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Month: June 2014

  • Can seller counter a full-price offer?

    Reader Question: If you make a full price offer on a property, can the seller come back with six thousand dollars more than the listing? Isn’t a listing a good faith agreement to sell for that price? Mike C. Monty’s Answer: The seller can counter-offer the list price with a higher price. It would be…

  • Is radon gas harmful, or not?

    Reader Question: Our home is currently “for sale” and a prospect has visited the house several times. They asked us if we ever tested the house for radon gas, and we have not. They want us to have the house tested, but we have heard conflicting stories about radon. What can you tell us about…

  • 13 “red flags” that affect home values

    Reader Question: We just sold our home after struggling in the market. We never realized when we bought the house we had a built-in “objection” (food plant a couple of blocks away discharged an odor). We will buy another home and wondering if there are other “objections” to be alert for after missing it in…

  • 5 important tips when considering cooperative housing

    Reader Question: Monty, we are considering the co-op style of living. What are you and other folks saying about the way that this works regarding the buy-in and the monthly costs? Monty’s Answer: Hello Mike, and thanks for your question. Here are some thoughts, not about any particular co-op. Instead, it is one person’s opinion based…

  • Timing your retirement home purchase

    Reader ​Question: Monty, our current home, valued at $700,000+ has no mortgage, and we plan to purchase a replacement home for $650,000 or less. Because we are retired and our income is only $72,000, we do not qualify for a mortgage. We have failed to find a source for a ‘bridge loan.’ We do have…