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What is right of first refusal?

What exactaly is right of first refusal? If it was written into a lease does that give them the power to buy the house? What if the owner passed away, do the children have priority to inherit the house? If the children have authority to inherit the house, how does this work?

10 Answers

Can I raffle my house?

I read a story about someone raffling off their house. They sold $1 raffle tickets, and 2 million people bought them! The home was worth $1 million. I'm wondering if this is even allowed?! It seems like a crazy idea, but maybe I'd try it if it was legal/possible.

14 Answers

CA Buyer Rep Agreement? Buyer agrees to pay the commission?

Buyer HAS to sign the Buyer Rep Agreement AND PAY the Broker's fee before we even see the house or really know if we like the agent?

13 Answers

Can the seller of the house make you get approved again?

I put an offer on a house, and the selling agent countered with a lot of demands. One of the demands being to send over financial statements to make sure I have closing cost and so I did. I countered again, and selling agent said I needed to get pre-approved by her choice of lender after she had already spoken to my current lender. We reached out the their said lender and were told it would only be a soft credit check since I have already had my credit ran in February when I locked in with my current lender. I did the application with her choice of lender for a soft check and they asked for bank statements, w2's and paystubs. I do not want my credit ran again and get dinged. Is this allowed? and all before they even accept an offer?

11 Answers

Can spouses buy property separately?

I'm wondering if I can buy a property apart from my spouse. I'd like to get an investment property and I would like to know if I can be the sole owner of it. We do file taxes jointly if that matters.

10 Answers

What if a home appraises for more than the offer?

I'm worried the home will appraise for more than what I offered. The seller agreed to the offer and we both seem fine with it. But if the appraisal is more than to the offer will I need to pay more to get the house?

9 Answers

How do I get a home out of foreclosure?

How do I get a home out of foreclosure? How long does it take? What are the steps? Do I need an attorney or real estate agent?

7 Answers

Can my house not be photographed?

We're selling our house. Can we ask that the inside of our house not be photographed? We're private people and don't want photos of our house or our kids rooms floating around or put on social media. We have professional listing photos, and would prefer that any potential buyer refer to those. We could even compromise and allow personal photos after an offer is put in. However, we don't want casual buyers coming through our house and taking photos and videos of it. It makes us uncomfortable. How do we navigate this?

13 Answers

Home appraised lower?

Our home appraised $10K lower than the offer. We'd like to get a second appraisal or push back. Our real estate agent says we should just accept the lower price. The appraiser isn't from this area and we feel like they didn't fairly appraise the house. What are our options? Can we contest the appraisal?

7 Answers

Do I need to be pre-approved before I find an agent?

Do I need a mortgage preapproval before I find an agent? I have a general idea of budget, so can I start looking at homes while I work on preapproval? Or will an agent not want to work with me if I'm not preapproved?

7 Answers