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Author: Monty

  • 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. 

  • Mom stiffs son-in-law in real estate deal

    Families are the main sources of oral real estate transactions. Mom stiffs son-in-law is not uncommon. Brothers, sisters, cousins, grandpa; no one is immune. The advice to “get it in writing” is as or more important in families.

  • Annexation foils a move to the outskirts

    Annexation is common as our country’s population grows. If you are moving to avoid the high taxes and city hall, check this article out first.

  • Eight extra due diligence tips when buying condominium units

    Buying a condominium unit is different than buying a single family home. It is a complicated process in comparison.

  • Pros and cons of owning a second home

      Reader Question: What are the pros and cons of owning a second home? My wife and I have the opportunity to purchase a second home. I’ve spoken with the homeowner, who is a friend of mine. He stated that he would like to get about $200,000 out of the sale. We are thinking of…

  • Three home inspection practices to scrutinize

      Reader Question: ​I am a seller. My agent got me an offer that required a home inspection. When the investigation took place, they determined the electrical breaker box needed replacement. This discovery caused the buyer to back out. Now, can I sell my house without this upgrade and negotiate the price accordingly, or must…

  • Can I use real estate equity to fund a startup?

        Reader Question: I am pursuing a business startup that compliments my family’s existing construction business. I have a little funding myself and some customers. I need to raise additional capital to grow and deliver the best service possible. My family business has shown interest in investing/loaning me some funds for developing this startup.…

  • Seven tips to identify a flipped home

    Reader Question: We bought our current home a year ago. We realize houses and their systems are always wearing out, but in this house, it feels like the repairs and replacements are inordinate. The latest example is electrical. The electrical panel box was new, but we have had several electrical issues. The home inspector said…

  • 10 facts to find the best mortgage loan

    Reader Question: How can I find the best mortgage loan? Monty’s Answer: I answered this question several years ago, but it bears repeating. Comparing the cost of mortgage loans is a challenge for most mortgage shoppers. Do this before you look for your home. The most helpful lender may also have the best pre-approval letter.…

  • Five Tips Avoiding a Bidding War

    Reader Question: We tried to buy four homes in 2019. We missed on all of them. We live in one of the cities that always makes the news about multiple offers and a hot market. We were not happy with our agent, but it may just be a case of us looking for someone to…

  • How to gain real estate investing experience

    Reader Question: I have been inspired to go into real estate investing since I have recently lost my job. I don’t have any real estate experience. I don’t have a practical knowledge on how to leverage with OPM (other people’s money). Please recommend what I can do to help me gain experience? Monty’s Answer: There…

  • Do real estate agents negotiate fees on dual transactions?

    Reader Question: Do real estate agents negotiate fees on dual transactions? My wife and I are in the process of downsizing. We have shopped neighborhoods and have chosen where we would like to land. In this process, we have had one particular agent show us 5 or 6 homes. Now it is time to list…

  • Eleven reasons to interview real estate agents

    Many home buyers pick an agent because they are relatives, co-workers, referred by a friend, or met at an open house. While they are likely all nice people, none of these connections by themselves is a good reason to pick a real estate agent. There are good real estate agents, but they are not easy…