Starting At The Beginning

MetroBoston, Publication Date August 8, 2012
By Attorney George Warshaw

I received an email from a reader asking:

“If I want to buy a house what is the proper place to look for information and also a good price?”

Whether you’re a beginner or an experienced buyer, the place to start is with a mortgage lender, unless you’re lucky enough not to need one.

Almost every seller wants to know if you have been “pre-approved” for a loan; in other words, that a bank has checked out your income and credit and all that is needed to give you a loan is an appraisal of the property, verification of the information provided and a few routine details.

The pre-approval letter will list a loan amount that you qualify for based on your income and credit.

With that in hand, choose the area where you want to live and start shopping online for properties that that fit your price range – but avoid registering online with a broker if you can (you may get more solicitations than you can handle). You can usually get property details elsewhere if you search around.

Ultimately, you’ll want to find a good buyer’s broker who works in that location. Ask your lender, your lawyer or others for a recommendation.

More next week © 2012 George Warshaw.

George Warshaw is a real estate attorney and author. He represents buyers and sellers of homes and condos in Massachusetts, and prepares wills, trusts, and estate plans. George welcomes new clients and questions at metro@warshawlaw.com.