I have compiled a list of my most frequently asked questions through out the years. They are in no particular order in hopes that you will read all of them and perhaps, answer a question you did not even know you had.
1. Do real estate professionals really sell more homes? The truth of the matter is they do. Agents overwhelming sell more homes than For Sale By Owners. This could be attributed to the fact that most people list their homes with out trying to sell on their own. People lead very busy lives and simply don’t have the time to devote to another project--especially one as demanding as selling their own home.
2. How come my neighbor listed with an agent and his home didn’t sell? There is no guarantee that an agent will sell your home. They offer their expertise and services, but they can not promise to find a buyer. Other factors include pricing, market trends, competition and the condition of the property. In spite of those obstacles it is possible that your neighbor hired an agent that simply put up a sign and waited around for a buyer to come along. In this day and age, that won’t get the job done.
3. My carpets are in good condition but they need to be stretched. My agent says “do it now” My carpenter says “wait until the house sells and is vacant”. What do I do? I understand both sides of this situation. Your carpenter knows that moving all of the furniture is hard and expensive. You agent knows that it will show better with the work done. I tend to agree with the agent. You might not get an offer or sale with the carpets needing work. Additionally, this could create a red flag for the buyer to look for other problems needing repair.
4.What is the difference between a lease/option and a lease/purchase? A lease/option, as I understand it, is a lease with the option to purchase the property. A lease/purchase is lease with a commitment to purchase the property within a certain time frame. A lease/purchase with part of the lease fees counted towards the purchase price could be interpreted as a Contract for Deed or an Owner Financed contract. Do the tenants get that money back if they don’t purchase the home? Was it really rent or was it a partial down payment, kind of like a savings account for the tenant? These are tricky issues and, in my opinion, only be handled by a real estate attorney specializing in this area.
