Why is now the right time to purchase a home?
Where do I want to be in life three years from today?
What do my friends, family, and those who know me best think about me buying a home?
Can I articulate my wants vs. needs?
Do I have a pattern of making emotional decisions? Could this possibly be one?
Do I trust the people I’ve hired to help me in this process?
Identification: (Driver’s license, social security card, passport, etc.)
Income verification: (W-2s, pay stubs, tax returns, bank statements, etc.)
Debt records: (auto loans, student loans, credit card statements, tax liens, etc.)
Proof of assets: (bank statements, retirement and/or brokerage accounts, etc.)
Other documents: (rent history, court orders, etc.)
In a balanced market, it takes 4 ½ months, on average, to find a home, plus 30-45 days to close once you're under contract. The timeline can vary widely, however, based on your urgency, the time of year, financing needs, and current inventory.
Buyer Tip:
The first thing to know is you’re not alone: 71% of buyers are also, simultaneously, sellers. The key to success on both ends of the deal is having a realtor to guide you through:
Not everyone should buy a house. It's true. And while I admit I LOVE selling homes, what I love even more is helping clients achieve clarity on the choice that's right for them.
And sometimes, the choice to rent IS the smartest one.
So you can see what I mean, here are a few scenarios when I’ve encouraged would-be buyers to sit tight, keep renting, and press pause on buying (at least for a little while):
Schedule an inspection as soon as you go under contract. You will have a due diligence period (typically 5-14 days) to get the inspection done and make decisions about repairs.
You and your agent should be present during the inspection (the seller and seller’s agent may be there, too), but stand back and let the inspector do his work. He will go over his findings with you afterward and send you his official report a day or so later.
Work with your agent to determine the repairs you’d like your seller to make. Repairs addressing safety issues are of first importance. All others should be carefully assessed - you don't want to nickel and dime your seller.
If the list of repairs is too costly, you need to ask yourself if you’re willing to take them on after closing. If not, it may be right to walk away. .
Not in Massachusetts? Ask me how I can find you the perfect Realtor for your area!
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