Step 1: Figure out how much you can afford. This depends on your income, credit score, current monthly expenses, the cash you have on hand for down payment, closing costs and property taxes. Your real estate agent will help you come up with a realistic amount.

Step 2: Shop for a loan. Talk to several lenders. Consider getting pre-approved for a loan. Pre-approval will help you a lot when you make your offer. An agent can help you compare terms, costs and interest rates, negotiate a better deal.

Step 3: Figure out what kind of house and features you want. Think about the neighborhood, home style preference, transportation, community services, tax rates, school system, etc.

Step 4: Choose a real estate agent. My name is Arif Askerov. I can be your Buyer Agent in Framingham – MetroWest area. I will provide you access to the information about hundreds homes and condos for sale in the Metrowest area as well as community information, open house listings, recent sales transactions, realistic market analysis and much more.

Step 5: Make an offer. You finally found the property that you like and are ready to buy. Discuss the offer process with your real estate agent. If the seller counters your offer, you may need to negotiate until you both agree to the terms of the sale. Paperwork needed for this step is offer, pre-approval letter and $1000 personal check.

Step 6: Get a home inspection. The inspection will tell you about the condition of the home, and can help you avoid buying a property that needs major repairs.

Step 7: Sign you Purchase and Sale Agreement (P&S). This is an important document, that includes all dates, contingencies and money that you will pay for your new home. Be sure to read and understand everything before you sign! The best way is to get a real estate attorney to work with the Seller or Seller’s attorney preparing P&S and to finalize all next steps of this transaction.

Step 8: Homeowners insurance. Lenders require that you have homeowners insurance. Be sure to shop around.

Step 9: Closing. You are finally ready to go to “closing”. Remember, for this last step your mortgage agent must provide a Commitment Letter. Commitment Letter means that you will get funds necessary to buy the house. On the closing be sure to read and understand everything before you sign!

Are you planning to buy a house? Let’s do it! Contact Arif Askerov for details. (508)-243-4251.