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Home Selling in 38103 : Real Estate Advice

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  • Home Buying1
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Activity 43
Mon Jan 28, 2013
Christy Utterback answered:
I'm very familiar with the BPO & REO sales process. Let me know if I can help.
0 votes 2 answers Share Flag
Sat Nov 14, 2009
Marta Miri, M.S. Broker asked:
Wed Mar 31, 2010
Don Tepper answered:
A 30 day guarantee to sell a property? Sure, an agent could offer it. But could the agent deliver? You can't even close on most properties in 30 days.

I've heard of agents who've offered 90 day guarantees, and some of them have gotten burned. But on top of that, there are a lot of conditions attached to it. For example, the property has to be listed at or below where the agent suggests. And often there's a built-in de-escalator clause which the seller must comply with. And, further, there might be a base price which you must agree to accept.

For example, suppose most agents suggest you list your home at $400,000, and say that you probably will get an offer within 90 days at $385,000 or higher. In the case of a guarantee, an agent might require that you list at $385,000 and agree to a $10,000 price reduction every 30 days. After 30 days, the price drops to $375,000. After 60 days, it drops to $365,000. So it'll be on the market for the final 30 days of the guarantee (if you haven't gotten a contract earlier) for $365,000 when other similar properties are listed for $400,000. And you might get an offer for, say, $355,000. Maybe your agreement requires that you accept any offer above $354,000 to enforce the guarantee. So you sell at $355,000. And that might be fine with you. On the other hand, with another agent, and maybe waiting a bit longer (or maybe not), you might have been able to sell at $380,000 or $390,000.

So you really have to look into a guarantee's fine print.
... more
0 votes 2 answers Share Flag
Fri Jan 29, 2010
Steven Tustin answered:
Get with your Realtor and find out what the average days on the market is for your neighborhood. Three and a half months may not be that long if the average property is selling in say 9 months or so. If it has been too long, then more than likely your home is not in alignment with the current market and you should consult with your Realtor about pricing your home to sell now. Also, ask your Realtor about which direction values are headed right now. Are they flat, declining, increasing? You want to price slightly ahead of the trend for a quick sale. Remember nothing else matters to the market except the current price (not your loan amount, what you put into it, or how you feel about it).

Steve T.
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0 votes 8 answers Share Flag
Fri Oct 2, 2009
Memphis Owners answered:
Tue Jun 23, 2009
Terry Longmire answered:
Justin,
It is very common for a buyer to ask for closing cost in our area. Many of todays buyers who must come up with at least 3.5% down don't have the cash left over for closing cost. Remeber that the agent does not represent you at all (no dual agency in Tennessee) so be sure to read everything very carefully. ... more
0 votes 9 answers Share Flag
Sat Aug 22, 2009
Gerald Williams answered:
Lamouruk,

There are a number of areas where you can achieve your goals, the one's you mention as well as some others. Much of the ability to retain value or provide for increasing in values in a home is highly dependent on the individual home your might select, as well as the individual neighborhood , the home's current condition, and what you do with it after you purchase. There are number of factors that need to be considered not the least of which is schools, commuting work and what your family likes to do when you are not "working".

May I have the opportunity to discuss your goals further? I am an experienced agent and I have worked with many satisfied customers in all these areas, some more that once. Just give me a call.

Gerald Williams
Affiliate Broker
Mortgage Loan Officer
BenchMark Realtors, LLC
BenchMark Mortgage, LLC
901-413-2233
gh_williams@yahoo.com
... more
0 votes 9 answers Share Flag
Fri Jul 26, 2013
Suzanne White answered:
Jeff,

Your real estate agent will be able to give you all the data you need to set your listing price. This will include what is on the market, what has sold, and what homes and at what price the market rejected the homes. If you are wanting to try and sell FSBO, hire an appraiser to do an appraisal. This won't be the same as the data an agent will provide for you but it will at least tell you where to start. ... more
0 votes 8 answers Share Flag
Mon Apr 20, 2009
Michael Bellaire answered:
Terrance, if you want to supply some more information, i.e. location, address, etc., maybe I can help find you an answer. If you are represented by an agent, just simply call the agent. You can send me the information at michael@mbellairerealestate.com. ... more
0 votes 1 answer Share Flag
Fri Apr 17, 2009
Gerald Williams answered:
Angmic,

On a listing agreement a "back-out" is whatever you and the Broker agree to as a condition of releasing the listing agreement. There is not a standard 3 day back-out.

If you are asking can a buyer back-out based on a 3 day "right of rescission" as he can on most consumer goods contracts, there is no such provision in most real estate contracts, However keep in mind that a contract and all of the "back-outs' contained are whatever the buyer and seller agree to as long as they are within the law. You could conceivably write the contract that gave the buyer the option to cancel the agreement within 3 days. Usually the contingency on various inspections, appraisals, and financing are enough to make sure everyone is satisfied with the transaction.

Hopefully this helps if you need additional information or have more questions just give me a call or send me an email.

Gerald Williams
Affiliate Broker
Mortgage Loan Officer
BenchMark Realtors, LLC
BenchMark Mortgage, LLC
901-413-2233
gh_williams@yahoo.com
... more
0 votes 2 answers Share Flag
Tue Jan 26, 2010
Ryan L Hinricher answered:
Well if you are looking for Investment Property, feel free to add http://fhcompanies.com (#1 site for "Memphis real estate investment" on Google, and http://InvestorNation.com

Regards ... more
0 votes 4 answers Share Flag
Sat Mar 28, 2009
Terry Longmire answered:
Do you have a street number, I do not show any active listings on Dycus Cove in the MLS?
0 votes 1 answer Share Flag
Wed Feb 25, 2009
Terry Longmire answered:
Stacy,
There can be a couple of factors that will determine that, one is if the person who is going to buy it wants to get an FHA loan you must own it for 90 days.The other is what type of loan you have, I suggest you contact your lender and make sure they have no penalty for an early payoff. ... more
0 votes 2 answers Share Flag
Mon Feb 16, 2009
Jo Shaner answered:
I can only tell you from personal experience here: I had a listing several years back at N. Cooper. I originally sold the house to a rehaber, the rehaber ran out of money before totally finishing, then sold to another rehaber, then to the final occupant - got the picture?

This house was zoned residential, the house next to it was commercial (a photography shop if I remember correctly). The last sellers I worked with on the house found out that the commercial rate per sq ft. would be higher if they rezoned to commercial, however they would have had to pay more to get it rezoned, recorded and a few commercial improvements. We were told then, if it goes OUT of residential zoning - it cannot be used as residential again - no mixed use. There are only a few areas like downtown that allow the shop owner to live over his store. The city does not want folks living in the back of a gas station as we were told back then.

I would contact someone at the zoning commission to get the straight answer here and not rely on hearsay.

Jo Shaner
... more
0 votes 1 answer Share Flag
Mon Feb 16, 2009
Gerald Williams answered:
Yes,
It is still an single piece of real estate. Best martket would be the investor market Good Luck!
0 votes 3 answers Share Flag
Sat May 2, 2009
Terry Longmire answered:
Alexa,
I would talk to either my lawyer or a credit counsler about how this would effect my credit down the road. If you have been clean since for the last 2 years I would try every thing I could to kep it going in the right direction. ... more
0 votes 3 answers Share Flag
Mon Oct 13, 2008
Scott Godzyk answered:
Neutral is always better than bright or non traditional red, green orange, purple, brown and such. paint is only 1 issue. the thing that sells a house is price and condition. value is what someone is willing to pay for it, so your price needs to be at a point where you are starting to attrract offers. have your agent do a new appraisal to see hwat other proprties in yoru area have sold for so you know where you stand. goo dluck with your sale Tina ... more
0 votes 7 answers Share Flag
Wed Jul 2, 2008
Michelle Doscher answered:
Hi Eddie,
If this is a service that you offer, my suggestion is to contact Realtors and introduce yourself. You might also place ads on the internet and in newspapers. Good Luck! - The DoscherTeam ... more
0 votes 3 answers Share Flag
Tue Jan 17, 2012
Alan May answered:
Location is not the only way to price a home.... but you have to admit, it's a fairly important factor.

When buyers approach me, they often already have a specific location in mind, and won't look at anything outside of that location. So location is a very important factor.

But new bath, new kitchen and new windows... etc... are also very important factors that add to the value of your home, and a good Realtor will take all of that into account when they provide you with your Comparative Market Analysis.
... more
0 votes 6 answers Share Flag
Fri Dec 28, 2007
Don Tepper answered:
Bottom line: You want to find out why it's not selling. First thing to look at always is the price. Second thing to look at is appearance and condition. If it's listed with a Realtor, first talk to him/her. Ask for his/her professional judgment on why it hasn't sold. Also ask for a new CMA. And ask what the feedback has been from anyone who's viewed the house. And ask about and review your agent's marketing program for your house.

Also, consider contacting several other agents and having them make presentations. Recognize that, if you currently have a listing agreement with an agent, you're bound by that agreement...although the agent can voluntarily release you from that if he/she so chooses.

That's what I'd suggest.
... more
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