Category: Home Selling
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Dealing with “condition issues” when selling your home
Reader Question: My garage floods due to driveway runoff during heavy rains. I am getting ready to put the house on the market as I am relocating to a different state. Do I need to disclose this as a drainage issue on my seller’s disclosure? Thanks. Brad W. Monty’s Answer: Hello Brad, and thanks for…
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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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How to determine which items to leave when selling a home
Reader Question: I am selling my deceased parents home. Should I dispose of items such as the refrigerator, chest freezer and professionally installed gas heating stove before showing the home? Is it better if they would be included in the sale? Mike T. Monty’s Answer: Hello Mike, and thanks for your question. The information provided is not…
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Overcoming a real estate inspection defect
Reader Question: Monty, I recently had a home inspection, and it is noted that my potential property had a crack in the brick due to beam shifting. If the seller does not want to repair the items because he has backup offers, what can I use as negotiating power? Thanks. Josh D. Monty’s Answer: Hello Josh, and…
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6 good tips to prepare for an offer on your home
Reader Question: Monty, we listed our home for sale about a month ago. Our agent just called to say she is expecting an offer later today. We have no idea how to handle this, but we want to be smart about it. Anything we should do to prepare? Thank you. Carl and Megan H. Monty’s…
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Selling your home? Be certain to check out the competition.
Reader Question: Monty, what market information do we need to help us determine the asking price when we first offer our home for sale? Doug P. Monty’s Answer: Hello Doug, and thanks for your question. The words “market information” infer the question asked is about external market data separate from the data about your home. Asking about…
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Real estate agent puts commission at risk
Reader Question: I own a business and the property. I recently decided to close my doors and retire. I put a sign in the front window closing business. A Realtor came in and asked is the property for lease and could she bring a client down to look at it. After looking at it, the…
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Why the “Home Lookers List” is hard to obtain.
Reader Question: Can I ask my real estate agent for a list of the people who have inspected my home? Nan D. Monty’s Answer: Hello Nan, and thanks for your question. The answer is that you can ask your agent for a list of people that have looked at your home. That being said, not…
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The best method to value small business property.
Reader Question: My husband and I own a small business on a commercially zoned street in a city with about 100,000 people. We are thinking of selling the business and property. Could you recommend an appraiser here? The building is very old and is “grandfathered.” We also own an adjoining parking lot. We would like…
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Selling church property requires expertise.
Monty’s Answer: Hello John, and thanks for the questions. A “bill of sale” is not the correct instrument. A deed that describes the property to be conveyed is the correct document. The survey the neighbor ordered will contain the necessary legal description of the land. The deed will be recorded with the governmental unit responsible for maintaining…
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Making adjustments indispensable when valuating property.
Reader Question: Is it proper in valuing residential real estate to adjust the comparable sales value by the “cost” of amenities not present in the comparison properties (i.e. an outbuilding-indoor riding arena)? Fran D. Monty’s Answer: Hello Fran, thanks for your question. The answer is “yes,” unless the building is about to fall over. Fee…