Contemplating purchasing your home on the south shore or Boston area or Milton ?
Buying a home can be stressful for many people, but with a little up-front planning, it's not too complicated.
So you know exactly what to expect, I like to furnish my buyers with an overview of the whole deal.
These are my nine steps to purchasing a home.
If you have questions regarding this information or if you're prepared to get started, simply contact me here or send e-mail to PaulRege@kelleyrege.com
Step 1 – Get ready to buy
Prior to beginning your home search, there are several things you'll want to take into account.
You'll want to assemble an index of must-have features, get a plan of what neighborhoods and school districts you want to live in, and begin planning your budget.
A good rule to adhere to is that your mortgage payment should be less than 30 percent of your net monthly income.
Step 2 – Speak with a real estate agent in Milton
This is where Kelley & Rege Properties, Inc comes in.
I can arrange a time to meet 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 other economic factors that could potentially affect your purchase today or in the future.
I can also assist you in getting started on your loan.
There are some very good mortgage professionals in Milton, and I work with a lot of them, so you can rest assured that you're in great hands.
They'll help you determine which kind of loan is best for you, as well as help you get approved.
Step 3 – Begin looking for a house
After we meet for the first time, I'll start searching for homes on the market that are great for you.
I'll get a sneak peek of many of the homes and exclude the bad ones, and then we'll book appointments to tour the homes whenever it's convenient for you.
As we tour homes, I'll call attention to good features, as well as negative ones. I'll even ask you to tell me about things you like and don't like.
Oftentimes, buyers revise their wish list as we tour homes and some features become far more important than others.
If such is the case, I'll search the listings again and narrow it down to the home of your dreams.
Step 4 – Understand the housing market
Your agent's understanding of the Milton market is an essential factor in your home search. And I can assure you I'm familiar with all the neighborhoods and school districts, and I will alert you to what areas are "hot" and warrant prompt action and the ones that are "cold" and allow for thoughtful examination. Market snap shot
When we view homes, I'll be sure to tell you when the asking price has room for bargaining and when I know the house is "priced to sell."
Every real estate agent in Milton will tell you they comprehend the home market, but beware, and make sure you ask your agent plenty of questions.
If it seems like they don't know everything, call me at (617) 696-6100 or e-mail me at Info@kelleyrege.com, and I'd be happy to answer any questions you have. My market knowledge will help you stay a step above the rest through the entire process.
Step 5 – Find your dream house
I'm certain we'll find the home of your dreams in the Milton area. When we do, I'll precisely create your home purchase offer. The offer will be tailored keeping your needs in mind, including many contingencies. A few examples are getting financing, carrying out the home inspection, and a clean title.
When sending in your purchase offer, most likely you'll need to present "earnest money." This is a cash deposit submitted to a seller to secure an offer to purchase the property and is most often applied to the cost of closing. If your offer is accepted by the seller, we should close on the property about 30 to 60 days afterward. This allows enough time for your mortgage financing.
Step 6 – Negotiate
Unfortunately most contracts aren't closed on the beginning offer, and it's really common to receive a counter offer. Don't let this discourage you. We'll figure out whether or not to accept the counter offer, present our own counter offer, or refuse the seller's offer and go on.
How aggressively we negotiate the contract depends on market circumstances.
In addition, we'll work within your financing limits. And when it's all said and done, we'll compose a deal that works well for you.
Step 7 – Obtain financing
Upon signing the contract, you'll begin working with your lender to close the loan.
It shouldn't take much time at all if you're pre-approved, but you need to keep in close contact with your mortgage lender.
And I'll handle all the property information your mortgage lender needs to close the loan.> Pre Approved
Step 8 – Close the deal
You'll get a Good Faith Estimate (GFE) of your closing costs from your lender within three days of taking your application.
The estimate rests on the loan amount, and RESPA requirements mandate that it has to involve all closing costs and be within a precise range of accuracy. I'll examine the estimate and let you know if it all looks okay.
Then we'll close on your house. This will most likely happen at a title company or escrow office and will likely be a smooth and easygoing event.
Step 9 – Move in
Congratulations! It's time to move into your new house. Enjoy it. And if you need anything, make sure you contact me at (617) 696-6100 or send me an e-mail.