Boston condos for sale: Offer is accepted now what?
Boston Condos for Sale and Apartments for Rent
Boston condos for sale: Offer is accepted now what?
- Deposit Earnest Money: Typically, you’ll need to submit an initial deposit (often $1,000 or a small percentage) to the listing broker’s escrow account within 24–48 hours to bind the contract.
- Hire a Real Estate Attorney: In Massachusetts, attorneys are essential for drafting and reviewing the “Purchase and Sale” (P&S) agreement. They will also handle the title search to ensure there are no liens.
- Schedule the Home Inspection: You usually have a 7–10 day window to conduct inspections. For a Boston condo, ensure the inspector looks at shared systems if possible and review the Bostonreb.com condo guide for potential red flags like high condo fees.
- Notify Your Lender: Formally apply for your mortgage. With 2026 interest rates stabilizing around 6.3%, ask your lender about “locking in” your rate to avoid fluctuations before closing.
- Review Condo Documents: Your attorney must review the condo association’s “Master Deed,” bylaws, and recent meeting minutes.
- Request a 6(d) Certificate: This document proves the seller is current on all condo fees. Without it, the sale cannot close.
- Check the “Health” of the HOA: Review the association’s reserve funds and ask about any upcoming special assessments (large one-time fees for projects like roof or elevator repairs).
- Second Deposit: At this stage, you typically provide an additional deposit, bringing your total “skin in the game” to roughly 5% of the purchase price.
- Contingencies: Ensure your P&S includes a mortgage contingency, giving you an “out” if your final loan isn’t approved by a specific date.
- Appraisal: Your lender will order an appraisal to confirm the condo’s value.
- Insurance: Secure a “walls-in” (HO-6) insurance policy, which is specifically required for condo owners in Massachusetts.
- Final Walkthrough: Conducted 24–48 hours before closing to ensure the unit’s condition hasn’t changed.
For the most updated information on the Boston condo for sale process, visit Ford Realty Inc web site or Bostonreb.com
Peace be with you
Boston real estate for sale in South Boston
This content is currently unavailable. Please check back later or contact the site's support team for more information.
View Boston condos for sale in South Boston. Updated in real-time.
All Downtown Boston real estate listings updated in 2026
Click Here to view: Google Ford Realty Inc Reviews
Boston condos for sale: Offer is accepted now what?
The first week to ten days after “ratification” (seller accepting your offer) are essentially a juggling act. Here are the five things you should be prepared to do:
1. Place your deposit into the escrow
You’ll need to wire in your good faith deposit (typically $1,000 ). You can write a check. Make sure that deposit money is liquid and able to be transferred within two business days of ratification to the listings brokers account associated with your escrow.
2. Submit outstanding financial documentation to your lender.
Your lender will invariably need updated financial documentation in order to get your loan package approved for your Boston Seaport condo. If you’re working within a competitive contingency time frame (who isn’t?), you’ll want to deliver those docs to the lender within a day or so of the request.
3. Conduct your inspections.
You’re going to have to quickly get inspections on the calendar if you didn’t pre-schedule them. This will require some flexibility and probably time away from work during the week. Once you have the inspections and review written reports, you’ll be asked to address the contingency—either removing it, or negotiating any items—as per your contractual deadline for your Boston Midtown condo you want to purchase.
4. Sign outstanding disclosures.
You may have signed a bulk of seller disclosures and reports up front, but there will be more. Be sure you set time aside to review what comes in.
5. Address your appraisal or loan contingencies.
Make sure you set time aside to review your appraisal (particularly to make sure that it has come in at value) and respond to any remaining conditions once the lender has reviewed all property and financial documentation. You’re aiming for a big thumbs up from the lender on all aspects of your loan so they can get loan documents to the title company for you to sign. You will have to ultimately sign and submit the loan/appraisal contingency removal form to the seller to officially clear your contractual obligation.
