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Sanjeev answered Deena's Question.
Does home location affect home price?
Posted On: May 10, 2011
Sanjeev [May 05, 2011] :Home location is probably the most important factor in home value, or at least right up there with the home itself! A home in a poor location (adjacent to active railroad tracks, an environmental waste dump, downwind from a manufacturing plant, built on swampy soil) won't ever get the top price in the market because buyers will "discount" the location. A bad location is usually an incurable defect. That means it cannot be "fixed" -- it will always be a bad location. On the other hand, a great location can make up for a bad property. There will always be people who want to buy run-down homes in great neighborhoods, because they can "fix up" the homes. In fact, a rule of real estate investing has always been to buy the "worst house in the best neighborhood" and take your value from the neighbors. The opposite of this is to buy the best house in the worst neighborhood, which is a poor investing strategy, because your house will take its value from the (downward-trending) neighbors.
Jose answered 's Question.
Can I put my house up for sale if I owe back taxes on it, and pay the tax bill at time of settlement?
Posted On: May 03, 2011
Jose [May 12, 2011] :Speak to a local real estate attorney or broker to be sure of local custom, law, and practice . . . . but in general, yes. Let the local tax authority know that you are planning to sell the home, and have them give you a "payoff figure" for the amount due. Make sure they have not begun the process of taking title to the home or similar (depending on how long the taxes have been overdue). Do the same with your mortgage lender, or lenders, if applicable. Make sure that the net profit after commissions and sales tax stamps is enough to pay all parties. If listing the home through a brokerage, make sure you make them aware of all parties that must be paid through the sale. If selling on your own, be upfront with the buyer and the buyer's attorney or escrow company so that everyone is aware of all bills that must be paid at settlement.
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