Key points
- Closed sales show what buyers paid; asking prices show what sellers hope. Price from the first, adjusted for real differences.
- Under MLS PIN rules, days on market carry over unless a property has been off the market for at least 60 consecutive full days before it is relisted. Days from a listing that ended in a sale do not carry over.
- Compare offers on six dimensions: price, net proceeds, financing, contingencies and deadlines, deposits, and closing date and occupancy.
- Estimate net proceeds in writing and confirm the figures with your closing attorney.
Start from closed sales, then adjust
A useful price opinion starts with homes that actually sold: similar type and size, nearby, and recent. Each comparable is then adjusted for the differences a buyer would notice, such as condition and updates, layout, parking, outdoor space, floor level in a condo building and the date of the sale.
Active listings matter too, because they are what buyers will see next to your home. Ask to see both lists and the reasoning behind each adjustment, not only the final number.
The first weeks on the market
Attention is usually highest in the first days a home is listed, when active buyers and their agents see it for the first time. A price that is well above the comparable evidence can cost that window, and a later reduction rarely recreates it.
Withdrawing and relisting does not quickly reset the history. MLS PIN carries days on market forward unless the property has been off the market for at least 60 consecutive full days immediately before the new listing. Days from a listing that ended in a sale do not carry over.
Compare offers on six dimensions
The highest price is not always the strongest offer. Put each offer in the same table.
| Dimension | What to check |
|---|---|
| Price | The written offer price and any escalation terms |
| Net proceeds | Price minus payoff, broker compensation, transfer tax, attorney fees and credits |
| Financing | Loan type, down payment, lender letter, how an appraisal shortfall would be handled |
| Contingencies & deadlines | Inspection, mortgage commitment and other dates, and how long each stays open |
| Deposits | Amounts at offer and at the purchase and sale agreement, and who holds them |
| Closing & occupancy | Proposed closing date and any request to rent back after closing |
Estimate net proceeds before you choose
Two offers a few thousand dollars apart can produce the same net figure once credits, closing dates and carrying costs are included. Ask for a written estimate for each serious offer and have your closing attorney confirm the payoff, the Massachusetts deed excise and the prorations for taxes and condo fees.
Responding with a consistent process
With several offers, decide in advance how you will respond: counter one buyer, or ask all for their highest and best terms by a stated deadline. Evaluate offers on their terms and the buyers’ ability to perform. Federal and Massachusetts fair housing laws prohibit treating buyers differently because of protected characteristics.
General information for Massachusetts sellers. Net proceeds, tax and contract questions depend on your documents; confirm them with your attorney and tax adviser.