Let Louis Wolfson & Co. help you with buying your new home in Needham
For many people, buying a home is a stressful event. But with a bit of up-front planning, it isn't that hard.
So they know exactly what to expect, I'll provide buyers with an outline of the entire deal.
Below are my nine steps to buying a home.
When you're ready to get started, you can contact me here or e-mail me at . I'm happy to address questions you have regarding this information.
Step 1 – Get ready to purchase a home
There are a lot of things you should do before starting your home search.
You'll want to make a check list of features you want to have, plan for what school districts you'd like to live in, and start planning around your budget.
Ensuring your mortgage payment is less than or around 1/3 of your net monthly income is a good rule to follow.
Step 2 – Get in touch with a real estate agent
This is where I can help.
We can set up a time to get together so we can talk about your real estate needs and get an idea of your future plans.
We'll talk about neighborhoods, schools in the Needham area, the mortgage and housing industries, and any additional economic factors that may potentially affect your purchase today or in the future.
I can 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 assist you in figuring out which kind of loan is best for you and help you get approved.
Step 3 – Begin looking for a home
Following our initial meeting, I'll start searching for available houses on the market that suit your needs.
I'll preview many of the houses and ignore the duds, and then we'll book appointments to view the homes at a time that's convenient for you.
As we view the houses, I'll identify positive features, as well as bad ones. I'll even ask you to tell us about things you like and dislike.
It's common for buyers to update their wish list as we tour homes and some things become more essential than others.
If that's the situation, I'll go back through the listings once more and narrow it down to the house you've been wishing for.
Step 4 – Know the market
An agent's awareness of the Needham market is a necessary agent in your home search. And I can assure you I'm conscious of all the neighborhoods and school districts, and I'll alert you to what areas are "hot" and demand immediate action and others that are "cool" and allow for careful consideration.
As we tour homes, I'll be sure to tell you if the seller's list price has room for negotiation or if I believe the house is "priced to sell."
Trust your instincts and make sure you ask your agent a lot of questions, as every REALTOR in Needham will tell you they know the market.
If things don't add up, call me at (617) 799-3326 or e-mail me at , and I'd be glad to answer any questions you have. My market knowledge will keep you a step above the rest through the entire deal.
Step 5 – Find the house you've been waiting for
We'll find your dream home in Needham, and when we do, I'll precisely create your home purchase offer. The offer will be tailored keeping your needs in mind and the home, including several contingencies. A few examples are getting financing, finishing the inspection, and a clean title.
When we turn in your offer, you'll need to present "earnest money." This is a cash deposit submitted to a seller to secure an offer to purchase the property, and it's usually put towards the cost of closing. If the seller accepts your offer, we should close on the property about 30 to 60 days after. This allows sufficient time for your mortgage financing.
Step 6 – Negotiate
Most deals don't close on the first offer, and it's very common to receive a counter offer. But don't let this intimidate you. We'll talk over whether or not to consent to the counter offer, submit our own counter offer, or refuse the seller's offer and move on.
How aggressively we negotiate the contract depends on market conditions.
In addition, we'll work within your financing constraints. And when it's all said and done, we'll put together a contract that is best for you.
Step 7 – Get your loan
Once we sign the final sales contract, you'll begin working with your mortgage lender to close the loan.
If you've been pre-qualified, this shouldn't take very long at all. But you'll need to stay in close contact with your mortgage lender.
And I'll handle all the property information your mortgage lender needs to close the loan.
Step 8 – Close the deal
Your mortgage lender will provide you with a Loan Estimate (LE) outlining closing costs within three days of receiving your loan application. You'll get a Loan Estimate (LE) outlining closing costs from your mortgage lender within three days of receiving your application.
The estimate is formed from the loan amount. RESPA requirements order that it has to involve all closing costs and be within a close range of accuracy, and I'll study the estimate and let you know if everything looks adequate.
Then we'll close on your home. This will probably happen at a title company or escrow office and should be a smooth and peaceful affair.
Step 9 – Move in
Congratulations! Now you can move into your new home. Enjoy it. And if you need anything, simply call me at (617) 799-3326 or e-mail me at .