ALL CAPITAL REALTY, LLC
22 South St, Westborough, MA 01581
508-366-4888 | [email protected]



Posted by All Capital Realty Team on 10/6/2018

Selling a home takes patience. Especially when youíre balancing your time between settling into your new home, and keeping up with your work and family life. So, when youíve finally gotten to the point of accepting an offer on your home, youíll probably breathe a sigh of relief--and you should!  However, there are still a few more things that will need to happen and a couple of things to consider before closing the deal on your home sale.

Contingencies on the purchase contract

A purchase contract typically includes contingency clauses that are designed to protect the interests of both the buyer and the seller. These clauses mean that the contract is contingent upon the actions being completed before it can be legally valid.

There are three main contingencies that will likely be included in the purchase contract before closing--inspection, financing, and appraisal.

Inspection contingency

The inspection contingency allows the buyer to have the home inspected by a professional before closing (the time should be specified within the contract, but the inspection should usually occur no more than two weeks after you accept the offer). A home inspection lets the buyer know what to expect in terms of repairs that the home needs now or will need in the near future.

Financing contingency

Since the vast majority of buyers will be purchasing their home through a loan, a financing contingency is included to allow the buyer time to secure their mortgage. Getting pre-qualified and pre-approved makes this process easier, but the buyer will still have to finalize and close on their mortgage before their financing is official.

This clause exists to protect the buyer in the event that their mortgage application is denied, ensuring that they arenít penalized.

Appraisal contingency

The third contingency most often found in purchase contracts is a home appraisal. The buyer will order an appraisal and then the appraiser will reach out to you to find a day to come and value your home.

If the home is then appraised at the amount agreed upon in your contract, this contingency is met. However, if the appraisal comes up lower than the purchase amount, the buyer can renegotiate the price.

Walkthrough and closing

Once the appraisal and inspection have been met and financing secured, the buyer will have a chance to do a final walkthrough of your home. The walkthrough usually occurs no more than two days prior to closing on the sale. A walkthrough allows the buyer view the home one last time to ensure that the condition of the home hasnít drastically changed since the home was inspected or appraised. So, make sure the buyer is aware of any changes you planned to make to the home before closing.

Now youíre ready to close on your home sale. Youíll receive a disclosure form to review (read it carefully!) and sign. Once closing is complete, ownership of the home is officially transferred to the buyer.

While the closing process does include several steps, itís important to be available and cooperative along the way to ensure a smooth sale and transition into your new home.





Posted by All Capital Realty Team on 3/18/2017

Ready to submit an offer on a home? Putting together a proposal that stands out in a home seller's eyes is key.

With the right home offer, you can improve your chances of securing your dream house without delay. Plus, dedicating time and resources to put together a home offer that works for both you and a home seller is sure to accelerate your journey from homebuyer to homeowner.

How can you improve your chances of submitting an offer that a home seller is sure to accept? Here are three tips to help a homebuyer submit a standout home offer.

1. Get Pre-Approved for a Mortgage.

In many instances, a home offer may be contingent upon financing. And if a homebuyer has to secure financing after submitting a proposal, this individual could risk missing out on an opportunity to purchase his or her dream house.

Comparatively, a homebuyer who gets pre-approved for a mortgage will have the necessary financing in place when he or she submits an offer. As a result, this individual's offer may stand out from other proposals, particularly to a home seller who wants to speed up the home selling process.

2. Consider a Quick Home Inspection.

Don't ask the home seller for 15 or 30 days to conduct a home inspection. Instead, be ready to conduct a home inspection as soon as possible.

You may need only a few days to set up a home inspection. As such, if your offer includes a request for five or 10 days to complete a home assessment, it may stand out from others.

Also, if you find your dream home, you may want to consider purchasing the house "as is." Doing so may allow you to forgo negotiations between a homebuyer and home seller after a home inspection.

If you submit an "as is" home offer, you will be able to learn about the condition of a property before you buy it. However, after a home inspection, you will be unable to ask the home seller to complete repairs. At this point, if you find the house fails to meet your expectations, you can either walk away or buy the home in its current condition.

3. Add an Escalation Clause to Your Offer.

An escalation clause can help you compete against other homebuyers in a fierce real estate market. It enables you to increase your offer by a set amount over any other bids to a certain level. As a result, including an escalation clause in your home offer can help you avoid the risk of overpaying for a house and improve your chances of securing your dream residence at the same time.

Ask your real estate agent to include an escalation clause in your home offer. Your real estate agent can help you submit the perfect proposal, and ultimately, boost your chances of getting a "Yes" from a home seller.

Use the aforementioned tips, and you can bolster your chances of getting the right house at the right price.





Posted by All Capital Realty Team on 1/28/2017

You recently listed your home on the real estate market, and now, you've received your first offer. However, you only have a short period of time to review the proposal and accept, reject or counter it. Determining how to handle an offer on your home can be challenging. Fortunately, we're happy to help you fully evaluate an offer so you can make an informed decision. There are numerous factors to consider as you review an offer on your house, including: 1. Price In some cases, homebuyers may submit a "lowball" offer in the hopes of getting a seller to jump at a quick sale. If a home seller accepts this offer, a homebuyer is able to purchase a terrific home at a bargain price. Conversely, if a home seller rejects or counters the offer, a homebuyer may have an opportunity to reconsider his or her options. As a home seller, you should consider how much you are willing to accept for your residence before you add it to the real estate market. By doing so, you can list your home for a fair price and act quickly and effectively as you receive offers. Also, flexibility is paramount for home sellers. And even though you may list your home for a particular price, you may want to consider accepting an offer below your initial asking price if you're looking for a quick sale. 2. Sale of a Buyer's Home Although a homebuyer may submit an offer that is at or above your initial asking price, the proposal may have strings attached that could slow down the home selling process. For instance, a homebuyer could make an offer that is contingent upon him or her selling a residence within a set period of time. But if this homebuyer is unable to sell his or her house, your home sale could fall through, which could cost you both time and money. In this scenario, consider your options carefully. If you believe you can receive other offers from homebuyers who don't require this contingency, you may be better off rejecting or countering the proposal. 3. Your Timeline If you've already secured a new home and need to sell your current residence as quickly as possible, you may want to consider accepting an offer even if it is below your initial asking price. On the other hand, if you are able to afford two mortgages for an extended period of time, you may be better equipped to wait out a slow real estate market. When it comes to determining whether to accept an offer on your residence, consulting with your real estate agent usually is a great idea. This professional can offer expert resources you might struggle to find elsewhere and empower you with the insights you need to make the best decision possible. Consider the aforementioned factors as you evaluate an offer on your home, and you should be able to accept, reject or counter a proposal with confidence.







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