All Forum Posts by: Maya Robinson

Thanks for that information. It look like I will have to go through a few extra steps to comply with that new law. 

My tenant has plenty of money. He has a good job and we live in an VHCOL area (Washington DC area), and his salary probably matches that, lol.

I forget if we can do FHA. The coop has a lot of rules about financing. My tenant passed through all the hoops already when he bought with his ex-wife. And people looking here are aware that we have all these special rules. People moving here are mostly retirees downsizing.

Thanks!

5, wow! I got a lot of work to do!

Thanks, I think I'll wait it out a few weeks. There is also a comp for 315k so I'm also curious what happens with that.

That's a good idea. I will ask him if he is pre-approved. He probably isn't, because he isn't actively looking. He is probably looking to me to give him a to do list. If you have any other suggestions on what he should be doing I would appreciate it.

I would like to sell my house that I have lived in for 13 years. I live in a 1600 unit Co-op in Maryland. I have to get approval from the co-op to sell and that takes awhile. They may also require that I do a considerable amount of work to sell it which could also change the value.

I talked to a realtor to get advice. I didn't sign anything. He thinks I should list for $215,000 because there is a house listed for that currently. I think I should list at at least $235,000 because of  a different comp and i think that it's possible the price  will keep rising through the spring because inventory is tight. My house is a three bedroom end-unit townhouse away from the highway, in good, but not excellent condition. Most of the units are two bedrooms, interior.

Comp A https://www.redfin.com/MD/Greenbelt/73-Ridge-Rd-20770/unit-D...

Comp B https://www.redfin.com/MD/Greenbelt/73-Ridge-Rd-20770/unit-C...

Here is the kicker.  I have a tenant and today I told him that I planned to sell and I was giving him his two month notice. He asked me if he could buy it. The next question is: could he? Yes, I believe so. He is my neighbor who moved in because he is going through a divorce. He has a good job and two kids that have six years left in the neighborhood school. I told him I would tell him the price first before listing it.

In the contract it says that I have to pay the realtor 6%, with 2.5% going to the buyers agent. I'm assuming he would take out the 2.5% because I found the buyer, assuming that goes through, but I'm also worried that he is going to push me to underprice my house. I don't think the trend of real estate prices is going down in my area. I think this particular real estate agent for the 215k house is just bad at her job. She let the house sit listed over the winter. And I don't think she thinks highly of the area (I know her personally and we have talked about it).

I'm not opposed to going with a realtor even if I found the buyer, because Maryland has a ridiculous amount of laws to comply with. But maybe I should hold off on signing with the realtor for another month to see how everything goes? I'm supposed to sign Monday afternoon.

Sorry so long, thanks for reading.