Ipswich MA First Time Buyer Information

The home purchase process can be a bit confusing for first time buyers. This Ipswich MA first time buyer information below will help.

Start with as much information as possible real estate is a big investment!

Before Searching for Homes

Talk to a Local Mortgage Company & Request Pre-approvals

Speak with several local lenders and request pre-approvals from your top two choices. Ask that they use a soft pull of your credit to minimize the impact it will have on your score. Keep in mind that banks may have different alternatives than mortgage companies. Compare their services and fees to figure out the best provider. Get estimates on up-front costs and monthly expenses. This may give a good estimation of what you can afford.

Get Assistance from a Real Estate Professional

Find a real estate agent to guide you through the home purchase process. Evaluate several agents and pick one that best fits your needs. Experienced agents can help you narrow down options, submit contracts, and facilitate a smooth transaction. This expertise can make a huge difference first time buyers.

Notes About Buying Steps

Seeing Real Estate

Only visit homes within your price range. This avoids the heartache of wanting a home that you cannot purchase. Viewing properties can take lots of time and energy, so sticking to your budget will also save valuable time.


Real estate agents can offer tips on contracts and help you negotiate them, but they can not practice law. Think about using a local real estate attorney to explain legal jargon and add any necessary terms. Do not sign any documents that you are not completely comfortable with.


Inspections are not intended for price re-negotiations. Also avoid negotiating previously disclosed problems. Such strategies are not typically successful and result in wasted money spent on the inspection. Sellers may agree to repair issues, provide monetary concessions, or do nothing at all. Maintaining a good relationship with the seller will help with this process.

Final Walk-Thru

Prior to the closing, you will have an opportunity to view the property. Try and make this after the seller has vacated the home. Resolve any issues before signing closing paperwork as there is little you can do afterwards.

Homes Closings

Be sure to bring legal identification to the closing. Bring a bank check or money order for any money due. Have your checkbook ready for any last minute changes. Once the closing paperwork is filed, the property is yours!

More Ipswich MA First Time Buyer Information

The home real estate process can be much easier with some advanced preparation and knowledge. For tips beyond what is provided in this Ipswich MA first time buyer information, contact John Wells at Wellsco Realty by calling 978-518-1481 or by emailing teamjohn@johnpwells.com.

Liz Ryan Loan Officer

About Editor-John P. Wells

I am a resident of Newburyport and have worked in education, high tech and urban development. My interests in architecture and construction are invaluable to my clients. For more information please visit the Wellsco website.