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It's very possible there's a VA exemption on the house, which would significantly reduce the taxes for the present owner. When someone different who doesn't have this exemption takes over the RE tax bill, they may be in for the surprise of a large tax increase.
Which is why when buying or selling property, one should always look at (and compare) true taxes.
There are a number of different exemptions available--but they don't all apply to everyone.
As a buyer, my advice is to pull it from the market and relist in the spring. The winter is usually slow anyway for real estate. As for who you will list with is up to you. Do you really feel your friend has done a good job? She has brought in many prospective buyers to view your property? She has held a good number of open houses? She has brought you a few offers? If no to these questions you must put the friendship aside and look for a fresh agent with fresh ideas. No offense to your friend-- but maybe she isn't the right fit for your property.
Also, like many said check local comps to see where you should be priced. If you are even slightly overpriced it will turn people off.
Make sure your house is not overly cluttered. Make it as attractive and neat as you can on the inside as well as curb appeal.
Lastly -- the taxes can be a very big deterrent. If I were you I would begin the process of fighting your taxes regardless....Most properties are overly assessed and can be reduced even a little bit. Once a buyer knows the process has begun they will feel better.y
And, what's to stop anyone from making an offer 75K less than the asking price, just to see what happens? My take is that if someone really wanted it, they'd make an offer, no matter what their financial situation may be!
As for making a lowball offer some people will do that if they come see the property and like it-- but if you are priced too high you are turning off people even considering coming to LOOK at the property.
And, what's to stop anyone from making an offer 75K less than the asking price, just to see what happens? My take is that if someone really wanted it, they'd make an offer, no matter what their financial situation may be!
As for making a lowball offer some people will do that if they come see the property and like it-- but if you are priced too high you are turning off people even considering coming to LOOK at the property.
I guess it depends on asking price.... $75K on $1M you might be ok. I'm currently in contract for a house that was listed in the $400s I stopped by at an open house b/c I was curious. However, wouldn't consider making an offer when priced there. It was reduced eventually to the $300s, I went and saw it again, and made an offer. contract price is about $65K off of origional list. if I came in and did that when it was listed in the 4s I don't think I would have gotten the house.
having looked at houses for the past year, from what i see, you can't really buy for much of a discount off of current list, I've tried. overpriced sellers just don't seem to be able to see that they are overpriced. Seems to take time and the market to get them there. Although I haven't hit the situation yet, I've heard plenty of stories where someone puts an offer in on an house and it eventually sells for less than their offer, a few months later.
All agents are required by law to present all offers no matter how low. I don't know any agent that would withhold an offer, especially in this market. If that is the case, which I sincerely doubt, you have grounds to fire the agent immediately, friend or no friend. Is your home on more upscale websites like NY Times, Wall St journal? Do you have enough interior quality,pictures, virtual tours? Does your agent follow up on all inquiries and showings? If there are no inquiries or showings you need to adjust the price and possibly marketing efforts. Another agent may have a fresh perspective and ideas to get your home sold. It could be as simple as re arranging the pictures, re writing the description, and placing your home on different sites. The key is do something different! Doing the same thing over and over again is certainly the definition of insanity.
The agent insisting you get a pre approval from a certain bank is only protecting you and the homeowner from disappointment one week from closing. You don't have to use them, but a back up would be nice in the event your "trusted source" surprises you within 1 week of closing, saying they can't do the loan. It happens more often then you think .
Do not sign an exclusive with any one realtor. The more the merrier.
Are you talking about an "Exclusive Right to Sell" or an "Office Exclusive"? There is a big difference that many people do not understand. An Exclusive Right to Sell means that you will not list the property with any other real estate agency. All agents, however, can have access to the listing if you permit your agent to place it on MLS. An Office Exclusive means that only that real estate agency who listed the home has the right to sell it. It will not be exposed to other agencies.
If you are referring to an Office Exclusive, I am in complete agreement with you. If you mean an Exclusive Right to Sell I would strongly disagree.
Another variation on this is an "Agency Exclusive". That is the same as an Exclusive Right to Sell but you retain the right to sell the property yourself without owing anyone any commission. Many agencies will not take this type of listing.
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