Short Sale Tips and Tricks

In this market, short sales can sometimes be a good deal for a buyer but they also come with some potential pitfalls. A short sale is when a seller needs to sell their home for less than they owe on their mortgage. In order to get a bargain and not a headache you will need to do your homework. Here are some tips for protecting yourself before buying a short sale.

1. Use experts

It is important that before you buy a short sale you assemble a team of experts. During the initial phase you will need help identifying which homes are being offered as short sales. The nature of short sales are different, you will also need help determining a purchase price and what to include in your offer.

A real estate attorney who is knowledgeable in short sales is also key. Navigating the process of a short sale can be tricky so you will need an experienced short sale attorney to help deal with the potential of multiple liens, mechanic’s and condominium liens, or homeowners association liens. Often homes that are in short sale have these issues and without help will be harder to purchase.

2. Prepare emotionally

If you want a good deal on a short sale you will probably have to be in it for the long haul. It is important to stay patient, and remain unemotional during what can sometimes be a lengthy and emotionally difficult process. You may even want to consider a title search upfront. This could weed out properties with multiple liens if you are under a time crunch.

3. Know the market

In order to successfully purchase a short sale you need to know the marketplace. When a lender agrees to a short sale, they are agreeing to losing money on the loan they made to purchase the home. A short sale can be a good deal but it usually not a steal. The lender also knows the fair market value of the home and wants to minimize their losses. If your offer is too low, you chance it being rejected. During the process we will determine a price range that works with your budget and is hopefully one that the lender will accept.

4. Know the Process

The short sale process is different than that of a standard sale. The agreement to sell the home for less than is owed is actually made between the seller and the lender, not the seller and the buyer. The seller must first gain approval from the lender before the sale can be finalized.

First, you would make an offer on a home and the sellers must consent to your offer to purchase. Then the sellers must submit the offer to their lender. The seller also sends along documentation to the bank as to why they need to sell the home for less than is owed. The seller should also have an attorney to help them with this process.

Lenders typically do not move quickly on this process. It can often take weeks or months to get an answer. This is why is often best to put a competitive offer first. If several lien holders are involved; each can make a counteroffer or just reject your offer.

5. Firm up your financing

Lenders don’t just look at the amount you are willing to pay for the home; they will also weigh your ability to close the transaction. If have a strong offer lenders will look more closely at your offer. You will want to make sure you are pre-approved for a mortgage for any consideration. Other factors that could influence the decision in a positive way are: having a large down payment, ability to close at any time, and flexibility. They will often not consider your offer if you have a contingency.

Open house on 9/25/2016 at 9 Sibley Dr Bedford, MA 01730


Date: 09/25/2016 Time: 12:30 PM to 2:00 PM  
For Directions: feel free to contact me.  
For more information: click here for the full details  

OH 9/25..12:30-2 PM…Upon arrival at the end of the cul de sac, you will experience a breathtaking majestic home, regally sited on a rambling knoll…Located in sought after “Lexington Park”, on the Lexington Line. The professional design and unique landscaping create a perfect blend to enhance the property…An attractive white fence and terraced landscaping complement the PRIVATE, LEVEL, REAR YARD..3,968 SF Liv.Sp.Enter sliding doors to a welcoming brick patio off kitchen..Lots of room for children’s play, gardening, entertaining..Walk-in pantry~Kit..Bosch SS appliances….GAS STOVE,DRYER, HEAT….Living Rm and Dining Rm front/back w/ a pillar divide..FIVE BEDROOMS…3rd Floor ideal for a nanny/teen retreat/inlaw/office w/full bath…1st Floor office; Additional 532 SF could be fin. in LL..Central Air, Underground Sprinkler..Walk~shopping & trans..EZ Commute Rte 128/95/2/3..The home you have been waiting for! Perfect for your upcoming holiday parties! A special price!

The Best Dollar Store Deals for Your Home

Many people are averse to shopping at the dollar store because they assume that the quality of the items there are inferior to those at other stores. Others simply assume that since many of the products aren’t recognized name brands that they aren’t good products. However, there are some dollar store deals that are always worth the dollar.

One issue that many people have in a dollar store is that they walk down the aisle filling their carts with impulse buys thinking, “It’s just a dollar.” But those dollars add up and you’ll find yourself buying things that you don’t really need or items you could find cheaper by buying in bulk elsewhere. In this article, we’ll cover some of the most useful items that you can find at your local dollar store.

Holiday and party supplies

Let’s face it, the kids don’t read their cards or observe their wrapping paper. They’re more concerned with what’s inside. When it comes to party prep, you can save a huge amount by buying everything at the dollar store. With the exception of paper products like napkins and paper towels, you’ll get more for your buck at the dollar store. Some items to look out for:

  • balloons
  • plastic cutlery
  • large tin food containers
  • cards
  • wrapping paper

Tool kit supplies

If you don’t feel like going outside to your shed every time you need to tighten a screw, or if you live in a small space and don’t want bulky tools laying around, making a small toolkit is the way to go. And the dollar store is the place to start. Buy a small, empty toolbox and fill it with items from the dollar store. Some useful items to include:

  • nails and screws
  • hooks and hangers
  • screwdrivers
  • pliers
  • adjustable wrench
  • tape measure
  • super glue
  • tape
  • a pair of work gloves

First aid items

Every home and every vehicle should have a first aid kit. However, good kits can be expensive and the items within them have expiration dates. Rather than spending a lot on a kit you (hopefully) never have to use, fill a small box or bag with first aid items from the dollar store. Some first aid essentials to put inside:

  • assorted band-aids
  • burn cream
  • medical tape
  • antibiotic ointment
  • support bandages
  • small scissors
  • gauze
  • antibacterial wet wipes
  • aspirin
  • hot or cold compress

Cleaning products

Not every cleaning product will be cheaper at the dollar store. And for products you use often it might make more sense to buy in bulk online or from a wholesale club. However, there are some cleaning items that you will almost always save on at the dollar store.

The key to saving on cleaning supplies from the dollar store is to buy generic brands. They often contain the same ingredients and are sometimes even made by the same manufacturer. Sometimes the only difference is that dollar store products may be diluted more.

Kitchen Utensils

Most dollar stores have a large kitchen section that includes useful items like various sized spoons and spatulas. You can also find other kitchen essentials like sponges, dish scrubbers, sink stoppers and strainers, measuring cups and much more.

 

Open house on 9/18/2016 at 9 Sibley Dr Bedford, MA 01730


Date: 09/18/2016 Time: 12:30 PM to 2:00 PM  
For Directions: feel free to contact me.  
For more information: click here for the full details  

OH 9/17 & 9/18..12:30- 2pm..Nearing Completion…Upon arrival at the end of the cul de sac, you will experience a breathtaking majestic home, regally sited on a rambling knoll…Located in sought after “Lexington Park”, on the Lexington Line. The professional design and unique landscaping create a perfect blend to enhance the property…An attractive white fence and terraced landscaping complement the PRIVATE, LEVEL, REAR YARD…Enter French doors to a welcoming brick patio off kitchen..Lots of room for children’s play, gardening, entertaining..Walk-in pantry~Kit..Bosch SS appliances…Coffer ceilings~ Fam Rm.& Din Rm…Liv Rm and Din Rm frt/bk w/ a pillar divide..FIVE BEDROOMS …3rd Floor ideal for a nanny/teen retreat/inlaw/office w/full bath…1st Floor office; Additional 532 SF could be fin. in LL..GAS cooking and heat! Central Air, Undergrd Sprkler..Walk~shopping & trans..EZ Commute Rte 128/95/2/3..The home you have been waiting for! Perfect for your upcoming holiday parties!