Real Estate: Realtor Fees are BS |
- Realtor Fees are BS
- After going back and forth forever the seller finally accepted our negotiations after the inspection!!! We close in 10 days!!
- San Francisco rents plunge as tech employees abandon high-priced city to work remotely
- Is my Realtor incompetent ?
- I've already purchased a home, but my fiancee has not. Could she qualify for a typical first time homeowner program after we're married? If yes, even with me as a co-signer?
- New home buyers - What was your process on determining what items to buy, things to replace or upgrade once you got in?
- Options for selling a home without getting killed by closing costs?
- Anybody else currently looking for a home in front range Colorado? Isn't this crazy??
- Does getting mortgage pre approval impact your credit score?
- Roughly 200k ready, WWYD?
- New Owner Raising Rents During Lease Term?
- Building our first home, I'm stoked!
- Waiting on application from realtor.. should I be worried?
- Ask if seller will do Seller Financing
- Can a landlord/family member charge me for repairs when I move out if he did not collect a security deposit when I moved in?
- Ideas on real estate / mortgage industry research?
- Building next to high school
- “If you want it, don’t try for a bargain and risk losing it. The anxiety of paying that much won’t last. But the enjoyment of living there will last forever. Go all in.”
- Real Estate Agents don't matter
- Florida home insurance
- online service to find pending foreclosures?
- Job title switch a week before closing - URGENT
- Ceiling cracks (should I be worried?)
- Do I need a closing attorney?
| Posted: 09 Jun 2020 05:12 AM PDT Don't want to offend anyone, but just want to vent about how realtor fees are absolute nonsense. In Boston at least, renters are expected to pay realtors one months rent when signing a new apartment (I'm talking about things like brownstones not big buildings). That is SO MUCH MONEY to pay someone for doing a job I essentially am doing for myself (I end up finding all of the apartments myself by looking on Zillow etc) and all the agent does is let me in to give me a tour which mainly amounts to them stating the obvious about exactly what I'm looking that ("As you can see, this apartment gets great light!... such an incredibly spacious bedroom!...etc). Either landlords should be the ones paying the realtor fees when someone signs a lease, there should be a system in place that lets me see the apartment on my own, or realtor fees paid by renters should be like 60% less. These fees are such a turnoff that I end up looking at more "managed buildings" that don't have realtor fees since the effective rent after a realtor fees usually makes the effective rent unpalatable. EDIT: This is how it works in boston from my experience. Seems like this is not how it works in every city. Tl;dr Realtor fees are way too much for high for the work required - at least in my city (1 months rent). [link] [comments] |
| Posted: 08 Jun 2020 07:34 PM PDT |
| San Francisco rents plunge as tech employees abandon high-priced city to work remotely Posted: 09 Jun 2020 11:17 AM PDT Thoughts? I'm gearing up to leave myself if my landlord will not reduce my rent. [link] [comments] |
| Posted: 09 Jun 2020 08:37 AM PDT Finally found a property to buy in a hard core seller's market (think amazon and msft HQ), realtor directed the offer by lowballing the seller by 10% and making my pre approval letter to be the exact number of that low ball (even though I am actually pre approved for twice the amount) while "guaranteeing" me that we could do a counter offer . Someone offered full price (which I explained I was willing to pay) and took it. Realtor said to me she thinks "when it is not meant to be it is not meant to be". She also insisted I use her mortgage provider, which I was going to, (Long and Fosters) because "they are so good at closing fast" whereas my bank (one of the big, safe ones) may falter. Any advice, criticism ? Thank you. [link] [comments] |
| Posted: 09 Jun 2020 11:32 AM PDT |
| Posted: 09 Jun 2020 04:56 AM PDT Sorry its a vague question but we are closing on a townhouse Aug 1 and are trying to decide what items we NEED and what things we WANT to do. Just curious to hear other's stories. Thanks! [link] [comments] |
| Options for selling a home without getting killed by closing costs? Posted: 09 Jun 2020 10:35 AM PDT Potentially looking to relocate. We have owned the house for just over a year and put $12,000 down. We have in the ballpark of $17,000 equity. If sold through a realtor, we would be looking At something like $13k in closing costs, meaning we would get back $4k and basically be out the $12,000 we put down due to the hit on closing costs. Any advice for how to sell without the loss? For sale by owner is an idea but I understand it can be much harder to sell and still would have to pay closing costs for the buyer. Also considered renting but I don't know that I could secure an additional mortgage without having the rental income for a period of time. Any advice would be helpful. [link] [comments] |
| Anybody else currently looking for a home in front range Colorado? Isn't this crazy?? Posted: 09 Jun 2020 10:16 AM PDT We're first time home buyers and we're looking into single family homes located between Broomfield and Denver that are priced under 400k. Listings are scarce to begin with, and when we actually find something that we partially like and place a bid, we get outbid even though we think we are generously bidding above asking price. Seems like buyers are hammering this price range and their metric is more of how big a loan they qualify for than how much the home is actually worth. We've seen (flipped) homes that according to their public record have been purchased 2-6 months ago for 150k less than the current asking price, and still people are over bidding and waiving inspection/appraisals etc. Is this a terrible time to buy, or is this area's market doomed to be crazy forever? I don't know. [link] [comments] |
| Does getting mortgage pre approval impact your credit score? Posted: 09 Jun 2020 07:29 AM PDT I was talking to a lender and he was telling me that it's a common misconception that getting ur credit score checked for mortgage loan impacts your credit. That didn't seem right to me. Is this actually the case, that it doesn't impact your credit score? I was waiting a bit to know for sure whether I was ready to get pre approved before jumping the gun since I don't want it to impact my score while I'm not 100% ready to buy [link] [comments] |
| Posted: 09 Jun 2020 09:41 AM PDT Hey guys! I hope I'm posting this is the right spot as I'm in real need of guidance for my next step. (I'm 27) (make roughly 100k/yr) (living with parents helping them out) (No debt) (LA- California) I'm looking into either purchasing a house in California and pay the mortgage for a few months , and then rent it out then move to an apartment. OR Maybe purchase house in Nevada, rent it out and live in an apartment here in Cali? Anyone have a similar experience? What would you suggest? [link] [comments] |
| New Owner Raising Rents During Lease Term? Posted: 09 Jun 2020 05:27 AM PDT So my apartment building was just purchased by a new owner, who has significant upgrades in mind. He hopes to double the rent with these renovations but plans on increasing ours about 28%, since we've been there a while. Here's the issue though, we just signed a lease renewal a few months ago for another year, until June 2021. (Before the new owner purchased the building) Neither the original lease nor lease renewal mentioned anything about the rent increase, and all terms were to remain in place from the previous lease. Can the new landlord legally raise the rent for us before our lease expires? It seems that this rent increase would be paid in good faith since these upgrades would be significant, but we're college students. We never asked for these renovations, and frankly don't care that much. I don't want to create issues with the new owner, but I want to make sure I know my rights as a tenant before I speak with him about this. I am in Upstate NY, btw. [link] [comments] |
| Building our first home, I'm stoked! Posted: 08 Jun 2020 02:57 PM PDT Wife and I signed the papers last Thursday, the money came out today for the deposit. It's a spec home, but it's a nicer/larger one and it has the garage and lot I wanted and the space she did. It also has an unfinished basement as a play space for the kiddos (19 months and -35 weeks!) I'm super excited, it backs up to a stand of trees, I can walk a mile to a movie theatre and a bunch of bars and shopping. It's big enough to last us a long time until we decide to move to the country or something changes immensely. I know we can afford the mortgage, it's just a big adjustment since it's 1100 more than we are paying now with 0% down, if we did 0% down (thank god for VA! [2.625%]) I'm not usually a poster here, but I'm stoked. [link] [comments] |
| Waiting on application from realtor.. should I be worried? Posted: 09 Jun 2020 11:21 AM PDT Was shown a place yesterday at 3:00 PM. It's 11:30 AM the next day and yet to receive his email from an application. It's for a $1,500 commercial unit. Is it normal to wait more than 24 hours to fill an application out or should I be worried? I figured they'd want to seal deals ASAP during this down time. [link] [comments] |
| Ask if seller will do Seller Financing Posted: 09 Jun 2020 11:11 AM PDT So I am going to start off with that I am unable to do traditional financing for a house right now due to my yearly income. I have found a house in my local area that has been on the market for nearly a year. I have done a walk through with the realtor. There are some things that need fixing up, but it is otherwise in not bad shape. The owners moved a zip code away for the wigs job and their child's school. They are super motivated to sell and from my conversations with the realtor just want someone to enjoy the house and not tear it down (it is older). Currently it is listed at $70,000. What are some points that I might be able to use to try to convince the sellers to do seller financing? I have a 10% deposit currently for it and would be using the place as my primary residence. [link] [comments] |
| Posted: 09 Jun 2020 11:05 AM PDT So I moved into my brother's basement suite 4 and a half years ago. I tried to give him money for a security deposit and tried to get a written lease but he would not do either. Now I am moving out and he is wanting me to pay for repairs out of pocket. I am peeved because I wanted to give that money to him at the beginning so this would be avoided but now he's wanting me to pay for things. The only things I can think of before he does the walk through is replacing the door frame and doing some patching on the walls. I used command strips but some of the paint was peeled off when I removed them...is that considered normal wear and tear? When I moved in he said "you can make as many holes in the walls from pictures as you want because I will have to paint when you move out anyway" What rights do I have as a tenant if there was no lease and no security deposit? [link] [comments] |
| Ideas on real estate / mortgage industry research? Posted: 09 Jun 2020 11:04 AM PDT Hello all. I'm interning with a mortgage group over the summer primarily doing data science stuff (which I use a lot in my other job). Was just wondering if anyone had any potential ideas regarding research projects I could undertake during my time here as we will have the opportunity to be pretty independent at times. Obviously a popular one in the mortgage industry is how to better predict/prevent loan default, which I've already began working on using some logistic regressions in R and excel. I'd love to hear other ideas, market trends to explore, etc. Anywhere in the real estate, mortgage, MBS/CDO realm. Thanks! [link] [comments] |
| Posted: 09 Jun 2020 11:04 AM PDT Should I rethink building a new home by a high school? Will the marching band really be that loud? [link] [comments] |
| Posted: 09 Jun 2020 10:34 AM PDT Curious what people think of this. Agree/disagree? The quote comes from an autobiography of Netflix founder Marc Randolph, on the advice he got from his mom who is a retired real estate agent. [link] [comments] |
| Real Estate Agents don't matter Posted: 09 Jun 2020 10:13 AM PDT This post might offend some people, but its the truth. I am have been a Loan Officer for many years and have worked in all aspects of the industry. After almost a decade of Real Estate experience, I have come to the conclusion that Real Estate agents are over paid, do essentially nothing, and add to both the stress - cost - and experience of buying a house. The only reason they are still around is because people just assume they need to have one to purchase or sell a property, when in fact, alls you need is a competent attorney and a loan officer/mortgage broker. I live in the north east where home prices have sky rocketed and are becoming borderline unobtainable for the lower and middle class to live a fruitful life. I have had countless conversations with people who are mortified that they are paying anywhere from 4-6% of the sale proceeds to the real estate agent, who again, from a guideline & legal perspective, do none of the work thats actually needed. That 4-6% commission that agents receive almost always comes from the seller of the property to list their house for more than its worth. A common rebuttal I get to that is "thats not right - the listing price is on par with comparable properties"...Yes it usually is, but the 4-6% has been added on to every other property in the area. This post isn't meant to be negative, and I have met and worked with dozens of really awesome people, but I think its important for people to realize that you literally don't need a Real Estate agent and they are the highest paid party that do the least amount of work and they are the only party (aside from attorney fees) where the commission is paid by the consumer directly. [link] [comments] |
| Posted: 09 Jun 2020 04:08 AM PDT Hello, I am thinking of switching my property insurance for a rental property from Florida Peninsula Insurance to another more affordable/cheaper one. I live in Florida. Any recommendations? [link] [comments] |
| online service to find pending foreclosures? Posted: 09 Jun 2020 10:03 AM PDT Virginia- Is there a service to find out pending foreclosures before they hit the market? [link] [comments] |
| Job title switch a week before closing - URGENT Posted: 09 Jun 2020 09:42 AM PDT So I have a odd question. Set to close in 12 days, but I may be switching departments with a new title/responsibilities. Same pay and same company, do I notify the lender or is this not an issue? [link] [comments] |
| Ceiling cracks (should I be worried?) Posted: 09 Jun 2020 05:56 AM PDT I'm considering renting an apartment in Tokyo but am quite worried about the cracks in the ceiling. I've posted the worst one on imgur. The real estate company is telling me it's caused by condensation and that there's no need to worry, but what do you all think? [link] [comments] |
| Posted: 09 Jun 2020 09:01 AM PDT Hubs and I are closing next week on an REO. Our lender just sent over a "clear to close" document telling us what to expect and it briefly mentions "your closing attorney" which we don't have. We have a realtor and the Title company/agent has been handling the escrow account. Should I have hired an attorney and, if yes, what purpose do they serve? Edit: we are in Florida [link] [comments] |
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