Sometimes we are ready for change and with that change comes the need or want to sell our current home. Whether it is a want or a necessity due to a financial hardship, there are 5 ways to sell your home in Massachusetts.
This guide will help you determine which option will work best for you.
To list your home traditionally is to contact a real estate agent who will list your home for sale within the Massachusetts market. As a baby boomer looking to sell, a real estate agent can assist you from the beginning to the closing table. Depending on the current market, this may require you to do some updates to your home or even some repairs. Your agent will be able to assist you in those decisions, but it could get costly and it is important to ensure you will be getting a return on those investments. Listing your home traditionally will take time as the real estate agent will list the home within the Massachusetts market, advertise it for sale and host open houses. This process can be cumbersome at times since you need to keep your home in tip top shape for possible showings that can occur at any moment. Keep in mind, this route comes with expenses as well including real estate commissions, closing fees and taxes.
Sell it Yourself
You could choose not to contact a real estate agent and list the home for sale by owner. In this instance, you will handle all the details. As with listing traditionally, you may need to make repairs or updates and you need to find the avenues to advertise your home for sale in Massachusetts. This For Sale By Owner (FSBO) option will save you some commission expense, but the other costs will still incur. In addition, when it comes time to negotiate with a buyer and have documents such as contracts prepared properly, things can get a little scary. Housing transactions can get complicated and it is important the documents are handled with extreme care as to not get sued later on down the line. Be sure to do your research property on the current market in Massachusetts so you can appropriately price your home. The right price can factor in greatly as to how quickly you will sell.
Offer Owner Financing
Offering seller financing as a baby boomer with perhaps a larger home in Massachusetts is a great way to open up to an additional market of prospective buyers. This can save time in the sale process as well since you are attracting a larger pool of potential buyers within the Massachusetts market. However, it is important to keep in mind this does tie up money that will not be paid out at the time of closing. The new buyer will make monthly payments to you to pay back the offered financing, so you will receive additional monthly income. Things can get a little complicated if the buyer stops paying monthly, however. In the end, you could end up in a lengthy court process and with the home back on your hands.
Agreement for Deed
Another option to open up the potential buyers for your home in Massachusetts is to allow the buyer to rent your home to own, also known as agreement for deed. In this situation, the buyer will provide an agreed down payment amount and monthly payment until they can secure financing to pay you off and then will own the home themselves. This provides you with a little upfront cash and some monthly income, however, this option can come with some setbacks as well. You will want to make sure you are properly protected within the agreement and ultimately if the buyer cannot perform, you will end up with a property to still sell.
Sell Direct for Cash
If you find none of these options sound the most appealing for your situation as a baby boomer trying to sell their home in Massachusetts, then you may want to consider selling your home directly to a cash buyer. This is considered a direct sale in which the cash buyer often does not require you to do any updating or repairs. There are no financing contingencies or underwriters either, so the timeline is expedited which may suit your needs and wants much better. In addition, this eliminates the need to pay costly fees such as real estate commissions, closing costs and some taxes.
As a baby boomer, you have made many great decisions along your path, so to continue when you want to sell your home in Massachusetts, reach out to us and we can offer you a fair cash deal with a closing date that accommodates your timeline. We are professional and have many years of experience in buyer homes for cash directly in Massachusetts.