How buying new construction works.
Buying a new construction condominium is different from buying a resale. The unit does not exist yet, closing depends on permits, and the condo documents are created as part of the build. Here is how it works at 167 Maverick Street.
Written by Caleb Benedict, McCorry Real Estate LLC. Updated September 2026.
How do I tour a new construction property?
Hard-hat tours are available now while the building is under construction. You walk the building with the sales team and see the actual unit you would be buying. Once the certificate of occupancy issues, completed-unit showings begin. Request a tour here.
How do I make an offer?
Submit your offer to The Everfull Team (the developer's sales representative). There is no bidding war process. Reservations are honored in order of executed purchase-and-sale agreement. Your buyer agent is welcome and will be compensated (ask for the co-broke terms).
What are the deposits?
Typically a deposit at the time of the purchase-and-sale agreement, held in escrow. The exact deposit schedule is outlined in the P&S. All deposits are held by the closing attorney, not by the developer or the brokerage.
Can I finance a new construction condo?
Yes. Most buyers finance new construction condos with a conventional mortgage. Your lender will need to review the condominium documents (the Master Deed, Declaration of Trust, and unit floor plans) to approve the project. We provide a complete condo document package to lenders.
Because the building is new, there is no condo association history or reserve study yet. Your lender will assess the building based on the projected budget, insurance, and the developer's financials. This is normal and most lenders are familiar with the process.
What is a certificate of occupancy?
The certificate of occupancy (CO) is a document issued by the City of Boston confirming that the building meets all building codes and is safe to occupy. No one can move in until the CO issues. At 167 Maverick, the target CO date is October 15, 2026.
What is a Master Deed?
The Master Deed is the legal document that creates the condominium. It is recorded at the Suffolk County Registry of Deeds and defines each unit's boundaries, the common areas, the percentage interest of each unit, and the rules of the condominium trust. The Master Deed must be recorded before any individual unit can be conveyed.
When do closings happen?
Closings follow two milestones: the certificate of occupancy and the recorded Master Deed. Once both are in place, the closing attorney schedules the closing. You receive your keys, and the unit is yours.
What about the offering statement and condo documents?
Massachusetts General Laws Chapter 183A requires the developer to provide buyers with an offering statement before closing. This includes the Master Deed, Declaration of Trust, floor plans, projected budget, and other material disclosures. Certified floor plans and condominium documents are available to buyer agents on request.
Is there a warranty?
Yes. New construction carries a one year builder warranty, alongside the protections Massachusetts law provides for newly built homes. The warranty covers defects in materials and workmanship. It does not cover normal wear, cosmetic issues, or items caused by the owner.
When can I move in?
167 Maverick Street is delivering fall 2026, with a target certificate of occupancy of October 15, 2026. Closings follow the CO and the recorded Master Deed. Move-ins begin at closing.