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Are you looking to buy a new home in Needham? Louis Wolfson & Co. can help.

For many people, purchasing a home can be a stressful event. However, with a bit of up-front planning, it's not that complicated. I like to give buyers a road map of the whole deal so they understand exactly what to expect. Here are my nine steps to buying a home. Should you have any questions regarding any of this information or if you're prepared to get started, you can contact me here or e-mail me at .

Step 1 – Get ready to purchase
There are plenty of things you'll want to contemplate before commencing your home search. When you begin your search, you'll want to assemble a list of must-have features, get an idea of what school districts and neighborhoods you want to live in, and start planning around your budget. Ensuring your mortgage payment is around 30 percent of your monthly income is a good guideline to follow.

Step 2 – Contact a real estate agent
This is where I can help. We'll schedule a time to get together so we can talk about why you want to buy a home and get an idea of your future plans. We'll discuss everything from neighborhoods, school districts in the Needham area, the mortgage industry, to any other economic factors that might affect your purchase today or in the future.

I'll also assist you in getting started on your loan. Louis Wolfson & Co. partners with some of Needham's finest mortgage professionals, so you can rest assured that you're in great hands. They will help you figure out which kind of loan is best for you, as well as help you get qualified.

Step 3 – Start your home search
After our initial meeting, I'll begin looking for homes on the market that are a great fit for you. I'll preview most of the houses and ignore the duds, and then we'll schedule appointments to tour the houses whenever it's convenient for you.

When we view the homes, I'll point out positive features and negative ones. I'll even ask you what things you like and dislike. It's common for buyers to revise their list of must-haves as we view houses and some items become more crucial than others. If that happens, I'll look through all the listings one more time and narrow it down to the house of your dreams.

Step 4 – Comprehend the housing market
Your agent's understanding of the Needham market is an imperative factor in your house search. And I can assure you I'm acquainted with all the schools and neighborhoods, and I can communicate certain neighborhoods are "hot" and demand prompt action and others that are "cold" and allow for thoughtful analysis.

As we view houses, I'll be sure to tell you if the asking price has room for negotiation or if I believe the home is "priced to sell." When working with an agent, be careful and be sure to ask a lot of questions, as any real estate agent will tell you they comprehend the home market. If things don't add up, call me at (617) 799-3326 or e-mail me at , and I'd be more than happy to answer any questions you have. My market expertise will help you stay a step ahead throughout the entire process.

Step 5 – Find the house you've been waiting for
We'll find your dream home in Needham, and when we do, I'll meticulously develop your home purchase offer. The offer will be tailored exactly to your needs and the home, including many contingencies, such as obtaining financing, finishing the inspection, and a clean title.

Upon turning in your offer, you'll want to submit "earnest money." This is a cash deposit made to the seller to secure an offer to buy the property and is typically applied to the cost of closing. If your offer is accepted by the seller, we should close on the property within 30 to 60 days afterward. This allows plenty of time for your mortgage financing.

Step 6 – Negotiate
Most contracts aren't closed on the initial offer – it's widely common to receive a counter offer. Don't let this intimidate you. We'll consider whether or not to consent to the counter offer, present our own counter offer, or reject the seller's offer and move on.

Market circumstances determine how aggressively we negotiate the deal. In addition, we'll work within your financing limits. And when it's all said and done, we'll formulate a deal that is best for you.

Step 7 – Get a loan
After we sign the final sales contract, you'll start working with your lender to close the loan. If you've been pre-approved, it won't take much time at all. But you should to keep in close contact with your lender. And I'll handle all the property information your lender needs to close the loan.

Step 8 – Close the deal
Your mortgage lender will supply you with a Loan Estimate (LE) of your closing costs within three days of taking your application. You'll get a Loan Estimate (LE) detailing closing costs from your mortgage lender within three days of receiving your application. This estimate is formed from the loan amount. RESPA requirements require that it has to involve all closing costs and be within a tight range of accuracy, and I'll study the estimate and let you know if it all looks good.

Then it's time to close on your home. This will most often take place at a title company or escrow office and is often a smooth and relaxing occasion.

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

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