Real Estate: Seller took all curtains and some fixtures |
- Seller took all curtains and some fixtures
- Is it normal for HOA president to pay himself
- Question regarding PMI at the current rates
- [Ohio] [Anywhere!] Selling house for what we owe versus attempting a profit
- Seller countered with higher than Redfin listed price
- 100k over asking? Anyone here over bidding that high or similar? Crazy bidding wars
- Keep accent walls or paint them to match the others?
- At my wit’s end. Wells Fargo can’t pull credit due to supposed Equifax freeze. Equifax says there’s no freeze. Other banks have no problem. Please help me save $45,000.
- Oops. Bought a house before we were married. What to do about ownership?
- Seller has Covid
- Family Opportunity Mortgage
- I think all the school in nyc is closed right now from covid. Which online class is the best here ?
- Get into contract by THURS if at all possible
- Found a couple of issues after taking possession, that conflict with disclosures. Do I have any recourse?
- Smoked in House
- Should I take the loss on my first house?
- Hows the market in your area?
- Septic and well. Would you?
- Renting after Signing Paperwork
- Upstate NY real estate bubble?
- new assistant
- Builder forgot bedroom vaulted ceiling on new construction
- [US-FL] How much time should I give myself to close on a house?
- Buyers Possession Before Closing
| Seller took all curtains and some fixtures Posted: 04 Aug 2020 09:14 AM PDT The seller took the curtains/blinds from every room and curtain rods from the bedroom, all the bathroom mirrors, wall sconces from the bedroom, the mini fridge in the basement bar and they even removed the chandelier from the dining room. The contract states that all fixtures must stay so I understand there's some ambiguity about what is considered a fixture but seems the seller is taking this a bit far...I would think the fridge and chandelier are fixtures for sure? My realtor is reaching out but just wondering if anyone has dealt with this or legally what standing I have. I'd appreciate any insight. [link] [comments] |
| Is it normal for HOA president to pay himself Posted: 03 Aug 2020 04:31 PM PDT The HOA president at a condo I'm looking into buying pays himself 15k a year (about full time minimum wage in my area: Texas) with dues, and the other office members a lesser salary. Is this normal or a red flag? [link] [comments] |
| Question regarding PMI at the current rates Posted: 04 Aug 2020 08:45 AM PDT Quick question, I figured someone may be able to help me here! I am closing on a house Saturday, but have been hearing recently that at the current rates, it may make sense to only put 19% down, take PMI in order to save long term. I never thought this could make sense, but we are in crazy times. Can anyone clarify or elaborate for me? Thanks in advance! [link] [comments] |
| [Ohio] [Anywhere!] Selling house for what we owe versus attempting a profit Posted: 04 Aug 2020 09:16 AM PDT We own a house in city "A" and paid about 20k more than what we currently owe. The market is not a seller's market and we have to put some work into the house to bring it up to at least the value of what we paid for it (cosmetic mostly). We do not have the spare cash reserves to put in the work, and, we both work full-time with the house being 4+ hours from our current city "B" Our next-door neighbor to "A" is willing to buy the house for what we owe, and will pay all closing costs, meaning we will walk away owing absolutely nothing. He knows what work needs to be done and has the resources to do such. We have extensively and exhaustively researched renting out the house, even with a professional company to do the renting for us, but we simply want to be done with the house.
Based on this, are there any cons/negatives (big 'uns) that can be said? And, yes, we've heard from dozens of people who are telling us not to sell, it's an investment, blah blah blah...we don't want to keep it, rent it out, hold on to it, etc. Thanks in advance for any feedback. EDIT: And, yes, we get it, we're going to take about a 20k hit. [link] [comments] |
| Seller countered with higher than Redfin listed price Posted: 04 Aug 2020 06:49 AM PDT 1st time homebuyer. Seller listed property at 224k. Dropped from 229k because of carpet damage and paint damage. I offered 224k and seller countered with 231.7k and they cover the total closing cost. The seller estimated it will cost 3k for the carpet replacement and 2k to repaint ths walls. Which is why the seller dropped it from 229 to 224. Is this standard? Redfin price = $224k, orginally $229k. (Price Dropped 5k due to estimates from carpet replacement and painting the whole interior. ) Appraised at $235k. I offered= $224K + seller rakes 100% of closing. Seller countered= $231.7 + seller takes 100% of closing and credits it to me at closing. The property is in Texas. Nothing wrong with ac, plumbing, foundation, walls (except for paint), or roof. [link] [comments] |
| 100k over asking? Anyone here over bidding that high or similar? Crazy bidding wars Posted: 04 Aug 2020 08:48 AM PDT I had to back out of a house that ended up needing a lot more repairs than anticipated. We only competed with another offer in early June. Fast forward 2 months and we are told that to be considered, we have to offer (example) $845000 for 3 bed 2 bath house with pool 1300 sqft listed for $775000 with no contingencies. And that's just for our offer to be considered amongst hundreds. The way I see it. Low rates are driving people to buy but if I will pay almost 100k over asking then the low rate is almost a draw from buying at another time Thoughts. I'm in California [link] [comments] |
| Keep accent walls or paint them to match the others? Posted: 04 Aug 2020 09:16 AM PDT We are preparing to move. Our living room and bedroom each have an inset area that we painted in "Firecracker" red. The rest of the walls are "Greige". See: https://imgur.com/gallery/mLlugmn When we bought, the kitchen was red and the rest of the walls were a sandy tan. My wife liked the red but not where it was, so we repainted. The agent told us that several buyers had been turned off by the blood-red kitchen (we chose a less obnoxious tone). As we look toward selling, should we keep the accent wall or simply repaint everything the same color? We need to do a lot of touch-up work anyway, so the whole place will be getting a fresh coat. [link] [comments] |
| Posted: 03 Aug 2020 06:39 PM PDT |
| Oops. Bought a house before we were married. What to do about ownership? Posted: 03 Aug 2020 09:27 PM PDT Hi All, My partner and I decided to buy a house. Our loan originator convinced us that that we would get a better deal if the mortgage was only in my name due to me having a better credit score/less debt (student loans). My partner had to sign a gift letter, "gifting" me his half for the down payment. Now we are in a situation where he has no legal right to the home since he is neither on the mortgage or title. However, we signed our marriage license this week (had been planned previously) and are now technically married. Is our only option at this point to do a quitclaim deed and get him on the title now that we are married? Refinancing doesn't seem like a valid option at this point to get him on the mortgage. Has anyone else been in a similar situation? I'd appreciate any help you might have. I am calling a real estate attorney tomorrow, but am curious what reddit has to say. Thanks! [link] [comments] |
| Posted: 04 Aug 2020 09:45 AM PDT Purchasing a FSBO So— we were just informed today when trying to schedule an inspection of our prospective home that our seller has Covid. And as a result, we cannot have access to the home for the inspection. At this point this has been such a dumpster fire we just want to drop the deal. But with no Covid clause, do we have somewhat of a leg to stand on to potentially get our earnest deposit back? [link] [comments] |
| Posted: 04 Aug 2020 09:44 AM PDT We are looking to purchase a home for my elderly parents in Texas. We heard about the family opportunity mortgage, but not finding any brokers / advisors that can give more information on it. We have searched online and spoken to our previous brokers, but nobody seems to know anything. Does anybody here know how we can get more information on it? Is it still offered as a mortgage option? Does any traditional lender participate in the offering? Thanks, [link] [comments] |
| I think all the school in nyc is closed right now from covid. Which online class is the best here ? Posted: 04 Aug 2020 09:43 AM PDT |
| Get into contract by THURS if at all possible Posted: 03 Aug 2020 03:05 PM PDT Freddie Mac surveys the market Friday, Monday (today), Tuesday, and Wednesday. On Thursday they publish their findings, you can see it here. This Thursday, because of that, CNN/Fox/WSJ/etc will be running headlines saying that rates hit a new low - again. That, in turn, will cause a demand surge for refinances - again. That demand surge starting late Thurs morning will, in turn, and again, cause rates/fees to spike in the short term - for refinance AND purchase mortgages. Banks and lenders are using the rate and fee combinations they offer to consumers to manage capacity and slow down inbound loan application volume, and have been this entire pandemic. Just because CNN runs an article, does not mean another 100 underwriters mysteriously pop into existence. On Thursday afternoon and into next week, Do not be the 100th person calling your loan officer and being all uppity that rates are up, even though CNN told you rates are down. As always (just as true with stock tips -- everyone knows Amazon is doing great, but unless you purchased that Amazon stock back in February, you're not likely to get that 40%+ return), if it's in the news, it's too late. So, get your dream house under contract by Wed evening, so your loan originator can get it started, lock the rate, etc, before that demand surge hits and lenders post mid-day pricing changes for the worse to control capacity. If you're writing an offer, set it to expire Thursday at 12:01 AM, and there's no reason not to be transparent as to why. If the jobs report that also comes out Thursday is worse than expected (magnitude 9 dumpster fire, to use the scienterific lingo), that could blunt the impact of the refinance demand surge. If the jobs report is more or less as expected (magnitude 7.5 dumpster fire), it's already baked in and it will not have any impact. If that jobs report is better than expected (call it a 6.5 dumpster fire), that will compound with the rate spike that's going to happen anyways due to the demand surge. [link] [comments] |
| Posted: 04 Aug 2020 09:39 AM PDT Old Victorian home in Maryland. Obviously there will be some issues and we knew this going in. The disclosures say "knowledge of basement leaking: Yes and (in comments:) French drain keeps floor dry." But with today's torrential rain, we found a puddle on floor, past the french drain. Any way to hold sellers responsible for repair? Or are we on our own? Overall we're not unhappy, we got a lovely house at a good price, but we bought based on the understanding that the basement was well-waterproofed. [link] [comments] |
| Posted: 04 Aug 2020 09:14 AM PDT Looked at a house and it was fantastic except the owner must have smoked in it for the last twenty years. Prior to listing, they ripped out all the carpet, painted every wall, and put down vinyl flooring. It still smells. We don't want to live in a house that smells like a motel six "non smoking room." Will this smell ever actually go away without gutting the house down to the studs? [link] [comments] |
| Should I take the loss on my first house? Posted: 03 Aug 2020 06:26 PM PDT So almost 4 years ago I bought a 3/1 house toward the end of an oil boom in South Texas. I bought 0 down with VA for $130k with VA funding fee that put it at 134k. Mortgage is 537 and escrow with tax/ins brings it to 878/mo. Now in 2020 there is a realtor in my small town selling similar sized houses for $120-125 and going under contract within the week. These will end up being my comps. Now I owe 122k so with dealer commissions I figured I would need to sell for 134k the break even. I'd love for someone to correct me on that. So I thought about renting it out but I have seen people racing to the bottom with their rent prices and now houses my size are renting for as low as 800/mo. I will steadily lose money each month if I were to rent it out. We close on our new house 8/7 and I still don't know if I should sell and effectively pay someone to buy my house or rent it out without making a profit. As it stands right now I can carry both notes for several months but I don't want this to be a permanent thing. I could use some advice [link] [comments] |
| Posted: 04 Aug 2020 05:18 AM PDT Just wondering how the market in your area is looking? We have been searching for about a month so far and passed on the only nice house that has popped up (we had some valid concerns, too close to the main road, bedrooms very very small) As of right now, there is absolutely nothing in our area in our price range. I know they come and go but right now there is NOTHING! [link] [comments] |
| Posted: 04 Aug 2020 09:00 AM PDT Hi all, Just looked at a newly built house in an unincorporated are, so it's on well and septic. To explain: the house was built on the foundation of an old house, so the septic system is not new (as far as I know). Here, before a sale, the seller needs to get septic and well tested and inspected. That would definitely happen before close. I have never lived in a house that doesn't have city sewer/water, so what do you guys think? Also, love garbage disposals and saw there are certain ones specific for septic (only ever shred food anyways, not general garbage...), opinion on those? Thank you! [link] [comments] |
| Renting after Signing Paperwork Posted: 04 Aug 2020 08:57 AM PDT Hi friends, My husband and I began the house-buying process, made an offer on a house, and were out-bid. Now, with COVID, we are thinking about waiting until things slow down. The market is so hot and we don't have the funds to beat out others (first time home buyers, currently renting). My question is this: can we decide to rent after signing disclosures with our realtor? I know we are tied to her until a specific month to PURCHASE a home, but can we change our mind about buying and sign a rental lease without issue? We signed: -New Hampshire Exclusive Buyer Agency Agreement/ Designated Agency (NHAR) -New Hampshire Brokerage Relationship Disclosure Form (NHREC) -Seller Disclosure -Lead Disclosure Thank you! [link] [comments] |
| Upstate NY real estate bubble? Posted: 04 Aug 2020 08:28 AM PDT Been diligently looking with my partner at upstate cabins for the last couple months, trying to get out of the city for a while. Unfortunately for us, everything is being listed for almost 100k or more over estimate, even on obvious places that are unlivable / mid renovation. At this point we've mostly decided that there's no way we'll pay these inflated prices, but how does this affect the market long term? Who's buying these houses at 100k over estimate? Will they hold value? [link] [comments] |
| Posted: 04 Aug 2020 08:09 AM PDT I just got a job as a realtor's assistant, i was wondering if anyone had tips/advice to share. And any ideas for marketing would be appreciated as well. [link] [comments] |
| Builder forgot bedroom vaulted ceiling on new construction Posted: 03 Aug 2020 01:44 PM PDT Hello everyone, I'm currently building a new home with my fiancee. It's a tract home in a new subdivision, about 3500 square feet, two story. Anyway, progress has been moving along well, and we went through the frame walk and were happy. However we went to pick out our lighting, and were told we had room for a hanging fixture in one of the downstairs bedrooms, with ceiling height of 13'. This made no sense, as all the ceilings are 9', except for a tray in the master bedroom. I then looked at the plans and realized the builder had forgot to put in a vaulted ceiling in that bedroom. At this point, all electrical, vents, a gas line, etc. had been run for that room, and it was going to be a significant delay to fix. We talked about it and were ok forgoing the ceiling, but we wanted some kind of credit given the loss of a significant structural feature. The builder agreed he would come up with something, however we just received a notice of a credit of $275. This seems absolutely ridiculous to me, as I'm sure they would charge us way more to add this feature, and it would cost way more to fix at this point. What are my options? The ceiling is in the plans and contract, in writing. Honestly, I'm already having to break a lease for the expected closing time, and I'm willing to wait. Is it worth it to push them to fix it, or demand a higher credit? I have no idea what this should be except more than $275! Thank you for your help. [link] [comments] |
| [US-FL] How much time should I give myself to close on a house? Posted: 04 Aug 2020 06:59 AM PDT Started looking right before COVID hit, and no one would lend me after I was furloughed so I gave up for a few months. Just got back to work this week and would like to seriously start looking again plus lots of Zillow listings dropping house prices left and right, but my apartment lease ends at the end of October and would like to move if at all possible by then. Do I have enough time? I'd like to aim for a newly built house (Our location has lots of houses being built even with all the shutdowns), although I would probably guess there would be extra time involved with getting a house appraised or have it taken a look at by inspectors, although I don't know how long would that be (would like to know this as well). I feel like 2 months is pushing a little bit, but the hassle of moving around is a bit daunting. Also my roommate is due with a baby pretty soon and would like to let her have the whole apartment for privacy and... the baby. [link] [comments] |
| Buyers Possession Before Closing Posted: 04 Aug 2020 06:40 AM PDT We have a contract on our house, due diligence is in two days. The buyer just notified us that they want to take possession on July 18th (which was our original closing date). They want the closing date moved to Aug 31st. They offered to have a rental agreement drawn up by an attorney, pay $1000 rent, house as is since we already gave them funds for items on inspection list. They offered to get renters insurance. The reason they want this is they are closing in their house in another state on August 31st but need to be here for work on July 18th. Has anyone had experience in this? Thoughts? [link] [comments] |
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