Real Estate: I’m never selling a house again! |
- I’m never selling a house again!
- Sharing inspection
- Complete newbie trying to buy a house.
- Has anybody purchased the first (and only) home they viewed in person?
- is this the right place to ask?
- Money for Windows
- First time home buyer getting droves of IRRRL notices
- Is a realtor supposed to do much more initially than sign us up for their MLS portal?
- Should I waive appraisal contingency?
- How do I cancel a contract?
- International Real Estate
- Flip houses with no money: legit or scam?
- Looking to buy after a foreclosure
- WWYD? - New to it all - Aspiring homeowner/investor
- How long is too long to wait for a contract?
- "lease for a year" before selling? Legit, or scam?
- Help me understand
- How thorough is the VA appraisal inspection?
- Need some Renting Help!
- Property manager transition, how to do it?
- (FL USA) When is a realtor supposed to disclose that it is their own house they are selling?
- Buying 2-unit property with tenants in one unit that have not been paying rent?
- Three different Buyers pulling out
- Not able to decide quickly enough on houses - should I take a break from looking?
| I’m never selling a house again! Posted: 15 Sep 2020 07:02 PM PDT Seriously this has been the most stressful thing I have ever done. From 20+ showings in the first week (with 2 kids and a dog), to picking an offer (which went from conventional to FHA), to finding out my roof has damage from a storm 06/20 (getting replaced now), to now finding out they can't get an appraiser out until October 10 (we were supposed to close September 30) and then close on October 15 (which I highly doubt the turnaround time for the appraisal will be 5 day including whatever the bank has to do after they get it). We were also supposed to close on our new house out of state on October 2 but now that's out the window too. I'm just soo over this. Rant Over! Haha [link] [comments] |
| Posted: 16 Sep 2020 08:28 AM PDT Hello- I'm selling a house I bought recently and my realtor is asking if I want to share the inspection report. Most things have been addressed on it but a few have not. I live in NC so an as - is no disclosure state. Is there any downside to showing them inspection and proof of most repairs ? [link] [comments] |
| Complete newbie trying to buy a house. Posted: 16 Sep 2020 08:22 AM PDT ETA: It have been explained that these numbers not tied together. Thank you!! I have a house I like and is within my budget but the tax assessed value is 40k less than what the house is going for on the market. For example: tax assessed value is 150k, house is selling for 190k. The average home in the area goes for 140-200. Is it just because it's a sellers market right now? What are your thoughts? [link] [comments] |
| Has anybody purchased the first (and only) home they viewed in person? Posted: 16 Sep 2020 09:07 AM PDT First time home buyer in a hot hot market. Been looking on Redfin/Zillow for about a year but nothing has ever "checked all the boxes". Yesterday, a home popped up that literally seems like the dream house, hits every one of our wishes and requirements. We've not so much as ever been to an open house and are only just starting to find a buyer's agent. This home's likely to go quick, so just wondering if anybody has ever rushed to buy their first house and how they felt after the fact. [link] [comments] |
| is this the right place to ask? Posted: 16 Sep 2020 07:04 AM PDT If a contractor does work on many apartments in a building that becomes a condominium, and the contractor wants to file a mechanic's lien for $ owed by the owner/sponsor or general contractor to the contractor/lienor, does the contractor/lienor need to file only one mechanic's lien against the owner at the time he did the work, or separate mechanic's liens against each current condo unit owner, altho he did the work for the prior owner of the entire property (who was the developer/sponsor of the condominium)? [link] [comments] |
| Posted: 16 Sep 2020 09:58 AM PDT Hello everyone, my wife and I recently got an offer accepted on a house. The house inspection was good and there were some minor electrical problems that we asked for them to fix as a contingency and they did. We had a few family members present for the electrician to fix the issues and they took a close look around the house. We knew the windows were original to the house (about 30 years old) but our family noticed that some of the frames around the windows were starting to rot and thinks we should replace them right away, or at least start replacing some of them right away. Even though we already made an offer and they accepted, our family thinks we should go back to the sellers and say we noticed that some of the windows are rotting and we were hoping you would give us some money toward replacing them. Is this considered acceptable in the home buying business? It seems like it's our fault for not noticing the windows the first time. Obviously it wouldn't hurt to ask them because the worst they could do is say no. However, I don't want them to feel disrespected by us asking for something like this. Do we ask for money toward the windows or just accept the loss and start replacing them ourselves over time? [link] [comments] |
| First time home buyer getting droves of IRRRL notices Posted: 16 Sep 2020 09:51 AM PDT VA first time homebuyer. Bought a house in March $300k @ 3.25%. I am starting to get crazy amounts of mail about IRRRL and offers of 2.25%. It seems all so "spammy" anyone have links to data about this? Everything on google comes back as Fannie Mae stuff with no substance. Most websites simply say it could be good could be bad but don't talk about what it is and restrictions/guidelines. [link] [comments] |
| Is a realtor supposed to do much more initially than sign us up for their MLS portal? Posted: 15 Sep 2020 04:51 PM PDT I've reached out to a few agents and all they've done is ask a few basic questions to get us into the portal and set up alerts and then it seems it's kind of on us to tell them which ones we want to see. Just wondering if this is what's to be expected or if a great agent would be doing anything additional? [link] [comments] |
| Should I waive appraisal contingency? Posted: 16 Sep 2020 05:39 AM PDT Under contract on a home. All lenders I've spoken with have offered an appraisal waiver. I don't think I "stole" the home, but think I paid a fair price for it, especially given the hot market. Should I waive appraisal in order to save the $500 and shorten time to close? Details below ————- I was unrepresented, and was able to purchase the home for 4.3% below list price. House had been on the market for 10 days in a hot but cooling market. We beat the other offer by a "few thousand" according to the sellers agents. Valuations/Comps: -According to comps, my home is worth between 240 and 280/sq ft. It was listed at 272/sq ft and I purchased it for 259/sq ft. -According to Zillow, my home is with 35K more than I paid for it. (And I am 1k more than their lowest end value) -According to RedFin, my home is worth 12K more than I paid for it. [link] [comments] |
| Posted: 16 Sep 2020 09:09 AM PDT Hi, everyone -- My condo has been on the market for about 65 days with no offers. My real estate agents have made several troubling errors, and I'd like to cancel the contract. (The errors range from not sending revised comps after asking twice, to not knowing the property history or details, to texting me twice with questions about properties that aren't mine, to repeatedly forgetting to tell me that a showing has finished so that I can return home. There's much more, but these are the things that have not inspired confidence.) How do I ask to end the contract, which is supposed to be for six months? By email? What happens if someone who saw the property through them comes out of the woodwork and makes an offer? [link] [comments] |
| Posted: 16 Sep 2020 05:01 AM PDT Hey everyone, just wanted to get peoples thoughts on International Real Estate Investment. Not in North America or Europe. One point that was brought up to me was economic uncertainty and hyperinflation of currency would be an issue, but I thought about it and nonetheless, wouldn't real estate values also go up with hyperinflation? I would like to get more thoughts on this from your perspective in comparison to RE investing within North America. [link] [comments] |
| Flip houses with no money: legit or scam? Posted: 16 Sep 2020 02:29 AM PDT I've been seeing a lot of posts (sales pages) about flipping houses without using any of your own money. Apparently the strategy is to negotiate a price for the house and put it under contract. Then, find a buyer (the flipper) willing to buy the house (your contract) for more than your negotiated price and you pocket the difference. I don't know the first thing about real estate but I know some experienced people have heard of this. I need to know...what is it called and is it legit? I hear a lot about it and how to flip houses with no money down but I know it can't be as simple as paying $50 for a course then making all of this money that easy. People are asking questions in the comments on the original post and the guy selling the course just seems to have all the answers. What's the catch?? [link] [comments] |
| Looking to buy after a foreclosure Posted: 16 Sep 2020 08:20 AM PDT So I did some searching, and found a couple answers regarding other questions, but nothing quite what I am looking for. There were a number of reasons, but I let the bank foreclose on the first home I purchased, and it was closed in 2016. I'm just trying to figure out how much it will affect my rate. .5%, 1%, 2% etc. Here's our situation, I have a score between 750 and 780, depending on which report you look at. I have a vehicle loan @ 3.74% with just under 6k, around 40k in the bank, no other debt or negative reports on my credit. My wife has a score hovering right around 800, also a vehicle loan around the same, she has somewhere around another 20k in savings, and no negative marks on her report. I'm not worried about the max amount, because we'll likely have to do FHA, and the max in our area is around 330k. There's not a lot of USDA stuff around that's not way out of town, though we will look into it if we have to, and realistically I'd like to buy something between 260-280k. I just don't want to end up over 5%. Thanks in advance guys, I really appreciate any info [link] [comments] |
| WWYD? - New to it all - Aspiring homeowner/investor Posted: 16 Sep 2020 08:00 AM PDT I'm a novice in this RE inv arena, 52 yr old (10-15 yrs from retirement), renting at $1100/mth, W2 income of ~$63k, no profit really from side hustles (e-commerce, ridesharing, consulting) in 2020 but still working it for the tax benefits; low 600s credit score due to high utilization (5500 cc, 5000 medical collections), 2+ yrs perfect pay history; I have a few grand in Covid relief to level up my business; My only assets are a '94 pickup I purchased for my biz and 401k; I want to start RE investing but I think getting out of a rental and paying off my debts should be priority; I believe I'm limited to what I can do with the Covid funds so aside from biz purchases, it's just sitting in a regular savings; Ideally, I would like to purchase a home on a piece of land in SC that I can add another small unit to (for airbnb, tenant, or my aging mother); Back to the original question - What would you do if you were in my shoes? I'm learning as I go here. Thanks! [link] [comments] |
| How long is too long to wait for a contract? Posted: 16 Sep 2020 07:39 AM PDT We put in an offer (first time buyers), had it accepted, did the inspection and negotiated a few concessions and now we've been waiting for the contract from the seller's attorney for nearly 3 weeks. I've asked my agent to chase every day and it sounds like their attorney is just backed up. Is it normal to wait this long? At what point do I give them the ultimatum and walk? Could they be stalling for some reason? Thanks [link] [comments] |
| "lease for a year" before selling? Legit, or scam? Posted: 16 Sep 2020 07:30 AM PDT I just listed my house on Zillow to see what the market is like. I got some texts offering to lease for a year before buying. Seems fishy. Has anyone done something like this before? [link] [comments] |
| Posted: 16 Sep 2020 06:23 AM PDT First time buyer here. I'm looking at a house today that went on the market yesterday. It's one of THOSE houses that'll probably be under contract by Friday because of the market right now, in a desirable area, 4b2ba, smallish house and yard, but cute and little work needed before move-in. Here's what I know: 165k asking 150k "zestimate" 105k 2019 tax assessment Zip code average home: 190k Half the interior looks renovated, other half would still need a little TLC from pics. How do I best use all of this information to put in a competitive offer but still not feel like I'm overpaying? Or is that just the reality of the market today? This house might be a flip, kinda feels like it from pics. Thanks in advance [link] [comments] |
| How thorough is the VA appraisal inspection? Posted: 16 Sep 2020 06:23 AM PDT Hello all, I am using the VA loan to purchase a duplex that has additional units built but those units have no permits. I am waiting on the appraisal by the VA and I am worried that they will tell the seller they need to tear down the additional units. The seller is giving me the home at 35% below market value so its a solid deal. [link] [comments] |
| Posted: 16 Sep 2020 06:17 AM PDT I have grown up in a not-so-good household my entire life and have always wanted to get out. I always go to my local house inspections and most of the real estate agents know me because of it. I'm now 18 and earn enough money to leave but there is a couple things on the application that I have questions about so I wanted to ask here for help. Also, for some general location context, I live in NSW, Australia. 1: Proof of Income. 2: Current landlord/agent. 3: References. These references can't be relatives or friends (I barely have friends or relatives anyway) so I don't know what/who else to put. I have never had a previous job so I do not have employers or coworkers, and I have graduated school and have no teacher references either. Is there anyone else that I could put? 4: Asset/Liability report from Accountant. If people could help out I would very much appreciate it, thank you. [link] [comments] |
| Property manager transition, how to do it? Posted: 16 Sep 2020 06:16 AM PDT My PM cancelled service (30 day notice) last week. If I sign up for a new PM this week would the tenant pay my old PM or the new one, how does the transition work? Should I wait a little longer before getting the new PM? Do they start at beginning or middle of the month? [link] [comments] |
| (FL USA) When is a realtor supposed to disclose that it is their own house they are selling? Posted: 16 Sep 2020 06:08 AM PDT There is a house up for sale in our community. Looking at county and social media data I see that the house was purchased by them a few years ago, then sold by the wife to the husband for $100. They recently purchased a new home and both are listed as owners. The wife is the realtor and has posted on community forums about this property, but she doesn't mention that it's hers (or at this point, owned by her immediate family). When are you supposed to disclose that information to a prospective buyer? [link] [comments] |
| Buying 2-unit property with tenants in one unit that have not been paying rent? Posted: 15 Sep 2020 06:34 PM PDT Hi r/RealEstate- I'm looking at 2-unit properties, planning to live in one and rent the other. The agent representing one of these properties said that the owner currently resides in one unit and they are "in the process of evicting" the tenants in the other unit because they haven't been paying rent. This seems like a clear case of STEER CLEAR, but I figured I'd float the question. Is there any way that this can work out alright for a buyer? Especially because there is still a moratorium of sorts in evictions where the property is located due to Covid-19. From what I've gathered, this moratorium is being lifted in 7 days, but I know the eviction process can take months even from that point. Ideally, of course, this would be sorted before purchase and I would not have to deal with it at all. If the seller can't get these tenants out of the unit, should I avoid this situation like the plague? Blunt honesty is appreciated, I know the answer to this question but just want to hear from other investors/landlords if there's any hope. Thank you!! [link] [comments] |
| Three different Buyers pulling out Posted: 15 Sep 2020 07:01 PM PDT Strange times obviously in 2020 but we had three different buyers pull out. Has this happened to anyone before?? I feel like it's shit luck. 1st buyer lost job. 2nd buyer self employed but couldn't get loan for lack of income from April-July. 3rd buyer pretty much ghosted is after the inspection. Inspection did not find anything crucial. Mostly cosmetic. Kicker got an all cash offer for 20k less. Getting ready to take it because I can't take the stress. Appreciate any input or stories. Thank you [link] [comments] |
| Not able to decide quickly enough on houses - should I take a break from looking? Posted: 15 Sep 2020 05:30 PM PDT I currently own a home, and am looking for a new house closer to work and my parents. I've been working with an agent for ~6 months, and have looked at about 20 houses. I'm having a very hard time being decisive enough to make offers on houses same day though. Last time I bought, it was during the recession and I was able to take over a week to decide if I wanted to make an offer and I got to see the house twice. I actually only looked at 5 houses that time, but I think having the extra time to decide worked in my favor as far as being comfortable making a choice. Now, I get to see for a 30 minutes showing, and am supposed to make an offer that night or the next morning. I'm having to compromise on some things I want, am having to downsize my yard and also spend more, so I think this is contributing to my indecisiveness too...I don't like the small yards, but that's all that's available where I'm looking as the only thing I can afford is a newish build with zero lot lines. Should I just stop looking for awhile and try again next year? I've been wanting to move for a few years, but now that I'm seeing what else is out there I guess I have cold feet. And my agent is getting really annoyed with my floundering and I feel bad having her continue to show me houses. She seems to not see this as a big decision, and says if I don't like the house I can just sell it in a couple years...which sounds like it would suck, because then I'll be back here dealing with this again haha. [link] [comments] |
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