Since 1996, Dale has helped more families buy and sell real estate without commissions than any other person in the history of Kansas City real estate. During this time he as assisted more than 17,000 Kansas City area families buy, sell or trade real estate commission-free. Dale is owner and publisher of Pearson's KC For Sale By Owner magazine, KC's #1 most-read real estate publication since 1996, www.fsbo-kc.com - KC's #1 FSBO listings of private home sales on the internet since 1996; www.FSBOfurniture.com - KC's only online photo furniture sale site; www.kcHomeList.com - KC's most comprehensive listings of homes for sale, one-stop listing of all MLS properties AND active FSBO listings in the 7 county KC metro area, and 3 FSBO retail stores located in Overland Park, KS, Independence, MO and North Kansas City, MO. Pearson is also owner of Owners Land Title Company, www.OwnersLandTitle.com, KC's only direct-to-the consumer title agency with 2 KC area offices. Pearson also owns Caroline Pearson Real Estate with offices in KS and MO since 1999, KC's premier low-cost relocation and flat fee MLS agency.
Submitted by dave from overland park ks
Q: If you list your house with fsbo does that start the clock on how long it has been on the market? So lets say after a few months you decide to go with an agent will they say your house has been on the market for 2 months already?
Answered 04/11/08 14:39:46 by Dale Pearson
A: Our FSBO customers sell twice as fast as agent-listed properties, over 90% success vs agents 60% success. Many of our customers the pat 6 months were listed with agents without success. They've dumped the agent, lowered their commission inflated price and sold FSBO. An agent might say just about anything. Our customers data is 100% private, nodoby sees it including agents. Our next FSBO magazine comes out next week, bring a photo to our FSBO store before noon tomorrow and get selling now! Thank you!Submitted by Anonymous from Overland Park
Q: My question is concerning a home that I own (investment property) with someone else. We are looking to refi the home but she will have the loan solely in her name and we both will be on the title. With it that way, would I still be entitled to half of the proceeds in the event of a sale? Today, the home is in both our names but would change with the refi. I want to make sure I'm not screwing myself by taking my name off the bank loan. Thoughts?
Answered 04/11/08 14:30:59 by Dale Pearson
A: Talk with the title company, before closing, that is closing the transaction on the refi for your answers.Submitted by R. W. Harris from Gladstone, MO
Q: I and my girlfriend would like to go joint ownership in a house. Is it possible to do this with a mortgage company? Plus who do we need to talk to? Plus is it possible to buy a house with little or nothing down?
Answered 03/25/08 11:59:29 by Dale Pearson
A: Yes, it is possible. Talk with Brooke, at Owners Land Title, to explain and demystify the process for you, 913-381-3600. Yes, many lenders still offer low and no down payment, and government loans are as low as 3% down, which can even be gifted! Depending ob your credit standing, we have several lenders that would be happy to assist you. Call us at 913-498-3726. Thanks for the question.Submitted by Anonymous from lockport ny
Q: if there are two joint owners who own 10 acres of property and one is not named or signs purchase offer contract,is contract void?
Answered 03/10/08 12:45:23 by Dale Pearson
A: Generally, yes, it may onot be a legal binding contract. I do not know NY laws. I'd suggest you talk with a local real estate attorney or title company in NY. Good luck.Submitted by a real Real Estate p from No location specified
Q: you are an absolute moron....get a job!
Answered 03/08/08 12:25:41 by Dale Pearson
A: Thank you for your comments and being one of our thousands of visitors to our FSBO forum here at Kansascity.com. It appears that you are the exact reason our FSBO customers are so successful, and so put off by the real estate community.Submitted by Marie from Newport News, Virginia
Q: Can a seller who has entered into a contract with a realtor to sell their house get out of the contract
Answered 02/21/08 22:40:10 by Dale Pearson
A: Normally yes. Depends on the terms of the signed contract, but they can not force you to sell your house. In most states you are allowed to take the house off the market. Again, depending on the terms of the signed contract, you may or may not be liable for marketing or administration fees to the listing broker. Read the contract and see what it says, visit a local real estate attorney to see what your options are, or simply call the broker (not the agent) and ask politely to be released. A good, solid reputible broker will release you, bad brokers may not. But remember, they can not force you to sell and you can take it off the market. Good luck.Submitted by redd from goldsboro, nc
Q: I am looking for a mobile home to buy. I was very uninformed of the process. Anyway, the dealer says i was approved for a loan and asked how much i could afford for a down payment. I gave them a $3500.00 cahier's check.They later 'found out' i was approved for a fha loan(requiring only 3% down) instead of a conventional one(which i signed). i never signed any papers through their mortgage company for the fha loan. i asked for a refund and they tried to talk me out of it. i realized that a 10.25% interest rate was outrageous! The business itself and their mortgage company also have unsatisfactory ratings with the BBB. i would have ended up paying 93,000 over 20 years for a 41,000 SINGLE-WIDE.They say that it will be hard for me to get another loan thru FHA since i am backing out of the deal? Is this true? i see no deal since i never saw or signed papers for the fha loan.Thank God I got my money back!!! What should i do now????
Answered 02/12/08 13:10:14 by Dale Pearson
A: Talk with a local real estate attorney to find out your options. Or even a reputable local lending institution that knows the working of FHA loans, for advise.Submitted by Anonymous from Springfield, IL
Q: Follow up to one answered 2/5/08: The disclosure stated the one time their was water after a tornado and that is it. Illinois puts a statute of limitations of 1 year on disclosure forms, being how it is 1.5 years later, is their anyway around this? thanks
Answered 02/12/08 13:08:51 by Dale Pearson
A: Hmmm, talk with a local real estate attorney, good luck.Submitted by Anonymous from Springfield, Illinois
Q: I bought a house with a basement FSBO whom also built the house. I purchased in July when there were no water issues. The first winter my sump ran continuously. I thought maybe it was because homes around me weren't finished, landscaping, etc. The next summer it was fine again, but now with heavy snowfall and rains my pump is again running non-stop, also a 20' wide flowing run-off from a field behind me goes right through my back yard. If this ever happens where the pump can't keep up, my basement will flood. He dislosed once during a tornado he had a little water in the basement but through the other 4 years of owning the house no problems. After 1.5 years now and talking to neighbors and people who looked at the house when it was for sale, I believe the seller knew water was an issue, that he dug the basement too deep into the water table and he was beyond being able to do anything else to solve this problem. Do I have any ground to stand on to sue him?
Answered 02/05/08 21:47:29 by Dale Pearson
A: Hmmm, depends on what the seller's disclosure states in regards to this and if you can prove he intentionally did not disclose. Sounds like the pump is doing what it is designed to do. All this can cost a lot in legal fees. Talk to an attorney and see.Submitted by Norman from Leavenworth, KS
Q: We've recently moved to the area (July 2007) and have been taking our time looking to purchase a home. We've noticed that many homes from North Kansas City area have declined from the listed price and remain for sale and some have sold; should we wait longer as a realtor at open house told us last week that they expect foreclosures to continue upward for 3 to 4 more years? Our company could require us to relocate after 3 years and we don't want to be upside down in a home and we aren't happy as renters? Thanks (We've seen developements we were ready to make an offer on, later list $20 to $25 thousand than the asking price in July 07; which is our reason for concern)
Answered 01/30/08 16:56:45 by Dale Pearson
A: Good question, but I don't have a crystal ball! I couldn't begin to guess as to what will happen with the current market. Agents regularly "guess" and are motivated by commissions, regardless of market conditions. If you know you'll be in the area 3 to 5 years, go ahead and buy. Don't try to anticipate the bottom - you'll probably miss it! Don't count on 3% to 5% appreciation per year either, those days are long gone. But if you buy now, you get tax benefits, better prices than previous years, huge selection to choose from and you as a buyer are in control. Interest rates are still very good. Then, in 3 to 5 years, even if you sell it for what you paid for it, you're still ahead oif renting, when considering the tax benefits, quality of life and what wasted rents would have been - still a great investment. Shop FSBO properties first as all agent listed homes have BOTh commission added and wiggle room. Much more value dealing with a private seller than an agent listed property. Good luck!Submitted by Anonymous from Kansas City, MO
Q: Hello, I was thinking about buying sometime in the near future but I had a question first. I have looked in the Sunday paper and online to find this information but I was unsuccessful. I was hoping you would be able to tell me or lead me to an article that lists the top 5 selling neighborhoods/areas in the Kansas City area. Do you have any numbers like that? Thank you for your help!
Answered 01/15/08 17:36:18 by Dale Pearson
A: I wish I did. Good question. However, fact is, all areas sell about equal - the difference is price and exposure. Certain zip codes may sell more homes, but they may have more homes for sale too. Some neighborhoods may sell more homes, but it may have many homes in the neighborhood. So if one sells 10 homes but there are 300 homes in area and another sells 5 homes with only 100 homes, the area with 5 actually sells more...based on density. Hope this helps, somehow. Good luck, see www.fsbo-kc.com for KC's best home values (no commission added to price).Submitted by rjb from Kansas City, MO
Q: We own a duplex that was bought years ago from a gentleman that is now decessed. We found out there is a lien on the duplex from back child support. We were not told of this lien and actually the lien was not there when we started buying the home it was placed 2 years after. How can we get the lien off there?
Answered 01/10/08 18:46:32 by Dale Pearson
A: Depends on many other factors. I'd suggest you call Deborah Crego, real estate attorney with plenty of title experience at 816-792-0110. Explain your situation and see what she suggests. Good luck.Submitted by scudtyer from Kansas City KS. & MO.
Q: Can you recommend a few choices in real estate lawyers in the KC metro that could help in 1031 exchanges Thanks
Answered 01/07/08 13:14:24 by Dale Pearson
A: Sure: Dan Langin Cell: 913-269-3966 Bill Quitmeier Ph: 816-891-6300 ext 3 Deborah J. Crego Ph: 816-792-0110 And I'd also suggest you use Owners Land Title for the closing, as they know that business, and have a special 1031 exchange department. See more of them at www.ownerslandtitle.comSubmitted by Anonymous from lincoln city, oregon
Q: We were sued in small claims court for failing to disclose that the crawl space flooded annually. We only were aware one winter that there was a problem. At that time the downspouts were not attached, so the water was landing up against the foundation, we figured that was the reason for the water in the crawl space. The plaintifs won, the money to be used to put in new drainage system and sump pump. After we sold the house the next two winters were extremely wet, more rainfall then when we lived in the home. The home was inspected by a very through home inspector, the house was vacant, he recommended a new vapor barrier and stone in the crawl space. We did not carry that out because we never had a yearly problem that we were aware of. Plus we never had any mold or mildew problems that we were aware of. My question is: Since the plaintiffs have won, and received their judgement of 5K, can they sue us again for anything else related to this issue?
Answered 12/22/07 13:02:18 by Dale Pearson
A: Depends on the terms of the settlement, court and plaintiffs. Generally, you should be all done with this issue, but if you are not sure, talk with a local attorney.Submitted by Anonymous from No location specified
Q: I had to back out from buying a house in San Diego, CA, since we have a lot of problems with our broker. Now the house is off the market. If I am going to buy that house by "sell by owners" after the agreement of the seller and his agent are expired, can my agent sue me when she cannot get her commission? I do not have any agreement with her except she has a copy of the previous offer with my and the owner's signatures. Thanks.
Answered 12/07/07 15:47:47 by Dale Pearson
A: Depends on the terms of any paperwork you may have signed. Smart idea to wait til any of the seller's obligations are satisfied and go back and buy without the expensive commission added to the price. You and the seller shoudl sit down with a local attorney to see what your options are! Good luck!