Buying or selling a home?

Purchasing a home is an intimidating event for most people, but it isn't too hard with some planning ahead of time. So they'll understand exactly what to expect, I'll furnish buyers with an outline of the whole deal. Here are my nine steps to purchasing a home. If you have questions regarding 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
Before you start looking for a home, there are many things you need to contemplate. You'll probably want to form a check list of features you need, get an idea of what neighborhoods and school districts you'd like to live in, and start working on your budget. Keeping your mortgage payment less than or around a third of your net monthly income is a good rule to go by.

Step 2 – Get in touch with a real estate agent
This is where Greater R.I. Properties, LLC can help. I'd like to arrange a time to get together with you and speak with you regarding why you want to buy a home and get an idea of your future plans. We'll talk about everything from neighborhoods, school districts in the North Kingstown area, the mortgage industry, to any other economic factors that may potentially affect your purchase today or in the future.

I can also help you start the loan process. I work with some of the finest mortgage professionals in North Kingstown, so you can rest assured that you're in great hands. They'll help you figure out which kind of loan is best for you, as well as help you get approved.

Step 3 – Begin your home search
After we meet, I'll start finding houses on the market that best suit you. I'll get a sneak peek of many of the homes and ignore the duds, and then we'll schedule appointments to view the homes when it's convenient for you.

As we tour houses, I'll call attention to good features and bad ones. I'll even ask you about things you like and don't like. It's pretty common for buyers to change their must-have list as we tour homes and some items become more crucial than others. If that's the case, I'll look through the listings one more time and trim it down to the home you've been wishing for.

Step 4 – Know the housing market
An agent's awareness of the North Kingstown housing market is an imperative agent in your home search. And I assure you I'm mindful of all the neighborhoods and schools, and I will let you know some neighborhoods are "hot" and demand prompt action and some that are "cold" and allow for thoughtful consideration.

When we view houses, I'll make sure to communicate when the list price has room for negotiation and when I know the home is "priced to sell." Trust your instincts and be sure to ask your agent a lot of questions, as any real estate agent will tell you they understand the housing market. If things don't add up, just call me at 401-932-9005 or e-mail me at , and I'll be more than happy to answer your questions. My market expertise will help you stay a step above the rest throughout the entire process.

Step 5 – Find your dream house
We'll find your dream home in the North Kingstown area, and when we do, I'll thoroughly develop your home purchase offer. The offer will be tailored to suit your needs and the home, including several contingencies. A few examples are getting financing, completing the home inspection, and a clear title.

Upon turning in your offer, you'll need to present "earnest money." This is a cash deposit made to a seller to secure the offer to purchase the property. The amount is often applied to the closing costs. If the seller accepts the offer, we should close on the home within 30 to 60 days afterward. This allows sufficient time for your mortgage financing.

Step 6 – Negotiate
Unfortunately most deals don't close on the initial offer, and it's widely common to receive a counter offer. Don't let this discourage you. We'll talk over whether or not to consent to the counter offer, present our own counter offer, or decline the seller's offer and move on.

Market circumstances determine how aggressively we negotiate the deal. In addition, we'll work within your budget. And when it's all said and done, we'll create a contract that works well for you.

Step 7 – Obtain financing
Once we sign the final deal, you'll start working with your lender to close the loan. This won't take much time at all if you're pre-approved, but you'll need to keep in close contact with your mortgage lender. And I'll look after all the property information your lender will need to close the loan.

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

Then we'll close on your home. This will most likely occur at a title company or escrow office and will probably be a smooth and relaxing event.

Step 9 – Move in
Congratulations! Now you can move into your new home. Enjoy it. And if you need anything, simply contact me at 401-932-9005 or e-mail me at .