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Home Selling in 94558 : Real Estate Advice

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  • Local Info1
  • Home Buying6
  • Home Selling6
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Activity 6
Thu Mar 9, 2017
sebastien.jaunin asked:
After 2 years I am selling my home. We had an inspection and the inspector gave to the buyers the inspection report that we had when we bought the house.
The inspector couldn't find…
0 votes 0 Answers Share Flag
Thu Aug 18, 2016
Neil Roxas 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!

Neil
Consumer Care Advocate
... more
0 votes 2 answers Share Flag
Fri Jan 18, 2013
Salim Vasani answered:
I second Charlie. You can do it with postlets.com. However, ask your realtor to do it. It doesn't take too much time.
0 votes 6 answers Share Flag
Sun Jan 6, 2013
The Medford Team answered:
Are you asking a question or making a statement? As a broker, you should know the answer to this question – the Blog section of Trulia is better suited for this approach.
0 votes 5 answers Share Flag
Wed May 26, 2010
Don Tepper answered:
Let's approach this from two angles. First, you ask how it affects you and your bottom line.

Properly structured, it'll provide some up-front cash (the option fee), income slightly higher than ordinary rent, and the possibility of a sale down the road.

Let's now address some of the statements--correct and incorrect--below:

STATEMENT
If you get into a price today and prices go up tomorrow, you may be stuck with todays price in a year.
ANSWER
True. The price is usually set up-front, though it doesn't have to be. So that's why you set the price HIGHER than today's value. After all, if they could buy right now, they would. They can't. So you charge a premium for that. Let's say in today's market your home is worth $400,000. You might agree on a purchase price of $440,000 at any point in the next 3 years. Ask yourself: Would you be satisfied with that as a sales price? If yes, fine. And if the market soars and the home is really worth $460,000, that's life.

STATEMENT
The buyer usually has the option to not buy but may loose his/her option deposit. If they do purchase, then the option money goes towards the price.
ANSWER
Actually, the buyer always has the option not to buy. That's why it's called an option. And, yes, they're almost always structured so that the buyer loses his/her option deposit. Remember: It's not a downpayment, and it's not a security deposit. It's a fee (an option fee), in return for which you've given them something of value: The right to buy your property.

STATEMENT
Another thing to consider is what do you do it they don't take care of the property, because you cannot just give them a notice to move.
ANSWER
You structure the lease to make the tenants responsible for minor repairs. And, yes, you can just give them a notice to move. They're leasing the property from you. Although they may have an equitable interest (see below), they're there as tenants. Just make sure your lease complies with all state and local regulations.

STATEMENT
My attorney told me that a lease option gives the tenant a "beneficial interest in the real estate". This significantly changes the landlord/tenant relationship so you need to understand HOW this affects you.
ANSWER
I advise you to check with an attorney who knows and understands lease options. You will probably be told that the landlord/tenant relationship does not significantly change. The lease is the lease. The option is separate. But do check with a knowledgeable attorney.

STATEMENT
My accountant told me that, based on how the agreement is written, the length of time, the rights of the tenant, etc. is how it will be handled for income tax purposes.
ANSWER
I advise you to check with an accountant who knows and understands lease options. Your goal is to have two documents: a lease and an option. I'll leave it at that.

STATEMENT
If property is renting well in your area you can rent without giving an option.
ANSWER
Generally true. However, some sellers like lease-options even when property is renting well. As you note, you have your property up for sale. You'd rather sell than rent. So a lease-option at least gives you a potential buyer. Rent without the option if you wish, but if you want to sell and you don't have any buyers lined up, then at least a lease-option gives you a chance.

STATEMENT
If you give an option and prices go up the seller does NOT get that appreciation.
ANSWER
Generally true, as noted above. However, options can be structured to share that appreciation. It's all negotiable. What IS needed in the option is a clear, unambiguous way to determine the sale price. And most parties prefer a solid number. But it can be based on other factors, everything from indexing for inflation to requiring an appraisal at the time the option is exercised.

STATEMENT
If you give an option and prices go down the lesee probably won't buy it - they will go and find
a cheaper house somewhere else.
ANSWER
Maybe. But you always have the right to renegotiate the option to offer a lower price, if you wish. Or you can extend the option period. And, worst case scenario: You've collected a non-refundable option fee. You've leased the property at above-market rent. And now, if you wish, you can repeat that process.

STATEMENT
I have found most times this benefits the buyer more so than the seller.
ANSWER
Everyone's experience is different. But there are plenty of benefits to the seller. Again, up-front option fee, slightly higher than market rents, and the possibility of having a buyer lined up.

STATEMENT
The purchase contract will discuss all elements of the purchase.
ANSWER
Not in a lease-option. A lease-option is a lease and an OPTION to buy. A lease-purchase is a lease coupled with a PURCHASE agreement. And either one is fine. But recognize that they are different. A lease-option is a unilateral agreement, whereas a lease-purchase is a bilateral agreement.

Out of space. But hope that helps.
... more
0 votes 8 answers Share Flag
Wed May 26, 2010
Pam Vanderschoot answered:
It's nice that you are in a family park. It opens you up to more buyers. I currently have a sale pending on my listing in Napa Valley Moble Home Park on Pattie Way. I have sold several units in both Newell and Salvador parks. I cannot tell you what the value is without more information but would be happy to meet with you and do a market analysis on the property. How soon do you want to sell and/or put it on the market? It sounds like you are in a great location within the park. ... more
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