Real Estate: Seller withheld inspections to try and fuck me over |
- Seller withheld inspections to try and fuck me over
- 2.5% ?!
- Thank you!
- Inherited a property, don’t know what to do with it
- Finally bought a house in the bay!
- Thoughts after closing on my first home today
- Have not received condo resale docs
- Buying a residential property in an industrial zone
- Debt to income ratio question
- Potential Oil Tank found outside of property line(NJ)
- Is realtor commission the same as a broker fee?
- LOS ANGELES/CALIFORNIA homebuyers/sellers or agents who have purchased or sold a home since 2018: What is the average down payment you tend to see on homes priced between 900k-1.3m?
- "Home Postpartum"
- Suwanee Town Center Real Estate
- Sellers have evacuated their primary residence due to wildfire and moved back into home we’re under contract for.
- When to schedule mover?
- What should I do.
- I’m a new homeowner, with a very strange fence situation...
- Closing possibly delayed until after the 1st. Will we (sellers) owe another mortgage payment?
- Mail issues after moving?
- Selling land
- Feeling like giving up finding a place in LA
- Would like to fire our realtor, but we are still in contract for a backup offer.
- Buying a home with an open permit
| Seller withheld inspections to try and fuck me over Posted: 20 Aug 2020 07:11 AM PDT Our offer was accepted on a house built in 1901. We were the third potential buyers, the first two backed out. We asked the sellers if the buyers had done any additional inspections on the home, they said no. The home inspection the sellers did showed the foundation to be in good shape with no issues whatsoever. Being that the house was 120 years old, we were getting a foundation inspection by a structural engineer as well as walking the home inspection with our contractor. In addition, the sellers claimed the foundation had improvements done in 2010. I requested all documentation on the improvements after the offer was accepted. Now that the sellers knew I was doing my due diligence, they said the first buyer did a foundation inspection but they just hadn't uploaded the inspection yet. We reminded them how we had asked them if there were any additional inspections before we sent our offer, and they claimed we thought we meant if the 2nd buyer made any inspections, not the first buyer. Turns out the home had over 100k worth of foundation repair, and I quote "we don't even know where to start with this homes foundation. It will need a structural engineer to design a whole new system for the house" Fuck you sellers agent. Fuck you. [link] [comments] |
| Posted: 19 Aug 2020 06:31 PM PDT Our offer was accepted today and we locked in 2.5% on a fixed 30 year mortgage! Nuts! [link] [comments] |
| Posted: 20 Aug 2020 09:56 AM PDT Just wanted to say thank you to this sub. Husband and I are buying our first home and suspected foundation issues. So many people around us suggested that it wasn't a big deal, but because of what I've read here (particularly about how realtors/agents are financially motivated to make sales go through), I knew that it was our job to advocate for ourselves. We pushed for a structural engineer to inspect and they confirmed our concerns. This will save us a lot of money and a LOT of heartache! Thanks for sharing your experience and helping us through this VERY stressful process. [link] [comments] |
| Inherited a property, don’t know what to do with it Posted: 20 Aug 2020 02:50 AM PDT Hi all. I have a situation which I'm having trouble dealing with. My father used to be relatively wealthy, and in his immense wisedom he bought a run-down property in rural France which he planned to renovate. None of the family knew he bought it, or that he was renovating it until he passed away. The property consists of 1 Main House (pictured on the photo), 2 cottages (1 of which is almost liveable), and 1 large barn. It has around 20 hectares of forest/garden area that are overgrown. My dad was able to renovate about half of the main house, to really good standard, until he had to stop because he ran out of money and basically our family was almost bankrupt (not really because of this renovation, but mainly other reasons). Anyway, the property has been lying empty for 4 years. 4 years without renovations or any work. Since then French vandals have looted most of the hard work my dad put into it. The garden is overgrown. I suspect the local youth hang-out there on weekends to smoke weed and spray-paint in the houses. Tried selling it - no one will buy due to the location and the state of the place. So I'm not sure what to do with it. Ideally, I'd find someone to live in one of the cottages (one of them is almost in a liveable condition), to keep the place free of vandals and the local youth. I'm 21M and don't have the money required to do it up yet. I have 2months holiday per year for my job, and earn a decent amount of money. My job is elsewhere so I can't live there full time. Anyone have any suggestions on:
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| Finally bought a house in the bay! Posted: 19 Aug 2020 05:53 PM PDT After four failed offers, we finally had our offer accepted today. The property itself has everything we want, from square footage to layout and amenities. We didn't realize when we first started that buying a house in the Bay Area was such a crazy process, but thankfully, we learned a few things along the way.
Anyway, I guess I'm just excited to finally end our search. Thanks for reading and happy to answer questions if you have them. [link] [comments] |
| Thoughts after closing on my first home today Posted: 20 Aug 2020 01:17 AM PDT I closed on my first home yesterday in Vegas. I don't know what I am feeling? I'm excited to own a home, but also feel like maybe I could have done better from many aspects. There's also uncertainty given it is Vegas but I'm optimistic about the future. Home Search/Price: Inventory is pretty low in Vegas. I had a very specific neighborhood I wanted to buy in. I wasn't on the market very long and made an offer on the first acceptable looking home. At the time the house was listed $10K under the same model home across the street that was also on sale, but after my contingencies expired the home across the street dropped their price by $15K, and ultimately it sold for $30K less than what I paid, albeit theirs was a cash offer. The bank waived the appraisal and I opted not to do one. Looking back, I would have stayed on market longer and viewed more homes or waited for more inventory. There are more attractive homes for lower list prices after my contingencies expired, but I didn't really want to back out of the whole process and lose my earnest money. I don't know whether I would have still gotten the appraisal though, somebody had to feel like the house was worth it. Interest Rate: I locked in at 2.75% with $1,000 in lender credits a a month or so ago. But damn, now people are getting 2.5% with zero points. Good for them, but damn it. I have zero complaints about my loan process though, it was super smooth with nothing surprising requested. Inspection: I don't understand the point of hiring a generalist to do an inspection. In hindsight I would have gotten specialists to do it. Telling me there are stains on the ceiling and a potential leak isn't very helpful when I could have already gotten a plumber out for 1/3rd the price of the home inspector. After the home inspector came out I had trouble finding a roofer and a plumber to inspect issues, and the seller refused to extend due diligence -- so I accepted the risk. Then after I closed today, I was changing a few bulbs and running the water but noticed there seems to be some significant grounding issues where I get zapped by the water. When I was changing bulbs, they actually flicker when I touch them. None of this was in my inspection report. But pretty pictures of where my circuit breaker was is in the report. Neighbors: I would have staked out the house for like 12 hours in hindsight rather than driving or running over at random times. For some reason the neighbors across the street have 12 or so cars stacked 3 deep at the end of the cul de sac every day late afternoon. It's seriously a mini parking lot but I think they just have a ton of relatives that enjoy socializing together. Also, the next door neighbor seems to pump iron at 6am and BLAST the radio out of their garage. So that's cool. I only realized this cause I had to do a final inspection at that time. Real Estate Agent: Can't stress importance of finding the right realtor or agent. There were certain points where I felt my agent didn't deliver and I seriously wanted to fire my agent. But I also know that my agent worked hard in other aspects and I rather not screw them out of their commission. I guess it's 1am and I've run out of thoughts and rants but I seriously hope there isn't a leak and the grounding/electrical issue can be fixed pretty easily. Joys of home ownership, I guess. [link] [comments] |
| Have not received condo resale docs Posted: 20 Aug 2020 11:11 AM PDT Currently very close to the finish line on purchasing a townhome in a condo association. In our state, we are required to receive the condo resale documents within 14 days of a ratified contract. It's been 18 days and no documents. Our agent has been pestering the listing agent constantly about it and at this point, we are at a loss as to what to do. We do not want to walk away as we love the home, but I'm NOT closing until we have reviewed the docs. Is there anything we can do to push this along? If our closing date is pushed back because of this, are we entitled to compensation for hotel costs, etc? We've already sold our current home and will essentially be homeless if this winds up getting pushed back. This is the last piece of the puzzle and we are incredibly frustrated that we haven't received the documents. [link] [comments] |
| Buying a residential property in an industrial zone Posted: 20 Aug 2020 10:38 AM PDT We put in an offer on a place yesterday. It's a late 19th century cottage that's been beautifully restored. The only thing is, it's in a weird place. There is an industrial lot across the road and another about 300 meters away. There's a 20 acre lot for sale next door that's also zoned for industrial use. It's all relatively quiet, no heavy machinery, drilling or construction, just the occasional truck, but I'm just wondering if anyone has experience with buying in a similar area and if there's anything specifically I should be looking out for that might not come up in a regular zone. Thanks [link] [comments] |
| Posted: 20 Aug 2020 10:22 AM PDT I am new to home buying/shopping and unsure what to include. My wife sought out pre approval this morning. We got approved for 510 purchase price. 3220/mo 48000 down including closing costs And it says 45% debt to income ratio I am not sure why it's 45%?.. from what i understand that is just the % of our monthly gross that we spend on debt. I spent 413 on a car loan and that's it. We make 150k/year. So that's 12500/mo gross. We have credit cards but paid off each month. I'd need to be spending about $6k/mo on debt to be at 45% surely?! [link] [comments] |
| Potential Oil Tank found outside of property line(NJ) Posted: 20 Aug 2020 09:05 AM PDT Hi everybody, as I posted before we are in contract on a Sale by Owner house. We just did the inspections earlier this week and the Oil Tank search showed a metal object that resembles a 1000gal oil tank, but there were no pipes found in the basement of the house. The problem is that legally the property above where the potential tank was found it belongs to the city not the owner, but it is a corner property so if it is an oil tank it could have only been used by the house we want to buy. Now we still don't know if it is an actual oil tank, but the chances are that it is. The sellers are saying they wouldn't take it out because it is not their property and we don't want to buy the house with it or take it out on our dime. Underground oil tanks are a big problem in NJ, because in case the tank was leaking it could be 60-80k in decontamination of the soil. I just wanted to see if anybody was in a situation like this before and how was it resolved? [link] [comments] |
| Is realtor commission the same as a broker fee? Posted: 20 Aug 2020 11:05 AM PDT I'm in MA. The listing said no broker fee for tenant. They then tried to charge us money which we fought. The realtor said I needed three checks. The listing said we owed first, last and security so I assumed that's what all the checks were for. The company crossed off the memo of where it said "security deposit" and wrote "rental commission". Is rental commission the same as a broker fee? [link] [comments] |
| Posted: 20 Aug 2020 11:05 AM PDT Curious if most in this price range tend to put 20% down or more? [link] [comments] |
| Posted: 20 Aug 2020 06:04 AM PDT Forgive the title, I'm trying to describe this feeling of utter exhaustion after everything is all done- from spending time prepping and searching for a house, getting an offer accepted and then jumping through all the hoops to finally make it to closing. We moved in to our new home almost 2 weeks ago, completely unpacked, and now I feel like I'm hitting a wall and just crashing. I don't regret the home I purchased, I love the house and it already feels like home. However I underestimated the amount of projects and work that needs to be done. I've never lived in a house, even as a child it was always apartment living. So I'm a bit overwhelmed with the task of home ownership and this new responsibility. My husband is less overwhelmed and is much more handy than I am, I just feel overwhelmed with everything I need to learn. It's been 2 weeks and although we're unpacked we still have not changed the locks or chip away at some smaller projects I thought we'd have done. I know it's losing battle trying to get everything done at once. Im losing sleep over all these projects-is any of this normal? I'll admit I struggle with anxiety generally, and being a home owner just kicked it into high gear. [link] [comments] |
| Suwanee Town Center Real Estate Posted: 20 Aug 2020 09:09 AM PDT Hello all , I noticed there is a lot of construction happening on Buford Highway connecting to Suwanee Town Center. A mix of apartments, retails and townhomes /single family homes . Also , heard that Suwanee city is expanding its park . With all these movements , is it a good idea to invest in one of the townhomes (listed for $365k) and rent it ? Because , all the apartments are filled in and a 3bdr goes for $2450 . Just wanted to share here and know y'all's thoughts . [link] [comments] |
| Posted: 20 Aug 2020 08:44 AM PDT Can the seller back out?? We're clearing our final contingency to sell our house today and supposed to be in the new house in a few weeks. Do they have recourse to keep their house ? [link] [comments] |
| Posted: 20 Aug 2020 08:38 AM PDT I cant get a solid date when closing will be done, so I'm not sure when to schedule the moving company. Our selling agreement has a "close no later than" date, but it will depend on when the appraisal comes in, and no one can say when that will be. Are movers used to being flexible, or should I just schedule a week after the "close no later" date? [link] [comments] |
| Posted: 20 Aug 2020 08:31 AM PDT Just looking for advice for anyone that has a career in real estate/banking. A little bit about myself, I'm 23 just graduated from a 4 year public university in Missouri with a degree in Finance. I also have my real estate license in the state of Missouri, I've had it since June of this year. Since 2016 I've also been working for my father, (who is a certified residential real estate appraiser in Missouri). I'm looking into working for a bank making upwards of 70 thousand w benefits starting out but I'm also thinking about starting my training to become a general certified real estate appraiser, along with being a real estate agent and then becoming a broker. Anyone have any suggestions on what they would do if they were in my shoes? Anything helps thank you! [link] [comments] |
| I’m a new homeowner, with a very strange fence situation... Posted: 20 Aug 2020 07:18 AM PDT I just bought my first home. It's a ranch, with a large garage in the back yard. Right now there is a very weak gravel driveway going from the street, alongside the house, and then back to the garage. The space between the house and the fence is very narrow, maybe 10 feet. The day I moved in, the landlord that literally owns every home around mine told me that he built the fence on the side with my garage, and gave the homeowner 3 extra feet to be nice so his car could fit back there. I would like to replace the fence and put an actual concrete driveway to the garage. I asked the homeowner if I could replace the fence on my dime (it's at least 30 years old and I'm terrible condition) and put in my driveway. The problem here is, he either doesn't have all of his faculties, or doesn't want to address it. When I ask him he mumbles about a surveyor but gives no answers. The fence has been up for so long, is this my property now, should I just go forward? How would you proceed? [link] [comments] |
| Closing possibly delayed until after the 1st. Will we (sellers) owe another mortgage payment? Posted: 20 Aug 2020 07:03 AM PDT We are selling our house and are first time sellers so I am sorry if this is a dumb question. Closing was scheduled for tomorrow, 8/21, but has been delayed due to a backlog with the buyers' lender. We made our August mortgage payment this month as scheduled. We think the title company has already requested the payoff as they specifically asked us if we'd made the August payment yet and said they "won't include it" in their request since we had. Closing might happen 8/31 but could be pushed to 9/4. If it's pushed to 9/4, will we owe a September mortgage payment? Thank you! [link] [comments] |
| Posted: 20 Aug 2020 05:25 AM PDT So I unfortunatly became "that person" who didn't resolve their mail issues until after moving. Sort of. I changed my address at the USPS post office prior to moving out. I also changed what I could address wise, but didn't have internet for 5 weeks. (Thanks COVID) so two of my packages accidentally got sent to the previous condo i owned. I asked a neighbor who I am very good friends with if she could reach out to the new homeowner to let me know about when my packages come. Well both tracking numbers say they were delivered on August 1st. And my neighbor hasn't heard anything from the new condo owners. I contacted the one company who was a larger big box company and they just sent me a new order free of charge which was very kind. The other package however was a gift that was handmade for my sister-in-law made by a very small business. I feel bad asking for them to make a new one because my phone automatically changed the address for that order (not sure why because I ordered a few things at the same time and all except that one went to my correct address.) It also was decently expensive and as a teacher not getting paid all summer finances are a little squishy at the end of the summer. It was shipped via USPS so they should have known my address changed anyway! I waited a bit before doing anything in case USPS rerouted it to my new address, but it looks like that didn't happen. I'm on the phone with USPS but I have a feeling they aren't going to do anything. I'm honestly really upset about it, and I'm not sure what to do from here... do I go and knock on their door? Is that allowed? or is that creepy? I honestly just want my package, because I have a hard time believing that 2 different packages from 2 different carries somehow didn't come. [link] [comments] |
| Posted: 19 Aug 2020 05:46 PM PDT I own a parcel of land on a residential street. It's the only land in a nice neighborhood that's not developed. I'd like to sell it, but after getting it checked out by a surveyor I'm not sure what steps to take? It's approx 0.2 acres in MA. Edit: I should mention this neighborhood was developed about 17 years ago by a big developing company in the town. Should I approach them before listing it? [link] [comments] |
| Feeling like giving up finding a place in LA Posted: 19 Aug 2020 10:50 AM PDT Put in a bid 100k over asking and didn't even get a counter offer.. place went over 200k asking it was such a perfect place and I put a lot of effort in researching the area, putting together the letter and offer... it's so discouraging. I always feel one step behind here in LA! [link] [comments] |
| Would like to fire our realtor, but we are still in contract for a backup offer. Posted: 19 Aug 2020 06:13 PM PDT So I am in a potentially sticky situation. My husband and I have been working with a realtor for a few months now and while the relationship was good at the beginning, it has fallen apart with time. We have put in offers on a few places, including one that we absolutely loved but lost out on. The sellers offered us a backup offer, in which we are next in line if the first buyer falls through. It has been 3 weeks since then and nothing from the seller. I seriously doubt that anything will come of it, but if it does, we would definitely want the house. Otherwise, we no longer want to work with our realtor. She only sends us houses that are out of budget, basically assuming that if we will pay that much for one house, we will pay that much for any house. She doesn't seem to take our concerns seriously. There is more involved, but the point is we aren't communicating well and I want to move on. How do I fire her, but leave the door open if the backup offer turns into a real thing? I am happy to work through closing with her since she did the work on the offer, but otherwise want to move on. [link] [comments] |
| Buying a home with an open permit Posted: 20 Aug 2020 12:33 AM PDT I am 8 days out from closing on a home in New Jersey and I found out the home has an open permit from 2013 for a kitchen remodel. What kind of risks am I taking on if this isn't resolved before closing? If the seller refuses to close the permit, is this something I can take care of myself after closing? Thanks [link] [comments] |
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