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Stephanie McCarty's Advice

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  • 306 Contributions
  • 5 Best Answers
  • 42 Helpful

Stephanie McCarty wrote:

is it good to put a insurance on youre morgage?

Answer
Hi princcess94593.   Are you asking us if it is something available to cover you in case of job loss or something like that?   Or, are you asking whether getting a loan that includes PMI (private mortgage insurance) is good?   Two different things alltogether.  PMI may be required by your lender depending on the amount of down payment you are able to contribute to the purchase.   There is no option in these situations - you do it or you don't get the loan.   If you are talking about something else, help us  help you by explaining please.  thanks
February 16
(0)

Can buyer back out, who receives earnest money?

Answer
Sharks Fan.  Sorry to hear about your dilemma.   Yes, the buyer can always back out - we can't make people honor their contractual obligations.  However, there are penalties involved if contingencies have been removed, which in your case, it sounds like that is exactly what has happened.   If a buyer breaches their obligations under the contract then yes, they can forfeit their right to the earnest money deposit.   Talk to your agent and confirm for sure but it sounds like you, as the seller, will be entitled to the earnest money if the buyer simply walks away after contingencies  have expired and he has loan approval.  Good luck with it but I hope that you are able to salvage the transaction. 
February 16
(1)

How accurate are the Zestimates on here? Anyone ever give them thoughtful consideration in listing?

Answer
Even Zillow doesn't put much stock in the computer generated Zestimate. I don't even look at it because I have no way to know the basis of the number and it's not an appraisal.
February 13
(0)

Is it common for an agent to come back 5 days after contract is signed?

Response
How much are we talking about here?   If it's less than $1000 and you want to sell your home, assuming you are still happy with all other terms of sale, you can (a) pay for the inspection and move on - then you own it and next time a buyer needs it done, you have it already.   (b) talk to buyer about splitting the cost with you - buyers should do all inspections anyway.  If you are not happy or feel there are bigger issues with this transaction closing then (c) refuse to pay for it and let the buyer terminate or ante up.
September 17 2013
(0)

Buyer walked did not want to pay PMI the day of closing now wont release earnest money.

Answer
Lender should have explained PMI to the buyer obviously.   Sounds like a hot mess.   Talk to your listing broker - they should pursue earnest money for you.
September 17 2013
(0)

Small town home--showings but no offers. How do I get this house noticed??

Answer
Sorry but with all that you have already done, the amount of time on market, and the fact that you are getting people to see the property, what else could it be, except price for what is being offered.   Contrary to what many believe, selling residential real estate is pretty simple - price it right for what is being offered and for where it sits and it will sell.   If your average time on market in the area for similar homes is much lower than the amount of time you have been on market, it's time for a harsh reality check.   Sorry, but you asked.
September 17 2013
(0)

I'm the seller and am feeling as though I have no rights

Response
Dear Phoenix seller.   Your right as a seller is not to accept any of this.   If the deal was documented as cash and then changed, then the buyer is not following terms of the agreement and you certainly have rights.   Dig into the details with your "paid by hourly:" agent - don't get me started on that as agents are not supposed to be paid hourly, only by commission and only paid by their brokers.   In any event, you have rights but if you agree then you made a choice.   Take a look at it again, in detail.  If you are truly unhappy with the ways things have progressed, see what can be done to free yourself of this contract and get back on the market.  
September 16 2013
(0)

I am selling my house by owner. What items should I expect to pay for when it comes to closing cost

Answer
It depends on what is customary and usual in your market.   Many buyers will ask for a contribution to closing costs but that amount can vary.   Your taxes and any HOA fee will be prorated at time of closing.  You might be well served to reach out to a local REALTOR to ask what you might expect.  I am sure someone will be happy to discuss it with you. Good luck.
September 04 2013
(0)

Does the home sales pick up in the month of September?

Answer
Residential sales can slow during the summer but after school starts it usually begins to pick up for a short period of time until around beginning of November.
September 04 2013
(0)
 
 
 
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