Q:

A: When someone’s going to sell the house, the best investment you can make is on the exterior, whether it be landscape or paint or driveway or windows or the backyard.  People are incredibly forgiving on the inside if they fall in love with the outside.  It’s very similar to going on a first date. 

If someone’s wowed by the outside, they walk inside and they’re completely forgiving. Very rarely is it the opposite where they’ve got this ugly outside but they’ve fallen in love with the inside.  So if you can make someone fall in love with the house before they walk through the front door or even in the backyard, with the exterior, the interior doesn’t need to be completely done.  People are willing to do that work.

Gary Gold is a REALTOR® with Hilton & Hyland in Beverly Hills, CA.

 Are you interested in having a qualified REALTOR® answer your questions? Click through to Ask a REALTOR® now.

Are you a REALTOR® who would like to answer consumer questions? Click through to become an Ask a REALTOR® participant.

A:

Q: We do have first time homebuyer money. It is dependent upon on your income. You do not necessarily have to be a first time homebuyer, depending on the area you’re in. If you’re in what they call a “targeted area,” you do not have to be a first-time homebuyer. Targeted areas are primarily the suburban areas of the city.

However, for the very suburban areas, there is another type of loan available that is 100% financing.  It’s through the USDA and its called the rule home loan, and with the rule home loan you do not have to  be a first-time homebuyer, however you do need to have minimal income.

The more people in the family, the larger down payment assistance is available. Your interest rate is fixed  over a  33-year loan versus a 30-year loan, again based on your income. It can be as low as 2 or 3 ½ percent. That will not change, but you will have to submit  to the home loan authority or USDA periodically. They’ll ask you for income tax returns to substantiate that you’re still at that lower income level.

That’s probably one of the most frequent questions we’re asked. But state bond money is generally available. They seem to come up with bond twice a year. It is first come, first serve. It does run out. So if it does run out, you need to be with a REALTOR® who is aware of when that bond is coming out. You need to get your name on the list and get in and get it done pretty quickly.

Cindy Cheatwood is a broker associate with Cleaton & Associates in Piedmont, OK.

Are you interested in having a qualified REALTOR® answer your questions? Click through to Ask a REALTOR® now.

Are you a REALTOR® who would like to answer consumer questions? Click through to become an Ask a REALTOR® participant.

If you have a real estate question, now’s your chance to “Ask a REALTOR®”!

“Ask a Realtor” is a question and answer feature connecting home buyers and sellers with real estate experts. You can ask about any real estate-related item, and many of the answers are published on REALTOR.com® Blogs.

Take a look at some recent examples on Realtor.com, and on our YouTube page.

If you want your question answered, submit now through the Ask a Realtor online form.

–REALTOR.com® Blogs Team

Q: Our condo has been on the market for a few months with no offers. We have an excellent, long-term tenant who wants to buy the home, but cannot afford to make a down payment. We are considering a Lease to Purchase agreement as a solution – it seems especially attractive given her outstanding care of our property and dependability to date.

My questions are: Can we hire a real estate lawyer and sign a Lease to Own agreement directly with the tenant, or do we have to use our real estate agent instead? How much should we charge the tenant over their current rent?
~Drew

A: Drew, some great questions here. Know first of all, that you’re not alone with this issue. Selling condos right now when there are so few options for financing is causing every condo owner in the country a huge headache. On the plus side, you have a great tenant, and those are equally hard to find these days!

I think your compromise of selling to your renter is a great solution to your problem and one that is being pursued by many sellers in the current market. Seller financing is not without its own set of problems however and if not done correctly, can lead to all sorts of problems down the road. In many cases, the deals just fail to close which is why you are doing exactly the right thing by using an attorney for a contract like this. Each contract in these cases is complex and unique, and the terms and timelines must be carefully monitored in order to bring the transaction to a successful conclusion.

As for the dollar amounts you ask about, when considering a lease-to-own deal, each deal is put together according to the results of the negotiations by both parties. Everything is negotiable, including both of the items you mention above. This is something your local agent may be able to assist with since I don’t know which state you are in, and as you may know “all real estate is local.”  This means that contractual customs vary widely and you should probably take advice from those agents and attorneys that are used to structuring deals of this specific nature.

Whether you are bound to keep your agent or not depends on what your written agreement says – assuming you have one at all. If it is “exclusive” then in most cases you are locked in for a specific period of time; but without seeing it, it’s impossible to say. If you have no agreement, then it depends what you mean by the word “retain.” Given your need for a real estate attorney in this transaction, this question would best be directed to that attorney to avoid any potential disagreements in the future.

Good luck!

Marcus Burke is the broker for Condo Metropolis in Orlando, Florida, Orlando’s downtown condo specialists.

Are you interested in having a qualified REALTOR® answer your questions? Click through to Ask a REALTOR® now.

Are you a REALTOR® who would like to answer consumer questions? Click through to become an Ask a REALTOR® participant.

A: The purchase process for a short sale is sometimes several months. There are some banks that are fast tracking short sales. That is pretty exciting because it’s almost like a regular sale. You can wait three, four, six months, up to a year for a short sale. That is happening less now, but generally it is a several month process.

Short sales are good in a situation where you can’t move for three to six months, your kids  might be graduating from school, changing school districts. Oftentimes, it’s a long, drawn-out process.

The process for purchasing a bank owned property is relatively quick. There are times when you put in an offer and you have to wait for the bank to approve the offer, and sometimes that delays a few weeks or so. Generally you’ll get an answer fairly quickly. You’ll go into escrow and close in 30 to 45 days.

Jeff Green is a REALTOR® with PMZ Real Estate in Tracy, CA.

Are you interested in having a qualified REALTOR® answer your questions? Click through to Ask a REALTOR® now.

Are you a REALTOR® who would like who like to answer consumer questions? Click through to become an Ask a REALTOR® participant.

A: The purchase process for a short sale is sometimes several months. There are some banks that are fast tracking short sales. That is pretty exciting because it’s almost like a regular sale. You can wait three, four, six months, up to a year for a short sale. That is happening less now, but generally it is a several month process.

Short sales are good in a situation where you can’t move for three to six months, your kids  might be graduating from school, changing school districts. Oftentimes, it’s a long, drawn-out process.

The process for purchasing a bank owned property is relatively quick. There are times when you put in an offer and you have to wait for the bank to approve the offer, and sometimes that delays a few weeks or so. Generally you’ll get an answer fairly quickly. You’ll go into escrow and close in 30 to 45 days.

Jeff Green is a REALTOR® with PMZ Real Estate in Tracy, CA.

Are you interested in having a qualified REALTOR® answer your questions? Click through to Ask a REALTOR® now.

Are you a REALTOR® who would like who like to answer consumer questions? Click through to become an Ask a REALTOR® participant.

A: The real key advantage to buying short sales is they are (even though they are in the foreclosure process), they’re usually much better maintained because there’s a homeowner that’s there. There’s a natural transition from one homeowner to another.

When you have a bank-owned property, there’s generally been an eviction or someone has been asked to leave, and the house is vacant. Sometimes you can see them when you drive down the street, the lawn’s dead and not cared for.  So, in a short sale you’re generally getting a better maintained property. Not always, but in most cases.

Jeff Green is a REALTOR® with PMZ Real Estate in Tracy, CA.

Are you interested in having a qualified REALTOR® answer your questions? Click through to Ask a REALTOR® now.

Are you a REALTOR® who would like who like to answer consumer questions? Click through to become an Ask a REALTOR® participant.

Q: I bought a house recently and before it closed, we walked through the house to check everything.  However, I noticed a few things that I had missed before.  Is it too late for me to ask the seller to repair these things or will that ruin the sale?

A: You can ask the seller to fix anything you want, whether or not he agrees to the repairs is a totally different issue.  I recommend sticking to requesting repairs that directly affect the value or marketability of the home such as severely worn floor coverings, broken windows, compromised doors, leaky roof, leaky plumbing, etc. Don’t ask him to repaint the inside or the outside of the house; this is a simple and inexpensive thing you can do or have done and not have to wait on the seller or a painting contractor to complete before close of escrow. 

Another no-no is anything the house doesn’t need like adding or tearing down walls or changing perfectly good light fixtures.  In a lot of cases sellers already feel taken advantage of because prices are so deflated compared to 5 years ago and in my experience they are not eager to make a home sparkle if they feel like they are taking a loss even if it’s just a paper loss.  Anything you would rather have done to your specifications like paint colors, remodeling, tile work, do yourself or hire someone to do after escrow closes.

Jessica Murr is a Realtor with Richter Scale Real Estate in Northern California.

Are you interested in having a qualified REALTOR® answer your questions? Click through to Ask a REALTOR® now.

Are you a REALTOR® who would like to answer consumer questions? Click through to become an Ask a REALTOR® participant.

Q:  I’m thinking of moving but want to make sure I can bring my five dogs with me. Is there a limit on the number of dogs one can have in a single-family home?
~Maria

We received an overwhelming amount of responses from our REALTORS® who are obviously dog lovers themselves; here are some we selected to share with you.

A: Typically the local city, county, etc. will have guidelines set in place based on the specific zoning of a property. Some areas do limit the number of animals, and inhabitants, in a single domicile based on zoning classifications. A local Realtor may have that answer, or you can easily do an online search to find municipal offices that may have that information available online, or by phone.

Another option to consider is to find a more “rural” area near where you are looking to move. Certain zoning types will permit “agriculture” or farming, and those properties typically do not have restrictions on the number of dogs you can keep. Be sure to research this thoroughly before purchasing. I have had clients who have encountered this problem in some of the newer communities with strict deed restrictions. Be sure to tell your Realtor about any special accomodations your family (including the four-legged members) may need.

Great question that is not often asked and very important information for all buyers to share with their Realtor.

Maya Paveza, Coldwell Banker Preferred
Wilmington, DE

A: The only restrictions there may be on how many dogs you can have in a home will come from restrictive covenants or deed restrictions (which is unlikely…the likelier source will be the covenants). As always be sure to have a Realtor represent you who can advise you on any local ordinances that may exist. Best of luck!

Sunil Varghese, Keller Williams
Greenville, SC

A: Generally speaking there is no limit on the amount of pets an individual may have in a single family home. With that said, you should work with your Realtor to determine whether there are any city or county ordinances that speak to the amount of space a pet needs to have to live comfortably, as well as, any home owners association policies regarding pets.

Sandy Lovett, Keller Williams Capital Properties
Fairfax, VA

A: Congratulations on considering buying a home.  Five dogs may be too many depending on where the house is.  If it’s within a planned community they may restrict the number.  Some cities also restrict the number of animals one can have.  I suggest that you call the city this house is in and ask if they have animal restrictions.  That way, you will know whether you can have that many dogs.

Lenore Wilkas, Prudential CA Realty
Burlingame, CA

A: That is a great question, and something you want to check before you buy a home. They are many levels that you need to check to get the correct answer. The first level is your home owners association to see if they have a restriction on size or number of animals. The next level to check is your city and county to see if your property is zoned for that many animals. To save time and running around I would suggest you contact your local animal shelter or humane society they should know the local ordinances.

Fred Tazartes, Intero Real Estate Services
Valencia, CA

Take a look at Move.com’s Pets section for more information.

Check the Realtor.com Facebook Fan Page to submit your favorite photo of your dog at home. You might win a $250 gift certificate from Petco!

Are you interested in having a qualified REALTOR® answer your questions? Click through to Ask a REALTOR® now.

Are you a REALTOR® who would like to answer consumer questions? Click through to become an Ask a REALTOR® participant.

“Ask a Realtor” is a question and answer feature connecting home buyers and sellers with real estate experts. You can ask about any real estate-related item, and many of the answers are published on REALTOR.com® Blogs.

Take a look at some recent examples on Realtor.com, and on our YouTube page.

If you want your question answered in our studio this week, submit through the Ask a Realtor online form.

–REALTOR.com® Blogs Team