Are you purchasing a new home in Milton?
Purchasing a home can be stressful for many people, but it's not that confusing with some up-front planning.
I like to supply buyers with an overview of the whole deal so they'll know exactly what to expect.
These 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 happy to answer questions you have about this information.
Step 1 – Prepare to buy a home
Before you begin looking for a home, there are many things you'll want to consider.
You'll most likely want to form a check list of items you want to have, get a feeling for what school districts you want to live in, and begin planning around your budget.
Keeping your mortgage payment less than or close to 1/3 of your net monthly income is a good rule of thumb to go by.
Step 2 – Speak with a real estate agent
This is where I can help.
We can set up a time to get together so we can talk about your real estate needs and get an idea of your future plans.
We'll talk about neighborhoods, schools in the Milton area, the mortgage industry, and any additional economic factors that may potentially affect your purchase today or in the future.
In addition, I'll help you facilitate the loan process.
Kelley Rege Properties INC. works with some of the best mortgage professionals in Milton, so you can rest assured that you're in great hands.
They will help you decide which kind of loan is best for you, as well as help you get approved.
Step 3 – Start your search
Following our first meeting, I'll begin finding available houses on the market that are a great fit for you.
I'll preview most of the homes and reject the duds, and then we'll schedule appointments to tour the houses when it's convenient for you.
When we tour the homes, I'll point out good features and negative ones. I'll even ask you what things you like and don't like.
It's widely common for buyers to amend their wish list as we view houses and some things become more essential than others.
If that's the case, I'll look through all the listings again and narrow it down to the home you've been wishing for.
Step 4 – Understand the market
My knowledge of the Milton home market is a crucial agent in your house search. I am mindful of all the neighborhoods and school districts, and I can let you know which neighborhoods are "hot" and call for prompt action and the ones that are "cold" and allow for more consideration.
When we view houses, I'll be sure to tell you when the asking price has room for bargaining and when I believe the home is "priced to sell."
Trust your instincts and make sure you ask a lot of questions, as every real estate agent will tell you they understand the home market.
If things don't add up, call me at 617-696-1000 x 208 or e-mail me at , and I'd be more than happy to answer your questions. My market knowledge will help you stay a step ahead throughout the entire process.
Step 5 – Find the home you've been waiting for
I'm positive we'll find your dream house in the Milton area. When we do, I'll carefully create your real estate purchase offer. The offer will be tailored to suit your needs and the home, including many 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 made to a home seller to secure the offer to buy the property, and it's often put towards the cost of closing. If your offer is accepted, we should close within 30 to 60 days after. This allows ample time for your mortgage financing.
Step 6 – Negotiate the deal
Unfortunately most deals aren't closed on the first offer, and it's widely common to receive a counter offer. But don't let this alarm you. We'll figure out whether or not to consent to the counter offer, propose our own counter offer, or decline the seller's offer and go on.
How aggressively we negotiate the deal depends on the state of the market.
In addition, we'll work within your financing constraints. And when it's all said and done, we'll put together a deal that is best for you.
Step 7 – Get a loan
After the deal is complete, you'll start working with your lender to close the loan.
If you've been pre-qualified, it won't take much time at all. But you should to stay in close contact with your mortgage lender.
And I'll take care of all the property information your lender will need to close the loan.
Step 8 – Close the deal
Your mortgage lender will send you a Loan Estimate (LE) outlining closing costs within three days of accepting your loan application. You'll get a Loan Estimate (LE) detailing closing costs from your lender within three days of receiving your loan application.
This estimate depends on the loan amount. RESPA requirements dictate that it has to include all closing costs and fall within a close range of accuracy, and I'll study the estimate and let you know if it all looks all right.
Then we'll close on your house. This will most often happen at a title company or escrow office and is often a smooth and calm affair.
Step 9 – Move in
Congratulations! Now you can move into your new house. Enjoy it. And if you have any questions, make sure you call me at 617-696-1000 x 208 or e-mail me at .