Got a Real Estate question? It’s Ask REALTOR ® in Sacramento time once again.
We have several Real Estate questions from our readers so let’s get right to them. And if you have a real estate question either email me or comment below and ask REALTOR ®.
Buyer Question: I’m trying to understand this as a hopeful buyer…If an ad says “subject to short sale” and bank approval, owner motivated” if they are asking say $150,000, can I just offer like say $130,000? Will the bank take lower offers, or are you stuck with the asking price? I’m new a this and on an extremely limited budget. Thanks.
Dear Potential Short Sale Buyer, there is no quick answer to your question. All banks are different depending on how much is owed on the property in short sale and if there is a second on the property. Meaning if there are two different loans. One may agree and the other may not. Typically, whatever the house is listed for (in this case–$150,000), what is owed is more than likely much more. The bank has a bottom line that they will accept and if they don’t get it, then they Foreclose on the house (this is what we have been noticing so far in the Sacramento area). The banks gather all of the offers and do not respond in a timely manner so if you have the time and the patience go ahead and make your offer but do so with the help of a professional, full time Realtor who can guide you with your offer.
Homeowner Question: I’ve heard that I am suppose to have my air conditioner and heater checked each year. If it’s working is it necessary to do that?
Dear Homeowner, yes you should have your heater and A/C checked twice a year. The reason for twice is that in the winter the A/C can not be checked, only the heater and vice versa. This keeps everything in working condition and reduces your utility bills as well as keeping you up and running when you need your heat or air conditioning working. Remember, to change your air filter at least every 3 months. Many heating and air companies offer programs where you pay a yearly fee and get service twice per year. This ends up being cheaper in the long run.
Seller Question: My house has not sold. I haven’t heard from my agent. Do I have to stay with my agent?
Dear Seller, this is a tough time in Real Estate. Your house must be in good condition, meaning it needs to “shine.” Have you taken a look at the other homes in your area and compared your home with the others? It’s important to know what your competition looks like and how much money they are listed for sale.
I’m sorry that you haven’t heard from your agent. It’s important to have a good working relationship and good communication between each of you. No, you don’t have to stay with the agent. I would suggest that you call your agent and sit down and talk. You did sign a contract and there is a final date on that contract. You can ask the agent to take your house off the market and see if the Broker will release you from the contract date.
Remember, that price is very important in this Real Estate market and it is important that the price of your home reflects what is happening in your area. Good luck.
If you have a burning question or even a small question, feel free to either ask right here or send me an email. All identifying information will be kept in strict confidence.
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