Dear Monty: What are the pros and cons of homebuyer love letters that many real estate agents suggest to homebuyers? We will soon be looking for a home, and we are in a market that remains overheated. People in our circle of influence have a variety of opinions about love letters. Do you have any ideas you can share?
Monty's Answer: Love ...Read more
Dear Monty: What is the best way to interact with the city assessor? Can you guide us on market value versus assessed value? More specifically, what factors dictate assessed value? When we purchased our house, the real estate agent went to great lengths informing us that the potential for the market value to rise is very high. He mentioned ...Read more
Dear Monty: Are oral statements binding in real estate transactions? The seller requested 30 days after close. She moved out before closing and has a new residence. At closing, she made a verbal agreement with everyone in the room. The title officer, both real estate agents and I heard her say she would be out in 14 days. When the time limit ...Read more
Dear Monty: We recently read an article urging homeowners to update their homes before putting them on the market. According to the writer, the rationale for doing so is that homebuyers are attracted to up-to-date homes. The writer states that these homes bring more buyers, so the competition between buyers is likely to get a seller more cash....Read more
Dear Monty: My husband and I are in our seventies. We are thinking about leaving our home to our kids when we are both departed. We are a close family, and they all enjoy coming home with their kids. We have received advice from our friends. Some think it is a beautiful idea, and others think it is not a good idea. Any thoughts you could share...Read more
Dear Monty: My neighbor's tree fell on our property. It destroyed our brick fence, and we have significant damage to the garage. My insurance agent gave me a very vague response about the insurance adjuster determining liability. She said she would come out in the next few days. She also hinted that my policy might pay for the damage. How can ...Read more
Dear Monty: We are first-time home buyers. Being rookies, we get lots of advice from family and friends. Still, the process is different with everyone giving us advice. We would appreciate step-by-step guidance on exactly what we should be doing all the way through. How do we make an offer on a home?
Monty's Answer: Making an offer is just ...Read more