Sophia Smith House Sale
The Sophia Smith home in Hatfield, Massachusetts, is being offered for sale. This offer of sale is limited to Smith College faculty and staff.
The house will be offered for sale at 80 percent of its appraised value. The appraised value is $530,000 and the reserve sales price is $424,000. The home must be resold to Smith if the buyer ceases to be employed by the college. The college will repurchase the home for 80 percent of its appraised value at that time, which will be determined by the appraiser appointed by the college.
The college will convey the property to the eligible buyer subject to restrictive covenants which will include: resale to the college, approval of any major changes in the structure or exterior, and use of the property as the purchaser’s primary residence. The college’s Second Mortgage Plan will be available to eligible newly hired employees who are relocating to the Northampton area. Full detail of the college mortgage plan can be found in the Employee Handbook.
The property is located at 22 Main Street, Hatfield. To set up an appointment to view the property, or for any other questions, please contact Liz Gallinaro, director of rental properties, at egallinaro@amherst.edu or 413-542-8508.
Potential buyers must submit a bid no later than 4 p.m. on June 1, 2018. Offers will be evaluated based upon highest offer price. In the case of multiple buyer offers being submitted at the same price, buyers will be contacted to determine interest in updating their offer.
Potential buyers must obtain a pre-approval letter from their lender. Due to the re-purchase clause, buyers can typically only obtain special mortgages, which are subject to different underwriting guidelines than standard mortgages. The college has identified four local lenders that are familiar this program; Florence Savings Bank, Five College Credit Union, Greenfield Savings Bank and People’s Bank.
About the Sophia Smith House
- 22 Main Street, Hatfield, MA 01038
- Floor Plans (PDF)
- 7 rooms, 3 bed, 2 bath
- 2,732 sq/ft
- .67 acres
- Forced hot air
- Built in 1790
Recent updates include: replacement windows, whole house exterior paint, whole house alarm and monitoring system, and extensive maintenance to interior paint, yard, and heating and cooling systems.
Photo Gallery
Recent updates to the house include replacement windows, whole house exterior paint, whole house alarm and monitoring system, and extensive maintenance to interior paint, yard, and heating and cooling systems. The house will be offered for sale to Smith faculty and staff.
