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Kansas City real estate and community news blog featuring Olathe and Overland Park, Kansas.
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Going FSBO in Kansas City . . . Does it make sense?
Why do most FSBO's in Kansas City decide to sell FSBO? To save the commission.
Why do home buyers in Kansas City who buy a FSBO, decide to buy FSBO? To save the commission.
How can the FSBO and the FSBO buyer both decide to save the some money. Simply, they can't.
So it makes sense about the real estate information that Homegain.com just released from the months of research they just finished, that both the FSBO home seller and buyer can't save the some money and that nearly 90% of the real estate lawsuits in the USA involved no real estate agent in the transactions.
Makes sense to me. I spoke to two title company closers this morning about the information released and was surprised about their take of the information. One closer said that she will never close a FSBO real estate transaction with the buyer not being represented by a real estate agent. The other title company closer said that her title company charges FSBO's and unrepresented buyers a higher closing fee.
Both title company closers mentioned that disputes over interpretation of wording on the real estate contract come up when the settlement statement gets released.
Another problem, according to the title company closers, is known issues around the home do not get disclosed to the buyer. If the buyer and seller can't work out a remedy, the closers said that the buyers and sellers try to draw them in.
Both title company closers were not surprised that nearly 90% of the FSBO sellers and unrepresented buyers end up into a legal dispute.
If you're thinking about either selling FSBO in Kansas City, I would suggest having an attorney draw up the real estate contract and disclosing all know material defects about your home.
If you're thinking about buying a Kansas City home without a real estate agent, I would suggest having an attorney review the real estate contact and having a seller's disclosure be an integral part of the real estate contract.
Need help or suggestions on how to stay out of a legal dispute? Contact the Dowell Taggart Team.
RE/MAX sells more homes than any other real estate company. For a reason...should we talk? Another blog post written by:
Comments are appreciated! Go ahead and add your 2 cents . . .
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Question: The REALTOR selling our home is also the Realtor for the new home subdivision where our new home is being built. Is the Realtor going to make commission off of both sales? The reason why I'm asking is they're doing nothing to sell my home other than placing a sign in the yard and placing it on MLS. Can we ask them to lower their real estate commission? Jerry T. from Overland Park, Kansas
Answer: Jerry, if you're under a contract with your Realtor for selling your home, you have already agreed to the commission. As for the purchase, the builder on that side is the one paying the commission so you don’t have the ability to change that one since you are the buyer. You can always ask for a change in the amount being paid – but if you signed a contract the Realtor may hold you to that.
It is common for new home real estate agents to not aggressively market their resale listings. They owe their time and marketing to the developer of the subdivision. When selling a home, I always recommend reviewing your options BEFORE you sign on the dotted line.
RE/MAX sells more homes than any other real estate company.For a reason...should we talk?Another blog post written by:
Comments are appreciated! Go ahead and add your 2 cents . . .
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According to the monthly RE/MAX Insights Report, real estate agents say that 1 in 5 home buyers pays cash for their homes with an average cash discount of 15%.
RE/MAX sells more homes than any other real estate company. For a reason...should we talk? Another blog post written by:The Real Estate Wizards of Kansas City
Comments are appreciated! Go ahead and add your 2 cents . . .
Short sales, foreclosures, luxury homes, investor homes, first time home buyer homes, land, investment properties and move up buyers. Gardner, Olathe, Overland Park, Leawood, Lenexa, Shawnee, Mission, Merriam, Prairie Village, Basehor, Tonganoxie, Lansing, Leavenworth, Spring Hill, Eudora, De Soto, Edgerton, Platte City, Smithville, Gladstone, Liberty, Riverside, Independence, Lee's Summit, Pleasant Hill, Raymore, Belton, Grandview, Raytown, Waldo and the surrounding Kansas City communities.
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According to the monthly RE/MAX Insights Report, 34% of the home buyers are first time home buyers and 33% are home owner's who are upsizing or downsizing.
RE/MAX sells more homes than any other real estate company. For a reason...should we talk? Another blog post written by:The Real Estate Wizards of Kansas City
Comments are appreciated! Go ahead and add your 2 cents . . .
Short sales, foreclosures, luxury homes, investor homes, first time home buyer homes, land, investment properties and move up buyers. Gardner, Olathe, Overland Park, Leawood, Lenexa, Shawnee, Mission, Merriam, Prairie Village, Basehor, Tonganoxie, Lansing, Leavenworth, Spring Hill, Eudora, De Soto, Edgerton, Platte City, Smithville, Gladstone, Liberty, Riverside, Independence, Lee's Summit, Pleasant Hill, Raymore, Belton, Grandview, Raytown, Waldo and the surrounding Kansas City communities.
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According to the monthly RE/MAX Insights Report, 28% of the real estate agents surveyed say that high end homes are in good to very good demand.
RE/MAX sells more homes than any other real estate company. For a reason...should we talk? Another blog post written by:The Real Estate Wizards of Kansas City
Comments are appreciated! Go ahead and add your 2 cents . . .
Short sales, foreclosures, luxury homes, investor homes, first time home buyer homes, land, investment properties and move up buyers. Gardner, Olathe, Overland Park, Leawood, Lenexa, Shawnee, Mission, Merriam, Prairie Village, Basehor, Tonganoxie, Lansing, Leavenworth, Spring Hill, Eudora, De Soto, Edgerton, Platte City, Smithville, Gladstone, Liberty, Riverside, Independence, Lee's Summit, Pleasant Hill, Raymore, Belton, Grandview, Raytown, Waldo and the surrounding Kansas City communities.
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Home buyer backs out of purchase of Leawood, Kansas home and causes home seller problems - What can be done?
Question: I sold my Leawood home with a contingency to close the buyer's home to a home buyer last month.The home buyer had their home sold, it just needed to close. The buyer had also done inspections on my home and requested repairs. I agreed to fix the repairs and I had hired a repairman to fix the requested repairs. Now here is the problem. The buyer backed out of our contract 12 hours before closing. I was told that their buyer backed out. In reality, I just found out during my sons soccer practice that that was not true. The buyers got cold feet and backed out of both deals. The buyer really put me in a bad situation because we had already paid the movers and closed on our home in Overland Park. Other than keeping the earnest deposit can I sue for damages? John M. from Overland Park, Kansas
Answer: Sorry for your real estate problems, John. In a normal situation, John, I would say get your home back on the market and try to sell it as quick as possible. In your situation, since there maybe some expensive damages, I would consult with a real estate attorney.
RE/MAX sells more homes than any other real estate company. For a reason...should we talk? Another blog post written by:The Real Estate Wizards of Kansas City
Comments are appreciated! Go ahead and add your 2 cents . . .
Short sales, foreclosures, luxury homes, investor homes, first time home buyer homes, land, investment properties and move up buyers. Gardner, Olathe, Overland Park, Leawood, Lenexa, Shawnee, Mission, Merriam, Prairie Village, Basehor, Tonganoxie, Lansing, Leavenworth, Spring Hill, Eudora, De Soto, Edgerton, Platte City, Smithville, Gladstone, Liberty, Riverside, Independence, Lee's Summit, Pleasant Hill, Raymore, Belton, Grandview, Raytown, Waldo and the surrounding Kansas City communities.
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According to the monthly RE/MAX Insights Report, 85% of the RE/MAX real estate agents surveyed predict that the home prices will remain stable or climb in 2012.
RE/MAX sells more homes than any other real estate company. For a reason...should we talk? Another blog post written by:The Real Estate Wizards of Kansas City
Comments are appreciated! Go ahead and add your 2 cents . . .
Short sales, foreclosures, luxury homes, investor homes, first time home buyer homes, land, investment properties and move up buyers. Gardner, Olathe, Overland Park, Leawood, Lenexa, Shawnee, Mission, Merriam, Prairie Village, Basehor, Tonganoxie, Lansing, Leavenworth, Spring Hill, Eudora, De Soto, Edgerton, Platte City, Smithville, Gladstone, Liberty, Riverside, Independence, Lee's Summit, Pleasant Hill, Raymore, Belton, Grandview, Raytown, Waldo and the surrounding Kansas City communities.
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Question: I'm in the process of buying the home I rent in Overland Park, Kansas. The problem is my landlord is selling the home as a "Short Sale." My landlord’s real estate agent has prepared a hardship letter to his loan company asking them to accept a short sale… but he said that she needs us “the potential buyers” to get a prequalification letter from our mortgage lender. We got pre-approved for a mortgage in the amount the home is listed and sent it to the landlord's real estate agent. The real estate agent said he wants to show the mortgage lender that “the potential buyer is willing and able to pay the current assessed value of the home.” Is this normal or what? I just want to hear what someone else that is in the business thinks. Thanks.–Candy from Overland Park, Kansas
Answer: It’s normal if you really want to buy the home and can really afford the home. When a short sale is being considered the mortgage company will look at the purchase contract between landlord and you, the potential home buyer. The mortgage lender wants to view the pre-approval letter, copy of the earnest money deposit in escrow, and the sales contract.
Hope this helps, Candy.
RE/MAX sells more homes than any other real estate company. For a reason...should we talk? Another blog post written by:The Real Estate Wizards of Kansas City
Comments are appreciated! Go ahead and add your 2 cents . . .
Short sales, foreclosures, luxury homes, investor homes, first time home buyer homes, land, investment properties and move up buyers. Gardner, Olathe, Overland Park, Leawood, Lenexa, Shawnee, Mission, Merriam, Prairie Village, Basehor, Tonganoxie, Lansing, Leavenworth, Spring Hill, Eudora, De Soto, Edgerton, Platte City, Smithville, Gladstone, Liberty, Riverside, Independence, Lee's Summit, Pleasant Hill, Raymore, Belton, Grandview, Raytown, Waldo and the surrounding Kansas City communities.
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Question: If we’ve entered into an “Exclusive Right to Sell” Listing with an agent to sell our Olathe home, but we found buyers ourselves, is it reasonable to expect the Realtor to accept a reduced commission on the sale? If the Realtor is not amenable to this idea, is it reasonable for us to deny him the opportunity to be our buying agent, or to demand that he accept reduced commission for such?–James T. from Olathe, KansasAnswer: With an exclusive agency it doesn’t matter where the home buyer comes from. You must agree to the terms in the signed contract unless it is amendable. Real estate contracts are not amendable by only one party. Both or all parties need to agree to changes in writing. It’s important to remember that one of the primary reasons that you are hiring a Realtor is for their knowledge of the process and guidance to the settlement table. Prior to the home going into the MLS, your REALTOR has helped established a list price, helped prepare your home for sale and started the marketing.
Your Realtor shouldn’t be faulted for not bringing a Buyer within the first 30 seconds of you deciding to sell your house. Are you certain this is the best possible offer? Remember that the terms are just important as the sales price. Have you verified the Buyer’s pre-qualifications? Is the buyer really qualified?
What if there is a defect with the title? What if the inspections turn up a big issue? Are you comfortable with handling all of these hiccups? It is rarely in your best interest for your listing real estate agent to bring in their own Buyer. They will no longer be able to look out for your best interests. I’ve often told my home seller that getting the home buyer's offer is the easy part these days. The real work starts with negotiations and closing the real estate contract. That’s where having a real estate agent truly make a difference.
As a home seller you are looking at a small portion of the transaction. Remember all of the other elements of your move. Selling and buying.
RE/MAX sells more homes than any other real estate company.For a reason...should we talk?Another blog post written by:The Real Estate Wizards of Kansas City
Comments are appreciated! Go ahead and add your 2 cents . . .
Short sales, foreclosures, luxury homes, investor homes, first time home buyer homes, land, investment properties and move up buyers. Gardner, Olathe, Overland Park, Leawood, Lenexa, Shawnee, Mission, Merriam, Prairie Village, Basehor, Tonganoxie, Lansing, Leavenworth, Spring Hill, Eudora, De Soto, Edgerton, Platte City, Smithville, Gladstone, Liberty, Riverside, Independence, Lee's Summit, Pleasant Hill, Raymore, Belton, Grandview, Raytown, Waldo and the surrounding Kansas City communities.
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Question: We currently have a 30 year FHA loan and we have been in our Overland Park house for 12 years. My wife and I have heard that this is a great time to buy because house values have hit their bottom. We have decided to buy bigger a house here in Overland Park. How do we go about selling our current house and purchasing a bigger house?
Adam & Kerry H. from Overland Park, Kansas
Answer: First, you are right that houses in Overland Park may have hit their bottom and that it is a great time to buy a house. I would first contact a real estate marketing specialist in Overland Park. Have them provide you with a Comparative Market Analysis to see what your house is worth. After reviewing the comparable sales for your house, you will have a good idea what you can sell your house for and whether you can make the next step of selling your current house and buying a bigger house.
RE/MAX sells more homes than any other real estate company.For a reason...should we talk?Blog post written by the Dowell Taggart Team of RE/MAX Premier Realty Comments are appreciated! Go ahead and add your 2 cents . . .We have 3 easy steps to find you the perfect home . Click here to get started, today! Short sales, foreclosures, luxury homes, investor homes, first time home buyer homes, land, investment properties and move up buyers.
Gardner, Olathe, Overland Park, Leawood, Lenexa, Shawnee, Mission, Merriam, Prairie Village, Basehor, Tonganoxie, Lansing, Leavenworth, Spring Hill, Eudora, De Soto, Edgerton, Platte City, Smithville, Gladstone, Liberty, Riverside, Independence, Lee's Summit, Pleasant Hill, Raymore, Belton, Grandview, Raytown, Waldo and the surrounding Kansas City communities.
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Question: My buddy and I have been having a lively discussion about real estate agents buying properties in Kansas. My buddy sold his Olathe home to a real estate agent who did not disclose that she was a real estate agent. Do Olathe real estate have to disclose that they're a licensed real estate agent? Jon D. from Overland Park, Kansas
Answer: Yes, it is legal for an Olathe, Kansas real estate agent to buy property but they are required to disclose in writing that they're a real estate agent in the State of Kansas. Typically this is done by adding the verbiage "The buyer is a licensed real estate agent in the State of Kansas" in the real estate purchase contract.
RE/MAX sells more homes than any other real estate company.For a reason...should we talk?Another blog post written by:The Real Estate Wizards of Kansas City
Comments are appreciated! Go ahead and add your 2 cents . . .
Short sales, foreclosures, luxury homes, investor homes, first time home buyer homes, land, investment properties and move up buyers. Gardner, Olathe, Overland Park, Leawood, Lenexa, Shawnee, Mission, Merriam, Prairie Village, Basehor, Tonganoxie, Lansing, Leavenworth, Spring Hill, Eudora, De Soto, Edgerton, Platte City, Smithville, Gladstone, Liberty, Riverside, Independence, Lee's Summit, Pleasant Hill, Raymore, Belton, Grandview, Raytown, Waldo and the surrounding Kansas City communities.
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Question: I'm thinking of selling my home in Kansas City, Missouri. All 5 of the real estate agents I have interviewed have said that the schools are affecting the value of our home. Approximately how important is the quality of the schools to potential home buyers buyers?Larry J. from Kansas City, Missouri
Answer: Thanks for the question, Larry. I agree with the 5 real estate agents you have interviewed. Schools are important. Home buyers like homes in good school areas whether have school age children or for the future when they decide to sell.
I market in areas that home buyers request because they have heard about the schools and the request those ares by their school districts. There is no city called Blue Valley. Ask any relocation agent and the most requested community in Kansas City for relocation home buyers is the Blue Valley area, a school district area.
Are homes any better in the Blue Valley area. No. Matter a fact, I showed a home yesterday for $690,000. I had showed a similar sized home with more bells and whistles in the Brookside area for $329,000.
Schools will affect the real estate values in a neighborhood. Good schools will have a positive affect and poor performing schools will have a negative affect.
Home buyers, especially relocation home buyers, will take the schools into consideration, when buying a home. Schools are important.
RE/MAX sells more homes than any other real estate company.For a reason...should we talk?Blog post written by the Dowell Taggart Team of RE/MAX Premier Realty Comments are appreciated! Go ahead and add your 2 cents . . .We have 3 easy steps to find you the perfect home . Click here to get started, today!Short sales, foreclosures, luxury homes, investor homes, first time home buyer homes, land, investment properties and move up buyers.
Gardner, Olathe, Overland Park, Leawood, Lenexa, Shawnee, Mission, Merriam, Prairie Village, Basehor, Tonganoxie, Lansing, Leavenworth, Spring Hill, Eudora, De Soto, Edgerton, Platte City, Smithville, Gladstone, Liberty, Riverside, Independence, Lee's Summit, Pleasant Hill, Raymore, Belton, Grandview, Raytown, Waldo and the surrounding Kansas City communities.
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If your Kansas City home squeaks and creaks when you walk across the floors, you could be scaring potential home buyers away. Most Kansas City home buyers will figure the squeaky floors are a major problem. I have had home buyers guess that the home sellers spilled water on the floors and now they are warped to home buyers thinking the floors will fall through. No matter what, home buyers will not be happy with the squeaky floors.
Do your best to identify the source of squeaky floor sounds and resolve the issues. While you're at it fix any holes in the walls also.
RE/MAX sells more homes than any other real estate company.For a reason...should we talk?Blog post written by the Dowell Taggart Team of RE/MAX Premier Realty Comments are appreciated! Go ahead and add your 2 cents . . .We have 3 easy steps to find you the perfect home . Click here to get started, today!Short sales, foreclosures, luxury homes, investor homes, first time home buyer homes, land, investment properties and move up buyers.
Gardner, Olathe, Overland Park, Leawood, Lenexa, Shawnee, Mission, Merriam, Prairie Village, Basehor, Tonganoxie, Lansing, Leavenworth, Spring Hill, Eudora, De Soto, Edgerton, Platte City, Smithville, Gladstone, Liberty, Riverside, Independence, Lee's Summit, Pleasant Hill, Raymore, Belton, Grandview, Raytown, Waldo and the surrounding Kansas City communities.
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I recently had a relocation Kansas City home buyer make this comment: Wow, that Kansas City Home has been on the real estate market a long time. I'm sure that seller is willing to negotiate, right? One of the interesting aspects of real estate is to listen to the way home buyers go about their home search. They typically miss the important stuff. How the home is arranges, stages and the length of time the home has been on the real estate market has no bearing on whether it is a good choice. Home buyers will often have completely opposite views on what areas of an MLS listing is important. One that is often discussed is how long the Kansas City home has been on the market. Most home buyers are even clever to notice when a home has been listed multiple times. Some home buyers like to look at homes that have been on the market for a long time - their rationale is that the home seller really needs to sell and is tired of having their home on the market so they are most likely willing to negotiate on a sales price. Even if the home has had multiple price reductions. Other home buyers feel that long listing histories indicate that a home may have severe mechanical and/or structural problems. Other home buyers have passed so why don't they. The reality of the home buying process is that both of these approaches could be right – or they could be wrong. Since every home seller has a different reason for selling and a different approach to marketing their home, every home needs to be evaluated independently. The length of time a home has been on the real estate market is not a good indication of the sellers willingness to negotiate. In fact, a home may be on the market for a long time because the seller refuses to negotiate. Likewise, there are some excellent homes on the market that have always been runner ups and have been passed on for no real reason. The Kansas City home buying market is very fickle. Some Kansas City neighborhoods and cities will see high demand for a particular style of home or price range – while other homes that don’t meet that criteria are totally unwanted. The market is so fickle that in two months the reverse could be true. Rather than using the length of time a home has been on the real estate market as a criteria for making home buying decisions, use the criteria that is really important to your home buying needs. Price, size, location, and special needs should be your top primary concerns. Who knows? You may find two homes in Kansas City you love – one that has been on the market for two years and one that was listed yesterday. The outcome for either home could be the same when it comes to condition and the seller’s willingness to negotiate.
RE/MAX sells more homes than any other real estate company.For a reason...should we talk?Blog post written by the Dowell Taggart Team of RE/MAX Premier Realty Comments are appreciated! Go ahead and add your 2 cents . . .We have 3 easy steps to find you the perfect home . Click here to get started, today!Short sales, foreclosures, luxury homes, investor homes, first time home buyer homes, land, investment properties and move up buyers.
Gardner, Olathe, Overland Park, Leawood, Lenexa, Shawnee, Mission, Merriam, Prairie Village, Basehor, Tonganoxie, Lansing, Leavenworth, Spring Hill, Eudora, De Soto, Edgerton, Platte City, Smithville, Gladstone, Liberty, Riverside, Independence, Lee's Summit, Pleasant Hill, Raymore, Belton, Grandview, Raytown, Waldo and the surrounding Kansas City communities.
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Deciding to sell or buy a home in Kansas City is a big step. To make sure it's a step in the right direction, choose the real estate team best qualified to handle your real estate needs: The Dowell Taggart Team has a team of real estate professionals that have extensive qualifications. Averaging 10 times the production and more advanced industry education than other agents, the Dowell Taggart Team are "The Real Estate Leaders" in quality customer service. Customer satisfaction is reflected in their high, industry-leading rate of repeat and referral business. Affiliation with the global RE/MAX network provides Associates with multiple competitive advantages in serving your real estate needs. From national television advertising to personal advertising controlled by Associates, RE/MAX enjoys brand-name recognition worldwide. Belonging to the real estate network with the most market presence and market share, the Dowell Taggart Team of RE/MAX have the most to offer you. While most real estate agents try to level the negotiating field, the Dowell Taggart Team aims to create an Unfair Advantage for our clients. So, take a step in the right direction. Contact the Dowell Taggart Team, Today!
RE/MAX sells more homes than any other real estate company.For a reason...should we talk?Blog post written by the Dowell Taggart Team of RE/MAX Premier Realty Comments are appreciated! Go ahead and add your 2 cents . . .We have 3 easy steps to find you the perfect home . Click here to get started, today!Short sales, foreclosures, luxury homes, investor homes, first time home buyer homes, land, investment properties and move up buyers.
Gardner, Olathe, Overland Park, Leawood, Lenexa, Shawnee, Mission, Merriam, Prairie Village, Basehor, Tonganoxie, Lansing, Leavenworth, Spring Hill
Eudora, De Soto, Edgerton, Platte City, Smithville, Gladstone, Liberty, Riverside, Independence, Lee's Summit, Pleasant Hill, Raymore, Belton, Grandview, Raytown, Waldo and the surrounding Kansas City communities.
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