Home Buying
Real Estate is NOT a Tag Sale
Selling your Western MA home is not a tag sale, it is a major financial decision that has many aspects and pitfalls that most people never consider. You do not want to treat your real estate transaction as if it was a tag sale.
Here is a scenario:
Mrs. Seller wants to sell certain items to Mr. Buyer. She decides to either contact the buyer or the buyer agent directly and make a deal. They agree to a private arrangement and never involve their Western MA realtor or attorney. No big deal, right?
WRONG.
Fast forward to closing time. Mrs. Seller leaves the agreed upon items in the house at closing. Mr. Buyer fails to pay the seller and suddenly Mrs. Seller is calling her agent and lawyer to get them involved. There is nothing in writing, no representation involved in the negotiation and no witnesses to the deal…Mrs. Seller may never see her items or the money.
Another example:
Mr. Seller asks Miss Buyer if he can leave certain items for her including paint cans, lumber, a lawn mower and firewood. She says yes and they move onto closing. No biggie, right?
WRONG.
Moving on to the day of the closing and Miss Buyer does her walk through with her Western MA real estate agent and doesn’t want to close unless the items are removed. The closing moves forward, but the seller ends up paying several thousand dollars in concessions to the buyer for the items left behind.
These are just two examples of how private or side deals can blow up a transaction and potentially cost a lot of unexpected money from the proceeds of the sale.
These types of arrangements are best handled by your representation and placed in writing attached to the purchase contract to avoid issues at the closing.
If you have questions about this issue or any other Western MA real estate questions feel free to reach out!
Lesley Lambert- Park Square Realty
413-575-3611
Flipping Homes in Western Massachusetts
Are you considering buying a distressed property in Western MA to renovate and resell or “flip”?
There is a potential for making profits in flipping homes in Western Massachusetts, but the process can also be problematic if you don’t have good advice. I specialize in assisting investors with purchasing properties at wholesale or distressed prices and helping them to resell the home once it is renovated. It is important that you have an agent with experience in investment flipping to guide you, so that you don’t lose money when you should have profits.
A few major concerns: not overpaying for the property initially, not over improving the property, choosing the correct improvements and conserving money on less desirable improvements, proper pricing and marketing of the completed project to reduce carrying costs and aggressive negotiations and the management of the transaction to ensure a quick closing.
I have extensive experience with helping investors in Western Massachusetts purchase property to renovate and resell, or flip. If you are considering trying this process, it would be my pleasure to help you!
Lesley Lambert, Park Square Realty, REALTOR serving Western Massachusetts investors for 24 years.
413-575-3611
Why Lesley Lambert is a REALTOR with Park Square Realty in Westfield, MA
I have been a REALTOR for going on 24 years and I really love my work in real estate in Western Massachusetts. I was recently asked to talk about why I love real estate and why I work at Park Square Realty in Westfield, MA.
I am proud of my work in real estate in the Greater Westfield area and I love working with Park Square Realty in Westfield, MA. If you need to find a REALTOR in Western MA who has experience, know how and the proof to back it all up, you need to hire me: Lesley Lambert of Park Square Realty.
Home Ownership Matters in Western Massachusetts
I have been raised with the belief that home ownership matters and that is clearly a passion and mission of mine in my career as a real estate agent in Western Massachusetts. The National Association of REALTORS has just created a new campaign and commercial that shows the importance of home ownership from a child’s perspective. I know as a mother that home ownership and the idea of home really DOES matter to children and I am proud and thankful to be part of the process for home owners in Western Massachusetts.
If you are considering buying a home in Western Massachusetts, please call me: Lesley Lambert of Park Square Realty in Westfield, MA 413-575-3611.
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