Answers by Chelsea Anderson

Hi Andrea - sorry you're dealing with this. If you want to sell, your sister can buy you out of your half and then both are happy. She can contact a mortgage person if she needs a loan or you two can come up with an agreeable value of the home and come to terms yourselves on how you want to split the equity. If there are other assets, maybe you can walk away with the equal amount to your half of the equity in cash or other asset if she wants to keep the house. Hopefully you can work together to come up with something that works for both of you. good luck!

Hi Pam - every investor makes their money on how they buy the property meaning the initial deal. The misconception is that investors make the money when they sell but it really comes down to how well did you plan & prep for the project and the current market conditions when making the initial offer. Budget everything in and then dont forget to add a substantial buffer to the budget when running your numbers for unexpected costs that you can't immediately see. If you're planning to flip, this is a market where you should be incredibly conservative when running your numbers. If you're planning to keep it or even move into it, there may be more wiggle room for you to do repairs slowly or band-aid something to limp along for a year or two. Good luck!

Hi Nathaniel, This varies by investor. It also depends largely on your goals for the investment. If you have a bunch of cash you are trying to deploy into investments, maybe instead of buying 1 property outright, you split that cash into 3-4 properties that can all build equity, provide tax write-offs and hopefully some cash flow too! Things we ask our first time investors: 1. What is the goal for the investment? Is this something that will feed your retirement? How many years away from today will you need your cash back? 2. Is this something you plan to hold forever or sell after 3-7 years? If you're planning to sell, what will you do with the money? 3. Do you need monthly cash flow or are you investing and banking on the property's value appreciating over time? Depending on the market, some are much stronger rents while not appreciating much and others maybe offer a bit of negative cash flow but have a history of appreciating well above standard inflation rates. Different goals. 4. Are you taking cash out of a performing investment already? What rate are you getting on that money vs. what rate will you pay on the mortgage? If you're averaging over 10% returns with your cash invested, keep as much of that cash invested and finance this purchase. If it's sitting in your backyard, get that money into something to give you a return, anything is better than nothing! 5. Lastly - what's your current financial position? If this is all the cash that you have and would leave you with no reserves, definitely finance. Save your rainy day fund for a rainy day. Hope answering those questions sheds some clarity on which path to choose! Best of luck with your first investment!

Hi Jordan - DSCR or a loan would be my choice personally instead of wiping out all your funds completely! Definitely keep your rainy day fund if something were to happen. Here are the big differences between the 2 having bought investment properties both ways... You can buy a property directly in an LLC with a DSCR which just makes accounting and liability a little cleaner. You also don't have to jump through all the financial hoops to prove your income/assets with a DSCR qualification like you would with a standard conforming (conventional) loan. Underwriting can be annoying or tough to check all their boxes if you have multiple mortgages or you own your own business. Rates can be a little different, our DSCR is pretty dang close to market rates from a few weeks ago but check with a lender who can run both scenarios for you. Once you've had the chance to look at both scenarios, you may have a clear winner with that side-by-side comparison.

Hi Faith - even with a lower priced property, selling expenses are generally fixed. It may be a product of what it costs for photographs, insurance, marketing materials, etc and then making sure he can still make some money himself too. It's worth asking the questions to have a conversation about the value he brings to the table as a listing agent. Even if he is his own brokerage, there are still fixed costs with being your own broker regardless of if he splits the fee with somebody else. Hope that helps and good luck on your sale.

Hi Mateo - everything is negotiable. You can sometimes fight your appraised value and get some of that reconsidered by the appraiser if you feel it was way off base. If they do not amend that valuation, you will have to deal directly with the buyer to negotiate that $46,000 difference. The options are either you come all the way down, the buyer comes all the way up or you meet somewhere in the middle. Be mindful of what the contract says in regards to the appraisal contingency as well. Best of luck!

Hi Dario - this can 100% be done! You and your parents can set your own price for the house as well as the terms. From what you're describing, they will be carrying the note for you - we call this a Seller Carry where the Seller acts as the mortgage holder for the new buyer. You will want to come to terms on how that is structured as well. You will likely want an attorney to help with those documents just in case something in future gets wonky. Things to decide: -Purchase price -If they are charging you interest, what that rate is. Right now, rates sit around 7% for a conventional loan so you can decide if they are going to give you a deal or if they decide to charge a higher rate for the lower price and less hassle. -You'll want to know if the loan is going to be amortized over 30 years like a traditional mortgage or if that's a different amortization schedule. You'll also want to figure out if they want to be fully cashed out at some point in the future. This would be called a balloon payment. We often see seller carry situations with a 3 year, 5 year or 10 year balloon with the payments amortized over 30 years. Make sure you have a title agency helping to draft the proper title documents and it's helpful to use the title company's servicer to handle payments for you to keep track if you pay a bit extra against your loan balance. They will also cut you the appropriate documents for taxes at the end of the year. Your parents may want to talk to an attorney or CPA as well to determine what (if any) capital gains they may be subject to and if there is a particular reason to structure the deal a certain way. Good luck!

Hi Savannah - you are not crazy! I "collect" homes too. We have played this game the last 3 houses we personally have bought. Here's why we love it... We have leveraged assets that are appreciating at the home's value and not just the cash we have invested. If you took that same money into the stock market, you'd be working with your 150K in equity to realize a gain instead of waiting on the $300k asset to grow. You can leverage a single asset by pulling the money out to buy several more and now, say you buy 2 houses about the same value, you have $900k in assets appreciating and not the $150k. If you screen your tenants well, you shouldn't have much of a problem either. Sign long term leases (12+ months) for stability and ease of managing, especially if you are moving out of town! Set proper expectations on what you would like to know about maintenance wise or if they are responsible for individual repairs up to a certain dollar amount. Keep track of expenses on the old house too as these can now become tax write offs while somebody else pays down your existing debt on your appreciating asset. Best of luck with your move and welcome to wealth building through real estate!

Hi Ezra, In Arizona, our general rule is that cosmetic items don't get much sway during your inspection. Anything else is pretty much fair game. If that ratty fan is something you want fixed, you can certainly ask. Correcting an improperly installed deck is also something that could be requested. You might have to decide what you'd prefer between asking for the cash to deal with the repairs yourself in the way you're most comfortable. The seller is likely motivated to correct the items the cheapest, fastest, easiest way possible so if you are particular about how you want the items addressed, you might want cash to take control. Best of luck!

Hi Marlowe, It depends! People are available at different times throughout the week so offering the house open to see at varying times too widens your buyer pool. By doing a mid-week open house, I would choose something in the afternoon and be conscious of school schedules too. Traffic will likely be slower but it's not a bad marketing tool. Best of luck with your sale!

Hi John, Yes - you should disclose the special assessment. When in doubt, disclose. It will protect you in the long run by being up front and honest about the current state of your condo including any HOA assessments. As far as paying the whole thing off, ask your local Realtor for advice on what to expect or how to negotiate that assessment. If your market is a strong enough seller's market, you might not need to pay the whole thing. If your market is a bit weaker, you will likely have to pay the entire thing our of your sale proceeds. Best of luck with your sale!

Hi Jocelyn, First thing to find out is what your purchase contract says in regards to a low appraisal. There should be a clause that will go into detail on the timeframe and options available to you. You may have the ability to renegotiate the price within a set time period. Your lender and your agent can work with the Listing agent and Seller to hopefully come to a mutually agreeable solution. The other option is to bridge the appraisal gap with more cash if you feel the appraisal wasn't a great opinion of the current value.

Hi Otto, There's no hard and fast way to go about it. We've had houses that have needed a 10% reduction in value for backing to a major road to sell and other times it's something like $20,000 below the homes that don't back to the busy road. It will vary on price point and current market conditions. Something to keep in mind now - if the noise bothers you while you were looking at it, it will likely bother you when you move in. It's also not going to appeal to as many buyers because of the noise and if you are concerned about the resale value, you might be better served buying another property. Things to consider.

Hi Imani, While that may feel strange, it's a way to create an urgency within the buyers looking at that home. If buyers feel like they are going to be missing out and need to move fast, they may come in with a stronger offer. If the market is strong enough to reasonably expect an offer that quickly, it could work out great for them. Every seller's goal is to have 2 or more buyers competing for their house. It gives them the power in the negotiation. More time on the market doesn't necessarily mean the offers will get better. Some of the initial buyers may not be willing to wait for the seller to explore what might happen by waiting and could be lost by the time the seller is ready to move.

Hi Talia, A buyer can move in early if the seller approves it. Generally we call this a pre-possession and there in an additional addendum to the contract to outline certain protections for both the buyer and seller in case something should go wrong. There is a bit more to it then your general hold harmless agreement. I would ask more questions! Best of luck!

Hi Nadia, We've dealt with this recently on another listing in Gilbert. If your uncle is going to be amenable to showings and getting it sold, he may be able to stay. If he's going to be difficult or if he isn't keeping the home in "show-ready" condition, it's likely in your best interest to have him move out. Our market is a beauty pageant! The easiest homes to see with the least work to do in the best shape sell fastest and without much negotiating on price. If he's not keeping the house clean or it needs a lot of maintenance, you definitely want him out so you can set yourself up for a successful sale. Let me know if we can be a resource for you! Chelsea Anderson Anderson Signature Team Keller Williams Realty Phoenix 602-748-6136 [email protected]

Unfortunately there's no quick answer... it just depends. Do you need the money? If yes, then sell it. If you don't, and can stick with your original plan of having a long-term hold, keep it. Your tenant is in essence paying the mortgage down for you while you take advantage of any tax incentives available to you while the property grows in value. You've seen those unrealized gains already in the current value of the property (good job making a great investment even if you needed to make some repairs). Personally, we are buying properties with even a little negative cash flow playing that long game. That cash flow won't be negative in another 15 years and can prove to be a very valuable asset to help with your retirement plan. If you look at this as a net worth building asset, you may think differently. If you've gone from $425k value with $380k note - $42,500 equity to add to your net worth statement and now today, if you say it's worth $525k and you owe roughly $370k, you have grown that $42,500 into $155,000, it doesn't look like a bad investment to me. Do that deal again!

Hi Barb, If you feel like you need to talk with multiple lenders, you should. They don't all have to do a hard pull on your credit. They can do a soft pull which should only affect your score by a few points. Your score already fluctuates more than that throughout any given month so I wouldn't worry too much about the effect it will have on your credit. I would be looking for somebody that has the knowledge base and options available to make sure you have the right loan for your specific goals.

If your house is in essence the same as these new listings hitting the market at $510,000, why would a buyer choose to pay $60k+ more for your home over the others? That is the question you should be thinking about as that is what is going through the minds of every buyer in your market. I can't say without more details if that is the right play or not but it boils down to the competition. Are you winning this beauty pageant for the price you have it listed at or are the other homes leading you?

Unfortunately for them, that's not on you. Typically 6 payments need to be made for the lender to "keep" their compensation for doing the loan. Congrats on being debt free!

You can extend the lock, sometimes it costs money, sometimes it doesn't. You can ask what those fees would be and who is responsible based on your purchase contract with the builder. You may decide that rates are better too if your lock expires and you can lock in and new and improved rate! Good luck with your new home!

Hi Sabet, I would defer to your agent and local market conditions. If the market is a buyer's market or tougher to sell a property than in years past, you definitely want to complete any repairs prior to going on the market to really make the property shine! You want to win the beauty pageant that you are about to enter. Buyers want homes that are beautiful and well taken care of. It is going to pay off in the long run to address any eye sores or systems that are not functioning correctly ahead of time. Each time a buyer sees something that they will need to do, they will deduct thousands off the price even if it's a repair that might cost a few hundred dollars. There may be some options with your current real estate agent to have a small loan to perform those upgrades/repairs ahead of time so it doesn't stress your current budget too. It's ok to ask questions and be creative. Good luck with your sale!

Hi Whitney - your Mother-in-law is actually only contracting for the listing side. Any buyer side compensation request will vary and be submitted with an offer. Each agent offers different services and while her listing agent can set the expectation with what is typically expected in Tempe real estate with her, that 2% number will likely be different in reality. It is a negotiable piece of the contract which can always be countered but the listing agreements today do not outline a set fee for the buyer side.

You want to make sure you see the funds amount or greater in a bank statement or sometimes a buyer can be sensitive about their holdings so a banker can write a letter stating that the buyer has funds in excess of the price for the house! You definitely want to verify that either before accepting the offer or put a clause in the contract that the proof of funds must be provided within a handful of days. This is in our standard contract in Arizona so you might ask your agent if there's something there already.

Hi Carlos, It definitely can limit your buyer pool if you have a specific timeline in mind to move out that doesn't fit the "norm". If the buyer you have right now isn't flexible with their closing timeline, you can stay in an airbnb. The normal AZ timeline is about 30-45 days. You can also counter back with your ideal date, sounds like it's not an unreasonable timeline to ask for! Good luck!

Hi Mateo! It really depends on each agent and what their communication cadence is. For example, ours is every week on Thursdays with market reports every 2 weeks which includes showing feedback, marketing exposure and recent neighborhood listings or sales. If you haven't heard from them, it's reasonable to call and check in. It's also OK to ask them when you should expect to hear from them so you have the proper expectations moving forward. If your agent is a part of the team, there could be another contact that may be the better person to reach out to. Hope that helps!

Hi Mia, We prefer to use local lenders whether they are smaller Mortgage Brokers or local credit unions. The reason I like this is because they are familiar with local real estate practices, state-specific contract paperwork, timelines and I can call them and find out exactly what is going on with the client. Some of the bigger national banks lose that service aspect with so many different people and processes in the "conveyor belt". They often don't know who has the file currently which is less than helpful if something comes up that needs immediate attention. If you're talking to multiple mortgage people, go for somebody that you click with. You'll be dealing with them quite a lot throughout the purchase process. You can compare fees between the different options too. Be aware that many banks offer too-good-to-be-true rates on paper but you pay for them on the back end. It's never just the rate. Make sure you understand the cost associated with the rate you want. Best of luck with your home hunt!

Hi Noel, It really depends on what's important to you. If you love the feel of Downtown Phoenix's ranch homes on large irrigated lots, you can't find that charm in new construction. If building efficiencies are what you're looking for then even a resale home built after 2015ish may hit the mark. If you are truly looking at new, generally back yard landscape is not included with the new home and can be costly depending on what you're looking to do. If you want your new home to have a private pool, I would recommend buying a resale home with a pool already. Pools cost upwards of $50,000 and you do not get that money back when you go to sell. If you're incredibly payment conscious, some new construction offers incredibly low rates that you can't get with a resale home. The drawback is that most of our newer communities are on the outskirts of town so you have to factor in drive time as well. I know that's a lot - if you'd like to talk it through to help figure out which is the best avenue, happy to be a resource! Give me a call 602-748-6136. Chelsea Anderson Anderson Signature Team Keller Williams Realty Phoenix

Hi Lacey - That's a tricky question! The best starting point is if you can gather any intel on the Seller's situation. Sometimes price isn't always the trigger. Sometimes a seller would prefer speed over price so a shorter closing date or maybe they need more time to move so a closing date 60 days+ from now works better for them. Sometimes they need the flexibility to stay in the house for a week or a month after closing to accommodate their next move. Sometimes agreeing to take the house with no repairs or limited repairs is what they are looking for. Always check with your local agent to see what is or isn't something you can do with your State real estate contract. Here in the Phoenix area, here's things we can do: - Price (sometimes we can do this with an escalation clause. Example - we will beat the next best net offer by $1000) - Non-refundable earnest money or a portion of the earnest money - Timeline (quicker or longer closing period) - Post-possession - meaning the Seller can stay in the home after closing for a short time at little to no cost. - Appraisal waiver or guarantee up to a certain gap in the appraised value - Inspection certainty - either a shorter inspection timeline or guarantee to take the property "as-is" without requesting repairs. - Sometimes being able to take on personal items is a win at closing so they only pack up what they actually want and leave the rest. - If you have a house to sell before you can buy, figure out a way to remove that contingency when you are competing with other offers. - Sometimes paying your agent yourself instead of requesting that from the seller can get the deal done too. Best of luck! Chelsea Anderson Anderson Signature Team Keller Williams Realty Phoenix

Hi Jason, That's a tricky question! The best starting point is if you can gather any intel on the Seller's situation. Sometimes price isn't always the trigger. Sometimes a seller would prefer speed over price so a shorter closing date or maybe they need more time to move so a closing date 60 days+ from now works better for them. Sometimes they need the flexibility to stay in the house for a week or a month after closing to accommodate their next move. Sometimes agreeing to take the house with no repairs or limited repairs is what they are looking for. Always check with your local agent to see what is or isn't something you can do with your State real estate contract. Here in the Phoenix area, here's things we can do: - Price (sometimes we can do this with an escalation clause. Example - we will beat the next best net offer by $1000) - Non-refundable earnest money or a portion of the earnest money - Timeline (quicker or longer closing period) - Post-possession - meaning the Seller can stay in the home after closing for a short time at little to no cost. - Appraisal waiver or guarantee up to a certain gap in the appraised value - Inspection certainty - either a shorter inspection timeline or guarantee to take the property "as-is" without requesting repairs. - Sometimes being able to take on personal items is a win at closing so they only pack up what they actually want and leave the rest. - If you have a house to sell before you can buy, figure out a way to remove that contingency when you are competing with other offers. - Sometimes paying your agent yourself instead of requesting that from the seller can get the deal done too. Best of luck! Chelsea Anderson Anderson Signature Team Keller Williams Realty Phoenix

Hi Ben - You're doing exactly what you should be doing when looking at homes - imagining what your life could look like there! Your agent should be able to point out potential pitfalls or things of note while you walk around and see if the house fits your lifestyle. Everything is fixable, it's just a matter of money. When we tour, we point out foundation challenges, signs of water leaks, problems with pools, structural issues, roofs or really anything that pops up on our Realtor-radar that would affect the value of the house. Your agent's job is too look out for your investment! Always, always get a home inspection to further safeguard your purchase. Things we recommend digging into - HVAC, pools, termite inspections, sewer scopes, roofs and any other specialty concerns that pop up on your home inspection.

Hi Jackson - When making the ask for the seller to address things, make sure you ask to have a licensed contractor perform the repairs to protect the quality of the work being performed. It really boils down to your budget and whether or not you have control issues (haha) over who does the work or if you'd like anything customized or upgraded. What I mean is that if you'd like a different roof color, ask for the credit so you can control the choices. Best of luck with your new home! -Chelsea Anderson Anderson Signature Team Keller Williams Realty Phoenix

Hi Ali, Always defer to your local real estate agent for guidance on your specific market. They should know what is common and inline with the current market to ensure your offer meets with success! As a general rule however, yes! You 100% can ask for the seller to cover all or some of your closing costs. Be conscious of what the "net offer" is when crafting it so you understand what you are presenting to the seller. A net offer is the price you're willing to pay - anything you'd like them to cover for you (home warranty, closing costs, buyer broker compensation, HOA fees, etc). Good luck!

Hi Crystal! Talk with your local real estate professionals to help! Here in the Phoenix area, interest rates affect the number of buyers out looking at homes to buy. We have fewer buyers as rates are higher and when they drop to the low 6%s, we see a resurgence in buyer activity on our listings. We also closely track the amount buyers are requesting from Sellers to help with rate buy-downs to help make those payments cheaper. That locally has been hovering about $10,000 as a concession from the Seller for the last 3 years and we factor that into our estimated proceeds from every sale. Ask your local real estate people what traffic trends they have noticed with reference to interest rates and what requests are being asked for from buyers.

Hi Jorge - Depends on what your agent offers and what you are looking for. There are agents that are as hands on or hands off as you want. Most agents handle all marketing, coordinate the showings for potential buyers, guide you on pricing and property presentation, help you understand current local market conditions, negotiate an offer, process the transaction and protect your interests during the sale. There are some agents who go over and above with more of a concierge type of service level and there are some who will put your house in the MLS for a flat fee and let you handle the majority of the work and there's everything in between. When weighing the options, get very clear on what you want out of your agent and then find the one that hits your criteria and can help you facilitate your sale, your way. You do get what you pay for so keep that in mind. If protecting one of your largest investments is important to you, go with a full-time professional with recent, local successes that can help guide you in this market. Hope that helps! If you would like a recommendation for someone we trust in your area, let me know! Chelsea Anderson Anderson Signature Team Keller Williams Realty Phoenix 602-748-6136

Yes - a fresh clean and neutral paint job will definitely help to give your home an updated feel for any potential buyers! We have had clients who decide to not paint and sit on the market waiting for a buyer while the ones that do paint end up selling quickly and without having to drop the price! Worth the hassle everytime -100%.

Hi Josue, It likely depends on how flexible your tenants are to allow showings. If they aren't very cooperative, your price will likely suffer. If they will work with you, make sure that you allow the appropriate notice before showings based on your local laws. If they are open to leaving, you will have the widest buyer pool to look at the property without having to limit yourself to investor buyers only. Questions I would ask your tenants: Do they want to stay? Do they want to buy your house? Will they be flexible and allow showings - maybe during specific times during the week, figure out what that schedule might look like. Are they willing to keep the house clean & show ready? Is there anything they have been dragging their feet on calling to be fixed? Things for you to consider: What might your tax liability be after selling your rental property? Should you do a 1031 Exchange and buy another property to defer the capital gains tax? Are there easy updates I could do to maximize the value of this property to get a better return? Would you do these with the tenant in place or once they leave? If you need an agent recommendation in Atlanta, we have a great partner there who would be able to guide you on local conditions. Let me know if you'd like me to connect you. Chelsea Anderson Anderson Signature Team Keller Williams Realty Phoenix 602-748-6136

Hi Carmen, It's easy, just ask! Your agent should be able to guide you on pricing your property with a specific timeline in mind. If your goal is to maximize buyer attention to make sure you get the best offer for the current market, share that with your agent. Together you should be able to craft a strategy to appeal to the local buyers with a great price and great property presentation based on recent sales history in your area. If you need a recommendation for an agent in your area, we are happy to recommend somebody great! Just shoot me a text! Chelsea Anderson Anderson Signature Team Keller Williams Realty Phoenix 602-748-6136

Hi Pedro! It really depends on which loan type you're looking for. An FHA loan has a minimum of 500 and most lenders use a 580 as the baseline. The lower the credit score, the higher the rate as well. Excellent credit is typically thought of as 780+ to get the best rates available. I would recommend talking with a local mortgage pro to see what specific programs they have that you would qualify for. I would suggest Jackie Payne with My Community Mortgage - 602-820-5291 or Ramon Espinoza with Nexa Mortgage - 602-738-6158. Both lenders are fantastic and I've worked with both for almost a decade helping first time home buyers like yourself get into their first homes! If you find you want to increase your score quickly, I had a credit guru share the $10 trick with me years ago. Get at least 3 credit cards to play this game with. If you have credit balances, pay off the smallest first and go immediately charge $10 to the card. When the bill comes due, pay the $10 balance and go out and immediately charge $10 again. Play that game on your credit cards to quickly build good credit history which improves your score. Give me a call if you have more questions about buying your first home in Tempe ! 602-748-6136. Chelsea Anderson Anderson Signature Team Keller Williams Realty Phoenix

It's really about how long you plan to stay in this home. If this is a stepping stone on your way to your dream home, rely on your local real estate agent to help you buy a great value in an area with good historical appreciation. If this is something you plan to stay in forever, then you can be entirely selfish and go with your favorite for your own reasons. The biggest isn't always the best. Other things to consider would be if any of the properties need repairs that you would be responsible for and what your budget is to perform those repairs. That may narrow the list down quite a bit if you don't have extra cash to update the home or take care of maintenance issues. If you have kids, school districts may be something to consider. You might also ask if there are any boundary exceptions to those school districts. If there are, it might not be as big of a concern.

We always tell our clients to find a lender that they like - personalities match, communication cadence matches and they have programs that you are looking for whether that is access to VA (if you're a veteran), FHA, Down Payment Assistance, Jumbo loans, whatever. They should be able to run you through different scenarios based on loan type, down payment amounts, etc to determine which is going to suit you best and your budget. You are in control, you want a lender to provide options & education to make the best decision for you. We always recommend a Mortgage Broker and not a Banker as they typically can get you better interest rates by shopping different banks for you.

I really do think it depends on where your house is located. I would start with talking to local real estate professionals who have a track record of successfully helping home owners maximize their home's value. There are likely some different programs available that may be able to help if there are budget constraints and may help allow you to do both. A local professional can help guide you in the decision based on data and local buyer trends. Here in Phoenix - we can clean up the front but we would want to update the inside if we have limited availability of funds and time. The inside packs a bigger punch but we can't all out neglect the curb appeal. Hope that helps!

Hi Andrea, I think it really depends on where your house is located and what the current market conditions are. Some markets you don't have to but others it's a definite must do before going on the market. I would talk with a local real estate professional with lots of experience selling in your market and neighborhood and rely on their guidance. Here in Phoenix- the answer is yes! It will definitely be needed to win the beauty pageant that you are entering when you list your home.

I wouldn't go overboard but dressing up something that isn't exciting can always help with the appeal. I would of course talk with a local professional who has experience in this market and see what they would recommend. You may be in a market where it doesn't matter a whole heck of a lot or you may be in a market where it's an absolute must. If you need a recommendation in Nashville - Tiffany Fykes and her team are amazing, experienced, professional and can really help guide you to prep your house to maximize the value.

You can buy a second home! You can have up to 10 traditional mortgages at a time. If you're buying a 2nd home like a vacation property, you might not have to put down 20%+ down like an investment property. If you're keeping your old home and moving into a new primary home, you will want to talk through whether you need a lease or not on the old house to offset the mortgage to qualify or if you can qualify with both mortgages on your credit. If you're buying a new primary home, you can do that with as little as 3-5% down on a conventional loan depending on the lender. If you don't have another FHA loan, you may be able to buy with an FHA loan too. It's best to talk through different scenarios with a local lender and see which options make sense for you and your specific situation! Good luck!

Hi Sophia! It is perfectly acceptable to use the Seller's agent as your agent when you're buying a home. You will be asked to enter into a dual agency agreement meaning you allow that agent to represent both you and the Seller. There are certain things they can't share with you and vice versa. For example, they can't share if the Seller will accept something other than the list price or help guide you in making your offer. If you have your own agent representing you, they most certainly can give you that guidance and advocate for you during the transactional process. If you'd like to talk in more detail about how this works, happy to! Our office is in Tempe and I'd be honored to help! -Chelsea Anderson, Anderson Signature Team Keller Williams Realty Phoenix 602-748-6136

I'm so sorry! If you can - try to find out where her will is. You will want to know if the property is in a trust, her name or if she has a beneficiary deed. I can help you get the information too from a title company for the address. You will also want to know if there are any existing warranties, mortgages, accounts for HOA, home owner's insurance, utilities, etc. If she can help you get the account information for those things, that will be a major help when the time comes to sell the house. If she has the property in a trust - you may be able to do a Step Up Cost Basis with the new Trustee taking over which will help with being able to sell quickly, avoiding probate and potentially lots of capital gains taxes. If she has a will, you'll want to consult with a probate attorney who can help you through that process before you're able to sell the house. If she has a reverse mortgage, as soon as you notify them of her passing, they may start the foreclosure process, communication is key if that is the case. In our experience, they have been willing to work with our clients as long as they are kept up to date with what is going on. Hope that helps and if you need any recommendations locally for Phoenix resources, let me know! Happy to help!

Hi Santiago - this is a great question and we get asked all the time! You generally want to start down the pre-qualification process early - potentially even before you meet with a Real Estate Agent. We've found earlier is better as it gives you the chance to be able to address any potential surprises that come up, improve your score to get a better rate or maybe have the insights to pay off certain credit lines to improve your ability to qualify. We generally recommend our clients do this right when we meet so we can craft a strategy with a real budget. Mortgage lenders will either work backwards from the payment you want or tell you what your max budget is that you can qualify for. Both are good numbers to know so you can take that to your Realtor when you begin searching in earnest. Pre-qualifications in Arizona once issued from a lender last for 3 months generally. You will need one to be able to make an offer on a home. Our market is odd in that some homes go really quickly if they are priced right and presented well while others can sit for a while. You should be in a position to move quickly in the event that there is a home you love that has another offer already. If you'd like a couple local lender referrals, I'm happy to share!

If you've already been through your inspections and negotiated the repairs based on that inspection to which the Sellers have agreed, I'm afraid you don't have the opportunity to go back to them with additional things you'd like done. In the Phoenix market, the inspection process is usually 10 days at which point you make your formal request for items to be addressed. Once you submit that request, your inspection period ends. The Seller then has 5 days to respond to your request. Once they have responded (if they don't agree to correct the things you've asked), you then have 5 days to review their response to either accept it or reject the property and cancel the contract. Once you've come to terms and agreed to proceed with the property, you can no longer cancel or renegotiate based on the inspection.

Yes - in Arizona, there are both unrepresented Buyers and unrepresented Sellers. The listing agent's duty is to their client (the seller) which means they can let you into the homes they represent without you officially hiring them to show you properties. They need to market, show and sell each listing as they were hired to do which includes showing to buyers who call to see that listing. I would recommend having an attorney or your own real estate agent to help you navigate the transaction however as it can be very complicated.