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Author: Monty

  • 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…

  • Are online value estimates harmful?

    Home sellers and buyers need to be cautious using online home valuations websites that do not disclose accurate PSF costs. In real estate, cost sets the upper limit of value and understanding why is important.

  • Home seller questions agent motives

      Reader Question: We used a buyer agent to find a new home. Now we need to sell our home. We got him to look at our house. The lower commission does not seem to motivate him, and he is not interested in us now that we have concluded buying a home. He wants to…

  • Is there a superior method to evaluate homes?

    Our reader this week views appraisals as obsolete. While there is some credence to his opinion, the better mousetrap remains elusive particularly, when the experts are expecting to conquer the challenge without even inspecting the property. I, for one, believe a set of knowledgeable eyeballs physically observing the property will be challenging to eliminate. Online…

  • Do unkempt neighborhood homes affect my home’s value?

    Homeowner has a feeling the neglected homes in the neighborhood are affecting value. When they learn the answer, they will have a decision to make.

  • Four Suggestions to Protest Your Tax Assessment

    Our reader is frustrated that the town assessor is not cooperating with his argument for reducing property taxes. It can be difficult to win these battles, but here are a few thoughts that may help.

  • Should I Rent or Buy A Home?

    Reader Question: I am 65. I have been living in Alabama since 2004. I lived with a family member who has since passed away. Now I am out on my own renting a house. I have had an excellent job with the same company since 2005. At the end of this year, I will retire…

  • Four reasons to track home improvements

    Our readers this week are wondering about sharing improvement information with a potential buyer for their home. It is common for buyers to research properties they become interested in, another twist created with the evolution of the internet. The prospect asking is a sign of keen interest. It could bode well for our readers.

  • Is a renovation mortgage right for you?

    Reader Question: We are looking to buy our first home. We have seen a house we like, but it needs renovation. The house has been neglected but has a solid structure. We have a down-payment and good credit. Twenty-percent down at our price point, but not enough cash to make the down payment and do…

  • The home seller wants out; the buyer says, “NO!”

    The seller now wants to back out of the contract. Can they force us to release them from the contract?

  • Who pays the real estate commission?

    Reader Question: We are starting to explore buying our first home. We have attended several open houses and spoken to several real estate agents. One of the questions we have asked is who pays the real estate commission. It is a question to which we have received different answers. In discussion with family members and…

  • How A Pre-Owned Home Can Win Against New Construction

    Home seller’s agent advises seller the home is losing to new construction. Seller is asking how to win against new construction. The article has some excellent tips about how to win against new construction.

  • Six options to consider when the house appraised low 

    The seller canceled escrow when the house appraised low. Am I stuck with the appraisal fees? You are responsible for the appraisal cost. Try to look past this bump in the road. Appraisals disrupting sales are frequent.