Bill McInerney's Q&A

The other option is for you  to retain and pay  a professional real estate licensed and experienced appraiser. Don't guess and tax assessor's don't set the standardsI would recommend that you determine the estimated "closing cost" in your offer.

You can, but it brings up many questions. Why does the home owner desire this arrangement?  Why do you? Can't sell, property over-priced?Don't have the downpayment or poor credit?How will you determine and agree on the the future price?Will the owner require a non-refundable deposit if you don't buy? Will  a portion of the lease payments go toward the purchase price?Will it be a short or long term  lease?  I recommend either you just lease or just purchase.Hope this helps.   

Price it right and market it properly and agressively. What is the real, factual competition to your home?Are you related to the Realtor?   Does that agent have the proper experience and experise?Price it right;  with the old or new REealtor.

Retain a  highly qualifed and experiended local realtor. This is no market for  the "Do-it-your-self" folks.Look at the newspapers, listen to the  radio and understand we are in very tough financial and econmic times.  Buyers are savvy and sharp and won't waste time with an overpriced home.Play it smart and get the job done by a professional.

Price, price and price.  It isn't selling becase buyers are finding better home values elesewhere.   Face facts. This is a tough market and fantasy pricing doesn't work.   

You alwsys get what you pay for. If you are ill do you demand a discount from your doctor?   Many discount  lawyers have former clients who have never won a case.Maybe  the tenant know something that you don't?  Perhaps your home price is being devalued because your rent is too low?

alveolus,  Get the best, highly qualifed and most experienced appraiser you can find.Today valuation is everthing.   Real estate appraising takes sonme serious education, licensing plus expereince, often times sadly lacking in many real estate agents.Some agents attempt to 'snag" a listing  by offering  a fantasy price to the owner. In this market beware of  irrational optomism!Hope this helps.

Pepper02,Yes, people today are really selling their homes because buyers are really purchasing homes!Regardless of what media screams the market is not all that bad or negative.    

Valeriebee,Before you do anything, I recommend your first check with your local Building Department or Building Inspector to see if an additional bedroom would be allowed.If you desire to sell your home quickly I would recommend you invest time and effort in preparing the home for sale; such as  de-clutter, clean and srpuce it up, paint if necessary.Communicate  with local Realtors to properly price the home for a quick sale. Hope this helps

Mguns,What is your goal?  Are you thinking of selling?  If you are serious I would strongly recommend  you retain a well qualifed, highly experienced and objective  real estate appraiser and  in your specific geographic location.Today, proper valuation is critical.    Hope this helps,Bill McInerney