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Michael Hudson

Answers by Michael Hudson

11 answers · 55 pts

Price in our neighborhood?

Asked by Regina Foshee | Mt Ida, AR | 03-15-2023

Michael Hudson
Michael Hudson03-15-2023 (3 years ago)

It would be best to locate a realtor local to your house, so they can perform a "CMA" for you. A CMA is a comparative market analysis and will give you a relatively decent idea of what your house is worth.

How can I tell how old my house is?

Asked by Benn Kenickerlikk | Butė, MT | 03-14-2023

Michael Hudson
Michael Hudson03-15-2023 (3 years ago)

Your local County should have the appropriate records in relation to your property.

Is it feasible to find rental home 2 wks before movein date?

Asked by Andrew Thomson | Murfreesboro, TN | 03-10-2023

Michael Hudson
Michael Hudson03-15-2023 (3 years ago)

That is definitely a tight timeframe. NOT an impossible timeframe, just going to be difficult. I would suggest finding a rental for 2 months in or around Murfreesboro. This should allow you to comfortably browse houses, pick a home and go through the sales process. Might not be exactly what you wanted to hear, but I am sure it was already on your mind.

After I accepted an offer, can I accept a different offer?

Asked by Ryann | Palm Beach, FL | 03-10-2023

Michael Hudson
Michael Hudson03-15-2023 (3 years ago)

Depending on your state and that states Real Estate commission rules. I would check the state guidelines or consult an attorney for the best answer,

Who pays realtor fees and commissions?

Asked by Gabriel | Tampa, FL | 03-06-2023

Michael Hudson
Michael Hudson03-15-2023 (3 years ago)

The seller generally pays the commission fees.

How are commission rates split?

Asked by Tony | St. Louis, MO | 02-27-2023

Michael Hudson
Michael Hudson03-15-2023 (3 years ago)

Usually depends on the policies utilized by both firms. Nobody actually determines the commissions received from a transaction.

How quick can I close?

Asked by Jonny F | Baskin, LA | 02-23-2023

Michael Hudson
Michael Hudson03-15-2023 (3 years ago)

Depends on your local jurisdiction (county offices) and attorneys. It takes time to do title searches and to get all the paperwork in order.

What to pay attention when reading real estate agreement?

Asked by Charlotte | Augusta, ME | 02-22-2023

Michael Hudson
Michael Hudson03-15-2023 (3 years ago)

Hopefully your agent went over it with you. That is the first thing, to help their clients understand what is in the agreement. If you are still unsure, perhaps you have an attorney friend that could help explain it to you.

What is title insurance? Should I get it?

Asked by Kamari | Fairview, NC | 02-01-2023

Michael Hudson
Michael Hudson03-15-2023 (3 years ago)

Protects buyers, sellers and lenders from any future claims (liens) against the deed of the property. I highly recommend it!

How long do you need to stay in a house before selling it?

Asked by Bernard R | Charlotte, NC | 01-09-2023

Michael Hudson
Michael Hudson03-15-2023 (3 years ago)

Excise tax is cheaper if you reside in your home for a minimum of 2 years. However, I strongly recommend consulting with your accountant for a better understanding of the potential financial risk.

Does the value of my home affect the commission that I pay?

Asked by Mark Johnson | Buffalo, NY | 12-15-2022

Michael Hudson
Michael Hudson03-15-2023 (3 years ago)

Depending on what is discussed and agreed upon in a listing agreement. Commission is generally based on a percentage, that is agreed upon between the seller and the listing agent. There is NOT an industry set rate as to what the commission is to be on a contract. To answer your question about more expensive houses, yes, the commission is normally higher.