Profile picture for Dolores DeMers

Dolores DeMers

Premier Agent

Associate Broker, NM Brokers (11 years experience)

Specialties:
Buyer's Agent,
Listing Agent,
Consulting,
Property Management

Advice

  • (15 Contributions,
  • 0 Best Answers,
  • 4 Helpful)

Contributions are sorted newest to oldest.

if I get asking price and anticipate I might get a few offers over asking am I allowed to see the

Answer

1. If you have listed with a real estate professional, and you have received an offer that is your asking price, you will owe a commission even if you decide to refuse the offer.  I am not aware of any state where this is not standard practice.2. If you receive an offer that is your asking price, regardless of whether you THINK you will be getting a few others over what the listed price is, you need to respond to the offer by the deadline given in the offer.3. If you receive multiple offers on the same property, you need to give notice to all the potential buyers of what your terms are for an acceptable offer and give them a deadline to respond.

  (0)
My husband is convinced we should have an appraiser BEFORE preparing our home for sale. Wrong?

Answer

If you had very few comparable properties in your area that had sold in the past few months that made it very difficult for your Realtor to come up with a range of value for your property, then yes you should have an appraiser  evaluate your property.  If there are plenty of comps, then do not spend the money on an appraisal at this time.  If your husband really wants to pay for an appraisal, wait until you have an offer from a qualified buyer and then the two of you can offer to cover this cost for your buyer.In my area, an appraisal can cost up to $500 for a basic house.

  (0)
Do black widows eat termites?

Answer

Black widow spiders build rough scraggly webs above ground in areas where they won't have a lot of disturbance, but WILL have good opportunity to snag cockroaches and other crawling bugs.  Subterranean termites like to be in dark, moist areas.  The two species are not terribly interested in each other's habitat.  I am NOT an entomologist, but I really don't think the black widows are responsible for making the termites disappear into hidden crevices.  It is possible you have brought a lot of light into the area where the termites were and that is unacceptable for them.It would be in your best interest to get a professional pest control company to investigate--someone with real credentials.  Just because you dealt with an unscrupulous company before doesn't mean they are all like that.

  (0)
Managment company

Answer

You can google "property managers in Indianapolis" or "homes for rent in Indianapolis" and see what pops up.  Of course, you'll want to refine your search to the neighborhood where your homes are located. From there, you can screen the companies and the properties they represent until you narrow it down to a few to interview.The internet is a great equalizer and time saver.

  (0)
Should I sue my home inspector?

Answer

In the state of New Mexico, the home inspector can only inspect what is visible.  The inspector cannot move furniture, lift up tacked down carpet, create new openings in walls or floors to see what is behind or underneath.  An important question is whether the inspector should have been able to interpret a bad construction job given the appearances of what was visible at the time of the inspection.  Usually you can see when things are not looking right when you visit a property, though some sellers are very wily at hiding things.I think it behooves you to revisit the property disclosure completed by the Seller you purchased the home from to find out if s/he is the one who made the alteration to the home.  You may need to go to your local governing authority to find out who pulled the permit to build the addition.  If no permit was pulled, then you have a whole new can of worms to deal with.

  (0)
"Walk-in" closet vs. Reach in

Answer

The more functional a home is, the more marketable it is.  The closet you have now creates difficulty to get to all the usable area.  Definitely open up the walls and replace with high quality, beautiful doors, French or bi-fold.  When it is time to resell, market the "expansive closet space."  By the way, many walk in closets are walk in, back out closets--they have less usable space than the reach ins. Having a reach in closet is not a bad thing, but having difficult access in your closet is.

  (0)
The term TLC ?

Answer

When I see deferred maintenance, but not structural or mechanical failure, the house needs some TLC. When I see dated interiors, or rough landscaping, the house needs some TLC.To me the difference between TLC and fixer upper is whether you need to pull a permit or a license to improve the property.

  (0)
Moving, should I sell or rent my house

Response

Regarding making the decision to convert your home to a rental in hopes of hanging on to it until you have positive equity, you need to consider several things.  First, what the rental market will bear?.  Will it be worth your while to hang on to the house while you have various people living in it who may or may not take care of it?  The wrong tenant can devalue your home very quickly.You will have to transition your thoughts from being a home owner to being an owner/investor.  You need to have enough money in reserves to pay the mortgage, interest, PMI, and taxes in the invent the house is unoccupied for a spell.  Who is going to look after the property when you move out of the area?  Are you going to manage it long distance, or are you going to hire a property manager?  If you hire a property manager you need to know how much the management costs will be.  You must set aside funds for emergency repairs, because they WILL happen.  Have you talked with your financial advisor about the benefits/risks of converting your home to a capitalized investment? What is your tolerance for the risk of investment property?  Are you capitalize and do you have the mindset for it?Regarding refinancing, you need to talk to various lenders to see what the best financing products are that would be a benefit to you.  If you refinance, you need to do it before you market the home as a rental.At the end of the day, it may be in your best interest to go ahead and sell it so that you don't have to deal with the issues of owning a home that you are going to have to pay others to maintain.

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