Real Estate: Should I "remind" my landlord that he only has 6 more business days to return my deposit before I go to small claims court? |
- Should I "remind" my landlord that he only has 6 more business days to return my deposit before I go to small claims court?
- Even with mortgage assistance, 47% of homeowners have considered selling their home due to pandemic
- Laid off due to the pandemic. Can we still apply for a mortgage now that we are back to work?
- New kitchen with no dishwasher?
- Can you change the downpayment amount after the offer is accepted?
- (VA) tenants not paying, am I forced to eat losses?
- Is now a crazy time to become a real estate agent??
- How can we fix inaccurate information from multiple brokers?
- Want to build a house, where do I start?
- Future Real Estate Value Downturn?
- When exactly do you know & lock your mortgage rate w. your lender?
- Buyers Agent
- Property tax discrepancy
- Competitive advantage in dual agency
- How to find a broker to work for?
- Just moved in to my dream home and found out around 80% of the homes are rented!
- Buying a home sucks
- Maryland First time home buyer
- What are we doing wrong?
- How accurate are online parcel viewers?
- If I were already pre approved by a bank for a loan and find a house on my own and make an offer which the seller accepts, is there any reason to use a realtor?
- Reduced commission for private listing?
- Capital Gains Tax if buy my single owned property (where never lived)
- Builder canceled our contract because of being furloughed too long
| Posted: 22 Jun 2020 07:17 AM PDT Wyoming - I moved out of my apartment in April, my lease ended on May 31. I returned my keys on May 1st along with the last month of rent, as I had already found a new place to live. In my state, a landlord has 30 days after the last day of the lease to return a security deposit, so June 30. On June 10th I asked when he would be sending it, and to send it to my forwarding address, and he said he's having his accountant work on it. He now has 6 business days to return the deposit, and I'm wondering if it's worth reminding him again. This is probably unrelated but when I paid my last month of rent, I should have kept my keys till the lease ended, as he already had another tenant move in a few days after. Not to mention, my lease did not say anything about cleaning fees, repair fees, or the like. [link] [comments] |
| Even with mortgage assistance, 47% of homeowners have considered selling their home due to pandemic Posted: 21 Jun 2020 05:38 PM PDT When forbearance ends, could this be the much needed supply to satiate demand? Anecdotal, but I've seen more supply come online in MA in the last two weeks than the last two months. [link] [comments] |
| Laid off due to the pandemic. Can we still apply for a mortgage now that we are back to work? Posted: 22 Jun 2020 06:51 AM PDT My husband and I were laid off due to the pandemic closures. I got back to work after 3 weeks with working at home and he got back after 2 months. However, he was laid off -before- the pandemic for just about 6 months. He was hired back just a couple weeks before our state's lockdown. So he worked just a couple weeks before the lockdown and has been back full swing now. He's had a long term job of 7-8 years. I am reading some articles that suggest being laid off due to the pandemic is not a big problem... I obviously am a little unsure. But also he was laid off for 6 months prior to the lockdown, though back at work just before that lockdown. I wanted to know if anyone has info on whether it sounds like we would even be approved? We just worry about his previous layoff, which was a little over 6 months. Plus the both of us being out of work because of the pandemic for that brief stint. Thank you for any insight/info. [link] [comments] |
| New kitchen with no dishwasher? Posted: 22 Jun 2020 08:47 AM PDT A house I'm considering has a new kitchen (new cabinets, countertops, island, range) but no dishwasher or garbage disposal. Does that seem weird to you? Seems like a yellow flag to me. [link] [comments] |
| Can you change the downpayment amount after the offer is accepted? Posted: 22 Jun 2020 05:04 AM PDT Hello! My husband and I had an offer accepted yesterday for our 1st home. We were *technically* the lowest offer; however, the seller chose us because of our high downpayment and conventional loan type. House listing price: $194,900 House selling price: $205,100 Money listed for downpayment: $75,000 My husband and I were originally thinking that we would pay off the house quickly (hence the large downpayment), but as the interest rates are so low, we figure it would be better to invest instead. Because of this, we have decided that we would like to only put 20% down upfront. However, both the preapproval and the offer letters mention the $75,000 downpayment. Is this a problem? Can you change the downpayment amount after the offer is accepted? [link] [comments] |
| (VA) tenants not paying, am I forced to eat losses? Posted: 22 Jun 2020 09:56 AM PDT I have my first home in Virginia (Fairfax county) rented out. My tenant did not pay this month's rent. I have a property management company handle the payment and they said there's nothing I can do due to the COVID laws. I'm waiting for them to tell me exactly which laws. Obviously I'm not going try to evict the tenant. However, I'm just wondering if I'm simply going to eat a loss and they're going to live for free for the next however many months while I still have to pay my mortgage, taxes, HOA fees etc. [link] [comments] |
| Is now a crazy time to become a real estate agent?? Posted: 21 Jun 2020 04:55 PM PDT I've been working full time at home but have a lot of free time on my hands. I was thinking of earning a real estate license so I can have a side gig on the evenings/weekends. Is the market totally over saturated with agents already? It appears as though covid hasn't had too much of an affect on the market yet. I admit I don't know much about real estate but I am eager to learn and also think it wouldn't be a bad idea as I'm getting close to purchasing my first property. [link] [comments] |
| How can we fix inaccurate information from multiple brokers? Posted: 22 Jun 2020 08:58 AM PDT We used a mortgage broker earlier this year who spewed inaccurate information to a bunch of lenders and now that we are buying a house again with a proper broker, the lenders are declining us because there is conflicting information. How can we fix this? Why should we pay the price because someone cannot do their job properly. [link] [comments] |
| Want to build a house, where do I start? Posted: 22 Jun 2020 06:20 AM PDT My boyfriend and I own a house in Massachusetts. We'd like to build a new house in MA and he recommends we sell our house (probably make ~$125k from the sale) and move into an apartment for a year that way we have liquid cash to start the building process. My big question is, could we hire a builder/developer or architect before selling/moving into an apartment to help us draft up a floor plan of what we'd like? We plan on building a home that also had a en suite for his parents that has 2-bedrooms and a living room + bathroom + kitchen. I feel this is not common and want to first make sure a house as custom as this would be in our budget. My boyfriend thinks first we got to free up the cash and sell before we start planning but I'd feel more comfortable getting a floor plan with a builder/developer on board before we sell. We both have no idea or basis on what's the right way to do it so I will take any and all advice you may have. [link] [comments] |
| Future Real Estate Value Downturn? Posted: 22 Jun 2020 10:39 AM PDT Considering 30% of Americans missed a mortgage payment in June and eviction moratoriums end in a few days, what is the likelihood that property prices will fall in the future? [link] [comments] |
| When exactly do you know & lock your mortgage rate w. your lender? Posted: 22 Jun 2020 06:50 AM PDT We are first time home buyer and our offer for the house was just accepted. I got preapproval letter and everything and are waiting for the inspection do be done before officially apply for the mortgage. I have everything lined up so hopefully things will be smooth. One thing I'm super confused about is when exactly we know about our mortgage rate. With rate fluctuating ~0.05-0.1% daily it is very significant I know the exact date to negotiate. I have talked to my potential lender and he said the rate on preapproval letter is just for reference, the real one will be finalized on the date of loan application. That makes sense but I believe the lender doesn't have to commit to anything at loan application as the loan needs to be approved first. How was your experience doing this and how did you guys make sure your lender commit to the rate he/she agrees to you? btw, Im in NOVA. Thanks [link] [comments] |
| Posted: 22 Jun 2020 10:31 AM PDT Am I out of options? I found a house on Zillow and arranged to see it directly with the listing agent. The agent disclosed it is 3% and 3% selling/buying agent commissions, but he will not offer a rebate if he acted as a dual agent. I called another buyers agents and they will not offer a rebate either. At the asking price the buying agent would get a $25k commission even though I found and saw the place on my own... Unfortunately Redfin doesn't operate in this area. Are there any other ways to realize some savings? [link] [comments] |
| Posted: 22 Jun 2020 10:18 AM PDT I hope i am able to make sense of this. I am in GA, just in case that is relevant. Husband and I bought our home in 2014, in which it was appraised for $80,000. Honestly I never paid attention to any property tax documents because it comes out of escrow, so out of sight out if mind. Taxes in my county are LOW, another reason I never thought to even look at the annual assessments. On the 2020 tax year document, the 100% appraised value is $63,285. Yearly taxes are less than $800. Here's the thing. It lists 2 buildings that we do not have. One of the buildings is just outside of the property line (abandoned and literally falling down) and the other was never here when we bought the house, yet a picture of it is still on the county's site when looking up my property info.
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| Competitive advantage in dual agency Posted: 22 Jun 2020 10:13 AM PDT Currently in a market that is extremely hot due to low supply. I've been trying to buy a house for a few months now without success. I'm trying to do everything I can do give an edge in this market - not asking sellers for anything, waiving appraisal contingencies, personal letters, and of course throwing money at the problem by making the most aggressive offers I can. I was working with an agent but ended up dropping him as I felt there were these lessons learned after each lost offer and they were mistakes that I would have thought an agent could help me avoid. Anyways, I was lamenting to a relative who has some experience in real estate investing and he recommended I just reach out to the listing agent directly which is what I'm doing now. It makes sense to me on paper as it seems like in such a sellers market there's not much "negotiating" to be done on the buyer's behalf since it's just a feeding frenzy every time a new listing comes up - maybe some negotiations after an offer was accepted depending on inspections but that point is kind of moot if I can't even get an offer accepted. It seems like going directly with the listing agent could potentially differentiate me as a buyer as the listing agent can see first hand that I'm very low risk, and also aligns interests with regards to commissions (listing agent gets to double dip and/or kick a point back on the deal). I've used this strategy to make one offer so far. I didn't get the house but it seemed like the listing agent was doing everything in her power to advantage me in helping me craft an offer without explicitly divulging the offers she had in hand. We didn't end up winning and the vibe I got was that the seller wasn't super comfortable with his agent representing both sides which I suppose is a possible counterpoint to this strategy. Anyways, some of the listing agents I've worked with for showings since then have basically denounced this strategy as the sacred oath they pledge as agents prohibit them from providing advantage to any one buying party, buuuuuuut I also feel that can be a gray area and all things being equal they certainly don't mind doubling their commission (they change tune real quick when I mention I have a licensed friend who can write the offer for me if they're not comfortable doing both sides). They also usually try to get me to hire them as my agent going forward. Just trying to take the pulse from this community if going direct with the listing agent is an advisable strategy in this type of market or if I'm better off just bringing someone on. I should mention that I'm very familiar with the area and have gotten a pretty good sense for what things are going for right now so I really don't need an agent to show me around and tell me about neighborhoods, etc. [link] [comments] |
| How to find a broker to work for? Posted: 22 Jun 2020 10:01 AM PDT I am looking to become a real estate salesperson in Minnesota, to get licensed I will need to find a broker to work for. I am looking to get my license to expand my income and have a side gig. What is the best way to find a broker that would be interested in hiring me? [link] [comments] |
| Just moved in to my dream home and found out around 80% of the homes are rented! Posted: 22 Jun 2020 09:51 AM PDT I just moved in to a wonderful new construction town home in an affluent suburb. I love the home because it's walking distance to everything you could possibly go to (grocery stores, doctors offices, movie theaters, etc within a 5-10 minute walk). The median home price in the area is $378k with about a 10k increase in value a year since 2014. The townhouses in my neighborhood range from $310-$340k. I recently found out that at least 80% of the homes are rented. Fortunately, because they are townhouses, the exterior of the house will be maintained by the HOA. So far, the downsides of the renters are minimal (lots of extra cars and it will be hard to build relationships with people who are always moving out). I am concerned about my property value and quality of the neighborhood since the majority of the homes are rented. This is my first home, so sorry if this question or information I offered doesn't make sense. I couldn't find anything online to help me out. Thank you for your help! [link] [comments] |
| Posted: 21 Jun 2020 09:08 PM PDT Just put an offer in last night and waited in anticipation all day today to find out our offer was declined. We put in for asking price, no sellers assist, conventional loan, and still didn't get the home. Really bummed and having a hard time finding a home here in PA. [link] [comments] |
| Maryland First time home buyer Posted: 22 Jun 2020 09:05 AM PDT I'm 30 have a good credit, job and cash for 20% down payment. What other programs available for Maryland First time home buyer such as me Thank you [link] [comments] |
| Posted: 22 Jun 2020 09:04 AM PDT Searching in the Atlanta GA market, which is apparently too hot to handle. Our current situation is selling our MD house, under contract and we close 6/30. So that's a contingency there. We have a conventional preapproval for 160K. We've placed bids on at least 8 houses, rejected from 6 and counting. Very disheartened here. We've bidding on 140s-150 ranges, still asking for selling help but covering it all by going above asking, and even them some. Typically 3K over. I take it its not enough. Our buying agent isn't much help when it comes to offering any advice on our offers. We've even tried the letter route to state why we loved the house so much and nothing. Our timeline is getting closer and closer to needing to be down there. Not sure if continuing to place offers on any and everything, or settling and going back to renting/ apartment life. Advice? Edit: I should mention a lot of the homes in our budget are investor only houses so it cuts out A LOT of the current houses on the market. [link] [comments] |
| How accurate are online parcel viewers? Posted: 22 Jun 2020 08:41 AM PDT If this isn't the appropriate subreddit to ask this please point me in the right direction. I'm in the very beginning stages of adding a garage where a shed is currently standing in my backyard. According to the parcel viewer that my county maintains, the shed sits about a foot or so over the property line behind me. At some point the previous owners put up a fence that runs to the shack. So to keep the dimensions similar I'd have to remove some of it as well as a bunch of brush that right behind the fence. That's all well and good, but I'd like to be a good neighbor and talk to the people behind me about it as well. At a minimum I'm going to be cutting back some low trees that decided to almost exclusively grow into my yard. Before I do I'm just wondering how much stock I should put into the property lines I can find online. [link] [comments] |
| Posted: 22 Jun 2020 08:11 AM PDT Genuinely asking as I am uninformed as to what benefits the realtor would bring in at this point. Thanks in advance for your responses! [link] [comments] |
| Reduced commission for private listing? Posted: 22 Jun 2020 07:51 AM PDT (In MI) I'm planning on selling my house soon, and a relative is my real estate agent. I have already been approached by a friend of a neighbor who appears to be very interested in the house. He said that likely the best approach would be to set up a private listing for them, and see how serious they are. But I would think that since I'm the one who found the buyer, I wouldn't need to pay a full 6% commission, is that correct? Having that discussion is weird with family, and I'm not sure exactly how to approach this. [link] [comments] |
| Capital Gains Tax if buy my single owned property (where never lived) Posted: 22 Jun 2020 07:40 AM PDT I am a EU national living more than 5 years in the UK. I don't currently own any property but thinking to buy one (leasehold / apartment) in the UK -although not planning to live there (and rather keep renting in another place -possibly in the same city). If, in future, I am going to sell the property, am I subject to Capital Gains Tax ? [link] [comments] |
| Builder canceled our contract because of being furloughed too long Posted: 22 Jun 2020 07:38 AM PDT We had a home that was finished being built as of April 7th. On the 21st, we were set to close. We were furloughed at the end of March. The builder, mortgage company, and our realtor informed us week after week that the house was indeed ours because we updated them weekly on our employment status. We also told them to call the employers as needed. However, last Thursday, we got a call from our realtor saying that the builder wanted a date by Sunday or we'll lose the house. Knowing we don't have a date, we called up the jobs, and still were informed of an unknown date. Our realtor asked them to reconsider because it's not our fault that we could not close...but she was told that the upkeep and property taxes were costing them too much money. I honestly believe it is for another reason. I believe it is simply to hit quota or some sort of deadline by the end of the June. Am I on to something here or am I just feeling some type of way? Thanks. [link] [comments] |
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