Doug McNeilly

Great questionaEUR"and one a lot of buyers struggle with. After an inspection, it's helpful to separate major issues from cosmetic ones. In your case, a cracked heat exchanger and roof leaks are significant concerns, especially since the heat exchanger is a safety issue and roof problems can lead to larger damage over time. Items like holes in walls, worn carpet, and broken vent covers are generally considered normal wear and tear and are usually not the focus of negotiations. The standard approach is to concentrate on the big-ticket items that affect safety, structure, or major systems. Rather than asking the seller to fix everything, many buyers prefer to request a credit so they can control the quality of the repairs and avoid rushed or minimal fixes by the seller. A $10K credit could be reasonable, but it's best to support that number with estimatesaEUR"if the heat exchanger and roof repairs together justify that range, your request will feel more grounded and credible. Overall, the most effective strategy is to present a focused, reasonable request centered on the major issues, which keeps negotiations productive and increases the likelihood of reaching an agreement without jeopardizing the deal.

The amount you are pre-approved for and the amount you should comfortably spend are often two very different numbers. A lender is telling you the maximum loan they may be willing to offer based on debt-to-income ratios, but that does not always reflect what feels manageable in your real monthly budget. The best way to figure out what you can really afford is to start with the monthly payment you are comfortable with, not the purchase price. Begin by looking at your current monthly income, fixed expenses, savings goals, and how much room you want left over each month for everyday life and unexpected costs. Then work backward into a home price. Also, make sure you are budgeting for the full monthly cost of ownership, not just principal, interest, and taxes. Buyers also need to account for homeowners insurance, (which has been rising rapidly in many markets), utilities, maintenance, and any HOA or condo fees. Insurance and taxes alone now make up a much larger share of monthly payments than many buyers expect. On top of that, I always advise buyers to budget separately for ongoing maintenance and repairs. A common rule of thumb is 1%"3% of the home's value per year for upkeep, and older homes can easily run higher. Roofs, heating systems, appliances, tree work, and exterior maintenance add up quickly. I wrote a more detailed guide on this exact topic here: Hidden Costs of Homeownership Guide: https://dougmcneilly.com/2024/05/29/hidden-costs-of-homeownership-guide The right number is the one that lets you comfortably make the payment and still sleep well at night. In many cases, that means buying below the pre-approval amount, and that is often the smarter move.

Excellent Question! I wrote a Blog Post on this and just updated the Blog Post: https://dougmcneilly.com/2026/03/06/how-to-win-a-bidding-war-on-a-home-in-massachusetts-7-smart-offer-strategies Increased Deposits " Put down $2,500 or $5,000 with the Offer rather than the standard $1,000. This helps to signify you are serious. If you back out for a reason not covered by a contingency, you are exposed to an amount greater than the standard $1,000. Or be really bold; put down 1% with the Offer. At the Purchase & Sale (P&S), consider putting down 10% versus the standard 5%. Tight Dates " Apply for the mortgage the day the offer is accepted. Standard practice is to wait until the day of the P&S or within three days of signing the P&S. Don't wait. Again, this will signify you are serious. Downside is that if you decide to back out you might incur some lending fees. Expedited Mortgage Commitment Date " I never suggest Buyers waive the mortgage contingency. There is another option. Some lenders can pre-underwrite ahead of time and then close in about 14 days. This can be helpful with a vacant house. More importantly, you can get your mortgage commitment much earlier. If you can get the mortgage commitment 7 to 10 days after the P&S, almost a month before other competing offers, you have something other offers won't. Agents often consider a house as good as sold at the mortgage commitment. Check with your lender before you include any dates in an offer. Do remember, the longer the period of time between the mortgage commitment and the closing has more risk on the Buyer. Inspection " In Massachusetts Buyers can no longer waive the Inspection Contingency with an Offer. Good news for Buyers. But, you can still use the Inspection Contingency to your advantage. If you can get an idea on the age/condition of the furnace, hot water heater, air conditioning unit, roof, windows, etc. you may want to waive the 1st $10,000 or $20,000 (or a number you are comfortable with) of inspection items (the number needs to relative to price of home so you are not basically waiving the Inspection Contingency with a high number " for example waiving $50,000 on a $200,000 purchase). Spend ample time at the Open House or Showing. See if there are manufacture dates on the furnace, hot water heater, windows, etc. Bring a flashlight and poke around in the basement and attic. Look for cracks in the foundation, signs of current or past water penetration. Outside, is there any rotted wood? Visit the Town Hall and review the file for the home at the Building Department. This all helps to make a more educated guess as to the condition of the property. If you are in a multiple offer situation, the Seller is unlikely to fix anything or offer a concession unless it is a major structural / mechanical / safety issue. Thus, waiving the 1st $10,000 or $20,000 really does not matter, but it sends an important message to the Seller that you will not use the Inspection to get the price back down. And, it allows you to back out if the issues with the home are insurmountable. A good book to read is the Confident House Hunter by Dylan Chalk. Appraisal Gap Clause " There can be concern " rightfully so " that when bidding wars occur, homes will not appraise for the purchase price. If you have the cash, include a clause that if the house appraises for less than the offer amount, but more than the list price, the buyer will make up the difference to keep the loan to value ratio intact. Buyer Agent Fee " Either directly cover the Buyer Agent Fee or increase the Purchase Price above the List Price so to cover the Buyer Agent Fee so the Seller does not need to pay the Fee. Stamp Taxes " In Massachusetts, the Seller pays $4.56 per $1,000 of the Sales Price to the Commonwealth of Massachusetts at the time the Deed is recorded. On a $1,000,000 purchase that equates to $4,560. Offer to cover the cost for the Seller. Lender Outreach " Have your Lender call the Listing Agent directly. The Lender should reinforce that you are well qualified and the Lender can close on time. Have the Lender mention to the Listing Agent that have taken into consideration information particular to the property " taxes, insurance, and any HOA or Association fees.

If your home has been on the market for two weeks and you've only heard from your agent once, it's completely reasonable to feel frustrated. Selling a home is a major financial transaction, and you should not feel left in the dark. You are the client, and your agent is being paid to provide both service and guidance throughout the process. A reasonable expectation is communication after every showing and open house, even if the feedback is limited or simply " no meaningful comments were provided.aEUR? Silence creates uncertainty. At a minimum, most sellers should expect a scheduled weekly update. A simple weekly update should include: current list price, number of showings, open house traffic, online interest, buyer comments, competing homes that have come on the market, and any recommended next steps. Even when there is not much new to report, a consistent update helps you understand what the market is telling you. I provide a report each week - it is a simple word document, I save as a PDF and email and text to the Seller. It quickly summarizes all activity both Buyer and Marketing for the Seller to see. The best way to improve this is to set communication expectations directly with your agent. Ask for a standing weekly call or email update and request that all showing feedback be shared within 24 hours whenever possible. Clear expectations early on usually solve the problem quickly. Two weeks is still early in many markets, but lack of communication is a service issue, separate from whether the home is attracting buyers. You deserve regular updates so you can make informed decisions on pricing, presentation, and strategy.