Buying or selling a home in North Kingstown? Greater R.I. Properties, LLC can help.
Buying a home is an intimidating event for many people. However, with a bit of planning ahead of time, it's not very difficult.
So they'll know exactly what they can expect, I like to provide buyers with a road map of the whole deal.
Below are my nine steps to buying a home.
If you have questions regarding this information or if you're ready to get started, simply contact me here or e-mail me at .
Step 1 – Get ready to buy a home
Prior to beginning your home search, there are many things you need to contemplate.
You'll probably want to make a check list of must-haves, get a plan of what neighborhoods and school districts you want to live in, and start planning your budget.
Ensuring your mortgage payment is less than or close to 30 percent of your monthly income is a good rule to adhere to.
Step 2 – Talk to a real estate agent in North Kingstown
This is where Greater R.I. Properties, LLC can help.
I'd be more than happy to set up a time to get together with you and communicate with you about your real estate needs and get an idea of your plans for the future.
We'll discuss neighborhoods, school districts in the North Kingstown area, the mortgage and housing industries, and any additional economic factors that could affect your buying decision today or in the future.
I'll also help you begin the loan process.
I work with some of the best mortgage professionals in North Kingstown, so you'll be in great hands.
They'll assist you with figuring out which type of loan is best for you and help you get qualified.
Step 3 – Start looking
After we meet, I'll begin looking for houses on the market that best suit you.
I'll research most of the homes and exclude the duds, and then we'll book appointments to tour the homes whenever it's convenient for you.
As we view the homes, I'll identify positive features, as well as bad ones. I'll also ask you about things you like and don't like.
It's widely common for buyers to amend their must-have list as we tour homes and some things become far more essential than others.
If that's the case, I'll search all the listings one more time and trim it down to the home you've been waiting for.
Step 4 – Understand the housing market
My awareness of the North Kingstown market is an imperative agent in your home search. I am informed of all the school districts and neighborhoods, and I can alert you to what areas are "hot" and call for prompt action and others that are "cool" and allow for more examination.
As we tour homes, I'll let you know when the list price has room for negotiation and also when I trust the home is "priced to sell."
When working with an agent, be careful and make sure you ask plenty of questions, as any REALTOR will tell you they comprehend the home market.
If things don't add up, just call me at 401-932-9005 or e-mail me at , and I'd be happy to answer any questions you may have. My knowledge of the market will keep you a step above the rest throughout the entire process.
Step 5 – Find your dream house
We'll find the house of your dreams in the North Kingstown area, and when we do, I'll meticulously develop your home purchase offer. The offer will be tailored exactly to your needs and the home, including several contingencies, such as getting financing, completing the home inspection, and a clear title.
Upon submitting your offer, you'll probably need to present "earnest money." This is a cash deposit given to a home seller to secure an offer to purchase the property, and it's most often put towards the cost of closing. If the offer is accepted, we should close on the property about 30 to 60 days afterward. This allows plenty of time for your mortgage financing.
Step 6 – Negotiate the deal
Unfortunately most contracts aren't closed on the first offer – it's pretty common to receive a counter offer. But don't let this intimidate you. We'll discuss whether or not to consent to the counter offer, propose our own counter offer, or decline the seller's offer and move on.
Market circumstances determine how aggressively we negotiate the contract.
We'll also work within your financing limits. And when it's all said and done, we'll create a contract that is best for you.
Step 7 – Secure your loan
After the deal is finished, you'll start working with your mortgage lender to close the loan.
If you're already pre-approved, it shouldn't take long at all, but you need to stay in close contact with your mortgage lender.
And I'll manage all the property information your lender needs to close the loan.
Step 8 – Close the deal
You'll get a Loan Estimate (LE) outlining your closing costs from your mortgage lender within three days of accepting your application.
This estimate is based on the loan amount. RESPA requirements order that it has to contain all closing costs and fall within a tight range of accuracy, and I'll study the estimate and let you know if it all looks permissible.
Then it's time to close on your house. This will probably occur at a title company or escrow office and will most likely be a smooth and calm event.
Step 9 – Move in
Congratulations! Now you can move into your new house. Enjoy it. And if you have any questions, simply call me at 401-932-9005 or e-mail me at .