Time for seller to respond
Q: How much time does the seller have to resond to a contract signed by the buyer with a depost check
A: Whatever is the timeframe contained in the wording of that agreement / offer. If there is no timeframe mentioned, then it would be a wise idea for the buyer to rescind the offer - in writing with proof of delivery of that rescission.
Appraisal before sale ?
Q: Does a seller have to have a new appraisal before it can be listed for sale?
A: No, when selling, a new appraisal is not a ‘must’. You would want to have some guidance when setting the price before putting it on the market. This is done by either an appraisal, or an opinion from a Real Estate agent.Contact your agent & have them prepare a CMA (comparative market analysis) so you will have a successful end result. Overpricing not only stops your house from selling, it can cause it to not close, even if you do sell at an inflated price, due to the appraisal not being able to substantiate value. That is generally a main ingredient for a loan approval unless you have a cash buyer (or someone who puts a lot down toward the sale, like 50%)
How long do I have to move out ?
Q: When i sell my home,how long do i have to move out and will i get money so i can move?
A: Usually, unless agreed to otherwise in a purchase agreement, the seller has to be out at closing. It can be agreed that the seller can stay after the closing, usually for a fee (per day) equaling the amount of the buyers new monthly mortgage payment (broken down to a daily rate). The money you would use for moving comes from the proceeds of the sale (if any) & / or your personal bank accounts.
Selling a mobile home
Q: Hello. I was thinking about selling my mobile home and i was wondering if i have to pay off my credit cards before selling, or can i pay them off later sometime? Unfortunatelly i owe more on my credit cards than what my home is worth. Thank you.
A: As far as I know, you don’t have to pay off any cards to sell your place.The time when you buy is when you would probably have to have your cards ‘under control’. Why don’t you check with a lender to see what your situation would allow.
Sale our home
Q : We own a home and really not looking to buy but if something did catch our eye - how does it work to sale our home and get the other one
A : Some people can qualify & afford to own 2 places, check with your lender & see. Most people would make an offer contingent upon the sale & closing of their current home. Talk to your agent about the particulars on this type of transaction.
Listing agreement question
Q : Do you have 2 have both signatures(husband & wife) on a listing agreement (not the sales contract) just a contract to list the house for sale?
A : While you should have all the owners signatures on all contracts & agreements, I know some realtors who proceed with just one signature on the listing agreement. All other agreements - especially a sales contract must have everybody’s signature who has claim to title.
