Don’t believe these real estate rumors ‘your friend’ might have told you about.
Today we’ll dispel a few real estate rumors floating around out there that ‘your friend’ might have told you about.
1. “My friend said if I wanted to sell my home and I have tenants in it, I can just kick them out.”
Actually, no you can’t. It’s illegal to kick tenants out of your property so you can sell it. California attorneys are salivating right now for the chance to hit you with a lawsuit if you do this. There’s a moratorium in place at the moment for evicting tenants, and you can’t give them notice. You can negotiate through this, but the way this rumor is being presented by ‘your friend’ will get you in trouble.
2. “My friend says that I can buy any foreclosure home because there are plenty of them.”
Foreclosure homes aren’t available to anyone right now. Just like tenant evictions, a moratorium has been set for foreclosure declarations. Let’s be honest: The homes of most homeowners in distress are probably worth more than their loan amounts.
3. “My friend said they sold their home for 1%.”
There is no such thing as 1% for home sellers in terms of Realtor fees. When you sell your home, at the very least you have to pay the buyer’s agent’s commission, which is generally 2.5% in our area. A Realtor saying they can sell your home for just a 1% commission is a classic bait-and-switch, or a strategy for them to get you to commit so they can tack on fees later. Always work with a Realtor who’s authentic and upfront with their fees.
The best way to keep ‘your friend’ as your friend is to let them talk, but if you want to know what’s really happening in the real estate market, give us a call. We’ll offer our expertise and make sure what they say is truth—not fiction. We look forward to hearing from you.