Johnny Sarkis

I recommend that you consult with an Attorney for a definitive answer

Because your situation involves title rights a quitclaim deed and loan obligations itaEURTMs a legal question thataEURTMs state specific To get a reliable answer youaEURTMll want to speak with a licensed real estate attorney in your state

A private listing can be useful for specific situations privacy concerns high end luxury homes or testing pricing strategy But for most sellers maximum exposure equals maximum value The MLS and open marketing typically create more demand and stronger offers which translates to more money in your pocket

In a typical real estate transaction the buyer does not receive their earnest money back as a separate check after closing Instead this good faith deposit is applied as a credit towards the total amount of money the buyer needs to bring to the closing table This means it directly reduces your out of pocket expenses for the down payment and closing costs Exception if Purchaser defaults and Seller is awarded escrow

There is no universal rule across the US Building codes vary by countylocal jurisdiction Most define a bedroom by minimum size means of egress usually a window for fire escape and sometimes ceiling heightAppraisal lending standards sometimes they expect a closet to count it as a bedroom for valuation purposes even if the code does not require it

Before you spend the money Ask a local Realtor to pull the comps If 4BR homes are consistently selling for 25KaEUR40K more than 3BRs in your neighborhood the math may favor converting If not you might market the loft as a aEURoeflex space potential 4th bedroom

Since you havent signed anything there is absolutely no harm in talking to other agents This is standard practice Interview at least two other reputable agents in your area Dont Share the First Price When you meet with them dont mention the price the first agent suggested Let them come to their own conclusion based on their independent analysis Compare the CMAs If all three agents come back with similar price ranges its strong evidence that this is the current market value for your home If one is a significant outlier either high or low ask them to justify their numbersIf youre still uncertain or if the agents opinions vary widely you can hire an independent licensed appraiser An appraiser has no stake in the sale and provides an unbiased professional opinion of value This costs a few hundred dollars but can provide invaluable peace of mind and serve as a powerful tool when discussing pricing with any agent A

Pricing your home is not just about picking a numberaEURitaEURTMs about strategy Northern Virginia real estate agent will work with you to balance your goals with current market realities The right pricing approach can mean the difference between sitting on the market or selling quickly and for top dollarIf youaEURTMd like a free detailed home valuation in Northern Virginia IaEURTMd be happy to provide a customized report and walk you through the numbers side by side with recent sales

If your goal is to test a higher price point a pocket listing can give you some insight But keep in mind that maximum exposure through the MLSaEURand being syndicated to Zillow Realtorcom and hundreds of other sitesaEURis usually the best way to create buyer competition and maximize your sale price

It is rare for a buyer to seek a re valuation unless itaEURTMs necessary to keep the deal aliveA 50000 gap is significantaEURyou now have an opportunity to negotiate with the seller for a lower purchase price or walk away without overpaying

Yes sellers must disclose known water issues in most states The safest path is to protect yourself with inspections direct questions and flood history checks before buying