Are you purchasing your home in Needham?
Buying a home is an intimidating event for a lot of people, but it isn't too complex with a bit of planning ahead of time.
So they'll understand exactly what they can expect, I will furnish buyers with a road map of the whole deal.
Here are my nine steps to buying a home.
Should you have questions about any of this information or if you're prepared to get started, simply contact me here or e-mail me at .
Step 1 – Prepare to purchase a home
Prior to beginning your home search, there are a lot of things you'll want to take into account.
It's likely that you'll want to assemble a checklist of must-haves, get a plan of what school districts you want to live in, and begin planning around your budget.
Keeping your mortgage payment around 1/3 of your monthly income is a good rule to adhere to.
Step 2 – Contact a real estate agent in Needham
This is where Louis Wolfson & Co. can help.
We'll book a time to get together 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 schools in the Needham area.
In addition, I'll assist you in getting started on your loan.
I work with some of the finest mortgage professionals in Needham, 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 home search
After our first meeting, I'll begin finding available houses on the market that meet your needs.
I'll preview many of the houses and throw out the bad ones, and then we'll book appointments to view the houses when it's convenient for you.
As we tour houses, I'll call attention to positive features, as well as negative ones. And I'll ask you to talk about things you like and don't like.
It's pretty common for buyers to amend their list of must-haves as we view houses and some items become far more crucial than others.
If such is the case, I'll look through all the listings another time and narrow it down to the house you've been wishing for.
Step 4 – Know the market
My knowledge of the Needham home market is an essential element in your home search. I am informed of all the neighborhoods and schools, and I will alert you to certain districts are "hot" and require prompt action and others that are "cool" and allow for cautiousness.
When we tour houses, I'll make sure to communicate when the seller's list price has room for bargaining and also when I think the home is "priced to sell."
Be mindful and be sure to ask lots of questions, as any real estate agent in Needham will tell you they understand the home market.
If it doesn't seem like they know everything, 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 knowledge will help you stay a step ahead through the entire process.
Step 5 – Find the home you've been waiting for
We'll find your dream home in Needham, and when that happens, I'll precisely develop your real estate purchase offer. The offer will be made to fit your needs and the home. We'll include many contingencies, such as getting financing, finishing the inspection, and a clean title.
Upon turning in your offer, you'll likely need to present "earnest money." This is a cash deposit made to a seller to secure an offer to purchase the property and is often put towards the closing costs. If the seller accepts your offer, we should close about 30 to 60 days after. This allows plenty of time for your mortgage financing.
Step 6 – Negotiate
Most contracts don't close on the initial offer – it's widely common to receive a counter offer. Don't let it discourage 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 circumstances determine how aggressively we negotiate the deal.
We'll also work within your financing constraints. And at the end of the day, we'll create a contract that's best for you.
Step 7 – Obtain a loan
After the deal is signed, you'll start working with your lender to close the loan.
If you're already pre-approved, it shouldn't be a long process at all, but you'll need to keep in close contact with your lender.
And I'll look after all the property information your lender will need to close the loan.
Step 8 – Close the deal
Your mortgage lender will give you a Loan Estimate (LE) detailing your closing costs within three days of accepting your application. You'll get a Loan Estimate (LE) of your closing costs from your mortgage lender within three days of getting your application.
The estimate depends on the loan amount. RESPA requirements require that it has to include all closing costs and be within a strict range of accuracy, and I'll go over the estimate and let you know if everything looks permissible.
Then we'll close on your home. This should occur at a title company or escrow office and will likely be a smooth and relaxing event.
Step 9 – Move in
Congratulations! It's time to move into your new home. Enjoy it. And if you have any questions, simply call me at (617) 799-3326 or e-mail me at .