Buying a new home in Fall River

Purchasing a home is stressful for many people, but it isn't all that complex with a little planning ahead of time. I like to give buyers an outline of the whole deal so they'll understand exactly what they can expect. These are my nine steps to purchasing a home. When you're ready to get started, just contact me here or e-mail me at . I'm glad to answer questions you have about this information.

Step 1 – Prepare to buy a home
Before you begin your home search, there are several things you should take into account. You'll most likely want to put together an index of must-have features, get a plan of what school districts and neighborhoods you'd like to live in, and begin planning your budget. A good rule to go by is that your mortgage payment should be no more than 30 percent of your net monthly income.

Step 2 – Get in touch with a real estate agent in Fall River
This is where E Z Home Search Real Estate Inc. comes in. I'd be happy to plan 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 talk about everything from neighborhoods, schools in the Fall River area, the mortgage industry, to any other economic factors that might affect your buying decision today or in the future.

I'll also help you get started on your loan. E Z Home Search Real Estate Inc. works with some of Fall River's best mortgage professionals, so you're in great hands. They will help you determine which kind of loan is best for you, as well as help you get qualified.

Step 3 – Start house hunting
After our initial meeting, I'll begin finding available homes on the market that are great for you. I'll get a sneak peek of most of the homes and ignore the duds, and then we'll book appointments to view the houses when it's most convenient for you.

When we tour homes, I'll point out good features, as well as negative ones. I'll even ask you to point out what things you like and don't like. Generally, buyers change their must-have list as we view homes and some things become more substantial than others. If that happens, I'll go back through the listings once more and narrow it down to the house you've been wishing for.

Step 4 – Know the housing market
My understanding of the Fall River home market is a crucial component in your house search. I'm acquainted with all the schools and neighborhoods, and I'll communicate which areas are "hot" and require prompt action and the ones that are "cool" and allow for more consideration.

When we view houses, I'll let you know when the list price has room for bargaining and when I believe the house is "priced to sell." Trust your instincts and make sure you ask your agent a lot of questions, as every real estate agent in Fall River will tell you they truly know the housing market. If it doesn't seem like they know everything, call me at (508) 646-4777 or e-mail me at , and I'll be more than happy to answer any questions you may have. My market knowledge will keep you a step above the rest through the entire deal.

Step 5 – Find the house you've been looking for
I'm sure we'll find your dream home in the Fall River area. When we do, I'll meticulously develop your real estate purchase offer. The offer will be made to suit your needs and the home. We'll include many contingencies, such as acquiring financing, carrying out the home inspection, and a clear title.

When submitting your offer, you'll probably want to present "earnest money." This is a cash deposit given to the seller to secure an offer to purchase the property. The amount is usually applied to the closing costs. If the seller accepts the offer, we should close about 30 to 60 days afterward. This allows sufficient time for your mortgage financing.

Step 6 – Negotiate the deal
A lot of deals aren't closed on the beginning offer. It's really common to receive a counter offer. Don't let this alarm you. We'll talk over whether or not to accept the counter offer, submit our own counter offer, or decline the seller's offer and go on.

How aggressively we negotiate the deal depends on market conditions. We'll also work within your financing limits. And when it's all said and done, we'll compose a contract that is best for you.

Step 7 – Obtain your loan
After we sign the final contract, you'll begin working with your mortgage lender to close the loan. If you're already pre-approved, it won't take much time at all. But you'll need to keep in close contact with your lender. And I'll handle all the property information your mortgage lender will need to close the loan.

Step 8 – Close the deal
You'll get a Loan Estimate (LE) outlining closing costs from your lender within three days of accepting your application. This estimate rests on the loan amount, and RESPA requirements dictate that it has to involve all closing costs and fall within a close range of accuracy. I'll analyze the estimate and let you know if it all looks adequate.

Then we'll close on your house. This will most likely happen at a title company or escrow office and will most often be a smooth and pleasant affair.

Step 9 – Move in
Congratulations! It's time to move into your new home. Enjoy it. And if you need anything or have any questions, just call me at (508) 646-4777 or e-mail me at .

Looking to Buy?

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