If you are out driving or walking through a neighborhood and you would like immediate information about a home that you see, this app will give you the information. If it is a home that is currently on the market or has recently sold you will get photos and details straight from the MLS. Just snap a photo of the home or your location with one button. We have tested it out and it works very well. Click on the photo to get the app. It’s easy!
Contact John & Cindy Farrell if you want more information or need assistance. 978-468-9576
There are many details to consider when you are planning on purchasing a home. Whether it’s your first time or you have experience it’s important to consider the importance of negotiation. Negotiation starts well before you have even considered whether you will be placing an offer on a home. You don’t know when you will be in the home you decide you would like to buy. If it’s your dream home you will be disappointed if there are multiple offers and you have compromised your chances of being the successful bidder. Below are just five potential mistakes to consider before you find the home that’s right for you.
- Not having a financial plan and a solid pre-approval with a reputable company.
- Being dishonest. Telling the listing agent you aren’t working with another agent when you are. Saying false things about your situation. Seller’s will be concerned about working with an offer from someone that isn’t honest.
- Putting homes under agreement and renegotiating the price repeatedly. It is quite possible you will get a reputation. Remember people know each other in the communities you are trying to buy a home in!
- Insulting the owners and their home as a negotiating strategy. You will not get the home for a lower price. The seller will go with an offer from someone that is more complimentary and someone that they think will be easier to work with.
- Not carefully choosing an agent to represent you. Among many other qualifications. They need to have excellent negotiating skills.
Contact John & Cindy Farrell for information about buyer representation. 978-468-9576
The process of buying a home seems simple enough. You decide to buy, you find a home, you get a mortgage and you move in! It’s not that simple and those steps are only a small piece of the entire process. The following list outlines common mistakes to avoid during the early part of the home buying process.
- Not taking care in choosing the professionals you work with. This includes but is not limited to your real estate agent, attorney, mortgage broker, and inspectors. There could be others depending on the property you plan to purchase. Check references and reviews. This is the most important as these professionals will be your guides and primary source for information. Make sure they are qualified!
Your last trip through your new house before the closing.
From the time you have put the property you plan to buy under agreement, completed your inspections and finalized the sale, quite a bit of time has elapsed. It is imperative that you walk through the home prior to closing to make sure everything is in order and in the same condition as when you agreed to buy it. It is helpful to bring a copy of the contract with you in case it’s needed as a reference. Schedule the walk-through as close to the closing date as possible. (more…)
John & Cindy Farrell – Coldwell Banker
Getting ready to buy a home in Massachusetts. Are you getting ready to buy a home? Are you feeling confused about the process? Each and every real estate transaction is unique in many ways. But there is a standard chain of events that happen and having an understanding of what the process is will make the transaction go much more smoothly and will give you the opportunity to avoid uneccesary delays or pitfalls.
- Interview and hire a Real Estate Agent to assist and represent you. That could be us! We can do that.
- Financing is the first step. You need to know what you will be approved for. In addition, it is important to know what your payments and costs may be so you can decide what you are comfortable with.
- Visit and research homes and locations. Arrange for automated emailsof homes available. Simultaneously research the real estate market.
- While looking for homes decide who you will use for an inspector and real estate attorney.
- Put a well presented offer on the home you choose and secure an agreement to purchase the property.
- Complete the loan application with your mortgage broker.
- Give all the home information and documents that need reviewing to your real estate attorney.
- Complete home inspections by date specified in the contract.
- Sign Purchase and Sale Agreement. Your agent and mortgage broker needs fully executed copies.
- Receive and provide to your real estate agent a mortgage commitment by the date specified in the contract.
- Set up accounts with utilities and secure home owners insurance. You will need proof of insurance, an insurance binder, for your mortgage broker.
- The closing place and time will be scheduled with all parties involved.
- Review the HUD settlement statement.
- Walk through the property right before closing to make sure everything is as it should be when you take ownership.
- Close on your home – Congratulations!
John & Cindy Farrell – Coldwell Banker
Are You Starting a Home Search on the North Shore of Boston? If so, here is a list of what you should be doing right at the beginning of your search.
- Interview agents and hire an agent to represent you. Choosing an agent is one of the most important initial steps you should take. There vast differences in an agents experience, skills and how they work. If you think you won’t be buying for a while it is still a good idea to enlist the help of an agent. The sooner the better.
- Get pre-approved for your mortgage. You should know how much you can spend on a home before you start to look. If a there is a home you would like to pursue you will be able to act immediately and the sellers will know that you are well prepared to follow through. You will also know what you can afford and the payments that will be required.
- Review your finances. Getting a mortgage approval is the most important, but you still need to be comfortable with what a home will cost you every month. Take into account that you will have to maintain the home. Really think about any other expenses that you may have or will have in the near future.
- Choose possible locations and home styles. As the process goes on you may make changes to your search criteria. But you need to have a starting point and a general initial idea of what factors are the most important to you. This many be different for each person.
- Arrange to have automated emails of properties that may interest you. This is the quickest most efficient way to know what is on the market. It is a great tool to learn the market as well.
Have you been given the Massachusetts Mandatory Licensee-Consumer Relationship Disclosure?
Have you seen this form?
The Massachusetts Mandatory Licensee-Consumer Relationship Disclosure is often referred to as the Agency Disclosure form. It is required by law that a licensed agent provide you with this form on the first meeting to discuss a specific property. So whether you are buying or selling real estate you should be given this form by every licensed real estate agent you meet with. It is not a contract. When you sign this form you are acknowledging that you have received and read the information. (more…)
Buying a Home on the North Shore of Boston – Questions to Ask when Hiring a Home Inspector
Care should be taken when hiring a home inspector and there are a few questions that should not be overlooked. We have discussed before the importance of having an inspection. Below a a few questions to ask or things to consider when choosing an inspector. (more…)
Should I have a home inspection?
An important part of the process of purchasing real estate is inspecting prior to completing the sale. We recommend leaving time after the acceptance of your offer, to complete the inspections you choose to have, like radon, zoning, conservation issues etc., so you can make sure you know all that you can about the property prior to moving forward. It’s best to be prepared to have your inspection scheduled as quickly as possible so you have time and you don’t feel rushed. All inspections are not the same, inspectors are different and their areas of expertise can vary a lot so you need to interview. There is also a lot of variation on what needs to be investigated depending on the specific property and the location. There are also issues that may be particularly important to you and you will want to make sure they will be covered.
The Massachusetts Office of Consumer Affairs and Business Regulation puts out a consumer fact sheet that we suggest you take the time to review.
Choosing an inspector carefully and thoughtfully is paramount. If you hire us as real estate agents to represent you as your buyer’s agent we will be able to make recommendations.
The time spent during the inspection is a great opportunity to understand the property you plan to purchase and a good time to learn how to care for your new home and how to maintain it. (more…)