Contemplating buying your new home in Milton or Boston and South Shore? Kelley & Rege Properties Inc can help.
Purchasing a home is an intimidating event for a lot of people, but with a bit of up-front planning, it's not that confusing. So they'll understand exactly what they can expect, I will give buyers an overview of the whole deal. Here are my nine steps to buying a home. When you're ready to get started, just contact me here or e-mail me at . I'm glad to address any questions you have regarding this information.Step 1 – Get ready to buy
There are plenty of things you'll want to consider before commencing your home search. You'll most likely want to make a check list of features you want to have, get a plan of what school districts you want to live in, and begin planning around your budget. Keeping your mortgage payment around a third of your net monthly income is a good rule of thumb to go by.
Step 2 – Connect with a real estate agent
This is where I can help. We can book a time to meet so we can talk about why you want to buy a home and get an idea of your plans for the future. We'll discuss the mortgage and housing industries, other economic factors that may potentially affect your purchase today or in the future, as well as neighborhoods and schools in the Milton area.
I'll also help you get started on your loan. There are some great mortgage professionals in Milton, and I work with a lot of them, so you'll be in great hands. They'll help you figure out which kind of loan is best for you, as well as help you get approved.
Step 3 – Start looking
After our first meeting, I'll start looking for houses on the market that are great for you. I'll get a sneak peek of many of the houses and eliminate the bad ones, and then we'll book appointments to tour the houses when it's convenient for you.
As we view the homes, I'll identify good features and negative ones. And I'll ask you to talk about things you like and dislike. Oftentimes, buyers amend their list of must-haves as we tour houses and some items become more necessary than others. If that's the case, I'll search all the listings again and narrow it down to the house of your dreams.
Step 4 – Know the housing market
An agent's knowledge of the Milton housing market is an imperative agent in your home search. And I assure you I'm familiar with all the school districts and neighborhoods, and I'll let you know some areas are "hot" and require immediate action and others that are "cool" and allow for careful consideration.
When we view homes, I'll be sure to tell you when the seller's asking price has room for negotiation and when I believe the house is "priced to sell." When working with an agent, be on guard and make sure you ask a lot of questions. Every real estate agent will convince you they comprehend the housing market. If things don't add up, just call me at 6176966100 or e-mail me at , and I'll be glad to answer any questions you may have. My understanding of the market will keep you a step ahead throughout the entire process.
Step 5 – Find the house you've been waiting for
I'm certain we'll find the house of your dreams in the Milton area. When we do, I'll carefully create your real estate purchase offer. The offer will be made to suit your needs and the home. We'll include several contingencies, such as getting financing, finishing the home inspection, and a clean title.
When we send in your offer, you'll need to present "earnest money." This is a cash deposit given to a home seller to secure the offer to buy the property and is often applied to the closing costs. If the offer is accepted, we should close within 30 to 60 days afterward. This allows ample time for your mortgage financing.
Step 6 – Negotiate
Unfortunately most deals don't close on the beginning offer, and it's extremely common to receive a counter offer. But don't let it intimidate you. We'll consider whether or not to accept the counter offer, present our own counter offer, or reject the seller's offer and go on.
How aggressively we negotiate the contract depends on the state of the market. We'll also work within your financing constraints. And at the end of the day, we'll compose a deal that works well for you.
Step 7 – Secure financing
Once the deal is finalized, you'll begin working with your lender to close the loan. If you've been pre-approved, it won't be a long process at all. But you'll want to stay in close contact with your mortgage lender. And I'll take care of 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 your closing costs from your lender within three days of accepting your loan application. The estimate is based on 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 study the estimate and let you know if everything looks all right.
Then it's time to close on your house. This will probably occur at a title company or escrow office and is often a smooth and calm affair.
Step 9 – Move in
Congratulations! It's time to move into your new home. Enjoy it. And if you need anything or have any questions, be sure to contact me at 6176966100 or e-mail me at .