The Home Buying Process

Your Guide to Purchasing Property

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Why Work with a Buyer's Agent?

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 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.

Steps to Buying a Home

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 seller's 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.

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What to Expect from Your Buyer's Agent

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.

People to Have on Your Team

The Right Tools For Your Search

DEPOSIT LINK

A simple, secure, and efficient way to send earnest money deposits electronically. Payments clear in less than 24 hours. You can safely send your deposits from anywhere. Track the status of transfers in real-time with your phone.

OFF MARKET & COMING SOON

Our powerful local network has access to exclusive off market inventory as well as properties before they launch on the MLS.

REALSCOUT

A collaborative home search tool that allows our clients and their buyer's agent to share listings, compare properties and spotlight market alerts throughout the home buying process.

SOTHEBY'S INTERNATIONAL
REALTY® WEBSITE AND APP

Our enhanced website now in 14 languages engages millions of buyers via high-resolution photography, 3D virtual reality tours, and ultra-high-definition videos. Listings from around the globe can be accessed seamlessly on any device and mobile users can directly text their buyer's agent from any listing page.

Local Expertise, Global Connections.

# 1 Massachusetts Based Firm Locally owned and operated, Gibson Sotheby's International Realty is Massachusetts's largest independent real estate company and the premier provider in luxury real estate across Eastern Massachusetts. With over 450 expert real estate advisors throughout our 26 offices coupled with our powerful network of more than 1,000 Sotheby's International Realty offices worldwide, we truly have the power to assist wherever your real estate needs may take you. Proudly serving Boston, Greater Boston, MetroWest, the North Shore, South Shore, South Coast and Cape Cod.

26

Local Offices

450

Local Agents

81

Countries & Territories

1,075

Global Affiliate Offices

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Get assistance in determining current property value, crafting a competitive offer, writing and negotiating a contract, and much more. Contact me today.

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Contact Details

Joe Marini

Phone

(617) 319-4186

Email

[email protected]

Address

556 Tremont St. Boston, MA 02118

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