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Melanie and Jenny's Advice

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  • 6 Contributions
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  • 1 Helpful

Melanie and Jenny wrote:

Most of comments from our house showings indicate small backyard as the reason of rejecting the hous

Answer
The feedback saying the backyard is too small could be the only reason they can come with as it is obvious.  The bottom line is.....someone will like the house and yard for all it offers.  It only takes one buyer!  Price is important too so making sure the home is presented, marketed and priced well will bring that happy buyer to the doorstep!
October 10 2013
(1)

short sale

Answer
In California a seller must sign several advisories and short sale addendums. There are very specific guidelines and normally they amend what a "normal" contract to buy or sell says. In fact, we make it very clear if anything should happen, the seller can back out. They may be able to recoup and keep the house. In our addendums it clearly states the seller msut agree to the lender's short sale terms.  It is always imperative to talk to your attorney too.  Our contracts and addendums for short sales in California are very clear.
October 08 2013
(0)

Who sets the closing date? And does this make a difference on a Short Sale or regular sale?

Answer
The seller's lender in a short sale will dictate (yes, they do dictate) what date a home is close on or before. A buyer in short sale has to have patience and be willing to get the wheels going as soon as the short sale is approved. Even though a buyer would like to say I will close on this date, until there is approval it is all up in the air.  Patience is a virtue and the willingness to be flexible will make you successful. IF you can close within the time frames you are doing great!  If not then get the lising agent on your side to convince the lender why more time is needed.  If it is reasonable, the seller's lender will normally ok it. 
October 08 2013
(0)

Can a relative do a short sale on a reverse mortgage?

Answer
If you mean the relative is a Real Estate Agent, most banks are very explicit about any relationship between the agent and the seller.  They have you sign documents that state that this is "arms length".  IF you mean can a owner with a reverse mortgage do a short sale?  Yes it is possible, however always speak to your tax advisor and attorney for advice.  As Real Estate Agents what we do best is get your home sold, if the home is short for any reason there are more hoops for us to jump through to get it done, but it can be accomplished.  Each situation is different, hence why it so important to get educated so one can make the best decision for themselves.  Every state is different so do your research.
October 08 2013
(0)

high voltage lines

Answer
In our neck of the woods, we have found that a deal will come to a halt if the appraiser and lenders calls the lines being too close to the house.  So even if someone is willing to live there, depending on what they are, how big, etc certain types of financing may not work, which then narrows the buyer pool. We have lost deals because of the "fall line". 
October 08 2013
(0)

how long is a typical listing period? My Realtor strongly prefers 6 mo., but idk if I like her

Answer
We typically come to an agreement with a 3-4 month listing agreement.  It may be longer if it is a short sale, then we agree to 6 months.  The bottom line is, if you are the least bit uncomfortable interview other agents.  Sometimes you have to use your gut when making decisions along with other criteria.  That said....a longer agreement may be the "norm" for your area and the time on the market for the average sales.
October 08 2013
(0)