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Real Estate Agents questions, answered by experts

Just as a kitchen remodel can increase home value, so can a new kitchen island. A kitchen island provides extra counter space, increased eye candy, and improved functionality that will likely impress prospective home buyers. You can expect an ROI of about 60% to 80% of the cost of your kitchen island installation, though this depends on the overall design of the fixture. 

Yes. If the seller includes a kick-out clause in the contract, they can accept another offer while contingent.

As long as the home inspection reveals no problems with the property’s structure, it shouldn’t be an issue buying an underpinned home. In fact, a properly underpinned property can be more stable than houses that have never had structural issues. However, you could face a higher insurance premium if the property has a history of structural problems. You should always request a structural engineer’s report before making a final decision.

Several government-backed lending programs can help first-time home buyers purchase a home with little money down. FHA, USDA, and VA loans are options for qualifying borrowers, though many conventional mortgage lenders will lower down payment rates to as low as 3 percent.

Pricing a fire-damaged house is tricky, and it’s best to involve some professionals. First, get a comprehensive repair estimate from a fire damage restoration expert. Next, have a real estate agent get you an as-repaired value for the home, which represents what the house would be worth if fully repaired. Subtract the repair estimate from the as-repaired value to get the as-is value.

The Mountainair, NM homeowners’ guide to real estate services

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