Nolo's Essential Guide to Buying Your First Home by Ilona Bray & Alayna Schroeder & Marcia Stewart

Author:Ilona Bray & Alayna Schroeder & Marcia Stewart [Bray, Ilona & Schroeder, Alayna & Stewart, Marcia]
Language: eng
Format: epub, pdf
Tags: Law, Business & Economics, House buying, Property, Real Estate
ISBN: 9781413306286
Publisher: NOLO
Published: 2007-05-15T07:30:19.488000+00:00

• If the house has other problems, do they happen to be ones you can live with or feasibly change?

For example, when retired Realtor® Carol Neil was helping her daughter househunt in the always-competitive San Francisco market, she found they were getting outbid, and couldn’t locate anything suitable for an acceptable price. So Carol went into the MLS and searched for listings tagged “expired” or “price reduction.” Carol says, “It’s wise to watch price reductions and visit the properties to see what the original ‘flaw’ was: cosmetics, price, or the property itself.”

Carol’s search led to a house with a view of the ocean and within walking distance of the elementary school that her grandsons attended. The problem? It was overpriced, because it smelled of cigarette smoke and was badly decorated, with tacky pink curtains and carpets—totally fixable, but hard for buyers to look beyond. The seller had rejected the only bid, expecting multiple, higher offers. When Carol’s daughter came in four months later offering a price that accounted for the house’s problems, the seller at last became realistic and accepted.

How’d They Sell That House?

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