The Seller’s Statement of Property Condition Form: To Use or Not to Use?

Filling out real estate forms can be a daunting task. They can be long, complicated and require lots of signatures. But forms have a purpose, of course. They also tend to make transactions run smoother, especially digital forms that can be signed electronically and eliminate the hassle of scheduling in-person meetings. When working with a seller, there is one form which comes to mind that can do just that.

The Seller’s Statement of Property Condition is a standard form, but the state of Massachusetts does not require this form to be filled out as a part of a real estate transaction. So, it’s up to the individual company to decide if they are going to use it or not.

This eight-page form can be a wealth of information for buyers. Quite simply, the form details everything a homeowner may know or doesn’t know about the property during the time they have owned it. In this form, members will find questions about special permits, water damage and structural components, including heating, plumbing etc.

Many of the sellers complete the form by checking the third box, “unknown.” However, if sellers take time to fully complete this form, they could save a buyer the trouble of making an offer. In addition, it’s very difficult for a buyer to come back after a home inspection and ask a seller to provide credit for a repair if they were aware of the issue prior to an offer. The more one discloses, the less they have to deal with after.

Whether your company requires sellers to complete the Seller’s Statement of Property Condition or not, you should know that there is an easy way to access it through MAR’s website as a member benefit. One of the recent upgrades allows you to email the Seller’s Statement of Property Condition to a client and have it completed electronically. It works like electronic signature. Once the seller completes the form, the agent gets a notification that the form has been completed.

It’s nice to know that in today’s fast-paced world, even lengthy real estate forms can be completed quickly and painlessly.

For more information on your free access to zipLogix, the official forms software of the National Association of REALTORS®, as a member of the Massachusetts Association of Realtors® please visit the MAR forms page.

These 10 MA towns experienced the highest increases in sales and price in December

Top-ten_blog_purpleWorcester County experienced a boom in median price increases over last year in December, with two towns topping the list. Closed home sales increases were spread across the state.

Closed Sales Percent Increase
1. Wellfleet + 175.0%
2. Ashland, Mansfield, Merrimac + 150.0%
3. Westfield + 140.0%
4. Kingston + 120.0%
5. Rutland + 116.7%
6. South Hadley + 111.1%
7. Longmeadow + 109.1%
8. Marshfield + 94.4%
9. Wilmington + 94.1%
10. Seekonk + 92.3%

 

Median Sales Price Growth Median Price Percent Increase
1. Douglas $338,000 + 64.9%
2. Belchertown $307,000 + 43.6%
3. Spencer $215,000 + 38.7%
4. Sudbury $774,500 + 36.3%
5. Bourne $375,000 + 35.1%
6. Gardner $190,000 + 34.2%
7. Westwood $755,500 + 33.7%
8. Tyngsborough $399,900 + 32.5%
9. Norwell $840,000 + 30.5%
10. Dracut $365,000 + 29.8%

*A minimum of ten homes must have been sold in each town during December 2016 to make this list.

All data used in the rankings is compiled from the Berkshire County Multiple Listing Service, Cape Cod & Islands Association of REALTORS®, Inc. and MLS Property Information Network, Inc.