Real Estate: Boyfriend off the deed? |
- Boyfriend off the deed?
- Selling our first house, but it's not selling
- A relative left my dad a life estate in some land in the eighties with the life tenancy to terminate at the time of my dad's death and the real estate would then belong to me. (more in comments)
- Decided not to move. Should we compensate our realtor somehow?
- Cash-out refi to purchase a house in cash and keep current residence as rental - good idea?
- Housing development planned and its effect on my property.
- RADON Our realtor changed her story
- First time buyer looking to buy my grandmother's home. I have some questions.
- Mislead in listing about adjacent common space
- Thank You gesture to builder?
- Thinking about offering my tenant to buy my condo?
- I've signed a rate lock loan estimate, is it too late to negotiate?
- Buying a home in Oregon, USA; it needs a lot updating; how much should I put down?
- How important is the appraisal for a refinance?
- Preparing to buy new construction in North TX
- Are there any upgrades/maintenance items that won't show up or increase the value of the house in an appraisal?
- Can my wife and I use both of our incomes on a mortgage even if I just started a new job?
- How'd you choose which type of real estate you wanted to invest in?
- Seller Refuses to Fix Inspection Issues
- Seller Rejected Offer First Time Home Buyers Please Help
- Sump Pump or Emulsifier giving off A LOT of heat
- Can a married couple also have a co-signer?
- What's the ideal ratio for money spent on land : money spent on house when you are buying land + building?
- Georgia- Buying from an estate
| Posted: 07 Oct 2020 08:38 AM PDT Boyfriend and I own a home together on 5 acres of land that was given to me. Both of our names are on the deed. We are in the middle of a split up and have come to an agreement I will give him 100,000$ so we can move on with our lives and I will keep the home in my name. Making sure all my bases are covered and wondering if that's all I have to do is get him off the deed and pay him out, will everything else be all set and I won't have to deal with him after that? [link] [comments] |
| Selling our first house, but it's not selling Posted: 07 Oct 2020 08:58 AM PDT My husband and I are currently trying to sell our first home. We bought it 7 years ago as a foreclosure and put a lot of effort into remodeling, updating, repairing, etc. After we recently had our third child, the house was starting to get a little too small for us and we reached a point of "do we spend money to do a major overhaul and renovate the remaining areas of the home, or do we just move?" Well, we decided to just move. Which has been a great decision. We found a home that's double the size, in a better school district, and doesn't need as much overhaul renovations as the other house. Also with the market currently being as hot as it is and home loans having record low interest rates, we thought now would be a good time, and that our home would sell quickly. I should also mention that the renovations we have completed were the kitchen, main bathroom, and main living areas. The work left to do to the house is mostly cosmetic, and we considered adding another bathroom before we decided to move instead. Fast forward to today – the home has been on the market for 36 days, listed for $285,000 (recently dropped from $300,000). We've had about 12 private showings and 3 open houses. There have been interested parties, but no offers yet. We've had good traffic on Zillow and overall, there doesn't appear to be a reason this house hasn't received any offers… Our realtor feels that it's priced right for the size & location (we are located within walking distance to a very popular neighborhood district in our city, and right up the street from a major medical college & hospital). Across the street from us, townhomes are under construction that are selling for $600,000! And they're selling! I'm at a total loss as to what to do next. Edit: Sorry, should have included the link in the original post, hope I'm formatting this correctly: link Does anyone out there have a similar experience with a good outcome? I'm completely stressed and heartbroken that no one seems to love this house the way that we do. [link] [comments] |
| Posted: 07 Oct 2020 08:32 AM PDT My dad died recently. My relative always meant for me to sell the property as it never had any sentimental value to our family, and was never a homestead or anything like that, so I've always planned to sell it. It appears to be worth about $1M. What's the best way to go about figuring out the tax basis for property like this? The relative passed away almost 35 years ago. Thanks for any input. [link] [comments] |
| Decided not to move. Should we compensate our realtor somehow? Posted: 06 Oct 2020 07:18 PM PDT Would it be appropriate to give something (a gift or giftcard or even cash) to our realtor for his time? We fully intended on buying a house. Our realtor drove 40 minutes to get to one showing, the others were within 15 minutes of his home. We made an offer on 2 homes but got beat by other offers. We are sort of burned out and have considered just staying put and doing some renovations on our current house, which is nearly paid off anyways. If we decided to look again we would definitely use him as our realtor. I just hate feeling like we wasted his time. [link] [comments] |
| Cash-out refi to purchase a house in cash and keep current residence as rental - good idea? Posted: 07 Oct 2020 08:41 AM PDT Current home value is ~750k with remaining principle of 288k on a 15 year, 3.125% with monthly payments of 2800 for PI I am planning on upgrading primary residence to one costing around 1.1m. I have 760k in capital to put towards the purchase. Original plan was straightforward - use the 760k as down payment, take a new 30 year loan. Then I thought that maybe I should straight refinance my current home first, which would lower our DTI to 1100 for PI. Then I realized that if I could cash-out refi, I could get about $312k out of it. Add that to the $760k capital and could buy a slightly cheaper house, 1.05m in cash (+closing). This would keep the mortgage on my current home, which would become a rental, which means that it would be tax advantaged for us because we currently take the standard deduction due to the $10000 SALT limit for a married couple. So this seems like a pretty good idea to me, I suppose other than the higher interest rates from refinancing? Any thoughts? Would this basically just be spinning wheels or would I get some benefit from it? [link] [comments] |
| Housing development planned and its effect on my property. Posted: 07 Oct 2020 01:53 AM PDT Hey all, My wife and I purchased a home in 2018 in the country. We paid $328k for the property in Ottawa Ontario and the land itself is surrounded on 3 sides by acres and acres of forest and rural land. Earlier this year the city changed the zoning rules to include our area for home development and bids are already starting. There is currently a bid to build 35-45k homes around our house turning the whole country area into another cookie cutter suburb. What will that do for my property value? Our home is a 4 bedroom 2 and a half bath bungalow. Our property is about half an acre in the back. Id rather not live in the suburbs and would likely move farther into the country, when would be the opportune time to sell? Thanks!! [link] [comments] |
| RADON Our realtor changed her story Posted: 06 Oct 2020 08:14 PM PDT Hey, we're buying a house and have been working with the same realtor for a while. I've gotten annoyed from time to time with her behavior (slow to respond, slow to schedule viewings etc.) Anyways we finally found a cute little house in our price range and a decent location. We're nervous as first time homebuyers and the one issue was that there's high levels of radon and we have a young child. However when we were walking through the house, I mentioned my concern about the radon and she said that the seller was installing a radon mitigation system. Both my husband and I were part of the conversation and he remembers it too. Based on that and with encouragement from our parents (because we're nervous nellies) we placed an offer on the house (full price because of the market). We were in second place and moved up to first! After going under contract we've had nothing but issues with our realtor - we had to redo the purchase agreement 3 times, she wouldn't get documents to our mortgage lender in a timely fashion (it took a full week for her to send the purchase agreement, despite me reminding every day) and then most recently she said she was concerned about the high radon levels and recommended we have it retested. I said ok, but the radon mitigation system resolves that issue. She then said that she doesn't remember ever saying the seller was installing one and that they likely won't. I got really upset and she said she'd recheck with the sellers realtor. I've asked her for follow up information several times since and she's ignoring me. At the time we thought she was a good fit because she's the owner of a prominent realty in town, but she's constantly forgetting dates, details, and gaslighting me. I'm not sure how to proceed at this point. Radon is a serious issue and we went under contract with the belief that a mediation system was being installed. Feeling pissed off! [link] [comments] |
| First time buyer looking to buy my grandmother's home. I have some questions. Posted: 07 Oct 2020 08:18 AM PDT So the time has come for my girlfriend and I to buy a home. We were looking a while ago, but my family has been telling us to hold off and buy my grandmother's house, which is in a great neighborhood that we likely wouldn't be able to afford without a family discount on the home. I'm interested in what the pitfalls of buying from family may be down the road. Right now my grandmother has been moved to a nursing home out of state and we are living in the house. My dad, aunts and uncle are all set to split her estate equally when she passes, but right now she's still in the nursing home. The family has offered us a 50k discount on the home, which is believed to appraise in the 350-400k range. My question is how to we go about the purchase timing-wise? I've heard that if we buy that it's possible that we could be liable for additional costs of her nursing home care and there's also a possibility of some kind of huge tax situation due to capital gains...things I'm not going to pretend to understand which is why I'm asking here. Does anyone have any idea how to go about making this as clean and simple for everyone? Right now we're staying there rent-free as the house is paid in full. We're paying the utilities and that's about it until we can make the purchase. Is there anything else we need to know here? Anything else we should be doing right now? Thank you! [link] [comments] |
| Mislead in listing about adjacent common space Posted: 07 Oct 2020 11:48 AM PDT The home we just purchased is in a neighborhood with an HOA. There's about 1/4 acre of land between our house and the house next to us, basically just a grass field. In the MLS listing it's called "common space". We found out after moving that it's actually owned by a church as access to property they own behind our neighborhood, although it's currently not being used. That property also backs up to another road that would make more sense to have any entry/exit. It seems very unlikely that this would ever be used as an entry/exit, but the whole reason we bought this house was due to it's dead end street with this little "buffer" from our neighbors. Do we have any recourse? Thanks in advance! [link] [comments] |
| Posted: 07 Oct 2020 11:29 AM PDT Is it standard practice to give something to the super who has done the work on our new construction home? Yes we've given them a lot of money already but the super has been great about fixing things and walking us through stuff. What would you give as a thank you? [link] [comments] |
| Thinking about offering my tenant to buy my condo? Posted: 07 Oct 2020 07:21 AM PDT I own a condo in MA and I currently have it rented out to a tenant for another 11 months. The condo under the one I own just went for sale and is in worse shape than mine but going for a good price. It got me thinking...maybe I should offer my tenant to purchase the place she's in. She's been living there for going on 3years now. I dont want to post it for sale and lose her or anything but if she wanted to buy it I would sell directly to her. Is this a bad idea? Not really sure if I did this if i should go through a real estate agent who knows what to do or just try to wing it and find a real estate attorney? How does one just ask a tenant this? And from there what would the steps be. Anyone been through this or have any advice? [link] [comments] |
| I've signed a rate lock loan estimate, is it too late to negotiate? Posted: 07 Oct 2020 11:03 AM PDT I've signed a loan estimate and lock in agreement, given the rates are still trending down can I ask them to cut some fees or lower rate? It's 2.750 rate with 1k in origination fee (which seemed fine since the 1k got it down to where I pay less interest for the year, earn more principle and spend 25 less a month, essentially a 600$ annual swing) If possible I want to see if I can ask em to cut the origination fee but that may not be feasible given the application -- i have not signed yet on the loan, they are running the app. [link] [comments] |
| Buying a home in Oregon, USA; it needs a lot updating; how much should I put down? Posted: 07 Oct 2020 08:44 AM PDT We are in the process of buying a 1960's ranch style home, that needs some major updating; the bathrooms haven't been touched since it was built (think Brady Bunch yellow sinks/toilets, and pink penny tile floors). There are two bathrooms. Aside from the baths, we also want to upgrade to a gas furnace, replace one window that has it's thermal barrier "popped', plus other upgrades. I'm curious about other peoples experience in buying a house that needed work, and how much they put down; do you wish you had put less down to have more in your pocket for upgrades, or the opposite, where you wished you had lower payments and more equity? Generally, the swing is this: at 20% down we'd only have $9k left for upgrades, 15%= $30k, 10%= $51k, and 5%=$72k The payments at these different amounts are all in our price range. So, let me know what you think we should do! [link] [comments] |
| How important is the appraisal for a refinance? Posted: 07 Oct 2020 08:38 AM PDT I bought a condo this past winter and decided to refinance this fall so I could reduce my monthly payments. I just locked a great interest rate and will be getting a date for an appraisal soon. My question: how important is the appraisal? I'm not pulling any cash out and I expect to hang onto the condo for more than five years. The apartment is in good shape. Since I bought it, I painted over the neon colors the walls were painted and installed a dishwasher. On a day to day basis, then place looks good. I also fixed a couple minor plumbing issues Is it worth it to go full HGTV to prep for the appraisal? Take post cards off the fridge, buy some fake plants for the back patio, move my countertop appliances off the counter, have cookies in the oven? I'd rather not spend the time or money unless it's actually important [link] [comments] |
| Preparing to buy new construction in North TX Posted: 07 Oct 2020 10:15 AM PDT Hi everyone - I've researched and researched new home buying, what to expect and so on. I wanted to ask some specific questions that I just haven't found answers to:
Finally, anything specifically that I should be asking before I sign the purchase contract? I have an extensive list of questions already but I'm a big fan of being prepared. Thanks! [link] [comments] |
| Posted: 07 Oct 2020 07:49 AM PDT Recently bought a house and the appraisal came in at the exact amount we paid. As I'm making small alterations, window dressing, door hardware, I'm noticing the general craftsmanship seems to be lacking. The studs beside the windows don't seem to be uniform around the house and vary in width, so sometimes I can drill into it and others I need a drywall mount. Some of the windows aren't even level. The moulding doesn't meet the floor in a lot of places and where the previous homeowners did some reno it appears the floor doesn't meet the moulding, either. In a lot of places they drilled up through the floor from the basement for cables instead of dropping them from the easily accessible attic. Are people generally more attentive to the details than we are? We have plenty of time to fix this stuff, but it seems weird if it wouldn't affect any future appraisal. I know house values are based what comparable homes in the area are selling for, but isn't it weird if it doesn't take into account that quality gap between doing it yourself and having a pro do it? [link] [comments] |
| Can my wife and I use both of our incomes on a mortgage even if I just started a new job? Posted: 06 Oct 2020 09:37 PM PDT My wife and I are wanting to buy our first home. She has been at her place of employment for just over two years. I've just recently start working again after a 2 year gap. Can both of our incomes be considered on a mortgage? [link] [comments] |
| How'd you choose which type of real estate you wanted to invest in? Posted: 07 Oct 2020 11:50 AM PDT There's storage, industrial, medical, retail, hotel, SFH, etc. Is it just that you went with whatever type you thought would thrive the most in the future? How did you decide on your criteria for those types? Also, any advice you wish you knew earlier on in terms of networking with other RE investors and lenders and brokers? I've got the time and I've got the internet connection. I'm just not sure what questions I should be asking them. [link] [comments] |
| Seller Refuses to Fix Inspection Issues Posted: 07 Oct 2020 11:31 AM PDT Hi folks, My septic/water/inspection report specified a few issues to be fixed. The water is acidic and outside of the EPA acceptable range, and the septic system has a pinched pipe that needs to be replaced. both of these may not be huge issues now, but could get expensive if untreated. The house is a bit pricey for the area, and my accepted offer was for the asking price with an inspection addendum. I like this house, but really think for what I'm paying they should fix 2 issues that failed the inspection. Is it typical for a seller to just outright refuse to negotiate at all on issues like this? Is it unheard of to back out of a contract if they refuse these repairs? [link] [comments] |
| Seller Rejected Offer First Time Home Buyers Please Help Posted: 07 Oct 2020 11:10 AM PDT Hi Reddit Fam! My husband and I are looking to buy a home. We saw a home we both really liked but it's been on the market for 60 days with two price cuts. It originally was listed for 1.5M then cut to 1.4M. We offered 1.3M but the selling agent didn't even counter us with a formal counter.... The agent basically said they've received an influx of new viewers (still no offers) but told us we can resubmit a new offer and they'll reconsider. We had our agent nudge them for a formal counter but they didn't. We aren't willing to negotiate against ourselves so we never resubmitted a new offer. Now it's been on the market for 65 days now... so it seems no new offers have been made. We both really like this house but 1.4 is overpriced for the market, we would have met them at what the house should be priced at which is 1.325-1.35. [link] [comments] |
| Sump Pump or Emulsifier giving off A LOT of heat Posted: 07 Oct 2020 07:14 AM PDT In my basement i have a sump pump and emulsifier. (Not sure which is which). But these 4 inch PVC pipes give off a LOT of heat when running. And of course the pipes run across my kitchen flooring and I can feel the heat coming off from my flooring. My question is this: are sump pumps or emulsifies supposed to give off that much heat when running? Any clarifications would be great. [link] [comments] |
| Can a married couple also have a co-signer? Posted: 06 Oct 2020 10:47 PM PDT My husband and I want to get a higher home loan amount, can we use his mother as a co-signer? Ideally we'd like to just have the home loan in his name with his mom as a co-signer, without me on the loan, is that an option? We can afford the monthly mortgage payment well enough, it would be around 15-18% of our combined income, but neither of us has long employment history. [link] [comments] |
| Posted: 07 Oct 2020 06:51 AM PDT We've just started playing with the idea of selling our house in the city and going ~25 minutes outside to live on an acre or so and build. But I'm kind of starting to think our budget may not be enough and we need to either wait/save, or go further out. I spoke to one builder who estimated that the house we'd want would cost $325k to build. Well, that's a little more than we thought so now considering re-shooting our budget into the $500s so we can afford a more expensive lot. But this builder said that once the lot is $200k+ it "only makes sense to build a $700k house on it" So I'm curious to hear your thoughts! Why does it only make sense to have a $700k house? What am I missing here as a consumer and not a professional? [link] [comments] |
| Georgia- Buying from an estate Posted: 07 Oct 2020 10:19 AM PDT So, here's the situation. A friend of the family passed away earlier this year. Her mother is the beneficiary of the estate. MY mother is the executor of the estate. The beneficiary would like to sell me the house. I'm reading up on probate sales though, and I keep reading about how it has to go through auction in court. Is there a way that this can be avoided? There is money owed on the house still, so it can't just be given to the beneficiary. [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