Answers by Keith Jean Pierre

Cormac, there is no blanket answer to this, it depends on purchase price, loan type, available funds, etc. Keith Jean-Pierre Managing Principal The Dapper Agents Real Estate Operations in ALL 50 States

Nadia, ask for a CMA with recent comparables, ideally within the last 3 months and no older than 6 months. Keith Jean-Pierre Managing Principal The Dapper Agents Real Estate Operations in ALL 50 States

Didn't you post this on Reddit a few days ago? As I said there, I do not think you are going to get much sympathy from people on here by complaining about having to pay taxes on a $1.5M profit for literally doing nothing. Many on here are struggling so this is the very definition of 1st world problems. Enjoy the gain and live your life as happily as you can, never know what is going to happen tomorrow. If this really concerns you, speak with an accountant for some clever "wealthy people" avoidance strategies, but I will tell you, they are few and far between for primary residences. Keith Jean-Pierre Managing Principal The Dapper Agents Real Estate Operations in ALL 50 States

Carol, if you have a listing agreement, you would need the brokerage to cancel said listing agreement to be able to list with someone else otherwise it will most likely be a breach of contract that can open you up to financial penalties. Keith Jean-Pierre Managing Principal The Dapper Agents Real Estate Operations in ALL 50 States

You should not assume that you are taking 2 feet of your neighbors’ property simply because their new survey says so. Since your fence contractor followed the existing county/property survey, the best step is to obtain copies of BOTH surveys and have an independent land surveyor compare the deeds, recorded maps, property monuments/corners, and survey results. The newest survey does not automatically override the previous one. Good luck! Keith Jean-Pierre Managing Principal The Dapper Agents Real Estate Operations in ALL 50 States

Zillow Rentals, Craigslist and Apartments.com are going to be your best bet at this point. If you want something short term, a shared house Airbnb situation might be able to hold you over. Good luck! Keith Jean-Pierre Managing Principal The Dapper Agents Real Estate Operations in ALL 50 States

Tommy, this HEAVLY depends on the state location of the incident as state laws differ. As a general rule in the U.S., if the tree is on a homeowner’s property, the homeowner may be responsible if they had previous knowledge. If it was a healthy tree and the limb unexpectedly broke because of a storm or other natural event, the homeowner may not be liable for resulting damage. These of course are all generalities and speaking with an attorney will give you better insight as we are not attorneys here and cannot give legal advice. Good luck! Keith Jean-Pierre Managing Principal The Dapper Agents Real Estate Operations in ALL 50 States

Silas, this might very well cause some issues. Speak with your mortgage professional to determine. Keith Jean-Pierre Managing Principal The Dapper Agents Real Estate Operations in ALL 50 States

Wesley, since we do not know the full financial picture of your finances (outstanding debt obligations, monthly gross income, credit score, etc), we cannot answer this question definitively. A conversation with a mortgage professional would be your best avenue at this point. Keith Jean-Pierre Managing Principal The Dapper Agents Real Estate Operations in ALL 50 States

Tally, if you sell without paying off the taxes, they would be paid out of the closing proceeds. Keith Jean-Pierre Managing Principal The Dapper Agents Real Estate Operations in ALL 50 States

Quinn, are you handy or have family/friends that are well established in construction? If not, this is a horrible idea that will most likely result in future headaches and financial costs, especially if the home is over 10 years old. Keith Jean-Pierre Managing Principal The Dapper Agents Real Estate Operations in ALL 50 States

Marisol, selling the home as-is would be a viable option. Keith Jean-Pierre Managing Principal The Dapper Agents Real Estate Operations in ALL 50 States

An official appraisal is the easiest and most official way to accomplish this. Keith Jean-Pierre Managing Principal The Dapper Agents Real Estate Operations in ALL 50 States

George, this is fairly simple. What you need to do is contact an agent that specializes in this, like ourselves, and they will be able to handle the process from start to finish. The "auctioning" component will indeed allow you to sell relatively quickly with the most amount of interest if it is executed correctly. The most important part of this statement, is "executed correctly." We do about 40-60 of these every year. Start the price under market, have a 4-day showing window and then best and final offers by a deadline. There is a lot more to it, but that should give you the gist of it. Let me know if you have any other questions. Best of luck! Keith Jean-Pierre Managing Principal The Dapper Agents Real Estate Operations in ALL 50 States

Jason, Delray Beach has been a little more violate by comparison to Boynton Beach. Boynton Beach has been relatively flat since the pandemic increase that in that market slowed in Summer of 2022 while as Delray Beach has been more of a mini rollercoaster with swings as much as ~ 20% since 2022. Delray Beach has been more volatile than Boynton Beach over the past five years largely because it has a higher concentration of luxury, waterfront, and lifestyle-driven real estate. Delray attracts affluent buyers who are willing to pay a premium for proximity to the beach, Atlantic Avenue, restaurants, and downtown. That demand surged dramatically during the 2020–22 Covid boom, pushing prices up faster, but it also makes Delray more sensitive to changes in interest rates, stock-market wealth, and buyer sentiment. Boynton Beach has a larger middle-market and suburban housing base, so prices are more closely tied to local affordability and conventional household demand. That tends to produce steadier appreciation and less dramatic swings. Delray also has a wider range of property values, from modest condos to multimillion-dollar waterfront homes, so changes in the mix of homes being sold can make its headline price statistics move more sharply. Hopefully this clears it up for you. Feel free to let me know if you have any other questions or any further assistance in the area. Best of luck! Keith Jean-Pierre Managing Principal The Dapper Agents Real Estate Operations in ALL 50 States

Michael, typically when a property is sold there is a reassessment bringing property taxes to "market value." Keith Jean-Pierre Managing Principal The Dapper Agents Real Estate Operations in ALL 50 States

Tracy, Google Mobile Home Loans + your city and state and you will have a range of options to choose from. Keith Jean-Pierre Managing Principal The Dapper Agents Real Estate Operations in ALL 50 States

Wilbert, you are between a rock and a hard place. Your most common options would be to sell your share to someone; but given the dynamic, that is going to be next to impossible, or have one of the existing members buy out your share. Given you are minority owner at 1/3, you do not have a controlling interest. Keith Jean-Pierre Managing Principal The Dapper Agents Real Estate Operations in ALL 50 States

Renata, doing it yourself opens you up to legal liability. Hire a licensed contractor for peace of mind. Additionally, the buyers most likely are going to request receipts prior closing to verify the work was done properly and by someone they would trust. Keith Jean-Pierre Managing Principal The Dapper Agents Real Estate Operations in ALL 50 States

Harlan, in this situation it would be more cost effective to utilize the capital in a more traditional investment property or another alternative asset given you really are not producing any positive return. Keith Jean-Pierre Managing Principal The Dapper Agents Real Estate Operations in ALL 50 States

Sabrina, speaking with a real estate attorney will shed some light on this for you. Keith Jean-Pierre Managing Principal The Dapper Agents Real Estate Operations in ALL 50 States

Yolanda, have you spoken with a real estate attorney / financial planner? This is DEFINITELY a question for them as this is their forte. Keith Jean-Pierre Managing Principal The Dapper Agents Real Estate Operations in ALL 50 States

Barb, you have up to 45 days to search for mortgage where it only counts as one inquiry on your credit. Keith Jean-Pierre Managing Principal The Dapper Agents Real Estate Operations in ALL 50 States

Travis, technically yes, but I would be concerned as the buyer to purchase a property with this significant of an issue. Most real estate attorneys and agents would also recommend not closing with this significant of an issue. If closing still were to take place, I gather a very large escrow is going to be held until resolved. Keith Jean-Pierre Managing Principal The Dapper Agents Real Estate Operations in ALL 50 States

Dexter, we do not have further context so we cannot be sure this is right or wrong. What did your home look like in comparison to the comps when it was first placed on the market? If you were not priced appropriately by a large margin, this reduction could be normal. More details are required to properly assess. Keith Jean-Pierre Managing Principal The Dapper Agents Real Estate Operations in ALL 50 States

Ezra, calling a bonus room a bedroom solely to make the home compete better on price is the definition of misleading. I would look into your state code to determine what qualifies as a bedroom, rather than angering potential buyers with a bait and switch that can leave you on the hook even after closing. Keith Jean-Pierre Managing Principal The Dapper Agents Real Estate Operations in ALL 50 States

Rosalind, if you do not have a pre-payment penalty or clause in your mortgage agreement, you should be fine but a real estate attorney should be able to advise you for certain. Good luck. Keith Jean-Pierre Managing Principal The Dapper Agents Real Estate Operations in ALL 50 States

Trent, you may not need to tell the lender first, but I would check your mortgage documents before renting it. The answer depends heavily on what exactly you mean by “basement” as there are several variables. Is it a legal basement? Can you legally rent out your basement in your municipality? Keith Jean-Pierre Managing Principal The Dapper Agents Real Estate Operations in ALL 50 States

Ali, typically, if you go past your deadline, you can purchase a rate-lock extension for a fee, or your rate may move to the current market rate. Keith Jean-Pierre Managing Principal The Dapper Agents Real Estate Operations in ALL 50 States

Sabet, you should generally consider your agent’s advice, but don’t automatically take on major staging or repair expenses. The goal should be maximization of net proceeds, not simply make the property look better. First, focus first on relatively inexpensive improvements such as a deep cleaning, decluttering, minor repairs, fresh paint, curb appeal, and professional photography. For larger projects, ask your agent to explain the expected return. Compare the estimated cost of each improvement with how much they realistically believe it could add to the sale price based on recent sales of comparable homes. Exercise caution on major renovations or structural work as that can eat your "profit" margins quickly. Best of luck with your sale! Keith Jean-Pierre Managing Principal The Dapper Agents Real Estate Operations in ALL 50 States

Sabet, this is a personal decision. Better schools tend to result in better resale but if you do not have a need for schools at this time, entering into the market might outweigh the schools benefit. Best of luck with your decision. Keith Jean-Pierre Managing Principal The Dapper Agents Real Estate Operations in ALL 50 States

Owen, this will not be sufficient. Typically, the original deed is also going to be required, along with various disclosure forms and a formal title search. Speak with a title company or real estate attorney to confirm exact requirements. Keith Jean-Pierre Managing Principal The Dapper Agents Real Estate Operations in ALL 50 States

Camille, unless you received a confirmation from your agent or the listing agent, I would never assume that you "won the bid" on a home. Keith Jean-Pierre Managing Principal The Dapper Agents Real Estate Operations in ALL 50 States

Julian, here is a good guide to get you started: https://www.nar.realtor/the-facts/consumer-guide-ten-questions-to-ask-a-sellers-agent Keith Jean-Pierre Managing Principal The Dapper Agents Real Estate Operations in ALL 50 States

Bree, this is not necessarily the case unless both parties agree. The best bet for a sale like this is an "auction" style sale with the as-is stipulation. Feel free to let me know if you have any other questions or need any other assistance. Good luck! Keith Jean-Pierre Managing Principal The Dapper Agents Real Estate Operations in ALL 50 States

Simon, you need to speak with the brokerage you hired in order to do this. Good luck. Keith Jean-Pierre Managing Principal The Dapper Agents Real Estate Operations in ALL 50 States

Thomas, this is usually drafted in your offer contract. Typically, your offer adds the closing cost to the offer price. For example, you want to offer $500,000 on a home with an asking price of $500,000 but you want $10,000 in closing costs coverage (credit); you would offer $510,000. Just keep in mind that if a home does not appraise for the full value, this is the first thing the seller will look to cut. Good luck! Keith Jean-Pierre Managing Principal The Dapper Agents Real Estate Operations in ALL 50 States

Emma, sellers will typically ask buyers to cover the difference, especially if you are in a highly competitive market. If this is not the case, you can attempt to bridge the gap between the two of you. Very rarely does a seller eat the difference completely. Keith Jean-Pierre Managing Principal The Dapper Agents Real Estate Operations in ALL 50 States

Brad, you are more than welcome to offer anything that you would like; just as the seller is not obligated to accept any offer no matter how much it is. Good luck with your purchase. Keith Jean-Pierre Managing Principal The Dapper Agents Real Estate Operations in ALL 50 States

Tom, this would depend on your state, but I would imagine full disclosure is required. Since we are not attorneys on here, I would suggest speaking with a local real estate attorney to determine exactly what your responsibilities are. Keith Jean-Pierre Managing Principal The Dapper Agents Real Estate Operations in ALL 50 States

Brian, future predictions are sometimes cited but not often valid methods for negotiating; at least in our markets. Good luck! Keith Jean-Pierre Managing Principal The Dapper Agents Real Estate Operations in ALL 50 States

Renee, it all depends on the offer from the investor. Quite often the "we buy houses" companies have a large margin for profit and you are usually leaving money on the table. If you would like us to review for you, feel free to send us a message and we can discuss further. Good luck! Keith Jean-Pierre Managing Principal The Dapper Agents Real Estate Operations in ALL 50 States

Priya, if the mortgage is only in your name now and there is no clause in said mortgage that you can't rent the property out, you should be fine. If you want 100% certainty, speaking to a real estate attorney will clear the air. Good luck! Keith Jean-Pierre Managing Principal The Dapper Agents Real Estate Operations in ALL 50 States

Angelica, unless you are certain you are going to move by the end of your ARM, it is riskier than a traditional conventional. Keith Jean-Pierre Managing Principal The Dapper Agents Real Estate Operations in ALL 50 States

Chase, a non-traditional layout will always be harder on resale, no matter the timeline. Your true question should be, are you willing to live with that. Keith Jean-Pierre Managing Principal The Dapper Agents Real Estate Operations in ALL 50 States

Marcus, this is going to depend on how your contract is worded. If you have a real estate attorney, I suggest speaking with them to determine your options. Keith Jean-Pierre Managing Principal The Dapper Agents Real Estate Operations in ALL 50 States

Dana, you are actually in a solid position to work toward buying again: you’ve eliminated your previous debt, have good credit, and increased your income, so the main priority now is rebuilding cash reserves rather than rushing into another mortgage. I’d first establish an emergency fund of roughly 3–6 months of essential expenses, then build a separate house fund for your down payment, closing costs, moving expenses, and initial repairs. You don’t necessarily need 20% down as strong credit may make a conventional loan with 3–5% down worth considering. Most importantly, set your future home budget based on what feels comfortably affordable after taxes, insurance, HOA fees, maintenance, your car payment, and other expenses; not simply what a lender says you qualify for as that can lead you into another dangerous situation. Best of luck with your purchase! Keith Jean-Pierre Managing Principal The Dapper Agents Real Estate Operations in ALL 50 States

Gabriel, not honoring a contract can definitely get you in hot water. Keith Jean-Pierre Managing Principal The Dapper Agents Real Estate Operations in ALL 50 States

Whitney, buyer's agents now have a Buyers Agency Agreement with the clients. As such, if there is a difference in the agreement and the offered commission, they are more than welcome to have a conversation with the listing agent or present their offer as they see fit. If your listing agent can justify why they are getting more, I would not be terribly concerned. Keith Jean-Pierre Managing Principal The Dapper Agents Real Estate Operations in ALL 50 States

Corey, typically both parties try to negotiate when this happens. If you have an attorney, have them reach out to see what the options are. If not, have your real estate agent do this. Good luck! Keith Jean-Pierre Managing Principal The Dapper Agents Real Estate Operations in ALL 50 States