If you want to sell your house and you have no idea what a CMA is, don’t panic! It simply stands for a Comparative Market Analysis. It compares other homes in your neighborhood with your home and then estimates how much your property is worth in the current Framingham real estate market.
If you’ve spoken to a real estate agent about selling your property, they will make a lot of fuss about how they carefully create a comparative market analysis. And they do take time to do this using the methods that we’re going to outline here. We’re not saying their CMA is not useful. In fact, they are very precise and useful. But it’s important for you to know that you do not need them, nor do you need to pay a 6% commission in order to get an accurate CMA.
Believe it or not, creating a comparative market analysis is rather easy for a homeowner like you to build. It just takes some attention to detail and a careful look at the properties in your neighborhood. Real estate agents do have access to the multiple listing service (MLS), but a seller can do the exact same thing by carefully building a comparison using free online tools (such as Zillow or Realtor.com) to gather this information for yourself. You can sell without the hassles of dealing with real estate agents or waiting the long period of time that it traditionally takes to sell a home when listing it on the Framingham area MLS.
Start by writing down all of the important features of your own home. This will include the square footage of the living space in the house, how many bedrooms it has, how many bathrooms the house has, and how many square feet the land that you own is. It should also include how old the property is, what value the Framingham tax collector has assessed the property at and how much you pay this year for property taxes. the current taxes are.
Once you have all that information at hand, you can go to a website like Zillow put in the features we’ve listed above, and ask Zillow to show you houses that have sold within the last six months and are within one or 2 miles of your property. (If you live in a rural area you may need to expand the radius of your search to a larger number such as within 10 miles of your property).
Tip # 2— Price Your Home To Sell Using An Appraisal Company
If doing a comparative market analysis sounds too complicated for you or maybe you just don’t have the time, there certainly is another option. You can hire an appraisal company to do this market analysis for you. It does cost you some money, but you can be assured that the value that these professionals set as a sale price for your Framingham home will be very accurate. It may cost you up to $1000 or so to hire an appraiser.
The other thing to note is that in the current frenetic Framingham real estate market, it takes some waiting for an appraiser to come and do their work for you. So while you will wait some time (perhaps up to a month) and you will spend some money—the positive side is that you don’t have to use any of your own time to get this accomplished.
Tip # 3— Sell Your Home To A Professional Home Buyer
When you begin planning to sell your home in Framingham, you may not want to take advantage of either of the first two tips we’ve offered today. Maybe you simply don’t have the time, the patience, or the money. You might be thinking, “Gee that’s a lot of money to spend” or “That’s more work than I really have time to put into pricing out my home to sell”.
Well if that’s the case we have a third tip we would like you to consider. You could consider working with a professional homebuyer who is experienced and established in buying Framingham properties from owners just like you. Now granted we are a little bit biased in this regard because we are one of those buyers. But we can honestly say for many people working with a professional house buyer is a very good option.
The number one key to success when selling your house to a cash buyer like Summit Buys Houses is to do your homework on the companies you are considering. Believe it or not, there are a number of these companies in the Framingham area. But not all of them are equal. Some may be operating without any capital to purchase your house, or have only been in the business for a very short time and may be likely to make mistakes during the sale process.
So when selling your home, make sure your professional buyer has a good standing with the Better Business Bureau of New England. You should also check out their online Google reviews to make sure they are established; they have the cash available to purchase your house quickly and they have been trustworthy and treating other folks who are in a situation like yours.
If you do opt to sell your house to a professional investor, there are some distinct advantages. Many of the clients we’ve had have told us that being able to leave the property without cleaning it out or making any repairs was a massive advantage to them! If you read their reviews, they always say how relieved they were to put all of that behind them and simply move away with the things they wanted to keep.
A second important advantage is that you can close exactly on the day that works best for you and you don’t have to wait for your buyers’ bank and all of the loan process inspections and appraisals that have to occur. And finally, many of our clients tell us how happy they were that they didn’t have to pay a 6% commission to a real estate agency. Think about that for a moment if your house is worth $400,000 you will have to pay the real estate company $24,000 in commissions! Yes, that is not a misprint. You end up saving a very significant amount of money by not paying that real estate commission.
When preparing to sell your house in Framingham, pricing it exactly where it will sell quickly and still make you the most amount of money is extremely critical. And you don’t necessarily need to count on a real estate agent to do that pricing work for you. We hope that this article has given you a little bit more information and perhaps tweak your interest in working with a professional home buyer like Summit Buys Houses.
Let Us Be Your Most Valuable Player!
As I mentioned we are a little bit biased. But the facts are clear when you look at our online reviews. We are the premier cash home buyers in Massachusetts!
Take some time to review our long list of satisfied clients. It is a testament to our experience and understanding for the needs of people like you ready to sell your house.
We are “The Local Guys” who buy Massachusetts properties for cash.
Give our team a call if you have any questions or would like a free quote on your home. There are never any “high-pressure” sales tactics from us and everything is free of charge. We are here to help—what have you got to lose by giving us a call?
You’ll quickly see why the Better Business Bureau of Massachusetts. has awarded us their highest business rating. It’s an honor we’ve earned by helping homeowners like you sell their homes quickly and profitably in the shortest amount of time.
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We want to buy your house for cash! If your property is located in Framingham, Woburn, Fitchburg, or Burlington to name just a few call us to see what our cash offer to you will be. So if you’re interested in selling your home anywhere in the Middlesex, Essex, and Worcester counties of Massachusetts—contact us for a quick, confidential, no-obligation cash offer and the best, no-pressure advice. “Summit Buys Houses” is Summit RE Group LLC and is duly registered to operate in the states of Massachusetts, New Hampshire, and Nevada.