Answers by Keith Jean Pierre

Odessa, I would not recommend a quick sale "cash for homes" type of transaction in your situation as it will almost always result in a lower net number. We offer a listing program that is a hybrid between the two options (cash for homes / traditional listing) that almost always nets you more than selling to a "cash for houses" company. If you are interested, feel free to reach out and we can explain in greater detail. We operate in all 50 states. Good luck with your sale. Keith Jean-Pierre Managing Principal The Dapper Agents Real Estate Operations in ALL 50 States

100%! As you are most likely aware, price is often one, if not the only culprit. How are you priced in relation to the comps? What market avenues have you taken? Typically, I always suggest to clients to do a rent back situation as it is the easiest option out of all with the least disruption, but in your case, significant changes will need to be made because you will eventually have a hard deadline that will need to be met. Keith Jean-Pierre Managing Principal The Dapper Agents Real Estate Operations in ALL 50 States

Delawn, yes there might be something that can be done but I would need to know more about your case. Feel free to contact me directly and I can review on your behalf and discuss the options available to you. Keith Jean-Pierre Managing Principal The Dapper Agents Real Estate Operations in ALL 50 States

Nadia, divorce sales are typically done as per the divorce decree. Additionally, since you are equal owners that are both on the deed; unless there is an alternative distribution agreement, the proceeds are going to be split between both of you equally. Keith Jean-Pierre Managing Principal The Dapper Agents Real Estate Operations in ALL 50 States

If you sell the home, the process will satisfy the back taxes first before the proceeds are distributed to all parties. Keith Jean-Pierre Managing Principal The Dapper Agents Real Estate Operations in ALL 50 States

Marlowe, weekday open houses, unless they’re part of a very specific strategy, generally aren’t nearly as effective as weekend open houses. For obvious reasons, most people have work and other commitments during the week. The one exception I’ve seen work reasonably well is a “twilight” open house, typically held around sunset. Even then, it generally needs to be on a Friday and positioned as a limited-time viewing opportunity to create some urgency around the listing. That said, open houses traditionally aren’t particularly effective as a primary strategy for selling a home. Making them even more difficult to attend by scheduling them on a weekday is, in my view, almost certainly a waste of time unless there’s a very specific reason or strategy behind it. Best of luck with your sale. Keith Jean-Pierre Managing Principal The Dapper Agents Real Estate Operations in ALL 50 States

Priya, didn't you post this on Reddit yesterday? You need to speak with an accountant to discuss your liabilities. Keith Jean-Pierre Managing Principal The Dapper Agents Real Estate Operations in ALL 50 States

John, you must disclose this and even if you hid it, the buyer would most likely find out via disclosure statement. Keith Jean-Pierre Managing Principal The Dapper Agents Real Estate Operations in ALL 50 States

Lynden, your first step should be speaking with a mortgage professional to discuss your affordability. That way you will know what you qualify for and what changes you can make to increase your eligibility. Good luck! Keith Jean-Pierre Managing Principal The Dapper Agents Real Estate Operations in ALL 50 States

Selma, I gather that since this has been on the market 60+ days, you will not be the first, nor the last person to try and convince the seller they are unrealistic. Dealing with unrealistic sellers is unfortunately part of this industry but your approach is the most important and what can separate you from others. These would be my suggestions: Base the offer on data, not criticism. Use ~ 6 truly comparable recent sales to establish a defensible market-value range. Avoid an unnecessarily aggressive lowball offers as that will never get you where you want to be. Start below your valuation to leave negotiating room, but keep the offer credible. Make the offer attractive beyond price. Strong financing, solid earnest money, flexible closing, and fewer concessions can make a lower price more appealing. Use the long time on market tactfully. Say you’ve followed the property and believe your offer reflects current market conditions; not that the seller is unrealistic. Ask why previous interest didn’t result in a sale. Failed escrows, property issues, or prior offers can reveal useful negotiating information. Know your three numbers: estimated fair value, opening offer, and absolute walk-away price. Don't let your emotional attachment override the comps. If the seller won't come down substantially, walking away may be the best negotiating position. Best of luck with your purchase! Keith Jean-Pierre Managing Principal The Dapper Agents Real Estate Operations in ALL 50 States

Jocelyn, you can contest your appraisal valuation, but I will be honest, getting a reversal if very rare in this day and age. How much was the valuation difference? Was this FHA or Conventional? Keith Jean-Pierre Managing Principal The Dapper Agents Real Estate Operations in ALL 50 States

Otto, this is HEAVILY market dependent. Is your market red-hot like a NYC/LA or is it more of a Topeka Kansas? Additionally, this is no "traditional" formula for a main road location. It is going to depend on the comps and the severity of the situation. Have you spoken with a local real estate professional who can advise further on your specific market? Keith Jean-Pierre Managing Principal The Dapper Agents Real Estate Operations in ALL 50 States

Robert, without knowing additional information, I would imagine you are referring to a Hard Money Loan. You would need to speak with one of those lenders to discuss your situation as a traditional Fannie/Freddie loan is probably not going to be applicable here. Keith Jean-Pierre Managing Principal The Dapper Agents Real Estate Operations in ALL 50 States

Imani, this sounds like it was a For Sale By Owner. This is not very typical in traditional listings. Keith Jean-Pierre Managing Principal The Dapper Agents Real Estate Operations in ALL 50 States

Talia, although it is a nice gesture, I would advise not allowing given the risk it poses. Worst case scenario, if they do not close and want to be difficult, you have a mess on your hands. Keith Jean-Pierre Managing Principal The Dapper Agents Real Estate Operations in ALL 50 States

A last-minute change in loan amount can happen, but your situation is different from a routine small adjustment. This could mean the lender intentionally changed the loan terms, or it could be an error/missed update. I would speak with the lender so they can explain in greater detail. Keith Jean-Pierre Managing Principal The Dapper Agents Real Estate Operations in ALL 50 States

Bastian, I would not make your decision based on a refi in 5 years as you do not know what rates will be at that time. I would make your decision based on what you are comfortable with and can afford currently. Relying on what can happen in 5 years, especially given how the economy is at this time, is not a wise decision. Enlist the assistance of a mortgage professional for a professional opinion as well. Keith Jean-Pierre Managing Principal The Dapper Agents Real Estate Operations in ALL 50 States

Mark, it is simple supply and demand unfortunately. Keith Jean-Pierre Managing Principal The Dapper Agents Real Estate Operations in ALL 50 States

Marisol, typical? No. Does it happen? Yes. The seller is really allowed to do whatever they want, does not mean that it is right, but it is well within their rights. Keith Jean-Pierre Managing Principal The Dapper Agents Real Estate Operations in ALL 50 States

Junie, typically as long as they meet the closing date and you get the funds, that is all that matters. Financing situations change all the time in a real estate transaction. Keith Jean-Pierre Managing Principal The Dapper Agents Real Estate Operations in ALL 50 States

Nadia, if you are the executor of the estate, you can file paperwork with the court to start an eviction process. The main concerns here are: does he have a lease, was it in the will that he could stay there, and did he have permission to reside in the house before grandma passed? Once those are ironed out, your options will become clearer. Keith Jean-Pierre Managing Principal The Dapper Agents Real Estate Operations in ALL 50 States

Jeanne, speak with a local real estate attorney. Keith Jean-Pierre Managing Principal The Dapper Agents Real Estate Operations in ALL 50 States

Renata, if they truly do not have it and they are not going to close it would most likely be breach of contract. At that point, you most likely would have to determine if you want to proceed with a damages claim, but no doubt that will cost significantly more than just moving on. I am speaking in generalities as I am not an attorney so I would advise you speak with a real estate attorney to determine your exact options. Good luck! Keith Jean-Pierre Managing Principal The Dapper Agents Real Estate Operations in ALL 50 States

Sawyer, typically if a buyer keeps asking for extensions there is a problem with their financing most commonly, from personal experience. Does not mean that the deal will not close, but it is cause for concern. Keith Jean-Pierre Managing Principal The Dapper Agents Real Estate Operations in ALL 50 States

Frankie, unless it is written in your mortgage that you can't, you should be able to have a roommate; especially given this economy. Keith Jean-Pierre Managing Principal The Dapper Agents Real Estate Operations in ALL 50 States

Simone, I would imagine your timeline against your inspector has passed, but I would speak to a real estate attorney to determine if you have any specific recourse. Keith Jean-Pierre Managing Principal The Dapper Agents Real Estate Operations in ALL 50 States

me and my brother inherited our parents house like 4 months ago and its just sitting there. we're splitting the taxes and upkeep for now but its getting expensive. he wants to keep it and rent it out, i just want to sell and split the cash. is there a legal way to force a sale if we cant agree? Priya, typically you both agree, one person buys the other out, or you ask the courts to get involved. Keith Jean-Pierre Managing Principal The Dapper Agents Real Estate Operations in ALL 50 States

Forrest, unless I am missing something here, you agreed to halt the process but never agreed when to resume. Speak with the agent you signed the paperwork with and review said paperwork to determine your options. Keith Jean-Pierre Managing Principal The Dapper Agents Real Estate Operations in ALL 50 States

Bridget, different agents have different opinions. Keith Jean-Pierre Managing Principal The Dapper Agents Real Estate Operations in ALL 50 States

Simone, when you own a house, you should have homeowners insurance. If you have a mortgage, this is a requirement in most instances. Keith Jean-Pierre Managing Principal The Dapper Agents Real Estate Operations in ALL 50 States

Ezra, you will not be able to hide this. You need to inform your mortgage broker. If somehow, you are able to close (rather impossible), you would be committing mortgage fraud and open yourself up to criminal prosecution and / or fines. Keith Jean-Pierre Managing Principal The Dapper Agents Real Estate Operations in ALL 50 States

Ophelia, if you owe more than your home is worth, then you would have to bring the difference to closing. The only other option in most cases would be a short sale, but you would have to have a significant negative change in your financial situation for that to have a chance at approval. Keith Jean-Pierre Managing Principal The Dapper Agents Real Estate Operations in ALL 50 States

Christine, this is going to be completely subjective to your personal taste and needs. There are certainly features that can make a home easier to resell such as proper flow, an open-concept kitchen, natural light, ample storage, etc. But if any of these “traditional” layout items don't work for your lifestyle, those resale considerations are somewhat moot. Ultimately, the home needs to function well for you first. Keith Jean-Pierre Managing Principal The Dapper Agents Real Estate Operations in ALL 50 States

Thomas, unless they’re unable to operate in a dual-agency capacity for one reason or another, they would typically represent the otherwise unrepresented buyer. Keith Jean-Pierre Managing Principal The Dapper Agents Real Estate Operations in ALL 50 States

Dahlia, there is no standard answer to this question as it is heavily dependent on your local market. Nationally it tends to be ~ 3% of the sales price. Keith Jean-Pierre Managing Principal The Dapper Agents Real Estate Operations in ALL 50 States

Lucas, this depends on the loan type that your potential buyer is trying to secure. Given you are mentioning that the chimney was cited along with peeling paint, I am gathering this buyer is using an FHA loan. If this is the case, then yes, these repairs would most likely need to take place in order for them to secure financing. Keith Jean-Pierre Managing Principal The Dapper Agents Real Estate Operations in ALL 50 States

As a property owner granting a permanent utility easement, you want to make sure you treat the easement as a long-term transfer of valuable property rights and not just permission for a utility company to put a line in the ground. This will forever change the way the land is utilized. Things like the exact location and size, specifications of installation, access rights, modification/construction rights, restoration, damage, compensation, expenses, future sale, relocation rights, termination, assignment, environmental obligations should all be considered; along with many other criteria. You DEFINITELY want to speak with a real estate attorney to discuss your options and ensure that you are covered as we are not attorneys here and cannot give you legal advice. An easement negotiation is always in your best interest to be done with a real estate attorney who knows the process. Good luck! Keith Jean-Pierre Managing Principal The Dapper Agents Real Estate Operations in ALL 50 States

Wren, yes this is possible. An extension would need to be requested from your bank. Keith Jean-Pierre Managing Principal The Dapper Agents Real Estate Operations in ALL 50 States

Anton, for a self-employed borrower, Non-QM underwriting generally focuses less on “Do your tax returns show a high enough W-2-style income?” and more on whether the lender can reasonably document that you have the capacity and stability to repay the loan. The key is overall risk as Non-QM loans tend to be a riskier product, so there might be a deep dive into sectors of your financial profile more than traditionally done. I would suggest speaking with a mortgage professional to get an idea of what to expect. Good luck! Keith Jean-Pierre Managing Principal The Dapper Agents Real Estate Operations in ALL 50 States

Celeste, this heavily depends on the state in which this happened but in many states, an HOA board can levy certain special assessments without a membership vote; but there are typically limits. I would suggest speaking with your board and reviewing the bylaws to determine exact validity. You can also speak with a real estate attorney to get a clearer picture. Good luck! Keith Jean-Pierre Managing Principal The Dapper Agents Real Estate Operations in ALL 50 States

Adrienne, the market has changed dramatically for condos, including new regulations that have already taken effect and that will be taking effect in January. Unfortunately, it does not look like improvement is coming anytime soon so you need to make a decision on whether you are going to stay and ride this out for the next several years or you are going to take your loss now to move on. You can also rent the property but given you have an HOA fee and I gather you do not have a significant amount of equity given your statements, that might not be terribly cost effective given the risk of repairs and possible tenant complications. Good luck! Keith Jean-Pierre Managing Principal The Dapper Agents Real Estate Operations in ALL 50 States

Misty, you can use the HUD database to find an agent in your area. Keith Jean-Pierre Managing Principal The Dapper Agents Real Estate Operations in ALL 50 States

Misty, you can use the HUD database to locate an agent that will be able to assist. Good luck! Keith Jean-Pierre Managing Principal The Dapper Agents Real Estate Operations in ALL 50 States

Dominic, this is a question for a mortgage professional as we do not have access to your full borrowing profile which includes your credit, annual income and net income, outstanding debt, etc. Keith Jean-Pierre Managing Principal The Dapper Agents Real Estate Operations in ALL 50 States

Beckett, this is not necessarily the case, but you should speak with a mortgage professional now to determine what you have to do to ensure you aren't surprised in a year. Keith Jean-Pierre Managing Principal The Dapper Agents Real Estate Operations in ALL 50 States

Odette, this is highly dependent on what you are comfortable with. There isn't a "standard" list that is utilized. Keith Jean-Pierre Managing Principal The Dapper Agents Real Estate Operations in ALL 50 States

Farrah, speak with a real estate attorney in New York to determine your options. Keith Jean-Pierre Managing Principal The Dapper Agents Real Estate Operations in ALL 50 States

Nagla, this depends on what your release terms are. Typically, you will need some form of unconditional release to be able to list with another broker. Good luck! Keith Jean-Pierre Managing Partner The Dapper Agents Team Operations In All 50 States

Willa, a single family or condo/townhome residences will always have better resale than a mobile home. Keith Jean-Pierre Managing Principal The Dapper Agents Real Estate Operations in ALL 50 States

I feel like I recall reading this on Reddit a few days ago. As stated there, the response is the same here. We need further details regarding proposed monthly rent, your loan interest rate, etc. Generally speaking, this is most likely not a good idea due to the liability alone. Good luck! Keith Jean-Pierre Managing Principal The Dapper Agents Real Estate Operations in ALL 50 States

Delphine, I feel like I read this on Reddit recently. Honesty is the best policy. There is no special script for this. Keith Jean-Pierre Managing Principal The Dapper Agents Real Estate Operations in ALL 50 States