New Listing!

39 Pequot St, Billerica
$449,900

An outdoor enthusiasts dream location!! This well maintained 3 bdrm colonial abuts the conservation land of the Vietnam Veterans Park which offers an abundance of trails, you can also launch your canoe or kayak directly across the street or just relax on your front porch admiring the views of Winning Pond!! The open floor plan is ideal for entertaining! Eat in kitchen with pantry, formal dining room open to the large living room and a little nook for an office! Hardwood floors are through out the 1st floor & 2nd floor hallway. Upstairs offers 3 generous sized bedrooms, full bath and pull down attic access. Basement is partially finished and great potential for additional space! Easy to maintained fenced yard with oversized deck that overlooks the conservation land where you can catch many of mother natures little furry friends!
More Details and Pictures

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How To Prepare to Buy a Home

Talk to mortgage brokers.
Many first-time home buyers don’t take the time to get pre-approved. They also often don’t take the time to shop around to find the best mortgage for their particular situation. It’s important to ask plenty of questions and make sure you understand the home loan process completely.

Be ready to move.
This is especially true in markets with a low inventory of homes for sale. It’s very common for home buyers to miss out on the first home they wish to purchase because they don’t act quickly enough. By the time they’ve made their decision, they may find that someone else has already purchased the house.

Find a trusted partner.
It’s absolutely vital that you find a real estate professional who understands your goals and who is ready and able to guide you through the home buying process.

 

1st-time-hb.jpgMake a good offer.
Remember that your offer is very unlikely to be the only one on the table. Do what you can to ensure it’s appealing to a seller.

Factor maintenance and repair costs into your buying budget.
Even brand-new homes will require some work. Don’t leave yourself short and let your home deteriorate.

Think ahead.
It’s easy to get wrapped up in your present needs, but you should also think about reselling the home before you buy.

Develop your home/neighborhood wish list.
Prioritize these items from most important to least. Select where you want to live.

The Most Cost Effective Ways to Save on Heating Your Home This Winter

Have you lost any deals due to a Home Inspection?? — Bill Nickerson’s Blog

A great read!

We hear so many times of home sales falling apart due to home inspections or some minor repair issues. Broken steps, missing railings, chipping or flaking paint and the list goes on. These are typically minor issues and can be fixed quickly and affordably. What if I told you I have the answers to your […]

via Have you lost any deals due to a Home Inspection?? — Bill Nickerson’s Blog

Home Buying & The Down Payment

Massachusetts Home Buying – Is the Purchase and Sale Deposit the Same as the Down Payment?
Being a Massachusetts home buyer is a bit different than buying in some other parts of the country. Here in Massachusetts we have a two part contract system. It consists of the “Offer to Purchase” and the “Purchase and Sale Agreement.”

Initially, at the offer stage it is customary to put a deposit of $500 to $1,000 along with the offerdownpaymentonhouse in order to bind the agreement.

Ten days to two weeks after the offer comes the Purchase and Sale Agreement. This is the actual complete document that will have all the terms and conditions of the sale. At Purchase and Sale signing, the buyer will put down a more substantial deposit in order for the seller to feel secure about taking the property off of the market.

The question then arises – is the Purchase and Sales deposit the same as the “down payment?”

The customary amount for the P&S deposit is equal to 5% of the purchase price you will be paying for the property. And, I would not advise putting down any more than this. There is really no reason to do so.

Unless you are in the situation with an FHA or VA loan in which you will be able to put a low down payment, 5% will not be a significant enough amount to qualify as your complete down payment. This is still merely a deposit that holds the property off of the market.

When the P&S is signed and executed, the deposit check is cashed and the funds are put into an escrow account. There they will stay there until your closing at which time this money is brought forward and applied to your purchase.

At the time of your closing you will be bringing “good funds,” usually a bank check, for the remaining amount of your down payment as well as any closing costs.

As a Massachusetts home buyer you should know – there is a definite distinction between the Purchase and Sale deposit and your down payment.