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Home Selling in Saint Paul : Real Estate Advice

  • All188
  • Local Info28
  • Home Buying71
  • Home Selling9
  • Market Conditions5

Activity 14
Tue Apr 18, 2017
Andrey Sokurec answered:

Of course, when you list your house with a realtor, you must pay a commission of 6% +/- on the sale price, but you also get the expertise required to navigate the maze of steps, legal and financial requirements, title issues, and all the other things that can go wrong.

For Sale By Owner

The main reason people try this path is to avoid paying realtor commissions of 6-7%.

Realtors control the majority of buyers and will not show your house to their clients unless you agree to pay their commission.

Realtors are the best people to determine a price that will get your house sold quickly for a good price.

Realtors provide expertise to navigate through the maze of steps, legal and financial requirements, title issues, and all the other things that can go wrong.

Without a realtor at your side, you are on your own.

For sale by owner can be a false start that wastes time and extends your monthly carrying costs (mortgage payments, taxes, insurance, utilities and maintenance) that could run $1,000 a month.
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Mon Sep 5, 2016
Rahkahhome asked:
We have a 3b/2b 1920s craftsman in metro neighborhood. Comps run $412k-$435k, we are listed at $420k, firm. Our target buyer is single or couple, not likely a family. The comments we have…
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Wed Apr 27, 2016
Gjkarwoski asked:
This buyer's name was mentioned as a potential source of financing by someone else who was interested in the property, but the actual buyer never contacted me or the realtor during…
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Fri Mar 18, 2016
Butchmon007 answered:
Go to Sea World in Orlando, Florida.
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Tue Dec 29, 2015
Karen Peyton answered:
Ask your question of a tax professional. They can look at your previous returns, listen to your story (which you should provide in detail) and make predictions of your "tax future" given various scenarios.

Good luck!
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Sun Jul 8, 2012
Bill Eckler answered:

You are finding that homes built to the family of the 1950's and 60's and in now way able to meet the needs and expectations of today's family.

Your best approach will likely be to find a total solution for the problem. Today's needs include a two bathroom scenario at the very least. With this said, the locations of such facilities should be a major consideration and you'll likely find (hopefully not too late) that having baths in the basement and second level will not get it done. Future buyers will see this as a huge inconvenience and render your home as likely flawed for the RE market.

With this said, in my opinion your absolute best choice is to "bite the bullet" and do what needs to be done to locate the bath where it should have been in the very beginning....on the first floor.

Good luck with your decision.

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Thu May 10, 2012
Steve Vennemann answered:
Neighbors are very important with the sale. They can make or break a deal in some cases.
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Wed Jun 30, 2010
Susan Hofflander answered:
Oy, why would you want to do this on your own? I find it interesting that people consider trying to handle complicated legal procedures on their own when they wouldn't dream of doing things like performing surgery on themselves.

At the very least, consult with an attorney and explain your situation. Consult with a couple of attorneys. They usually don't charge for an initial consultation. From there, you can decide if someone is willing to work for YOUR best interests and not charge you an arm or a leg. That way, you'll know it's being handled correctly so you can walk away with no worries about future repercussions.
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Sat Jun 12, 2010
Manu Kapoor answered:
You could do it your self AND get it inspected. Just check with your realtor if it is listed with him, as to what is he saying when he shows the property. Very Imp to disclose proper condition. ... more
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Sat May 8, 2010
Keith Sorem answered:
I would recommend talking with three Realtors. Have them analyze your situation, both the buy and sell sides, then compare their proposals.

In most case investors have a goal of buying a property for 20-25% BELOW market. Why would you want to sell 20-25% BELOW market?

I'd sell it for the HIGHEST price possible, if it were me. LISTING it 20-25% below market will ATTRACT the investors you are trying to contact. Most investors have REALTORS as part of their team, so if there is a "good deal", they will find out about it.
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Fri Mar 19, 2010
Susan Hofflander answered:
yes, most likely, if it's an older home, those windows will not be a consideration when determining if the upper level rooms can be called bedrooms. By definition, the word "egress" means a way out. Those decision makers who determine what's code have enacted a rule that says that in order for a window to be called "egress" it must meet a certain size, which is enough to allow a fire fighter with gear on to enter through the window for a possible rescue and for a trapped person to get out. Many older homes windows do not meet that requirement in their above ground bedrooms, but are not prohibited from calling them bedrooms. And, sometimes the window has to be within a certain height from the floor of the room to be considered "legal" too. Again, there is some leeway when it comes to older homes/windows, but usually not for those that are subterranean. ... more
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Thu Jan 21, 2010
Alisha Chen answered:
That depends on the lender, some will take the average of the two, since the difference is not great. Some lender may request a 3rd opinion.
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Mon Jun 2, 2008
Jeffrey Schnabel answered:

Appraisal requirements were initially set by the Uniform Standards of Professional Appraisal Practice, under the direction of the U.S. Congress. States typically adopt those standards, and often times even exceed those standards. But the real issue is not so much your specific states requirements, rather, the issue is what the lender's underwriting department is going to accept as the appraised value.

Prior to the current debacle in the mortage industry, some underwriters overlooked comps that were foreclosures, or even sent the appraisal back to the appraiser to be reworked with better comps to justify the sale price. These days, it is more as it should be. That is, what prior sales best represent the value in the market for the home currently being appraised. If foreclosures are prevalent, then they must be considered.

There are no hard and fast rules, common sense should rule. Certainly, distressed properties include foreclosures, but they also include properties in poor condition. Appraisals must be done with "like" properties, that includes conditions of the property, conditions of the sale, conditions of the neighborhood, etc.

There is no rule, at least none that I have ever seen, where foreclosures cannot be used in an appraisal.

Best regards,

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Thu May 17, 2007
Teresa Boardman answered:
Thanks for the question. I can't actually answer it. MN Realtors do have fiduciary responsibility when they enter into a contract to represent a buyer or seller. I have more information on the subject and how agency works in MN ... more
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