Black and Buono Blog

...By Kiley Black

Surely, as a realtor you have come across the client who needs to downsize or upgrade, but doesn’t want to sell their existing home with housing prices the way they are. Many homeowners are becoming reluctant land lords.
 
Your client needs a real estate attorney who understands the rental process. Black and Buono can assist your client in the writing and structuring of lease agreements, condo fees, rent to own agreements and general rental policies. You know it isn’t a seller’s market. But, it is a “renter’s market”, and your client could benefit.

Faced with selling their homes in today’s short sale and foreclosure ridden market or leasing them, many realtors are seeing their clients who want or need to move are becoming defacto landlords. Despite the difficulties the real estate market is facing, there are opportunities for interested entrepreneurs who want to an investment property.

Many of those people who are buying homes right now are downsizing for retirement, cutting living expenses to match reduced income, relocating for a new job and taking advantage of low prices and ultra-low interest rates to buy a better house for their needs.

If you have clients that can’t sell their home for enough to cover the mortgage and don’t plan on leaving the area, help them take advantage of the low home prices and buy their dream house. They can rent an existing home with your help, and the help of a reliable real estate attorney, contact Black and Buono.

...by Kiley Black

Some of the most frequently asked questions at this time of year as summer heads toward a close are:

1. Did I miss the market?
2. Is it too late to sell my house?
3. Are there any buyers out there still looking?

Here are the answers to those questions:

1. No
2. No
3. Yes

You didn’t miss the housing market. There is always a market. You may have missed some buyers anxious to buy a home before school begins. But, just because you may have taken a vacation this summer and didn’t think about real estate, does not mean that everyone else is not thinking about real estate.

As you already know, the real estate market is cyclical, and there are busy times and less busy times. But, Buyers buy, movers move, banks loan money. It is not just in the spring that the market is busy.

As most homes are on the market at least 45 to 90 days prior to the closing, this would mean that spring buyers made offers on the majority of the inventory last year during April through November.

It is never too late to sell your house. If you price your house according to the market and prepare it for sale as recommended by your real estate agent, you will be in good shape. You should also be prepping your home for sale if you are contemplating putting it on the market.  

There are always buyers.

The economy has been a concern, but this does not stop buyers from buying homes if they need and want a home. It may change what type of home they are buying, but it doesn’t stop them from buying. Life happens, people move, people get transferred, they have babies, they need a larger house, they need to downsize.

If you are contemplating selling your home, traditionally or through a short sale, contact Black and Buono for assistance, or references of real estate brokers in the Framingham area. We are happy to help.

...by Kiley Black

When buying or selling property, it is important to have the expertise of a real estate attorney to help you through any obstacles that may come up along the way. The risk of not hiring a Real Estate Attorney can cost a buyer/seller thousands if not tens of thousands of dollars. Since the purchase or sale of your home may well be your most significant financial transaction, you want to take care when entering into a real estate transaction.

Most people don’t realize how complicated buying and selling a house can be. The procedure requires reading and drafting complicated legal documents and familiarity with real estate transactions. If you have bought or sold a home, or know anyone who has, than you understand that the amount of paperwork involved is legendary. Each step from negotiating terms to drafting and closing entails a significant amount of paperwork.

Most people buy or sell a home once or twice in their life. Real Estate Lawyers handle this transaction every day. And each transaction is different, with different obstacles and situations.

The process of buying or selling a home includes the following:

1. Negotiating the terms of the Sales Contract. Everyone wants the best deal and a lawyer can help you protect your interests.
2. Strict legal deadlines: Many transactions fall through because deadlines are not met.
3. You need financing: At closing the purchaser signs hundreds of loan papers that an attorney can best explain.
4. Home inspections: A real estate lawyer will conduct a title search to assure the seller is the owner of the property, has paid all the taxes, and there are no judgments existing against the property.
5. Property and mortgage insurance: Mortgage lenders require that the home is insured

Don’t try to do this on your own. A buyer/seller should always have an attorney read the legal documents and explain those documents in laymen terms. You can be assured that your interests will be protected with Black and Buono.