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Is it worth buying a fixer-upper in a prime location rather than a finished home in a less desirable spot?

We have found a house that needs significant cosmetic work, like new flooring and a kitchen overhaul, but it is in the exact neighborhood we have always wanted to live in. Every other house we have seen that is already renovated is either out of our price range or located much further from the city center. We are trying to figure out if the stress of a renovation is worth the benefit of the better location.

10 Answers

Buy a home with oil and well?

We are looking at a few homes just outside of the city that we now rent in. They all have giant oil tanks outside of the house and well water. I have never had either and am not sure what the maintenance is. My agent also doesn't really know. I love the houses and they have a lot of land and space but I am nervous that i dont' know enough about these things to move to one of these houses.

10 Answers

Who is responsible for signing the listing agreement when a property is owned by a revocable living trust?

We are getting ready to sell a vacation property that was placed in a trust several years ago for estate planning purposes. There are multiple beneficiaries involved, and we are unclear if everyone needs to sign the contract or if only the designated trustee has the authority to execute the sale. We want to avoid any delays once we find a buyer and move toward the closing date in the coming months.

10 Answers

What is the best way for seniors to downsize from a Palos Verdes home?

My parents have owned their home in Palos Verdes Estates for many years and are beginning to consider downsizing. What is the best way to plan the transition, including deciding whether to sell before buying, decluttering and preparing the home, understanding Proposition 19 and possible tax implications, and finding a smaller home or senior-friendly community nearby? We would also like to know which professionals should be involved and how far in advance families should begin preparing.

13 Answers

Can my HOA prevent me from installing solar panels on my roof?

My HOA board says it violates the aesthetic guidelines of the community, but I’ve heard there might be state laws that protect my right to install them. I want to know how to approach the board and what documentation I might need to provide to get approval for the project.

7 Answers

Why is it often recommended to avoid opening new credit lines while under contract for a home?

We are currently in the middle of escrow on a townhouse and were considering financing some new furniture to have it delivered right after we move in. Our agent mentioned this might cause issues with our final loan approval, even though our income hasn't changed. We want to understand how the underwriting process views new debt during the period between the initial application and the actual closing day.

8 Answers

What should we know before selling a home that is currently held in a family trust?

My siblings and I are looking to list our late parents' home in, but the title is currently held in a family trust. We are trying to understand the typical steps involved in transferring the title or if the trustee needs to handle the entire listing process. We want to make sure the paperwork is in order before we interview local real estate agents and start the marketing process.

5 Answers

Is it better to ask the seller to fix inspection issues or request a closing cost credit instead?

After our home inspection on a property in Denver, several moderate plumbing and electrical issues were flagged. We aren't sure if we should trust the seller to hire the right contractors for the repairs or if we should just ask for money off the final price. We want to make sure the work is done correctly before we move in, but we also want to keep the deal moving forward smoothly.

14 Answers

Can I still negotiate for a price reduction if the listing says the home is being sold "as-is"?

We are looking at a fixer-upper in a rural area that is explicitly listed as an as-is sale. However, the initial walkthrough revealed some structural concerns that weren't mentioned in the listing description. We want to know if as-is truly means there is no room for negotiation or if we can still leverage the cost of major repairs to get a better deal on the property.

12 Answers

How can we make our offer stand out to a seller when we know there are multiple competing bids?

We have lost out on three different homes in the Seattle area because of bidding wars. We are trying to figure out what terms, other than just the highest price, might be most appealing to a seller who is looking at five or six different offers. We are considering things like flexible closing dates or larger earnest money deposits but aren't sure which levers are the most effective.

7 Answers