Ryan Reed

The market is already giving you your answeraEUR"and it's usually not about needing a new agent. At 35 days on market with solid showing activity and no offers, this comes down to price vs. perceived value. Showings with no offers usually points condition (or more specifically a price that may not be supported by the condition). The "right buyer will come" is not a strategy. Some questions that your agent can assist with: What is buyer feedback? What specifically are the differences in the homes going under contract around you, i.e. improved condition, additional features, etc.? 35 days on the market is not a long time per se - but before changing agents, make sure you understand buyer feedback (and objections), as well as why the other homes have gone under contract more quickly.

This is not an uncommon scenario - especially with sellers who are waiting for a build or searching for a new home while concurrently selling their current residence. The bigger question for you is: are you able to wait 3 months after your purchase to take possession of the home? If you are, arrangements like this, while not uncommon, shift the situation from a straightforward "closing -> possession" to "closing -> landlord/tenant -> possession". There are risks, but they are manageable if you document it correctly. Your agent should have a standard post-settlement occupancy form that will clearly state the rent amount, security deposit, who is responsible for utilities/insurance, as well as address penalties for not vacating on time and damages. Your best resource is your agent/broker who can walk you through the mechanics of the arrangement. You may also seek assistance from an attorney who can give you specific legal advise on your situation as well as draft the agreement if needed.

Yes, it can be sold. The trust is not an issue in and of itself. The life estate, however, is essentially someone's right to occupancy for life. The life estate is not removed automatically - it will "stick around" even if you purchase the property unless it is properly removed via legal process which requires the person holding the life estate to sign a release. The question really becomes is the person who holds the life estate willing to release it? If so, this is typically easily handled by the settlement/title company who will have their attorney prepare the new deed to you as well as the release of the estate.

No, "discount" agents do not offer the same breadth of services as "full price" agents. A better way to look at the differing roles is to think of one as being "limited service" and the other as being "full service". Always focus on the level of service offered to you by an agent - not just the commission amount. Whether you hire a "limited service" agent or not depends on what your goals are. Are you seeking to maximize your sale proceeds with full service professional representation that does your heavy lifting? Then hire a full service agent. Or are you trying to tweak costs on the front end by seeking a lower commission rate? Then go with a limited service agent - but, be prepared to see the reality of a service level that matches that commission rate. What's more important to you? Saving 1-2% on agent commission or potentially leaving thousands of dollars on the table when your property has sold?

Multiple sales of the same house every ~2 years are not an automatic red flag. But that does require an additional review. This happens a lot more frequently that you might think. When I encounter it, I immediately look at the "history" which will reveal any "private" notes in the past listings as well as possibly some indicators as to why this might be occurring. The current seller's disclosures are also a resource to determine what, if any, material issues the seller is disclosing. Also, when these are truly "red flag" events, local agents already know this, and in many cases, your agent can articulate the reason(s). If I encounter a house with 3 sales in the last ~6 years, I have likely been inside it and/or reviewed the previous listings as they were listed, and the same is true of other local, full-time agents. Don't rule it out just because of the sales every two years, but definitely ask your agent and do your due diligence in terms of your own observations about the neighborhood, neighbors, etc., as well as a professional home inspection.

Typically, once you as the buyer are under contract, there are very few ways (if any) that a seller could "back out". Purchase agreements/contracts are generally written to favor the buyer in terms of contingencies, i.e. financing, title work, appraisal, inspections, etc., which in turn, offers multiple clean "exit ramps" for buyers should issues arise. The same is not true when it comes to the seller. Review your specific purchase agreement/contract for provisions that might allow this - but I doubt they are present. Share your specific concerns directly with your agent who is in a an excellent position to assist you and provide you the reassurance you need. In the event there is a possible seller "exit ramp", your agent can work to "close" that ramp for you.

Excellent question. The short answer: not everything on an inspection report is a negotiation item. The goal isn't to " get everything fixedaEUR?aEUR"it's to re-trade the deal based on meaningful defects, without turning the negotiation into "noise". A cracked heat exchanger and active roof leaks are legitimate negotiation items because they affect safety, livability, or the core function of the home. These are where your leverage is. Worn or aging systems and cosmetic items (carpets, walls, vent covers, etc.) can add up, but typically these are taken into account on the front end when you agree upon a purchase price - but not always. There is no real standard for negotiating post inspection. A good approach is to bucket your concerns into a) Major/Safety/Functional Issues, b) Deferred Maintenance, and c) Cosmetic. Cosmetic items are not typically negotiated post inspection. Often I approach major concerns like roof leaks and cracked heat exchangers as either warranting a further specialized inspection (and quote) or simply stating on behalf of the buyer that the seller should repair these areas subject to buyer re-inspection. A credit to the buyer from the seller is another option, but that really should be based on something tangible (like a quote). Typically sellers do not want to deal with repairs, and for a buyer, a credit means that you control the vendor and the quality of the work. But leading with a request to the seller to repair rather than credit softens the blow so to speak, and often leads to the seller's offer of a credit in lieu of repair.

This situation comes up frequently. The first question is: does your agreed upon purchase price reflect that this home needs this level of repair (~$30K)? If so, that puts your seller's offer of $5K into a bit more perspective. However, if you asked for $30K and they agreed to $5K, you can potentially counter at a different (higher) number or even counter at your original $30K request - in fact, I would recommend that approach. $5K - $30K is a significant gap. These are not minor issues you are describing. They are material in nature and adversely affect the value of the property. If you have not already done this, I would also try to slow down your process and get some professional opinions on these areas particularly the foundation. You should also be trying to dial in the cost - is it "closer to $30K" or is it $30K or is it more? The real question is whether you are willing to tackle these issues at your agreed upon purchase price minus the $5K. One other thought is this: In Ohio, sellers are typically expected to provide inspection reports from past buyers to subsequent buyers as a part of disclosure. The onus is on the seller, but generally if you have provided a professional inspection report noting these concerns and you terminate your purchase, the seller (and/or agent) should be disclosing that inspection and related findings. This affects your negotiation position - in other words, they really can't move on to another buyer if you walk and conceal these issues.

It sounds like there are multiple areas of concern. The incorrect mapping in the MLS/Zillow is a significant error (which should correct itself when the MLS is updated, but not always). Add your concerns with your part-time agent and the lack of buyer (or buyer agent) feedback being provided to you, and you have a right to be concerned. Frankly, you stated, "We aren't sure this is a priority," and you're right. Unfortunately, with part-time agents, the struggle is real. It does not make it acceptable, but it is what it is. Have you asked your agent for insight? Specifically, a month on the market doesn't mean much by itself. Currently, sellers could experience 30-45 days of marketing time depending on the property, location, pricing, and competing properties. So ask your agent what the average market time (days on market) is for your area and property type. You are getting "a few showings" (but no offers) which usually maps to a pricing vs. perceived value mismatch. As your agent to review recent sales (comps) that may have appeared since you listed a month ago. Also what properties are competing with yours and how are they priced? And also ask your agent to find out what the buyers that did view your home actually thought of it, i.e. why did no one make an offer. Lastly, verify that Zillow captured the updated area from the MLS. Sometimes Zillow does not always note changes like this - or it does so inconsistently. Sometimes it is not a matter of another agent doing a better job, but that certainly is a valid option to consider. But before you potentially change agents, ask questions above and ask for details. Your agent should be able to effectively articulate to you what is happening in words you can understand. And also objectively review your pricing and how your home is positioned on the market.

Yes, closets that are above grade and within the exterior dimensions of the home are counted as square footage.

In Ohio, there is nothing that requires disclosure of loud, disrespectful, and/or annoying neighbors. Telling your agent is completely up to you. Often when I inquire about reasons for selling, I am more concerned with things like do I need to assist with finding a new home or do I need to coordinate other aspects of the sale to align with the seller's plans. Keep in mind that even if you did tell me as your agent that you are moving due to loud and disrespectful neighbors, I would treat that as confidential and licensing laws prevent me from sharing your confidential information. It may seem basic, but I would also apply this to a scenario where you might say that you are moving to be closer to care for your mother. It's no one's business but yours, and unless you grant me permission to share your personal information (reasons), I cannot.

One is sufficient as long as you are using a qualified, professional home inspector who is following an established set of inspection criteria/guidelines. This is essential as it ensures areas are not "missed". A second full inspection is redundant. That being said, your best approach in my opinion is the general home inspection which encompasses all home systems and then add specialty inspections such as roof, HVAC, foundation, etc. to further detail the areas you may be more concerned with.

This is an extremely common question. Right now you have an offer in hand. How you proceed depends on your context. Does the offer you have meet your expectations as to price and other terms? Are you expecting additional offers? Or just hoping? The possibility of other offers alone should not delay your action with the offer you have. Acceptance is not your only option. You can accept, reject, or counter. And this is important. It is also nuanced based on what the terms of the offer are. Waiting for more offers - that may or may not come - can backfire. The offer you have may expire, the buyers may move on, etc. The fact that you are questioning whether to accept tells me the offer may not be a "slam dunk" as far as price and terms. If that is the case, discuss with your agent, and counter with the terms important to you. Until you have full acceptance in writing and signed by both buyer and seller, you can still receive and review other offers. An experienced agent can help manage that process and ensure you are not "under contract" and missing out on other offers until you have the terms and price that YOU want dialed in.

Zillow estimates are computer generated values based on public records, listing history, recent sales - basically aggregated data. The estimate you see is best thought of as a "value range indicator" - not as a hard anchor. Zillow estimates are often unreliable because a) errors in public records (wrong number of beds/baths), b) additions or improvements that are not taken into account, c) unique homes, d) areas with less sales data. In addition, Zillow has no way of knowing the functionality, layout, or market desirability of a given property - not to mention it is unable to differentiate local nuance, i.e. busy road vs. quiet street, proximity to possible negative (or positive) factors, etc. A Zestimate will never replace local expertise, property condition, or real-time market strategy. For that you need an experienced and local agent.

It may not feel great, but home prices are set by the market - actual buyers - not artificially. If homes are going under contract, that's the market clearing at a level buyers are still willing (and able) to pay. That's not artificial. Are some homes overpriced? Yes. As a result, you will see price reductions, longer marketing time, and seller willingness to negotiate. There is some element of "testing" more so that in previous years. And that is where an experienced agent can help buyers navigate the market without blindly overpaying.

Everything is negotiable. At minimum, the seller is responsible for compensation its agent for professional representation and services. And, a buyer is responsible for compensating its agent. There is nothing inherently wrong (or illegal) with the seller paying 6% if that is what the seller agrees to do. "Maximum exposure" is a specific strategy, and it is valid. If I am your agent, there are two things I will make you aware of as a seller: 1) Everything is negotiable, and 2) Every buyer is going to as you as the seller to pay "something" - usually their agent's compensation in full. As such, it sounds like your agent is preparing you for the inevitable end result by pre-defining a total compensation for both your representation and the buyer's. In turn, your agent is able to market your property with that aspect already handled (and with the seller prepped in advance to expect the cost). Please keep in mind that practices in how this is communicated and handled vary widely from state to state, and even brokerage to brokerage. The key takeaways are: a) Everything is negotiable, b) Each party is responsible for compensating their professional, and c) Buyers can ask the seller to pay all or a part of their professional's compensation. Refer to A.

Most standard purchase agreements/contracts have a provision for this scenario. Typically, the entire contract is contingent upon the buyer's financing (which requires the appraisal). Generally, if the buyer cannot obtain financing, the buyer can exit the transaction without loss of earnest money. Your feeling is valid - they offered $550K and that is what you expect them to pay. Consult your contract. But in reality, you have three options (reduce the price, release the buyer and return to the market, or work out some middle ground). As for another appraisal, that is possible, but limited in that if the loan type is FHA, that appraisal stands - even with a subsequent FHA buyer. With other loan types, the only way the buyer could order another appraisal would be to switch lenders - which is not necessarily recommended as it does not sound like the appraisal you are dealing with is grossly off the mark. It is possible for the appraisal you have to be fully reviewed by you and your agent to ensure nothing was overlooked or mis-stated. If there is an error, or perhaps a missed comp sale, you may have some leverage, but even one missed comp does not necessarily bridge a $20K gap.

Your home will attract buyers IF it is priced appropriately. While typical buyers are seeking " move in readyaEUR? homes, there is a market for homes like yours among active buyers. The key is to price it appropriate for its condition. Consider reviewing more data with your agent. Specifically, what are homes in similar condition to yours selling for? And what are homes in updated condition by similar to yours selling for? Is your split-level updated at all? Is it just the kitchen that is outdated? You could endeavor to update the kitchen as well as the rest of the house, but that is a significant investment in time as well as the upfront capital needed to fund the updates. Adding time, money, and the added layer of managing the entire project is often not practical for most homeowners. Bottom line - people will come and look at your house - just make sure you price it appropriately based on its condition.

This is a common scenario, but also a very misunderstood one. I suggest that you have an attorney prepare your agreement (sometimes called a Land Contract of a Lease with Option) so that you are protected in the transaction. Generally speaking, seller financing is a viable option if the tenant provides you with a significant down payment upfront and/or an option fee. The agreement will cover " backing outaEUR? as well as your legal remedies if they do back out or otherwise don't pay. As for the house not being in " great shapeaEUR?, this is a risk you take with a tenant regardless of whether they are " renting to ownaEUR? or just renting. This is also a very good reason to secure a significant down payment for in the event they " back outaEUR? or stop paying, you have gained more financially that if you were dealing with " just a tenantaEUR?.

45 days with no activity is highly indicative of being overpriced for the market. An interest rate change will not fix that. Delisting and listing again later is easily spotted by agents - and also savvy buyers. Buyers routinely question things like " wonder why it did not sellaEUR? and that can be a deterrent. And what if interest rates do not improve? You could just keep it listed and wait it out - but if no bites in 45 days, your pricing is probably significantly high. A price adjustment is warranted in your case - even if it is not the full $50K recommended by your agent.

Yes, you could handle things yourself. But do you really know what those things are? From the very beginning, working with an agent actually means you have professional representation in the transaction. And that is huge. An experienced agent is your fiduciary who handles negotiations, inspections, escrows, lending, and more on a daily basis, and can absolutely add significant value to your purchase while doing the " heavy liftingaEUR?.

Do not wait for interest rates. Home values are trending upward, and you will pay more for your home if you wait.

The best way to determine this is to look at sales data - recent sales in particular. You can also review competition (other active listings). It is important to note that when you compare homes, you should be looking at similar size, configuration (beds, baths, and other features), so you are comparing apples to apples as much as possible. There is significant nuance to this in that there is usually no " exactaEUR? match. This is where an experienced, local agent can assist you by pulling " compsaEUR? and helping you analyze and understand the data.

List when you are ready. Yes, there are generally more active buyers when the weather gets nicer, but your home will sell anytime during the year as long as it's appropriately priced for the market.

Yes, you can buy a house if you owe taxes - and I assume that you are referring to federal taxes and that you are on an IRS payment plan. That being said, if you are using a lender, the amount of that monthly payment towards the taxes will count as part of your overall debt which is used to calculate your debt to income ratio (DTI). If your debt to income exceeds the lender's threshold, you may not qualify for the loan. In addition, the lender will want to see the plan (in writing) that you have set up as well as proof of payments.