Since the beginning of civilization, humans have gained strength and power from their ownership of property.  The cave man fought with clubs and spears to protect and defend his territory.  Although they were not written on a formal deed, his ownership rights were complete and made known to others around him.

    As time went on, people joined together to aid each other in the defense of their property, giving up some individual rights in order to have a certain degree of security. With population growth, a more centralized authority developed allowing the individual to regain more singular ownership by passing back part of his crops as "property tax" for protection.

    During the feudal system which took place in Europe between the 8th and 11th centuries, this centralized figure took the form of a  king.  Kings gave out leases to their allies and family members, thereby, making them "lords."  The lord employed serfs and peasants to live on and work the land in exchange for a tribute back to him.  The lord, in turn, had to pay the king for his right to possess the land. During this time, the peasants kept possession of the land, while royalty retained ownership and collected rents.

    It is from this period that we acquired the term "landlord". The tenant farmer was allowed to put a fence up on his lot, but the king still owned all of the fenced-in land. The king would give land to a loyal knight, but upon the death of the knight, the land returned to the ownership of the Crown, thereby proving the king’s authority over everyone.

    It is also from this era that we acquired the term "fee simple".  The noble or lord would grant an estate, called a fee, to a loyal subject in exchange for money or service. Under the normal traditions of the time, the land would return to the lord on the death of the subject.

    These were common practices until 1215 when the Magna Carta was signed giving the lords more authority over their holdings of land, including the ability to pass it on to their heirs.  To spell out this intention, the phrase "and his heirs" would be included in the contract.  This phrase still remains on deeds that are held in fee simple, which is currently considered the most complete form of property ownership.

    As each of these laws was passed, a verbal code known as "common law" developed.  These common laws remain the basis for much of the American system of property ownership with forty-nine states being able to trace their real estate principles back to this English practice of land holding.  Laws that were originally written to protect the king and all of his holdings are now the basis of laws that protect your rights to private property.

    Our founding fathers, particularly Thomas Jefferson, believed that property ownership was at the core of individual freedom and independence. These ideals are connected with the fact that the United States was the first nation to make thirty-year mortgages acceptable and also to make mortgage interest tax deductible.  Land holding then was tied to the very rights that we hold dear today, such as the right to vote.

    Entering the twentieth century, land purchases were ruled by caveat emptor (let the buyer beware).  It was not until 1917 that some states started to pass laws to license realtors and enact legislation to protect property buyers.   In the twenty-first century, home ownership is still at the basis of wealth-building. With added assistance from the government in the form of tax advantages and other incentives, people who would not otherwise be able to do so can begin a foundation of savings in the form of building equity in their own residences.

     As a renter you were paying someone else's mortgage and contributing to their financial future.   Now, with your home purchase, you are on the road to building your own personal wealth.   To that end, you have probably consulted with friends and read a number of articles or books on the home buying process. 

     With this book,  I have laid out the inner workings of an entire real estate transaction;  not as instructions from a course telling you how the process should  happen, but, rather explaining how a  home purchase actually does happen and what you will need to know to get through it.  The material here is  also specific to customs and laws as that pertain to Massachusetts since real estate purchases throughout the country are not all alike.   

     Beginning with obtaining your financing, choosing a real estate agent, looking at properties, making an offer, going through a home inspection and straight through to your closing;  the practical information you need is located in these pages.  My goal was to make this a one-stop resource for answers to all of the questions you will be confronted with in your search for the perfect home. 

       Whether you have allied yourself with  a good broker or are going it alone, this book should provide you with a beacon of  light that will help you find a way to a happy closing.