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.
From initial meetings to the final closing, below is an overview of what to expect throughout the home buying process.
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.
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.
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.
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).
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%).
Your mortgage lender will work with you to review all final loan documents.
The property will be reviewed by a licensed professional to assess its value.
You will need to review various options and select your homeowners insurance policy.
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.
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.
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.
Insert your text here
Insert your text here
Insert your text here
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!
CONTACT US