For Buyers

At Brosnan, we attribute buyer satisfaction to this simple yet effective theory: more is less. The more the broker does, the less the buyer has to worry about. With this theory in mind, our brokers work tirelessly to simplify the home buying process. From the pre-approval to the closing table, we are available to answer questions, show you homes, get you the best price and terms, schedule inspections, and provide assistance every step of the way.  Our dedicated staff work together so that when you are navigating through the home buying process there is a team of people on board ready to help you at every turn. We have provided a brief outline of the steps to buying a home and hope that it will offer a better understanding of this process.  When you are ready to begin contact one of our professionals. Don't forget to register for Free Daily Emails to keep you updated on your search.

What is the Selling Process?

The Pre-Approval
The first step toward buying a home is the pre-approval. Although many would of us would like to purchase an oceanfront mansion, it may not fit our budget. The pre-approval will let you narrow your search to properties that fit your budget. In the resources section, a list of mortgage brokers can provide a helpful start.

Viewing Homes
After the pre-approval, the search begins.  It is important to sit down and consider what is important to you. Location? Price? Square Footage? Local Schools? Yard? Once you figure out your parameters, discuss the same with your agent. The search for a home can be time consuming. An experienced buyer’s agent is a cost effective way to save time and energy, with no charge to you. They will attend open houses, search MLS (Multiple Listing Service) database, locate homes that are for sale by owner, and preview properties on your behalf.

Offer To Purchase
Once a property is found, the next step is making an offer. An Offer to Purchase is an expression of willingness to purchase a property at a specified price. Basically, it is the initial document that tells the seller what you will pay for the property.  The offer begins the negotiations. The seller can then accept the offer, reject the offer, or counteroffer for terms more suitable to them. The offer is a standard form document, which dictates the buyer’s proposed terms and conditions. An offer can include many or no contingencies. The most common contingencies include a home inspection, pest inspection, and a mortgage contingency.

Scheduling Inspections
A home inspection is a thorough inspection by a professional that evaluates the structural and mechanical condition of a property. It is a typically a contingency of the buyer as it provides an opportunity to determine the condition of the property.  For example, a buyer makes an offer of $100,000.00, but discovers during the home inspection that the roof is going to collapse in a few weeks. At this point, the buyer must consider the price of fixing or replacing the roof, and factor that cost into the price of the home. A home inspection is strongly recommended for every property. Our agents will work with you to schedule and attend the inspection, as well as, consider and advise based on the recommendations of the home inspector.

Purchase And Sale Agreement
The Offer to Purchase begins the negotiations and the Purchase and Sale Agreement finalizes those terms and conditions. A Purchase and Sale Agreement is a written contract signed by the buyer and seller stating the terms and conditions under which a property will be sold. Upon signing the Purchase and Sale Agreement, the buyer provides the down payment, which is deposited in the seller’s agent escrow account.

Financing Your Property
Investing in a home today is an extremely attractive proposition. Interest rates are at their lowest in decades. Sorting through the numerous mortgage options available to today's home buyers can be intimidating for everyone from first-time purchasers to long-time owners. First, it's necessary to know exactly which kinds of institutions will lend you money. Banks, trust companies, credit unions, private lenders and mortgage brokers all offer programs. There's also the option of consulting a mortgage broker. Brokers have access to a wide variety of lending sources, including domestic banks and trust companies, but they can also employ other alternatives such as pension funds, real estate syndicates and foreign banks. Typically, lenders will require a signed Purchase and Sale Agreement before proceeding with the loan.

Walkthrough and Closing
One of the last steps is the final walk-through. This provides an opportunity for the buyer to inspect the property before the closing. It typically happens on the day of the closing. The final step in the home buying process is the closing or passing of papers. A closing is the act of transferring ownership of a property from the seller to the buyer in accordance with a sales contract. The seller delivers the deed and the buyer pays for the property. It is the date on which literally the keys are given to the buyer. In Massachusetts, a closing statement is required to account for the funds from the sale of the property. It provides a financial record for both the buyer and the seller reflecting all costs associated with the sale including all deposits, service fees, and closing costs. Once all papers are signed, the deed and the mortgage with all riders are placed on record at the respective registry to legally reflect the transfer of title to the buyer. Congratulations on the purchase of your new home.

Ready to Buy