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Contemplating buying a home in Needham?

Purchasing a home is intimidating for many people, but it's not all that complicated with a bit of planning ahead of time. So they'll understand exactly what they can expect, I will supply buyers with a road map of the whole 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 – Get ready to buy
There are a lot of things you should do before you search for a home. When you begin your search, you'll probably want to form a list of must-haves, get a feeling for what school districts and neighborhoods you'd like to live in, and begin planning your budget. A good rule of thumb to follow is that your mortgage payment should be less than or close to 1/3 of your net monthly income.

Step 2 – Talk to a real estate agent
That's where I come in. We'll schedule a time to get together so we can talk about your real estate needs and get an idea of your plans for the future. We'll talk about the mortgage industry, other economic factors that could potentially affect your buying decision today or in the future, as well as neighborhoods and school districts in the Needham area.

In addition, I'll help you start the loan process. There are some excellent mortgage professionals in Needham, and I partner with a lot of them, so you can rest assured that you're in great hands. They will help you determine which kind of loan is best for you, as well as help you get approved.

Step 3 – Begin house-hunting
After our initial meeting, I'll begin searching for available houses on the market that are a great fit for you. I'll preview most of the houses and eliminate the duds, and then we'll schedule appointments to tour the homes at a time that's convenient for you.

When we tour the homes, I'll identify positive features and bad ones. And I'll ask you what things you like and don't like. Most often, buyers change their wish list as we tour homes and some items become far more substantial than others. If that's the case, I'll go back through the listings once again and narrow it down to the home you've been waiting for.

Step 4 – Understand the housing market
Your agent's knowledge of the Needham market is an imperative element in your house search. And I assure you I'm informed of all the schools and neighborhoods, and I will let you know some neighborhoods are "hot" and call for immediate action and the ones that are "cold" and allow for thoughtful examination.

As we tour homes, I'll let you know when the list price has room for bargaining and when I believe the home is "priced to sell." When working with an agent, be on guard and make sure you ask plenty of questions. Every REALTOR in Needham will tell you they truly understand the market. If it appears they don't know everything, just call me at (617) 799-3326 or e-mail me at , and I'd be glad to answer your questions. My knowledge of the market will keep you a step ahead through the entire process.

Step 5 – Find the house of your dreams
We'll find your dream house in the Needham area, and when that happens, I'll carefully develop your purchase offer. The offer will be tailored keeping your needs in mind and the home, including some contingencies. A few examples are acquiring financing, completing the home inspection, and a clear title.

When we send in your purchase offer, you'll need to present "earnest money." This is a cash deposit submitted to a home seller to secure an offer to purchase the property. The amount is usually applied to the closing costs. If the seller accepts the offer, we should close about 30 to 60 days afterward. This allows ample time for your mortgage financing.

Step 6 – Negotiate the deal
Unfortunately most deals aren't closed on the initial offer – it's very common to receive a counter offer. But don't let it alarm you. We'll talk about whether or not to take the counter offer, present our own counter offer, or decline the seller's offer and move on.

Market conditions will play a part in how aggressively we negotiate the contract. We'll also work within your financing limits. And when it's all said and done, we'll create a deal that works well for you.

Step 7 – Get your loan
Upon finishing the contract, you'll begin working with your lender to close the loan. It won't take long at all if you're already pre-approved, but you need to keep in close contact with your mortgage 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 lender will furnish you with a Loan Estimate (LE) detailing your closing costs within three days of receiving your loan application. You'll get a Loan Estimate (LE) outlining your closing costs from your lender within three days of receiving your application. The estimate is formed from the loan amount, and RESPA requirements order that it has to involve all closing costs and fall within a close range of accuracy. I'll examine the estimate and let you know if everything looks okay.

Then it's time to close on your home. This will most likely happen at a title company or escrow office and will likely be a smooth and easygoing affair.

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

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