# Real Estate Question



## outdooralex (Jan 7, 2002)

Don't know if I'm crazy or not but I just signed the papers to get our new house built  Now I have to start the process of finding a real estate agent to sell my existing house. My house is in the Down River area (Romulus). Any suggestions or pointers when picking an agent. I want one familiar with my area I know that much. Any suggestions???


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## KS up north (Jan 2, 2004)

I surely hope you can afford 2 mortgages. I started building in Aug 05, and we moved in in early Jan 06. Have been trying to sell our old house since then. 

Why not buy a newer one or hold off til the market picks up?

I don't know who would have the info, but maybe you could find out how many houses are for sale, how many have been sold, and how much they sold for?

Unfortunately, there are tons of existing houses out there.


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## outdooralex (Jan 7, 2002)

Yeah, I know its not the best time right now. There's a couple reasons why we are building now, the main reason is the school districts for the kids. The elementary schools are great here but not real fond of the high schools and middle schools. We've had the property for 9 years now and its in a location where we both like so we don't want to buy a house thats already built. Thanks for the suggestions, I will try to find some of those things out. The one thing thats on my side is that we have been in this house for almost 14 years, so we don't owe to much on it so I'm not going to try to make a killing.


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## wall-ib-jiggin (May 31, 2009)

outdooralex said:


> The one thing thats on my side is that we have been in this house for almost 14 years, so we don't owe to much on it so I'm not going to try to make a killing.


I have one paid off and cant sell it.. The market out there sucks!! I got an offer of 55,000 houses like it were selling for 120-135. Realitor tells me no less than 80,000 OUCH! So it come down to how long do you want to gamble!! I have it rented but would like to sell .. Good luck bro! Hope things work out for ya!!


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## Big Reds (Oct 14, 2007)

Just a thought..... rent out your existing until the market picks up. There are alot of people willing to rent. This will give you a small income, plus you will get more for the home in a better economy.


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## outdooralex (Jan 7, 2002)

I thought about renting and if push comes to shove I may go that route. I don't know to much about renting, is there alot to it. Do you have a real estate set things up. Renting kinda scares me, depending what kind of people you get to rent. I worked with a guy that had horror stories with his renter.


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## wall-ib-jiggin (May 31, 2009)

You can go through a realitor for renters. One thing is dead beats dont go to them to find a rental (usually). Do alot of back ground on the renter. Tell them you want a credit report if they say no dont trust them!!! There are more laws that protect the renter than you so be carefull.. If you get a renter that knows the game he could get about 6 months for free..Make sure you have access to the property at anytime in contract. and stop in every so often to check living conditions. It sucks if you have to remodel after they move out.. renters dont care about your home!!!


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## outdooralex (Jan 7, 2002)

Thats what scares me, I've dumped some money into the house to get it ready to sell. The last thing I need is someone to destroy the house. As far as checking up on them, my parents live about 2 miles from the house so I would be going by quite often. There is alot that really scares me about renting but I guess you got do what you gotta do. The house that we are building wont be ready till next summer so I got a little bit of time. As far as rent payment, do yu charge them a little more than the mortgage?


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## KS up north (Jan 2, 2004)

I know someone who used to rent out their 2nd home. They would do background checks and all, then the day the rental agreement was signed the renter would file eviction papers, since it would take approximately 3 months to get the paperwork back.
By the time they got the eviction papers back the renter would know if they needed to execute the eviction (bad rentee), or cancel (good people).


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## FERG 06 (Oct 6, 2006)

If you want you can stop by and chat about rentals. Too much info to tell about courts, leases, background checks, etc. to put in writing.

Currently have 3 rentals, 1 of which have had for 12 yrs.


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## blgoose44 (Oct 10, 2008)

When picking an agent, I would try to avoid any lengthy contract, Try to avoid the largest companies (many are good, but many hire all the newbies.) also, don't be afraid to let a loan officer put a sign in your yard, when they do this people will contact them first, and often keep people that aren't qualified from wasting your time.


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## WILDCATWICK (Mar 11, 2002)

KS up north said:


> I know someone who used to rent out their 2nd home. They would do background checks and all, then the day the rental agreement was signed the renter would file eviction papers, since it would take approximately 3 months to get the paperwork back.
> By the time they got the eviction papers back the renter would know if they needed to execute the eviction (bad rentee), or cancel (good people).


That's interesting. What do the renters say when they get the certified letter right out of the gate? Then what do they put on "Reason for Eviction"?


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## outdooralex (Jan 7, 2002)

FERG 06 said:


> If you want you can stop by and chat about rentals. Too much info to tell about courts, leases, background checks, etc. to put in writing.
> 
> Currently have 3 rentals, 1 of which have had for 12 yrs.


Just saw your reply Ferg. Thanks for the offer and if I do decide to go that route, I may take you up. I found my real estate agent and we sign the papers tomorrow to put it on the market. I knew the listing was going to be low and it is, no big surprise. She says its going to help me because the price is in the range for somebody just starting out and she also seems to think Obummer is going to extend the first time buyer credit. Thanks again and keep your fingers crossed for me, I'm going to need all the help I can get


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## FERG 06 (Oct 6, 2006)

WILDCATWICK said:


> That's interesting. What do the renters say when they get the certified letter right out of the gate? Then what do they put on "Reason for Eviction"?


You can evict if you want to take back posession to remodel, sell or live in the house even if the tenant has been a model leasee (doesn't mean they can't fight it and drag it out if they get a lawyer) but I would think that if you did that very often they would "get to know you" at the court house and it might work against ya if you had to "really" evict someone. Just saying. 
Agreed the system works against the honest landlord so I wouldn't want to do anything to get a bad repetation with it.



outdooralex said:


> Just saw your reply Ferg. Thanks for the offer and if I do decide to go that route, I may take you up. I found my real estate agent and we sign the papers tomorrow to put it on the market. I knew the listing was going to be low and it is, no big surprise. She says its going to help me because the price is in the range for somebody just starting out and she also seems to think Obummer is going to extend the first time buyer credit. Thanks again and keep your fingers crossed for me, I'm going to need all the help I can get


Offer is still out there even if you just want to b.s. about the outdoors with a fellow citizen. 
I'm self employed and you'll usually find me in the garage all spring/summer/fall.
P.S. Always looking for people to fill seats in the spring/summer for walleye fishing.


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## WILDCATWICK (Mar 11, 2002)

I've had rentals too. I understand that one could evict for the reasons stated. What I don't get is how the tenants react when they get a certified letter right after they move in telling them they will be evicted because the home is going to be sold or any of the other dozen reasons, that could be used. 

You must send the certified notice before you file with the courts correct?


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## FERG 06 (Oct 6, 2006)

WILDCATWICK said:


> I've had rentals too. I understand that one could evict for the reasons stated. What I don't get is how the tenants react when they get a certified letter right after they move in telling them they will be evicted because the home is going to be sold or any of the other dozen reasons, that could be used.
> 
> You must send the certified notice before you file with the courts correct?


Correct.
First step is a offical state form sent cetified. Either a 7 day, pay up or leave, notice or a 30 day eviction notice.

Not a good way to start off a landlord/tenant relationship. They can cause you alot of grief if they want. All it takes is a call to the ordinance dept. Even if you are up to code, in cities that require inspections we all know that even if your place is in good shape they always find something. I've been cited for mold on the bath surround. Not mold in the walls or anything like that but simple everday mold that happens when you don't clean up after yourself. For the life of me I still can't figure out how I'm supposed to police that unless I inspect on a weekly basis which could be consided excessive. :banghead3


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## JohnD4980 (Aug 11, 2009)

Lots of ways to do this. But I will say I have worked with realtors of all kinds and it went fine. But I never signed a contract. There was no point. Google some in you area, read up on their sites and pick a couple to interview.


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## Hammertime989 (Oct 17, 2009)

I work on rentals often. I am a professional licensed builder and it takes me 40-50 hrs. to get a rental fixed, painted and cleaned. Maybe 2 out of 25 houses are NOT disaster areas after the tenant moves out. Just my .02


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## TwodogsNate (Jul 30, 2009)

:evil:I have built & rented many house's I have a great realtor Roy wysack Kellar williams Plymouth. Pm me for more info I have built a few houses in Romulus thx


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