Buy With Confidence: Your guide to finding the perfect home

Buy with Confidence Your guide to finding the perfect home

Are you thinking of buying a home? If so, our Senné Advisors can create a customized experience to help you on your journey. Since 2009, Senné has emphasized the importance of smart business decision making.

While Senné has grown in terms of size and market share, the founding idea of the company still governs daily operations. Rather than fit each client into a single, cookie-cutter mold, we create custom service blends that fit each client’s individual needs. Our associates are local. We live in the same neighborhoods as our clients, and we stay plugged into market trends and neighborhood issues. No matter where you go, we will work to meet your needs on every level.

Our Vision Senné Residential Brokerage is independently owned and comprised of highly motivated, resourceful, and successful Realtors®.

Started in 2009 by William Senné, the company has grown to become one of the finest real estate advisory firms, with offices across greater Boston, New York, and Washington DC. Our agents work together to give their clients the best possible real estate buying and selling experience. At the center of our business are our people and our commitment to service, teamwork, honesty, and communication.

Our expanded team of experts extends beyond the traditional residential brokerage and includes property management, commercial real estate and developments, leasing, government affairs, structured debt and investments.

Who We Are As Associates of Senné, we are neighborhood experts. With the latest technology, tools, and support from our industry leading colleagues we are dedicated to our clients real estate goals.

We’re visionaries and we’re leaders. We’re Senné.

With offices at: 1 Lewis Wharf, Boston, MA 84 Atlantic Avenue, Boston, MA 1675 Massachusetts Avenue, Cambridge, MA 75 Park Avenue, Arlington, MA 21 Cochituate Road, Wayland, MA We have you covered.

The Buying Process

Choose your agent

Begin home search

Get pre-approved

Select an attorney & home inspector

Write an offer with your agent

Final walkthrough

Sign purchase and sale contract

Closing

Here to Help Buying a home can seem like a relatively straightforward process when the reality is, it isn’t quite so simple. There are several steps that should be taken to ensure success. That’s where we come in.

In-depth market knowledge Our thorough knowledge of the Greater Boston real estate market positions you for success off the bat. At Senné we preview hundreds of homes in to order to share our knowledge of local inventory and value to match your unique criteria. No matter your budget, we understand the nuances that will position you for a successful purchase.

Media resources We are equipped with cutting edge tools to match you to relevant homes on the market. Our partnerships with digital solutions like RealScout and KVCore and our connection to the Massachusetts Multiple Listing Service (MLS) allow for real time communication, giving you the edge with homes that are coming to the market.

Personalized attention We pride ourselves on providing a tailored homebuying experience to meet your personal goals. Down to the detail of forms and paperwork, we will be there to help you find the home of your dreams.

In-house & referral capabilities Whether you need a referral to an attorney, mortgage lender, title service provider or licensed home inspector, our team of professionals is here to help. With multiple lines of business, our in-house network of professionals is ready to help with all your real estate needs.

Factors to Consider There can be many points of consideration when you are first beginning your home buying journey. How many bedrooms do you require? Do you want an urban or suburban lifestyle? Are you in a place where this sort of investment makes financial sense? Regardless of the topic, we are here to provide any guidance you may need. Here are some topics to get you thinking:

Finances Paying method?

CASH

Are you pre-qualified?

FINANCE

YES

Have you been pre-approved?

NO YES

NO

How much do you have for a down payment?

What’s your price range?

What’s your current living situation?

LEASE

OWN

If leasing, when does your lease expire?

If you own, do you need to sell your home?

YES

NO

Location & Requirements Desired city/town?

Desired neighborhood?

What qualities are you looking for in your ideal neighborhood?

Get Pre-Approved Once you determine that you are ready to buy, the first step is knowing how much you can afford. We will help connect you to reputable mortgage lenders who can help you determine this.

For your consideration: lenders generally will want to see that your total debt load is no more than 43% of your gross monthly income. This is called your debt-to-income ratio (DTI). This ratio includes your mortgage and all other monthly debts, such as car payments and credit card payments.

There are several items that can affect your loan request before, during and after the loan is approved. Here are a few tips that can help you jump into the loan process with confidence.

Do:

Do not:

•

Make sure your accounts are up to date. Being on time with your payments is critical.

•

Make any large purchases or do any activities that will affect your credit.

•

Stay in touch with your agent or lender.

Communication is key, and they are excellent sources of knowledge.

•

Change jobs.

•

Consent to unnecessary credit checks.

Be timely. Having documents and money in order are necessary steps that will make the process easier.

•

Co-sign any loans.

•

Your Home Search The success of your home buying journey is largely dependent on the company you keep - be sure to work with a trusted real estate advisor who will help you make informed decisions and avoid pitfalls.

Senné Advisors are experts in the local real estate market. We have insight into what has worked for other buyers in the area and what will make a seller notice you. We understand how to cater to the seller, so your offer stands out.

During the search period, you are the center of our focus. We rely on some cool but easy to use technology to deliver properties to you as soon as they become available. Together, we will tour the property to determine if it meets your needs and requirements.

Reasons to buy now 1) Homeownership has many advantages.

The security, stability and successful feeling homeowners experience has far-reaching impacts, especially now. Over the past few years, the Coronavirus has made having a space to call home more important than ever. If this crisis has changed what you are looking for, there is a good chance that homeownership may be able to deliver what you want, both financially and emotionally.

2) More homes should be coming to market.

With more active buyers in the market than there are homes for sale, the homebuying process will take more time and effort than usual. The good news is more homes typically become available in the spring than during other seasons. Our Senné Advisors live and work in the communities where you are searching and have their finger on the pulse of the market.

3) Home prices and mortgages are rising.

Last year, the housing market saw a sharp increase in price appreciation due to the imbalance of supply vs. demand. While competitive buyers are still expected to keep home price climbing, many industry leaders feel the pace of appreciation won’t be as aggressive in 2022. With experts projecting prices and mortgages to increase throughout this year, this means it will cost you more if you wait.

It’s more important than ever to put your plans in place and start working with a Senné Advisor. If you’re thinking of buying a home over the next year or two, purchasing sooner rather than later may be your most affordable option.

4) Rents are rising Mortgages rates and home prices are in flux and rents are higher than ever! To escape rising rents, consider purchasing a home so you can lock in your monthly mortgage and avoid future increases. Even though the inventory for homes is low, home ownership is a stable long-term investment. The search is worthwhile, and the purchase will help you grow your net worth as your home value appreciates.

Making an Offer Today, the National Association of Realtors estimate that 46% of offers are above the listing price. That means once you have found your dream home, offering below or at the asking price might not be enough. Lean on your Advisor to help you understand the market value of the home you like and the recent sales trends in the area so you can present your best offer. When putting together an offer, rely on your Realtor® to help you consider how flexible the offer will be. Consider whether you will waive any contingencies such as home inspections or mortgage contingencies.

Will you be flexible on the closing date? Make certain to fully understand your options before making an offer.

P&S Preparation Once your offer is accepted, the next step is to hire a home inspector who can examine the home, its systems and structure and guide you through what will need to be addressed and updated in the near and long term.

Knowing what updates need to be made to your dream home allows you to plan for the future.

It’s a good idea to notify your real estate attorney before you receive an acceptable offer so they will expect to receive a purchase agreement from the seller’s attorney. As the buyer, your attorney will advise you on any local ordinances you should be aware of, will order the title report and anything else needed and will keep you informed about the closing and what you will need to settle.

Home Inspections As soon as an offer is accepted, you should order a home inspection. A home inspection is essential to ensure that a home is in good condition, and that you are not going to have some unpleasant surprises down the road that cost you a lot of money. It is important to keep in mind that not every home inspection is the same. To ensure that you get a home inspection that tells you everything you need to know about your new home, keep these tips in mind:

#1 Research the home inspector Home inspections are great, but they are only as good as the inspector doing the work. When choosing a home inspector, some questions you might want to ask include: -How many years have they been in the profession?

-How many inspections have they performed in the past 5 years?

-What type of certifications or training do they have?

-Do they have relevant experience from another field?

#2 Attend the inspection You may not have to attend the home inspection, but you should. Just reading the inspection report is not usually enough to give you the complete picture. If you do not actually see the inspection going on, you may not have as good an understanding of potential home problems.

#3 Read the inspection report You should spend at least 30 minutes going over the report, ideally with the inspector available for any questions or clarifications. It will help if the inspector uses very clear and concise language in the report. A good inspection report will state in simple language anything that is wrong with the home, and what is needed to fix it. Make sure the inspector provides pictures of any potential problem areas.

Preparing to Move It is important that you be well-prepared in when buying a home. The last thing you want to have happen is to move into a home without the necessities in life such as electricity, gas, water, or work/school related services such as internet & phone. Make sure you have everything to keep your life running smoothly. If you need any help, we are here to assist.

Keep in Mind Your agent should be the one to set up showings.

It is important to remember to contact your agent to set up a showing at a property. There are many disadvantageous outcomes that could materialize if you speak with a listing agent directly, and it could jeopardize your chances of securing the property.

When attending open houses on your own...

Always sign in with your name and your agent’s name as the source. Like the above, if you do not sign in correctly, there is a possibility that the agent and seller would reject your offer if you later came back with an agent that was not mentioned when you visited the property.

Be aware of what you say to other real estate agents.

Be cautious during open houses and when viewing homes. If you accidentally disclose something confidential about your personal or financial situation it could be used to your disadvantage. If you see a for sale sign on a property, call your agent instead of the number on the sign. The listing agent is working for the seller and will try to get important information out of you.

Remember who’s on your team.

Real estate transactions are a team effort. Your agent, attorney, lender, and inspector are all here to ensure that the transaction goes as smoothly as possible for you. It is important to keep each in the loop as much as needed. It is also crucially important that you build a team of experienced, trusted professionals. There is a lot of money on the line, and you’ve got to be able to trust your team whole heartedly.

Glossary of Real Estate Terms Affordability

The cost of housing services and shelter – both for renters and owner occupiers – relative to a given individual’s or household’s disposable income.

Appraisal

A professional analysis used to estimate the value of a property. This includes examples of sales of similar properties.

Closing Costs

The upfront fees charged in connection with a mortgage loan transaction. Money paid by a buyer (and/or seller or other third party, if applicable) to affect the closing of a mortgage loan, generally including, but not limited to a loan origination fee, title examination and insurance, survey, attorney’s fee, and prepaid items, such as escrow deposits for taxes and insurance.

Credit Score

A numerical value that ranks a borrower’s credit risk at any given point in time based on a statistical evaluation of information in the individual’s credit history that has been proven to be predictive of loan performance.

Down Payment

A portion of the price of a home, usually between 3-20%, not borrowed and paid up-front in cash.

Some loans are offered with zero down-payment.

Equity

The value in your home above the total amount of the liens against your home. If you owe $100,000 on your house but it is worth $130,000, you have $30,000 in equity.

Inspection Contingency

An inspection contingency mandates that the offer is contingent on the result of the home inspection.

An inspection contingency allows the homeowner a specific number of days to respond with any objections to what’s found in the inspection. This ensures the buyer can collect enough information to make an informed purchase decision.

Liens

A claim or charge on property for payment of a debt.

With a mortgage, the lender has the right to take the title to your property if you don’t make the mortgage payments.

Mortgage Rate

The interest rate you bay to borrow the money to buy your house.

Pre-approval Letter

A letter from a mortgage lender indicating that you qualify for a mortgage of a specific amount. It also shows a home seller that you’re a serious buyer.

Individually, we’re great.

Together, we’re even better.

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