Buying a homecan be intimidating, but with a bit of up-front planning,we simplify the process. I like to give buyers a plan and step by step process of the whole transaction so they'll know exactly what they can expect. Here are my nine steps to buying a home.
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 | When you're ready to get started, simply contact me here or send e-mail to scillafitz@gmail.com. I'm glad to address questions you have regarding this information. | | |
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Step 1 – Prepare to buy
Before you begin searching for a home, GO GET A PRE-APPROVAL FROM A LENDER!! There is not any point in looking for a home until you have that certificate in your hand! After that, there are many things you should contemplate. When you begin your search, you'll probably want to form a list of items you want to have, get an idea of what school districts and neighborhoods you want to live in, and start planning around your budget. Keeping your mortgage payment less than a third of your monthly income is a good rule to follow.
Step 2 – Communicate with a real estate agent
This is where Fitzgerald & Associates Real Estate comes in. I'd be happy to schedule a time to chat with you regarding what your long term goals are regarding your home. Will this house be a stepping stone to a new home or will this be your only and forever.
Step 3 – Start looking for a home
After our first meeting, I will begin the process of locating the home that best suits your wants and needs and secret desires! Sometimes the perfect home has been waiting for you to surface.
When we view the houses, I'll point out good features and negative ones. And I'll ask you what things you like and don't like. It's pretty common for buyers to update their wish list as we tour houses and some things become more important than others. If that's the case, I'll search the listings once again and trim it down to the home of your dreams.
Step 4 – Understand the housing market
My knowledge of the area's home market is a valuable resource in your search. I have a BUYER'S SAFETY LIST so you can research the environment of the area you are thinking of.
As we tour houses, I'll be sure to tell you when the seller's list price has room for negotiation and also when I trust the home is "priced to sell." When working with an agent, be mindful and make sure you ask a lot of questions. Every real estate agent will claim to truly know the housing market. If it doesn't seem like they know everything, call me at 9786644709 or e-mail me at scillafitz@gmail.com, and I'll be more than happy to answer any questions you might have. My knowledge of the market will keep you a step ahead throughout the entire deal.
Step 5 – Find the house you've been waiting for
We'll find the house of your dreams in the North of Boston area, and when that happens, I'll thoroughly create your home purchase offer. The offer will be written to suit your needs. Whenever necessary, I never forget to make contracts contingent upon items like your ability to secure financing and the results of the home inspection. We'll include a letter to the Seller telling them why this is the perfect house for you and how happy you will be to live there.
Upon sending in your offer, you'll need to submit "earnest money " usually a check for $500.00. This is a cash deposit given to a seller to secure the offer to buy the property, and it's usually applied to the cost of closing. If the offer is accepted by the seller, we would have a home inspection within 10 days. During this 10 day period it is your opportunity to discover all the information you need about the property. At the end of 10 days, you will need a 5% deposit with the purchase and sale agreement. If all goes according to our plan, you can expect to close 30 to 45 days from then.
Step 6 – Negotiate the deal
Most contracts don't close on the initial offer – it's widely common to receive a counter offer. Don't let it alarm you. We'll discuss whether or not to accept the counter offer, present our own counter offer, or reject the seller's offer and move on.
Market circumstances will play a big part in how aggressively we negotiate the contract. In addition, we'll work within your financing limits. And when it's all said and done, we'll formulate a contract that works well for you.
Step 7 – The Home Inspection - After your offer is accepted but prior to the signing of a purchase and sale agreement, you will contact a Mass. licensed home inspector to inspect both the interior, exterior and systems of the house you have negotiated on. I will be present at the home inspection to guide you during the inspection, ask for further explanation of items that are questionable and negotiate with the seller should it become necessary. With over 40 years experience, I will use my expertise to guide you.
Step 8 – Secure a loan
Upon completing the deal, you'll begin working with your mortgage lender to close the loan. If you're pre-qualified, it shouldn't take very long at all, but you should 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.
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Then it's time to close on your house. This will probably take place at the bank attorney's office. Everything up to this point has been in preparation of this day and the day will be uneventful and stress free.
Step 9 – Move in
Success! It's time to move into your new home. Enjoy it. And if you have any questions, be sure to contact me at 9786644709 or send me an e-mail.
