The process · Massachusetts
How to buy a house in Boston
Massachusetts does two things differently from most of the country, and both catch people. There are two contracts rather than one, and an attorney rather than a title company runs the closing. Everything below is ordered the way it actually happens.
Ask Devarshi about your situationThe order things happen in
Financing first, town second, touring third. Most people do it backwards — they tour, fall for something, then discover what they can borrow and which town it was in. That sequence costs months.
1. Settle financing properly. Not a portal pre-qualification — a lender who has looked at documents. In a competitive situation the difference between a soft pre-qualification and a fully underwritten pre-approval is the difference between a credible offer and a discarded one.
2. Decide the town, then the street. Property tax rates and residential exemptions are set per town and change what a house costs to hold. Compare towns on those axes first.
3. Tour, and keep a walk-away number. Agree in advance what would make you stop — a price, an inspection finding, a condominium document. A competitive market will otherwise decide it for you.
4. Offer, inspect, sign the P&S. This is the compressed part, roughly one to two weeks, and it is where transactions fail.
5. Clear the lender, then close. Six to eight weeks from accepted offer is typical on a financed purchase.
The two-contract structure, which is the thing that surprises people
You sign an offer, and then a fuller purchase and sale agreement roughly one to two weeks later, negotiated by attorneys. The inspection generally sits in the gap between them. Buyers from single-contract states consistently underestimate that window.
The offer is binding in the way that matters — your deposit is at stake and the property comes off the market. But the purchase and sale agreement is the document that governs the transaction, and it is negotiated after your offer is accepted, not before.
Practically, that means a lot happens fast: inspection scheduled and performed, findings negotiated, attorney review, signature. Three parties have to move in step against a date that does not shift. Preparation before the offer is what makes it survivable.
Massachusetts requires an attorney to conduct the closing — the state does not use escrow or title companies for this. Engage yours early rather than at signing, and understand that your lender's attorney represents the lender, not you.
What you need to earn, and what you need in cash
Lenders generally want housing costs under 28% of gross monthly income and total debt under 36%. Those are guidelines rather than law, and many lenders go above both — but they are the arithmetic behind any figure you have read.
Rather than quote a headline income figure, which is only true for one down payment and one rate, run your own numbers through the calculator. It works backwards from a price, a rate and a town's tax rate to the income those ratios imply.
On cash: you need the down payment, closing costs, and — since 2024 — potentially a payment to your own agent. If a seller contributes less toward your agent's compensation than your representation agreement specifies, the difference is generally yours at closing, and it usually cannot be financed.
Before assuming you need 20%, check the assistance. Boston grants up to $50,000 and MassHousing up to $30,000 to qualifying first-time buyers, and there is a state programme with 3% down and no mortgage insurance.
Making an offer that gets accepted
Price is one lever of several. Deposit size, closing-date flexibility, inspection scope and whether a mortgage contingency is present all carry weight, and trading the right ones is most of the craft.
In competitive stretches buyers reach for waiving the inspection contingency. Sometimes that is a defensible calculated risk; often it is an agent optimising for the deal closing rather than for you. The middle ground is worth asking about — a pre-offer inspection, or an inspection for information only rather than for renegotiation.
An escalation clause can work but shows your ceiling. A larger deposit signals seriousness at real risk. Flexibility on the closing date costs you nothing and is sometimes worth more to a seller than money, particularly if they are buying onward.
On off-market inventory: it exists, it is smaller than people imagine, and it is reached through agent networks and direct outreach rather than through any website. Anyone promising systematic access to it is overselling.
Questions about the process
How long does it take to buy a house in Boston?
Six to eight weeks from accepted offer to closing is typical on a financed purchase, and cash can be faster. The pressured stretch is the first one to two weeks, between the accepted offer and the signed purchase and sale agreement, with the inspection inside it.
Add however long the search takes, which is entirely dependent on your criteria and the season. Preparation before you start looking shortens the total more than anything else.
What credit score do I need to buy a house in Massachusetts?
There is no single threshold — it varies by loan product, and Massachusetts programmes for first-time buyers often have their own requirements distinct from a conventional lender's. Higher scores generally get better pricing rather than a yes-or-no answer.
The more useful step is to have a lender pull your actual file early. A score you looked up on a card app is frequently not the score a mortgage lender sees, and finding that out during an offer is expensive.
Can I buy a house in Boston with 5% down?
Yes, and with less. Below 20% down most conventional loans add mortgage insurance, which is a real monthly cost. But Massachusetts runs a programme with 3% down and no private mortgage insurance, and Boston layers its own assistance on top for qualifying buyers.
Worth doing the comparison properly rather than assuming: a smaller down payment with assistance and no mortgage insurance can beat a larger one without.
What should I look for in a Boston home inspection?
The housing stock here is old, so expect findings — the question is which ones matter. Knob-and-tube wiring, an ageing heating plant, water in a basement, and roof age are the ones that carry real cost. Cosmetic findings are what a hundred-year-old house looks like.
Ask specifically about the heating system's age and fuel. New England winters make that a larger line item than buyers from warmer states expect, and a poorly insulated older building can cost several times what a recent build does to heat.
Do I need a closing attorney in Boston?
Yes — Massachusetts requires an attorney to conduct the closing. A straightforward purchase commonly runs a flat fee in the region of $750 to $1,250.
Your lender will also have an attorney. That person represents the lender's interest, not yours, and buyers regularly assume otherwise.
Do I pay the deed excise as a buyer?
No. The deed excise — the tax stamps — is a seller cost in Massachusetts, charged at $2.28 per $500 of the sale price or any fraction of it. Buyers who have read a generic national guide sometimes budget for it unnecessarily.
How do I win a bidding war in Boston?
By being the cleanest offer rather than only the highest. Fully underwritten financing, a larger deposit, flexibility on the closing date, and a decision-maker who answers the phone all matter — sellers discount offers they think might fall apart.
The discipline that actually protects you is the walk-away number agreed before you were emotionally invested. Bidding wars are where people abandon it.
How do I find off-market homes in Boston?
Through agent networks, direct outreach to owners in a specific area, and occasionally estate or probate situations. It is real but far smaller than the interest in it suggests, and it is not systematically searchable.
Be sceptical of anyone advertising reliable off-market access as a service. The honest version is that an agent who works a neighbourhood hears things, and that is worth something but is not a database.
Sources
Every figure on this page is reproduced from the source listed against it, for orientation rather than as advice. Massachusetts fiscal years roll on 1 July and municipalities republish on their own schedules, so confirm anything you plan to rely on before you rely on it.
- Commonwealth of Massachusetts
- Corroborated across multiple Massachusetts brokerages
- M.G.L. c. 64D §1
- National Association of Realtors settlement terms
- Consumer Financial Protection Bureau
Last verified .
Working out where to start?
Send your timing, rough budget and the towns you are weighing. Devarshi will tell you what to do first — which is rarely looking at houses.