Real Estate: What I thought the most impossible thing that could happen, actually happened. I closed today! |
- What I thought the most impossible thing that could happen, actually happened. I closed today!
- COVID Temperature Checking Berfore Walkthrus
- Is $500K difference worth the long commute to you?
- Realtor just cancelled showing because I have a realtor and I have no idea what happened? Advice please.
- Resources for first time buyers (YouTube channels, podcasts, etc)
- Question about how my Agent is handling an offer (CA)
- Why describe houses as "starter homes" - this turns me off a lot
- Seller agent refuses to acknowledge secondary inspection results
- VA Streamline Refinance
- How much money should I be making yearly to buy a duplex (250ish K) in a MCOL area?
- When to List
- Real Estate Agents: When you say “your offer was one of the strongest” do you mean it or is it pandering?
- I want to buy a new primary home outright using the money from the sale of my current primary residence. How does it all work?
- Notification of rejected offers?
- I'm looking at a house with an apartment on a lower level semi basement. It has a musty mildewy smell. Is that a deal breaker?
- Beautiful historic home on 'magnificent' property but some traffic noise?
- Second Guessing the Mortgage Company
- Location, location, location.. What defines a good location?
- Casually Looking at Properties Online - Can I call listing agent to ask a few questions about a property?
- Ice Maker Broke Before Closing
- House showing, mandatory use of booties, gloves, mask
- ELI5: Southern California Housing Market Outlook
| What I thought the most impossible thing that could happen, actually happened. I closed today! Posted: 28 Aug 2020 07:18 PM PDT I closed today. After going through 3 realtors, 2 states, 60+ homes, 15 offers, and one AWFUL time under contract with a bad agent/extremely unreasonable seller over the past 8 months, the unthinkable happened. It still feels surreal. The seller though. The seller really has me emotional. I used a VA loan. Everyone and I mean everyone was rejecting my offers because I wasn't putting anything down, thinking's VA lending is so much more strict (it's not if the home doesn't have major safety issues). The seller accepted my offer because of that. This lady not only accepted my offer, but she had the most amazing home welcoming gift in the kitchen. Left behind literally everything I'd need for touch up, the pool, and anything I could think of. In summary, I don't know if I got lucky or the patience truly paid off. I want to believe it was patience. I was screwed out of 3 offers that were "accepted" that were either never signed, withdraw in attorney review, or seller didn't want to work with me on the low appraisal. If I had any advice though, surround yourself with people that are easy to ask for advice and know what they are doing from the lender, realtor, and attorney (if in attorney state or just want to use one). As much as this sub as solid information, these are the people that should be answering your advice questions with your specific issues. I truly hope the best for everyone buying or selling though. Especially buyers, be patient. If I can do it, you can do it better [link] [comments] |
| COVID Temperature Checking Berfore Walkthrus Posted: 29 Aug 2020 09:00 AM PDT Anyone using touchless thermometers to measure clients temperatures before doing walkthrus? [link] [comments] |
| Is $500K difference worth the long commute to you? Posted: 29 Aug 2020 08:12 AM PDT Two neighborhood, both are lovely with great schools. Houses in one neighborhood would be ~1.5M and the other around ~2M. (I am talking about a moderate 3b2b 1600sqft- 1800sqft houses.) In fact, we actually like the "cheaper" neighborhood better. We could afford both homes, but at ~2M, it puts a LoT of pressure on us financially. Some of you may consider it living above our means which I would agree. My partner works from home most days and I work from home two days a week. My commute from the "cheaper" neighborhood would be at 1.5 to 2 hrs ONE way with traffic. And it is a 30min commute from the expensive neighborhood. We also have a little kid which is why the idea of a house with a yard is attractive to us. Which neighborhood would you choose? Also, at this time, moving out of the area or changing jobs are not realistic options for us... [link] [comments] |
| Posted: 29 Aug 2020 04:51 AM PDT I'm a first time home buyer and have committed some sort of faux pas I do not understand. Does someone mind giving me some advice? Earlier this week, I saw a house online I adored. There's a spot to contact the agent and fill out info, in which I did and sent them a message. She called me, we set up to go on Saturday. Yesterday, I got an an agent! That seemed like the thing to do, as I have no idea what I'm doing and looking in an area that I've never lived before over and hour away. I have a wonderful family friend doing it. She sent me tons of listings and I feel exciting. I inform her we have an appointment the next day. It doesn't seem like a big deal. I send her that realtors number. And then I get a text from the other agent, of the house we wanted to see. She cancelled my listing and said she refused to work with another agent and she's he happy if I left her and just used her because she wouldn't get paid. I don't understand what's happening. In my experience, seeing my friends and family buy homes, the family selling the home has an agent and the buyer has an agent. This woman was not my agent, we spoke once and made an appointment for me to see a home she's selling. I'm really upset. We really really loved this house and it fits all of our needs. I don't know if I just greatly screwed this up and what happened. Could someone just... explain it? [link] [comments] |
| Resources for first time buyers (YouTube channels, podcasts, etc) Posted: 29 Aug 2020 09:13 AM PDT Hi everyone, Newly discovered this sub so forgive me if I missed some resources pinned somewhere. My new husband and I are getting near our savings goal for our first home and plan to start looking seriously in January (pending any shakeups in the market). Instead of daydreaming looking at houses we're not ready to buy, I'd like to spend the next few months educating myself on real estate so we will be better prepared come January. I'd love to know any resources that you'd suggest to first time buyers. YouTube channels or podcasts you like, websites, books, whatever you got! Thanks. [link] [comments] |
| Question about how my Agent is handling an offer (CA) Posted: 28 Aug 2020 10:22 PM PDT I'm a buyer and put in an offer on a small industrial property in Sacramento, CA. I didn't have an agent, so the selling agent offered to represent both parties as a dual agent. The seller countered $50k higher than what our offer was and I informed the agent we'll meet halfway to counter at $25k. The agent responded back saying "Guess you're not serious. Looks like you lost out on this deal. I can help you find a new place instead." So he didn't write up our counter. Question: Can the agent just refuse to write up/present my counteroffer to the seller? Seems like he's just making the decision on their behalf that "lost out" rather the seller seeing our counter and deciding if they want to accept or not. Do I have any recourse or any recommendations on what to do? [link] [comments] |
| Why describe houses as "starter homes" - this turns me off a lot Posted: 28 Aug 2020 01:49 PM PDT We are looking to buy our next house, which will be our 4th time buying a home. I am surprised by the number of houses that are described in the listing as "perfect starter home!" To me, who this wouldn't be a "starter home" for, I feel like this is a turn off and sort of offensive as well. I also don't know why they consider these starter homes as they're not in need of renovation, are 4 bedrooms, and are all above average or median cost for our area. "Starter home" to me sounds like it's cheap, small, and temporary. I guess this is mostly a vent but also like... what is the deal with this? Why do agents do this? [link] [comments] |
| Seller agent refuses to acknowledge secondary inspection results Posted: 29 Aug 2020 09:35 AM PDT I'm currently in contract on a home and am in the last few days of the contingency period. I've gone ahead and ordered a roof inspection because the original set of disclosures didn't include one, and also got another pest inspection done because the first one was done about half a year ago prior to a bathroom remodel in the home. The results came back and revealed about $20,000-$30,000 in repairs that need to be made on top of what was originally disclosed in the original set of disclosure on the home. Our agent presented the seller agent with the results and reported that they do not want to acknowledge the reports. Is that legal in California? The seller agent is also now saying the property is as-is and there will be no concessions on their end. [link] [comments] |
| Posted: 29 Aug 2020 08:59 AM PDT I'm beginning to get some quotes on a refi on my VA mortgage. Something caught my eye looking at the first paperwork I received back. (numbers changed slightly) F. Prepaids
G. Initial Escrow Payment at Closing
Why would there be two line items for property tax in two different sections? Is this a mistake? [link] [comments] |
| How much money should I be making yearly to buy a duplex (250ish K) in a MCOL area? Posted: 29 Aug 2020 08:54 AM PDT The title is the question. I'm 25. I have roughly 30k saved for a down payment. Also have about 45k in investmets (roth ira target retirement fund, VTSAX, and VTIAX). I am self employed (been in business 2 yrs) Currently netting 40k a year. [link] [comments] |
| Posted: 29 Aug 2020 04:47 AM PDT I will be placing a home on the market within the next few months. Elevator speech: It is currently being rented and the tenant is holding over. The tenant would normally have the first right of refusal to purchase, but he has not paid rent in 5-months. So awaiting a court hearing to be granted repossession of my property and courts are backlogged. Anyway, a few questions (1) Should I put it on the market in November/ December or wait until the Spring? (2) Will it still be a seller's market in the Spring? (3) Should I list with Redfin or go with a traditional Real Estate agent? Thanks. [link] [comments] |
| Posted: 29 Aug 2020 08:26 AM PDT I've seen a lot of people post that they are told how strong their offer is, I was also told this when I was still in the market. Do you mean it or is it to soften the loss? [link] [comments] |
| Posted: 29 Aug 2020 04:39 AM PDT I'm looking to sell my apartment in the next year or 2, and I'm trying to figure out how it all works. This is my primary residence and I want to sell it and buy a less expensive home, to be used as my primary residence. My mortgage is paid off on this apartment, and I'm considering buying my next place outright to avoid interest on mortgage payments. My credit is excellent, so I'm not worried about building that, and I'd rather not have any debt if I can avoid it. I know I'm entitled to a tax break, so that's one thing I have a question about. I assume the money that goes directly to my next home is tax-free, and I'm taxed on any of the money I walk away with in-hand? I also need the money from this home to buy the next one, but I need to sell it in order to do that. Ideally, I'd also want to move my stuff from here directly into the new home. Is there a way I can leverage proceeds from the sale of this one to buy the next one? How do I organize it so there's no delay, assuming I can manage to sell and buy/move out, move in, etc within the same time period? I feel like banks might find a way to screw me over if I go to them for this advice, and most of the info I find online is assume I want a mortgage on the next home. How can I streamline this simultaneous sell/buy/move situation? One other question I have. I know I'll be taxed on this money, but I don't have a car in the city I'm in, but I'll need one when I move. I'd like to use money from the apartment sale to buy one, as well as furnish the new place. Do I just have to do that after the fact? I definitely don't want to take a loan out on my current home to get that cash. Are there other options? [link] [comments] |
| Notification of rejected offers? Posted: 29 Aug 2020 07:19 AM PDT I have been shopping for months and have lost out on five offers. I am obviously frustrated but so is everyone else in this market. I just wanted to ask if when your offer is rejected by a seller, is your agent typically notified? Or do they just stumble upon it on MLS that the listing accepted an offer? The reason I am asking is because two of the five offers I've put in I am the one that brought it to my realtors attention that the listing updated to 'under contract' status. Now i don't know if perhaps I notified them just as they were planning to notify me, but I'm starting to wonder if it's normal practice for the buyer to track this before the agent does. I am wondering if I should be skeptical of my realtor, which I don't want to be because I like them a lot. Do sellers agents not notify the agents of the offers they reject? [link] [comments] |
| Posted: 29 Aug 2020 06:38 AM PDT My MiL will be living in the lower level apartment and I don't want her to suffer breathing issues. I know each house is its own case, but in your experience, how easy is it to rectify musty basement level areas? Are these things ever fixable, or generally "that's how it is?" [link] [comments] |
| Beautiful historic home on 'magnificent' property but some traffic noise? Posted: 29 Aug 2020 06:09 AM PDT Trying to gauge how much we should put into improving a home we inherited from my husband's parents. People describe the 15 acre property as 'magnificent' and park-like setting. Everyone who comes onto the property comments on how beautiful it is. The home itself also has lots of character as a historic home. It is located a couple of miles out of the downtown which has all of the restaurants, bars, shops, parks, etc. The region/area in general is booming and has been for awhile. Lots of universities, tech companies, start ups all throughout the region. The only downside to this house is that you can hear traffic noise on the property but the roads cannot be seen because of the thick foliage around the property edges. These are small town roads and not major busy roads but still there is moderate noise with trucks, motorcycles, louder cars. It is much less pronounced on the weekends and in the evenings and certain times of the day. How much does this affect the desirability of a home/property? Do you know of homes in your area that have held their price, desirability, and sold despite being near a road in which there is some traffic noise? Are there enough buyers out there who don't seem to mind this if they love the home/property or is it a real negative most of the time with most buyers? [link] [comments] |
| Second Guessing the Mortgage Company Posted: 29 Aug 2020 04:34 AM PDT We were originally approved through a local bank that we used together. My union has access to this discount program called Buyers Edge and they've been wonderful every time I used them before( I bought a car), they sent me a generic marketing email and one of the recommendations for a mortgage was Bayshore Mortgage Funding. I called, spoke to them and got to the rundown. No fees, no points, all we pay is interest and appraisal. We put all our information in, signed everything, and we waited almost three weeks for the appraisal. Our seller needed to do work around the house and needed the date for appraisal. Our mortgage rep insisted that there was a backlog and that it'd be done soon, finally after one last threatening email from the Seller's Agent our Agent went into meltdown, worked with our attorney and got the following information for us. The appraisal was never ordered, our loan officer quit. We have a few more days until we need a commitment, they rushed the order which charged us an extra $135 on top of the $500. Our mortgage rep sent an email to us stating they'd offer an additional $500 credit for this. We still don't have a date for appraisal and our commitment is 9/5 with an expected closing of 9/14(probably not likely). How can I find out if this mortgage company is legit? I checked a few reviews online and they are pretty good, I do know that it is easy to make reviews though. I know I'm being paranoid, but the way everything is going down is making me worried. They already have our banking and Social Security information, is it possible that this may be a scam? [link] [comments] |
| Location, location, location.. What defines a good location? Posted: 29 Aug 2020 03:57 AM PDT The home I'm looking at is in a cul de sac and within a mile of great schools, Within 3 miles of shopping areas and restaurants, 5 min from freeway/highways, This town has very low crime rate, lots of forest around but also very suburban. Seem like a location that would hold its value? [link] [comments] |
| Posted: 29 Aug 2020 03:55 AM PDT I'm not sure what the proper etiquette is here: I'm not a serious buyer yet, but if I found the right property I could be. I just want to ask a few questions about a property to see if I want to view it. I know an agent who sends me listings every now and again and I have toured a house with her in the past but I haven't signed any documentation with her yet. [link] [comments] |
| Ice Maker Broke Before Closing Posted: 29 Aug 2020 03:16 AM PDT Hello! Our ice maker broke 3 days before closing and on the weekend of course. I emailed the realtor to let him know late last night, but I'm curious if anyone knows what some of our options are. We definitely won't be able to get it fixed before our closing first thing Monday morning. Are we required to fix it? Is there something else we can do? Do we have to buy a whole new fridge and if so, does that new fridge also have to have an ice maker lol? [link] [comments] |
| House showing, mandatory use of booties, gloves, mask Posted: 28 Aug 2020 11:28 AM PDT So my house is on the market and I've told my realtor that when people come to see it they need to wear a mask, gloves, and booties. I am providing hand sanitizer, booties and gloves and I have put a small sign in my foyer stating our requirements. So far 5 or so people have come to see it and, via the security camera, every realtor has told visitors that they don't really have to. Is there any recourse for me as a homeowner to insist on the use of PPE? I mean, I still live here with my three kids -and- I'm responsible for immuno-compromised elderly (my parents, and at work). There's gotta be something I can do, other than insisting on virtual tours only. Also, is it normal for realtors to allow their client's kids (in this case two teenagers) -- or anyone really -- to walk around the house unattended? On my security cam, these two teenagers rifled through my computer desk and opened toy boxes, shelves, etc. They didn't take anything but my concern is covid-19. Any advice would be appreciated. Thanks. [link] [comments] |
| ELI5: Southern California Housing Market Outlook Posted: 28 Aug 2020 03:59 PM PDT Hello all: We were about to purchase our first house. Southern California: Crescenta Valley / San Fernando Valley. We're getting a rude awakening as to the type of market that exists out here. Totally a seller's market, with buyers offering 10's of thousands over asking (or in our most recent loss, the buyer offered up $105K over asking) . Paying in cash. Little to no contingencies. Advice has been: "Wait until it's fall or winter, houses tend to be less expensive." OK, I get that, I've seen that before. "Wait until after the election, the economy may take a hit, and houses will be cheaper." OK, I get the gamble. "The economy, regardless of the election, is not going to instantly recover, it will be doing a 'W' on it's way to recovery, and you can buy during the 'W' at lower interest." OK, I get the gamble. However, there are some other points I'm not following. "Mortgage forbearance will run out shortly. This will yield an influx of foreclosures." OK, makes sense. Buy a foreclosed property. But won't evictions take a while to kick in? Foreclosures are normally a crapshoot in terms of property quality issues. Also, given the amount of $$ in SoCal, what's to stop the same folks who were bidding $100K over asking from buying the foreclosed properties in the same way? Or at least at cost and in cash? We'd like to buy, and we're not sure if the market is going to get better for buyers. TL;DR: California Real Estate, trying to determine when to buy, as the market is heavily tilted towards sellers. Thanks! [link] [comments] |
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