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The Essential Boston Home Buyer's Guide

Welcome to one of America's most dynamic and sought-after real estate markets. Buying a home in Greater Boston whether it's a sleek condo in the South End or a sprawling family house in a top-rated suburb like Needham or Wellesley requires strategy, speed, and local expertise.

As your dedicated Boston real estate partner, I'm here to guide you through the process, from pre-approval to closing day.

Phase 1 : Financial & Team Preparation (The Foundation)

In a competitive market like Boston, being prepared is your biggest advantage.
Get Pre-Approved, Not Just Pre-Qualified

  • The Critical Step: A pre-approval letter from a reputable mortgage lender in Massachusetts is mandatory before looking at homes. It involves a hard credit check and verification of your income and assets.

  • Why It Matters: A seller will not seriously consider an offer without a valid pre-approval letter attached. It proves you are a qualified and serious buyer.
     

Assemble Your Dream Team​

In Massachusetts, the home buying process is more complex than in many other states and requires a dedicated team:

  • Buyer’s Agent: Your advocate. I analyze market data, craft competitive offers, and negotiate on your behalf.

  • Real Estate Attorney: Mandatory in Massachusetts. An attorney handles the legal side, reviewing the Offer to Purchase and the Purchase & Sale (P&S) Agreement, ensuring all legal requirements are met.

  • Mortgage Broker/Lender: Secures your financing.

 

Understand the Massachusetts Offer Process

The process often moves in two stages:

  • The Offer to Purchase: A short, initial, legally binding contract that outlines the price and key contingencies (e.g., home inspection). You typically include an earnest money deposit (EMD) of $1,000–$5,000.

  • The Purchase & Sale (P&S) Agreement: A much more detailed and comprehensive contract (reviewed by your attorney) signed 7-14 days after the offer is accepted. This requires a larger deposit (often 5% of the purchase price, minus the EMD).

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Phase 2: Home Search & Selection

Greater Boston offers incredible diversity, from vibrant urban life to quiet, top-tier suburbs.

Define Your Priorities & Neighborhoods

Boston is known for its hyper-local markets. Consider:

  • Commute Time: Do you need proximity to the MBTA Commuter Rail?

  • School Districts: (A major driver of home prices in suburbs like Newton, Wellesley, and Lexington).

  • Property Type: Condo (most common urban choice), Single-Family Home, or Multi-Family Home.

 

Boston Market Insight: The median sale price in the City of Boston is currently around $800,000, with highly competitive sub-markets often seeing 3-5 offers per property.

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​Phase 3: Due Diligence & Closing

After your offer is accepted, the real due diligence begins.

The Home Inspection

While it's common for buyers to waive the inspection contingency in highly competitive situations, I strongly recommend a professional inspection. This is your chance to uncover any potential major issues (roof, foundation, systems) before committing fully.

 

Attorney Review and P&S Signing

Your attorney ensures the title is clean and reviews the final Purchase & Sale agreement. At this signing, the larger P&S deposit (usually 5% of the total price) is due.

 

Appraisal and Final Underwriting

Your lender will order a property appraisal to ensure the home's value justifies the mortgage loan amount. The loan moves into final underwriting, where all conditions (like insurance and appraisal) must be met.

 

The Closing Day

This is where the property title is transferred to you! You, your attorney, and your lender will meet to sign all final documents. You will need to bring a Certified Bank Check (or Wire Transfer) for the final closing costs and down payment balance

Boston Real Estate Agent FAQ  

As your Boston real estate agent, I’ve gathered the most common questions clients ask when buying or selling homes in Greater Boston. Whether you’re a first-time buyer or preparing to sell, these FAQs will help you understand the process.

What’s the first step in buying a home?

The first step is getting pre-approved for a mortgage.
That gives you a clear idea of your budget and shows sellers that you’re a serious buyer.

How much do I need for a down payment?

It depends on the type of loan and your financial situation.

  • Many buyers put between 5% - 20% down, but some programs allow as little as 3%.

  • For investment properties, it’s usually higher  around 15% - 25%.

What other costs should I expect when buying a home?

In addition to the down payment, you’ll need to plan for:

  • Closing costs (typically 2–5% of the purchase price)

  • Home inspection and appraisal fees

  • Property taxes and insurance

How long does it take to buy a home from start to finish?

Once your offer is accepted, the process usually takes 30–60 days.
However, the search for the right property can take longer depending on your criteria and market conditions.

How do you determine the right price for my home?

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