401 Living a Buyers Guide

Living Buyers Guide

Explaining why A CASTLE KEEP BUYERS AGENT BRINGS VALUE TO YOUR PURCHASE A guide to buying your first home!

ABOUT US Castle Keep Realty aims to provide personalized attention and comprehensive guidance throughout every real estate journey

ALYSE ANTONE SMYTH, ESQ. BROKER Alyse was born and raised in Newport, Rhode Island. Her life experiences growing up in Newport fostered her inspiration to pursue a career in the legal field. While working and raising a family, Alyse obtained her Juris Doctor from Roger Williams University. Learn more about Alyse on our website

CESAR PATRICIO, REALTOR Cesar was born in Lisbon Portugal, but relocated to Newport RI in 1985. Cesar career started in hotel management out of college, that laid the foundation for his transition into Real Estate Learn more about Cesar on our website

ASA MONTGOMERY, REALTOR Asa is known to many of our clientele as a property manager as well as a realtor. A graduate from URI, he was born and raised in Newport and has been building his career steadily since graduating in 2019. Learn more about Asa on our website

MARYAH ABOSSO, REALTOR Maryah (Coffey) Abosso was raised in Newport RI. Maryah established her career in customer service, sales and leadership working for 10 years at AAA. She has been busy applying her business skills in assisting Alyse in building the day to day operations at the brokerage. Learn more about Maryah on our website.

Our Buyers Agents are here to assist you!

Buying a home can be complex due to various regulations.

Castle Keep Realty emphasizes strong communication, guiding you through the process and clarifying housing laws. Buyers must sign a Buyers Representation Agreement, which establishes a legal relationship and allows agents to assist effectively.

Our agents prepare buyers by discussing the average timeline for house hunting, mortgage approval, and closing. We also analyze current market trends, estimated out-of-pocket costs, and provide estimates for urgent repairs to enhance your purchasing experience.

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Castle Keep Agents focus on understanding your needs during the buying process, helping to identify non-negotiables, budget, and connecting you with lenders. They offer housing options based on market availability.

Skilled in negotiation, our agents will create a tailored strategy to secure your desired property at the best price, providing a comparative market analysis and guidance on crafting appealing offers with competitive strategies.

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Why Should you make Rhode Island or Massachusetts your home?

Castle Keep Realty believes living in Rhode Island and Massachusetts offers residents the best of both New England charm and modern conveniences, making it a truly special place to call home. The two states are celebrated for their picturesque coastal landscapes, rich history, and vibrant cultural scenes. From Rhode Island’s pristine beaches and renowned seafood to Massachusetts’ thriving cities like Boston and beautiful mountain trails, there’s a lifestyle fit for everyone. With a focus on excellent schools, diverse job markets, and strong communities, both states provide a foundation for families and individuals to thrive. As locals we understand the unique appeal of this region and are deeply connected to the neighborhoods, traditions, and people who make Rhode Island and Massachusetts remarkable. We believe it’s not just a place to live, but a community where homeowners can truly put down roots and experience a high quality of life.

Newport RI Home Values

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Middletown RI Home Values

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Portsmouth, RI Home Values

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Jamestown, RI Home Values

02835

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Westport, MA Home Values

Westport, Massachusetts, is a charming coastal town in Bristol County known for its rural beauty, agricultural heritage, and scenic views along the Westport River and Buzzards Bay. It has a blend of open farmland, coastal landscapes, and smalltown charm, making it a great spot for those who appreciate a relaxed lifestyle with close proximity to nature

Westport’s beaches, like Horseneck Beach State Reservation, are among its biggest draws, providing miles of sandy shorelines, opportunities for swimming, windsurfing, and breathtaking sunset views. For outdoor enthusiasts, the town has plenty of trails and nature preserves, including the Westport River Wildlife Refuge and the Westport Town Farm, which is also a local favorite for picnics and seasonal events

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Real Estate Terminology 101 Agency: A relationship between two parties (agent) who acts for or represents another under the authority of the latter Agent: A person who is authorized to act in the best interest of a principal/client, and is obligated to place the principals interest before the interest of any other party Appraisal: A written analysis of the estimated value of a property, prepared by a qualified appraiser Buyer Broker Agreement: An agreement that specifies the duties and the scope of services a buyers representative agrees to provide to the buyer Closing & Closing Costs: A meeting in which a sale of a property is finalized by the buyer and seller signing associated documents and the closing costs are paid. Closing Cost are the fees, costs, taxes associated with the purchasing of a property. This includes the borrowing of money, the preparation of necessary paperwork that finalizes the sale etc. The total amount of closing costs will vary depending on location, property type, price and complexity of the transaction Commission: The fee charged by a broker or agent for providing services related to a real estate transaction such as marketing the property, bringing the parties together and negotiating the purchase contract Deed: The legal document conveying title to a property Earnest Money Deposit: This is a deposit made by the potential home buyer to show that he or she is serious about purchasing the property Escrow: An account that holds deposits or documents that will be dispersed once a property closes. Example: An earnest money deposit is held in escrow by a broker, bank or other party until the transaction is closed Fiduciary Duties: The term fiduciary is defined as relating to or involving confidence of trust. Fiduciary duties are determined by state law - but generally include: Confidentially, undivided loyalty, obedience, reasonable care and diligence, full disclosure and accounting

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Real Estate Terminology Cont..

Good Faith Estimate: An estimate of closing costs associated with the purchase of a property provided by a lender.

Home Warranty: A guarantee for mechanical systems and appliances, but not the structure, against repairs not covered by homeowners insurance - coverage is for a specific time.

LTV (Loan to Value) The ratio of the amount of a mortgage loan to the appraised value or sales price of the property mortgage, whichever is lower Mortgage Insurance: A policy that insures the lender against loss caused by a mortgagors default on a mortgage PMI: Private Mortgage Insurance is coverage provided by a private mortgage insurance company to protect lenders against loss if a borrower defaults. Coverage is usually required for a loan with a loanto-value percentage in excess of 80% Points: A point is one percent of the amount of the mortgage. At closing, Lenders sometimes charge borrowers a percentage of the loan amount equal to the number of points to cover the lenders costs.

Sometimes borrowers pay high points in exchange for a lower interest rate Pre-Approval vs. Pre-Qualification: A pre-Qualification is an estimation of what a purchaser can afford - vs A pre-Approval, is a written commitment issued by a lender after a comprehensive analysis of the creditworthiness of the applicant Purchase & Sales Agreement (P&S) this is a contract that is legally binding that sets forth the terms of the sale, establishes the rights and obligations of the parties involved, and specifies the actions to be taken in order to close the sale.

Realtor: this identifies a real estate agent who is a member of the National Association of REALTORS and subscribes to it’s strict code of ethics

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