Archive for September, 2011

Buyer Questions for Seller – selling a home

September 11th, 2011 No comments

Questions a Buyer May Have For a Seller

There are many questions that a buyer may have for the seller but if it just sounds as if the buyer is being nosy, then the seller does not have to answer them.

Here are some of the questions that a potential buyer may have for the seller that they should answer.

• Questions about the offering price

a. How much did the seller pay for the house because the buyer is interested in knowing if the value of the home has gone up or down, not what type of profit the owner might be making?
b. How much the seller owes because if they owe more than the price they are asking, then the buyer may be looking at buying a short sale or the seller is going to need to bring money to the closing.
c. If any similar homes have sold in the neighborhood and how much they sold for because the appraiser at the buyer’s bank or mortgage company will be relying on these sales to compute the value if the seller’s home.
d. How many offers have been made on the house so the buyer will know how strong and aggressive they need to be with their bid to survive the competition and purchase the house?
e. How long the home has been on the market because if it has been more than sixty days, the buyer may be able to negotiate a discount on the house.
• Questions about the condition of the home
a. How old the roof is because most roofs have a life expectancy of fifteen to fifty years depending on the material.
b. What type of foundation the house is sitting on because with a raised foundation it will allow access under the house so you can reach the plumbing and electrical if there is a problem and there may be a basement. Most newer homes today are set on slab foundations
c. Does the walls and the attic have insulation because in a cold climate insulation is very important to help keep down the heating bill. The insulation should also have an “R” factor.
d. Have any of the systems such as the heating and/or air conditioning, or any of the appliances if they are leaving any behind, been replaced and when. If the older electrical and plumbing has been updated that is a big plus because that will mean fewer problems in the beginning. In addition, if they are leaving older appliances in the home, remember that some of them cannot be repaired because the parts to fix them are no longer available.

• Questions about the location of the home

a. What kind of other properties are located nearby such as apartment buildings, industrial or commercial properties can lower the value of the homes around them
b. What are the demographics of the neighborhood?
c. Where the schools are in the district the home you are considering buying because the potential buyer wants to know just how close or far it is get the children to school.
d. How close is a particular religious church, a shopping center, restaurants and more.
e. Are there any nuisance factors such as late night traffic from near by restaurants, traffic from nearby
stores, if there is a freeway near by do they hear the noise at night, etc.

• General questions

a. Why is the owner selling the home?
b. What is the seller’s final asking price?
c. How far is it to the closest public transportation?
d. If the seller has a mortgage on the home, is it assumable?
e. How much of a down payment or earnest money is the seller expecting
f. Would the seller consider selling on contract?
g. The approximate amount of the seller’s utility bill to heat and cool the home.
h. If the seller has any type of lien against the home.
i. Is there any deed or easement restrictions or nonconforming or zoning use?

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Information Seller must disclose when selling a house

September 11th, 2011 No comments

Seller Information

by Patricia Johnson

When you sell your home it is required by law to disclose anything that you are aware of that is wrong with the home. You will need to check the laws in the state you are selling your home because each state differs. The reason for these disclosures is that once the potential buyer knows about these defects or problems it may affect their decision to purchase the home or not. There must be a document listing all the pre-existing problems, dated, and signed by both the seller and buyer. In addition, of there is anything that could be potentially harmful to the buyer or to the home itself, it must be disclosed.

Although state laws vary, the federal law requires a lead paint disclosure if the home was built before 1978. The buyer has ten days to complete a lead paint inspection if they want to. If there has been a death in the home, a seller must disclose this fact in most states if it was not due to foul play or gruesome. You do not have to disclose the fact that there might be the presence of a ghost or a haunting by a former occupant of the home who has died there. If the death was caused by AIDS, in some states that should not be disclosed because a discrimination claim could follow after an AIDS death being disclosed.

Any potential external hazards such as ground pollution, noise pollution, natural hazards, air pollution, or fire hazards need to be disclosed in many states. Depending on the region the seller would have to disclose if the home is in a flood zone, if the home has earthquake damage, any type of insect infestation, zone changes, radon, or mold. With the high volume of methamphetamine labs being discovered today, some states now require the seller to disclose the knowledge of any pre-existing labs because the toxic chemicals from these labs can contaminate porous materials. Some of the materials include the plaster, walls, carpets, and counters.

If the home you are selling is a condominium or a townhouse and is in a planned unit development, the seller will have to disclose and provide the buyer with a copy of the homeowner association regulations and rules.
Before you write a disclosure, be sure to check with your state to see what needs to be disclosed so you will have a complete disclosure to share with the potential buyer.

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Selling your Home – Introduction

September 11th, 2011 No comments

Selling your Home – Introduction:

When you decide to sell your home, you have two choices. You can sell it yourself earning yourself a nice profit, or you can let a real estate agent do it and pay them a commission. If you sell it yourself you can save you between five and seven percent, which is an average of nine thousand dollars. The thing with selling your home yourself is that you have to wear many different hats.

When you sell your home yourself you need to make sure that you are educated on pricing, negotiation, advertising, marketing and closing. You must also negotiate with the bankers or Mortgage Company, the title company, and maybe an attorney.

In addition to getting an education on the above topics you have to get your home inspected, have it appraised, make sure that you are ready for open house, and so much more. All these topics, and more, will be discussed as part of this e-book.

There is a lot to do and it may sound complicated but after reading this e-book you will feel confident that you can sell your home yourself and keep that commission you would have given to a real estate agent.

This e-book will get you from point A, getting your home ready to sell to point B, the closing of the deal.

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How to Price Your Home

September 11th, 2011 No comments

How to Price Your Home

By Patricia Johnson

When you are considering selling your home yourself the one thing that you do not want to do is overprice your home. Today’s buyers are very price sensitive. If you overprice your home by one or two percent above the market value it will begin to lose its appeal to buyers after the first two weeks and by the end of the third week the interest in your home and the demand to see it is gone. In fact, you may not even get any offers or lookers. You do not have to worry about pricing it too low because the homes that are below the actual market value will normally receive multiple offers which can drive the price up to market value. In the end pricing a home is all about supply and demand. Make sure that before you set a price that you get your home inspected and appraised.

Tips on Pricing Your Home

Using factors such as the size of your home, the age or your home, and the condition of your home are meaningful points for a potential buyer so when you are ready to price your home take these factors and compare your home to other homes on the market with the same factors.

The next factor that needs to be taken in consideration is what are your needs because financing and time both have something to do with how you price your home. For example, if you want to get top dollar for your home you may have to wait for the right buyer to come along but if you have to sell in a hurry because you have to move due to your job or divorce you may have to plan a quick sale price.

If you are fortunate to offer an attractive assumable mortgage or easy seller financing this can be reflected in a higher selling price.

You also need to know your market because prices may rise rapidly and you may be able to get a higher asking price if you find eager buyers. If it is a buyer’s market where there is a large supply of homes but little demand then your home may sit on the market for awhile even if it is fairly priced.

There are also websites such as and that you can visit to give you an idea of what your home is work You can also ask a real estate agent to visit your home and give you a free comparative market analysis before you set your price. If it would be possible, try to get a marketing analysis from three different agents. If there are other homes for sale in your neighborhood and they have an open house, you can go to them and see what their homes are selling for to get a comparison for your price.

Since you are selling your home yourself you are saving on commissions so when you are figuring a price to put on your home, you can subtract a part of the commission you are saving from the price you are going to ask for your home. How much of the commission to subtract is up to you but most will figure the percentage they are saving and take have of that percentage off. For example, if you are saving eight percent, then you would take four percent off the price you want to ask.

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Where for file Annual Report in Massachusetts

September 11th, 2011 2 comments

Where to Annual Report in Aassachusetts

Sara asks this question

In an attempt to search for the term “Where to Annual Report in massachusetts” or “where to file minutes fo meeting in MA” or “Where to file minute of meeting in massachusetts” – we did not find any relevant information when searching for it.

I own a small corporation and what I have heard is that I need to file a report or an Annual minutes of meeting with the State government. But I could not find where to file it or how I could do it ?

Answer –

Sara, thanks for contacting us for your question.
Each Corporation in the Massachusetts state is required for file a Minutes of meeting report. The corporation is required to pay a fee of $125 alongwith the minutes of meeting report.

Go to this

State Government Annual Report

Enter your Customer ID Number and Pin Number

Your filing is ready to print. Please, print the filing image located on the left (by clicking on a button that looks like this ) and sign it.
Please, check “Print as Image” option after you click on the print button. Make sure barcode is present on the printed filing otherwise we will not be able to process it.
Issue a check in the amount of $125.00 (plus $25 late fee, if applicable) payable to the Commonwealth of Massachusetts.
Attach the check to the document and mail both to:
Secretary of the Commonwealth
Attention: Annual Report – AR85
One Ashburton Place, Room 1717
Boston, MA 02108-1512

If you have any questions you may contact our office at (617) 727-9640 or e-mail our support desk at

Every corporation is required annually to file a report of condition which MUST be in the Office of the Secretary of the Commonwealth ON or BEFORE the 15th day of the third month after the close of its fiscal year. Failure to meet this deadline will result in assessment of a late fee of $25.00. The report of condition must be signed under penalties of perjury by an officer of the corporation, in such form as the Secretary of the Commonwealth shall require, in accordance with the following instructions.

© 2001 – 2011 Commonwealth of Massachusetts
All Rights Reserved

The Compliance Services Fraud

Notice that you may be getting a solicitation from a company called “Compliance Services”, which asks you to fill up a form that “looks like” an official form. It asks you to send $125 alongwith the completed form to the address at

Compliance Service
71 Commercial St.
Postal Main Box 241
Boston MA 02109

This is a fraud and a caution has been posted on the Mass Government website.

It asks the check to be made in the name of “Compliance Service” and says that “All information will be treated as private and confidential. This seems like a fraud and the police and the investigation agencies may like to investigate it.

The “document” sent by the so called “Compliance Services” has two parts. The first part is the form itself and the second part is the instruction. The form is named “CS MIN-MA11-1”.

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