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We can facilitate your property search.

 

 

1.Hire "A Prime Choice RE Agent" as your real estate professionals. The first step is for us to help you find your dream home and fine-tune your financial expectations. Working with a buyer's agent is worth consideration since I am legally responsible for representing the buyer's interest in a real estate transaction. I can guide you through every step to buying a home.


2.Shop for mortgage rates and terms. A difference of even half a percentage point can make a huge difference in how much you pay over the life of a loan. For example, the difference in the monthly payment on a $100,000 mortgage at 8 percent vs. 7.5 percent is about $35 per month. Over 30 years, that's $12,600.


3.Prequalify for a loan. Your third step should be to get prequalified, which determines how much you can afford. It allows you to move swiftly when you find the right home, especially when there are other interested buyers. It also indicates to the seller that you are serious and really can afford to buy.


4.Define what you want. The next step is to create a realistic idea of the property you'd like to buy. What features are most important to you? Make two lists: one of the items you can't live without and one of the features you would enjoy. Refine the lists as you house hunt. It is also helpful to search online to see what is currently available on the market. We can then show you houses that meet your expectations.


5.Visit properties. Now you're ready to visit houses. We will arrange showings, and keep track of the properties you've seen.


6. Know the features that help or hurt resale. In some areas, a swimming pool actually detracts from a home's value and makes it harder to sell. In neighborhoods with two-car, attached garages, a single-car or detached garage may impact the home sale and future value. I can point out features that hurt, and those that help, resale value.


7.Rate the houses you tour. After touring each home, write down what you liked and didn't like. Develop a rating system that will help narrow the field down. For example, pick the house you like best on day one and compare all other houses to it. When you find a better one, use the new favorite as the standard.


8.Make an offer. Once you've pinpointed the right house, it's time to get serious about the financial and contractual side of the purchase. Our help will be a strong advantage since you and the seller have different goals


9.Arrange for a home inspection. After your offer is accepted, set up a home inspection. It's common to find problems, including leaky roofs, cracked walls, insect infestations and foundation problems. Your real estate professional can help find a reputable inspector, and will negotiate to get you the most for your money once the inspector's report is final. If you negotiate repairs as part of the purchase, ask for a "walk through" before finalizing the paperwork. Ask me about home protection plans, which may save you money in the near future.


10.Close. Before your closing date, we will make sure you've made all necessary deposits and completed the paperwork - including mortgage, title, homeowners insurance and any other paperwork required by local or state governments.


11.Prepare for life in your new home. Before rolling out the welcome mat, consider some moving basics: arranging for an alarm company, turning on electricity, water and gas, cleaning or replacing the carpet, and notifying your local post office of your new address.

 


Here are a few options for holding title.

 

Sole Ownership: Sole ownership is when one individual holds all rights to the house. This is most often used by single people buying a house, but can also be used when a married couple purchases a house if one member of the couple signs a document called a “quit claim deed” which denies the spouse rights to the property.

 

Joint Tenancy with Right of Survivorship: Here, two or more people hold title together. Each owner has equal rights to the property as a whole. If one of the co-owners dies, the rights go to the remaining owners, not to the deceased individual’s heirs.

 

Tenancy in Common In Tenancy in Common, multiple people can hold different portions of the property. Any owner can sell their share of the property away to another individual. Because of the obvious complications this may cause, it is wise to have a written agreement between the parties about the exact procedures for transferring or selling each individual’s share of the property.

 

Tenancy by the Entirety: This type of holding title is available in some states and allows for married couples to hold title together. The couples must make all decisions jointly. When one spouse dies, the other gets full title of the property.

 

Community Property: Husband and wife each own half of the property. Each may will their half to whomever they wish. If the applicable state has community property holding title with the right of survivorship, the surviving member of the couple owns the entire property.

 

Trust/Corporation: Additionally, title may be held by a trust or corporation, in which the legal entity is the owner of the house, not the individual. This option may allow for tax benefits to the creators of the trust or corporation.

 

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