Purchasing your new home in Medway with Betty McCall-Vernaglia

With a little planning ahead of time, buying a home isn't very complex, but the event can be stressful for a lot of people. I like to provide buyers with an overview of the entire deal so they understand exactly what they can expect. Below are my nine steps to buying a home. When you're ready to get started, simply contact me here or e-mail me at . I'm happy to answer any questions you have about this information.

Step 1 – Get ready to purchase
Before you begin searching for a home, there are several things you should contemplate. You'll most likely want to make an index of features you want to have, get a plan of what neighborhoods you'd like to live in, and begin planning around your budget. Ensuring your mortgage payment is less than or close to 1/3 of your monthly income is a good rule to follow.

Step 2 – Speak with a real estate agent in Medway
This is where Betty McCall-Vernaglia comes in. I'd love to schedule a time to meet with you and talk about why you want to buy a home and get an idea of your upcoming plans. We'll discuss everything from neighborhoods, school districts in the Medway area, the mortgage and housing industries, to any other economic factors that may potentially affect your buying decision today or in the future.

I'll also help you get started on your loan. There are some very good mortgage professionals in Medway, and I work with a lot of them, so you'll be in great hands. They'll assist you with deciding which kind of loan is best for you and help you get approved.

Step 3 – Begin your search
After we meet, I'll begin finding available houses on the market that suit your needs. I'll preview many of the houses and remove the bad ones, and then we'll schedule appointments to view the homes when it's convenient for you.

As we view the homes, I'll point out positive features and negative ones. I'll even ask you about things you like and dislike. Generally, buyers change their wish list as we view houses and some features become more essential than others. If that happens, I'll go back through the listings once more and narrow it down to the home you've been wishing for.

Step 4 – Understand the market
Your agent's understanding of the Medway housing market is a fundamental component in your home search. And I can assure you I'm informed of all the school districts and neighborhoods, and I'll let you know some districts are "hot" and call for prompt action and some that are "cold" and allow for thoughtful consideration.

When we view homes, I'll make sure to communicate when the seller's asking price has room for negotiation and when I trust the house is "priced to sell." When working with an agent, be on guard and make sure you ask a lot of questions. Any REALTOR will claim to know the market. If it appears they don't know everything, just call me at (508) 533-6100 or e-mail me at , and I'll be glad to answer any questions you might have. My market expertise will help you stay a step above the rest through the entire deal.

Step 5 – Find the house of your dreams
I'm sure we'll find the house of your dreams in the Medway area. When we do, I'll thoroughly create your home purchase offer. The offer will be tailored to suit your needs and the home, including several contingencies, such as acquiring financing, finishing the home inspection, and a clear title.

When sending in your purchase offer, you'll probably need to present "earnest money." This is a cash deposit made to a seller to secure the offer to purchase the property and is often put towards the cost of closing. If the seller accepts the offer, we should close on the property about 30 to 60 days after. This allows ample time for your mortgage financing.

Step 6 – Negotiate
Most deals don't close on the beginning offer – it's pretty common to receive a counter offer. Don't let this alarm you. We'll consider whether or not to take the counter offer, submit our own counter offer, or reject the seller's offer and move on.

The state of the market determines how aggressively we negotiate the contract. We'll also work within your financing budget. And at the end of the day, we'll formulate a contract that is best for you.

Step 7 – Secure financing
After we sign the final contract, you'll start working with your lender to close the loan. If you've been pre-approved, this won't take much time at all. But you should to stay in close contact with your lender. And I'll care for all the property information your mortgage lender will need to close the loan.

Step 8 – Close the deal
You'll get a Loan Estimate (LE) of closing costs from your lender within three days of taking your application. This estimate is formed from the loan amount. RESPA requirements order that it has to contain all closing costs and be within a strict range of accuracy, and I'll go over the estimate and let you know if it all looks all right.

Then we'll close on your home. This will likely take place at a title company or escrow office and will most often be a smooth and easygoing affair.

Step 9 – Move in
Congratulations! Now you can move into your new house. Enjoy it. And if you need anything, just contact me at (508) 533-6100 or e-mail me at .

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