We are always here to guide you through every step of the home buying process...

 

1. Hire an Experienced REALTOR®

  • Not just an agent, a REALTOR® is a real estate professional who is a member of the NATIONAL ASSOCIATION OF REALTORS® and subscribes to its strict Code of Ethics.

  • Carolyn is a broker and will soon own Host of Homes Realtors, we both are ABR's Accredited Buyers Representatives, SRS's Seller Representative Specialists and I am an MRP Military Relocation Professional. We are licensed in RI, CT, and MA. Together for almost 20 years, we are full-time husband and wife team from Pascoag, RI. CLICK HERE

  • Ask the real estate professionals you interview about buyer's representation contracts and agreements; make sure you understand the terms.

  • Explain your needs and expectations to the real estate professional you choose to work with.

2. Get Ready for Home Ownership 

  • Build a good credit history.

  • Get mortgage pre-approval. CLICK HERE

  •  Find out what type of mortgages you qualify for.

  • Consider hiring an attorney to review all contracts and agreements associated with the home buying process

  • Save up for a down payment. Discuss what will be needed by your lender.

    • Consider closing costs which can include taxes, attorney’s fees, and transfer fees.

    • Consider utilities and monthly bills, such as homeowner's assessments.

3. Find Your Dream Home

  • Determine what is important to you, such as schools, neighborhood, traffic, proximity to friends and relatives, mortgage payment, etc.

  • Make sure you include PITI, Property, Interest, taxes, and Insurance when calculating the monthly mortgage payment, your lender will help you. CLICK HERE

  • Have your agent set up an automated MLS (Multiple Listing Service) emails to search out new and current properties that match your exact criteria. You will also know when properties come back on the market and fall into your price range.

4. Financing

  • Contact your mortgage broker or lender.

  • The lender or attorney will run a title search to ensure there are no clouds on the title.

  • Make sure you understand the financing terms—ask the lender for clarification if needed.

  • Get a letter that matches the exact amount you are offering from your lender, even if you are qualified for more.

5. Make an Offer

  • Ensure the property is inspected by a licensed home inspector, in RI there is no certification, your Realtor should know who is reliable.

  • Acquire title insurance.

  • Make sure the title is clear, or make your offer contingent upon title clearance.

  • Read all contracts before signing—make sure you understand all of the terms, ask questions.

  • Place a competitive bid and be prepared to make a counter-offer.

  • Keep your credit score stable and in-check by waiting to purchase any big-ticket items until long after the closing.

  • Only one offer will result in a sale, so be prepared to move on if your offer is not accepted.

6. Post Closing

  • Protect your new asset by obtaining insurance such as homeowner’s, flood, disaster, and fire.

  • Weatherproof your new home.

  • Maintain files—digital or print—for all warranties, insurance documents, contracts, etc.

  • Keep original closing. documents in a safe place, preferably outside the home (such as a safety deposit box)

  • Set up utility bills in your name, maintain files.

  • Implement desired aesthetic changes such as painting, minor construction, and re-flooring.

  • Set a move date and hire movers or plan a moving party with your friends.

  • Get to know your neighbors and explore your new neighborhood.

  • If you're happy with the work of your Realtor® recommend her/him to friends and family. Give a positive review.