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Let Louis Wolfson & Co. assist you in buying your home in Needham

With some up-front planning, purchasing a home isn't too hard, but the event is intimidating for a lot of people. I like to provide buyers with an overview of the whole deal so they'll know exactly what to expect. Here are my nine steps to purchasing a home. When you're ready to get started, just contact me here or e-mail me at . I'm happy to address any questions you have about this information.

Step 1 – Prepare to buy a home
There are many things you should take into account before beginning your home search. When you begin your search, you'll want to create a check list of features you want, get a plan of what school districts and neighborhoods you'd like to live in, and begin planning your budget. Keeping your mortgage payment less than a third of your net monthly income is a good guideline to go by.

Step 2 – Speak with a real estate agent in Needham
That's where I can help. I'd love to book a time to get together with you and speak with you about why you want to buy a home and get an idea of your future plans. We'll discuss the mortgage and housing industries, other economic factors that may affect your buying decision today or in the future, as well as neighborhoods and school districts in the Needham area.

I'll also help you begin the loan process. There are some great mortgage professionals in Needham, and I partner with a lot of them, so you'll be in great hands. They will help you choose which type of loan is best for you, as well as help you get approved.

Step 3 – Start your home search
After our initial meeting, I'll begin looking for houses on the market that are great for you. I'll get a sneak peek of many of the houses and remove the bad ones, and then we'll schedule appointments to view the houses at a time that's convenient for you.

When we view houses, I'll point out good features, as well as bad ones. I'll also ask you to point out what things you like and don't like. It's pretty common for buyers to change their list of must-haves as we tour houses and some features become more necessary than others. If that's the situation, I'll look through the listings another time and narrow it down to the house you've been dreaming about.

Step 4 – Get a grasp of the market
My understanding of the Needham home market is a crucial factor in your home search. I'm familiar with all the neighborhoods and school districts, and I'll alert you to some neighborhoods are "hot" and demand prompt action and others that are "cool" and allow for careful consideration.

When we view homes, I'll make sure to communicate if the list price has room for negotiation or if I believe the home is "priced to sell." When working with an agent, trust your instincts and make sure you ask a lot of questions, as any real estate agent will claim to truly understand the home market. If it doesn't seem like they know everything, just call me at (617) 799-3326 or e-mail me at , and I'd be happy to answer any questions you might have. My knowledge of the market will help you stay a step above the rest throughout the entire deal.

Step 5 – Find the home you've been waiting for
We'll find the home of your dreams in the Needham area, and when we do, I'll precisely develop your real estate purchase offer. The offer will be tailored exactly to your needs and the home, including some contingencies. A few examples are acquiring financing, finishing the inspection, and a clear title.

When sending in your purchase offer, you'll want to present "earnest money." This is a cash deposit submitted to the seller to secure an offer to purchase the property and is often applied to the cost of closing. If the offer is accepted by the seller, we should close on the property about 30 to 60 days after. This allows plenty of time for your mortgage financing.

Step 6 – Negotiate
Most deals don't close on the beginning offer – it's extremely common to receive a counter offer. But don't let this intimidate you. We'll consider whether or not to agree to the counter offer, present our own counter offer, or decline the seller's offer and move on.

Market circumstances determine how aggressively we negotiate the contract. We'll also work within your budget. And at the end of the day, we'll compose a contract that's best for you.

Step 7 – Obtain your loan
Upon completing the deal, you'll begin working with your lender to close the loan. If you're already pre-approved, it won't take very long at all. But you need to stay in close contact with your lender. And I'll look after all the property information your mortgage lender needs to close the loan.

Step 8 – Close the deal
Your mortgage lender will give you a Loan Estimate (LE) outlining closing costs within three days of accepting your application. You'll get a Loan Estimate (LE) detailing closing costs from your mortgage lender within three days of accepting your application. This estimate depends on the loan amount. RESPA requirements require that it has to include all closing costs and fall within a tight range of accuracy, and I'll review the estimate and let you know if everything looks permissible.

Then it's time to close on your home. This should occur at a title company or escrow office and is often a smooth and calm affair.

Step 9 – Move in
Congratulations! Now you can move into your new home. Enjoy it. And if you need anything, make sure you contact me at (617) 799-3326 or e-mail me at .

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