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Buyer's Guide

The Home Buying Process

Your Guide to Purchasing Property Presened by Kathleen Murphy


Kathleen Murphy

Kathleen specializes in coastal and historic properties from Marblehead to Amesbury to Newburyport. Before starting her career in real estate, Kathleen was an accomplished marketing and retail executive in the banking industry. In this capacity. Kathleen understands how to interpret market data, anticipate trends in the local economy and utilize all forms of media to her clients' advantage. She has keen insight about marketing properties to sell for the best price in the shortest amount of time. Kathleen also understands the unique stresses and emotions that can surface during the buying and selling process and has a team of professionals ready to assist including movers, painters, home stagers, handymen, etc. Her favorite saying is one she saw in an Irish pub that read "enter as strangers and leave as friends. This saying supports her goal to build lifelong relationships with clients based on a foundation of trust, integrity and some fun along the way.
Global Real Estate Advisor, Broker Associate
21 Central Street
Manchester, MA 01944

Why Work with a Buyer's Agent?

The decision to purchase a home is likely one of the largest financial and lifestyle decisions you will make. By aligning yourself with a trusted advisor, you will be well positioned to find the right property, negotiate fair terms and overcome any obstacles that occur along the way.

Leveraging our vast local expertise, industry connections, and resourceful tools. Gibson Sotheby's International Realty I will not only assist in helping you find the right home, but guide you through the entire purchase process.

We have the keys to where you want to be.

Steps to Buying a Home

From initial meetings to the final closing, below is an overview of what to expect throughout the home buying process.


01. Get Pre-Approved

The first step of the home buying process is getting pre-approved for a loan. During this process, your mortgage lender will review your income and credit history to determine what size loan you are eligible to receive.


02. Begin the Search

Once you have determined your budget, you and your agent will meet to review your wish list, desired timing and begin your search. Together you will review inventory and visit properties.


03. Offer Strategy Meeting

Prior to preparing an offer, your agent will show you comparable properties and collaborate with you to clearly review different offer strategies. You have the right to a home inspection, a mortgage contingency and a lead paint inspection. Discuss ways to make your offer more appealing and the implications including having a pre-inspection or waiving your rights to other contingencies.


04. Submit an Offer

Once you find a property that you love, you will choose an offer strategy and discuss with your agent how to position your offer to get it accepted. Based on the sellers response. your agent will guide you through next steps Offer deposit due typically $1,000).


05. Sign the Purchase and Sale Agreement

After the offer and terms are accepted, the seller's attorney will draft a Purchase and Sale Agreement. It states the final sale price and all terms of the purchase. This binding contract needs to be reviewed by your attorney prior to you signing it. P&S deposit due (typically 5%).


06. Formally Apply for a Loan and Lock in Your Rate

Your mortgage lender will work with you to review all final loan documents.


07. Appraisal

The property will be reviewed by a licensed professional to assess its value.


08. Home Insurance

You will need to review various options and select your homeowners insurance policy.


09. Final Walk Through

Just prior to the closing, you will go through a final walk-through of the property. This will ensure that the property is in the same condition as when you visited previously.


10. Congratulations!

Once you sign the final paperwork, exchange the payment, and the transaction is recorded at the Registry of Deeds, you are officially a homeowner. Congratulations, you will now receive the keys to your new home.

What to Expect from Your Buyer's Agent

A buyer's agent represents you, the buyer, during the home buying process. The agent has a fiduciary responsibility to represent only the home buyer's best interest in all aspects of the home buying process.

The buyer's agent is generally paid a commission at the time of the closing through an offer of compensation made to members of the Multiple Listing Service. Alternatively, the buyer can pay his/her agent directly. The amount of compensation offered often is factored into the purchase price and is publicly displayed on most real estate-related websites.

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Work With Us

If you are looking to buy, sell or invest in real estate along Boston’s North Shore, we are here to help. Contact us today!