Follow your dream, home.™ A home buying guide
A home buying guide
Where is life taking you? From starter homes, to dream homes and even castles (yes, we can help with those, too) Engel & Völkers provides an exceptional, personalized buying experience. We believe luxury goes beyond any object, property or price point—it’s personal and it’s priceless. It’s about the richness of life that begins and ends in the most important space we know: home. Buying a home in the Boston area can be difficult. Inventory is often low and prices are often high. Boston is home to some of the most expensive residential real estate in the U.S.—the median home price was $655,000 in January—and the competition for it is fierce. You definitely need a seasoned professional to help you navigate the home buying process.
Step One
Getting approved Before starting to search for your dream home, it’s important to evaluate your financial situation, establish a budget, understand mortgage options and secure pre-approval from your lender. This will help you conduct your search with confidence and purchase your desired home successfully. Your credit report plays an important role in your mortgage approval process and in determining the interest rate and loan terms that a lender offers you. Before meeting with a potential lender, you may wish to confirm your credit rating so you have time to resolve any issues. If needed, we can connect you to an experienced mortgage broker who will offer competitive interest rates and options.
Step Two
Establishing your budget Get clear on your goals for your home, your needs in terms of amenities, location and other key factors. Its important that you understand the budget you have to work with. Start by considering what neighborhood best suits you and what type of home you want. Don’t forget to separate your needs from your wants.This crucial first step sets a course for you, our advisor, our brokerage and our brand to work together to buy home in a stress-free manner. When meeting with us it’s important to clarify your budget, personal property preferences, and any anticipated life stage and lifestyle requirements that may impact the purchase of your home.
Step Three
Working with an E&V Advisor Your Engel & Völkers advisor will tend to every need throughout the home buying process ensuring a worry-free experience for you. You can expect insight and information from a market expert, proac-tive communication, and ongoing consultation. Engel & Volkers professionals have committed themselves to a clearly defined goal: to put the client first, making all real estate transactions go smoothly. Using our broad range of expertise and the specialized training, we dedicate ourselves to this goal and perform with total passion. The best real estate agents help clients buy and sell homes; Engel & Volkers advisors do more. They will offer you guidance and insight in ways not every agent can. In fact, we designate our agents as “Advisors”, to better define the higher level of service they provide.
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Step Five
Submitting an offer Massachusetts uses a two-step offer process for submitting offers on properties. When we find a home you like, we take the first step: preparing the Offer to Purchase. This legally binding document outlines the terms including the property, price, timing, inclusions, removals, conditions, and duration of offer. It will be accompanied by an earnest money deposit. Often you may find yourself bidding against other buyers. This means that due diligence is required on your part and our part as your REALTOR® team to ensure the offer you submit is strategic, competitive, fare, and reflective of what are ultimately willing to pay for the property.
Step Six
Offer negotiations The offer will be met with an acceptance, rejection or counter offer (where the seller may make changes to your offer, such as adjustments to the price, closing date or conditions). You may accept the counter offer or you may make another counter offer back to the seller, and your Engel & Völkers Advisor will help you with any and all negotiations. If specified as contingencies in the Offer to Purchase, you may then conduct a Home Inspection, or review HOA Financials/Regulations, or finalize your financing. Once both parties come to an agreement, negotiations conclude and you move on to the next step in the buying process, the Purchase and Sale agreement. At this point, you will select an attorney to take you through this very detailed part of the process and pay an final deposit.
Step Seven
Closing the transaction Your Engel & Völkers advisor will work with you through every step of the process, answering every question and providing expert advice, experience, insight, and knowledge. A few days before the settlement you will have the opportunity to conduct a final walk-through confirming that the home is in the agreed physical condition. The closing attorneys will schedule the closing and finalize all the legal requirements at that time. Congratulations on your purchase! You are now a home owner.
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Client Testimonials
What buyers are saying ★★★★★
★★★★★
“Dan was amazing to work with and I highly recommend him. He made our move from Chicago to Boston a breeze. Because of his knowledge and excellent communication, we got the deal done completely virtual. Dan went above and beyond for us and we will DEFINITELY be working together in the future. He played a big part in this exciting new chapter for us. Cannot thank him enough!”
“If you are looking for a Realtor that checks all your boxes and more, than look no further! Dan DiStefano is not only charming but caters to all his client’s needs. Dan is always putting his clients first and shows remarkable attentiveness, creativity; all while demonstrating extensive market knowledge. Dan was able to fill multiple apartment homes for us here!”
Katie, South Boston
Jill, South End, Boston
★★★★★ “My husband and I worked with Dan as we navigated buying our first home together. Dan was extremely flexible and helped us in every way possible. He made it a very fun experience with his high energy and enthusiasm. Dan was reliable, very responsive and committed to helping us find our first home. As our agent he helped us negotiate a favorable purchase agreement.” Meg, East Boston
★★★★★ “Working with Dan has been a great experience! He always goes the extra mile to make his clients happy and meet their needs. I would highly recommend Dan for anyone looking to buy or rent in the Boston area.” Lindsey, South End, Boston
★★★★★ “Dan helped me navigate the market as a first time home buyer. He’s very attentive to your concerns and is very responsive. I would definitely recommend.”
★★★★★
James, South End, Boston
“From day 1 Dan was knowledgeable, communicative, and went above and beyond to ensure all my questions were answered. Dan recommended a great team of professionals and led a seamless process in remarkable time. A pleasure to work with!”
★★★★★
Molly, Watertown, Boston
“My experience with Dan was hands-down the best I’ve had with any broker in Boston. He’s extremely responsive, knows the market, listens carefully, and can negotiate on your behalf. Plus, he’s genuinely likeable. Dan will be the first person I call the next time I’m in the market for a place in Boston.” Andrew, Back Bay, Boston
★★★★★
★★★★★
“My experience with Dan was excellent. He came up with amazing apartments to tour, was super supportive, answered every text and e-mail super fast, and made the entire process a BREEZE. I was able to get an apartment because of him, and I will definitely be using him for my next rental- and then eventually when I want to purchase a place! I cannot emphasize enough how easy of a process he made the entire apartment search- he was professional, kind, easy to work with- and got me my DREAM apartment!! I would recommend him to any friend or family member- he is the BEST OF THE BEST!”
“I would absolutely recommend Dan to anyone looking for help finding a home. My husband and I originally contacted Dan for help purchasing a home and navigating this crazy market, however; after an urgent situation in our current apartment, he found us a new home to rent within a couple of hours. I believe I contacted him around 8:30AM, we had options within an hour and showings scheduled before noon. We were able to sign a lease that same day. Dan is professional, intelligent, moves quickly and actively listens to your wants/needs. He truly exceeds expectations. We look forward to working with him again when it is our time to buy a home. You will not be disappointed working with him!”
Mariah, South Boston
★★★★★ “I am so lucky I got Dan’s contact information from a friend. Dan responded to my first email within an hour and was already helping us find options by the next day. Throughout the whole process of finding our apartment, Dan was responsive to all texts, calls, emails, he knew everything there is to know about the market, and he wouldn’t settle until he found us the best place possible. I would 1000% recommend Dan to anybody looking to buy or rent an apartment. He’s very nice, smart, and responsive and he really cares about finding the best fit for his clients!!” Micaela, South Boston
★★★★★ “I chose to work with Dan as a first-time homebuyer, and I’m so glad that I did! He was incredibly knowledgeable and professional, consistently sending me homes he thought would be a good fit. When it came time to put in an offer, Dan was very responsive and helped with negotiations of a highly sought after unit. He had my full trust throughout the entire process. While home buying can be stressful, Dan eases all tension and makes it an exciting and fun experience! Highly recommend!” Hannah, South Boston
Leah, Waltham
★★★★★ “Dan was super helpful in helping me find a new apartment in the South End. He was super responsive and great with booking viewings that accommodate my schedule. He accompanied me to all the viewings and was great at talking me through the pros and cons of each viewing along with what was best for my budget which was instrumental in me choosing my current apartment. I ideally wanted to move into a complex with amenities such as a gym, concierge, and washer/dryer and we found just that. Dan also showed me options for brownstone listings in the area and was really great at talking to other agents for me. Overall a great experience!” Kitty, South Boston
An App that moves you
Mobile experience The EV Real Estate app is your real estate search companion, bringing you the most accurate and up-to-date real estate information right to your phone! With EV Real Estate, you have access to all homes for sale and MLS listings throughout your neighborhood and across North America. Use EV Real Estate anytime, anywhere to find homes for sale in your location using the GPS search, or find homes based on any address, city or zip code. And, if you have questions, press the “Contact” feature to call or email your Engel & Völkers advisor. If you haven’t already, download Engel & Völkers’ mobile real estate app now to search and connect with us anytime and anywhere from your smartphone or tablet. Download my mobile app:
Glossary
Key terms and phrases ADVISOR Engel & Völkers designates our agents as “Advisors” to better define the higher level of service they provide.
APPRAISAL Formal assessment of a property’s market value, typically done for the purpose of obtaining a mortgage.
BUYER’S AGENT Buyer’s agents are bound to help buyers and diligently represent the buyer’s interests.
CONTINGENCIES
SELLER DISCLOSURE
Special clauses such as a home inspection, condominium documents, or financing contingency.
A document completed by the seller making known the property’s history and defects.
ESCROW / EARNEST DEPOSIT
SELLER’S AGENT
Deposit of funds are held in an escrow account, and transferred upon completion of the deal.
An agent who lists a property and acts on behalf of the seller and the seller’s interests.
MLS
SETTLEMENT
Multiple Listing Services are private databases that help match buyers with properties listed for sale.
When buyers & sellers sign the closing documents of a transaction and payment of all closing costs.
PRE-APPROVAL
SYNDICATION
Loan officer looks at your income/ debt/ assets/ credit history to determine how much money you can borrow.
MLS property listings and information are shared and distributed through a network of data feeds.
REALTOR®
TITLE SEARCH
Agents who are members of the National Association of Realtors® and abide by its strict Code of Ethics.
A check of legal documents of the property to ensure there are no outstanding claims.
PRESENTED BY
DAN DISTEFANO Real Estate Advisor | Realtor®
Engel & Völkers Boston 46 Gloucester Street Boston, MA 02115 daniel.distefano@evrealestate.com danieldistefano.evrealestate.com 315-243-7133
Having pursued an entrepreneurial path since college, Dan has excelled in many different industries before landing in real estate. Dan graduated from the University of Vermont as a neuroscience major, but quickly pivoted careers as he found his passion for health and wellness. As a seasoned marketer and entrepreneur based in Boston, Dan has found success through always putting his clients needs first and out hustling his competition. A valued member of the Post Shirley Team, Dan has found himself servicing the luxury real estate market in Boston. Dan prides himself on the long lasting relationships he has built throughout his years in Boston, and loves that real estate introduces him to new people on a continual basis with the opportunity to advise on their greatest asset, a home. Dan’s unwavering energy, commitment, hustle, and expertise will guarantee exemplary services from first-time home buyers to seasoned investors. In his free time, you can find Dan volunteering in the local community with the non-profit Harlem Lacrosse, teaching a Barry’s workout, or walking his dog Shea.
©2020 Engel & Völkers. All rights reserved. Each brokerage independently owned and operated. Engel & Völkers and its independent License Partners are Equal Opportunity Employers and fully support the principles of the Fair Housing Act. Buyer should take any and all steps necessary to verify said information. Owned and operated by Engel & Völkers Boston. An Equal Opportunity Employer. Equal Housing Opportunity.