Real Estate: Giving notice to current landlord before close |
- Giving notice to current landlord before close
- Does appealing an appraisal report ever really work?
- LA RA market has me feeling defeated ( $120k over asking!!)
- Is there a consultation you can get before selling without committing to a realtor?
- When to start applying to brokerages?
- How does gift of equity work when buying a home from parents?
- How much more expensive is fha vs conventional loan ?
- (US-CO) Is an HOA allowed to refuse to file an insurance claim for damage they are responsible for?
- Assuming a mortgage.
- house shopping in MI
- Question about first time homeowners
- Fitness determination in Texas
- How Best to Sell Land
- Discrepancy Between Actual Square Footage and Tax Assessor Records
- What do the mREITs do with forbearances repayments after CARE Act expires?
- How hard is it to get an IRRRL at the moment?
- How do I rent a room to a close friend?
- Co-Op apartment building proprietary lease, question
- Buyers Rights to Inspection on New Construction
- Is there any way to find the average listing commission?
- My Homes been on the market for a little under 24hrs and getting a lot of action, expecting offers later this week. What should I welcome and avoid?
- How much does renting an apartment cost?
- Just closed on first House Hack - two units on a lot - and we want to redo the driveway since the sewer line was redone and it’s broken up. Suggestions on whether it’s worth it to upgrade to polished concrete ($3-5 extra / sq ft on a 60 * 11 ft driveway)?
| Giving notice to current landlord before close Posted: 29 Jul 2020 05:39 AM PDT I'm renting in Ohio, and am scheduled to close on a house Though I have not signed a lease renewal in 3 years, a lawyer advised me that the best way to ensure I stay out of court with my landlord is to adhere to the terms of my original lease, which requires 60 days notice. So that would put me at giving notice in 2 days, before we close. My realtor checked with the seller yesterday, and it sounds like there are a couple loose ends What would you do in this situation? My landlord is generally laid back so he may work with me if there is a significant delay, but I'm worried about giving notice before closing. Obviously my landlord isn't legally obligated to be nice to me, so I always like to have my butt covered on this stuff, but I don't want to pay for an entire extra month of rent. [link] [comments] |
| Does appealing an appraisal report ever really work? Posted: 29 Jul 2020 06:55 AM PDT We're selling our house tomorrow and are currently under contract to close on our next home on August 31. Today is the appraisal contingency deadline - and the appraisal just came back at $30k under the asking price (and our offer). I spoke with our realtor this morning and she's flabbergasted by the appraisal. She said the appraiser was a trainee, showed up late and disheveled, didn't bring a phone or camera for pictures, couldn't pronounce any of the street names/wasn't familiar with the area. The house is in a pretty neighborhood and meticulously kept. I know we have pretty limited options. We don't have the cash to make up the price difference (we have a newborn baby due in a month and a half!), so it's basically (1) get the seller to come down $30k, (2) walk away, or (3) appeal the appraisal/order a second appraisal. I could be wrong, but I can't see the seller coming down that much. The house was only on the market a few days and got multiple offers at asking price (we were one of them - our cover letter swayed them). I'm heartbroken because I love this house, the commute, and the neighborhood. And it's a small thing in the grand scheme of everything, but we're currently staying with my mother-in-law - and if we don't have a house by mid-September, the newborn will be born here. Which sucks. Just wondering if appealing an appraisal report or doing a second appraisal every actually works, or if that's a huge stretch. We're going through a local credit union we really like (the folks we used for our first mortgage) so I'm surprised the appraiser wouldn't be familiar with the area, and I'm truly wondering if she screwed it up. [link] [comments] |
| LA RA market has me feeling defeated ( $120k over asking!!) Posted: 28 Jul 2020 12:46 PM PDT Been looking to buy a duplex now for several months and honestly feeling defeated. There seems to be only 3 kind of properties a) Beat up meth shacks that require $100-150k in repairs inside and out b) Overpriced flipped homes with shoddy materials where the seller is trying to make a $200k profit (including renovations) after buying the house last year c) Those rare homes that have a modest renovation done a couple of years ago for a fair price = ABSOLUTELY INSANE bidding war. Out of 100 houses maybe one of them will be decent but every single time there has been a bidding war. The last one the person got over 30 offers and sold for $120k over asking price. For reference I'm in my mid 30s stable, excellent income, able to put 20% down payment, prequalified and a credit score over 800. [link] [comments] |
| Is there a consultation you can get before selling without committing to a realtor? Posted: 29 Jul 2020 07:28 AM PDT My mom is elderly and moving in with one of us. Her house is in pretty poor shape, but the location isn't bad since we've had it for decades and Austin's grown so much it's kinda gone from North Austin to central. Is there a way to figure out what we might get as is, whether to remodel, what to remodel, etc. without committing to a realtor yet? [link] [comments] |
| When to start applying to brokerages? Posted: 29 Jul 2020 05:52 AM PDT Hello everyone, I am working on getting my Real Estate Sales Agent license right now. I live in Texas and have only completed 30 of the required 180 class hours. I have done as much of the other requirements as I can, send in an application, get fingerprinted, etc. I don't want to waste a brokerage time or my time but when is a good time to start applying to brokerages? Is there any benefit applying early without my license or should I wait until I have that? [link] [comments] |
| How does gift of equity work when buying a home from parents? Posted: 29 Jul 2020 08:03 AM PDT My parents said they wanted to give us the home at $100k under the market price, but then their google search yielded a (California) rule that says they can only give a maximum "gift of equity" of $30,000. Does this sound right? Also, I dont think I need a massive downpayment because I'm eligible for the $0 down VA Housing Loan, which the article said the hypothetical $30,000 would go towards. I'm trying to determine if they can legally sell me the house for $100k under the market price. [link] [comments] |
| How much more expensive is fha vs conventional loan ? Posted: 29 Jul 2020 01:39 AM PDT How much more do you spend up front and how much more a month, in general. Looking to purchase a 200k home but am still saving up for a down payment. To me it sounds like I would save more money in the long run if I go conventional and not pay the premium for fha. So what would you estimate the difference monthly is with fha vs conventional [link] [comments] |
| (US-CO) Is an HOA allowed to refuse to file an insurance claim for damage they are responsible for? Posted: 29 Jul 2020 08:31 AM PDT I had some water damage at my Condo due to a faulty valve inside the wall. My personal insurance has "loss assessment" coverage which, as my adjuster explained to me, covers up to the HOA's commercial policy deductible. All repairs and restoration work comes to ~$8k and I have $5k of loss assessment. This means my insurance will pay $5k and the HOA's policy should pay the rest. The issue is that the HOA is not willing to file a claim for this small an amount, even though their commercial policy deductible is $5k. Is this legal? Can I go around them and file a claim directly with the insurance carrier? What is my recourse here? [link] [comments] |
| Posted: 29 Jul 2020 08:11 AM PDT Hello!! My wife and I are in the process of buying a house. After a long month and a week before closing, we found out the seller won't have the cash for their closing. Their agent has been incompetent the whole process that our broker has been working with both parties. The sellers are obviously going through an economic hardship. They won't be able to do a short sale neither due to insufficient funds. So it sounds like foreclosure. The house is 2 years old it's in top shape. We just terminated the contract. This house was perfect and a really good deal in Manor Texas (currently rent in Austin). The broker said the only other way would be to try to assume the mortgage. She was going to get the mortgage balance from the seller's themselves before we did anything. Our broker definitely has our best interest so I'm not worried about her pushing us. We talked about it briefly to not get our hopes up since we didn't have the balance. They wanted 265k but we managed to lower it to 240k. 3000 sq ft. My question is how does this work? Could we refinance it with our current lender? If we offered less than actual balance what then? Is it possible in Texas, I've heard some states don't allow it. Do we have to pay both agents commissions? Thank you I'm advance!!! [link] [comments] |
| Posted: 29 Jul 2020 09:26 AM PDT I am beginning my search to purchase a home. I had a realtor recommended and reached out to her, once I told her I wanted to use my VA loan she stopped responding. rude. So, now I am also shopping for a home AND a realtor. I am currently in a lease that ends in mid Sept. My questions are, is it feasible to want to purchase a home prior to lease end? Do I take shopping slower and renew my lease for 3, 6, or 9 months? How do I find a good realtor, or do I just take a chance and go with one of the big name groups like remax etc? [link] [comments] |
| Question about first time homeowners Posted: 29 Jul 2020 09:09 AM PDT My fiance and I are currently looking to purchase a home. That being said, I currently own the house we live in. Again, not married and everything is solely in my name. I know that if we sold and then purchased everything under her name for the next house, she would qualify for first time buyers, but would she still be able to if I was listed as a co-buyer? The only reason I would want to do that is because she only makes about $15/hr and I'm concerned she won't qualify for enough to purchase the house we want. She has flawless credit and the house is only $130k and she would do an FHA loan. Any thoughts? [link] [comments] |
| Fitness determination in Texas Posted: 29 Jul 2020 09:08 AM PDT I would like to get my real estate license for Texas but I have a DUI from 2017. I filled out the Fitness Determination form and sent it along with $50 to TREC. Just got an email requesting a lot more forms that I'm no even sure I can get. Should I jump through these hoops and postpone the pre licensing course? Or do y'all think that I should be fine to go ahead and buy it and eat the $50? [link] [comments] |
| Posted: 29 Jul 2020 08:35 AM PDT Currently attempting to help my mother sell a large plot of wooded land in the mid-Hudson Valley area. Specifics: - plot is 100% undeveloped and wooded - road access on two sides to nearby housing developments - plot is 80 acres in total - views to NW of the valley below (once cleared) - ~1/2 is plateau/level and half is varying degrees of gradient Ideas I've considered so far: - standard real estate listing - direct networking with developers - listing for auction - donating to conservatory - just throwing in the towel and ceding it to the state I'm primarily interested in advice on the various merits & drawbacks of the approaches above or others I haven't thought of. For example, here are my thoughts so far: - conventional real estate is for houses, not land - developers are hard to reach - auction has no guarantee return and possibly high fixed costs - don't want to just give up, but tax bill is a burden This post is a request for advice, not a listing. The details above are only what I think will help give context for strategic advice. If you're a prospective buyer/agent, please DM me so we can take the discussion offline from here. [link] [comments] |
| Discrepancy Between Actual Square Footage and Tax Assessor Records Posted: 29 Jul 2020 08:23 AM PDT House has substantially more area than what's recorded on assessment. It might be an assessor error. What is new buyers liability for back taxes? [link] [comments] |
| What do the mREITs do with forbearances repayments after CARE Act expires? Posted: 29 Jul 2020 06:10 AM PDT Below is my condensed notes and understanding of the CARES Act (sourced from here) in relation to renters/mortgage owners and forbearances/foreclosures/evictions:
I am not a lawyer, so if I am wrong about some of these statements I will correct them. Attached to this link are the stated repayment terms for 12 listed banks. It is my understanding based on the terminology used in the Act (Section 4022(c)(2)) that a servicer also has the capability to foreclose/evict tenants/delinquent owners. Is this true? And if so, it seems to me that their terms to repayment may well be the single largest contributing factor outside of the Fed and Congress that determines how bad this financial recession will be for everyone, real estate included. [link] [comments] |
| How hard is it to get an IRRRL at the moment? Posted: 29 Jul 2020 07:31 AM PDT The broker I used to buy my house (VA Loan) was great with our purchase two years ago. So when rates went down, I wanted to use him again for an IRRRL refinance. He's been responsive to my emails, but basically telling me he's got a huge backlog of people waiting, and quoting me refinance rates that are higher than what I'm seeing from other people. Is this the norm everywhere, or is my broker just dragging his feet? The lender is SunTrust - they service their own loans so the little voice in the back of my head is wondering if he's dis-incentivized to refinance me at a lower rate. The latest quote for 30 year IRRRL from him was 3.3% (if he could actually take my app, which he can't currently) [link] [comments] |
| How do I rent a room to a close friend? Posted: 29 Jul 2020 04:54 AM PDT Looking for advice on how to rent a room to a friend. Do I charge a fixed amount every month or should gas/water/internet/electricity be split after a base rate? Should I make him sign a contract of some sort? He is a great friend and won't deliberately push it but I wouldn't completely put it past him to show up with a big fish tank on short notice or something. How can we set up house rules and what we expect from one another? Just looking for advice/pitfalls to avoid when renting a room to a friend. We could just wing it, but I'd like to mitigate the inevitable tension that comes when people move in together. [link] [comments] |
| Co-Op apartment building proprietary lease, question Posted: 29 Jul 2020 03:38 AM PDT Normally, does a Co-Op corporation have a separate proprietary lease (with different terms) for every tenant/shareholder? or is there one master proprietary lease for every tenant/shareholder? [link] [comments] |
| Buyers Rights to Inspection on New Construction Posted: 28 Jul 2020 09:38 PM PDT Hi, I recently informed Lennar that I want to do an independent home inspection at key stages of the building process. Someone told me this is within my rights as a buyer. Is this correct? I don't know if Lennar would push back. Want to know if they can prevent me from doing this. We already signed the purchase agreement so maybe I am too late in asking for this. Thanks for your input! [link] [comments] |
| Is there any way to find the average listing commission? Posted: 29 Jul 2020 08:31 AM PDT In MLS, I'm able to search and see what the selling agents made, but not the listing agent. I'm trying to get info on what percentage of listings are now 1% listings. I see that the selling agents in my market are frequently getting 2.5% instead of 3% now, and I'm curious if there's been a current trend upwards for 1% listings. [link] [comments] |
| Posted: 28 Jul 2020 06:28 PM PDT |
| How much does renting an apartment cost? Posted: 29 Jul 2020 07:33 AM PDT I'm only 17 at the moment, so I'm not looking for anything yet, but in the next few years for college I'd like to rent my own place etc. since, well, I really want to lol. How much would a 1br apartment cost? The main thing I'm looking for is how much itd cost per month, on average. Also, if you're renting a place, do you have to pay for utilities like water/electric typically? The info would really help. Also, South Jersey is the area if that helps. [link] [comments] |
| Posted: 29 Jul 2020 06:20 AM PDT |
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