Answers by Reilly Forrest

Hi Louise, thank you for asking this question. I know selling a home can feel overwhelming, especially where to start. The first step is to meet with a local real estate agent and put together a plan that works for you. Since you’re in your eighties and maintaining the property is becoming more difficult, I would not recommend taking on a long list of repairs or improvements before speaking with an agent. A good agent can walk through the home with you, explain what is worth addressing before selling and, just as importantly, what you can leave alone. Depending on the property and your goals, selling it largely as-is may make more sense than spending months preparing it. From there, you can establish the home’s likely market value, decide what preparation is appropriate, and create a timeline for selling and moving that doesn’t feel overwhelming. The goal should be to make the process as simple and manageable as possible while still protecting the value you’ve built in your home. As an SRES certified agent(Seniors Real Estate Specialist), I would recommend seeking guidance from someone who is SRES certified. Throughout the certification process agents assisting will be qualified to assist you throughout the process.

Ezra, I would prioritize the big-ticket items like structural concerns, plumbing, electrical, and outstanding immediate safety concerns rather than the whole report of items depending on the how open they are to repairs or credits. Based on your findings, I would definitely request the deck footings issues be remedied by the sellers, while leaving small items like the rattly bathroom fan for a future small project.

I would search their online presence on public sites like Zillow, depending on the state you can check secretary of state website by business license types to find if they hold an active license. Also, if you are considering working with them, I would strong recommend their past sales records.

Great question Julian. With the change in the market we have seen recently, I would ask their list price to sale price average over the last 12 months, how many homes they have sold this year so far, and how familiar they are within your area. If the agent has not had multiple successful listings sold in this market given the changes we have experienced recently, I would not be confident in choosing that agent. You should ask how many listings they have taken this year, and how many they have sold to see the correlation between homes listed and homes sold, along with their listing plan for homes sitting 30,60, 90 days and what their action plans were with homes that did sit on the market, were they able to reposition the home in a way that got the home sold? Or did they simply continue the marketing plan used when they first listed the home?

In a lot of cases yes. The biggest factor that this depends on would be if the home is under and HOA or CC&R's, if so I would check there first. Second would be to check with the city or county to see if there are any rental restrictions you need to be aware of. Most mortgages will not pose a problem to rent out a room given its still your primary residence, though I would check with your lender as well before renting it out.

I would speak with a local agent regarding your outstanding mortgage balance, along with the total closing costs and checking nearby sold homes to ensure you will will not be required to bring additional funds to the closing. The best first first step would be to analyze this information with a local agent to understand what the numbers would look like before listing your home for sale.

Great questions Lacy. In addition to the interest rate, I have my buyer request a full loan cost breakdown sheet to compare closing costs, interest rate, consider the loan officers schedule (may times they are needed outside of office hours) and expertise in the loan process. Once you request the full loan cost breakdown sheet between a few lenders you are interested in, you can clearly see what lender can provide the best overall pricing. Outside of those factors I would look at the loan type you are most likely using, and see what special programs that lender or institution can offer.

First step, meet with a local realtor to access your homes condition against nearby sales along with what the home will likely sell for. To find a good agent, I would vet local agents by checking their online presence, asking about their sales within your community or nearby communities to ensure they are an active agent who deeply understands your market and has had good success listing and selling homes in your area.

Hi Kasey, depending on how long your home has been listed and the interest received outside of the offer it would be good to consider a review date within the next few days. What this can do is offer the current offer along with any other interest the chance to submit an offer without waiting too long before losing the current offer. Another suggestion would be speaking with the agent and/or buyers regarding any possible changes to the offer that would warrant moving forward with that offer with certainty the offer is the best option to be considered. In this market, I see some sellers miss the opportunity for an offer to wait for another offer to come only to be disappointed when no other offers come. Losing the first offer that was submitted.

Great question Elizabeth. This far into the contract I would be a little concerned about changing lenders. Speak with your agent about what addendum could be implemented (delayed closing, changing lender from required) that could protect you from losing earnest money if you do not close on time. Here in WA state, we require seller consent past the 5th business day under contract to protect us from losing earnest money. Also, I would have the lender with the lower rate pre-underwrite the file to prevent " new information" that increases the promised rate from the second lender. This is very common to see where a lender gives a rate that changes once they have all the documents pertaining to your loan file.

Great questions James. Generally, selling within the first few years of ownership can be costly. Depending on your markets appreciation over the last 3 years will decide if it is profitable, or you end up bringing in cash to close. I would consult with a strong local agent regarding what your home would sell for, assess net proceeds after all cost of sale, then decide from there if any other options are worth considering (exp. renting the home out). In my marketplace here in the greater Seattle area, many communities would require seller bringing cash to close based on the current home prices, the purchase price originally bought at, along with the cost of sale.

Great question Li. I would connect with a strong local agent who can go over all of the data for the year and previous years to access the pros and cons of listing in the winter months as this is area specific. From my experience in WA state, I find that my buyers purchasing during the winter months secure the best deal due to lack of active buyers shopping at that time. There are less homes listed for sale, though the buyer pool drops tremendously giving buyers a huge advantage securing homes 1-5% under where they are selling in the spring! If you need a local referral for a good agent, feel free to message me I'm happy to help.

Great questions Trudy, I would definitely consider what impacts waiting could do from a lifestyle perspective. Rates have been pretty similar since 2023 so depending how long you and your family can wait that may be worth considering. Homes are still selling quickly, though its property dependent vs a hot or cold market like we have seen over the last 5+ years. I just listed a home yesterday, and have 2 offers already though the house has been updated, and priced correctly which helped in us securing offers so quickly. A great first step would be to consult with a strong local agent who can share local data, go over the best options whether it be waiting, or selling now depending on what you can net from the home sale. I have a strong referral network throughout the US and would be happy to refer a few strong agents if that's helpful. Hope this gives you factors to consider that are helpful for you and your family.

Hi Pedro, This is a great question I see quite often. I would access the market conditions where you live with a local expert to see what the home could sell for as is vs updated. Does waiting a few years effect your lifestyle? Where is the market conditions where you live, and how has the market been impacted over the last 12+ months? All these factors should be considered before making a move. There are also companies which can make the improvements, then get paid out at escrow, I have utilized this resource for multiple clients with success to both get top dollar, without bringing money out of pocket.

It shouldn't. Check with any local rules within your state or region, though applying for multiple mortgages within a 45 day will not constitute another hard credit pull as people shopping around mortgages for a house purchase is very common. This should not delay your home search, though check the date you applied for the original loan, and verify with lenders you are speaking with about if this will constitute another credit pull.

Hi Zofia, great question. You will be limited on purchasing power though you can secure a 3% conventional loan. The max loan amount allowed would be $832,750 for a max purchase price of $858,505 while putting 3% down. Anything over this is considered a high balance loan which with a conventional approval would require a bigger down payment. I have been licensed in Washington and work throughout Seattle and nearby communities. If you needed any additional help or have other questions feel free to reach out directly. I have a few very strong lenders who are able to problem solve with clients to get the lowest closing costs, and interest rates on home purchases in our area.

Olga, big banks are locked into the specific loan programs their bank offers where as mortgage brokers have flexibility in working with different banks and loan programs that can be advantageous depending on the loan type you are applying for. In a fast paced, multiple offer market sellers and sellers agents usually would prefer a strong local lender they have worked with (company or individual) though if your market is averaging 30+ days on market that becomes less important since no other offers are on the table.

Do you have more information? For example home updates, any deferred maintenance that effects the home livability?

Great question Juan. Regarding the full list of items recommended to repair, I would consider only the most important items from the list that prevent buyers in your area from writing an offer. For example, many times upgrades in the kitchens and bathrooms fair better vs updating something that is outdated, or has deferred maintenance in a bonus room or hallway. I would also work with your agent regarding your strict budget, and timeline and come up with a plan based on those restrictions to bring the highest ROI for the given factors. From there, I would verify what items most common items that are causing homes nearby not to sell, or that cause nearby homes to sell at a massive discount to prioritize those items first. Items that commonly pay off the best is servicing systems in the home, roof cleaning, painting and floors in the case that their is damaged carpet or hardwoods.

Levi, I would double check your HOA paperwork. All of the townhome associations I have been involved in reflect commercial vehicles are not allowed to park on the premises. I would check for parking outside the community, or a nearby storage option if there is no accessible parking near the community.

Great question Thomas, many times converting the garage may be a decrease in value. This is dependent on many factors like location, price point, nearby homes that either all have garages vs areas where homes do not have a garage. I would consult with a local agent who can show you how these factors affect pricing based on nearby home sales.

Great question Charles. Depending on your state and what lenders you work with options vary. A perfect example of this is the Covenant program in WA state which offers buyers up to $150,000, 0% interest down payment and closing costs assistance. I would check with local and state housing commission website for full details on the programs and requirements.

Great question Nora. This is a situation I handle consistently for my clients looking to buy and sell. What I have clients consider regarding this topic would be if you hold off to sell until purchasing a new home, how will your contingent offer effect the probability of you securing your next home? If you were to decide to sell and buy at the same time, do homes sell quickly in your market, or tend to sit for 1+ months on average? A strong consideration would also be what selling first could save you in negotiations on your future purchase, why you may ask? Let say you are buying a home, with a high down payment, and no contingent offer addendum sellers may be much more negotiable in the overall price you pay for the home. Another consideration is you have more leverage to tour at your own pace. More money + less contingencies + no rush of time limits of securing your next home (under contingent paperwork)= More leverage.

Depending on terms. I would evaluate the likelihood of the of the loan falling through based on their financing, reserves and other factors which could impact the sale. For additional leverage, I would suggest negotiating the cash offer closer in price to the one with a mortgage.

Great question Leslie, the first step would be the easiest solution. Changing out all lightbulbs with LED 100w daylight will really brighten up the space. If this does not remedy the issue, another consideration would be adding light fixtures where the dark spots are still in the case the home has dark areas within the home. Both of these have worked wonders on 1950- built homes that present dark. Check for any trees or shrubs that are preventing natural light from coming in, and consider trimming them if this supports more natural light. The last option depending on your interior paint color is brining in a very light color choice throughout the home. This will help massively to brighten up the home, especially in connection with the improved lighting.

Great question Rob. I would consult with the agent you end up working with regarding how this effects buyers in your market. New carpet works just fine. Especially since you have dogs and replacing this will help with the smell of animals. Depending on the floors through the remainder of the home, having similar flooring throughout may be a great choice that flows better however if nearby homes that are selling all have carpet upstairs in the bedrooms and hallways this may be worth just replacing the carpet with new carpet.

Hi Peggy, great question! I just had these same questions for my client who will be listing their home in a few months. The short answer-yes, in our market here on the eastside the best way to get people in the home is a well presented home, with great photos to get people off of their phones looking at your house, and into your house. This is the first step, now assuming you leave the house with your personal items inside, buyers tend to start focusing on who is living there, photos, paint colors, etc which diverts their attention from how they and their family could use the space. In the past, I had a seller refuse to re-paint his bright green room however this became a piece of feedback from most all parties. Upon painting the room to match the rest of the home, we received an offer within weeks after this remediation and closed 3 1/2 weeks later. My honest take- make your home as attractive to majority of the market vs personalized for the strongest probability to receive the most, and strongest offers.

Not sure I understand the question.

I would recommend an ozone machine. Make sure to fully air out the home after using the ozone machine before entering the home with closed windows. I have used it, along with clients which drastically reduced bad odors in the home.

Richard, I would consult with a strong local agent to see what the highest ROI would be regarding updates. This may be worth considering, or instead investing that money into other upgrades like new floors, kitchen, paint, cleaning, etc. Once you have determined what would be the best upgrade for the money you can consider where would make the most sense to upgrade.

Depending on your market conditions. From a tax prospective, 2 years is the shortest amount of time you can sell for tax savings, though depending on the appreciation, or depreciation in your market this usually dictates most sellers decision to either sell the home now vs wait.

Couple options. one is to hire a real estate agent who works in your area, another route if you are set on listing it yourself would be a "list for flat fee" MLS service which you can list it for a flat price but all the pricing, negotiations, prepping, and control handled by you instead of an agent.