Real Estate: I hate the TV above the fireplace |
- I hate the TV above the fireplace
- Open concept? Can I learn to love it?
- Unless urgently needed, is it a good idea to wait out the pandemic before making a house purchase?
- Are you allowed to do inspections to include structural engineers for “as is” listings?
- Not sure if rental scam, maybe being overly paranoid
- Buying a Warehouse/office in CT - What inspections should I get?
- Tips and tricks for online house hunting?
- Need opinions: Seeking help well in advance of a planned move?
- Hose is zoned to allow only one dwelling but has a mother in laws house built in an outbuilding. How hard is it to rezone?
- Is this normal? My lender keeps making mistakes and it’s driving me insane.
- How do you know how much lot rent you need to pay for mobile homes on realtor.com?
- Paying into principal at beginning of loan
- Question re unusual provision in builder's addendum
- Can I cut my neighbors illegal hedge?
- Pic of EMD
- How do you start real estate investing?
- Consulting/Advise needed
- Potential Tenant asking to sign without a credit report
- Fixer Upper - Any Advice?
- Applying for Homeloan when in 1 year, you had 4 months of reduced pay and FMLA due to childbirth
- Down Payment & Planning to Move
- Anyone used First Mortgage Direct?
- It feels almost impossible to buy a home right now. As a military family we feel disheartened using the VA loan
- Looking for some reassurance on getting a mortgage - Strong credit, low savings.
| I hate the TV above the fireplace Posted: 12 Oct 2020 10:28 AM PDT |
| Open concept? Can I learn to love it? Posted: 12 Oct 2020 05:16 AM PDT Hi Reddit - y'all have been super helpful through this process and I really appreciate any insight as I've never bought or sold before. We've been looking for a solid year in the Midwest. We have specific needs with my elderly mom (she is moving in, needs a workable layout). We started this search with must haves we are now considering giving up. We wanted a central location, but we found a nice house about 25 minutes out in the suburbs. We also never liked the idea of open concept because we're not the most clean, but we found a house that is lovely except it has an open living dining and kitchen. Can I learn to live with this? We'd have a loft area for TV and a basement for TV so we could learn to spread out? How do people live with the totally open feel with smells, sounds etc? I'm worried I keep nitpicking every single house to the point we can't find one. [link] [comments] |
| Unless urgently needed, is it a good idea to wait out the pandemic before making a house purchase? Posted: 11 Oct 2020 04:55 PM PDT We've been trying to buy a house in Seattle market and it's crazy hot right now. Not sure if it has always been this hot? Literally saw a house listed at 1.3m going for 1.8m. Not only are the houses going well above the listed price but also most buyers are even waiving off contingencies. Both I and my wife have stable tech jobs. Pandemic hasn't really affected our line of work. But seeing how the market has been first hand, we feel like we will end up overpaying for a house since the supply is so low and demand is so high. Although we have enough saved for a down payment, we can definitely wait for another year and a half to buy a house and continue renting in the meantime. In all probability the low mortgage rates will continue into 2021 as well so we aren't missing out on this if we waited a little further. What do you guys suggest? From what I've been reading on this thread, the real estate prices currently reflect pre pandemic days and it will only be in next year when we will see pandemic influenced prices. Just wanted to know if I'm overthinking this or waiting is the right strategy at the moment? [link] [comments] |
| Are you allowed to do inspections to include structural engineers for “as is” listings? Posted: 12 Oct 2020 06:47 AM PDT I'm seeing quite a few homes listed "as is" that I would be interested in purchasing and paying for a rehabber. The notes typically say "no disclosures, as is, rider required." Is it common for sellers to allow an inspection/inspections before you're under contract? Being that it's "as is," I don't want to buy until I know there's at least no foundation or structural issues that can't be fixed. I'm fine with all other as is featured of the houses. I just don't want to purchase a home and then on the first rain, the basement floods. I want a certified inspector to be able to tell me that. Thanks. [link] [comments] |
| Not sure if rental scam, maybe being overly paranoid Posted: 12 Oct 2020 07:38 AM PDT So I recently found a great apartment online and reached out. The current tenant is still living there and moving out in a few weeks, so the listing agent facilitated a viewing of the unit with the current tenant. Saw the unit, everything seemed super legit. Decided to move forward, and yesterday, the listing agent (seems like she is just a landlord that manages 10-15 properties) emails me from a gmail address, saying once I send the security deposit (1 months rent) via a deposit slip, she will send me the lease to fill out. I've spoken with her over the phone, I think maybe I'm being overly paranoid. I guess I'm just surprised they are asking for a security deposit before sending over a lease Any red flags? Is this normal? Edit: asked for the lease and the landlord sent it, so that is promising [link] [comments] |
| Buying a Warehouse/office in CT - What inspections should I get? Posted: 12 Oct 2020 08:52 AM PDT As the title says, I'm planning on buying a warehouse in CT. It has some office space (6 offices) and an existing tenant (who is staying). What inspections should I get done? Any other suggestions or things to look out for are all appreciated. [link] [comments] |
| Tips and tricks for online house hunting? Posted: 12 Oct 2020 10:58 AM PDT Looking for any pro tips to searching for a house online. I am a web dev so the complexity of these tips can go to writing scripts if needed. Any help is greatly appreciated as I'm sick of jumping from Zillow to Trulia, etc. Thanks [link] [comments] |
| Need opinions: Seeking help well in advance of a planned move? Posted: 12 Oct 2020 05:57 AM PDT Would love to hear from brokers on this. We're planning to retire from Chicago to a warmer climate in the next few years. We're still trying to determine which area we'll move to, but once we do I'm curious about asking a local agent for help in understanding the various neighborhoods and markets. My thought is that, while I can do a lot of online research, a local agent should know more about the areas and can make recommendations based on what we'd be looking for. My concern is that I'd be asking for help on a move that likely won't happen for 2-3 years. Although I'd certainly do everything possible to buy a home through them when the time came, is it unreasonable to ask an agent to invest time in helping us understand their local market that far in advance of a move? [link] [comments] |
| Posted: 12 Oct 2020 11:26 AM PDT We are shopping for houses and found one we loved but the previous owners had built a mother in laws house. Our realtor said that the house is zoned for only one dwelling and we'd likely have to tear down the mother in laws house. Otherwise we really love this house and it's a good price. Could we do anything to change the zoning? Or is that too hard? (Small town in Virginia) [link] [comments] |
| Is this normal? My lender keeps making mistakes and it’s driving me insane. Posted: 12 Oct 2020 11:25 AM PDT I'm not sure if this is typical. Every single document I've had to sign contains some issue: spelling errors, incorrect addresses, the wrong name (they keep calling me "Sheryl" on phone calls and in emails), and even the wrong amounts! Who the flip is Sheryl??? I have to read each form with a fine tooth comb TWICE anticipating revisions. And then everything about my lender is an emergency. They also submit documents for signature at odd hours of the day (5am on a Sunday, 11pm on a Tuesday, etc) and then they demand I sign them IMMEDIATELY with back-to-back phone calls. We missed our first closing date because the lender sent over one document at 11:30 PM and demanded we sign it by 12 AM or risk delays. Guess what? We were asleep and woke up to missed calls, texts, and a mountain of voicemails. Why? Why can't this be done during business hours? [link] [comments] |
| How do you know how much lot rent you need to pay for mobile homes on realtor.com? Posted: 12 Oct 2020 11:20 AM PDT Some are pretty cheap and liveable and really nice.... But how do I know if there's rent and how much it is? [link] [comments] |
| Paying into principal at beginning of loan Posted: 12 Oct 2020 11:17 AM PDT Hi all, A question, do you think it's a wise decision to put the profits made on your first investment property into extra payments on the principal at the beginning of the mortgage in order to reduce total interest paid over the life of the loan as well as pay the mortgage off early, or does it make more sense to accumulate that profit and roll it into a down payment for the next investment property? Thanks [link] [comments] |
| Question re unusual provision in builder's addendum Posted: 12 Oct 2020 05:05 AM PDT Hi all, I am considering purchasing a new construction here in Texas. In addition to the standard agreements, the builder has an addendum that must be executed. One of the provisions essentially states that if the buyer submits valid warranty claims in excess of a certain percentage of the purchase price, the builder has the option to repurchase the home. Has anyone seen provisions like this? I asked my realtor, and neither he nor his colleagues have seen such a provision. I don't like the idea of the builder being able to force me to sell the house because of valid warranty claims, though I hope I won't have to submit any. TYIA. [link] [comments] |
| Can I cut my neighbors illegal hedge? Posted: 12 Oct 2020 10:54 AM PDT My neighbor has a privet hedge along our fence line that is probably 20 feet tall. City code and our subdivision's CC&Rs only allow for 6 feet so he's in clear violation. He refuses to cut them. Can I cut them down? I'd simply cut them with my chainsaw by leaning over the fence. I am aware of California's Fulle vs. Kanani ruling that imposes steep penalties for damaging a neighbors trees by trespass. However, if the trees are illegal to start with it seems as there can't be any damages. [link] [comments] |
| Posted: 12 Oct 2020 10:48 AM PDT My agent just texted me asking that the seller's agent wanted a picture of my EMD on a personal check (plan is to give the EMD check tmrw when I see my agent anyway). What would be the reason for this? My agent hasn't texted me back. I'm a nervous wreck to begin with about my first home purchase. [link] [comments] |
| How do you start real estate investing? Posted: 12 Oct 2020 10:28 AM PDT I will be working in California, but I want to buy properties on the East coast where housing is cheaper. Is it difficult to invest like this? And where do you find people to rent your properties at? Is finding tenants difficult? Thanks! [link] [comments] |
| Posted: 12 Oct 2020 10:27 AM PDT Hi everyone, We have developed a checklist management software. One can create recurring (monthly, quarterly & yearly) and non-recurring checklist and manage them. Within each checklist, you can add scheduler (Email, SMS and automated Call scheduler), upload and download widgets. We can add more widgets anytime as we require. You can manage all the checklist created by adding the labels, filtering them by labels, filtering them by team member who is working on that checklist and much more. We developed this for one vertical and we are getting good response. I feel that this product can be used in Real Estate with some tweaks to manage leads, documents, etc. And can be sell as a SaaS product. I am looking for someone domain expert in real estate, who can consult and advise us to tweak the product as per the industry requirements. Take the first version to market and then go on iterating the product as we receive the feedback. If anyone interested to know more, please DM me and I should send you the product link. Thank you [link] [comments] |
| Potential Tenant asking to sign without a credit report Posted: 12 Oct 2020 10:24 AM PDT Hi everyone. I own a property that I use for long term rentals. Someone is claiming that they are participating in a program called NACA to purchase a home within 1 year and are not allowed a single inquiry on their credit report for the entire year. They want to sign a 12 month lease without going through the credit check. The person sent me two pay stubs to prove they have more than enough income to pay, including willingness to pay a larger than normal security deposit. I am leaning towards declining the offer but would like some 2 cents from other landlords. What would you do? Give him a lease with a 3 month security deposit? Just really weird to me... [link] [comments] |
| Posted: 12 Oct 2020 10:04 AM PDT Hopefully closing soon on a house that needs a bit of work. Since it will be a lot of work at once, anything else we should consider because it will be a construction zone for the first month or two? Initial priorities are electrical, roof, siding, windows, kitchen, bathroom. Thanks! [link] [comments] |
| Applying for Homeloan when in 1 year, you had 4 months of reduced pay and FMLA due to childbirth Posted: 12 Oct 2020 06:13 AM PDT 2020 has been a wild ride. My wife and I had our first kid in the middle of a pandemic. I just got the 'Okay' from my employer that I can start working 150% remotely; which means that my newly started family can move back to our hometown to allow our child to be with her grandparents! However, there are some facets when it comes to purchasing a home:
Bullets 1 through 3 are clearly going to show in our W2's for the 2020 tax year. I have documentation to support the FMLA. My paystubs indicate my pay has returned to normal. My 2019 and 2018 years were solid. Do you think that this will hurt my chances of getting a home loan? Our net income is approximately 125,000 during a normal year. However, it has been an abnormal year. [link] [comments] |
| Down Payment & Planning to Move Posted: 12 Oct 2020 09:54 AM PDT My husband and I are planning to move to Austin TX from rural/military Texas within 12-18mos. Together, we have an annual income of ~250k with lockstep annual raises of 7% (we make a bit more now, but this is based on his expected income post-retirement). Our current home is worth $135k (realtor said to list at $155k and expect $135k after fees/closing) and we owe $109k on it. It is a VA loan. We could also rent it out for $1300-$1500/mo (our mortgage + taxes + insurance is $1100/mo). We are contemplating renting it out and using it as our second investment property (we have a 2Bd/1ba we rent out currently, but we don't owe on that house as it was bought in cash). We didn't really mean to get into real estate investing - it was cheaper to buy a house & get home health for my husbands dying grandfather than it was to use a home, so the house paid for itself after about a year. We have about $40k saved up for a down payment currently, but it seems our ideal budget in Austin is $500-600k. We estimate we could save $3-4k/mo towards a down payment if we deferred aggressive payoffs on everything else. We are trying to figure out our savings plan for the next year, considering we could also put money towards paying down cars, student debt, etc. I'm assuming we will need at least a 5% down payment if we don't want to go with a VA loan. If we do want to go with a VA loan, we would need to refinance our current home (which we can do) and we would need to have a down payment of anything over $540k (so up to $60k). If we went traditional, what down payment percentage would get us a good interest rate? Should we be shooting for 10%? 20? We were thinking a 20-30yr loan term, but we generally pay off our loans faster if we can. [link] [comments] |
| Anyone used First Mortgage Direct? Posted: 12 Oct 2020 09:14 AM PDT We're in the process of doing a VA refinance and found them through Bankrate. They're offering a 2.25 rate with no points and a 1% credit. Any experiences with this lender? [link] [comments] |
| Posted: 11 Oct 2020 12:39 PM PDT We have put in a total of 4 offers so far. Each home we could picture ourselves in. And each time we were beat by either an all cash offer, an offer of 10k or more on the home with the appraisal waived, or an offering of someone's firstborn child- on top of an all cash offer. It feels like a never ending road. Our realtor has been nothing but supportive and knowledgeable. Some offers you just can not beat. On top of that the market is getting flooded with big cooperation home builders that have nothing but terrible reviews. That makes us shy away from new builds. We don't have much time before I have to PCS to a new state and have a home ready. I hope we can find something in time if not we have to rent again and that's just something we didn't picture for our future. [link] [comments] |
| Looking for some reassurance on getting a mortgage - Strong credit, low savings. Posted: 12 Oct 2020 09:00 AM PDT I had an offer accepted on a house, it passed inspection, and now we're moving into the mortgage approval process. I have zero debt, outside of a credit card I pay off every month. I have a 770 credit score, the value of the house is below 3x my income. I am putting 7% down, and I was preapproved for 15% more than the purchase price of the property. Everything should be going smoothly, but I'm getting myself tripped up on two points. The first being the down payment, I was originally going to only put down 3-5%. After losing out on a bid because my down payment was lower, I decided to raise it to 7%. As a result, my savings are dramatically reduced. I will have less than one months expenses in savings after we close. From what I've read, how important this is depends on the lender and your income. The other thing I'm worried about is where the down payment is coming from. I've been putting my savings in an account owned by my wife, but my wife is not on the mortgage application. My realtor told me that a gift affidavit would need to be included in the purchase offer, but other things I'm reading are saying that doesn't matter. I'm working with a mortgage broker, and I'll be speaking with her after the holiday, but I'd like some reassurance that I won't be denied a loan and lose out on the house. [link] [comments] |
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