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Home Selling in Woodinville : Real Estate Advice

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Activity 4
Thu Jul 23, 2015
Christopher Pagli answered:
You won't get a response from the admins in this q&a forum, you'll have to contact Trulia customer service.
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Tue Oct 9, 2012
Karen Mcknight answered:
Hi Carissa,

Lease Option contracts have a very high percentage of failure. Usually the earnest money in the purchase part of the lease purchase is non-refundable. But that totally depends on your specific contract. Deciding how to handle the earnest money is guided by the wording of the purchase and sale agreement part of your contract.

The lease payments are a separate issue. Hopefully you got first and last month lease payments plus a security deposit for the lease portion. Your lease contract will guide your choices here also.

Lease purchase is actually a good seller strategy because if the buyer / lessee decides not to move forward, you have their non-refundable earnest money and / or you still own the property. You can do another lease purchase, you can sell the property, or you can keep it as a long term rental, which is the best way to build wealth. You have lots of choices.

You received lease money for quite a few months and now the market has improved, so it is possibly a better time to sell than it was when you signed the lease. I sell in the Woodinville area and would be happy to meet with you for a no obligation consultation on your specific situation. I also work with investors

You can contact me at my web site, http://www.karenmcknight.com .

Warm Regards,
Karen
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Fri Sep 26, 2008
Bill Eckler answered:
Travis,

Talk with several lending agencies to determine the amount you qualify for and to get a handle on the different programs and options you have. Request an approval letter stating your maximum approval amount for future use.

Once you have this out of the way you can pretty much decide on the areas on which to focus your attention.

Buying a home should be an exciting time. Take your time and enjoy the "hunt" making sure it's an enjoyable adventure leading to a new chapter of life.

Good luck,
The "Eckler Team"
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Mon Aug 4, 2008
Karen Mcknight answered:
K. Shaughnessy, It sounds as if you have a lovely home on the market. Unfortunately, when we have a house on the market, we agents can't depend, verbatim, on the words of the Realtors who showed it. You, as a Seller can only depend on your Listing agent's interpretation of the activity. For example, a guideline I use, is, if I have had 12 showings on my listing and no offers, that means I am close enough in price for what the property has to offer, to get showings, but not competitive enough to generate a purchase and sale agreement. Real Estate is subject to supply and demand, just like any other product. Right now there is a large supply of inventory and the game you're playing now is to stay ahead of the curve by getting your agent's advise based on the activity. The quicker you move to stay ahead of the market, the more money you'll put in your pocket.

If you want, I can send you a chart showing depreciation and appreciation in the different towns in King County. On my web site, http://www.mcknightrealty.com, if you click on Market Statistics, you can see some great graphs that will give you a clear picture of the Eastside market, which includes Woodinville.
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