Buying or selling a home in Needham?
Buying a home intimidates most people, but it's not too complex with some planning ahead of time.
So they know exactly what to expect, I will furnish buyers with a road map of the whole deal.
These are my nine steps to buying a home.
Should you have questions about any of this information or if you're ready to get started, you can contact me here or e-mail me at .
Step 1 – Prepare to purchase
There are many things you'll want to take into account before starting your home search.
You'll want to put together a check list of features you need to have, get a feeling for what school districts you want to live in, and begin planning your budget.
Ensuring your mortgage payment is less than or around 1/3 of your net monthly income is a good guideline to follow.
Step 2 – Speak with a real estate agent
That's where I come in.
I'd be happy to arrange a time to meet with you and communicate with you about your real estate needs and get an idea of your future plans.
We'll talk about neighborhoods, school districts in the Needham area, the mortgage industry, and any additional economic factors that may potentially affect your buying decision today or in the future.
In addition, I'll help you facilitate the loan process.
There are some excellent mortgage professionals in Needham, and I work with a lot of them, so you'll be in great hands.
They will assist you in figuring out which kind of loan is best for you and help you get approved.
Step 3 – Begin your search
After our first meeting, I'll begin looking for houses on the market that meet your needs.
I'll research most of the houses and throw out the bad ones, and then we'll schedule appointments to tour the homes when it's most convenient for you.
When we tour the homes, I'll identify positive features, as well as bad ones. And I'll ask you about things you like and dislike.
It's common for buyers to change their list of must-haves as we view homes and some items become more important than others.
If that's the case, I'll look through the listings one more time and trim it down to the home of your dreams.
Step 4 – Understand the market
An agent's understanding of the Needham housing market is an essential factor in your house search. And I can assure you I'm conscious of all the school districts and neighborhoods, and I will let you know which districts are "hot" and warrant immediate action and others that are "cold" and allow for careful examination.
When we tour homes, I'll make sure to communicate when the seller's asking price has room for negotiation and when I think the home is "priced to sell."
When working with an agent, be mindful and make sure you ask a lot of questions, as every real estate agent will tell you they truly know the housing market.
If things don't add up, just call me at (617) 799-3326 or e-mail me at , and I'd be happy to answer any questions you may have. My market expertise will help you stay a step ahead throughout the entire process.
Step 5 – Find your dream home
We'll find your dream house in Needham, and when that happens, I'll carefully 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 getting financing, finishing the inspection, and a clean title.
When presenting your offer, most likely you'll want to present "earnest money." This is a cash deposit given to a home seller to secure the offer to purchase the property. The amount is usually put towards the cost of closing. If the offer is accepted, we should close on the home within 30 to 60 days after. This allows enough time for your mortgage financing.
Step 6 – Negotiate the deal
Most contracts don't close on the initial offer – it's pretty common to receive a counter offer. But don't let it intimidate you. We'll consider whether or not to agree to the counter offer, present our own counter offer, or reject the seller's offer and move on.
Market circumstances will play a vital role in how aggressively we negotiate the deal.
In addition, we'll work within your financing budget. And when it's all said and done, we'll formulate a deal that works well for you.
Step 7 – Secure financing
After we sign the final sales contract, you'll start working with your lender to close the loan.
This won't be a long process at all if you're already pre-approved, but you should to stay in close contact with your lender.
And I'll handle 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) outlining your closing costs from your lender within three days of accepting your application.
This estimate is based on the loan amount, and RESPA requirements mandate that it has to include all closing costs and be within a tight range of accuracy. I'll go over the estimate and let you know if everything looks all right.
Then it's time to close on your house. This should happen at a title company or escrow office and will likely be a smooth and hassle-free occurrence.
Step 9 – Move in
Congratulations! Now you can move into your new home. Enjoy it. And if you need anything, be sure to call me at (617) 799-3326 or e-mail me at .