RE/MAX Executive Realty



Posted by RE/MAX Executive Realty on 6/9/2019

If this is your first time buying a home, you might feel a bit intimidated by the purchase contract. Contracts are often filled with industry and legal jargon, making them difficult to understand for the average buyer and seller.

Contingencies in particular give some buyers cause for concern because their contract depends on the contingencies being fulfilled. However, in most cases contingencies are pretty standard and only serve to protect the interests of both the buyer and seller during a real estate transaction.

In todayís post, Iím going to give you an introduction to contingency clauses and break down some of the most common contingencies youíll find in todayís real estate purchase contract.

Contingency clause definition

Simply stated, a contingency clause is a statement within a contract that requires a certain event takes place before the contract is considered legally valid. As a result, contingency clauses are used to cancel or invalidate a contract if certain conditions arenít met before the sale is made final. So, if one party fails to meet the obligation of the contingency, the other party is no longer bound by the contract (or required to buy or sell the house).

Contingencies can get confusing when they are vaguely worded in the contract, making them difficult to interpret. In these cases, a court may decide the specific meaning of the clause or determine that it is too vague to be legally upheld.

The other instance in which contingency clauses can be confusing is when a party includes a contingency that is atypical for a real estate purchase contract. Buyers and sellers alike should be wary of unusual contingencies.

The main contingencies

  • Appraisal contingency. Designed to protect the buyer, appraisal contingencies require that a home is appraised at a minimum amount, which is stated in the contract.

  • Financing contingency. Another contingency geared toward protecting buyers is the financing contingency. It states the number of days that a buyer has to secure financing for the home. This allows the buyer to cancel the contract (and offer) if theyíre unable to secure suitable financing for the home.

  • Inspection contingency. One of the most important and most common contingencies is the inspection contingency. It allows the buyer to have the house inspected by a licensed professional within a certain number of days. This protects the buyer against unforeseen expenses and repairs that will need to be made in the near future.

  • House sale and kick-out contingencies. A house sale contingency gives the buyer a certain number of days to sell their home before financing a new one. However, since this can be a risky clause for sellers, a kick-out clause is often included. This contingency allows the seller to keep the home on the market and entertain other offers while the buyer secures financing and sells their other home or homes.





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Posted by RE/MAX Executive Realty on 6/2/2019

Filling out a mortgage application may prove to be a long, arduous process, particularly for those who are buying a house for the first time. Lucky for you, we're here to help you dot the I's and cross the T's on your mortgage application to ensure you can quickly and effortlessly acquire your dream house.

Now, let's take a look at three tips to help you prepare your mortgage application.

1. Be Diligent

A mortgage application may appear daunting at first. The application may include several pages of questions, and you may have only a limited amount of time to finalize your submission.

When it comes to completing a mortgage application, it generally pays to be diligent. If you answer each mortgage application question to the best of your ability, you likely will have no trouble moving forward with your home purchase.

2. Avoid Guessing

If you're uncertain about how to respond to certain mortgage application questions, there is no need to guess. Instead, search for the information that you need to provide a comprehensive response. This will help reduce the risk of encountering potential problems down the line that otherwise could slow down your home acquisition.

Remember, guessing on a mortgage application probably won't do you or your lender any favors. But if you allocate the necessary time and resources to understand mortgage application questions and provide thoughtful responses, you can minimize the risk of application errors.

3. Ask Questions

Completing a mortgage application sometimes can be tricky. Fortunately, a lender employs mortgage specialists who are happy to respond to your application concerns or questions at any time.

If you're unsure about information that is requested on a mortgage application, don't hesitate to reach out to a lender's mortgage specialists for help. These specialists possess extensive mortgage expertise and can help you complete a mortgage application.

Furthermore, mortgage specialists can offer insights into a wide array of mortgage options. These specialists can explain the differences between fixed- and adjustable-rate mortgages and enable you to select the right mortgage option based on your financial situation.

As you prepare to buy a house, you may want to consult with a real estate agent as well. In fact, with a real estate agent at your side, you can seamlessly navigate the homebuying process.

A real estate agent understands exactly what it takes to acquire a house, regardless of the finances at your disposal. This housing market professional can set up home showings, help you submit offers on houses and ensure you can purchase a residence that matches or exceeds your expectations. And if you need help getting a mortgage, a real estate agent may even be able to connect you with the top lenders in your city or town.

Ready to move forward in the homebuying journey? Use the aforementioned tips, and you can finalize a mortgage application and secure the financing that you need to acquire your ideal residence.




Tags: Buying a home   mortgage  
Categories: Uncategorized  


Posted by RE/MAX Executive Realty on 6/2/2019

In the gray days of winter, everyone can benefit from some additional sunlight. Take advantage of the well-documented medical and psychological benefits of sunshine and the vitamin D it generates. Sure, you can open your windows, but then you lose that privacy. You can split the difference with a skylight or a light tube that allows light to come down from the roof of your home.

What is a Skylight?

A skylight is a window that opens up to the sky through the ceiling and roof of your home instead of out the side wall. Skylights come in a variety of styles from clear to frosted or patterned. Some even open and may include fans to help increase ventilation. Skylights must reach all the way through the roof to get access to that sunshine, so they require rooftop placement. That means single story properties can have kitchen skylights, but your two-story home limits skylights to upstairs bedrooms or an office. 

Skylights can be as simple or as fancy if you like. Just want some light? Go with a simple glass pane. Want some architectural detailing? Try a domed skylight or one with built-in shades or blinds. You can even get smart skylights that respond to apps on your phone or open and close on a schedule or with the predicted weather.

How about a Light Tube?

Light tubes differ from skylights because they reflect light down through a variety of tubes using mirrors. This structure removes the "view" element entirely and opens up a variety of locations that wouldn't work for skylights. One of the best features of light tubes is that the rooftop location doesn't have to be directly above the interior position. A lot of modern light tubes come with LED lights, so they work whether or not there is sunshine. Great places for light tubes include bathrooms, closets, and basically any dark niche. Light tubes that terminate in your walls instead of the roof open up lower or middle floors as well. 

Value and Energy

Properly installed skylights potentially decrease your energy costs by adding more natural light which means less electric light. However, if installed poorly, they can mess with your insulation increasing your heating and cooling costs. Always ensure you use the correct skylight for your home and weather. When you add a skylight correctly, it increases your homeís value. The best skylights protect the homeís energy efficiency and blend in well with the original design. You donít want your skylight looking like an afterthought.

Before you add skylights or light tubes to your home, talk to your real estate agent about what the actual market value increase will be and the best skylights to use.




Tags: windows   lighting   home upgrades  
Categories: Uncategorized  


Posted by RE/MAX Executive Realty on 6/2/2019

Whether your adult children have left the nest or you recently decided to "upsize" to a larger house, you're now faced with the minor "problem" of what to do with that extra space.

While some homeowners just use it for storage or guest bedrooms, there are plenty of other possibilities that are well worth considering.

Exercise room: In spite of the many proven benefits of regular exercise -- ranging from increased strength and endurance to weight control and slowing down the aging process, many people have trouble getting started and staying motivated. It's a lot easier to come up with a laundry list of excuses than join a gym and stick with an exercise program. It's surprising how many people actually join a health club, but then stop going after the novelty (and their enthusiasm) wears off.

However, when you create a dedicated fitness space at home, most of your former excuses no longer hold water! With a home gym or exercise room, you not only have convenience, privacy, and 24/7 availability, but there are no parking issues, traffic problems, membership fees, or noisy weightlifters. If you prefer a regimen that's less vigorous, there's always the option to use the room for yoga, tai chi, and meditation.

Home office: With more homeowners telecommuting, consulting, freelancing, blogging, and starting ecommerce stores, it makes sense to set aside a dedicated space in your home for business and career development. A home office is also a quieter place to go for other tasks, such as paying bills, applying for jobs, social networking, catching up on your email correspondence, or planning your next vacation.

Home library: If you or any of your family are avid readers, a room with lots of built-in shelving, comfortable furniture, and adjustable lighting would be the perfect place to curl up with a good book and a hot cup of tea. Not only would a home library be the ideal environment for reading, studying, or doing research, but it might even encourage your children to cultivate more of an appreciation for reading and learning.

Craft room: Whether there are artists, embroiderers, or jewelry makers in your household, a special room for artistic endeavors lends itself to creativity, while helping to keep craft supplies and projects confined to one area of the house! A craft room can also be ideal for storing gift-wrapping supplies and holiday cards.

Music room: If your family is musically inclined, a separate room for practicing instruments is beneficial to both budding musicians and those who want to watch TV, do homework, or have quiet conversations elsewhere in the house. A dedicated music room can also be a good spot for making music videos, recording music, and having jam sessions.

As you can imagine, extra space in your house gives you and your family the opportunity for more physical, intellectual, and creative development. Designating a spare room, a finished basement, or an attic area for artistic expression or personal development may even encourage others in your family to discover and cultivate their hidden and emerging talents!





Posted by RE/MAX Executive Realty on 5/26/2019

As the sun continues to shine brighter than usual, everyone is certainly having that good jolly feeling that summer is almost here. While you might be planning on lying on the warm sand of the beaches near Boston snoozing to the soothing sounds of the waves, others are getting themselves ready to eat their delicious flavors of ice cream. 

Whatever you may be panning this summer, one thing that is common on every list of every Bostonian is the fun-filled festivals, and as summer comes with its longer days, these festivals are always favorites. Here are some of the top summer festivals for families to enjoy in Boston.

Topsfield Strawberry Festival
When: June 9th
Where: Topsfield

The first festival to get the summer groove going, this year will be the 51st annual version. Get ready for free bowls of fresh strawberries, whipped cream, and delicious shortcakes. Also, there will be a lot of kidsí games and live music for the whole day. 

Dragon Boat Festival
When: June 9th -10th
Where: Boston

This will be the Dragon Boat Festival's 40th year. This festival has all the thrills to get the family excited. You and your family will get to watch 50 teams race their well-crafted looking dragon boats on the Charles all weekend. However, you may need to wake up early to get a good viewing spot because this festival starts as early as 7 AM each day. There are also mouth-watering Asian foods and cultural displays to keep everyone entertained. If you would love to participate in the boat race, registration is currently open.

World Oceans Day Festival
When: June 10th
Where: Boston

This exciting event is a fun family festival that features a lot of activities like seafood cooking demonstrations, tastings and a lot of other outdoor activities. Also, families will even get the opportunity to interact with scientist and learn more about ocean animals.

Lowell Folk Festival
When: July 26th -28th
Where: Lowell

Enjoy music from Africa, Portugal, Ireland and many other nations across the globe. There is also a craft fair, dancing from local and international dance troops, a parade, and delicious local and foreign cuisines. In addition to the fun and lively music, there is a Family Activity Area with beautiful crafts and games the kids will enjoy. 

Riverfest
When: Not announced yet
Where: Somerville

Riverfest is one festival everyone anticipates every year. Live music, tons of children actives and five works, everyone is sure to have a splendid time. A blend of the best dance, music, and craft, this festival is only a glimpse of the beautiful treasure of art that Boston carries.So, these are some of the top festivals in Boston. From intriguing Asian culture to the best of art, brace yourself because there is so much to see and learn this summer. 

If you're new to the Boston area, your real estate agent can let you in on other local events where you can meet new friends and get to know your new home.




Tags: family fun   community  
Categories: Uncategorized  




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