Purchasing your new home in North Kingstown

Buying a home intimidates many people, but it's not that hard with a little up-front planning. So they understand exactly what to expect, I'll give buyers an outline of the whole deal. Here are my nine steps to purchasing a home. If you have any questions about any of this information or if you're prepared to get started, you can contact me here or e-mail me at .

Step 1 – Get ready to buy
There are plenty of things you should consider before you start looking for a home. When you begin your search, you'll want to form a check list 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. Keeping your mortgage payment less than or close to 30 percent of your net monthly income is a good rule of thumb to adhere to.

Step 2 – Speak with a real estate agent
That's where I can help. I'd like to schedule a time to get together with you and communicate with you regarding why you want to buy a home and get an idea of your plans for the future. We'll discuss everything from neighborhoods, school districts in the North Kingstown area, the mortgage industry, to any other economic factors that might affect your buying decision today or in the future.

I can also help you get started on your loan. I work with some of North Kingstown's best mortgage professionals, so you can rest assured that you're in great hands. They will help you decide which type of loan is best for you, as well as help you get qualified.

Step 3 – Begin looking
Following our initial meeting, I'll start looking for homes on the market that best suit you. I'll get a sneak peek of many of the houses and reject the bad ones, and then we'll book appointments to view the homes when it's most convenient for you.

As we tour the homes, I'll identify positive features and negative ones. I'll even ask you about things you like and don't like. Frequently, buyers revise their list of must-haves as we tour houses and some features become more crucial than others. If that's the case, I'll go back through all the listings again and narrow it down to the home you've been waiting for.

Step 4 – Know the market
Your agent's understanding of the North Kingstown market is a necessary agent in your house search. And I assure you I'm acquainted with all the neighborhoods and school districts, and I can alert you to what districts are "hot" and demand immediate action and the ones that are "cool" and allow for more analysis.

When we tour houses, I'll let you know when the list price has room for negotiation and also when I believe the house is "priced to sell." Every real estate agent in North Kingstown will claim to comprehend the market, but beware, and be sure to ask a lot of questions. If it doesn't seem like they know everything, contact me at 401-932-9005 or e-mail me at , and I'll be glad to answer your questions. My knowledge of the market will keep you a step above the rest throughout the entire process.

Step 5 – Find the home of your dreams
We'll find the home of your dreams in the North Kingstown area, and when that happens, I'll meticulously develop your purchase offer. The offer will be tailored with your needs in mind and the home, including many contingencies, such as acquiring financing, finishing the inspection, and a clear title.

Upon sending in your purchase offer, most likely you'll want to submit "earnest money." This is a cash deposit made to a home seller to secure the offer to purchase the property, and it's usually applied to the cost of closing. If the seller accepts the offer, we should close on the property about 30 to 60 days after. This allows plenty of time for your mortgage financing.

Step 6 – Negotiate
Unfortunately most contracts don't close on the initial offer. It's extremely common to receive a counter offer. But don't let this alarm you. We'll figure out whether or not to consent to the counter offer, present our own counter offer, or refuse the seller's offer and move on.

Market conditions determine how aggressively we negotiate the deal. We'll also work within your financing limits. And at the end of the day, we'll create a deal that's best for you.

Step 7 – Get financing
Once we sign the final deal, you'll begin working with your mortgage lender to close the loan. If you've been pre-qualified, it won't take very long at all, but you should to keep in close contact with your lender. And I'll sort out all the property information your lender will need to close the loan.

Step 8 – Close the deal
Your lender will furnish you with a Loan Estimate (LE) detailing your closing costs within three days of taking your loan application. You'll get a Loan Estimate (LE) of your closing costs from your mortgage lender within three days of getting your application. The estimate is based on the loan amount, and RESPA requirements require that it has to contain all closing costs and be within a strict range of accuracy. I'll study the estimate and let you know if everything looks okay.

Then we'll close on your home. This will most likely happen at a title company or escrow office and will most likely be a smooth and relaxed occasion.

Step 9 – Move in
Congratulations! Now you can move into your new house. Enjoy it. And if you have any questions, be sure to call me at 401-932-9005 or e-mail me at .