Home seller worries about upseting agent friends

Q. My husband and I have decided to sell our home. We are trying to sell on our own, at least giving it a try. We will most likely end up listing with a broker. Unfortunately, we are between a rock and a hard place as we know many agents. Some have been friends a long time. I previously worked for a local real estate company but left last year.

We are sensitive to the feelings of our friends in the business and have anguished over this. Do you think it is wise to combine business with friendship? It seems like no matter what we will make someone feel bad, and they will feel we have slighted them. This may seem trivial, but it does matter to us. If you publish this, please do not use our names. We would appreciate any suggestions.

A. People ask me “how come you know all the answers?” And it's because I get to pick what goes in the paper. When the answer is “I don't know,” it doesn't get published. But we'll try printing your query anyhow. Perhaps, we'll get opinions and advice from real estate agents. Stay tuned.

Q. Our family is in great need of your advice. My parents have put my childhood home on the market, and it has not had a second showing or an offer in the months it has been on the market!

Every room has been painted, the kitchen has been updated, all new carpet and new hardwoods have been put in, and it has been staged to be as uncluttered as possible. The house resides in a desirable neighborhood and is the lowest compensation by far! The house was the model home in the community.

The price has been lowered $100,000 and they are offering an extra $10,000 incentive to the real eastate agent who sells the house. The asking price is currently $325,000. You can see the listing at [website address].

A. No use looking because it doesn't matter what I think. It doesn't matter what your folks want, what the tax assessor says, what their agent recommends, how the place is staged or what a qualified appraiser might estimate. The only opinion that really matters is the buying public. They set the price.

Only one thing we know for sure: The house isn't worth $425,000 or even $325,000. If it were, someone would have bought it by now. The definition of value boils down to “what someone will pay.”

Q. I am a 24-year-old single female who is a first-time homebuyer with a minimal budget. I would like to represent myself and put offers in without a broker. Where can I obtain a legitimate offer to purchase real estate forms? The online forms for sale seem more simplistic than the lengthy ones I have seen in the past.

A. First of all, unless you are buying directly from a home seller, the property owner will have an agent, who will be only too happy to help you fill out a state-specific purchase offer form. It won't cost you anything since the seller is paying that agent. Just remember that the seller's agent is required by law to put the owner's interests first, and he or she owes you only honest treatment.

If you are buying with no agent on either side, I'd like to see you hire a real estate lawyer to make sure your interests are protected and that the contract meets local, federal and state requirements (and those of your lender, if you need to arrange financing.)

Q. I bought a fire-damaged, abandoned and vandalized home from someone. The place was horrible. I'm a first-time homebuyer and there's no mortgage. Now an attorney contacted me saying the seller was a fake/fraud. He claims to represent the real property owner and he wants me to sign a deed to give back ownership. I have invested all my savings in this home and don't know what to do.

A. That's why people get legal help before they turn over their money to buy property. Possibly, you tried to do without it. Because you didn't get a mortgage loan, you wouldn't have had the protection of a bank's requirements, such as title insurance, either.

At any rate, what you need now and right away is not a newspaper columnist but your own attorney. This is too important to try fixing on your own. I'm hoping that the lawyer letter you got was just a fake. But there's always the possibility that your purchase was fraudulent.

Your lawyer will know about contacting the state attorney general's office.

Ÿ ehlank@aol.com