How to take the stress out of a Boston condo closing

Where there is money involved, there is also stress.

Closing on a Boston Seaport condo or any Boston condo for sale can be one of the biggest investments in your life. Keeping your cool when closing on a downtown Boston condo can be the difference between a smooth transition into your new home and a hair-pulling nightmare.

Here are a few Boston condo closing tips on how to stay prepared and take the stress out of this landmark life-event:

Budget Accordingly

When you are down to the wire, you do not want the closing to be riddled with extra expenses with unfortunate delays.

Plan a budget that accounts for six months of bills and expenses paid for. 

For first-time homebuyers, you’ll be bombarded with the prospects of a 3.5% down FHA loan, but in order for that to happen, you may end up paying an additional 5% of the purchase price just to meet that figure.

Don’t make the mistake of only budgeting for the minimum monthly requirements after bills, mortgage, and so on. Budget for comfort, not constraint.

Is your new Boston condo ready for you?

Follow this checklist on things that need to be transferred under your name:

  • Utilities
  • Mortgage info
  • Homeowner’s insurance
  • Cable, phone and internet service
  • Mail delivery
  • Property taxes
  • Maintenance
  • Bank drafts

Make sure new service providers have all your corrected bank information, as well as your new address. The same information should be updated for all your credit cards and subscriptions.

Closing Costs

Remember that when you close on a house, to expect the unexpected.

These are the most common items that comprise closing costs for a Boston condo for sale:

  • Appraisal
  • Application Fee
  • Processing Fee
  • Hazard Insurance
  • Lender’s Title Insurance
  • Owner’s Title Insurance
  • Survey
  • Termite Letter
  • Transfer Tax
  • Intangible Tax
  • Attorney’s Fee
  • Incidental Fees

Sometimes you can negotiate for the seller to cover the closing costs. It never hurts to ask when you make your initial offer. Here is a sample Home Buyer’s Closing Cost Calculator that shows how much closing cost figures could add up

Expect Repairs

After your inspection, you may find a few things worth fixing. Many times you can request that the seller make repairs as part of the closing terms. Follow up with your requests before the closing date to ensure they have held up their end of the bargain. Also, remember that there may be other things that you may not have taken into account when moving into your new Boston Seaport condo in your initial assessment, so have a little extra cash stashed away to  take care of things.

Remember your rights: If there are any major discrepancies in the home upon your arrival, such as foundation issues, black mold, or any other hazardous issues that were not mentioned, then you may be able to retract your offer and pull out at the last minute as a safeguard.

Author Profile

John Ford
John Ford

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.


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.


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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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