Real Estate: Underwriter wants my ex-husband's bank statements to prove child support income isn't laundered money? |
- Underwriter wants my ex-husband's bank statements to prove child support income isn't laundered money?
- Air BnB Forclosures
- Closed on house today, but register of deeds hacked by ransom ware... no keys
- Expert: Coronavirus starting to scare away homebuyers and sellers
- Have been preparing to list on April 1st, do I proceed or wait?
- Weird Question: Should I still make offers on homes during this virus pandemic?
- Prolonging lease extension due to COVID - advice?
- CNBC - Homebuilding stocks having their worst day since the subprime crisis
- Septic system and Sellers Missouri
- How long can I wait after completing my Pre License course to take my exam?
- Will homes continue to rise in value over the next couple years?
- Advice on buying a house with some un-permitted work that is not to code (pipe sizes)
- Update on foul odor found during home inspection!
- Locating Survey Pins Yourself?
- Is this company legit? Planet Home Lending, LLC
- What are some things you would NOT settle for when buying a home?
- Breaking lease due to safety concerns
- Connecticut - Does liability caused by the seller transfer to the buyer even if the effects are discovered post closing?
- Advice on purchasing home
- I feel like getting greedy
- Coronavirus push to work remote will destroy the premiums on city real estate
- Rental Housing prices (Student working part time)
- How do you test well water if house has been unoccupied for a long time.
- Can the agent say ?
| Posted: 12 Mar 2020 07:09 AM PDT There's not a chance in Hell he's going to turn those over to me, and he's not legally obligated to. There has to be another way, otherwise I'll never be able to purchase a home if that's going to be a requirement. Any advice? I've never heard of this being required before and nobody I know has either. [link] [comments] |
| Posted: 11 Mar 2020 03:44 PM PDT I have a couple of associates here in Florida who have built up a little mini empire of Air Bnb properties. They are highly leveraged in such endeavors and their Cash flow has just gone from positive to close to nil. We are talking dozens of houses and condos. I would estimate they each have less than three months before they have to start dumping properties to raise capital to pay the remaining mortgages. They are just the tip of the iceberg. I would expect to see a flood of new properties in areas where people are using Air Bnb to subsidises their current home or as a business like these folks are. None of them have prepared for the possibilit of six months of no rental income at all, [link] [comments] |
| Closed on house today, but register of deeds hacked by ransom ware... no keys Posted: 11 Mar 2020 03:55 PM PDT So my wife and I, first time home buyers, find out last night at the end of our final walk through, we may not get keys upon closing today. Sure enough, the register of deeds is still down, hacked by Russian ransom ware, no keys after closing. Called the register of deeds, they say it will be offline for the foreseeable future. Hacked on Friday night, today is Wednesday. How fucked are we? [link] [comments] |
| Expert: Coronavirus starting to scare away homebuyers and sellers Posted: 12 Mar 2020 09:26 AM PDT |
| Have been preparing to list on April 1st, do I proceed or wait? Posted: 12 Mar 2020 10:51 AM PDT Located in Santa Cruz County, California. 2/1 1600 sq/ft. Have been planning to list April 1st. Packing, cleaning, finishing projects around the house, etc. The plan has been for my wife, kids and I to move in with my father and wait until fall or later to buy a new place. We bought our house in 2014 for 360k and have been planning to list at 599k. We have figured we would get enough from the sale for a down payment on a 3/2 with some money left over for a little remodeling. With the market tanking and the corona virus fears should we just sit tight for a while or go forward with our plan? It seems reasonable to expect that real estate prices will be trending down in the near future. Would selling now make sense because we may get more than we can get in six months? Even if it's less than what we expected? Thank you for your time and thoughts. [link] [comments] |
| Weird Question: Should I still make offers on homes during this virus pandemic? Posted: 12 Mar 2020 10:43 AM PDT Might be a stupid question. My wife and I do have recession resistant jobs. Do we keep making offers? [link] [comments] |
| Prolonging lease extension due to COVID - advice? Posted: 12 Mar 2020 10:34 AM PDT Hello r/realestate landlords/agents/experts... I'm due for a lease extension at the end of this month for another year in a single-family home in a metro area where I rent directly from the owner (this is their only rental home as they live out of the state). I guess my question is, do I (or should I) use any leverage I have due to the uncertainty of COVID-19 to either A. reduce my rent if I agree for 1 year extension to the lease or B. ask for a contingency in my contract for release of my tenancy if I (or my spouse) is laid off due to the potential for long-term economic downturn. I'm slightly in a panic due to this virus and having a decent rent payment over my head for the next several months and have the ability to move outside the metro area and work remotely if necessary. Am I SOL? Is it likely the landlord tells me to sod off and they'll just get another tenant? Background: I've been renting this home for 2 years since he moved and take care of the house for him, we have a good relationship and trust. but at the end of the day of course this is an investment . if I were to move out it would cause him some issues with vacancy and having to travel down here to find new tenants ( he hasn't visited since I started leasing). What does r/realestate think? Thanks! [link] [comments] |
| CNBC - Homebuilding stocks having their worst day since the subprime crisis Posted: 12 Mar 2020 10:14 AM PDT |
| Septic system and Sellers Missouri Posted: 12 Mar 2020 09:57 AM PDT I am a home buyer in Missouri, I am currently in the process of buying a house with a septic system that does not meet Missouri septic standards. It's a 600 gallon tank for a 4 bedroom house. Is it legal for a seller to sell a house with a septic system that is not up to code? If not does anyone know the specific law? I like this house and I don't want to lose it but I feel like I might have to back out since if they refuse to fix it it's about 10k to get it up to code. [link] [comments] |
| How long can I wait after completing my Pre License course to take my exam? Posted: 12 Mar 2020 09:15 AM PDT I may have an offer for a job soon and I really want to take it. It's $14 a hour and I can't pass that. But what I don't want to do is ask to take off so that I can take my exam right after hiring (if I get the job). So how long can I wait? I definitely will be reviewing the material frequently until I work long enough to take off. [link] [comments] |
| Will homes continue to rise in value over the next couple years? Posted: 12 Mar 2020 08:17 AM PDT Wife (F,51) and I (M, 46) have started looking for our first home. In our market, our approved amount gets us an okay size 1970's house with all original everything in a sketchy neighborhood, or a small fixer-upper in an ok area. Either way after seeing 12 houses, we have yet to come close to seeing anything we have any interest in. We aren't looking for something fancy, just livable. I had the thought that we should stop looking and save up for a year. However we are told homes are appreciating at 5% to 8% per year in this area, so we would essentially be shopping for the same houses next year, just paying more $$ for them. It is very important to us that we stop renting and start building our own equity in something. So at this point I feel our only option is to just buy something and get used to it, because it will be a few years before we can afford to do any remodeling. So I was just wondering if y'all might be able to give us any other options? [link] [comments] |
| Advice on buying a house with some un-permitted work that is not to code (pipe sizes) Posted: 12 Mar 2020 06:44 AM PDT Today is the last day of attorney review after inspections. We thought our list was pretty minor, but then learned about some un-permitted work. The advertised 4th bedroom and 3rd full bath is in the basement. After the inspector said the toilet pipes may not be to code, we learned they are not, and that sellers misrepresented having permits. Because the contract indicated discloser of permits, I called the county to verify. County says they got permits for some siding work, but not the basement work. A plumber approximates the cost to be 1500-1800 to bring pipes up to code. We've been looking for a house for AGES and this has been the closest fit. Not sure if we bring it up and how, knowing the sellers could just tell us to forget it (they have other interested buyers). I learned from another post that most insurance companies won't cover un-permitted work (makes sense). Toilet pipe sizes in this situation, given we are 2 adults only, don't seem like egregious problems to remedy but we we don't know what we don't know about that or the rest of the work (inspector found no issues with anything else like the electrical). I think our options are:
Need to decide what we'll do, seeking any kind of advice, experience, etc. TIA! [link] [comments] |
| Update on foul odor found during home inspection! Posted: 11 Mar 2020 05:24 PM PDT Original post here. We were concerned about a broken pipe under the concrete slab so we ended up scheduling a plumbing inspection to see if we could find the source. The pipes are in great condition considering their age (1950s), but they did find old leaves in the vent pipes that had rotted. They water-blasted them and they said that should make the smell go away. I had my doubts that such a foul smell could be caused by old leaves until the next weekend when I had some friends visiting and they wanted to go to Anyway, my buyers are relieved it's not something serious, and it was money well spent because the plumbers resolved the issue while they were digging around in there. [link] [comments] |
| Locating Survey Pins Yourself? Posted: 12 Mar 2020 06:22 AM PDT Hi, I recently purchased a home and am wanting to put a fence in. I have a plot plan as well as a boundary map with satellite image for my property. I also have the metes and bounds description from the original survey. That survey was done in the 1950s and I was wondering if it would be possible to locate the survey pins myself, or is it going to be very difficult to do so? Has anyone done this in the past and do you have any suggestions? Thanks in advance! [link] [comments] |
| Is this company legit? Planet Home Lending, LLC Posted: 12 Mar 2020 04:30 AM PDT We are going to accept an offer on our house tonight but our real estate agent seemed wary of who the financing was through Planet Home Lending, LLC. The buyer has an excellent credit score and is doing a conventional loan for what it worth. I googled around and they seem legit to me, several reviews and they are established in several states. [link] [comments] |
| What are some things you would NOT settle for when buying a home? Posted: 11 Mar 2020 12:05 PM PDT I'm a First time homebuyer. Some preferences are obviously going to be out of price range. I was looking at new cookie cutter houses and most of them did not have a bath in the master; just a shower. I started thinking how I couldn't settle for no bathtub in the master and was wondering what other things shouldn't be "looked over?" Yes, upgrades can be made in the long run but I'm not looking forward to them. [link] [comments] |
| Breaking lease due to safety concerns Posted: 11 Mar 2020 02:57 PM PDT Hi Reddit- i have a question for you experts and am hoping you can help. I live in an apartment complex in Chicago that has recently converted some of the vacant units into Airbnb units. With the Airbnb conversion there has been an influx of riff raff (parties for 40+ people, trash everywhere, vandalism along with occupying common areas) and legitimate safety concerns. I have complained about this to the management team however no action has been taken to remedy any of my concerns. Do i have grounds to break my lease without penalty? [link] [comments] |
| Posted: 11 Mar 2020 09:50 PM PDT My partner and I are considering buying an investment property in Connecticut. An engineer inspected the property and determined there may or may not be carbon monoxide and mold in the basement. (He couldn't confirm). While I plan to bring in experts to conduct a mold and carbon monoxide test (and fix any issues), my partner is concerned that if the current tenants ultimately determine they were "poisoned " by neglect from the seller during their ownership, we the new owners can help held liable. If remedied , is this a possibility? [link] [comments] |
| Posted: 12 Mar 2020 01:33 AM PDT Looking for advice with an abnormal situation. I am leasing a house in a SW US state semi rural area with 6 months left. The owner put the house up for sale in late January. I wouldn't mind purchasing the house for a good price to live in for a few years then use as an investment but living here I have found many issues that I care about buying but not renting. I have been told by a random real estate agent that the house is listed at least $15k too high for the issues it has and the house has leased solar that cost more than it saves in electricity. Living in the house, I know that my lease transfers to the buyer which limits the market and the solar lease should scare off any investor because the house doesn't rent for more money than a non solar house. I have a real estate agent and made two offers, both rejected with the seller unwilling to pay off the solar lease. The house has had one showing in ~45 days which was a real estate agent viewing for a buyer that couldn't make it and one offer that may or may not have been from the same showing. The offer was accepted but after an inspection the house was put back on the market. I am walking over the solar lease but part of me wants to get the house at a great price considering the limited market that would consider buying the house. I instructed my real estate agent to decline the counter offer of me taking over the solar lease and paying full list. My plan is to have my agent check in monthly to see if the seller changes their mind. Are there any better strategies than waiting with a subtle reminder monthly of my offer? There is $20-25k of neglected items to fix in the house that I can do myself and $20k lost to the solar lease. I get the feeling the seller is wanting top dollar and I know taking a hit for the solar lease is tough to swallow but I also know the house is listed for nearly double vs what the seller purchased it for so there might be some hope in getting the price down. [link] [comments] |
| Posted: 12 Mar 2020 05:04 AM PDT I am leaning towards asking the seller to seal the deal by buying me a new washer and dryer, a really nice one. The inspection is today and the appraisal is soon and the inventory is down and he already lowered the price, it's been on the market for a year. I offered asking with %20 down. I have guaranteed income. I'm seeing this crash in the stock market and thinking twice. It's a good house in a great neighborhood. What to do? [link] [comments] |
| Coronavirus push to work remote will destroy the premiums on city real estate Posted: 12 Mar 2020 04:48 AM PDT Anybody want to pay a million dollars for a place in San Francisco when they can get the same house for 75% cheaper anywhere else in the country. The coronavirus is pushing so many companies to have employees work from home right now. Even if the virus blows over after a few months, there's no need for companies to switch back to the office life, when the work from your laptop works so well and creates less expenses for the business. RIP Seattle and San Fran housing markets [link] [comments] |
| Rental Housing prices (Student working part time) Posted: 11 Mar 2020 10:32 PM PDT Hi, I am currently looking at housing options for the next school year (August-July), this may be a pretty dumb question, anyhow, will rental rates decrease? I am looking at minimizing all housing costs to save as much as I can and was wondering if and how the current stock market, and future housing market will be affected in terms of rent and pricing. I've considered buying a property and living there as a way to reduce rent, but am frightened by the responsibility that comes with it. I live in a smaller city, but a huge college that has ample housing all around. I really have no clue if anything will change due to the current events taking place, but thought I would ask and hopefully receive some help from you guys here in r/RealEstate [link] [comments] |
| How do you test well water if house has been unoccupied for a long time. Posted: 11 Mar 2020 10:09 PM PDT If it has bacteria but has been unoccupied, there may be no issue. It has to be shocked. But then the shock could hide a problem that wont show up until after closing. [link] [comments] |
| Posted: 11 Mar 2020 09:28 PM PDT I know laws vary from state to state so maybe your answers won't apply to MT. She contacted a real estate agent and toured a nice home. The agent told my wife that ten other people were looking at the home that day. I have been told that this is illegal or at the least unethical. Is it ok to do so or just a pressure move ? [link] [comments] |
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