Posted by Competitive Edge Real Estate Services on 3/31/2020

New Construction under way for Center Entrance Colonial with dormer walk up attic located within minutes of major routes, 3+/- miles to Commuter rail! Natural gas heat, cooking & on demand hot water. First floor features expansive kitchen, granite counters, generous appliance allowance & sliders to deck perfect for grilling area. Fireplace in living room with wood mantle & slate hearth. dining room all with Red oak hardwoods throughout first floor, stairs & 2nd flr landing. First flr laundry & half bath. Front to back master suite with walk in closet, and shower in master bath granite counters & tiled flooring. Two other good sized bedrooms complete 2nd floor living space. Full walk up attic with dormer windows, plenty of natural light. Still time to choose cabinets & counters from builder samples!. Call today for more information.

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Posted by Competitive Edge Real Estate Services on 3/31/2020


Lot 2 Whipple Road, Tewksbury, MA 01876

Single-Family

$579,900
Price

6
Rooms
3
Beds
2/1
Full/Half Baths
New Construction under way for Center Entrance Colonial with dormer walk up attic located within minutes of major routes, 3+/- miles to Commuter rail! Natural gas heat, cooking & on demand hot water. First floor features expansive kitchen, granite counters, generous appliance allowance & sliders to deck perfect for grilling area. Fireplace in living room with wood mantle & slate hearth. dining room all with Red oak hardwoods throughout first floor, stairs & 2nd flr landing. First flr laundry & half bath. Front to back master suite with walk in closet, and shower in master bath granite counters & tiled flooring. Two other good sized bedrooms complete 2nd floor living space. Full walk up attic with dormer windows, plenty of natural light. Still time to choose cabinets & counters from builder samples!. Call today for more information.
Open House
No scheduled Open Houses

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Categories: New Homes  


Posted by Competitive Edge Real Estate Services on 3/31/2020

Image by Shutterbug75 from Pixabay

With a mortgage, a buyer is applying for financing to purchase the property in its entirety. They're relying on their credit and assets for approval before assuming responsibility of the full property. In a land contract, you're cutting out the need for a formal lender and relying on the seller to approve or deny your application.

The seeming simplicity of the transaction may make some people discount the importance of negotiation. However, there are a few things to keep in mind so both the buyer and seller are comfortable with the terms of the agreement. 

Talk to the Seller 

With a land contract, you may be more beholden to the seller than you would be to a lender in a traditional mortgage. If the seller thinks of you as a tenant rather than an owner of the place, you'll need to discuss their exact involvement over the course of the contract.

Because the seller won't receive the full value of the property upon sale, their financial insecurity is entirely understandable. They may want to check up with you over the phone, in-person, or through a third-party. If you're uncomfortable with the level of oversight, you may need to speak up or find a different property. 

Make sure you understand your obligations during this time. Some buyers are treated as a renter of the property — until it comes time to make significant and costly repairs. If you're responsible for all upkeep, you may be able to negotiate more freedom in exchange for the additional expense. 

Think Through the Finances 

One of the starkest differences between a traditionally financed home and a land contract is the speed of repayments. Even if you do find a seller willing to extend the contract, it can still be a major strain on your finances. As you factor in your current assets and credit score, you should also consider the future.

If the final payment is large enough, it may still require a substantial loan. If your credit hasn't improved enough by the time the contract nears the end, it could be a significant blow to your savings. And if you can't meet the terms of the contract, the seller will get to keep the money you've already paid them (as well as the property). 

Negotiating a land contract means thinking through the repercussions of each clause. While the terms may seem looser than a standard mortgage, there may be strings attached that aren't as obvious at first glance. Ensure that you understand your financial and practical responsibilities before signing on the dotted line. 




Tags: loans   Financing   home loan   finance  
Categories: Uncategorized  


Posted by Competitive Edge Real Estate Services on 3/28/2020

This Single-Family in Auburn, MA recently sold for $277,000. This Cape style home was sold by - Competitive Edge Real Estate Services.


104 Hampton Street, Auburn, MA 01501

Single-Family

$265,000
Price
$277,000
Sale Price

6
Rooms
3
Beds
2
Baths
Renovated approx 4 years ago-open floor plan with HDWD floors, fireplaced living room,first floor bedroom,Tile kitchen floor Stainless steel appliances- 4 years old-walk out basement, newer heating, new oil tank, newer hot water tank-- great location close to all major routes-

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Categories: Sold Homes  


Posted by Competitive Edge Real Estate Services on 3/24/2020

This Single-Family in Tewksbury, MA recently sold for $735,000. This Ranch style home was sold by - Competitive Edge Real Estate Services.


1 Mount Joy Drive, Tewksbury, MA 01876

Single-Family

$774,900
Price
$735,000
Sale Price

10
Rooms
4
Beds
3
Baths
Prestigious Mount Joy residence offering Spectacular Hip Roof Ranch 5,000+/- sq. ft of living space, two car attached plus three car detached garages nestled at top of picturesque landscaped two+acre lot within minutes of Rtes 495 & 93. Wonderful flow to expansive floor plan, if your looking for unique, this is the home for you. Cabinet packed kitchen w/center island, gorgeous custom built ins, formal dining room entry graced with columns & hardwood/parquet floors. Walls of windows & built in cabinets again offered in living room, cathedral family room showcasing field stone fireplace. Kit, liv & fam room w/direct access to private rear patio area. Master bedroom suite separate sitting room/office, double sink vanity, walk in closet, specialty shelving. Two large bedrooms & full bath complete 1st floor living. Sweeping lower level great room, walls of custom cabinets, newer full bath, stone shower & floors, oversized laundry rm. Full walk out with tons of light & windows.

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Categories: Sold Homes  




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