Farmers Markets in Boston – Fresh and Local Just Around the Corner!
Grab your tote bags and discover the farm-fresh delights that await you in the different farmers’ markets around town!
My Offer is Accepted – Now What? Buyer Due Diligence and Inspection
Congratulations on having your offer accepted! This marks an exciting milestone in your journey toward owning your dream home. As you move forward in the buying process, there are crucial steps to take to ensure that your investment is secure and that you’re well-informed about the property you’re purchasing. Let’s delve into what comes next: your/buyer due diligence!
Initial deposit
- Your deposit demonstrates your commitment to the purchase.
- Your real estate agent will obtain wiring instructions from the listing agent for you to make the deposit.
- Once the deposit is submitted, your agent will proceed to schedule the inspection, a pivotal step in the due diligence process.
Home inspection
- Remember to bring your checkbook to the inspection to pay the inspector.
- Take the opportunity to learn as much as you can about your potential new home during the inspection.
- The inspector will identify any issues with the property, empowering you to negotiate repairs or adjustments with the seller.
- Work closely with your agent to strategize and submit requests for repairs or adjustments as needed.
- Keep the inspection report confidential, as it contains sensitive information about the property.
- Prior to closing, ensure the liquidation of the Purchase and Sale (P&S) deposit, a significant step towards finalizing the transaction.
Due diligence
- Thoroughly review the condominium documents and disclosures provided.
- Discuss any rules or restrictions applicable to the property with your agent (e.g. the ability to install an EV charger or the types of animals allowed)
- Review the title report with a title representative and your agent to identify any easements or liens on the property.
- Additionally, review the Title V report for septic systems and the Title I report for water quality.
- If the property is leased, carefully examine the lease agreements to understand the terms and conditions.
As you navigate through the buyer due diligence and inspection process, stay vigilant and proactive in addressing any concerns that may arise. Your thorough assessment of the property and clear communication with your agent will help ensure a smooth and successful closing, bringing you one step closer to homeownership.
Helpful resources
How To Get The Best Mortgage Rate
Getting the best mortgage rate is crucial now more than ever due to rising interest rates. Your mortgage rate affects both your monthly payment and the total amount you’ll pay for the loan during its length.
Interest Rates Decoded: Everything You Need to Know
Buying a house can be an exciting and significant investment. Understanding interest rates is an essential aspect of the home-buying process. In the context of Boston real estate, here’s some information about interest rates and how they work.
Finding the Ideal Investment Property
You are about to start one of the best investment experiences of your life if you are thinking about investing in real estate.
Design Your Cambridge
A Design Method to help busy professionals make smart moves in Cambridge | Cambridge+
Mortgage Mistakes to Avoid
One of the biggest financial responsibilities you’ll ever have is a mortgage. Despite this, a lot of people continue to make serious mortgage mistakes on a daily basis.
Buying Vs. Renting
So you’ve saved up enough money for a deposit on a new home. But you’re getting cold feet about buying. Or maybe you’ve hit a wall on your home search. Whatever reason you have, we’re here to remind you of the reasons why you considered buying in the first place!
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