Looking to purchase a home in Needham? Louis Wolfson & Co. can help.
Purchasing a home is an intimidating event for most people, but with a bit of planning ahead of time, it isn't too confusing.
So they know exactly what they can expect, I'll furnish buyers with an overview of the whole deal.
These are my nine steps to purchasing 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 regarding this information.
Step 1 – Get ready to buy
There are plenty of things you should do before you search for a home.
When you begin your search, you'll probably want to form a checklist of features you need, get an idea of what neighborhoods you want to live in, and begin working on your budget.
A good principle to follow is that your mortgage payment should be close to 1/3 of your net monthly income.
Step 2 – Talk to a real estate agent
This is where Louis Wolfson & Co. comes in.
I'd love to book a time to get together with you and speak with you about your real estate needs and get an idea of your plans for the future.
We'll discuss everything from neighborhoods, school districts in the Needham area, the mortgage and housing industries, to any other economic factors that could potentially affect your buying decision today or in the future.
I can also assist you in getting started on your loan.
There are some excellent mortgage professionals in Needham, and I work with a lot of them, so you're in great hands.
They will help you determine which type of loan is best for you, as well as help you get approved.
Step 3 – Begin your search
Following our first meeting, I'll begin looking for available homes on the market that suit your needs.
I'll get a sneak peek of most of the houses and remove the duds, and then we'll book appointments to view the houses when it's most convenient for you.
As we tour homes, I'll show you the good features, as well as bad ones. I'll even ask you about things you like and dislike.
For the most part, buyers change their list of must-haves as we tour houses and some items become far more crucial than others.
If that happens, I'll go back through all the listings another time and trim it down to the home of your dreams.
Step 4 – Know the housing market
An agent's understanding of the Needham market is a crucial factor in your house search. And I can assure you I'm familiar with all the neighborhoods and schools, and I can alert you to what districts are "hot" and call for immediate action and others that are "cold" and allow for careful consideration.
When we view houses, I'll be sure to tell you if the list price has room for negotiation or if I believe the home is "priced to sell."
When working with an agent, be mindful and make sure you ask plenty of questions, as any REALTOR will claim to comprehend the housing market.
If things don't add up, contact me at (617) 799-3326 or e-mail me at , and I'll be glad to answer any questions you have. My market knowledge will keep you a step above the rest throughout the entire process.
Step 5 – Find the house of your dreams
We'll find the house of your dreams in Needham, and when that happens, I'll meticulously develop your home purchase offer. The offer will be made to fit your needs and the home. We'll include several contingencies, such as acquiring financing, finishing the home inspection, and a clear title.
Upon presenting your offer, you'll need to present "earnest money." This is a cash deposit given to a home seller to secure an offer to purchase the property. The amount is often applied to the closing costs. If the offer is accepted, we should close about 30 to 60 days afterward. This allows necessary time for your mortgage financing.
Step 6 – Negotiate the deal
A lot of deals don't close on the initial offer. It's pretty common to receive a counter offer. Don't let it intimidate you. We'll consider whether or not to agree to the counter offer, present our own counter offer, or decline the seller's offer and go on.
How aggressively we negotiate the contract depends on market conditions.
In addition, we'll work within your financing limits. And at the end of the day, we'll formulate a contract that's best for you.
Step 7 – Get financing
Once we sign the final sales contract, you'll begin working with your mortgage lender to close the loan.
It shouldn't take much time at all if you've been pre-qualified, but you should to stay in close contact with your mortgage lender.
And I'll take care of all the property information your lender needs to close the loan.
Step 8 – Close the deal
Your lender will furnish you with a Loan Estimate (LE) outlining your closing costs within three days of taking your loan application. You'll get a Loan Estimate (LE) detailing your closing costs from your lender within three days of taking your loan application.
This estimate is formed from the loan amount. RESPA requirements mandate that it has to include all closing costs and be within a precise range of accuracy, and I'll study the estimate and let you know if it all looks permissible.
Then it's time to close on your house. This will likely happen at a title company or escrow office and is often a smooth and stress-free occurrence.
Step 9 – Move in
Congratulations! Now you can move into your new house. Enjoy it. And if you have any questions, just contact me at (617) 799-3326 or e-mail me at .