Real Estate: Basement Leak and Foundation Issues 1 week after closing. |
- Basement Leak and Foundation Issues 1 week after closing.
- Made a large offer and now scared
- Finally got an offer accepted - feeling anxiety, cold feet, doubt etc
- Owner's title insurance after condo already purchased
- Old brick farmhouse that would need some work, but has good roof and foundation with 20 acres owned by city. Would they sell to me for a fair price?
- Are all houses on sale posted on Zillow?
- I know there is no timing the market, but I'm struggling to offer over listing price. (Denver, CO)
- First time buyer questions
- Refinancing with only one name on title in MN
- Where to draw the line with remodeling.
- replacing pumping system cost a fortune?
- First Time Mortgage
- Any advice!
- Do home inspections generally find structural issues?
- What benefits do I get if server in the military when refinancing or buying a new house?
- Will an appraiser be moving furniture around, taking down pictures etc.
- When a house sits for a few weeks in a HOT market.. What are some potential reasons?
- Investment opportunity in Egypt (need advice)
- Noise Complaint - What do I do?!? [ON Canada] - Sorry for Length
- What is it called where a house is one floor, and there is just one room like a bedroom or entertainment center at the top of the staircase and there is nothing else on the second floor? My family is thinking of moving and I’m just curious what the term is
- Can you leave furniture and closing in a foreclosed house when you vacate?
- Choosing conventional loan over VA loan?
| Basement Leak and Foundation Issues 1 week after closing. Posted: 27 Nov 2020 07:57 AM PST I closed on my house and the next weekend during sustained rain the basement leaked quite a bit and leaks every time it rains for over an hour. It is a 10k fix for waterproofing and foundation work. There is a significant foundation bow that it seems like the inspector should have noticed, but I can't imagine I have any recourse here. The sellers disclosed slight leaking in the basement under the porch but that the sump pump takes care of it. This is true, this area is waterproofed and has no issues. They did not disclose the foundation problems or other major leakage. I find it hard to believe that 8-10 spots on the wall suddenly started leaking 6 weeks after they vacated the home. They also installed a bathroom right next to the foundation bow, so the drywall is cut in a curve, it also seems unlikely that they did not know there were foundation issues. First time buyer so I am unsure of what my options are on this. I can pay for the work, but had I known about it prior, I wouldn't have purchased the home. [link] [comments] |
| Made a large offer and now scared Posted: 26 Nov 2020 07:05 PM PST My wife and I made a seemingly crazy offer ($55k over) and we actually waived a $20k difference from the appraisal, and we're now in contract. We are a family of 4. The house is a 4/2 2000 sqft but here is the kicker, it's on .5 acres in a nice, quiet neighborhood close to everything but still kind of country. I'm afraid we're overpaying because of the yard which is magical. The house though is just okay. Our RE broker advised we go all in because it is such a unique property with a double lot in a desirable neighborhood. I guess I'm looking for advice on buying a smallish well maintained home ('84) on a magical lot? Any pointers are helpful! [link] [comments] |
| Finally got an offer accepted - feeling anxiety, cold feet, doubt etc Posted: 27 Nov 2020 09:01 AM PST Fthb in LA - I've been house hunting for about 5 months, have lost about 6 offers. One came up that fit most my criteria, but it needs a lot of work and updating. Through a series of events my offer was accepted - I had started to think it was never going to happen, there has been so much competition. My first general inspection is tomorrow so hopefully I'll find out more. I know it needs a lot of updating, it was built in the 60s, has an old kitchen / bathrooms, old pool, popcorn ceilings etc - but it's a big place on a big lot (in the valley). I think that once it's all been updated it could be a gem, but I have no renovation experience. I'm scared I'm biting off more than I can chew.. I'm scared a bunch more inventory is going to hit the market in the new year and I'll regret choosing this one. I'm scared I'll miss the amount of $ I can save renting a small apartment ( I won't miss being crammed in with no outdoor space) I'm scared that the commute to the city when WFH ends will be torture. Basically I'm freaking out about all the bad scenarios, to the point of constant anxiety and second guessing my decision.. Is this normal? I've watched prices in LA just got up over the years so the I'm trying to tell myself that worst case I can probably sell it and at least break even. I'm also trying to tell myself having a big yard will add to quality of life and be more valuable than some extra savings in the bank. It's just freaking me out.. anyone else gone through this, or have advice? [link] [comments] |
| Owner's title insurance after condo already purchased Posted: 27 Nov 2020 02:51 AM PST We purchased a condo in March. At the time, I didn't really know the difference between owner's and lender's title insurance. I kept asking our mortgage broker about owner's title insurance and he kept telling me title insurance was already there, so I left it alone. But looking back at the documents, I now realize that we did not purchase owner's title insurance and only lender's title insurance was included.
For context, our condo is relatively new (built 2015) and we are only the second owners, so I'm guessing chances of a claim are lower than most. Edit: This is in CA. [link] [comments] |
| Posted: 27 Nov 2020 04:55 AM PST I found an old abandoned farmhouse surrounded by country and farms. There is about 300 acres owned by a nearby city. I find it wierd they own it seeing how it isn't close to the city limits at all. I don't know why the city owns it, but I planned on contacting them about it to buy the old house along with the 20 acres it sits on. When I look online there is no appraisal value for it or the other acres of land. Any thoughts on why the city owns the land? Do you see them selling me the abandoned house and the land it sits on below market value or a fair price if I tell them I plan on fixing up the house? Thanks! [link] [comments] |
| Are all houses on sale posted on Zillow? Posted: 27 Nov 2020 10:51 AM PST Wondering if there are some houses that aren't posted on sites like Zillow and if so how to find them? I understand for sale by owner would obviously be one of them but I'm talking about listed by real estate firms. Trying to see how I can get a head start before the rest of the crowd catches on. Thanks [link] [comments] |
| I know there is no timing the market, but I'm struggling to offer over listing price. (Denver, CO) Posted: 27 Nov 2020 10:37 AM PST We are looking at the 750-950K range and houses we like are gobbled up with 3-4 days, and they usually sell for 20-50K above listing price. We do have the 20% for a 950K home, and I hate sitting on that much cash but I'm having a tough time offering over listing price. Think it will clam down eventually? [link] [comments] |
| Posted: 26 Nov 2020 11:09 PM PST I'm an ex felon that nearly received life in prison at the age of 24. I work for a unionized company and the we work 7 days a week and it's 12.92 hourly rate on the probationary rate... Overtime is 1.5 And Sunday rate is 2X I've already been with this company for 7 months and have grossed 40,500. Similar to UPS, after 3 years the contract rate is 22.59 but this waiting period is in the process of decreasing due to a need for more people to work here. (I live in east Texas, so you're very far away from a city and the catch is, no social life. 7 days a week is a lot of money but this becomes your life) I wish to buy a home, my credit score is low ~570 that's due to mainly a repossession... My only open account is a car loan with 8,400 on it and plan to pay this off completely soon. The questions are: 1) most of the houses on sale over here have been on the market for over 100 to even 300 days. This is due to not many jobs for a 25,000 population. You either work for this unionized company, another large warehouse company, maybe be a random teacher / doctor / nurse practitioner, or a welder... If a person is asking 100,000 dollars for a 4 bedroom house with 10 acres of land (yes, this is how cheap it is) and it's been on the market for 300 days... What's an appropriate offer? 2) there's some pretty run down houses for as little as 10,000, are these worth considering if I hire an inspector/ contractor? The problem is, any work that would have to be done on the house would require me to pay people. [link] [comments] |
| Refinancing with only one name on title in MN Posted: 27 Nov 2020 10:03 AM PST Reddit, hopefully you can assist with this unusual question. When my wife and I purchased a home in Minnesota 2-years ago the mortgage and title were only in my wife's name. Currently, we're in the middle of refinancing and we are being informed that the title must be in both names, but the mortgage can stay in only one name. Do you happen to know what the MN state law says about this? Ideally, we want to keep the title and mortgage only in my wife's name as it was when we purchased the home. Thanks. [link] [comments] |
| Where to draw the line with remodeling. Posted: 27 Nov 2020 09:50 AM PST Hello everyone! My wife and I are buying a first house early next year, and we are pretty set on buying a fixer upper in our area. My question is in regards to remodeling, and how much remodeling is too much? We are in a bit of a unique situation where our family happens to own the largest kitchen/bathroom design and remodeling center in our county. So we have access to the highest quality materials are literally a fraction of the cost. Most materials will come to us at 75% off retail, plus a lot of it is free. We've got entire slabs of super expensive calacatta marble that my father in law wants to give us, as a gift. We have an opportunity to build out anything we can imagine for around 25% of retail cost. The thing is, we can only really afford a fixer upper in the 450-500k range and at that price point the houses are quite small. Around 1500sf or so. For this reason we know that we will be selling this home pretty quickly, probably within a few years of purchasing. As we will need something bigger eventually. My question is where do you draw the line with these types of upgrades? Does it even make sense to put 100k worth of materials into a 450k home that is 1500sf? Basically building a tiny designer home, in a kind of average neighborhood. I know that it probably won't affect the value of the property that much, so I guess it really just for us to enjoy for the few years we live there and maybe, possibly find a buyer down the line that appreciates the work we put into it. But at this point I am kind of thinking's it's not even worth all that work because we probably won't see a return on it and maybe we should just do a basic light remodel and save all good stuff for our next house. Any opinions on what to do? Thanks everyone. [link] [comments] |
| replacing pumping system cost a fortune? Posted: 27 Nov 2020 09:02 AM PST Hi 🙋♀️ I'm planing to buy a house that has kitec pipe. The home inspection said that to replace the kitec ASAP because they don't know when it will burst. The seller is willing to give 6.5k credit back to help with the replacement. Will this be enough for a 1800sq ft house with 2 bathroom? Please advice. [link] [comments] |
| Posted: 27 Nov 2020 08:54 AM PST Hello, I am in the process of purchasing a home. A lending agent I am working with (recommended by the real estate agent) gave me a rate of 2.77 with UWM. However I found lower rates online. He said there are lower rates online, however they close slower and we need it done within 30 days to be able to get the house or something. He also said most of the one's I see online might be refinance rates which are lower than purchase rates?? (is that true) Is it better to shop for my own rates or trust this lending agent? PS : I am in the part where seller already accepted my offer. About to open escrow. [link] [comments] |
| Posted: 27 Nov 2020 08:48 AM PST Me and my wife plan on purchasing our first home in 2 years. We're in a debate to purchase a forever home or starter home. I'm an electrician and my wife will begin her career as a teacher next year. Any advice! Thank you. [link] [comments] |
| Do home inspections generally find structural issues? Posted: 27 Nov 2020 04:38 AM PST We bought a place recently with a pre-done home inspection. We looked it over carefully and it seems there are no major issues with the house despite some minor roof repair needed. After doing a buyers visit we realized the front roof has quite a bit of a slant to it. See here http://b3.ms/a8XAjNPX6ABD. There was no mention of the slant in the inspection so would something like this be purely cosmetic/fixable by redoing to roof/framing? Is it possible this is a structural issue and the inspector overlooked this? If so would you recommend I go back in with a structural specialist before actually closing in 2 months? Edit: Also do I have the option to call the inspector that did the report to ask about this concern? [link] [comments] |
| What benefits do I get if server in the military when refinancing or buying a new house? Posted: 27 Nov 2020 08:19 AM PST Someone told me closing fees might be waived, is this true? Thanks [link] [comments] |
| Will an appraiser be moving furniture around, taking down pictures etc. Posted: 26 Nov 2020 03:52 PM PST So my lanlord told me that he is having an appraiser come by and I just wanted to know if it was like a super invasive process or are they just gonna come in snap some pictures and measure the rooms? I have pictures hanging and posters should I be prepared to take everything down? [link] [comments] |
| When a house sits for a few weeks in a HOT market.. What are some potential reasons? Posted: 26 Nov 2020 12:12 PM PST Just curious what sort of issues realtors and/or home buyers have come across regarding houses that seem decent (and comparable to others that have been selling fast) but have been sitting for a while in a very hot market -- Thoughts? [link] [comments] |
| Investment opportunity in Egypt (need advice) Posted: 27 Nov 2020 04:15 AM PST So there's this project in the works by the Egyptian government (I'll be buying directly from them) the units range from 3mil to 6mil Egyptian pounds so that's 400k dollars for the most expensive unit and there's a wealth management company there that can rent all the units I buy for as long as I want. I'm feeling pretty confident about it but I want to hear from someone who has also delved into foreign investment. What do you guys think? [link] [comments] |
| Noise Complaint - What do I do?!? [ON Canada] - Sorry for Length Posted: 26 Nov 2020 03:25 PM PST This is a call for help please! I am literally driving myself insane stressing about this situation. Situation: My girlfriend and I recently moved into our first real apartment building (non-student rental) together back on May 1st 2020. This is our second place together. We had initially toured the place and was super excited with "new and updated renovations" (I will get into this later). The day that we had moved in, the lady below us had came upstairs as I was waiting for the elevator down to grab some final boxes. I heard an extremely loud and aggressive knocking on a door. Which sounded like it was coming from my apartments direction. So I went to check it out since my girlfriend was left alone. To my surprise someone was at my apartment door. A girl turned to me screaming aggressively asking, "Do you live here?" And when I replied yes she followed with "Are there renovations going on in here!?" and kept repeating herself not allowing me to get a word in. I continued to explain that we simply we're just moving in and I was sorry for any noise that was being caused. We had couches, bed with box spring along with other miscellaneous furniture. I will admit that we kept our shoes on as we we're in and out often. We had not left the door open as another resident got mad earlier for us propping the door open. We had no issue and understood the door because it is a secure building. So it may of been shut normally causing some normal noise. When I explained this to her she didn't seem to care or acknowledge what I was saying. She instead started yelling, "I had this problem with the last Tenant that lived in your unit, I better not now". She stormed off down the stairs slamming the door. I proceeded inside my room and was questioned on why she was freaking out by my girlfriend. I explained the situation to her and my parents and they didn't seem too happy. We just left it be because we don't want to start conflict. The next day we went out and got her a $30 outdoor flower pot with a mixture of different flowers, wrote her a note and knocked on her door. We originally planned to leave it in front of her door as this was amid the current COVID-19 pandemic. But she opened her door so we actually talked to her. My girlfriend and I apologized for any noise that we may had caused her and brought her this etc etc. I followed by telling her if there's any issue just feel free to write a note and drop it through the mail slot. She agreed and we went our separate ways. Until..... Letter: The other week I received an email out of the blue titled "N5 Notice Letter". Containing the following
My Follow Up: I wrote a very long and extensive email back explain the situation with some facts that I will put in the next category. I had admit that the dog may of bark when we we're gone for like 5 mins but she never was barking by the time I returned (Even if I ran down the road for 15 mins). But we ordered a bark collar to get it under control the night of receiving the letter and it was here and on the next day. Facts I included:
I mentioned that I in NO WAY was mentioning any of the above comments about Tenants to get them in trouble. Mainly to prove the point that this is normal noise caused from living in these apartments. Like we aren't even paying $1200+ for a 1 bedroom, its cheap... The walls aren't bad as I can't really hear too much unless another Tenant is in the hall. (Or you know has their front door propped open). But it doesn't really get to me. Because like I said "We live in an older apartment building that is pet friendly, including dogs of any kind" and I thought these noises were normal. My Puppy: Outcome so far, this is what's getting to me:
I feel almost helpless. I'm not quite sure what to do. I can't NOT live in the apartment I pay rent for to suit the need of someone else. I make myself sick all the time from stressing about this single issue. It causes fights between my girlfriend and I. And I seriously don't like living in this building like this..... What should I do? Can I get in trouble from walking in my apartment. My dog walking? Her dropping a toy on the ground out of her mouth? [link] [comments] |
| Posted: 26 Nov 2020 03:00 PM PST |
| Can you leave furniture and closing in a foreclosed house when you vacate? Posted: 26 Nov 2020 02:12 PM PST |
| Choosing conventional loan over VA loan? Posted: 27 Nov 2020 01:12 AM PST I am trying to figure out what advantages VA loans have over conventional loan other than zero down payment? If I am planning to put 10-20% down (on a ~$400k house), should I choose conventional loan over VA loan? With conventional loan I don't need to pay VA loan funding fee (1.4 - 2.3% of the loan) and both interest rates are comparable. And if I am putting 20% down, I don't need to pay PMI with conventional loan either. So should I choose conventional loan over VA loan in this case? Am I missing something? Thank you very much! [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