Answers by Becky Groe

Yes—you can absolutely sell your home as-is, even if you still have a mortgage on it. That’s actually a fairly common situation, especially when major repairs like roofing or foundation work are involved. Here’s how it typically works: 1. Your mortgage gets paid at closing When the home sells, the proceeds first go toward paying off your remaining loan balance. Whatever is left (if any) goes to you. 2. “As-is” just means you’re not making repairs You’re letting buyers know upfront that: • You won’t be fixing issues before closing • The price reflects the condition of the home The important part to understand: The condition of the home can affect who is able to buy it. For example: • Some buyers using FHA or VA loans may have stricter property condition requirements • Homes needing major repairs often attract: Cash buyers Investors Conventional loan buyers willing to take on repairs You still have options: Depending on your goals, you could: • Price the home competitively and sell as-is • Get a few estimates to understand repair costs (helps with pricing strategy) • Offer credits instead of doing repairs (in some cases) One thing to check: Make sure the expected sale price will cover: • Your mortgage balance • Closing costs If not, that becomes a different situation (like a short sale), which can still be handled—but requires a different approach. Bottom line: You don’t need to fix everything to sell your home. Many homes sell successfully as-is—it just comes down to pricing, buyer type, and strategy. — Becky Groe Coldwell Banker Realty

This is a very understandable concern, and you’re not alone—global events can make a lot of homeowners pause and reconsider timing. The reality is that while international conflicts can influence the economy, the housing market is usually affected indirectly, not immediately or dramatically. Here’s how situations like this can impact real estate: 1. Interest rates may shift Global uncertainty can sometimes lead to: • Lower interest rates (as investors move toward safer assets) • Or rate volatility depending on economic response This can either help or slow buyer activity depending on timing. 2. Buyer confidence can fluctuate Some buyers may pause decisions temporarily, while others continue moving forward based on personal timelines (job changes, family needs, etc.). 3. Local market factors still matter most In most cases, what drives your home’s sale is: • Local inventory levels • Buyer demand in your specific area • Pricing and presentation These tend to have a more direct impact than global headlines. What I usually tell sellers: Trying to time the market based on world events can be difficult, because markets adjust quickly and not always in predictable ways. Instead, it often helps to focus on: • Your personal timeline • Your financial goals • What your local market is doing right now If you were already planning to sell and buy, it may be more productive to look at current market conditions in your area rather than waiting on uncertain global developments. Bottom line: Global events can influence the market, but most real estate decisions are still driven by local conditions and personal timing. — Becky Groe Coldwell Banker Realty

You may actually have a strong opportunity here because builder lots and fixer-upper properties often attract investors, builders, and buyers specifically looking for value-add projects. The important part is making sure each property is marketed to the right audience and priced correctly based on its potential. For the land, buyers will usually want to know: • Zoning and permitted use • Lot size and dimensions • Utility access • Development potential For the fixer-upper, buyers typically focus on: • Structural condition • Renovation scope • After-repair value (ARV) • Investment potential Depending on the condition and location, you may be able to: • Sell them separately for maximum exposure • Market directly to investors/builders • Sell as-is if you don’t want to make repairs Since your goal is to sell quickly, having a strategy focused on investor and builder traffic could help generate more interest. A few helpful details would be: • Approximate lot size of the land • Whether utilities are available • Condition of the fixer-upper • Whether either property is currently occupied Properties like these definitely can sell—it just comes down to targeting the right buyers and positioning them correctly in the market. — Becky Groe Coldwell Banker Realty

Yes — you’ll definitely want to keep insurance on the property while it’s vacant, but there’s an important detail many homeowners don’t realize. Most standard homeowner’s insurance policies have limitations if a home is vacant for a certain period (often around 30–60 days). After that point, coverage for things like water damage, vandalism, or theft may be reduced or even excluded. Because of that, it’s usually a good idea to: • Notify your insurance provider that the home will be vacant • Ask about a vacancy endorsement or vacant home policy • Make sure you understand exactly what is and isn’t covered Vacant homes are considered higher risk since issues like leaks or damage may go unnoticed longer, so insurance companies adjust coverage accordingly. Many sellers also take extra precautions such as: • Keeping utilities on (especially heat during colder months) • Having someone check on the property periodically • Maintaining basic upkeep The goal is to make sure you’re still protected during the time the home is on the market.

Buying a foreclosed home can sometimes present good opportunities, but it’s smart to understand how they differ from traditional sales. Most foreclosures are sold as-is, which means the bank typically will not make repairs. Because of that, buyers should plan for the possibility of deferred maintenance or repairs depending on how the property was cared for before the foreclosure. That said, one common concern I hear is whether buyers inherit the previous owner's debt. In most cases, the answer is no. The foreclosure process is designed to clear the previous mortgage from the title. Buyers typically receive clear ownership through the closing process. This is also why title insurance is important—it helps protect buyers from unexpected claims or title issues. Some best practices when considering a foreclosure include: • Getting a thorough home inspection • Budgeting for potential repairs • Reviewing the title report carefully • Understanding the property is usually sold without repair negotiations Foreclosures can make sense for buyers who are prepared for the process and understand the condition of the property before closing.