Lifestyle

Bank’s refusal leads to price-cut for Massachusetts tiny home


IT LOOKS LIKE A TINY HOUSE WITH A BIG PRICE TAG IS HAVING TROUBLE SELLING. >> IT IS ONLY 251 SQUARE FEET. IT IS STILL ON THE MARKET. THE PRICE HAS DROPPED. IT’S NOW LISTED AT 389 DNOW FROM 450. THE REALTOR SSAY THEY WANAT CASH BUYER BECAUSE TO SEL

Asking value for tiny home slashed after financial institution refuses to finance supply

A tiny dwelling with a giant price ticket within the Boston space is having some hassle discovering a purchaser.The 251-square-foot dwelling at 1295 Boylston St. in Newton Highlands attracted instant consideration for its dimension and preliminary asking value of $449,900. That equates to roughly $1,792 per sq. foot.Realtor Hans Brings, with Coldwell Banker, mentioned the proprietor acquired a number of provides within the first week and accepted one.”Sadly, the customer was unable to acquire financing as a result of each lender they contacted mentioned the house was too small to finance,” Brings wrote in an e mail. “The backup patrons had the identical points.”So, the tiny dwelling with an open floorplan, an up to date kitchen and a fascinating location is again in the marketplace with a brand new asking value and a brand new technique.Brings mentioned the proprietor is now hoping to discover a money purchaser who can afford to pay $389,900.In keeping with the itemizing, the bed room is a loft with knee-high ceilings. The kitchenette boasts a brand new granite countertop, and the toilet was not too long ago transformed. It’s situated on a 2,452-square-foot lot. There’s a “prepared to complete basement” that may supply a couple of further sq. ft. In keeping with the Massachusetts Affiliation of Realtors, the median value for single-family properties within the state was $552,000 in August.

A tiny dwelling with a giant price ticket within the Boston space is having some hassle discovering a purchaser.

The 251-square-foot dwelling at 1295 Boylston St. in Newton Highlands attracted immediate attention for its dimension and preliminary asking value of $449,900. That equates to roughly $1,792 per sq. foot.

Realtor Hans Brings, with Coldwell Banker, mentioned the proprietor acquired a number of provides within the first week and accepted one.

“Sadly, the customer was unable to acquire financing as a result of each lender they contacted mentioned the house was too small to finance,” Brings wrote in an e mail. “The backup patrons had the identical points.”

So, the tiny dwelling with an open floorplan, an up to date kitchen and a fascinating location is back on the market with a brand new asking value and a brand new technique.

Brings mentioned the proprietor is now hoping to discover a money purchaser who can afford to pay $389,900.

In keeping with the itemizing, the bed room is a loft with knee-high ceilings. The kitchenette boasts a brand new granite countertop, and the toilet was not too long ago transformed. It’s situated on a 2,452-square-foot lot.

There’s a “prepared to complete basement” that may supply a couple of further sq. ft.

In keeping with the Massachusetts Association of Realtors, the median value for single-family properties within the state was $552,000 in August.



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