Metrowest Area Homes Team - RE/MAX Executive Realty | Hopkinton MA Real Estate


What happens if you receive an offer on your home that fails to meet your expectations? Ultimately, you may want to decline the offer. But before you do, there are several questions you'll want to consider, including:

1. Is the offer "fair"?

Let's face it – one home seller's definition of a "fair" offer may differ from another's. However, an informed home seller will be able to differentiate a "lowball" offer from a strong proposal.

A lowball offer typically fails to account for a home's condition and the current state of the housing market. As such, this proposal may fall far below a home seller's initial asking price.

On the other hand, a strong proposal may meet or surpass a home seller's initial asking price. This offer likely accounts for a home's strengths and weaknesses, along with the needs of a both the homebuyer and home seller.

2. Are there any other offers on the table?

If you receive an offer on your home, you'll probably have one to two days to decide how to proceed. And if you have multiple offers in hand, you likely have a lot to think about in a short period of time.

In some cases, the best offer is not necessarily the highest offer, and for good reason.

For instance, a homebuyer may submit an offer on a home that exceeds a home seller's initial asking price. But if this homebuyer has not been pre-approved for a mortgage, he or she likely will need to obtain financing to proceed with a home purchase.

Conversely, a homebuyer who has been pre-approved for a mortgage knows exactly how much money is at his or her disposal. When this homebuyer submits an offer, he or she may be better equipped than other homebuyers to acquire a residence.

3. Can I afford to be patient?

Consider your timeline as you debate whether to decline an offer.

If you're in no rush to sell your home, you can afford to be patient with offers on your house. Or, if you want to relocate to a new address as soon as possible, you should price your home aggressively from the get-go.

4. If I decline an offer, what will happen next?

After you decline an offer on your home, the homebuyer has the option to submit a new proposal or move on to other houses.

As a home seller, it is important to take an informed approach to home offers. With a real estate agent at your side, you should have no trouble making the best decisions on any proposals.

A real estate agent understands the ins and outs of the housing market and can help you evaluate all offers on your residence. He or she can provide you with honest, unbiased real estate recommendations and ensure you can get the best results during the home selling journey.

Collaborate with a real estate agent – you'll be glad you did. A real estate agent will enable you to evaluate home proposals and maximize the value of your house.


This Single-Family in Grafton, MA recently sold for $499,900. This Garrison style home was sold by Metrowest Area Homes - RE/MAX Executive Realty.


17 Danielle Dr, Grafton, MA 01519

Single-Family

$499,900
Price
$499,900
Sale Price

7
Rooms
3
Beds
2/1
Full/Half Baths
Sun splashed home in one of Grafton's most popular neighborhoods, Cronin Brook estates. Teriffic lot with spacious back yard and views. Updated white Kitchen with stainless steel appliances and newer Maple floors in Kitchen, Dining room and living room. Cathedral Family room with palladian picture window and brick fireplace with custom ship lap Mantle. relax on the oversized deck. first floor powder room and laundry. Tile foyer and wood stairs lead to wood second floor hallway. Nice size master bedroom with walk in closet and master bath. nice views and huge private yard. 2 sheds, Lawn irrigation. New Roof 2009, some siding replaced. Elementary school right around corner. easy access to commuter rail and Highway

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45 Granite St, Hopkinton, MA 01748

Single-Family

$1,080,000
Price

9
Rooms
4
Beds
3/1
Full/Half Baths
New Construction, Fabulous estate setting set back on 2.7 private level acres (perfect for future pool and or multi-car carriage house) and abutting Echo Lake conservation. respected local builder. Meander down the driveway and the bluestone walkway leads to front portico. Grand 2 story foyer features raised panel wainscoting and turned staircase. The kitchen features white cabinetry, farmers sink, Quartz counters and Jenn-Air Pro stainless appliances & wine fridge. Sliders to blue stone patio, spacious back yard. Dining room and living rooms with raised panel wainscoting, wood floors and 2 piece crowns. The 20x18 Family room features coffered ceiling, wood floors and gas fireplace. The master suite is enhanced with Tray ceiling, wood floors and huge his & hers closets. The luxurious master bath features radiant heated floors, full tile shower with seamless glass enclosure and rain shower head. free standing tub. double vanity with quartz top.
Open House
Sunday
May 05 at 1:00 PM to 2:30 PM
New Construction, ready to move right in
Cannot make the Open Houses?
Location: 45 Granite St, Hopkinton, MA 01748    Get Directions

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The amount of money you will need to ensure you can purchase a house varies based on a number of factors. For example, if you want to purchase a house in a big city, you may need to save more money than you likely would require to buy a residence in a small town. Meanwhile, your decision to choose a fixed-rate mortgage over an adjustable-rate mortgage – or vice-versa – can impact your monthly housing costs. And let's not forget about the costs of home utilities like electricity and water, either.

Ultimately, it helps to put together a homebuying budget before you embark on a house search. Because if you know how much money you have at your disposal, you can map out your house search accordingly. And as a result, you can minimize the risk of spending too much to acquire your dream residence.

Let's now take a look at three tips to help you craft an effective homebuying budget.

1. Evaluate Your Current Expenses

An in-depth assessment of your current monthly expenses is key. If you conduct an expense evaluation, you can find out how much you spend on various must-haves and wants. You then can take steps to reduce your monthly expenses and increase your savings for a new home.

It also never hurts to consult with a financial planner. If you have a financial planner at your side, you can gain expert insights to help you evaluate your current expenses. Plus, you can work with a financial planner to determine the best course of action so you can eventually buy your dream residence.

2. Get Pre-Approved for a Mortgage

Meet with a variety of banks and credit unions and explore your mortgage options – you will be happy you did. If you assess your mortgage options closely, you can find one that complements your finances. And once you get pre-approved for a mortgage, you will know how much you can spend on a house.

Generally, it is beneficial to meet with as many banks and credit unions as you can. If you consult with myriad lenders, you can receive extensive insights into many mortgage options. Best of all, you will be better equipped than ever before to find the lowest-possible interest rate on a mortgage.

3. Consider Your Down Payment Options

The down payment required for a home purchase varies, but it commonly ranges between 5 percent and 20 percent of a house's total price. If you account for a down payment as you craft a homebuying budget, you can use this total to plan ahead for the property buying journey.

Lastly, you may want to collaborate with a real estate agent as you prepare to launch a home search. In addition to helping you find your dream residence, a real estate agent can put you in touch with potential lenders and offer plenty of guidance throughout the property buying journey.

Ready to pursue a home? Use the aforementioned tips, and you create a successful homebuying budget.



501 Coronation Dr, Franklin, MA 02038

Single-Family

$339,900
Price

5
Rooms
3
Beds
1
Baths
Move right in to this nicely updated light and bright 3 bedroom ranch. Updated Cherry kitchen with granite counters, tile backsplash and Stainless steel appliances. wood floors in Living room and all bedrooms. LIving room with fireplace and bay window. Kitchen slider to deck and brick patio. updated bathroom. All the expensive work is done- New Roof 2015. New Gas Furnace and Hot water tank 2019. white woodwork, new interior doors. Freshly painted interior and exterior, 2019. replacement windows. new carpet in basement bonus room.
Open House
Sunday
April 28 at 11:30 AM to 1:00 PM
Cannot make the Open Houses?
Location: 501 Coronation Dr, Franklin, MA 02038    Get Directions

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