Category: Home Buying
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5 best tips for newbie roommates renting
Reader Question: Hello Monty, 3 of us are looking to rent a place. We want the total rent to be as close to $2,300.00 per month as possible. We want to start a lease in June, 2024. Can you find an agent for us? Robert. Tampa, FL Monty’s Answer: Hello Robert, Monty can only find an agent…
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Todays three choices to find your real estate agent.
Reader Question: I need to locate a reliable, and trustworthy real estate agent in my area qualified to submit a bid on a HUD home. What’s your suggestion? The property is in Roseville, CA. – N.A. Monty’s Answer: Notice:This 10 year old article has been updated on December 4, 2023, with a fourth option: Hello N.A…
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5 best home buying tips in a sellers market.
Reader Question: Hi Monty, My daughter has been actively looking for a house through a Realtor. Every time she finds ‘the right house’ for her and her future husband, and bid on the house, someone has paid the full price for the house. Do you have any suggestions on what she can do? She is…
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Buying commercial property for use as personal storage.
Reader Question: I am buying a commercially zoned property for personal use. I will be storing personal items and not operating a business. The value of the property is $35,000 dollars. Will I be required to get a commercial mortgage? Also, would I be required to carry commercial property insurance or would regular property insurance be sufficient? Bob I. Monty’s Answer:…
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Calculating the risk of owning two homes.
Reader Question: My home is paid for and recently went up for sale (375k). I want to buy another home in the neighborhood (420k). How can I do this before my present home sells? I do not want to miss out on the other home. Thanks, Robyn. Monty’s Answer: Hello Robyn, thanks for your question.…
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Evaluating an unsolicited proposal requires work.
Reader Question: Hi Monty, My spouse and I live in a rental home that the current owners want to sell to us. They floated an idea in which they become the “lender”, sell us the home and we make payments to them. Is this a dumb idea? Is this possible with the real estate laws? If it can be done,…
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Solving a real estate “Cold Case”.
Reader Question: Hi, I’m trying to buy a piece of land from a private owner. Apparently he got the property at auction several years ago. My title company found an unsatisfied mortgage from 27 years ago. It seems that the company that held the loan had gone out of business. No information can be found…
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Making a home offer right the first time.
Reader Question: When putting a bid on a home, how much below the asking price is a reasonable first bid? Christina H. Monty’s Answer: Hello Christina, that is a good question. It is not an easy question to answer because with each property the circumstances of the seller are unique and your circumstances are also unique.…
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Land Contracts are a viable home financing option
Reader Question: Hello Monty, I have a question on a method of buying, what it is called and if it is legal. I would like to buy a house that the owner owns free and clear. Let’s say the sales price is $48,000. I would like to come to an agreement with the owner that…
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3 Tips To Master Evaluating A Home
Reader Question: Monty, I am a first time homebuyer. I have been saving for several years and have a good down payment, but I am in no hurry. I like your column, but there are so many topics to consider. Is there is one single subject that I could focus on to simplify the home buying…
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Tips For Evaluating Vacant Land
Reader Question: I have 39.75 acres off I-40. What is it worth? Mike Monty’s Answer: Hello Mike. I cannot answer the question without walking the land. I-40 is a 2,559 miles long highway. It goes through 8 states; from large metro areas to very isolated rural places. The property values along the highway vary like…
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The Downside To Tough Negotiations
Reader Question: If a buyer has a contract on a house, home inspection was done and the buyers attorney filed a letter to the seller’s attorney that all work has to be done by the seller and have not received a response can the listing agent put this property listed on the market with a lower amount…
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Buying Homes With Prices This Low
Reader Question: Monty,houses are selling at one third of what their market value was five years ago. Should I buy one, two or more? Monty’s Answer: The answer to your question will be different for different people. There is no “right” answer. Most of us have circumstances that are unique that others do not share.…
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5 Renovating Tips In Rundown Neighborhoods
Reader Question: Are there any strategies or tips for renovating houses in run-down areas? A friend and myself want to purchase and renovate a property, but the budget is limiting the types of properties available to us. We have found plenty of houses within the budget that require renovating at a price we believe we…
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Participating In The Foreclosure Market
Reader Question: Monty, I found a home I loved, but it was under contract. The market seems more competitive, but I have a decent real estate agent. Because the market seems tougher, I wonder how to get into the foreclosure market. If you have any advice here, I will appreciate your thoughts. Bridgette S. –…