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Are you contemplating purchasing your new home in Needham? Louis Wolfson & Co. can help.

Purchasing a home is intimidating for many people, but with a little up-front planning, it's not that difficult. So they'll understand exactly what to expect, I like to provide buyers with an outline of the entire deal. These are my nine steps to buying a home. Should you have questions regarding any of this information or if you're ready to get started, simply contact me here or e-mail me at .

Step 1 – Prepare to buy a home
There are plenty of things you should do prior to beginning your home search. You'll most likely want to make an outline of items you want to have, plan for what school districts you'd like to live in, and begin working on your budget. Ensuring your mortgage payment is less than or around a third of your net monthly income is a good guideline to follow.

Step 2 – Talk to a real estate agent
This is where Louis Wolfson & Co. can help. We can arrange a time to meet so we can talk 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 might affect your purchase today or in the future.

I'll also help you get started on your loan. Louis Wolfson & Co. works with some of the best mortgage professionals in Needham, so you can rest assured that you're in great hands. They'll help you determine which kind of loan is best for you, as well as help you get approved.

Step 3 – Start house-hunting
After we meet, I'll begin searching for homes on the market that meet your needs. I'll research many of the houses and remove the duds, and then we'll schedule appointments to tour the homes at a time that's convenient for you.

As we tour the homes, I'll call attention to good features, as well as negative ones. And I'll ask you about things you like and don't like. It's pretty common for buyers to amend their must-have list as we tour houses and some features become more necessary than others. If such is the case, I'll look through all the listings again and narrow it down to the home you've been waiting for.

Step 4 – Get a grasp of the housing market
My understanding of the Needham housing market is a necessary component in your home search. I am familiar with all the neighborhoods and schools, and I can let you know some areas are "hot" and warrant prompt action and the ones that are "cool" and allow for thoughtful analysis.

As we view houses, I'll let you know when the asking price has room for bargaining and also when I think the home is "priced to sell." When working with an agent, be mindful and be sure to ask plenty of questions, as every real estate agent in Needham will claim to comprehend the housing market. If things don't add up, call me at (617) 799-3326 or e-mail me at , and I'll be happy to answer any questions you may have. My market knowledge will help you stay a step ahead through the entire deal.

Step 5 – Find the house of your dreams
I'm positive we'll find the house of your dreams in the Needham area. When we do, I'll meticulously create your real estate purchase offer. The offer will be tailored keeping your needs in mind and the home, including a lot of contingencies, such as acquiring financing, carrying out the inspection, and a clear title.

When we send in your offer, most likely you'll need to submit "earnest money." This is a cash deposit made to a seller to secure the offer to buy the property, and it's typically applied to the closing costs. If the offer is accepted by the seller, we should close on the property about 30 to 60 days after. This allows enough time for your mortgage financing.

Step 6 – Negotiate
A lot of contracts don't close on the initial offer – it's extremely common to receive a counter offer. Don't let this discourage you. We'll figure out whether or not to take the counter offer, propose our own counter offer, or decline the seller's offer and go on.

How aggressively we negotiate the contract depends on market conditions. We'll also work within your financing limits. And when it's all said and done, we'll compose a deal that works well for you.

Step 7 – Get financing
Once the contract is finalized, you'll begin working with your lender to close the loan. It shouldn't be a long process at all if you've been pre-qualified, but you need to stay in close contact with your mortgage lender. And I'll take care of all the property information your lender needs to close the loan.

Step 8 – Close the deal
You'll get a Loan Estimate (LE) of closing costs from your lender within three days of taking your application. This estimate is based on the loan amount, and RESPA requirements order that it has to involve all closing costs and be within a precise range of accuracy. I'll go over the estimate and let you know if it all looks permissible.

Then we'll close on your home. This will likely happen at a title company or escrow office and is often a smooth and relaxed occasion.

Step 9 – Move in
Congratulations! It's time to move into your new house. Enjoy it. And if you need anything or have any questions, make sure you call me at (617) 799-3326 or e-mail me at .

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