Home Buyer Guide

Call or e-mail me today to discuss your home search and how I can assist you in finding the right home to fit your needs.  I assist everyone from the first time homebuyer to the seasoned investor.  781-710-4544 or a.bruno@sothebysrealty.com

What my buyer clients can expect from me:

  • Complete professionalism and honesty.  As your buyer’s agent I owe a certain level of service to you, my client.  This level of service includes undivided loyalty, reasonable care, disclosure, obedience to lawful instruction, confidentiality and accountability.
  • When you employ the use of a buyer’s agent I represent you as the buyer and not the seller. I am looking out for your best interest at all times and will negotiate as such.
  • I will provide you with any and all pertinent information to allow you to make the best decision possible regarding purchase price and terms for your transaction.
  • I will be by your side throughout the entire buying process, from obtaining your pre-approval to the closing and beyond.  I am there to answer any questions you have and resolve any issues that may present themselves.
  • I will provide you with up to date market activity regarding new listings, homes recently put under agreement and recent sales.

Buying a Home, a summary:

  • Obtain pre-approval letter
    • While not the most exciting part of the buying process it is an absolute necessity as the seller of a property will request to see a pre-approval letter before signing any offer that is submitted.  Obtaining your pre-approval letter is the first step to take when entering into the market.  I have many lenders I can recommend you to that have worked with past clients.
  • The home search
    • Once you have obtained your pre-approval letter the fun can begin!  To get started we will discuss what you are looking for in your new home from the number of bedrooms and bathrooms to the location and distance to area amenities.  Once we have created a list of search criteria I will provide you with a list of all properties in your areas of interest that fit the bill.  We will then sort through that list to determine which homes you are interested in viewing and schedule the home tours.
  • Making an offer
    • After we view a number of properties and you have decided which home is right for you, we submit an offer to purchase.  The offer covers purchase price, financing details, time frame and other contingencies such as the home inspection.  Also, a binder, or initial deposit, typically a $1,000 check will be submitted along with the offer to the listing agency.  This check is only deposited into escrow once terms have been agreed upon and the offer to purchase has been signed by both parties.
    • Typical contingencies outlined in the offer to purchase are as follows:
      • Mortgage Contingency
      • Satisfactory Home Inspection to be conducted by a licensed professional
      • Satisfactory review of all condominium documents and budgets if applicable
      • Home to be delivered vacant and in broom clean condition
  • The offer price will be determined by looking at recent comparable sales in the area.  Negotiations can move quickly and other times there can be much more time involved, but the goal is always the same, to get the home for the best price possible.
  • Signing of the P&S agreement
    • The “P&S” or Purchas and Sale agreement is the legal contract to buy and sell real estate in Massachusetts.  This document contains all of the contingencies and other provisions relating to your purchase and is typically signed 10-14 days after the offer to purchase is accepted.  During this 10-14 day period you will conduct your home inspection, apply for your loan and I will obtain the condo documents and budget.  This is something that is best handled by an experienced real estate attorney and should not be done on your own.   Your attorney will review all of the documents and will know if anything should raise a red flag and should also be able to resolve any issues that might come up during the review process.
    • It is at the signing of the P&S that the additional deposit is due.  This deposit is typically a minimum of 5% of the purchase price depending on how it was drawn up in the offer to purchase.
  • Closing
    • As we approach closing the most important thing is to stay in touch with your lender to make sure there are no problems that arise and funding for your mortgage will be readily available by your mortgage contingency date.  This is the date after which you cannot walk away from the transaction due to an inability to obtain a mortgage.  Your lender should provide you with a solid commitment letter prior to this date.  While this letter is not a 100% guarantee it provides the assurance you will be looking for.
    • A day before or the morning of the closing you will conduct a final walk-through inspection of the property to make sure all is as it should be.
    • Prior to closing you will want to obtain homeowner’s insurance
    • Lastly, once you take ownership you should apply for the residential tax exemption if applicable in your town.
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