When it Comes to Bidding on Investment Property, Elsa Offers Sage Advice

If you have small kids, then you know all about Let It Go!   Yeah, come at me Walt!  Come at me!

Anyway, the phrase should be used much more often than it is in the high speed, lunacy filled world of property auctions.  If you're ready for some Arkie wisdom, read on.

If you're still bidding hotly during the last minutes of the auction, particularly if you're above your predetermined maximum, then you need to let it go!

Get a clue!  There's a reason why auctions get extended voluntarily and it's to take advantage of the undisciplined, win-at-all-costs crowd.  I've seen a lot a $ lost this way, and almost anyone is susceptible (the truck I'm driving now reminds me of this every day).  Beware and don't let the excitement and your emotions override fact based decision making.


If you have some misgivings about the property, AND you find yourself rationaizing with assertions like "well I'd live there," then you need to let it go!

We all have some experience or we wouldn't be investing.  To completely discount your "gut feelings" is typically fraught with peril.  Taking an investment risk should not involve arrogant foolishness and it certainly isn't always rewarded! 


If you suspect there's a significant defect with the property that a GENERAL contractor likely can't handle, then you need to let it go! 

If your home inspector or contractor has body language that is telling you they are concerned or worried about one or more aspects of the property, that's their experience telling them to avoid trouble.  To honor that is to prevent going down a path that you will collectively regret.


If you are certain you've singlehandedly identified the one valuable thing about the property that everyone else overlooked, then you need to let it go!

Undervalued property is a cruel myth.  If it's available for purchase, then someone assigns a value to it for one or more reasons.  Overpriced properties abound for any number of reasons as well, but I have yet to find a parcel that was truly being "given away" in a financial transaction.  Things like "we could build another house on this oversize lot and double our money!' make great television flip or flop show antics, but that's because it's H o l l y w o o d.  In the real world, 15 or more people already thought of or tried to do it already and failed for whatever reason and you're just the latest one with the epiphany there o' chosen one...


If you're bidding primarily based on one key valuation factor or you're bidding sight unseen, then you need to let it go!

The old adage "a fool and their money are soon parted" is apropos.  Purchasing based on one overriding criteria is a myopic delimma called evidence bias and it has led to some of history's greatest calamities.  Buying sight unseen is for the super rich and not to be done lightly by mere mortals.  Stay in real world and make an honest, well researched, ROI.  The excitement should come from success and accomplishment, not from going white knuckled through the purchasing and reselling process.

 Happy Hunting!

 

A Deck to Die For!

Every Spring/Summer the warmer weather brings flowers, grass cutting, cook outs, and, sadly, tragedy.  Deck failures and collapses kill friends and family (who else is going to be hanging out there) every year.  But, it doesn't have to be that way...

It all starts innocently enough...

A homeowner watches a DIY channel enough times, checks out a few YouTube videos, and then sleeps on the idea that they too can build a fully functional deck--saving thousands that would otherwise go to some overpriced, "know-it-all" contractor.  When they awake, they are suddenly endowed with the carpentry skills and engineering principles that would take mere mortals decades of hard lessons to learn.  Ladies and gentlemen, I present to you--"Harry," the self made handyman! 

The DIY challenge begins...

Harry draws up some plans, usually on college-ruled notebook or copier paper, stamps them with the coffee-cup stain--proving their authenticity, and then writes up his materials list.  Happy with his progress thus far, he then heads off to Home Depot to purchase the materials in his mid-sized car.  Quickly realizing that his Japanese princess and lumber aren't a good combination, he reluctantly agrees to the delivery fee and resigns himself to await the blessed arrival.  Time marches on...  Eventually, the great day arrives and Harry then discovers that several of the items he thought he bought aren't in the shipment.  Back to Home Depot, and so it goes.  Days drag into weeks, but Harry finally gets started digging the holes for the 4x4 posts he's going to build the deck upon.  As he's digging the holes, he thinks to himself, I'm already saving money, these posts are lighter and cheaper than those heavy, ugly greenish ones they had on the other aisle...

Where's an inspector when you need one?

Unfortunately, Harry doesn't know about permitting, inspections and such.  After all, they never mention these things on TV or YouTube, so they must not be all that important...right?  Nobody intervenes, and Harry continues building.  Sometimes he uses screws, sometimes nails, always a little at a time.  He eventually gets some help from his buddies, equally endowed in the construction arts of course, and the deck nears completion... 

Time to party like its nineteen, ninety, nine!

The day of reckoning has arrived and the christening of the deck occurs with a suitable celebration.  Friends and family all come out to admire Harry's handiwork, some even ask if he ever thought about being a contractor.  It's Harry's day!  Best of all, the newly built deck is awesome and nothing bad happened at all.  Those who warned him along the way were just being jealous!  Two summers so far, and the deck, although a bit squeaky in some spots, is still as awesome as ever!

Grandma arrives for Harry's July 4th extravaganza!

The party to end all parties is finally here!  Even grandma and her award winning potato salad are coming over!  In preparation for the festivities, Harry gives the deck a once over, drives in a couple of screws here and there, and proclaims the deck ready for the event.  Everything is going swimmingly!  What a great day!!!

Image result for public domain images gloating

Call 9-1-1!!!

Decks fail catastrophically when under loads.  The results are often tragic as most guests congregate near the edges/railings; thus, they usually wind up with everything else on top of them...

Leave deck building, especially if it's going to be elevated any distance at all, to the professionals.  If you think you can handle it yourself, at least get a building permit and have a trained County professional inspect your handiwork.  Your guests don't want to die in your back yard...

 

 

 

 

Beware! Fake Contractor Scams Also Blossom in the Spring...

Deferred home maintenance is oft-times caused by an aversion to confronting the fear of being taken advantage of (much less the thought of spending more money).  There are several things you can do as a homeowner to help yourself, but probably one of the most important is to adopt some basic guidelines that will serve you well in warding off the majority of scams that con men are out there with this year. 

 Image result for public domain images handy man sign 

Surefire signs of early Spring!

 

Homeowner's Guide to Springtime Contractor Hiring Decisions

License = accountability and security

Maryland has several requirements that it levies on its licensed trademen; and most of these are solely for the benefit of the homeowner (a.k.a. taxpayer).  To hire an unlicensed individual is to deprive the honest tradesmen of business, but, perhaps more importantly, it removes several key protections/benefits from the homeowner.  For example, if the guys you decided to hire off of Thumbtack, Craigslist, or Home Advisor are not licensed, and most aren't by the way, and they cause significant damage to your property, the only recourse you have is a civil suit--and that's only IF you can properly identify them.  Remember, there is no effective screening performed on individuals using or paying for these services.  Thumbtack and Home Advisor both make their money off of the people they're referring their leads to and their overriding criteria for "contractor" participation essentially boils down to the ability to pay their fees.  Additionally, there have been times when criminals have posed as tradesmen to "case" a house for a future burgalry (or worse).   Most typically, the unlicensed individual is going to do slipshod work and still expect to be paid.  The drama is rarely worth the perceived savings, so why go there?  Also, don't just take their word for it, look them up and check them out!    DLLR MHIC license search hyperlink

Deposits <= 33 percent of the project and should always be specified in a written MHIC contract agreement

It's not uncommon for a contractor to ask for a deposit to cover the up-front costs of materials, permits, etc.  By COMAR, a licensed MHIC holder can not charge more than 1/3rd of the contract's total value as a deposit.  If you're being asked for more than that, something isn't right.  Also, beware of verbal agreements.  Insist on getting the most significant items in writing within the contract document, and KEEP A COPY OF EVERYTHING!  If changes do occur, ask for a written summary--to include costs--so that there are no nasty surprises.  Also, don't expect that your seemingly innocuous color changes, etc. are going to be free.  Having to spend an extra few hours applying primer to a darkly painted room that you now want white again isn't going to be something that will be done without someone (read, the person requesting it) having to pay for it.  Just make sure you nail down how much extra it's going to be beforehand...

Social media and references matter

In today's marketplace, you simply can't rely solely on the online reviews anymore.  There are several motives for bogus reviews, and there are plenty out there.  Forensic analysis of some of the reviews we've looked into has found that the same exact phrases often appear on more than one site!  Most reputable businesses, contractors included, have a social media presence that can be reviewed by prospective clients.  Additionally, it's "okay" to talk to past customers, ask the contractor for pictures of projects in the before-during-after stages of past projects, and to verify the owner actually belongs to the house being photographed (via publicly available County property records).  Adherence to this one principle would foil the vast majority of the frauds out there...

Organization affiliations make a difference

If there's a professional trades or business association and the contractor you're considering doesn't subscribe to them, ask them why.  Affilation with professional organizations shows a commitment to professionalism that should parlay into a higher quality outcome on your project.  Belonging to the Better Business Bureau, etc. goes a long way in making sure you're dealing with a ligitimate business and actually comparing "apples to apples."  A word about the sea of Internet referral services out there: if you're getting the referral at no cost to you, who do you think is paying for it (and why)???!!!

Beware of BOGUS claims of background checks, etc.  EVERY SINGLE ONE OF THESE REFERRAL SERVICES IS SUBJECT TO MANIPULATION AND FRAUD!!!  

Best defense is to hire a locally referred contractor who maintains a reputable, verifiable business.  Don't get fooled by slick, seemingly endless advertising and don't scammed by the guy referred to you by that free web-based referral service that HE/SHE IS PAYING FOR!"  In other words, you are not really getting "referred," rather you are being "steered" to the person paying for the "advisor" services you think you're getting for free.  Think about it...

Responsiveness and attitude matter as much or more than the actual contract

A policy isn't what's said or written, it's what is actually done... A contractor who doesn't return phone calls or e-mails within a reasonable amount of time is probably not going to change after the contract is signed and the deposit paid.  If the tradesman is agreeable and flexible with most of the requests, then you've probably hired the right one.  This is the guy or gal who puts the customer's desires ahead of their own (provided, of course, that the customer is being reasonable and isn't asking for "something for nothing").  Also, does it really hurt to insist on an arbitration or mediation clause?  Sure, you can sue them if you wish, but wouldn't it be easier (not to mention faster and cheaper) to have a means, such as Better Business Bureau, the MHIC Commission, et al, arbitration to make sure you have a workable means to compel an errant service provider to do the right thing... Think about it and then insist on this feature in your MHIC contract.  You can learn more about MHIC contract requirements at this hyperlink DLLR Notice of MHIC Contract Requirements  

MHIC contract rules have changed for seniors--be sure to insist on your hard-earned rights!

Maryland has recently enacted significant contract changes in MHIC contracts, under amendments to the Door-to-Door Sales Act, for senior citizens (65-years or older) when hiring for work on their homes.  You can read up on these requirements at this hyperlink DLLR Explanation of Recent Sales Act Changes

Be the grown up in any disagreements with your contractor!

A final word of advice.  All contractors have had their share of unreasonable, overly-demanding clients.  Unfortunately, this has been the underlying cause of many of the almost pathological responses we hear about from time-to-time.  Reputable contractors are professional business owners.  That means they pay their taxes, keep their insurance in place, and have sage legal counsel to keep them out of trouble.  If you're the type that likes to immediately threaten litigation (or a butt whupin) the moment something isn't going your way, be sure you KNOW what you're doing first.  In many cases, verbally or physically threatening a service provider will immediately void any express or implied warranty related to their work, or worse, could actually result in civil or criminal charges AND involuntary enforcement of the contract.  Be the grown up in any disagreements.  If things aren't working out, arbitrate, mediate, or litigate--DO NOT ATTEMPT TO INTIMIDATE.  The same holds true for the threatened homeowner.  If you're uncomfortable with the behavior or attitude of one of the contractor's employees or subcontractors, you have the right to insist that they be replaced.  Keep in mind though that the contractor may have to amend the agreement to cover additional, REASONABLE costs associated with this.  Not all subcontractors will do the work for the same price, and a short-notice replacement of an employee will most likely extend the duration of the project, etc.  Still, it may be worth it if your safety/peace of mind is shaken by a personality you'd rather not put up with...

 

 

 

 

Holy Crapper! Check Your Commode Annually to Protect Yourself From Water Bills That Shock & Awe

High water bills are often caused by leaking toilets. Water can flow through an open fill valve at a rate of three to five gallons per minute—that’s up to 4,000 gallons of water being wasted each day! According to our local utility in Arkansas (a lot cheaper rates than where we spend most of our time), this would equate to roughly $18/day.  Imagine getting the monthly water bill, expecting it to be $50ish and seeing $540!!!  The bottom line is that a toilet leak can cause a significant increase in your water and sewer bill, don’t wait to have it repaired. If you cannot make the necessary repairs yourself, call a licensed plumber. We recommend that you test each toilet in your home for leaks once a year.

How to Check for a Toilet Leak
  1. Place one teaspoon of food coloring into the tank of your toilet.
  2. Wait 10–15 minutes. Do not flush the toilet during this time.
  3. Look inside your toilet bowl.
If the water in your toilet bowl is clear, your toilet does not have a leak.
If the water in your toilet bowl shows color from the dye, you have a leak. This means that water is leaking from the tank into your toilet bowl. The quicker the dye appears in the water, the more significant the leak.

What can cause a toilet leak?

The two most common causes of a toilet leak are the flapper or fill valve. To check for these leaks, lift the tank lid and look at the back wall of the toilet tank. You will see a water line that marks the level at which water fills the tank. Mark the actual water level with a pencil, then flush the toilet and watch the tank refill. If the water rises to a level above the pencil mark (and then goes down afterward), then you probably have a flapper leak. If the water level rises to a point below the pencil mark and then rises above it, you probably have a faulty fill valve.

  • Flappers can become warped or damaged over time, preventing a watertight seal on the flush valve. In-tank toilet cleaners are large chemical tablets or containers of chlorine liquid intended to help keep the toilet bowl clean. These can damage the flapper by corroding the rubber parts inside your toilet tank. Chemicals can wear away toilet flappers and other parts in the toilet tank, voiding the warranty and causing leaks. Some newer flappers are made to be chlorine-resistant, but even with newer flappers the use of these in-tank cleaners is still risky. The damage caused by in-tank cleaners is often the result of a toilet not being flushed for a long period of time, such as when a house is empty. Without flushing, the chlorine content of the tank water increases and is more likely to wear away the flapper.
  • The flapper, trip lever, or chain may no longer align with the flush valve, leaving a gap which can cause a leak.
  • Over time, grit or sediment can cause small cuts and other damage to the flush valve which can result in a leak between the flush valve and flapper.
  • A change in your home’s water pressure can cause water waste to flow down an overflow tube causing the fill valve to become stuck in an open position.

How Do I Repair a Toilet Leak?

If your toilet was manufactured after 1994

If your toilet was manufactured after 1994, it is likely that your toilet uses 1.6 gallons per flush. You can confirm this by looking for a “1.6 gpf/6 lpf” imprint on the back top surface of the bowl behind the back of the toilet seat. You may want to consider investing in a new high-efficiency toilet for better flushing performance, saving your family about $7 per person per year.

  • Replace the Flapper

    There are some common replacement flappers on the market for water-saving toilets, but not all of them will fit your toilet. You should always make sure that the new flapper is adjusted correctly for your water-saving toilet. Look for products with a five or ten year warranty.

  • Replace the Fill Valve

    If you have a faulty fill valve, you can either replace it yourself or call a licensed plumber to make the repair. Do not replace an old fill valve that has a float ball with a new fill valve that has a float ball. Instead, use a new piston-valve type fill valve. This device is often called a “Fluidmaster valve” and is manufactured by Fluidmaster, Korky, and American Standard.

    There are also fill valve products that help to prevent the constant filling and draining of a toilet tank that is often caused by a toilet flapper leak. These products guard against constant refilling by ensuring that a leaking tank is refilled only when the toilet is flushed. If the flapper leaks, these products will allow the tank to drain first and will ensure that the tank remains empty, rather than constantly refilling. The next time someone flushes the toilet, they will have to flush twice—once to refill the tank and a second time to flush the toilet. This prevents water waste caused by a constantly refilling toilet. Fluidmaster’s Leak Sentry Pro 400LS” and the “HydroClean” are examples of such fill valves.

  • If your toilet was manufactured before 1994

    If you have a toilet manufactured prior to 1994 and are deciding whether to repair or replace it, you may way to consider investing in a new high-efficiency toilet. High-efficiency toilets use less water and can save you about $30-$40 per year for each person in your home. These toilets use flappers that are resistant to chlorine corrosion which can help prevent leaks, and they have improved fill valves that do not leak like old-style ball cock/float valves.

  • If you have a flushometer-valve toilet

    Many residential toilets do not have tanks. Instead, they use a flushometer-valve toilet with a hand valve that is attached to a pipe coming out of the wall. This type of toilet does not have many moving parts but leaks can still occur. If you have a flushometer-valve toilet, take the following precautions:

    • If you see moving water in the bowl after the toilet has been flushed, this means the valve is leaking and needs to be repaired or replaced.
    • If the water to your home has been turned off, do not flush the toilet during this time. Wait until the water is turned back on, then flush the toilet once or twice to make sure any air is thoroughly vented from the system and the valve is able to open and close properly.
    • So-called “phantom flushes” can be caused by pressure changes in your building and should be investigated by a licensed plumber.

 

 

FSBO Selling in Annapolis: Is it for You & Who Should Be on Your Team?

Realtors are an extremely useful professional to have available, when you need them.  The fact is that with the Internet, their utility in some markets--particularly this one--is indeed questionable in many but the most atypical cases.  A couple of caveats/disclaimers before we begin.  1. For Sale By Owner (FSBO) isn't for everyone.  If you're a nervous Nellie, suffer from one or more anti-social personality disorders, or you are just too busy and need to have someone else handling potentially problematic minutae, then it isn't for you.  2. Only a professional who doesn't rely on Realtor referrals will ever tell you this, of which I am one.  3. There will be those who will throw out all types of excuses and accusations regarding this article (particularly folks who need the gullible to continue to pay exorbitant amounts of their hard earned equity for their "services").  I'm sure that the afflicted and impuned can attest that they earn every single penny of their sales commission ad nauseum.  To them, as well as the rest of the offended in the studio audience, I say do what I do and prove it.   Just because something has always been done (like lemmings jumping over the cliff to their collective doom), or it's repeated or chanted over and over again does not make it an advisable course of action, much less make it a fact or true... Finally, this article assumes that the seller is not in an upside down, pre-foreclosure, or other unique/atypical situation.  The majority of FSBO sellers have been in their home for some time and have built up some equity (their house is worth more than they owe on it), know their house has a few, potentially significant maintenance or repair issues (they are non-delusional), and understand that their preferences and tastes are not necessarily shared by others (they are reasonable).  If this doesn't describe you or your situation, then you should seek the services of a professional Realtor. 

Mindset is the first order of business.  The five-Ps--Proper Planning Prevents Poor Performance--is particularly useful in getting from the decision to finally sell your "asset," to the closing and eventual property transfer.  In other words, it takes a lot of work to get to market both efficiently and effectively.  To begin with, this is no longer your home, it's an asset (if it's a real liability, then go back to the first paragraph and reread for advice).  The second order of business is to realize that you need a "team" to perform several of these functions.  Note that FSBO has more letters in it than DIY.  I like to think that's because it takes the efforts of a few more people than yourself to make the sale happen.  So, who should be on your dream team?

In order to compete effectively in the market, you must hire an appraiser to find out the asset's current value prior to listing.  Realtors claim to be able to do this as part of their service, and most have a general idea of what a particular home may go for (and how long it will take), but they ARE NOT TRAINED NOR LICENSED TO PERFORM THIS FUNCTION.  Don't want to see your house languish on the market for months on end? Hire someone who has no ulterior motive than to properly valuate your property...  1st TEAM MEMBER-APPRAISER: Getting an accurate, timely appraisal is the most critical step to accomplish prior to listing.  Having this report helps you figure out what to price the house for and this information will also assist greatly in determining cost-benefit of potential repairs/renovations/upgrades and future negotiations with potential buyers. Note that an appraisal is an evaluation of an asset's value vis-a-vis other, similar assets nearby.  It doesn't magically negate years of wear and tear, dated appliances, or neglected maintenance or repairs.  Also note that an appraisal is a snapshot in time.  Getting one too early might negate its utility.  Finally, note that your buyer will probably have to have another appraisal done if they're getting financing.  They will rarely have a say in which appraiser the bank will use, and it's highly unlikely that your appraisal will do for this purpose.  There's nothing wrong with giving your buyer this information for their own use--including their forwarding it onward to the next appraiser.  The next appraiser can choose to review or discard it entirely, but at least they know it's been done recently before they begin their own evaluation.

2nd TEAM MEMBER-INSPECTOR: Getting an honest evaluation of the asset's material condition is the best way to identify the "delta" between the market value of the home and the inevitable devaluation offset caused by required repairs and replacements.  The best way to get this is to find a licensed, reputable home inspector that can find the defects prior to listing in order to get them corrected.  The inspection report then becomes the "to do list" that can then be shopped around to licensed contractors to get their repair proposals in order to make the selection.  A little Internet research is key to selecting the right professionals for your "team."  Don't have a clue as to who might be available in your area?  Click here to go to MD DLLR's REAL and MHIL lookup page.  Oh, by the way, make sure the home inspector releases the report for your unrestricted use.  Some agreements restrict distribution to the primary client, which could get problematic if you want to use it in your marketing efforts later on (i.e. if you wanted it available for review by potential buyers).  A final word: don't hide knowledge of material defects hoping nobody will notice.  Even if everyone else, including your infallible inspector, misses something significant (like your hidden, abandoned underground storage tank) you could be held liable for failure to properly disclose this information to the buyer.  Blaming the inspector isn't going to magically transfer the liability for lies of omission (feigning lack of knowledge) any more than it will for lies of commission (overt attempts to hide or deceive).  You don't want to be on the receiving end of this type of litigation, so bring up these issues to the inspector -preferably in writing via e-mail, etc.-before the inspection and make sure to transfer this info to the required real estate disclosure forms and your attorney/title company.

3rd TEAM MEMBER-HOME IMPROVEMENT CONTRACTOR: Finding a licensed, reputable, RELIABLE, and reasonably priced contractor is key to "getting r dun"...  This project needs to be focused and time-bound.  Insist on a no-kidding MHIC compliant contract with a firm fixed price for the work.  Ask for references, and above all, make sure that you have a good contractor point of contact to reach out to in the event problems/issues arise.  THIS IS NOT THE TIME TO GO TO THUMBTACK OR TO CRUISE THE HOME DEPOT PARKING LOT FOR HELP.  A prospective buyer is going to want to see evidence of proper permitting and required licensure on any significant work performed.  This also moves the liability for potential future problems with the work to the tradesman--where it belongs!  Don't risk a DIY nightmare or lawsuit.  Just do your due diligence and find the right guys for the job.  Click here to inquire about MHIC license holders in your area.  It goes almost without saying that you want to keep complete, legible receipts of all paid invoices (along with their appropriate license number); copies of cleared permit paperwork; and, if applicable, any contractor/subcontractor lien releases to provide future buyers.  You really don't want this to become an issue later (before or after closing), and if the contractor you're considering isn't willing to provide or doesn't know what a lien release is, find someone else... 

4th TEAM MEMBER-HOME STAGER AND/OR PHOTOGRAPHER: This profession has limited regulation, so you're going to have to do some research to find someone who really knows what works, and most importantly, what doesn't work to effectively prepare and present the asset for the Internet market.  Oh sure, there's other ways to advertise--in lah-lah land--but, unless you're ready to hit the Multiple Listing Service (MLS) with everything you've got from day one, you're adding needless frustration and delay to an already stressful process.  Even if you're pretty good with a camera and think you're all that and a bag of chips with interior decorating, I don't recommend that you DIY.  Remember, this should be a dispassionate, professional protrayal of your asset with the sole goal of getting it sold for the highest dollar--it's not the time to show the world your creativity...  Be sure to ask for references and to request a viewing of their portfolio.  Two reminders.  1. You get what you pay for; and, 2. Watch out for their follow-on referrals to other real estate consultants (you can figure out why on your own). 

5th TEAM MEMBER-REAL ESTATE ATTORNEY:  There are several good ways to find a competent real estate attorney and title company to handle the inevitable contracts and documentation required to complete the closing and property transfer to the new owners.  There are lawyer referral Web sites and the Better Business Bureau can recommend local title companies, but there are other resources out there as well.  Make sure you inform the folks you're considering that this will be a FSBO sale.  This helps them with figuring out the overall costs of doing business with you, and they're going to be much more helpful in most cases knowing that you don't do this every day.  A word of advice.  These folks live in the billable hour world.  If you call them with every single question or concern (most of which you can find out on your own), expect to pay their rates for this service ($150-$450 an hour in the DC area).  Maybe your time and money could be better used doing your own homework for the more germane information gaps.  Of course, if it's a matter of contract law or state/local required documentation, it's best to leave this type of thing for your attorney.  Please note that it's a matter of law that the seller can ask to switch or independently hire their own team members too, but being diplomatic, flexible, and reasonable during the purchase agreement negotiations (in the beginning) will help negate most conflicts.

6th TEAM MEMBER-ONLINE ADVERTISING & THE MULTIPLE LISTING SERVICE PROVIDER:  You MUST BE ON THE INTERNET TO EFFECTIVELY MARKET YOUR HOME.  FSBO services are available locally and on the Internet, and you should exercise due diligence in making a selection.  We have sold several properties without using a Realtor in four different states over the past few years, and we have had good luck with this provider For Sale By Owner.com Web Site, but there are other providers too.  The important thing is to make sure that you're going to be comfortable with the services being provided and their support throughout the process.  Some advice: 1. If it won't post your listing to the MLS, walk away.  2. Make certain that all contract documents and disclosures are reviewed by your attorney/title company BEFORE you attempt to use them.  Buyers are a skittish lot and trying to get them to redo paperwork, no matter how seemingly trivial, is anything but.  Try your dead level best to get this right the first time by reviewing these requirements with the folks you'll be closing with beforehand. 

OTHER TEAM MEMBERS-YOUR SOCIAL NETWORK: The fact that your former home is for sale should be spread like a middle school rumor.  We've seen several instances where Realtors were paid thousands of dollars in commission for almost effortless, quick sales made to the seller's own friends, family, and associates.  Easy money for them, lost equity and profit for the seller.  You just never know who you know that might know someone, anyone, in the market for a house like yours.  In short, let everyone know and be as candid as possible without shooting yourself in the foot.  For example, stating that the unfinished basement has always reminded you of a Mediveal torture chamber (dark, foreboding, etc.), is probably going to be rebroadcast or taken out of context in any number of really creative ways that could be prejudicial to your efforts to sell the property.  Maybe a few comments about how much your kids really enjoyed the school, how your neighbors are saints, etc. might be apropos.  Of course, watch out with the puffery.  The charming pit bull chained to rusty bumper of your neighbor's derilict 1967 Impala isn't really going to get any better no matter how you try to sugar coat it...

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