10 Questions to Find Out if You're Qualified to Sell Your House

Most people think that being qualified is for home buyers and that it means being pre-approved for a mortgage. Being qualified is not just for buyers, sellers also need to be qualified!

Sure, anyone who owns a property can sell it (assuming there are
no legal restrictions) but owning a property does not make for a “qualified” seller. In real estate, the definition of qualified is “ready, willing, and able.” Buyers and sellers both need to be ready, willing, and able; that means financially, logistically and emotionally.
Here are some questions to answer to determine if you are qualified to sell:

1.   Do you have enough equity in your house to cover closing and moving costs or else have enough cash to bring to the closing table?

2.   Are you and everyone involved committed to selling? Do your spouse and/or children want to move? Do you have adult children who have their own ideas about the house and what you should be doing?

3.    Is your house ready to go on the market? Has it been de-cluttered with everything in working condition, fixed or replaced, fresh paint, refinished floors, lighting, landscaping, etc., with updates that will appeal to today’s buyers?

4.   If you plan to sell “as is” and are you willing to reflect that in your list price?

5.   Do you have a place to go when you sell?

6.    Do you have the money/financing to buy a new property before you close on your current home?

7.   If you need to sell before you can buy, is temporary housing a realistic option for you, your family, pets…until you can find the right home? Inventory is extremely low right now, it could take a while.

8.    Are you willing and able to make some compromises/trade-offs?

9.      Do you have a realistic understanding of the current market and will you listen to feedback? 

10.   Are you ready to detach yourself from the memories you made in the house?
Selling your home is a lot of work and can certainly be stressful. Making sure you are qualified/ready, willing and able will make the process easier and result in a better outcome for everyone involved!

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Marilyn Messenger is a licensed real estate broker, Certified Residential Specialist, Accredited Buyer Representative, and Certified Luxury Homes Marketing Specialist/Million Dollar Guild Member associated with Andrew Mitchell and Company, Concord. With 25+ years of experience in Concord, Sudbury, Wayland, Maynard, Stow and the towns west of Boston, Marilyn will make the selling and/or buying process efficient and cost effective for you. Visit http://www.MarilynMessenger.com for more.

Down-Payment Gifts Save Taxes!

What could be a better gift than tax-free help with a down-payment on a home?

Parents, grandparents, aunts and uncles, and even friends can start to pass along/gifting their estates while reducing inheritance taxes and getting to see their family enjoy the benefits of their gift

Under current IRS guidelines (please consult your accountant for tax advice and ramifications) each parent or relative can give up to $15,000 to each child or relative every year. That would mean that a mother and father can each give $15,000 a year to each son, daughter, and/or grandchild that would amount to $30,000 a year in total per couple for each person that you gift. 

If both sets of parents want to help with the down-payment on a house; each of the parents can give each borrower a gift of $15,000 per year. That would add up to $60,000 for both of you! That is a significant amount of tax-free money to help you buy a home for your family! Of course, a gift can also be less than $15,000, so give what you can.

That amount is per calendar year and not based on every twelve months. That would mean that they could give $60,000 (or more) in December 2019 and an additional $60,000 (or more) in January

2020. With less than one-month left , this is the time to bring up the subject with your family. What could make them happier than helping you buy a house and saving money on taxes?

For most types of mortgage loans, you will need to have 5% of the amount of the down-payment on your own, however, there are exceptions. To find out the exceptions and details about how gift money can be applied to your down-payment contact a reputable mortgage broker. 

More about tax-free gifts and life-time limits: https://smartasset.com/retirement/gift-tax-limits  

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About the author: Marilyn Messenger, a licensed real estate broker, Certified Residential Specialist, and Accredited Buyer Representative, and Certified Luxury Homes Marketing Specialist is  associated with Andrew Mitchell and Company in Concord has been representing home buyers and sellers in Wayland, Sudbury, Maynard, Stow, and Concord MA since 1993. www.MarilynMessenger.com for more. Visit www.marilynmessenger.com to see homes for sale, get the latest real estate market reports, and learn about having your own buyer agent on your side. 

Are You Qualified to Sell [Your House]?

Are You Qualified to Sell?

Most people think that being qualified is for home buyers and that it means being pre-approved for a mortgage. Being qualified is not just for buyers, sellers also need to be qualified! 

Sure, anyone who owns a property can sell it (assuming there are no legal restrictions) but owning a property does not make for a “qualified” seller. In real estate, the definition of qualified is “ready, willing, and able.” Buyers and sellers both need to be ready, willing, and able; that means financially, logistically and emotionally. 

Here are some questions to answer to determine if you are qualified to sell:

1.   Do you have enough equity in your house to cover closing and moving costs or else have enough cash to bring to the closing table? 

2.   Are you and everyone involved committed to selling? Do your spouse and/or children want to move? Do you have adult children who have their own ideas about the house and what you should be doing? 

3.    Is your house ready to go on the market? Has it been de-cluttered with everything in working condition, fixed or replaced, fresh paint, refinished floors, lighting, landscaping, etc., with updates that will appeal to today’s buyers?

4.   If you plan to sell “as is” and are you willing to reflect that in your list price?

5.   Do you have a place to go when you sell? 

6.    Do you have the money/financing to buy a new property before you close on your current home?

7.   If you need to sell before you can buy, is temporary housing a realistic option for you, your family, pets…until you can find the right home? Inventory is really tight right now, it could take a while.

8.    Are you willing and able to make some compromises/trade-offs?

9.      Do you have a realistic understanding of the current market and will you listen to feedback? 

10.   Are you ready to detach yourself from the memories you made in the house?

Selling your home is a lot of work and can certainly be stressful. Making sure you are qualified/ready, willing and able will make the process easier and result in a better outcome for everyone involved!

----------------------------------------------
Marilyn Messenger is a licensed real estate broker, Certified Residential Specialist, and Certified

Luxury Homes Marketing specialist associated with Andrew Mitchell and Company. With 24+ years of experience in Concord, Sudbury, Wayland, Maynard, Stow and the towns west of Boston, Marilyn will make the selling and/or buying process efficient and cost effective for you. Visit http://www.MarilynMessenger.com for more.

Sold in Sudbury

Sold in Concord

Deer Hedge Run Maynard

Happy Sellers! This Could Be You!

   

Sudbury Real Estate: Luxury Homes Still Selling

Clients' New Home - Sudbury $1,080,000

Lots of happy luxury home buyers and sellers in Sudbury this year. Year-to-date through 7/15, were 14 closed sales for over $1,000,000. Overall, there were a total of 105 single-family houses sold in Sudbury; the median sale price was $686,000 and the average was $718,551. There were 123 sold during the same period in 2013; the median sale price was $680,000 and the average was $714,937.

Currently, there are eleven luxury properties with sales pending and  with an accepted offer waiting for contingencies to clear. There were 19 luxury homes sold during the same period last year.

Homes for Sale in Sudbury: There are currently 71 single-family homes for sale in Sudbury with prices ranging from $315,000 to $3,295,000. The price range with the most opportunities continues to be luxury homes that are priced from $1,000,000 to $1,499,999 - there are 17 currently for sale.

Summer is a great time to buy a home in Sudbury and if you act quickly, you can still move into your new house in time for the start of the school year. Click here to see houses for sale in Sudbury and other towns in Middlesex County. If you are thinking about selling your house in Sudbury, it’s never too soon to start planning your move – click to request a homeevaluation or call 508-596-3501 to talk with your Sudbury area specialist. 

Happy Home Owners in Sudbury!

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About the author: Marilyn Messenger has been representing home buyers and seller in Sudbury, Wayland, Maynard, Stow, and the towns west of Boston since 1993. She is a Certified Residential Specialist (CRS), an Accredited Buyer Representative (ABR), and a licensed real estate broker associated with Andrew Mitchell and Company in Concord. She is the top recommended broker on Trulia in Sudbury, Wayland, Stow, and Maynard. She has the skills and experience to achieve her clients' goals. You can reach Marilyn at 508-596-3501 or visit www.marilynmessenger.com to learn more.