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Home Buying

So you want to buy a home… 

You’ve come to the right place. Kingston REM’s expert agents are well-trained and knowledgeable about home buying in Brookline, MA and beyond. Not only will we dive deep into the market to find great options for you, but we also have multiple resources to check for off-market properties, including our own database. Needless to say, we have you covered!

Let’s get to the specifics. 

First things first, you need to check your buying power. Having a quick consultation with a lender or your bank is the primary way to understand your budget. You do NOT need a 20% down payment to make your purchase! There are several buyer programs available at any given time in any market, so check to see what your preferred lender or bank can offer you.

With your pre-approval in hand, it’s time to engage your agent to discuss home-buying services in Brookline, MA. Schedule a call or meeting with them to connect and get the party started!

Define your needs

If you’ve been renting in Brookline, MA, before, it’s likely you’ve gone through this exercise already. This time, there are some other factors to consider since this may be less of a temporary solution for you. Focus on what’s important for your current and projected lifestyle, such as location, size, and amenities. Also, consider looking for potential ways to add value to your new home. This is a key path towards achieving the “American Dream” when it comes to home ownership.

Identify what’s important to you and make a list. Be sure to determine your “must-haves/deal-breakers” vs. your “nice-to-haves.” As you go through the process, you may see that list flex a bit—don’t be super rigid, but stick with what you know are deal-breakers.

Let’s Go Shopping!

Once you’re ready with your list and have your agent by your side, it’s time to go shopping. Your agent will get you subscribed to Kingston REM’s website, where you can create your own profile, save searches, and even invite friends and family to join the search with you. Identify properties that fit your criteria and match your wish list, and then get out there and have a look!

Make That Offer!

After you’ve identified your dream home, let Kingston REM guide you through the home-buying services in Brookline, MA, or wherever your new home may be. Your expert Kingston REM agent will craft your offer, making sure it’s competitive in the current market. They will also guide you through specific conditions and contingencies so you know exactly what you’re buying. Put your best foot forward and let’s buy that new home!

Be advised that at this time, you will need to bind your offer with an “earnest money deposit.” No offer is officially binding until your offer is signed, sealed, and delivered with the deposit. There is no standard amount for this deposit, but we usually see amounts range from $1,000 to $5,000. This deposit is non-refundable should you decide to withdraw your offer outside of your contingencies, so make sure you’re ready to move forward!

Holy sh*t- your offer was accepted!

A hearty “Congratulations!” is in order! Let’s discuss the next steps.

Onto the due diligence portion of your buying process. This is when you will need to satisfy things like your home inspection, condo doc review (if applicable), and complete your mortgage application. We have a thoroughly vetted group of premier lenders, home inspectors, and attorneys to ensure a smooth transaction. Don’t worry—if you have an inspection contingency, there is still time to withdraw your offer should you find repairs that are more costly than what you agreed to.

Home Inspection

A home inspection is a crucial step in the buying process. Here are some tips to ensure you get the most out of your inspection:

  • Hire a Qualified Inspector: Choose a certified home inspector with a good reputation and extensive experience. Check their Google reviews and other resources like Angie’s List, etc.
  • Attend the Inspection: Being present allows you to ask questions and get a firsthand look at any potential issues. Inspectors can have very flexible schedules but you should expect a 2-3 day lead time.
  • Focus on Major Issues: While cosmetic issues can be easily fixed, pay attention to major problems like structural issues, roof condition, plumbing, electrical systems, and HVAC. In other words, don’t sweat the small stuff.
  • Review the Report: Carefully review the inspection report and discuss any concerns with your agent. Decide if any repairs are deal-breakers or if you need to negotiate with the seller. It’s quite common to re-negotiate terms, pricing, etc. post-inspection.
  • Follow-Up Inspections: If major issues are found, consider getting a specialist (e.g., plumber, electrician) to conduct a follow-up inspection. This will give you context as to whether or not it truly is a deal-breaker and//or a ballpark figure as to what it will cost to repair or replace.

Hire A Real Estate Attorney

You will also need to engage a real estate attorney to assist you with your purchase. Once your contingencies are satisfied, you will need to sign the Purchase and Sales agreement, commonly referred to as the “P&S.” This document outlines the specific terms and conditions of the sale and is negotiated between your attorney and the seller’s attorney. Make sure you review this document with your attorney and your Kingston REM agent before signing.

After the P&S is executed, you will need to submit another deposit- expect around 5% of the purchase price, less the amount of your offer deposit. This is a non-refundable deposit should you decide to withdraw your offer outside of your remaining contingencies (mortgage contingency, title defects if specified in your P&S, etc.).

Final Steps Before Closing

Now is the time to button up your mortgage conditions with your lender and wait until closing. If you need to visit the property to measure for your furniture ahead of your trip to Crate & Barrel, now’s the time to do this. Contact your Kingston REM agent to facilitate your visits to the property—you’re granted a specific number of visits to the property in your P&S. You will also have the ability to do a final walkthrough of the property, typically performed close to or on the day of your closing. You will need to verify that the property is in the same or better condition as you agreed to purchase it in. If it’s not, your Kingston REM agent will go to bat for you to ensure it’s delivered to you properly.

Closing Day

On your closing date, you will need to be prepared to sign the loan and property documents, including the deed, in person. Plan to spend a couple of hours doing this at your attorney’s office or a mutually agreed-upon location. Bring a pen and two forms of identification, as this is required. You’ll want to exercise your signing hand too—it’ll be put to work!

That’s it! You’re now the proud owner of your new home! Meet your Kingston REM agent for your keys and snap a picture for your social media accounts so all your friends and family can be proud of your accomplishment.

Remember to leave a 5-star review for your Kingston REM agent and tell all your friends and family to see us for their home-buying services in Brookline, MA!