Making An Offer On Beacon Hill Condo In 2021 Boston Condos For Sale Ford Realty

Boston Beacon Hill condos for Sale and Apartments for Rent

Loading...

Making an Offer on Beacon Hill condo in 2021

In today’s Boston Beacon Hill condo market, standing out as a buyer is critical. Multi-offer scenarios and bidding wars are becoming popular again due to the low supply of Boston condos for sale and high buyer demand. If you’re buying this fall, you’ll want every advantage, especially when you’ve found the home of your dreams.

Below are five things to keep in mind when it’s time to make an offer.

1. Know Your Beacon Hill Condo Budget

Knowing your budget and what you can afford is critical to your success as a homebuyer. The best way to understand your numbers is to work with a lender so you can get pre-approved for a loan. As Freddie Mac puts it:

“This pre-approval allows you to look for a home with greater confidence and demonstrates to the seller that you are a serious buyer.”

Showing sellers you’re serious can give you a competitive edge. It enables you to act quickly when you’ve found your perfect home.

2. Be Prepared To Move Fast On a Boston Beacon Hill Condo

Speed and the pace of sales are contributing factors to today’s competitive housing market. According to the latest Existing Home Sales Report from the National Association of Realtors (NAR), the average home is on the market for just 17 days. As the report notes:

“Eighty-nine percent of homes sold in July 2021 were on the market for less than a month.”

When homes are selling fast, staying on top of the market and moving quickly is key. After you’ve worked with your agent to find the home that suits your needs, they’ll help you put together and submit your best offer as soon as possible.

3. A Beacon Hill Real Estate Professional Can Lead You to Victory

No matter what the housing market looks like, rely on a trusted real estate advisor. As Freddie Mac says:

“The success of your homebuying journey largely depends on the company you keep. . . . be sure to select experienced, trusted professionals who will help you make informed decisions and avoid any pitfalls.”

Agents are experts in the local real estate market. They have insight into what’s worked for other buyers in your area and what sellers may be looking for in an offer. It may seem simple, but catering to what a seller may need can help your offer stand out.

4. Craft a Strong, Fair Beacon Hill Condo Offer

In the past, offering at or near the asking price was enough to make your offer appealing to sellers. In today’s market, that’s often not the case. According to the latest Realtors Confidence Index from NAR, 50% of offers are above the list price.

In such a competitive market, emotions and prices can run high. Having an agent to help craft a strong, fair offer is critical in these situations. Your agent can help you understand:

The market value of the home
Recent sales trends in the area
Current buyer demand

5. Understand the Seller’s Needs, but Resist Waiving Certain Contingencies

When crafting an offer, you’ll want to keep both your best interest and the interest of the seller in mind. Your trusted real estate advisor will help you consider which levers you could pull, including contract contingencies (conditions you set that the seller must meet for the purchase to be finalized). Of course, there are certain contingencies you don’t want to give up, like the home inspection.

Freddie Mac explains:

“Resist the temptation to waive the inspection contingency, especially in a hot market or if the home is being sold ‘as-is’, which means the seller won’t pay for repairs. Without an inspection contingency, you could be stuck with a contract on a house you can’t afford to fix.”

Beacon Hill Condos for Sale and the Bottom Line

Today’s competitive housing market makes it more important than ever to make a strong offer on a home. Let’s connect to make sure your offer rises to the top.

Boston Beacon Hill condos for Sale and Apartments for Rent

Loading...

________________________________________________________________________________________________________________________________________________________________________________________________________________________________________

Boston Beacon Hill condo Offers

Making an Offer

Before the offer to purchase is created, it is very important that you have been at least pre-qualified or better yet pre-approved by a lender.

This is one of the best negotiating tools a buyer can have. It shows the Beacon Hill condo seller that you are financially able to purchase the condo. After you have found the right Boston condo, it is time to prepare the offer.

When you are buying a Beacon Hill condo, there are many problems that the seller is obligated to disclose. For example, in Massachusetts, it is illegal to withhold information about major physical defects on the property, but, these disclosures don’t always paint the entire picture of the Boston condo. Here are six questions you may want to ask that can offer additional insight about the prospective condo before you make a final decision.

Why is the seller selling the condo?

This question may help you evaluate the “real value” of the property. Is there something about the house the seller does not like? If so, you may be able to adjust the purchase offer accordingly.

How much did the seller pay for the Beacon Hill condo?

This question can, in some instances, help the buyer negotiate a better deal-maybe even get the seller to carry part of the loan. However, it is important to remember that the purchase price is influenced by several factors, like the current market value and any improvements the seller may have made to the Beacon Hill condo. The original purchase price might not have anything to do with the current value of the house.

What does the seller like most and least about the property?

By asking the Beacon Hill condo seller what he or she likes most and least about the property, you might get some interesting information. In a few cases, what a seller likes the most about a condo might actually be something the buyer is looking to avoid. For example, if the seller describes his house as being in a “happening community,” the buyer might consider this a negative factor because the area may be too noisy or busy for his or her taste.

Has the seller had any problems with the condo in the past?

It is also a good idea to ask the seller if he or she has had any problems with the condo while living there. Has the seller had problems with a leakage from the upstairs bedroom in the past? If so, even if the leak has been corrected, the floor and walls around the bathroom might have been damaged. You should also check that these items were repaired properly.

Are there any nuisances or problem neighbors?

Use this answer to find out about any noisy neighbors, barking dogs, heavy airplane traffic or even planned changes to the community, such as a planned street widening. This may give you insight on why the seller is really moving.

How are the public schools in the area?

Because the value of a community is usually greatly influenced by the public schools in the area, finding out the buyer’s perception can give you some insight about the quality of the area’s schools.

Beacon Hill condos for sale

Boston condos for sale

Beacon Hill condo for sale

Boston Midtown condos for sale

Boston condos for sale near Beacon Hill

Back Bay Boston condos
Beacon Hill Boston condos
Charlestown Boston condos
Navy Yard Charlestown Boston condos
Dorchester Boston condos
Fenway Boston condos
Jamaica Plain Boston condos
Leather District Boston condos
Midtown Boston condos
Seaport District Boston condos
South Boston new condos
South End new condos
Waterfront new condos
North End new condos
West End new condos
East Boston condos

All Beacon Hill Condos for Sale

Sorry we are experiencing system issues. Please try again.

Newest Beacon Hill Condos for Sale

Sorry we are experiencing system issues. Please try again.

________________________________________________________________

Beacon Hill Condo Sales Data Updated in Real Time

Click the link below for Beacon Hill condo sales charts:

Beacon Hill condo sales data based on real-time – 30-day tracking

_______________________________________________________________________________________________________________________

Beacon Hill Condos – Open Houses

Sorry we are experiencing system issues. Please try again.

Beacon Hill Charity Donation

My new goal for the Fall of 2019 is to provide a percentage of our Beacon Hill Real Estate commission to fight Alzheimer’s

Select us to represent you either as a buyer or seller’s agent and we’ll give back a portion of the sales commission to find a cure for this awful disease.

Having a recent love one suffer and died from this illness broke my heart. Please let us work together to find a cure.
Ford Realty has been in business for over 20 years.
Ford Realty Inc has several 2019 positive Google Reviews
For more information email realtyford@yahoo.com. You can call or send us a text @ 617-595-3712.
Thank you