Some Frequently Asked Questions...Answered
5. What, if anything, do I say to buyers about the neighbor noisy dog? Some states have what is called a “Neighborhood Nuisance” law, although it may be termed differently in your state. This law requires you to disclose nuisances such as noisy dogs, frequent loud parties and other neighborhood problems. I remain firm with my philosophy, if there is something that you believe would reasonably affect whether or not someone would buy your property had they known of it--disclose it. Better safe than sorry. Most lawsuits stemming from these situations are caused by lack of disclosure.
I would also discuss your situation, calmly, with the party in question. Tactfully see if a solution to the problem could be worked out. Chances are other neighbors have the same complaint. Without isolating the party in question by ganging up on them, have a few neighbors address the problem with you. Of course, I do not recommend this for potentially violent situations.
6. What if I receive two offers at the same time? Congratulations, you are one of the lucky few. It is unlikely that you received the two offers exactly at the same time. Take the first offer and diligently try to work it out. Do not try to compete between the two offers as you will probably loose both. You might carefully reject the first offer with recommendations that might be acceptable to you and an invitation to resubmit. Then do the same for the second offer. It sounds like a counter-offer, and basically is, however you are not entering into negotiations that forbid you to look at other offers in the meantime. You can accept the first acceptable offer that crosses your desk. do not raise your price or have the two dueling parties bid for your home as often times this back fires and you end up with no sale. Luck plays an important role is real estate, consider yourself lucky and proceed with caution.
7. Should I offer to pay points, closing costs? This depends on your motivation to sell and the current market trends in your area. Assistance with closing costs, points or repair allowances can assist a borderline case to be able to afford your home. I am not in favor of persons that purchase the maximum house they can afford just to keep up with the Jones’. They often have to curtail their lifestyles to be able to make the monthly payment.
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