Home Inspections and Other Tests 

Beacon Hill home Inspections are generally completed within 17 days of the acceptance of an offer in a normal contract. The inspection can reveal some problems. If so, these are problems that must be fixed or the Beacon Hill home cannot be sold. The seller then has to arrange to pay for the repairs, or have the repairs paid out of the contract proceeds at close. Before you can truly set the closing date, the repairs have to be made and approved by the buyer.

 Final Contract 

As soon as the seller agrees to the final contract, you should start following through on your loan. Get the final contract to the lender to start the loan process in earnest. If you have been pre-approved, much of the work has already been done and your loan will process more quickly.

 Home Apraissal by Your Lender 

The lender arranges to have the home appraised, which can affect whether the loan is granted. The likelihood, however, of a Beacon Hill home selling for more than a lender is willing to lend is very slim in this market. The real estate industry not only keeps up with how quickly homes sell, but how much they sell for in an area. Most lenders will have a ceiling on the price per square foot per home they will lend. If a home is overpriced, it will quickly be obvious. You can then go back to the seller and renegotiate a lower price.

 Avoid Last Minute Problems 

At this point, as you are nearing closure, everyone involved in your Beacon Hill real estate transaction should check its progress. This is an important factor to remember because if there is a problem, it’ll be caught immediately. Remember some do’s and don’ts as well: do not make any major purchases until your home closes; do not change jobs unless it is absolutely necessary; do not let your emotions take over; and do not panic if your appraisal comes in lower than expected. Remember, if a problem arises, your agent has probably seen and dealt with it before, they are there every step of the way to coach and guide you towards a rewarding transaction.

 Closing and Taking Possession of Your Home 

You are on your way to closing, the event that transfers ownership of the property to you. Until closing, and even during closing, anything can happen. You might find out that your closing costs are higher than you thought because some additional service fees have been added by your lender. A glitch could come out in your credit report that delays the sale; a problem the owner was supposed to fix wasn’t repaired in time; the homeowner can decide that she or he doesn’t want to pay for the home warranty after all; the appraisal may come in the day before closing and be short of the asking price of the Beacon Hill home. If so, the buyer, seller, and their agents have to figure out how to make up for the shortfall. How will last-minute problems be handled? Again, this is where an experienced agent can really help!

It’s all over. All of the papers are signed. The Beacon Hill home is yours. Congratulations, here are your new keys!!

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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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