Real Estate: 3 days before closing newly built house flooded. I could use all the advice. |
- 3 days before closing newly built house flooded. I could use all the advice.
- Just put my 5th offer in. Please wish me luck!
- Is it legal?
- My real estate attorney stopped responding.
- Red flag if a house is sold twice in 6 years?
- Im in escrow as seller, buyer has home-sell contingency however the close date on their property is on the day of closing of our escrow. Can we cancel if they dont meet our deadline?
- [CA] Would like to start storage facility around LA.
- California Tenant Issues - Need Help with a Defiant and Abusive Tenant
- Buying condo with tenant advice
- Quick Appraisal Question
- Marin County, CA - No moratorium on ending leases, right?
- Seller Financing - Who holds the Title and/or Deed?
- Leasing a Home?
- In general, can you use multiple (two) cashier's checks at closing?
- Question about warranty
- should we switch realtor? [canada]
- Another week without new listings...
- Credit for something in seller's disclosure?
- Taking from 403B to pay off mortgage on first rental property that I used to live in.
- Is moving for shortened commute and more space worth it?
- How can Swedish interest rates be so low? Opinion- Subsidized to a degree by the govt.
- Buying small house with intention to add on
- Rental Property - Advice
| 3 days before closing newly built house flooded. I could use all the advice. Posted: 13 Jun 2020 04:06 AM PDT As the title says. Friday, 3 days before closing, the day of our final walk through a cleaner turned on the bath tub with the drain closed and then left the property. The builder and I discovered the flood 4 hours later. The entire master bath/closet most of the master bedroom and some of the living room had standing water of 1/4 inch at most. The water also went through/under the wall into the guest bedroom and guest bathroom a fair amount. We have tile throughout. The builder removed all of the water and the floors were dry at the 5 hour mark. They brought in fans and dehumidifiers in all affected rooms at about the 9 hour mark that are still running. [link] [comments] |
| Just put my 5th offer in. Please wish me luck! Posted: 13 Jun 2020 06:47 AM PDT I just put an offer in for $11K over asking, waiving inspection, no seller credits for closing and a flexible close with a personal letter. And I STILL have next to no hope I'll be getting this house. That is how brutal the market is right now in my area. Just need some good vibes I guess. [link] [comments] |
| Posted: 13 Jun 2020 04:24 AM PDT Morning all, I'll try to make it simple. Close friend is selling me his home which is dated and needs roughly 20-30k in remodeling. The home is worth 270-290 conservatively His sale price is 215. I asked for and was approved for a FHA 250k at 3.5% down. At the end of the sale the seller is going to then gift me the difference for my remodel. Is this all good ? [link] [comments] |
| My real estate attorney stopped responding. Posted: 13 Jun 2020 06:58 AM PDT I signed up to have an attorney assist me with the sale of my home. I do not have an agent. There were some flags initially regarding non responsiveness, and I just overlooked it as it seemed small at the time. I sent him questions five days ago and have recieved no response. I've also sent follow ups. The buyer had to submit some paperwork to me within five days of the offer acceptance. When I received this paperwork, I sent to the attorney for review and I've now missed the deadline. I paid the attorney up front for the work. At this point, in ready to chalk it up to a loss and find another solution. The contract I signed with him is pretty much in his favor regarding services. Anyone have advice of how to navigate this moving forward? He hasn't cashed the check so part of me wants to do a stop payment and tell him to pound sand. [link] [comments] |
| Red flag if a house is sold twice in 6 years? Posted: 13 Jun 2020 08:40 AM PDT Hi all, today we are checking out what looks to be a gorgeous house, but the last two owners at the 3 year mark sold it. Is that a bad sign or red flag? What are some things to look out for when you see something like this? The area is considered premier and nice. We drove by it and we only really noticed the siding needs a little work, but otherwise it's looks ok on the outside including foundation. [link] [comments] |
| Posted: 13 Jun 2020 06:28 AM PDT I am currently in escrow as a seller. Buyer submitted an offer with home-sell contingency which we accepted. We got word that the buyer will be closing escrow on their property on the day of close of our escrow. As a result, buyer has removed all their contingencies however our moving situation as become difficult. If the buyer doesn't close our escrow by the close date, can we cancel the deal? Are there any repercussion we need to be aware of afterwards? edit: due to our situation, extending escrow is not a possibility [link] [comments] |
| [CA] Would like to start storage facility around LA. Posted: 13 Jun 2020 04:18 AM PDT I only have 50k cash, and at best can probably get 20% down on a loan, which leaves me with 250k to purchase property + develop storage. Obviously, I'm not going to find anything worthwhile that I can afford in the city. Do you guys think it's worthwhile to start a facility on undeveloped, commercially zoned land outside LA? Obviously the closer the better, but would 15 miles outside the city border be a no-no? [link] [comments] |
| California Tenant Issues - Need Help with a Defiant and Abusive Tenant Posted: 12 Jun 2020 07:12 PM PDT I own a fourplex in Richmond, CA and its my only property. I lived there for a while in one of the units but eventually rented the whole thing out. I have to admit, the tenant that moved into my unit has driven me crazy and has gotten the best of me - I'm at the end of my rope. I can't even begin to explain how horribly she has treated me and berated me in emails, acting as if she's entitled to free rent for the rest of her life. Prior to COVID-19, she was up to date, though I basically had to negotiate with her to pay rent each month. She is three months behind now due to COVID and I can't blame anybody for that - its been hard on all of us. What I'm really writing about is this: just the other day, my property manager noticed that her window was broken. I went back on the security camera footage and found evidence that it was a woman that my tenant was fighting with that threw a shoe through her window back on May 21st ( which was 19 days before we noticed). Prior to me telling her about the footage, she implied that she didn't know what happened and that she didn't even notice the broken window until we brought it up. Then I showed her the footage which clearly indicates that the tenant was home at the time of the break, she was in a dispute with the woman who broke the window, and that she (the tenant) took pictures of the broken window immediately after it was broken and cleaned up the mess). She responds to this email berating me saying that she's not responsible and WASN"T EVEN HOME and then demands me to also add a motorized gate to the property - something she has demanded since she moved in almost two years ago. My property managers want me to file a police report but I'm having trouble getting the RPD to cooperate, they say its a civil matter. Should I fix the window and then take her to civil court with the solid evidence to demand the money that I spent on fixing the window? I know eviction of this tenant will be a long time away from now, and I'll be footing her bill for a long long time. I really appreciate any advice. [link] [comments] |
| Buying condo with tenant advice Posted: 13 Jun 2020 06:15 AM PDT So I found a nice condo that I want to buy but the seller already has a tenant that's on a lease till the end of July. How can I protect myself before buying if the person tries to stay if I don't wish to renew the lease. I have no reason to suggest that's the case but before buying and with all the COVID changes it could end up being difficult to get someone out. Just need some advice...Oh I'm in Connecticut [link] [comments] |
| Posted: 13 Jun 2020 09:43 AM PDT Just got my appraisal via email. If I'm reading it correctly, the report says my house would sell for $175k but has a comparable selling range of 175-200k. My question is: if my loan officer managing my refinance was banking on it selling for $195k, does the RANGE tell him this or does the other number (175) tell him that it's 20k lower than he thought? I ask because I'm a bit miffed (I thought it'd be 180-185 at least given the comps, but comp were 100-150 sqft larger) it came back lower and now I'm wondering if I'm gonna have to reshuffle stuff for this refinance as the loan officer has been trying to get my LTV where he needs it. Thanks! [link] [comments] |
| Marin County, CA - No moratorium on ending leases, right? Posted: 13 Jun 2020 09:37 AM PDT I'm in contract on a house in Marin county that is occupied by a month to month tenant. Marin has a moratorium on evictions, but that does not mean a landlord can't give notice to terminate a tenancy, right? I'm asking a lawyer, but... it's Saturday. Just wanted to get ahead of it. Thanks! [link] [comments] |
| Seller Financing - Who holds the Title and/or Deed? Posted: 13 Jun 2020 05:48 AM PDT I've been approached by my tenant to purchase the property they are currently leasing from me (AL). If I offer them seller financing (100%), will the deed and title move into their name and I become the bank by holding a mortgage on the property? Will they be responsible for taxes and insurance? Also, in the event they default and we foreclose, do I regain the property and title and deed move back into my name. I want to make sure I'm buttoned up legally and can repossess the house if things go south especially in the current state of the world. [link] [comments] |
| Posted: 13 Jun 2020 09:17 AM PDT Hi, I hope this is allowed here. LSS we live in Grandpas house, grandpa recently passed, we can't afford to buy our family out of the house since its split 3 ways. My husband, his father, and I are needing to move soon and we're running into a few major issues. One, my husband has zero credit history whatsoever. I have a low low low credit score. His dad doesn't want his name on a loan even though his credit is fine. We have about 10k for a down payment or rent upfront. I was wondering if anyone has ever used a lease to own program or rent with the right to purchase program. Im also open to suggestions. [link] [comments] |
| In general, can you use multiple (two) cashier's checks at closing? Posted: 13 Jun 2020 08:23 AM PDT As the title states, my fiancee and I don't have combined finances at this point and we are closing on our house next week. Is it typically allowed for each of us to bring our own separate portion of the cash due at closing? Or would we usually need to combine into 1 big cashier check with all of the money on it? It would be somewhat of a hassle for us to do so right now since we have different banks so i was wondering if it was worth the effort. Any responses or anybody with past experience with this would be helpful. Thanks! [link] [comments] |
| Posted: 13 Jun 2020 04:12 AM PDT I recently purchased a newly constructed home and have a 1 year warranty on the house. I had a fence installed and discovered that some of the irrigation heads were installed outside of my property line. I used the warranty to have this issue fixed, but I think I could have a future problem. When the irrigation people came out to fix, all they did was move the flexible part of the heads under the fence into my yard. So in reality, the piping and wiring are still in my neighbors yard and the head now comes up in mine. Should I bring this up with the builder to get the whole thing moved onto my property? My worry is if maintenance or my neighbor ever installs a pool it could become a nightmare. [link] [comments] |
| should we switch realtor? [canada] Posted: 13 Jun 2020 07:01 AM PDT hello. we're moving to a new town early august where the market is pretty aggressive for our price point. we got a realtor a couple weeks ago, and she's not really been sending us listings. i've found 2 properties since we enlisted her help that we've really liked, but by the time i've seen it on realtor.ca and contacted her about it, they've both had offers on them. she keeps emailing back that the market is super appressive, and properties in our price point have only been on the market for just a couple of daya before being scooped up. we are prepared to act fast, but it's hard to if we dont find out about properties until it's too late. should we switch realtor? i dont want to waste any more time if she doesnt seem to be helping us. [link] [comments] |
| Another week without new listings... Posted: 12 Jun 2020 05:27 PM PDT Second week in a row without new listings in the three towns I'm looking to buy. Three different states and regions of the US. Searching since January and was hoping to buy when the spring listings came on, then after things opened ...and now? Any insight on why it's getting worse by the week? [link] [comments] |
| Credit for something in seller's disclosure? Posted: 13 Jun 2020 05:17 AM PDT I am trying to find out if I can ask for a credit for an AC unit that "blows air but might need a freon charge." My husband and I are under contract for a house that was listed as having AC but after our offer was accepted and we got the contract we learned the AC unit doesn't actually cool. It's 25+ years old and rusting next to the house. We have our inspection on Monday and I'm sure it will be flagged. Can we ask for a credit to get a new unit or no, because it is listed in the disclosure? I'm trying to figure out if disclosing it gives them immunity or not, but I can't find anything clear in google. [link] [comments] |
| Taking from 403B to pay off mortgage on first rental property that I used to live in. Posted: 12 Jun 2020 09:21 PM PDT Hello everyone, long time lurker here and pretty new in the real estate realm. Debt: 300K mortgage on my current home (30-year mortgage). $2700/mo Investments and Assets 403B is $250k. Need Some Guidance From RE investment Minded Folks Here: So, my current rental property has a balance of $50k remaining. The mortgage is $1900/month, I get $1800 back after the property manager takes $100. The house market value is $202k and projected to be fully paid off by 2023. My current house that I live in has $300k remaining to pay off. Recently, due to COVID19, my job is allowing employees to borrow up to $100,000 from their 403B with no early withdrawal 10% penalty. (However, I would still get taxed from the money I make from the 403B). My question is what would be the best plan of action given the option of borrowing $50k from my 403B.
Thank you all for being my source of inspiration. [link] [comments] |
| Is moving for shortened commute and more space worth it? Posted: 13 Jun 2020 03:58 AM PDT We're in the Boston area and own a condo just inside city limits (~530k). Commute to work/daycare can be 45m one way in rush hour just to go a few miles - this is killing my soul. We also need more space due to toddlers, but a move to the suburbs for school etc can be pushed ~4 years out from now and I'd like to avoid as long as possible due to hating the commute. We've owned our current place for only 4 years. Is it super dumb to buy another place (~850k) that's both intermediately bigger and closer to our work/city center just for the next 4 years? We're struggling with the decision of selling our current place and/or selling the next place after only 4 years each. Also, it feels silly to rent something ourselves after owning for a while, but maybe this is an option? Thanks for any perspectives. [link] [comments] |
| How can Swedish interest rates be so low? Opinion- Subsidized to a degree by the govt. Posted: 13 Jun 2020 02:18 AM PDT |
| Buying small house with intention to add on Posted: 12 Jun 2020 05:01 PM PDT We are first time homebuyers looking at buying a house that is in a neighborhood we'd love to be in. The 1940's house is small at 1100 sq. ft. However, it would work for us as is for probably about 10 years. I do not see it working well past that, but our hope is to buy a place and stay forever if possible. There is a one care garage with a vaulted roof (storage area up top) attached to the side of the house. My dream would be to save up and plan to remodel this space into a modest master suite in 10 years. The housing market where we are moves super fast and is extremely competitive. Any thoughts on if it is a stupid decision to buy a house you know you'll grow out of unless you add on? I'm torn- part of me wonders if we should just rent another year and look at the market next spring... EDIT: Forgot to add that we do feel it is overpriced for what it is, but that being said...we've been warned that the house will still go for a lot over the asking price based on the current market. [link] [comments] |
| Posted: 12 Jun 2020 09:41 PM PDT Hi all, I am currently obsessed with the idea of investing in real estate at the moment. I am constantly looking at Zillow to see what the possibilities are. My goal is to buy my first home this year either straight away as a rental property with 20% down in a college town or go the FHA route and live in a house for a year with a friend who will help with some rent money, this would be all in the state of Texas. Just curious how others started and best strategies. I'm also in the process of getting my real estate license during the pandemic to have access to the MLS and save a little on closing costs, while also learning as much as possible about the industry. I know it's a lot but I just want to talk to individuals who have experience and see what's up! Thank you [link] [comments] |
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