http://www.trulia.com/voices/profile/Real_Estate_Pro-Knoxville_TN-312962/The latest answers submitted by Mary M. Kidwell to questions asked on Trulia Voicesen-ushttp://www.trulia.com/voices/Home_Buying/Can_a_realtor_you_are_working_with_sue_you_for_the-120622Answer by Mary M. Kidwell: Hello Chad, All of the other Realtors who have answered this so far have good answers, but like Vicki said, it depends on the individual contract. For a Realtor to sue you, there must be a signed Buyer Agency Agreement stating certain terms and then the agent would have to prove that you violated the terms of the contract. We know so little about your personal situation. However, as Realtors, we strive to do our personal best to uphold our profession. This includes doing things in an ethical an legal fashion, although most of us would agree that a lawsuit in this case just doesn't sound right and most of us would never sue or have rights to sue a Buyer who didn't purchase a home. If a Realtor does file a suit against a client, the Broker and the firm's attorney would be the first to know and the first to find out whether or not there is "legal cause". Sounds like this Realtor and her client should have broken ties long ago.Thu, 7 May 2009 06:15:48 PDThttp://www.trulia.com/voices/Home_Buying/My_wife_and_I_are_considering_moving_to_the_Knoxvi-109700Answer by Mary M. Kidwell: I know of a foreclosure on Douglas lake but it has so much structural damage that it will take between $75000 and $150,000 to make it a home of comparable value to homes in the neighborhood. So it depends if you are looking for a fixer-upper or move-in condition home. Most foreclosures are fixer-uppers and will require quite a bit more to bring up to code or be in move-in conditon. If you don't mind going further out from the city (30+ miles), you can find properties near or on the water for under $200,000 that might be in better condtion. Many Buyers feel that now is the time to buy a foreclosed home. However, in most cases, mortgage companies have not lowered the amount that is due on the loan and they want the best and highest offer. So, just because someone is being foreclosed on doesn't mean you will get a great bargain. Often, these homes have been damaged by the owners or renters and require lots of work. It all depends on how much equity the previous owners have in the home and how willing the bank is to get rid of the loan. Sometimes, you can purchase a home in foreclosure as a short sale. Basically, this is where the bank is forgiving some of the mortgage amount owed by the Sellers and they still have the right to sell the property at a lower amount than what is owed on the property. It is a bit complicated to explain here, but you can google 'short sale' and get all the info you need. A Realtor can locate these homes available as short sales if they are listed as such on the MLS. If you'd like more information, please feel free to call or email me. Sincerely, Mary Kidwell The Real Estate Market 865-357-7070 865-603-2706 marykidwell@comcast.netTue, 28 Apr 2009 21:53:33 PDThttp://www.trulia.com/voices/Home_Selling/We_are_first_time_home_buyers_and_have_just_been_a-116824Answer by Mary M. Kidwell: Hello, If you have not already signed a Buyer's Agency Agreement, you are free to find and work with another Realtor. We all have different personalities and some work well together and others just don't mesh. If you have an idea of an area in which you'd like to live, you can search that area or on my website, you can search for a certain neighborhood. Once you choose a better Realtor for you, that agent can send you daily updates on any or every area in the MLS system. Our system immediately allows us to view new listings when entered into the computer (there is no waiting whatsoever). A good Realtor will not push you into buying a home you are not ready for. They will work with you and listen to your concerns knowing that when the right listing comes on the market, you will be ready and feel confident about purchasing. Hope you find a great first home! You can call or email me if you think you'd like to work with me. Mary Kidwell The Real Estate Market 865+357-7070 865-603-2706Tue, 28 Apr 2009 21:32:08 PDThttp://www.trulia.com/voices/Foreclosure/How_do_the_foreclosure_homes_work_I_found_one_but-116828Answer by Mary M. Kidwell: I see that several agents have already given you a lot of good information regarding foreclosures and how to find out more about them. I have a link to foreclosures on my website that does not ask you to give more information. Of course, if you want you can ask for it but my site will give you enough information (including the MLS #) about the property and if you want even more, you can search many sites with the MLS #. Foreclosed listings already have a commission set (regardless of whether it is only the Listing Agent or a 2nd, Buyer's Agent involved) when listed and it is in your best interest to work with a Buyer's Agent when deciding to write a contract. A Buyer's Agent can keep you informed of new foreclosures and often has inside information regarding homes at risk of foreclosure but not actually in foreclosure. Find a Realtor that you feel comfortable working with and they represent you well. Here is a link to my website if you would like to see foreclosures in the area. Mary Kidwell The Real Estate Market 865-357-7070 865-603-2706 marykidwell@comcast.net marykidwellhomes.comTue, 28 Apr 2009 21:14:05 PDThttp://www.trulia.com/voices/Property_QandA/how_did_these_photos_get_on_your_web_site_and_who-105176Answer by Mary M. Kidwell: Hi Tammy, All homes listed by Realtors are on the local MLS which provides an IDX (Internet Data Exchange). This allows us to publish to other sites (many we pay for, many are free) our listings so we can "get the word out" about our homes. It is a form of advertising, but only to those who are searching for similar homes. To better serve our Sellers, we publish as many pictures as possible to the web; research shows homes with many pictures generally sell quicker and at a higher list/sell percentage than those with no pictures, few pictures, or pictures that make the home look like it needs work. Because so many sites have the ability to link to other sites, there are probably hundreds of sites that would have this listing along with all the pictures ( I have 2 personal websites and you can access this home on both of them, although I have not pulled it up yet). It is also on Realtor.com, Trulia, Zillow, backpage, and lots more as well as on all Knoxville Realtor's websites. The other information is provided by CRS (Courthouse Retrieval Systems) to Realtors and is also readily available to consumers on many sites. It is public record although as Realtors, we are not allowed to publish this info ourselves. Many Buyers often ask what the present Sellers paid for the home and can easily locate this info on the internet (because it is public record). If you would like more info, please feel free to email me at marykidwell@comcast.netMon, 30 Mar 2009 21:16:54 PDThttp://www.trulia.com/voices/Home_Selling/I_homeschool_my_kids_and_would_find_it_difficult_t-86967Answer by Mary M. Kidwell: Jennifer, I'm sure after reading Adelina's comments you are more reassured about showing your home. I have worked with several homeschool families in listing their homes and it always works out. There will be times when Buyers want to see your home at the most inopportune time and you have to decide whether or not it meets your schedule. I've had day sleepers who can only show their home during the daytime on the weekends or after 5:30 weekdays and families who have other needs like naptime, etc. Sometimes you just have to say no, that time won't work for us. In the case of out-of-town Buyers, it is often in the Seller's best interest to give the agent showing the home a day and time frame in which you could change your schedule to accomodate the Buyers. As you know, there is not always much advance planning in showing your home and sometimes you just have to make the decision that works for you. With regards to pets, the best option is to have them out of the home during the showing. I suggest to crate them if they aren't loud or agressive or put them in the garage if you don't have the first option. As Adelina suggested, make sure that your home doesn't smell like your pets. Your veterinarian can recommend options to rid your home of a smell if you do have one. If you have any more questions, you can email or call me. Sincerely, Mary Kidwell 603-2706 marykidwell@comcast.netTue, 10 Feb 2009 03:37:06 PSThttp://www.trulia.com/voices/Home_Buying/If_I_buy_a_home_without_a_realtor_do_I_still_pay_-86293Answer by Mary M. Kidwell: Hi Jenerra. I just answered another question you had. Generally, you never pay a commission to a Realtor as a Buyer and you can probably get this in writing from your Buyer's Agent. Buyer's Agents are paid by the cooperating compensation (cc) of the Listing Broker if they are members of the MLS. In our area, we have a going rate of 6-7% commission to the Seller depending upon the level of service. Then we factor into that the cc, generally we have a 60/40 split, with 60% going to the Listing Broker (not Agent) and 40% going to the Selling Broker. If it's the same Broker for both, then it's generally a 50/50 split. We have to factor in the fact that our Broker generally gets a cut (anywhere from 20% up to 75% depending on the rate each Realtor has agreed to with the Broker) unless you are a 100% Agent in which you pay a steep fee each month for your office and the services of the Broker. I have been a Realtor for 12 years now and the only time a Buyer ever paid a fee for my services was when we found a FSBO who flat out refused to pay more than $1000 in commission. My Buyers knew how hard I had worked for them (they relocated here) in locating and narrowing down properties as well as helping them with their transition to our city and decided to pay me an extra amount (although I had NA on the form of the Buyer Agency Agreement that detailed the commission they would owe me). I recommend to all my friends and family to be represented in every transaction.Thu, 5 Feb 2009 20:00:15 PSThttp://www.trulia.com/voices/Home_Buying/What_makes_a_realtor_MY_realtor_Is_there_a_signed-86297Answer by Mary M. Kidwell: My suggestion to you is to find a Buyer's Agent you feel comfortable with (it sounds like the other agent is trying to become one for you without offending you) and sign a Buyer Agency Agreement. In Tennessee, Realtors are required by law to let you know you can have full representation by a Buyer's Agent if you are purchasing real estate. You do not have to agree to be represented; however, if you choose otherwise (thinking you won't have to pay more commission), you may be in for a real awakening. As a professional, I could give you many more reasons to have "full representation" in a real estate transaction. It shouldn't cost you anything, since the Seller's signed a written commission agreement with the Listing Agent as they listed the home. Most Realtors work together with other Realtors to better serve both Buyers and Sellers for a split commission that has already been negotiated with the Seller by the Listing Agent. Most companies use the MLS split and ensures "cooperating compensation" (cc) between companies or a Seller's Agent and a Buyer's Agent. Realtors realize that most of their listed homes are sold not by themselves but another agent either from their own company or another company. So, when commission rates are set, we generally factor into our net amount the estimate of the cc. As a Seller's Agent, a Realtor is, by law, required to "be loyal to the Clients interests by placing those interests before all others in negotiation of a real estate transaction and in other activities ...". This in essence, means cooperating with another Broker in splitting the commission. Yes, this does mean that the Listing Realtor won't make as much as he or she would if a Buyer's Agent wasn't involved, but we are each other's lifeline. And most of us are trustworthy, hardworking and ethical Realtors who believe that working together will make our profession a more reputable one and make our business more lucrative over time. Consequently, a Seller's Agent is just that; they are bound to their Seller and don't have to give you any information that could be beneficial or helpful to you. A Buyer's Agent will represent you and guide you throughout the entire transaction, in most cases for free. If I were you, I would find one (maybe the one who has been carefully trying to educate you about the process) as soon as possible. Mary Kidwell The Real Estate Market 865-603-2706 865-357-7070 marykidwell@comcast.net marykidwellhomes.comThu, 5 Feb 2009 19:39:22 PSThttp://www.trulia.com/voices/Financing/I_have_found_a_house_that_I_like_but_now_I_need_t-49113Answer by Mary M. Kidwell: Donna, First, ask your family, friends, neighbors, etc. to recommend a local mortgage agent. Second, compare a few agents by asking them to send you a Good Faith Estimate on an FHA loan by email or fax. You can let them know you are looking for the best rate and closing costs. Next, make an appointment with one of those agents with the best deal to make sure you feel a good rapport with them. This is where we like to weed out the good from the bad, and unfortunately, there are still a few who give mortgage agents a bad name. A good mortgage agent will not promise you everything you ask for; they will let you know right away if this loan should work for you. Make sure to find out from the agent how long it might take to go through the entire process, all the costs that could be required up front or tacked on to the loan at the end, and any problems or difficulties you might incur going through the loan process based on your work history, credit report, or past debts. After your initial meeting, you should feel that you can trust the agent to provide services through closing. It is imperative that you give the mortgage agent all necessary information pertaining to your creditworthiness. I have had clients lose homes because they "forgot" to tell the agent about the student loan they defaulted on, or the furniture company they still owe several thousand dollars to, etc. FHA has a website that you can go to if you have specific questions about an FHA loan.Wed, 30 Jul 2008 20:43:36 PDT