Purchasing your home in Medway
With a little planning ahead of time, buying a home isn't all that complex, but the event is stressful for a lot of people.
So they know exactly what they can expect, I will give buyers an overview of the whole deal.
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 glad to address questions you have about this information.
Step 1 – Prepare to purchase a home
There are plenty of things you'll want to take into account before beginning your home search.
It's likely that you'll want to assemble a checklist of features you want to have, get a feeling for what school districts and neighborhoods you want to live in, and begin planning around your budget.
A good rule of thumb to go by is that your mortgage payment should be less than or close to 30 percent of your net monthly income.
Step 2 – Speak with a real estate agent in Medway
This is where Betty McCall-Vernaglia comes in.
We'll book a time to get together so we can talk about your real estate needs and get an idea of your upcoming plans.
We'll discuss the mortgage industry, other economic factors that may affect your purchase today or in the future, as well as neighborhoods and school districts in the Medway area.
In addition, I'll help you begin the loan process.
There are some excellent mortgage professionals in Medway, and I partner with a lot of them, so you can rest assured that you're in great hands.
They can assist you with choosing which kind of loan is best for you and help you get qualified.
Step 3 – Begin looking
Following our initial meeting, I'll begin looking for houses on the market that are great for you.
I'll preview most of the houses and eliminate the duds, and then we'll schedule appointments to view the houses whenever it's most convenient for you.
When we view homes, I'll call attention to good features, as well as negative ones. And I'll ask you to talk about things you like and don't like.
Frequently, buyers update their list of must-haves as we view houses and some features become far more crucial than others.
If that's the situation, I'll look through the listings once again and trim it down to the house you've been dreaming about.
Step 4 – Comprehend the market
My knowledge of the Medway housing market is a necessary element in your house search. I am informed of all the schools and neighborhoods, and I'll communicate what districts are "hot" and warrant immediate action and others that are "cool" and allow for more analysis.
When we tour houses, I'll let you know if the asking price has room for negotiation or if I believe the home is "priced to sell."
Every real estate agent in Medway will tell you they comprehend the housing market, but keep an eye out, and be sure to ask your agent a lot of questions.
If things don't add up, just call me at (508) 533-6100 or e-mail me at , and I'll be more than happy to answer your questions. My market knowledge will help you stay a step above the rest throughout the entire deal.
Step 5 – Find the house you've been waiting for
We'll find the home of your dreams in Medway, and when that happens, I'll meticulously develop your purchase offer. The offer will be made to suit your needs and the home. We'll include several contingencies, such as getting financing, carrying out the inspection, and a clear title.
When we send in your purchase offer, you'll likely need to present "earnest money." This is a cash deposit given to a home seller to secure the offer to buy the property. The amount is usually put towards the closing costs. If the seller accepts your offer, we should close on the home within 30 to 60 days afterward. This allows enough time for your mortgage financing.
Step 6 – Negotiate the deal
Unfortunately most contracts aren't closed on the beginning offer. It's pretty common to receive a counter offer. Don't let it alarm you. We'll discuss whether or not to agree to the counter offer, submit our own counter offer, or refuse the seller's offer and go on.
Market conditions determine how aggressively we negotiate the deal.
We'll also work within your budget. And at the end of the day, we'll compose a deal that's best for you.
Step 7 – Secure financing
Once we sign the final sales contract, you'll start working with your mortgage lender to close the loan.
If you're already pre-qualified, it shouldn't take long at all. However, you need to keep in close contact with your lender.
And I'll take care of all the property information your mortgage lender will need to close the loan.
Step 8 – Close the deal
Your mortgage lender will provide you with a Loan Estimate (LE) of your closing costs within three days of receiving your loan application. You'll get a Loan Estimate (LE) detailing closing costs from your mortgage lender within three days of receiving your loan application.
The estimate is based on the loan amount, and RESPA requirements dictate that it has to include all closing costs and be within a strict range of accuracy. I'll analyze the estimate and let you know if everything looks okay.
Then we'll close on your home. This will probably take place at a title company or escrow office and will probably be a smooth and hassle-free occasion.
Step 9 – Move in
Congratulations! Now you can move into your new house. Enjoy it. And if you need anything, simply call me at (508) 533-6100 or e-mail me at .