Getting Started as a Buyer

Review the section of our BCR web site on Choosing Your Real Estate Agent. The suggestions found there will make the difference in how successful you will be in the buying process.

One common pitfall to avoid is to choose an agent because he/she is a family member, close friend, or friend of a friend. If a realtor has all the qualifications you determine you need and is a family member or friend, all the better, but keep your priorities in proper order.

To receive the maximum level of professional representation while purchasing real estate, you will want to create a client relationship with your agent and have them represent you as a buyer's agent. Under current Massachusetts law, real estate agents work with consumers as: seller's agents, buyer's agents, facilitators or disclosed dual agents. Make sure you have a good understanding of each of these relationships from your agent before signing the mandatory licensee-consumer relationship disclosure which is required by Massachusetts state law.

The next important step is to have your agent guide you through the mortgage pre-approval process. You may have a good idea of the kind of home you want and what you are comfortable spending. However, a good mortgage originator will provide you with valuable information, guidance and a letter stating you have been pre-approved for a loan, which will be important at the time of presenting your offer to purchase to a seller.

Now you need to sit down with your agent before viewing any homes to determine what features you absolutely must have in a home, which ones you would like to have and which ones you can compromise on. This important step will eliminate a lot of frustration later on and allow your agent to work more efficiently for you.

Now your agent can prepare a list of properties for you to see. It's important for all the decision makers to see the available properties together - inside and out - don't just do drive-bys. When it's time to make an offer, you'll want to have seen all the inside features of the competing homes so you'll be better informed and prepared.

Once you've selected the property you'd like to purchase your agent will work closely with you to prepare an offer to purchase with all the necessary disclosures and contingencies to protect your interests, and work diligently to get your offer accepted with the most favorable price and terms possible.

After your offer is accepted, your agent will help you arrange for a home inspection, finalize the purchase contracts and help you set up and manage all the details to get through a successful closing.