CBI Answers Your Real Estate Questions

Here at Coldwell Banker Innovations we get a lot of questions from our blog readers. This week we decided to roll up our sleeves, reach into the mailbag, and choose three at random to answer…and boy, are they some great questions! 

Listing A Home When You Have Pets—Uh Oh…

Q: Hi, I hope you can help! My husband was offered a promotion that he can’t pass up, which is great, but we have to sell our home, as the new job is six hours away. The problem is that we have three dogs and there’s no way of really hiding the fact. How can we find an interested buyer quickly?

A: Tell your husband “Congratulations!” Moving to a new city can be thrilling, but also a bit stressful, especially when you need to sell a home. Let’s talk about those pooches; we’re assuming you’re under the impression that not every buyer may be thrilled with the fact that three precocious pups have had free reign over the property.

This isn’t necessarily a negative selling point—talk to your sales agent about emphasizing that your home is pet friendly. Do you have a fenced in backyard? Maybe you have a doggie door installed on the rear exit? Additionally, we can provide you with some helpful tips to help pet owners prepare their home for sale.

The Wonderful World Of HOA Fees

Q: I’m not sure if this is right area to pose this question, but as the area’s leading real estate agency, I’m hoping you have some insight into the subject. Why in the world does everyone in my housing development not only have to pay these ridiculous HOA fees only to be subjected to crazy rules and regulations? Sorry for just blurting that out there, but it’s really, really frustrating. Can you explain this to me?

A: No need to apologize, we understand how strange some homeowner association regulations are, but first things first. To begin, HOA fees are usually collected and utilize to maintain common areas in planned housing communities. All homeowners in these developments are expected to abide by agreed upon bylaws and regulations. These rules are put in place so that the aesthetics of your community are appealing and, in theory, improving the market value of all homes in the neighborhood.

Before you purchased your home you were given a copy of these bylaws to review. If you didn’t agree with any of the regulations you wouldn’t have been able to purchase the home. That being said, as a homeowner you can help make changes to these rules. Most associations are open to making amendments to bylaws, voting on how funding is spent and various other community decisions. We suggest reading your specific HOA documents as well as speaking to your community board members.

What’s Up With This Alphabet Soup? 

Q: I was talking to a friend of mine over the weekend and he was telling me how excited he was that he no longer has to pay “PMI” since he’s refinanced his home. I had no idea what that meant, and, truthfully, I was too embarrassed to ask. What is “PMI”?

A: No need to be embarrassed! “PMI” stands for primary mortgage insurance, a fee that can be part of your monthly mortgage payment that actually protects your lender in the event a homeowner defaults on their loan. If you’re curious about other real estate acronyms you may find this article interesting.

We’re just about out of time this week, but keep those questions coming! You can always contact us online or simply call 301.745.1500. We love to help buyers and sellers learn more about the Wonderful World Of Real Estate! Until next time…

Tags: , , , ,

Comments are closed.