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WELCOME TO LivingNewJersey.com
Your Home Page For Information On:
Montclair, Glen Ridge, West Orange, Verona, Clifton, Passaic and New Jersey Real Estate!  YOUR HOME IS JUST A CLICK AWAY!!
Search everything the web has to offer, right here! We can also give you access to THE HOME BUYER'S SCOUTING REPORT. A private website just made for buyers and sellers. Access the properties available to realtors. Set up, change, and control your own search parameters. Receive up to the minute updates on your favorite properties. Get monthly reports on homes sold in your search areas. Don't miss your dream home. Need local real estate information for Northern New Jersey? We've summarized much of what is important about the Montclair, Verona and Clifton, and the surrounding areas real estate market on our sites. Need expert advice? No web site, large or small, can take the place of a top real estate agent. Not even ours! This site is filled with ways that you can contact us for one-on-one expert help and advice. That's our job. Contact us with confidence! We guarantee your privacy will be respected. And we offer the services of our site for free and without obligation. Why? We want to be YOUR real estate agents. As your trusted, professional real estate partners, we will help you find the best home in your area within your price range. And together we will sell your home, for as much as the market will bear, and as quickly as possible. Buying and selling a home is one of the biggest events in your life. As top Montclair, Verona, Clifton, and Northern Jersey real estate agents, we have the experience and track record you are looking for. Please let us help. - Gianna Botbyl and Roy Castro
First Time Buyers >The Seller May Pay
The costs of buying a home may be daunting. For example, you may have finally saved enough for a down payment on your first home, with a little left over to buy the furniture you will need. Then you hear about having to pay closing costs you weren't anticipating, and this may seem like a real setback.
One way to cover such a shortage is to make the sellers an offer that calls for them to credit you for some of the closing costs. As a rule, the sellers may pay a maximum of 3 percent of the sales price if the buyer is putting five percent down. If the buyer is making a down payment of 10 percent or more, the seller can contribute up to 6 percent of the sales price to cover the buyer's closing costs. Some items, such as prepaid taxes and the first month's mortgage payment, must be paid by the buyers. Sellers may also contribute to paying the appraisal, points, title insurance, settlement attorney fees, state or local transfer taxes and similar items.
Keep in mind that if the credit is included in the price of the house, the appraiser will have to justify the amount, based on sales prices of similar homes in the neighborhood.
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| Q |
What is an encumbrance against a property, which may be voluntary or involuntary?
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| A |
There are many different kinds of liens: a tax lien, a judgment lien, a mortgage lien, and a mechanic's lien. |
 See More Real Estate Trivia > |
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