Answers by Shelly Farley

Do you see newer(construction) homes going for 150K more or updated/remodeled homes going for 150K? I think it all depends on your motivations and your timelines needed for your sale. If you sell your home without the updates, you of course make less. And to some people that\'s OK. Kitchens and bathrooms are where most of the expense comes from. What would it take financially to update your property? Do you have the funds to do so? And are you Ok with living with the construction? Will the construction time align with your moving timelines? Answering these questions should help you make a decision that\'s best for you.

According to our local investor group, 30% of tenants actually close escrow so there is some risk. First speak to an attorney so you fully understand the legal ramifications in your state. But there are some initial things to questions. Can the buyer qualify for a mortgage? Or are they just lacking down payment? (There are loan programs to help with that) Lease purchases are usually no longer than 12-24 months. You need to clarify who is responsible for repairs, taxes, insurance and HOA\'s during that time. Keep in mind that you want to maintain the condition of your property during this time. Deferred maintenance or unpaid expenses could cost you a lot down the road.

We have a few issues here. The first is every MLS has a period of time required for the property to be taken off the market and relisted with 0 days on market. Find out what your local area is. But the bigger elephant in the room is understanding todays buyers. Buyers have a lot of data available to them and they are not going to over pay for a property in todays market. Interest rates are not a large concern for my buyers- even first time buyers. They know they will refi later IF the rates drop. So I have to ask you.. Do you really want to sell and get to greener pastures or are you willing to sell only if you get your price? How much more will you pay in holding costs for this home as well as the possibility of higher purchase prices where your moving to? Run your numbers. That always helps!

Commission is and always has been negotiable. Each state has different legal paperwork and I can\'t speak to their documents. Your agent has a point. You do need to be prepared for the request for compensation from the buyers agent because you will most likely get one.( I personally haven\'t had a seller decline compensation yet in my area.) The market has changed to a buyers market in most areas. So there are more homes for sale than buyers purchasing and agent compensation could be the thing that makes or breaks your sale. I would recommend evaluating each offer on its merits and negotiate the best offer for you at that time. Let the buying public know you are open to paying compensation of some sort even if you don\'t disclose a set number.

Excellent question! That\'s one of the biggest myths in our industry! It\'s complete nonsense and keeps people from building wealth through real estate. Here\'s the facts! There are zero down payment loan programs available although the tend to have higher interest rates. VA loans are 0 down also as part of the benefits our servicemen and women earn for serving our country. FHA loans are 3.5% down payment . Conventional are usually 5% or more. I hope this helps!