Frequently Asked Questions

Realtors get A LOT of questions - here we share recent questions our clients have asked, and answers that we hope will help you reach your real estate goals.

 

Got questions of your own? Just get in touch and we can talk! 

Is it a good idea to have a home inspection before putting my house on the market?

Like many things in life, it depends. Are you in the financial position to repair every little thing that's discovered? More importantly, a pre-listing inspection may reveal a significant defect you'll be required to disclose to potential buyers and affect your sale price.

 

A good rule of thumb for getting a home listing-ready? Focus on servicing larger-ticket items like furnaces, boilers, and air-conditioning/HVAC units before putting your home on the market, which will allow you to show a potential buyer the systems are in good working order, regardless of the age. 

When selling your home, the best first step is talking with a realtor, so why not give me a call at 781-704-3193 to discuss your specific situation and develop an action plan?

Should I sell my current home before

buying a new one? 

Selling & buying simultaneously can be tricky, but it is definitely possible with the right team in place.

 

First, you need to talk to your lender to see if you are in a financial position to buy first and then sell your home after you move into the new one. The lender will need to qualify you to carry 2 mortgages at the same time. It doesn't mean you have to wait for the new home to close to sell the existing one, but it gives you the option to sell at your leisure.

 

If you cannot financially carry 2 mortgages, then you have a couple of options to buy/sell at the same time. You can try and buy first, with what is called a "Subject to Sell" contingency clause in your offer. This means that your Offer to Purchase on the new home is "subject to selling" your existing home. If you cannot sell your home in the timeline determined in the contract, then your purchase is null and void.

 

Your other option is to list your home for sale with a caveat that your sale is "Subject to the Seller Finding Suitable Housing". This means that if a buyer wants to buy your home, they need to wait a pre-determined amount of time for you to find a new home to purchase. If you cannot find a home in that timeline, then the buyer has the right to walk away from the sale.

 

Both of these options are available but please keep in mind that the chances of their success is heavily dependent upon the state of the market at the time you are making your decision. You should always reach out to a professional realtor to discuss the best options for your individual situation. 

What COVID precautions are sellers taking

at Open Houses?

At my open houses, I am working with the Sellers to ensure maximum safety, both for the homeowner and the open house attendees.

 

I am collecting contact information for all attendees should we need to contact anyone after the fact.

 

Everyone must use hand sanitizer upon entry as well as wear a face mask.

 

Lysol wipes are used as a barrier to open closets, cabinets, and hand rails.

 

Depending on the size of the property, no more than 2 or 3 parties in total in the house at any time, and make sure the attendees are spread out throughout the house/not sharing the same rooms at the same time.

 

Lastly, when possible, have all attendees use a "one way" system - so everyone is coming in the front door and out a back or side door to ensure a smooth flow of traffic.

I also offer virutal tours, and I'm always happy to arrange a private showing that respects the privacy & safety of all parties - at any property.

How much of a down payment do we need to buy a home? We don't have 20% - does this limit our buying power?

 

Many home buyers believe that they won't qualify to buy a home if they don't have a 20% down payment. In reality, the average first-time homebuyer puts down just 6%.  As a buyer agent, I connect homebuyers to lenders offering loans that require as little as 3% down & sometimes zero down. My goal for you is to become a homeowner on your terms. If that means you can get approved for a house with a smaller down payment and become a homeowner sooner, that's often the right choice.

 

Have more questions? Contact me to discuss your options.

 

Real Estate ABCs

Jennifer M. Keenan
Realtor(R)

call or text (781) 704-3193   
email Jen@4SquaresRE.com   
follow @4SquaresRE and @MedfordLifestyle

​MA Real Estate Sales License #009513152 | Keller Williams Real Estate Brokerage License #7210

​NOTICE TO PROSPECTIVE HOME BUYERS:  All Brokers/Salespersons represent the seller, not the buyer, in the marketing, negotiating and sale of property, unless otherwise disclosed.  However, the Broker or Salesperson has an ethical and legal obligation to show honesty and fairness to the buyer in all transactions.  Regulation 254 of the code of Massachusetts Regulations selection 2.05 (15). Except as otherwise noted, specifications with regard to the property described above were provided solely by the seller(s) without verification thereof by the broker 9s) and, therefore, broker(s) accept no responsibility for the accuracy thereof.  Offering is subject to prior sale, price change, or withdrawal without notice.

​Copyright(C) Jennifer M. Keenan/dba 4Squares Real Estate

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