Step 1. Considerations, Pre-Offer Issues
Deciding whether or not you want to buy a Boston Beacon Hill condo involves an evaluation of its structure and its features and more. Possible resale value? Existing and future developments in the area? The age of the building? condo dues? My Beacon Hill agents educate on all of these issues.
Step 2. Make an Offer
When you find the Beacon Hill condominium you want, your agent will write a purchase contract commonly known as an offer. Your offer will display what you are willing to pay for and what you are not, when you want to close, and when you want to take possession of the home. Your offer will be made after inspections. If the inspection reveals a problem, you and the seller can renegotiate the purchase price if you are still interested in buying the property.
Step 3. Putting Down Earnest Money
When you make your initial offer, you should also include an earnest money check. Earnest money is a ‘good faith’ deposit that shows a seller that you are submitting a serious offer. (Generally 1-3% of total loan amount) The check is then deposited into an escrow account by a closing attorney or real estate broker and is held in trust until either closing or the check is returned to the buyer. If you purchase the property, the full amount of the earnest money check is applied to your standard closing costs. If you decided not to buy the property in question, the check is returned to you if you fulfill the contract in full and both you and the seller agree that your negotiations are at an end.
Step 4. Counter Offers
The first offer you make most likely will not be accepted as is (especially with a low offer) and the seller will submit a counter offer. There is a timeframe in which each party must respond to the original offer and all suceeding counter offers. You will need to remain available to your agent. There can be several rounds of counter offers, but it usually does not a terribly long time.
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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.
Charles River Park
Surrounding Communities of Boston
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.
Ford Realty Inc
137 Charles Street
Boston, Ma 02114