Let’s Talk Real Estate
With Mary Sexton & Bill Donohue
June 7, 2010 COLUMN JJ5
RUNNING FOR OFFICE
When it comes to staging their homes, sellers may want to consider the popularity of home offices in the minds of many buyers. While an extra bedroom has always been a great selling point for its ability to demonstrate a home’s capacity for holding overnight guests, today’s buyers are even more excited about a home-office potential. With so many people either working out of their homes or telecommuting, home offices are very appealing. Taking this into account, sellers may want to stage their homes with desk furniture in their third and fourth bedrooms. Even better, setting up a computer workstation will help potential buyers visualize what it would be like to work at home.
At CENTURY 21 SEXTON & DONOHUE, we know that most buyers purchase ‘what they see’. Therefore, creating a visual for potential purchasers is important. We have a successful history of helping sellers market their property. Contact us today at (781) 665-6660. We will arrange an initial meeting, provide you with a free market analysis and discuss an individualized marketing plan with you. The office is conveniently located at 29 Essex St., just across the street from Shaw’s. We are "A Team Effort”. You will benefit from our real estate knowledge and experience!
HINT: The placement of a sleep sofa in an extra bedroom or home office further demonstrates the room’s versatility as a dual function living space.
May 31, 2010 COLUMN JJ4
MOVING EXPERIENCES
When selecting a mover to safely transport your personal belongings to your new home, it is best to get recommendations from friends and family. It is often the case that small operations with proven track records offer better services than large out-of-town operations. In fact, people are increasingly tending to use smaller specialty movers who can offer personalized attention. Either way, homeowners should get everything in writing and ask for a "not-to-exceed” estimate, which ensures that the final price for the move will not exceed the estimate figure. There are three levels of insurance available, from limited liability to full protection. Ask for an explanation of each alternative, and choose a plan that corresponds with the value of your possessions.
Selling property and moving can be complicated and stressful. At CENTURY 21 SEXTON & DONOHUE, our experienced team is here to assure that you are assisted every step of the way. No detail is too large or too small for us to handle. Reach us today at (781) 665-6660. Our office is conveniently located at 29 Essex St., just across the street from Shaw’s. We are "A Team Effort”. We look forward to meeting you!
HINT: Sellers should review their homeowner’s policies, to see if they provide appropriate coverage for valuable items that are being moved into their new residences.
May 24, 2010 COLUMN JJ3
VACANT LOOK IN BUYERS’ EYES
Sellers do not always have the luxury of showing fully furnished homes to potential buyers, especially sellers who have already moved on to another home, furniture and all. When sellers find themselves in this circumstance, they should take a cue from new-home builders, who fully realize the value of furnishing their model homes. Buyers sometimes have a difficult time visualizing how a space would look furnished, as well as how they would imagine themselves living there. With this in mind, sellers of vacant houses should seize their situation as an opportunity. Instead of needing to follow the usual advice of divesting their homes of clutter, they need only rent or purchase inexpensive furniture with which to stage their homes.
At CENTURY 21 SEXTON & DONOHUE, we have a successful history of assisting sellers to achieve the best return for the real estate investment. We know what ‘bells and whistles’ attract potential buyers. You will benefit from our real estate knowledge and experience. Reach us today at (781) 665-6660. Let’s meet and discuss how we will help you achieve your goals. Our office is conveniently located at 29 Essex St., just across the street from Shaw’s. We are "A Team Effort”. We’re here for you!
HINT: Professional home stagers can help sellers with vacant properties wring the full visual potential from their homes.
May 17, 2010 COLUMN JJ2
THE BEST OF TIMES
The present provides first-time buyers with the best opportunity in many years. It is safe to say that prices are lower for first-time buyers than they were two, three, and four years ago. At the same time, interest rates have remained relatively low. As long as buyers have good credit scores and sufficient funds for a down payment, there is a large inventory of homes at attractive prices from which to choose. At this point, first-time buyers should be more concerned with getting themselves a home that is bound to be worth more than they paid for it in a few years’ time than watching the market hit the bottom. After all, bottoms to markets are only identified in retrospect.
Now is an excellent time to purchase property. Prices and rates are low, making it possible to purchase significantly more for your money. At CENTURY 21 SEXTON & DONOHUE, we are here to assist you in achieving your real estate ownership goals. As members of the Multiple Listing Service®, we can show you most any property that is on the market in your chosen community. To schedule an initial meeting, contact us today at (781) 665-6660. Our office is conveniently located at 29 Essex St., just across the street from Shaw’s. We are "A Team Effort”. We will exceed your expectations!
HINT: Prospective buyers who have value in mind should concentrate their efforts on homes that have been on the market the longest.
May 10, 2010 COLUMN JJ1
GLOBAL-MARKET OPPORTUNITIES
If there is one segment of the real estate market that is not undeterred by recent market downturns, it is foreign buyers. International clients from Mexico, the United Kingdom, Canada, India, and China in particular know a good deal when they see one. From their perspective, the U.S. real estate market offers opportunities to own choice real estate in a variety of geographical and cultural locales that simply do not exist in their own countries. This country also boasts an educational system and road system that are the envy of most countries in the world. With all this in mind, savvy real estate agents can best represent sellers’ interests by appealing to this large share of potential buyers.
At CENTURY 21 SEXTON & DONOHUE, we are here to assure that your property is marketed appropriately. Our successful history of assisting sellers assures that we attract the right buyers through a strategic, individualized market plan. Whether it’s targeting international clients or a buyer from the next town over, your success in selling is our #1 priority. Contact us today at (781) 665-6660. We will arrange an initial meeting. Our office is conveniently located at 29 Essex St., just across the street from Shaw’s. We are "A Team Effort”. You will benefit from our years of real estate knowledge and experience!
HINT: International clients may be particularly attracted to second homes in vacation spots and resort areas.
May 3, 2010 COLUMN II60
BURIED TREASURE?
These days, sellers will enlist the help of anyone or anything they think might help sell their homes, even if it means reaching out to a higher power. In fact, some sellers have called upon St. Joseph, the patron of carpentry, to help them sell their homes. This tradition can be traced back to the Middle Ages, when an order of religious sisters buried a St. Joseph medal and asked the saint to help them acquire land for a convent. Sellers following this prescription usually bury a statue of St. Joseph upside down (facing the house) in the front yard. Once the home is sold, the statue should be unearthed and placed in a prominent position in the new home.
We hope you found this topic to be both informative and interesting. At CENTURY 21 SEXTON & DONOHUE, we are available to assist you when you decide to sell or purchase property. Discover how you will benefit from our experience and real estate training. Contact us today at (781) 665-6660. The office is conveniently located at 29 Essex St., just across the street from Shaw’s. We are "A Team Effort”. You won’t be disappointed!
HINT: As long as the asking price is right and the home is properly readied and marketed for sale, ritual and the power of positive thinking can only help the process of selling a home.
April 26, 2010 COLUMN II59
THINKING ABOUT SELLING?
If you have been entertaining the idea of selling your home, a real estate agent can provide you with statistics that can help you arrive at an informed decision. Among the factors to carefully consider are the number of homes listed for sale in your immediate market and the number of months that it would take to absorb the supply at the current sales rate. Another way to get a feel for the local market is simply to take notice of the number of for sale signs and vacant houses in the area. The important point to remember is that the old adage about "location, location, location” being the most important factor in real estate has never been more true.
Selling property requires strategic planning if you are hoping to achieve the best return for your real estate investment. At CENTURY 21 SEXTON & DONOHUE, we can offer you years of real estate experience. Learn how we have earned a superior reputation. Contact us today at (781) 665-6660. We will arrange a meeting, provide you with a free market analysis, and discuss a wide range of marketing options. The office is conveniently located at 29 Essex St., just across the street from Shaw’s. We are "A Team Effort”. We will exceed your expectations!
HINT: The local employment rate offers an important clue about the strength of the real estate market in that area
April 19, 2010 COLUMN II58
COME TO PRAISE APPRAISALS?
An accurate home appraisal protects buyers from paying too much and lenders from overestimating the value of collateral. While criticism had been directed toward appraisers for contributing to inflated home prices during the boom years, there is current concern that appraisals are coming in too low, which hinders sales. The tension may rest with recent adoption by government-backed mortgage investors Freddie Mac and Fannie Mae of a code that bars loan officers and mortgage brokers/real estate agents from any role in selecting appraisers. As a result, more lenders have outsourced appraisals to companies that have little knowledge of local areas. With this in mind, consumers should request an appraisal copy to gauge whether it truly reflects the value of "comparables” in their area.
If you are planning on selling your home, contact us at CENTURY 21 SEXTON & DONOHUE, (781) 665-6660. As Realtors® and members of the Multiple Listing Service®, we receive ongoing training in how to best determine the current market value of property in your community. You will benefit from our knowledge and experience. The office is conveniently located at 29 Essex St., just across the street from Shaw’s. We are "A Team Effort”. Your real estate success is our #1 priority!
HINT: According to the national set of rules known as the Uniform Standards of Professional Appraisal Practice, "an appraiser preparing an appraisal in an unfamiliar location must spend sufficient time to understand the nuances of the local market.”
April 12, 2010 COLUMN II57
IT’S ALL IN THE DETAILS
No matter how plain a home may be, most houses usually display features of a particular style that a savvy real estate agent can point out to potential buyers. By carefully noting a home’s overall shape, roof, siding material, window type, and other architectural details, sellers’ agents can paint a beautiful word portrait of a home with historical influences. After all, if a home displays characteristics of Victorian, Colonial, ranch, Tudor, Gothic, Craftsman, cottage, Cape Cod, Spanish, pueblo, or modernist styles, it pays to mention them to potential buyers who have a set style in mind. The better a seller’s agent is able to communicate his or her client’s product to potential customers, the greater the likelihood of success.
Marketing can make all the difference when selling property in this economy. At CENTURY 21 SEXTON & DONOHUE, our team has a successful history of providing individualized marketing plans to our sellers. Accentuating the positives will attract the greatest number of potential buyers. To learn how we can assist you, contact us today at (781) 665-6660. We will provide you with a free market analysis of your home. The office is conveniently located at 29 Essex St., just across the street from Shaw’s. We are "A Team Effort”. We look forward to meeting you!
HINT: Potential buyers often have their minds set on a particular style of house that most strongly appeals to their sense of home.
April 5, 2010 COLUMN II56
NEW SHORT-SALE GUIDELINES
A "short sale,” in which lenders agree to accept the sale price of a home to pay off a mortgage even if the price falls short of the amount owed, is largely favored as an alternative to foreclosure. Although lenders may realize steep losses, their recovery is usually much better than under foreclosure, and short sales enable homeowners to preserve their credit rating. However, lien owners and mortgage insurance companies often slow the process, stifling sales. To facilitate the process, the Home Affordable Foreclosure Alternatives Program provides financial incentives and simplifies the procedures for short sales. Among its requirements, mortgage servicers must approve/disapprove a short sale request within ten days, and the completed transaction must fully release borrowers from the debt.
We are pleased to bring you interesting and informative real estate topics. With current market conditions, properties can be purchased at surprisingly affordable prices. Contact us at CENTURY 21 SEXTON & DONOHUE, (781) 665-6660 to discuss your purchasing criteria. We will show you appropriate properties, and guide you through the process, step by step. The office is conveniently located at 29 Essex St., just across the street from Shaw’s. We are "A Team Effort”. You will benefit from our knowledge and experience!
HINT: Communities and real estate agents favor short sales over foreclosures because the properties are left in better condition than they would be if the homeowner were evicted.
March 29, 2010 COLUMN II55
SHOULD SELLERS TRY THIS AT HOME?
As they say on TV, we are professionals and viewers should not "try this at home.” Yet many sellers at least consider the idea of selling their homes without the help of a real estate agent. The reason given by nearly half of FSBO (For Sale By Owner) sellers is to save money on the commission fee. However, the National Association of Realtors® reports that sellers who use a real estate agent make 16 percent more on the sale of their homes than sellers who choose to go it alone. The fact is that, unless sellers have a specific buyer in mind (such as a friend or family member), they are likely to underestimate the complexity of selling a home.
If you are planning on selling your home, you will benefit from our knowledge and expertise. We know how to best price, stage and market property. Contact us today at CENTURY 21 SEXTON & DONOHUE, (781) 665-6660 to learn more. The office is conveniently located at 29 Essex St., just across the street from Shaw’s. We are "A Team Effort”. We will exceed your expectations!
HINT: It takes a lot of energy, time, and expertise to market a property properly, qualify potential buyers, negotiate a deal, and follow through with all of the necessary paperwork and procedures.
March 22, 2010 COLUMN II54
FANNIE MAE RAISES LENDING STANDARDS
The Federal National Mortgage Association ("Fannie Mae”) was founded in 1938 to purchase and scrutinize mortgages as a means of ensuring that mortgage lenders would have sufficient funds to lend to homebuyers. Far more recently, Fannie Mae has raised its minimum credit score requirements, which should be of interest to would-be borrowers and homebuyers. Under the new guidelines, the government-controlled mortgage finance company will reject borrowers who put down at least a 20 percent down payment but have credit scores that fall below 620 (out of 850). The previous cut-off point was 580. Also, borrowers with a 20% down payment cannot have more than 45% of their gross monthly income going toward paying debts.
As Realtors® and members of the Multiple Listing Service®, we stay abreast of the latest trends in real estate financing. If you are thinking about purchasing property, now may be the ideal time to do so. Contact us at CENTURY 21 SEXTON & DONOHUE, (781) 665-6660. We will arrange an initial meeting, and discuss your real estate aspirations and how we can help you to succeed. The office is conveniently located at 29 Essex St., just across the street from Shaw’s. We are "A Team Effort”. We look forward to meeting you!
HINT: Prospective buyers should have their loans prequalified before they start their home searches.
March 15, 2010 COLUMN II53
CLOSE CALL!
One of the primary factors that exerts a strong influence on a home’s ability to sell is the asking price, which is largely determined by analyzing the price at which comparable homes ("comps”) in adjacent neighborhoods recently sold. Moreover, experienced real estate agents know that some "intangibles” can also play a role in increasing seller profit and/or selling success. Currently, with energy prices continuing their inexorable rise, buyers are looking for homes that are close to schools, shopping, and workplaces. That is to say, sellers can take advantage of their homes’ proximity to the activities and services that buyers want and seek. Homes that are within "walking distance” often sell at a premium.
We hope you found this topic to be both interesting and informative. Our team has a successful track record of assisting sellers to achieve the best return for their real estate investment. Should you be considering the sale of your home, contact us today at CENTURY 21 SEXTON & DONOHUE, (781) 665-6660. We will arrange a meeting, and discuss an individualized marketing plan with you. The office is conveniently located at 29 Essex St., just across the street from Shaw’s. We are "A Team Effort”. Your success is our #1 priority!
HINT: Proximity to quality schools continues to be a high priority among family-oriented home buyers.
March 8, 2010 COLUMN II52
CHANGING TIDES
A popular aphorism says that a "rising tide lifts all boats,” meaning that improved general economic circumstances will benefit everyone. Recently, however, most homeowners have been concerned that a lowering tide has diminished the value of their properties. These worries have prompted many homeowners to adopt wait-and-see strategies, which have them waiting for prices to rebound before they entertain any ideas of placing their homes on the market. However, it must be pointed out that, all things being equal, any rise in their homes’ value will be matched by a similar rise in value of the replacement homes they wish to purchase. Figuratively, we are all in the same boat. An advantage does not necessarily come to sellers who wait.
We hope you found this topic to be both informative and interesting. Take advantage of the current low rates and prices of property! Contact CENTURY 21 SEXTON & DONOHUE at (781) 665-6660 today to discuss your real estate needs, and how we will help you to achieve your goals. The office is conveniently located at 29 Essex St., just across the street from Shaw’s. We are "A Team Effort”. Learn how we have earned a superior reputation!
HINT: If you have any inclination to sell your home, it will not cost you anything to sit down with an experienced agent, who can provide a clear picture of current market conditions in your immediate area.
March 1, 2010 COLUMN II51
MAKING THE FIRST MOVE
Homeowners planning to move are faced with the decision whether it is best to sell their home first or purchase a new home and then sell their old one. This chicken-or-the-egg dilemma is mostly influenced by market conditions and personal motivation. When it comes to doing what is in the best interests of sellers, it pays to sell the home they are currently living in first. Then sellers have time to carefully negotiate the sale of their home without the pressure of having to move into a newly purchased replacement home. Sellers can make the sale of their home contingent on closing concurrently with their new home, but doing so may inhibit their ability to sell their old home.
Selling and buying in succession can be tricky. If this is your plan, contact CENTURY 21 SEXTON & DONOHUE at (781) 665-6660. We can walk you through the process, step by step. We have a successful track record of assisting sellers in your community. Allow us to meet with you and discuss strategies to assure that your real estate goals will be met. The office is conveniently located at 29 Essex St., just across the street from Shaw’s. We are "A Team Effort”. We look forward to meeting you!
HINT: Buyers who sell their old home first can always opt to rent (in some cases, their old home) if they do not find a new home to move into right away.
February 22, 2010 COLUMN II50
SELLER-BACKED PROPERTIES
Market conditions dictate that sellers take the necessary steps to set themselves apart from the competition. With this in mind, it is becoming increasingly popular for sellers to purchase home warranties on their properties. This type of coverage, which can be purchased from a variety of companies, provides prospective buyers with the peace of mind that comes with knowing that heating, plumbing, and other systems are covered after they make their home purchases. In addition, sellers might want to offer documented proof of the age and operating condition of furnaces/boilers; water heaters; air-conditioning units; and other appliances, fixtures, and systems. Documentation of inspections and home improvements also helps would-be buyers to be more comfortable with their buying decisions.
Certainly, it is a good idea to preplan how best to market your property. In a competitive market, individualizing a marketing plan to highlight unique features and advantages of your home can make the difference. If you are considering the sale of your home, contact CENTURY 21 SEXTON & DONOHUE at (781) 665-6660. We will arrange an initial meeting and provide you with a free market analysis. The office is conveniently located at 29 Essex St., just across the street from Shaw’s. We are "A Team Effort”. We will exceed your expectations!
HINT: If sellers have installed energy-saving upgrades in their homes, they might want to showcase them to prospective sellers by providing information about the cost savings they provide
February 15, 2010 COLUMN II49
EXPANDING ON A GOOD IDEA
The legislation that enables first-time home buyers to take advantage of an $8,000 tax credit has been a great deal for many buying their first homes. With the window on this tax credit set to close, Congress recently decided to extend it. This means that qualifying buyers can collect the $8,000 if they sign a purchase agreement by April 30, 2010, and close by June 30. Just as importantly, if not more so, is the decision by Congress to allow many buyers who currently own homes to avail themselves of a similar tax break. Operating under the same deadlines imposed on first-time buyers, buyers who have owned their current homes at least five years would be eligible for tax credits of up to $6,500.
If you were thinking of purchasing a first home, this may be the ideal opportunity to do so. Taking advantage of available tax credits is one way to help make homeownership a reality. Contact CENTURY 21 SEXTON & DONOHUE at (781) 665-6660. We will meet with you to discuss your purchasing power, and what amenities you are seeking. The office is conveniently located at 29 Essex St., just across the street from Shaw’s. We are "A Team Effort”. You will benefit from our real estate knowledge and experience!
HINT: The homebuyer tax credit mentioned above is available for the purchase of principal homes costing $800,000 or less. Vacation homes are ineligible.
February 8, 2010 COLUMN II48
GETTING FROM HERE TO THERE
In between the time that buyers close the deal on their old house and move into their new one, they can be faced with the challenging situation of owning two residences simultaneously. Although this is a temporary situation, homeowners still need the funds to keep them afloat during their move. This is where a "bridge loan” comes into play. This type of temporary loan is designed to bridge the gap between the sale price of a new home and a homebuyer’s new mortgage if the buyer’s home has yet to be sold. The bridge loan, which is secured to the buyer’s existing home, provides funds that are then used as a down payment on the move-up home.
We are pleased to present you with interesting and informative real estate topics. Whether you are planning on selling or purchasing property, you will benefit from our real estate experience. Contact CENTURY 21 SEXTON & DONOHUE today at (781) 665-6660. We will arrange an initial meeting to discuss your real estate goals. The office is conveniently located at 29 Essex St., just across the street from Shaw’s. We are "A Team Effort”. We will exceed your expectations!
HINT: Bridge loans benefit buyers by enabling them to immediately place their homes on the market without restrictions.
February 1, 2010 COLUMN II47
TIME TO LET GO?
Current real estate conditions have many homeowners wondering whether it makes better sense to sell their homes or stay and improve what they have. One way to arrive at a decision is to look closely at the immediate neighborhood. Similar homes (comparables) tend to cluster within 8% to 12% above or below the median price of the aggregate. If the cost of a home improvement will raise a home’s value beyond the higher limit of this range, homeowners should seriously entertain the idea of selling and moving. Would-be sellers who are considering major improvements to their existing homes would do well to consult with a real estate agent, who can best outline payback limits and discuss alternative measures and strategies.
If you are considering the sale of your property, but are unsure of its value, contact CENTURY 21 SEXTON & DONOHUE. As Realtors®, and members of the Multiple Listing Service®, we receive ongoing training in how to determine the current value of real estate. We have a successful history of assisting sellers in your community. Reach us today at (781) 665-6660. We will arrange an initial meeting when we will present you with a free market analysis of your home. The office is conveniently located at 29 Essex St., just across the street from Shaw’s. We are "A Team Effort”. Your success is our #1 priority!
HINT: As a general rule, homeowners do not want to have the most expensive home in their neighborhoods. Instead, they should want to make an upward move to a neighborhood in which they have the least expensive home.
January 25, 2010 COLUMN II46
FACING NEW REALITIES
By now, many homeowners have gotten over the shock of diminished home prices and have begun to adjust to the new market realities. This modified mind-set is reflected in the fact that home prices have either leveled off or begun an upward trend, however modest. With this in mind, sellers will want to set their prices in accordance with what the market currently will bear, and buyers will certainly want to have "all their ducks in a row” in terms of their finances. This means buyers will want to sit down with potential lenders before they even set foot in a seller’s home so that they can get mortgage approval. Buyers must have the means to match their desire.
For those who wish to purchase property, obtaining a pre-approval for a mortgage from a lending institution is critical. Sellers may not accept an offer to purchase from a buyer who has no proof that they are qualified for financing. If you are considering the purchase of property, contact CENTURY 21 SEXTON & DONOHUE at (781) 665-6660. We will walk you through the process and assist you to achieve your real estate goals. The office is conveniently located at 29 Essex St., just across the street from Shaw’s. We are "A Team Effort”. Learn how we earned a superior reputation!
HINT: Buyers who wait for the market to hit the proverbial bottom may be shocked if overcorrected home prices were to snap back with a vengeance.
January 18, 2010 COLUMN II45
PROFITABLE PLACEMENT
Home staging is the home presentation strategy that involves removing clutter and repositioning furniture and accessories. Once limited to only savvy sellers, today’s competitive real estate market compels nearly all home sellers to stage their homes to some degree. Lest anyone doubt the effectiveness of these efforts to show homes to their full aesthetic potential, one report conducted by the U.S. Department of Housing and Urban Development reports that a staged home will sell at a price 17% higher than homes that are unstaged. Moreover, a survey of real estate agents from all over the country reveals that sellers who spent at least $500 on staging their homes recovered more than 343% of the cost at the time of sale.
Staging is one important aspect of preparing a property for marketing. If you are thinking about selling your property, contact ideal time to do so. If you are hoping to ‘make a move’, contact CENTURY 21 SEXTON & DONOHUE at (781) 665-6660. You will benefit from our knowledge and experience. Call us today. We will arrange an initial meeting when we will discuss an individualized marketing program with you. The office is conveniently located at 29 Essex St., just across the street from Shaw’s. We are "A Team Effort”. We’re here for you!
HINT: To gauge the full effect of home staging, sellers should have a non-partial and independent person assess its effectiveness.
January 11, 2010 COLUMN II44
JUDGING BY THE COMPETITION
The average house hunter will look at about a dozen homes before finally placing an offer on a house. Sellers should bear this in mind when it comes to pricing their homes. In today’s competitive market, many sellers persist in making the common mistake of setting too high a price for their homes, hoping they can start with a high price and negotiate from there. However, this overpricing strategy is often counterproductive. Buyers who could have afforded the home might never see it because they assume it is out of their range, and those finding the home to be in their higher price range will likely find it lacking the amenities offered by other homes in that price category.
Determining the appropriate pricing for your property assures that it will attract the appropriate buyers. If you are thinking about selling, contact us. You will benefit from our years of experience marketing properties in your community. Call CENTURY 21 SEXTON & DONOHUE today at (781) 665-6660 to arrange a meeting. The office is conveniently located at 29 Essex St., just across the street from Shaw’s. We are "A Team Effort”. We wish you a healthy and prosperous New Year!
HINT: Real estate agents know what percentage of asking price that homes in their clients’ markets are selling for. This information helps them formulate successful pricing strategies.
January 4, 2010 COLUMN II43
CONTINGENCY PLANNING
Sellers considering offers from prospective buyers should carefully review any contingencies along with terms and price. Most buyers’ offers are contingent on financing, but current market conditions argue strongly for mortgage prequalification and preapproval. If the offer is contingent upon a satisfactory home inspection, sellers should have it done as promptly as possible. Better yet, because some buyers use the results of a home inspection to re-open negotiations, sellers can circumvent this possibility by having a home inspection completed prior to putting their homes on the market. That way, there are no surprises for anyone. It may be best to attend to any repairs or problems at the outset as a means of removing potential stumbling blocks to a sale.
Having a home inspection prior to marketing the property alerts sellers to any potential issues that may influence negotiations once a buyer comes forward. To learn more about how to prepare for the sale of your property, contact CENTURY 21 SEXTON & DONOHUE at (781) 665-6660. We will arrange an initial meeting, provide you with a free market analysis of your home, and discuss an individualized marketing plan with you. The office is conveniently located at 29 Essex St., just across the street from Shaw’s. We are "A Team Effort”. Learn how we earned our superior reputation!
HINT: A buyer’s offer that is contingent upon the sale of his or her own home presents sellers with a risky proposition that they will want to carefully consider with their agents.
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