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Home Selling in North Hills : Real Estate Advice

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Activity 4
Tue Aug 16, 2011
John Juarez answered:
Jeannette,

I reviewed the other questions that you asked in the last few days and I have to say, “WOW”! Don’t you have an agent? In one question, you state that no one is representing you! Scary!!!

The free help that you are trying to get on-line is no substitute for professional representation by an experienced Realtor.

Good luck! It looks like you will need it.
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Mon Aug 15, 2011
Matthew Bartlett answered:
Hi Jeannette,

I'm guessing your first question is dealing with how much you should drop the sales price due to the surprise issues with your fireplace. If I'm correct, then my answer to you is to base it off of any estimates to complete the repairs. You will be the only one who can determine if you will pay the entire cost of repairs yourself or ask the Buyer's to share in the cost of repairs.

You should also understand that every Seller says they wish to sell their home "as is", but that is not always possible. And there is a misconception that simply because the Seller and Buyer agree that the sale is "as is" that the Buyer cannot or should not make further requests after completing their property inspections. Your home is a perfect example because you discovered an unknown problem with your fireplace due to your prospective Buyer's property inspection or fireplace inspection. This problem is most likely going to fall under safety and soundness, so any potential Buyer is going to in all likely hood want these surprise repairs taken care of. Furthermore, their Lender and any other prospective Buyer's Lender for that matter, will require these repairs be made prior to close of escrow.

With regards to the smoke detectors. You as the Seller must by law prior to selling your home install smoke detectors and strap the water heater's in the home. You must also install proper carbon minoxide detectors in your home prior to sale as well due to recent legislation. Selling the home "as is" does not remove this obligation. Your Realtor should be able to explain what your City code requirements are regarding installation. If your Cities code requirements are more stringent than the State's then the Cities code requirements should be followed. Lastly, unless your Cities code requirements stipulate hard-wired smoke detectors, then it's my opinion, simple battery operated smoke detectors will be fine. If the Buyer's persist in this request, then request that the Buyer's themselves pay for their purchase and installation. You may also contact your Cities Code Enforcement office to determine yourself what is required of you regarding detector installation. Good luck!


Matt
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Wed Aug 10, 2011
answered:
The agents here have done a great job of answering your questions about negotiating with the buyers the costs of fixing/repairing the fireplace. However, be aware that the lender may require the fireplace to be repaired (they certainly will if there is any defect or structural issue). If that is the case, the fireplace will most likely need to be repaired before any lender will finance the property. Discuss this with your agent as you may want to keep these buyers as opposed to re-selling the property. Best of luck! ... more
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Mon Apr 28, 2008
Michael Barron answered:
Hi there JJ. I agree with what previous people have told you. You need to talk to your accountant. You also need tol earn all about being a landlord. There are some strict housoing laws out there for landlords. I woudld suggest you check out www.car.org
There are tax and some liability areras you need to be aware of.
Now is a great time to buy and if you wait a year the prices may fluctuate and you might lose out.
People ares till buying homes even in North Hills. If you would like to know the real facts, such as homes sold, active inventory, days on market averages. please let me know .

Kind Regards
Michael Barron
Realtor
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