Why Buy With Us?
For most people buying a home is the largest transaction they’ll make in their entire lives.
We are well aware of this and are here to ensure the process moves along as smoothly as possible. From helping you find your ideal home to ensuring a smooth closing, we'll be with you every step of the way—from setting up your initial property search to handing you the keys to your new home. Below, we have broken down the buying process to make it easy for you to understand.
Steps to Buying a Home
Understanding the home buying process.
Step 1: Initial Consultation
The first step in finding and buying your home is to meet with us to discuss your preferences, requirements, and budget. For example: Do you require parking? Taking the T to work? How far are you willing to walk to public transportation? From helping you find your ideal home to ensuring a smooth closing, we’ll be with you every step of the way.
Step 1: Initial Consultation
The first step in finding and buying your home is to meet with us to discuss your preferences, requirements, and budget. For example: Do you require parking? Taking the T to work? How far are you willing to walk to public transportation? From helping you find your ideal home to ensuring a smooth closing, we’ll be with you every step of the way.
Step 2: Pre-Approval
Buyers are expected to make an offer only after being pre-qualified for a mortgage. We can connect you with the best mortgage brokers to ensure you’re fully prepared and confident in your buying process. Click here for a list of brokers we work with. In most cases sellers will not entertain an offer without a pre-approval letter from the buyer’s lender if the offer has a mortgage contingency.
Step 2: Pre-Approval
Buyers are expected to make an offer only after being pre-qualified for a mortgage. We can connect you with the best mortgage brokers to ensure you’re fully prepared and confident in your buying process. Click here for a list of brokers we work with. In most cases sellers will not entertain an offer without a pre-approval letter from the buyer’s lender if the offer has a mortgage contingency.
Step 3: Home Search
We will send you updated listings on a daily basis. You can also utilize our website to research listings, neighborhoods, schools, market area statistics and other area information. At the bottom of every listing you will find market statistics like: Average home price around the subject property, average days on the market, how hot is the market and how many listings are available in that area. You’ll also see Walk, Transit and Bike Score along with other neighborhood information like dining, groceries, shopping, errands, parks, schools, culture and entertainment. There’ll be a link to a map where you can see more detailed information. After we’ve pinpointed the properties you’re interested in, we will arrange and join you for the showings. When you find a home that meets your criteria, we will help you prepare and submit an offer.
Step 3: Home Search
We will send you updated listings on a daily basis. You can also utilize our website to research listings, neighborhoods, schools, market area statistics and other area information. At the bottom of every listing you will find market statistics like: Average home price around the subject property, average days on the market, how hot is the market and how many listings are available in that area. You’ll also see Walk, Transit and Bike Score along with other neighborhood information like dining, groceries, shopping, errands, parks, schools, culture and entertainment. There’ll be a link to a map where you can see more detailed information. After we’ve pinpointed the properties you’re interested in, we will arrange and join you for the showings. When you find a home that meets your criteria, we will help you prepare and submit an offer.
Step 4: Submitting an Offer
We will assist in writing up an offer with all appropriate contingencies. Contingencies are included to protect a buyer’s deposit money. Some examples of contingencies are a home inspection, mortgage contingency, and appraisal contingencies. Typically, the prospective home buyer includes a check for $1,000. At the signing of the Purchase & Sale agreement, an additional deposit will be due, typically 5% of the sales price. The deposit at the signing of the Purchase & Sale agreement is negotiable and also dependent on the buyer’s loan. The purchase and sale agreement is negotiated by the buyers and sellers’ attorneys.
Step 4: Submitting an Offer
We will assist in writing up an offer with all appropriate contingencies. Contingencies are included to protect a buyer’s deposit money. Some examples of contingencies are a home inspection, mortgage contingency, and appraisal contingencies. Typically, the prospective home buyer includes a check for $1,000. At the signing of the Purchase & Sale agreement, an additional deposit will be due, typically 5% of the sales price. The deposit at the signing of the Purchase & Sale agreement is negotiable and also dependent on the buyer’s loan. The purchase and sale agreement is negotiated by the buyers and sellers’ attorneys.
Step 5: Home Inspection
Most buyers will have a home inspection contingency and will hire a home inspector to perform an inspection of the property. In most cases a home inspector conducts an examination of a property’s physical condition to identify any potential issues or necessary repairs.
Step 5: Home Inspection
Most buyers will have a home inspection contingency and will hire a home inspector to perform an inspection of the property. In most cases a home inspector conducts an examination of a property’s physical condition to identify any potential issues or necessary repairs.
Here are the key tasks a home inspector performs:
Exterior Inspection
- Foundation: Checks for cracks, settling, or other structural issues.
- Roof: Examines the roof for damage, leaks, and the condition of shingles or tiles.
- Siding: Inspects the exterior walls for signs of damage or wear.
- Windows and Doors: Assesses the condition of windows and doors, including frames, seals, and functionality.
- Gutters and Downspouts: Ensures proper drainage and checks for blockages or damage.
Interior Inspection
- Structural Components: Evaluates the condition of walls, ceilings, floors, and stairs.
- Plumbing: Checks for leaks, water pressure, and the condition of pipes and fixtures.
- Electrical System: Inspects wiring, outlets, switches, and the electrical panel for safety and functionality.
- HVAC System: Examines the heating, ventilation, and air conditioning systems for proper operation and maintenance.
- Insulation and Ventilation: Assesses the effectiveness of insulation and ventilation in the attic and crawl spaces.
- Appliances: Tests built-in appliances like ovens, dishwashers, and garbage disposals to ensure they are in working order.
Safety Checks
- Smoke and Carbon Monoxide Detectors: Ensures these safety devices are present and functioning.
- Stairways and Railings: Checks for stability and safety.
- Fireplaces and Chimneys: Inspects for proper operation and potential hazards.
Reporting
- Detailed Report: Provides a report summarizing the findings, including photos and descriptions of any issues.
- Recommendations: Offers advice on necessary repairs, maintenance, and potential future problems.
Certain tasks performed by a home inspector depend on their access to specific areas of the property. Home inspectors are not permitted to make permanent changes to the property, such as opening walls or removing fixtures, to gain access. Their inspections are limited to non-invasive methods, ensuring the property remains unchanged.
A home inspector’s goal is to provide the buyer with a clear understanding of the property’s condition, helping them make an informed decision.
Typically, the home inspection is done before the Purchase & Sale is signed. This cost is paid for by the buyer and is payable on the day of the home inspection. The cost varies depending on the property, inspection company, and types of inspections requested.
If the buyer is not satisfied with the result of the home inspection, they can decide not to move forward with the purchase, and the seller will refund their deposit that was put down with the buyer’s offer. Alternatively, the buyer can ask the seller to make repairs before the closing, or the buyer can renegotiate the offer price to cover the cost of the repairs themselves.
If the buyer is satisfied with the home inspection the buyer will move to sign the purchase and sale agreement. The purchase and sale agreement will be prepared and negotiated between the buyer and sellers’ attorneys.
These are things we’ve seen home inspectors perform during the home inspections we’ve attended. Every home inspector is different and buyers should consult the home inspector to specify exactly what that home inspector checks during the home inspection.
Step 6: Mortgage
If the buyer is obtaining financing to purchase the property there is a mortgage contingency included in the purchase and sale agreement. The purchase and sale agreement has a mortgage contingency clause with a specific date the buyer must obtain a commitment letter from their lender. If a buyer cannot obtain a commitment letter by said date they have the option to ask for an extension of the commitment date or back out of the purchase. Once the buyer receives the commitment letter the buyer moves to closing.
Step 6: Mortgage
If the buyer is obtaining financing to purchase the property there is a mortgage contingency included in the purchase and sale agreement. The purchase and sale agreement has a mortgage contingency clause with a specific date the buyer must obtain a commitment letter from their lender. If a buyer cannot obtain a commitment letter by said date they have the option to ask for an extension of the commitment date or back out of the purchase. Once the buyer receives the commitment letter the buyer moves to closing.
Step 7: Closing
The last thing that needs to be done before the buyer and seller sit down at the closing table is the final walk-through. The purpose of the walk-through is to make sure the property is in buyers’ satisfactory condition. The closing is scheduled on a mutually agreed upon date, time and location. The buyer will need to bring two forms of identification and any additional funds required for the closing. The buyer and seller will sign all necessary documents and the sale will be recorded at the registry of deeds. The seller will provide keys to the buyer and the buyer officially owns the property.
Step 7: Closing
The last thing that needs to be done before the buyer and seller sit down at the closing table is the final walk-through. The purpose of the walk-through is to make sure the property is in buyers’ satisfactory condition. The closing is scheduled on a mutually agreed upon date, time and location. The buyer will need to bring two forms of identification and any additional funds required for the closing. The buyer and seller will sign all necessary documents and the sale will be recorded at the registry of deeds. The seller will provide keys to the buyer and the buyer officially owns the property.
Ready To Start?
Contact Us
Contact us to schedule a consultation. In the meeting we’ll discuss your preferences, requirements, and budget. This initial consultation allows us to understand your needs, such as parking requirements, proximity to public transportation, and other lifestyle considerations. During this meeting, we will outline the steps involved in buying a home and set up an action plan tailored to your goals.