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Warren Buffet and Betsy Prouty of Pinnacle Properties in Wellesley, MA think alike. - 01.30.12

Debbie Bosanek, Warren Buffet’s secretary of 37 years, recently purchased a second home in Surprise, Arizona. In an article in the Omaha World Herald, Mrs. Bosanek discussed her reasons for purchasing a second home and the personal advice she received from Mr. Buffet. “I just thought it was time to buy a home. Warren tells me that it [...]

Screened-in Porch: Yea or Nay? - 01.30.12

I ask myself this question all the time…. Should I convert my screened-in porch which I can basically only use four months of the year into a room – home office, eat-in area, den – that I can use every minute of every day for 12 months of the year? Hmmm – when I pose [...]

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STEPS TO REAL ESTATE TRANSACTIONS IN MASSACHUSETTS

STEPS TO REAL ESTATE TRANSACTIONS IN MASSACHUSETTS
LOOKING BEYOND COSMETIC FLAWS
THE RELOCATING SPOUSE
SHOULD YOU MAKE A BACK-UP OFFER

TYPICAL STEPS TO REAL ESTATE TRANSACTIONS IN MASSACHUSETTS

In Massachusetts, a real estate contract must be in writing in order to be valid.

In many states there is only one contract signed prior to closing. However, in Massachusetts there are two: the Offer to Purchase followed by the Purchase and Sales Agreement.

The steps and typical timetable are as follows:

The Offer to Purchase is submitted, accompanied by a binder (usually $1000 or more).
Professional home inspections are arranged. These inspections are generally conducted within 5 working days from the date a seller has accepted your offer.
Real estate attorneys are engaged.
Application for your mortgage is submitted.
Approximately 10 to 14 days after the initial agreement is signed, the Purchase and Sales Agreement that has been prepared by the attorneys is executed. It is usually accompanied by a deposit of 5% - 10% of the purchase price.
Mortgage commitment is received.
Closing

The above steps most often occur within a 60 day time period.

Pinnacle Residential Properties
Buying and Selling Real Estate in the Western Suburbs of Boston, Massachusetts.
Featured Towns: Wellesley - Weston - Needham - Natick - Dover

For more information about buying a home, please email info@PinnacleHouses.com or call us at 781-237-5000.

Client Testimonials

"With a deluge of real estate agencies after us we chose wisely. There were plenty of 'sticky' and important issues requiring prompt, wise decisions and every single issue was handled calmly, competently, tactfully and completely. Our Pinnacle agent was always available to answer questions and to check the house - a relief to us living 50 minutes from Wellesley. A 'gem' as a person and professional - It was a comfort, pleasure and fun."

P. Parsons, Duxbury, MA