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Home Selling in Ohio : Real Estate Advice

  • All358
  • Local Info13
  • Home Buying208
  • Home Selling39
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Activity 1,049
Fri Feb 16, 2018
Hollerback1992 asked:
Hello I am starting the process of selling a house. Overall the house is in great shape the only thing is, is I have a damaged sewage line cause by tree roots. I have already put a great…
0 votes 0 Answers Share Flag
Tue Feb 13, 2018
Lucien Solution answered:
This is an old question, but people still look at the answers to these...since the answers are all 9 years old and I only see one that I can say makes sense (the guy from FL)...here9;s my nickel's worth. First off, I'm an investor, not a real estate agent. I buy, fix up and rent out or flip. If my son asked me what to do given this question as posed, here's what I'd tell him:
Never ever do any remodeling to sell a property. Repair, yes. Buyer behavior 101, everyone wants a discount, even if they don't deserve it. Plan for that with your pricing to start with.

ROI is an essential evaluation and in all instances, you the seller will take a hit whether you do the fixes, or the buyer does them. The 2018 ROI across all projects from mild to wild is 47% to 98%. Average is 56%. To get the 98%...replace and old garage door and put the house up for sale the next day. Anything else you do will return less dollars over what is spent. For a Roof replacement....the ROI in Cleveland market is currently 65%. Translated, you spend $20K and the increase in sale price might go up $13K. I stress 'might'. You just lost $7K at best. Better to give the buyer a discount or allowance of $5k...less risk to both of you. It doesn't make financial sense for you to give a buyer a twenty year new roof warranty on your dime unless you're building brand new homes to sell. If there was a repair needed, make the repair before sale and keep it to yourself. Discuss if asked about it specifically, but don't make a big deal about it. A repair is good bang for the buck...a re-roof isn't unless you're the one to benefit. If someone offers full ask or above contingent on you putting on a new roof....have them get three estimates....bring them to you and start the negotiations from there. Consider: if your roof was ten years old and not in disrepair, would there even be a discussion? NO. So again, why should you be held to providing a brand new roof on a used house?

Each year in January, I obtain a free market report from Hanley Wood that presents the ROI for home projects based on the most current market surveys. That's where I picked out the percentages I referenced above.
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Mon Feb 5, 2018
Alan May answered:
Thu Feb 1, 2018
Mark Wilson answered:
A total commission of 6% is typically asked for by “full service” Agents working for the big national real estate firms in Ohio. 70% of Sellers list with the first Agent they speak to, and we find that most Sellers who agree to pay a full 6% commission do not realize that real estate commissions are NEGOTIABLE!

The national average total real estate commission in 2015 was 5.26%.

In Ohio, you will find the following real estate commissions charged:
Typical Asking Commission: 6%
Competitive Commission: 5.0%-5.5%
Very Competitive*: 4.5%-4.99%

* 4% commission can be negotiated on multi-million dollar properties

IMPORTANT...

Real Estate Commissions are split between the listing Agent (who works for you to sell your home) and what will be offered on the MLS to any Agent that brings a Buyer to buy your home. In a typical 6% total commission, the listing Broker is paid 3% and 3% is offered on the MLS to all Agents working with Buyers (so they can see what they will earn if they bring their Buyer to your home and complete the sale).

When you meet with your listing Agent, also remember that, unless they are a “Broker/Owner”, they will have to split their commission with their employing Broker. High producing Agents can work up to getting 90% of the listing commission from their Broker, but typically less experienced Agents may only receive 50% of the listing commission.

AGENTS ARE WILLING TO BID THEIR COMMISSION RATE TO GET YOUR LISTING...

At ListingBidder.com, we first negotiate on your behalf a competitive real estate commission structure with HIGHLY EXPERIENCED, HIGHLY RECOMMENDED Agents who know your LOCAL market (even YOUR NEIGHBORHOOD); each ready to bid for your business. These Agents are not just ordinary Agents as many of them are broker/owners and they have the best ability to negotiate their commissions and be competitive, in part because they do not have to share their listing commission with the brokerage firm. This is a direct benefit to you and will save you thousands of dollars in real estate commission fees over the typical fees in Ohio.

I hope this information help and good luck to you in selling your home!
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0 votes 11 answers Share Flag
Wed Jan 31, 2018
Bruce Arnoff asked:
Mon Jan 29, 2018
Mary C answered:
Hello,

Thank you for reaching out. Please know that when a property is inactive (off market) on Trulia, we nor the consumers do not have an option to update the photos. However, we do have the ability to remove the photos, street view and property description from our display. Let me know by replying to the email I have sent you. Rest assured if you are intending to sell your home, you or your agent (if you choose to use one), will have the ability to create a new listing with new photos, and submit the listing to Trulia. The new listing will override the off market property page with the outdated photos.

Thank you for using Trulia!

For additional support please feel free to reply to this email or visit either of the pages below:

Contact Us: http://www.trulia.com/help/ask/
Help Center: https://support.trulia.com/hc/en-us

Mary
Consumer Care Advocate
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Fri Jan 26, 2018
Patrick Flynn answered:
Good article on why we get these annoying post cards in the mail, what they mean and what to do with them.
0 votes 5 answers Share Flag
Wed Jan 24, 2018
Terry answered:
We are being sued by purchasers 15 months after closing stating that we lied about the condition of our house and claim that there was asbestos, mould and termites throughout the house.
We had a home inspection done prior to the sale which the purchasers accepted.
Are we liable?
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0 votes 12 answers Share Flag
Thu Jan 18, 2018
Mary C answered:
Hello,

I have sent you an email regarding this issue. Please reply with the complete address of your property so I can further investigate.

Thank you for using Trulia!

Mary
Consumer Care Advocate ... more
0 votes 1 answer Share Flag
Mon Jan 8, 2018
Scott Godzyk answered:
It depends what was in the contract you signed. If it says 2 and you signed it, then yes. If it does not, then it is a conversation with your agent you need
0 votes 1 answer Share Flag
Tue Dec 26, 2017
Mary C answered:
Hello,

To post your home for sale by owner on Trulia, click the link below and select Submit listings for sale.
http://www.trulia.com/submit_listings/

You will be redirected to our partner site, Zillow. Once you activate your listing on Zillow, it will appear on Trulia within 24 hours.

For future reference, you can feel free to contact us about this type of inquiry through our contact form here:

http://www.trulia.com/help/ask/


Thank you for using Trulia!

Mary
Consumer Care Advocate

Contact Us: http://www.trulia.com/help/ask/
Help Center: https://support.trulia.com/hc/en-us
... more
0 votes 1 answer Share Flag
Sun Dec 3, 2017
Dixie answered:
Oh absolutely.

We are talking about market value. This is defined as what people are willing to pay for the house. The more desirable the house the more people will pay. Everyone wants those beautiful hardwood floors. Therefore people are willing to fork over more for a house that has hardwood floors.

As flippers/cash buyers, when we buy a house with carpeting we always get excited to find hardwood floors underneath the carpeting!
... more
0 votes 13 answers Share Flag
Fri Dec 1, 2017
Scott Godzyk answered:
There are some variables. Are the inspectors licensed? Are they licensed electricians? In a general inspection things can get mixed. If the buyer is insisting on repairs, the key decision is having a licensed electrician look at the issue. ... more
0 votes 2 answers Share Flag
Fri Dec 1, 2017
Bbryant9094 answered:
does legitimate buyers take pictures of the electric switch box in your home?
0 votes 22 answers Share Flag
Fri Dec 1, 2017
Christine Pappas answered:
Changing out the granite backsplash may or may not help the look of the house for the next buyer - it depends on what it looks like. Plus, when are you planning on selling? If you are selling soon, than consider how much you're willing to spend to change out the backsplash. The overlook of a house may not increase a home's value, but it can increase the desirability factor and help it sell faster.

Christine Pappas
RE/MAX Results
440)497-0631
NEOhioHomeInfo.com
... more
0 votes 1 answer Share Flag
Thu Nov 16, 2017
Alan May answered:
I would have no problem calling the inspector and asking him to come back out. It's possible he "flipped a simple switch" that's causing your furnace to malfunction.
0 votes 1 answer Share Flag
Mon Nov 13, 2017
Mary C answered:
Hello,

To post your home for sale by owner on Trulia, click the link below and select Submit listings for sale.
http://www.trulia.com/submit_listings/

You will be redirected to our partner site, Zillow. Once you activate your listing on Zillow, it will appear on Trulia within 24 hours.

For future reference, you can feel free to contact us about this type of inquiry through our contact form here:
http://www.trulia.com/help/ask/

Thank you for using Trulia!

Mary
Consumer Care Advocate

Contact Us: http://www.trulia.com/help/ask/
Help Center: https://support.trulia.com/hc/en-us
... more
0 votes 1 answer Share Flag
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