Blog :: 2021

Common Fears of Homeownership & How to Overcome Them

For many people, all of the responsibilities that come with homeownership can be scary and intimidating. From the stress of finding the perfect home and figuring out all your finances, to closing and then dealing with all the responsibilities that come after the close, there is a lot to consider. While it may seem like an overwhelming and scary process, it doesn’t have to be! Follow the tips below from a Waltham Real Estate Agent to put your mind at ease about being a homeowner! 

Financials

Buying a home is definitely a huge financial investment. For most people, buying a home will put you in a decent amount of debt. If you’re a first-time homebuyer, you probably either just finished paying off your student loans or are still working to pay them off. Because of this, it’s understandable that people are worried about making a big financial move, like buying a house. This is why most millennials are still renting instead of buying. However, this doesn’t have to be the case! Waltham Realtors suggest working with a financial advisor to help see and understand all of your financial options. 

Credit Score

Your credit score does play a big role in what type of mortgage loan you’ll be approved for. Most mortgage loans will require a score of at least 620. However, there are other types of mortgage loans that will be flexible with lower credit scores. If you’re looking to boost your credit score focus on these tips from a Waltham Real Estate Agent:
 

  • Practice good financial habits
  • Pay all your bills on time
  • Keep your credit balance low
  • Limit the number of credit cards you have/how often you apply for a new one. 

By following these tips, you’ll be able to boost your credit score and put your mind at ease about applying for a mortgage!

Not Budgeting Enough For All the Extra Fees

When buying a home, there’s definitely a lot of fees that come with it. It’s important to be aware of all the extra fees at the beginning of the process so that there are no surprises. Some of these fees include closing costs, property taxes, down payments, etc. They certainly add up. 

The best way to make sure you’re budgeting correctly for all these fees is to sit down with a Waltham Real Estate Agent and discuss the fees upfront. It’s important to be aware of everything you’ll be expected to pay. You can eliminate this stress by setting aside the money for the fees right away when starting the search for your new home. 

You’ll Get Outbid

Finding your dream home that accommodates all your needs can definitely be a challenge. Plus, what if you finally find your dream home, and then all of a sudden you get outbid?! This is a very real fear to have. The best way to go about this fear is to once again work closely with your Waltham Real Estate Agent. A Waltham Realtor will be able to help you put together the perfect offer to get your dream home before others swoop in. Your Waltham Real Estate Agent will also take care of all the paperwork, negotiating, etc. so you won’t have to worry about any of that stuff.

Contact A Waltham Realtor

Let a Waltham Real Estate Agent help you overcome these fears! If you’re ready to buy your first Waltham homecontact Hans Brings. Hans has years of experience getting his clients their dream homes for fair prices. Give Hans a call today! 617-968-0022

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    Commonly Asked Questions About Mortgage Approval

     

    Getting a mortgage loan is the first step for Waltham first-time home buyers. Obtaining a mortgage can be an intimidating process. However, with a little knowledge about the process, you’ll know exactly what to expect and how to go about it. With that in mind, a Waltham Real Estate Agent has answered 6 of the most commonly asked questions about mortgage approval! 

    1. Do I need great credit to get a mortgage?

    In order to get a mortgage loan, you don’t necessarily need amazing credit, however, it does help. It’s possible to get a conventional mortgage loan for your Waltham Real Estate with a credit score as low as 620. There are also some mortgage options if your credit score is even lower than that. However, the one thing to keep in mind is that the lower your credit score, the higher your interest rate will be. 
     

    2.  What documentation do I need to get a mortgage? 

    The documentation that you’ll need to obtain a mortgage will vary from buyer to buyer. However, for the most part the required documentation will be fairly similar for most people. The main documentation that is required for a mortgage loan is a social security card, a month of pay stubs, and 2 years of w-2 statements. 

    Other documents that may be requested by a mortgage lender includes:
     

    • Bank statements
    • Asset statements
    • Driver's license

     

    3. What is the difference between a pre-qualification & a pre-approval?

    A mistake that home buyers often make is not getting pre-approved. Many home buyers think that pre-qualified is the same as pre-approved, however, that is definitely not the case. 

    A pre-qualified mortgage is essentially an estimation of how much the Waltham home buyer may be able to borrow. It is not yet approved by the lender. A pre-approved mortgage is essentially a written commitment for a buyer from the lender, that is indeed approved. 

    A pre-approval is what every Waltham home buyer should have before looking at homes. It’s important to have a pre-approved mortgage loan as it can help buyers beat out the competition and give peace of mind to the seller.
     

    4. What type of mortgage is best for me?

    One of the most frequently asked questions Waltham Realtors get regarding mortgages is what type of mortgage is best. There are many different types of mortgages available, so it’s important to know which type is best for you. 4 of the most popular mortgages are:
     

    • FHA Mortgages
    • Conventional Mortgages
    • VA Mortgages
    • USDA Mortgage

    When working with your Waltham Real Estate Agent, ask them which type might be best for you. Waltham Realtors will be able to easily help you with this decision and point you towards the mortgage path to success! 
     

    5. How long does it take to get a mortgage?

    The amount of time it takes for a mortgage to get approved and financed will be different for each lender. When searching for mortgage lenders, it’s important to have a ballpark idea of how long each lender takes to close their loans. A top lender should be able to get the loan approved and financed within 30-45 days. 

    However, it’s important to understand that certain factors can delay the approval process. During the process, make sure to keep in touch often with your lender and make sure you get requested documents to them as quickly as possible. If the buyer is not on top of things, that could surely delay the process. 
     

    6. Should I get a 15-year or 30-year loan?

    The answer to this question, it depends on how much you’re willing to stretch your budget. If you can afford a higher monthly payment, a 15-year mortgage will usually come with a better interest rate. With a 15-year mortgage, you will pay off your home quicker and also save a ton of money on interest. With a 30-year mortgage, your monthly costs will be less. This will allow you to maybe buy a nicer or bigger home. 

    Contact A Waltham Realtor 


    We know obtaining a mortgage can be a difficult process, which is why we’re here to help! Contact Waltham Real Estate Agent, Hans Brings today for all questions you might have about mortgage financing or Waltham Real Estate. Give Hans a call today at 617-968-0022

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      Benefits of Selling Your Waltham Home During the Holiday Season

       

      Some people don’t think the holiday season is a great time to sell a home, however, there are actually a handful of benefits that come with selling your home during this time. By selling your home during the cold, holiday months you might actually get more opportunities than you would selling during other times of the year. 

      Here are 4 benefits of selling your Waltham home during the holiday season! 


      1. Less Competition

      Waltham Realtors say that most people put their homes on the market during the spring and summer months. This is because the weather is nice, the days are longer, and people usually want to move during this time. So, if you choose to put your home on the market during the winter months instead, there is far less competition between you and other sellers. This gives your home the opportunity to be a big fish in a small pond, which will get your home more attention. 


      2. Motivated Buyers & Faster Sales

      Due to low inventory, Waltham Realtors say that buyers are usually extra motivated during the winter months. The low inventory urges them to act fast on homes they love and move quickly through the process. This definitely works to the sellers’ advantage because you won’t have a list of potential buyers who are taking their sweet time making a decision. Also, since the housing industry is slower during the holiday season, loan officers are usually quicker to approve buyers. 
       

      3. Lower Interest Rates

      Interest rates usually peak during the summertime, says a Waltham Real Estate  Agent. This means that interest rates are usually at their lowest during the winter months. This is a great incentive for buyers to house hunt during these months because lower interest rates = lower mortgage payments. 

       

      4. More Time For House Hunting

      While the holiday season is often busy and hectic, a lot of people have breaks from work and school. This gives buyers more time to house hunt and view your home beyond “usual” viewing times. Instead of waiting for the weekends or after work to show your home, you can set up showings during the week! 

       

      Contact a Waltham Real Estate Agent

      If you’re ready to sell your Waltham Real Estate and don’t want to wait any longer, don’t! The holiday season is still a great time to sell your home and Waltham Realtor, Hans Brings, is ready to help. Hans Brings has years of experience assisting sellers in getting the best price possible on their homes. For more information, give Hans a call at 617-968-0022

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        Negotiating Strategies To Get Top Dollar On Your Waltham Home

         

        One of the biggest financial transactions you’ll likely make in your lifetime is selling your home. The amount of money that you get for your Waltham Real Estate will depend on how well you can negotiate with the buyer. Luckily, with the help of the negotiating strategies below and a Waltham Realtor, it’s likely that you’ll get top dollar for your home! 
         

        1. Counter at your listing price 

        As a seller, you probably won’t want to accept an offer that’s below your asking price. However, since buyers usually expect a back and forth negotiation, their first offer will likely be lower than your listing price. At this point, many sellers will make a counteroffer with a price that’s higher but still below their asking price because they’re afraid to lose the deal. While this strategy will help you sell your home more quickly, it’s not the way to help you get top dollar for it. 

        Waltham Realtors suggest, instead of dropping your price, counteroffer with your listing price. If a buyer is truly interested in your home they will likely come back with a higher offer for you. By countering at your listing price you are showing the buyers that you know what your home is worth and plan on getting the price you deserve.  

        While this strategy may turn off potential buyers, you are avoiding wasting time on buyers who are unwilling to give you the price you deserve. If anything, you can counteroffer slightly below your asking price so that you seem flexible to an extent. 

         

        2. Reject the offer 

        Another strategy to help you get top dollar on your home is to simply reject the first offer. While this might be a gutsy move, it will send a message to the buyer that you’re serious about your listing price. To keep the potential buyer around, after you reject their first offer, ask them to submit a new offer. If they really love your home, they will. 

        If you don’t counter an offer, you’re not locked into a negotiation. This means if another buyer comes along with a higher offer you can easily accept. If the first buyer knows that someone can swoop in and make a higher offer at any time, they will likely feel pressure and submit a higher offer quickly if they really want your Waltham home.  

        Waltham Realtors say that this strategy is useful if the home has only been on the market for a short amount of time or if you have an open house scheduled! 


        3. Attempt to create a bidding war

        Once you have listed your home on the market, Waltham Real Estate Agents suggest scheduling an open house for a few days later. If you happen to get any offers before the open house, let them know you are holding off on reviewing offers until after the open house. Potential buyers will expect there to then be competition and might place a higher offer. 
         

        4. Put an expiration date on your counteroffer

        When selling your Waltham home, there’s a chance that you could be involved in multiple negotiations at the same time. If this is the case, you must communicate with each buyer to let them know the situation at hand. Letting potential buyers know that you are talking to other potential buyers might result in higher offers. 

         

        Contact A Waltham Real Estate Agent



        The biggest key to being successful in your negotiating strategies is that your home needs to be worth it. Your home must be in great condition and have something that other competing properties don’t. This will allow you to have the upper hand and be able to successfully negotiate. If you’re looking for assistance to help sell your Waltham home, contact Waltham Realtor, Hans Brings today! Hans has years of experience and will help you get top dollar on your Waltham home. 617-968-0022

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          Final Walkthrough: What to Look For Before You Close On Your Home

          closing on home

           

          The point of a final walk-through before you close on your home is to make sure that the property is in the same condition it was in when you agreed to the purchase. Final walk-throughs are not required, however, Waltham Realtors always suggest having one in case any issues have come up since the last time you looked at the home. In this article, we’ll give you tips and a checklist for you to follow during your final walk-through, so you don’t miss a thing! 

           

          When Does a Final Walkthrough Take Place?

          The final walk-through is typically completed the day before or morning of the closing date. During the walkthrough, the buyer and their Waltham Real Estate Agent will go through the property. You’ll make sure there is no new damage, that all the home’s appliances and systems that were included in the sale are still working properly, and that the home is vacant and in broom clean condition. 

           

          Why Does a Final Walkthrough Matter?

          Having a final walkthrough is important because this is a huge purchase you’re about to make! You’re about to be legally and financially responsible for the Waltham property, so it is crucial to make sure it is up to standard and in the condition you agreed on before the official closing. If one were to skip a final walkthrough there’s a chance you could be left with a financial burden if the seller didn’t take care of repairs that they said they would. 

           

          Final Walkthrough Checklist 

          When you’re excited about your new home it can be easy to overlook certain things during your walkthrough. While your Waltham Realtor will know everything to check, it’s important for you to have some knowledge as well! Here are some checklists that will be helpful to have with you during your final walkthrough. 

           

          Outside The Home Checklist:
           

          • Make sure the garage door properly opens and closes and that the remotes are working. 
          • Check for obvious signs of pests. 
          • Check for damage to the yard, mailbox, and other outside appliances. 
          • Make sure yard items that were sold with the house are there and haven’t been taken or damaged. This could include fire pits, sheds, landscaping, etc. 

           

          Inside The Home Checklist: 
           

          • Make sure light fixtures and outlets are accounted for and working properly. 
          • Test the faucets and check for any leaks. Test the hot water and make sure all drains are clean and draining water. 
          • Keep a lookout for mold or water damage. 
          • Check all the appliances. Text the stove, washing machine, dishwasher, etc. Make sure the fridge and freezer are cold. 
          • Test that all the doors and windows open, close, and lock properly. 
          • Flush the toilets. 
          • Observe all the walls and floors to ensure there is no damage. 
          • Test the garbage disposal.
          • Test the thermostat and check on HVAC units. 
          • Make sure all the seller’s belongings are gone and moved out of the home. 

           

          Contact A Waltham Real Estate Agent 

          As mentioned above, your Waltham Realtor will know exactly what to check during your final walkthrough to ensure that the home is in the best condition for you to move in. Having a Waltham Real Estate Agent is crucial during this process so don’t hesitate to ask for assistance! If you’re looking for a Waltham Realtor to help you get started with the home buying or selling process, contact Hans Brings today!
          617-968-0022

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            Are Open Houses Worth It?

             

            Over the past decade or so, Waltham Real Estate has certainly evolved. The plethora of online listings have changed the game. People are now used to browsing on their computers or phones from the comfort of their homes. This would make most people assume that open houses are no longer useful, but are they? 

            While having great photos and an online presence for your home is important, there are still some advantages to hosting an open house. In this article, we’ll discuss open houses and why they still work! 

             

            Who Typically Attends an Open House?

            The answer might seem obvious, “people who want to buy your house.” However, some people who attend a Waltham open house might not actually be in the market for a new home says Waltham Realtors. They could just be doing some initial research or there might even be some nosey people who just go to see what the inside of your home looks like. 

            But this doesn’t mean an open house is pointless. Instead, you’ll just have to prepare your expectations. Put your focus on preparing and promoting your open house for those who are actually interested in buying a home like yours.

             

            Will An Open House Sell My Home?

            In most cases, an open house itself won’t necessarily sell your Waltham home. Since there will be many people walking around, buyers won’t feel ready to make an offer right then and there. 

             

            Why Open Houses Are Worth It

            While you might not get any offers on your home during an open house, they do serve a couple of important purposes: 

            Traffic 

            The biggest thing an open house can bring to your Waltham home is people! It’s important to get people in there to simply look at your home. If buyers are visiting multiple open houses in a day they will remember their favorites and then schedule a showing through their Waltham Realtor. The more potential buyers you get to walk through your open house the bigger the chance more people end up putting an offer on your home. It’s all about getting people in there to look! 

             

             More Relaxing for Potential Buyers

            Some buyers looking around at Waltham Real Estate can hit several open houses in one day. If they were to schedule formal showings for each individual house it would take up so much time and be extremely stressful. With an open house, potential buyers are also more willing to take a look at houses that aren’t at the top of their list. This could bring even more traffic to your open house. 

             

            Contact a Waltham Real Estate Agent 

            If you’re looking to sell your Waltham home, it’s important to have an awesome Waltham Realtor by your side to help you through the whole process! Hans Brings is one of the best Waltham Real Estate Agents! Don’t hesitate to call today to get started on your Waltham home buying or home selling needs. 617-968-0022

             

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              Why Fall 2021 Is A Great Time to Sell Your Waltham Home

              multiple house offers

               

              Trying to decide if the fall is a good time to sell your Waltham home? A Waltham Realtor is here to say, YES! There might not be a better time to list your home on the market than right now. Buyer demands are still high because of low-interest rates as well as changing trends due to the pandemic. We’re still in the sellers’ market, however, it won’t last forever. Here are some reasons why it's best to put your home up for sale sooner rather than later. 

               

              Less Competition & Will Sell Quickly

              The sellers’ market that we’re in is slowly beginning to cool off. Therefore, Waltham Realtors say that now is the best time to sell your home if you’re looking to do so. There is currently less competition out there which means your home is likely to sell quickly since a lot of buyers are desperate. With the shortage of homes for sale, it’ll be easy to get attention from many different buyers. 

               

              Buyers Are Willing to Compete for Your Home

              Since there are fewer homes on the market than buyers looking, buyers are willing to compete with one another. It has been found that Waltham home sellers are seeing an average of 4 offers, and Waltham Realtors say they have been very competitive. Buyers in this market know that they are likely going to be in a bidding war and they’re coming prepared with their best offers. 

               

              Autumn Ambiance Is an Advantage 

              The beautiful fall atmosphere can greatly enhance your home’s curb appeal making it even more attractive to buyers, says a Waltham Real Estate Agent. Maintaining the exterior of your home is always important while selling, however, it’s especially important as the seasons' change. Make sure all the leaves are raked and the gutters are clean, the remaining fall foliage will add a warm and welcoming feel to potential buyers. 

               

              Contact a Waltham Realtor 

              If you’re looking to sell your Waltham home, don’t delay any longer! With the housing inventory still on the lower end, now is the time to sell. Let a Waltham Real Estate Agent help you with the selling process. Waltham Realtors always work hard to get the best price for your home and you won’t be disappointed with the results. Contact Hans Brings today by calling 617-968-0022

               

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                Is It a Good Idea To Buy a Foreclosed Home?

                foreclosure home

                 

                For many real estate investors, buying a foreclosed home has become a popular investment strategy. They believe that buying a foreclosed home is an easy way to make money. However, sometimes it can come with risks and complications, and not all investors are successful. So before you consider buying a foreclosed Waltham home as an investment property, here is some insight from a Waltham realtor

                 

                What Is a Foreclosed Home? 

                A foreclosed home is one in which the owner is very much past due on their mortgage payments. When this happens, the mortgage lender will start a legal process to take ownership of the home back. Foreclosure can also happen if the homeowner does not pay their taxes. 

                Once the mortgage lender gains possession of the home, it will then be auctioned off. The auction process is very competitive and most people who win the auctions end up being all-cash buyers.

                 

                How to Buy a Foreclosed Home

                If you’re interested in buying a foreclosed Waltham home you need to first know where and how to find them. There are websites available that can help you find them. If you cannot find any online, reach out to your local Waltham real estate agent and they will be able to help! 

                Before buying a foreclosure, you should understand that it can be more complicated than you might think. It could also initially cost you more money than you might think. This is because these homes are often in bad condition and require a lot of work to be done on them. 

                 

                Benefits of Buying a Foreclosed Home

                While there might be some risks when buying a foreclosed home, there is also a chance that it ends up being very successful. Here are some of the benefits you can come by!

                 

                Great Savings

                It is very possible to save a lot of money when buying a foreclosed Waltham home. There’s a chance you could find a luxury house in foreclosure and you won’t have to pay the super high price associated with them. Foreclosure homes tend to be 20% - 40% less than the market price.

                 

                Big Return on Investment

                Foreclosure homes can be a great way to make a quick and high profit. In some cases, you might find one that is sold under the market value and then you can resell it quickly at market value or even above it. That could end up being an instant profit of up to 40% - 70%. Also, if you hire a Waltham real estate agent to help you sell it, you could possibly get an even higher price for it! 

                 

                Less Competition than Traditional Home Buyers

                Since there are not many traditional Waltham home buyers looking for a foreclosed home, there is less competition for you! This means you’ll have less stress and pressure when bidding on the foreclosed home. 

                 

                Cons of Buying a Foreclosed Home 

                Buying a foreclosed home can also come with many drawbacks. Here are some that you should be aware of! 

                 

                You’re Buying the Home “as is” 

                As mentioned above, a foreclosed home might be in bad condition and in need of a lot of work. You also won’t have the chance to inspect the home and reject it because of anything not being up to code. If you don’t like the structure or the state the home is in, Waltham realtors suggest not to go through with buying it. 

                 

                Repair Problems

                Since you’re buying the home “as is” you might have a lot of repairs that need to be made. These repairs could be costly and you could end up spending a lot more money than you expected. It could be more than just a simple paint job, there’s a chance something like the roof could be falling apart or there’s a bug infestation inside. 

                 

                Liens on the Property 

                There could be liens on the property that you are not aware of. If the former owners took out loans to make repairs or improve the home, there’s a chance they didn’t pay those loans fully off. Therefore, the lien holders might come to you to pay them off since they can’t collect from the previous owners anymore.

                 

                Contact A Waltham Realtor 


                Before deciding if buying a foreclosed Waltham home is the right move for you, consider talking with a Waltham Real Estate Agent. Waltham Realtors know the ins and outs of what comes with buying a foreclosed home and can help you decide if it’s a good idea or not. Contact Waltham Realtor, Hans Brings, today for assistance! 617-968-0022

                 

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                  How To Compete with All-Cash Offers When Buying a House

                  bidding on a home

                   

                  A frustrating thing to encounter when getting ready to put an offer on a home is finding out that you are up against someone that has made an all-cash offer. All-cash offers often get chosen because it makes the process much faster and easier for the seller. However, don’t give up hope just yet. By hiring an experienced Waltham Real Estate Agent you’ll be able to have a chance at winning against the cash buyers! Your Waltham Realtor will walk you through some important steps that we’ve listed below that will give you a leg up on your offer. 

                   

                  Get a head start on the mortgage

                  Waltham Realtors recommend reaching out to your mortgage lender to see if they can speed up the process a little bit. Find out what information they need from you and get it to them as soon as possible. Some mortgage companies are offering pre-commitment documents which help speed up the process. If the sellers are looking for a quick sale it’s important to be completely ready and prepared with your mortgage documents when you go to put in an offer. 

                   

                  Pre-order your appraisal

                  It might be harder to pre-order your appraisal with larger banks, however, with smaller banks, mortgage brokers, and direct lenders you can get your appraisal put together in advance. Your Waltham Realtor will help you include this information in your offer so that the seller knows that your appraisal has already been ordered. 

                   

                  Up your offer

                  Cash buyers often get a discount because they are offering cash. If you are able to, Waltham Real Estate Agents will recommend upping your offer on the home. To increase your chances, offering a little more on the home will help you out. If the difference between offers is decent enough, the seller will be intrigued and might not resort to automatically accepting the cash offer. 

                   

                  Introduce yourself to the seller

                  If you believe this is your dream home, Waltham Realtors suggest writing a letter to the sellers to introduce yourself. This will help the seller get to know you better. Since I’m sure their home is special to them, they’ll want to sell it to someone who feels the same way about it. By telling them a little bit about yourself and why you love their home so much it might push them towards accepting your offer over the all-cash offer. 

                   

                  Give the sellers what they want

                  Accommodating the seller’s needs is key!  It’s possible that they still need time to find a new home for themselves or they need to rent the home from you for an extra month or so. If either of these is the case and you’re able to make the deal and let them stay for a little longer, say yes! If it means getting your dream home, what’s waiting an extra month or so?

                   

                  Contact a Waltham Real Estate Agent


                  Waltham Realtors are always here to give you the best advice and insight as you navigate the home buying process. You Waltham Real Estate Agent won’t let you down! Reach out today by giving Hans Brings a call at 617-968-0022.

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                    What's The Difference Between a Pending Sale & a Contingent Sale?

                     

                    While searching for Waltham Real Estate online you might often come across a listing that states it’s “contingent” or “pending.” If you’re not familiar with what these terms mean you’re probably confused as to what the difference between them is and whether the home is actually available or not. A Waltham Realtor is here to give you all the insight! 

                     

                    What Does Contingent Mean in Real Estate?

                    When you see that a home is contingent it means that the seller has accepted an offer on the home, however, before the home is completely off the market some specific requirements need to be met. Once certain requirements are met the status of the property will switch from an active listing to a pending status until the home is finally marked as sold. 

                     

                    What Does Pending Mean in Real Estate?

                    When you notice on a listing that the home is pending, Waltham Real Estate Agents suggest moving on from that home. A pending sale means that the offer has been accepted, the contingencies are all set, and the buyer and the seller are moving forward with the sale. A pending offer is the time period between the contingencies being met and the close of the sale.

                     

                    Common Contingencies in Real Estate

                    As mentioned above, when a Waltham home is contingent it means there are still some requirements that need to be met before the sale can continue. Examples of contingencies include:

                     

                    Home Inspection 

                    Buyers may put a home inspection contingency on an offer to make sure the home is in satisfactory condition prior to purchasing.  Home inspections many issues such as bug infestations, foundation issues, mechanical issues, or mold issues. 

                     

                    Appraisal Contingencies

                    Appraisal contingencies are also often required by lenders to make sure the house is at least worth the price of the accepted offer. The appraisal will look into amenities, location, home add-ons, or other higher-value features that might add or detract from the home's value. If the appraiser finds issues that make the home worth less than the offer that was accepted there could be issues with the sale. 

                     

                    Financing Contingencies

                    If you’re taking out a loan to purchase a home, Waltham Realtors will often suggest a financing contingency before the sale is final. A financing contingency allows you to back out of a sale if for some reason the loan does not end up being granted. 
                     

                    Common Pending Types in Real Estate

                    There are a few kinds of pending sales in real estate, the common ones include: 

                     

                    Pending - Short Sale 

                    A pending short sale means the home is awaiting approval from the bank. The bank has to approve all aspects of the sale which Waltham Realtors say could greatly slow down the closing process of the sale. Within short sales, deals often fall through because the banks take so long and the buyer ends up finding another home with a quicker closing process. 

                     

                    Pending - Taking Backups 

                    When the status of a listing says “taking backups” this means the seller believes the deal is likely to fall through. Waltham Real Estate Agents say sellers may notice some financial problems or other issues and want to make sure they have some backup offers just in case. However, the offer has to fall through on its own, the seller cannot drop the offer if they happen to get a higher one. 

                     

                    Can You Make an Offer on an Active Contingent Listing?

                    Until a home is officially sold you can always make an offer. However, Waltham Real Estate Agents say the best time to make an offer on a home is when there are no pending sales or contingencies in the way. The next best time to make an offer is when the pending status says “taking backups.” 

                     

                    Contact A Waltham Real Estate Agent

                    If you’re looking for a reliable Waltham Realtor to assist you throughout the home buying or selling process, contact Hans Brings today! Hans will assist you every step of the way helping you get your dream home or the best possible offer on your current home. 617-968-0022

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