Purchasing a New Home: What to Expect and How to Make Sure the Process Goes Smoothly
Buying a home or property is an important part of the American dream, and if you’re buying in New England, a Newton real estate attorney can help you get the most value for your hard-earned dollars. The first-time home buying process can seem overwhelming because you will have to navigate a complex purchase process and deal with inspectors, real estate agents, title companies, financial lenders, and many other real estate professionals.
Home ownership is a dream for most people, and buying a house can be a valuable investment if you have fully considered your goals, expectations, and the financial commitment it will take. There are many important factors to consider when deciding where and what to buy.
- Have you researched the local housing market?
- Does the home meet your personal needs? Children? Pets? Daily commute?
- How much of a down payment are you prepared to make?
Once you have decided to buy and have found a house that interests you, you will want your agent to do a comparative market analysis to make sure the home’s value is consistent with the selling price. Buying a house, especially in the Boston area, can be a very expensive proposition. Before you enter into any property sale contract, you should consult a Newton real estate attorney.
Making an Offer to Purchase and Protecting Your Investment
Most buyers will use a buyer agent to communicate the offer to the seller’s listing agent. Your offer will generally include a deposit and notification that you have been pre-approved by a finance company. The offer will also include a time frame for the seller to respond. If they accept, you will negotiate a sales contract for the purchase of the home, and a Newton real estate attorney should review the contract terms.
Buying a home is an exciting process, and many buyers get anxious to buy. Just as it is important to make sure you have the financial resources to support the purchase, it is equally important to make sure that the home is a good investment. After making an offer you will want a home inspector to examine the house for any structural problems or other issues such as leaks, termites, or mold. If everything checks out, you agree with the seller on any necessary repairs, and in most cases the listing agent will draft the purchase and sale agreement. We strongly advise that this agreement be reviewed by a Newton real estate lawyer.
Contact a Newton Real Estate Attorney
The Law Office of Alan H. Segal can assist you with any real estate law questions. Our Newton real estate attorneys have years of experience in the local markets and know how to ensure that purchasing your home goes smoothly. Call our team at (781) 444-9676 for a real estate consultation today!