Buying or Selling a Home/Selling

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Expert: Jim Root - 11/19/2008


Question
Here is the deal

My fiance and I are splitting. We just bought a home about 4 months ago.

Got the home for 91000
have the balance down to 90000

I put some work into it so its probably worth 95000 on the market

So assuming I sell it for 95000

what is it going to cost to list it with an agent and sell it?

Answer
TOM--

MANY "Full Service" Realty Companies charge between 5 and 7% as a Listing /Selling Fee! These Commissions are NEGOTIABLE, however, and MOST Sellers agree to pay 6% of the Sale Price to the Realtors on Closing of the Home to a New Owner! So, if sold at $95,000 @ 6%, your fee to the Real Estate agents/companies involved would be a total of $5700.(In addition, a Seller has some other costs, such as Excise taxes, Share of Closing Attorney Fees, Title Insurance , etc. Possibly another 1 to 2% of Sale Price!)

There are many "HELP-U-SELL" OR "FSBO HELPER" Companies out there that will provide various LIMITED SERVICES for a Flat Fee--for a few thousand dollars they'll help YOU sell the home yourself!

The Real Estate market is in bad shape; sales are down, way down! It's a "Buyers Market," NOT a "Sellers." You'll need all the help you can get! I strongly suggest that you use a Full Service Real Estate Broker to get your property sold quickly and at the TOP DOLLAR!

GOOD LUCK!

--JIM

Buying or Selling a Home

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Jim Root

Expertise

How to select the right Real Estate Salesperson & Loan Officer--ones who will serve your best interests! House-hunting tips & suggestions on selection of the home best for your family needs. Introduction to the Home Buying Process & all the "Players" involved.What is of utmost important to the Homebuyer? Real Estate Contracts & Negotiations, Appraisal needs, Title Co. involvement, Home Inspection issues& the Closing/Escrow systems, etc. Whatever your question, the answer will follow, whether from personal knowledge or research! Gale, shown here with me, has been a Real Estate Office Administrator, licensed Realtor & has served as my Research Assistant over the years!

Experience

Over 30 years as a "Real Estate Professional." including Real Estate Marketing & Sales, Appraisal work, Mortgage Banking & as a Realty Officer with U.S Dept. of HUD's FHA Homeownership Division in Alaska, Washington & Idaho! Some experience in Montana, California, Utah & Nevada markets!Knowledge of National Markets by continuous Research!

Organizations
Former member of Nat'l Ass'n of Realtors (NAR) & Mortgage Bankers Ass'n of America (MBAA). Currently with National Association of Review Appraisers & Mortgage Underwriters (NARA/MU).

Publications
Published in various local, state, regional & national Real Estate-related magazines & newsletters!Co-author of various Govt. publications on Homeownership, Appraisals & Mortgages while with HUD/FHA.

Education/Credentials
Associate Degree in Real Estate Studies plus: Numerous Real Estate-related Courses conducted by the U. S. Government & Private Industry over the past 30 years. Bachelors Degree in Mass Communications, Masters Degree in Education/Teaching

Awards and Honors
Professional Designations: Certified Residential Originator (CRO) from MBAA, Registered Mortgage Underwiter (RMU) & Certified Review Appraiser (CRA) from NARA/MU. Outstanding Peformance Awards for 10 of the 12 years with HUD/FHA & numerous Sales/Listing Awards while a licensed Real Estate Agent.

Past/Present Clients
No longer selling/listing Real Estate, nor Appraising properties, nor working in the Mortgage business, this "Real Estate Pro" serves as Director of a Company that provides Professional Development Seminars & Workshops to the "Real Estate Industry" and provides free (as needed) & fee-paid (on a sliding scale) consulting & inspection services to members of the general public.Your questions will be answered without "salesmanship" & with your best interests in mind!

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