Most Common Back Bay Condo Sellers Questions
First impressions matter for Back Bay condo sales, and especially in luxury real estate. Anyone walking through your Back Bay condo or touring it virtually will be looking for ways to pass or later on negotiate down on the price. Each room should look clean and decluttered with no overt damage insight.
Getting a pre-sale Back Bay home inspected is never a bad idea. Some luxury Back Bay buyers will feel uncomfortable purchasing a condominium or townhouse without seeing a home inspection. Many will often hire their own inspector. It’s better to be safe than sorry.
Once your Back Bay condo is on the market, it may take anywhere from four to six weeks to sell. However, if the market is fairly hot, a seller could see their house off the market within a week. On the flip side, if there is a lull in the market or issues arises such as negotiation, lack of exposure, or house conditions then the property can sit on the market for months.
The selling price of a Back Bay property fluctuates depending on multiple factors. The most common ones are what similar-sized properties are currently selling for. Also, look at the age and condition. Do major repairs need to be done? If so, that might lower the property. And again, the market matters. Like everything else, Boston condo prices vary depending on supply and demand.
The City of Boston operates under a property tax classification system. … The tax rate is the amount a taxpayer owes for each one thousand dollars of property value in a given year. The tax rate for a given fiscal year appears on your third-quarter tax bill, which is typically issued in late December
A public tax assessor gives the assessed value for a property. This assessment typically occurs yearly for taxation purposes. The fair market value is an agreed-upon price between a willing buyer and seller. There is usually a difference between the assessed value and market value. For homeowners, the assessed value is a double-edged sword. Because, if their annual assessed value increased then their yearly taxes will also be raised. On the flip side, when selling a house it can help boost its market value.