The home buying process
Once you have been pre-approved for your mortgage, it’s time to find your new Massachusetts home! Here are some thoughts to consider:
- What neighborhood would be best for you? Consider the schools, distance to employment, shopping and dining options, and nearby parks. Location is essential!
- What are your priorities in a home? How many bedrooms and baths? Are you able to tackle homes that need a little work? Be realistic about your budget and your needs.
- Set a timetable for your home search. Be willing to set aside several hours to tour homes that suit your criteria.
- Search for homes on our website! To save time, please contact us with your criteria and we will do the work for you, at no charge.
- Contact THRIVE Real Estate Specialist to arrange showings of the homes you like. We will coordinate your appointments for your convenience.
- When you’ve found the ideal home, make an offer! If you do not make an offer, you risk the home being sold to someone else. Here are strategies to keep in mind!
Make your best offer first. The seller may accept your offer, or counter it with another price. Low offers may be refused outright, and an offended seller may not wish to continue negotiations.
Understand what contingencies are appropriate. It’s reasonable to put contingencies in your offer to protect yourself – things like the purchase being subject to mortgage loan approval, and a home inspection. We will help you!
Stay within your financial abilities. If you are not comfortable with the home price or terms of the deal, go no further.
- Once your offer has been accepted, the clock is ticking towards closing! There are several things to keep in mind:
You will need to purchase a homeowner’s insurance policy that will be effective as of the closing date. Proof of your insurance coverage must be brought to the closing.
You will need to follow up with your mortgage lender to make sure everything is on track. Be prepare to promptly supply updated financial documentation if your lender requests it.
At closing, you will be given many documents to review and sign. You will present a check for the mortgage down payment, and a check for any closing costs that are not rolled into your mortgage.
You will be provided with a Settlement Statement identifying the transaction costs belonging to you and seller. Review all documents, and if you have questions, ask before signing them. You will get copies of the documents for your records.
You will receive the keys to your new home! Smile!
Title to your home will be transferred into your name, and filed with the county office.
THRIVE Real Estate Specialists will be with you throughout the home buying process! We will also stay in touch with you after the closing.