How to buy a home,
from pre-approval to closing.
No time to read my full home buying guide? No problem! I've outlined the whole process for you here but if you want to learn more or speak to me directly, call me at 978-886-3271 or book a free call with me here.
If you prefer to watch a Youtube video about buying a home in Massachusetts, checkout my Homebuying 101 guide over on my YouTube channel.
Find the Right Agent
Finding a real estate agent that you trust and feel comfortable with is as hard as finding the right house to call a home! Make sure that your agent is as invested in your happiness as you are and they are an Accredited Buyer's Representative!
"Working with Alex was a great experience he helped us in all stages of the process and was always there to listen and guide us. I can never thank you enough Alex, I would recommend you to anyone!"
- David & Fery
Figure Out Financing
Ask your agent to connect you with their favorite lender so you can bring your full financial picture together. You can't look for homes or make offers if you don't know what you can afford or how much it'll cost.
Understand the Costs of Buying
The sale price is just one part of your purchase, you will also need to plan for the rest. You can learn more about each item here but I've summed them up below:
Contract Deposits: Up to 5% of the purchase price (goes towards your purchase)
Home Inspection: $500 - $1000
Down-Payment: 3.5-20% of the purchase price
Closing Costs: 1-3% of the purchase price
Moving Expenses: $1000 - $5,000
Searching for a Home
Work with your agent to create a search pattern and go out and see homes with them - don't go alone! Learn your likes and dislikes and prepare to make an offer. Your best bet is to have a consultation with an experienced agent before you get started!
Go Under Contract
It could take one weekend of open houses or three months but once you find the one and get your offer accepted, with the help of a Real Estate Negotiation Expert, the timeline will look something like this:
Due Diligence Period (0-14 Days): Any inspections, tests or further research must be done during this time before you sign Purchase & Sale (P&S).
Loan Commitment (10-30 days): Once P&S is signed, it's mostly a waiting game until your lender approves your loan application.
Closing (3+ days after commitment): Take your closing day off! You need to walk through the property then sign paperwork at your closing attorney's office in person.
There is no such thing as a typical purchase in real estate but if things go smoothly and you work with a great lender, like Brian Driscoll, you can go from accepted offer to closing in 21-45 days in most situations.
Plan for Your Move
Closing date can change so have a backup plan in case of a change in closing date; generally it's very wise to avoid moving in and out on the same day. It's worth paying an extra month's rent to move out slowly and it gives you time to clean your new place while it's empty!
On the day of closing, be sure to call and update all the utilities for the home so they know you've taken over the property; water, electricity, gas and internet.
I hope you took the day off and be sure to bring your photo ID, final payment and any other documents required by the closing attorney to the closing.
Go checkout the first things to do as a new home owner for the full list but below are some key things to remember:
Clean, paint and refinish floors before moving in.
Make a maintenance plan
Meet your neighbors
Thank Your Agent
I gratefully rely on the satisfaction of my past clients for new business and with you as my cheerleader, I will continue to be able to connect with and help more people reach their real estate goals every year.
I am never too busy for your referrals and thank you in advance for connecting me with anyone in your network looking to learn more about buying or selling.