Category: Negotiating for Sellers
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Are real estate commissions fair?
Reader Question: Are real estate commissions fair? I’m the homeowner. I just listed my home with a real estate agent. I told a friend I was selling, and they want to buy it for cash. I called my agent to negotiate the $24,000 commission because it hasn’t been on the market 24 hours. My agent…
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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…
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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.
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We have an offer for a million dollars over appraisal
Reader Question: We have an offer for a million dollars over appraisal for our building and parking lot from a developer. They offered 2.2 million dollars with a one-year requirement for us to vacate. We have a separate independent appraisal valuing the two parcels at about $1.2 million. The plan is to demolish the building and…
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Six tips to resurrect a failed negotiation
Reader Question: We have a failed negotiation. A buyer has an accepted offer on a home, and a home inspection has revealed several items that are defects. The buyer’s attorney delivered a letter to the seller’s attorney stating that all work discovered in the inspection has to be completed by the seller. The seller has not…
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Six steps to take with a low-ball offer on your home
Reader Question: Our home is for sale for $284,900. It has been for sale for two months. We just received a low-ball offer for $245,000. We are very disappointed and stunned with the offer. We feel like telling them to get lost. How should we deal with this situation? Monty’s Answer: The offer is about…
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Home seller agrees to pre-closing occupancy
Reader Question: Pre-closing occupancy is okay with me. I am selling my home myself. The buyer wants to move furniture in before closing? I want to do it legally. Help! Thanks, Mary T. Monty’s Answer: Your question is one of the thorniest situations in real estate transactions. The potential of alienating the buyer by saying…
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A perfect storm – How to create poor real estate decisions
Reader Question: My mother wants to have a home built. She has been advised that she should not sign the purchase agreement before she sells her home to avoid a large tax. She is 85 years old. She was also told to keep all utilities on at old home until sold. Are these points valid? Thank you,…
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How to protect your home equity in a divorce
Reader Question: I am separated from my husband. Instead of selling the house he wants to buy me out. He is a Realtor and wants me to pay 3% commission to him for this transaction. Is this legal? Rachel D. Monty’s Answer: Hello Rachel, and thanks for your question. The simple answer is that it is legal…
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So, you’ve been transferred
When you have been transferred, seek out the person that administers your relocation benefit immediately on notification of the new assignment. Do not depend on the water cooler talk with other employees as it may result in misunderstandings or miscommunications. The water cooler is not aware of a variety of internal and external communications that…
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Negotiating for home sellers
Negotiating for home sellers is an important key So many times ego, misinformation or just downright stubbornness costs a sale unnecessarily. In most cases, one or both of the parties were not willing to consider the concern or objection of the other party. Many critical concerns will be discussed and decided upon during the real…