Downtown Boston Real estate transactions can often be confusing, especially for first time home buyers and those unfamiliar with the Beacon Hill real estate. The good news? It doesn’t have to be that way! These 10 downtown Boston real estate tips will help you, and all those involved in the transaction, to avoid any frustrations and headaches that can emerge throughout the process. When searching for your home, use this list as a guide to set you in the right direction. Each of these 10 real estate tips are important, be sure to read each one as they will help to keep you from experiencing any added stress in the search for your perfect home.

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 gotten pre-qualified. It is ideal that you are “Pre-Approved” before touring any properties. This ensures that you are searching for Boston condos for sale 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 Boston condos for sale 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 home 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? Finally, share the completed list with your agent! Often it is not possible to accommodate everything on a wish list, but it helps to clarify for all those involved what you are really searching for. And, if you do find a house but it is missing a few things, remember, you can always add or remove features later! The key to remember is location, location, location.

 4. LISTEN TO YOUR PROFESSIONAL:

When it comes to large purchases like a Beacon Hill condo or Boston Seaport condo for sale, 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 LISTING AGENT:

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.

6. THE PROPERTY CONDITION IS “AS IS”:

As a downtown Boston real estate buyer you will often need to lower your expectations with regards to property conditions. Unless you are buying a brand new home, proper maintenance will always be needed. Sellers are not required to update, repair, or replace items that are found inadequate or not working. You will have an opportunity to present the seller with a “Request for Repairs” list prior to closing. However, the sellers are not obligated to complete any of them or provide you a credit. Many escrows fall apart due to this situation, do not let the little things get in the way of what could be the perfect home for you and your family.

 7. DON’T MAKE AN OFFER JUST TO MAKE AN OFFER:

Do not be afraid to make an offer on your favorite properties but you want to be sure of your decision to put in an offer. The purchase agreement is a contract along with receipt for deposit. These items should be taken seriously and written correctly. When you do find a home, or homes, that you like, consult with your agent and put in an offer. Many times the first home you see is perfect for you, don’t let the good ones get away because you have not looked at every home on the market!

 8. EXPECT DELAYS:

There are a lot of moving pieces in a downtown Boston real estate transaction. Few Boston condos for sale close on time or ahead of schedule. Delays often happen because there is a lack of communication between all parties. Most of the time these delays could have been avoided with proper planning. To help stay on track, follow the contract dates and remove or respond to each item you agreed to in a timely matter. Be sure to provide your lender with everything they ask for and make a list of questions you have or anticipate having for when they review your documents.

 9. OFFER YOUR WALK AWAY PRICE:

Your lender will require an appraisal of the property to confirm the value and make certain that you avoid over paying for a property. Knowing this allows you to present the seller your best offer and if it is not accepted, at least you know you tried and can move on with a clear conscious. If your offer is accepted and you feel that you may have over paid, the appraiser will confirm the final value before closing. Just remember, you make your money in real estate when you sell, not when you buy!

 10. COMMIT TO WORKING WITH ONE REALTOR:

If there is one surefire way to complicate and confuse things, it is working with multiple parties at the same time. Avoid duplicate efforts and commit to working with one real estate professional or team.

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Author Profile

John Ford
John Ford
EXPERIENCE

Over the course of 20 years in the Boston downtown real estate market, John represented and sold numerous, condominiums, investment and development properties in Greater Boston and in the surrounding suburbs



In addition to representing Boston condo buyers and sellers, John is currently one of the most recognized Boston condo blog writers regarding Boston condominiums and residential real estate markets. John's insights and observations about the Boston condo market have been seen in a wide variety of the most established local & national media outlets including; Banker and Tradesman, Boston Magazine The Boston Globe, The Boston Herald and NewsWeek and Fortune magazine, among others.



HISTORY

For over 24 years, John Ford, of Ford Realty Inc., has been actively involved in the real estate industry. He started his career in commercial real estate with a national firm Spaulding & Slye and quickly realized that he had a passion for residential properties. In 1999, John entered the residential real estate market, and in 2000 John Started his own firm Ford Realty Inc. As a broker, his clients have come to love his fun, vivacious, and friendly attitude. He prides himself on bringing honesty and integrity to the entire home buying and selling process. In addition to helping buyers and sellers, he also works with rental clients. Whether you’re looking to purchase a new Boston condo or rent an apartment, you’ll quickly learn why John has a 97% closing rate.

AREAS COVERED

Back Bay

Beacon Hill

Charles River Park

Downtown/Midtown

North End

South End

Seaport District

South Boston

Waterfront

Brookline

Surrounding Communities of Boston
Contact
John Ford and his staff can be reached at 617-595-3712 or 617-720-5454. Please feel free to stop by John's Boston Beacon Hill office located at 137 Charles Street.




John Ford
Ford Realty Inc
137 Charles Street
Boston, Ma 02114

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