I was looking through Zillow this afternoon for homes that may work for one of my clients. I was amazed at all of the people that are trying to sell homes on their own that are using Zillow. As I scrolled through the listings, one thing jumped out at me. Most all of the homes look to be overpriced.
Zillow has some sort of formula that determines the value of a home in Kalispell, or anywhere else in the country, for that matter. The interesting part is that Montana is a non disclosure state and the sale price of homes is not public record. So where are they getting these numbers you ask? Who knows?? Here is the problem, if you are the homeowner and you truly feel that your home is worth what you are asking for it, why would you post your home for sale on a site that is telling all of the potential buyers that your home is worth way less than you are asking?
Right out of the gate, any buyers are going to think that you are trying to gouge them on your price.
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This is not the way to start a negotiation! There is one home that has been on the market for almost a year. I feel bad for those people, they have no chance. There are many ways to market your home in order to get top dollar.
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The main way is to market the value of the house as opposed to the price driven approach. Zillow is basing everything on a price that they have pulled out of thin air! If you add up the amount of money that you are spending on house payments, insurance, HOA fees, etc.
Think about how many extra months you will be paying those fees by using a site that is doing nothing but slowing down the sale. It is the preferred practice to deposit earnest monies for a real estate purchase and sales agreement with a neutral third party. This third party is usually the title company performing escrow services. Even though statutory requirements applicable to how a real estate broker accounts for earnest money are relatively precise, when a neutral third party holds the funds a signed release by both parties usually facilitates contract termination without litigation.
Specific performance. In most breach-of-contract cases, money damages are the only remedy. But Montana courts have long held that an order of specific performance is appropriate when a seller breaches a contract to sell real property, because each real property parcel is unique and money damages do not adequately compensate a buyer.
Cascade County, Montana
Spanish Peaks Dev. Real Estate Agents. Property Managers. Montana requires property managers to be licensed.
Make sure you verify the licenses of any real estate agents, brokers, or property managers with which you deal. Many non-investors purchase real property less than four times in their life. Buying property is usually the largest investment a person will ever undertake, and so good planning is mandatory.
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An old adage is that when purchasing property the sale of it should be contemplated in order to fully understand the ramifications of the purchase. It is important to get representations about the condition of real property in writing. If someone is not willing to commit to a representation in writing, that should be an immediate red flag recommending caution. NOTE : This posting is not legal advice.
This information is general in nature. Legal advice is based on specific facts. Contact Macomber Law if you have a specific concern about a particular parcel of land. General Tips A.
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Get it in writing. Oral contracts to convey interests in real property are invalid in Montana. Montana courts will not typically enforce oral agreements to convey interests in real estate. Be specific. Be prepared to identify and clarify vague, ambiguous, or overbroad contract wording. Montana courts will not enforce any implied meanings or assumptions you had going into the purchase.
Get specific before you buy. Be specific about what performance is expected, the timeframe within which the performance must be completed, and the remedies each party has if the other party does not perform on time. Due Diligence A. A drone mapping flyover will allow analysis of topographic and other features. If your parcel needs septic wastewater treatment onsite, you may need percolation testing. It may help to check with your potential neighbors for their experience with their land. A person acquires water rights in Montana by diverting water to a beneficial use. Whether diversion is from surface water or from a well, a permit is required from the Montana Department of Natural Resources and Conservation, Water Rights Bureau.
In that situation, vacant parcels not served by an existing diversion will likely have no water rights. Special needs.
Be sure to account for special needs for your planned use, such as physical accommodations for handicapped persons or assessment of public school education. Conveyances of real property in Montana are required to be in writing.
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A grant of real property must be substantively in the form prescribed in Montana Code Annotated section The Montana Association of Realtors has developed a set of forms for real property transactions, although no specific forms are legally required. Homeowner Association Records and Budgets. Financial or other governing entity documents include meeting minutes of boards of directors and members, and financial statements of account.
You need to ask for those records for your review and approval within the due diligence period negotiated in your real estate purchase contract, or be ready to live with the results after close of escrow.
Look for financial records of funds held in reserve to assure capital maintenance can be completed without surprise special assessments. Monetary reserves for capital asset maintenance or replacement are not required in Montana. This means associations with physical assets to maintain, be they land or mechanical in nature, are better served with a portion of association dues going toward a reserve account in an amount sufficient to service the land or replace the physical asset at its projected end of life.
Bylaws and Rules and Regulations. Applicable bylaws and rules and regulations of a homeowner or condominium association are other documents you may encounter. Montana Code Annotated section requires condominium associations to record their bylaws along with any amendments. Articles of Incorporation.