7 Steps to a Real Estate Transaction in Massachusetts
Pinnacle Residential Properties…A Guide for Buyers
In 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 Sale Agreement (P&S). Prior to submitting an Offer to Purchase, obtaining a mortgage preapproval letter would be very beneficial to you – it will make your offer much more attractive to a seller. Most lenders will be happy to provide you with this document. You simply need to provide a loan officer with accurate information about your assets, income and debts.
The steps are:
- Submit Offer to Purchase, accompanied by a binder (usually $1000 or more)
- Arrange for your professional home inspections which are generally completed within 5 working days from the date a seller has accepted your offer.
- Select your Real Estate Attorney.
- Apply for your mortgage.
- Approximately 10 to 14 days after the initial offer is signed, the Purchase and Sales Agreement that has been prepared by the attorneys is executed. It is usually accompanied by a deposit of 10% of the purchase price.
- Mortgage commitment is received.
- Closing
The above steps most often occur within a 60 day time period.
Whether you’re ready to purchase your first home, need more space to accommodate your growing family, or are empty nesters ready to enjoy a new lifestyle, I’ll help you make informed decisions in evaluating your options of towns and houses and we’ll work together until we find your dream home.

Maureen McCaffrey
Office: 781-237-5000
Cell: 508-494-0811
email: mmccaffrey@PinnacleHouses.com
| Contributed by Maureen McCaffrey mmccaffrey@pinnaclehouses.com Cell Phone: (508) 494-0811 | Office Phone: 781-237-5000 http://www.maureenmccaffrey.com |
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