Buyers Tips and Hints

Some tips and hints that may help you in your home search and purchase.

Helpful Home Buyer tips.

  • Break down home payments in a monthly fashion and make sure to add in the city/town taxes, insurance, PMI and any HOA fees to get a real monthly number that you can match up to your monthly income and other expenses to know where you will stand.  The mortgage App on the lower right-hand side of our website is great for this.  Match this number up against your current rental payments to great a good idea of what monthly payment range you are comfortable with.

  • Remember in most if not all instances a home will not have 100% of what you are looking for.

  • Always use the Home inspection process after an offer is accepted to make sure the home does not have any hidden faults that would change your mind about buying it.

  • Please remember that every home inspection finds faults with any property so be ready for it and keep your eye on the major items and items that would be a deal breaker to you.  The home inspection is like an insurance policy looking for major defects that could turn the home into a money pit that you would be better off walking away from and finding something better.

  • When getting ready to buy a home watch your purchases around that time as some purchase can affect your pre-approval and loan approval amounts.  No big credit card purchases, no new cars.  Wait until the home closes for these if they fit your budget.

  • When in the counter offer process remember that in Massachusetts a verbal offer is not binding and you need to have it in writing and signed by both parties.  So once you have reached an agreement get that offer signed and over to the Seller for signing.

  • Around 10 – 15 days before closing you will need to have from your lender a Loan commitment letter stating that you are approved for the loan and that the lender is ready to move forward with the closing.  You need to make sure you get this or get a signed time extension to protect your earnest deposit money on the P&S.  The bank may only need a day or two more to approve the commitment but get the signed extension no matter what.

  • Foreclosures may seem like a great deal, but always take into consideration that most if not all of them need lots of work and will cost you some money to be up and running before move in.