Q & A Saturday – When Do I Need Flood Insurance?

Welcome to our Q & A Saturday video.

In these Q & A Videos we will answer your questions about real estate.  Any real estate related topic from questions about  selling your house, buying a house, real estate investor questions, land lording questions, local market questions and many others things are all fair game. 

Today’s question is “When Do I Need Flood Insurance?

In this video Shaun talks about when you will need flood insurance for your house.

 

Some of the main points covered in this video are:

1)      What is Flood Insurance?

2)      What is my risk?

3)      When do I have to get it?

4)      Should I get it if I do not have to?

 

The National Flood Insurance Program (NFIP) was created by Congress in the 60s to help with people that were victims of floods since most homeowner’s insurance policies did not cover these events.  The program is run by FEMA and rates are based on risk levels for a given property based mostly on the location and the expected probability of a flood occurring.

Unfortunately there is a lot of controversy as to how accurate the flood maps are and if these probabilities are realistic.  Also in the last few years many maps have been redone, putting many properties in flood zones that were not before, and rates have increased, sometimes significantly.

The short story is if you are deemed to be in a “High Risk” zone and have a mortgage held by pretty much any back you will be required to have flood insurance.  If you have a mortgage through a private they may require it as well but might not.  If you own the property outright it is your choice to have the coverage or not.  There can be good reason to have the coverage but you also may feel it is a waste of money and would rather self insure (as in pay for any flood damage yourself with money you have set aside for repairs).

Flood insurance has become a much bigger concern the last few years as it can be very expensive now so those costs have made some places very unaffordable for people to buy.  Some changes were made that made things a little easier on people but it has still become a much more important consideration when buying a property than it was even a few years ago.

 

 

Do you have a house in a Flood Plain?  Do you need to sell a house in Massachusetts or New Hampshire and can’t afford the flood insurance?  If you would like to sell your home  fast and hassle free  schedule a consultation  with us today.

 

Hope you enjoyed the video and leave any other questions you have about the topic below or any other topics you would like to see covered in future videos.  I encourage anyone that has things they would like to talk about to let me know what they are.  You can always fill out a contact us form here and put Q & A in the subject, just leave a comment with your questions below here, send an email to info@masshomesale.com, or post it on our Facebook page or Twitter account.

 

Some useful resources:

          The Governments “Flood Smart” website to learn more and see your risk.

          Our main article on Selling a House As Is.

          Our Video on Selling a House As Is.

          All of our posts on Selling a House As Is.

          If you want to sell a house in Massachusetts or in New Hampshire we can help.

 

 

 

 

 

 

(Image credit: Japanese Floods via RT.com)

 

Q & A Saturday – Can I Sell a House with Lead Paint?

Welcome to our Q & A Saturday video.

In these Q & A Videos we will answer your questions about real estate.  Any real estate related topic from questions about selling your house, buying a house, real estate investor questions, land lording questions, local market questions and many others things are all fair game. 

Today’s question is “Can I Sell a House with Lead Paint?

Lead Paint - Selling a House with Lead Paint: Massachusetts and New Hampshire Real Estate

In this video Shaun talks about some of the issues that come up when trying to sell a house that may have lead paint.

 

Some of the main points covered in this video are:

1)      Difference between known hazards and possible ones.

2)      Health issues involved with lead paint.

3)      Possible financing issues.

4)      What you have to disclose.

5)      The proper disclosure procedures.

 

Lead Paint poses a major health risk, especially for pregnant women and young children.  While there are a lot of regulations in place to protect people and force remediation selling a house with it is not one where, at least at this time, someone is forced to remove any of these hazards.  What is required is that any known issues are disclosed and if there are not any for the seller to state they do not know of any existing hazards.  This is a situation where ignorance is a good thing.  J

If you do not have any knowledge of lead paint hazards then you, or your agent, need to make sure that the buyer is given the 10 page EPA lead safe pamphlet as well as any other state documents that may be required.  It is fairly simple to meet the requirements.

A couple of other notes are that if the buyer tests for lead and they find hazards and do not end up making the purchase then you will then have to disclose the findings.  Also if you want to remediate, or do any other work in an area that could be expected to have lead you and/or your contractors need to follow proper lead paint procedures or be subject to significant fines.  Lastly if you are using the property as a rental if you have a tenant that is pregnant or has a small child you will be forced to remediate any hazards so keep this in mind if you are considering this.

 

 

Do you want to sell a house with possible lead paint issues that could hamper your sale?  Do you need to sell an older house in Massachusetts or New Hampshire and are not sure if these issues will kill your sale?  If you would like to sell your home fast and hassle free schedule a consultation with us today.

 

Hope you enjoyed the video and leave any other questions you have about the topic below or any other topics you would like to see covered in future videos.  I encourage anyone that has things they would like to talk about to let me know what they are.  You can always fill out a contact us form here and put Q & A in the subject, just leave a comment with your questions below here, send an email to info@masshomesale.com, or post it on our Facebook page or Twitter account.

 

Some useful resources:

–          All of our Articles and Videos on Selling a Home As Is.

–          Our Main Article on Selling a Home As Is.

–          Our Video on Selling a Home As Is.

–          Our Video on Selling a House with a Bad Roof.

–          Our Video on Selling a House with Old Electrical.

–          Our Video on Selling a House with Unpermitted Work.

–          Our Video on Selling a Home with a Failed Septic.

–          Our Video on Selling a Home with Fire Damage.

–          Our Video on Selling a Home with Mold.

–          Our Video on Selling a Home with a Damaged HVAC.

–          Our Video on Qualifying Your House for an FHA Loan.

–          Our Main Article on Qualifying Your House (and Buyer) for an FHA Loan.

–          If you want to sell a house in Massachusetts or in New Hampshire we can help.

 

 

 

 

(Image credit: Lead Paint via Masek Consulting)

 

Q & A Saturday – Can I Sell a House with a Bad Roof?

Welcome to our Q & A Saturday video.

In these Q & A Videos we will answer your questions about real estate.  Any real estate related topic from questions about selling your house, buying a house, real estate investor questions, land lording questions, local market questions and many others things are all fair game. 

Today’s question is “Can I Sell a House with a Bad Roof?

Damaged Roof - Massachusetts and New Hampshire Real Estate

In this video Shaun talks about some of the issues that come up when trying to sell a house that has roof problems.

 

Some of the main points covered in this video are:

1)      Different levels of damage

2)      What things really must be fixed

3)      FHA financing issues

4)      Other possible financing issues

5)      Homeowners insurance

 

A roof is one of the basic building blocks of any house.  Luckily they are a resilient part and usually last a very long time.  However the life or a roof is not infinite and when an issue does come about it is one of the most important things to fix quickly.  A leaking roof can allow significant water penetration resulting in significant water damage in many different forms to other parts of the house as well.  The biggest issue of trying to sell a house with an old and/or damaged roof is push back from buyers.  A roof that is visibly in disrepair, even if there are no detectable leaks, will be a turn off both aesthetically as well as in terms of planning for future costs of owning the property.  Just having an old roof that appears to still be in good shape might come up in negotiations but is much less of an issue.

The biggest issue will come if there are big problems with the roof.  If there are bare spots with missing shingles, active leaks or something as bad as actual visible holes in the roof there also may be issues around buyers getting financing and home owners insurance.  These will always be issues with FHA or VA type financing and if it is that bad conventional lenders will often not authorize the loan until the issues have been fixed.  While not as cut and dry as some other issues we have talked about in the past (LikeOld Electrical, Broken HVAC system, Failed Septic System… etc.) financing issues can definitely come up with a very bad roof.

 

 

Do you want to sell a house with an older or damaged roof that could hamper your sale?  Do you need to sell a house in Massachusetts or New Hampshire and are not sure if these issues will kill your sale?  If you would like to sell your home fast and hassle free schedule a consultation with us today.

 

Hope you enjoyed the video and leave any other questions you have about the topic below or any other topics you would like to see covered in future videos.  I encourage anyone that has things they would like to talk about to let me know what they are.  You can always fill out a contact us form here and put Q & A in the subject, just leave a comment with your questions below here, send an email to info@masshomesale.com, or post it on our Facebook page or Twitter account.

 

Some useful resources:

–          All of our Articles and Videos on Selling a Home As Is.

–          Our Main Article on Selling a Home As Is.

–          Our Video on Selling a Home As Is.

–          Our Video on Selling a House with Old Electrical.

–          Our Video on Selling a House with Unpermitted Work.

–          Our Video on Selling a Home with a Failed Septic.

–          Our Video on Selling a Home with Fire Damage.

–          Our Video on Selling a Home with Mold.

–          Our Video on Selling a Home with a Damaged HVAC.

–          Our Video on Qualifying Your House for an FHA Loan.

–          Our Main Article on Qualifying Your House (and Buyer) for an FHA Loan.

–          If you want to sell a house in Massachusetts or in New Hampshire we can help.

 

 

 

 

(Image credit: Damaged Roof via Sod@zaa)

 

Q & A Saturday – How Do I Sell a House with Pets?

Welcome to our Q & A Saturday video.

In these Q & A Videos we will answer your questions about real estate.  Any real estate related topic from questions about selling your house, buying a house, real estate investor questions, land lording questions, local market questions and many others things are all fair game. 

Today’s question is “How Do I Sell a House with Pets?

For Sale Sign With Pets - Massachusetts and New Hampshire Real Estate

In this video Shaun talks about some of the issues that come up when trying to sell a when you have pets.

 

Some of the main points covered in this video are:

1)      Options for what to do with your pets

2)      What to do to minimize the “pet effect”

3)      Issues with exotic animals

4)      How many pets do you have?

 

Many people have pets.  A pet can be a wonderful companion and addition to your family.  However selling a house where pets live is a special challenge that can often make the process a lot more difficult.  Living with pets often makes people forget that other people might not and might not even like them.  You might not notice pet dander around the house or odors from your pets since you are so used to it.  However, buyers notice and even those that like pets and have their own can be turned off by this.

There are many things one can try to minimize the impact that your animals will have on the sale process.  The easiest of course is to remove the pets.  If a friend or family member is willing to take them for the duration of you showing and selling the house that can eliminate most problems.  If that is not an option then next is to remove most signs of the pets and clean very regularly.  By this I am saying you should remove any toys, structures, litter boxes or pee pee pads, put away food and water bowls when not in use and generally remove pictures and other memorabilia associated with the animals.  Then do a deep clean to minimize any odors and vacuum at least daily and probably twice daily to keep any dander out of the house.

All of these suggestions are assuming you have no more than a couple of dogs and/or cats.  If you have exotic pets or many pets the issues will be magnified.  If you have reptiles, insects, rodents or some other class of animal that is not as standard having them in the house during showings can be more disturbing to a buyer and cause them to lose interest even faster.  Similarly even if it is just dogs and cats if you have many of them the first set of issues is MUCH harder to avoid.  If you have half a dozen animals in the house it will be very hard to avoid all odors and messes.  In this case you might need to accept it will be harder to sell the place and that offers you get might be lower anticipating the need to clean up after the animals leave the house.

 

 

Do you want to sell a house with pets in the house?  Do you need to sell a house in Massachusetts or New Hampshire and are not sure if Fido and Mr. Whiskers will be an issue for buyers?  If you would like to sell your home fast and hassle free schedule a consultation with us today.

 

Hope you enjoyed the video and leave any other questions you have about the topic below or any other topics you would like to see covered in future videos.  I encourage anyone that has things they would like to talk about to let me know what they are.  You can always fill out a contact us form here and put Q & A in the subject, just leave a comment with your questions below here, send an email to info@masshomesale.com, or post it on our Facebook page or Twitter account.

 

Some useful resources:

–          All of our Articles and Videos on Selling a Home As Is.

–          Our Main Article on Selling a Home As Is.

–          Our Video on Selling a Home As Is.

–          If you want to sell a house in Massachusetts or in New Hampshire we can help.

 

 

 

 

(Image credit: For Sale Sign with Pets via Pet Poo Skiddoo Website)

 

Q & A Saturday – Can I Sell a House with a Dated Electrical System?

Welcome to our Q & A Saturday video.

In these Q & A Videos we will answer your questions about real estate.  Any real estate related topic from questions about selling your house, buying a house, real estate investor questions, land lording questions, local market questions and many others things are all fair game. 

Today’s question is “Can I Sell a House with a Dated Electrical System?

Knob and Tube Wiring: Old Electrical - Real Estate Sales
Fuse Box: Old Electrical - Real Estate Sales

In this video Shaun talks about some of the issues that come up when trying to sell a house that has old electrical work.

 

Some of the main points covered in this video are:

1)      Knob and Tube Wiring

2)      Fuse Boxes

3)      Federal Pacific Electrical panels

4)      Buyer safety concerns

5)      Financing Issues

6)      Homeowners insurance issues

 

Many homes have older electrical elements in them, especially houses in older areas like Massachusetts and New Hampshire.  These older electrical systems do not meet modern building code.  Many are perfectly safe but others do pose safety concerns.  Even those that have been safe pose concerns to buyers that are not sure if they are safe as well as lenders that might not lend on these properties as well as insurance companies that might not issue policies on these houses. 

The biggest issues come from Knob and Tube Wiring then having Fuse Boxes and finally the other big one is Federal Pacific Electrical panels.  Knob and Tube wiring is probably the safest of the 3 and is the one that causes the most issues.  It is easy to see if it is exposed and it is VERY old and was not designed for today’s high draw electronic devices.  However you do not actually hear that much about fires resulting from these elements.  However buyers are spooked by it and MUCH more importantly some lenders will not issue a loan where it is noted on an appraisal and now most insurers will not issue policies with known knob and tube, which will also indirectly result in not being able to get financing on the property as no bank will give a loan that does not have property insurance.

The next biggest issue comes from having a fuse box.  Pretty much all the same issues above except they are slightly more dangerous.  Not really but they are easier to setup unsafe situations such as putting a fuse with the incorrect load in a slot or the old sticking a penny behind the blown fuse to keep the circuit going (but with no protection now).  Other than being slightly more dangerous the financing issues and insurance issues are not as bad as knob and tube, yet.  The financing and insurance issues do come up but they are much more hit and miss.  If you can get insurance you might have a much higher premium or you may be given a time limit (often as little as 30 days) to replace the fuses or have your coverage terminated.  Finally the last major issue is Federal Pacific electrical panels.  This company was a very large supplier of electrical panels from the 50s to the 80s.  Ironically this last one is probably the most dangerous problem as these have shown to not work well and can be a distinct fire hazard.  Now with these the biggest issue will be a buyers concern if they know about them or if they have a good home inspector that points it out to them.  At this point I have only heard a few examples of there being major financing or insurance issues because of these panels.  I have heard it come up but at this point it is not nearly as common as the other issues.

 

 

Do you want to sell a house with older electrical elements that could hamper your sale?  Do you need to sell a house in Massachusetts or New Hampshire and are not sure if these electrical issues will kill your sale?  If you would like to sell your home fast and hassle free schedule a consultation with us today.

 

Hope you enjoyed the video and leave any other questions you have about the topic below or any other topics you would like to see covered in future videos.  I encourage anyone that has things they would like to talk about to let me know what they are.  You can always fill out a contact us form here and put Q & A in the subject, just leave a comment with your questions below here, send an email to info@masshomesale.com, or post it on our Facebook page or Twitter account.

 

Some useful resources:

–          Last Week’s Video on Selling a House with Unpermitted Work.

–          All of our Articles and Videos on Selling a Home As Is.

–          Our Main Article on Selling a Home As Is.

–          Our Video on Selling a Home As Is.

–          Our Video on Selling a Home with a Failed Septic.

–          Our Video on Selling a Home with Fire Damage.

–          Our Video on Selling a Home with Mold.

–          Our Video on Selling a Home with a Damaged HVAC.

–          Our Video on Qualifying Your House for an FHA Loan.

–          Our Main Article on Qualifying Your House (and Buyer) for an FHA Loan.

–          If you want to sell a house in Massachusetts or in New Hampshire we can help.

 

 

 

 

(Image credit: Electric Fuse Box via Wilcox Electric Website)

(Image credit 2: Knob and Tube Wiring via Old House Web Website)

 

Q & A Saturday – Can I Sell a House with Unpermitted Work?

Welcome to our Q & A Saturday video.

In these Q & A Videos we will answer your questions about real estate.  Any real estate related topic from questions about selling your house, buying a house, real estate investor questions, land lording questions, local market questions and many others things are all fair game. 

Today’s question is “Can I Sell a House with Unpermitted Work?

Building Permit - Unpermitted Work - Massachusetts and New Hampshire Real Estate

In this video Shaun talks about some of the issues that come up when trying to sell a house that has unpermitted work.

 

Some of the main points covered in this video are:

1)      Why people don’t get permits

2)      Buyers worry about safety

3)      Buyers worry about quality (Are you cutting corners?)

4)      Your town might not be happy with you

5)      The Bank might not give you any credit for it

 

Many people will have work done on their property without getting the required permits.  If you do the work yourself or hire an unlicensed person, or just a shady one, there are some jobs that a municipality will require permits.  If these are not pulled then there can be several issues that come up if you want to sell your house.  The first kind of issue will be around your buyer.  If you are trying to sell your home on the retail market the buyer will likely get a home inspection and if there is major work done that did not have the proper permit pulled they might have concerns about safety and about the quality of the work. 

However the biggest problem can come in if there was major work done without a permit and the buyer’s bank appraiser does not give “credit” for it.  For example say you put on an addition that added 400sqft and a full bathroom and did not get any of the permits, the bank may refuse to count those items and value your house relative to smaller houses with 1 less bathroom.  This of course can be a drastically lower value.  Similar things can happen with things like finished basements, decks, winterizing a 3 season porch and other high value additions.

 

 

Do you want to sell a house with unpermitted work?  Do you need to sell a house in Massachusetts or New Hampshire and are not sure if the lack of permits will kill your sale?  If you would like to sell your home fast and hassle free schedule a consultation with us today.

 

Hope you enjoyed the video and leave any other questions you have about the topic below or any other topics you would like to see covered in future videos.  I encourage anyone that has things they would like to talk about to let me know what they are.  You can always fill out a contact us form here and put Q & A in the subject, just leave a comment with your questions below here, send an email to info@masshomesale.com, or post it on our Facebook page or Twitter account.

 

Some useful resources:

–          Our Main Article on Selling a Home As Is.

–          All of our Articles and Videos on Selling a Home As Is.

–          Good article on the Importance of Getting Permits.

–          If you want to sell a house in Massachusetts or in New Hampshire we can help.

 

 

 

 

(Image credit: Building Permit Clipart via Fairfield, OH City Website)

 

Q & A Saturday – How Do You Estimate Repairs?

Welcome to our Q & A Saturday video.

In these Q & A Videos we will answer your questions about real estate.  Any real estate related topic from questions about selling your house, buying a house, real estate investor questions, land lording questions, local market questions and many others things are all fair game. 

Today’s question is “How Do You Estimate Repairs?

How to Estimate Repairs - Massachusetts and New Hampshire Real Estate

In this video Shaun discusses how to figure out what repairs to do and estimate how much they will cost on a rehab project.

 

Some of the main points covered in this video are:

1)      What level of repairs are you doing?

2)      The best way to estimate – Don’t, get a pro to tell you!

3)      What to do if that is not an option

4)      Getting out and finding out costs

5)      Online resources to help you figure out repair costs

 

Finding the repairs for a rehab project is the biggest factor, after the ARV.   It is a little bit art and a little bit science.  Some things can be straight forward like getting the measurements for flooring in a normal room and getting a price per sqft installed.  However deciding what that flooring should be is more of an art.  It is important to know if you are going to have a rental or going to resell the property quickly to a home owner.  This will greatly affect what repairs and upgrades usually.

Once you know what kind of repairs you will need to do then the question of how to figure out what the costs will be to do them rises to the surface.  The best way is to get multiple contractors to give you estimates, which is rarely possible (and impractical even if it is possible).  After that if you have a contractor you know well and have a good relationship with getting them to walk the property with you before making an offer is the next best option.  After that if you have a construction background of some sort that is valuable obviously.  If you do not have that experience or a contractor that is willing to run through some places with you then you need to get out and figure out some pricing.

I still think that there is a lot of value in actually going out to some home improvement stores (Home Depot, Lowe’s, Local hardware or construction supply shops, etc…) and looking at materials and jotting down notes of what things cost.  That being said there are also several online tools that can help get you started (several linked below) and are things to look at while doing all of these other things as well.

 

Do you want to sell a house that is a fixer upper?  Do you need to sell a house in Massachusetts or New Hampshire and don’t want to figure out the repairs?  If you would like to sell your home fast and hassle free schedule a consultation with us today.

 

Hope you enjoyed the video and leave any other questions you have about the topic below or any other topics you would like to see covered in future videos.  I encourage anyone that has things they would like to talk about to let me know what they are.  You can always fill out a contact us form here and put Q & A in the subject, just leave a comment with your questions below here, send an email to info@masshomesale.com, or post it on our Facebook page or Twitter account.

 

Some useful resources:

–          Our recent video on How to find the ARV.

–          Our recent video on How to find MAO.

–          The HomeAdvisor “True Cost” Guide.

–          Hanley Wood, LLC Remodeling 2016 Cost vs. Value Report 

–          Video explaining the (defunct apparently) HD PRO Estimator Tool.

–          Our Main Article on Selling a Home As Is.

–          All of our Articles and Videos on Selling a Home As Is.

–          If you want to sell a house that needs fixing in Massachusetts or in New Hampshire we can help.

 

 

 

 

(Image credit: Home_Improvement via Integrity Realty and Management)

 

Q & A Saturday – How Do You Find MAO?

Welcome to our Q & A Saturday video.

In these Q & A Videos we will answer your questions about real estate.  Any real estate related topic from questions about selling your house, buying a house, real estate investor questions, land lording questions, local market questions and many others things are all fair game. 

Today’s question is “How Do You Find MAO?

MAO - Maximum Allowable Offer - Massachusetts and New Hampshire Real Estate

In this video Shaun discusses what the Maximum Allowable Offer (MAO) of a house is and how to find this number.

 

Some of the main points covered in this video are:

1)      What is MAO?

2)      Why you need to find ARV first

3)      What percentage to use

4)      Figuring out your repairs

 

Finding the MAO (Maximum Allowable Offer) of a house is critical.  If you want to rehab and resell houses, or sell properties to people that do, you need to know how much to pay for them.  Everyone can have slightly different ways to calculate this number but the quick method usually involves taking a percentage of your After Repair Value (ARV) and subtracting off the estimate of repairs needed to get it worth that ARV.  As discussed in our last video ARV is the most important number you have to figure out since it is the biggest factor in getting your MAO.  Of course getting your repair estimates close is very important too but since the ARV is so much bigger than the repair costs small changes here will effect your MAO much more than much larger changes (on a percentage basis) to the repairs.

 

Do you want to sell a house that is a fixer upper?  Do you need to sell a house in Massachusetts or New Hampshire and want to see what are MAO is?  If you would like to sell your home fast and hassle free schedule a consultation with us today.

 

Hope you enjoyed the video and leave any other questions you have about the topic below or any other topics you would like to see covered in future videos.  I encourage anyone that has things they would like to talk about to let me know what they are.  You can always fill out a contact us form here and put Q & A in the subject, just leave a comment with your questions below here, send an email to info@masshomesale.com, or post it on our Facebook page or Twitter account.

 

Some useful resources:

–          Our last video on How to find the ARV.

–          Our video on All the Costs to Rehab a House

–          Our Main Article on Selling a Home As Is.

–          All of our Articles and Videos on Selling a Home As Is.

–          If you want to sell a house that needs fixing in Massachusetts or in New Hampshire we can help.

 

 

 

 

(Image credit: Adaption of MAYO via instituciones.sld.cu)

 

Q & A Saturday – How Do You Find The ARV?

Welcome to our Q & A Saturday video.

In these Q & A Videos we will answer your questions about real estate.  Any real estate related topic from questions about selling your house, buying a house, real estate investor questions, land lording questions, local market questions and many others things are all fair game. 

Today’s question is “How Do You Find The ARV?

 ARV - After Repair Value - Real Estate Investing

In this video Shaun discusses what the After Repair Value (ARV) of a house is and how to find this number.

 

Some of the main points covered in this video are:

1)      What is ARV?

2)      The Comparable Sales Method of finding it

3)      What are the most important factors to consider

4)      How old can they be?

5)      How far away can they be?

 

Finding the ARV (After Repair Value) of a house you are looking to fix and resell is the most important number you will need to figure out in evaluating a potential opportunity.  This is important for any rehabber doing a project, for any Wholesaler looking to sell deals to a rehabber, any real estate agent looking to work with investors as well as agents working with retail buyers and sellers as well.  The retail agents need to be able to tell sellers what value they can add if they do work vs. selling as a “fixer upper” and for buyers they need to let them know if it is worth buying a place that needs work and if the discount they are getting is big enough to not put them underwater after paying for the work.

To find the ARV we find the “comps” which are recent sales of similar properties in the same area.  The most important things to start to narrow down things are first make sure they are in the same city or town (If you live near the town line do not use ones in the other town), next make sure they are close to the house you are evaluating (Always try to keep it within half mile but closer is better) and finally they need to be recent (within 6 months but again the more recent the better).  Once you have this narrowed down try to find places with the same number of bedrooms and bathrooms and then as close as possible in the square footage (best to be within 10% but can go up to +/- 20%).  Other factors can go into it as well but these are the big ones.  Once you have a list you can adjust the prices if there are differences.  But you are now wondering “How do I find these comps?”, that is a big question.  The easiest way is if you have access to your local MLS service.  This is very easy to use if you can get onto it.  If you are not an agent or are not working closely with one that can help you do this you need to find other sources.  You can use things like Zillow, Trulia, Redfin etc. but it is a little harder and make sure you do NOT use the value estimates given like Zillow’s Zestimate which are terrible (See our Video on how bad those are).  Once you have 3-5 good comps then you can make a good estimate of the final ARV for a place!

 

Do you want to sell a house that is a fixer upper?  Do you need to sell a house in Massachusetts or New Hampshire and don’t want to do the work to get that ARV?  If you would like to sell your home fast and hassle free schedule a consultation with us today.

 

Hope you enjoyed the video and leave any other questions you have about the topic below or any other topics you would like to see covered in future videos.  I encourage anyone that has things they would like to talk about to let me know what they are.  You can always fill out a contact us form here and put Q & A in the subject, just leave a comment with your questions below here, send an email to info@masshomesale.com, or post it on our Facebook page or Twitter account.

 

Some useful resources:

–          Our Main Article on Selling a Home As Is.

–          All of our Articles and Videos on Selling a Home As Is.

–          Our Video on how Inaccurate Zestimates Are.

–          If you want to sell a house that needs fixing in Massachusetts or in New Hampshire we can help.

 

 

 

 

Q & A Saturday – Can I Sell a House with a Broken HVAC?

Welcome to our Q & A Saturday video.

In these Q & A Videos we will answer your questions about real estate.  Any real estate related topic from questions about selling your house, buying a house, real estate investor questions, land lording questions, local market questions and many others things are all fair game. 

Today’s question is “Can I Sell a House with a Broken HVAC?

Bad HVAC - FHA Financing Issues

In this video Shaun continues with our discussions of selling a damaged home with the issues around having a failed HVAC system.

 

Some of the main points covered in this video are:

1)      Heat vs. Air conditioning issues

2)      How will a non functional HVAC system effect a buyer’s financing

3)      Options for a conventional (i.e. financed) buyer to be able to buy your house

4)      Working with an investor

5)      Other issues we have discussed in previous articles/videos

 

Having a broken HVAC system is one of many issues that can make it very difficult to sell a house to normal retail buyer.  In addition to it being a major turn off to the vast majority of buyers it also is one of the things that will likely keep the sale from qualifying for most types of bank financing, which is generally a necessity for most buyers.  There are a few very limited options for owner occupant buyers have to buy a place and do the repairs and in some other uncommon occasions a bank might agree to escrow the funds to be fixed after the sale, but these are definitely the exception.  Generally if your boiler or furnace is not functioning (usually less of an issue with central AC) you will need to fix it or your pool of buyers will be mostly those that can pay cash or investors, both of which will want a discount to deal with it.  However if you do not have the funds to make these repairs sometimes selling “as is” can be a lot faster and less stress even if you aren’t getting the highest price.

 

Do you want to sell a house with a non functional HVAC system?  Do you need to sell a damaged house in Massachusetts or New Hampshire as is?  If you would like to sell your home fast and hassle free  schedule a consultation with us today.

 

Hope you enjoyed the video and leave any other questions you have about the topic below or any other topics you would like to see covered in future videos.  I encourage anyone that has things they would like to talk about to let me know what they are.  You can always fill out a contact us form here and put Q & A in the subject, just leave a comment with your questions below here, send an email to info@masshomesale.com, or post it on our Facebook page or Twitter account.

 

Resources mentioned in the video and some other useful resources:

–          Our Article on the Advantages Of Selling a House As Is

–          Our Video on a House Qualifying for FHA Financing

–          Our Video on Selling a House with Mold

–          Our Video on Selling a House with Fire Damage

–          Our Video on Selling a House with a Failed Septic System

–          All of our articles and videos on Selling a House As Is

–          If you want to sell a damaged house in Massachusetts or in New Hampshire we can help.