LISTED & SOLD!
Thinking about Buying or Selling??
Contact me today!
Thinking about Buying or Selling??
Contact me today!
41 Bouchard Ave, Dracut
Sold for $255,000
How Much Is Your Home Worth In Today’s Market?
Negotiation is a subtle art in real estate, but skilled negotiators can usually find some common ground that satisfies all parties. On the other hand, using the wrong negotiation tactics can sink a deal pretty quickly. Here are some negotiation tactics buyers (and real estate professionals) should avoid:
Talk to mortgage brokers.
Many first-time home buyers don’t take the time to get pre-approved. They also often don’t take the time to shop around to find the best mortgage for their particular situation. It’s important to ask plenty of questions and make sure you understand the home loan process completely.
Be ready to move.
This is especially true in markets with a low inventory of homes for sale. It’s very common for home buyers to miss out on the first home they wish to purchase because they don’t act quickly enough. By the time they’ve made their decision, they may find that someone else has already purchased the house.
Find a trusted partner.
It’s absolutely vital that you find a real estate professional who understands your goals and who is ready and able to guide you through the home buying process.
Make a good offer.
Remember that your offer is very unlikely to be the only one on the table. Do what you can to ensure it’s appealing to a seller.
Factor maintenance and repair costs into your buying budget.
Even brand-new homes will require some work. Don’t leave yourself short and let your home deteriorate.
It’s easy to get wrapped up in your present needs, but you should also think about reselling the home before you buy.
Develop your home/neighborhood wish list.
Prioritize these items from most important to least. Select where you want to live.
Heating costs rise year after year, leaving homeowners with growing concerns over how they’re going to make it affordable to keep their home warm during the winter months.
Solutions to this issue range from long-term investments to quick fixes that will help you save in the short term. If you’re renting an apartment or plan on moving soon, you might be better off focusing on low-cost, short-term fixes while you shop for a home that is more energy-efficient.
In this article, we’ll cover both types of solutions so you can start saving money and fearing the heating bill each month.
Read on for the list of the most cost-effective ways to save on heating your house this winter.
A lot of heat can be lost from a door that has worn and outdated weatherstripping. Replacing it will help reduce heat loss for years to come.
Another common issue is heat being lost from door thresholds. To find out if your threshold needs to be adjusted, look for a space in between the bottom of the door and the threshold. It’s often easiest to see this at night if there’s a light on the other side of the door.
Many door thresholds can be adjusted by tightening and loosening a screw. However, if you’re renting and don’t want to make any big changes to the doors without your landlord’s permission, a good quick fix is to use something called a draft guard. This is essentially a roll of fabric that rests against the bottom of the door and blocks cold air from entering the house.
With a programmable thermostat, you can decide when it matters most to you to heat the home. For homeowners who are at work from 9-5, it might not be necessary to heat an empty home for the whole day.
Similarly, you can save quite a bit of money by lowering your thermostat by 5 degrees during the night time while you’re asleep.
If you work from home, you might want to keep the house warm during the day so you can focus on your work rather than how cold your toes are! However, you also have the advantage of being home to take advantage of solar heat.
Opening shades and blinds that are receiving direct sunlight and closing those that aren’t is a great way to raise the temperature in your home by a few degrees on sunny days.
Most homes lose a significant amount of heat to small cracks around window frames, electrical units, and other vulnerable areas around the home. Sealing up these cracks and holes can save you a substantial amount of money, especially if you live in an older home that has seen a lot of wear and tear.
There’s no need to heat every room in your house during the colder months. Keeping bedroom and bathroom doors shut and using a small space heater in the room you’re occupying is a great way to reduce your heating bill.
Massachusetts Home Buying – Is the Purchase and Sale Deposit the Same as the Down Payment?
Being a Massachusetts home buyer is a bit different than buying in some other parts of the country. Here in Massachusetts we have a two part contract system. It consists of the “Offer to Purchase” and the “Purchase and Sale Agreement.”
Initially, at the offer stage it is customary to put a deposit of $500 to $1,000 along with the offer in order to bind the agreement.
Ten days to two weeks after the offer comes the Purchase and Sale Agreement. This is the actual complete document that will have all the terms and conditions of the sale. At Purchase and Sale signing, the buyer will put down a more substantial deposit in order for the seller to feel secure about taking the property off of the market.
The question then arises – is the Purchase and Sales deposit the same as the “down payment?”
The customary amount for the P&S deposit is equal to 5% of the purchase price you will be paying for the property. And, I would not advise putting down any more than this. There is really no reason to do so.
Unless you are in the situation with an FHA or VA loan in which you will be able to put a low down payment, 5% will not be a significant enough amount to qualify as your complete down payment. This is still merely a deposit that holds the property off of the market.
When the P&S is signed and executed, the deposit check is cashed and the funds are put into an escrow account. There they will stay there until your closing at which time this money is brought forward and applied to your purchase.
At the time of your closing you will be bringing “good funds,” usually a bank check, for the remaining amount of your down payment as well as any closing costs.
As a Massachusetts home buyer you should know – there is a definite distinction between the Purchase and Sale deposit and your down payment.