Deborah Byrne - Berkshire Hathaway HomeServices Verani Realty Somerville
Accolades include: Government Certified, Performance Certified,Top 4% Sales Nationwide, Chairmans Circle, Presidents Circle, Relocation Director, Notary Public, Realtor®, CRS, CBR, CDPE, LMC, Energy Star Certification, Foreclosures MASS Certification, AHWD, CSP, SRES and RECS Top Producer in Massachusetts Awards
617-201-4730 | dbyrne2510@yahoo.com


Posted by Deborah Byrne on 8/21/2017

Selling your house in a short amount of time has so many advantages. The sooner you sell your current house, the sooner you can move into your dream home. An early sell also keeps you from taking on additional debt, especially if you are moving to start a better job, gain more space or relocate to a safer neighborhood.

Take these precautions when selling your home to a family member

Selling your home to a family member could be a quick way to a house sell. But, there can be drawbacks. To avoid entering a bad deal with a relative, consider taking the following precautions:

  • Run a credit check on the relative - Don't assume that a family member is financially responsible. Also, don't assume that just because a relative has a high paying job that his credit score is good. If you're selling the house direct, without working through a realtor, accept what the lender says when they tell you that the relative is a high credit risk.
  • Leave the legal aspects of the deal to the lender - Make sure that your relative goes through the entire home loan process with a lender. Avoid creating "outs" for your relative, this includes taking on another mortgage and letting the relative pay you monthly payments.
  • Give your relative a great home - Just as you don't want a relative to buy your house then back out when it comes time to sign the contract, commit to giving your family member the best house. Get the home inspected. Tell your relative about issues with the house. Avoid keeping the fact that the roof or the basement leaks during hard rains a secret.
  • Be honest about the neighborhood - Even if your relative visits during major holidays, they don't live with you. Tell your family member if neighbors play their music loudly on weekends or late at night.
  • Sell your house at a competitive price - This could be one of the trickiest parts of selling your home to a family member. As tempting as it might be, avoid shaving thousands of dollars off the price of your house to make your home more affordable for a relative or to save your family members money.
  • Stay away from the desire to impress - Keep your house in good condition. But, don't pay to add rooms onto your house because you want to impress a family member with the size or style of the house.

Selling your home to a family member can pay off

Selling your home to a family member is an easy way to find a buyer. It can save you advertising and marketing money. It can also keep you from having to take on a realtor and pay commissions. But, there are challenges to look out for when selling your home to a family member. You can avoid or overcome these challenges by setting clear boundaries up front. Let relatives know that they must adhere to the same home buying rules as a non-family member.

This means you pay attention to a relative's credit rating. If you know that a relative is not good at meeting her financial obligations on time, consider walking away from the deal. By making sure that you work with a relative who is not only financially responsible but who also takes full responsibility for themselves and what they own, you could increase the likelihood that the house will betaken care of, which could potentially keep the property in your family for generations.





Posted by Deborah Byrne on 8/14/2017

For many people, owning one home is enough. Even if a house is paid for, many people simply don't want the responsibility of taking care of two houses. They don't want the hassle of mowing two lawns, shoveling snow at two properties and repairing and replacing materials and appliances like roofs, automatic garage door openers and washers and refrigerators.

Work isn't the only thing driving people to buy two or more homes

But, there are instances where even two homes may not be enough. A job that requires frequent cross country travel is one time when owning one house may not be enough. This situation is familiar to entertainers and professional athletes.

Yet, people who don't entertain or compete at professional sports levels have bought a second or third home. Comfort isn't the only reason why these people take on more than one mortgage. Additional reasons besides frequent cross country travel that these and other Americans buy a second or third home include:

  • Estate - Few things may be as helpful to adult children as the chance to own a house without taking on mortgage debt. To give their adult children this benefit, some Americans buy several houses and will them to their children.
  • Taxes - Regardless of where a house is located, the property is attached to a tax write-off.
  • Bi-coastal living arrangements - Military couples and other people may live in different regions of the country. Living out of a hotel for months at a time is too expensive. To combat hotel costs, bi-coastal couples may buy another house.
  • Vacation home - It's not uncommon for Americans to buy or rent a vacation home like a shore house.
  • Business - A second home can be used to operate a business out of.
  • Extended family - If an in-law suite isn't large enough, a couple could buy their aging parents a separate house nearby.

Flipping houses isn't the only reason why people buy multiple houses

The chance to live turnkey at two or more locations, especially at locations that are far apart, can save you the hassle and the cost of paying for and checking in and out of hotels. Your adult children and relatives can visit you more, as they'll have more than one place to visit you at.

Pay off two or more houses and you may have more equity to pass along to your children. You may also have enough real estate to get approved for a business loan should your passion and vision be to launch a startup company.

Regarding business ownership, you may benefit from buying two or more houses in order to use one of the houses solely to operate your business. For example, you could use the house to manufacture jewelry, clothes, shoes or other products that you market and sell.

It may be overlooked, but owning multiple homes isn't just for people who flip houses. Owning multiple houses is also for people who want to build real estate equity, will a separate home to each of their children or have a space to operate a company without having to take on corporate real estate costs.




Tags: two homes   one house   one home  
Categories: Uncategorized  


Posted by Deborah Byrne on 8/9/2017


2 Hammersmith, Saugus, MA 01906

Single-Family

$599,000
Price

9
Rooms
4
Beds
3
Baths
++++OWNER WILL ENTERTAIN OFFERS FROM $599,000 TO $685,876++++ Welcome Home to this incredible custom split entry with newer addition with vaulted ceiling and skylights. This outstanding gem offers 9 rooms 4 bedroom 3 baths with over an acre of land located in prestigious Hammersmith Village. Custom granite kitchen offers subzero fridge with all newer bosh appliances. 3 fireplaces 1 wood and 2 propane joutul gas stoves; central air, central vac, security system, sprinkler system with new furnace , hot water heater as well as new roof and gutters and oversized 2 car garage! Enchanting custom grounds with custom decking! First Showing Sunday August 13th from 1-2:30. All offers due Tuesday August 15th by 5 pm. No exceptions please.
Open House
Sunday
August 13 at 1:00 PM to 2:30 PM
Cannot make the Open Houses?
Location: 2 Hammersmith, Saugus, MA 01906    Get Directions

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Categories: Open House  


Posted by Deborah Byrne on 8/9/2017

++++OWNER WILL ENTERTAIN OFFERS FROM $599,000 TO $685,876++++ Welcome Home to this incredible custom split entry with newer addition with vaulted ceiling and skylights. This outstanding gem offers 9 rooms 4 bedroom 3 baths with over an acre of land located in prestigious Hammersmith Village. Custom granite kitchen offers subzero fridge with all newer bosh appliances. 3 fireplaces 1 wood and 2 propane joutul gas stoves; central air, central vac, security system, sprinkler system with new furnace , hot water heater as well as new roof and gutters and oversized 2 car garage! Enchanting custom grounds with custom decking! First Showing Sunday August 13th from 1-2:30. All offers due Tuesday August 15th by 5 pm. No exceptions please.

More Info on this Property | New Listing Alerts




Categories: Uncategorized  


Posted by Deborah Byrne on 8/8/2017


2 Hammersmith, Saugus, MA 01906

Single-Family

$599,000
Price

9
Rooms
4
Beds
3
Baths
++++OWNER WILL ENTERTAIN OFFERS FROM $599,000 TO $685,876++++ Welcome Home to this incredible custom split entry with newer addition with vaulted ceiling and skylights. This outstanding gem offers 9 rooms 4 bedroom 3 baths with over an acre of land located in prestigious Hammersmith Village. Custom granite kitchen offers subzero fridge with all newer bosh appliances. 3 fireplaces 1 wood and 2 propane joutul gas stoves; central air, central vac, security system, sprinkler system with new furnace , hot water heater as well as new roof and gutters and oversized 2 car garage! Enchanting custom grounds with custom decking! First Showing Sunday August 13th from 1-2:30. All offers due Tuesday August 15th by 5 pm. No exceptions please
Open House
No scheduled Open Houses

Similar Properties





Categories: New Homes  




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