Tammy Morrison Real Estate Inc | Fitchburg MA Real Estate Real Estate



61 Central St, Fitchburg, MA 01420

Multi-Family

$164,900
Price

2
Units
1,692
Approx. GLA
BEAUTIFULLY UPDATED WITH OLD WORLD CHARM MANSARD 2 FAMILY! Live in one unit with hardwood floors, fire place, granite counter, new appliances and so much more. Earn income from 2nd unit that has long term tenant. Plenty of off street parking and 2 car garage. Best deal in town!
Open House
No scheduled Open Houses

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The process of buying a house can be long and difficult. Whether you’re coming from an apartment or another home, you’ll want to time your purchase and move-in so you’re not paying for two homes at once.

What’s more, there are several steps required in the homebuying process, all of which you’ll have to give yourself enough time to complete.

In this article, we’re going to talk about the timeline leading up to buying a home. We’ll discuss how to figure out the amount of time you’ll need, and give you some advice on how to be ready sooner.

Prerequisites to buying a home

Before you consider purchasing a home, you’ll need to make sure your personal and financial life are ready for this commitment. Depending on what type of loan you are hoping to get, this could include saving as much as 20% of the cost of the home for a down payment.

Buying a home also usually requires good credit. If you have some issues with your credit history, you’ll want to take time to improve your score so that you can get a better interest rate on your mortgage.

Once you’ve settled on moving and have a general location, it’s a good idea to get pre approved for a loan.

Preapproval

Getting pre-approved for a loan is beneficial for a few reasons. First, it will let sellers know you’re a serious contender for buying their home.

Second, it gives you one fewer thing to worry about when it comes time to make an offer on a home that you’re interested in.

And, finally, pre-approval gives you a ballpark figure of the type of homes you can look at, saving you time when you’re shopping around for a home by avoiding properties that are over-budget.

The pre-approval process ranges from lender to lender. It can take as little as three days if you provide all the necessary information immediately. However, in some instances it can take weeks, especially if there are problems with the documents you provided to the lender.

Time before closing

If you’ve spent a few weeks viewing homes and considering your mortgage options, you’re likely getting ready to make an offer on a home. On average, this can take anywhere from 30-60 days.

The “contract to close” period can vary based on the type of loan you’re receiving and the underwriting process involved in that loan. USDA-guaranteed loans, for example, require added underwriting and processing time.

How to close sooner

So your lease ends in a few months and you want to make sure you’ll be in your new home before you have to move out. There are a few ways you can save time when buying a home.

First, make sure you provide your lender with everything they need to pre-approve you for a loan. Getting pre-approved quickly will save you a lot of time that is otherwise wasted while sitting around waiting for pre-approval.

Next, work with a real estate agent to find homes within your budget that are ready for move-in. Finally, be reasonable with your offer. Sellers, too, are typically on a timeline and will want to work with someone who is going to do their part to make the process as efficient as possible. 



26 Longwood Ave, Leominster, MA 01453

Rental

$1,200
Price

6
Rooms
3
Beds
1
Baths
FIRST SHOWING WILL BE AT OPEN HOUSE - SUNDAY 11/19 FROM 1:00 TO 3:00. Three bedroom 2nd FLOOR UNIT! Open Living room/Dinning room, extra large eat in kitchen and plenty of storage in the walk-up attic. 2 sun porches. Nice side street, close to highways, shopping and schools.
Open House
Thursday
December 07 at 4:30 PM to 6:00 PM
Open house tonight from 4:30 to 6:00.
Cannot make the Open Houses?
Location: 26 Longwood Ave, Leominster, MA 01453    Get Directions

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In certain states, attorneys are almost required in order for you to purchase a home. In many states, real estate matters can be handled completely by the real estate agent themselves along with a title company. An attorney’s presence is not required in these states. This is when hiring a real estate agent is most important. 


Buying A Home With An Agent


You can either get your own buyer’s agent to represent you, or you can use the seller’s agent to help you seal the deal. It’s a good idea to have your own agent to represent you, but you have the right to use either option. A buyer’s agent has a duty to keep the buyer’s best interests in mind and to keep all of the buyer’s information private and confidential.


It’s important to find your own buyer’s agent before you even start the house hunting process. Your agent can be a valuable resource in helping you to choose the right home for you and your family. If you decide to use the seller’s agent, their loyalty will be divided between the sellers and you. This is a fine choice as it will be balanced. However, you may want an agent who is completely dedicated to you so that your needs and interests are adequately represented.


If you have a question as to whether an agent is actually representing you as a buyer, the seller, or both, it should be clearly stated in writing for you. This way there will be no questioning as to whom is being represented by who. 


Buyer’s Agent Duties


Having a buyer’s agent is a great resource for you. An agent will be able to help you search for properties. The agent can help you to see properties in person if you are unable to make it to an open house. Buyer’s agents also can provide market analysis to help discover a home’s value. They’ll also strategize with you on negotiating. Other things that the buyer’s agent can assist you with are:



  • Presenting your offer
  • The home inspection
  • The application for a mortgage
  • The completion of the purchase and sales agreement
  • Attend the final walkthrough at the closing


Finding a buyer’s agent is an important part of buying a home. The agent can help you throughout the entire process from finding a home to closing on a home. Your agent can even give you recommendations on everyone who may need to be involved on the road to home ownership including attorneys, inspectors and contractors. It’s important to have someone around who knows all about real estate and can understand every step of the home buying process.


BEAUTIFULLY UPDATED WITH OLD WORLD CHARM MANSARD 2 FAMILY! Live in one unit with hardwood floors, fire place, granite counter, new appliances and so much more. Earn income from 2nd unit that has long term tenant. Plenty of off street parking and 2 car garage. Best deal in town!

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