A Guide to Buying a Home
“A home is one of the most important assets that most people will ever buy. Homes are also where memories are made and you want to work with someone you can trust.” Warren Buffett Chairman and CEO, Berkshire Hathaway Inc.
To begin - Meet to discuss your wants and needs - Explain and review the process of a real estate purchase on the Outer Cape - Explain and discuss fiduciary relationships - Review and sign a Buyer’s Exclusive Agreement
Some of the Services I Provide to my Buyer Clients • Property Search Leveraging multiple sources including the MLS, for sale by owners, and builders to identify properties that match the buyer’s specifications. • Property Viewings Accompanying buyers on property showings or previewing properties on their behalf to determine if they meet their criteria. • Property Research Research selected properties to uncover any potential problems or concerns of which you should be aware. • Insight on List Price Provide a comprehensive comparable market analysis, enabling you to make a well informed purchasing decision. • Strategic Offer Structuring Assist in crafting a strategically sound Offer to Purchase with terms and conditions that align with the property’s value, marketing conditions, and your best interests. • Skilled Negotiations Working diligently on the buyer’s behalf to secure the best possible terms for your purchase, always keeping their interests at the forefront. • Document Guidance Explain all documents related to the purchase, ensuring that you are fully informed and comfortable with the transaction. • Streamlined Inspections Coordinate property inspections to guarantee a thorough assessment, providing you with accurate insights into the property’s condition. • Mortgage Financing Provide recommendations for securing appropriate financing, helping you navigate the financial aspects of the purchase with confidence. • Post-Closing Support Connect you with trusted vendors to help with your post-closing needs, ensuring a seamless transition into your new home. “A home is one of the most important assets that most people will ever buy. Homes are also where memories are made and you want to work wirth someone you can trust.” Warren Buffet Chairman and CEO, Bershire Hathaway Inc. Some of the Services I Provide to my Buyer Clients • Property Search Leveraging multiple sources including the MLS, for sale by owners, and builders to identify properties that match the buyer’s specifications. • Property Viewings Accompanying buyers on property showings or previewing properties on their behalf to determine if they meet their criteria. • Property Research Research selected properties to uncover any potential problems or concerns of which you should be aware. • Insight on List Price Provide a comprehensive comparable market analysis, enabling you to make a well informed purchasing decision. • Strategic Offer Structuring Assist in crafting a strategically sound Offer to Purchase with terms and conditions that align with the property’s value, marketing conditions, and your best interests. • Skilled Negotiations Working diligently on the buyer’s behalf to secure the best possible terms for your purchase, always keeping their interests at the forefront. • Document Guidance Explain all documents related to the purchase, ensuring that you are fully informed and comfortable with the transaction. • Streamlined Inspections Coordinate property inspections to guarantee a thorough assessment, providing you with accurate insights into the property’s condition. • Mortgage Financing Provide recommendations for securing appropriate financing, helping you navigate the financial aspects of the purchase with confidence. • Post-Closing Support Connect you with trusted vendors to help with your post-closing needs, ensuring a seamless transition into your new home. Some of the Services I Provide to my Buyer Clients • Property Search Leveraging multiple sources including the MLS, for sale by owners, and builders to identify properties that match the buyer’s specifications. • Property Viewings Accompanying buyers on property showings or previewing properties on their behalf to determine if they meet their criteria. • Property Research Research selected properties to uncover any potential problems or concerns of which you should be aware. • Insight on List Price Provide a comprehensive comparable market analysis, enabling you to make a well informed purchasing decision. • Strategic Offer Structuring Assist in crafting a strategically sound Offer to Purchase with terms and conditions that align with the property’s value, marketing conditions, and your best interests. • Skilled Negotiations Working diligently on the buyer’s behalf to secure the best possible terms for your purchase, always keeping their interests at the forefront. • Document Guidance Explain all documents related to the purchase, ensuring that you are fully informed and comfortable with the transaction. • Streamlined Inspections Coordinate property inspections to guarantee a thorough assessment, providing you with accurate insights into the property’s condition. • Mortgage Financing Provide recommendations for securing appropriate financing, helping you navigate the financial aspects of the purchase with confidence. • Post-Closing Support Connect you with trusted vendors to help with your post-closing needs, ensuring a seamless transition into your new home.
BUYER REPRESENTATION AGREEMENT Our buyer representation agreement solidifies our commitment to exclusively representing your interests throughout the home buying process giving you peace of mind knowing that your needs come first. In most real estate transactions, there are two agents involved: one representing the seller and one representing the buyer. Each agent aims to secure the best terms for their client. A represented buyer is well-informed and has an agent dedicated to ensuring a successful closing. HOW A BUYER’S AGENT GETS PAID Sellers are not required to offer a commission to the Buyer’s Agent. This means buyers must be prepared to pay their agent out of pocket if necessary. As your Buyer’s Agent, our job is to secure the best terms for your purchase, so we will strive to negotiate a seller-paid commission structure. Under the new regulations, sellers are often advised to consider a willingness to include a buyer’s fee as part of the negotiation with the terms of the offer. Participating in the Buyer’s Agent’s commission can help buyers afford more and ensure a smoother transaction.
Pre-approval The first step towards buying a home is determining how much you can afford. As soon as you start actively looking for a home, you need to talk to a qualified mortgage loan officer. I can connect you to a couple of local officers to discuss your options with you. There are two sections to any mortgage application: you as the buyer and the property. A pre-approval is a credit commitment based on your financial situation, given by the lender’s underwriter. A credit approval requires documentation of all assets, income, debt, and credit history. A maximum mortgage amount and interest rate will be determined by analyzing the documentation you provide. The pre-approval is conditional, requiring an executed Purchase and Sale Agreement and satisfactory appraisal on the subject property. After you have submitted the required paperwork, this should take no more than one working business day depending on the type of mortgage for which you have applied. This is often taken over the phone, and may need only a signature depending upon the lender or program. In today’s market, the vast majority of Buyers are pre-approved for a mortgage when they make an offer to purchase. You will be able to compete if you also make an offer while pre-approved. Because all conditions to the approval are listed on the pre-approval letter, the Seller can see just how strong a Buyer you are. Pre-approval The first step towards buying a home is determining how much you can afford. As soon as you start actively looking for a home, you need to talk to a qualified mortgage loan officer. I can connect you to a couple of local officers to discuss your options with you. There are two sections to any mortgage application: you as the buyer and the property. A pre-approval is a credit commitment based on your financial situation, given by the lender’s underwriter. A credit approval requires documentation of all assets, income, debt, and credit history. A maximum mortgage amount and interest rate will be determined by analyzing the documentation you provide. The pre-approval is conditional, requiring an executed Purchase and Sale Agreement and satisfactory appraisal on the subject property. After you have submitted the required paperwork, this should take no more than one working business day depending on the type of mortgage for which you have applied. This is often taken over the phone, and may need only a signature depending upon the lender or program. In today’s market, the vast majority of Buyers are pre-approved for a mortgage when they make an offer to purchase. You will be able to compete if you also make an offer while pre-approved. Because all conditions to the approval are listed on the pre-approval letter, the Seller can see just how strong a Buyer you are.
The Offer When you sign the Offer to Purchase real estate, you will be asked to submit a deposit to show you are earnest about your desire to purchase the property. A common earnest money deposit is $1,000 but may be more depending on the offering price of the property. The offer will contain: Your offering price Additional deposit to be paid when signing a Purchase and Sale Agreement Date for signing the Purchase and Sale Agreement Closing date Any inspection contingencies Mortgage contingency (if any) Any other contingencies which may be appropriate for the particular transaction
The inspections Inspections should be done within seven (7-10) days of the accepted offer. Remember that the date included in the offer is the deadline by which you must put in writing any objection, request for adjustment, or rejection of the property. If the date passes without anything in writing from you, it is assumed that all inspection contingencies are satisfied. Your earnest money deposit may be retained by the Seller if you do not meet these deadlines or fail to close. The Purchase and Sale agreement The Purchase and Sale Agreement formalizes in more detail the original Offer to Purchase. It expands upon what has already been agreed, without changing the original terms unless both parties agree. It is usually drafted by either attorneys for the Buyer and Seller. The date for signing a Purchase and Sale Agreement is customarily 10-14 days after the acceptance of the Offer. Normally, when the Purchase and Sale Agreement is signed, the last remaining contingency is the mortgage contingency. Remember, this is when the balance of your remaining (5% or 10%) deposit is due. This timeline represents approximately 30-45 days.
17 Common Steps to a Transaction 15 16 14 13 12 BUYER AGENCY DISCLOSURE 1 EXCLUSIVE BUYER AGREEMENT 2 LOAN EVALUATION 3 FIND YOUR DREAM HOME 4 SELLER’S DISCLOSURES 5 OFFER PRESENTED 6 PURCHASE NEGOTIATION 7 GOOD FAITH DEPOSIT 8 INSPECTION PERIOD 9 10 SECOND GOOD FAITH DEPOSIT 11 LOAN APPLICATION PROCESSED AND APPRAISAL ORDERED CONTINGENCIES SATISFIED TITLE SEARCH CLOSING DOCS ISSUED FINAL WALK THROUGH TRANSACTION CLOSED 17 PURCHASE AND SALE AGREEMENT EXECUTED
The closing The closing is generally held at the office of the bank’s attorney or at the Registry of Deeds. It may however be held anywhere that is mutually agreed upon. At the closing you will need funds as directed by the lender’s attorney as well as your personal checkbook for additional amounts that may be due because of adjustments. You will also need to produce a legal form of identification. There will be many, many documents for you to sign. Your attorney will review the documents and explain and approve them for your signature. After approximately one-two hours and once the deed is recorded, you will be declared the proud owner(s) of your new home!
Some helpful things to consider during your home search Inspections are intended to uncover any major problems or to detect serious structural, mechanical or other defects in a home that you might not have seen in an ordinary viewing of the home. It is not meant to gather a list of minor repairs that the home might need. After seeing a home, share your impressions with me. The more you share with me, the better I will be able to find the right home for you, saving you time. Whenever you see another company’s ad for a home in which you may be interested, please give me a call or text a picture. I can tell you about it and show it to you. Whenever you see an Open House advertised on a home you might like to see, please call me. Finally, please call me with any questions you may have or information you may need. I am always available at your convenience.
OFFICE LOCATIONS MA Belmont Cambridge Dover Framingham Franklin Hopkinton Lexington Lynnfield Medfield Natick Needham Newton Reading Saugus Shrewsbury Somerville Waltham Watertown Wellesley Winchester RI East Greenwich Newport BHHS Commonwealth Real Estate MA Barnstable Boston Chatham Falmouth New Bedford Marion Orleans Osterville Provincetown Sandwich Scituate Wellfleet BHHS Robert Paul Properties Worcester Providence Boston BHHS Commonwealth Real Estate BHHS Robert Paul Properties KEY: OFFICE LOCATIONS ©2025 BHH Affiliates, LLC. An independently owned and operated franchisee of BHH Affiliates, LLC. Berkshire Hathaway HomeServices and the Berkshire Hathaway HomeServices symbol are registered service marks of Columbia Insurance Company, a Berkshire Hathaway affiliate. Equal Housing Opportunity. MAX CLIGGOTT-PERLT 774.538.9445 max@robertpaul.com max.robertpaul.com
RkJQdWJsaXNoZXIy NjE5