Real Estate: House listed for 520k, told buyer agent max was 550k made the offer at 550k and got the house. Was that the right move? |
- House listed for 520k, told buyer agent max was 550k made the offer at 550k and got the house. Was that the right move?
- Received offer in 24 hours. Do I take it?
- A question about Closing checks
- Townhouse listed for 699 - went as 755k
- [CA] How much do empty city lots usually go for in the cities?
- Neighbor Landlord Puts My Building Number On His Building So I Get His Tickets...Please Help
- Feeling pressured by family to buy a house, but I feel like it's a bad time due to low inventory. Am I better waiting?
- [IN/MI] Trying to pay off our land contract home with equity off a home sale
- [Southern VA] First Time Homebuyer - Found a home but COVID-19 has made things complicated. Advice needed!
- Pre-approval soft or hard pull?
- Looking for guidance, advice, insight, etc...
- NYC condo owner equipment questions
- [MD] First Time Home Buyer - Closing Process Questions
- Looking at a 1905 house, what to look for?
- Any real estate appraisers out there?
- The importance of a Dishwasher
- House vs Condo vs Renting
- Tough Co-op Closing or That's Just How It Is
- First time home buyer. I have questions and need guidance.
- What style of house is this? (CT)
- Pros and cons of a huge backyard
- Have contingency contract to sell
- Market devastated by hurricane. 203k Rehab or Manufactured on permanent foundation as real property?
- 70% of Savings for Mortgage Down Payment Vs. PMI Vs. Moving out of state
| Posted: 21 Jun 2020 04:47 AM PDT This person seemed trustworthy and don't think any shady-ness is going on. She told me that someone actually bid higher but I had less contingencies. Looking to hear about other people's experiences. Did I make the right move? What can I learn from this? House is in MA [link] [comments] |
| Received offer in 24 hours. Do I take it? Posted: 20 Jun 2020 10:47 PM PDT I listed my house yesterday and immediately 3 people scheduled showings for today. I received an offer tonight for 5 thousand over asking price, with 5 thousand in concessions. I'm torn on whether I should accept the offer or wait to allow more people the opportunity to see it. I don't want to be too greedy here but immediately I'm worried I priced it too low. Edit: we countered with some general contract changes effectively accepting their offer. Thanks for all the advice! [link] [comments] |
| A question about Closing checks Posted: 21 Jun 2020 10:09 AM PDT My wife and I are closing on a house in a few weeks and we need certified checks. We have 2 separate bank accounts. Her branch is local, mine is about an hpur away. When it comes to closing, is it a problem if i just write her a check for my part, put it in her account so we can bring ONE check to closing? [link] [comments] |
| Townhouse listed for 699 - went as 755k Posted: 21 Jun 2020 09:49 AM PDT Saw ready move in house in Canada (GTA) in quiet neighborhoods listed for 699k. Seller had 10 different buyers as I was told and highest it got was 753k. I put my highest as 740k. Townhouse - 3bed 3 washroom and move in ready. 1-4 years old. Did they over pay? Mind you this is semi-detached too. [link] [comments] |
| [CA] How much do empty city lots usually go for in the cities? Posted: 21 Jun 2020 09:46 AM PDT Empty lots have the advantages of already being primed for residential uses. Most already are equiped with utility capabilities and generally already have electricity and sewage installed. Due to their small size, you wont be paying that much comparatively considering there usually 1/4 of an acre (im sure everyone has seen those fenced off empty grass spots next to houses) Apparently tho googling for city lots seems to be difficult since sites dont like to differentiate between lands and lots and groups them up to the sane category even tho Im not looking for are land. My budget for those small vacant lots in residential neighborhoods would ideally be less than $30,000. I plan to buy a super tiny manufactured home to place there. I dont care about its value going down over time or the small space. At this point in my life i just want to take things slower and settle down somewhere for less than $100,000 [link] [comments] |
| Neighbor Landlord Puts My Building Number On His Building So I Get His Tickets...Please Help Posted: 21 Jun 2020 09:44 AM PDT How do I solve this? I go over and manually fix and he calls cops on me. If I tell cops to take down my number, they ask owner to do so and then he replaces with my building number again few days later after cops leave. Any way to solve this? Very frustrating. [link] [comments] |
| Posted: 21 Jun 2020 09:24 AM PDT I know this is probably the millionith covid related post, but I'm starting to feel a little frustrated so I would appreciate some advice. Long story short: I'm in a bad rental situation. It sucks, I'd like to get out, but I don't need to move. My lease runs through next May. I am feeling pressured by my wife, mother, and mother-in-law to buy a house. My wife thinks I don't want to buy because I'm being picky. But my thinking is this: We're in our late 30s. I don't want to buy a "starter home" and have it immediately tank in value, then get stuck in a place I don't want to live in for more than 5 years. My thought is if I find a house that will work long-term (10+ years), I'll buy it and not worry too much about the market. Problem is the market here is still hot, and anything I actually like gets into a multiple offer situation and sells immediately. (Just had a house taken off a tour today because the offer deadline was 10am.) I feel like right now is a terrible time to buy a home because inventory is so low (especially at the size and price point I want). I would prefer to wait until the fall. Eventually homes will start coming on the market again and prices will drop. My wife counters by saying mortgage rates are low, but I feel like that's not as big a deal if we're buying a home we only plan to live in for 5 years. Am I worrying too much? [link] [comments] |
| [IN/MI] Trying to pay off our land contract home with equity off a home sale Posted: 21 Jun 2020 09:24 AM PDT My newly wife [35f] and I [32m] closed on my house in Michigan and after closing costs and commission we ended up with about +50k that would be enough to pay off her home in Indiana. When speaking with the family friend who holds the land contract ( whom I have only briefly met once) he suggested we go to the recorders office to do our own research but we could avoid a title company if we chose. Because there is no agent,no title company, and I dont know this individual well (although my wife knows him well and vouches for his character), I was wondering if anyone had any advice regarding how to settle a land contract. [link] [comments] |
| Posted: 21 Jun 2020 08:38 AM PDT A home in my old neighborhood is currently for sale. It's a home I always admired growing up and it's conveniently located two roads away from my elderly parents. Here are the details: Assessed at ~164k. Built in 1976, one owner. Spanish style, one-level with 3 bed 2 1/2 bath. In-ground 70s era pool, standalone metal carport, and a tool shed. Situated on 5 acres of mostly wooded land. Yard and outside of home suggest that it has not been kept up in a very long time (house likely has very few or no upgrades at all). There has been a for sale by owner sign in the yard for more than six months but they never put contact info on the sign. There has been a no trespassing sign posted there for as long as I can remember so I didn't feel comfortable stopping there. The house now looks vacant from the road. This is potentially a nursing home situation. This is the complicated part. In late March, it was posted in the paper as an auction due to foreclosure. That never took place because of COVID-19 and now there is a moratorium on foreclosures in Virginia until June 30 (unless it gets extended again). The GIS website has the property still listed in the owner's name, but sometimes it takes months to update that site. The contact address on there is the now vacant property. So, who most likely owns it right now? To view the house, do I need to pull the records from the courthouse and contact the lender since it was previously scheduled for auction? Should I keep trying to locate the owner? Also, would it be better to wait until it's officially a foreclosure? I'm a little worried that, since it's got so much land for this area, flippers will get it faster than I can if I wait, but with the moratorium going on I am also not sure what my options are right now. I'm going to be talking with a buyer's agent on Monday, but I figure it can't hurt to get all the advice I can get. [link] [comments] |
| Pre-approval soft or hard pull? Posted: 21 Jun 2020 07:44 AM PDT I'm considering using rocket mortgage, but the site mentions requiring a hard pull of credit. When I bought my first home, the pull was soft. Does anyone know of a lender that will do a soft pull? I do like rocket mortgage for the fact that everything is done online. I similar lender would be greatly appreciated. TIA. [link] [comments] |
| Looking for guidance, advice, insight, etc... Posted: 21 Jun 2020 07:04 AM PDT First time home buyer here. Kind of in a unique situation. I am currently renting the home that at some point I wanted to purchase. That point has came. Received a call from the landlord, who is a family friend per se, informing me that he wants to sell the home and would like to offer the home to me before putting it on the market. He is looking to get $180,000 for the home. The "city appraisal" has the value at $188,000. The landlord purchased this home for $167,500 in 2017 and lived in it for less than year. Eventually he moved a few towns over with his new wife. I have lived in the home longer than he has. He has made no updates to the home. I do want to counteroffer $170,000 as the home does not have a garage and there are some other things that I know about the home that others may not. Similar homes in the area are going for around the same price.I should note we are also doing this without a realtor to save money. We do have the home until October per lease agreements. So, a little bit about me. I am sub-contractor and have been practicing since May of 2019. I was unable to get a conventional loan because I had not been self-employed for two years. Even though my income is decent and credit score is 750, every bank basically said come back when you have two years of self-employment. However, a local bank has offered me what they call "temporary financing" utilizing an in-house loan. I guess they see me as someone who is credible. Here is the basic lay out of the loan I received from the loan coordinator. I wasn't too excited by the thought of having an ARM but I suppose I can just re-finance in a couple years. Here is what I calculated based on a loan amount of $170,000, interest of 4.375%, $13,000 cash to close, $3,680 in closing costs, using the 5/30 ARM: Principal and interest = $852.18 Tax = $283 (I used $20/thousand as an avg. tax rate) Insurance = $75/mo. (fairly standard amount) Total = $1,210.18 Again a rough estimate considering I didn't pull the tax rate in city and we don't have a quote for homeowners insurance yet." I guess I am just looking for everyone's thoughts and insight regarding the situation. I am new to all of this and want to make sure I'm not getting myself into anything too risky. Is this something I should take or should I wait to see if I can get a better loan option when I have two years of self-employment? [link] [comments] |
| NYC condo owner equipment questions Posted: 21 Jun 2020 06:49 AM PDT Hi everyone, I am an owner of a newly constructed condo. (I say new but it has been at least 2.5 years.) I was just wondering if it is normal for appliances and equipment to start breaking down only after 2 years? To be specific, my over the range microwave has shorted, and my HVAC is starting to have issues with the high pressure sensors. Both are no longer covered by the building as they claim warranty is only for 1 year. When I looked online, the durability of the microwave should be 5-10 years and the HVAC should last 7-15 years. I'm a little frustrated that I already have to pay for repair services, (potentially over $800 for both). The reason I bought a new construction was for quality, but it seems everything is breaking down sooner then expected. I just wanted to see if this was a "normal" situation as I am a first time owner and was not sure what to expect. Thank you in advance for sharing your experiences. [link] [comments] |
| [MD] First Time Home Buyer - Closing Process Questions Posted: 21 Jun 2020 06:07 AM PDT Happy I found this sub. I'm a first time buyer in what has typically been a sellers market in central Maryland. I think I've found the house near what I've calculated to be the top of my budget. Down payment is steeper than I like, but I can afford it with 8 months of pre-approval-estimated payments left in savings after estimated closing costs. I haven't put an offer yet, but have a few questions about closing that my(?) realtor hasn't really talked about:
Thanks for those taking the time to help me out... This whole thing feels like Schroeder's cat. [link] [comments] |
| Looking at a 1905 house, what to look for? Posted: 20 Jun 2020 09:16 PM PDT Considering a nice little bungalow, but I've never looked closely at a house this old before. What do I need to be especially on the look out for? I know about making sure it's not knob and tube or aluminum wiring, size of service, any sketchy homeowner electrical upgrades etc. [link] [comments] |
| Any real estate appraisers out there? Posted: 21 Jun 2020 03:27 AM PDT If this isn't the right sub for this question, I apologize in advance. I'm potentially looking for a new career. I'm 39 years old, live in Virginia, US, just wondering if it's worth the time, effort, and expense to become an appraiser, considering my age. I have no college education, and so I'm feeling a little stuck in my current job. It's local government, pays ok (50k-60k depending on how much overtime I do), and I enjoy what I do most of the time, but the upward growth is pretty non-existent unless I want to become a supervisor, which I don't. Plus it can be a toxic environment, which I don't really want to deal with anymore at my age. I've always loved houses, buildings, architecture, but I'm not a salesperson, so becoming a Realtor doesn't seem like the path for me. I'd love to have a job in the real estate world, though. That doesn't seem like a whole lot to hang a career on, but I really do love houses. I'm always on the Zillow, Trulia, Realtor apps, looking at houses, critiqueing photos (lol), trying to figure out why this house is so cheap, or that one so expensive. I'd love to get into the industry and be more hands on, but I do wonder what kind of skills lend themselves to the job more than just "I really like houses." Thanks in advance for any advice, insight, etc. [link] [comments] |
| The importance of a Dishwasher Posted: 20 Jun 2020 03:20 PM PDT Hell all, I'm currently thinking of buying a gas range/oven combo to go where my current stove top sits (my wall in hotpoint oven from 1957 stopped working). The only problem is that most ranges are about 2 inches wider than my current countertop. I need those 2 inches to be able to open my dishwasher door (which is old and 24 inches). So my question is, how important is having a dishwasher when it comes to reselling the house? My idea is to pull out the dishwasher and throw cabinet doors in it's place. I rarely use mine but I don't want to pull out the dishwasher if it'll mess up my resale value. I've looked at other wall in ovens but they're super expensive when compared to an oven/stove combo. Thanks! [link] [comments] |
| Posted: 20 Jun 2020 07:43 PM PDT I'm debating between a house and a condo. I'm a minimalist and don't like debt a la Dave Ramsey style, and I prefer to spend most of my money in investing. I also work in IT and have a career where I may have to move occasionally to go where the opportunity and more money is. I'm worried about sucking all of my money into a down payment if I get a house instead of investing that money. However, if I rent a place for 5 years or more, I feel like I could have used that 12000 to 15000 I spent yearly on rent on a down payment, so I guess the phrase "rent is throwing your money away" does have some truth to it. I'm interested in a condo because I don't like maintainence. I'm not that type of guy to enjoy spending my weekends mowing the yard or making home depot shopping my hobby. I feel like maintenance on a home takes away from money that could be used elsewhere, and it also takes away time that can be spent learning other things etc. The things that worry me about a condo are: I've heard they go down in value after a few years, and the HOAs can be around 400 to 800 depending on the city. Which would save more money over time: buying a condo and paying HOA, but having no maintenance or supplies to buy, most condos I've seen in places like Miami, Dallas, Charlotte etc that are in my price range are around 200000 to 450000 with a 400 to 800 dollar a month hoa. OR buying a house in the burbs, having to do maintenance, commute more, buy more maintenance supplies, and spend time maintaining the home? Most houses I've looked at are in the burbs have a longer commute, and are anywhere from 200000 to 350000 for a good neighborhood with lower crime. OR is renting and investing better. [link] [comments] |
| Tough Co-op Closing or That's Just How It Is Posted: 21 Jun 2020 03:02 AM PDT
Purchased a Co-op that was renovated but priced well above market - was even asked about it during the interview by Board members (they were happy with my answer that it should only benefit existing shareholders). Appraisal confirmed high price and seller would not meet us all the way to secure financing. Paid the difference because family wanted to close on the property. On the day of original walk-through, seller agent informed us that not all utilities were turned on. We knew that because we scheduled our own inspection months ahead - which seller agent questioned. Our attorney advised, due to renovation and contract clause (that property be move in ready), that we should not close until utilities turned on. We adjourn - much to shock of Management Co. We only learned that Management Co. did not agree with the decision until day of our next scheduled closing, a few weeks after. Utilities now fully turned on. We also learned, hours before closing that there was a new assessment charged which no one knew about (this would be the last month, they promise). Everyone, from seller's attorney, to real estate agents, to our attorney, were under the impression that the assessment had ended the previous month. New assessment was 6x original assessment, and when questioned, Management Co. said they lumped the remaining balance into one final payment. At this point we just wanted to close and be done with the nonsense. Did we walk into a nightmare or is this just business as usual? How often would a Management Co. pull a move this petty? And would we have lost our deposit if we walked at that point? Also adding to the conspiracy, seller had supposedly moved outside the US but showed up at closing, has family still in the complex - and "surprisingly" shares the same last name as the Board President. Paranoia has firmly set in and I'm unsure I'll ever be able to let it go. Please help. [link] [comments] |
| First time home buyer. I have questions and need guidance. Posted: 21 Jun 2020 01:54 AM PDT Just wanted to reach out for guidance here. I've been home shopping for almost a full month now and may have found a home for me. So:
Some information which may be helpful:
[link] [comments] |
| What style of house is this? (CT) Posted: 20 Jun 2020 03:35 PM PDT I'm looking for a house to renovate and the structure of this one seems like it would require the least renovation. Most houses here in New England are called colonial, elegant colonial, and modern colonial, but I'm trying to research other ways to find houses with this style of design. If this isn't the correct forum, could someone point me to the right one? Photo here - https://ibb.co/VJb1dgq [link] [comments] |
| Pros and cons of a huge backyard Posted: 21 Jun 2020 05:33 AM PDT I have recently visited a home that I liked and found that the backyard is about 100ft x 50ft in size. What are the pros and cons of it and how this would affect the resale? Edit: This backyard is facing the road which is not busy right now but it may get in the coming years. [link] [comments] |
| Have contingency contract to sell Posted: 20 Jun 2020 04:00 PM PDT I entered into a contract with a few contingencies to sell my husband and my primary home. I had to sign POA for my deployed spouse on the sale contract. 1-must have final loan approval to me by 6-10-20
I never got the loan approval in writing. Only a verbal from the lender. I wasn't really paying attention to it because I was given a diagnosis that is a major health crisis. There also was a request for us to fix things off the inspection but we never signed that. It's minor repairs and likely not a deal breaker for them. The realtor says the house for the buyers is under contract but I do not see it actively listed in the MLS as under contract/pending/contingent. Just says active. Biggest issue is now my husband's deployment has just been extended and he will not be home to close. My POA expired 5 days ago. No one planned for COVID and all its fall out. This is uncharted territory-I want to speak to the other agent but not before I speak with an attorney. It's a very small town and this isn't going to okay out well no matter how this goes down. Since I don't have a loan approval that's final-as per the contract, I want to pull the house and not worry about the sale without my husband here to help since I need to focus on health check ups. What do "you" think the potential fall out is at this point for my family legally? [link] [comments] |
| Market devastated by hurricane. 203k Rehab or Manufactured on permanent foundation as real property? Posted: 20 Jun 2020 11:25 PM PDT I live in a community that was devastated by a hurricane and destroyed a large chunk of the housing market. For a period of time after the hurricane, there were barely a dozen houses left on the market in a community of about 180,000. If you actually google the county I live in, it's just a picture of another town that looks like a nuclear bomb went off. Supply and demand took effect and houses that started to get put back on the market jumped up 30%. Any house under $125k doesn't really stay listed for more than a few days unless it is in great disrepair. I have about $125k to work with (that I can get approved for) and I'll have to go the FHA route to be able to take advantage of a lower downpayment (I will have access to about $5k-7k for a downpayment.) I could wait another year or so and save another $10k, but I live in a coastal city and there is no guarantee these housing prices won't continue to climb at a rapid pace. Trump has held a rally nearby and I think that has seriously brought a lot of attention to our area from monied out of towners. It is a beautiful area and land was insanely cheap for being so close to the water. I'm worried about the 203k rehab route. The last time I talked to an agent and my bank about this, both were apprehensive. The real estate agent never closed a 203k around here and neither has my bank, rehab loans were new for them. On top of this, due to the hurricane, most contractors are already backed up. This lead me to the idea of a manufactured house on a permanent foundation. Luckily, plots of land zoned for manufactured housing not very far from the city center are available for reasonable prices. I don't have a personal gripe with living in a manufactured home, but everyone else I see online seems to. Is it really a bad idea when it is titled as a real property on a permanent foundation on land that you own? Are the newer ones really still terrible with insulation? How do I get these salesmen to be honest with me? I get shitty vibes when I walk onto any manufactured housing lot. The things I've read make me want to go the rehab route, but local resources don't seem to be helpful there and I don't want to wait for housing prices to keep going up. You used to be able to buy a 3 bed 2 bath house for under 100k where I grew up not very long ago (maybe 3 or 4 years ago), and those homes are now close to 180k. [link] [comments] |
| 70% of Savings for Mortgage Down Payment Vs. PMI Vs. Moving out of state Posted: 20 Jun 2020 03:29 PM PDT |
| You are subscribed to email updates from HomeOwners & Investors. To stop receiving these emails, you may unsubscribe now. | Email delivery powered by Google |
| Google, 1600 Amphitheatre Parkway, Mountain View, CA 94043, United States | |
No comments:
Post a Comment