Buying a home for the first time is often a very confusing process and could be daunting one for many.  Praful Thakkar organized a free seminar at China Blossom Restaurant, North Andover on April 9th.  Real Estate Lawyers along with mortgage agents were present to answer all relevant questions. The goal of the seminar was to help home-buyers fulfill the quintessential ‘American Dream’ of home ownership.

The session was very informal. Thakkar clearly explained the steps involved in the home buying process starting from obtaining financing pre-approval, offer to purchase, inspection, purchase & sale agreement, submitting formal mortage application, appraisal, mortgage commitment and finally the closing.  He also explained the benefit of buying the house in comparison to renting a house.  All the attendees were presented with information material along with CDs to get an handle of home buying process.

Swati Mukerji, Mortgage Originator from New Boston Mortgage Corporation explained the mortgage process.  She drew attention to existence of several types of mortgages and emphasized that buyers must choose a mortgage that  is right for them.

Doug Mercurio, Attorney Owner of Law Offices of Douglas M. Mercurio, P.C. in North Reading, described the value of real estate attorney in home buying process. Mercurino said that knowledge of current law and rulings is  important and only dedicated attorneys can stay updated  with all the rulings and properly guide a buyer.

 Overall it was a very useful session for first time home buyers. The session along combined with free lunch buffet from China Blossom was definitely a dual treat. Attendees had ample time to ask specific questions.

|