Find answers to common questions about buying, selling, and renting
properties with Monteiro Prime Realty.
Buying a Home
You're ready to buy when you have a stable income, a good credit
score (typically 620+), savings for a down payment (3-20% of
purchase price), and can comfortably afford monthly mortgage
payments along with other housing costs. We recommend getting
pre-approved for a mortgage first to understand your budget.
Down payments typically range from 3% to 20% of the home's purchase
price. FHA loans allow as little as 3.5% down, while conventional
loans often require 5-20%. VA loans may offer 0% down for eligible
veterans. We can connect you with trusted local lenders to explore
your options.
From offer acceptance to closing, the process typically takes 30-45
days. However, the entire journey—including finding the right
home—can take 2-6 months depending on market conditions and your
specific needs. We work efficiently to help you move as quickly as
possible.
Closing costs include fees for the loan, title insurance, appraisal,
inspections, and more. Buyers typically pay 2-5% of the purchase
price in closing costs. For a $300,000 home, that's $6,000-$15,000.
We'll provide a detailed estimate early in the process so there are
no surprises.
Selling Your Home
We conduct a Comparative Market Analysis (CMA) that looks at recent
sales of similar homes in your area, current market conditions, your
home's unique features, and local trends. This helps us price your
home competitively to attract buyers while maximizing your return.
In Bristol County and Rhode Island, well-priced homes typically sell
within 30-60 days. Factors that affect timing include price,
condition, location, and market conditions. We use strategic
marketing to get your home maximum exposure and attract qualified
buyers quickly.
It depends on the repairs needed. Minor cosmetic updates and repairs
often provide good ROI. Major renovations may not always pay off.
We'll walk through your home and advise which improvements are worth
making to maximize your sale price.
Renting a Property
You'll typically need: valid photo ID, proof of income (pay stubs or
employment letter), credit report authorization, references from
previous landlords, and application fee. Having these ready speeds
up the process significantly.
Plan for first month's rent, security deposit (usually equal to one
month's rent), and potentially last month's rent. In Massachusetts,
landlords can only charge first month, last month, security deposit,
and lock change fee. Rhode Island laws are similar but may vary
slightly.
While not always legally required, many landlords require renters
insurance as part of the lease. It's highly recommended as it
protects your personal belongings and provides liability coverage.
Policies are typically affordable at $15-30/month.
Yes, you can try! Factors that help: strong credit, stable income,
willingness to sign a longer lease, or moving in quickly. We can
help you present a strong application and negotiate favorable terms
with landlords.
Working With Us
We proudly serve Bristol County, Massachusetts (including Fall
River, New Bedford, Taunton, and Attleboro) and all of Rhode Island
(including Providence, Warwick, Cranston, and Pawtucket). Our local
expertise helps you find the best opportunities in these
communities.
For buyers, our services are typically free—the seller usually pays
the agent commissions. For sellers, commission is negotiable and
discussed upfront. For rentals, fees vary by property. We're always
transparent about costs before you commit.
Monteiro Prime Realty is a proud partner of RE/MAX Impact New
Bedford. This partnership gives our clients access to RE/MAX's
extensive network, resources, and marketing tools while maintaining
our personalized, local approach to real estate.
Still Have Questions?
We're here to help! Reach out and we'll personally answer any questions
you have about buying, selling, or renting.