Answers by Emily Matthews

They will ALWAYS try to reduce prices. i-Buyers are in the business of answering to their shareholders, not to sellers. Watch this video: https://youtu.be/VUZzwxd7IW8

Yes, the agent should take her role seriously. Especially if you made a spreadsheet. Some things the agent cannot do include researching crime maps, calling utilities or school districts, or calling municipalities for questions on zoning/what's allowed/setback. This is because, like the game of telephone, the agent may not catch everything or may "translate" the answer. It's best for buyers always to make their own calls so they get info straight from the source. However, the agent CAN send you the sites and phone numbers of those sources.

Are your days on market (DOM) over the average for your area? If most homes are going under contract within 4 days of listing, and yours has been on the market 20 days, then yes, price is the issue. On the other hand, if the average DOM is 25 days after listing, and your has been listed 20 days, don't worry yet. The market is much slower than in 2021. Having said that, few showings and little interest means buyers are avoiding it. They do so when they think the price is too high. I don't know how much you adjusted down, but it should be one MEANINGFUL adjustment rather than a bunch of little $5K drops, which signal indecision. Look at what your competition currently is and be brutally honest: is your house helping sell those? You want to beat your competition, not be the most expensive house there.

That's a question to ask the builder. I would think if they're offering buydowns, they'd offer it to you also. But ask! Don't wait til the last minute.

Lenders have pretty strict rules on what they are allowed to do. 580 is the absolute lowest they can use. They will look at both buyers' incomes, but will have to consider the lowest score. Sometimes one person's score is so low, it's better just to use the high scorer's income. Unfortunately, 566 is not high enough for lenders to be able to help you now. But a lender CAN help with credit repair...

If the loan is with a small home-town bank, then it probably will trigger the clause. If the loan is bundled with a bunch of other loans (Big Lenders), they probably won't notice...but you MUST seek legal counsel.

You cannot "stay on the seller's policy." The insurance company is insuring YOU.

If not in the sales contract, they don't have a leg to stand on. Read the sales contract to make sure. Usually there's a line that says, "inclusions." If those weren't listed on that line, take a screenshot or copy of theat part of the contract & send it to them. That should shut them up.

You pay for the appraisal because it's your loan & your lender that wants it. Regarding earnest money, what does the contract say? Is there a default position? Read the sales contract. Regarding agents, yes, you can try to terminate the contract, but some brokerages have "early termination fees" or other crap like that, so look at what you signed. Read the listing contract. Regarding "selling your home," an agent's job is to INTERPRET the market, give you DATA & ADVICE, and MARKET the home to get as many buyers in as possible. Not to "sell the home." If he's not marketing widely, then yes, maybe he's a schlump. But if he advised a certain price and you wanted to go higher, then the market is talking!

Yes, you can shop lenders. I'm not sure what you mean by "professional mortgage program" but if it's something you found online , that sounds scammy to me. It's probably better to contact MI local lenders and see what they have to offer. One caveat: local mortgage BROKERS can shop rates for you. Local banks & local credit unions may have attractive programs, but usually can't shop rates. Shop around.

First of all, DID YOU SIGN THIS CONTRACT? If you did, you may no longer have any leverage, and will have to perform according to what's written in the contract. If you didn't, then you have wiggle room. Does getting the mortgage depend on getting seller concessions for closing costs? If it does, you won't be able to close unless the seller pays them, and that would be why the lender is "pushing" that. No concessions-->no loan-->no closing. In that case, the seller needs to know that your ability to get the loan depends on concessions, and they should be willing to do that if they want it to close. Or is the mortgage broker giving advice? Saying that it's a "good idea." Or that "you can negotiate that." If so, they are "practicing real estate without a license" and could get in BIG trouble in my state! Yes, you already know you should have used an agent...but ask your lawyer for specific advice.

Has the lender already sent you notice of foreclosure? If so, talk to them & try to sell "as-is" on the market. You should get a better price that way than selling to a flipper. The lender will have to approve the sale. Or, is the mortgage more than what the house is worth? If so, talk to the lender: they may approve a "short sale." Again, they will have to approve the sale. Annnnd, because this is a divorce, case, what does the judge say about all this? Is your ex on board with selling? Or did they already quit-claim it to you? The judge may also have to approve of the sale.

Look them up on the state's licensing website. Each state will be different, but good commands would be "license lookup" or "real estate licensee lookup."

See if the 4 can buy out the 1 first. Otherwise, it's court & court fees.

The appraisal contingency is there to protect the buyer (and lender) from over-paying. Sometimes the appraiser is, frankly, incompetent. Appraisals can be challenged & your agent should know how to approach this. I've challenged several appraisals. If it really can't be challenged, then propose an amendment adjusting the price to something you & the seller agree with. If you have a govt loan, the seller should know that the appraisal will stick around for half a year, so they wouldn't be able to agree to any other buyer with a govt loan. That's usually a strong motivator! If you have no extra cash to pay a little (or a lot) over the appraised value, and if the seller won't cooperate, you'll have to walk.

You can always sell "as-is" but it will get an as-is price. Or do repairs for market price. I have no idea what the repair costs would be, nor do I know what your market price would be. But statistically, new roofs net 100% ROI. Foundation repairs may be necessary just to sell the place. (I.e. lenders may not approve a loan if it's bad enough. No loan, no sale). But the bigger question is, WHY do you want to sell? Is it just because of the repairs? Or is there a different reason to move? IF you did the repairs, would you feel OK living in it for a while? It might be worthwhile to fix it up & just live in it. At least for a few more years. If you end up doing repairs, I'd suggest doing the foundation first, unless the shingles are so old they look like cornflakes, or the roof leaks. Then, the roof. After those, the bathrooms. FHA 203k loans or even conventional rehab loans could work. If you are low-income, there could be entities similar to Partners for Community Development (local to me) that could assist with some of the rehab. For more info on selling as-is see https://youtu.be/LCJlH4W7kpE

"2 free weeks to stay AFTER closing"??? Did you mean before? Buyers always "stay after closjng" because the house is theirs now. Assuming that's what you meant, then did they do a final walk-through prior to closing? If they did, and said nothing then, it's tacitly assumed they agreed to the condition. BUT...in my state, damage is required to be disclosed to the buyer, and repaired. So...did you inform them of the damage? What was their response when you did? Or did you try to hide it? Was it an insurance claim, or did you pay out of pocket? IF a claim, then that should be covered as well as the electrical, because it was the same incident. If you told them of the damage, then was the hole discovered later? Or was it something you deemed unimportant? The contract will spell out everyone's duties & obligations.

Short answer: OWNING the lot! Because the "real" in real estate is the DIRT, and they're not making new dirt. Anything on the dirt is an "improvement"...if you own the dirt. If you're just renting the dirt, the mobile home will be hard to buy & sell. It will need cash or a chattel mortgage, because it's just personal property, not real estate. In my state, whether it's on a rented lot or its own lot, makes the difference between $65K and $230K, for example.

Call each servicer, using a number that is on their official website, not on any letters or emails you received. Talk to a human. Make sure there's no fraud going on.

Yes, in my state you would definitely have to disclose all known defects to all potential buyers. Why not just fix the issues? Or adjust the price to a level buyers will find palatable?

If it's a POD or U-pack or similar you can call the company. If it's his, send him a letter that he has to sign for demanding he remove it. Find out what the legal ramifications are before removing it yourself. For example, with a rental in my state, if a tenant leaves things behind, the landlord has to store them and deliver a specific notice before disposing of the items. If there are any laws that would indicate that by you allowing him to have it there for a certain length of time, he now has some sort of "tenancy-at-will" wherein he's "renting" the driveway space, proceed with caution & talk to a lawyer.

You might want to shop for a different lender. I know lenders that will lock rates for longer than 90 days if a fee is paid. Ask them if they can do this for you, and say you may have to find a different lender. See if that gets their attention.

First, you'll have to see if the taxing authority will allow you to split the property into 2 new parcels. You might not be able to. If you can't, then he would have to buy out your portion. If you can, then you'll need a survey and, again, he can buy you out or else quit-claim that part to you. Then you'd sell it whatever way you want.

The title company has it wrong. So, how did they get that number? Did the lender give them that number? If so, WHY? The gift should already be subtracted from appraised value. But refer to the contract: what does it say?

Ask them to buy out your portion. If they can't or won't, you'll have to bring your concerns to the judge.

Unfortunately, the market is shifting and a May appraisal may no longer reflect the current market. But if the average DOM is 60-90, then 34 days is nothing to worry about. Unless the homes that ARE selling, go under contract in something like 12 days. Your agent should be able to calculate the average DOM for contingent listings. It might be different than the 60-90 days. As to price reductions, they should be meaningful, not "skimpy." In other words, IF price is the factor, going down by 9K is probably not going to move the needle. Usually, when there are showings but no offers, it means price is off by 5%. Therefore one big drop to 615 would look better than smaller successive drops.

If they have a lease, not until their lease runs out. Then no need to evict; just state that they must move out. If they are not paying rent then do a 5-day notice to remedy default or vacate. If they don't pay or leave, then a 14-day notice. Make SURE that they are delivered correctly. WI legal blank is a website with any landlord form you could wish. If they have a MTM rental agreement or are "at-will" tenants, then a 28-day notice could work. But check the laws regarding said notice, because "28 days" doesn't mean literally 28 days. It has to be delivered prior to the end of the rental period. For example, I have a tenant whose rental period starts on the 3rd of each month. If I gave a 28-day notice, it would have to be given by the 2nd of say, Oct, asking them to be out before the 3rd of Nov.

Talk to a bankruptcy lawyer asap.

Bear in mind, selling privately usually results in a smaller net amount than using an agent. I have found that when I list inherited homes, there are all sorts of neighbors "who want to buy the house." This is usually what owners or heirs tell me: they have a neighbor who "wants the house." But once it's listed for what it's actually worth, those neighbors all melt away. They were after a "deal." On the other hand, listing a house exposes it to more buyers than just one who wants a deal. Usually sellers get more that way. For example, I recently saw a sale that was recorded for 120K. If that house had been listed, it would have gone for at least 200K, possibly a lot more. (I can't say exactly, having only the google maps image to judge it by). That is the difference between a private cash sale & one exposed to multiple buyers in my area. If you really want to sell to this deal-hunting neighbor, see if you can hire an agent to manage the contract for a flat fee. I always offer a flat fee if the seller has already found a buyer. And I advise sellers as to what they can get. For example, this spring I facilitated a private sale for 275K. I told the seller that if she listed it, she could list for a minimum of 300K or even 315K, but she insisted she just wanted to sell it to the buyer she had. Even accounting for the difference in fees, the net if she sold at 300K would have been 13K higher, but she just wanted that particular buyer. I suspect the reason Me Neighbor wants to avoid real estate agents is that he knows an agent would give you a truer idea of market value than what Mr Neighbor wants to pay you. If you do go ahead with this, make sure that all legalities are covered. You will have to pay a lawyer to make sure you won't be on the hook down the line, for something you were unaware of. Or else just hire an agent with a good knowledge base. See this video: https://youtu.be/P174zvL8ZDI

It depends on how bad they are. New ones, even laminate, will help sell the house if there are burn marks, holes, lots of cuts & chips, or other obvious flaws. This could make the difference between a sale and no sale. Otherwise, get a countertop polish & make them look as good as possible if they're just "old." Sometimes people get special paint, but that could be a lot of work.

This sounds like an odd situation. Why is her name on the mortgage but not the deed? I wouldn't want to pay for something without my name on it. Be that as it may, your best bet is to consult a lawyer. usually the "owner" is who is on the deed. But get advice from a real estate lawyer, please, so there are no arguments down the line.

The official way to list a house is to follow what the taxing municipality states. For example, I recently sold a house with an additional "bedroom." The township stated it was a 3-bed, but the 4th room had a closet, so I listed it as "office or 4th bedroom" and the MLS bedroom count stayed at 3, because the assessor said it was 3. But anybody reading the description would be able to tell it could be a bedroom. Another home had FIVE bedrooms total. I listed it as 4 (because one was super small) and this time had a disclaimer in MLS, "following language to be included in offers: 'buyer understands that assessor states property has 2 bedrooms'" because obviously the bed count was WAY off. And I wasn't going to state in MLS it had only 2 bedrooms, which would be a disservice to my seller. If there's enough price difference between 3 & 4 beds in your area, it might be wise to get it permitted retroactively. Or get creative with the description.

Usually in my state, they don't. They may have to use some time to get quotes, but usually they respond timely. If they just plain don't respond at all to a proposed amendment, then the buyer has the option to send a notice. Ask your agent for advice; that's what they're there for.

Absolutely! Contact the lender and ask about a short sale if you don't have the cash to cover the difference. If they agree, then list it for what you can get. Bear in mind, they will need to approve the sale. Talk to them asap!

If it's in a mobile home park, it's not real estate. They may be able to guide you as to what other owners sold for. If it's on its own parcel of land, it's "real estate" (land is the "real" in real estate), and an agent can help you y providing comparable recent sales.

The best way to find out is for your agent to do a CMA of similar homes on small lots (one data set) and then another of similar homes on huge lots (another data set). What's the average price difference? Having a bigger than average lot helps future sellability even if the price difference isn't what you expect.

Absolutely not! But the appraisal contingency means the house HAS to appraise or else the seller has to drop the price if it doesn't. It's possible to challenge a low appraisal; I've done that a number of times. But the issue is normally corrected by the seller dropping the price and/or the buyer paying a bit more. If you just can't or don't want to, then in order for the sale to go through the price has to come down.

Because you have huge equity, the terms of a conventional loan might be better for you than a VA loan. Especially if you went with a "big-box" VA lender you found online. Check the terms of the two different loans: closing costs, interest rate, fees, etc. It might be worth checking out a different loan/lender.

Short answer: no. Especially if it's not on its own land. Yes, if it's on a rented lot, it will be harder to sell. The mortgage for a mobile home if it's on a rented lot will be a chattel mortgage; usually a very high rate.

Her broker is nuts if they said that. I suspect something more is going on than what you indicated. Usually offering full price, then negotiating after inspection, is a safe way to get seller attention on your offer. Worry about flaws the inspector finds AFTER your offer is accepted. And even then, the negotiations might simply be that the seller fixes things rather than adjusting price. It all depends on what's acceptable to both sides. If the house is genuinely overpriced, it could make sense to offer less. Your agent-if she IS your agent- should be able to guide you. The reason I stress this is because sometimes buyers contact the listing agent who represents the sellers. Then the agent assists the buyer transactionally, but is not the "BUYER'S AGENT." They remain the seller's agent, unless the buyer signs an agency agreement with them; then they'd be a dual agent. Sounds as if your agent might be new at this, and may not have a good broker, or may be misunderstanding something.

This is a lender question, but if it were me, I'd ask them why this is happening, and how it can be fixed.

Wow, what a pickle! I'm so sorry you're enduring this mess. You need to know WHY they switched lenders. Are they really shaky, and everyone's playing the game that they "hope it'll all turn out"? Or, did they just find a rock-star lender that's giving them a better deal? If they're so shaky they're trying another lender in desperation, you deserve to know the deal will probably fall apart. You should be told sooner rather than later. Contact the agent's broker ASAP. In writing (email) and follow up with a call. If you get nowhere doing that, then you could try filing a complaint. I'd file a complaint about the lawyer too.

It will depend on what is needed. If anything is listed on the inspection report as a "defect" or "safety hazard" then these should be asked for, or else negotiate price. If there are a lot of little things, you can still see if they'd negotiate either repairs or price. In my state, buyers almost always ask for electrical repairs. Your agent can guide you.

First, you might change your mind about kids. Then being in that district will pay off personally. Second, there's no way to tell what the market will do, so it's not something you can figure out ahead of time. E.g. if all those homes are on the high side now, they could drop more in a downturn, due to a "school district mini-bubble" (a term I made up). Say they're all going for $400k now and ones outside the district are $380k. If there's a regional downturn for some reason, maybe all homes will drop to $365 no matter what. Or maybe the top tier will drop to $380k and the lower tier to $370K. Ask your agent what market dynamics are doing. In my market, the top tier are experiencing a much slower market than starter homes. Third, being in that school district should get you a bigger buyer pool later on when selling. IF it stays sought-after. If, for some reason, the district's rating drops, then obviously it wouldn't benefit you. My ultimate advice is to buy a house you like with a doable monthly payment no matter the school district.

You need to understand your ownership interest. Does your title work describe you as the sole owner or were/are there tenants in common? Could there have been unpaid taxes that resulted in a tax sale? If so, it's unlikely that the person who paid them would contact you, because the COUNTY is the one sending notifications. In addition, TX is a redeemable deed state, so you'd have the right to redeem, assuming this was all legit. Talk to a lawyer before you do anything else. Bring any and all documents & letters when you meet the lawyer. Good luck!

Yes. In my state, the contract reads, "broom swept condition and free of all debris, refuse, and personal belongings." I expect most states have similar in their contracts. There have been buyers who refused to close when the seller left things behind.

Talk to a lawyer. This would be a similar situation to a divorce. I had a sale like that. 2 people, not married, still had to get a lawyer and agree to how they split it.

If the market is such that a lowball will get you nowhere, then don't do that. In order to negotiate on repairs, it's necessary for the offer to first be accepted. Offering full price or close to it, will actually get you the house, after which you can then worry about negotiating for repairs. If repairs are indeed needed...

Can you get a different agreement to escrow for repairs to be done after closing? That way, you can still close & the repairs are still done. Usually the escrow is 1.5 times the estimated cost. Both the buyer & seller sign off when the work is done, and any extra goes back to the seller. Used in WI all the time for septics when the sale is in winter. Usually in my state, when permits are pulled, the owner OR the contractor pulls them. Who does he work for? Get his boss to do it.

Anybody will buy anything for the right price. Your price will have to reflect the fact that significant repairs are needed. And you may be limited to cash-only buyers. A badly cracked foundation will not qualify for VA or FHA loans, and might not even qualify for a conventional loan. Unless it's "cracked" but not badly? In my state, hairline cracks are very common. You'd need to get a professional to weigh in on this if there's any doubt.