You thought finding the right real estate agent, getting pre-approved by a mortgage officer, searching through listings, riding through neighborhoods, and touring houses to find the right home was the hard part? That’s just the beginning, but a beginning to what should be a happy ending. Buying (and selling a home) is process. See below for a general guide to keep that process moving along…
Making an Offer:
1. Find a great home
2. Determine offer price
3. Determine amount you will be financing
4. Determine a closing date
5. Jen will complete the offer form for you to review and sign
6. Deposit check to listing office to bind the offer (typically $1000, it does get deposited!)
7. Pre-Approval Letter from your bank or mortgage company
8. MA Agency Disclosure Form signed at first meeting
9. A personal note to the sellers is nice touch depending on situation
Jen sends it all to the listing agent.
Agree on price and terms
Sign revised contract and check gets dropped off to listing agent to deposit
Contact attorney and home inspector
*Looking for major mechanical, structural, safety, and health issues.
1. Jen can recommend trusted home inspectors or check with friends, family, co-workers
2. Must take place typically within 10 days of signed offer.
3. Attending as a buyer is important to learning how the house “works”
and hearing what deficiencies may exist and what to do about them.
4. Negotiate any issues.
Sellers can make repairs, seller can give a credit, or seller can do nothing.
Purchase and Sale Agreement (P&S)
Overriding contract to the offer in the sale of the home
Worked on and agreed upon by both the buyers’ and seller’s attorney
Make additional P&S deposit – bank check to listing company
Ordered by your mortgage company. Paid for by you.
Completing Mortgage File.
Submit anything & everything your mortgage company asks for,
when they ask for it,
and no matter how many times they ask for it
Your loan along with the property you are purchasing have been approved by the bank
You likely will still have a few conditions on your to-do list – make sure “to do” them
Clear to Close from mortgage company (nothing left on your mortgage to-do list)
Closing Disclosure issued and three days later… Closing!!
Then guess what? You’re Home!
Always a pleasure to be of any assistance to you or anyone you know who is thinking about buying or selling a home. I love to work hard for my clients and your referrals throughout Massachusetts and Rhode Island.
Jennifer McMorran, Realtor, SRES
New Construction & First Time Home Buyer Specialist
MA & RI Licensed Real Estate Sales Assocate
Kensington Real Estate Brokerage
real estate for real people.
Serving clients throughout
Massachusetts & Rhode Island.
Boston – Attleboro – Providence
and the communities in between.