Hello Liz: Clients here seem to think the added "protection" and confidentiality offered by the buyers agency agreement is a plus for them. Older clients need a little more explanation of it as it is very unfamiliar to them. Still, the abovementioned protection does resonate once they have a chance to review the document and ask questions. It's just a bit of fear that must be dispelled and explanation/education on the document does that. Just mentioning that it is "mandatory" or "the law" actually does nothing to dispell the fear...understanding the terms of it and making sure that buyers know that they can sign for just one day really helps!... more
Here in Virginia it is possible to rent a home that is "on the market" for sale. In fact, some owners might think that rental income is better than no income at all if the home remains vacant. It pays to ask a licensed realtor to contact the homeowners and find out of a leasing option is possible. Then it is between the owner and the person leasing to work out the details of contract....what happens if an offer to purchase comes in, etc.
The home should be listed as "tenant occupied" in the local multiple listing service and terms to see the house should be clear in the rental contract. This can be a win-win for owners and renters. Just be sure that you have a real estate agent assisting you as you approach the owner/listing agent so that there is someone representing your interests.
Connie McMaugh, Dockside on your side....... more
If it is heated living space it can be added as sq footage. An appraiser, or realtor, will assign different values to finished space depending on where it is. Basement finished space has less value than the space above ground, for example.... more
I have noticed prices in Mineral/Louisa steadily dropping. Might this also be in relation to the most recent earthquake, considering the epicenter was in that area? I am very hesitant to even consider properties in that area, though most of the type of home I seek (2+ bedroom, 2 bath, garage on 2+ acres) happens to be in or near those areas.... more
The most recent sale was for a lot with a deeded boat slip. It sold for $70,000. Access lots anywhere on the lake that do not have deeded boat slips sell for less and take considerably longer to sell. One of the communities here at Lake Anna that does not have enough slips for all of the access lots allowed owners to buy multiple lots at one time. These owners have since sold them for thousands of dollars more than they paid for them. Lots that originally sold for $12,000 have sold for as much as $20,000. This gives you some idea of how valuable a deeded boat slip is and why those lots that have them sell faster and for more. Wish I'd seen your question sooner.... more
Mary I have seen this done before usually the agent has let his license expire or some other reason no he should not have left the keys outside of a lock box. I did this once but only after talking with the owner and putting the key where he wanted it . This agent shows no respect for the home owner, his property, or the agents reputation
I work the mineral area and if you need a good realtor call me... more
If the property has already been foreclosed on by the bank, then the answer is zero - the house was taken back and the mortgage cancelled.
I list and sell REO (Real Estate Owned) properties for banks and I can tell you that foreclosure properties are sold "as is" and are put on the market at a discount based on their overall condition. Besides the shortfall from the mortgage, the banks also have about $30,000 in legal expenses to foreclose on a borrower so they reselling the property at a significant loss. But the total loss is not what the resale price is based on - it's the fair market value less a discount to get the property sold in less than 90 days.
Wayne Hare, e-PRO RealtorÂ®