Buying or selling a home in North Kingstown? Greater R.I. Properties, LLC can help.

With a little up-front planning, buying a home isn't very difficult, but the event is intimidating for many people. I like to give buyers a road map of the entire deal so they'll know exactly what they can expect. Here are my nine steps to purchasing a home. If you have questions about this information or if you're prepared to get started, simply contact me here or e-mail me at .

Step 1 – Prepare to purchase a home
There are many things you need to contemplate prior to starting your home search. You'll want to create an outline of must-have features, get a plan of what neighborhoods you want to live in, and begin planning your budget. Ensuring your mortgage payment is around a third of your monthly income is a good guideline to follow.

Step 2 – Talk to a real estate agent
That's where I come in. I'd like to plan a time to meet with you and talk about your real estate needs and get an idea of your upcoming 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 get started on your loan. There are some excellent mortgage professionals in North Kingstown, and I work with a lot of them, so you'll be in great hands. They can assist you in determining which kind of loan is best for you and help you get qualified.

Step 3 – Start looking for a home
After we meet, I'll start looking for homes on the market that are a great fit for you. I'll preview many of the houses and exclude the bad ones, and then we'll book appointments to view the houses whenever it's most convenient for you.

As we tour homes, I'll show you the good features and negative ones. I'll even ask you about things you like and don't like. It's widely common for buyers to update their list of must-haves as we tour houses and some items become far more important than others. If that's the situation, I'll go back through all the listings another time and narrow it down to the house you've been dreaming about.

Step 4 – Know the housing market
My understanding of the North Kingstown home market is a necessary factor in your house search. I'm conscious of all the school districts and neighborhoods, and I will let you know what areas are "hot" and warrant immediate action and the ones that are "cool" and allow for thoughtful analysis.

When we tour houses, I'll be sure to tell you if the seller's asking price has room for bargaining or if I believe the home is "priced to sell." When working with an agent, trust your instincts and be sure to ask plenty of questions. Every REALTOR in North Kingstown will convince you they truly understand the home market. If it doesn't seem like they know everything, just call me at 401-932-9005 or e-mail me at , and I'd be glad to answer any questions you have. My market knowledge will keep you a step above the rest throughout the entire deal.

Step 5 – Find the house you've been looking for
I'm positive we'll find your dream home in North Kingstown. When we do, I'll thoroughly develop your purchase offer. The offer will be tailored keeping your needs in mind and the home, including several contingencies. A few examples are acquiring financing, completing the inspection, and a clear title.

Upon presenting your purchase offer, you'll want to submit "earnest money." This is a cash deposit made to the seller to secure an offer to purchase the property. The amount is typically applied to the cost of closing. 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
Most deals don't close on the first offer. It's extremely common to receive a counter offer. Don't let it intimidate you. We'll talk over whether or not to take the counter offer, submit our own counter offer, or refuse the seller's offer and go on.

How aggressively we negotiate the contract depends on the state of the market. In addition, we'll work within your budget. And when it's all said and done, we'll create a deal that's best for you.

Step 7 – Secure your loan
After the contract is finalized, you'll begin working with your lender to close the loan. If you're pre-qualified, this shouldn't take long at all, but you should to keep in close contact with your mortgage lender. And I'll look after all the property information your lender needs to close the loan.

Step 8 – Close the deal
You'll get a Loan Estimate (LE) of closing costs from your lender within three days of taking your loan application. The estimate is formed from the loan amount, and RESPA requirements mandate that it has to contain all closing costs and fall within a narrow range of accuracy. I'll review the estimate and let you know if it all looks good.

Then we'll close on your home. This should take place at a title company or escrow office and will most likely be a smooth and calm occurrence.

Step 9 – Move in
Congratulations! It's time to move into your new house. Enjoy it. And if you have any questions, just call me at 401-932-9005 or e-mail me at .