Archive for the 'Buying' category

You've made your choice on your new Boston Condo... 
Now its time to make an appropriate offer.

Now that you have found the home you want to buy, your Realtor can now work with you to complete and present an offer. In addition to price, the offer includes other terms such as Financing, Inspections, a closing date and other contingencies that must be completed or resolved prior to closing.

You're offer may be accepted right away, or you may go through a period of negotiations. Your goal as a qualified buyer is to present an offer that demonstrates your seriousness in purchasing the property you choose. Here are some steps that you will be taking at this point.

• Understand and discuss all aspects of the purchase.
• Determine the earnest money deposit amounts, financing options and terms.
• Setting a closing date, place and time.
• Confirm the time allowed for inspections prior to commitments.
• Clarify all improvements and repairs.
• Confirm inclusion or exclusion or non-real estate items or furnishings.
• Get an explanation of all addendum's and contingencies.
• Negotiate through multiple offers, if necessary. Remember, its always better in writing.
• Obtain property disclosures.
• Confirm closing costs to you as a buyer - Appraisal, title work, tax and interest prorations recording fees, transfer tax and more.
• Review all sales statements and agreements.

Good of luck !

For more information on buying or selling a home in Boston, go to my buyer page. 

In most cases, you will be given the opportunity to have a final walk-through or inspection prior to closing on your purchase. At this time before the closing, it is important for you to check on those items you and the seller have agreed to have done in response to your initial inspection. 

You should carefully check the condition of all equipment, walls and ceilings from which window treatments may have been removed and/or any other attached furnishings that may have been removed.

If you find any problems, don't hesitate to bring them up to your Realtor and sellers before passing papers. Its the sellers responsibility to correct them.

For other real estate tips, visit http://www.bostonresidentialre.com/real-estate-tips. , or call me directly on my mobile.

There is really no steadfast rule when making an initial offer. However, be aware that when you do make that initial offer, it usually sets the sale's price of the home.

When I coach home owners prior to selling, I tell them everyone wants something from a deal to make the transaction happen. This means sellers really need to give something and the buyers also need to give a little as well…..so when setting a price as a seller, you want to make sure to leave room for that to happen. And as a buyer, know that you also will need to be reasonable…negotiation! 

When you’re making an offer to purchase real estate, your Realtor will be asking you for earnest money -  and hopefully your Realtor has already spoken with you regarding "earnest money" aka the deposit. This earnest money shows the seriousness of you purchasing the real estate your offering to buy.

The first thing you should do is begin focusing on what you're looking for in a home. You can start by establishing priorities in the following areas:

Location: Are you relocating to a new town because of a new job, or to be closer to your current job? How will the location of schools, shops, and transportation affect your choice of neighborhoods?
 

Personal tastes: How large a home do you need? What style of architecture do you prefer? Depending on where you live, you may have a choice of homes in dozens of styles, sizes, and settings. Would you prefer a condo over a house? What best fits your needs now?

Budget- How much home is it wise for you to own?

Gather as much real estate information as you can. First and foremost, log in and sign up to receive automatic emails in the area(s) that you would like to live. Chances are you won’t be buying any real estate for 3 to 6 months or longer, so now is a good time to get a finger on the pulse of the market. It will also give you the chance to see how much house you can buy for your price range. 

Next, be in touch with a local Realtor ® that has proven success. A Realtor® will be able to help you through the mountains of obstacles from the beginning of your property search, right to the closing table and beyond.

A real estate transaction is complicated. In most cases, buying a home requires disclosure forms, inspection reports, mortgage documents, pre-approvals, insurance policies, deeds, and property disclosures. It’s imperative that your offer to purchase be accurate and you’re not being taken advantage of. Using a knowledgeable Realtor® through this complexity can help you avoid costly time and mistakes.

Speak with a mortgage professional.  Not an on line quick approval, but a provider that will be guiding you through the entire financial process right to the closing table. This will give you the opportunity from the very beginning to determine your price range and what you can afford on a monthly basis in your own particular circumstance. Knowing that range can save you a lot of time in the beginning stages!

Do a little research of your own. Look through magazines for ideas about home styles and features. Drive through neighborhoods that appeal to you to see what's available. Read the real estate listings in the local newspaper to learn about current prices in the areas you're considering. Talk to friends about the features that you'd really like to have in your home. One great way to see the homes in your choice of area, is take a weekend and visit all of the Open Houses in that area.  The more knowledgeable you become, the better your final decision is likely to be.

Happy house hunting!

Buying a home is certainly one of the most rewarding experiences most of us ever have; it's also one of the most challenging. If you're buying for the first time, the process may seem overwhelming. And even if you've been through it several times, every move is different, and presents new challenges. One clear advantage of enlisting the help of an agent is that you don't have to "go it alone." A good agent has the training, the know-how, and the experience to help you through each step of the process, and make the process of finding, buying, and moving into your new home as smooth, quick, and enjoyable as it can be. Another advantage is that an agent represents a valuable source of information about market trends, communities and neighborhoods, and especially, homes for sale throughout the area. Remember, not every home seller runs an ad in the local paper or puts a sign up in the yard. In fact, many homes actually sell before there is ever a need to advertise them. An agent offers you market expertise augmented by access to complete, regularly updated information about every home listed by area agents through the Multiple Listing Service (MLS). Professional expertise and services can be of considerable help throughout the buying process.