>> HI AND WELCOME BACK.

I'LL BE YOUR HOST FOR THE NEXT HALF HOUR.

TALKING ABOUT ALL THINGS REAL STATE HERE ON WCMU PUBLIC TELEVISION.

LET ME WELCOME OUR GUESTS.

THANK YOU BOTH FOR BEING HERE THIS EVENING.

CARL AND ROBIN, BEFORE WE START TALKING ABOUT ALL THINGS REAL ESTATE, CAN YOU TELL VIEWERS A LITTLE BIT ABOUT YOURSELF, YOUR AREA OF SPECIALTY.

ROBIN, WE'LL START WITH YOU.

>> SURE, I'VE BEEN IN REAL ESTATE SINCE THE EARLY '80s.

I MOSTLY SELL RESIDENTIAL REAL ESTATE.

I RECENTLY OPENED MY OWN COMPANY, BUT I'VE ENJOYED IT WHEN I WORKED FOR ANOTHER COMPANY AND NOW FOR MY OWN PLACE.

THANK YOU FOR HAVING ME.

>> CARL?

>> CARL CRAWFORD, I'VE BEEN DOING THIS A LITTLE OVER TEN YEARS NOW.

ALL HOME INSPECTIONS, I DO SOME COMMERCIAL AS WELL, BUT INTERIOR, EXTERIOR AS WELL AS SEPTIC INSPECTIONS.

>> AGAIN CARL THANK YOU FOR BEING HERE.

>> THANK YOU.

>> FOR YOU AT HOME, IF YOU HAVE A QUESTION, REAL ESTATE IS THE HOT TOPIC RIGHT NOW.

I HAVE NO DOUBT THAT THERE WILL BE SOME CALLS COMING IN.

IF YOU WANT TO BE PART OF TONIGHT'S CONVERSATION, IF YOU HAVE A QUESTION THERE ARE A FEW DIFFERENT WAYS TO GET QUESTIONS TO US.

YOU ARE CALL THE NUMBER 844-975-3343 OR IF YOU'RE WATCHING US STREAM ON FACEBOOK.

POST YOUR QUESTION TO OUR FACEBOOK PAGE OR SEND US A MESSAGE.

THERE ARE A FEW WAYS TO BE PART OF TONIGHT'S CONVERSATION.

THIS SHOW IS REALLY FUELED BY YOUR CALLS, BY YOUR QUESTIONS.

EVERYTHING IS ANONYMOUS, DON'T HESITATE TO GIVE US A CALL.

IT'S 844-975-3343.

CARL AND ROBIN.

LET'S TALK ABOUT THE HOUSING MARKET.

IT IS--IT'S PRETTY UNIQUE RIGHT NOW.

OVER THE LAST COUPLE OF YEARS WE'VE SEEN HOME PRICES JUMP QUITE A BIT, ACTUALLY.

LAST YEAR, THE CONVERSATION WAS MORE--WHAT DO YOU THINK IS DRIVING THE HOUSING MARKET.

>> I THINK IT IS LACK OF HOUSING AVAILABLE.

YOU KNOW, IF SOMEBODY IS--YOU KNOW, WE USED TO JUST SAY LOOK AT THE SIGNS BECAUSE THERE WERE A TON OF THEM OUT THERE.

RIGHT NOW IF YOU'RE LOOKING FOR SIGNS, THERE ARE NOT THAT MANY OUT THERE.

WE WILL SEE PEOPLE OH, IF SOMEONE PUT THEIR HOME ON THE MARKETS, THEY MAY GET THREE, FOUR, SIX OFFERS ON IT.

WE REAER--REALTORS, WE WANT ONE SERIOUS BUYER.

BUT WHEN YOU'RE A SELLER, YOU LIKE TO SEE FOUR OR FIVE.

>> YES.

>> THAT'S WHAT PEOPLE ARE MOST EXCITED ABOUT.

>> SURE, SURE.

AS WE'RE SAYING IT'S BEEN A HOT MARKET ESPECIALLY HERE IN THIS REGION.

ARE THERE SIGNS WE'RE GOING INTO FALL, WINTER, ARE THERE SIGNS THAT IT MIGHT BE SOFTENING RIGHT NOW?

>> I THINK IT'S ADJUSTING.

I DON'T THINK IT'S GOING TO TAKE A DIVE.

I THINK IT WILL ADJUST A LIST BIT.

INTEREST RATES ARE SO WONDERFUL.

BANKS ARE ADJUSTING A LITTLE BIT.

YOU KNOW, YOU MAY NOT SEE A HOUSE SELL ON DAY ONE AFTER GOING ON THE MARKETS, BUT IT'S CHANGING A LITTLE BIT.

I THINK WE ALWAYS SEE SOME CHANGE IN THE FALL, BUT YOU KNOW, I THINK IT'S STILL REALLY GOOD, AND I THINK IF YOU'RE A BUYER, THERE IS A HOME FOR YOU.

IT MAY TAKE A WHILE.

BUYERS ARE OFTEN LOSING OUT ON SOME HOMES, AND IT'S HARD TO COMPETE.

YOU GOT TO MAKE YOUR BEST OFFER, YOU GOT TO BE READY, YOU CAN'T THINK ABOUT IT FOR A FEW DAYS.

YOU GOT TO BE PREPARED AND BE READY.

>> GOT IT, THAT'S REALLY GOOD ADVICE.

LET'S TALK ABOUT HOME INSPECTIONS, WHAT CAN SOMEONE EXPECT DURING A HOME EXCEPTION?

>> AS FAR AS FOR MYSELF ANY WAY.

I OH DO A COMPLETED EXTERIOR ROOF INSPECTION, INTERIOR.

I LIKE TO LOOK AT AS MUCH AS I CAN WITHOUT UNPLUGGING ELECTRONICS, AND THEN I GET INTO THE HEATING, COOL, PLUMBING, ELECTRICAL.

IT'S A COMPLETE HOME INSPECTION.

>> TOP TO BOTTOM, INSIDE-OUTSIDE.

>> YES.

>> CAN I SAY ONE THING?

I LIKE TO TELL PEOPLE IF THEY WOULD LIKE TO KNOW MORE ABOUT MOLD AND RAYDON TO LET YOU KNOW HEADS OF TIME.

>> IT IS NOT PART OF IT, BUT IT CAN BE?

>> IT CERTAINLY CAN BE.

>> HOW LONG DO INSPECTIONS TAKE?

>> TYPICALLY IT WILL TAKE TWO HOURS FOR A HOME INSPECTION.

>> AND RIGHT NOW, WITH THIS MARKETS, HOW QUICKLY ARE THEY TAKING PLACE?

WHAT IS YOUR WAIT TIME?

>> RIGHT NOW, I'M BOOKING--SOMETIMES THREE TO FOUR DAYS OUT.

IN THIS MARKETS RIGHT NOW.

>> GOT IT.

OF OH, OKAY.

WE'VE GOT A CALLER FROM JOHANNESBURG.

IF A HOME INSPECTION COMES BACK ALL CLEAR, BUT THE NEW HOMEOWNERS FIND ISSUES, WHO IS LIABLE?

IS THAT SOMETHING THAT HAS BEEN ENCOUNTERED BEFORE?

>> WELL, I DON'T KNOW IF EVERY HOME INSPECTOR IS GOING TO CATCH EVERY PROBLEM WITH ITS HOUSE.

SO I THINK IT'S GOING TO LEAN MORE INTO WHAT TYPE OF PROBLEM YOU'VE GOT.

AND WHETHER IT WAS COVERED DURING THE HOME INSPECTION.

>> GOT IT.

WHAT IS YOUR EXPERIENCE?

HAVE YOU HAD ISSUES LIKE THAT BEFORE WITH CLIENTS?

>> SOMETIMES.

SOMETIMES SOME THINGS CAN'T BE INSPECTED, SOMETIMES THE SELLER WILL SWEAR THERE IS NO ISSUE WHATSOEVER, AND THEN THE BUYER WILL ACCEPT THAT AND THERE WAS AN ISSUE.

SOMETIMES IT'S LIKE THAT ALSO.

>> SURE, SURE.

I'VE GOT ANOTHER QUESTION FROM SOCIAL MEDIA, CAN YOU EXPLAIN THE DIFFERENCE BETWEEN A HOME WARRANTY AND A WARRANTY DEED?

>> A WARRANTY DEED IS FOR, FOR INSTANCE, IF I BOUGHT YOUR HOUSE AT THE CLOSING YOU WOULD BE GIVING A DEED WARRANTING YOUR INTEREST, FOR INSTANCE, TO ME.

I'M NOT A LAWYER.

I'M ALWAYS SUPPOSED TO SAY THAT, THE HOME WARRANTY IS, FOR INSTANCE, WHERE YOU WOULD BUY A WARRANTY FROM A HOME WARRANTY COMPANY, AND YOU WOULD PAY FOR THAT, AND FOR INSTANCE, WHENEVER THREE MONTHS AFTER WE CLOSE, LET'S SAY THE WATER HEATER WENT OUT, THEN I WOULD CALL THE HOME WARRANTY COMPANY, AND SAY THE WATER HEATER WENT OUT, I WOULD PAY THE DEDUCTIBLE.

YOU WOULD HAVE PAID FOR THE WARRANTY AT THE CLOSING, AND THE WARRANTY WOULD AUTHORIZE ME TO CALL A REPAIRMAN AND AUTHORIZE THE REPAIRMAN TO COME AND SAY, YEAH, YOU NEED A WATER HEATER AND HOPE LEVEL THEY WOULD AUTHORIZE THE REPAIR.

>> THERE ARE A FEW STEPS INVOLVED.

A CALL INTERIOR MIDLAND WANTS TO KNOW IF THEY CAN SELL THEIR VACANT ATLANTA WITHOUT LISTING THAT LAND THEMSELVES?

I HAVE AN INACTIVE LICENSE.

>> IF THEY OWN IT, THEY CAN SELL THEIR OWN LAND.

>> I THINK THAT'S-- >> WHAT SHOULD SOMEONE LOOK FOR WHEN THEY'RE BUYING A HOUSE?

WHAT DO YOU TELL YOUR CLIENTS TO LOOK FOR WHEN THEY'RE WALKING THROUGH?

>> IDEALLY THEY QUALIFY TO BUY THE HOUSE THEY'RE LOOKING AT.

IDEALLY THEY'VE ALREADY MET WITH THEIR LOAN OFFICER, ESPECIALLY IN THIS MARKET.

I ALWAYS SAY THAT'S ONE THING THAT THE SELLER SHOULD BE ABLE TO EXPECT FROM THE REALTOR THAT THEY'VE PRE-QUALIFIED WITH THE BANK, AND THAT THEY QUALIFY WITH THE BANK AND THEY QUALIFY WITH WHAT THEY'RE COMFORTABLE WITH, AND THAT IT MEETS THEIR NEEDS, LOCATION-WISE, STYLE-WISE.

IF THEY'RE WANTING A RANCH, IT'S STILL--SILLY TO BE LOOKING AT TWO STORIES.

IF THAT'S WHAT THEY WANT, A CERTAIN STYLE, THAT IT IS IN THE AREA THEY WANT.

IF THEY SAY THEY HAVE TO HAVE A CERTAIN AREA, IT'S AGAIN SILLY TO BE LOOKING 50 MILES AWAY UNLESS THEY'RE CHOOSING THAT.

REALTORS DON'T WANT TO BE CHOICE LIMITING.

WE WANT TO SHE THEM WHERE THEY WANT TO BE.

IF THEY'RE LOOKING FOR SOMETHING WITH A BASEMENT, IT'S SILLY FOR US TO SHOW THEM SOMETHING THAT DOESN'T HAVE A BASEMENT.

BUT WE ALWAYS SAY WHAT BUYERS TELL US AND WHAT THEY END UP BUYING OFTEN DON'T RESINGLIBLE EACH OTHER.

WE CHECK AS MANY BOXES AS THEY'RE TELLING US.

>> THAT COULD BE A BIG ISSUE WITH A HOUSE IF WE HAVE MOISTURE INTRUSION INTO A HOUSE, CERTAINLY LOOK IN THE ATTIC SPACES, AND MAKE SURE WE DON'T HAVE ANY ISSUES UP IN THERE.

THE NEXT QUESTION FROM SOCIAL MEDIA, WHAT KIND OF INSPECTIONS ARE ORDERED BY THE COUNTY?

DOES IT VARY COUNTY TO COUNTY, TOWNSHIP TO TOWNSHIP.

>> TIME OF TRANSFER IS PREVALENT.

>> AND WHAT IS TIME OF TRANSFER.

>> IT'S WELL INSPECTION, WELL OR SEPTIC.

THERE ARE--IN ORDER TO SELL, IT IS REQUIRED THAT THOSE ARE INSPECTED.

>> THAT'S SOMETHING NEW TO ISABELLA COUNTY, RIGHT?

>> YES, WITHIN FOUR YEARS.

>> AND YOU HAVE TO HAVE A TIME OF TRANSFER BEFORE YOU CAN CLOSE, IS THAT RIGHT?

>> CORRECT.

>> ROBIN?

>> I WAS JUST THINKING, THERE ARE A COUPLE OF EXCEPTIONS LIKE IF I WERE--IF SOMEONE WERE DIVORCING, THEY WOULDN'T HAVE TO SELL TO THEIR SPOUSE OR EX-SPOUSE.

THERE ARE A HANDFUL OF EXCEPTIONS BUT NOT VERY MANY.

>> OKAY.

GOT IT.

AND FOR SOMEONE--WE WERE TALKING ABOUT THIS BEFORE THE PROGRAM STARTED--THE TIME OF TRANSFER, HOW THIS IS A GOOD REASON TO HAVE A REALTOR.

SOME PEOPLE MAY NOT BE AWARE THAT THIS EXISTS.

>> WE SEE THIS A LOT.

IF SOMEONE IS HANDLING THEIR OWN TRANSACTION, FOR INSTANCE, AND THAT'S JUST ONE EXAMPLE, THINGS THAT THEY DON'T KNOW ABOUT.

YOU KNOW, EVERYBODY KNOWS THEY'RE SAVING COMMISSION, AND THAT'S IN MIRROR MIND.

BUT THEN THEY LEARN THEY MIGHT HAVE LOST A LOT OF THINGS THAT THEY DIDN'T REALIZE.

AND TIME OF TRANSFER IS ONE THAT THEY DON'T REALIZE THAT THEY HAVE TO HAVE THAT TO SELL.

TO CLOSE.

IS WHAT THEY NEED.

AND SO, THEN IF ESPECIALLY THERE IS A PROBLEM ON THE TIME OF TRANSFER, LIKE IF THEY NEED A NEW SEPTIC OR NEED A NEW WELL, YOU DON'T GET EITHER ONE OF THOSE PLUS THE TEST.

THAT DOESN'T HAPPEN INSTANTLY.

AND SO IF YOU WERE PLANNING ON CLOSING ON MONDAY, AND TODAY YOU FOUND OUT YOU NEED THAT TEST, THAT'S GOING TO DELAY YOUR CLOSING.

>> THE TEST YOU'RE TALKING IS A WATER SAMPLE TEST, RIGHTS?

>> WELL, THAT, AND CHECKING THE SEPTIC AND YOU HAVE TO HAVE THE TANK PUMPED BEFORE THAT.

ALL THOSE THINGS TAKE A FEW DAYS, IF NOT A COUPLE OF WEEKS.

>> YEP.

>> THAT'S IF EVERYTHING IS GOING WELL.

>> YEP.

>> AND THAT'S IF EVERYTHING IS FINE.

>> GOT IT.

THERE ARE QUITE A FEW PIECES TO THE TIME OF TRANSFER THAT ARE INVOLVED WITH THAT.

ON AVERAGE, WHAT DOES A HOME INSPECTOR CHARGE?

WHAT AREAS DO YOU COVER?

>> I PRIMARILY WORK UP THE 127 OF CORRIDOR AND THEN WADEMAN AND THEN THIS DIRECTION.

THAT'S MY PRIMARY.

THAT KEEPS ME PLENTY BUSY.

>> YES, I'M SURE, I'M SURE.

A DAIRY FARM THAT IS UNDER 300 ACRES.

WOULD IT BE BENEFICIAL TO SELL IT ALL AT ONCE OR IN PARTS?

IT HAS FIELDS AND ROOM FOR CATTLE AND FARM BUILDINGS.

>> I WOULD ENCOURAGE THEM TO TALK TO A REALTOR THAT ESPECIALLY ONE THAT IS VERY FAMILIAR WITH THAT KIND OF PROPERTY.

YOU KNOW, LIKE I WAS SAYING, I REALLY SPECIALIZE IN RESIDENTIAL.

THERE ARE AGENTS WHO SPECIALIZE IN FARMINGS AND COMMERCIAL AND THAT KIND OF THING.

I WOULD TALK TO THAT KIND OF AGENTS.

>> OKAY.

>> IT DEPENDS ON WHERE IT IS AND WHAT'S GOING ON IN THAT COMMUNITY.

>> SURE, THAT'S WHO WE TALK TO, GOOD ADVICE.

WE HAVE 15 MINUTES LEFT IN TONIGHT'S PROGRAM.

IF YOU HAVE A QUESTION, WE'RE HERE TO TRY TO GET YOU SOME ANSWERS.

YOU CAN CALL THE NUMBER ON YOUR SCREEN, IT'S 844-975-3343.

IF YOU'RE WATCHING US STREAM ON FACEBOOK YOU CAN POST YOUR QUESTION THERE AND SEND US A QUESTION ANONYMOUSLY.

EVERYTHING IS ANONYMOUS HERE.

GO AHEAD AND PICK UP THAT PHONE AND HOPEFULLY WE'VE GOT ANSWERS FOR YOU.

WE HAVE ANOTHER QUESTION FROM SOCIAL MEDIA.

THEY'RE SEEING MOISTURE IN WINDOWS.

SHOULD THAT BE A DEAL BREAKER WELL, IF IT'S MOISTURE WITHIN THE WINDOW PANE, IF THERE IS MOISTURE WITHIN THE WINDOW, THERE COULD BE A MIX OF WARM AND COLD AIR.

THERE IS A LITTLE BIT OF INVESTIGATION TO GO ON TO SEE WHAT THE ISSUE.

>> THERE COULD BE A COUPLE OF DIFFERENT THINGS.

>> SHOULD ALMOST ALWAYS DO A HOME INSPECTION BEFORE BUYING A PROPERTY?

>> I CERTAINLY RECOMMEND IT.

>> SURE.

>> BUT THAT'S THE BUSINESS THAT I'M IN.

>> ABSOLUTELY.

>> I RECOMMEND IT.

EVEN WHEN SOMEBODY HAS AN UNCLE, FOR INSTANCE, THAT'S A CONTRACTOR, I THINK THAT'S FINE, BUT I STILL THINK THAT YOU SHOULD GET AN INSPECTION BECAUSE LIKE IF THEY MISS SOMETHING REALLY EXPENSIVE, THEN I THINK CHRISTMAS DINNERS WILL BE UNCOMFORTABLE.

>> AND EVEN IF SOMEBODY REALLY GOOD AT LOOKING AT THAT THING, THEY BUILT TEN HOUSES OF THEIR OWN, WHATEVER, I FEEL LIKE I LOOK OUT MORE SO FOR EVERYBODY ELSE THAN I DO FOR MYSELF.

AND I JUST THINK THAT YOU SHOULD HAVE SOMEONE WHO IS WORKING FOR YOU.

>> ABSOLUTELY.

AND AN INSPECTION, TOO, SOMETIMES THEY'RE REQUIRED BY THE LENDER, RIGHT?

IS THAT-- >> THEY MAY BE.

SOME LENDERS DON'T NECESSARILY ASK FOR IT UNLESS THE APPRAISER POINTED OUT SOMETHING.

THE APPRAISERS ARE THERE TO APPRAISE.

MAYBE THEY SOUGHT SOMETHING ON THE ROOF THAT MADE THEM A LITTLE NERVOUS.

THEY MAY SAY THAT SOMEBODY HAS TO--SAY THE ROOF HAS A THREE-YEAR EXPECTED LIFE, FREQUENCE.

THEY WON'T SAY THAT THE HOUSE HAS TO BE INSPECTED, AND A LOT OF PEOPLE CONFUSE THE TWO.

BUT THEY MAY NOT ASK FOR AN INSPECTION, BUT THEY'LL WANT SOME CONFIRMATION THAT SOMETHING IS OKAY, OR MAYBE THEY THOUGHT THE FURNACE WAS 50 YEARS OLD, AND WANT SOMEONE TO SAY THAT THE FURNACE IS OKAY.

THEY MAY NOT NECESSARILY WANT THE WHOLE THING INSPECTED.

>> SAME THING, DO YOU RECOMMEND EVERYONE GETS AN APPRAISAL.

>> IF THEY'RE GOING TO THE BANK, THEY HAVE TO HAVE THAT.

>> WE'VE GOT FLOOR QUESTION FROM SOCIAL MEDIA.

THEY BOUGHT LAND--IF WE BOUGHT LAND CHEAP AND SELL HIGH, WILL WE BE CHARGED A FEE, AND HOW DO WE FIGURE THIS FEE?

>> IF THEY'RE USING A REALTOR, THAT'S BETWEEN THEM.

>> THE REALTOR, OKAY.

ROBIN, WHAT ARE SOME OF THE BEST WAYS PEOPLE CAN INVEST IN THEIR HOME?

WHICH IMPROVEMENTS PROBABLY HAVE THE BEST RETURN?

>> STATISTICALLY IT'S USUALLY THE KITCHEN AND THE BATHROOM.

YOU KNOW, THOSE KIND--THOSE TWO ROOMS ARE SUPPOSED TO BE THE BEST.

>> OKAY, ALL RIGHT.

KITCHENS AND BATHROOMS, YEP.

WHAT ARE SOME WAYS TO SAVE ON CLOSING COSTS?

>> WELL, PEOPLE--THEY ALWAYS THINK OF OUR COMMISSION, THAT'S THE ONE THEY KNOW THEY HAVE.

TO MY KNOWLEDGE YOU CAN'T SAVE ON WHAT YOU'RE GOING TO PAY THE COUNTY AND THE STATE, THOSE TAXES.

I'VE NEVER KNOWN THEM TO NEGOTIATE.

>> YOU HAVE A DEED, AND NORMALLIAGE ATTORNEY WOULD PREPARE THAT.

YOU'LL HAVE TITLE INSURANCE, OF THAT'S BASED ON SELL PRICE ALSO.

AND WE PRO RATE THE TAXES, AND I DON'T KNOW THAT YOU CAN NEGOTIATE THAT EITHER, WHAT YOUR TAXES ARE.

AND THEN YOUR NEGOTIATE.

IF YOU GET YOUR MORTGAGE PAID OFF SOONER, THAT'S SOMETHING LESS TO PAY.

AND THEN SOMETIMES THERE ARE SELLER CONCESSIONS.

YOU NEGOTIATE THOSE ON YOUR PURCHASE AGREEMENT.

>> CARL, IS IT BEST TO DEAL WITH A HUGE PROBLEM WHEN BUYING A HOUSE?

HOW OFTEN DO YOU SEE THOSE NOW?

>> IN HOUSES IT'S USUALLY PIPE WRAP OR ASBESTOS FLOOR TILES.

AS LONG AS WE NOTE THAT WHEN WE DO THE INSPECTION.

SOME REMEDIATION IS NOT THAT EXPENSIVE.

AND SOME CAN BE COVERED, AND ALSO SIDING TILES THAT CONTAIN SOME ASBESTOS.

>> I HAVEN'T HEARD THAT BEFORE.

>> MATCH THE MARKET VALUE AND APPRAISED VALUE.

>> IDEALLY, THEY'RE PRETTY SIMILAR.

IT CAN BE DIFFERENT.

A LOT OF PEOPLE THINK THAT MARKET WILL BE WHAT YOU THINK WOULD YOU WOULD SELL IT FOR AND WHAT I WOULD PAY FOR IT, AND THE APPRAISAL IS IDEALLY IS WHAT IF YOU HAD A SALE--IF YOU WERE SELLING YOUR HOUSE, AND YOU HAD A PURCHASE AGREEMENT ON IT, IDEALLY I SHOULD BE ABLE TO FIND COMPARABLE SELLS TO JUSTIFY THAT.

IN THIS FAST MARKET TIMES IT ACHES A WHILE FOR THEM TO PASS UP ON THAT.

SOMETIMES WHEN THINGS ARE MOVING REALLY FAST IT CAN TAKE A LITTLE BIT OF TIME FOR THAT TO CATCH UP.

>> SPEAKING OF PURCHASE AGREEMENT, IS A PURCHASE AGREEMENT A BINDING CONTRACT?

>> IT IS A CONTRACT.

IF SOMEONE IS REQUESTING SOMETHING, AGAIN THEY OUGHT TO BE TALK TO THEIR ATTORNEY.

>> PERRER.

>> WHO DECIDES IF LAND IS BUILDABLE?

DO YOU WANT TO TALK?

>> SURE.

>> THAT'S--THAT'S A TOUGH QUESTION BECAUSE IF YOU GET INTO SOME OF THE WETLAND AREAS, YOU KNOW, CAT TAILS AND THAT, THAT'S GOING TO BE DIRECTED MORE BY THE STATE.

PROBABLY SHOULD.

>> BE--CONTACT THE COUNTY.

>> YES.

>> ALL RIGHT.

THAT'S A GOOD STARTING POINT.

>> YOU CAN GO ON--YOU KNOW, THERE IS A FEMA SITE THAT SHOWS YOU DIFFERENT ZONES.

IF YOU'RE GOING TO THE BANK THOSE ARE FLOOD IN DETERMINATIONS.

THOSE AREN'T GOSPEL, BUT YOU CAN GET AN IDEA IF THEY THINK YOU ARE.

AND THE SELLER WHO HAS BEEN LIVING IN THE AREA OR MAYBE IN NEXT DOOR WHERE THEY'RE SELLING.

MAYBE THEY'VE HAD WATER.

WE'VE NEVER HAD WATER NEAR HERE.

BUT MAYBE A SURVEYOR CAN START THAT DETERMINATION THAT IT IS NOT THE ZONE THAT AT THIS PIERCE TO BE BY THIS MAP, Q.

POWERFUL.

>> OKAY.

GOT IT.

CARL, I DON'T KNOW IF THIS WILL MEAN ANYTHING, BUT IN THE REALTOR INDUSTRY WHAT IS THE TERM "LADY-BIRD EFFECT."

>> PROBABLY "HE LADY-BIRD DEED."

YOU WOULD WANT THE HELP OF AN ATTORNEY, IT'S WHEN SOMEONE PASSES AWAY AND THE TRANSFER.

YOU WOULD WANT TO INVOLVE YOUR ATTORNEY.

>> WILL MICHIGAN EVER EQUALIZE THEIR PUNCH.

>> I CAN'T SPEAK FOR THEM, BUT I DOUBT IT.

>> THE JURY IS STILL OUT ON THAT ONE.

IF SOMEONE IS IN THE MARKET FOR A FORECLOSED HOME, SHOULD THE BUYER OFFER MORE OR LESS THAN WHAT WHEN THE SELLER IS ASKING FOR IT?

>> THERE OFTEN COMPETITIVE, AND OFTEN THEY SELL FORGER HIGHER THAN WHAT THEY'RE BEING OFFERED AT.

>> ALL RIGHT.

CALLER FROM EAST IS THERE A NEED FOR REDUCING FLAMES.

PLASM I SHOULD HAVE READ THIS QUESTION BEFORE I WENT INTO IT.

IS THERE A MEAN TO REDUCING AN AGING MEAN ON A PIECE OF PROPERTY WHEN SELLING IT AFTER 20 TO 30 YEARS?

YOU KNOW WHAT, WE'RE GOING TO MOVE ON.

ROBIN, WHAT ARE YOUR THOUGHTS ON ZILLOW.

HOW ACCURATE ARE THOSE ESTIMATES.

>> I'VE SEEN SOMEWHERE THEY WERE KIND OF ACCURATE, THAT'S IF THE PROPERTY HAD RECENTLY SOLD, THEN IT TENDS TO BE WHAT THAT SELL PRICE DOES.

I'VE SEEN SOME THAT WERE REALLY LOW, AND I'VE SEEN SOME REALLY LOW.

I'VE SEEN THEM ALL OVER THE BOARD.

IF YOU REALLY WANT TO KNOW, HAVE AN AGENCY DO A MARKET ANALYSIS.

>> CARLOSER RAILROAD THERE ANYONE UNIQUE LAW THAT SELLERS RUN INTO?

>> I GUESS THAT COULD QUALIFY IS THE TIME OF TRANSFER IN CASE YOU'RE NOT FAMILIAR WITH THAT AROUND HERE.

>> YES.

>> ARE THERE OTHER PLACES THAT REQUIRE TIME OF TRANSFER?

>> THERE ARE A FEW, YOU GET INTO GLADWIN.

THERE WERE ARE AN OH REQUIRE THEM, AND MOST OF THE AREAS RIGHT AROUND HERE DO NOT REMEMBER REQUIRER YOU REMEMBER FRONT ROOM IT WOULD BE UP TO THE BUYER TO DO A WELL AND SEPTIC INSPECTION.

>> WHEN BUYING A NEW PIECE OF PROPERTY, SHOULD I HAVE TO BE SHOWN A SURVEY?

THEY'RE A NEW BUYER SO THEY'VE GOT LOTS OF QUESTIONS.

>> IF THEY WANTED TO KNOW FOR SURE WHERE THE LOT, OF THEY SHUT EITHER NEGOTIATE WITH THE STELLAR ORIGINAL HAVE IT PLANNED THEIR EXPENSES.

A LOT OF PEOPLE THINK THEY KNOW WHERE THEIR LOT LINES ARE, AND THEY DON'T.

RATS PURCHASE GLUNCH I MEAN, WE SEE ALL THE TIME WHERE SOMEBODY THINKS THEY KNOW FOR SURE WHERE THE LINES ARE, AND THEY DON'T.

>> OKAY.

>> LET'S TALK ABOUT CLOSING COSTS.

ON AVERAGE, HOW MUCH ARE CLOSING COSTS?

>> IT DEPENDS ON IF YOU'RE TALKING BUYER, SELLER, AND IF BUYER CONCESSIONS ARE INVOLVED.

>> MM-HMM.

>> IF I WERE LISTING CARL'S HOUSE.

[ CHUCKLING ] I WOULD SAY ESTIMATE MAYBE 9%, FOR INSTANCE.

BECAUSE AGAIN PEOPLE AMENS THINK ABOUT COMMUNICATION.

THAT'S ALL MANUFACTURE THEY DON'T TAKE INTO ACCOUNT THE COUNTY AND THE STATE AND THE DEED AND TITLE INSURANCE.

I DON'T COUNT PRO RATING BECAUSE THEY WOULD DO THAT EITHER WAY.

THERE ARE SEVERAL THINGS THAT THREE MAY NOT REALIZE THAT THEY HAVE.

ARE THERE WAYS TO SAVE ON CLOSING COSTS.

>> IF A FHA OR VA, THEY WILL ASK THE SELL FOR PAY THAT, THAT'S OFTEN JUST INCREASE THE PRICE, AND THAT'S HOW THE BUYER WILL DO IT.

>> ALL RIGHT, WE'RE ALL OUT OF TIME.

THANK YOU BOTH FOR BEING HERE.

THANK YOU AT HOME FOR WATCHING.

WE'LL SEE YOU NEXT WEEK FOR ANOTHER SHOW OF "ASK THE SPECIALIST.

HAVE A GOOD NIGHT.