The steps to purchasing a single family home or a condominium in Boston are very similar. Let's assume that you have have spoken to a bank or mortgage broker (if financing) to determine a comfortable and qualifiable price level and found the property on which you wish to place an offer.

1. When you have found the right property, a bid or offer will be placed through your agent. They will convey your offer to either the seller's agent or to the seller directly.
   
   
2. The seller may "counter" your offer. This will begin a negotiation process that will eventually lead to a "meeting of the minds," at which point price, terms, and closing date have been agreed upon.
   
   
3. Once your offer has been accepted you'll have the opportunity to hire a building inspector to inspect all structural aspects of the property as well as the working order of its appliances.
   
   
4. Contact a real estate attorney familiar with real estate in our area to represent you. The seller's attorney will begin preparation of a contract of sale, and during that time your attorney will begin to examine the financial condition of the building in which you wish to purchase.
   
   
5. After your lawyer concludes that the financial condition is satisfactory, that the by-laws (if a condominium) of the building are acceptable to you, and that the contract of sale is also acceptable, your attorney will allow you to sign the contract. At that time you will usually be required to present a deposit of 10% of the purchase price. The contract will then be forwarded for signature by the seller with the deposit. This money will be held in the seller's attorney's escrow account until closing.
   
   
6. If financing, you should move forward with your loan application with your bank or mortgage company. This process typically requires: an application, an application fee to cover a property appraisal, financial documentation such as a pay stub or copy of tax returns, bank statements, loan information, etc. Also, a credit report will be requested at this time. Your mortgage broker will aid you through this entire process. The more information about your job and financial situation at this stage, the smoother the financial application process will go.

The entire process can move quickly, and assuming a loan can be secured in a timely fashion, one can move from contract to closing in about 60 days.