The Journey to Buying a Home

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The Journey To Buying A Home

Life is Full of Milestones

From the everyday moments that define your life to the significant events that shape your future, life is full of milestones. Buying a home is one of those monumental experiences, marking a new chapter in your life. Whether it’s your first home or your forever home, it’s more than just a place to live - it’s where memories are made, laughter is shared, and you feel most at ease.

We understand that the home-buying process can feel overwhelming and emotional. But rest assured, you don’t have to navigate it alone. As your dedicated real estate agent, we are here to guide you every step of the way. From setting a budget and finding the perfect location to negotiating the best terms, we are your trusted advisor and partner, committed to making your home-buying journey as smooth and rewarding as possible.

Together, we will turn your dreams into reality.

Locally Owned Globally Known

Commonwealth Real Estate was founded in 2006 by a group of real estate industry leaders dedicated to providing operational excellence, unparalleled market expertise, and delivering the best customer service experience to home buyers and sellers in Massachusetts and Rhode Island.

In 2018, we joined Berkshire Hathaway HomeServices, an industry leader with more than 50,000 real estate professionals completing more than 258,000 real estate transactions across 13 countries, including the U.S., Canada, Mexico, Europe, the Middle East, The Bahamas, and India. Through our affiliation with this premier brand, we have a distinct advantage over competitors because of the guiding leadership and the strength of the Berkshire Hathaway name. Our network is among the few organizations entrusted to use the Berkshire Hathaway name - a name representing trust, integrity, stability, and longevity. In turn, our agents reflect those same values.

In 2021, we partnered with Robert Paul Properties, the most recognized and respected name in the luxury marketplace across Cape Cod, Greater Boston, and the South Coast of Massachusetts. Together, we offer unmatched market expertise and serve as trusted advisors, providing invaluable knowledge and guidance throughout the real estate journey.

By The Numbers

Our dedication to helping clients achieve their buying goals efficiently and with expertise is truly reflected in our results. These impressive numbers and rankings highlight our strong influence and prominence in the local real estate market. They also signify our deep understanding of market trends and our ability to connect buyers with their ideal properties while maximizing value.

# 1

LOCAL

Brokerage in New England among Massachusetts-based Berkshire Hathaway HomeServices Network Members

# 5 Massachusetts-based Brokerage, Based on MLS Sales

# 17 Brokerage Among Berkshire Hathaway HomeServices Global Network

7

Independently Owned Brokerage Among Berkshire Hathaway HomeServices Global Network

A Partnership Built on Trust and Transparency

Berkshire Hathaway HomeServices Commonwealth Real Estate strives to always be the best in marketing, purchasing, and selling properties. We believe every client deserves the same level of attention, advocacy, and support. Real estate is more than just the joy of “welcome home.” It’s about building a relationship that lasts forever.

“People need a knowledgeable professional to help them make a sound housing decision that they won’t come to regret.” - 1000Watt

Research

The Strength of Our Brand

Berkshire Hathaway HomeServices is among one of the few organizations entrusted to use the Berkshire Hathaway name — a name representing strength, integrity, stability, and longevity. In turn, Berkshire Hathaway HomeServices network members, and every agent that operates under that member’s name, reflects those same values. We’re proud to be ambassadors for such a strong, trusted brand and it’s a brand you’ll want empowering you, too. There is more to our name than noted prestige. Network members are also backed by industry leadership with years of experience and an expansive reach across the globe.

Your Forever Agent®

We are dedicated to more than just the transaction. You can count on us to provide ongoing support, guidance, and expertise long after the sale is complete. We believe in fostering long-lasting relationships built on trust and reliability, ensuring we will meet your evolving real estate and lifestyle needs now and in the future.

Guiding the Home Purchase Process

Welcome to the world of home buying, where every decision counts. As your trusted Buyer’s Agent, we’re here to provide you with the expert advice you need to make informed choices throughout this process. You will have our support every step of the way, ensuring a smooth and successful experience from start to finish.

First and foremost, consider your budget. It’s crucial to ensure your mortgage aligns with your financial goals and responsibilities. Analyze your income and expenses to determine a comfortable range, taking into account factors like future earning potential and financial stability.

Securing a mortgage pre-approval is the next logical step. This not only gives you a clear understanding of your purchasing power but also signals to sellers that you’re a serious buyer, potentially strengthening your negotiating position. Prosperity Home Mortgage, LLC is our trusted advisor. When you choose Prosperity as your lender, you will benefit from the expertise of local mortgage consultants and exceptional customer service tailored to your unique needs from start to finish.

Now, let’s talk about the down payment. While the traditional 20% down is often recommended, it’s not the only option. We’ll explore various down payment percentages and their implications on your monthly payments and overall financial picture, tailoring our approach to suit your specific needs and preferences.

Next comes the actual home buying process. From refining your search criteria to navigating the offer and closing, we’ll be your dedicated guide, ensuring you understand each step and feel confident in your decisions.

Guiding the Home Purchase Process

THE OFFER

When signing the Offer to Purchase real estate, you’ll be required to submit a deposit to demonstrate your earnest intent to purchase the property. A typical earnest money deposit is $1,000, though it may be higher for upscale properties or in competitive scenarios. The offer will contain the following:

• Your offering price

• Additional deposit to be paid when signing a Purchase and Sale Agreement

• Date for signing the Purchase and Sale Agreement

• Closing date

• Any inspection, mortgage, or other applicable contingencies

THE INSPECTIONS

Inspections should be done within seven (7) days of the accepted offer. Remember the date included in the offer is the deadline by which you must put in writing any objection, requests for adjustment, or rejection of the property. If the date passes without written communication from you, all inspection contingencies are assumed to be satisfied. The Seller may retain your earnest money deposit if you do not meet these deadlines or fail to close.

PURCHASE & SALES AGREEMENTS

The Purchase and Sale Agreement formalizes in more detail the original Offer to Purchase. It expands upon what has already been agreed, without changing the original terms unless both parties agree. The listing office usually drafts it, and attorneys should review it for the Buyer and Seller. The date for signing a Purchase and Sale Agreement is typically 10-14 days after the acceptance of the offer.

When signing the Purchase and Sale Agreement, the last outstanding contingency is usually the mortgage contingency. This is the point when the remaining balance of your earnest money deposit (5% - 10%) becomes due.

This timeline generally represents approximately 45-60 days, which is fairly typical but may differ depending on various needs and negotiations between you, the buyer, and the seller.

THE CLOSING

The closing is generally held at the bank’s attorney’s office or the Registry of Deeds, but it can be arranged at any mutually agreed-upon location. At the closing, you’ll be required to provide funds as directed by the lender’s attorney. Bring your personal checkbook for potential adjustment amounts. A valid form of identification is necessary. Numerous documents will be presented for your signature, and your attorney will review, explain, and approve them. After approximately one to two hours, and once the deed is recorded, you will be declared the proud owner(s) of your new home! Unless negotiated before closing, you are unable to move in until the deed is officially recorded.

THE 17 STEPS TO A COMPLETE TRANSACTION

Buyer Services

By leveraging our expertise and guidance, you can approach the home buying journey with clarity and assurance, knowing that you have a knowledgeable ally by your side every step of the way covering everything from property searches to negotiations, inspections, and beyond.

COLLABORATIVE PROPERTY SEARCH

We leverage multiple sources, including the MLS and Real Scout’s dynamic market intelligence, to ensure a tailored and informed journey in finding your ideal home.

EFFICIENT PROPERTY VIEWINGS

Accompanying you on property showings or previewing properties on your behalf to guarantee they meet your criteria.

PROPERTY RESEARCH

Research selected properties to uncover potential problems or concerns you should be aware of.

INSIGHT ON LIST PRICE

Provide a comprehensive, comparable market analysis, enabling you to make a well-informed purchasing decision.

STRATEGIC OFFER STRUCTURING

We assist you in crafting a strategically sound Offer to Purchase, ensuring terms and conditions align with the property’s value, market conditions, and your best interests.

OFFER PRESENTATION

We present your offer to the seller’s agent or the seller directly, ensuring your interests are effectively represented.

SKILLED NEGOTIATIONS

We work diligently on your behalf to secure the best possible terms for your purchase, always keeping your interests at the forefront.

CONTRACT GUIDANCE

Explanation of all real estate contracts and agreements related to the purchase, ensuring you are fully informed and comfortable with the transaction.

STREAMLINED INSPECTIONS

Coordinate property inspections to guarantee a thorough assessment, providing you with accurate insights into the property’s condition.

MORTGAGE FINANCING

With Prosperity Home Mortgage as our trusted advisor, you’ll enjoy a convenient and streamlined experience for securing the right financing.

POST-CLOSING SUPPORT

Connect you with trusted vendors to cater to your post-closing needs, ensuring a seamless transition into your new property.

THE MASSACHUSETTS MANDATORY REAL ESTATE LICENSEE: CONSUMER RELATIONSHIP DISCLOSURE

During our first in-person meeting, you’ll be presented with this disclosure form. It is meant to clarify the role we’ll be playing in your transaction—whether as a Seller’s Agent, a Buyer’s Agent, or a facilitator. It’s important to know that this document is purely informational and not a binding contract. It simply explains the nature of our relationship so that you understand how we’ll be working with you throughout the home-buying process.

BUYER REPRESENTATION AGREEMENT

Our buyer representation agreement solidifies our commitment to exclusively representing your interests throughout the homebuying process giving you peace of mind knowing that your needs come first.

In most real estate transactions, there are two agents involved: one representing the seller and one representing the buyer. Each agent aims to secure the best terms for their client. A represented buyer is well-informed and has an agent dedicated to ensuring a successful closing.

HOW A BUYER’S AGENT GETS PAID

Sellers are not required to offer a commission to the Buyer’s Agent. This means buyers must be prepared to pay their agent out of pocket if necessary. As your Buyer’s Agent, our job is to secure the best terms for your purchase, so we will strive to negotiate a seller-paid commission structure. Under the new regulations, sellers are often advised to consider a willingness to include a buyer’s fee as part of the negotiation with the terms of the offer. Participating in the Buyer’s Agent’s commission can help buyers afford more and ensure a smoother transaction.

Community Expertise

Finding the ideal home extends beyond the property—it’s about matching your lifestyle perfectly. As a trusted Buyer’s Agent, we can provide expert insight and detailed reports on schools, amenities, local trends, and future developments within the community. Armed with this knowledge, you can make informed decisions that perfectly align with your needs and preferences, ensuring you discover the right home in the perfect neighborhood for you.

• School data

• Buyer lifestyle compatibility with the community

• HOA specifics

• Market comparisons, including current listings, sales, and pending transactions

• Major employer data

• Nearby amenities (restaurants, lakes, hospitals)

• Emergency services

• Utility services

• Future development plans

• Medical facilities

• Environmental concerns

Property Insights and Expertise

A Buyer’s Agent turns complexity into clarity. We can deliver detailed reports on every aspect of the property, equipping you with all the information necessary to make astute and informed decisions.

• Knowledge of the builder

• Development-specific info

• Trends in property values

• Property tax information

• Buyer lifestyle inventory match

• Deed restrictions

• Zoning regulations

• Land-use restrictions

• Investment potential

• Flood zone review

• Mineral and water rights

• Rights on ingress and egress

• Historic preservation restrictions

• Overlay district restrictions

• Seller’s disclosure review

• Neighbor relations recon

• Previous inspection review

• Knowledge of specialized conditions

• Knowledge of wood-burning device regulations

• Navigation and interpretation of MLS Database

• Listing alerts

• Hot sheets

• Research property ownership and deed type

• Review any non-realty items not transferring with the sale

Discovering Your Ideal Home

In today’s complex real estate market, having a knowledgeable and trusted professional by your side is essential. We’re not just finding you a home but discovering your ideal home. We guide you through the entire process, focusing on thorough feedback analysis and investigative efforts to refine the search and close in on the perfect property. Our expertise ensures you make sound housing decisions you’ll be happy with for years to come.

• Scheduling tour with listing agent

• Open house data and visits

• Seller’s disclosure on-site review

• Recording feedback

• Cursory big 3 review (Roof, HVAC, Foundation)

Advocacy in Negotiations

In a real estate transaction, you get what you negotiate. As your Buyer’s Agent, we represent and protect your interests to ensure favorable outcomes, mitigate risks, and create a smoother purchasing process. Our expertise goes beyond examining past sale prices and conducting home tours. We help you deeply evaluate the property by interpreting disclosures, analyzing inspection reports, and identifying which issues are worth worrying about. Trust us to read between the lines and provide the insights needed for confident, informed decisions.

NEGOTIATION STRATEGIES

• Competitive Market Analysis

• Understand client’s priorities

• Leverage relationships with inspectors for potential condition negotiations

• Determine strategy based on market conditions

• Leverage relationships with contractors for potential repair negotiations

• Identify and explain contingencies in the offer

• Prepare estimated buyer cash necessary to close

• Offer management/submission

• Verify the list of inclusions and conveyances with the sale

• Negotiate home warranty

• Prepare the offer

• Order inspection at the date of the contract

• Estimate repairs with contractor or concession

• Negotiate buyer-requested repairs post-inspection

• Negotiate any shortfalls in appraisal

Successful Transfer of Ownership

Offering meticulous attention to detail and comprehensive knowledge of all factors to streamline the journey to homeownership.

• Accepted offer

• Financing contingency dates

• Lender relationships

• Manage timeline with any rate locks

• Knowledge of financing programs

• Taxes

• Title

• Pest control

• Appraisal

• Attorneys

• Order home warranty

• Review the title report

• Order survey and review results; if applicable

• Seller maintenance request

• Contractor relationships & referrals

• Coordinate final walk through

• Review settlement statement prior to close

• Coordinate and communicate moving dates

• Verify repairs requested are complete prior to close

• Successful transfer of ownership

Ongoing Client Support and Communication

At Commonwealth Real Estate, our commitment to you extends far beyond the closing table. We pride ourselves on fostering lasting relationships with our clients, ensuring you have a trusted advisor for all your real estate needs, now and in the future. Here’s how we stay by your side, as Your Forever Agent®, even after the transaction closes:

• ONGOING MARKET INSIGHTS

• HOME MAINTENANCE SUPPORT

• CUSTOMIZED REAL ESTATE ADVICE

• COMMUNITY ENGAGEMENT

• ANNUAL HOME CHECK-UPS

• CONTINUOUS LEARNING

Our mission is to build lasting relationships. We strive to be your trusted real estate advisor, your community partner, and Your Forever Agent®. Your journey with us starts with a single step, but lasts a lifetime. Welcome to a relationship built on trust, commitment, and unparalleled service.

Giving Back

Part of our company philosophy is an enthusiasm for the cities, towns, and villages in which we live and work. Our passion extends beyond the properties we sell to the people and communities we represent every day. From agents following their own passions, to our partnership with The Sunshine Kids Foundation, a remarkable non-profit dedicated to uplifting the lives of children with cancer, we understand the importance of giving back.

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