Answers by Chris Yochum

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.

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

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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

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.

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.

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.

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

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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

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.