Question: I signed a lease to an apartment complex for $650 a month and recently found that they then lowered the payment by $100. Are they supposed to reimburse me for the money lost?

Answer: You didn't lose any money.

You entered into a rental agreement at a particular price at a specific time in exchange for the use of the property for a given period. Another person, at another time, also leased and was able to get different terms. This could readily happen if market trends changed, the other tenant had better credit, the owner had a financial need to quickly rent the property, etc.

What would not be acceptable is a situation where you paid a higher rent because the owner engaged in a prohibited practice, such as illegal discrimination.

Question: I signed a listing to sell my business and dropped it off at the agent's office with my copy of my lease. We moved forward and right off we did not work well together. I had my husband meet with the agent as he has lots of experience working with brokers and he is very personable. In that meeting the agent said we could easily find another broker if we wanted since he had not spent any time or money on my project over a three-week period. In that time he also broke my confidence by announcing that my business was for sale to our local business group, and he sent me a bill for $344 for charges not previously mentioned after we asked to terminate the contract. I find I was not given a copy of the contract. Can I not ask for a copy of the contract I signed as well as the terms of his related listings and sales?

Answer: You're absolutely entitled to a copy of any paperwork you signed. As to other listing and sale agreements held by the broker, they're a private matter between the broker and his clients.

You have no right to see them.

Imagine that the situation were reversed. Would it be okay if the broker showed your listing agreement to other clients? Are you not entitled to some privacy?

Why would it be wrong to try to sell the property to members of a business group? Are they not among the most likely buyers? Is this not evidence of an action taken by the broker to further your interests?

You have asked the broker to end the listing agreement. That means the broker does not have the entire listing term to complete his work. Without the full opportunity to complete his job it seems fair that you should pay for the broker's cash costs to date. It may be that the broker has agreed to the termination -- which must be mutual -- but wants to be paid $344 for his out-of-pocket costs.

That seems fair and reasonable.

Question: I would like to help my parents sell a real nice piece of property that has been in the family for nearly 40 years.

It's on a lush gentle hillside. It's nearly two acres and has easy access to the expressway leading to a major metro area. It has one side of the entire street with a small creek on one boundary. It is a nicer, more secluded property than one nearby that sold for $5.2 million.

I tried e-mailing a couple of local real estate brokers and MLS systems looking for a representative and got no reply. All I've got is agents wanting to buy the property for themselves at prices below average market and well below what an estate property should go for.

Answer: Let's see what we have here.

The property was bought 40 years ago. How does that impact current market values? If you bought a home would you pay a premium for long-term ownership or would you be more concerned that the asking price represented a fair market value?

You contacted nearby brokers and MLS systems. MLS systems do not act as brokerages, they are essentially a convenience for broker members thus it's understandable that no MLS would respond to your email. As to brokers, if you have a multi-million dollar property it seems curious that no broker would want to list it since such a property could be a good business opportunity for a broker.

The fact that a nearby property sold for $5.2 million is good news -- but what exactly is your property worth? All homes are uniquely valuable. Does your property have the same zoning as the other property? Size? What about the condition of the home? Why not hire an appraiser to get a good sense of value?

As to brokers wanting to buy the property at a given price, you surely have the right to say no. Did you ask the brokers to list the property or to purchase it? Did any submit a competitive market analysis (CMA)?

When did that $5.2 million property sell? Has your market changed since that sale?

Surely there must be someone in the local community who you know and trust, who you believe to be financially astute. Perhaps ask such individuals to recommend local brokers to consider.

Question: My husband and I own a four-bedroom, 2,000 square foot home. The master bedroom is a good size with a walk-in closet, however the bathroom is a small half bath. It's not a master bedroom suite. We were thinking about expanding the master by using one of the existing bedrooms. This would make a wonderful master bedroom suite but by doing this it would make our home a three bedroom instead of a four bedroom.

We would like to sell in about eight years and do not want to de-value our home. What's more appealing, four bedrooms with a small master bath or three bedrooms with a large master suite? We also have 1,000 square feet of finished space in our basement that has another bedroom included as well.

Answer: This is a really good question in the sense that you do not want to over-improve a property. The answer, though, is only partially-related to your preferences.

To know if a home is over-improved you have to compare it to like houses nearby. In this case, is there a localized market for three-bedroom properties? Has anyone sold a house with improvements that are similar to those you are considering? To get these answers you need to speak with local brokers.

However, we don't know where preferences will stand in eight years or so. We know buying patterns to date, but they could change.

The other issue, though, has nothing to do with economics. You expect to live in the house for another eight years -- that's a long time. Would you enjoy the property more with the larger bathroom? Do you need a fourth bedroom? Would the cost of improvements make sense to you?

If the improvements are suitable for the local real estate market, if the costs are okay and if the upgrades appeal to you, then go for it -- if only for your own satisfaction.

Question: I would like to find out how I can go about finding a reputable real estate agent in another state without having to fly out to the state to shop for one.

Here's our situation: My aunt has a condo in the southeastern United States. We live in the northeast. Due to ill health she had to quickly move to be closer to us for her care. Now I'm faced with having to find a real estate agent for her who is reputable, motivated (as her condo is her only asset, and she needs the money to live on now) and able to work independently, so we would only have to fly out to pass papers. I'm unfamiliar with how this kind of a long distance relationship should work, what I need to be aware of, and what to watch out for.

Answer: Your aunt has moved, but there are people she knows and trusts back home. Speak with those people for recommendations.

Also, look at the local MLS and see who is actively selling condos in her community.

It's unlikely that you will need to fly anywhere to complete paperwork. In many cases today all paperwork can be done remotely and moved back and forth by overnight delivery. Experienced closing agents in the community where the condo is located can provide details.

Question: I'm a fairly new agent and was wondering what would be a good start for commercial. I would like to get into selling commercial along with residential. I have had good success with residential but I'm looking for more.

Answer: The best approach would be to associate with a broker who does both commercial and residential -- and to act as a licensed assistant for a top performing commercial agent on at least a part-time basis until you better understand the commercial market.

Question: I'm doing all the work on a house to flip. Can I pay myself the average wage a tradesman would charge me to help with the profit line?

Answer: I'll take a guess on this one: If you're not organized as a corporation or a partnership then you're self-employed. If you have a business flipping houses then your activities are reported on Schedule C.

The self-employed do not send themselves a W-2 form, thus you cannot hire yourself. For details, speak with a tax professional.

Question: I'm beginning to feel the anger that the anti-HOA folks feel. I'm beginning to understand their position about HOA's. There's always a song and dance about such things as:

• Term limits for Board members. We currently have the same people on the board that we had 10 years ago.

• Our board of directors will not levy any special assessments nor will they increase our dues. That's how they get re-elected every year; homeowners love that. So maintenance is deferred year after year after year.

• The board members rely on the management companies and believe anything they are told.

• An ombudsman is too costly they say. What is it costing us homeowners not to have one?

Does ANYBODY care about the homeowner who has no recourse?

Answer: You have recourse. You can vote out the current board, but that's not really the problem. The problem is that the board has more popular positions than you, otherwise they would have been replaced long ago.

Given your views, why not speak to neighbors and build up a coalition of unit owners so that you can have support for the next election?

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