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TYPICAL STEPS TO REAL ESTATE TRANSACTIONS IN MASSACHUSETTS


TYPICAL STEPS TO REAL ESTATE TRANSACTIONS IN MASSACHUSETTS

EXPIRED: THE HOUSE THAT DIDN'T SELL

SENIORS: DECIDING WHEN TO SELL

PREPARING YOUR HOME FOR SALE

THE "EXCLUSION" (WHAT GOES/WHAT STAYS)


TYPICAL STEPS TO REAL ESTATE TRANSACTIONS IN MASSACHUSETTS

Real Estate Transactions in MassachusettsIn 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:

  1. Submission of an Offer to Purchase, accompanied by a binder (usually $1000 or more).

  2. Professional home inspections are arranged. These inspections are generally conducted within 5 working days from the date a seller has accepted your offer.

  3. Real estate attorneys are engaged.

  4. Application for a mortgage is submitted. 

  5. 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.

  6. Mortgage commitment is received.

  7. Closing

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

For a complimentary real estate consultation, please email info@PinnacleHouses.com or call us at 781-237-5000.


 

 

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


 

 

 

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