posted on July 15, 2002 10:19:19 AM new
I have a house and some land that I would like to put on the market for sale. Being that I inherited this property from relatives, and all I've ever done is rent, can anybody tell me how I go about finding a realtor and what a reasonable percentage would be so I don't get "ripped"? And before anybody recommends that I go live in this house.....I am living in a house that was inherited from parents, so I don't really need two.
posted on July 15, 2002 11:34:43 AM new
Go with a broker that belongs to a large national franchise. The independants are where you have most of your problems of setting out of the market rates and acting against their clients interests.
The rate is usually pretty even in an area here ist is 4 to 6 % for enpty land or land with buildings. If you knock 'em down much an a property you are in danger of not having them spend the advertising etc they would normally. Just be sure it goes on the multilist because that's where your sales come from.
If there is a real strong sellers market in your area you can sell it yourself with a little help from an attorney that knows real estate law in your stste - not just any attorney - I have been to closings where the attorney challaged everything and made an ass of himself when nothing was wrong because he didn't know the specialty and wanted to look like he was earning his fee.
posted on July 15, 2002 11:55:56 AM new
prcm, do you live in the same area as this property? If so, you could talk to neighbors who have recently sold (if they're still around) and see if they would recommend the agent they used. Interview a few brokers - ask what they would do to sell the house, what recent comps have sold for, ask for references. As gravid said, put it on multiple listing. Would it be feasible to keep it as a rental property? If it's similar to other properties in the area, www.realtor.com may give you an inkling of its worth (or at least the price being asked).
posted on July 15, 2002 01:13:23 PM new
I live one county away from the property. It's just so out of the way from anythingor anywhere I go that it has become a white elephant of sorts. I tried to use it as a rental property once, so that the rent would kinda pay for the taxes and insurance on the place, but all that got accomplished was the people who rented it really trashed it. As it is now, I've got soe heavy duty repairs to make. Such as having a bathroom completely re-done from where there is water damage.
posted on July 15, 2002 01:15:39 PM new
As for asking the neighbors about local realtors, I think I have the only property that some one isn't actually living on or it.
posted on July 15, 2002 01:17:11 PM new
Excuse me, I have the only property that some of the original owners aren't living in or on. ( Sorry, sometimes my fingers aren't as fast as the brain.)
posted on July 15, 2002 01:21:16 PM new
>>I tried to use it as a rental property once, so that the rent would kinda pay for the taxes and insurance on the place, but all that got accomplished was the people who rented it really trashed it.<<
I know somebody who just couldn't see ltheir house a while back and rented it. The tenants destroyed the place to the point of removing fixtures. She was able to recupe thru her insurance, sold the plaaace as-is, and did much better than shr would have she just sold it outright.
