Let Louis Wolfson & Co. help you with buying your new home in Needham
For most people, purchasing a home is a stressful event. But with some planning ahead of time, it isn't too complex.
So they'll know exactly what to expect, I will supply buyers with an outline of the entire deal.
Here are my nine steps to buying a home.
Should you have any questions about any of this information or if you're prepared to get started, just contact me here or e-mail me at .
Step 1 – Get ready to purchase a home
There are many things you'll want to do prior to commencing your home search.
You'll most likely want to put together a list of features you want to have, plan for what school districts and neighborhoods you want to live in, and begin working on your budget.
Ensuring your mortgage payment is around 1/3 of your monthly income is a good rule to go by.
Step 2 – Talk to a real estate agent
That's where I can help.
I'd be happy to arrange a time to meet with you and speak with you about why you want to buy a home and get an idea of your upcoming plans.
We'll talk about everything from neighborhoods, school districts in the Needham area, the mortgage industry, to any other economic factors that may affect your buying decision today or in the future.
I'll also help you facilitate the loan process.
Louis Wolfson & Co. partners with some of the finest mortgage professionals in Needham, so you can rest assured that you're in great hands.
They'll help you decide which kind of loan is best for you, as well as help you get qualified.
Step 3 – Start looking for a house
After our initial meeting, I'll begin finding available homes on the market that are good for you.
I'll research most of the houses and throw out the bad ones, and then we'll book appointments to view the homes when it's convenient for you.
When we tour houses, I'll identify good features and negative ones. I'll even ask you to talk about things you like and don't like.
For the most part, buyers amend their list of must-haves as we view houses and some items become far more essential than others.
If that's the situation, I'll look through all the listings again and trim it down to the home you've been waiting for.
Step 4 – Get a grasp of the market
My knowledge of the Needham market is a leading element in your home search. I am informed of all the neighborhoods and schools, and I will communicate which areas are "hot" and call for immediate action and the ones that are "cool" and allow for cautiousness.
When we view homes, I'll be sure to tell you when the list price has room for bargaining and when I know the home is "priced to sell."
When working with an agent, trust your instincts and make sure you ask plenty of questions, as any real estate agent will tell you they comprehend the home market.
If it seems like they don't know everything, call me at (617) 799-3326 or e-mail me at , and I'll be glad to answer your questions. My market expertise will keep you a step above the rest through the entire process.
Step 5 – Find the house of your dreams
We'll find the home of your dreams in the Needham area, and when we do, I'll meticulously create your purchase offer. The offer will be made to fit your needs and the home. We'll include a lot of contingencies, such as acquiring financing, finishing the home inspection, and a clear title.
When we present your offer, you'll want to submit "earnest money." This is a cash deposit given to the home seller to secure the offer to purchase the property and is usually applied to the closing costs. If your offer is accepted by the seller, we should close within 30 to 60 days afterward. This allows sufficient time for your mortgage financing.
Step 6 – Negotiate
Most contracts aren't closed on the first offer – it's very common to receive a counter offer. But don't let this alarm you. We'll figure out whether or not to agree to the counter offer, submit our own counter offer, or decline the seller's offer and move on.
How aggressively we negotiate the contract depends on market circumstances.
We'll also work within your budget. And at the end of the day, we'll put together a contract that is best for you.
Step 7 – Obtain financing
Once we sign the final contract, you'll start working with your lender to close the loan.
If you've been pre-qualified, this shouldn't take much time at all. But you'll need to stay in close contact with your lender.
And I'll take care of all the property information your mortgage lender will need to close the loan.
Step 8 – Close the deal
Your mortgage lender will give you a Loan Estimate (LE) of your closing costs within three days of receiving your application. You'll get a Loan Estimate (LE) of closing costs from your mortgage lender within three days of receiving your application.
The estimate is formed from the loan amount, and RESPA requirements require that it has to include all closing costs and fall within a precise range of accuracy. I'll go over the estimate and let you know if it all looks adequate.
Then it's time to close on your home. This will likely take place at a title company or escrow office and will likely be a smooth and pleasant affair.
Step 9 – Move in
Congratulations! Now you can move into your new home. Enjoy it. And if you need anything, just call me at (617) 799-3326 or e-mail me at .