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Author: Monty

  • One tip overlooked in a real estate negotiation

    Reader Question: We are considering making an offer on a home. We are both employed in jobs that require some negotiating skills, but this is our first foray into real estate. We have built a small list of potential points to use in the negotiation if we move forward. What is the one tip you…

  • Eight critical factors FSBOs should consider

    Reader Question: We will be selling our home in the coming months. A friend who sold on their own talks about how she felt it was worth the time and learned a lot from the experience. Another friend tried it and said it was a big waste of time and money. He spent about $800…

  • Ten tips to buy or sell your home during COVID

    Reader Question: We need some tips to sell our home during COVID. We are planning to sell come spring. We have noticed surging home sales across the US, so we know home sellers are active in the market, even with COVID. We want to be prepared to show our home considering COVID. What should we…

  • The downside to fighting a real estate development

      Reader Question: My family was fighting a real estate development 20 years ago. We own 60 acres of beautiful land in the midwest. A sister owns an adjacent property. We are landlocked on three sides, and our access is a one-lane road. Back then, the neighbor who owns the three sides wanted to develop…

  • Why are there still poor real estate appraisals?

      Reader Question: Today, we have fantastic technology. We have companies using algorithms that evaluate homes without even walking through the house. Yet we still have poor real estate appraisers. I want to refinance my home with the low-interest rates. I am working with one of the big players that lend across the country. I…

  • Is home buying in the pandemic the right time?

      Reader Question: We are considering buying a home. My husband and I both have good jobs, no debt, and more than an adequate downpayment. We have spent several years saving, and now we feel ready financially. There are many distractions today; we wonder if buying in the pandemic is the right time? Monty’s Answer:…

  • Who should have caught this condition problem?

      Reader Question: I bought a house a year ago with some permitted room additions. However, the flipper replaced the electrical box from 100 amp to 200 amp non-permitted. This work was not disclosed to me or caught in the homeowner’s inspection. So now, I have been experiencing electrical issues at my house. The utility…

  • Nine steps to take when pricing a home for sale

      Reader Question: We are planning to sell our home. In researching the subject, the standard advice is to call a real estate agent. We get that, but from a potential seller’s point of view, that is very simplistic advice. What do you suggest someone do when pricing a home for sale? Monty’s Answer: You…

  • What’s wrong with the real estate industry?

    Reader Question: What’s wrong with the real estate industry? We have a large family by today’s standards—five grown children with children. At a recent family reunion, we discussed real estate and ended up taking a poll. Transaction number ten started the conversation. Together they have concluded nine transactions, with number ten now pending. Only one…

  • Is Our “Buyer Agent” Legitimate?

      Reader Question: We recently purchased a home. We used a buyer agent because we understood that a buyer agent works for the buyer instead of the seller. Our friends also bought a house recently, and they used a buyer agent. We just learned that our friends signed a buyer agent contract when they started…

  • Home buyer is afraid of hidden home defects.

    Reader Question: We like a home and want to make an offer. The seller is offering the home in “as is” condition and did not complete a seller condition report. While we do see conditions that will require repair or replacements, those repairs do not seem severe enough to go “as is” on us. Our…

  • Seven points to consider when home buying during COVID

    Reader Question: We are thinking of buying a home. We have saved a substantial down payment by living frugally for 15 years. We both have good jobs. The thought of taking on a mortgage is a bit frightening to us. It feels like there is much uncertainty with the economy, COVID, and more. Do you…

  • Can Real Estate Agents Legally Go Door-to-Door

      Reader Question: Can Real Estate Agents Legally Go Door-to-Door? Last night, about 7:30, a local real estate agent rang our doorbell to ask if we wanted to sell our house or knew anyone who wanted to sell. I was always under the impression that this sort of solicitation was considered inappropriate by real estate…

  • When the listing agent and seller are great friends

    Reader Question: Just put an offer on a house, and we are under contract. The listing agent and seller are great friends, live on the same street, and have known each other for many years. They are friends with a contractor who does work for them. Following my home inspection, some items came up. The…

  • Can real estate agents “game” the MLS system?

    Reader Question: ​Can real estate agents “game” the MLS system?​ ​When my current listing expires, how long do I need to wait to list again if I want my second listing to be marked “new” instead of “relist?” ​ ​ ​Monty’s Answer: There are over 700 multiple listing services (MLS) in the U.S., and they…