ArcaMax

Reader Question: When searching for a new house, at what age should the buyer expect the interior to be freshly painted?

Monty's Answer: The age of interior paint isn't a straightforward "should be" number when searching for a house, as several factors influence the condition and necessity of fresh paint. Quality interior paint in well-...Read more

Dear Monty: We are going to sell our home, and we are confused about which improvements to make. The internet has conflicting information. What are the most cost-effective ways to prepare our home for sale?

Monty's Answer: When preparing a home for sale, focus on maximizing visual appeal and addressing fundamental maintenance issues. Many of ...Read more

Dear Monty: It is five days before closing. The seller notified us today that they are having problems with the city, and the three units we are buying are legally only two. We don't want to rent an illegal unit and can't rent that unit without having a legal permit. On top of it, a cousin of theirs living in this third illicit unit doesn't ...Read more

Dear Monty: If the contract states that the broker will disclose to the owners if any fees are to be paid by the owners, the agent writes "Withdrawal Fee of $575," and the owners decide they do not want to sell their property anymore, can the agent keep that $575 when she has done nothing but put the owners' private photos on the internet site...Read more

Dear Monty: I recently had my home inspection done on a house I am purchasing. A few issues that must be resolved were found, not immediately but soon. Is it acceptable to request assistance from the seller for these repairs or a reduction in the purchase price to accommodate the necessary repairs?

Monty's Answer: Many factors come into play....Read more

Dear Monty: My neighbor behind me has a dead tree that fell into our yard. There is another part of the tree that looks dead and can potentially fall into our yard. My house is paid off, and it doesn't look like there is damage. Just need the tree removed. Are they liable for removing the tree if I don't have property insurance?

Monty's Answer:...Read more

Dear Monty: I am the president of our homeowners association. We hired an outside company to act as a liaison between our board of directors and the general membership population. We don't want to argue with our neighbors or enforce the rules when a member violates the rules. Our current outside company is local. What options do we have if we ...Read more

Dear Monty: If a real estate broker has given a prospective buyer information on paper only about a property for sale, and the prospective buyer has not stepped into the property, can the buyer go to a different agent if the buyer does not like the original broker?

Monty's Answer: It is unclear if you are the buyer, an agent or an adviser ...Read more

Dear Monty: If a 300-foot lakefront property is divided into two parcels -- a 200-foot lot with a year-round home and a 100-foot lot with a rustic 12-by-24 cabin with its well/septic -- will overall property taxes increase? We figure it will be easier to divide the properties now when our parents are living in the home. We fear that the rustic...Read more

Dear Monty: My home is for sale through an agent. It has been over 12 weeks with no offers and few showings. A buyer with no agent has contacted me about selling directly to them. Can I do a private sale?

Monty's Answer: Yes, you can, but there are considerations about how to proceed.

No. 1: The most crucial consideration is the term of your...Read more

Dear Monty: We intend to negotiate a lot line adjustment with a neighbor. The size of the parcel is about 600 square feet and has been surveyed. Our neighbor is amenable to selling, but the price has yet to be determined. Our home is free and clear, but we think the neighbor has a mortgage. We live in a tiny town near a large metro area. There...Read more

Dear Monty: Three siblings would like to purchase a home together. Two siblings make $30K each, and one makes $80K. Can one of the siblings qualify for government loans and the others still be on the loan? Please advise.

Monty's Answer: The short answer is yes, it's possible, depending on the specific lender and their underwriting guidelines....Read more

Dear Monty: Why is it that so many people rely on price per square foot? Simply put: A home with 12 foot ceilings instead of 8 foot ceilings will typically cost more in materials (e.g., drywall, paint). Construction quality and "newness" can also play a role. I think it's highly misleading that the MLS, Zillow, etc., list the square foot price...Read more