Category: Home Selling
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Listing agent flip-flops on price
Reader Question: Our agent flip-flops on price. We listed our home two weeks ago for three hundred fifty-nine thousand nine hundred dollars. Our agent recommended this price and showed comparable sales that supported the recommendation. Yesterday they presented an offer for three hundred five thousand dollars and suggested we accept it. We are stunned and…
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Six huge real estate transaction errors. Can you spot them?
Reader Question: We purchased and updated an “ as-is ” home in the late nineties. The seller tried to renege at the closing, but our agent prevailed. Her help created a bond, and we remained friends for years. We spoke highly of her, sent her clients and potential employees. We decided to move and listed…
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Should my real estate agent also represent a buyer?
Reader Question: If my listing agent has a potential buyer, can he represent a buyer as well as the seller? Michelle G. Monty’s Answer: The agent that listed your home contracts with the broker who is your agent in the sale. You have representation, so the question is; will the buyer seek representation, and if…
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Deal with inherited property issues quickly
Reader Question: We have inherited property issues. My father passed away and left the house to his four children of which I am one. We all agreed to allow a disabled sibling to live in the house free of charge. He lived in the house for five years and passed away. His fourth of the house…
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Eight tips for a relocated employee incurring a $90,000 loss
Reader Question: My husband is a relocated employee through his employer. They use a large relocation firm. Our benefits package pays some costs, but no house buyout. We bought a new home in the new location. Our old house has been on sale for over 18 months. The agent says new home construction is the…
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Seven tips when selling partial property interests
Reader Question: I currently co-own a house with my two sisters. It was in our mother’s estate. One of the sisters wants to buy the two of us out which is fine with us, but we want to make sure the price she is offering is fair to us all. We had an appraisal…
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Right-of-first-refusal complicates negotiations
Reader Question: My wife and I own a large tract of land. We want to sell off a one hundred acre parcel. We have a written offer-to-purchase that has been in negotiation for over ninety days. The buyer wants a “right-of-first-refusal (ROFR) should we sell off more land in the future. The offer contains…
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Can a home seller have two prices?
Reader Question: I showed a home to my client eight months ago. The price at that time was $1,200,000. The current price of the property is $624,900. The listing broker told me that because my client looked at the higher price, they still must pay the original price even though the price has dropped dramatically.…
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Multiple choices improve consumer experience
Reader Question: Why do you recommend interviewing multiple people when choosing a real estate agent? Honestly, it seems unwieldy but I would like to understand the logic. Paul H. Monty’s Answer: Interviewing all service providers, not just real estate agents, is a practice that improves the consumer experience. It does take some time to…
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I want out of the sales contract
Reader Question: I want out of the sales contract I signed yesterday. Can I change my mind and decide not to sell? If I can do this, what liabilities would there be to me? Monty’s Answer: First know it is not uncommon for a seller to experience a malady called “sellers jitters.” Our most cherished memories…
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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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Property owner questions eminent domain offer
Reader Question: We are in the middle of an eminent domain offer. Our rental house is being taken for a new highway. We have 101,685 square foot property with a 1466 square foot 3 bedroom, two bath house. The Department of Transportation (DOT) offer came in at two hundred thousand dollars. Based on other sales…
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Which real estate agent to choose?
Reader Question: I am going to sell my home. One Realtor has an awesome marketing plan and a lower commission, but there was no chemistry. Another Realtor whose commission is higher, and marketing is not as vast, but good; established some chemistry. Which real estate agent do I choose? Ashley B. Monty’s Answer: Based…
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Should home sellers consider an auction sale?
Reader Question: As home sellers consider an auction sale and a traditional listing and cannot decide, your take on the differences would be valuable for us to know. Is an auction sale a good idea? Monty’s Answer: A real estate auction is an event conducted by an auctioneer on a certain date, place and time where…
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Listing tactics of real estate agent under fire
Reader Question: Hi Monty, I read your articles regularly and find them very helpful and now have a query myself. Our Realtor called us for permission not to present offers below asking price; we agreed, but I don’t understand it. Who does this help? Thank you for your assistance. Jan P. Monty’s Answer: A listing tactic…