Boston condo transactions can often be confusing, especially for first time home buyers looking to buy a Beacon Hill condo and aren’t unfamiliar with real estate process. The good news? It doesn’t have to be that way! These 5 Beacon Hill condo tips will help you, and all those involved in the transaction, to avoid any frustrations and headaches that can emerge throughout the process.
1. GET PRE-APPROVED, NOT PRE-QUALIFIED:
IT’S FREE! Many Beacon Hill condo buyers make the mistake of searching for a home before they have met with a lender or been pre-qualified. It is ideal that you are “Pre-Approved before touring any Beacon Hill condominiums. This ensures that you are searching for homes that you are able to afford. Real estate agents will often arrange appointments to see the homes that the buyer wants to see. Without being pre-approved, this could lead to frustration and disappointment because you may be previewing homes that are not the best homes for your needs.
2. STAY WITHIN YOUR APPROVED PRICE RANGE:
To avoid disappointment you should only tour homes that are in your price range. It is important that your agent conduct their analysis and review all properties before scheduling appointments to view property.
3. MAKE A WISH LIST:
The best way to make sure that you, your agent, and everyone involved in the search for your perfect Boston Beacon Hill condo are on the same page, is to make a “wish list.” Create a list of features and items that your new home must have. Be sure to review the created list with all decision makers (spouse, parents, kids, etc.) When you have your completed list, take some time to rank the importance of each item. List your “give and take” features, what can’t you live without and what can you?
4. LISTEN TO YOUR BEACON HILL REAL ESTATE AGENT
When it comes to large purchases and big decisions, limit your outside influences to professionals with experience and other important people that you trust. All too often when telling friends, family, and others of your decisions and what you are doing, everyone will chime in with their own input or someone you should talk to. Many of these people or contacts may have no experience in real estate but will still give you their advice. Do yourself a favor and only consult with those whose opinions you truly value and that have experience.
5. PRIOR TO WRITING AN OFFER, HAVE YOUR AGENT CONSULT WITH BEACON HILL LISTING AGENT:
Beacon Hill Listing agents have a fiduciary relationship to the seller. What this means is that the listing agent must act in the best financial interests of their clients (the sellers). These agents will provide your agent with important information to assist you and your agent when preparing the offer. Consulting beforehand will help to avoid unnecessary conflicts and help to ensure that your offer is presented and reviewed. Some examples of this are confirming which escrow and title companies to use, the various time frames for escrow, inspections and disclosures, and more.