ArcaMax

Dear Monty: We intend to negotiate a lot line adjustment with a neighbor. The size of the parcel is about 600 square feet and has been surveyed. Our neighbor is amenable to selling, but the price has yet to be determined. Our home is free and clear, but we think the neighbor has a mortgage. We live in a tiny town near a large metro area. There...Read more

Dear Monty: Three siblings would like to purchase a home together. Two siblings make $30K each, and one makes $80K. Can one of the siblings qualify for government loans and the others still be on the loan? Please advise.

Monty's Answer: The short answer is yes, it's possible, depending on the specific lender and their underwriting guidelines....Read more

Dear Monty: Why is it that so many people rely on price per square foot? Simply put: A home with 12 foot ceilings instead of 8 foot ceilings will typically cost more in materials (e.g., drywall, paint). Construction quality and "newness" can also play a role. I think it's highly misleading that the MLS, Zillow, etc., list the square foot price...Read more

Dear Monty: Our neighbor's house, which was moved here, has been proven by a survey to sit on our property. We told her that, but she ignored us. She later remodeled and mortgaged her house, giving the bank a description of a lot owned by her nearby. The title cleared on the ownership of her lot, but the house, of course, wasn't on that lot. ...Read more

Dear Monty: How can real estate agents use my mom's house, which isn't even for sale, as an advertisement for their business? The ad has a big "contact agent" button on her home info page. That seems like it should be against the law; she has permitted no one to use her property as a come-on so they can sell other properties. Something needs ...Read more

Dear Monty: I have bought and sold several homes as a relocating employee. I have always been curious about how real estate companies establish commissions for their agents. My experiences have ranged from poor to good. Can you explain the system?

Monty's Answer: The majority of real estate companies that rank high in their local markets use ...Read more

Dear Monty: My daughter's future in-laws are long-term homeowners in one of the top California markets. They have sizable equity in their home but still have a mortgage. They have offered to their son to take over the mortgage payments. Neither they nor my daughter are sophisticated about such things (though I am a long-time real estate broker...Read more

Dear Monty: For the past few years, I have seen price history on real estate sites such as Zillow. I recently noticed that the price history is no longer available, thus hiding it from potential purchasers. Are they purposefully trying to hide this info so market trends aren't readily seen, and are they also hiding the profit margins (i.e., ...Read more

Dear Monty: I am a middle-aged male who was recently laid off from a position. I have 20 years of experience in financial services with a large bank. I am looking for other opportunities, and real estate sales are on my list. I know there are different ways agents are paid, but I have no specifics. How are real estate agents paid?

Monty's ...Read more

Dear Monty: I bought a home 21 years ago on a corner lot adjacent to a city swimming pool. The entrance to the pool has a driveway that runs along the side of my property. About two years after I moved in, the local parks department planted three trees along the entrance driveway on the side of my property. Now, those trees' roots are near my ...Read more

Dear Monty: We are first-time homebuyers. We are looking at a home that we like that a flipper is selling. It appears to us that the house has been updated beautifully. There is a new kitchen, bathroom and flooring, and it is freshly painted. Flippers seem to have a poor reputation, making us uneasy about buying it. Several friends have warned...Read more

Dear Monty: We will soon be in the market to buy our first home. We'll start looking for homes the owner is selling without an agent. If we have no luck there, we will turn to an agent we know. If you were buying your first home today, what questions would you ask the seller?

Monty's Answer: A key component is having the seller present when ...Read more