How to Deal with Offers Over Asking

These days, selling a home can feel like hosting an auction. There are more buyers than sellers, and the inventory is at an all-time low. Although you may receive offers way over asking price, there are some things to pay close attention to in order to ensure a successful transaction.

You should negotiate terms into the offer to protect yourself as a seller.

Most buyers are going to need financing. The loan-to-value ratio scale that lenders use is based on the listing price OR the appraised price—whichever is lower. So the borrower may only be able to secure 80% of a value that doesn’t necessarily match their offer price.

Make sure your buyer understands they may be fully responsible for the difference out of pocket. Be transparent to make sure your closing happens without unfortunate surprises.

To schedule a time to strategize, visit: Calendly.com/mstiles

You can always contact Stiles Law by calling (781) 319-1900 or visit https://stiles-law.com.

Copyright © 2021 Stiles Law, All rights reserved. Stiles Law is a Massachusetts licensed law firm and all content is based on Massachusetts law. The information presented above is meant to be used for general informational purposes and it should not be construed as legal advice or legal opinion on any specific facts.

Have an Interest in the Gig Economy? | Traveling Notary

By now you might be familiar with the term “gig economy.” More and more people are becoming independent contractors and ultimately, small business owners. These individuals generally have their own tools and are responsible for their own tax obligations for their business.

We’re getting involved in the gig economy with regards to our remote closing process. We’re on the hunt for traveling notaries who can assist in these remote closings. Connect with us if you or someone you know is interested!

You can always contact Stiles Law by calling (781) 319-1900 or visit https://stiles-law.com. Contact jpitts@stiles-law.com on the subject of notaries.

Copyright © 2021 Stiles Law, All rights reserved. Stiles Law is a Massachusetts licensed law firm and all content is based on Massachusetts law. The information presented above is meant to be used for general informational purposes and it should not be construed as legal advice or legal opinion on any specific facts.

Calling All Attorneys! | Real Estate Attorney in Resident Program

 

Calling all attorneys!

In the wake of the 2008 market crash, many real estate attorneys left the field to pursue other types of law. As a result, there’s still a gap that they left behind.

We know real estate law isn’t easy to break into, so we’ve created a real estate attorney in resident program to assist attorneys to find their way in. We know there are people out there who fit the bill. Schedule an appointment to discuss further!

Calendly.com/mstiles

Copyright © 2021 Stiles Law, All rights reserved. Stiles Law is a Massachusetts licensed law firm and all content is based on Massachusetts law. The information presented above is meant to be used for general informational purposes and it should not be construed as legal advice or legal opinion on any specific facts.

Purchase & Sale Agreement Overview (MA)

 

We know buying and selling homes comes with heaps of seemingly endless paperwork. So let’s make it easier… what are the most important bits to focus on in that P&S?

It may seem obvious, but you’ll run into problems if your name or the addresses of the properties involved are incorrect on the P&S. Double check those as well as the agreed-upon purchase price. Building and structures provisions are important to consider as well as the bulletproof and unchangeable date of your closing.

Pay special attention to the Mortgage Contingency Clause too. If you are obtaining financing, this date is extremely crucial to keep in mind to get your mortgage commitment from your lender professional in order.

If you have any further questions about Purchase and Sale agreements, contact Stiles Law by calling (781) 319-1900.

Copyright © 2021 Stiles Law, All rights reserved. Stiles Law is a Massachusetts licensed law firm and all content is based on Massachusetts law. The information presented above is meant to be used for general informational purposes and it should not be construed as legal advice or legal opinion on any specific facts.

Real Estate Tax Abatement in MA 2021

 

Did you know it’s real estate tax abatement season in MA? You have until the end of January to challenge your town real estate taxes. If you feel the assessed value of your property (not to be confused with the appraised value) has gone up too significantly without valid reasoning within the last year, you can file an abatement to mitigate that cost.

But how do you do this? What do you need to know and research before deciding to go forward with this? What are the risks to consider?

Click here for MA RE tax Abatement Application

If you have more questions about tax abatement, contact us by calling (781) 319-1900 or by visiting https://stiles-law.com. And subscribe to our channel!

Copyright © 2021 Stiles Law, All rights reserved. Stiles Law is a Massachusetts licensed law firm and all content is based on Massachusetts law. The information presented above is meant to be used for general informational purposes and it should not be construed as legal advice or legal opinion on any specific facts.

Happier New Year 2021

 

What are your 2021 goals? How can we help you achieve them? Don’t be afraid to reach out for a quick consultation call at Calendly.com/mstiles if you’re interested in investing, mediation, estate planning, purchasing or selling. We look forward to providing you with even more exciting and valuable content in the upcoming year.

The story of the deaf frog video: https://www.youtube.com/watch?v=KqTGkUUA3YU&ab_channel=RyanChamberlin

Private Facebook group for MA real estate professionals: The Real Estate School @ 892  https://www.facebook.com/groups/2089803187978341

Copyright © 2020 Stiles Law, All rights reserved. Stiles Law is a Massachusetts licensed law firm and all content is based on Massachusetts law. The information presented above is meant to be used for general informational purposes and it should not be construed as legal advice or legal opinion on any specific facts.