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Category: Home Selling

  • Nine steps to take when pricing a home for sale

      Reader Question: We are planning to sell our home. In researching the subject, the standard advice is to call a real estate agent. We get that, but from a potential seller’s point of view, that is very simplistic advice. What do you suggest someone do when pricing a home for sale? Monty’s Answer: You…

  • What’s wrong with the real estate industry?

    Reader Question: What’s wrong with the real estate industry? We have a large family by today’s standards—five grown children with children. At a recent family reunion, we discussed real estate and ended up taking a poll. Transaction number ten started the conversation. Together they have concluded nine transactions, with number ten now pending. Only one…

  • Can real estate agents “game” the MLS system?

    Reader Question: ​Can real estate agents “game” the MLS system?​ ​When my current listing expires, how long do I need to wait to list again if I want my second listing to be marked “new” instead of “relist?” ​ ​ ​Monty’s Answer: There are over 700 multiple listing services (MLS) in the U.S., and they…

  • Six considerations in selling your home yourself

    Our readers today are considering selling their home without using a real estate agent. As home prices rise and real estate fees rise with them, the industry is experiencing resistance. There are more and more options appearing to meet the demand for lower rates.

  • Does extended market time reduce a home’s value?

    Reader Question: We have a real estate agent telling us not to list our home for more than ten-percent above her recommended price. She claims that if we do, it will ultimately cause us to accept an offer that is lower than any offer we would get if we listed at her suggested price. She…

  • Home Seller Upset As Buyer Refuses To Share The Appraisal

    Seller upset buyer refuses to share the appraisal and is considering backing out and renting the house. Seller does not realize the consequences for taking this route. Calming down and patience may help.

  • 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…

  • Timing your real estate transaction

    Reader Question: ​Our home has been on the market for one month. We started at $698,500 and reduced it to $685,000 after two weeks. The house is 3564 square feet in a desirable older neighborhood. We’ve had two showings and much positive feedback. The only negative is that we have no backyard. Our agent now…

  • How illegal is raising the price $5,000 for buyer closing cost?

      Reader Question: I recently sold a home, and the buyer didn’t have enough money for closing costs. They asked me to sign papers that raised the purchase price $5,000. I want to know because the buyer got $1,000.00 of my hard-earned money. On the day of the closing, I hadn’t cleaned everything, so I…

  • 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.

  • 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…

  • 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…