Answers by Keith Jean Pierre

It is up to the buyer and seller to come to terms on an agreement or the deal terminates. Typically, the buyer will foot the difference, or the buyers/seller split it in some sort of percentage; ideally 50/50.

If you feel your property is priced to high, why not have a conversation with your agent about a reduction?

There is usually an escrow (security deposit) held in this case so typically the risk is no more than a traditional lease. I would even argue it is less risk as they were the previous homeowners and have a vested interest in the property.

March to July is the hot market with August being the carry over month.

A seller can always back out, the issue is at what stage. Late stage termination can have them remain liable for damages if a lawsuit were to take place.

Yes, typically a mortgage company will want to see a payment plan. More people owe taxes than you think, this is another standard monthly payment situation that would appear like a credit card payment or car payment in your Debt to Income ratio calculation.

Yes, the payments will be counted in your Debt to Income Ratio, just like a car payment or credit card payment would.

All depends on your comfort level of course, but a minimum of $100,000 should be possible with no other outstanding debt. Keep in mind property taxes and HOA fees (if applicable) will also be factored in. I would suggest speaking to a mortgage professional for a better idea of where you stand.

Typically bad credit which usually comes from payment defaults and insufficient income.

Depends on your situation but if you plan to remain somewhere long term, purchasing tends to be the better play over the long term

More than one home inspection is not typical. Just hire a qualified thorough home inspector and you should be fine.

Living in the house while renting out rooms or the other apartment / side / duplex (in multi-family homes).

Typically, you obtain proper estimates from licensed contractors and then make the determination from there.

In most instances, there is no significant difference between the two.

https://msc.fema.gov/portal/search

Unless you are well versed in the process, I would not recommend doing this as photos these days can misrepresent properties. We have buyers and sellers we deal with all over the world and this is not abnormal to us, but we have seen several occasions where the buyer will thinks rooms were larger or smaller than represented, etc.

If you are not handy and want to purchase a fixer upper, I hope you have a bunch of good contractors lined up to assist with the tasks. It can get overwhelming and VERY expensive very quickly.

I would suggest and iron-clad agreement for it this goes south with contingency plans in place. Typically, this will require one of you buying out the other if this goes south.

Decent deal but no long-term benefit.

99% of the time this is not possible unfortunately.

You can but keep in mind there are tax liabilities to do so.

Post closing.

You do not have to pay the buy-side commission any longer but if you do not have a buy-side offering, you are going to have significantly less traction in terms of offers on your property as most buyers are not looking to pay the compensation to their agent.

This is a case by case basis, but yes there are several companies out there doing these types of mailings.

In your case not doing the repairs to those items will prevent an FHA buyer from purchasing and possibly a conventional buyer as well depending on their mortgage company and appraisal.

To be honest, it depends on what works best for you. I always tell our clients cash is king and removes a lot of the traditional risk, but cash offers tend to be on the lower scale as they know what they have is rare. If you can get a cash offer that is market value, that is my go to.

Our team typically does a pre-list home inspection as part of our listing package as we like to know what to expect. I personally think this is a great idea.

AI staging has gotten better but traditional staging is still far superior as you can tell quite often that AI staging was done and in many instances it can look subpar.

Speaking to a lending professional would be a good step in the right direction.

More information would be required for a valid assessment but most likely a tax recalculation if you have a fixed rate mortgage.

You could review your survey to determine who owns the tree and make a determination from there on responsibility.

Without factoring in down payment, I always tell our clients to expect 3-4% as a worst case scenario.

It depends on your comfort level and skill level. Are you handy if something goes wrong at the property or have someone that can help you remediate. Waiving a home inspection is a very dangerous move if not done properly as you can end up with thousands of dollars in unexpected repairs on day one.

Generally, I suggest paying attention to how the home works for you, and then after that if you are really interested, you want to check the utilities for leaks or cracks. Additionally, take a look at the roof, siding, and foundation to see age and present condition. You do not have to go too crazy as you are going to have a home inspection most likely, but you want to have a general idea of what you are getting into prior to making an offer. Good luck!

You can go to the township and give them the area and they will be able to tell you what is planned for the site.

Market instability leads to rising costs.

This would be heavily dependent on your comfort level. From the way it sounds, purchasing a new home might be more stressful that it is worth for you.

A complete overhaul of the property.

Typically, after closing, you are responsible unless you can prove the seller deliberately did not disclose or tried to hide from you.

This is a good start: https://www.nar.realtor/magazine/tools/client-education/handouts-for-sellers/questions-to-ask-when-choosing-a-realtor

Purchasing a property on Auction.com is not like purchasing a traditional home with traditional showings and viewing windows.

I would suggest given a call to a local professional who can shed more like on the matter for you.

Selling your home first will put you in the strongest position to purchase but it is not for everyone. What I would suggest is selling your home first and then doing a rent back while you purchase your new home.

There are market calculators online that give indications to market trends month over month. That would be a good start to see what is happening in your town and or neighborhood. Additionally, you can speak with a local real estate agent who will be able to shed more light on the situation for you. Best of luck.

Yes you can but you will inherit the problem. Highly suggest getting a few estimates to understand what the costs associated are.

Best bet, sell now before things get worse and maximize the appeal of your property with proper curb appeal and interior staging. The better the home looks, the more people will tour. The benefit you have now is that inventory is still low in many markets, making buyers purchase homes in less than desirable neighborhoods. Remember, when the expensive markets go up, the surrounding markets do as well, due to the fact the original clientele can no longer afford the increase.

I think it is time to make a change as it does not seem like your agent has your best interest at hand. A home that is updated and in good condition should not sit for a month with low showings and no feedback, regardless of being in the country. The issues you described—listing errors on the MLS, a part-time agent, and no feedback—are all signs of poor representation.

Yes homes are selling in Houston, but depending in the exact market you are in determines how much of a challenge it is. Remember that Texas was one of the boom markets during Covid so there was an overpopulation and buildup in a short period of time, leading to higher-than-normal inventory. And do not feel bad about not selling in the past. Remember, when you sell high, 95% of the time you also buy "high" when it comes to primary residences. So, when you sell now, although it might be lower than desired, your new purchase will most likely be lower than the 2022 era. Primary residences just move cash up and down; the true reward is only when you retire and move somewhere at 1/4 the cost. Until then, money just changes hands; up or down.

Mobile homes can be an affordable stepping stone, but they also come with different resale challenges than traditional homes. Mobile homes are generally harder to resell and often depreciate in value just like a car, particularly if they are located in a park on leased land rather than on land you own

As long as you have HOA approval, you are fine.