Answers by Julianne Clark

Are you building or buying a resale? If the Villages is still has active construction -- there will be builders reps there to assist you that building process. Remember that builders agents work for the Builder first. If you are buying a resale home -- your choices are to use the agent that listed the house, who works for the Seller or find a Buyers agent, your own representative with in-depth know of the that community and they can help you navigate the inventory, market trends, contracts, negotiations and have your best interest. It is always a very good idea to have your own agent representation when buying real estate -- this is to protect you in the transaction & your home purchase. They work for you & only you.

Buyer and Seller representative have different responsibilities when it comes to real estate sales. Sellers agents tend to have more money involved in promoting a new listing with professional photography, drone, online and print advertising and other types of promotion, etc. Buyers agents tend to have much more time involved in the transaction. There is a lot of communication involved. Such as verifying with the Lender a Buyers purchase ability, setting up multiple home tours, showing the properties, providing feedback for every home viewed -- all before any contracts are written. Once the perfect home is found and a offer is written and submitted for the Buyer -- the negotiations begin. If this one is not accepted, the search continues. There is a lot of balancing and paperwork processing involved in making a home purchase (or sale) so that it remains smooth and problem free. Communication with lenders, attorneys/title company, other agents, inspectors and the Buyer and/or Seller, etc. Much of this behind the scene activities the consumer is unaware of. All agent compensation is negotiable -- although real estate brokerages are able to have a set minimum to be represented by their agents/company. Remember that not all agents are equal. Do your due diligence. Ask for recommendations from trusted friends or family. Interview before choosing. Sometimes you get what you pay for -- even in agent selection.

The real estate industry has gone through some radical changes in the last few months that stemmed from many lawsuits about commission disclosures. What has happened is that the Buyers agent compensation is no longer paid by the Seller of the property that you wish to purchase. There are still ways to ask for your agents fees to be covered (all or partly) by the Seller. If the Seller is unwilling or unable to cover your agents compensation -- you would be responsible for the remaining amount. Your agent should be able to explain this better to you and what their Brokerages fee is for a Buyers agent representation. This amount also can vary from agent to agent and Brokerage to Brokerage and state to state.

I would suggest you reach out to your local Veteran assistance programs and see if there are any housing programs available. Habitat for Humanity may be of assistance too. "Rent to own" properties are very few in this current real estate market. Popular with the real estate crash of 2008. It was a way for an owner to get someone in their property that was sitting vacant or did not qualify for a mortgage -- and collect rent while putting a little of that rent toward the principle purchase. Sometimes a large deposit was required and the "buyer" would have to outright finance in a few years. The hopes was that the "buyer" would do improvements while living there since it was going to be "theirs" and if they were unable to get traditional financing in the set time frame -- the house would be in better shape and financeable. I was never involved with or heard of a "rent to own" that ended well.

Absolutely! This type financing was very popular coming out of the housing crash of 2008. Many homes that had been foreclosed on need extensive repairs in order to qualify for a mortgage. You may need to do some lender shopping around to find the right program for you needs. Basically a set amount for the repairs is wrapped up into the final mortgage amount -- that included the purchase price of the home and the repairs. So the homes value is set at what you paid for it plus the repairs. That is the very simplified description -- there are some challenges and hurdles -- but totally possible!

We are required to have an agency agreement with all potential Buyers before touring properties. This agreement can be property specific, day specific or time frame. Check the terms of the agreement you signed or contact the agent and ask. If you are not happy with the representation you received and are under a time frame buyer agency relationship -- ask to be released. As long as you do not purchase any properties you toured when you met with the agent -- you are under no obligation to continue if its not a good fit. Most agents do not want to work with clients that do not want to work with them. Buying real estate is a relationship and all parties must be onboard the same ship for the most successful outcome.

Hi Terrance -- if your home is paid for and the is not a mortgage/financing on it -- the short answer is yes. If you have a loan on the property -- the mortgage company will find out at the expiration of your current policy and tell you to get coverage or they will get coverage for you. The coverage that the "get for you" will be more expensive than what you are currently paying. Property insurance is going up due to increase in labor cost, supply costs and country wide hurricane/flood/wildfire claims. We are all feeling your pain!

Express your concern to your agent and see if they modify their relationship with you. If not -- then contact the office Broker (their "boss" where the agent works from and explain the situation. Either they will have another more responsive agent in the office assist you through the process or put a fire under your agents chair. There could be reasons unknow to you why he has changed his behavior. Real estate sales is more service than sales -- maybe you can provide that reminder.

There are many federally supported home buying programs that you may be able to qualify for because of military service, certain employment fields (teacher, police, fireman), income levels are some examples. There are some real estate agent specialize in first time homebuyers and have many resources and business partners that can assist you throughout the process. Your chosen local real estate agent can direct you to a great lender that will help get you pre approved so that you can begin your home shopping and buying phase. Ask your friends, coworkers or family for an agent referral if you have not found one yet. (Everyone usually knows someone who has bought a home in the last few years.) Best wishes!!

Talk to your agent. You should be able to cancel your listing contract. Keep in mind -- there may be a fee to do so to cover marketing expenses and such. It all depends on what you agreed to. The real estate market is changing all over the country from where it was 2 years ago. So is the rental market -- long and short term. Make sure that you are comfortable hanging onto the property if it continues to evolve.

This question need to be directed to a mortgage Lender. There have been situations in the past that I have part of that one buyer had the income and the other buyer had the good credit and they were able to get financing. Most times they have been married couples -- direct family members may be acceptable. Ask around to friends, co-workers and do some online research for a great local lender. Another idea is sometimes credit unions have programs for members that may help you if you bank there. If neither are an option -- try a credit rebuilding program. This is not an overnight fix. Within a year or so -- you should be on your way to credit health and buying a home!

Keep in mind that their are fees associated with refinancing that are many times wrapped back up in loan amount. Talk to the Lender that you used when you purchased your home if you were happy with them -- to get a better idea of how much it will cost you to get a lower rate and make sure that you are able to do a refi. If the fees to refinance are not substantial enough -- you may need to wait until you pay your loan further or rates decrease more.

That depends on your local market and average days. Once a contract is accepted -- its usually 30-45 days until transfer of ownership. We are seeing longer times on the market and it may take 30-90 days to secure a Buyer if your home is desirable in price and features. Talk to your listing agent beforehand -- you can always have input on the contract you accept to have closing date work with your timeline. Good luck!

That is not a cut and dry answer. Your house is for sale and you find a cash buyer -- 10 days maybe. For any other situation -- 30 days or until you find a Buyer and that's financing is complete and/or they sell their home if its conditional. In my area -- the days on market are about 4 months for a properly priced home. All areas are different. If you list your home like last years market -- it may take longer to sell. As a local Realtor and base you expectations off of Louisville KY trends.

Contact a real estate attorney in the area where the property is. They will be able to guide you through the process. It sounds like it may be a little more cumbersome than you are thinking since there is and existing mortgage. In my experience -- mortgages are not just transferred without proving that you are qualified to assume the loan -- regardless if you have been making the payments for years.

The real question is what can you offer a Seller that would be something that they want? Most instances its terms and price for the house they are selling. Submitting the cleanest (least contingencies) and best price you are able to offer and also working around their selling timeline can set yours ahead of other offers. Make sure that your agent is communication with the Sellers agent "prior" to making the offer and find out what is "important" to them and cater your offer around that the best you can.

This is a popular concept now with high home and rent for young adults and seniors. Before you move forward -- make sure you take into consideration that buying a house is a long term event. Where do you plan to be in 5 years or 10 years? How about your friend? There need to be a lot of questions asked and answered and maybe some legal documents created. If one of you looses your employment, couples up, want to move or your friendship changes -- how will that be handled, etc. There are greater chances for financial setback buying than if it is just your roommate. Do your research and ask those difficult questions before proceeding!

Did you or do you have attorney representation? If not, probably in your best interest to get a consultation and find out what your rights, responsibilities and next steps are.

Absolutely -- as long as you are specific what you will be removing at the time the offer is being made/accepted. Both need to agree on the removal and if you will replace with like kind. Always best to pot up prior to listing. Saves a lot of miscommunication. Potted plants do not convey with the sale -- only the inground ones.

Is it good to max out your credit card because the money is available?? Ask yourself if you feel your employment is secure or you would be able to quickly get similar wages quickly if something unforeseen happened. Your Lender will let you borrow as much as you are "approved" for -- the questions is -- can you sleep at night comfortably with the payment. Rent is expensive and buying a home is expensive. There will be surprise expenses when owning verses renting -- make sure you have enough income or savings to be not caught off guard. Really thing about it and crunch your budget. Sometimes people have to borrow their max approval -- sometimes they do not. Can you be happy in a home with a lesser payment that is maybe not exactly what you want? Best wishes!

Hi Elizabeth -- there is a lot of information missing from this question. What is the $3000 for? You state that they will received their money at chosing. Who is they? The Buyer or the Lender? Usually money exchange is through attorneys or title companies. Need more info to fully understand your question. Julianne

Hi Valerie -- you could purchase and investment property and "rent" to your parents. If you are financially able -- that might be the simplest route. Talk to a local lender and your accountant/financial advisor. Julianne

Yes they can. The question is why would they want too? Buyer representation protects the Buyer. The Seller is looking out for themselves -- not the Buyer. With a Buyers Agent -- they will not just help with paperwork -- they will guide and give you the benefit of their experience and knowledge of circumstances and situations that may affect the purchase. There are many things everyday that you can do yourself -- and yet still hire a professional. You can Youtube car repairs and still take your car to the garage. Why would it be worth chancing a home purchase?

Timing the market is impossible. If the interest rates drop due to the upcoming election over the summer -- more Buyers may decide to purchase -- the same ones that have held off due to higher rates. A new president and administration could create hesitation for may home Buyers and Sellers. Do your research and make a decision based on what is best for your family at the time.

You can save money (sometimes) with a bank foreclosure. It can be a risky purchase also. Make sure you do adequate research prior to spending your hard earned cash on the pros and cons of buying a foreclosed property. You may save $$ or end up with someone big issues.

Now that it is actual living space -- you may wish to cover the space in case of claim/damage in the future. Yes, your premium may increase. The other thing to think about is taxes -- many times it will not be taxed or taxed as equal to above ground living space if not permitted. If you finished this are for a family member with a disability -- there could be credits involved. You have definitely increased the value of your property!

New construction housing is not the same as vehicles. Real estate appreciates in value over time -- the majority of vehicles do not. There are hick-up at times and value drops -- buy year over year -- real estate always appreciate if maintained. There are benefits to purchasing a new home because all the mechanicals are brand new and under warranty as well as the construction. When buying a used car and home -- you do not have the security that the car/home is warrantied to be problem free for a limited time. Buying new is a great choice for someone who is unable or uninterested in being responsible for home repairs for a few years or feels more secure knowing the history of the home from the get-go.

There is a lot of information needed to answer this accurately. I imagine going into the listing contract -- neither party expected the end results to be this situation. Something must have changed the relationship. There are many occasions that agents can require for compensation -- especially if they brought a ready willing buyer and have invested time and money marketing your property. I have to agree with Jessie -- make an appointment with the Broker of the company and discuss the situation. Good luck!

Yes -- You can sell just the building if you can find someone willing to move it. That is if it is salvageable and worth the expense in moving. Try advertising it and see if there is any interest. There is always Facebook marketplace or Nextdoor has a for sale option. Good luck!

Unless you have the legal authority to act in the behalf of your father -- the short answer is no. Is your Father deceased? Have you inherited the property? You may want to consult and attorney to get legal advice on how to proceed.

It is not clear with your questions if you are looking to sell your current home or use the equity in the home to buy another. Either way is possible. If you want to sell your current home and buy another property with the proceeds -- make sure you communicate that with your real estate agent when you list the home. The sale of your property will be contingent on the purchase of the other. It is done all the time! If you are looking to use the equity from your current home -- keep that property and buy another -- that too is done frequently. Make an appointment with your bank to discuss the options they offer. Best wishes!!

That is a question to check with your states guidelines for residency. There has to be some proof that you live in the state at your rental address. Other bill history like cell phone, car insurance, work pay stubs?... Have you gotten a Florida drivers license or id? Check with your local government or start online to see what is required in your state.

Yes they can. In South Carolina you need to live in the state for consecutive 12 months. GA state may be similar -- check online or contact your local government.

Yes -- You can even buy homes in foreign countries if you wanted too. Are you going to live in the home as a primary residence, is it going to be an investment (rental) or second home -- and are you active duty military? If it is a second home and you spend the majority of the year in Washington and claim that to be "home" -- it should not change your current state residency. Contact your local government and ask the questions. It is best to be informed by the people to enforce the laws in your State!

There are times when issues are disclosed prior to you making your offer that can not be asked for even during the due diligence / home inspection period. For example -- "Any damage caused or created by the Sellers "pets" will not be repaired or replace." When something is prior disclosed -- it is accepted as a known defect and if not readdressed when offer is submitted and agreed upon. This is only an example and pet urine really is a whole different aspect. Many times pet owners can not smell their pets...

Depending on your state -- Sellers do not have to let agents or Buyers know if there are cameras inside or outside of the home. One of the first counseling items we tell Buyer clients is hold off chatting about the house until we are back in the car -- especially if they really like it. If the home Seller know the potential Buyer is very enthusiastic about the home -- it could affect their negotiation. Keep a poker face!

There are times that you can change jobs while looking to buy a house -- as the other have said. Talk to a lender and find out what the guidelines are for you particular situation. Some lenders have financing programs in house that bypass federally loan guidelines. Make that call!

It is actually a good idea to update season photos or as needed -- especially if your property has been on the market for a little while. Real estate agents many times pay for professional photography (which can be expensive) and may not want to pay to have a full photography package done again just because the Christmas tree is down. I usually try to not take photos of listings with holiday decor in them (easter, halloween, summer patriotic, thanksgiving & christmas). Swapping out a few of the exterior seasonal (with or without leaves) and updated the main advertised image is a good way to get a refresh on your listing.

This $$ not a cut and dry amount or percentage. Best answer is -- it depends. Sellers like cash offers because closings can be quicker, purchase contingencies can be waived and it appears that the Buyer has a better chance to get to the closing table without lending obstacles. In the past most recent market -- cash was the preferred way to go with multiple offer situations. A strong qualified Buyer that is financing, willing to pay around listed price and reasonable purchase contingencies may be prefered to a cash Buyer who wants to lowball the price. Talk to your agent to determine the best strategy for your particular buying situation.

If your side is deeded separately than the other side -- then you should be able to sell your 1/2. Maybe contact the real estate agent that originally sold the unit to verify. I would strongly suggest letting your attached neighbor know you plan on selling -- maybe they would be interested in buying the other side for an income property or for a friend/family member.

The main reason (in my area) is because home sales have slowed in comparison to the past few years. Price reductions and agent/buyer incentives are now part of the marketing. Sellers have reasons to move or sell (building a new house, moving to another area, relocation closer to family, divorce, death, etc) and in order to expedite a purchase contract (average days on market is in the months now) -- concessions/incentives are the first step towards enticing a Buyer to make an offer on their home.

It is best to speak with a local real estate professional about your areas tax structure. Many times there is what is call point of sale reassessment. Basically what that means is your taxes are based on the homes purchase price. So even if the current owners are paying low taxes since they owned the home for a very long time -- you will be paying market value base on the purchase price and not benefit the same low taxes. This property tax change can be delayed by a tax year -- so the first year is lower -- following year is based on purchased price.

Do some internet research and determine if the risk is worth the purchase savings. There have been many studies in the past with documented results. If you decide that it is work the health risks -- keep in mind that at some point you will need to sell the property and then next owner will also have to be OK with the properties location and power lines -- this could potentially narrow the amount of willing buyers for your sale.

Owner financing was popular after the real estate correction in 2008. It is used mainly when a house will not qualify for traditional financing or the Buyer is not able to get traditional financing. (Traditional financing meaning thru a bank) The basic understanding is that the owner collect "rent" for the property from you and a percentage of that will be applied to the purchase price. After several years, when either the condition of the home has improved (your sweat equity while living there) or the you can now qualify for traditional financing. Rarely is it a long-term event -- 3 years +/-. There are instances where the owner does act as the Lender and will do a long term loan. In this current market -- at least in my area -- owner finance is a think of the past or until houses stop selling and the owners decided that anyone living there is better than sitting empty without any income.

There are speciality financing loans for this type of build. The price of the land and the construction costs are added together to become one loan. Not all banks offer land/home loans. You may need to shop around. If you are looking to build in a community that is currently actively growing with a onsite builder -- they will usually assume the lot/house cost until closing. Then your financing will be a mortgage -- just like a exhibiting home would be.

Yes you do. The home is yours responsibility until the closing is completed! Which really means you need to maintain the property inside & out and keep home owners insurance on it until closing day. If the house is now vacant -- you should talk to your insurance provider to make sure you have the proper coverage. The Buyers can hold off on closing if the lawn is overgrown and unkept. There are plenty of landscapers that will do a once only visit and move/edge/blow your yard prior to your Buyers final walkthrough.

Most people forget about that when listing a house. If you want to keep Grannies chandelier -- best to remove it prior to listing the home or make sure that it is stated in the contract that the light will be replaced prior to closing. By doing the later -- the Buyer may want an opinion on what you replace it with. If you are already under contract and remembered you wanted to take the light -- ask you agent to contact the Buyers agent and make the request. Be prepared -- now its a negotiation.

Heated/cooled space is usually included in your total sq. footage. Although a screened porch is added "living space" it is not calculated as such. An increase in your sq. footage could result in increased property taxes for you (or for the new owner if your property is being sold).

Day on market means how many days the home has been listed for sale. Cumulative days on market is how many days its been on market and not sold. For example -- if the Seller lists with one agent/brokerage and then changes to another agent/brokerage without selling. The time from the first exposure to the open market is where the count starts.

Yes you can. You may get mixed responses. If you have a real estate professional -- they can assist you in canvassing the neighborhood you are interested in living in. As long as you are not in a hurry -- this route is viable. Someone may take you up on your offer to buy their property -- try to remember that you may not have a lot of negotiation leverage since you what what they have without putting it on the open market!

The best time to do that is prior to accepting the Buyers offer and making it a contingent to the sale. If this is a new development -- needing extra time -- talk to your agent. The Buyers may be agreeable to allowing you to remain in the home a little longer at a cost (daily rental rate). There could be challenges. The Buyers may have a timeline that they need to stick too. When I representing a Seller -- I discourage rent back in most cases. Hear me out. Once the house is closed on -- it belongs to the new owners. Any damage (intentional or accidental) is the Buyers and the Buyers insurance companies liability. A final walk through will not show to the new owners the condition the home will left in at their possession, ow much stuff is left behind, any hidden damage or mover damage. There is a lot of trust involved -- most of it is the Buyers. Then there is the financing part -- there may be some lending programs that would not allow this. First call is to talk to your agent and see what can be worked out.