Found 9 blog entries tagged as sellers.

ADU


Accessory Dwelling Units (ADUs), also known as accessory apartments, in-law apartments, or granny flats, are small, self-contained residential units that are located on the same lot as an existing single-family home. In Connecticut, ADUs are allowed in some towns and cities, but not all.

ADUs are designed to provide affordable housing options for families or individuals who want to live close to their loved ones or generate additional rental income. These units can be attached to the main house or detached and can be used for a variety of purposes, such as rental income, multigenerational housing, or additional space for a home-based business.

In Connecticut, the state legislature passed a law in 2021 that requires all towns and cities to…

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Stonington Borough is a charming coastal town located in the southeastern corner of Connecticut. The real estate market in Stonington Borough is known for its mix of historic homes and waterfront properties, situated between many local businesses, shops, and restaurants.

One of the biggest draws of the Stonington Borough real estate market is its waterfront properties. The town is situated on the Long Island Sound and has several marinas, making it a popular spot for boating and water activities. Many homes in Stonington Borough offer spectacular waterfront views and have easy access to the water. These properties can be quite expensive, but they offer a unique lifestyle and a chance to enjoy all the water activities.

The town also has a…

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How to prepare for your home inspection

Home Inspection

So, you’ve listed your home, found a buyer, and accepted a purchase price. The sale of your house is almost a done deal, but it’s not quite time to pack the moving boxes yet – you still have to make it through the home inspection.

In a typical real estate transaction, the home inspection occurs after the buyer has signed a purchase agreement and before the final closing date. Most home buyers choose to make the closing contingent on the results of the home inspection, meaning that they can back out of the sale if the inspector finds something that is not to their liking and the seller is unwilling to repair it or lower the purchase price to account for it. As a seller, you will want the home inspection to…

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There is overwhelming news and media coverage regarding today's real estate market. It seems that, based on most coverage out there, it's both a great time to buy and a great time to sell. Social media is the same narrative, everything is great for everyone. When the world is telling you to have your cake and eat it too, something isn't right. So what is the truth? 

Let's take off the rose colored glasses for a moment and look at the numbers and what's driving them, interest rates. In less than a year, rates went from historic lows in 2021 to 30-year highs today. To illustrate the effect of rates on today's market, let's examine what your mortgage payment will be in three different mortgage scenarios. Fair warning; you will be grossed out

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SHOW YOUR WORK

By Buddy Kane

 

 

 

Got a call last week from a past client interested in selling one of his properties. Having dealt with him previously, I was well versed in his fly by knight style and approach. Upon fielding his inquiry, I listened with an experienced awareness, knowing what cues to look for that would help me cut through an extended dialogue and boil it down to exactly what it was he wanted from me. What ensued from this point was an opportunity to apply an evolving philosophy I’ve learned the hard way over a longer period of time.

First, some background to provide context. Looking back on my student years, school was not my finest hour, aside from some extra-curriculars. Academics was never a strong suit of…

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New to Market – Formerly known as the McCulloch Horse Farm, 100 Whippoorwill Rd in Old Lyme has been offered up for sale by Seaport Real Estate Services in an Auction proceeding. This method will be administered through an online bidding process that takes place over the course of 30 days. Contrary to a traditional brokerage sale, an Auction approach positions the initial offering price significantly lower than the current fair market value. This incites a heightened level of demand, creates a competitive environment, attracts multiple buyers, and drives the price of the property up rapidly over a pre-determined period of time. All necessary due diligence on behalf of interested buyers is performed prior to the close of Auction. Once the winning bid…

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Salespeople are typically focused on being transactional and closing more deals. Fiduciaries use a consultative approach, putting a client’s best interest in mind even if it means disclosing info that will kill a deal. Fiduciaries won’t place their commissions before your best interest. Unfortunately, many agents in our market are experienced at selling themselves. The real estate industry over the years has become less about the customer and more about the number of transactions an agent closes.  Some of the blame can be directly correlated to real estate coaching which has become big business and focuses on “Closing the Deal” as opposed to solving a client’s problem.  Big Real Estate coaching companies train agents to become adept at answering…

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What’s the Difference Between a Seller’s Market and a Buyer’s Market? As we begin 2019, if you are about to start looking for a home, you may come upon these terms. Beyond a simple definition for each of these, it is very important to know the different factors that define each, and how the different markets can impact a buyer.  This article will examine these areas.

Seller’s Market Defined

A seller’s market exists when there are many more buyers seeking to purchase than there are homes available on the market. Stated differently, there are less houses available to satisfy a larger pool of buyers in the marketplace. This lack of listing inventory leads to rapid (at times excessive) price appreciation, very quick closings, many cash buyers,…

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 Chances are good your buyers are not approved at all…they’ve only been pre-qualified

Shocking headline, isn’t it?  Hard to hear the truth sometimes, but I am going to tell you that in my experience, the bulk of Pre-Approval letters being given to Real Estate agents by Loan Originators are just plain worthless.  They are being written to get the buyers a house, but the protection/reassurance the seller is looking for that tells them the buyers really are qualified does not exist.  Welcome to Fantasy Island.

My intention in writing this is two-fold: first, to let you know about this situation, and second, to give you some suggestions for getting a comfort letter that is worth the paper it is printed on.

Frequently a Realtor will refer me one of…

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