Real Estate: Sacramento CA crazy seller conditions |
- Sacramento CA crazy seller conditions
- Home inspectors of Reddit, what are some quick signs you see when walking into a house that makes you think the constructor cut corners?
- 30-year fixed mortgage rate falls below 3%
- Pros and Cons of owning multi-unit complexes?
- Options for international Lot Sale
- What needs to happen for inventory to free up? Pandemic to end? Significantly higher rates? Something else?
- Post-Home Inspection Negotiation: Found discrepancy
- Crazy market - what are my options?
- If i have rented in the past, does that show in the background check for a new rent ?
- Opinions on listing in VA
- Earnest Money Check Never Cashed
- Can I go to viewings of houses without telling my agent anything?
- [NJ] Why accept an offer with an FHA mortgage contigency when you know your house won't pass the inspection and you refuse to make repairs?
- Strong ethnic community needs guidance in quickly appreciating property market, how to best organize and change (US-NJ)?
- Negotiating with landlord to allow a small pet dog
- Worth converting commercial to residential?
- Is it possible to buy a house with a little land under $100k within 1 hour of NYC by car that’s not completely “in the sticks?” If so, where?
- Should we call to check up on our rental application?
- How much value is added from rewiring a home?
- What are my options for refinancing a rental property? (DC)
- Rental Advice
- Selling Investment Prop to Friend, Who's Also my RE Agent
- Should I Continue to Rent and Buy Early Next Year?
- Comision split with buyer?
- Appraiser wants us to convert workshop back into garage
| Sacramento CA crazy seller conditions Posted: 16 Jul 2020 09:45 PM PDT I just thought I'd share an, um, amusing (?) set of seller demands we encountered after viewing a cute 3/2 1400 SF single family home with a nice backyard and 7,000 SF lot listed for $365k. The sellers have the following crazy conditions: - can only finance through a specific loan officer they know at their bank - no contingencies at all - buyer pays cash difference between offer and appraisal - free rent back with indefinite schedule / no clear end date It was cute...but not THAT cute. This just seemed nuts. [link] [comments] |
| Posted: 17 Jul 2020 05:55 AM PDT |
| 30-year fixed mortgage rate falls below 3% Posted: 17 Jul 2020 07:23 AM PDT The bottom has yet to be reached as mortgage rates achieved a new low for the fourth time in the past five weeks. According to the latest data released Thursday by Freddie Mac, the 30-year fixed-rate average tumbled to 2.98% with an average 0.7 point. (Points are fees paid to a lender equal to 1% of the loan amount and are in addition to the interest rate.) It was 3.03% a week ago and 3.81% a year ago. Since November 2018, when it was 4.94%, it has fallen nearly two percentage points. The 30-year fixed rate is at its lowest level since Freddie Mac began tracking mortgage rates in 1971. It surpassed the previous low of 3.03% set last week. This is the seventh time the 30-year fixed rate has fallen to a new low in the past several months. [link] [comments] |
| Pros and Cons of owning multi-unit complexes? Posted: 17 Jul 2020 03:37 AM PDT In this instance, I am using Multi-Unit Complex to describe 4-6 Units. The environment is Urban, with a 10-15 Minute commute to the Downtown region. What are some Pros and Con's faced when RENTING units. Things you learn from looking in hindsight. All answers are welcomed and appreciated, I am looking to purchase my first Quad-Plex. [link] [comments] |
| Options for international Lot Sale Posted: 17 Jul 2020 08:48 AM PDT I have a lot in Costa Rica located in a prestigious zone, the lot is about 3800sq meters, a little less than that. And we've had no luck with local buyers since they are only eager to give us less than 50% of the value in cash and the other part in properties. We're looking to get at least 80% of the value in cash and the other part in assets. Any advice on international investors or buyers would be appreciated. [link] [comments] |
| Posted: 16 Jul 2020 10:30 AM PDT |
| Post-Home Inspection Negotiation: Found discrepancy Posted: 17 Jul 2020 09:44 AM PDT Hey all, First time homebuyer here. The inspector found a couple of small issues in the house, but my biggest issue was that the electric going into the home is only 100 amps. Inspector found no signs that a sub panel exists. In the seller's disclosure they claimed that it was upgraded to 200 amps. Is this something I would be able to negotiate for the seller to install? The panel supposedly being 200 amps was one of the reasons why I even put in an offer on the home, built in 1960. Thanks. [link] [comments] |
| Crazy market - what are my options? Posted: 17 Jul 2020 06:22 AM PDT Hey all! After 2 rejected offers not coming even close to be the winning offers (in Montclair, NJ), my wife and I have started to discuss the options. We were looking for ready to move houses and we thought our ceiling was aligned to what the market was paying. However, all rules seem to have gone out the window with COVID-19 and even after putting offers 20% over the asking price, people is going higher. We now are starting to consider houses in a not so ready to move state. Yesterday we saw one with great potential but we would need to remodel the kitchen, add a bathroom to the second floor, add central a/c, remodel 2 out of 3 existing bathrooms, finish the basement and maybe add a garage (whew...). Our realtor seems very knowledgeable and she has offer some example budgets - (e.g/ $40k for the kitchen, $25k to add the bathroom, $15K to remodel each bathroom, $30k to add central a/c) but obviously these are more guesstimates and I understand it will depend on how crazy we go (I think we would probably go mid-range on everything). The problem is that we don't know where to start, or even how a remodeling project works. A few questions come to mind: - How does this process work? [link] [comments] |
| If i have rented in the past, does that show in the background check for a new rent ? Posted: 17 Jul 2020 07:42 AM PDT |
| Posted: 17 Jul 2020 03:48 AM PDT We're trying to move out of a townhouse and into a single family home in northern VA. The wife wants peace, quiet, and privacy with a yard. I know the obvious things looking at this listing. 1. It's a lot of mowing (compared to now in a townhouse), which I'm going to have to do regardless of where we move since that's one of the wife's preferences. 2. Pool and hot tub, more cost/time Are there any other downsides I'm missing other than these? I'm wondering why it's still on the market after 10+ days. We're just about to start looking actively to buy. Any ideas? Listing: https://www.redfin.com/VA/Manassas/10013-Bent-Tree-Ln-20111/home/9196531 [link] [comments] |
| Earnest Money Check Never Cashed Posted: 17 Jul 2020 09:45 AM PDT Hello. Strange question. We closed on our house a month ago, but our earnest money check we sent when we made the offer in late April was never cashed and still has not been cashed. On our purchase agreement, it listed the earnest money as a part of our down payment. I asked our relator about it and the Title Company about the fact that we still have the money in our checking account. Our relator said it isn't her responsibility to ensure that their relator cashes the check/puts it into escrow. Obviously, I don't want to assume we are just free and clear, but I don't know what else to do. What should I be doing, as I don't want this money hanging out in our account forever if it will eventually be cashed. Thanks. [link] [comments] |
| Can I go to viewings of houses without telling my agent anything? Posted: 17 Jul 2020 09:42 AM PDT I find it a bit annoying that I have to tell someone about a house I want to view so they can schedule it for me, when I can do it myself. Can I just schedule the viewings myself without my agent being there or knowing? [link] [comments] |
| Posted: 17 Jul 2020 09:40 AM PDT Asking for my sister in law: She put an offer in on a house that was listed "As-Is". I haven't checked her contract, but according to her, they specified FHA mortgage in the mortgage contingency. Later, they were asked to sign an Addendum that the seller would absolutely not be making any repairs (prior to FHA appraisal and inspection). They also came back with additional disclosures regarding water in the basement (FHA red flag). I shot my wife a look when I heard this, and didn't want to say it in front of my sister in law to upset her, but I told her later this deal very well might be dead in the water with that disclosure. They've been given an estimate (by whom, I do not know) of $800 for the needed repairs to qualify for FHA. It seemed low to me for water in the basement, but she said something about broken downspouts and extending them away from the house. The seller isn't budging, and wants them (the buyers) to do the repairs before closing. Both I and their attorney recommend against it, their agent is not advising, relying on the attorney. My question is this: do the seller and their agent hold any responsibility for accepting an offer and signing a contract they knew could not perform? The buyers have already put out $1100 towards the transaction. I know they likely don't have much case for reimbursement, but I think they should lean on the seller anyway ("Well, it's $800 in repairs or $1100 to make us whole), obviously in a way that doesn't qualify as extortion. [link] [comments] |
| Posted: 17 Jul 2020 09:34 AM PDT I grew up in the Pakistani American community in downtown Jersey City. Our neighborhood is by the highway and is quiet and isolated from the massive high rises in the rest of downtown with easy access to some of the few greenspaces, public swimming pools, tracks in this area. The majority of the neighborhood is Pakistani American followed by Filipino Americans and East Asians What's prompted a lot of concern in the neighborhood is a 12k+ community being built where projects were demolished across the vicinity a few blocks up. This would induce a lot of noise and road traffic through the community. As our section of downtown gentrifies we also notice a ton of what are closing public spaces (swimming pool and track at local high school are no longer accessible like when I grew up there) Also a lot more loitering/food carts being parked overnight from out of neighborhood residents. Weird people at odd hours. Some of us like ethnic restaurants/groceries and don't like the $8 for a latte and iceberg lettuce yuppy developments. My question is 1) how can a community become incorporated into its own community, with let's say gates. Is this an option? I imagine it would have to be unanimous 2) A lot of the plots are standard and taxed but it's like half the plots are townhouses and your townhouseand you're connected with others. People ideally want their own house. Is there a way the city could petition doing this if all of the connected townhouse owners agree? What level of agreement would you need (ie it would have to be anonymous) What are some concerns a community SHOULD have to help appreciate their home prices and maintain a sense of community in a rapidly building town? And a QOL If 10 people in a street want to do the above, what role could a construction firm play? Ie better layout, planning ,prices. Who would handle such negotiations, a firm, the 10 people between their neighbors, legally? This is a VERY tight family community that can SHOW up at city hall if organized better. Usually our central meeting place is a closeby mosque. Tips on organizing a community that is half first generation emigrants? [link] [comments] |
| Negotiating with landlord to allow a small pet dog Posted: 17 Jul 2020 09:24 AM PDT So my partner (m29) and I (f25) moved in to our current place Nov 2019 and has been going great so far. We love our house basement apartment and we really like our landlords as well - they are a couple in their 30s with a pug. We have a super chill relationship and get along well. When we first moved in, he mentioned that no pets because they do not know how their pug will react. Form living here and what we've heard from down in our apartment, their pug does like to bark when she senses new visitors but out of curiosity and not aggressively - she always comes up to me to pet her when I see her. But my partner and I really want to yet our own considering that he will be working from home till next summer and I work from home twice a week so we have plenty of time to be with our future dog. Can i get advice on how to talk to my landlord about it? We plan for a small French bulldog if it helps. We have wooden floors, no carpet and I don't think they hear us too much down here if they're worried about barking. Suggestions? [link] [comments] |
| Worth converting commercial to residential? Posted: 17 Jul 2020 09:22 AM PDT Is it worth the investment long term to convert a commercial office space to a residential? It seems like the rental market for commercial is rather difficult now. [link] [comments] |
| Posted: 17 Jul 2020 09:21 AM PDT Hi everyone! I'm curious to know if such a place exists. I imagine we'd be talking about NJ, PA, NY, CT - but I can't seem to find an area that fits this description. Naturally I take that to mean there is no such place, but I figured I would turn to the experts here to see if there's someplace I might have missed! I've seen places like Trenton (which doesn't exactly check the "land" box as most houses there are row houses) and the Pine Barrens (which often seem to be so rural that there are no food stores/restaurants nearby), but wondering if there are some other places redditors can think of. I'm not expecting acres of land here, but maybe a yard and a place to park a vehicle that's not the street. (Lastly, while I welcome all who care to comment, please refrain from comments about how the budget is too small - this is not a question of what I can afford, it's simply a question of whether such places exist and where they might be. Thank you!) [link] [comments] |
| Should we call to check up on our rental application? Posted: 17 Jul 2020 09:07 AM PDT My partner and I applied early in the day on the 14th for a mobile home in our area. None of our references have been called yet, but the manager DID say it could be up to a week before she sends it in for a final decision from the owners. We're just a tad antsy to see if they have already decided not to rent to us, and just haven't said anything. We are both twenty, so younger renters, with our only rental history being from renting a room from family for three years through a very casual agreement. This didn't seem to be a problem when it was brought up, aside from the small mention that there is always some risk with renting to young people in general. The manager did point out to us that her grandparents own the place, and they usually take into account her feelings about having to rent to certain people. She included that she didn't see any red flags with us, and showed us the inside of the mobile home. I'm know a wait is normal, even up to the full week, but she did also say that there were 25 others who emailed her about it, so I'm worried they may be looking at another applicant more seriously. I want to show that we are worth the risk. However, she followed that up with "it's first come first serve, and I don't handle rentals on the weekend." We were there first thing when they opened at the beginning of the week (listing was posted right before the weekend started, no one else would have had a chance to turn anything in) with filled out applications, verification of work hours, the last 2 months of bank statements for proof of income, and $50 in hand for the application fees. We made sure to let them know we have the money on hand for first month's rent and deposit, and she said that was good because money definitely talks. We want to know, all things considered, if it would be too pushy just to give a brief call to check in and see if they need anymore information from us. We figure it would be less pushy than "are you done with our application?" while still showing that we are seriously interested and waiting to hear back. From the first inquiry to now, we have done our best to show that despite our age, we are responsible, organized, hardworking, and respectful individuals who are taking this entire process very seriously. Would making a brief call just to follow up and ask if they need any additional information seem impatient, or ruin our chances? Or will it show that we are interested and trying to keep in contact to show that? Tyia! [link] [comments] |
| How much value is added from rewiring a home? Posted: 17 Jul 2020 09:00 AM PDT I bought this home in Jan of 2019. Listed it a few weeks ago, and it was on the market for less than three days before we received 3 offers, two were for full asking price, $225k. We are under contract and the inspection came back and the insurance company is saying that the cloth electrical wiring needs to be replaced before the deal can go through. Apparently, this issue should have come up when I bought the house, but the insurance underwriters never mentioned it. So far quotes have come back around $12k to rewire, and the does not include the cost to potentially replace any drywall that is damaged during the process. How much value will be added after rewiring is completed? Is there any room to ask the buyers to cover some of the cost? I've heard that rewiring the house will add about $2k of value to the home. Any thoughts, opinions, or advice would be much appreciated. Thanks! [link] [comments] |
| What are my options for refinancing a rental property? (DC) Posted: 17 Jul 2020 08:55 AM PDT First timer here so forgive my ignorance. I purchased my first home in 2015 in Washington DC that was supposed to be a primary residence but in 2018 I took a job in a different state so I decided to rent out the house while I rent an apartment in the other state. The DC rental market is strong so the rental income easily covers the mortgage payment. It is a 30year mortgage, with a 4% rate. $540k remaining with a maturity date of 10/45. Can anyone offer advice? As stated earlier I am new to this so I don't really know my options on if I can/should look to refi. Thank You! [link] [comments] |
| Posted: 16 Jul 2020 11:03 PM PDT We moved into a rental home last April, two months after the build wrapped up. We noticed settling cracks immediately, being new we didn't think much of them. Over the last year and a half they've gotten quite a bit worse. We hear settling cracks at all hours of the day, louder than I've really ever heard. The front door will stick to the point where it can't be opened. Our property manager claims I'm over reacting, and the builder has avoided making any warranty repairs on the owners behalf. Today, I was sent a waiver by the builder demanding assurance we're not COVID positive, but waiving liability if the repair crew is and exposes us. I'm not signing that shit. I've shared the pictures below, and facetimed a number of people detailing the cracks, and am getting the consensus these are beyond normal. This is a post tension slab foundation so I fear the cable is slack. These are a small sample, almost all located in the center of the house. [link] [comments] |
| Selling Investment Prop to Friend, Who's Also my RE Agent Posted: 17 Jul 2020 08:41 AM PDT I have an investment prop I bought a few years ago and gained about 20K in equity so far. I've been considering selling the property after some bad tenants. Its located on the East Coast and I live on the West Coast. So he's a friend that I know from this RE purchase (he was my agent), not a long time, old friend or anything like that but I like the guy. What should I be looking out for to ensure I get my full investment potential and he gets a good deal as well? I thought about getting an appraisal and setting that as the asking price but what about the Agent and Broker fees etc...who should pay those? Is this a good idea or bad... [link] [comments] |
| Should I Continue to Rent and Buy Early Next Year? Posted: 17 Jul 2020 08:35 AM PDT Hi all, I'm in a fairly unique position. I am finally selling my home that I have been carrying empty since last year. I am 10 months in to an 18 month lease. And I just got a job that will pay me to get out of my lease and relocate me, all on my time table. So I am literally free to buy or continue renting anytime from now until March of next year. My question is, do you think the market will go up or down over the next 9 months? [link] [comments] |
| Posted: 17 Jul 2020 08:31 AM PDT Hello, I have found an investment property I am wanting to purchase. It's new and part of a development. I have requested to do a deal without an agent and have the price reduced accordingly to which they have said no. Per their policy I need an agent to put forth an offer. As I have not finished my license, I cannot so so myself. My question is, since I have already identified the property I want and it's just a matter of paperwork to acquire the property, would it be possible to approach an agent to do the job for me and split their commissions with me? [link] [comments] |
| Appraiser wants us to convert workshop back into garage Posted: 16 Jul 2020 03:10 PM PDT EDIT: Thanks everyone! You basically reaffirmed what we were feeling. We think the appraiser made a hypothetical appraisal based on the garage becoming a garage again and since the buyer's want this, they are using it as leverage to have us do the work. We are going to ask for a copy of the full appraisal report (which I expect them to decline) in an attempt to call their bluff. If they back out, they back out. It just sucks that we're probably going to lose our new home over this. Closing was supposed to be today. We are almost completely packed. So, here's the deal: We listed a home that was supposed to close tomorrow. The appraiser who came a week ago, waited until today to finalize his report. He wants us to take our enclosed workshop, tear down the wall, and put back a garage door with permits. We had a city inspector come out today. He said we did not need a permit to close it in or to take it back down. The workshop is also on the main central heating and air system. If we do this, we will have air blowing into the garage. The reason we closed the garage in was because it was just not functional. The driveway itself is narrow and made of concrete with a drop-off on the right side. To get into the garage, you had to make a sharp left turn. With one small car it was manageable, with two it's impossible. There's just not enough room to safely maneuver into the garage. It was just more functional as an attached shop. We just paid thousands of dollars to replace the roof per their inspection addendum YESTERDAY. It has come to our attention that the buyers always intended to convert this room into a garage. It is odd that after a full week he turns in this major requirement the day after repairs are completed. So my question is: Before we tear down an entire wall, are we allowed to get any kind of second opinion? This feels more like a remodel since the work was legal. It's not that expensive to do, but if we do it and then the buyers back out, it will be a disaster. It will also be labor intensive. TL/DR: garage was useless, made it a workshop, no permits required - appraiser is forcing us to tear out wall and put garage door back up. [link] [comments] |
| 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