Buying Real Estate

Boston is one of the most dynamic cities in the country, rich with culture, historical charm, and natural beauty. Known as a city of neighborhoods - all of which are unique and inviting in their own way – Boston has something for everyone. This distinctive character and broad appeal make Boston an excellent choice for home buyers, but it also creates a nuanced real estate market that can sometimes be challenging to navigate.

As seasoned professionals and residents of our beloved city, we have a deep understanding of all things Boston – the neighborhoods, the real estate market, and the most effective approach to finding and purchasing the perfect home. Each buyer, property and transaction is unique in their own way, but it is this expertise that makes our team reliably effective at guiding clients seamlessly down the path to home ownership.

If you’re looking to purchase a home in the Boston area, let us be your trusted advisor. We will use our network of reliable industry resources to help along the way, including real estate attorneys, mortgage bankers, inspectors, contractors, etc., and will work tirelessly to strategize, advocate, and negotiate a favorable transaction on your behalf. Developing a long-term relationship with our clients is a top priority, so after closing, you can count on us to offer advice on any home-related needs you may have in the future.

We’re ready to get started when you are, but it’s useful to familiarize yourself with the home buying process early on. Here are the BASIC STEPS to be aware of, but keep in mind that each transaction is different, so there may be additional steps to consider. Not to worry though, that’s why you have us! 

Initial Phase - Preparation

  • Prepare financially: Carefully evaluate your finances. Determine how much money you can afford for a down payment, and what your budget is for a monthly mortgage payment. This is also a time to analyze and address any lingering credit or debt issues. Once you begin the mortgage process, it is wise to refrain from any large expenditures, as they can affect the amount of loan that you qualify for.

  • Consult with a Mortgage Broker: Contact a mortgage banker and discuss loan options, educate yourself with the process and when ready, apply for a pre-approval letter. This letter is the official qualification document that will allow you to proceed in making an offer to purchase

Second Phase - Property Search 

  • Viewing Properties for Sale: This is where it gets fun! After your pre-approval is issued and you are comfortable with a targeted price range, we will set up MLS (Multiple Listing Service) searches for properties. We factor in desired locations, bed/bath count, square footage and “must haves”. Beyond being a resource to identify homes that meet your desired criteria, we will advise you on neighborhoods, home types, and anything you should consider that might affect livability, require repairs, or have an impact on resale value.

Third Phase – Transaction: Offer to Closing 

  • Crafting an Offer to Purchase: Once we identify the property that you would like to make an offer on, we will guide you through a price analysis using current comparable sales. We will then strategize on the best way to present your offer and which negotiation tactics you feel most comfortable utilizing. Each offer is different, and this part of the process can move very quickly! A small deposit is due at this time.

  • The Home Inspection: Once your offer is accepted (and typically within 7 days), you may conduct a home inspection. A professional inspector will give the home a thorough examination and inform you of the current condition, any immediate concerns and any longer terms suggestions for repairs to the home. This is the best way to uncover what you should know about the structure and integrity of the home and will help you budget for the future and/or re-negotiate the terms of purchase in order to account for any issues that arise. 

  • Purchase & Sales Contract: After the home inspection process has been completed, it’s time to solidify all terms and enter the Purchase and Sale contract. Commonly referred to as the “P&S,” this contractual agreement will identify the full legal framework of the transaction and will be negotiated by both your attorney and the sellers’ attorney. A 5% deposit is typically due at this time. All funds will be held in escrow until the new deed is recorded at the Registry of Deeds, in your name on the day of closing.

  • Mortgage Commitment: If you are obtaining a loan, typically within 30 days of the offer, you will be issued a commitment letter from the bank, officially committing them to the loan for the property. This will indicate the completion of a vetting process, including you as the applicant, the property, and a bank appraisal of its value.

  • Closing: You will typically close 45-60 days after making the offer to purchase. This is an average time frame for most deals, however no two deals are completely alike so additional contingencies or desired dates may play a role in your process. 

If you have questions about any part of the process, or would like more information, please reach out.
Let us be your end-to-end resource in the purchase of your new home.