- Can’t tell anyone since it’s not official but too excited: 3-days into 40-day escrow, 3% initial deposit wired, 2.5% 30 year fixed locked, physical inspector scheduled for Wednesday, appraisal for next week, let’s do this!
- First time seller question
- Is it true that your offer is less likely to be accepted if you are getting an FHA loan with less money down?
- [TN] I inherited an acre and am thinking about building something small rather than continuing to rent out apartments.
- Agent purchased house without listing
- First Time Home Buyer: Permit violations from previous owner
- Is this a reasonable strategy for buying in a hot market? (Approaching flippers directly during construction)
- Hardwood second floors....
- "Recent survey revealed encroachments on county right-of-way." Nice home listed way under value.. what are the implications?
- Do Buyer Realtors lie about comps & interest in property?
- California Eviction Notice
- Selling First Home - Nerve racking
- Moving into tiny home - fiancé sold his condo - looking to sell mine. Cash from both would pay for TH and land. Getting pressure to cash out my townhouse and rent.
- Looking to buy my first house, what's next for me?
- New tenants during Covid
- How to buy a HUD/Bank-owned (REO) Property before it is listed?
- House with a 50 Y/O Septic Tank
- first time home buyers... scary... advice welcome!
- Is this crack in basement corner bad?
- Lower the floor on your search
- Looking at obtaining a conventional loan through Neighbors Bank, anyone had experience with them? This is my first time at trying to get a loan, don't want to get hosed
- Should I ask for feedback?
- What are some good things to purchase during Black Friday/Cyber Monday for a Spring move-in?
- Obvious but eye opening revelation
| Posted: 06 Oct 2020 12:34 AM PDT I know I have nothing to celebrate yet but I've been looking for over a year in SoCal and the thought of moving to a place I love that I would own started to feel like an unobtainable dream. Over 50 open houses later and my entire life savings sans my stocks and mutual funds gone, I'm hopeful this is the one. My first home purchase (hopefully) as a buyer and with my CA real estate salesperson license so also making back 2.5% of the home purchase price (my license is hung under my father who is a licensed CA broker and he's kind enough to give me the full commission to help out). If anyone has any tips to chill the fuck out during escrow I'm taking whiskey suggestions. Thank you to all the people that make this sub such a fantastic resource. It might not always have specifically what you want but you always learn something. [link] [comments] |
| Posted: 06 Oct 2020 07:09 AM PDT My wife and I are selling our first home, and I am wondering if anyone has anything to suggest we do to help the buyer out. I was going to type up a word document going over a few things I know about the house, (paint colors for each room, boards we used on the deck, etc.) From others perspective, either buyers or sellers, is there some little touch that you appreciated the previous owner doing? Thanks! Edit: Just for clarity, we have a buyer and an accepted purchase agreement, went through the inspection and now the only thing left is the appraisal. This is more so things to make note of, or do for the new buyers. [link] [comments] |
| Posted: 06 Oct 2020 08:03 AM PDT Hi everyone, A family member just sold their house and they are looking into buying a new house. They put an aggressive offer in (20k above asking), and it was rejected. Their real estate agent told them it was rejected because they were getting an FHA loan and not putting 20% down. I have a couple of questions: 1) why does it matter what kind of loan the buyers are getting? They said it had something to do with the appraisal process being more stringent if you aren't putting 20% down 2) you don't have to put what kind of loan you are getting in the offer, correct? Why did the sellers even have to know about the type of loan? I realize I can just ask my family member about this, but I don't want to pry to much because they are my in laws. Thank you in advance for the help and info [link] [comments] |
| Posted: 06 Oct 2020 12:42 PM PDT I recently inherited an acre of land in eastern Tennessee relatively close to Maryville and It's actually closer to my job than my insane commute is. One of my friends recently closed on a tiny little 500 sq foot house (with a basement that doesn't factor into the sq ft) over in Johnson City for just 60k. It was built in 2018, and the land for it apparently went for 3k. It's pretty much an apartment for a fraction of the cost that he's actually putting equity into. I really like that idea. How much would it cost to build a small house like that on the land? I actually have a fair amount of cash I could put up front. Could I build something around 500-1000 sq ft for around 100k? It would be so nice to ditch the apartment bills altogether since I already have the land. [link] [comments] |
| Agent purchased house without listing Posted: 06 Oct 2020 08:18 AM PDT A great family friend (We always called him Uncle) is about 80 years old and looking to move into an assisted living situation. He's single without any blood family around. He recently called an agent to come out to look his house and start getting it up for sale. The house is older and not in great shape. The real estate agent that he called ended up buying the house from him directly (without listing it) this week at way below market value. Below even what the land is worth. The neighbors actually reached out to us because they over heard the agent outside bragging about how much money he is going to make off the house. That's when we called him and found out the situation. My uncle is nice to a fault and wouldn't know if someone was taking advantage of him. Sadly, he would be a scammers dream. I'm trying to get more exact details. Any thoughts would be great. I'm wondering if there might be legal action too. Edit - this is in Washington state [link] [comments] |
| First Time Home Buyer: Permit violations from previous owner Posted: 06 Oct 2020 12:12 PM PDT Hello, I hope someone can help me. We purchased a home back in March earlier this year. I went to the local county here in Illinois to apply for a permit to have my fence installed but only to find out that the previous owner has violations for unpermitted home improvements. There were 7 of them. I eliminated 4 of them by destroying (even before I found out the unpermitted work). The backyard patio and front porch are unpermitted and the biggest one is the small addition in the back of my house. The person that works for building and zoning told me I need to draw out a floor plan for the home addition, apply for a permit (after they approve the floor plan) and the inspector will come to inspect it. The previous owner had applied for permits back in 2011 and never followed through. Worse case scenarios: After my fence is installed, I will have to call the county to let them know it is complete but the caveat here is the inspector will see the current violations and will issue me a formal violation ticket. Then I will have to appear in court. I do not understand how this is my fault and we are so confused. I told my attorney who helped us close on the property about this. She said there may not be much we can do at this point and asked me what I would like to request from the seller's attorney. I said he can at least draw out the floor plan (He is an architect) and pay for the permits. I feel like this is not enough. Can someone please advise? [link] [comments] |
| Posted: 06 Oct 2020 08:12 AM PDT I just had this idea and can't find any information about it (so... my assumption is that I'm missing something and this is a bad idea) My partner and I are looking for a move-in ready, newly renovated home in Austin. We already know the neighborhoods that we like, and there are a lot of homes being flipped in the area. Would it be reasonable to approach a home flipper and essentially line myself up as a buyer? The way I'm imagining it, once they're wrapping up the reno they could let us know and we'll do a walkthrough, agree on a price, and essentially execute it as a FSBO to save the flipper the 5-6% in realtor fees. It feels like a mutually beneficial strategy. We have the certainty of a move-in ready home in a neighborhood that we like, and the flipper gets an extra 5-6% by avoiding realtor fees. And worst case scenario for the flipper, we fall through and they just list as normal. Is this even legal? If so, does it sound like something a home flipper would be open to? [link] [comments] |
| Posted: 06 Oct 2020 12:53 PM PDT Are they really that desirable? We hate our noisy second floor but don't want to destroy resale. Unfortunately I get the impression that the second floor wood is a plus or neutral and second floor carpet is a negative. [link] [comments] |
| Posted: 06 Oct 2020 12:36 PM PDT The full relevant text is:
From the county parcel viewer it appears that the property has a single car garage, as well as a deck on the county right of way. The right of way is an undeveloped piece of steep bank waterfront. What I'm wondering is if one were to buy this property, what are the implications of the encroachment and what would a likely outcome be? [link] [comments] |
| Do Buyer Realtors lie about comps & interest in property? Posted: 05 Oct 2020 07:28 PM PDT So, there's a place that's been on the market since March with several price drops, most recently at end of August. My SO and I really like it and want to put in an offer. Our buyer Realtor, though, said that there have been several showings, some second showings even this week and so we should go in at our top budget - about 91% of current listing. She also ran the CMA, however, it only showed the 3 most expensive sales of similar houses in that neighborhood in 2020 and left off the more recent Aug/Sept sales that are ~$30k under the 3 pulled. I did a lot of research and they have same beds with similar baths, similar/more square footage, similar amenities, built 5yrs more recently, and were on the market for much shorter time. Is it possible that my Realtor is trying to manipulate the data pulled and given to us to try to get us to put a higher offer in? I agree that the house probably is worth what she's telling us to put in, but the house has been on the market SINCE MARCH. And other properties have sold for much less. [link] [comments] |
| Posted: 06 Oct 2020 12:53 PM PDT Hi all, my partner has an apartment that he has been living at for about 3 years now and I occasionally stay with him during the week. The issue being that there have been multiple times where we have argued and it has gotten pretty loud. My partner was given notices to keep it down but we are still actively working on our relationship (we are in therapy and I am taking medication for my anxiety/depression/bipolar disorder) so we have still had incidents happen even after being told to keep it down. This brings us to September 7th, 2020, my partner and I had a verbal altercation and it got physical outside of our front door (pushing and yelling) the apartment manager, called the police and a domestic disturbance was filed onto our record. From that day our landlord filed a summary eviction notice against us and didn't serve us with the eviction until Sunday, October 4th, 2020. On the notice it says we are to leave the property within 30 days. We are overwhelmed and don't know what our rights are in this situation, I am not sure if I need to hire an attorney in order to respond to the court or if my partner can send a response on his own? Thank you in advance for any help. [link] [comments] |
| Selling First Home - Nerve racking Posted: 06 Oct 2020 09:00 AM PDT Selling my Townhouse so that we can purchase a house closer to my in-laws so they can help the wife when we start a family. The Townhouse went live on the market this past Tuesday morning. We received a call from our realtor that we have 4 diff families wanting to see the place that afternoon. Rushed home after work and cleaned up a bit and made sure everything was in order. Wednesday we had 2 more families and on Saturday we had an 2 hour open house. we had 7 families according to the realtor which wasn't bad considering it was raining pretty bad. Yesterday we had 2 more families looking at the place. The Townhouse is in a great location, it's a 3/2.5 I replaced the A/C unit 3 to 4 years ago. Water Heater is 2 months old, 2nd fl has laminated fl done last year. Everything seems to be updated, the only negative about the community is that there are no guest parking. And some buyers have mentioned that. HOA is about 174 I know i'm just ranting and it's been in the market for only 1 week. But i'm surprise I haven't received any offers at all after so many showings My community sits between 2 other community and in each of the community there is a 3/2.5 Townhouse for sale also that is listed for $325k. One is Pending for $330k only difference is that they are 1600 sq/ft and mine is about 1450sq/ft. I listed mine for $279k (Location Miami FL). [link] [comments] |
| Posted: 06 Oct 2020 08:25 AM PDT Okay - I'm new to this sub so apologies, I don't know how ya'll feel about tiny homes. Point is we are building one and I know it is the right decision for us. We live in a good market (Phoenix) and the increasing population and heat has been miserable. I want out - it's even more than that, I'm a biologist and I have health issues and I need to get back into nature. My fiancé sold his condo back in May for about a $30k profit. My townhome, at current rates, could get $80-100k (minus fees). Between the two, we have more than enough cash to pay for the tiny house and essentially live rent free (we have a spot located for the first placement, it would be $400/month, which is crazy cheap considering our salaries). Our intention is to continue saving money, purchase land, and eventually rent space on that land (that's a topic for a whole other thread lol). We know it is an "unconventional" lifestyle so we have gotten MANY questions from friends and family. There has been a lot of pressure on me to cash out the equity in my townhouse and to rent it instead. We currently have two roommates, another couple, who I love dearly, but being a landlord has been more work than I would want. I understand the pros of it - tax credits, more equity, etc - but we are both working full time and working on side businesses. We also want to travel more. Even though I may lose money, I feel like I'm gaining time back in my life and I think overall we will be financially fine. Am I being a fool? Should I consider this more? Thanks for any advice you can provide! [link] [comments] |
| Looking to buy my first house, what's next for me? Posted: 06 Oct 2020 11:57 AM PDT current info about me, Ill be buying a house with my long term girlfriend (ill be on the financing she'll pay half the rent) salary-60k gf salary-40k my savings(total) 110k my Debt-20k in student loans (making minimum payments as my job will pay off a good chunk next year) my credit score- 800/720 (depends where I check it but typically in upper 700s) pre-approved for a few online loans @ 250k found a house @ 250K that we really like, a bit concerned its more than we should be spending, but most calculators put it safely within our affordability range and at the edge of my affordability range if we were to separate(unlikely and in this situation I would definitely get a roommate) financing so far: looked at doing an FHA with 2.5% interest (approved) paying 20% down (this would wipe out a good chunk of my non retirement savings) 5% down no PMI through KeyBank (haven't applied for this one yet but the no PMI is appealing) Why I'm posting: looking for advice from experienced home buyers, what should I be doing next? Is the budget realistic for our income? is there a safe bet for financing, feel a bit out of my depth when looking over all of the options/ possibilities [link] [comments] |
| Posted: 06 Oct 2020 11:55 AM PDT Hi all, I'm about to buy a house and will be moving out of my condo in Allston, MA (Boston). I'll rent out my condo, but I'm curious how you all as landlords are handling the Covid pandemic. Given there is a moratorium on evictions, I don't want to end up in a situation where a new tenant moves in and then doesn't pay rent. I don't know what options I have - is taking a few additional months of deposit legal? I suspect not. Any other ways to protect myself or am I forced to just risk it and hope my tenants pay? Thanks all for your help! [link] [comments] |
| How to buy a HUD/Bank-owned (REO) Property before it is listed? Posted: 06 Oct 2020 07:55 AM PDT Does anyone have any suggestions on how to get to a house that has sat vacant for a year and is currently owned by HUD (according to the deed)? I am hitting up the mortgage company that foreclosed and the asset mgmt company with little luck. Thanks! [link] [comments] |
| House with a 50 Y/O Septic Tank Posted: 06 Oct 2020 07:34 AM PDT We're under contract for a home and found out it has a 50 year old septic tank. The owners they clean/maintain every 2-3 years with receipts. A little research tells me septic tanks need replacing every 30-40 years, other sources say they could last 50 years + under "the right conditions" - it's very conflicting for a septic newb like me. The owners claim they've never heard about having to replace a septic tank. What's the right answer here? Note: We do plan on doing an inspection anyway, but part of me wonders if it's worthwhile to drop $500 on a septic inspection when we know it has to be replaced anyway. [link] [comments] |
| first time home buyers... scary... advice welcome! Posted: 06 Oct 2020 11:06 AM PDT My family and I are looking to purchase a home as stated in the title. I am quite intimidated by the process and some of the risk associated with home ownership. Background information... we are looking to purchase the home in WI, we've never lived in WI and didn't plan on it, however work is sending my family and I up there for the next 3-4 years. We were looking at rental costs in the area, but they were quite high compared to the cost of a mortgage. I recently applied for a VA loan and got accepted. I based my loan amount on a monthly payment rather than the grand scheme of the loan amount in order to maintain our monthly budget. Our realtor has been sending us potential properties, but there is a high chance that we will be purchasing the home sight unseen, just merely doing "live" walk throughs via our realtor. scary... My main concerns are..
We've looked at Zillow, Redfin, and other website, but from what I've read those "estimates" can be quite inaccurate. Let me know what advice you guys have... [link] [comments] |
| Is this crack in basement corner bad? Posted: 06 Oct 2020 10:53 AM PDT Hi All, Was hoping to get some opinions on this house that we are contemplating putting an offer on. During the tour we noticed this crack in the basement corner. Anyone have any experience with something like this? We have not gotten to the point of getting an inspector (and definitely will if we put an offer on the house) but wanted to see if anyone had any opinions or experience with cracks like this a Thank you in advance [link] [comments] |
| Lower the floor on your search Posted: 05 Oct 2020 03:23 PM PDT I wanted to post this here because it helped me find my house and it may help others as well. If your glued to your screen looking at houses on Zillow, Redfin, mls, or what have you. One thing to consider is how you search. I started out with this budget in mind of 140K so I would do searches from 120-140K. Well at that price point I was either in the hood or really close to it. So I had to open up to spending more obviously. My search creeped up froM 130-150K and and at the peak I was looking from 150-180K. So what happened was as I raised my ceiling I also raised the floor. Well I was laying in bed at 3am looking at Zillow on my phone and tinkered with my search criteria and opened it up from 140-200K. I was like f*ck it show everything. Suddenly.......my house magically appeared The house I now own and love was listed at 149,900. If I did not expand my search from 150-180K to 140-200K I would have never seen it and likely had been renting another shithole apartment that I hate. The kicker is that I got to a point where I searched 100$ too high (150K being my floor). (FYI I worked with a realtor is awesome but she did not do much of my searching we only made a contract when she made my offer). The house appraised at 170K but I suspect the listing agent posted that 149.9K price to stir up some competition. When we viewed the house 3 cars stopped and we had a bit of a bidding war. It made me think that others could miss out on a house cause they searched 100$ too high. Another part to this is you might end up bidding against someone you are narrowly financially better off than. I won my house because I was able to lean on my good credit to go conventional over FHA. The competing offers were FHA and I started out with an FHA offer but switched to conventional and threw the escalation clause out there which got me to the closing table. In the reverse, there is probably competition who would have beat me if they had decided to drop below 150K. This part of my experience seemed worthy to pass along. Good luck to those still looking. [link] [comments] |
| Posted: 06 Oct 2020 10:14 AM PDT |
| Posted: 06 Oct 2020 10:12 AM PDT I am a new agent that recently put a listing on MLS. We had 3 showings this weekend and use the app showing time. 2 of the 3 have given feedback via the app and were the ones I was least hopeful about. The other one, who seemed the most positive and interested from the start, has yet to leave any feedback. (it has been 48 hours) Their realtor has been the most responsive/positive from the start and booked the showing within 10 minutes. We are in a very limited supply market with high demand. The app sends 4 emails asking for feedback, 1 follow up beyond the initial has been sent. Do you think this lack of response is a bad sign? I would think this realtor would be the most likely of the 3 to provide feedback, is it common to ignore the feedback option on showing time? If all of the email responses are sent and no feedback received should I reach out to the agent? Or just consider them not interested and move on. Thank you! [link] [comments] |
| What are some good things to purchase during Black Friday/Cyber Monday for a Spring move-in? Posted: 06 Oct 2020 09:48 AM PDT My partner and I are in the process of purchasing a new construction condo that will be finished around the spring. With Black Friday/Cyber Monday coming up, I was wondering if it's worth purchasing items now for when we're ready to move. [link] [comments] |
| Obvious but eye opening revelation Posted: 06 Oct 2020 06:02 AM PDT Anyone on here had the goal of a dream house but decided to go with less? My wife and I have been saving very aggressively the past few years for our dream house but recently I had a friend lose his job and then lose his house. (clearly he didn't have his finances together) Seeing this made me question if I had the right goal in mind for our dream house. I started to question the stress of the payment, overhead costs, upkeep, etc. Or we could look for something a little more manageable and less expensive then still have more money for our hobbies and to travel. We are very financially disciplined and stable so either is possible. We're not quite decided either way. Curious at some others experiences. [link] [comments] |
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