This officially marks the first weekend of summer....Memorial Day weekend!!  After the long hard winter we had, and spring looking as though it would never come, we're happy to see that the first weekend of summer has officially arrived!  Memorial Day weekend is always so special for so many reasons.  

Most importantly,  for the many men and women who have fought so courageously through the years for this country and the freedom it represents. Sometimes in our busy lives we have a tendency to forget about how much sacrifice has really been made for the basic freedom that we enjoy in our everyday lives. So this year, really make an effort to remember and honor all the family, friends and military veterans- then and now- who have done so much for our country.  

If you would like to participate in area Memorial Day events, here are some of the events from the city of Boston:

1. Massachusetts Military Heroes Garden of Flags

2. 68th Annual Memorial Day Services at Veterans Memorial Park

3. Honor & Tribute:  A Memorial Day Concert on Boston's Waterfront

4. Faneuil Hall Marketplace will have a variety of Street Performers & Events for Memorial Day

Have a safe & happy Memorial Day Weekend!

Just as in any type of sales job, a home is never truly bought, or sold, until the money has changed hands and the keys have been given. You may have received an offer on your Wellesley or Metrowest Boston MA home, and are fairly certain that the buyer possesses all the right credentials to allow the sale to go through smoothly, but there are still steps that you need to go through before the sale is final.

One of those critical steps is the....HOME INSPECTION of your Wellesley or Metrowest Boston MA home. Now, unless your home is flawless, of which most are not, you will be in for some negotiations with the buyer. The best way to handle these types of negotiations is to have the best Real Estate Team on your side. The Team who would have suggested that you had an inspection of your Wellesley home prior to the home being put on the market so that you could have taken care of these issues on the front end. However, if that wasn't the case here are my suggestions:

First, you need to be realistic and understand that every home is going to have some issue(s) that need to be fixed. So don't get stressed out, get in "fix it" mode and take care of what needs to be done.

As realtors,  We hate to see a buyer use the Home Inspection as a means to "renegotiate" the contract. Don't get me wrong, for the most part when a buyer is asking for a negotiation on something it is justified- damage on a roof, plumbing, foundation, etc. A Home Inspection is meant to protect the buyer against "major" problems, not to nitpick and try to get a seller to virtually give you a brand new home. Sellers, you need to rely on your Real Estate Team for advice!

Inspection Credits versus Repairs

After the inspection is completed on your Wellesley or Metrowest Boston MA home, and there are legitimate repairs that need to be completed, try to push for a closing cost credit or a price reduction. This would be the easiest for you, the Seller to do. Besides, you don't want to be in the position of having to do repairs and having the Buyer not satisfied with the repairs that are done and having to redo them or losing the sale!

Negotiating the Home Inspection Problems

Remember, you are not obligated to repair your Wellesley or Metrowest Boston MA home before you sell it, but you MUST be up front and honest with the Buyer. One of the difficulties in going through the inspection process and then losing a buyer is now knowing EXACTLY what was found needing to be repaired and disclosing it to another potential buyer.   In this case, you must now learn the art of "haggling".  Nothing new, but you'll need to look at the list of repairs and decide which you are willing to make and which you aren't,  and negotiate it with the buyer in a way that will allow you to spend less money....but NOT LOSE YOUR BUYER!

The bottom line is to be prepared up front. Work with a professional Real Estate Team who knows what needs to be done up front to avoid the pitfalls of the Home Inspection process. Once you've found that Team, put your trust in them and listen & adhere to their advice.

For more tips on Selling and Buying homes in the Wellesley & Metrowest Boston MA  area please visit our website at www.teamlynchrealestate.com, or give us a call. We know the Metrowest Boston area well after living and working here for the majority of our lives and can answer all your questions or help you get your home ready to be put on the market.

"You want to list my Wellesley MA Home for what?!!"

 Have you ever heard that exclamation before?  I'm sure you have at some point, and unfortunately it does happen.  But why does it happen?  The answer is simple, but more difficult to accept.  This is why it is so important that you hire an experienced Wellesley real estate agent to advise & guide you in the selling of your Wellesley home.  When you list your  home For Sale, your agent will know the market conditions and how to correctly identify the "listing price" for your home.  He or she will not have the emotional attachment to your home that you do, and  and therefore will be able to be an unbiased judge of the homes value and worth in today's housing market.  While you may not like the price you are hearing, have faith in the person you chose to represent you & your home.  When you overprice your home it will be dangerous for several reasons, but the biggest (and simplest) is...IT WON'T SELL!

In addition to not selling when you've overpriced it, you've really stacked the deck against you from day one. Selling your home can be an emotional roller coaster.  What your home means to you and how you imagine it, needs to come to terms with the real world and the current real estate market.....and that is no more apparent than in pricing.   Everything you are doing at this point is looking at the home to "list" and sell.  That may seem apparent, but it's much harder than it looks. You must take the emotional strings out of the way. You may cherish the color, flooring, or some other "prized possession", but none of that matters, it's simply black and white.  You are looking at it objectively just to list and sell.                                                                                                                                                           

Just "because you paid a certain amount for your home", or because "it means so much to you", is a sure fire way to stall the successful sale of your property.  Buyers also aren't going to care if you "need to get a certain amount for your home in order to buy your new home".  All the new buyer cares about is paying a fair market value for your home and that there aren't any hidden surprises that are going to come up later in the home inspections. Nothing will blow up in your face quicker than an OVERPRICED PROPERTY!  

You are free to list your home for any price you choose. However, any exceptional real estate agent will tell you that overpricing a home can lead to serious problems. Some of these include:

1. *Scare off Buyers- You don't want to miss out on an ideal buyer by pricing yourself out of their category. Rely on the expertise of your Real Estate agent and their knowledge of the local market so that you can maximize your exposure on the market and with buyers while still getting the best price for your home.
2. * Too much Time on The Market- When a home is priced too high it ends up spending far too much time on the market.  If a buyer decides to put an offer in on the property that offer takes into consideration the amount of time the property has been sitting idle on the market.  Therefore it has a negative effect on the property.
3. * Home Price Appraisal Issues- If you have overpriced your home, and a buyer has agreed to pay the "overpriced" price, you still have to pass the Home Appraisal. If the Home Appraiser comes back with a Market Value that is noticeably lower than the price the buyer is offering, the bank is likely to deny the buyer a mortgage.  Leaving you looking for new buyers.

Best advice....Stay realistic on the home pricing.  Seek out a great real estate agent and listen to his or her advice for pricing your home.  Many good agents will advise you to list a little lower and encourage a bidding war, than to risk all of the problems that would come with listing too high.  Stay realistic with your pricing and you will achieve your ultimate goal of selling your home;  in the shortest amount of time AND with the best possible price.