Allow us to assist you to the best of our ability as professionals in the industry with buying a home in the Harvard, Bolton or local area of Massachusetts. To get you started, here are some steps in the home buying process for you to get familiar with.

Initial Phase – Preparation

Prepare your finances: Take a look at your financial situation including everything from how much you have for a down payment as well as what you can afford to spend on a monthly basis for your mortgage payment. Once you begin the homebuying process, you should refrain from any larger expenditures as this can affect the amount of a loan that you apply for.

Hire a Mortgage Broker: Once you have an idea of your personal finances, contact a mortgage broker and find out what you will qualify for in regards to an amount of a home loan. Your mortgage broker will also give you a pre-approval letter that will shadow your offer when you submit it.

Second Phase – Property Search

Viewing Properties for Sale: This is the most fun part of the home purchasing process. Once you have identified what you can afford to spend, then we will set up searches for properties. Consider things like bedroom and bathroom count, square footage as well as exactly where you want to be looking. Each neighborhood offers different amenities and accessibility. We can be a great resource in helping you figure out which towns may fit your criteria best based on our knowledge and experience.

Third Phase – Offer to Closing

Writing an Offer to Purchase: Once we locate the property that you want to make an offer on, we will need to act fast. Having a strong grasp on the current market will help you move quickly through the offer process.

Up to 7 Days after your accepted offer, you will want to have a home inspection: The best way to unearth all details of the home is to hire a professional inspector. They will give the home a thorough examination and tell you about any future repairs that may be necessary. This will help you budget for the future or negotiate the terms of your deal if there are larger or unanticipated work to be done.

10 to 14 Days after offer, enter contract: After the home inspection has been finished, then it is time to solidify the agreement. Commonly referred to as the “P&S” the Purchase and Sale agreement will clarify all of the terms and conditions of the deal. The deposit monies should also be paid at this time. These funds will be held in escrow until released on the day of your closing.

45-60 days from the offer you will typically close: This is the standard time frame for most transactions. However, no two deals are exactly alike so additional contingencies or requested dates may alter the process.

Allow us be your resource for all. Please always feel free to ask any questions about any part of the process and let our expertise work for you.