Five College REALTORS ®



Posted by Five College REALTORS ® on 2/17/2019

In a high competition market, you may be tempted to do whatever you can to entice the seller to accept your offer. Buyers write offer letters, provide large down payments, or waive the inspection. Sometimes, this strategy includes removing contingencies from your contract. 


Beware. Removing contingencies can easily become a nightmare for you as a buyer. Certain contingencies should be kept no matter how much you think you should waive them for enticement. 


The Home Inspection Contingency


This contingency is basically universally recommended by realtors everywhere. This contingency allows you to get a licensed home inspector who will check the property. The inspection typically should be done about 7 days from the time you sign the purchase agreement for the home. 


Following the inspection, you as the buyer can request that the seller make certain repairs. The seller can either make the repairs or provide a counter offer. If you’re not satisfied or cannot reach an agreement, you can back out of the deal and still get your money back. 


Without this contingency, you’ll never know what’s wrong with the home until you move in it. It’s a huge risk to take to move into a home without understanding all of its moving parts. Is the roof stable? Has the basement flooded? Will the appliances last? There are plenty of questions that you might have about a home that can be answered simply through an inspection. 


Financing Contingency


This is an important contingency. Your offer on the property will depend on being able to get the financing you need to purchase the home. With this protection in place, in the event that you can’t get a loan, you’ll get your deposit on the home back. Be sure that the clause specifies the number of days that would be recommended by your lender to have the mortgage approved.   


Appraisal Contingency


This could be the most important contingency of all. This protection could possibly save you thousands of dollars of a headache. Once an offer is accepted on a home, you’re far from done. The lender will typically order an appraisal. If the appraisal comes in lower than the offer you made on the home and agreed to pay, you may have some problems. 


The lender will only lend you what the house is worth. If the appraisal comes in lower, you’ll need to make up for tens of thousands of dollars out of pocket. Make sure you have an appraisal contingency included in your contracts!  


As you buy a home, remember how important contingencies can be in the process.            




Categories: Uncategorized  


Posted by Five College REALTORS ® on 2/14/2019


123 South St, Northampton, MA 01060

Condo

$299,900
Price

6
Rooms
2
Beds
1
Baths
Natural light, modern, and open space. This spacious condo with a flexible floor plan is in the heart of downtown Northampton! This is truly a property not to missed. Located on the second floor and on the edge of Smith College campus and just seconds from the Academy of Music, this condo's 26 windows offer both abundant light and sunrise and sunset exposure with east, south, west. Other perks include newer birch cabinets, gorgeous concrete countertops, SS appliances with wine cooler. French doors conveniently divide the space. There is a cheerful porch, hardwood floors, and extra storage in basement. This apartment includes one off-street parking spot and the convenience of on-site washer and dryer. Minutes from Rt 91 and from the bike path along with everything that Northampton center has to offer!
Open House
Saturday
February 16 at 12:30 PM to 2:00 PM
Cannot make the Open Houses?
Location: 123 South St, Northampton, MA 01060    Get Directions

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Tags: Northampton   Real Estate   Condo   01060  
Categories: New Homes  


Posted by Five College REALTORS ® on 2/14/2019


123 South St, Northampton, MA 01060

Condo

$299,900
Price

6
Rooms
2
Beds
1
Baths
Natural light, modern, and open space. This spacious condo with a flexible floor plan is in the heart of downtown Northampton! This is truly a property not to missed. Located on the second floor and on the edge of Smith College campus and just seconds from the Academy of Music, this condo's 26 windows offer both abundant light and sunrise and sunset exposure with east, south, west. Other perks include newer birch cabinets, gorgeous concrete countertops, SS appliances with wine cooler. French doors conveniently divide the space. There is a cheerful porch, hardwood floors, and extra storage in basement. This apartment includes one off-street parking spot and the convenience of on-site washer and dryer. Minutes from Rt 91 and from the bike path along with everything that Northampton center has to offer!
Open House
Saturday
February 16 at 12:30 PM to 2:00 PM
Cannot make the Open Houses?
Location: 123 South St, Northampton, MA 01060    Get Directions

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Categories: Open House  


Posted by Five College REALTORS ® on 2/14/2019


20 Vista Terrace, Amherst, MA 01002

Single-Family

$589,900
Price

7
Rooms
3
Beds
2/1
Full/Half Baths
Discover the beauty of this new development - Hartswell Farm - located just South of Atkins Farms! Tucked on a private, non thru street and sporting a total of 8 new homes, the quality throughout this premier Cape is unmatched. A large open first floor sports a handsome sunlit living/dining room, kitchen with island,granite counters and stainless steel appliances, half bath, laundry and first floor master bedroom with walk in closet & bath - screened porch a plus! Two bedrooms with bath and a reading nook are located upstairs where the option of finishing a bonus room with an additional 576 sq ft above the garage is available. Perfect for the active hiker - this development connects to trails on the Mt Holyoke Range. Located in close proximity to major routes and shopping, it's a short walk to Hampshire College, minutes to area schools. Under construction now, time is available to customize and make this your dream home - a magical setting, matchless in todays market place!
Open House
Sunday
February 17 at 12:00 PM to 2:00 PM
Cannot make the Open Houses?
Location: 20 Vista Terrace, Amherst, MA 01002    Get Directions

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Categories: Open House  


Posted by Five College REALTORS ® on 2/13/2019


59 Woodlot Rd, Amherst, MA 01002

Single-Family

$549,900
Price

10
Rooms
4
Beds
3/1
Full/Half Baths
Offering an open, flexible floor plan, this desirable Contemporary has something for everyone. Nestled on a partially wooded .62 acre lot the rear yard is perfect for back yard fun and entertaining - large deck and front porch a plus! Gleaming hardwood floors are found throughout much of the first floor where a plethora of light is found daily. An open, large kitchen includes an island with seating as well as a separate dining area - the heart of the home. Living and family room both offer wood burning fireplaces. The sun room takes in the western sunsets and is a peaceful,quiet room. This central location is minutes to area colleges, shopping, major routes and town center. Bike path and hiking trails are just outside your door - the perfect place to hang your hat!
Open House
No scheduled Open Houses

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Categories: New Homes  




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