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Home Selling in McKinney : Real Estate Advice

  • All313
  • Local Info33
  • Home Buying108
  • Home Selling13
  • Market Conditions6

Activity 11
Wed Oct 5, 2011
Anna M Brocco answered:
Since you are asking a legal question, it's in your best interest to consult with an attorney...
0 votes 8 answers Share Flag
Thu Aug 3, 2017
Don Tepper answered:
Who says there's a catch? Or . . ask them.

Actually, though, that model could work. Look at it this way: First, as a buyer there's typically no commission (to the buyer). So if you're the buyer and you're being asked to pay a 3% commission, there's income to the agent that you wouldn't get with the "traditional" arrangement of a commission when selling, but not buying.

As for the 0% commission selling, ask the agent. It's possible--I'm only guessing--that the listing agent might structure the sale the same way a FSBO would. Now, some FSBOs are willing to pay the buyer's agent commission. Others aren't. An agent might structure it like that: You pay no commission. However, the commission would have to be paid by the buyer. Be careful: That would serious limit the number of potential buyers who'd consider your home.

So: Ask an agent who's offering such a deal.

Hope that helps.
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0 votes 25 answers Share Flag
Fri Nov 5, 2010
Lyle Wolf answered:
What does the listing contract say? You need to consult an attorney. Texas has a 3 day right of rescission, but an attorney would need to advise you as to whether the listing agreement qualifies. Owning a real estate agency myself, if someone wanted out after 24 hoursI would try my best to convince them to let us market their house, but if they really did not want us to I would let him out. It does not pay to have a unhappy client from the start. The link below provides some explanation on the Texas 3 day right of recision.
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0 votes 5 answers Share Flag
Wed Mar 18, 2015
Tamika Goree answered:
Hi Diane,

Right now is a great time to buy. Most builders are offering great incentives on inventory homes and interest rates are still pretty low. McKinney is ranked #5 by Money Magazine on the " Best Places to Live!" I will be happy to assist you on finding your new home! I can email you a list of available inventory homes in McKinney. As a thank you to my clients, I offer a 20% rebate of my commission that will be credited to you at closing. Again, it's my way of saying, "Thank You!"

Please feel free to contact me at your convenience. I look froward to hearing from you soon!

Make it a Blessed Day!

Tamika Turner, Realtor
William Davis Realty
Cell: (972) 697-1178
Fax: (682) 222-1049
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0 votes 15 answers Share Flag
Sun Sep 13, 2009
T.E. & Naima Sumner answered:
Just make sure the house is clean and organized. They look at the neighborhood, the lot, the exterior and the interior for condition and quality of construction. How well maintained the house appears to be is a factor. And what differences there are between your house and similar ones built about the same time.

Anything special you have done to improve the value of the house you might want to leave a note for him to see or mention it to him in person. This would be something like built-in shelves, an addition, fencing you've added, permanent wall coverings like troweled colored plaster, additional energy improvements, remodeling of kitchen or bath, or the like. This will give him some ammunition to appraise yours higher than the surrounding identically built homes from the same builder.

Be friendly if you're there, but don't inquire what he will give for an appraisal. Don't try to lead him around or follow him. He won't be there long. Absolutely do not engage with him to the point of arguing.

Beyond that, you just want it to appraise high enough for your buyer to get his loan. Typically, the lender waits on the file to pass muster before ordering the appraisal. So, yes, it is looking pretty good (but there can still be problems - just less likely).
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Sun Feb 15, 2015
Bill Eckler answered:
Yes, it could be a good sign.....however, it's important to not read anything into this that isn't there. Agents often take the opportunity of time like this to make a point or form comparisons between homes....this requires time and may or may not have anything to do with your home. ... more
0 votes 10 answers Share Flag
Fri Jun 5, 2009
Emmanuel Scanlan answered:
Hello Home Seller,

I would expect that if you read the buyers loan paperwork there is most likely wording allowing the mortgage company to do this. I would doubt that they would decline financing without the ability to do so. Of course this is really a matter for the buyer to explore with a RE Attorney if they feel the mortgage provider is reneging on a valid contract. I've been through a number of financings over recent years and have seen clauses allowing mortgage companies to cancel for nearly any reason. Unfortunately with what is going on today mortgage providers are more apt to exercise those rights than not.

Emmanuel J. Scanlan
PS Inspection & Property Services LLC
214-418-4366 (cell)
TREC License # 7593
International Code Council, Residential Combination Inspector #5247015-R5 (Electrical, Mechanical, Plumbing and Building)
Certified Infrared Thermographer (ASNT-TC1A Standards)
Texas Residential Construction Commission, Third Party Warranty Inspector #1593
Texas Residential Construction Commission, Inspector, County Inspection Program
Texas Department Of Insurance, VIP Inspector # 08507061016
Hayman Residential Engineering Services, Field Technician
CMC Energy - Certified Energy Auditor

Knowledge is power, but sharing knowledge brings peace!!
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Wed Sep 8, 2010
Don Tepper answered:
Why the difference?

Often, with new construction, the tax appraisal reflects the land and the previous property that stood there. So, if it was a vacant lot (or, more likely, a lot with a tear-down on it) and the tax assessment is supposed to be at 100% of fair market value, the tax assessment is reflecting what was there prior to the new construction.

As for what you can offer the seller: You can offer anything you want. Recognize, though, as noted above, the $265,000 probably doesn't reflect the new construction. And, frankly, even if it did, never ever base an offer (or an assumption of fair market value) on a tax assessment.

Contact a Realtor and have him/her do a CMA on the property. It may be tricky--it often is when a neighborhood has multiple foreclosures or short sales--but it's much more reliable than relying on a tax assessment that may not even reflect current construction.

Hope that helps.
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0 votes 12 answers Share Flag
Fri Jan 9, 2015
Rob Purifoy answered:
I'd rent the home out as it's a hot rental market right now. Homes' values are okay but could be better. Depending on your situation, and tax bracket, a write off with rental property could be nice. However, Keeping the debt load on your income ratio could prove a problem with buying your next home. Lot's of considerations here... Feel free to give me a shout, we do loans as well so I may have more of a well rounded insight for you vs. just your average Realtor. ... more
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Thu Jan 3, 2008
Melissa Hailey answered:
Your best bet is to work with a Realtor. I would recommend that you contact more than one, and have them give you a Listing Presentation. The Realtors will then pull information about your specific area and present it to you, and they should tell you specifically what they will do to market your home for sale. Look for a Realtor that you feel comfortable working with that has the skills (and a plan) to help you sell your home fastest for the highest price.

If you decide to use a Realtor, you will enter into a contract with them to help you market your home. Keep in mind that most Realtor's don't get paid unless they sell your home, but there are other options. Most contracts are for several months (giving the agent time to market the home, negotiate the sale, and get the transaction closed).

Before you put the home up for sale, you should make sure to have it ready. Any minor repairs that need to be done should be completed. Possible touch up paint, steam cleaned carpets, de-cluttered, thorough home cleaning, are just some things to consider. A Realtor can advise you if there are any changes that could be made to help market your home for a quick sale.

If you have other questions, feel free to call me at 214-418-0180. I am happy to answer your questions or help in any way. Good luck!

Melissa Hailey
Coldwell Banker, Jane Henry Realtors
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0 votes 5 answers Share Flag
Wed Jul 14, 2010
Emily Erekuff answered:
Hi Jennifer,

The listings featured on Trulia have been extracted from indexed broker/agent web pages. We do not obtain listing data from the MLS.

Please ask your realtor to visit the link below so he or she can submit your listing to Trulia.

Best Wishes,

Emily Gibson
Customer Service Representative
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