Katie McBride | Hopkinton Real Estate, Holliston Real Estate, Ashland Real Estate


Do you enjoy the hustle and bustle of the big city? If so, you're sure to enjoy a city home.

Ultimately, there are many reasons to consider purchasing a home in a big city, including:

1. You can enjoy quick, easy access to public transportation.

Let's face it – owning a car sometimes can be problematic, and the costs associated with fuel, insurance and maintenance can add up quickly. However, you may be able to cut out some of these expenses if you live in the city.

Many cities feature public transportation systems that make it simple to travel from one location to the next. That way, you can avoid the hassles commonly associated with car ownership.

2. You can check out a broad assortment of attractions and entertainment.

The lights are always brightest in the city. Here, you can visit museums, historic landmarks and other attractions any time you choose.

For those who live in the city, you should have no trouble accessing a massive assortment of attractions and entertainment. From live theater performances to sports events, you can enjoy fun experiences in the city year-round.

3. You can visit a wide range of high-quality restaurants.

Foodies rejoice! Cities are home to some of the world's best restaurants, guaranteeing you can sample gourmet cuisine that you may struggle to find elsewhere.

Whether you appreciate traditional pub fare or elegant French dishes, you're sure to find exactly what you're looking for at a city restaurant. Plus, many city restaurants offer take-out menus, ensuring you can get first-rate cuisine delivered to your home.

How can you obtain a home in the city?

You don't need to be a millionaire to purchase a city home. In fact, here are three tips to ensure you can acquire an outstanding city house at a price that meets your budget:

1. Browse the housing market closely.

New homes reach the real estate market every day. As a homebuyer, you'll want to explore the housing market closely to find a residence that you can enjoy both now and in the future.

Examine the prices of recently sold homes in the city. Also, be sure to check out a variety of residences in-person. By doing so, you can understand what you can afford and map out your homebuying journey accordingly.

2. Get pre-approved for a mortgage.

Meet with multiple banks and credit unions before you begin your search for a city house. This will enable you to get pre-approved for a mortgage and kick off your home search with a homebuying budget in hand.

3. Work with a real estate agent.

Hire a real estate agent who understands a city's real estate market. This real estate professional will offer honest, unbiased homebuying recommendations. That way, you can accelerate the homebuying process and avoid the risk of spending too much on a city home.

Use the aforementioned homebuying tips, and you can move one step closer to securing your dream home in the city of your choice.


What Is The Disclosure Statement?


Disclosure statements are used in many of life’s situations. This is the place where the buyer is able to learn about the ins and outs of the property that they are about the buy. Examples of items that would be on a seller’s disclosure are:


  • Water in the basement
  • Updates made to the home
  • Known pests
  • Paranormal activity
  • Death on the property
  • Past fires
  • Nearby major construction projects
  • Title 5 sewerage issues 


Disclosures Serves As Protections


The disclosure statement serves as a protection for both the buyer and the seller. From a buyer’s perspective, through this information, they are able to understand a bit more about the property that they are potentially buying. 


On the seller’s side of things, the disclosure statement serves a s legal protection of sorts. The seller is obliged to reveal anything about the property that could potentially affect the value or affect the living conditions.


How Does The Seller Make The Disclosure


Each state and even each city within a state varies in the way a disclosure is conducted.  The statement can be composed of dozens of documents that need to be signed by the seller. Other states have disclosure document forms that consist of a series of yes or no questions about the home. Sellers may also be required o present communications between neighbors, owners, and agents. In some states, the disclosure statement is valid for up to 10 years, allowing buyers to collect damages if something wasn’t properly presented on the statement.  


How Do Sellers Know What To Disclose?


The basic rule of thumb is that if you know something about your property, you should disclose it. If you try to hide something, it could come back to meet you in the form of a lawsuit, even years later. Many states have legal requirements as to what should be revealed on these documents.  


What’s Disclosed To Buyers?


The disclosure doesn’t have to be all bad. This document is also an opportunity for sellers to present any of the improvements that they have made to the home. Make sure that you include all of the upgrades, renovations, and improvements that you have made to the home that you’re selling. This can help to impress buyers as to how well you have taken care of the property.


It’s easy as the buyer to check some of these improvements as you can find out if the work was done with or without permits by checking with the city’s zoning reports. Work that was done without a permit may have not been completed according to code. This could pose some serious health and safety risks to you and your family. 


Problems that you’ll want to disclose as a seller include pest problems, property line disputes, disturbances in the neighborhood, liens on the property, and appliance malfunctions. 


Remember that the disclosure doesn’t substitute the buyer’s right to a professional inspection of the property. It’s important for buyers to know as much about a property as they can in order to be sure they’re making a good investment.


Shopping for a new home is difficult and time-consuming. With all of the homes listed for sale, it’s tempting to want to visit all of them. However, if you’re juggling house-hunting with your work and personal life, then you likely won’t have time to set aside many hours to visit several homes.

 This is where you can use technology to your advantage. With free, modern tools online you can find out plenty about a house and the neighborhood it’s in without ever having to go and visit it. Better yet, you can do so in just a few minutes right from home.

 In this article, we’re going to teach you how to become a real estate investigator from the comfort of your own couch, helping you save time while hunting for the perfect home for you. 

 Know what you’re looking for

While it’s okay to browse homes for pleasure, when it comes to getting serious about buying a home you’ll want to keep your search as specific as possible. Think about what you or your family need in a house and neighborhood, rather than focusing on idealized versions of those things.

A good way to do this is to sit down and make a list of your budget and the five most important things you’re looking for in a home. These could be things like distance to work, being in a certain school district, or having a certain number of bedrooms. Once you have these details in mind you can begin your search.

Search tools

There are a number of search tools for locating homes near you. The key to searching, however, isn’t the tool you use but how you search. Refer to your list for things like room numbers, square footage, and location.

If you don’t come up with as many hits as you’d like, try setting up email or text alerts so you can be made aware of the new results for your area.

Once you have a list of about ten properties, you’re ready to start researching them further to see which sellers you want to contact to view the home.

Researching a potential home

Many people are surprised at the number of things you can learn about a home just from a Google search. However, Google will be an indispensable tool in your search for the perfect home.

Let’s start our search on Google Maps. Type in the address for the house you’re researching and see if there are any photos of the home that aren’t on the listing page. Next, enter the satellite view of the home to get an idea of the layout of the home and property.

While you’re in Google Maps, it’s a good idea to browse the local area for businesses, hospitals, schools, parks, and other services that might affect your decision. Then, set a driving route between the house and your place of work to find out how long it would take you to get to work if you moved there.

Once you’re done in Google Maps, head back to the Google search page and browse the results for the address. This could show you information on previous owners, prices, and crime statistics. All of this will be useful information in your search.

Repeat this search method for the rest of your homes on your list and you’ll be narrowing down potential homes to visit in no time.


A low appraisal is a possibility when you’re buying a home. This can happen for a variety of reasons. If it happens to you, don’t panic! 


Once you get an offer accepted on a house you love, it may feel like a huge weight has been lifted off of your shoulders. As any seasoned homebuyer will tell you, this is only the beginning! 


It can be tough for both the buyer and the seller when a deal seemingly falls apart due to an appraisal that comes in too low. This is a common occurrence and there are ways to work around it. 


Reasons For A Low Appraisal


There are a few reasons for a low appraisal including:


Insufficient sales data for the area can often skew appraisal numbers

Lenders may only lend up to a certain percentage of the appraised value


If the appraisal comes in lower than what you offered for the purchase price of the home, you’ll need to come up with the rest of the cash upfront in order to purchase the property. There are other options for you if you do come into this situation.


The Appraisal Contingency


The appraisal contingency is built into your sales contract and is a protection for the buyer, allowing them to walk away without financial burden if the appraisal comes in too low. This allows you room for negotiation on the seller’s part if they really are motivated. The contingency clause isn’t a one-size-fits-all protection. Even with this clause, you could end up spending more out of pocket cash or walking away from the deal completely. It’s simply a protection.  


What If The Appraisal Is Wrong?


The appraisal can be submitted for review. The appraiser would need to explain why they didn’t use comparable sales provided by the lender. The property can also be completely reevaluated. In addition, you can request a separate appraisal from your lender. The seller may even pay for the second appraisal in order to keep the deal from falling through. 


Don’t Offer More Than You Think The Property Is Worth


When you base huge financial decisions on emotions, you could end up in a bad situation. Your offer that wins the house can quickly become a case of regret as a buyer. Many times in a tight real estate market, you’ll need to make decisions fast. If you have a general idea of property values and work with a realtor to make an informed offer, you’ll be in better shape to avoid a big headache. While you may be able to afford paying more than a house is worth, it’s not a smart financial decision.       



Low Appraisals Are An Opportunity


A low appraisal should be thought of by the buyer as an opportunity to renegotiate the sale price of the home. This step in the home buying process is a protection for you as a buyer for one of the biggest purchases that you’ll ever make.


You have finally found what you believe to be the perfect home. Then, something rings off in your gut. Maybe it was poor communication with the seller. Maybe a big change happened in your own life in a short period of time. All you know is that you really want to back out of the deal. You might have a lot of questions. Is this possible? Are there consequences? 


The short answers to these questions are yes, and yes. There is a possibility that you could be sued by your backing out of a deal. It’s rare that buyers are actually mandated to buy a home that they don’t actually want to buy. Sellers will, however, be able to keep any money that has already been paid as a deposit after a certain point in the dealings on a home sale. Sellers may also be awarded damages in some cases. 


Legally Backing Out Of The Contract


There are a few circumstances where buyers may have a legitimate right to back out of a contract on a home. If certain contingencies weren’t met, as a buyer, you’re free and clear to walk away. These circumstances include:


  • Financing falls through
  • You couldn’t sell your former home
  • Flaws in the home have not been disclosed
  • Property boundary line issues exist
  • Liens are against a home’s title
  • The seller does not meet the terms for improvement
  • Undisclosed uses exist for the land such as a pathway


If none of these reasons apply to you and you still have reservations about buying the home, you may need to sacrifice a huge chunk of money. The way that you exit the deal will all depend upon the contracts that were signed previously.


Other Buyers Are Waiting For The Home


If you are in a tight market and decide to back out of buying a home, you could be in luck. Often, if there’s a backup offer, it’s enough to satisfy a seller that at least the home will be sold promptly. However, don’t hold you breath when it comes to getting your deposits back. If you have already “promised” to buy a home, you can kiss the deposit goodbye, unfortunately. 


Always Hire A Real Estate Attorney


Whether your state requires it or not, you should always hire a real estate attorney. These professionals can help you to read each and every line of the contracts that you’re signing when buying a home. They will make suggestions as to how you can protect yourself through the process along the way. It’s a good investment to hire a lawyer when you’re buying a home.




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