• The value of you home relates to the local prices.  The same home, located elsewhere would likely have a different value.
• Sale prices are a product of supply and demand.  If you live in a community with an expanding job base, a growing population and a limited housing supply, it’s likely that prices will rise.  Alternatively, it’s important to be realistic.  If the local community is losing jobs and people are moving out of the area, then you will likely have a Buyers’ market and your sale price will have to reflect that.
• Owner needs can impact sales values.  If owner Smith “MUST” sell quickly, he will have less leverage in the marketplace.  Buyers may think that Smith is willing to trade a quick closing for a lower price – and they may be right.  If Smith has no incentive to sell quickly, he or she may have more marketplace strength.
• Your Sale Price is NOT the whole deal.  Which would you rather have:  A Sale Price of $300,000, or a Sale Price of $310,000 BUT where you agree to make a “Seller Contribution” of $5,000 to offset the Buyer’s closing costs, pay a $2,000 allowance for roof repairs, fund two mortgage points, re-paint the entire house and leave the washer and dryer?  These are just several of the factors you may have to negotiate.        

     STEP 4 – MARKETING YOUR MASSACHUSETTS HOME 

If you bought a car, you could purchase a given model with selected features from any dealer. Since the car comes from one assembly plant, it's going to be the same whether purchased from dealer Smith or dealer Jones.  

Homes are different. Each is unique, the marketplace is always in flux, interest rates constantly change and new buyers search for homes each day. With such fluidity, it requires your Heidi Churchill Real Estate professional to craft marketing plans specifically for individual homes and market conditions.

Selling can entail a variety of marketing strategies. Once listed, it's likely that the home will be quickly entered into the local MLS (Multiple Listing Service) along with your posting on our proprietary Heidi Churchill Real Estate web site. Additional exposure includes several other popular real estate web sites, including REALTOR.com®. Open houses and networking with both local and out-of-town brokers are also common marketing strategies.

Much of a broker's work will be quiet and unseen -- yet important. The quiet telephone calls, the work with contacts, the follow-ups with open-house visitors, conversations with ad respondents, the web postings and other outreach efforts are all part of the process required to sell homes.

Your Heidi Churchill Real Estate professional will their marketing efforts on previous transactions and ongoing research. For instance, according to the National Association of Realtors (NAR), 37 percent of all buyers check the Internet. NAR numbers also show that most households move within 10 miles of their current location while 20 percent move at least 50 miles.

A VERY IMPORTANT FACT TO CONSIDER:

Would you want complete strangers walking through your home without any representation?  Many Brokers set up the showing of their listings through third party companies, lock boxes or simply through their office secretary, without ACCOMPANYING the showing!

We guarantee that your Heidi Churchill Real Estate representative will be at your home for every showing. 

STEP 5 – SELLING YOUR MASSACHUSETTS HOME

There is no question that selling a home is an important event. A home sale represents transition, movement and change. Big money is involved. Households move from the known and comfortable to the unknown and a period of adjustment. There may be job changes, new schools, distance from old friends and the possibility of new ones.

No less important, a home sale by itself can be complex. There will be people looking at your house, documents to sign and issues to be negotiated.

Because a home sale involves an array of both personal and business concerns, it's important to get it done right. You need to carefully prepare your home, understand the market and see what alternatives are realistically available. The old motto "be prepared" is a good guide in such circumstances.

What’s an Acceptable Offer?

The goal of every seller is to have a line of buyers outside the front door, each clutching higher and higher offers. And while this has been known to happen, in most markets there is some balance between the number of buyers and sellers. A number of factors determine whether a buyer's offer is acceptable. They include:

• Is the offer at or near the asking price?
• Is the offer above the asking price?
• Has the buyer accepted the asking price or something close?
• Has the buyer then buried thousands of dollars in discounts and seller costs within tiny clauses and contract additions?
• What is the alternative to the buyer's offer?

If a home has not attracted an offer in months, then sellers need to determine if a better deal is possible -- recognizing that each month, costs are being incurred for mortgage payments, taxes and insurance.

• Does the owner have enough time to wait for other offers?
• What if no other offers are received?
• What if several offers are received? Do you choose the high offer from the purchaser with questionable finances who may not be able to close, or a somewhat lesser offer from a buyer with preapproved financing?

In each case, owners -- with assistance from your Heidi Churchill Real Estate professional -- will need to carefully review offers, consider marketplace options and then determine whether an offer is acceptable.

STEP 6 – THE CLOSING

It might seem as though once a sale agreement has been signed that the selling process is complete. Not only is it not over yet, but some of the most complex aspects of a real estate transaction now begin.

A sale agreement sets not only a purchase price for the home, but also a series of terms and conditions. For instance:

• Contracts routinely depend on the ability of a buyer to obtain financing, which is why most sellers prefer buyers with preapproval letters from lenders.
• A growing percentage of transactions involve a home inspection, or a physical review of the home by a trained and independent observer.
• Lenders will establish numerous conditions before granting a loan. They will want a title exam, title insurance to protect against title errors, termite inspections, surveys and an appraisal to assure that the home has sufficient value to secure the loan.

Your Heidi Churchill Real Estate professional will arrange all required inspections and help you to prepare for closing.

When Should You Close?

With automation now available, closings can occur within a week in some areas -- at least in theory. In practice, it takes time to arrange financing, conduct inspections, obtain appraisals, locate replacement housing, contact movers, pack and actually move.

While instant closings are not practical, neither are closings too far in the future. The problem with closings much past 60 days is that loan rates are difficult to lock in. If mortgage rates go up, it's possible that the buyer will no longer be able to afford the home and thus the deal may fall through.

The result of these considerations is that most homes close 30 to 45 days after a sale agreement has been signed.

STEP 7 – HOW DO YOU PLAN A MOVE?

The time to plan your move begins once you've decided to sell your home. Some of the activities required to sell the home can actually help with the moving process. For example, cleaning out closets, basements and attics means there will be less to do once the home is under contract.

Your planning will be guided by a number of things:

• Are you moving a long distance? If yes, you'll likely require an interstate mover and the use of a large van.
• Moving internationally? Contact the embassy in Washington, D.C., for information. Be aware that items which may be entirely common in the United States can be prohibited in foreign countries. Ask about customs protocols, duties and taxes.
• Moving locally? If yes, will you move yourself? You'll need to consider packing boxes, peanuts, blankets or padding and a van rental. Your Heidi Churchill Real Estate professional can make recommendations and referrals when needed.

Planning is key. Stock up on boxes, packing materials, tape and markers. Always mark boxes so that movers will know where goods should be placed.