Purchasing your home in Medway with Betty McCall-Vernaglia

Purchasing a home intimidates most people, but it's not that difficult with a little up-front planning. I like to furnish buyers with an overview of the whole deal so they'll know exactly what to expect. Below are my nine steps to purchasing a home. If you have any questions about any of this information or if you're ready to get started, simply contact me here or e-mail me at .

Step 1 – Get ready to purchase a home
There are several things you should take into account prior to beginning your home search. You'll probably want to put together a checklist of items you need, get a plan of what school districts and neighborhoods you'd like to live in, and begin planning around your budget. A good guideline to adhere to is that your mortgage payment should be less than a third of your monthly income.

Step 2 – Contact a real estate agent in Medway
That's where I can help. We can arrange 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 everything from neighborhoods, schools 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.

In addition, I'll assist you with getting started on your loan. Betty McCall-Vernaglia partners with some of Medway's finest mortgage professionals, so you'll be in great hands. They can help you figure out which kind of loan is best for you, as well as help you get approved.

Step 3 – Start your home search
After our initial meeting, I'll start searching for available houses on the market that best suit you. I'll get a sneak peek of most of the houses and throw out the bad ones, and then we'll book appointments to view the houses at a time that's convenient for you.

As we tour the homes, I'll point out good features, as well as negative ones. I'll also ask you what things you like and don't like. It's widely common for buyers to revise their list of must-haves as we view houses and some things become more crucial than others. If such is the case, I'll go back through the listings another time and narrow it down to the home you've been dreaming about.

Step 4 – Know the housing market
An agent's awareness of the Medway home market is a necessary component in your home search. And I assure you I'm acquainted with all the schools and neighborhoods, and I will alert you to some neighborhoods are "hot" and require prompt action and others that are "cold" and allow for careful consideration.

As we view houses, I'll let you know when the list price has room for bargaining and when I trust the home 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 in Medway will convince you they comprehend the home market. If it seems like they don't know everything, call me at (508) 533-6100 or e-mail me at , and I'll be happy to answer any questions you have. My understanding of the market will help you stay a step ahead through the entire process.

Step 5 – Find the home of your dreams
I know we'll find the home of your dreams in the Medway area. When we do, I'll meticulously create your purchase offer. The offer will be tailored to suit your needs and the home, including many contingencies. A few examples are acquiring financing, carrying out the inspection, and a clear title.

Upon sending in your offer, you'll want to submit "earnest money." This is a cash deposit submitted to a home seller to secure an offer to buy the property, and it's often put towards the closing costs. If the offer is accepted by the seller, we should close on the home within 30 to 60 days after. This allows sufficient time for your mortgage financing.

Step 6 – Negotiate the deal
Most contracts don't close on the first offer – it's pretty common to receive a counter offer. Don't let this alarm you. We'll talk about whether or not to accept the counter offer, propose our own counter offer, or refuse the seller's offer and move on.

Market circumstances determine how aggressively we negotiate the deal. We'll also work within your financing limits. And when it's all said and done, we'll assemble a deal that works well for you.

Step 7 – Secure a loan
Once we sign the final deal, you'll start working with your mortgage lender to close the loan. If you've been pre-qualified, this won't take long at all. However, you need to stay in close contact with your lender. And I'll care for all the property information your lender will need to close the loan.

Step 8 – Close the deal
You'll get a Loan Estimate (LE) of closing costs from your mortgage lender within three days of taking your loan application. The estimate depends on the loan amount, and RESPA requirements mandate that it has to contain all closing costs and be within a strict range of accuracy. I'll examine the estimate and let you know if everything looks good.

Then it's time to close on your house. This will probably happen at a title company or escrow office and will likely be a smooth and relaxing occasion.

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, simply call me at (508) 533-6100 or e-mail me at .

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