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Home Selling in Salt Lake City : Real Estate Advice

  • All225
  • Local Info30
  • Home Buying69
  • Home Selling14
  • Market Conditions8

Activity 25
Sun Sep 29, 2013
Victor Rothaar answered:
Good question! I'm afraid I'll need more info in order to answer your question. There are so many variables involved here. Do you have a set of plans? What kind of total square footage are we talking? What are the specs of each unit? Is the work space finished or unfinished? What types of finishes in the living space (basic, mid, or luxury)? What is the overall style (traditional, modern, etc.)? What part of town? This is obviously a question that can't be answered in a post. Please feel free to contact me to discuss further. Thanks.

Victor Rothaar
Ultimate Homes of Utah
801-718-3080
www.UltimateHomesUtah.com
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0 votes 1 answer Share Flag
Tue Feb 12, 2013
Ron Thomas answered:
Marketing means more exposure; the more Buyers that see the LISTING.....
I'm sure your Realtor would use other Marketing venues too.
0 votes 2 answers Share Flag
Fri Nov 16, 2012
The Brad Winget Team answered:
To get top dollar I would suggest fixing it. Most buyers will have an inspection done and will find potential problems and either ask for you to fix it or ask for a credit. So you will end up fixing it anyways. ... more
0 votes 10 answers Share Flag
Mon Sep 19, 2016
Justin Critchfield & The CritchfieldGroup answered:
You are looking at around $58 a sq ft for a rambler with an unfinished basement and around $66 for a two story. That is with a good chunk of upgrades. Then you just need to add the lot on top of that price.
Search lots and other homes at Utah's number one real estate website or call me for more info. We help negotiate great deals for buyers when they build.
http://www.RealDealUtah.com
801-891-5489
Justin Critchfield
Century 21
... more
0 votes 6 answers Share Flag
Sat Aug 25, 2012
Scott Godzyk answered:
When you list with a licensed agent or broker you simply ask tehm to post it here in Trulia. You can not list your home here if it is for sale by owner.
0 votes 7 answers Share Flag
Tue May 20, 2014
Kristopher Furrow answered:
Hello & Happy New Year Voyagerbh,
There are a few questions that will change the way I might answer this question, here are a few to start...

1) What is the extent of dis-repair?
2) What is your current equity position?
3) Is the home occupied or rented?
4) Would you consider hiring and paying a general contractor to finish the work before marketing?
5) Have you considered offering the home for sale with a Lease option or Seller Financing?
6) Are you current on the payment, If so are you facing imminent default? If not how far behind are you?

There is a lot that goes into the valuation and marketing a home for sale in today's volatile market.

As far as Property Tax relief, there may be some short term options available. Maybe it is best to explore liquidating the asset altogether?

Please feel free to call me anytime to get information more specific to your needs.

Kristopher Furrow, REALTOR
-Associate Broker, CRS, ePRO

Windermere Real Estate - UTAH
Salt Lake City and Park City
2348 South Foothill Drive
Salt Lake City Utah, 84109
Direct: 801.999.8679
Office: 801.485.3151
Fax: 801.485.3152
Email: Kris@NOWShowingUTAH.com
... more
0 votes 9 answers Share Flag
Tue Dec 6, 2011
Clint Carter answered:
You may want to consider doing a short sale yourself, however you need to understand the potentially negative side effects of doing a short sale: your credit will be damaged, you may have a tax obligation for the deficiency, and the lender may pursue or require the negative equity to be repaid or repaid at a reduced or negotiated amount. I can answer all of these questions for you in more detail through a personal interview and review. You may also consider a loan modification if it makes sense, it all depends on your long and short term life plans.

Clint Carter
PDS Real Estate
Short Sale and REO Specialist
1415 S Main Street
Salt Lake City, Utah 84115
801-651-8333
ccarter@pdsrealestate.com
... more
0 votes 5 answers Share Flag
Sat Aug 25, 2012
Christopher Lefebvre answered:
If you don't have the money to make up the difference in price on what you owe and the offer amount then you may be in a short sale situation. Perhaps you could counter offer and explain the situation and try to get the buyer to take care of the extra 3 grand? ... more
0 votes 9 answers Share Flag
Tue Apr 5, 2016
Don Tepper answered:
You'll have to call around and speak to different agents. Or you may have a discount brokerage in your area. You can probably do an online search to determine if you do.
0 votes 15 answers Share Flag
Sun Jul 11, 2010
Anna M Brocco answered:
What is your agent suggesting--if you don't have an agent do consult with an attorney who specializes in real estate, for all related documentation--yes, contact your lender--if you currently hold a mortgage, that mortgage will need to be paid off at closing. ... more
0 votes 5 answers Share Flag
Tue Dec 6, 2011
Kent Gagon answered:
Christine,
An appraisal from 5 months ago may still be accurate or it may not, generally speaking anytime a buyer is qualifying for a loan thier lender is always going to order an new appraisal. Who did the appraisal when you listed the home and was it for an FHA loan? FHA appraisals are typically good for 6 months when they are assigned to an FHA case number but even in todays market they are often updated after 3. But if it was just an appraisal that you or your realtor ordered to determine a realistic listing price, the lender is not going to be able to use it. Appraisals are now ordered through a 3rd party system, the lender does not have any communication directly with them.
Hope this helps
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0 votes 9 answers Share Flag
Tue Apr 20, 2010
Anna M Brocco answered:
Not knowing any specific details--Protect yourself and consult with an attorney, see exactly what options you may have.
0 votes 2 answers Share Flag
Mon Jan 18, 2010
Connie Erickson answered:
I would think that the "referral company" would have to be licensed in any state in which they place property on MLS. Also, they may be required to be members of the local and state associations in order to have MLS account. ... more
0 votes 2 answers Share Flag
Tue Dec 6, 2011
Bill Eckler answered:
Standards differ greatly from state to state. One common thread seems to be that agents functioning as "independent contractors" provides a great deal of individual freedom as well as opportunities for agents to create problems for themselves.

From our perspective, all agents would truly benefit from having access to a management program that closely monitors its agents and their activity.
... more
0 votes 7 answers Share Flag
Tue Nov 24, 2009
Dan Chase answered:
Is there any way at all to pay for your mortgage? Could you do it if you really tried?

Assume yes, then keep paying it.
Assume no, (loan reset, job loss etc.) go to your lender. Ask them if they can modify your loan. See if they will work with you to help you stay in it. Take your documentation with you. Income, expenses etc.

If they agreed, work with the new loan, and pay it faithfully.
if not, ask about deed in lieu of foreclosure. Give them the deed and walk away. Short sale and foreclosure are the only other options I keep seeing here. (not a lender or dealing with them)

If you can short sale keep making your payments. It may save much of your credit.
If you are going to lose it to foreclosure anyway what difference does making the payments create? Your fico score will be terrible anyway.

Keep paying on your mortgage as long as there is a chance you could keep the house. Once you stop payments you hurt your credit. It can take a very long time to rebuild it. A short sale is always said to hurt you less than a foreclosure. If you make payments on the place and do a short sale you may be able to get out from under the house before it is foreclosed on. That could mean your credit is much better than if you just foreclosed.

One last thought, if you are sure you are going to lose this house and need to rent get the rental before you face the foreclosure. Many will check your fico score when renting out and that foreclosed house could cost you a good rental.
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0 votes 2 answers Share Flag
Mon Nov 30, 2009
Tom Winand answered:
No you can only sell your home. Mortgage companies and only execute their right to foreclose. I assist with an organization that helps people in that situation. See http://projecthopeforhomeowners.org/. Short selling your home can be a good idea if you are going to be foreclosed. Be aware you need advice from a organization that will give your the real truth. You can also do loan modification. Know your rights!

I had an agent call and ask me to have one of my short sale listing quit claim (give the home to them) the home to their client and they would get the bank to accept a very low price. They would market it as a sale to the public during this time 90 days and get a retail buyer and make $30,000 as a simultaneous closing. They could do that because they had the home quit claimed to them for 90 days. I'm sick of this type of unethical behavior. If you ever are ask by and agent or anyone else to sign a quite claim run way and turn them into the state.

Watch out for the misinformation even Realtor will tell you:
1. You won’t owe taxes if it's your primary residence. This is only true if the mortgage being short sold was your purchase money if you took cash out of your home on a refinance or 2nd mortgage that is taxable income if debt is forgiven. If you took cash out you will own taxes on the forgiven amount what the bank gets less what you own. If can be $100,000 or more of taxable income 1099 to you. What out don't get hurt know the facts call the project.

Call the Project 800-604-0281 they will help you create a future if you’re facing foreclosure!
... more
0 votes 5 answers Share Flag
Tue May 7, 2013
Becky Nay answered:
Yes, this would be a good time to move up because the smaller homes haven't lost as much value as the larger homes. The larger and/or the higher price range the more that they've come down in value. Condos have held their values for the most part than the higher priced homes so far. Just recently I have seem some in certain areas just start to go down a bit.

I'd be happy to sit down with you and go over the numbers to see what that looked like for you at this time.

Becky Nay, GRI
Keller Williams Realty
801-573-2077
beckynay@kw.com
www.beckynay.com
... more
0 votes 2 answers Share Flag
Tue Nov 24, 2009
Guy Adair answered:
That depends on a lot of criteria. How big is the house? How many bedrooms does it have? How many Baths? What kind of condition is it in? Are you in a hurry to sell or are you willing to take some time to get it sold? How much do you have left oweing on the House?

The best way to figure out the value and what price you should put on the property is by consulting with a Realtor one on one and by interviewing several Realtors. Most realtors will provide you with a free comperative market analysis to help you decide what the price should be. The more information you can provide on the property the better.
... more
0 votes 4 answers Share Flag
Tue Jan 27, 2009
Ron Templeman answered:
Most states have a transfer tax that comes out of a transaction. In my state (Delaware) it's 3%. 1/2 is paid by the buyer and 1/2 by the seller. Other fees may be recording fees and courier fees to pay off any existing mortgages. Your state may have other fees. Consult a Realtor or real estate attorney. ... more
0 votes 4 answers Share Flag
Tue Dec 6, 2011
Dallas Texas answered:
GREAT QUESTION: No you dont UNLESS in are in foreclosure status you might then want to confirm with bank.
0 votes 6 answers Share Flag
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