Real Estate: Must-haves and Must-do's for first-time home buyers post-closing? |
- Must-haves and Must-do's for first-time home buyers post-closing?
- It’s 2020. Coronavirus is here. Is a house less valuable if you and everyone else in town aren’t able to get reliable access to internet?
- What are my option on loans.
- Redfin estimates skyrocketing a couple days before offers due
- Need a SAVIOR for my mortgage nightmare!!
- Illinois deed question (cook county)
- House is listed both for rent and to buy. Which one do owners typically prioritize?
- 3 homes for sale in our neighborhood and we’re about to list ours, are we screwed?
- Roof joist crack in garage, how to fix & estimate
- Non-permitted addition in-law suite
- Refinance Lender Recommendations
- Getting house ready for sale
- Sex offender recently purchased a home in the neighborhood.
- Queens, NYC - real estate lawyer and home inspector recommendations?
- Buyer using VA loan and I don't like the request.
- Looking for advice for a house fire
- [TX] Put in a contingency offer, seemed fine at first but now it seems like it's off
- Home inspection contingency in super hot market
- Can I take out more money then the home is worth to do the remodel?
- 20% deposit on a house and where does the 80% comes from?
- About to list and the AC just shit the bed...
- How can I find out if someone died in my house?
- Buy now or ...wait?
| Must-haves and Must-do's for first-time home buyers post-closing? Posted: 11 Jul 2020 08:19 PM PDT First-time home buyer in Florida here. Scheduled to close at the end of July. I'm starting to compile a list of things I should do, should have or should set up as a first-time homeowner post-closing (through the first year of home ownership), whether they are one-time actions or recurring services or plans. What do you see missing from this list? I have a lot of available credit, so I'm not sure if I'd really need a Home Depot or Lowe's credit card. Also, I'm not really much of a DIYer (lifelong renter here) and the house is in great condition so I'm not planning on any of those regular post-closing projects like repainting or remodeling anything in the house, because it's in great condition and I like the way the sellers have everything set up/decorated.
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| Posted: 12 Jul 2020 07:35 AM PDT My partner and I are seriously considering putting an offer in and purchasing a house just outside a small town and slightly outside a larger city the U.S. Midwest, where we are from. It hits almost every box for us, and we love a lot about it... except yesterday at second showing we asked who the internet service provider was. After some digging and lots of calls, we discover the only ISP to that address is the local small town company currently servicing the address who charges $80/month for up to 20mbps. Not even considered fast enough to be called broadband. Looking at their Facebook page, they have frequent issues with outages and a lot of unhappy customers. They basically have a monopoly in the area with no change in sight. It also puts the town in last place by a huge margin for high speed internet access in the ENTIRE (fairly large) STATE. We both work remotely. This is a $500k house (would be our first). We would pay for all of it with money we make online. We have family who lives 20 minutes away in the nearby city that have brand new fiber. We are worried that this new town will not budge on letting new ISPs in and dry up, lowering our property value. We also deeply feel this lowers the value of the property - it's basically a public utility at this point that we wouldn't have reliable access to. Our agent says she's never heard of anything like this. Since we do have family nearby and cell service is really good there, we would be able to work around it. But it's enough of a pain and worry to be worth a good chunk of money us. We would like to offer 20k lower than our original starting offer almost exclusively because of it. Are we crazy? Or does this actually significantly lower the property value? Has anyone working in rural or non-rural states had something like this come up? Would really appreciate any insight since it's our first time home buying. Thank you! [link] [comments] |
| Posted: 12 Jul 2020 07:55 AM PDT I purchased my first home for 400k, I put down 20% I would like to do about 75k worth of construction on the house as it needs updates. Have about 80k in 401k plan. What other financial option do I have? [link] [comments] |
| Redfin estimates skyrocketing a couple days before offers due Posted: 11 Jul 2020 02:05 PM PDT Is Redfin trying to artificially create bidding wars and pump the real estate market? We've only recently started house hunting, and I thought I noticed this phenomenon before, where the Redfin estimate would pop a couple days before offers were due after the first open house. But this time I actually recorded numbers to verify that it was happening. House 1: Listed for $494,900. Redfin estimate was $494,000. House 2: Listed for $397,000. Redfin estimate was $397,400. Both houses have offers due by Monday. After getting back from open houses today, we noticed the Redfin estimate for House 1 had jumped to $512k ($18k or a 3.6% increase). House 2 similarly jumped, up to $417k ($20k or a 5% increase). [link] [comments] |
| Need a SAVIOR for my mortgage nightmare!! Posted: 12 Jul 2020 09:49 AM PDT New to Reddit so ill just do point form to try and save you guys the reading; -Bought a house with a friend (I know, bad idea) put down the down-payment myself -Other guy moved in when I moved out, pays rent to my co-owner (700 a month) -Co-owner hasn't vacuumed/maintained since I left so I pay a cleaner to go in every 2 months -didnt pay the utilities and left them in my name (2k) -didnt re-up the insurance for 2 years, when I found out I paid for it -invested 10k in garage and basement (no help) -Vast amount of incidental expenses but let's just summarize, I'm basically his handler as he's too lazy to do anything -House is worth 400k and we owe 330k. Not enough for remortgaging conventionally -He makes good money and I believe has good credit -He didn't tell me of a need to resign the mortgage until I had to bail him out as we are at 7.2% on an open mortgage. Got approved to go 2.4% variable but held off in hopes there is more options if the mortgage is open. Goal: get 25k-35k out and just walk away. If you made it this far, thank you, soo much. If you have any solutions or ideas even more so. Cheers! [link] [comments] |
| Illinois deed question (cook county) Posted: 12 Jul 2020 09:35 AM PDT I have a deed question. Currently my parents (mom and dad) and myself are on a warranty deed ( i believe this was the type of deed when we closed in 2005) My parents want their names to come off the deed and leave me on the deed solely. Is quit claim the easiest way to do this? Any suggestions? I googled it and it seems like quit claim is the best way but just wanted to make sure. Any tax implications if i do this since I am on the deed already? Property is paid off in full already. [link] [comments] |
| House is listed both for rent and to buy. Which one do owners typically prioritize? Posted: 12 Jul 2020 09:23 AM PDT A house we are interested in renting is also listed to buy. It is Los Angeles County, condo at $750K, has been on the market 8 days and still active, and is listed for $10K less than they bought it for in 2018. We applied on Friday, and am wondering if they are going to try to wait it out for interest in buying before approving our application. Is this situation common to find? Is there a general preference for an owner wanting to sell vs rent? Is there a way I can find out who has submitted offers to buy? [link] [comments] |
| 3 homes for sale in our neighborhood and we’re about to list ours, are we screwed? Posted: 12 Jul 2020 09:15 AM PDT Our neighborhood is all townhomes. We are planning on listing our place by the end of the month. Currently there are 3 townhouses listed. We also believe there will be 2 more listing soon... for a potential total of 6 units within the same block probably before August. I know this will bring competition in our very small market but I'm concerned it's going to signal to potential buyers that something is wrong with the neighborhood. Or is it not that unusual to see a few places for sale in a densely populated neighborhood? Am I just being paranoid or are my concerns valid? [link] [comments] |
| Roof joist crack in garage, how to fix & estimate Posted: 12 Jul 2020 09:02 AM PDT I'm looking at the inspection report for a house that I'm interested in. It shows a cracked roof joist in the garage ( https://imgur.com/p05o7Ii ). No cost estimate was given, just say to contact licensed pro. I have no clue about construction, but after watching youtube, saw that some people fixed it by sistering a board to the problem area. So for anyone having experience with similar things:
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| Non-permitted addition in-law suite Posted: 12 Jul 2020 05:14 AM PDT I'm looking at a property in Tampa, FL that is being sold as-is, repairs are needed and there is a non-permitted detached 1/1 in-law suite. What due diligence do I need to do for permitting issue? Will have a to demolish the addition or pay the county fees? [link] [comments] |
| Refinance Lender Recommendations Posted: 12 Jul 2020 08:47 AM PDT My wife and I are looking to refinance for the first time. We bought a house in fall of 2019 in North Carolina with a 3.625% interest rate (we have 760+ credit scores). It seems like rates have been going even lower since then. I'd like a lower interest rate but also want a small payback period if possible (minimizing closing costs). I've heard online lenders are good for that and I don't mind doing it over the computer if it's not a scam. Does anyone have any lender suggestions? If you refinanced with them recently, what rate and closing costs combo did you end up with? Thanks! [link] [comments] |
| Posted: 12 Jul 2020 08:47 AM PDT Above is our house, it didn't sell in one of the hottest real estate markets our there despite cheaper than comparables. I got tons of feedback that our color and finishes are a huge problem. So we are going to start tackling them over the next year. Some things we know to change: Curtains Needs Staging/good wall layout Needs painting that's not white Remove all shelving Add drawer pulls Better camera angles Things we are looking to do: Replace flooring on the main level with vinyl that looks like wood Replace countertops Replace furniture/TV stand My questions are: Since my cabinents are stained, how hard would it be to change the color Can we keep the carpeting in the stairs and upstairs (it's a medium brown) Can we keep the vinyl in the upstairs bathroom and laundry room? Should we replace the flooring on the main level powder room? If we cannot change the cabinents color, what color flooring and countertops do you recommend? If we can change the cabinents colors, can we go white/grey without clashing with the carpeting going upstairs? Would doing a semi finished basement with a full or partial bath return good money? [link] [comments] |
| Sex offender recently purchased a home in the neighborhood. Posted: 11 Jul 2020 03:30 PM PDT Anyone have any insight on how this might change the current pricing of the nearby homes? [link] [comments] |
| Queens, NYC - real estate lawyer and home inspector recommendations? Posted: 12 Jul 2020 07:12 AM PDT We just want to have more options than the ones our realtor is recommending. Also, any warnings from ones to avoid. TIA! [link] [comments] |
| Buyer using VA loan and I don't like the request. Posted: 11 Jul 2020 09:31 PM PDT I am in the final phases of a deal on selling my house and the buyer is using VA. The house is on a road not owned or regulated by anyone but one resident maintains it with his machinery from time to time and people wil often give him gas money. The VA wants there to be an actual "agreement of road maintenence in exchange for monetary like an HOA. They want me to ask the gentlemen who does road work to be the one to sign off as the maintainer of the road. I am not a fan of this because I don't want to drag him into something he is not apart of and I don't want the buyer to have unreasonable expectations of someone who is voluntary anyway. I told my agent that we would have to have a seperate signed agreement saying that the buyer is not to bother this man and he would only be signing off dor the sake of the loan to go through. What are other's thoughts on this? [link] [comments] |
| Looking for advice for a house fire Posted: 11 Jul 2020 11:59 AM PDT A couple of weeks ago my house nearly burned down. Every one is safe, no one was injured. There I was working from my parents house thinking everything was going well with my remodel. Around 10:30 I received a flurry of voicemails and text messages. The house was on fire. By the time I got there the fire had already left and it was just the electricians and my contractor. My electrician (ironically) was installing smoke alarms and carbon monoxide detectors. They went to flip a breaker and check their work when they heard a spark. Rushing back in to the attic they attempted to put out the fire but it spread to quickly. I am working with my insurance company. My big concern is making sure I maximize my benefits during this time. Any advice? [link] [comments] |
| [TX] Put in a contingency offer, seemed fine at first but now it seems like it's off Posted: 11 Jul 2020 08:11 PM PDT From the start my agent made it known to the listing agent that the offer would be contingent on us selling our house. We go back and forth on price and come to an agreement. The contract is sent over and we don't hear from the listing agent. The next day we get a call telling us the new house has another offer and that the sellers don't like the contingency and would we reconsider it. However, without it we could be out the earnest money if our house doesn't close. So, if you have a better offer, why even bother telling us? Why not just say we're taking the better offer and move on? [link] [comments] |
| Home inspection contingency in super hot market Posted: 11 Jul 2020 05:58 PM PDT How do people here feel about putting in an offer with no inspection. I'm in a super hot market where houses have a day or two of showings and take best offers the next day. Have a house i really like and I know someone will probably come in with an offer with no inspection. I'm aware it's usually a terrible idea to make an offer with inspections waived. Is there any good ways to make a competitive offer but still protecte myself with getting the house inspected before purchasing. The house looks immaculately maintained and recently updated but it is 40 years old and looks like the roof could be in need of replacement in the near future. [link] [comments] |
| Can I take out more money then the home is worth to do the remodel? Posted: 12 Jul 2020 04:31 AM PDT The only homes in my area that aren't grossly inflated in price are the ones that need extensive work. I don't have too much cash on hand past a down payment and closing costs. Is there anyway to take out more money then the buying price to do all the work that needs to be done in terms of updating it? [link] [comments] |
| 20% deposit on a house and where does the 80% comes from? Posted: 11 Jul 2020 11:43 PM PDT Hey there, Apologies for my language, I'm not a native speaker. I was just scrolling through my instagram feed and saw a post, it goes something like this "Suppose I buy a house valued at $250000 and I have to deposit 20%(50000) on the house to acquire it. Now I rent it and excluding all expenses, I get $1000 per month. Then I dont have a ROI for 50 months. Now suppose you borrow the $50000 for the deposit and enjoy immediate ROI..."something like that. My question is if I make a 20% deposit, where does the other 80% comes from? I dont know if this is googlable or I just can't type the appropriate query. [link] [comments] |
| About to list and the AC just shit the bed... Posted: 11 Jul 2020 04:49 PM PDT I met with an agent last week and decided to sell our house. She did a walkthrough and put together a price proposal, yada yada. We were planning to go live in the last week of July and..... my air conditioner just died. Actually, it died last week and we had it serviced. It's a 30 year old unit. They patched up some leaks and topped off the coolant. Four days later and it's doing the exact same shit. Now I'm SURE it needs to be replaced. My question is, do I have the work done and talk to my agent about pricing it in? She already wanted to price $5k over the zestimate. If this were a buyers market I would just pay the $3k for a new AC and call it a selling point, but this ain't no buyers market. Should I really press my luck and just disclose it and dare the buyers to say something? [link] [comments] |
| How can I find out if someone died in my house? Posted: 12 Jul 2020 03:06 AM PDT I was told that my the owner that bought the house after my family sold it like 10 years ago died in the house not long after. I don't have anyone to confirm that. I don't have any details besides the address of the house. Tried to google and got nothing. Is there a website or some resource that can be used to find the answer? House was located in NY if that helps. [link] [comments] |
| Posted: 11 Jul 2020 08:53 PM PDT What's your thoughts on real estate, buy now or wait? And if "wait" until when?! We've been looking on and off for several years. We finally found a townhome we could see ourselves in. They were asking $599k. Majority townhomes in that complex sold for $500k within the last 12 months. A handful sold for $550k HOA $500/m not including elec. We were shown the townhome next day after it was listed and they already had an offer. We made our offer (waiving several contingencies). Deadline was 5 days after unit was listed. Within 2 days they had 10 offers. Several of which were above asking so, as you can tell, we didn't get it. Most units are overpriced and go into escrow within 1-3 days of listing. Any advice that we sit this one out? And for how long? I'm afraid we'll get priced out of the market if we wait too long but it's hard to believe those prices are reasonable. In my state, home value almost never go down... [link] [comments] |
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