The goal of every home seller is to find a suitable buyer who wants to close a deal under the shortest possible timeline. A quick sale is ideal, but real estate transactions can be complicated, such as when a homeowner agrees to sell their home contingent on them buying a new home to move into.
After scoping out a few houses, you’ve settled on the one you want to call your own. Under the current market conditions, it’s safe to assume a bidding war is likely, especially in Massachusetts.
To get a better idea of how scarce the market it is now, consider that single-family home sales in Boston dropped almost 10 percent compared to sales from the year before.
In the world of real estate, some home listings are classified as for-sale-by-owner (FSBO), in which the homeowner handles all of the duties of an agent and/or lawyer. Unfortunately, there are several risks involved for both sellers and buyers who engage in FSBO transactions.
If you’re considering either side of this equation, take note of the following pitfalls associated with these deals.
Proof that Boston’s Real Estate market is front and center on the world stage, foreign investors have been buying units in the renowned Millennium Tower two or three at a time. Investors from Greece, China, and the Middle East have been buying high end units in the iconic Boston building since they’ve become available. (more…)