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Home Selling in Greenville : Real Estate Advice

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Activity 7
Mon Sep 16, 2013
Rick Creel answered:
Here is a recent article I just finished on that Subject:

Free Is Not Always Free
Help For FSBO’s (For Sale By Owner’s)
Cashiers, NC, September 16, 2013: Many Homeowners today have turned to the Internet in an effort to sell their homes and to try to save on paying commissions. There are many sites that allow you to post pictures and list your homes. There are also sites that offer free information that you can use to help sell your home.
www.fhfa.gov is one such site that allows you to see the House Price Index. There is even a calculator where you can enter the cost of your home at the time of its construction and see how its value may compare to the current quarter. You can also visit www.buysellhomescashiersnc.com/registration/ to request a free evaluation of your home, see current market status in this area, and to get real time updates as they hit the market. Just remember, free is not always free.
I recently visited several web sites for FSBO’s. While you can put your information on some sites for “free”, if you want it to be seen in the local MLS you can expect to pay around $700. Some sites then offer other services which goes through local brokers. These services can include advertising, a Comparative Market Analysis, and the list goes on. While you can pick and choose which services you want, by the time you finish and still pay a commission to a selling broker, you could have more invested than if you’d hired an agent. Think, too, about advertising.
Every Brokerage knows that marketing is the biggest part of selling a home. Now, if you are very good at marketing, especially on the internet, and know about on-page optimization, site structure, and the likes, then you know it takes more than just putting up a listing or creating a web site to be seen. For example, I recently researched 2 local properties that are FSBO’s. These owners listed them on FSBO type sites. I looked for 2 days to try to find these properties as a regular search. I could not find them and I knew what I was looking for. Of course, the owners know where their listing is located, but what good is that to someone that is doing a search?
In NC, most buyers pays no commissions. A Selling Broker will always serve their clients best interests and do all the leg work. As a result, it would lack sound reasoning for a buyer to forego having a Broker. Also, Brokers spend a lot of money advertising and making sure the properties they have listed are in front of as many eyes as possible. According to many statistics, most FSBO’s eventually turn to a Broker in the end. Why? Because Brokers have the resources for marketing and they have buyer clients, thus their commissions. You might say it’s a numbers game. The more people that you can get your home in front of, the better the success rate.
We all know the current economy has not been the best. This has been especially true the in the housing market. Still, homes are being sold. However, it takes a strong marketing plan and a knowledge of the current market to make this happen. So, ask yourself, “How long am I willing to keep trying to sell my home on my own? How much am I willing to spend to market my home? What happens if I can’t sell my home?” While we all want to save money, there may be better ways we can make money.
If you have the time and resources to invest in selling your home yourself, there is a possibility you may be able to save a little. But the time and effort you spend is costing you. Remember, Free is not always Free.

ABOUT THE AUTHOR: Rick Creel has been in marketing for over 35 years. He has helped local businesses increase their revenue and improve employee training. He now serves with Hattler Properties as a Broker in an effort to help stimulate the Real Estate market in this region. You can also learn more about Rick at:
http://www.hattlerproperties.idxco.com/idx/8400/bio.php?id=9&agentHeaderID=9 http://www.buysellhomescashiersnc.com/about/
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Wed Jun 6, 2012
Dave Kamphuis asked:
Tue May 10, 2011
Yvette Lewis asked:
Thu Aug 26, 2010
Jesse Allen answered:
Hi Mevans 14,
This is a good question and I have had this same question several times this week! Just to give you a few facts... your first payment will be due when you file your 2010 tax return. Here are a few rules that apply for you not haveing to make payments:
However, some exceptions apply to the repayment rule. They include:

-If you die, any remaining annual installments are not due. If you filed a joint return and then you die, your surviving spouse would be required to repay his or her half of the remaining repayment amount.
-If you stop using the home as your main home, all remaining annual installments become due on the return for the year that happens. This includes situations where the main home becomes a vacation home or is converted to business or rental property. There are special rules for involuntary conversions. Taxpayers are urged to consult a professional to determine the tax consequences of an involuntary conversion.
-If you sell your home, all remaining annual installments become due on the return for the year of sale. The repayment is limited to the amount of gain on the sale, if the home is sold to an unrelated taxpayer. If there is no gain or if there is a loss on the sale, the remaining annual installments may be reduced or even eliminated. Taxpayers are urged to consult a professional to determine the tax consequences of a sale.
-If you transfer your home to your spouse, or, as part of a divorce settlement, to your former spouse, that person is responsible for making all subsequent installment payments.

Another important thing to remember is that "profit" does not mean you get to claim all your expenses from the sale of the home to determine this. Some expenses like property taxes and insurance can not be used as closing cost when determining the "profit" from the sale of a home. Your realtor fees can be used!

Most important to remember is always consult a tax expert before entering into the sale of your home! For more help visit us at www.JesseAllenHomes.com or for more tax info visit www.irs.gov
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Tue Apr 20, 2010
Keith Sorem answered:
You will probably receive a refund of your taxes, look at the HUD 1 or settlement statement.
It will probably take a couple of months. You probably paid property taxes due April 10th, so the statement will explain how these were apportioned. ... more
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Thu Aug 14, 2008
The Tingen Team answered:
Shelle,
Lynn is correct...you should immediately consult a real estate attorney. There may or may not have been a Realtor involved...not enough information given. But in the overal scheme of things, I'd be more concerned with the way it was accomplished.

It would appear that a quitclaim document has been executed with a forged signature, if neither you nor your husband have signed one or given a specific power of attorney enabling someone to sign on your behalf. Laws in diifferent states vary, but that would be the logical conclusion if it had taken place in my home town, Greenville, NC. The quitclaim would also have to be properly notarized here to be enforceable. See an attorney and it shouldn't take much time at all for him to follow the trail at the courthouse. It should all be recorded and on file, unless your state is radically different from mine.

Basically a quitclaim deed in Greenville, NC signs over any interests or ownership a person has, or may have, in a property. A real estate attorney will be able to advise you concerning your situation. Best of luck. Pistol Tingen
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Wed Aug 13, 2008
Don Tepper answered:
Consult a lawyer. This isn't legal advice. However...

Whoever quitclaimed the property can only transfer any ownership rights he/she holds.

For instance, I could quit claim the Golden Gate Bridge. It'd be perfectly legal. Problem is: I don't own it, so while I'd be "quitting my claim," I have no ownership rights, so none would be transferred.

Perhaps more relevant, if I owned a property along with someone else, I could quit claim my ownership rights to someone else. However, my action would in no way affect the ownership rights of any of the other owners of the property.

The questions your lawyer is likely to ask are: Who quit claimed the property, and when? Again, this is not legal advice. However, if your spouse's dad had written a will giving the land to your spouse, but his dad quit claimed the property to someone else before he died, then he transferred ownership. So there was really no land for your spouse to inherit. On the other hand, if his dad willed the land to his children and their spouses (let's say two sons and their two wives), then his dad died, then the land would go to all four individuals. The other son or the wife could quit claim their interest to whomever they wanted. But it wouldn't affect your interest.

Again, that's not legal advice, just a hypothetical example. So: See a lawyer. Be prepared for the questions I mentioned above.

Good luck.
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