Real Estate: Why are they always naked?! |
- Why are they always naked?!
- Closed today and got the key, it is unreal.
- Were we being unreasonable sellers? USA/TX
- First time home buyer
- Should I buy this place? (Connecticuit)
- Buyer threatening to sue and place lien
- How to respond to counter offer (if at all)
- Sellers not moving out on day of escrow closing
- Buying house from FH’s parents.
- zillow lot lines
- HUD to extend ban on evictions and foreclosures
- Looking to buy my first house!
- Forced heat and central AC vs radiator heat and window AC.
- Mortgage lender dropped the ball, had to transfer to seller’s lender, is the original lender required to pay any fees i incur?
- What’s the Orlando/Kissimmee area RE looking like these days?
- Contingency Rider Release (NY)
- Personal Guarantee for BLoC
- Looking for thoughts on this Easement
- Medical Office Buildings
- NYC condos / co-ops - what does the market currently look like?
- Type of Offers on a House and What's the Best Method
- Can my mom charge rent to my girlfriend?
- How does the price of improvements translate to value for your home?
- Selling a home with a power of attorney
| Posted: 19 Aug 2020 04:42 AM PDT This has happened to me several times during the pandemic...SEVERAL TIMES! So most homes I show tend to be vacant. However, some are still owner occupied. I have never once arrived at a home early for my approved showing appointment. I know most people are still working from home so I was to be as respectful as possible of the owners time. Well...for probably the 5th time this year I entered a home (after knocking and after announcing myself from the doorway) to find another naked person! This time it was a naked man watching wrestling on the couch. Previously it's been a naked man making a sandwich in the kitchen, a naked man using the downstairs toilet with the door open, a naked couple in the backyard pool, and a naked man asleep in a recliner. "Oh, I forgot there was a showing today" is always the response I get. What the heck is going on?! [link] [comments] |
| Closed today and got the key, it is unreal. Posted: 18 Aug 2020 11:07 PM PDT In SoCal OC area, market hot as hell and many of you guys already know. we, at first, didn't even make offer for this house after viewing it, but I am not sure how and why, but the seller ASKED us to take THEIR offer which is 50k under their listing (same as market value). We took it after view it second time. We estimated that the house needs 30k of upgrades, everything is functional and in decent shape, except old carpet, it has no issues, just needs a lot of upgrades). It has 25k paid off brand new solar panel and bonus permitted room. So we are at least getting a 50k-60k deal depends on how you see the bonus room. Escrow started on August 1st and we locked our rate on 3rd at 2.875% right before be jump (To those who doesn't know, in California, when loan amount is over 510k but under 765k, it is called high balance loan and rate is about 0.375 higher than normal loan). Got the key today. The seller is a perfectionist. He gave us the detail record of every maintenance invoice and for the last 43 years and user manual for everything. Holy moly, the organized paperwork weights 30lbs!!!!!! I am still in the process of reading it, which brings a lot of surprises.
One sad story about the seller is that the reason he is selling is because his wife passed away a few month ago at the hospital from natural cause. They installed the solar panel because his wife can't stand the hot summer and their AC is 24*7 running the whole summer. But she passed away less than a year after the solar installed. I will be writing a letter to the seller for all the work he did, I will promise to keep this house well maintained. Anyway, it will be another month-long remodeling journey ahead of me. Just now, my agent told me that this is the first sale from the listing agent, and she is willing to make zero commission (total only 1.5% for my agent) maybe that's why. [link] [comments] |
| Were we being unreasonable sellers? USA/TX Posted: 19 Aug 2020 06:10 AM PDT We fell out of contract on our home purchase yesterday and I am trying to understand if my husband and I were being unreasonable sellers as we pick up the pieces. All of these events yesterday happened in the approximate span of 5 hours. We are selling a starter home (sub $300K price range) built in the early 90s in a popular North Texas suburb. We received 20 offers to purchase our home in 36 hours. With the counsel of our realtor, we selected a full cash offer, over asking price, that was offering a 2 week close as we have already purchased and moved to a new property. The home was inspected on Monday, and we received a copy of their 44 page inspection report and a baseline list of demands with an option extension request. The buyer's realtor ended his e-mail with "we are asking to have until the end of the week to research and explore our options. we are still interested to work this out if you are!" The #1 item on their list of demands was to get enough time to have a third party engineer inspect the foundation. In a near 30 year old house here, it should be understood most homes have had foundational movement. We paid for an engineer to come out to inspect the foundation and source a report that was provided and attached to the listing that stated the foundation was A-OK. The HVAC was also called out, which was understandable and it seems that it was just needing a filter replacement after construction that we did prior to listing. We immediately had a technician out yesterday to diagnose and resolve the issue and provided proof to the buyer within 3 hours of their request. They also noted that the whole house outlets were not GFCI compliant and were also demanding that they all be fixed. We have GFCI outlets in all areas of the home that have water present (bathrooms, kitchen, garage) and the home is up to code for resale based on the time it was built. The other items were very small that we would have been willing to fix under a repair amendment (sprinkler head, a teardrop leak on the garbage disposal). Our option technically was supposed to end on Thursday morning, but they were asking until Friday, citing their engineer could not be out until then. Our initial request was that we were willing to extend out, but we asked the buyer realtor in good faith to work to see if they could find an opening sooner with the engineer as we did not want to be left hanging in the balance for them to fall out of option due to their inspection as we wanted an opportunity to get back live in time for the weekend if we needed to find a backup. Within 15 minutes, they had the inspection moved up to what was supposed to be this morning. We were also getting multiple stories that the buyer was having a medical procedure and was completely out of pocket yesterday and today, yet was responding to the buyer agent and the agent subsequently responding to our agent basically in real-time. They had also stated the inspector the earliest could come out on Monday, yet my agent had worked with this inspector in the past & they work quickly -- and they display proudly on their website and social media that they can come out same day. With the foundation inspection set up for Wednesday morning, we were going to extend the option to end after basically a business day of their receipt of report from the engineer, but we had asked if we could go ahead as part of the extension amendment agree to all repairs that would be done to the home, minus the foundation element, so that we could keep working in good faith to a quick close. After that request, we received a termination notice within 15 minutes. The buyer agent had shared with us that as part of the inspection, the buyer had also paid for a "repair pricer report" that he hadn't received yet that would detail out an estimate for repair of every single little item that was indicated on the inspection. Our thought process here was that we are ready to move on with our request to settle the repair amendment, and it was very clear that we were not going to be able to close within the timeframe originally promised by the buyer and his agent. And it felt like the right time to basically give an ultimatum so we can cut our losses and move to the next buyer. Please keep us honest, did we do something wrong or something we should keep in mind for next time? [link] [comments] |
| Posted: 19 Aug 2020 09:18 AM PDT So I'm buying a home (Texas) for the first time and I just got my offer accepted yesterday. My option period starts today and is 7 days long. I order a home inspection tomorrow. My question is, is there something I should be doing? I know the bank does an appraisal, when is that done? What if they find something in the inspection? How much negotiation can be done between myself and the seller? Any tips are helpful? [link] [comments] |
| Should I buy this place? (Connecticuit) Posted: 19 Aug 2020 08:49 AM PDT Located in CT (within the NYC evacuation zone lol). Saw a house a couple weeks ago, listed mid 300s. Elderly woman lived there and it was all 1970s interior with some needed repairs all over. I offered 35k over asking with 20% down. This is a hot market, but I also think it was probably underpriced a little. Accepted. Get the inspection: needs roof (10k), septic tank (10k), electrical work (5k?), new chimney (10k), and some other less big things. Seller won't move on number or do repairs. Interior is gonna need another $40k to get that looking okay. I figure I'm in for $100k on repairs/improvements, but that won't increase square footage or anything, so it that a good investment? I guess it brings the house near $500k, which is tettering on not being worth it based on comps. I'm not feeling like "wow! great deal I got!" which is kind of undesireable considering all the fixes needed. But this market is so terrible and most of the homes for sale are so gross and weird that I think it might be worth it? I'm like 50/50. Don't love that I have to put so much cash into it up front, either. I don't know. Any tips? I never bought a house before. Thanks! [link] [comments] |
| Buyer threatening to sue and place lien Posted: 19 Aug 2020 02:13 AM PDT Long story short, we have these unreasonable buyers who are in inspection contingency with us that we've been trying to settle. Last Friday they asked for 10k (due to a 25 year old masonry chimney that we've had two separate professionals state is fine) or they wanted to terminate their contract. In an effort to save the deal, we came to the conclusion that we'll credit 4k and there was a verbal agreement. After our attorney sent over the written paperwork, they decided to nag about another minor issue by having their realtor talk to our realtor. As soon as I heard from our realtor I decided to rescind the offer- in hopes of them terminating their contract as i No longer wanted to deal with them as they stated on Friday. Instead, they threatened to sue us for "damages and performance" using litigation lawyers. So although i know they don't have a basis for a case as we only had a verbal agreement, my question is can they place a lien on our house and take us to court and hold up this selling process and cause unnecessary expenses? Our lawyers made it clear they have the acceptable option of just walking away from their contract. Would any reasonable court allow a lien for these buyers who we owe nothing to? [link] [comments] |
| How to respond to counter offer (if at all) Posted: 19 Aug 2020 07:55 AM PDT We're pretty seasoned home buyers - this will be our 4th time buying. It's a hot market here - we've already lost out on two bids. Both were over asking price and within the first 24 hours of the listing being active. We found a house we both love but it's way over priced. They originally purchased for $288k, did a few renovations (new hardwood floors, new carpet, professional painting being the top 3 most expensive) and then listed for a year later in 2019 at $448k. It didn't sell even after several price reductions. They relisted Feb 2020 for $389k. They have since dropped down to $359k and have been at this price since the end of June. I'm pretty sure they're banking on the neighborhood selling the house - most of the houses are in the 400/500s... but are also significantly larger. So keep this all in mind. It has been on our locally very hot market now for 189 days with ZERO offers. We put in their first offer... 12k below asking, asked for 5k in closing, and offered 1k in DD and 500 in EM. I fully expected a counter and was pretty sure we would meet somewhere in the middle (as was their agent and ours). They responded back with full asking price, no closing, 1k in DD and 2k in EM. So not only did not budge on price or closing, they are also asking MORE for the EM. Their agent is supposedly frustrated with them (which is besides the point) and didn't bother to send the offer over in official documents - it was sent in a text from their agent to ours. We both really love the house but are baffled by what game they're playing. Are they expecting us to agree to their terms (because we're not), not wanting to sell to us (idk why, unless they've decided not to sell at all??), or are trying to get us to come up on our offer (which we had intended to anyway, just not to full asking). We're struggling to decide if we should just walk away or respond. I know at the end of the day, it's a personal choice and depends on how much we want it. But I've never encountered this tactic before in negotiating offers so I'm unsure of what their intentions are. Was our initial offer THAT unreasonable? Obviously they may think so and are entitled to their opinion, but generally speaking, we didn't go in trying to lowball or be insulting. [link] [comments] |
| Sellers not moving out on day of escrow closing Posted: 19 Aug 2020 07:52 AM PDT Escrow is closing today (Wednesday) and I am supposed to be moving in tomorrow (Thursday) morning. Last night, the seller emailed me saying they won't be moved out on time and need 24 hours, overlapping with my scheduled move. I need to be moved out of my current place on Friday and can't find a company able to do a last minute move for Friday. Is there anything I can do to force seller to move out on time, today? And if I were to proceed with any action, is it possible for seller to delay escrow closing by a day to counter? [link] [comments] |
| Buying house from FH’s parents. Posted: 19 Aug 2020 10:09 AM PDT We are buying FH's parents seasonal home in another state (VT). We are not using a realtor, as it's their house, but doing a mortgage through his parents. We have a meeting later today with an attorney to discuss questions regarding the sale, and the process. I have a couple in mind (property transfer tax, possibly other fees we may be unaware of), but could anyone suggest questions to ask him that maybe I haven't thought of? I realize it's asked in a very broad way, but this is our first real estate purchase and I would love input on things I haven't thought of! [link] [comments] |
| Posted: 19 Aug 2020 09:26 AM PDT I'm assuming zillows lot line map overlays are auto-generated and not actually based on records, as i see a lot of irregularities, can anyone confirm? [link] [comments] |
| HUD to extend ban on evictions and foreclosures Posted: 18 Aug 2020 10:49 PM PDT Just saw this news. Looks like it will be extended till the end of the year. https://www.politico.com/news/2020/08/18/hud-foreclosure-evictions-ban-397960 [link] [comments] |
| Looking to buy my first house! Posted: 19 Aug 2020 09:15 AM PDT Hello! I found a house I like on Zillow/HAR and Zillow assigned me a random realtor in my area. The property owner's information is listed on both apps, do I really need to involved this realtor if I'm sure this is the house I want? [link] [comments] |
| Forced heat and central AC vs radiator heat and window AC. Posted: 19 Aug 2020 08:37 AM PDT What is everyone's thoughts on buying a multifamily with radiator heat and window AC vs forced heat/central AC? When I first started my search I would immediately disregard these properties, but after doing some research it seems like it could benefit the landlord with lower potential maintenance/repair costs. Just looking for general thoughts and input [link] [comments] |
| Posted: 19 Aug 2020 08:03 AM PDT First time homebuyer and found a great rate with a lender. Went through the entire process with them and had reached closing week and the estimated closing day. They chose my estimated closing day to let me know they were unable to process my loan because they cannot get CPM approval to approve the condo project. Something they just dont do but other companies do. They tried to be sneaky and sent me a very confusing email about trying to cover up the fact that they dropped the ball and something about transferring my loan to their competitor. I called to clarify and my only options were fall out of escrow or start at square one and find a new lender. Thankfully the seller's lender was able to beat their competitor and honor my rate, but now i have to go through the entire process over and am being asked for new appraisal fees and im pretty sure there will be additional ones somewhere. Since this is the original lender's fault for not being able to complete their service should they be the ones to cover my appraisal fees and any other fees i incur as an inconvenience ie an additional month'a rent? All other lenders i spoke with have said approving the condo project should have been the first thing they did before starting any loan process. It's been super frustrating to the end and have to start over. [link] [comments] |
| What’s the Orlando/Kissimmee area RE looking like these days? Posted: 19 Aug 2020 07:27 AM PDT I'm from out of state so I cannot make a fair assessment of what the market is like in that area especially when it comes to townhomes and condos. I see plenty up for sale on Zillow but I have not looked at it from a historical perspective. I am looking at a possible investment property and would like insight if you're willing to share. [link] [comments] |
| Contingency Rider Release (NY) Posted: 19 Aug 2020 07:18 AM PDT So this is a long one but trying to figure out how to best approach this situation. I made an offer on a house at asking over a week ago, 2 days after it was listed. The seller accepted a little over a day later knowing I was contingent but was motivated and was listing and selling my home quickly. Fast forward a few days later after I posted my house the same day, they send a text to my agent telling me not to bother with my inspection because they are taking a higher cash offer. I knew very little about the contract so I agreed and assumed it was over. Only to find out the next morning that I had 3 business days to sell my home and release my contingency. This gave me until Monday of this week. This Monday I got an offer over asking on my home and convinced them to waive the inspection for 5k in seller's concessions as an effort to keep my other contract alive. They agree and we get all the paperwork together for the contingency rider release and my attorney's office sends to the seller's attorney around 4pm. At 4:34pm they acknowledge that they have received the email. The next day they send a long email stating: ATC13(A) The Sales Contingency Rider allows delivery by (1) Personal Delivery, (2) Overnight Delivery Service, (3) Fax and first class mail within one business day after faxing, (4) First Class Mail, and (5) Certified mail and first class mail within one business day after the certified mailing. The Sales Contingency Rider does not allow for delivery by email. As a result they say they are cancelling my contract. Turns out the offer is 5k more than mine and the seller has now offered me an addendum to match the offer. My lawyer at the same time responded with: Paragraph ATC 13(B)(6) of our clients' contract. Emailed and acknowledged receipt of the removal of the sales contingency with supporting documents constitutes sufficient notice of the contingency removal pursuant to the contract. We have a binding and enforceable contract at this juncture. I'm nervous I'm going to lose this house getting caught in the legalities. Should I pay the 5k and be done with this or has anyone dealt with something similar and think I should wait it out? I'm afraid she will pull the deal soon and not sure how long this legal thing can go back and forth. [link] [comments] |
| Posted: 19 Aug 2020 06:47 AM PDT Personal Guarantee for BLoC I was just approved for a business line of credit. I will using this line of credit to fix up a house and eventually sell it. The house is being used as collateral, but they also want a personal guarantee. I'm too happy about that. It's a business LoC with the real estate as collateral. It's not clear why a personal guarantee is required. Is this typical? [link] [comments] |
| Looking for thoughts on this Easement Posted: 19 Aug 2020 06:26 AM PDT Looking at a new build on a particular lot and was wondering the thoughts here on the easement. It's a 20' Utilities and Drainage Easement at the back of the property. I've talked with the city and they said at most, a variance for 8' could be allowed if I go through and file with the city council and all. This would make it a 12' Easement, instead of the 20'. The lot is just leveled right now, no structure, so it's hard to get a grasp for how much space this all really is. [link] [comments] |
| Posted: 19 Aug 2020 06:25 AM PDT I am looking at a Medical Office Building for sale. What are some things I should look for when evaluating the deal outside of the basics? I've listed some questions below but would appreciate any thoughts. Is it better to have 1 large tenant (75%) and 5 small ones or 10 small tenants? The current leases are gross. What sort of premium in terms of cap rate would you look for over NNN for the added risk? How would you change your valuation if tenants have only a year left on their leases versus if they had 5+? [link] [comments] |
| NYC condos / co-ops - what does the market currently look like? Posted: 19 Aug 2020 06:14 AM PDT I am in the market for a pied-a-terre and looking for a studio / small 1-br in soho/noho/tribeca. I am just wondering, for those folks that know the city well, what are prices looking like now compares to last year? I am anticipating a dip due to everything going on right now and I'm trying to time my entry at the "bottom" of the market. and i know, i know, i shouldnt try to time things but i'm also looking to stretch my dollar. appreciate your insights! [link] [comments] |
| Type of Offers on a House and What's the Best Method Posted: 18 Aug 2020 05:44 PM PDT I'm curious what type of offers you've found the most success. Excluding cash offers of course.
[link] [comments] |
| Can my mom charge rent to my girlfriend? Posted: 19 Aug 2020 05:58 AM PDT I joint own my house with my mom. It has my name and her name on the title. I'd like to have my girlfriend move in but I'm pretty sure my mom is going to cause problems knowing her reactions with me having my own autonomous relationships. I'm 33 and I pay the utilities on the house. My mom pays the taxes. I'm in Michigan. Just to be clear my mom does not live with me. She and my dad have their own big fat house to live in. They're also in Michigan. [link] [comments] |
| How does the price of improvements translate to value for your home? Posted: 18 Aug 2020 08:09 PM PDT I'm looking to see how the money that I've put into my home in the form of improvements translates to appraisal value. My specific goal is to drop PMI. I purchased my home a year ago and have made upwards of $30,000 in improvements. In order to make the requirement to drop PMI, it would have to have picked up about $25k in value. I can have the bank conduct an appraisal to see where I am at, but I'd like to see if there is a resource that would let me know ballpark numbers for how certain improvements can impact the homes value before I incur that cost. I can list specific improvements that are made if needed. [link] [comments] |
| Selling a home with a power of attorney Posted: 19 Aug 2020 05:47 AM PDT I currently live in a home owned by my grandfather who has severe Alzheimers. My mom and Aunt have his power of attorney. I want to buy the house, but the power of attorney is in MD and the house is in SC. When speaking with a real estate agent, they mentioned that sometimes a power of attorney from one state can't sign off on the sale of something in another state, and told us to check into it. So basically, I'm wondering if a power of attorney in MD can sign off on a real estate sale in SC. Thanks in advance. [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