Buyers

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Ask The Realtor!

What should I do to get ready to buy a house?

First and foremost, get a satisfactory pre-approval letter from a reputable and reliable lender. It should be subject only to a satisfactory appraisal and a purchase and sale agreement. I have a list of trusted lenders that I would be happy to share with you. I have seen a lot of bait and switch on rates and closing costs, and many lenders who simply do not live up to the promises they make when they start doing business with the buyer. I can not overemphasize how important it is to do business with any of the people I know, because when a problem arises (they always do!) these people will be responsive to us and the team of attorneys, surveyors, title examiners and appraisers that work with that lender. If you can learn from other people’s mistakes, please learn from the many people I have worked with over the years who report that they wish they had not worked with someone unknown to me. Remember, if your bank is not prepared to close on closing day, you will be in default, and your deposit of five percent will be forfeited. Again, I’d be glad to provide a list of people who wish they had taken this advice and incurred a lot of undue stress. This is likely to be the piece of advice you are most likely to ignore, but at least I’ll sleep at night knowing I tried to help you avoid the problems you may encounter with a stray lender.

If you already own a house, your pre-approval letter should say that you are qualified to bridge if your home is not sold. If you choose not to bridge, or don’t qualify for a bridge, you may want to consider making an offer with a 48-hour kick-out clause, which would mean the sellers could come to terms with you but would continue to market their property. Should the seller receive a bonafide offer, you would have 48 hours to either drop your contingency to sell your home, or to waive it and go forward under the terms of your offer.

Your Neighborhood Realtor
Kristy B.

Open House Pre-Games are back!

Spring buyers… Get your game on!

When: Sunday mornings 10-11:30 a.m.

Where: RE/MAX Heritage 536 Main Street, Melrose

What: Every Sunday, from 10-11:30 a.m., stop by our new cutting edge office in downtown Melrose to get a winning game plan. Pick up an open house list, area maps, community information and more to help you get the most out of your tours of local open houses.
If you are a current client or someone looking for buyer representation,
contact me ahead of time for a more detailed list of properties to visit and suggested routes that will help you cover the most ground in the least amount of time.
First time home buyers are encouraged to stop by for a free buyer’s
consultation and to meet with a mortgage broker to get pre-approval – a step critical to almost any home search. Current home owners are also welcome to stop by and test the waters, or speak to a mortgage broker about refinancing.
Whatever you’re looking for in your next home, stop by before heading
out on the open house trail. Fill your coffee mug on us and pick up a
complimentary open house survival kit – bottled water to keep you
hydrated, granola bars for energy, maps to keep you on track, and much more.

Your Neighborhood Realtor
Kristy B.

Ask The Realtor!

What do I need for deposit money?

This question is typically asked by first-time homebuyers as well as buyers who have something to sell. The first thing I can say about the deposit money is to arrange to have it now, so it will be ready when you need it, particularly if your money is tied up in your current home. Even if you are expecting 100 percent financing, it is unlikely that a seller will accept your offer without a “good faith deposit” or earnest monies. Traditionally, 5% of the purchase price is given as a remaining deposit on the home at the time that you sign your purchase and sale (minus your good faith deposit); however, some towns have a norm of 10% of the purchase price. If you need to take a home equity loan out the bank will not give you a home equity loan if you house is on the market. You must get a home equity loan before the sign is in the ground or your property is listed in MLS.

Kristy B.
Your Neighborhood Realtor

Announcing: Ask The Realtor!

Have a question about Real Estate, your community or market trends?
Join me each Thursday when your questions will be answered!

Whether I’m at a party, playdate or the supermarket, I’m typically asked the same questions — How is the market? Is it a good time to buy? How much do you think my house is worth? I quickly realized that it’s not just active buyers and sellers that are curious… everyone wants to know how the Real Estate market is affecting them. This is what inspired me to to create this new series on my blog. Throughout the week I will compile a few questions that I am asked and answer them here on the blog so you have them to always refer to.

Here’s how we are going to do it…..

• You can leave a comment on the blog (under any post)

OR

• You can email me by clicking the snazzy email button in the right hand column of the blog.

Submit your questions today! It will be totally anonymous. Need more resources? Visit my website to download FREE market trends reports!

Kristy B.
Your Neighborhood Realtor

Home Resources: Kristy’s All-Stars

Looking for a great plumber, electrician or contractor? Maybe you need a mortgage broker, an accountant or an appraiser? Look no further than my real estate Dream Team!

I’ve put together a guide full of great resources that you can count on, now at your finger tips and all in one place. This is a list of professionals that I have used myself and am now happy to share with you.

Would you like to be on this list, or do you know someone who is worthy of your referral? Please let me know and I’d be happy to consider adding their information to my list.

Kristy B.
Your Neighborhood Realtor

Community Resources

“Love makes a house a home” ~unknown

Being a Realtor and marketing properties involves how I present the community to potential buyers. It is my responsibility not only to maximize the great features of a home, but also to let buyers know about the great qualities of the community, schools, local parks, etc.

Here are a few resources to help you make your community home as well.

Medford Family Network
Marie Cassidy
www.medford.k12.ma.us ~ 781.393.2106

North Suburban Family Network
Melrose, Stoneham and Wakefield
Franklin School
www.hallmarkhealth.org/northsuburban.html
~ 781.662.2722
nsfamilynet@hallmarkhealth.org

Malden Everett Family Network
781.322.2277

YMCA of Malden
ymcamalden.org ~ 781.324.7680

YMCA of Reading
ymcaboston.org/burbank ~ 781.944.9620

YMCA of Melrose
ymcamalden.org ~ 781.324.7680

YMCA of Woburn
ymcaboston.org/woburn ~ 781.324.7680

Arlington Boys and Girls Club
www.abgclub.org ~ 781.648.1617
abgclub@abgclub.org

Medford Boys and Girls Club
www.kidsclubs.org ~ 781.391.3619

Stoneham Boys and Girls Club
bsgstoneham.org ~ 781.438.6770

Parents of Tots Wakefield
parentsoftots.org ~ 781.246.6300

Arlington Public Schools

Malden Public Schools

Medford Public Schools

Melrose Public School

Reading Public Schools

Stoneham Public Schools

Wakefield Public School

Woburn Public Schools

For more information or to add a resource to this list, please contact me.

Kristy B.
Your Neighborhood Realtor
617.666.1900