sell this house? A Melodrama in 4 Acts, Scene 3, July 2010
ME (July 12, 2010): Here is a question I meant to ask before. If I did rent the house, could it still be up for sale, or would we have to take it off the market?
Talked to TS this morning and her mother is recovering, but she is now in a nursing home. Thanks…
BB (7/12/2010): The short answer is yes, it can still be for sale. The longer answer is that”s something completely up to you and the renter. There are houses for sale that have renters in them. Sometimes they don’t show as well (since you can’t be sure how a renter will clean up for a showing) but sometimes it’s fine. Sometimes it is harder to find a renter with a house for sale (you know that from just renting the downstairs). Sometimes owners give the renters a discount on rent for having it on the market. It’s all up to what you work out with your tenant. Typically the showing instructions for rented houses have a 24 hour notice to see it. Oregon law says that a tenant shall receive 24 hour notice for even just the owner of the house to see it. This isn’t set in stone since some renters agree to less of a notice than that, but it is a guideline. This again is something that you would need to work out with a tenant.
The sales contract has an area in it that says the new buyer can accept the current tenant or that it will be up to the seller to give the tenant notice. So that’s another gray area — I’ve seen investment properties that have leased tenants in them and the new buyers must purchase subject to the existing lease (which means that the tenants get to stay until their lease is up regardless if it sells or not). It’s more typical for the previous owner to give notice to the tenants and the new owners either finding their own renters or living there themselves. But is depends on the situation.
Hope that answers it. Let me know if you have any other questions. Thanks…
ME (July 12, 2010): Thanks. Very complete answer!
When should we have the next open house?
BB (7/12/2010): The open houses haven’t been very successful, that’s why I haven’t answered with a date yet. What do you think? The first weekend of August?
ME (July 12, 2010): Well, I don’t know how to get people here otherwise. I would like to have one in August. My daughter is coming for a visit. She arrives on Aug 5 and leaves Aug 15. So, I think Aug 21/22 would be the best bet. If you can think of another way to attract buyers, I’m open.
BB (7/12/2010): I know what you mean. It seems like across the board these days it’s the realtor showings that have resulted in offers more than open houses. But your house hasn’t had a lot of realtor showings. I thought the new listing and the new price would spur some more — maybe it will. I’m still hopeful!
I didn’t mean to imply that we wouldn’t have more open houses — so the weekend of August 21/22 sounds perfect. I have put it on my calendar.
I wish I could tell you the way that will work to attract buyers — we’ve been trying a lot of things and haven’t been successful yet. Sometimes buyers come from garage/estate sales. We could try an open house on a weekday evening. The real estate magazine comes out this month so that may help. We’ll keep trying!
ME (July 12, 2010): Thanks…I have reserved Aug 21/22.
Maybe at my antique sale? I am going to have it on July 31 I think…
BB (7/12/2010): Good plan!
ME (July 14, 2010): Hope you are enjoying the cooler weather!
Sold a couple of pieces through Craigslist today. Feels good. Saw the Craigslist ad for the house. Looked good.
BB (7/14/2010): Excellent! Sounds like you’ve been productive. I will be out-of-town for a few days for our wedding anniversary — we’re going camping for it. LC will be covering again — she will be checking my email and phone messages, so if you need anything you can just email or call me and she will take care of it. Have a good rest of your week!
ME (July 20, 2010): JC brought someone to look at the house about noon today. Might there be any feedback? An offer?
BB (7/21/2010): I’m back in town now — got your email and emailed JC for feedback. I’ll let you know when I hear from him.
Hope you had a lovely weekend! We had a great time — camping up at Hosmer Lake by the south Sister. Great views, very peaceful and serene, lots of birds. It was lovely!
Remember how I told you that I used to get offers when I was out-of-town? Well, an offer did come in on another house while I was gone. Now I guess I just have to keep going out-of-town to get offers on yours and TS’s! Thanks…
ME (July 21, 2010): Glad you had a good time. Look forward to the feedback… what was the price of the house that sold?
I have refigured my price and I can go as low as $442,000…or $437,000 a rock bottom. $437 is not my preferred, but it would pay off the mortgages.
Look forward to feedback from yesterday’s visitors. Cheers…
BB (7/21/2010): The house that got the offer is a duplex in West part of town priced at $199,000. Completely different ball of wax. Seems like the lower priced homes — those under $300k — are still selling fine. It’s the mid-range and upper range home that are currently stagnant.
So, in refiguring your price, do you want to do another price reduction? Now or by the next open house in August? Let me know your thoughts.
No feedback from JC yet, but I’ll let you know when I hear. Thanks…
BB (7/23/2010): The title person is working on the estimates. Should have them for me either by the end of the day or by Monday morning. Meanwhile, the Condo sellers are packing for their trip today — so we can’t see it today. I told Emma that we will get the numbers from the title company and then see it either this weekend or on Monday. I’ll forward you the numbers I get and we’ll go from there. Sound good? Thanks…
ME (July 26, 2010): What time do you want to meet at the condo tomorrow? I’m open all day…thanks
BB (7/26/2010): I’m waiting to hear from one other person about scheduling tomorrow — so can we tentatively say 3 p.m.? I’ll call tomorrow morning if I need to change to a different time — does that work for you? Thanks…
ME (July 26, 2010): 3pm is fine!
Thanks…see you tomorrow.
BB (7/26/2010): So, I got an email from EH saying that she talked to S… and S… is excited, but R… still wants to see your house. They are out-of-town until Sunday and Emma will be out-of-town next week, so I’ll be the one showing it to them — probably Monday or Tuesday.
As your realtor, I am not conveying the magnitude of your enthusiasm at this point to EH for negotiation purposes, if you know what I mean. I’ve told her that it might work and so far you like it — but I don’t want to tell her you’re set on doing it until I know that they are for sure set on doing it. For negotiations, I’ve learned, you don”t want to appear overly enthusiastic at the beginning… if that makes sense. Also, since R… hasn’t seen your house yet, I want to temper your enthusiasm a little — I don’t want you to move and arrange all the furniture in your mind yet if they are saying that he still needs to see it. So, my advice to you is to have a “wait and see” attitude right now and the tactic that I’m taking is a “it’s a possibility” stance. My thinking is that if we come across as too anxious then they may think that you’ll be willing to negotiate a much lower price — and as your representative, I want to convey it at this point as being something that you would consider. But if I express “You love it and is ready to move!” then they may react in a different way than I would like them to. I’m not trying to be manipulative in any way, of course, just want to make sure that we are in a good position to negotiate should everyone decide to do it. Does that make sense?
ME (July 27, 2010): All is well. I took the car to the garage where they service it all the time. The mechanic said it would take several hours to figure out what was wrong, so I told him to put everything back together and get the top up, as I didn’t have the cash to pay $500+ on the top right now. So he did, and the car is in the garage. Only cost $122.
So, back to the condo. I can go visit anytime this week. Let me know. Cheers…
BB (7/27/2010): Glad to hear that all is well! Bad time of the year to have problems with a convertible — this is when you want them to work well.
Also, I have tentatively scheduled Tuesday at noon for S… & R… to see your house — waiting to hear back from them to confirm. Does Tuesday at noon work for you?
SL (July 28, 2010): Please forgive me — we’re going to pass. I was swept away by the idea of a house swap, but upon reviewing my notes & looking at photos on line, I know the house isn’t for us. I’m sorry for any inconvenience.
BB (7/29/2010): I’m calling you about this right now.
ME (July 29, 2010): Hi…I think I’m over the trade. At least next time I will be prepared. Thanks for all your work.
My sister’s birthday is Sunday. I have decided to go down to CA to help her celebrate. Haven’t seen her in a long time. I will come back on Monday, because next week is busy for me. Thanks again…