Are you considering hiring an agent in Massachusetts and New Hampshire to help sell your home? This is typically one of the first things people do when they need to sell a property and with good reason. There are many talented agents out there who can help you sell your house. However, it is not your only option. Distressed sellers may have better luck with a direct sale. Our process has the potential to save you both time and money. Here’s what you need to know before signing any contracts to list or sell your property in Massachusetts and New Hampshire.
Potential Costs
Selling your house with an agent in Massachusetts and New Hampshire will cost you money both before and after the sale. Yes, selling a house with a real estate agent in Massachusetts and New Hampshire typically involves certain costs both before and after the sale. Here are some common expenses associated with selling a house with an agent:
- Pre-Sale Costs:
- Home Preparation: You may need to invest in repairs, renovations, or staging to make your property more appealing to potential buyers.
- Inspection and Appraisal: Buyers often request inspections and appraisals, which you may be responsible for arranging and paying for.
- Photography and Marketing: Professional photography, virtual tours, and marketing materials are common expenses to effectively promote your property.
- Agent Commission:
- Real Estate Agent Commission: In Massachusetts and New Hampshire, the standard practice is for the seller to pay a commission to both the listing agent (representing the seller) and the buyer’s agent. The commission is typically a percentage of the final sale price and is negotiable. The commission fees are usually split between the two agents involved.
- Closing Costs:
- Attorney Fees: It is common for sellers in Massachusetts and New Hampshire to hire a real estate attorney to handle the legal aspects of the transaction, and their fees are part of the closing costs.
- Title Search and Insurance: These costs are associated with verifying the property’s ownership history and protecting against any title issues.
- Recording and Transfer Taxes: Massachusetts imposes taxes on property transfers, which are typically paid by the seller.
- Other Closing Expenses: Depending on the specifics of the transaction, you may encounter additional costs such as courier fees, notary fees, or escrow fees.
Expected Time Until You Reach The Closing Table
When hiring an agent in Massachusetts and New Hampshire, there is no guarantee of reaching the closing table for a real estate transaction. While real estate agents can provide valuable assistance throughout the buying or selling process, several factors can affect the outcome, some of which are beyond an agent’s control. Here are a few reasons why a transaction might not reach the closing table:
- Financing issues: If the buyer’s loan application is denied or encounters significant delays, it can derail the transaction. Similarly, if the seller has liens or outstanding debts that complicate the sale, it may cause delays or even termination of the deal.
- Inspection or appraisal problems: During the inspection, significant issues may arise with the property that affect the buyer’s decision to proceed. Additionally, if the property does not appraise for the agreed-upon purchase price, it can create challenges in negotiating a resolution between the buyer and seller.
- Legal or title issues: Disputes over property ownership, boundary disputes, or other legal complications can emerge, potentially leading to a failed transaction.
- Contingency-related matters: Real estate contracts often include contingencies such as home inspections, financing, or the sale of the buyer’s current property. If these contingencies are not met within specified time frames, the deal may fall through.
- Unexpected events: External factors like natural disasters, changes in personal circumstances, or sudden financial issues can arise, causing one party to back out of the deal.
All Real Estate Agents Are Different
While many agents genuinely have your best interests at heart and strive to provide excellent service, others may prioritize closing deals and maximizing their own profits. While many agents genuinely prioritize their clients’ best interests and aim to provide excellent service, others may focus more on maximizing their own profits or closing as many deals as possible, sometimes at the expense of the client’s needs.
It’s important to be aware of this potential variation in the quality and intentions of agents. When engaging with real estate agents, it can be helpful to do some research beforehand, ask questions, and be cautious of any high-pressure tactics or misleading information. Taking the time to understand the product or service you’re interested in, comparing options, and seeking recommendations or reviews from trusted sources can also be beneficial.
By being vigilant, doing your research, and following these suggestions, you can increase your chances of finding a trustworthy agent who will prioritize your needs.
Check Your Contracts
Once you sign a listing agreement with a Massachusetts and New Hampshire real estate agent, you may be on the hook with them for more than you bargained. Did you know that in some cases, you will still have to pay your agent’s commission even if you sell the house yourself? It is important to thoroughly read and understand the listing agreement before signing. If you have any concerns or questions, don’t hesitate to ask the agent for clarification or seek legal advice. Remember, the terms of the agreement are legally binding, so it is crucial to be aware of your obligations and potential consequences before entering into the agreement.
There Are Other Ways to Sell Your House
Listing your house with a real estate agent is a common approach to selling a property, but it’s not the only option available. Working with a private buyer such as Deal Edge Properties that specializes in buying properties for cash offers a fast and hassle-free selling process can ensure you receive a great price and a fast closing. While you might not get the maximum market value for your home, it can be a convenient option if you’re looking for a quick sale. You can also get creative and consider options such as owner-financing in which you become the bank in essence, collecting a monthly income from the home. There are many solutions for home sellers in Massachusetts and New Hampshire, and Deal Edge Properties is happy to help you explore them all!
Hiring an agent in Massachusetts and New Hampshire? Before you do, it’s important to get the facts. At Deal Edge Properties, we can help you get all of the information you need so that you can make the best decision for your situation. We want to help you achieve the best result possible for your situation. Reach out to us today to learn more about what we can offer you! (978) 274-0555