Home Buyer's Guide I Nate Rock

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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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.

CRAFTING BESPOKE HOMEBUYING EXPERIENCES IN BOSTON.

WE ARE ENGEL & VÖLKERS. Being born and raised in Fairhaven, MA - Nate Rock brings a unique perspective to city living and a strong passion for Boston and its surrounding towns. Just in 2021, Nate did over $40 million in sales with a total of about $100 million in the last three. With his vast knowledge of the market and his background in Marketing, Nate quickly rose to the top of the ranks in the Boston Market.

Driven by his desire to make a positive impact on others, he prides himself with strong communication, attention to detail, and accessibility for his clients. Combining Nate’s experience with his top-tiered team of agents, Lenders, Lawyers, and Inspectors there is no transaction he cannot handle!

Prior to Real Estate, Nate earned a Bachelor’s degree in Business Management & Marketing while being the Captain and President of the Men's lacrosse team. Throughout his early life, he was actively involved in the boating industry on the South Coast of Massachusetts where his love for meeting people grew.

When not selling real estate, Nate enjoys adventures around new england with friends, family, and his goldendoodle, Hinckley.

Nate Rock - Engel & Völkers Boston Real Estate Advisor 46 Gloucester Street Boston, MA 02115 Mobile: 617 459 6656 nate.rock@evrealestate.com naterock.evrealestate.com ©2019 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.