A couple purchased our home for over asking & had a large down payment so appraisal was waved according to buyers. But we have no paperwork yet. Does our realtor get paperwork stating such? It’s been 2 days.

There is a law in the United States called the “Statute of Frauds” which requires certain types of contracts to be executed in writing, including the sale of land. If someone made an offer on your property there should be a written record of it and you are entitled to a copy. Ask you agent […]

I’m considering buying a house with a transformer box in the front yard. Will there be a problem in resale on a future date?

Anything that detracts from the home will hurt its value, especially if it’s in the front yard where everyone can see it. In addition, a transformer box will make some people concerned about the possibility of electric and magnetic fields which some believe can cause cancer. However, if you can purchase the house at the […]

Can a real estate agent create a contract in which if the first buyer’s contract to buy the house fails, the back-up buyer can buy the house?

Yes, it’s called a Back-up Offer Addendum. As a listing agent, I always like having at least one back-up offer to keep the primary buyer moving forward because they know if they push back too hard on repairs or other contingencies there’s somebody else ready to buy the property. Having a back-up offer in place […]