Articles from Mair Law Offices

You have completed the financial analysis of your home sale (see September 20, 2017 Blog) and decided to move forward with selling. What’s next?

Should you retain a real estate agent or sell the house on your own? Most people hire an agent and for good reason – they are the experts at home selling. You should always check references before selecting an agent. Your agent should be experienced, attentive and familiar with the area.

A good agent can save time, trouble and even money (though the commission paid to the agent is typically 5% of the purchase price). Listing the house at the right price is essential and your agent should know the market. A house with a listing price that is too high will take longer to sell resulting in months of extra carrying costs which will cut into your net proceeds. Potential buyers will know how long the house is on the market and how the listing price has been adjusted over time.

Once you list the house for sale, it’s time to contact an attorney. Your attorney can provide valuable advice negotiating terms of the offer. In Massachusetts, the seller’s attorney usually prepares the Purchase and Sale Agreement. You should also look for your title insurance policy which can be helpful if unanticipated title issues are discovered. The best place to check is with the paperwork from when you acquired the house.

Now that you have listed your house, you will hopefully have potential buyers visiting. You want be sure to present your house in the best possible way. Cleaning and removing clutter and extra furniture that may make the rooms look small are a great way to start. Consider painting, landscaping improvements (that first impression is important) and small inexpensive improvement projects that will make your house more appealing – even if you can’t recapture the entire cost. You may also want to consider major repairs. If a buyer is going to terminate or require a repair after the home inspection, why not address the problem now and make a better impression?

As soon as you are thinking about selling, start taking pictures when your house looks its best – when the landscaping is in full bloom and the grass is green, after a snowstorm, when rooms are clean and orderly. Consider asking a friend that is a photographer or even hiring a professional. Everyone searches for houses on the internet and nice pictures make a great impression.

You receive an offer, possibly more than one. Should you counter? Take the highest offer? Considerations on whether to accept an offer, in addition to the price, include the strength of the buyer’s financing, timing and other contingencies contained in the offer. Almost all offers are contingent on a home inspection. Some offers are contingent on the sale of the buyer’s house.

Retaining a good attorney can help make the entire process from offer to closing go smoothly. If you’re interested in reading about other legal or real estate related topics or have questions that you can’t find answers to just let me know! You’re also invited to schedule a free consultation. You can also email me at glen@gmairlaw.com or call me at (508) 250-0797.

This article is intended to inform you of developments in the law and to provide information of general interest. It is not intended to constitute legal advice regarding a client’s specific legal issues and should not be relied upon as such. This article may be considered advertising under the rules of the Massachusetts Supreme Judicial Court.