We have our home listed for sale with a realitor. we are 3 months behind on mortgage and were told that we are going into foreclosure. If they start foreclosure can we still sell the house?

You can. You have to close escrow before the foreclosure date though. Your sale will not stop the foreclosure until what you owe has been paid off in full.

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I’ve noticed a couple of listing that state 2 bathrooms in the listing and then in the comments it states extra bath in basement. I’ve also seen that for bedrooms as well. Do they not include whatever is in the finished basement towards the square footage, total bathrooms and bedrooms?

square footage is usally considered living space if the basement is not finished it wont be inlcuded. although some realtors will include it in square footage. you sometimes will also see gagares included in square footage. living space square footage is what you are looking for!

My home was appraised at $338,000 8 weeks ago. I have dropped the selling price down to $275,000. Still no offers. My market is very soft due to over surplus of homes being sold. I can’f afford to drop into the 260s. I’m thinking of de-listing my home for a month or so. Is this a wise strategy? I’m thinking it will be a fresh, new listing with new potential buyers then.

There is nothing wrong with my home, it’s just the market sucks right now and not much is selling unless sellers are willing to really take a beating. What to do?

I have a listing right now that is in the exact same situation, it is very frustrating for my sellers and myself as well. I think the best thing you can do is keep it on the market another 8 weeks. Truth is this is the buying season and even though the market is slow this is the best chance you have to sell so I wouldn’t pull it just yet. I would try to ramp up your marketing efforts and Open Houses, get some exposure on the new price and advertise that it is below apprasied vaule so for the new buyer they have instant equity!! Make sure your home shows like a model, with so much competion out there you have to really make your home shine!! Best of luck to you, email me at srmheath@yahoo.com if I can be of any more help

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It needs of a lot of work. But in a great neighborhood. The current owner just didn’t take care of. Come to find out I actually know the current owner as we ran into one another when going to view the home. I found out through looking at public records that the house was in the Lis Pendens stage of forclosure in Febuary but as of the end of March I guess it was dimissed so he still owns the home. And he is getting divorced so the home is priced to sell fast. But its needs a new roof,gutters, carpet,pressure washing,paint plus the bathrooms and kitchen needs some updating. And thats just what we saw viewing the home. Who knows what an inspector would find. I found out how much he orginally paid for home which was 115,000, then saw he refi at 129,000 last year. The home is listed at 179,900. Whats a good starting offer point? Or am I am being to pressumptious thinking we can get a decent deal on the home? Any advice appriciated.

For an "as is" property first remove $20,000.00 from the retail value of the property. Next, take the square footage of the property and multiply this by $14.00 per square foot. Take this figure from the retail value of the house. You should now have a starting point for decision making on the purchase of this house. The listing price and the the selling price are 2 different things, ask for a market sales analysis. Remove the 2 figures from the market sales analysis as well. Example: Asking $179,900, actually sold for $176,000. That’s an additional $3,900 in savings to you. So you would actually take this additional $3,900 from the asking price. If you are still above his $129,000 financing back off some more $. You will need for 3 contractors to give you an estimate for the repairs that are needed. If their estimates are higher than the square footage times $14.00 per square foot budget set earlier you will need to decide to either reduce the offer further or allow this to eat into the $20,000 first reduction. You can allow the ,eat into, to come from the seller making a counter offer. In any event, $20,000 plus the cost of repairs reduced from the asking or market sales price would seem to be a good starting point for offer making. The $20,000 is your compensation for taking over a property the seller failed to maintain. If you feel this is over compensation, which it isn’t as you will found out. You, of course can change this amount, either up front or in the negotiation process. remember, you can buy every $179,000 house out there, if he needs to sell you this house he will negotiate.

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Ok can any of you other agents out there please help me. I have a home listed I have done Realtor tours, They all say the price is perfect. I do Open House every weekend, it is all over the internet and the Real Estate books, I am even giving a bounus to the selling agent. It has benn on the Market for 49 days. My sellers are happy with everything but I would like to get it sold before the move in their new home in September. Any ideas would be greatly appriciated. Thank you.

Sounds like you’re doing everything right. The market in your area may be slow right now. Why not design an awesome flier for the open house so that potential clients will remember the highlights of the home? We do this with each resale home we market and it really works! Think about it – you show 20 houses to someone – in the end, can they really distinguish which one was which? With a flier or brochure, they can see the photos, measurements and features that will jog their memories and choose the best home for their needs!

I truly wish you well!!!

2219 forest ave. windsor, ontario, canada

Check the MLS listing for that area or contact a local broker they can look it up for you.