Real Estate: Time flies until it doesn’t. |
- Time flies until it doesn’t.
- Structural Engineer: Always get a second opinion
- Making insulting offers?
- Are most realtors insistent on using preferred mortgage brokers?
- Water Damage day after closing, options?
- Flooding history in South Carolina not disclosed. Bought house and now FEMA want to buy home at 2017 valuation. No one taking responsibility the sellers are threatening us that if we sue them they will sue us for defamation. Real estate agent is taking no responsibility a d running scared
- Doubling Down , i Hate the Microwave over the range too
- Is there anyway to ACTUALLY know what property taxes a property will have on it next year after a client buys it? (Also disability is currently on it)
- Cockroaches in my apartment... The agency doesn't care?
- Atlanta Houses Overpriced?
- Should I Refinance (smaller balance)? Very confused
- Seller sold outbuilding to cover mortgage payment and car payments one week from close. Buyer is ticked and listing agent is taking the seller’s side.
- Underwriting?
- Should I sign a contract to sell a vacant lot in FL If there’s a permanent Trailer on the lot?
- North Carolina Real estate agent sabotaging my house from to other potential buyers!
- What to expect at closing? Documents?
- Buyer Agent lied about house availability.
- First Rental Property - Florida
- [USA] My no-contingency offer got accepted but I want to back out now. Haven't paid earnest money yet. Do I still need to pay that amount?
- Deed restrictions not disclosed until after closing on home part 2
- Mailers from Land Buying Companies?
- Purchasing a home before a divorce is finalized?
- Tips for a fist time apartment renter, please!
- How hard is the Keller Williams interview
| Posted: 13 Oct 2020 07:44 AM PDT Did anyone else feel like the weeks coming up to closing were the longest weeks in your life? Before we were set to close weeks were flying by. We close on the 16th and these past few weeks feel like it's been months. [link] [comments] |
| Structural Engineer: Always get a second opinion Posted: 13 Oct 2020 08:01 AM PDT Hey guys, this is a follow-up from my recent thread here: To answer some questions from that post: It was a licensed structural engineer, but the report had many errors and mistakes that did not make sense to me. While I understand he is an expert, there were some obvious signs of laziness throughout the report (one being that he specifically mentioned an upstairs bathroom door that did not exist because there is no bathroom upstairs). After losing my mind for a week or so, I was able to get a contractor to come take a look at the property this past weekend. After inspecting the property, the contractor said that he wasn't able to find any of the structural issues that were listed in the report. He also mentioned that this is not the first time he had seen a report like this from the same structural engineer. There were some issues that needed to be corrected, but they will likely be only a couple thousand dollars (not 10's of thousands as the previous structural engineer mentioned) which include some water-proofing and crawlspace issues. I've discussed this with my real-estate agent and we are going to go forward with hiring a second structural engineer for a second opinion so we can put the property back on the market in good faith. To that point: If the buyers had not backed out and asked for concessions instead, I may have lost some 10's of thousands of dollars. If it gets to this point, I'd strongly recommend getting a second opinion. Structural engineers are unbiased, but they are still people and can still make mistakes. [link] [comments] |
| Posted: 13 Oct 2020 08:14 AM PDT Looking to move back to my hometown and there aren't many people with my income level so more expensive houses for the area (anything over $250K really) sit a long time. There are two houses I am interested in and here are the details: Listed for $489K, on market 308 days, last sold November 2018 $355K (listed $375K) after 115 days Listed for $320K, on market 30 days, last sold July 2018 $268K (listed $289K) after 135 days Neither have had any significant changes. Most other houses are selling for around the same as the were a few years ago - some for less. Both of these prices just seem crazy. The awkward part is they are both listed privately (probably because agents told them they were nuts) so I have to make this lowball offer directly to them. Coming from my city where these homes would be 3x the price easily I don't even have a problem with the prices, but in the event I have to sell in the future I don't want to overpay and be stuck. Help? Advice? [link] [comments] |
| Are most realtors insistent on using preferred mortgage brokers? Posted: 13 Oct 2020 06:24 AM PDT Can you use a different mortgage broker than the one they prefer? If you have issues with their preferred broker is it looked down on to move on to a different broker? [link] [comments] |
| Water Damage day after closing, options? Posted: 13 Oct 2020 09:35 AM PDT Don't usually like posting personal stuff on here (privacy whatnot), but don't know where to turn. TLDR; found a home I liked, made an offer, inspection report came up with only minor issues... closed on the house over the weekend, and moved in yesterday. Same day, water heater failed. Flooded the garage. Probably at least $5-10k in damage. Insurance is saying they won't cover it because the damage happened due to neglect of the water heater. What can I do? Any recourse here or am I just SOL? [link] [comments] |
| Posted: 13 Oct 2020 07:33 AM PDT I bought a home in 2019 and since then if been one thing after another and I just had a baby. One we bought the home a neighbor knocked on out door and I was pregnant saying don't live in this home its filled with mold and flooded multiple times. I contacted my real estate agent saying all this happened and she said that they are activists and they are trying to use you. I was more focused at giving birth. Then the councilwoman contacts us and tells us that the City wants to buy the house and has flooded 3 times in the past and she was assisting the previous owners to apply for a FEMA grant all this was not disclosed to us and now the City is giving us 2017 valuation when we bought the home in 2019 and now 2020 booming market. We tried contacting the sellers and they threatening us for defamation. How is right? What should we do? I'm so stressed out with loss. Also the press wants my statement. Please advise in South Carolina. [link] [comments] |
| Doubling Down , i Hate the Microwave over the range too Posted: 13 Oct 2020 09:48 AM PDT to double down on my post yesterday about the TV above the fireplace. I'm also hating the microwave above the range. [link] [comments] |
| Posted: 13 Oct 2020 09:30 AM PDT I've been on the phone with the county tax assessors for hours this week, and unfortunately I can't get a semi-concrete tax range for my client. This home we are considering offering $315k on (sold for $275k in 2009). However, this house is only tax assessed currently at $157k. This is most likely due to the house currently being listed under disability for the current owner. However, that would change once the new owner buys it for around $315k. Right now taxes are only $1.9k/year, however my professional judgement for taxes would be anywhere from 3.7k-5.2k/year, but I cannot say for sure. Which is correctly frustrating for my buyer, and honestly myself as well. Saint Paul MN btw. Any advice helps. [link] [comments] |
| Cockroaches in my apartment... The agency doesn't care? Posted: 13 Oct 2020 09:16 AM PDT Hi! I am not sure I am posting this in the right place... please tell me if it isn't. Also, English is not my first language, sorry for any misspelling. I live in a small apartment in a three floors building. Since the building is made of very small apartments, a lot of students tend to live here or people with low income. It was build in 2013, so it's fairly new but a fair amount of the tenants tend to trash the place... I am very clean, and decided to live here in order to put some money aside. Recently though I have noticed cockroaches around my kitchen... there are the medium-sized, brown German ones. It started in summer, but as the days got colder, I kill almost four almost every single night! I found one on my toothbrush, around my kitchen sink, I even killed one with poison who gave birth to a disgusting square larva before my very own innocent eyes. It's absolutely disgusting! I have notified the agency that takes care of the tenants and sent them pictures. Their answer was that they did two interventions in August and September in the "common areas", and that a board specified that we could subscribe for a private intervention. I've never seen that board as there are the main entrance and an unofficial one on the other side of the building to the parking lot, and I only take the latter. They said that for a private intervention, I had to pay 45 Euros (40£ or 53$). I did send an email to the agency saying that the infestation in my apartment seems to coincide with the dates of the intervention in the common areas: could it mean that the bugs took shelter in the private areas then? I also sent them a picture of a bug in the elevator... Her answer? "Ideally, it would be better to intervene in the common areas an the private ones, but we cant just barge into people's homes." Misspellings included. I found it outrageous, I shouldn't be the one to pay! So I decided to do my own things: *** you can skip that if it's too long and annoying Since my apartment is small, I could easily find every spot where there was a whole: underneath some sockets, around the pipework and the sheathings, the duct linked to the kitchen and the bathroom... So I:
In my country, the law says that the owner has to deliver a vermin free place (there were no bugs when I got there, so ok), and be in charge of keeping the place vermin free (interventions and so on). The tenant had to keep the area clean and do what they could (which I have), and sometimes the tenant may have to pay for the products involved during the intervention, but not the intervention on itself (which is why I just sent an innocent email asking what is the specific price of the products and the intervention, so that they don't produce one made out for their convenience). I have not yet said that to my agency: it is a big one and I suspect that they don't give a f*. I was planning on asking what was the price for the products, and the price for the intervention specifically. Then tell them that I was not supposed to pay as stated by the law. Then if they complained, maybe sweeten the pot by saying "listen, I will be willing to pay for the products" so that they wouldn't feel like there are losing too much. Is there anything else I can do? What do you think? I am dreading becoming the broke scared girl taking the big scary agency to court... Thanks :) here, another *cookie* [link] [comments] |
| Posted: 12 Oct 2020 06:11 PM PDT I seriously don't understand how people are paying so much for houses in Atlanta. We make well above the average ~200k a year but can't find any decent houses close to the city for less than $500 / 600k The median household income is around 65k so I don't see how house prices actually translate here. [link] [comments] |
| Should I Refinance (smaller balance)? Very confused Posted: 13 Oct 2020 08:29 AM PDT I have a loan for 120k with about base of 3.63% interest for a unit worth 180k. It is an FHA loan, and it was refinanced once before post 2013, which means that PMI/MIP must be paid for 11 years regardless of LTV and the price of the PMI is fixed (it doesn't get smaller if you pay off extra on the loan as it assumes a schedule where you only pay the minimum principal). I only owe between 40 and 50k on the loan at this time, so I have to pay $70 per month to the FHA which makes my rate really more like 5.5% due to that ridiculous FHA rule, and the rate technically gets worse each time the principal goes down since the PMI does not go down anything worthwhile. It seems like a no-brainer to refinance based on that, however, I talked to a couple of loan officers and they directed me towards banks and credit unions because they don't want to take on a loan that small. This puts me in a weird position and I wanted to see if anyone with more knowledge than me could help with the best option. I could also opt for paying the rest of the loan off asap and throw more paycheck at it, but I would rather have the money freed up (but the numbers have to make sense). If it costs a few thousand up front then it is probably not worth since it could be an immediate 5% hit or more. As far as the unit, I have lived here for a long time and don't want to live here forever, however, I don't have any plans or immediate desire to move anytime soon either, so I will assume I will be here for a couple of years at least. Especially with housing, in my opinion, being toilet paper 2.0. [link] [comments] |
| Posted: 12 Oct 2020 06:46 PM PDT A little more info- the outbuilding (shed) was mentioned in the features section of the MLS and nowhere on MLS was stated "outbuilding does not convey". Close was extended a week and a half because the seller waited until the last minute to make repairs. Therefore the appraisal was ordered later because some of the repairs NEEDED to be made for the appraisal to come back "as is". Several attempts to reach out to the listing aide and ask for updates on repairs for this reason went unanswered. Now the listing agent is stating that the MLS has "all information deemed reliable but not guaranteed" as a blanket cover and the shed is personal property and not real property. With that mindset, nearly everything stated under features could be up for grabs unless specifically stated on the contract. Good lesson, I suppose but wow. [link] [comments] |
| Posted: 13 Oct 2020 08:06 AM PDT We submitted everything to underwriting on 9/29, and our closing date is 10/30. We followed up with the lender yesterday and she said it's not been reviewed yet. Is this timeframe typical? [link] [comments] |
| Should I sign a contract to sell a vacant lot in FL If there’s a permanent Trailer on the lot? Posted: 13 Oct 2020 07:56 AM PDT I am selling a piece of property in Florida with a trailer on the property. This is not a motorhome but one of those permanent trailers that are placed on the lot and stay there permanently. The buyer doesn't want to be bothered with having to insure a structure because he intends to tear down the trailer, so he is telling his lender that the lot is vacant and is asking me to sign a contract which states that it's a vacant lot of land. I'm concerned that I might be taking part in a form of fraud. He has offered to sign an addendum stating that he acknowledges that there is a trailer on the lot. Still not sure if this is safe to do. What are your thoughts? [link] [comments] |
| North Carolina Real estate agent sabotaging my house from to other potential buyers! Posted: 12 Oct 2020 06:49 PM PDT Im selling a house here in North Carolina and was under contract with let's say Adam & his realtor Chris. Adam had an inspection done and his inspector came back with many small issues. We couldn't come to an agreement on a price so the deal fell through. A couple weeks later I accepted an offer from another buyer Sergeant and his realtor Susie. Buyer came in at full offer and the inspection was disclosed to the buyer and they still wanted the house so much that they bought new toilets and a chandelier. I also agreed to give the buyer 10k towards repairs. Then the next day the buyer bails without any reason which is perfectly fine. Fast forward a couple days we put the house back on the market and Adam and Chris come back with another low ball offer and proceeds to tell my realtor that he called our previous potential buyers realtor and talks all kinds of crap about the house to make them back out. The realtor then proceeds to say in a text that he plans to sabatage any other deal in the same way if we don't sale his buyer the house. What if anything can be done about this guy because I'm starting to think the buyer, realtor, and inspector may be running a scam. [link] [comments] |
| What to expect at closing? Documents? Posted: 13 Oct 2020 03:27 AM PDT I'll try to sum this up as best as I can. Both the sellers lawyer and my lawyer have put no effort into closing this as they both forgot to order the abstract of title a month after I asked. As a result I fired my lawyer(who was a friend and doing it for free but cost me a months stay in a hotel by not getting abstract so had to fire to.cut out the middleman and get this myself) and I am now closing without an attorney on my side. Sellers lawyer said once he gets the abstract we close a few days later. I know he got it last week because I got a copy myself to go over. He never called to set up closing so I'll chalk it up to busy or lazy. I'm calling today to discuss closing in an effort to move things along as I need to.reserve the motel for another week if we cant close and it's just about booked up. I want to.make sure he has the current land survey at closing which he said he would get. I also want to get the number for total to close as I'm paying in cash and need to write a cashier's check.so in addition to remaining balance cost of pro rated taxes deed transfer and register and also the title company said he could write the title insurance that I am purchasing as well. Is there any thing else that I need to ask if he will have that we need to make sure we are ready? Or anything I'm missing? I understand that this guy is a professional and I'm an idiot but the fact is he hasn't done anything so far and when I've been talking to him even after our 3ed conversation he was convinced I was his client and my attorney was sellers attorney so he had paperwork all messed up and I want to treat this as if he has no idea what hes doing and be prepared as I can so that the deal closes promptly and smoothly. [link] [comments] |
| Buyer Agent lied about house availability. Posted: 13 Oct 2020 07:00 AM PDT Just to set up some background information, my family and I have been looking for a house in Atlanta. As am sure everyone knows by now, this crazy seller's market has put us through the wringer more than a couple of times. We find a house, view it the same day and there's a long line of people waiting for a showing and the houses we view usually go about $20k above the base price with aggressive sellers. We kind of gave up for a while and decided to cool down on the house search. Until last Tuesday, where I happened to look on an MLS and found a home which was JUST listed, it was about 20 minutes listed when I saw it online. The pictures didn't look bad, the price range was perfect and the location was in the area we wanted. I quickly called up our agent, (a sweet old Caribbean man with a strong accent) The house turned out to be even better than expected, the neighborhood was clean, quiet and very well maintained. The pictures did not do it justice, it much roomier than we thought it was going to be. We quickly agreed that this might be the dream house and that we need to put in an offer. Our agent puts together our paperwork in a couple of hours and tells us that he'll formally submit the paperwork in the next two days, which was a Thursday. Thursday rolls by and we're very excited to hear about any news on the offer, or how it went with our agent. After a couple of hours of waiting, we get a call back from our agent and it's bad news. Apparently someone offered an all cash payment Wednesday morning, beating us out by a few hours. We weren't even able to put an offer in. Of course we're very dejected and sad. We thought this was the house and we thought our offer was great (15k above base price, large down payment, etc.) but I guess the timing just wasn't right for us. After the call, I got a nagging feeling that wouldn't leave me that something was up. I decided to call up the buyer the next day and pretend to be a potential buyer, asking about the house's availability. I find his number online through the property company and give him a call. He answered the call very enthusiastically and sounded excited when I mentioned the property I was calling about. I asked him about the availability, waiting to hear that the house was already taken, but to my surprise he told me it was available and that I could view it the SAME day. I gave out a small excuse about not seeing it that Friday morning that I had a doctors appointment. He was quick to tel me that I could view the house the next day and ran through all the house amenities, great neighborhood, price range, etc. After the call, I was felt very confused. Why did he tell my agent that the house was already taken with a cash offer? I decided to give him the benefit of the doubt and called up my agent. I explained to him what happened and that maybe, maaaayyybbeee the cash offer fell through within those couple of hours. My agent quickly called hm back and asked to put an offer in, only to be told that the house was already taken and under contract. At this point, my family and I don't know what to do. We think this might be rooted in some discrimination due to our agent's very obvious accent, but that's just speculation for now. I'm really bummed out because this was the house for us. It's still showing up as active on all the websites and the idea of someone else buying it really hurts. we have perfect credit scores, 40% down payment, steady income, etc. just for this to happen. Do you guys have any advice? As first time homebuyers this has been a very very tough market and frankly, discouraging ordeal. [link] [comments] |
| First Rental Property - Florida Posted: 13 Oct 2020 06:51 AM PDT I plan on making an offer on a rental property. There's currently tenants in all the units, and after touring the property with a contractor there seems to be minimal fix ups. The only thing causing any doubt in my mind is the sellers intentions. They purchased this property in June 2019, and are currently asking for $50K more than what they bought it for. It's been on the market for over 2 months now. Trying to factor in why they would want to sell off a property that should be doing great in cash flow. Any thoughts? [link] [comments] |
| Posted: 12 Oct 2020 11:09 PM PDT I made a terrible mistake and placed an offer on a house that I terribly regret. It got accepted today. My offer waived off any contingencies. I am expected to pay the earnest money tomorrow. Am I still obligated to pay it if i changed my mind? Can the seller sue me for this? I feel extremely bad for myself and the seller. Instead of getting excited after hearing we got the offer, we are filled with doubts. [link] [comments] |
| Deed restrictions not disclosed until after closing on home part 2 Posted: 13 Oct 2020 06:25 AM PDT USA SC- I have posted here previously about my family just buying a home and deed restrictions were not mentioned once after lots of asking nor was it in our closing paperwork. Well we contacted the attorney who did our closing paperwork and he sent out a title abstractor to look into the property history again. They come back with a copy of deed restrictions. We would have NEVER bought this house had I known this. It's the type of deed restrictions that "run with the land" The document was created in 2000 it expires in 20 years but gets automatically renewed for 10 more years. This attorney real estate company and everything has been a bit shady all along. I have been told to contact the title company but the attorney contracts them out. Now we do have an owners title insurance policy but that policy hasn't even been processed yet. And fun fact only 1 owner and his family have had this property since 2007 a d they claim to know nothing about this subdivision!??...I call bs. Because the neighbor to our right is "grandfathered' in and is the only one in area with a fence. So what can be the outcome of this? Can we take this up with the county and get an exemption? The county zoning rules are fine. Can we get restitution from the realtor company and the for a fraudulent sale? I'm only looking for 2 things the ability to build my fence and garage or to turn the house over to the realty company and get our money back...not some big lawsuit. I am getting confused ..Is the title insurance company who has our policy the ones we call or the undisclosed title company the attorney contracted out. [link] [comments] |
| Mailers from Land Buying Companies? Posted: 13 Oct 2020 05:13 AM PDT Does anyone have any insight/ knowledge about these "land buying" websites (ex. "Generic name"buysland.com)? My mother in law received a letter from one of these sites in the mail, stating an offer of a few thousand and that they can have the deal done in about a week. I tried researching the business that sent it and couldn't find a whole lot. Her property is in Florida and it's just a small plot of land that she tells me was a "scam purchase" way back when they bought it in the first place. She'd love to just get rid of it- but something doesn't seem right about this situation. If someone's willing to buy it this easily, then I feel like there is something that's not quite adding up. [link] [comments] |
| Purchasing a home before a divorce is finalized? Posted: 13 Oct 2020 04:10 AM PDT We have had our home on the market for about a month now and we finally have a potential home buyer that is very interested BUT she is going through a divorce. In her home feedback she stated that she had to speak with her attorney to see if it was possible to purchase our home. My question is; is buying a home in the midst of a divorce common? I've read a lot and know it's possible but it seems like she will have to go through a lot in order for it to happen. I just don't want to get my hopes up that she may buy our home and then it falls through. Location: Cleveland OH [link] [comments] |
| Tips for a fist time apartment renter, please! Posted: 13 Oct 2020 03:39 AM PDT I've been renting rooms in student digs so far. I've only had direct contact with the landlord, and never worked with an agent. We are 3 young working people who will be moving in together, and we are looking to work with a rental agency. We have no idea what to expect and what to look out for, and none of us have people to ask for help. What is a good base line in regards to space and amenities? If this post is not applicable here, can someone please recommend an alternative sub? [link] [comments] |
| How hard is the Keller Williams interview Posted: 12 Oct 2020 08:04 PM PDT I recently passed my exams and I have a interview next week at Keller Williams and I'm just wondering what I can expect [link] [comments] |
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