My husband and I are buying a new house that is more suitable for our needs and our growing family. We want to put our current house on the market but would like to move into the new home before the new baby comes in June. Well were afraid that the current house won't sell before then due to the market and the town that the house is in right now isn't the most desireable due to flooding, but our home is on high ground and doesn't flood. We know that at this time we would not be able to afford 2 mortgages until this home is sold. So we would like to rent out the current home to cover the 1st mortgage and only have to worry about the mortgage on the new home. What do you think about this idea and also is there anything that I would need to specifically state in the contract with the renters if it was a month to month lease about the sale of this home? Also if this home is on the market and we need to hold open houses and the realtor needs to show the home would we need to include that?
NO we are not going to buy the other house until we get this figured out. We do have the funds for 2 mortgages but it would be tight and we do have the money for the down on the new house. More than likely we are going to make the offer on the new home contingent on the sale and closing of the current home, for all of you bashing me thinking I have no clue what I'm doing, I just wanted your advise on if we had issues in selling the current home. Also where we live we own 10 acres with the current home and where we live that is very attractive to buyers.
You can rent it out while its on the market, just keep in mind that to show the house you have to give notice (at least 24 hours in my state). There also may be some stipulations you have to put in the rental agreement, i.e. house has to be relatively clean, must move out within 30 days of sale, some things like that. Now if they dont move after the sale has been completed that can be a violation of the sale contract, and the buyer may be able to walk away (I've heard of this happening a few times); Id talk to a lawyer just to be safe.
I listed a home 3 weeks ago. The agent has said his best sales tool is his website. It took him 1 week to get it on his site (only because I called him) and 3 weeks later he has still not corrected the mistakes on it. His "Hotsheet" which is supposed to have all his listings does not have my home on it. He placed an ad in the paper but it wasn't distributed in the same part of town as the house. I have held Open Houses and not seen him around. I need to sell this house NOW and he hasn't even shown the house to a prospective buyer! How long do I wait to fire him? What can I do to get his butt into gear?
I just wanted to add that the advertisement that was placed in the news paper went to the NW part of Phoenix and the home is in the SW part… the NW part of town is where majority of the retirees live.
Also, the open house was with his knowledge, in fact… it was in the ad he placed!
I think that due to the fact in Phoenix the real estate agents didn't have to do anything 1 year ago to sell a house… they don't know how to lift a finger and actually do some work to make their sales happen. I think they have gotten lazy… but thats just my opinion.
(With all due respect to ALL the messages)
OK…there are many contradicting advices that you've been given. Some say that you are stuck until the listing contract expires others tell you that you can cancel it any time. You might be asking, which one is it?
This is what I can tell you, a contract has 2 or more agreeing parties, meaning they have a meeting of their minds for one objective. The same way if both parties decide to cancel the contract it can be done as well. With that said, I suggest you first go talk to the employing broker (usually the owner of the company the agents works for) and let him/her know the shitty (excuse my French) this agent has done and if they dont want to be mentioned to the Better Business Bureau, the Federal Trade Commission AND the Department of Real Estate in your state than they better shape up that agent to actually do some work. If you rather not work with him anymore tell them nicely that you want the contract cancelled and release you from the listing with them because of the work ethic of that agent.
I seriously suggest you do not get all upset and demand things because they can make your life miserable. The contract CAN be cancelled but they can give you hell before and you seriously do not need that, you just want an agent that will work for your best interest not his/hers.
So, all in all YOU CAN FIRE an agent if he is not performing, all you have to do is have them release the listing and cancel the contract. Of course that if you end up selling the home to someone that this agent has brought the attention to the house and could have possibly sold it to them than the agent is entitled to the commission.
One last thing which I want to make it very clear, DO NOT take this message as legal or contractual advice. I am very aware of the law and because of this I cannot give you legal advice that is what lawyers are for. BUT all I told you above is my opinion and it could be very beneficial to you if you enforce it.
Good luck and next time dont wait so long to fire an agent that is not performing. Your home is the best investment you will ever make in your life so you should safeguard it like such.
He said that you usually attract curious neighbors and that only
5% of houses sell as a result of an Open House. He thinks it is more of an opportunity for realtors to find perspective sellers.
Although he is very willing to hold one for me, I have never heard this opinion before.
He will be "advertising" extensively for me, including virtual tours.
Open houses generally don't sell the house. In addition they are becoming increasingly less popular, since some open houses are used by thieves to 'case the joint' for the quality of potential loot. As well, if an open house draws a bunch of folks at one time, it's next to impossible for the agent to watch all of them, and on occasions 'items disappear'.
You might be wise to listen to this agent.
Assuming we give 24 hour notice. We have a property we're trying to sell privately, and want to have an open house this weekend, but the tenant doesn't want us to. Says he doesn't have to according to the Oregon laws. But, according to the stuff I can find, it shows that we can enter to show to "potential buyers". He seems to think that means we can only show to one party at a time, and not hold an open house, because that invades his privacy. We're on a month to month contract, and has been paying his rent roughly on time every month since the lease option contract expired in Dec 07. He's been there for a year and a half.
I hate tenants right about now…
http://www.osbar.org/public/legalinfo/1247.htm
I did some digging, and was able to find that ( not confirmed by attorney ), while legally he might have to allow us, he has right to refuse a 24 hour notification. But, he does not have the ability to repeatedly refuse. I was told that Oregon judicial system would side in favor of tenant in first attempt, but would start to lean toward the side of the owner after repeated notification attempts. And, particularly, if some sort of compensatory amount was offered for inconveniencing the tenant, like a per diem rent reduction. I'd still like to confirm or deny this. Guy should be out in six weeks, but I don't want to wait that long to start selling the property with full force.
Yes, he has to allow the open house. You do have to tell him 24 hours in advance, but he has no options, unless he wants to buy it himself.
No, the house has been sold, just not closed.
We gave our landlord notice at the beginning of the month and now she is holding 2 hour open houses practically every day of the week. This is invading our privacy and messing with our schedules. Is there a limit to the number of open houses she can hold or is she allowed an unlimited number provided she gives 24 hour notice? I understand she needs to rent the place out but holding an open house everyday for 2 hours is getting very tiresome and there’s still 2 weeks left. We live in California btw.
Moviebuf, what you're saying is a load of crap. You pretend as if you're doing us a FAVOR. Don't forget, we pay you a hefty rent that more than likely allows you to own those properties in the first place and pay your mortgage. Tenants have rights and you have no right to violate them no matter what the reason.
IRead you lease. In my leases I always stipulate that I can show the unit between 8 am and 8 pm after I have received notice that a tenant is moving. Usually I try to call but if I get no answer I use my key to show the unit. Keeing units rented is the only way that a landlord can stay in business. I know that lot of people don’t like landlords but what would be world be like if everybody had to buy their own place to live and was unable to rent an apartment. We have insurance, taxes and payments on the properties that we own. So if it seems unfair buy your own place and then you can do what ever you want
Kye Grace is holding a 72 hour open house to attract attention to a million dollar property in Gastown, Vancouver. Let’s tour the condo before the interview…
Duration : 0:4:50
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Technorati Tags: 72hoh, condos, Gastown, Kye Grace, Vancouver
I want people to feel comfortable and not pressured while looking at the house, so I was thinking about holding my own Open House. Maybe that makes people more uncomfortable having the owner there? I have a realtor though, so I don't know if this is ok to do? Also, I don't want nosy neighbors coming in and I can prevent this if I'm the one holding the Open House.
Actually people feel much more uncomfortable with the owner around. It makes the experience much more "viewing their house" then "is this my house". Your Realtor will have a much better chance of helping people visualize this as their home instead of yours.
I always feel very noisy when the owners are around and try to get out of there ASAP.
I want to have an open house in my place. I wish to cook by myself, let the guests try my special cuisines and have a wonderful time chatting with people. How to prepare for it? Do i really need a theme? I am only 22. My friends include people from 20-50. I have no idea how they can mix together in an occasion. I would find some helpers but basically I want to hold it on my own. What should I be care about?
If I have about 25 guests. Can I let them come in different time and I serve them seperately?
It sounds like a great idea and I think you will be amazed at how all of your various friends mix together. Make sure that the party area is uncluttered so that you have room for all of those people. 50 people take up a lot of space. You might need to move furniture etc. If you have a connected porch, balcony, patio or garden you should encourage people to congregate there as well by leaving doors open and some food/drink options available in those areas as well. Maybe put a bar/soda or coffee/dessert area on the patio for instance. Secondly, try to do as much as you can ahead of time. Do most of your cooking in advance so that it just has to be popped in the microwave or oven. Its hard to estimate just how much people will eat so I would also have a supply of packaged goods (crackers and cheese, etc. in the cupboard just in case…..As for a theme, go with the season (spring, fall, etc.) in terms of decorating and food offerings. Other than that I don't think a theme is really necessary. Oh and don't forget you will need to buy extra rolls of toilet paper and periodically check the bathroom during the party to make sure everything is stocked.
I have my house on the market in Ohio. Ohio is very slow in sales right now. The house has been totally renovated in 2006 using corian, cherry woods, new carpet, ect. We are not getting any bites and I'm wondering if holding an open house will really generate any serious buyers.
I think it's more important to get your house on the "tour" of the realtor boards for your area. In Ohio that's usually a day when your local realtors visit 4-6 houses in their area once a week to "check it out". If you have a realtor make sure she or he gets your house scheduled for that tour day to give other realtors an opportunity to recommend your home to their prospective buyers. I just came from just such a meeting in Sunbury (Fridays), and the one in Delaware meets on Wednesdays.