Purchasing your home in Needham
Buying a home is a stressful event for a lot of people. However, with a bit of up-front planning, it's not very difficult.
So they understand exactly what to expect, I will furnish buyers with an overview of the entire deal.
These are my nine steps to buying a home.
When you're ready to get started, simply contact me here or e-mail me at . I'm glad to answer any questions you have about this information.
Step 1 – Prepare to buy
There are several things you should do before starting your home search.
You'll most likely want to make an index of features you want to have, get a plan of what neighborhoods and school districts you want to live in, and start planning your budget.
A good principle to adhere to is that your mortgage payment should be around a third of your net monthly income.
Step 2 – Connect with a real estate agent
This is where I come in.
I'd love to schedule a time to get together with you and communicate with you about why you want to buy a home and get an idea of your upcoming plans.
We'll talk about neighborhoods, schools in the Needham area, the mortgage industry, and any additional economic factors that could affect your purchase today or in the future.
In addition, I'll assist you with getting started on your loan.
There are some great mortgage professionals in Needham, and I work with a lot of them, so you'll be in great hands.
They will assist you in determining which kind of loan is best for you and help you get approved.
Step 3 – Begin looking for a home
After our initial meeting, I'll begin looking for homes on the market that suit your needs.
I'll get a sneak peek of many of the houses and ignore the bad ones, and then we'll book appointments to tour the houses when it's convenient for you.
When we tour the homes, I'll show you the good features, as well as negative ones. And I'll ask you about things you like and don't like.
As a rule, buyers amend their list of must-haves as we view houses and some things become more essential than others.
If that's the case, I'll look through the listings once more and narrow it down to the home of your dreams.
Step 4 – Know the housing market
My knowledge of the Needham home market is a fundamental agent in your house search. I am informed of all the school districts and neighborhoods, and I can alert you to certain districts are "hot" and warrant prompt action and some that are "cool" and allow for more analysis.
As we view houses, I'll make sure to communicate if the list price has room for negotiation or if I believe the house is "priced to sell."
When working with an agent, trust your instincts and make sure you ask plenty of questions, as every REALTOR in Needham will claim to understand the market.
If it appears they don't know everything, call me at (617) 799-3326 or e-mail me at , and I'd be happy to answer your questions. My market knowledge will keep you a step ahead throughout the entire deal.
Step 5 – Find the home you've been waiting for
I'm certain we'll find the house of your dreams in the Needham area. When that happens, I'll carefully create your real estate purchase offer. The offer will be tailored with your needs in mind and the home, including a lot of contingencies, such as acquiring financing, completing the inspection, and a clean title.
When submitting your offer, you'll need to submit "earnest money." This is a cash deposit submitted to the home seller to secure the offer to purchase the property. The amount is most often applied to the closing costs. If the seller accepts the offer, we should close on the property about 30 to 60 days after. This allows ample time for your mortgage financing.
Step 6 – Negotiate the deal
Unfortunately most deals aren't closed on the first offer, and it's very common to receive a counter offer. But don't let this alarm you. We'll talk over whether or not to consent to the counter offer, submit our own counter offer, or refuse the seller's offer and go on.
The state of the market determines how aggressively we negotiate the contract.
We'll also work within your financing constraints. And when it's all said and done, we'll create a deal that is best for you.
Step 7 – Get your loan
Upon completing the deal, you'll start working with your mortgage lender to close the loan.
It won't take long at all if you're already pre-approved, but you'll want to keep in close contact with your mortgage lender.
And I'll deal with all the property information your lender needs to close the loan.
Step 8 – Close the deal
You'll get a Loan Estimate (LE) outlining closing costs from your lender within three days of accepting your application.
The estimate rests on the loan amount, and RESPA requirements dictate that it has to include all closing costs and be within a narrow range of accuracy. I'll go over the estimate and let you know if it all looks okay.
Then we'll close on your house. This will most likely take place at a title company or escrow office and should be a smooth and relaxing affair.
Step 9 – Move in
Congratulations! Now you can move into your new house. Enjoy it. And if you have any questions, make sure you contact me at (617) 799-3326 or e-mail me at .