Buying or selling a home?

With some up-front planning, purchasing a home isn't very hard, but the event is intimidating for many people. So they know exactly what they can expect, I will furnish buyers with a road map of the entire deal. These are my nine steps to buying a home. When you're ready to get started, simply contact me here or e-mail me at . I'm happy to address questions you have regarding this information.

Step 1 – Prepare to buy a home
Prior to starting your home search, there are many things you need to do. You'll probably want to form a checklist of items you want, get a feel for what school districts you want to live in, and begin planning around your budget. Keeping your mortgage payment less than 1/3 of your monthly income is a good rule of thumb to follow.

Step 2 – Connect with a real estate agent
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 speak with you about 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 could potentially affect your purchase today or in the future.

I'll also assist you in getting started on your loan. There are some very good mortgage professionals in North Kingstown, and I partner with a lot of them, so you can rest assured that you're in great hands. They can assist you in determining which type of loan is best for you and help you get approved.

Step 3 – Begin looking for a home
After our first meeting, I'll begin searching for available houses on the market that are great for you. I'll get a sneak peek of many of the homes and ignore the duds, and then we'll book appointments to tour the homes whenever it's convenient for you.

As we view houses, I'll call attention to good features, as well as negative ones. I'll also ask you to talk about things you like and dislike. It's pretty common for buyers to update their list of must-haves as we view houses and some features become far more crucial than others. If that happens, I'll look through the listings once more and trim it down to the home you've been waiting for.

Step 4 – Get a grasp of the market
An agent's awareness of the North Kingstown home market is an imperative component in your house search. And I assure you I'm acquainted with all the neighborhoods and schools, and I'll alert you to what districts are "hot" and warrant immediate action and others that are "cool" and allow for more examination.

As we tour homes, I'll be sure to tell you when the seller's list price has room for bargaining and when I think the house is "priced to sell." Every real estate agent will tell you they understand the market, but be wary, and be sure to ask your agent lots of questions. If it doesn't seem like they know everything, just call me at 401-932-9005 or e-mail me at , and I'll be more than happy to answer any questions you may have. My knowledge of the market will help you stay a step ahead through the entire deal.

Step 5 – Find the house of your dreams
I know we'll find the house of your dreams in North Kingstown. When that happens, I'll meticulously develop your home purchase offer. The offer will be tailored to suit your needs and the home, including several contingencies. A few examples are obtaining financing, carrying out the home inspection, and a clear title.

When we send in your offer, you'll likely need to submit "earnest money." This is a cash deposit submitted to the home seller to secure the offer to buy the property and is usually put towards the closing costs. If the offer is accepted by the seller, we should close about 30 to 60 days after. This allows enough time for your mortgage financing.

Step 6 – Negotiate
Unfortunately most deals don't close on the initial offer, and it's extremely common to receive a counter offer. But don't let it alarm you. We'll talk over whether or not to agree to the counter offer, submit our own counter offer, or decline the seller's offer and move on.

How aggressively we negotiate the contract depends on the state of the market. In addition, we'll work within your financing limits. And at the end of the day, we'll assemble a contract that works well for you.

Step 7 – Obtain financing
Upon completion of the deal, you'll start working with your lender to close the loan. If you're pre-qualified, it won't be a long process at all. But you'll need to stay 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) detailing closing costs from your lender within three days of getting your application. This estimate rests on the loan amount. RESPA requirements mandate that it has to involve all closing costs and be within a tight range of accuracy, and I'll go over the estimate and let you know if everything looks good.

Then it's time to close on your house. This should happen at a title company or escrow office and will most often be a smooth and easygoing occasion.

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