Real Estate: My mother and my aunt (who loathe one another) just inherited my grandparent's house 50/50. I'm being gifted my mother's half through probate and I'm trying to buy my aunt out. Help |
- My mother and my aunt (who loathe one another) just inherited my grandparent's house 50/50. I'm being gifted my mother's half through probate and I'm trying to buy my aunt out. Help
- Is it normal to "interview" potential realtors when seeking a buyer's agent?
- Is there a sub for posting pics of weird, disgusting, and crazy houses you come across?
- Selling home with renovations without permit
- Taking a break from home search. Its a frenzy out there (Orlando)
- Need advice on paid off Townhouse
- RedFin estimate is pointless
- HOA and home occupation businesses
- How can I buy run-down, abandoned country homes with lots of land?
- Why or why not are you deciding to buy right now?
- Better.com should be Better not come!
- Is it possible to buy a house from another country
- Sell my home to a friend using a real estate lawyer: horrible idea?
- Can I ask Seller to lower sales price for a low appraisal if i waived appraisal contingency?
- How to class up my road
- If a house is selling near its appraisal value is that indicative of a good deal?
- Are there loans for purchasing a home that needs full gut/remodel?
- Townhouse living question
- How common is it for agents to get kick backs from their vendors?
- USC student needs direction and advice.
- What are some upgrades for a higher end rental?
- What would you do?
- My family and I NEED to find a house.
- Buying a new construction - When are costs added up/acknowledged for "upgrades"
| Posted: 27 Sep 2020 02:03 AM PDT Background: Both of my grandparents slowly died from alzheimer's disease. I lived with and took care them for 10 years. That's why my mother is being so cool about willing her half of the house to me. My aunt wants nothing to do with the house and 5 acres (that's going to have to be separated from the remaining 100 acres that will become a solar farm). So I just need to purchase her half. Having lived there, I know all the problems with the house. Plumbing, electrical, water damage to the ceiling drywall and attic, but I'm buying "as is" seeing as I can remedy most of it myself. But, the AC doesn't work... in Georgia... where it tops 100° regularly. Like I said, everything except for the AC, I'm ok with, but if I was a third party buyer I'd be knocking off thousands from any offers for these problems. This is where I need advice. Purchase price. Here's what's happened so far. My aunt hired a real estate agent to look at selling the house months ago. She looked around the house, probably checked some comps (this is a very poor rural area and it's hard to find comparable sales) and gave my aunt a figure of $120K list price. It's just not worth that, but oh well, that's just the list price anyway, right? Now it's time to make the deal, so I got started. I looked at the tax assessor's value and it seemed spot on, without penalizing for the defects. I'm paying cash so I made a very generous offer. The assessed value plus a little more than what the land is actually worth...$50K(that makes the house and land $100K total). My aunt hates my mother, but she and I have always been cool. I thought she would see my offer as a good faith jesture. I really wanted this deal to be as fair and transparent as possible. Well, she seemed insulted and turned it down saying she has a buyer willing to pay $120K, sight unseen. She's full of shit. I hired an appraiser and she insisted that she had already had an "appraisal" done. I explained the difference between the agent's valuation (duh, commission) and an official appraisal. At some point I said I wanted a unbiased, licensed, third party appraisal. Well, she got offended and questioned my use of the term unbiased. After all, she "wasn't even going to use the agent" (but she wants the whole $120K for herself?) and "the agent was new in town" and "they had never even met. How could she be biased?" You see where this is going. Anyway, I hired the appraiser and even let her accompany me to meet him. After a few days we had the result...my offer was off by $1000. My offer had been fair. I wrote her an email to let her know my offer was still good and she texted back "I'm holding out for $120K." She has no intention of listing it. And any third party buyer would never even offer what I did, especially if they had an inspection done. She desperately needs the money, but she's pissed because she's been planning on getting $60K in her hand before my grandmother even got cold. What should I do? Edit: I wasn't clear about this. She is entitled to 50% of the proceeds. So when I said I offered $50K, that was me buying her half. [link] [comments] |
| Is it normal to "interview" potential realtors when seeking a buyer's agent? Posted: 27 Sep 2020 07:22 AM PDT Potential first-time home-buyer here, going through the process of reading all the "how-to" and "tips" articles ever written on the internet. Many of them suggest the best way to find a realtor that will work in your best interest is to interview them - asking questions about years of experience, asking for references, asking what neighborhoods they're most familiar with, how many clients they helped buy a home in the past year, and so forth. It's not something any friends or family who have bought homes have done - I think they basically just go off a friend's recommendation. I just want to make sure it's a normal and accepted practice and not just something people write about on the internet. Assuming it is an accepted practice, how would you initiate that kind of conversation. Just like, "Hi, we're looking for the services of a realtor and would like to have a brief conversation to see if you'd be a good fit?" It feels a bit weird since I'm the one soliciting their services and not the other way around. [link] [comments] |
| Is there a sub for posting pics of weird, disgusting, and crazy houses you come across? Posted: 26 Sep 2020 11:27 AM PDT Just came across a listing and in one of the mls photos their is a filthy toilet bucket sitting in the shower... There's gotta be a sub for this stuff, right? [link] [comments] |
| Selling home with renovations without permit Posted: 27 Sep 2020 04:59 AM PDT I built a deck on top of an existing patio without a permit bc the process to obtain one would be longer than 6 months and require extra money to get a lawyer to usher through the process. Now we are considering to sell our house.... Can I sell the house in its existing state without the permit? If I disclose it to the buyer can they handle it? Or would I need to bite the bullet and get fined etc to get a permit to sell? Or even worse, would I be forced to tear down the deck? EDIT: home is currently in NJ [link] [comments] |
| Taking a break from home search. Its a frenzy out there (Orlando) Posted: 27 Sep 2020 08:52 AM PDT 5 offers. 4 at list price, 20% down, closing costs paid by me. Most homes are getting offers 1-3 days after listing. Selling for 10% more than they were early in 2020. Only inventory left are from people dumping their airbnbs mostly fully furnished. Location is not fit for a SFH because of all the short term rental environment and insane HoA fees. I guess its time to call it quits until this whole thing dies down. Even realtors shop full price offers around just because there is so little inventory to choose from. Crazy to hear other states going 100k+ over list price. I guess no area is immune. Anyone in the same position? And what timelines are you looking at? I was really hoping to spend Christmas in a new home, but here's to next year! [link] [comments] |
| Need advice on paid off Townhouse Posted: 27 Sep 2020 07:40 AM PDT Hello everyone, My wife and I own a townhouse that rents out for $1200 a month. Tenant is great. We pay $350 per month in hoa, $120 for rental property management, and about $200 per month (paid annually) for tax and insurance. It's very low maintenance and we plan on keeping it. However, I would like to get another property or two to diversify. I don't want to sell this condo because it's very easy. However, is there an easy way to take $70k out of the property to put as a down payment on 2 rental properties? A heloc doesn't seem appealing and the cash out refinance seems like an option but have only been offered 50k with the institution we typically use. What would you do in this situation? Other points: 1. We owe $100k on our homestead 2. Total debt other than that is $70k in mostly student loans (low interest) 3. Household income is about $130k Thank you for help. [link] [comments] |
| Posted: 26 Sep 2020 09:18 PM PDT They say themselves that the list price affects their RedFin estimate on homes. Almost every home I see has an estimate within 1 or 2K of the list price. What is the point of even giving an estimate if your just going to peg it to the list? [link] [comments] |
| HOA and home occupation businesses Posted: 27 Sep 2020 07:04 AM PDT Does anyone know anything about appealing an existing bylaw in a home-owners association? For clarification, I want to do a home-occupation business (legal in my town!! Literally an application for it on my towns website that is recent but my HOA has no info on it) but it is against my neighborhoods HOA bylaws as of 9/23/2020 (bylaw was instated in 2002), the day I brought it up in an HOA meeting. Is there anything I can do to appeal this 18 year old bylaw? One that hasn't been brought up in nearly two decades, despite one of my neighbors being an independent cable contractor for the past 8 years and another neighbor "baking for donations" out of her home (food-related businesses out of ones home being illegal in my city). Literally all I want to do is bathe and groom the neighborhood dogs and cats. My HOA "forbids" it despite allowing other folks who have lived there longer to do whatever. I want to know the process of getting a bylaw appealed in a Home-Owners Association. Please and thank you. Feel free to reply for more info if needed. Or to link me to the appropriate subreddit. Thanks in advance. [link] [comments] |
| How can I buy run-down, abandoned country homes with lots of land? Posted: 27 Sep 2020 04:38 AM PDT I am planning of moving out to the Polish countryside, where average home prices are between $40-90K and some apartments and run-down homes fall as low as $20K. But I want something cheaper than that. I was recently inspired by noticing a lot of abandoned palaces/villas come with HUGE amounts of land for relatively cheap prices. Some of these hundred year old palaces are completely in ruins, so only the land is valuable here. I know the best deals are those which aren't on the market, but how do I go about finding owners of something completely abandoned? I travelled to a few local villages and noticed some properties in complete disrepair. I had my eye on a specific property in a small village (a few hundred population). I asked a neighboring store owner if she knew who the owners were, and she said yes, but that they left for Germany over 30+ years ago. Since then, she hasn't seen anybody. The place was overgrown with bush, broken windows, spiderwebs, but it looked like there was a lot of land. Some of these country homes have acres and acres of property. I'd love to low-ball some offers but don't know how to maneuver around not knowing who the owners are. Thanks in advance. [link] [comments] |
| Why or why not are you deciding to buy right now? Posted: 26 Sep 2020 09:25 PM PDT My husband and i have decided to make the jump into homeownership! I know there's a lot of back and forth about whether right now is a good time to buy or not but we've decided we're ready for a home and ultimately trying to time the market just doesn't matter. We live in LA proper and the market is insane. We're trying to stay patient but part of us just wants to throw in the towel and wait it out. Curious as to what is motivating others or making you wait it out! How is everyone coping with this crazy time?! [link] [comments] |
| Better.com should be Better not come! Posted: 27 Sep 2020 05:45 AM PDT This lender is not the way to go! They tell you that you are approved and have you spend $500+ for an appraisal and then tell you that they can't refinance you because of a recent job change. Credit wasn't an issue, but a job change that showed more income was the reason we were given that they couldn't refinance us. What was worse they had the audacity to tell us that we could not use the appraisal that we paid for. I don't know about you, but I don't have $500 laying around to just hand out needlessly. I have told everyone I know to steer clear of this racket! [link] [comments] |
| Is it possible to buy a house from another country Posted: 27 Sep 2020 09:17 AM PDT I was wandering if I'm able to use my husband's income from another country to buy a house in america I am a us citizen and he is from the UK and is in the UK right now the houses in my area are rather cheap right now but I don't think I could get it with just my income am I able to use his and if yes how? [link] [comments] |
| Sell my home to a friend using a real estate lawyer: horrible idea? Posted: 27 Sep 2020 05:13 AM PDT |
| Can I ask Seller to lower sales price for a low appraisal if i waived appraisal contingency? Posted: 27 Sep 2020 07:50 AM PDT |
| Posted: 27 Sep 2020 07:19 AM PDT I live on a country road with roughly 20 other houses. I love it here, and I like most of my neighbors. However, they are somewhat yokels. The houses are in good condition, but there are several random things on this road that sort of imply that the people who live here are hicks (preachy religious signs, jacked-up trucks, overly-enthusiastic political signs, etc) . I personally don't really care, but my wife overheard some joggers commenting on it and it made her a little depressed that this is the impression people get of our road. We have a farm with some road frontage and we want to signify to people who drive by that "people of education and reasonable class live here", without looking like snobby dickheads. For example, we want to put up a "little free library" because it will signify appreciation for literature but it doesn't really have any negative connotation. What are other features commonly seen in classy, old-money rural areas? Does anyone have any similar simple ideas that help de-bumpkinify my property? [link] [comments] |
| If a house is selling near its appraisal value is that indicative of a good deal? Posted: 27 Sep 2020 07:06 AM PDT Say I'm looking at two houses: House A and house B Both houses are listed for $300K but house A has an appraisal value of $295K and house B has an appraisal value of $250K. Could you say that house A is a better deal than house B / that house B is overpriced in comparison to house A? Or are there so many other factors that it would be foolish to assume that? EDIT: I was confused. By "appraisal value", I was referring to "tax assessment value". [link] [comments] |
| Are there loans for purchasing a home that needs full gut/remodel? Posted: 26 Sep 2020 06:34 PM PDT I have been looking at a house for sale in my area on a large piece of property and love the land.....and the house could be awesome too but needs pretty much everything. House was built in 1925 and currently vacant, old wood shake roof with old tarps, deteriorated porches, interior water staining etc. The home is on 20 acres and they want $400K I am no stranger to gutting and re modeling homes so that part of it does not worry me. The part im curious about is if there are any loans out there that I could get to purchase a home like this. Possibly a variation on a new construction loan that would allow me to add on and remodel the existing structure? I think the home would be too large of a project for a 203K rehab loan....those seem more like for cosmetic fixer uppers. The house would be worth in the neighborhood of $800K remodeled. I currently have about $200K in equity in my home so not enough to sell and purchase/do the work unfortunately. [link] [comments] |
| Posted: 26 Sep 2020 07:55 PM PDT I have lived in a single family house for 30 years. I am thinking of downsizing to a townhouse. Where I want to move all the townhouses are like 2 or 3 floors and attached in rows. I am worried about 2 things: the noise from the neighbors coming through the walls, and a neighbor who smokes. I like to sit out side, and even if I put a fence up if the neighbor smokes ( which is totally their right, it's my issue) the smell will drive me crazy because we're so close. If you live or have lived in a townhouse, can you please address these issues, and tell me anything else about the pros and cons of townhouse living? [link] [comments] |
| How common is it for agents to get kick backs from their vendors? Posted: 27 Sep 2020 05:09 AM PDT We just heard something we weren't aware of - that it's common for real estate agents to get "kick backs" from the vendors that they recommend to you for repairs? For instance they may push you to fix some plumbing on the house before you sell and the plumber they recommended is actually giving them a cut of what he's charging you. Has anyone else experienced or heard about this? [link] [comments] |
| USC student needs direction and advice. Posted: 27 Sep 2020 05:01 AM PDT Hello, I am a USC student majoring in Business Administration, emphasizing Real Estate Finance. Transferred from CSULB, kinda rough especially now with Covid. Senor in my last year right now. I graduate in May 2021. I am 21, 22 in February. Only have a 3.0, I can probably like to get an "A" in all my RE finance class and say I have a "4.0" or something on my resume Few small a\*dministration assistant /leasing/ residential manager/ property assistant rent gathering, excel basic, electric and stuff hard skills, small remodel construction,* internship, and jobs. No real "analyst" roles or experience. I plan to get my CAM (Certified apartment manager certification), CA RE LIS (real estate license), argus modeling (UCLA extension), REFAI certificate and excel LVL 1,2,3 (Just real estate finance thing I got roped into for a club). All hopefully by my May 2021 graduation date. Just became a property manager for a 16 unit in Ktown, (In august) I know the landlord (she is not here ever, and not into real estate, she ismostly on the east coast hiking, she got the property after her mom died) I basically do everything, except paying back the security deposits and handling the money ( I probably will tho soon, ex-tenants always get mad she is never on top of it). I do all the leasing and cash all the checks tho. It's a nice place/studio apt, I get free rent for this studio $1400! She is testing me out for 6 months, but I do good work, installed an 8 unit camera system that she can access on her phone, leased 2/3 of the vacant units in under a month, they were vacant / people leave with coronavirus, installed privacy fences, organize keys etc etc etc. Know about real estate stuff like covid things we have to send out etc. She is utterly clueless.... Will probably live here a while, hopefully! Anyways, I really want to be RICH. I am crazy determined, every job I've had I've gone above and beyond, becoming essential. I want to work two jobs like some people I know who are really motivated, save up for a year, and buy a tri-plex, get multiple revenues, refinance, etc. Need help in finding a second job, or just one... Prob gets any job as a property manager, assistant property manager, real estate analysis, LAHSA rent analysis, performance mgmt etc etc. Idk?? What do you guys think, how much can I make? what jobs should I go for? is going for a 60k+ property manager job to ambitious?? All the jobs add say I need 5+ years of experience and stuff. They seem too official for a freshie college student like me. I mean I've been doing RE and stuff since I was like 10 with my family and all that. Working doing the rents etc. So I am pretty confident. I know Yardi pretty well. I am VERY hardworking tho, I will not quit, I do what needs to be done, I always do the hardest jobs and do it the right way every time. Every time I go into a job, I clean the whole desk and office, organize all their stuff I literally can't slack off, I am just crazy... I mean passionate!! (job interview lol) Anyways, What jobs can I get at night? What jobs can I get during the day? What should I apply too? How much should I ask for? Anything would help! -D [link] [comments] |
| What are some upgrades for a higher end rental? Posted: 26 Sep 2020 03:58 PM PDT Tenants just moved out after 6 years ;( and looking to do some upgrades This is my primary/rental I rent upstairs and live downstairs and looking to make the upstairs just a bit better. I just put in a new Bosch dishwasher, all new outlets (some with USB and others with built in night light) and switches. Kitchen and bathroom are pretty much up to standards. Rent is $2800 So, if you were to do some upgrades, what would they be? [link] [comments] |
| Posted: 27 Sep 2020 03:36 AM PDT If you were a property dealer, how would you deal with a situation where your clients comes to you, checks the property and later contacts the seller directly and makes a deal with him. What will your creative solution would be in such a circumstance??? [link] [comments] |
| My family and I NEED to find a house. Posted: 27 Sep 2020 03:28 AM PDT My husband and I just separated from the military (honorably) we are looking to purchase a home closer to his new employment. He will be making about 80k annually. Currently we are about 1 hour an 45 mins from the new job with 3 months on our lease. Our rent is 1100 and we love the community but an hour+ commute is seems to be too much for my husband. Right now we a paying 80 a day for him to stay in a hotel so that he can make it to work. We don't want more than 200-250 worth of house but we seem to only either see houses that are too expensive or far too torn up to live in, I mean even the shacks on Realtor.com are 100k. Renting in the area doesn't seem feasible either because the average rent in this location (Waldorf md) averages 1400+. We have a family of 4 and even if we do see another place for around 1100 to rent it's always in a poor neighborhood. I'm not sure what to do at this point. [link] [comments] |
| Buying a new construction - When are costs added up/acknowledged for "upgrades" Posted: 26 Sep 2020 06:40 PM PDT Hi All, Recently I offered(and accepted) on a new construction. At the time, the foundation was down, but nothing else. Outside of the spec sheet, we are beginning to go through with contractors on how we want the house built. Today, I walked through the house with the electrician and builder(builder was just perusing the house), and I began to specify where I wanted outlets/plugs and what kind the spec sheet reads "Four telephone outlets, Four cable outlets, and two exterior electrical outlets are included. (Unless otherwise previously installed)." I decided not to go with any telephone outlets, but instead want Cat6 cabling/outlets ran through the house. Does the builder have to approve this work, or does it get done with a "blank check" and I will be responsible for the cost regardless? I also asked for an extended deck which I was given a rough estimate, irrigation (TBD for estimate), hardwood floor upstairs in hallway(was all carpet everywhere), and a few other changes. When are these costs actually calculated? Is it a blank check that automatically gets added to the initial offering price for the house, or is there something that needs to be signed to acknowledge the additional cost for items like this? Thanks for any advice. Just trying to get a better idea of what the total price will be. [link] [comments] |
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