Zillow Advice RSS: Discussion-Guide,All Real Estate Advice Topics,NH http://www.zillow.com/advice/NH/all/discussion-guide/ Zillow Advice search results | Zillow Real Estate SHOULD A SELLER PAY THE BUYERS CLOSING COSTS? What you need to know... http://www.zillow.com/advice-thread/SHOULD-A-SELLER-PAY-THE-BUYERS-CLOSING-COSTS-What-you-need-to-know/362254/ Todays question is "As a seller, do i "have to" pay the buyers closing costs?"<br/><br/>As a seller you&nbsp;never "HAVE TO" do anything. However as a seller you need to know that you should do whatever you can control to bring the most amount of potentilal buyers to your house. there are so many variabls you can control, you do not want to alienate buyers from teh start.<br/>&nbsp;<br/>As a listing agent and as a seller the goal is to&nbsp;bring about the quickest sale at the most obtainable price. The first thing you need to do is get a brokers price opinion. you need to know what teh value of your property is in todays market. You need to price your house at or near market value. Make sure though you leave room to negotiate though. Virtually all offers will be lower than your asking price and yes some buyers may ask you to pay 3% of the closing costs. It is common&nbsp;no matter where you live.<br/>&nbsp;<br/>Most buyers who are asking for their closing costs to be included need to have them included. They have great credit but do not have a large savinges.&nbsp;If you decline offers asking for credit for closing costs, you may be hindering the sale of your own house. You can negotaite the price and teh amount of closing costs you are willing to credit. You usually can get a higher price which offsets the credit to the buyer and allows you to sell your house.<br/><br/>Updated August 15, 2010<br/><br/>Blog written by:<br/><br/>Scott Godzyk<br/>Godzyk Realty Group<br \><br \>19 replies Sun, 15 Aug 2010 22:21:00 GMT http://www.zillow.com/advice-thread/SHOULD-A-SELLER-PAY-THE-BUYERS-CLOSING-COSTS-What-you-need-to-know/362254/ 2010-08-15T22:21:00Z NO ONE IS LOOKING AT MY HOUSE! WHAT CAN I DO? http://www.zillow.com/advice-thread/NO-ONE-IS-LOOKING-AT-MY-HOUSE-WHAT-CAN-I-DO/361334/ <p><strong><u>This Morning's question is; <em>'No one is looking at my house, What can i do?"</em></u></strong> Unfortanately in this market it is a common question.&nbsp;The first thing you have to do is get&nbsp;a new brokers price opinion completed to see where your house is priced in the market. If your house is priced above market value, with the increase in listings, your house my be priced too high to attract buyers. You want your house priced at or below market value. The 2nd question to ask is anyone calling, where is the agent directing their marketing. Ask the agent why they think there is no lookers. If your price is at or below market value and no lookers why is this happening and try and solve it.&nbsp;<strong><em><u>As i write this today there are some market factors that every seller is facing:</u></em></strong> The banks are not loaning money very freely, Potential buyers are ready and willing to buy, they are just not able until the banks start loaning money. This fact is keeping inquiries up and showings down. Here in the Northeast we have faced the hottest summer in recent memory, heck last year we didnt have a summer with 28 days of rain in a row.&nbsp;The weather is affecting showings. July and August are typically slower than Spring and Fall markets with vacations. We typically see a decrease in showings. <strong><em><u>WHAT ARE THE ANSWERS?&nbsp;</u></em></strong> There is no easy answer, the most important thing is to be priced correctly at or below market value. Make sure the exterior of your home is neat and clean, most people drive by the property first and in a split second decide whther they are calling back to get in, or will keep on driving. Better times are coming with the fall market right around the corner where showings and sales typically increase.</p><br \><br \>8 replies Mon, 09 Aug 2010 13:16:00 GMT http://www.zillow.com/advice-thread/NO-ONE-IS-LOOKING-AT-MY-HOUSE-WHAT-CAN-I-DO/361334/ 2010-08-09T13:16:00Z HOW CAN I FIND OUT WHO OWNS A FORECLOSED HOME? http://www.zillow.com/advice-thread/HOW-CAN-I-FIND-OUT-WHO-OWNS-A-FORECLOSED-HOME/361335/ <p><strong><u>One of the most common questions of late is: <em>"I have been watching this house that got foreclosed on, i really want to buy it, how can i find out which bank owns it?</em></u></strong> The first thing you should know is that virtually&nbsp;all&nbsp;banks do not sell the properties themselves in which they have foreclosed on. The bank contracts with an asset management company who then contracts with local brokers who are approved in their network. When a property is purchased back by the bank at the foreclosure auction, the property is then assigned to that asset management company which then assigns the listing to an approved broker in that area. if the loan was insured by Fannie Mae or Freddie Mac, sometimes there is a delay in them taking over the property and getting it listed. If the listing is assigned, once the house is vacant, that agent will post their name and number on the door. That is the easiest way to find out who will be selling the property. If you really want to try and find out who the ower is, You should start by checking with the city or towns assessor office, look at the tax card to see if the new owner (the bank) has been updated. If not you will need to check the old foreclosure listings to see who the forclosing bank or attorney was. If no luck you can take the name of the old owner, then search the deed to find out who held the mortgage. If no luck will all these attempts, getting a buyer broker experienced in foreclosures, may be able to assist you in finding out this info or at last watching MLS for when it does come on the market.</p><br \><br \>6 replies Mon, 09 Aug 2010 14:16:00 GMT http://www.zillow.com/advice-thread/HOW-CAN-I-FIND-OUT-WHO-OWNS-A-FORECLOSED-HOME/361335/ 2010-08-09T14:16:00Z I OFFERED FULL PRICE ON A SHORT SALE, DOES THAT MEAN MY SALE WILL BE APPROVED? http://www.zillow.com/advice-thread/I-OFFERED-FULL-PRICE-ON-A-SHORT-SALE-DOES-THAT-MEAN-MY-SALE-WILL-BE-APPROVED/363987/ <strong><u>This mornings top question is: I offered full price on a short sale, will that mean it will get approved?<br/><br/></u></strong>Before making an offer on a short sale there are several things you need to know and consider. First a short sale is not guaranteed to ever get approved and can take 3-6 months on average to complete, so you need to have time and patience before making an offer. Second the most common killer of a short sale is price, you want to make sure that asking price was at or near current market value, some agents will cut the price in half to attract more buyers, the bank will have an appraisal completed and will only approve a short sale at or near market value, so if your price is to low, despite what the asking price was, it could be denied. <br/><br/>The next problem is the type of mortgage you are getting. If you are going FHA, you need to make sure the house can get a fha mortgage, there are checklists you can get online or from your loan officer. If the house needs work, it may not pass a fha appraisal and being a short sale the seller wont want to pay to fix anything. Lastly fha takes 45 days to close on average, the bank usually wont give more than 30 to close a short sale after approving, so you need to get all your financials&nbsp; to your LO&nbsp;so when you do get approval, you are good to go, there are some costs and there is a gamble if it doesnt get approved so make sure you are updated by you or your buyer agent keeping in constant contact with the listing agent or negotiator for the seller for updates.<br/><br/>Blog Written by:<br/>Scott Godzyk<br/>Godzyk Realty Group<br/><br \><br \>4 replies Fri, 27 Aug 2010 13:57:00 GMT http://www.zillow.com/advice-thread/I-OFFERED-FULL-PRICE-ON-A-SHORT-SALE-DOES-THAT-MEAN-MY-SALE-WILL-BE-APPROVED/363987/ 2010-08-27T13:57:00Z Which is wiser: start with a multi-unit or start with a single family? http://www.zillow.com/advice-thread/Which-is-wiser-start-with-a-multi-unit-or-start-with-a-single-family/509337/ My fiancee and I are looking to purchase our first property in New Hampshire either at the end of this year (after we marry) or sometime next year. &nbsp;I'm a seafarer and am interested in the acquisition of multi-unit properties to help provide income so that I can one day come ashore. &nbsp;Both of us like the idea of multi-units (we'd invest in the Manchester area) but we're short-stacked right now financially speaking. &nbsp;<br/><br/>Fortunately, thanks for family friends, we've a wealth of skilled labor at our disposal which makes renovation more affordable than it otherwise would be. &nbsp;So the question is: Given a limited starting supply, does it make more sense to buy a small affordable single-family home to live in and renovate, both raise the value and add equity, or start by buying a multi-unit that we <em>wouldn't</em> live in but would collect income from to eventually use toward the acquisition of our own home? &nbsp;<br/><br/>I'm not sure if it's relevant, but we're actually more interested in living in the North Conway area than Manchester; it just so happens that Manchester has more mutli-unit properties available. &nbsp;If we bought a single-family, we'd prefer it to be in N. Conway. &nbsp;<br/><br/><br \><br \>9 replies Fri, 30 Aug 2013 20:59:00 GMT http://www.zillow.com/advice-thread/Which-is-wiser-start-with-a-multi-unit-or-start-with-a-single-family/509337/ 2013-08-30T20:59:00Z Offer on HUD home is higher than Appraisal http://www.zillow.com/advice-thread/Offer-on-HUD-home-is-higher-than-Appraisal/509402/ There is a HUD multi-family home appraised for $125,000 (obviously it is worth more) it is 203K eligible so it can go FHA. I put in a bid for $155,000. My mortgage lender is aware the home appraised for $125,000 and is willing to front the $155,000. I keep hearing conflicting reports:<br/><br/>View #1: that I have to come up with the difference between 155K and 125K ($30,000) in cash at closing<br/>View #2: If the mortgage lender is willing to put down the 155K at closing, that is fine. I won't need cash because my lender is backing me and will get the 155K to HUD.<br/><br/>Who is right?<br \><br \>3 replies Sat, 31 Aug 2013 13:02:00 GMT http://www.zillow.com/advice-thread/Offer-on-HUD-home-is-higher-than-Appraisal/509402/ 2013-08-31T13:02:00Z Hello,We are looking for a vacation cottage/home on or near a lake/pond in NH. Can you help?. http://www.zillow.com/advice-thread/Hello-We-are-looking-for-a-vacation-cottage-home-on-or-near-a-lake-pond-in-NH-Can-you-help/421593/ 9 replies Thu, 03 Nov 2011 13:02:00 GMT http://www.zillow.com/advice-thread/Hello-We-are-looking-for-a-vacation-cottage-home-on-or-near-a-lake-pond-in-NH-Can-you-help/421593/ 2011-11-03T13:02:00Z REO price drop day after offer http://www.zillow.com/advice-thread/REO-price-drop-day-after-offer/508954/ Yesterday my husband and I put an offer in for a homepath as an investor. The bones are good but the colors ie tile, tub, cabinets are not desirable, but its actually just what we are looking for. It has been on the market 6wks without a price drop. Prior to us submitting an offer my realtor called the listing agent (FYI we recently used both of these agents not to long ago when we bought our last investment) the listing agent said that there has been no offers. When my realtor told me this we discussed the first offer price. I was thinking 80% asking price and she was thinking 75% because of the weak interest in it. We went with 75% because our realtor is great at what she does and we trust her. The offer was submitted yesterday morning. Today I checked homepath and it had a price drop of 10%. Does anyone know if it was coincidental or is it a strategy to see if they can bring in more interest before countering us? Or if the price drop is because of a different reason. Thanks<br \><br \>4 replies Wed, 28 Aug 2013 10:56:00 GMT http://www.zillow.com/advice-thread/REO-price-drop-day-after-offer/508954/ 2013-08-28T10:56:00Z French Doors: Why They are Called Such (Part 2) http://www.zillow.com/advice-thread/French-Doors-Why-They-are-Called-Such-Part-2/508238/ The roots of French doors could be traced back to 16th to17th century when France was at war with Italy, which had been experience. After victories by the French over the Italians, the former brought along with them some Renaissance artworks as well as some Renaissance architectural ideas. Since the Renaissance style focuses on proportion and symmetry and places emphasis on light, the French incorporated this form and pattern on their doors. The French found out that a window-like door -- with glass panes extending for most of its length-- provides a perfect sense of regularity, proportion and illumination. This was a perfect setup for that time, since humans have yet to discover and generate electricity for household consumption. This means that even by the day, a house may become dimly lit. French doors and windows were seen as the perfect solution for this problem. Not only that French doors and windows allow more light to come into a room, they are also provide elegance and beauty, thus adding to the aesthetics of a single house.<br/><br/>A couple of history essay says that French doors were originally made from wood and wrought iron for added style. At first, individual glasses were embedded into the structure, which enables light to pass through unlike solid materials. French doors of today are made from a variety of materials like wood, PVC or aluminium. Whatever material a French door is made from, it does not lessen the fact that such door is practical and stylish. <br/><br/>Read the first part at: <a href="http://www.zillow.com/advice-thread/French-Doors-Why-They-are-Called-Such-Part-1/508237/">http://www.zillow.com/advice-thread/French-Doors-Why-They-are-Called-Such-Part-1/508237/</a><br \><br \>2 replies Fri, 23 Aug 2013 13:20:00 GMT http://www.zillow.com/advice-thread/French-Doors-Why-They-are-Called-Such-Part-2/508238/ 2013-08-23T13:20:00Z (Moved): French Doors: Why They are Called Such (Part 1) http://www.zillow.com/advice-thread/Moved-French-Doors-Why-They-are-Called-Such-Part-1/508241/ This discussion has been moved to the following location: <a href="http://www.zillow.com/advice-thread/French-Doors-Why-They-are-Called-Such-Part-1/508237/">http://www.zillow.com/advice-thread/French-Doors-Why-They-are-Called-Such-Part-1/508237/</a><br \><br \>0 replies Fri, 23 Aug 2013 13:44:00 GMT http://www.zillow.com/advice-thread/Moved-French-Doors-Why-They-are-Called-Such-Part-1/508241/ 2013-08-23T13:44:00Z (Moved): French Doors: Why They are Called Such (Part 2) http://www.zillow.com/advice-thread/Moved-French-Doors-Why-They-are-Called-Such-Part-2/508240/ This discussion has been moved to the following location: <a href="http://www.zillow.com/advice-thread/French-Doors-Why-They-are-Called-Such-Part-2/508238/">http://www.zillow.com/advice-thread/French-Doors-Why-They-are-Called-Such-Part-2/508238/</a><br \><br \>0 replies Fri, 23 Aug 2013 13:44:00 GMT http://www.zillow.com/advice-thread/Moved-French-Doors-Why-They-are-Called-Such-Part-2/508240/ 2013-08-23T13:44:00Z French Doors: Why They are Called Such (Part 1) http://www.zillow.com/advice-thread/French-Doors-Why-They-are-Called-Such-Part-1/508237/ As students, we may have been writing history essay about a number of people, places and events. However, history is not only limited people, places and events, but also to some objects we see in our daily lives. Some of these are French doors.<br/><br/>Have you ever wondered why French doors are called such?<br/><br/>A French door, also known as a French window, is a light door that has rectangular glass panes extending its full length. It is a very common as well as popular door since they provide additional illumination into a room and also enhances the overall appearance of a house.<br/><br/>Continue reading at: <a href="http://www.zillow.com/advice-thread/French-Doors-Why-They-are-Called-Such-Part-2/508238/">http://www.zillow.com/advice-thread/French-Doors-Why-They-are-Called-Such-Part-2/508238/</a><br \><br \>0 replies Fri, 23 Aug 2013 13:17:00 GMT http://www.zillow.com/advice-thread/French-Doors-Why-They-are-Called-Such-Part-1/508237/ 2013-08-23T13:17:00Z "As is" property fine on inspection, but now repairs are needed http://www.zillow.com/advice-thread/As-is-property-fine-on-inspection-but-now-repairs-are-needed/481873/ We are buying a bank owned mobile home in "as is" condition. It was dewinterized for inspection and our inspector noted a sag in the floor on the other side of a bathroom wall. The floor didn't appear soggy, but he suggested that the toilet on the other side of the wall may have leaked at one point and that the floor would need to be repaired at some point. The floor immediately around the toilet appeared solid and level, as if it had been repaired at the time of the leak. I went back in ten days later with a contractor to get some estimates and the toilet is clearly listing to the right (you can see a dirt line where it originally lined up) and the floor on the right is sagging and soft. I suspect (and the contractor with me agreed) a leak at the wax ring. Can we get the bank to pay for this, since it occurred after inspection? Either by getting the repairs done or by providing an estimate and requesting that amount at closing. Thanks!<br \><br \>7 replies Fri, 08 Mar 2013 13:14:00 GMT http://www.zillow.com/advice-thread/As-is-property-fine-on-inspection-but-now-repairs-are-needed/481873/ 2013-03-08T13:14:00Z Rental planning for beginners http://www.zillow.com/advice-thread/Rental-planning-for-beginners/479437/ <p>Greetings,<br/><br/>I have a one bedroom that is in a good location. I'm interested in turning it into a rental once I can. I'd like to research how to prepare to hang on to it, become a GOOD landlord and use the property to finance other properties.<br/><br/>Thanks</p><br \><br \>1 reply Wed, 20 Feb 2013 15:57:00 GMT http://www.zillow.com/advice-thread/Rental-planning-for-beginners/479437/ 2013-02-20T15:57:00Z How to Properly List Your Home For Sale http://www.zillow.com/advice-thread/How-to-Properly-List-Your-Home-For-Sale/479214/ When deciding to list your home for sale you should first decide what company you would like to list with. &nbsp;Most people make the mistake of putting the amount of commission the company charges as the main criteria for deciding which company to list with. &nbsp;Although commission is important it should not be your deciding factor. &nbsp;You should interview at least three companies before deciding who to list with. First make sure the company and the listing agent are experts in your local market area. Your agent should be a full time agent and should be easily accessible. Your agent should provide you with references and a detailed plan on how they will market your home and what their company offers for services. &nbsp;Listing your home with the agent that offers the lowest commission could cost you a lot of money in the long run. &nbsp;You may save on the commission amount but may lose valuable marketing time and money. &nbsp;An experienced agent could negotiate a better deal and may save you money and time on your investment. &nbsp;your agent should also discuss with you how you like to be communicated with wether its by email, phone or in person. &nbsp;Communication during the selling process is very important. &nbsp;Last but not least you should feel comfortable with your agent, and your personalities should be a good match to ensure a smooth process. &nbsp;&nbsp;<br \><br \>1 reply Tue, 19 Feb 2013 01:06:00 GMT http://www.zillow.com/advice-thread/How-to-Properly-List-Your-Home-For-Sale/479214/ 2013-02-19T01:06:00Z how do I upload pictures to my rental listing? http://www.zillow.com/advice-thread/how-do-I-upload-pictures-to-my-rental-listing/467823/ 1 reply Thu, 08 Nov 2012 20:51:00 GMT http://www.zillow.com/advice-thread/how-do-I-upload-pictures-to-my-rental-listing/467823/ 2012-11-08T20:51:00Z WHY DO BANKS TAKE SO LONG TO GET A PROPERTY ON THE MARKET? http://www.zillow.com/advice-thread/WHY-DO-BANKS-TAKE-SO-LONG-TO-GET-A-PROPERTY-ON-THE-MARKET/363118/ <p><strong><em><u>This mornings questions is: "Why do some banks take so long to get a property on the market after they foreclose?"<br/></u></em></strong><br/>When a bank buys the property back at the foreclosure auction, there are several steps it has to go through to get on the market. The first thing to know is virtually all banks do not sell their own properties. The use an asset management company to sell their properties. After the foreclosure, the home is given to this company to sell. The company assigns an asset manager for that area. That asset manager then assigns th listing to a broker who is on the approved list of brokers in that area.Brokers are ranked by past job performance and the amount of bpos's they have completed.<br/><br/>The next step is checking occupancy, if it is occupied, eviction begins. Once it is vacant the property is cleaned, appraised and then placed on the market and the current market value less repairs and damages.<br/><br/>Sometimes there are several reasons a bank may own a property for an extended perior of time without being able to sell it, the most common 2 reasons are evicting the current occupant or former owner. Some people know how to work the system and can fight an eviction for an extended perior of time, we just went through a 15 month eviction filled with out of state attorney mistakes not knowing the state law and not serving all the occupants.</p><p>The second most common is clearing the deed. For various reasons liens or other mortgages or discharges of former mortgages may have not been filed properly and the deed must be cleaned before it can sell.<br/><br/>The property is then placed on the market to sell.<br/><br/></p><br \><br \>8 replies Sat, 21 Aug 2010 14:28:00 GMT http://www.zillow.com/advice-thread/WHY-DO-BANKS-TAKE-SO-LONG-TO-GET-A-PROPERTY-ON-THE-MARKET/363118/ 2010-08-21T14:28:00Z Short Sale Vs. Foreclosure sale http://www.zillow.com/advice-thread/Short-Sale-Vs-Foreclosure-sale/417001/ Short sale Vs. Foreclosure sale.<br/>A foreclosure may be the cleanest option for the buyer, but a short sale is far better for a seller. Did you know a foreclosure can affect your employment security clearance, or future position in a company you are already working at?<br \><br \>10 replies Sun, 25 Sep 2011 16:10:00 GMT http://www.zillow.com/advice-thread/Short-Sale-Vs-Foreclosure-sale/417001/ 2011-09-25T16:10:00Z Ask our community...CAN I POST THAT MY HOME HAS OWNER FINANCING AVAILABLE O% INTEREST? http://www.zillow.com/advice-thread/Ask-our-community-CAN-I-POST-THAT-MY-HOME-HAS-OWNER-FINANCING-AVAILABLE-O-INTEREST/401774/ 10 replies Fri, 03 Jun 2011 22:59:00 GMT http://www.zillow.com/advice-thread/Ask-our-community-CAN-I-POST-THAT-MY-HOME-HAS-OWNER-FINANCING-AVAILABLE-O-INTEREST/401774/ 2011-06-03T22:59:00Z DO I NEED A NEGOTIATOR WHEN BUYING A SHORT SALE? http://www.zillow.com/advice-thread/DO-I-NEED-A-NEGOTIATOR-WHEN-BUYING-A-SHORT-SALE/364876/ <p><strong>This mornings question is: <em>DO I NEED A NEGOTIATOR WHEN BUYING A SHORT SALE?<br/></em></strong><br/><br/>When you are the buyer, you definately want to hire a buyer broker who is experienced in short sales, you can usually do so at no cost to you, they usually get paid their commission from the fee advertsised in MLS by the listing agent and paid at closing. This way you will have someone assisting you through each step of the short sale buying process.</p><p>The bank will have a negoiator on it's behalf, the seller should have a negotiator on their behalf, you really need someone looking out for your best interests. Short sales are not always easy, and there is things you can do to make them easier.<br/><br/>In brief you need to make sure:<br/><br/>Is the house priced at or near market value, too low of a sales price is one of the top killers of short sales.<br/><br/>Are there any other offer submitted. The banks like to work with 1 offer at a time, if multiple offers are in, it complicates the short sale and limits your chance for a honest try.<br/><br/>Make sure you have constant contact for updates... waiting is the hardest part...</p><p>Blog Updated Sept. 2, 2010<br/>Blog written by:<br/><br/>Scott Godzyk<br/>Godzyk Group Realty<br/><br/>Manchester NH</p><br \><br \>7 replies Thu, 02 Sep 2010 14:39:00 GMT http://www.zillow.com/advice-thread/DO-I-NEED-A-NEGOTIATOR-WHEN-BUYING-A-SHORT-SALE/364876/ 2010-09-02T14:39:00Z