Suzie Ice's Blog
If you’ve never sold a home, you might not understand the complexities of what your agent provides for you. You could be tempted to sell your home on your own. After all, with the availability of the Internet, how hard could it be?
According to most research, FSBO (For Sale by Owner) nets a lower selling price than selling through a professional marketing agent. Even accounting for the commission paid to the agent, the profit to the homeowner is higher.
Some sellers believe that all an agent does it show the home a few times a week. Anyone can do that, right? But a great agent provides much more. Top agents offer a marketing strategy, professional staging, excellent photography, listing on the MLS and access to their network of buyer's agents.
When you interview your agent, ask them what their plan is. How do they specifically intend to market your property? Who will they invite to the open house? Will they offer a unique open house just for their network of seller's agents?
The greatest challenge to FSBO is how to price your home effectively. Yes, you can see what’s out there on Zillow and Trulia, but your agent has been in dozens of homes. They've spoken to hundreds of buyers. The single most damage you can do to a home sale is to price it wrong for the market and then have it languishing, unsold, for months.
Unless you've sold a home recently, you may not know all the paperwork involved in making the sale. You have the offer, counteroffers and the acceptance letter. Then there's the negotiation over items that come up in the inspection. If the buyer wants a warranty, do you know where to go for that? What if the buyer wants a contingency? Do you know how to write that up so that you're not left holding the bag? Do you have a relationship with a title office or escrow officer? Your agents' broker does.
When you add up all the work they do, and the expertise they offer, you'll see that your agent is worth the commission. If you follow their advice, you can be off on your next venture, and they'll take care of the sale for you.
More Info on this Property | New Listing Alerts
65 Paulding Road, Ludlow, MA 01056
65 Paulding Road, Ludlow, MA 01056
When it comes to financing your home, you have a several mortgage options available. Each type of mortgage offers different advantages, so be sure to do research before applying. Below are some of the most popular types of mortgages borrowers may consider.
A conventional loan is a mortgage not insured by the federal government. In most cases, conventional loans will conform to the standards established by Fannie Mae and Freddie Mac. However, some lenders may offer loans that do not adhere to these standards, which are known as non-conforming loans. In most cases, conventional loans will require a down payment of 20 percent. Otherwise, you will have to pay mortgage insurance.
FHA mortgages are a popular type of government-backed loan that is designed to give people with lower credit scores and/or lower buying power the ability to purchase a home. If you opt for an FHA mortgage, you may not need to make as large of a down payment, but you will need to pay mortgage insurance. Backed by the Federal Housing Administration, these loans are popular among first-time homebuyers.
VA mortgages are home loans backed by the U.S. Department of Veterans Affairs. These loans are available to current members of the military as well as veterans. If you qualify, VA mortgages are very beneficial, as they offer a lower interest rate and may not require a down payment. VA mortgages don’t require you to pay any mortgage insurance, either.
A jumbo mortgage is a loan that has limits higher than most other mortgages, which allows you to buy a more expensive property. These loans are most popular in areas where home prices are higher. Interest rates on jumbo mortgages are usually comparable to the rates paid on a conventional loan. However, the qualification requirements are much more strict. In most cases, you will need to show proof of significant assets, as well as a high credit score. Some lenders may offer other options, but the mortgages above are the most common.
Keep in mind that even after you have chosen the type of mortgage you want, you will still have other decisions to make with regard to the type of rate and the length of the term. To make the best decision for your needs, consider working one-on-one with an experienced mortgage agent who can review your situation and help you choose the loan that makes the most sense.