If you don't put your home in a Trust, and you die, the home goes to Probate... in other words the state takes over your home instead of your family.
.
You don't want that, right?
.
A trust will cost you about $900 to set up, but will save your family thousands and thousands and thousands of dollars by avoiding the lawyers they would have to get when dealing with a probate.
How do I find out what my property is worth?
You should "run the comps" yourself before calling a real estate agent to do a walk-through of your house.
That way you will be able to tell if the agent knows what they are talking about or not.
To see what your home is worth you have to run the comps.
.
That means you need to research all the comparable properties that have sold in the area to help determine what your property is worth.
.
Only look at sold homes within 1/2 a mile, have similar living square footage, and lot size.
.
Then look at pictures to compare the condition of the home.
.
Finally, look at those homes selling prices.
.
That will give you a rough estimate as to what your home is worth.
Episode 15 of The #AskDanielLosAngeles Show
In episode 15 of The #AskDanielLosAngeles Show, I answer the following 4 real estate questions:
1) How can I figure out how much my home is worth?
2) Whats the difference between a probate sale and a trust sale?
3) What are some of the weirdest things you have heard buyers say when taking a tour of one of your listings?
4) The buyer for my home needs to get an appraisal done on my property. How can I make sure it doesn't come in low?
We have over 9,500 followers on Instagram... come join us! @DanielLosAngeles
Paint the interior of your home for $5K, or be prepared to get offered $15K less
The dollar amount to paint your home may be a little different, but the fact remains that buyers always overestimate the costs of repairs.
.
You are better off doing the paint job before you put your home on the market and getting top dollar for your home.
Over pricing your home never wins
If you overprice your home, no one will come to take a tour.
🔽
No tours mean no offers.
.
No offers means your home will sit on the market for months.
.
Then what?
.
Do you take it off the market and try again in a few months?
.
Do you lower your asking price?
.
Either way, you lose.
.
Get it done the first time. Be realistic about what your home is worth. Base the price off of market data.
.
Get a lot of showings.
.
Get multiple offers.
.
Win.
Multiple offers on your home always leads to more money in your pocket
The old strategy was to price your home a little high so that you have negotiating room. Although that might work sometimes, this idea is all but dead.
.
With websites like Zillow and Trulia, technology has changed the game.
.
Home buyers are searching "up to" what they can afford. So if their budget is $800K, their saved search in Zillow is set so that they get a notification when a home $800K and lower hits the market.
.
So if you priced your home at $825K with a strategy of having negotiating room, you lose.
.
You lose because your home will never come up in a $800k home buyers search and they will never get a email notification from Zillow. In other words, your home doesn’t exist.
.
What will happen is that you will stay on the market for 30 days... then drop your price to $800K. NOW you show up in their searches. But by that time your listing looks old and stale.
.
Buyers will ask "Why hasn't this property sold? Is something wrong?".
.
Price your home at $800k from the start and you would probably get multiple offers and drive up the selling price.
.
Multiple offers always gets you more money in the end.
Downtown Burbank Condo For Sale Warning: Only 1 Showing 8/19/18
There is only one showing scheduled at this time: Sunday, 8/19/18, 2:00pm - 2:30pm. There will be a open house during this limited showing.
Offer deadline is Wednesday, 8/22/18, at 2:00pm.
For full details visit DowntownBurbankCondo.com
Questions? Contact the listing agent, Daniel Madariaga, at (818) 445-7953.
Will real estate agents assist with finding rental properties?
Some agents will help you find a rental unit, but 95% will not.
I want to be your real estate agent. What do I have to do to make that happen?
Let me know at 818-445-7953. Thank you!
Asking for cash buyers only for your home... good or bad?
I see so many of you home owners making this mistake.
To get top dollar for your property, market your home to all buyers, not just cash buyers.
If you only want to sell your home to a cash buyer, prepare to give a discount
Many of my home seller clients don't want to deal with a buyer who needs a loan to purchase their home.
.
They want to sell their home fast and with the least headaches... No problem! That can be arranged!
.
But you have to understand that cash buyers do not pay top dollar from properties.
.
They know they are the most desirable type of buyer, therefore, they want a discount.
.
If you don't have a problem with that, then you can ask for cash buyers only.
.
If not, be prepared to sell for top dollar through a buyer who will be obtaining a loan.
This is why agents take overpriced listings
Analyze the data the real estate agents are giving you and determine for yourself what you think your property is worth.
After you do that, don't lie to yourself and convince yourself your property is worth more than the data is showing you.
Just because you need more money, does not mean someone will overpay for your home so that you can get that extra cash you need.
This is why some agents take overpriced listings
Some agents will tell you whatever listing price you want to hear in order to become your agent and allow them to list your home for sale.
.
For them it doesn't really matter if your home sells or not... what does matter is that they are allowed to put a free billboard (their for sale sign) on your front lawn.
.
From that sign they will generate a lot of buyers calling them.
.
They will then sell homes to a couple of those buyers.
.
Sure, your overpriced home didn't sell, but at least your agent got a couple of other sales out of it, right?🙄
.
What would you rather have... an agent that will tell you what you want to hear or an agent that will tell you the true price of your home based off of market data?
.
I vote for the truth.
Is it OK to let the buyer move in before escrow closes?
Do not, under any circumstances, give your house keys to the buyers before closing escrow!