Real Estate: Taking a mortgage on just one spouse |
- Taking a mortgage on just one spouse
- My downstairs neighbor is Mr. Heckles, are they at liberty to file a complaint?
- Thinking of buying a condo in DC/NoVa
- Should I wait on rates for my refinance?
- Interest rate cuts
- Refinancing Questions or How I Learned To Quit Worrying and Love Coronavirus
- How to budget for house that needs moderate work?
- Realtors all requesting same showing time
- First time home buyer trying to purchase out of state home
- Looking for advice please
- Tax forfeited land?
- Is it the time to refinance my house?
- Collecting Rent From Inherited Tenants
- Qualified for FHA - Pay off auto loan to qualify for Conventional?
- Acquiring property from HUD
- Deposit before signing lease?
- Deposit before signing lease?
- Looking to upsize. Want to try FSBO. Any advice?
- How do I know?
- Home Inspection - What To Expect?
- If you had 100k cash, where would you buy (outside of US?
- How much do you anticipate rents falling due to Coronavirus and the recession it will bring with it?
- Help! Want to buy a house but the driveway and deck are located on the neighbors/future developers property... Need advice please!
- First house/duplex?
| Taking a mortgage on just one spouse Posted: 03 Mar 2020 03:48 AM PST I asked this question to a few folks already and was advised this could be a personal choice and that makes sense however wanted to put it out here as well, what is advisable in this scenario? Spouse is able to qualify for the house loan alone, both of us have 750+ credit. Is it advisable to take mortgage out on both names or taking it out on one person is fine? (We may want to save my credit for a second car, but thats not an immediate purchase) please advice. [link] [comments] |
| My downstairs neighbor is Mr. Heckles, are they at liberty to file a complaint? Posted: 02 Mar 2020 06:45 PM PST For the past few months, my downstairs neighbor has been banging on their ceiling to quiet us down. While I understand it can be difficult having noisy upstairs neighbors... from our perspective, we aren't making any noise at all. We don't have people over or play loud music, we have a lazy medium-sized senior dog that doesn't bark or run throughout the apartment, and we both work early so we are in bed by 10:00 most days. Our downstairs neighbor has banged on their ceiling while I closed a cabinet in the bathroom, when I walk to the kitchen and the floors creak, when the dog scratches and thumps on the ground, and has even banged on their ceiling when the apartment is completely silent (last time it happened, my boyfriend and I were sitting on the couch reading). Today, we received a note on our door from the neighbor complaining about our dog's noise level and the thumping she hears at 2:00am. Our vet told us to give the dog Benadryl for her itchiness, but other than her occasional late-night scratching, she's very well behaved. She doesn't bark or get rowdy when we get home in the evening, and shes never had any issue with separation anxiety during the day when we're away. But our neighbor has now threatened to file a noise complaint. So my question is, what can she action can she take when we already have a very reasonable noise level? And what action should I take to prove that in the event that she does file a complaint with the apartment complex? The problem is most likely that these apartments aren't very well insulated so a creak on the floor to us sounds like cacophony to him/her. But I'm not willing to surrender my dog when her worst quality is that she scratches for a few seconds at night a couple times a week. [link] [comments] |
| Thinking of buying a condo in DC/NoVa Posted: 03 Mar 2020 05:28 AM PST Typical "think for me" post, but I wanted to see if anyone had a second opinion on my situation. I'm 28, make $81000, have about $25k for a down payment and am constantly adding to that, and plan on being in the area for at least five years or more. I initially budgeted for rent at about $1600 to $1700 per month but figured that I'm going to be here a long while, so why not buy a condo in a metro accessible area and then rent it out later? For those of you living in similar metropolitan areas, did you do this? How did it work out and apart from HOA checks what should I take into account as a prospective homeowner? [link] [comments] |
| Should I wait on rates for my refinance? Posted: 03 Mar 2020 07:37 AM PST I am less than a week away from signing the papers to refinance my house to a 15-year fixed. With the rate cut by the Fed (and more to come possibly?) should I wait a few weeks and ask the lender to lower my rate? [link] [comments] |
| Posted: 03 Mar 2020 08:29 AM PST The Feds just cut interest rates. When should we see a change in mortgage rates? [link] [comments] |
| Refinancing Questions or How I Learned To Quit Worrying and Love Coronavirus Posted: 03 Mar 2020 08:14 AM PST Hope the title gets some attention! We have family on both sides pressuring us to wait for rates to fall and I am finding conflicting advice online. We bought our home last year for 154K and it appraised at 165K. 30 year 4.75%. Bit of an "oof!" but we wanted to buy a historic home in a competitive neighborhood. We're locked in to refinance at 3.375% after a bit of negotiation although we were also offered a 15 year at 2.875. No appraisal required. No points. Last night we finally put the debate to rest by deciding on the 30 year -- we're a bit conservative when it comes to money and we can always pay it down sooner. Now, everybody got breaking news alerts about the rate cut. We said we'd have paperwork in tonight... do we slow walk this to see what happens? IMHO we already have a good deal. Probably better than we could have imagined even a month ago and that a really great deal doesn't have to be the enemy of "the best" deal. But rather: we're making informed decisions, and we're happy. Thanks to any who can offer some advice. [link] [comments] |
| How to budget for house that needs moderate work? Posted: 03 Mar 2020 07:44 AM PST My wife and I are first time home buyers, looking in Washington, DC. We've looked around a lot since January, made and lost 3 offers so far, so we're still green but getting a more realistic idea of things. We're looking for a full rowhouse, not subdivided into condos. As we've looked, I've become more into the idea of finding something like a half-fixer-upper. Someplace that is thoroughly livable, but needs a new kitchen at least, and probably a bathroom or 2. Anything that's a real fixer-upper, or a gut job, is already gone before we see it, and we couldn't afford that anyway. There do seem to be houses, though, that need a moderate amount of work. Our price range is up to a little under $1m, and if we found something up to the mid $800ks, we would have about $100k to work with (edit: *for pre-move-in renovations) if we pulled back our down payment to 10%. My wife is worried about the thought that we get an estimate, and it goes double or more over and ruins us, or we buy something and the estimate is something we can't at all afford or doesn't make sense for the final cost. In addition, our realtor is cagey when I ask things like "given this ballpark, do you think it's possible?" which I actually take as a good sign with her. But it leaves me alone in our little trio when I think about this being reasonable or not. Basically - is this something we should even consider? How can I ballpark the price before making an offer and getting a few contractors in for proper estimates? Should we just give in and buy a flip? Maybe get couples' counseling? I guess I have what feels like a totally reasonable idea, but I don't know how to find out whether it's actually insane or not. [link] [comments] |
| Realtors all requesting same showing time Posted: 03 Mar 2020 09:37 AM PST So I just listed yesterday. All 6 realtors are requesting a showing time of 12:00pm Wednesday. Is this normal? Ive sold 3 houses in 10 years and never experienced this. [link] [comments] |
| First time home buyer trying to purchase out of state home Posted: 03 Mar 2020 09:27 AM PST Hi guys, my husband and I are relocating out of state and trying to purchase our first home. We found the right house for us in a nice neighborhood. It has been on the market for 5 months and the seller refuses to budge on the price despite having no other offers. The price of the house is fair, I don't believe the sellers are asking more than the house is worth, but because the house has been sitting on the market so long, we were trying to negotiate 2-3,000 under asking price for concessions. Every time the sellers have come back with their offer, they have either gone up on price to cover concessions or haven't budged. market in this area is significantly smaller that where we live now and I don't have a lot of experience with this because this is our first time buying a house. Do you have any professional advice? Thanks so much. [link] [comments] |
| Posted: 03 Mar 2020 08:39 AM PST |
| Posted: 02 Mar 2020 07:04 PM PST Today a colleague mentioned how he finds really good deals by looking at tax forfeited properties. He invests in Mississippi. I'm trying to find information about this in PR (where I'm from and want to invest) but I cant find anything. Any ideas of where I can find this info? Is this available in all States? Thanks! [link] [comments] |
| Is it the time to refinance my house? Posted: 03 Mar 2020 08:30 AM PST The current principal of the mortgage for my house is 280k, interest rate is 3.250% for 10 years. On Monday I received an email from my loan officer asking me consider refinance. Today I read the news that the Fed lower the rate by half the percent. Is it the time to refinance? How many of the homeowners and investors here are doing refinance now? Thank you. [link] [comments] |
| Collecting Rent From Inherited Tenants Posted: 02 Mar 2020 11:04 AM PST I'm closing on a four unit property on March 31st. All four units are currently occupied. What's the best way to collect the rent for April without any hiccups?I want to ensure a smooth transition between owners but closing on the last day of the month seems a little tricky. Does anyone have any suggestions or advice? [link] [comments] |
| Qualified for FHA - Pay off auto loan to qualify for Conventional? Posted: 03 Mar 2020 07:14 AM PST My DTI is 53% right now but I can get it it down to 42% if I pay off my auto loan. There is 20k left on the auto loan but I have the cash for it + down payment. I've been pre-approved for 2.75 FHA loan which is transferrable at a historic low rate but I think it'll be less attractive in a competitive market to sellers because of the higher bar on inspections. The home is not a fixer-upper though. Should I pay off the auto loan to go for conventional? My credit is 760 right now. FHA qualification was due to not qualifying for the conventional because of my DTI. [link] [comments] |
| Posted: 02 Mar 2020 05:04 PM PST Hey guys! I saw a listing for a property that was foreclosed by HUD. The property is in a REALLY attractive area and is listed at 250k as is. The price seems great considering that properties in that area are usually listed at 300k+. I will be visiting the property on Wednesday and, if everything goes as planned, I hope to make an offer that same day. What should my strategy be? Should I offer less, the same or a little more than the asking price? I do not have a real estate agent and do not plan on getting one, as they are not reputable in my city. [link] [comments] |
| Posted: 03 Mar 2020 06:14 AM PST Hi! So I am moving forward with an apartment rental in a relatively competitive area. I sent in my applications and the landlord accepted us. However he said he would like a security deposit while his attorney prepares the lease. Is this common practice? I stated that I wasn't comfortable sending money before signing a contract, and he agreed to a smaller deposit, but something just seems off about this? Thanks! [link] [comments] |
| Posted: 03 Mar 2020 05:59 AM PST Hi! So I am moving forward with an apartment rental in a relatively competitive area. I sent in my applications and the landlord accepted us. However he said he would like a security deposit while his attorney prepares the lease. Is this common practice? I stated that I wasn't comfortable sending money before signing a contract, and he agreed to a smaller deposit, but something just seems off about this? Thanks! [link] [comments] |
| Looking to upsize. Want to try FSBO. Any advice? Posted: 03 Mar 2020 05:53 AM PST Have a nice house in a desirable area, don't think it'll be hard to sell. Looking to use a realtor for buying our new one, but don't think it's needed to sell. Houses in my area go fast. I have a lawyer through my union. From my research on selling: List on MLS Don't have to disclose FSBO Don't be intimidated by buyer agent antics to fear you into reducing your valuation. Try to stage as nice as possible/good pictures. Any other advice would be greatly appreciated, thanks! [link] [comments] |
| Posted: 03 Mar 2020 05:42 AM PST |
| Home Inspection - What To Expect? Posted: 02 Mar 2020 06:02 PM PST First time seller here. We built our home in 2017 and have outgrown it. Was curious as to what I could expect to see on an inspection report. Is there anything I need to make sure is ok before my buyers inspection? Any tips are greatly appreciated. [link] [comments] |
| If you had 100k cash, where would you buy (outside of US? Posted: 03 Mar 2020 04:28 AM PST I've been debating on selling one of my rentals here in the US and want to buy something outside of the country. Specifically, somewhere warm and cheap to live. Any suggestions on where would be a good place to buy an apartment for 100k usd? [link] [comments] |
| How much do you anticipate rents falling due to Coronavirus and the recession it will bring with it? Posted: 03 Mar 2020 08:32 AM PST |
| Posted: 02 Mar 2020 04:40 PM PST So, I've been looking to purchase my first home. I'm a single first-time home buyer that works in social services. Needless to say, my budget is a bit tight. I'm looking at a max of 150K. I live back with my parents in the suburbs right now and looking to purchase a home in Detroit. Ideally, I'd like something historic or with character (cookie cutter is not at all my style). I've found a property that I like - it's a "mild" flip (i.e., they've updated plumbing, electrical, roof), and retained some of the historic charm. The location is stellar - 10 minutes out of downtown, on a small street with no other homes. Essentially a meadowy area/oasis nearby all the attractions of downtown. It was listed at $155K on 1/15/20 and they've reduced the price a couple times, now it's $125K and I feel this is my moment. As I was getting ready to put an offer down, the seller's agent discloses that the deck and driveway of the property fall onto the neighbors property. Uhh.. what! So apparently, the lot to the left of the home is "unbuildable" - which is fine. And the 2 lots to the right of the home are owned by an investment company. This is part of the email from my agent in regards to her conversation with the seller's agent: "The agent said there has not been, nor will be an issue with using the deck/driveway parking, however they could potentially build down the road. If a developer decided to buy out all of the lots on the street, they would essentially come to you and offer to purchase your property for development. They would offer fair market value in that case. The agent said this is the 5-7 year plan for this street. " For those who are not familiar, property values in Detroit have been dramatically increasing, especially surrounding downtown. I plan to stay at my job for another 4.5 years to be vested into the great retirement plan. So, I plan to stay in this home for the same amount of time and am treating whatever home I buy a bit as an investment. It seems like these investors are waiting for the opportune moment to sell/develop the property. My question is: Is the property line/potential development a big deal? If I was offered market value for the home in 2-3 years, I'd probably have little issue taking that and moving on. However, working at various government levels, I also realize that ideas are very slow moving and this issue may never come up? In other words, should I be concerned that someone will come knocking on my door and force me into an offer? Will the developers use some type of big bad lawyer to potentially scam me out of the home (nit-picking to drive down the value)? Do I *HAVE* to sell the home? Or, given the market in Detroit and my income, does this investment seems like a no brainer? Does anyone think I'm missing something? I don't have any experience in investments, developing or that whole mindset. I'd appreciate perspectives. Thank you & sorry if I left any critical information out. [link] [comments] |
| Posted: 02 Mar 2020 01:06 PM PST Not sure if this is the right place to post but giving it a shot anyway. I'm 25 with a annual income of around 28-30k a year. I'm working on paying down my credit cards which should be paid off completely within the next 18 months, and have 7k in student loans which I'm also working on. Also my credit score is a 700 currently. I do have some money in savings that I could use for a down payment. My Landlord and I have talked about me possibly buying the house I live in and wants 100k for it. This is a duplex where I live in the top half and the bottom is rented out for $625 a month. Only thing is the utilities aren't split. My landlord has floated around the idea of owner financing or rent to own, has said she wants out of the rental business. When I compare this place to the others in the neighborhood it's by far the nicest with central air and was completely remodeled in the 80s whereas the others in the neighborhood have no such amenities. They have been selling for 70-90k. [link] [comments] |
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