Buyer Representation in Belmont, Watertown, & Boston-Area Communities
Our company represents our clients’ best interests throughout the entire home-buying process. So whether you’re buying a starter home, your dream home or an investment property, take advantage of our experience as local market experts so you can make the most informed decisions possible, every step of the way.
We highly encourage our clients to get pre-approved for a mortgage loan before beginning the home-buying process. Applying for a loan helps you figure out the amount you can afford to borrow and the maximum mortgage amount you qualify for based on your particular finances and income. Mortgage pre-approval establishes your price range and strengthens your buying position when the seller knows you have already been approved for a loan. A seller will more than likely negotiate with a pre-approved buyer over a buyer who has not yet applied for a loan. We work with a variety of highly reputable banks and mortgage brokers and can help you with this process.
A home warranty policy protects new homeowners from the major expenses that may stem from an unexpected mechanical failure to a major home system or appliance. For a moderate premium, payable at closing, you can acquire a policy that protects you after closing from major repair or replacement bills for one year. Our Berkshire Hathaway HomeServices Home Warranty policies are renewable on an annual basis.
Buying a home should be a pleasurable experience. As Berkshire Hathaway HomeServices Commonwealth Real Estate Adams Lawndale helps you search for your dream home, keep these tips in mind.
Plan ahead: Don’t wait until you’ve found a home you’d like to make an offer on to get approved for a mortgage. Investigate home insurance and determine your moving timeline.
Hire a Berkshire Hathaway HomeServices Commonwealth Real Estate Adams Lawndale Buyer Agent: Our Buyers’ Agents represent our buyer clients’ best interests. Our real estate professionals are dedicated to meeting the specific needs of our buyers. We are experts in the real estate market and are intimately familiar with the communities we serve.
No home is perfect: It may be in the right location but the yard is a bit smaller than you had hoped. The kitchen may be the perfect size but the dining room is too small. Make a list of your top priorities and focus on the things that are most important to you and your family.
Don’t ask for too many opinions: It’s natural to want reassurance for such a big decision, but too much feedback from too many people will make it a harder decision to make. Focus on the wants and needs of your immediate family – the people who will be living in the home.
We encourage you to hire a reliable, independent home inspector for advice on the overall condition of the property before you finalize the purchase at closing. The cost for any inspections and re-inspections are usually paid for by the buyer.
Common home inspections include:
EMP (Electrical, Mechanical and Plumbing)
Real Estate Attorney: We recommend that you hire an attorney who specializes in real estate.
For more information about how to best approach the home-buying process, give us a call today.
Buying a Foreclosure
Foreclosure is a process in which a lender attempts to recover the amount owed on an outstanding property loan once there is a default of payments. Berkshire Hathaway HomeServices Commonwealth Real Estate Adams Lawndale has the skills and knowledge to make the foreclosure process as smooth as possible for buyers.
Steps for Buying a Foreclosure:
1. Get Financed – To be considered a serious buyer, sellers want to know that you are in a position financially to purchase the property. That’s why it’s important to get pre-qualified before beginning any negotiations. Obtaining financing information helps you understand what you can afford and allows you to move quickly once you find a property that you want to purchase.
2. Contact your Realtor – Whether you’re a first-time homebuyer or an experienced investor, it is always wise to work with a professional realtor when dealing with foreclosures.
3. Contact the Seller – The seller will either be the property owner in default, the trustee, or the foreclosing lender.
4. Make an Offer – How you make an offer will depend on the status of the property and the current owner. An offer should fall somewhere below the market value of the property, but above the total outstanding loans and encumbrances.
Buying a Short Sale
Short sales are usually the best solution for homeowners who owe more on their properties than they are worth. A short sale occurs when the homeowner finds an interested buyer and negotiates with the lender to accept less than the full balance of the loan at closing, typically to avoid foreclosure. Once the buyer closes on the property, it’s is considered ‘sold short’ of the total value of the loan. The process requires a lot of mental stamina but it can yield positive results for all. To qualify for a short sale, the homeowner must prove financial hardship, monthly income shortfall and insolvency.