract terms all matter. Your agent will guide you on offer strategy based on specific market conditions at the time of purchase.
New Jersey contracts include standard contingencies for home inspection, mortgage financing, and attorney review. The attorney review period (three business days after signing) allows either party’s attorney to modify or cancel the contract without penalty.
Step 5: Inspections,
Appraisal & Title
After an accepted offer, the transaction enters the due diligence phase. A home inspection ($400–$600 typically) examines the property’s condition. For homes with wells and septic systems — common in rural Gloucester, Salem, and Burlington County communities — additional inspections are standard. Radon testing is strongly recommended throughout New Jersey.
Your lender will order a property appraisal to confirm the home’s value supports the loan amount. A title company will conduct a title search and provide title insurance. NJ closings are handled by attorneys — both buyer and seller are typically represented.
Step 6: Closing Day
& Keys in Hand
New Jersey closings typically take 45–60 days from accepted offer to closing. At closing, you will sign the final loan documents, pay closing costs (typically 2–4% of the purchase price for buyers), and receive the keys. Your agent will be present to ensure the process is smooth.
Closing costs in NJ include title insurance, attorney fees, recording fees, prepaid property taxes and insurance, and lender fees. Pennsylvania has similar costs but different transfer tax rules — PA imposes a 2% realty transfer tax split equally between buyer and seller in most transactions.
- Step 1: Get Pre-Approved
- Step 2: Define Your Markets
- Step 3: Buyer’s Agent
- Step 4: Making an Offer
- Step 5: Inspections & Title
- Step 6: Closing Day