1. How do I sell my current home and purchase a new one simultaneously?
   First you will want to put your current home on the market. While your home is actively on the market, you and your agent should be selecting new properties that interest you. I advise sellers to start looking at new houses once their current home is under agreement. There is no sense in looking at properties when you do not have a buyer for your current home. Most homeowners will not accept an offer from you while your current home is still actively on the market. Also, you may fall in love with a home that is no longer available once your home has an accepted offer. From there on, it is hard not to compare homes to the one you ”lost”.
    

2. What will selling my home through a real estate agent cost me?
   The biggest cost will be the real estate commission. This fee varies from area to area, from company to company. Most companies charge one commission and pay the buyer’s agent out of this fee. Tetrault Realty is proud to offer our clients a reduced commission for in house sales. This means that when we produce a buyer (rather than from another company) we can charge you less. After all, if we have to pay out less in commissions, than that savings should be passed onto you! Be sure to ask agents that you interview how this process is done with their company.
   Standard fees for a transaction include state tax stamps (In Massachusetts currently $4.56 per thousand of the sales price (June 8, 2010)), deed prepration and recording fees. In addition, any liens or mortgages will be required to be paid in full at the time of closing. Replacing septic systems can be another cost to sellers.
    

3. I owe more on my home than it is worth, what are my options?
   Like many homeowners, with values decreasing, you are under water on your mortgage. If you can ride it out until values increase, then that is the best option.
   However, if you need to sell, a short sale is the next step .This is when your mortgage lender allows you to sell your home for less than what you owe. We also recommend that you consult an attorney and CPA to determine how this might affect your financial situation. We can help you negotiate with your lender for a short sale.
    

4. How should I get my home in ready to sell condition?
   Keep it Simple and Clean! Studies have shown that cleaner homes and those with less clutter sell for more money. Take down personal pictures and give the walls a fresh coat of paint. This will work wonders for very little money.
   Also, pay attention to the outside. A poorly landscaped home will detract potential buyers. They will think, “If this is what the outside looks like, then I can only imagine what the inside looks like.” This may be the opposite of the truth for your home, but you just lost a potential buyer because the yard needs to be raked or the flower beds need weeding.
   Put some fresh paint on the front door and maybe add a new mailbox and outdoor lights. Flower pots with brightly colored plants add great curb appeal. You only get one chance to make a first impression, do it right!
   
    

5. I want to start off with a higher sales price to “test the waters”, won’t this get me a higher sales price?
   Be very cautious of any real estate agent that encourages you to test the waters with a higher than recommended sales price. This is a practice known as “buying a listing”. Most likely that agent knows that your home will actually sell for much less and intends on talking you down on the sales price over time. However, lowering your price is like catching a run away train. All of the truly interested buyers passed on your home when it was over priced and most likely have found something else. The remaining buyers wonder why your home has been on the market and keeps lowering the price. Your home has now been judged as a property that has “something wrong with it.”
   
   Price it right, create a sense of urge for buyers to place offers. After all, with most buyers working with buyer agents and the internet, they know how much your home is actually worth even if you don’t!

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