Q & A with Dottie Herman

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Q1 - There are a few homes for sale on my block and most of them are the same model house. My wife and I are trying to sell our home and we are trying to come up with some things to do to increase the traffic and offers at our home. They are all basically the same price, and were last updated in the early 90's. Is price the only way to attract more offers? We are very eager to sell.

A - Price is certainly a key factor.  If you are very eager to sell, let that be reflected in the asking price. This will attract more buyers and offers to your home.  You should also do your best to distinguish your home from the competition whenever possible.  To do this, make sure the interior is clean and smells fresh.  If there is any clutter try and reduce or eliminate it.   Also, curb appeal is important, that is the first impression of any buyer. Make sure buyers can walk around each room freely to get a sense of the space. 

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Q2 - I have been trying to sell my home for almost 12 months, and I only had one offer which was much lower than my asking price. Should I also put it on the market for rent with an option to buy? Can I still have my house on the market if I find a tenant? Or would that make it increasingly difficult to show my home to prospective buyers?

A - I do not know the particular rules of your market, but generally speaking you can have a home on the market for sale or for rent at the same time.  Since you have been on the market for a year, now would also be a good time to re-evaluate the sold comps in your community.  What price did similar homes sell for?  If they have sold for significantly less than your asking price that means you would need to lower the price in order to sell.  If the prices are in line with your asking price, the issue might be one of marketing and exposure.  Make sure you are working with an experienced agent in your neighborhood who understands your local market.

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Q3 - My husband just got transferred for work and we are moving to Georgia. We have to leave within the next 30 days and we need to now sell our townhouse in New Jersey. Is this something we can leave in the realtor's hands or should my wife constantly fly back to NJ to ensure all is going well and people are seeing the home and the realtor is showing it and marketing it, etc?

A - An experienced agent who has engaged in transactions in your community can handle this without the added burden of you traveling back and forth.  In fact, that's what agents are here to do - allow you to run your busy life while the agent takes care of your real estate needs. Interview agents in your town and ask them if they have handled a situation like this before. Then find out how they operated in the transaction and see if you feel comfortable with that arrangement. 

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Q4 - I just sold my NYC apartment, but I am not buying anything else at this moment as we are just making our second home our primary residence. We do not need any of the furniture in my current apartment, and removing it is becoming a huge problem. Can we leave it in the apartment? I assume we need permission from the buyer?

A - Yes, that does sound like something that needs to be communicated and agreed to by the purchaser of your home.  To verify, speak with your real estate attorney who can tell you what can be included and not included in the sale. 

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If you have a real estate question for Dottie, please send it to; Dottie@RealEstateChannel.com.

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