DEAR MONTY: I recently listed my home for sale. There have been several showings. Yesterday I had a showing that made me worry about safety. A couple came through with their agent. I thought it was unusual the way they looked at the house. While the agent asked me questions, they took it upon themselves to walk through the house. I felt like ...Read more
Dear Monty: We are considering a lifestyle change that involves selling our home. There is advice everywhere on the best steps one can take to fix it up, increase the value, sell it quickly with no hassle and much more. The advice is often conflicting and makes no sense to us in some cases. For example, we have kept our 30-year-old home up ...Read more
Dear Monty: We want to give our son a quitclaim deed to our house, which he rents from us. We still have a mortgage of $117,000 on the home. What is our obligation in this transition?
Monty's Answer: There are several steps that must be taken before you can quitclaim your home to your son. Transferring title in any circumstance is a legal ...Read more
Dear Monty: We are going to sell our home soon. In preparing the house, we are interviewing real estate agents to learn more about them and how they work. We want to have a home inspection before putting the house on the market. All three agents we interviewed discouraged us. The reasons differed, but one reason in common was that if a buyer ...Read more
Dear Monty: My mom's home was transferred to me from the court in probate for a certain amount. I am selling it to my son. It needs some repairs and updating. I am not looking for profit, just fairness to my other children. What would be a fair price to ask?
Monty's Answer: Before answering your question, there is background information to ...Read more
DEAR MONTY: I am selling my home through an agent, and I verbally agreed to a price from a guy who lowballed by over half the asking price. The guy is nitpicking everything and taking forever, so I have signed no papers. Now I have another offer through a personal friend. I want to know if I can accept this other offer and still pay the agent'...Read more
Dear Monty: We are suspicious of our home sale. We found out our agent (No. 2) and the buyer were friends at the closing. The lender also had close ties to the buyer. Our home was listed with agent No. 1 for seven months with no results. We switched agents and received an offer from a buyer using agent No. 2, who was also friends with our old ...Read more
Dear Monty: We live in Florida. A real estate agent told us that all real estate agents here are transactional agents. They said it is impossible to have a buyer agent or a seller agent in Florida. Many people have depended on real estate agents to recommend a home inspector. Should prospective buyers ask a transactional agent for a list of ...Read more
Dear Monty: I have a home that's 2 1/2 years old, and I have a situation in which my master bedroom stays colder than all the other rooms. It's very noticeable in the winter. To be comfortable, I use a portable heater to warm up the room before bed for my wife and me. I addressed this issue with the builder before our 1-year warranty, and they...Read more
Dear Monty: I am a new agent. A relative asked me to co-list their home with an agent they knew. We both work at the same brokerage. I was to receive a portion of the listing commission with the split between us skewed toward the experienced agent. The experienced agent was to train me, be my mentor and share in future commissions on business ...Read more
Dear Monty: I live in a two-family house that my sister and I inherited. It was free and clear of a mortgage. A few years back, my sister wanted out and wanted her half of the value, so I needed to take a mortgage on the house to pay her. At the time, I could not take out the mortgage in my name, so my son took it in his name. He does not live...Read more
Dear Monty: We are nearing retirement age and thinking of changing our housing situation. We see people we know or hear about making choices that surprise us. There seem to be many more living options today. There also appear to be more paths to get there. Selling a home, ownership choices, renting and where to live are examples of subjects ...Read more
Dear Monty: I am interested in buying a home. However, I just found out today that there is another offer on the house. I have not made an offer yet, but I don't want to unless I know how much the other offer was. I want to know whether I should offer more. Are they (seller or seller's agent) allowed to tell me what the offer is to bid more?