| Getting Started
As your realtor, I would be involved in the entire process when you purchase your home. As a homebuyer you have the right to have a professional real estate agent represent your best interests.
Massachusetts State Law requires that you be informed of all forms of agency. Here is an explaination of the different types of agency.
Listing Agents represent the seller only.
Seller's Agent works with buyers but represents the seller.
Buyer's Agent works with and represents the buyer.
Dual Agent works with both buyers and sellers, representing both.
What you should do before you even start looking for your home.
Pre Approval:
Before you begin your search for your new home you need to be pre-approved. Sometimes this can be done with a simple phone call to your local bank and/or mortgage company. An offer to purchase a property carries more weight when you have a letter of pre-approval.
Selecting a Lender:
There are hundreds of lenders available offering an endless number of loan options. You will want to determine how much you can afford to borrow based on your personal financial situation. Mortgage bankers and brokers will likely ask you to document your income and debt.
- The Mortgage Lender usually loans you money from his company (i.e. bank) and typically offers several set programs with specific guidelines.
- The Mortgage Broker works with many different lenders and facilitates numerous types of loan programs.
Finding your new home:
Based on your criteria we will begin to preview homes, some that you may have requested and some that seem to fit your requirements. I will schedule appointments and personally view the homes with you. As you view these homes selecting the homes you like you will be able to envision yourself and your family living in them. After several of these outings you will be an informed buyer and be able to make a decision when you see the right home.
Buying your New Home:
This is it!! You have found the perfect home for you and your family. Now, you will be able to make an educated decision based on the market and the listing price. We will review the listing price and you will decide what amount you would like to offer for the home. I will prepare the offer to purchase including any additional criteria such as home inspection and financing. Your offer must be accompanied by earnest money which is considered a deposit made in good faith to show that you are serious about purchasing this particular home. As your agent I would present the offer immediately - the offer will have a timeline to allow for contacting the seller.
In a perfect world your offer would be accepted immediately, but in reality, you can expect a counter offer - unless you have offered to pay the asking price. These negotiations are usually done verbally but can be done in writing. This often takes several days. Once you have agreement on all the terms of your contract, you will be ready for the final steps.
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