Buying or selling a home in Needham?

For a lot of people, purchasing a home can be an intimidating event. But with some up-front planning, it's not that complicated. So they understand exactly what they can expect, I'll supply buyers with an outline of the entire deal. Below 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 address questions you have regarding this information.

Step 1 – Get ready to purchase
There are many things you'll want to take into account before you start searching for a home. You'll most likely want to make an index of features you want to have, get a plan of what school districts you want to live in, and begin planning your budget. Ensuring your mortgage payment is less than 1/3 of your net monthly income is a good rule to follow.

Step 2 – Speak with a real estate agent
That's where I come in. We'll arrange a time to meet so we can talk about why you want to buy a home and get an idea of your future plans. We'll discuss the mortgage industry, other economic factors that could 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 get started on your loan. There are some excellent mortgage professionals in Needham, and I work with a lot of them, so you'll be in great hands. They can assist you with deciding which type of loan is best for you and help you get qualified.

Step 3 – Begin house hunting
After our initial meeting, I'll begin finding available homes on the market that are a good fit for you. I'll get a sneak peek of many of the homes and reject the duds, and then we'll schedule appointments to tour the houses at a time that's convenient for you.

When we view homes, I'll show you the positive features, as well as bad ones. I'll also ask you to tell us about things you like and don't like. It's common for buyers to update their wish list as we view houses and some things become far more crucial than others. If that's the case, I'll search all the listings once more and narrow it down to the home of your dreams.

Step 4 – Understand the market
Your agent's awareness of the Needham market is an essential factor in your home search. And I can assure you I'm familiar with all the school districts and neighborhoods, and I will let you know what neighborhoods are "hot" and warrant prompt action and the ones that are "cold" and allow for more analysis.

As we view homes, I'll make sure to communicate when the list price has room for bargaining and when I think the house is "priced to sell." Be mindful and make sure you ask plenty of questions, as every REALTOR will tell you they understand the housing market. If things don't add up, call me at (617) 799-3326 or e-mail me at , and I'd be happy to answer any questions you have. My market knowledge will help you stay a step ahead throughout the entire deal.

Step 5 – Find the house you've been waiting for
We'll find the house of your dreams in Needham, and when that happens, I'll meticulously create your real estate purchase offer. The offer will be tailored keeping your needs in mind and the home, including a lot of contingencies, such as obtaining financing, finishing the inspection, and a clear title.

When presenting your purchase offer, you'll need to present "earnest money." This is a cash deposit given to a home seller to secure the offer to purchase the property, and it's usually applied to the cost of closing. If the seller accepts your offer, we should close on the home within 30 to 60 days after. This allows sufficient time for your mortgage financing.

Step 6 – Negotiate the deal
Unfortunately most contracts don't close on the first offer. It's extremely common to receive a counter offer. Don't let this discourage you. We'll talk over whether or not to agree to the counter offer, present our own counter offer, or refuse the seller's offer and go on.

Market circumstances determine how aggressively we negotiate the deal. In addition, we'll work within your financing budget. And at the end of the day, we'll put together a deal that's best for you.

Step 7 – Obtain financing
After the contract is finalized, you'll start working with your mortgage lender to close the loan. If you're already pre-approved, this shouldn't take much time at all. But you need to keep in close contact with your lender. And I'll look after all the property information your mortgage lender will need to close the loan.

Step 8 – Close the deal
You'll get a Loan Estimate (LE) of your closing costs from your lender within three days of accepting your application. The estimate rests on the loan amount. RESPA requirements mandate that it has to involve all closing costs and fall within a narrow range of accuracy, and I'll review the estimate and let you know if everything looks adequate.

Then it's time to close on your house. This will most likely take place at a title company or escrow office and will likely be a smooth and comfortable event.

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

Looking to Buy?

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Louis Wolfson & Co.

29 Cimino Road
Needham, MA 02494