First Home Purchase? Why You Need An Attorney
Buying a home can be complicated. You finally pick a real estate agent you like, s/he takes you around, shows you the ropes and the astronomical prices people seem to be paying, and despite all of this, you find what you think is a good deal, write a check for the deposit and sign on the dotted line…
WAIT! Just like with any other major life decision, before you act - YOU NEED TO DO YOUR HOMEWORK.
As a resident of the Commonwealth, you have many community based opportunities to educate yourself on the subject. For classes and mortgage information offered to first-time home buyers, visit: http://www.mass.gov/hed/housing/affordable-own/. By clicking the preceding link to get you to the Housing and Economic Mass.gov webpage, you can locate scheduling information for these events and sign up to be prepared to buy your first home.
Additionally, schedule a meeting with your bank or a local mortgage company that you trust to find out where you fall on the credit spectrum. It may be easier to save some money to put down for the deposit and work on your credit, and by planning ahead, you are doing yourself a favor by logically and strategically making the best moves to achieve your goals.
Buying a home for the first time is tough, but knowledge is power! And once you’ve done the prep work, found your real estate agent and picked your spot, consider the hard stuff almost over.
As your lawyer, that’s where we come in: we do the homework after you’ve made the choice. We work with your lender, the seller’s agent and any other parties to the contract to smoothly process your transaction. After you have signed an “offer to purchase,” we draft and negotiate the purchase and sale agreement, draft your Deed, prepare your HUD settlement statement for closing, and attend the closing on your behalf if you’d like.
If you start by following the simple steps provided above, you will realize that it is empowering to have information at your fingertips - the not knowing is what tends to make the process tedious. At the end of the day, with our help, in the very near future you will be able to kick back on your couch and enjoy the long-term benefits of being a homeowner!