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Asked by Jennifer1029, Walpole, MA Sat Jul 7, 2012

Hi! We are hoping to sell our home in N.Framingham, MA next Spring and buy in the Walpole/Sharon area to relocate before next Fall. -Do we use one realtor even though the areas are 20 miles apart? Should we sell our home before trying getting preapproval for our new home? Is 20% down an absolute must or can the 20% also be financed? We also have a rental property in Nashua, NH. We would like to refinance that property since its interest only but didnt know if we should do it now or at the same time of our planned sale and purchase next year (if we do it now, would it hurt our credit for next year). thank you

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Lynne Hagopi…, Agent, Framingham and Southborough, MA
Mon Jul 9, 2012
Hi Jennifer,
I am a Framingham agent and know Framingham quite well if you need a market analysis and some help getting ready to sell here. In today's world, you need to sell your home if financially necessary to buy the Sharon/Walpole home as your new home cannot be contingent upon your current home selling as most sellers would not accept this. I would ask a mortgage broker about refinancing N.H. as it may affect your credit or loan to values in some way. Using one realtor is a tricky question. I have been a buyer's agent all over MetroWest and have sold in Carver and Leominster as well. If you have a good agent, he or she will help check the town, talk to the building and assessors dept, tax collector, check town and state websites for information about the town, the schools and just about anything else you need to know. It is always a great idea to refer you to a local agent that knows the Sharon/Walpole market but sometimes if you like and trust your agent, you may want to work with them wherever you are looking. Good luck and I would be glad to help when you are ready.

Lynne Hagopian
508 648-0393
Hammond Residential
Framingham, Ma.
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Christine Mo…, Agent, Wilbraham, MA
Mon Jul 9, 2012
I would use the same Realtor so she or he can wrap it all up in the same deal if you need to close at the same time. Don't refinance if you are planning to sell it won't be worth it. Use a mortgage calculator to see how long it will take to break even. Also get pre approved before you start looking. If you offer is absolutely contingent on the sale of your current home I would use the same agent. Once you have an accepted offer you may have to list your home at a price to move it quickly. If you need to get a certain amount for your home you will have to list it first.
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Vesta Real E…, Agent, Holliston, MA
Sun Jul 8, 2012
Hello Jennifer:
The question on using the same Realtor for 20 miles apart is going to get you lots of different answers, but my recommendation is that you use 2 different ones. Here are my reasons: I feel that I need to be intimately knowledgable about a community to serve my clients. This goes for marketing a listing, as well as selling you a new home. There are many areas about a community that are not easily known by an out of town Realtor. How does someone know that there is a less well known toxic site on the street you are looking on? How about property values in a certain part of town are notoriously less valuable than another but there is no clear distinction (Southborough and Natick are 2 examples). Also, who can highlight those features of your community to out of town buyers that have questions at the open house? You are best served with a agent who focuses on that town.

I have worked for 14 years around Metrowest towns like Framingham, but I would not pretend to know the full marketplace around Walpole/Sharon. While I have sold outside my core communities, it is always with a conversation to the client that I can find them a more local agent to serve them.

I have a great network of fellow Realtors that I refer my clients to, and we have an industry standard where they will still pay me a referral fee on the successful transaction. So it is a win for the client and I still am compensated for my trusted relationship with the contact.

Another thing I have learned after 14 years is that with all the changes in the mortgage business over the years, that you leave that industry to professionals in that area. I highly recommend that you use advice from a well qualified local mortgage broker for the additional questions you have about financing. I do think you should get an accurate picture of what is the likely selling price of your home and combine this with the numbers for a preapproval. The mortgage broker should be able to run a likely scenerio situation for you, so that you are not flying blind where you will end up once you sell your current residence.
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Stephen Flah…, Agent, South Boston, MA
Sat Jul 7, 2012
My company is offering 25% buyer rebate program and also a 3% friends and family listing agreement. Please feel free to contact if its something you might be interested in.

Also have a mortg broker that has been in the biz for 20 years that can answer all your financing questions.
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