Real Estate: Realtors with vastly different listing prices for my home |
- Realtors with vastly different listing prices for my home
- Need objective advice on level of investment.. Am I being rational or emotional?
- Sellers Realtor didn't disclose our offer to seller. Feeling frustrated.
- Landlord who use simplisafe, any success? Is it worth it?
- Home 4 sale with active lease through 2021, Redfin "Make an offer, skip the agent"
- Pipe bursts and destroys house on its first day on the market.
- What are the requirements for avoiding capital gains tax on home sales due to job change?
- Can I tell which houses are currently rented under section 8?
- Officially Under Contract to Buy My First Home
- Would it be out of line to write the seller a letter?
- Can a buyer switch a agent before the commercial contract of sale is signed?
- We just moved in!
- Freaking Out (rant, advice appreciated)
- Question for the realtors. Do buyers ever ask someone to split property?
- How much does it cost to to become a Home inspector
- Is it possible / ethical to send a gift to our lender?
- Just accepted a job as a mortgage LO in Mountain Brook AL, need advice
- [PA] Friend is selling me his extra house, but he owes back taxes
- Lien never recorded as Satisfied?
- Refinance loan comparison -- which one??
- Help! Home value is being assessed.
- How do I get started with a USDA RD Loan?
- Our seller won't vacate the premises!
- Taxes raised while under contract
- Townhome vs small ranch vs patience
| Realtors with vastly different listing prices for my home Posted: 09 Sep 2020 06:37 AM PDT I have had three realtors come look at my home to list it. We are in a area a few hours outside of a major US city and the market around here is insane. Houses are being sold within days of hitting the market, mostly above asking price. There are bidding wars going on and its mostly people from the city moving here paying with cash and no inspections. The first realtor suggested listing at 545k and it would be sold within days, the next realtor suggested 599k. The 599k realtor is the one we both liked the most, aside from his number. We were not even going to have the other realtor come but we had asked her about a property she had listed and she asked to come see the house so we let her. She said we would "maybe be touching the 4s" as in 400k. What is the deal with that? the 400k realtor does sell a good amount of real estate in this area but so do the other two. I would say the other two do even more business than the 400k realtor, and they do more high end real estate at that. I am now slightly worried, shes making us wonder if the 599 and 545 realtors are not even in the ball park of reasonable? Or is it possible she just threw out a number that wasn't researched? Do realtors ever try to really low ball a listing to just move it faster? [link] [comments] |
| Need objective advice on level of investment.. Am I being rational or emotional? Posted: 09 Sep 2020 04:31 AM PDT TLDR: is a mortgage equivalent of 4 year's salary (before tax) too excessive? Hi. Firstly thanks for reading. I'm all set to buy a property but my ex-husband has me now convinced I'm making the wrong decision. Looking for objective assessment please. After selling the family home I have a decent deposit. The children and I made a list of everything that makes us happy, content and makes a place feel like home. After getting rid of the extravagant, we decided that a 3br house with one living area and a flat garden where we could play, have friends over and trampoline was what we wanted. The mortgage on this would equal four years gross of my salary. I am still young enough to take out a 30 year loan. Tonight he told me I was being ridiculous and that I should be aiming for a place that would only mean I have a mortgage equivalent of two years gross income. A place like his. This means an apartment, but the kids will be fine not having a yard, as they are fine when they stay at his place that has a communal pool and tennis court. Before today, I thought that a new home was the right thing for me, the kids and pets. Was I delusional and dreaming too big? Or did he just undermine my decision and belittle my choices making me feel small. (Looking back over the years he has had a narcissistic tendency to make me doubt my own strength and influence me to always do what he says). Sorry, probably too emotive for a real estate subreddit. But thanks for reading to the end. I'd love your opinion. [link] [comments] |
| Sellers Realtor didn't disclose our offer to seller. Feeling frustrated. Posted: 08 Sep 2020 01:11 PM PDT Hello r/RealEstate Kinda want to vent and see if this is how it is. Saw a multi-unit for $485k. We've been looking for a while and this was in great shape. Spoke with the homeowner when looking around and I fell in love. Offered $550k and FHA. The realtor came back saying that they want to go conventional. Conventional would completely wipe out my savings and I'd have a property that needs some work and no savings. It is definitely rentable right now. We were bummed out about it. I stopped by the property, I know its a big no-no, to talk to the lady. I grew up in the neighborhood and wanted to see if there was anything reservations she had about the loan. She was super nice and we chatted for a while about a lot of things. I told her my offer and she didn't know about it. The realtor had only told her that there was a high one but that the house wouldn't qualify for FHA. My realtor invests in multi-unit in the area and sees no problem that it would qualify. We even offered that if it didn't qualify FHA that we would go conventional at $520k. The realtor was excited about that and wanted us to send it over. The seller said she had 2 showings yesterday and she would definitely talk to her agent. I feel like I've done all that I can and the cards might be stacked against me. Its frustrating that the realtor wont work with us or even disclose offers to their seller. She was floored by the amount I came in at and I feel like maybe this is just the way things are? We've been outbid before, no big deal, we had to pull out because of covid and my job, it happens, but to be so close and knowing you're coming in higher yet still being pushed aside is so frustrating. Any insight? Is this the nature of the beast? Anything else I can do? Thanks for reading. Edit: took some advice from people here and dropped off a signed offer. Realtor immediately called mine and said a def NO to FHA. Mulling over it but having my savings ran through is a lot. [link] [comments] |
| Landlord who use simplisafe, any success? Is it worth it? Posted: 09 Sep 2020 08:24 AM PDT I just recently bought the simplisafe system with active monitoring. I have placed signs in front of my vacant rental. I have a door sensor and motion along with extra decibel. I bought the SS system after my vacant unit broken into and someone stole the appliances. My question is has anyone had success with the SS system. Doe the SS sign deter break in? Was the system worth it? [link] [comments] |
| Home 4 sale with active lease through 2021, Redfin "Make an offer, skip the agent" Posted: 09 Sep 2020 09:33 AM PDT Home- Found a home for sale that has an active lease until July of next year that the new owner must honor. I have already asked the realtor what the rental terms are so I know im not stucl losing money every month until the lease ends but any other things I should be asking. Im curious but unlikely to get a straight answer as to why they are even selling the place if they have an active lease, I also asked if the tenants are currently honoring the terms (i.e. paying the rent on time). Any other things I should be thinking about? So also just curious I just saw this feature on redfin.com where I can make the offer myself with their step by step thing any thing I should consider if going that route? It says you could save the seller around 5.5K which could be used for negotiating a lower price. [link] [comments] |
| Pipe bursts and destroys house on its first day on the market. Posted: 09 Sep 2020 07:26 AM PDT Posting for a friend* She and her ex husband are selling the house they owned together. Yesterday was the first day the house was on the market and today was the first round of showings. A pipe in the bathroom on the top floor of the house burst and flooded the house for about 4 hours (neither the viewers nor realtor brought this to anybody's attention) and ruined the house. They do have insurance on the house but beyond that are clueless as to what this means for selling the house now, what insurance will assist them with, and how to go about selling a flooded/severely damaged house. Thank you in advance for any advice or assistance 🙏 [link] [comments] |
| What are the requirements for avoiding capital gains tax on home sales due to job change? Posted: 09 Sep 2020 08:47 AM PDT Hi there! I am about 15 months into owning my house. I have recently been promoted to a new outside sales position at my company. I would like to relocate to a different location in order to be closer to a major airport. It is not a company requirement, but would assist with my job. Does this meet the job change exemption for home sales capital gains tax? [link] [comments] |
| Can I tell which houses are currently rented under section 8? Posted: 09 Sep 2020 06:56 AM PDT Is there a way for me to see which houses in my neighborhood are currently rented to section 8? All of my searching is pulling up how to find available section 8 housing. I am considering providing housing to section 8 tenants in the near future. However, right now I am only aware of two near by houses that rent to section 8 tenants, and unfortunately they are both "problem" houses. I don't expect this is an accurate representation of section 8 tenants, and I don't want to base my decision on that alone, I'm sure there are other section 8 tenants near me that are not problem houses. I would just like to know how many and do a quick drive by to see how the properties are looking. It seems reasonable this information is intentionally not available though, is that the case? [link] [comments] |
| Officially Under Contract to Buy My First Home Posted: 08 Sep 2020 05:25 PM PDT Finally got to put in my offer and had it countered for 2k mor than my initial and accepted. I am going to work on getting the inspection set up tomorrow by getting prices and availability and I am so excited. Already approved for a loan and working toward a FTHB program my bank will have available at the start of October. Seller knows and all is good. Either way I have the down payment. If the program doesn't pan family will gift it so all good. I didn't have much hope before this but I am so excited. The home is pretty old so getting inspection in case it comes back with something big. I don't anticipate any problems but we'll see. It will need carpet removed and vinyl put in. SORRY rambling a bit. This sub has been super helpful and I was ready for it and what comes next. Anywho, when it is all done, hopefully by Halloween, I'll post my story with more details. BTW, I live in a pretty small town and got an offer in for 10k under asking. It has been on market for a year and ten months mostly due to a miniscule yard and lack of a decent detached garage. So yeah all good for me as I am blind and need neither of these things to deal with. Also no plan to move in my future. [link] [comments] |
| Would it be out of line to write the seller a letter? Posted: 09 Sep 2020 05:42 AM PDT There is a cute house hitting the market on Friday. I'm thinking there will be a lot of competition. My fiancee and I were thinking we'd write the Seller a little "hello, we love your house!" type letter with little profiles of who we are and what we do. Obviously we are hoping that we can make the largely transactional nature of home buying a little more personal, which would hopefully give us a leg up on some of the competition. Would this be out of line? We hear so many different opinions on stuff like this. [link] [comments] |
| Can a buyer switch a agent before the commercial contract of sale is signed? Posted: 09 Sep 2020 06:26 AM PDT Hey guys - So we found this property that we liked and called the agent that was selling the property. He send us a LOI for us to fill out and sign. So the terms are agreed upon and a commercial contract of sale was sent to us. It seems that the seller and the agent are very close friends. We are afraid that he will favor the seller in this transaction and not really look out for us. So is it possible to use our own agent to help us with the purchase? My main concern is the commission since the agent would be out on 3% if another agent was involved. Can you guys please give me your thought? Thank you! [link] [comments] |
| Posted: 08 Sep 2020 10:33 PM PDT Just bought our first house. Spent 5 months looking, did the offer/counter/rejected/keep looking dance with 4 houses until we found this one. Ticked most our boxes and we like it more each day. Best tip I can give is to really spend some time on your final walk-through, or even better, do a couple thorough walk-throughs. Flip all the switches to see what they do (yes we have a mystery switch) and ask where the water shut offs are (I cant find the sprinkler system shut off, suspect it's under the house). Anywho, our process was overall quite smooth. Good luck out there. [link] [comments] |
| Freaking Out (rant, advice appreciated) Posted: 09 Sep 2020 07:35 AM PDT Sold our house, found a new one and found out today my husbands credit is 550 and we aren't approved for shit. Last we looked it was over 700 and I don't know how to tell him or what to do and we can't back out of our own sale [link] [comments] |
| Question for the realtors. Do buyers ever ask someone to split property? Posted: 09 Sep 2020 09:43 AM PDT For example, someone selling three acres for 30k, would it be a reasonable request to ask if they'd be willing to sell one acre for 11k-12k? Wasn't sure of this is something that's in bad taste to even ask, and if it's something that does happen is there much chance of seller obliging? Thanks for any help. [link] [comments] |
| How much does it cost to to become a Home inspector Posted: 09 Sep 2020 05:56 AM PDT I'm paying around $4k for just the classes and with my test,my license and other thing at the end I'll be paying 6k in NJ. Is it over priced or that's just the average cost of it? [link] [comments] |
| Is it possible / ethical to send a gift to our lender? Posted: 09 Sep 2020 09:18 AM PDT Without going into tedious detail, our lender has gone above and beyond for us during the process of buying our home (closing tomorrow). There was a super unexpected, last-minute snag that our processor and underwriter helped us through, staying late, logging in on their days off, etc. My question is: is it possible to send a gift (like flowers or wine) to say thank you? When I search lender gifts, the conversation is all around using gifts for a down payment, but I actually want to send my lender a gift. Is this allowed? [link] [comments] |
| Just accepted a job as a mortgage LO in Mountain Brook AL, need advice Posted: 09 Sep 2020 09:13 AM PDT I am trying to find the best pre license course that can help me to pass the exam my first try. I have looked at many but cannot find helpful reviews that are not disguised as ads. I hope to spend 10 days studying and to take the test immediately after. I would prefer a short (5 day) course so I can study on my own some. [link] [comments] |
| [PA] Friend is selling me his extra house, but he owes back taxes Posted: 09 Sep 2020 06:07 AM PDT Hi all, As stated in my question, I'm wondering what would happen in this situation. My buddy has an extra house I'm living in, and he's decided to sell it. (not COVID related, he just doesn't want responsibility of it anymore, and has other priorities he has to tend to) He's giving me a chance to buy it, but as stated in the question, he is delinquent on property taxes (I believe it's between $1,000-$1,500 in taxes) I've searched all over the internet but can't seem to find an answer. What would happen in this situation? Thanks in advance for all help!! [link] [comments] |
| Lien never recorded as Satisfied? Posted: 09 Sep 2020 07:54 AM PDT I'm hoping this is a thing that isn't like super common, but also not super uncommon... I bought a house 15 years ago and at closing, there were two mortgages from the previous owner. One of them apparently was a line of credit. Flash forward to today, I'm trying to sell the house and that line of credit is still showing as open. There aren't any judgments or anything against the house, so I'm assuming the bank didn't file the paperwork or it got lost or something. The line of credit was opened in March of 2005 but not actually filed until march of 2006, so I'm guessing the bank sucks at paperwork, it's a wonder we knew about it at all, I closed in Sept 2005. I already have a call in to the attorney who did the closing for me, they're pulling the records. I'm assuming this isn't going to be like an act of congress to fix? Anyone else go through this before? [link] [comments] |
| Refinance loan comparison -- which one?? Posted: 09 Sep 2020 07:27 AM PDT Hoping for some input on my situation::: Current loan - 30-year fixed @ 3.875%Original Loan size- 771,500. Currently owe 726,000 (refi amount, no cashout) Current P%I is 3600. Location- NYC. Both lender will do CEMA for me. Loan 1: 2.69% (1/2 point).... par rate is 2.9% A+B+C = 11453 P&I = 2941 Loan 2: 3.375% (par rate).... 3% ($5k in point) A+B+C = $5106 P&I = 3073 Thoughts? I'm leaning towards loan 1 for obvious the lower rate. Even w/ the higher loan cost -- I feel I can recoup that quick enough. My breakeven point will be well within the timeframe I plan on staying. [link] [comments] |
| Help! Home value is being assessed. Posted: 09 Sep 2020 10:31 AM PDT I'm applying for a refi. My home will be assessed in a few weeks. What will they be looking at? Should I spruce up my bedrooms? My college kids bedroom needs a good cleaning. Will they be looking at those things? My other child who moved out her room is full of stuff. It's become a storage closet. Is this an issue? [link] [comments] |
| How do I get started with a USDA RD Loan? Posted: 09 Sep 2020 06:38 AM PDT My husband and I are looking into getting a house through the rural development program. I have done some research and we are just under the income limit for our area. We both have credit scores in the "very good" range. I'm just looking for information from people who have gone through the process or who have experience with it. I was let go due to covid and am now working a temporary job with potential to become permanent after 6 months. My husband's employment was not effected. Are we even able to get a loan with my job being temporary? I have about 15k in student loans and he has 20k. I also carry a balance of about 1.5k on my credit card which I have been paying down. He has about 4k on a credit card. We have enough in savings to fully pay the credit cards off but decided to wait because of uncertainty with covid. We also have about a 10k car loan. Our monthly debts come out to be just over $750 and we bring in about $4500 a month. Is that too big of a DTI ratio for this loan? What is the first step in applying for a USDA loan? Should we first find a realtor or a lender? How do you go about finding a lender? Should we reduce our debt ratio before applying? My husband is due for a big promotion next summer after he completes his degree. It'll be +25k a year, which will put us over the income limit by about 20k, so we are hoping to get this loan before then. Otherwise, it will be a few years before we can buy while we save for a down payment on a conventional loan. Does that seem like a reasonable timeline? [link] [comments] |
| Our seller won't vacate the premises! Posted: 09 Sep 2020 12:35 AM PDT We closed today and our seller is STILL in our house! She still had some clothes and a couple closets that she needed to pack up when we did our final walkthrough at 8am, but she had 4 adults and 2 teenage boys there and said that they'd get it all out and the house clean within "a few hours". We signed our documents at 2pm and when she showed up at 3pm to sign, she tells my husband she needs his phone number so she can call to let us know when she will be out....because she's gonna need more time to get her things out. He told her that all communication would be done through our real estate agents. At this point, are we just screwed and basically at her mercy? The police say this is a civil matter and neither of the agents involved in the transaction will step in...they got their money so they're done with us, I guess. Their broker refuses to answer my phone calls. Seller's saying that she's gonna send someone tomorrow to get the rest of her crap. Isn't that considered trespassing at some point? I'm so, so, so upset right now! I work nights and I've been awake for almost 24 hours because of this CRAZY WITCH who won't get the heck out of our new home!!! I don't know what to do. [link] [comments] |
| Taxes raised while under contract Posted: 08 Sep 2020 11:42 AM PDT Need advice. We are in the middle of purchasing a condo, just about to complete the appraisal and mortgage application when we are notified that the taxes on the condo were raised $1600. Now in the long run the taxes don't effect our budget that much but the current condo owner put in an appeal for the taxes. Our attorney says he thinks we cannot take over the litigation (tax appeal) and that if we are going to fight this and try to pull out we need to start paying him $300 hourly rate as this is outside of our agreed upon terms for this home buying process. I don't know what to do, pull out or stay in and try to deal with the litigation. All these unexpected fees are now surfacing from this all because the current condo owner didn't show up to allow the tax evaluator into the condo to assess. Help! We don't want to lose our down payment trying to fight this :( [link] [comments] |
| Townhome vs small ranch vs patience Posted: 09 Sep 2020 09:01 AM PDT |
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