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Community Connections<br />

Page 6 www.TheTownCommon.com December <strong>27</strong>, 20<strong>17</strong> - January 2, 2018<br />

GiuseppesFineFood.com<br />

New Dining Room<br />

Full Bar<br />

Italian Deli & Marketplace<br />

Take out<br />

Grab & Go<br />

Party Trays<br />

978-465-2225<br />

257 Low St . Newburyport<br />

sold single Family Homes<br />

Address, Town Description DOM List Price Sold For Orig Price<br />

59 Grove St, Essex 6 room, 3 bed, 1f 0h bath Colonial 88 $225,000 $150,000 $299,000<br />

92 Prospect St, Amesbury 8 room, 4 bed, 2f 0h bath Antique 22 $299,900 $305,000 $299,900 257 Low St<br />

46 Pike St, Salisbury 5 room, 2 bed, 1f 0h bath Ranch 50 $319,900 $305,000 $319,900 Newburyport<br />

9 Lakeside Terr, Amesbury 6 room, 3 bed, 2f 1h bath Colonial <strong>27</strong> $325,000 $320,000 $349,900<br />

15 Orchard St, Merrimac 7 room, 4 bed, 2f 0h bath Farmhouse 21 $359,828 $366,000 $359,828<br />

37 Lime St, Newburyport 6 room, 3 bed, 1f 1h bath Colonial 79 $375,000 $340,000 $389,000<br />

19 Ash St, Amesbury 978-948-86965 room, • www.thetowncommon.com 2 bed, 2f 0h bath Ranch 36 • $379,000 advertise@thetowncommon.com<br />

$362,000 $405,000<br />

11-15 Church St, Rowley 8 room, 4 bed, 2f 0h bath Cape 38 $419,000 $410,000 $419,000<br />

226 Elm St, Amesbury 6 room, 3 bed, 2f 1h bath Cape 18 $419,900 $419,900 $419,900<br />

2 Garnet St, Newburyport 6 room, 3 bed, 1f 0h bath Cape <strong>27</strong> $475,000 $458,000 $475,000<br />

90 Forest St, Hamilton 6 room, 4 bed, 2f 0h bath Cape 52 $449,900 $439,000 $475,000<br />

26 Forest Ave, Essex <strong>12</strong> room, 4 bed, 2f 0h bath Colonial 28 $469,000 $460,000 $489,000<br />

189 Low St, Newburyport 8 room, 3 bed, 2f 1h bath Cape 40 $525,000 $525,000 $525,000<br />

28 County Rd, Essex 7 room, 3 bed, 2f 0h bath Colonial 22 $529,000 $500,000 $529,000<br />

15 Ashland Ct, Newburyport 6 room, 4 bed, 2f 0h bath Colonial 400 $544,900 $532,500 $544,900<br />

308 Asbury St, Hamilton 9 room, 4 bed, 2f 1h bath Colonial 1<strong>12</strong> $524,900 $524,900 $549,000<br />

53 Maple St, Wenham 7 room, 3 bed, 1f 1h bath Ranch 84 $449,900 $425,000 $549,900<br />

58 Bridge St, Hamilton 6 room, 3 bed, 1f 1h bath Colonial 25 $565,000 $575,000 $565,000<br />

10 Winsor Ln, Topsfield 7 room, 3 bed, 2f 1h bath Ranch 79 $530,000 $520,000 $575,000<br />

92 Depot Rd, Boxford 9 room, 3 bed, 2f 1h bath Ranch 23 $589,900 $6<strong>12</strong>,500 $589,900<br />

<strong>17</strong>0 Lakeshore Rd, Boxford 7 room, 3 bed, 2f 0h bath Ranch 206 $549,900 $505,000 $599,900<br />

20 Hilltop Cir, West Newbury 8 room, 4 bed, 2f 1h bath Contemporary 20 $600,000 $615,000 $600,000<br />

98 Martin St, Essex 9 room, 4 bed, 2f 1h bath Other 89 $549,000 $550,000 $619,000<br />

7 Paddock Ln, Hamilton 8 room, 3 bed, 2f 0h bath Saltbox 42 $625,000 $610,000 $625,000<br />

2 Red Coach Rd, Hamilton 8 room, 4 bed, 2f 1h bath Colonial 108 $565,000 $530,000 $639,000<br />

14 Herrick Dr, Ipswich 10 room, 4 bed, 2f 1h bath Colonial 70 $625,000 $604,000 $649,900<br />

24 Johnson St, Newburyport 7 room, 3 bed, 2f 1h bath Colonial 91 $649,900 $625,000 $649,900<br />

8 Highwood Ln, Ipswich 6 room, 3 bed, 2f 2h bath Contemporary 91 $699,000 $670,000 $699,000<br />

15 Worths Ln, West Newbury 9 room, 3 bed, 2f 1h bath Colonial 84 $685,000 $649,900 $699,900<br />

716 Main St, West Newbury 8 room, 4 bed, 2f 1h bath Colonial 113 $699,900 $699,900 $729,900<br />

46 Brookview Rd, Boxford 9 room, 3 bed, 2f 1h bath Contemporary 68 $799,000 $799,000 $799,000<br />

41 Maple Ave, Boxford 10 room, 4 bed, 2f 1h bath Colonial 19 $850,000 $850,000 $850,000<br />

66 Rockmaple Ave, Hamilton 8 room, 4 bed, 3f 1h bath Colonial <strong>17</strong>7 $849,500 $849,500 $879,900<br />

18 High Rd, Newbury 13 room, 5 bed, 5f 0h bath Victorian <strong>17</strong>3 $1,399,900 $1,323,000 $1,399,900<br />

39 William Fairfield Dr, Wenham 10 room, 4 bed, 4f 0h bath Colonial 162 $1,290,000 $1,160,000 $1,495,000<br />

288 High St, Newburyport <strong>12</strong> room, 6 bed, 5f 1h bath Farmhouse <strong>17</strong>3 $1,799,288 $1,675,000 $1,799,288<br />

239 Middle Rd, Newbury <strong>12</strong> room, 4 bed, 3f 1h bath Shingle 163 $1,999,950 $1,809,000 $1,999,950<br />

Single Family Listings: 37 Avg. Liv.Area SqFt: 2,442.57 Avg. List$: $648,929 Avg. List$/SqFt: $261<br />

Avg. DOM: 84.32 Avg. DTO: 55.54 Avg. Sale$: $623,624 Avg. Sale$/SqFt: $251<br />

20<strong>17</strong> MLS Property Information Network, Inc.<br />

For<br />

Sale<br />

Business Spotlight<br />

Real Estate • For Sale<br />

Why is This Back on the Market?<br />

Sports • Sports • Sports<br />

By John McCarthy, Rowley Realty<br />

I recently had a buyer I had been the listing agent would be required of a good appraisal wont’ allow<br />

working with call me on a home Pets, by law and our Animals, code of ethics to the buyer Plus to get financing so that<br />

that just came back on the market. tell us if that was the case. I also contingency can be referenced<br />

Naturally he wanted<br />

New<br />

to know<br />

Dining<br />

why.<br />

Room<br />

mentioned that there are a number when withdrawing an offer.<br />

I called the listing agent and Full her Health Barof reasons why a buyer & would Fitness<br />

back Sometimes a bank will allow the<br />

response was that the buyer’s got out of a deal, and although the buyer to make up the difference in<br />

“cold feet”. My buyer found<br />

Italian<br />

that<br />

Deli<br />

home<br />

&<br />

inspection is a common cash, order another appraisal or try<br />

hard to believe and thought Marketplace for cause many buyers do simply get to convince the appraiser that the<br />

sure there was an issue during the cold feet.<br />

comparable sales they used aren’t<br />

home inspection. I told him<br />

Take<br />

that<br />

out<br />

When pending sales go back on true and supply others in the hope<br />

Grab & Go the market it naturally arouses as that they change the value. you<br />

to what went wrong? everyone could also ask the seller to accept<br />

Party Trays<br />

notices when a for sale sign goes up the (lower) price that the appraiser<br />

in the neighborhood and everyone came up with. If none of these<br />

978-465-2225 also notices when that “Under fixes work than the sale will fall<br />

Agreement” comes down and the apart.<br />

GiuseppesFineFood.com “For Sale” sign is left standing. Financing<br />

Here are the most common Buyers may have run into an<br />

reasons pending home sales come issue between getting preapproved<br />

back on the market.<br />

and getting a commitment<br />

Buyer’s Remorse<br />

from the bank. A job loss, an<br />

It happens. Buyers get “cold<br />

feet”. One thing to keep in mind<br />

is that as a buyer you sign a legal<br />

and binding document when you<br />

make an offer. “Buyer’s remorse” is<br />

NOt a legal reason for withdrawal.<br />

A seller could conceivably take<br />

you to court and force a sale. That<br />

hasn’t been my experience though,<br />

typically a buyer who decides they<br />

don’t want to buy the home will<br />

site a home inspection issue, big or<br />

small as a reason for withdrawal as<br />

a buyers purchase is contingency<br />

on a satisfactory home inspection.<br />

Many buyers who withdraw due<br />

to cold feet are First-time home<br />

buyers who would benefit greatly<br />

from employing the services of an<br />

experienced ReALtOR® who can<br />

walk them through the process of<br />

buying a home.<br />

Home Inspections<br />

Once a home inspector points<br />

out problems in a home some<br />

buyers go into panic mode. All<br />

homes have problems, even<br />

new homes. Home inspectors<br />

nowadays find and point out just<br />

about everything that isn’t exactly<br />

to their liking or to current code<br />

(even though it was when installed<br />

or build). Sometimes buyers ask<br />

that sellers replace these items or<br />

request a financial credit from the<br />

seller as compensation to do the<br />

work themselves. If the seller refuses<br />

to do either of those options, then<br />

the buyer can withdraw and the<br />

home goes back on the market.<br />

Appraisal<br />

The large majority of buyers<br />

need a mortgage to buy your<br />

home. Mortgage companies want<br />

to insure that the home they are<br />

lending on is worth the price the<br />

buyer and seller have agreed to. to<br />

protect the lender’s position, the<br />

lender will ask a buyer to pay for<br />

an appraisal. If the appraisal comes<br />

in less than the sales price the<br />

deal can be voided as most offers<br />

have an appraisal contingency. If<br />

the offer does not have a specific<br />

appraisal contingency the failure<br />

undisclosed financial issue or even<br />

a lien filed against them could<br />

all create a situation where their<br />

loan is denied. As a buyer you<br />

want to avoid big changes to your<br />

credit worthiness like a job change<br />

or large purchases such as a car<br />

while going through the approval<br />

process. Most buyers will get<br />

their financing but some deals<br />

are voided due a change beyond<br />

a buyers control or if that buyer<br />

was not being truthful during the<br />

application process.<br />

Home Sale Contingencies<br />

Some offers are subject to the<br />

sale of the buyers current home.<br />

If that home is not sold during<br />

a specific time frame than it can<br />

create a domino effect. If buyer<br />

falls though, all of the other<br />

transactions contingent upon that<br />

one closing will fall apart, making<br />

those sales go bad.<br />

Depending on the market and<br />

a number of other factors, sellers<br />

may want to retain the right to<br />

kick out a “contingent” buyer and<br />

cancel the contract if another buyer<br />

wants to buy the home without<br />

a contingency. This is typically<br />

called a “kick out clause”.<br />

While the large majority accepted<br />

offers end up in a sale there are<br />

some that do not stay together.<br />

Keep in mind that nothing is final<br />

until the closing and consult with<br />

your ReLAtOR along the way<br />

to make sure all contingencies are<br />

being met. The phrase “it wasn’t<br />

meant to be” can give sellers some<br />

solace in the fact that their sale fell<br />

apart but the knowledge that it is a<br />

“sellers market” and another buyer<br />

is hopefully one call away can<br />

really, really help.<br />

If you have any questions about<br />

this article, real estate in general<br />

or are looking to buy or sell a home<br />

please contact me, John McCarthy<br />

at Rowley Realty, 165 Main St.,<br />

Rowley, MA 01969, Phone: 978<br />

948-<strong>27</strong>58, Cell 978 835-2573 or<br />

via email at john@rowleyrealestate.<br />

com

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