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If I am buying a house in NJ and selling my house in NY, what do I need to purchase the NJ home?
More specifically, if I have a signed contract in NY, is that all I will need to make an offer? Will I need a mortgage committment from the people that are buying my house to show to the people in NJ or is an executed contract sufficient?
1 Answer
- ?Lv 71 decade agoFavorite Answer
No you need a Mortgage approval for the home you wish to buy. NJ is a bit different then NY.
Expect to put 1% down when you sign your contract. then 20% down when you close. You will need to obtain a Continuing Certificate of Occupancy to produce at closing. Some towns the Seller pays and others the buyer pays. Some municipalities require you list every resident of the household.
