Do you have additional questions? Contact a Stone Wall Real Estate Professional for answers at (978) 475-0077.
- What is a Seller's Agent?
When a seller engages the services of a listing broker, that seller become the realtor's client. The Realtor owes the seller undivided loyalty, utmost care, disclosure, confidentiality, and accountability. They put the seller's interest first and negotiate for the best price and terms for their client (the Seller).
- What is a Buyer's Agent?
When a buyer engages the services of a broker, that buyer become the realtor's client. The Realtor owes the Buyer undivided loyalty, utmost care, disclosure, confidentiality, and accountability. They put the Buyer's interest first and negotiate for the best price and terms for their client (the Buyer). One of the most common misconceptions that is shared by a large number of home buyers is that when working with a Realtor, he or she will "automatically" represent you as a buyer. Unless this is specifically disclosed in writing, in all probability the Agent will be representing the seller.
- What is Dual Agency?
This occurs when a Real Estate Agent or Agent(s) working for the same Broker each represent a buyer and a seller in a transaction. This situation must be disclosed to both the buyer and the seller. Privileged information (e.g. the price that a buyer will pay or a seller will sell at) cannot be disclosed to the other party without the express permission of that party.
- How Do I determine what the best value of my property is?
Your Experienced Stone Wall Real Estate Professional will complete a detailed search of all recent sales in your area as well as research all the properties that will be in direct competition with your house. All current market conditions will be considered and presented to you along with a recommended price range based on your properties full market value.
- What do I do if I am ready to sell now?
Call The Stone Wall Real Estate Professionals today at 978-475-0077 and let us do the work for you.
- What is the difference between the assessed value and the market value of my property?
The assessed value of a house is the town’s assessor’s opinion of the worth of a home at a given point in time. The Appraised value is when financing your new purchase, lenders require appraisals as part of the loan application process and as a Seller, you must make your house accessible for the Buyer’s lender to do a proper appraisal of your property or for refinance too.
Market value is what price the house will bring at a given point in time. A comparative market analysis would determine this value for you, based on sales of comparable properties and this is done by one of our Stone Wall Real Estate Professionals and a prepared report would be provided for you in about a few days. You must remember that your home's market value may be slightly higher or lower than its appraised value based on current market conditions. Generally in this region, your market value is higher than the assessed value.
- What is the difference between a pre-qualification and a pre-approval from my Lender?
A pre-qualification consists of a discussion between a home buyer and a loan officer. The loan officer gathers basic information regarding the home buyer's income, debts, credit history, and then uses this information to calculate an estimated mortgage amount for the home buyer. The pre-qualification is not a full mortgage approval, but estimates what a home buyer can afford.
A pre-approval, is a comprehensive and very thorough approach using basic information as well as documentations such as a credit report, proof of your income, etc. A Pre-Approval is a commitment from the Lender. The lender is then committing to financing the home you are purchasing and confirms what you qualify for.
- What is a Comparative Market Analysis?
A "CMA" as we call it is when you take active listings, pending sales, and closed sales in the last half year that are comparable to your property to help establish the current market value of your home.
- I have been receiving emails from you that match my search criteria, but the status code is confusing. What do each of these codes mean?
This is what the codes stand for through the Mutliple Listing Service: CODE = MEANING
NEW = New Listing
ACT = Active Listing
PCG = Price Change
BUP = Accepted Offer but taking Back Up Offers
UAG = Under Agreement
BOM = Back on the Market
RAC = Reactivated Listing
- What happens when I sign up for Mailings through your "contact us" page?
If you provide us with a search critiera and a valid email address, we will then place you on our update service and you will be receiving updates via email on a daily basis with any listings that match your search criteria. It is that simple!
