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Home Buying

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Author: Monty

  • Six considerations in selling your home yourself

    Our readers today are considering selling their home without using a real estate agent. As home prices rise and real estate fees rise with them, the industry is experiencing resistance. There are more and more options appearing to meet the demand for lower rates.

  • Does extended market time reduce a home’s value?

    Reader Question: We have a real estate agent telling us not to list our home for more than ten-percent above her recommended price. She claims that if we do, it will ultimately cause us to accept an offer that is lower than any offer we would get if we listed at her suggested price. She…

  • Home Seller Upset As Buyer Refuses To Share The Appraisal

    Seller upset buyer refuses to share the appraisal and is considering backing out and renting the house. Seller does not realize the consequences for taking this route. Calming down and patience may help.

  • Seller Stumped With Fireplace Inspection

    Reader Question: A potential buyer has made an offer on our home with a contingency for a fireplace inspection. The chimney inspector started inside and took many measurements of the fireplace and the mantle. Then he went outside and lowered a special camera down the chimney. He came back inside the house and showed me…

  • How to buy the vacant lot next door

      Reader Question: We have some property in a popular vacation area where we are building a cottage. Soon it will be finished. We bought the lot six years ago. The lot next to us just came up for sale. We think it is best to buy it for our overall property value. Based on…

  • Timing your real estate transaction

    Reader Question: ​Our home has been on the market for one month. We started at $698,500 and reduced it to $685,000 after two weeks. The house is 3564 square feet in a desirable older neighborhood. We’ve had two showings and much positive feedback. The only negative is that we have no backyard. Our agent now…

  • How to verify lot lines

    When buying a home it is important to verify lot lines. Avoid angst in the future when you build a fence on your neighbors property.

  • How illegal is raising the price $5,000 for buyer closing cost?

      Reader Question: I recently sold a home, and the buyer didn’t have enough money for closing costs. They asked me to sign papers that raised the purchase price $5,000. I want to know because the buyer got $1,000.00 of my hard-earned money. On the day of the closing, I hadn’t cleaned everything, so I…

  • How To Evict A Relative From A Rental Property

    Reader Question: My father doesn’t know how to evict a relative from a rental property. It was to be temporary, but it has been four years now. I know that they didn’t sign a lease, and they don’t have anything that says how long they can stay. What can we do to get them out?…

  • Critical Deadlines on Home Sale Documents

    Our reader this week asks about a deadline for receiving an answer to an offer to purchase a home. It is a simple question but leads to the realization that potentially there are many deadlines to follow. This instant is where planning is required up-front to avoid a stressful and frustration filled experience. The expression…

  • Does zoning affect affordable housing prices

    A brief overview of the issues involved in rising home prices in new developments. Is America pricing the middle class out of home ownership? Zoning is a fractured and complicated issue.

  • Remodel or Build New?

    Reader Question: We are empty nesters nearing retirement. We are considering a major remodel of our home that would involve some destruction, an addition, and a total makeover, including a new kitchen, bathrooms, floor coverings, lighting, and more. The thought of building new has entered the conversation as an option. What are the pros and…

  • Appraisal vs. Agent Sets Home Price?

    A home seller asks if an appraiser, or a real estate agent should set the price on a home. The answer is using one person, regardless of type of license is very risky.

  • Treat family like outsiders with real estate deals

    Our reader wants to know if he can use a quitclaim deed to buy property from a sibling. He can likely do so, but needs to educate himself about the cons of doing so.

  • Can a For-Sale-By-Owner pay a commission to an agent for finding the buyer?

    Our reader today exemplifies the plight of the for-sale-by-owner. While I applaud those who venture out to reduce expenses, rather than earn more, real estate remains a bit like the wild west even today. There are no enforceable standards of practice in an industry where your competitors are also your best customers. Interestingly enough, I…