Are you purchasing your new home in Needham?

Buying a home can be stressful for a lot of people. However, with a bit of up-front planning, it's not all that confusing. So they understand exactly what they can expect, I will supply buyers with an outline of the entire deal. Here are my nine steps to purchasing a home. When you're ready to get started, you can contact me here or e-mail me at . I'm happy to answer any questions you have about this information.

Step 1 – Prepare to buy a home
There are many things you should contemplate prior to starting your home search. When you begin your search, you'll probably want to put together an outline of items you want, get a feeling for what school districts and neighborhoods you want to live in, and start planning your budget. Keeping your mortgage payment less than 1/3 of your monthly income is a good rule of thumb to follow.

Step 2 – Contact a real estate agent
This is where Louis Wolfson & Co. comes in. We can set up 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 discuss everything from neighborhoods, school districts in the Needham area, the mortgage industry, to any other economic factors that could potentially affect your purchase today or in the future.

I'll also help you start the loan process. There are some very good mortgage professionals in Needham, and I partner with a lot of them, so you'll be 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 – Start your search
Following our initial meeting, I'll start looking for houses on the market that best suit you. I'll preview most of the houses and reject the duds, and then we'll schedule appointments to tour the houses when it's most convenient for you.

When we view the homes, I'll point out positive features and bad ones. I'll even ask you to point out what things you like and dislike. It's common for buyers to update their wish list as we tour houses and some features become more essential than others. If that's the situation, I'll search the listings once more and narrow it down to the home of your dreams.

Step 4 – Comprehend the market
An agent's knowledge of the Needham home market is an imperative agent in your home search. And I can assure you I'm informed of all the neighborhoods and schools, and I'll let you know some districts are "hot" and require prompt action and some that are "cool" and allow for thoughtful analysis.

When we view houses, I'll let you know if the seller's asking price has room for bargaining or if I believe the house is "priced to sell." When working with an agent, be on guard and make sure you ask lots of questions. Any REALTOR in Needham will convince you they truly know the market. If things don't add up, just call me at (617) 799-3326 or e-mail me at , and I'll be happy to answer your questions. My market knowledge will help you stay a step ahead through the entire deal.

Step 5 – Find the home you've been waiting for
We'll find your dream house in the Needham area, and when that happens, I'll meticulously develop your purchase offer. The offer will be made to fit your needs and the home. We'll include some contingencies, such as getting financing, completing the home inspection, and a clear title.

Upon turning in your offer, you'll want to present "earnest money." This is a cash deposit given to the home seller to secure an offer to buy the property, and it's most often applied to the closing costs. If the offer is accepted, we should close on the home about 30 to 60 days afterward. This allows sufficient time for your mortgage financing.

Step 6 – Negotiate
Unfortunately most deals aren't closed on the first offer. It's really common to receive a counter offer. Don't let it intimidate you. We'll talk about whether or not to consent to the counter offer, present our own counter offer, or decline the seller's offer and go on.

Market conditions will play a big part in how aggressively we negotiate the contract. We'll also work within your financing constraints. And at the end of the day, we'll assemble a deal that is best for you.

Step 7 – Secure financing
Once we sign the final contract, you'll start working with your lender to close the loan. If you're pre-approved, it won't take long at all, but you'll need to keep in close contact with your lender. And I'll sort out all the property information your mortgage lender needs to close the loan.

Step 8 – Close the deal
You'll get a Loan Estimate (LE) detailing closing costs from your lender within three days of accepting your application. This estimate is formed from the loan amount. RESPA requirements dictate 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 it all looks all right.

Then it's time to close on your house. This will likely occur at a title company or escrow office and will most often be a smooth and relaxing occurrence.

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