Chris Yochum

Hi Ryann, you will want to refer back to the offer and read it thoroughly, talk with your agent representing you and even a real estate attorney to advise for your specific situation. Depending on your state and the contract you accepted, generally you can accept back up offers that would go in back up position. This means that if the the buyer defaults or backs out for any reason you are able to move the back up offer into first position and proceed with it. Generally in my area, it is not recommended that the seller back out for a better opportunity or they can be liable for actual damages to the buyer.

Hello Ha, looks like you are asking as a buyer and wanting see if the agent will reduce their commission. If so, you will want to find out how the agent is getting compensated. Personally when representing a buyer I very rarely get compensated by the buyer at all. In general, the buyers agent will get a commission offered out by the sellers Broker. In this case, generally it is not standard practice to negotiate the commission if you are not the one paying it. If the buyers agent has an agreement with you on compensation then you can certainly ask if they would work with you on lowering their fee. Some are willing to do so, though others are not. Either way, in that case you can ask and unlikely going to be taken as rude.

Generally pricing higher means less exposure, less buyers and less money in the end. The more competitive you price it the better the end result in most cases. When pricing it high, most buyers wont look at a home thats prices higher than others comparable homes. If they do view the home, they are comparing yours to others that have more features and amenities. You will be helping your competition sell.

Generally the seller will pay the commission and be put in the contract. The other way is for the buyer to pay for the real estate agent commission, though if the buyer pays for the commission then is the buyer going to be willing to pay you the same amount they would have if seller was paying for the commission. In most cases it tends to be a wash. Who ever pays for the commission the seller generally nets about the same amount regardless.

You might be setting yourself up for failure, not giving yourself enough time. You can certainly lock up a rental in a matter of a day or 2 in many cases, though if your not familiar with the area moving to and moving to quick, it can be a recipe for disaster. Couple thoughts, maybe stay in a motel for a little while till settled in the area. Another idea, maybe contact the property owners of interest in advance to moving and discuss the situation and lock something up prior to moving to the area.

Generally when a home is listed with a Broker the seller will pay for realtor fees/commissions.

Hi Brandon, depending on state, county, mortgage pay off, other payoffs, realtor fee, or any other fees on the home sell this will vary accordingly. Last home I sold in the Reno area, last week, the seller received little over 93% of purchase price.

Its generally a good idea to focus on any health and safely concerns first and foremost. Many times when a buyer puts together a list of requests they will plan for the seller not wanting to do some, though each case if unique. Once getting a quote on all items from someone qualified to do so often the cost can be less than expected. If thats not the case, then you will want to decide on what is reasonable to you to accept and let your agent know so they can have that discussion with the other party. Sometimes you can offer out a credit to the buyers so they can do it themselves as well.

Great question. What do you do to sell homes? How long should it take to sell my home? How experienced are you in selling homes like mine? How much do you expect that I will end up with once all is said and done? Can you sell my home? How often will I hear from you and get an update on market, feedback on showings, and what changes need to take place to get my home sold?

There is no "standard" in the industry. In general, commissions are completely negotiable and depends on the specific agent or brokerage. Often the seller wants to minimize how much commission is offered out to one of the agents or both, though keep in mind that the commission is really an incentive for each agent to perform. The less you offer out, sometimes you can save some, though the less incentive there will be. The more incentive there is often will mean more service, care, diligence, and better results. This isnt always the case but something to consider.

Generally yes, you will have closing cost when selling and different closing costs when purchasing. It will depend on how the contract is negotiated in each case, though often when selling you will pay for realtor fees, title insurance, transfer tax, and potentially other fees specific to the contract or state. When purchasing you will often pay for lender origination fees, transfer tax, escrow fees or attorney fees and potentially other fees specific to the contract or state.

Comparative Market Analysis. which consists of most recent sales that are comparable to yours and what your competition looks like. Its used to determine current market value.

If your buying to live in your home long term than it usually always makes sense to purchase rather than rent. If your buying to live in short term, then the market could go up or down by the time you go to sell and can be very risky. Historically the market goes up over time. So depending on if you plan to stay in your home for a long time on not would be a big deciding factor.

Hi Mary, getting a pre-listing inspection can be a good idea. You will be able to see what items come up and let buyers know everything that has been addressed. The benefit of this is that when a buyer goes to put an offer on your home, they would have the chance to know the condition of the home up front, rather than them coming in thinking "what if there are issues with the property that need to be addressed?" This thought process from a buyer can cost you sometimes well in excess of what it costs to get an inspection and fix a few things that come up.

Best resources are County recorders office or county assessors office. Or you could pull a preliminary title report with the title company.

When selling a home, usually the buyers lender will order an appraisal which is often an expense of the buyers. If getting an independent appraisal you can just google appraisers in your area to order one.

I would suggest exactly what Jim recommended for questions. 2 additional questions to consider: 1) Do you have a preferred lender and what benefit is there to go with? 2) What is the process to getting something fixed after closing and moving in that is under warranty? Sometimes getting things fixed can be trouble, maybe even ask others in the community to see what there experience has been.

Definitely an experienced agent that can inform you of what is important on the specific home you are interested in, depending on area, age, condition, and many other factors. Secondly, ordering inspections that are going to be important on the specific type of property looking to purchase, like home inspection, pest inspection, or others that apply. Third, get title insurance.

Staging can definitely help to make home show better, attract more interest, and help to get a strong price. I would recommend connecting with a realtor first. The realtor can advise on what kind of staging is going to be best, give you recommendations on staging companies if desired and depending on your specific market whether or not staging is going to benefit you or how much staging will benefit you.

You will generally have withholdings, though the best person to answer this or any tax questions would be an accountant or CPA. "What percentage will I pay an agent to sell my unit" is a completely different topic. Commission is completely negotiable between you and the agent you hire.

It would depend on why selling or moving. If looking to upgrade then you would want to account for how much you need for down payment and make sure with the amount you have would allow for your new mortgage payment to be acceptable to you. You dont need any equity to sell, though if you can help it usually you want enough equity to cover the closing costs and down payment for next home.

You can often cancel by notifying your agent that you no longer want to work with them. You will want to review the contract you initiated with the agent to know what the cancelation policy is. Many times if someone is not happy with their agent they can simply just ask them to no longer represent and withdraw the listing.

Hi Brent, you certainly can and a great lender can advise best on how to go about. They would need to look at your situation specifically and advise appropriately. If you can save up a down payment without doing so would be preferred, though it can help you get in a home and start building equity. Each are good investments if you ask me. You may be surprised by some of the lending options that often require minimal down payment.

Its not typical to inform your mortgage company, though when selling your home it will generally be required to get a demand statement for the up to date payoff information which is in essence informing them that you are selling the home.

If you owe money after the sell you should have money left to buy another house. If you owe money at closing then you will need to write a check to actually close. If you owe and need to sell, then you will want to discuss with your agent and likely proceed with a short sale. A short sale can allow you often to be forgiven on or effect your taxes appropriately.

Both an agent or a broker are fine. The title of Broker often means more knowledge or experience though not always. You will want to talk with a couple and determine which is better suited to provide you an good experience and knowledgeable about the market you are in.

If asking an agent if they work part time, they should answer truthfully. Being part time can make a different, though just because someone is part time in the business doesnt mean a lot. They could be retiring from real estate or a variety of other situations. I would look at each agent independently to see if they are knowledgeable about the market and can serve you well. Being full time in real estate can mean in some cases that they are better equipped to help though best to talk with a couple agents to find the best for you.

I have found that different areas refer to Brokers differently. In my area we have Brokers and Broker sales persons. A broker is an agent who has also passed their broker license exam. Some Brokers are owners of the company, some are managers of the company, some are the same as an agent with additional qualifications that passed the exam.

Staging can certainly help. Best to find a great agent in your market and ask them to view your home and assess. In some cases minimal staging is needed, in others you may be able to arrange your own furniture appropriately and other times its recommended to have fully staged. Depending on the current market conditions and price point can factor in as well on if the extra cost will be justified.

You can sign many documents electronically, though some will need to be signed in person or with a mobile notary. Mobile notaries are available in most decent size cities. They will need to validate that the correct person is signing that actually has authority to sign.

You will certainly want to do inspections and several types depending on what is recommended in your area and type of equipment. Your agent should be able to recommend appropriate inspections to be done. Read and understand the by laws, association budget, if they manage it well or not and if any law suites current pending on the association. Sometimes its a good idea to talk with people with in the community to see what others think about the association and how its ran.

The more open houses the better. The more available the home is to potential buyers the better. It can be a bit of a pain to leave and have the house presentable for the open houses and that will have to be something that you will have to decide if its worth it. If you are very motivated as a seller then more open houses certainly cant hurt.

Great question, it will depend on what is causing the smell. Many times the old house smell is either some old flooring, paint, pet odors, or moisture. I would recommend talking with a great realtor in your market that can give you some specific recommendations. Sometimes replacing the flooring and painting can help. Other times there is something else going on that is causing the smell.

Most of the time ceiling fans are completely fine. If you are looking to replace items like this to add value and allow the home to sell for maximum value you may want to have a great local agent view the home to see what is recommended. In general, its rare that I recommend replacing anything like ceiling fans unless its broken/damaged. You never know what is going to be important to the right buyer for your home, though if things are broken/damaged then any buyer is going to want to see to it that they are fixed or offer less then would have if fixed.

Every area is different in what you will pay for taxes when selling. Generally you will have a transfer tax that will apply specific to your area, city, county, state.

San Francisco is so expensive because of supply and demand. There are only so many homes available in San Francisco and lots of people want to live there which causes values to go up accordingly.

Some resources to find out more about the property are the county assessors, county recorders, google search, a title company can pull a property profile or do a title search, talking with a great local agent that is familiar with the neighborhood and talking with neighbors is a great resource.

No contingency usually means that a home is being sold and not wanting to have the purchase contingent on the buyer selling their home. Though there are technically several contingencies in a transaction, so this could mean a variety of things. Inspections is a contingency, appraisals are usually a contingency, loans can be a contingency. Though usually its referred to a buyer selling their home.

Its really going to depend on your lifestyle. Condos have association fees that will often account for exterior maintenance, landscape, roofs and some utilities so depending on the community you wont have to worry about those items, though they will often have more rules on what kind of pets you can have and where you have to park your car. Single family will often have more freedom on these things depending on the community though you will likely be required to handle your own maintenance.

It is very normal to do most everything through email. Many great lenders will pick up the phone and make a personal connection at different stages of the process. I prefer to connect with someone over the phone to address questions and have some personal interaction. If you feel the same, you should hopefully have a phone number to connect with someone.

It depends on the overall picture of your landscape. Its a good idea to have a great agent look at your property specifically to advise. Though in general if you can clean up the yard for minimal amount of money is preferred. Replacing landscape or putting in new landscape can be costly and you never know what the buyer is going to want. Often it will make more sense to price the home accordingly rather than put landscape in. Though each case is going to be unique depending on your market.

In some states it does. I believe in Florida it may. In my state you must have at least a temporary closet space to be considered a bedroom.

Reno Nevada is the best place on earth if you ask me. Other that Reno, some good options are Tampa Florida, Sedona Arizona, and Las Vegas Nevada. Some things to consider when retiring is affordability, taxes, weather, activities available and access to good healthcare.

Commission is completely negotiable. When listing your home with an agent you will want to discuss this with. If you so decide to not offer out a commission to a buyers agent there are some concerns with. If a buyers agent shows your home and there is no commission offered, then they will ask the buyer to pay for the commission. If the buyer doesnt have it, they cant make an offer on the home. If they do have it and other sellers are offering to pay the buyers agent then the buyer interested in your home will often offer less for the home to compensate for this charge that they will have to pay. As a sell you dont have to pay for anything or accept any offers you dont want to, though just consider why they may be in place as a benefit for both buyer and seller.

Each MLS can have a different policy, though my MLS system requires 30 days off market to refresh as a new listing with the same company. If going with a different company it can be relisted with no wait period at all and refresh as a new listing. In most cases there is really no benefit to waiting unless looking to refresh the listing to "New".

Setting up showings to give ample notice can certainly help. Depending on your specific market and price point, location and expected activity sometimes you can schedule showings for certain days and times, though the more accessible the home is for showing the better. Again depending on your specific market usually pricing it more attractively can allow you to get all showing quickly and under contract quicker and eliminate this painful process and in many cases get multiple offers and get more money for the home.

Debt to income is calculated on how much you make monthly or annually and what your current debt payments look like. For instance, if you make $1,000 a month and your car payment, school loans and credit card payments is $500 all together then your debt to income is at 50%. The lower your debt is the better.

Great question. You can talk with a great agent that knows the area. Walking the neighborhood a few different times can help to get a good feel. Get familiar with the closest shopping center, schools, parks or other amenities. Definity best to talk with some people that have lived their and ask about the people, what they like about the area, if they have had any concerns, ask about the HOA if there is one and if they might have done anything different if just moving into the neighborhood. Everyone is going to have a different perspective so talking with a few people can help.

Every market is going to be different. For the most part in my market I have seen that if you put about $50,000 into your kitchen you will get about $50,000 more for your home. In most cases, I havent seen where it makes sense to upgrade items unless they are in bad shape and damaged. If the kitchen is outdated, you will usually get less for the home. If the kitchen is updated you will usually get more for the home. In many cases its the same amount you put into upgrades.

High appreciation areas like Farmington New Mexico, Sarasota Florida, and Naples Florida are some hot flip areas. Any high appreciation areas have great upside though big risk if the market turns.

You will want to find a business broker licensed to do so. Often you can get a great referral from any commercial broker in your area.

The average home in that area is going for about $935,000. Depending on what you like and what your looking for it could be a bit less and a bit more. If you need connected to a great agent in that area, happy to connect you to one that can help you find what specifically your looking for.

Wholesaling is when you obtain a contract on a property with a seller to purchase, then you find another buyer that is willing to pay more for the property and profit from the difference the contract you have with the seller and new buyer. Most of the time there is no agent, though sometimes licensed agents will wholesale. In those case, usually just the one agent.

Every country is going to have different laws in regards to real estate. Agents that are licensed in the US will not be able to help you in other countries. Hope this helps.

If you invest the $200 into something that has higher returns than your mortgage rate than it will be a good investment. I personally would pay off my mortgage to allow myself to eventually be debt free.

In some cases solar panels can increase a homes value depending on the specific market. I have seen in my market where similar homes have sold for the same amount where one home had solar and another didnt. It can largely depend on the energy cost in the area and how much sun light is available.

You can certainly get a fair price. To get a lot will depend on what you consider to be a lot. Often when pricing a home competitively you can get full price and in many cases over asking. To find out specifics on your home you will want to ask a great local agent.

Many experts are saying that there is a housing shortage, which means that the inventory is low compared to the population demands. As inventory is low and demand is up then usually prices follow the demand.

There are becoming more and more vacation rentals, though the demand for vacation rentals seems to continue to be high. The rent does fluctuate with the market and seasonal attraction to the area.

It is fairly common. Wire fraud is the most common.

Its not a bad idea to replace the locks when purchasing a home to ensure you are the only one with access. Some home warranties will provide new locks on a new purchase.

It can be a good idea to have a roof inspection or assessment. Some companies do this at no charge. If you get 3 contractors out there to assess and give you an evaluation of the roof condition and life remaining then you can disclose appropriately. If buyers have any concern then you can show what the contractors had said. If they recommend replacing then at least you will know what the professional say and can find the best quote. Having a new roof can certainly make the home more appealing and attract more buyer interest.

203k loan can be a good option. Also connect with Feeasy that can do loans like this.

You will need to apply through the Housing Authority. Its based on income, elderly status, disability status, citizenship status and other factors. They look at many factors to determine if you qualify.

The garage is perfect. Most people understand that the garage is used for storing things, especially when working on moving.

There are many factors that affect the appraisal, condition, location, size, upgrades, lot size and age. Best things to prepare for an appraisal are to have a list of upgrades, inspect inside and out and make any repairs needed, clean up and declutter and improve curb appeal best and as practical as possible.

If you mean out of pocket as upfront cost needed, than usually little to no upfront cost is needed when selling a home. Most fees and costs can be covered through closing costs and come out of the proceeds. You may want a little money for repairs and HOA resale packages.

Home inspectors are meant to give you a general overview of the condition. They are not typically a specialist in any particular area of your home, like hvac, or plumbing, foundation or roofs. They dont open up walls or fix things just observe and report what they see. They will usually look at anything you ask them to on a property and at minimum give you a recommendation on who specializes in that area.

Clean, make any needed repairs, and price it perfectly to attract the maximum interest.

You can certainly sell a mobile in rough condition. Depending on if the home personal property or real property will factor in to the value and what type of licensee can assist you in selling it.

I can see why an agent would ask of you to sign a buyer broker agreement, though not insist on it. Talking with a couple agents to see what your options are can be a good idea. You will want to agree on a price before signing anything.

You say "attached," are the bathrooms directly accessible to the bedroom or do you have to go into a hall way first to access another door? If you have a bedroom that has direct access to its own bathroom then you should be able to list it as a master suite.

Yes, commission is 100% negotiable.

The actual appraisal inspection can take as little as 1 minute and as long as an hour depending on the particular appraiser and the extent of the property they are appraising. Most take about 15 minutes in my experience.

Have a great agent price it correctly to market value and allow maximum exposure to buyers looking for fixers and it can usually sell quickly.

Its a good idea to call your assessors office and express your concern and see what they can do. It often can be determined by talking to one of the county appraisers if there was a mistake. If there was no mistake then the likelihood of them reducing your tax assessment is very minimal.

Its a good idea to contact your assessors office and talk with a county appraiser. They can tell you if there was a mistake made. If there was no mistakes made then getting them to reduce your taxes is unlikely.

Delaware statutory Trusts (DST) can be a great option. When you search the web, you can find several through out the nation. Returns will vary depending on location.

Flippers are looking at the bottom line profit and often spending extra money to replace roofs, electrical, plumbing or fixing structural issues are not top of mind. Look at these items primarily. Flipping a home often is focusing on making it look esthetically nice.

Landscape certainly adds value. If you have minimal landscape you should be fine. Best bet is to have a local agent assess and advise. Generally speaking, I most often suggest that my clients do as little as possible, and not attempt to put in landscaping that the buyer may not prefer. Some landscaping usually helps to sell.

Talk with a few lenders and find the best rate (APR). Usually the better your credit is the better your rate, though they just made a new law that changes things some in that regard. The more you put down the better. And in some cases finding an adjustable rate mortgage can save, though be causes with these loans.

It can depend on if the market is climbing in your area or dropping. Most of the time it is not preferred to remodel and pay the expense to do things that your not sure if the next buyer will prefer. If the home is severally outdated or in disrepair than that could be a different situation. It can be a good idea to get a local agent out to assess and give you recommendations.

Everything is negotiable in a real estate transaction. Anything attached to the home is expected to stay. Some appliances like refrigerators, washer and Dryers are at your discretion.

Its always best to have a bit of a cushion in case an unexpected issue comes up. The more down the better. If you can put enough down to do a 15 year loan is a huge savings over the span of the loan.

Its going to depend on the style of home you have and what upgrades you may have. If nothing has been upgraded, then adding new fixtures often is not going to be a benefit. If upgrades have been made then new fixtures can help. Best to have a local agent come by and assess and give advise specific to your home and market.

Every neighborhood can vary in market conditions depending on location, price point, schools, amenities and much more. Most markets I understand have low inventory which makes it better for seller, though interest rates climbing causing buyers to afford less makes for an interesting market. Most areas have less sells then previous months but still quite active.

Best to talk with an attorney, I cant give you legal advise. In the past, I had a client in similar situation and it was understood that the unmarried partner had no right to any proceeds. Ethically it would seem appropriate to reimburse the gifted monies being $20,000. Just one opinion.

Purchasing a property in the USA does nothing for establishing residency or citizenship.

When buying from a foreign owner in the US, 10% of the purchase price must be withheld along with appropriate documentation sent to the IRS.

One way to get the value is to order an appraisal. The best way is to connect with a local agent that can assess the value, prepare a comparative market analysis and recommend a price. This will include recent sales of properties with similar features so you can determine what buyers are willing to pay for it.

Great question. It a good idea to connect with a local agent that can come over and assess your specific situation. In most cases, it will not make sense to add a room thinking it will add value. Things to consider: price point, type of community (retirement, working class, high end), market demands, left over living space, how functional the room would be if altered.

Its always a possibility that they are doing something fishy, though unlikely. I would certainly ask your agent or at least let your agent know your concerns. In the past, I have had clients feel the same way and really what I was discussing with the other agent was what is important to the other party so we have all the info on the table and can come to terms where both parties are happy. Sometimes you cant make both happy, though often you can come up with solutions that accomplish both parties goal and everyone feels good about the deal.

We usually dont count it as livable sqft. It can certainly add value and it can be noted that there is additional living space that has not been permitted, just be sure to disclose. If disclosed properly than issues will be minimized.

Some things to look for in an agent are knowledge about the market, experience in selling homes like yours and someone that can give professional advise on what will sell your home for the most or give advise on what things may need done to get your home sold with the most interest.

I would read your lease and laws in you state regarding leases, though your lease should protect you from being forced out. Leases generally transfer with the purchase of a property. You will want to ask the old or new landlord on what they plan to do in the future to see if you will be needing to find a new place once the lease runs out.

Its rare that I see rent to own opportunities. They can help you get into your own home, though usually not a great deal. Sometimes you have a larger rental payment, which some of the payment can go towards the principle, often you will pay more for the home than its worth. You will negotiate a price up front and the market value may go up or down by the time you end up purchasing. You structure a purchase up front and then ultimately lease the property still terms allow for the closing of the purchase. Not usually recommended, though in some rare cases it can make sense. Talk with an experience agent that knows how to structure for you.

It can be if you speculate that this area is going to increase in value before you are willing to sell it. If growth is headed in the direction of the land you are interested in it can be lucrative, though lots of risk and growth not happening. Otherwise from my experience I dont see much appreciation in residential land. Land that is income producing/leasable land that can be a great investment.

Most often when needing to stay in home after closing this is negotiated up front when accepting an offer preferably, though it can be done after with some negotiations. When an offer comes in you can let them know what is needed for time you would like to stay and depending on the buyers situation can sometimes rent back for a while or in competitive situations get a no charge rent back after closing.

I am not so sure there is a USDA home. There are homes that qualify for a USDA loans that are located in more rural areas. There is a USDA loan map that will allow you to see if your home would qualify. Also, the home will have to qualify for safety standards. The buyer will need to qualify for income level, credit score, debt to income standards and citizenship. I dont know of realtors that specialize in these, though you should find someone that is familiar enough to standards that need to be met.

It would depend on the size of the kitchen. If the kitchen is smaller than recommended to have nothing on the kitchen counters. If its a large kitchen, you can get away with minimal decorations. If the coffee maker looks really nice, then that is fine. The whole concept of decluttering is to allow the space to appear larger when less items are present.

Those are great questions to start with. What is covered? Length of agreement? When something breaks what is the process and fee for someone to come out? What is the cost of the home warranty?

Different markets allow for different circumstances. We just came out of a market that allowed many to upgrade their homes, get into another home with a very low interest rate and allowed many buyers to qualify for a loan. With interest rates climbing to current levels allows for less buyers to be able to afford, less incentive for people to upgrade their homes and less incentive to move even if they want to downsize because in many cases their payments will be the same or more then staying put.

Many agreements will state that the entire property is to be vacated in reasonably clean condition. This should have likely been addressed at the final walk through. It can be agreed on to leave things behind as long as both parties agree. At the end of the day, sounds like the buyer doesnt want the items and it would generally make sense to have someone come pick up the items and ensure its reasonably clean or come up with a solution to compensate for someone else to address.

Find an agent, determine best price to list home for, show the home to potential buyers and then accept an offer.

Usually home inspectors do not do these tests. Generally you will need to find someone that does specifically lead based paint testing only. Many homes built prior to 1977 have lead based paint for they have made restrictions on using after 1977. So if concerned with lead based paint then you may want to look at homes newer then that.

The agents that I know that hold the most successful Open Houses dont bake cookies or have candles. Its all a distraction. Their are a variety of people that go to open houses to include, neighbors to see what other homes look like the area, agents, some unqualified buyers and some legit buyers. The whole idea is to communicate effectively with any prospects to solidify interest level and if they are someone that is able to purchase a home. Focus purely on asking good questions and engaging with people.

This is very common and not an issue. Simply just post a sign near or on the door that says "please remove your shoes or wear shoe covers." You will want to provide shoe covers.

First be sure to have all guns, jewelry, medication, and other valuables locked up safe. If the home is vacant and if your a guy then less risk, though if your a female and property is owner occupied then its a good idea to have a partner for safety and for an extra set of eyes.

You will certainly want to connect with a local agent for home values in the area.

You will want to get some quotes on having the work done or assess the cost to add, then you will want to connect with a local agent to see how much value a sun room adds in value to homes in the neighborhood. Anything you do including a sun room can add value to a home though doesnt necessarily mean its a good idea and that you will get a return on your investment. In most cases like this I see the value added being dollar for dollar meaning that there is no benefit to adding things like this to a home thinking that it will be a good return on your investment.

If I was wanting to cancel, the first thing I would do is contact the listing agent and explain why you want to cancel. Most of the time the listing agent will release you from the agreement. If they are resistant to releasing you from the agreement contact their Broker/manager and explain.

Every listing agreements terms can vary, so you may want to start by reading that agreement. Next, it is a good idea to communicate with the listing agent to explain the change of heart. Most of the time, if reasonable people are involved and there is a reasonable reason for cancelling then there is a reasonable response and everyone walks away happy.

The way I would look at it is this. How much of a difference does it make or how much would I be saving? What is the risk of the interest rate going up substantially and what does worst case scenario look like in the future of the loan? What is the likelihood of the worst case scenario to play out? And if worst case scenario does play out, can I afford it? Also if worst case happens, am I willing to sell the home or able to refinance? For myself its mostly going to depend on my ability to make enough money if worst case scenario plays out.

If funds are available to renovate, its a good idea to get quotes on fixing the home and finding out what the time lines look like for completion. Then consider what the market could do by the time the renovation is complete. If its more important to move quickly, then discounting the property to sell in its current condition. If its important for you to get every bit of money you can out of the home then you will want to renovate if it can be done quickly and keep the pressure on them to get it done and maybe even pay a bonus to complete sooner, because the market could change any moment and really hurt financially if it does so.

It will depend on your county. You will want to contact your county building department to ask them what this process looks like and if its currently zoned appropriately for you to do so. In my area, you would have to obtain water rights for any additional parcels of land you are creating, then have a surveyor do the work to divide and and have an attorney write up the documentation needed. This is a timely and expensive process in my area and about 99% of everyone that looks into the cost and involvement decides not to move forward.

Talk with a CPA and an experienced realtor in your market. It depends on if primary residence or investment. With investment properties you can do a 1031 exchange to defer taxes. Doing a 1031 exchange can be a great option.

Adelina, it a great question and natural for most sellers to question. Over the years the real estate industry has developed to include the total commission into the purchase price to account for a retail home sale for the reasons Jaclyn mentioned just prior to this posting. Many homeowners are not familiar with how this came to be and want to try wholesaling their home for a retail price. When selling a home with minimal exposure to buyers, without experienced representation and without expertise on the specific market the home is being sold in, the home generally sells for significantly less. The last extensive study I reviewed recently had a difference between wholesale price and full retail value being 17% on average more money for sellers that sell with a realtor and pay a full commission that accounts for both agents. In reality you are paying out 1 commission and the listing broker offers out a portion to buyers as an incentive to bring any and all buyers that may have interest in a home like yours.

In some markets it can make sense. Talk with a local agent that can advise properly. In most cases its not going to allow you to get more money that will pay for the remodel. For instance, if you put $100,000 into the kitchen, often you will not get $100,000 more for the home. You may get $50,000 more for it, so you lost $50,000 by doing so. If the kitchen is in disrepair then often it will be worth repairing or upgrading anything that is in disrepair.

I would certainly recommend that you get some clarity from the specific listing agent or seller so you know exactly what they mean by this, though it sounds like they are selling under construction and will be finishing construction prior to closing or asking the offeror to include this language in the offer.

Length of time it takes to sell a home is not usually a factor. It is best to read the contract you have agreed to so you have a thorough understanding.

Yes, schools are important to many. Its a good thing to consider when purchasing and for resale value.

Some potential ideas are to slim down contingency time frames, waive appraisal contingencies (still get an appraisal, just waive the contingency), waive inspection contingencies (not recommended, but an option), quick close, offer significantly more money, strengthen your earnest money deposit, make earnest money none refundable, write a love letter, offer a free rent back to seller and many other ways, but be sure to have a good agent and lender.

Getting a loan on a condo versus a single family home can be different in regards to specific info the lender will need on the property or the association. The mortgage itself is generally similar. Though some condo communities do not qualify for specific types of loans like FHA, VA, USDA.