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realestateqa.blogs.nytimes.com/2008/09/10/paying-the-mansion-tax-on-1-million-nj-homes/

1. Get pre-approved by a reputable bank or mortgage broker.
2. Make a written offer in the form of a purchase contract. The contract will be submitted with your pre-approval and will include the following information:
   1. Purchase price
   2. Good faith deposit – minimum $1000 check submitted with contract
   3. 10% deposit - due about 2-3 weeks after signing contract (date referenced in contract)
   4. Mortgage amount and 30 day mortgage contingency (date referenced in contract)
   5. Proposed closing date (usually 30-75 days out)
3. Make arrangements to access your 10% deposit monies.
4. Enter into attorney review.
   1. Your attorney will extend the 3 day attorney review period. Review time will vary depending on how quickly the attorneys move, but on average it takes about 5-7 days.
   2. During attorney review, the property can still be shown and either party can back out for any reason without penalty.
   3. The attorneys will send “riders” (amendments to the contract) back and forth and when all terms are agreed upon they will conclude attorney review.
5. Home inspections are set up when attorney review concludes. You will have 10 days to submit your inspection requests. The attorneys will negotiate these requests.
6. Apply for your mortgage when attorney review concludes. If you have a quick closing this should be done earlier.
7. 10% deposit will be due (date referenced in contract) to sellers’ attorney.
8. Bank appraisal.
9. Survey.
10. Title search.
11.  Call for homeowners insurance.
12.  Call utilities with your information.
13. Schedule walk-through day before or day of closing.
14. Close
15. *Buyers purchasing a home of $1,000,000 or more will pay a 1% fee to the State of NJ!