Real Estate: I hate barn doors |
- I hate barn doors
- Got a full price clean offer on 2nd day of listing
- My husband and I tried to buy a home that is currently being used as a church but the bank won't lend. Why is this such a problem?
- Buying house from in-laws
- Considering offer with closing costs - selling home in Illinois
- Realtor Commission on a FSBO?
- Anyone know how Fluctuating SSI is handled w/ conventional mortgage?
- Do I buy mom out?
- Buying condo for MIL - risky to put name on deed?
- First house. Primary residence. FHA loan or something else?
- Vaccine - demand for city v. suburbs
- First time home buyer- need to move in ASAP
- Concerns with potential house purchase, sagging/sloped floors
- So... how bad are the so called "high crime" areas of los angeles? Maybe I can buy some tanks with the money saved from ditching culver city?
- Appraisal came in way higher than anticipated.
- Unusual counter offer by seller. Buyers pay appraised price?
- Unpermitted addition built several owners ago
- What low-cost or low-effort renovations make a property appear more luxurious and more attractive to renters?
- Looking to Rent a House
- If someone builds a mansion in a neighborhood of ranchers worth 100-160k, does it increase or lessens the property value
- First-time homeowner with yard any tips on what to buy
- Thoughts on quoted rate and points in LA area?
- Should I send a real estate agent a listing from another agent?
| Posted: 08 Nov 2020 11:27 AM PST A barn door isn't going to protect my wife's dainty ears and nose from the sounds and smells of me ripping ass in the ensuite bathroom as she tries to sleep in our master bedroom. Either cough up the money for a pocket door, or design a layout that can accommodate a conventional door. [link] [comments] |
| Got a full price clean offer on 2nd day of listing Posted: 09 Nov 2020 07:42 AM PST We are selling our home and just posted the listing on Saturday morning. We had lots of showings Saturday and Sunday, and by the end of Sunday we had an offer for full asking price with no concessions and just a normal inspection and appraisal contingencies. We know the state of the market right now but we thought this would take a lot longer.. which makes us think we maybe listed the home for too low? We need to decide by end of the day if we want to accept the offer or wait for more to come in. [link] [comments] |
| Posted: 09 Nov 2020 09:00 AM PST The property is zoned residential. The property appraised at $265,000 and our purchase price is $240,000. We were putting 10% down. It has Two kitchens but no garage. The house was orginally a house that converted to a church. It does need some basement work but it's not a safety concern now that showed up on inspection. There is also a little mold in the attic and some minor electrical fixes (less than $5,000). Multiple lenders said no just hearing it's a church. All the lenders were saying it would come down to the appraisal. It appraised so I don't get it. Can anyone help explain why converting a church (that still has the original house in tact) is such a problem with the banks? From what I hear it has to be a non conforming loan which would require a larger down payment. Why can't this be a conventional loan? Thank you in advance [link] [comments] |
| Posted: 09 Nov 2020 08:05 AM PST Is there anything specific I need to know? We will be getting a mortgage. [link] [comments] |
| Considering offer with closing costs - selling home in Illinois Posted: 09 Nov 2020 09:54 AM PST My mom has listed her home in IL and received an offer for $6k over asking but the buyers want their closing costs covered - which will cost about $6k. The only benefit for the buyer that I can think of would be that they get to finance more and bring less cash to closing. Does IL require the loan details to be included with the offer to purchase paperwork? My mom hasn't sold a home in about 15 years so the market has changed a bit. I am in southern CA so my home purchase search experience is way different as homes are receiving multiple offers and up to 10% over asking with all contingencies waived. I don't know if that awful trend has hit IL yet? Any advice would be appreciated and anybody from IL weighing in would be helpful. She is located in Lake County. [link] [comments] |
| Posted: 09 Nov 2020 07:54 AM PST I recently sold my home with a realtor. The house we are looking to buy is currently owned by a friend of mine, and he is doing FSBO. I like my realtor, and he's done a lot of work for us on both ends, showing us a lot of houses before we saw this one. but he didn't bring me to this house, and the seller isn't willing to pay any of the realtor fees. I've also been playing middle man a lot with the whole process so far, so there is no direct communication between the seller and my realtor. I don't want to walk away from my realtor, but I also think his 2.5% rate is a little steep for me to be covering on a $279,000 offer. Do I have options to negotiate this down? Is it a typical process in this situation? Like I said, I've been happy with the work my realtor has done thus far, and I'm not trying to screw him in any way. Thank you. [link] [comments] |
| Anyone know how Fluctuating SSI is handled w/ conventional mortgage? Posted: 09 Nov 2020 07:25 AM PST Hello fellow Redditors. I am hoping to buy a house soon, after lifetime of renting, my family is super excited about the idea of home ownership. We've been saving for couple years now so that we have the 20% plus closing, keeping my credit clean and staying debt free. I have been trying to learn as much as I can to try make sure the process go hopefully as well as possible. This Reddit and you folks have been a Fantastic resource and I greatly appreciate you folks and all the info you have freely handed out on here, I really have learned a lot in reading the various posts. I have a question I was wondering if any of you can help me understand. Is anyone familiar with how lenders handle Supplemental security income? My younger daughter is blind and receives SSI payed to me. My understanding is that as long as it can be expected for at least the next 3 years, which it can, it's can be used. One thing I am not sure about is, when my work income fluctuates the SSI also will go up or down based on earnings, So it's not always a full SSI check. I am unsure on what to tell the loan officers how much we get, Do I just tell them what the full check amount is supposed to be or the average of what it has been over the year? Really on the same note I am not sure how much to tell them my work income is, as it is based on hourly P/T job I have had for last 10 years can also fluctuate up and down from month to month. [link] [comments] |
| Posted: 09 Nov 2020 07:23 AM PST Should I buy my mom out? My Parents split with a house worth approximately 600k. There's a 200k mortgage left. My mom wants $150kish to buy out her half of the house. Me and my father currently live in the house. He has enough for the rest of the 10 year mortgage + bills. Would it be financially wise to buy out my mom in this situation? Currently Zillow estimates 5% appreciation of the house in the current neighborhood/city it's in. I would own half the house for roughly 150-180kish and my dad would continue to pay off all the bills/mortgages. I assume he would leave me the entire house in his will. I'm in a strut and would love some help. I am liquid enough to pay her off btw but would be most of my savings. I'm young 20s so I'm not sure if that makes a difference or not in this situation. [link] [comments] |
| Buying condo for MIL - risky to put name on deed? Posted: 09 Nov 2020 07:12 AM PST Hi all, My mother in law's financial woes are catching up to her, and she may need to seller her house asap. The foreclosure process just started. IF she is able to get a chunk of equity out (has about $300k) she can buy a condo cash. If not, my husband will use whatever cash she gets and finance a condo. She is a business owner that has been sued a few times in the past. She does operate under an LLC. But she is also very financially irresponsible and no doubt someone would put a lien on her condo in the future. TLDR; my husband may need to purchase a condo for his mother, she will be primary resident and entitled to resident tax rate vs investor rate. But it is too risky to put her name on the deed. Any other options to keep the resident tax rate? [link] [comments] |
| First house. Primary residence. FHA loan or something else? Posted: 09 Nov 2020 06:53 AM PST TLDR: early-mid twenties, $50k cash, $175k salary, five years of taxes proving income ranging from $40k-$75k. This year will be my first tax that shows my income to be ~$125k+. My credit is poor, sitting at around 680. This is due to a few collection accounts a few years ago (made the mistake of letting family use my credit for their rentals and of course they never paid their dues). Currently my credit is in the green and I have no loans other than like $13k in student loans. I want to buy a primary residence and live in it while renting out other rooms to minimize cost of living. I've read that I can use FHA loan and only have to put like 3-5% down with low interest rates. Is this true? Is this the best approach? If that's true then I can get a $300k home for only like $10-15k down...sounds too good to be true? How should I proceed? I have absolutely zero real estate knowledge besides what I've read online so far. Live in Midwest. [link] [comments] |
| Vaccine - demand for city v. suburbs Posted: 09 Nov 2020 06:42 AM PST With today's promising news on vaccine effectiveness, it got me thinking if we'll see a shift back to city center demand sooner than expected. I feel a lot of people made hasty decisions to move to the suburbs, spiking demand and straining inventory. If offices open back up and social lives in densely populated areas return to some level of normalcy mid-next year, will we see a reversion in the detached market? [link] [comments] |
| First time home buyer- need to move in ASAP Posted: 09 Nov 2020 06:21 AM PST Okay I know I might sound a little too optimistic. Situation: I live in Grand Rapids, Michigan. Been living with my boyfriend in a house owned by his parents. The mother hates me more than anything. I left pictures of my family and friends on the fridge and she freaked out and kicked me out. She said I have a week to move out (unrealistic). Boyfriend and I found a house. We already put in info for a pre-approval yesterday. We have a realtor (one from the website Movoto where the listing was shown). He said once we are pre-approved we can tour the house. House is $165,000 We are putting down $15,000 Hoping to pay $1,000 per month There is a family still living in the house. I understand we need a list of non negotiables, which we do. We also cannot be picky right now. Obviously if there are major issues with the house (which the independent inspector will find) then we will figure out a different option. So based on all of this info, if we get pre approved and there aren't major flaws in the house, how long should I expect everything to take until we can move in? I heard a everything takes a month, but we already have a house in mind. I know it will be a vague answer for this vague question, but I'll take any information I need. [link] [comments] |
| Concerns with potential house purchase, sagging/sloped floors Posted: 09 Nov 2020 05:13 AM PST I'm looking to buy a house, we love the house but the major concern is sagging/sloping floors. This is more towards the middle of the house and I didn't see any cracks in the walls. The foundation itself looked ok from my amateur point of view. The other thing is that it's a finished basement so I'm worried the inspector won't be able to give us any information and it will be more of a gamble. It is a very old home pre 1900, and has updates in general. Will an inspector or structural engineer give any info if they cannot see the joists from basement? [link] [comments] |
| Posted: 09 Nov 2020 08:21 AM PST I'm in the market for either a single family home or multi family, but am not some crazy high earner. And this market is insane. My family would be going in on a house/multi family to live in with a gross income of around 140-150k, have about 200k as a down payment from a sale of a passed relatives reverse mortgage house... That seems like a reasonable start, but you look at the prices and it just seems insane. So I see a lot of properties that are far more affordable East of Western Ave to past the 110... but the crime map basically shows that area as a sort of mad max no mans land. Is it that bad? [link] [comments] |
| Appraisal came in way higher than anticipated. Posted: 09 Nov 2020 07:13 AM PST Long story made short: House was listed for 199K. Because the market is so crazy right now, we offered $215K (We've lost many offers already prior to this one, even after offering 5-10K more than listing price). Our strategy was to offer $15K more and simply pay what the appraised value is. Well, that backfired. The appraisal came back and is "valued" at $218K. We tried disputing it and they've lowered it to $215K. Not sure what to do next. Edit: Do appraisals work this way? I thought appraisals were based off of the value of the house. Didn't think what was offered would make an impact on the value of the house. [link] [comments] |
| Unusual counter offer by seller. Buyers pay appraised price? Posted: 08 Nov 2020 06:20 PM PST I've recently had an interesting counter offer by a seller. The language reads: "Buyer to pay the difference between the appraisal amount and the purchase price if any." We suspect the seller thinks it will appraise for much more than the offer is for. I, nor anyone else I've talked to knows what they intend. I'm not willing to gamble on the appraiser. Any insight into what they actually want? Other than shaking us down? Thanks for any input. Edit-- Thanks for the input everyone. Based on the feedback it seems their agent may be inexperienced due to the poor wording, and the fact that it won't appraise for less than the loan, we're bringing 25% down. Our loan is well below what a likely appraisal is. [link] [comments] |
| Unpermitted addition built several owners ago Posted: 08 Nov 2020 08:53 PM PST Hi! We are looking at a home with an addition (about a 20 x 15 add-on to the back) that does not have permits on file. We are in Los Angeles (LA City). there's no chance of getting the current seller to help with permit. It seems like the addition was originally built a long time ago, maybe 1980s? and has been sold at least twice since whenever the addition was built. I have been reading a lot of posts on here about unpermitted work; unpermitted work is very common here so after a lot of research, I think resale is not much of a concern as other places. but I have a couple questions I haven't found answers to —
FWIW our home inspector said he sees no obvious code violations. Ofc I know the city would probably demand walls be opened up to look at stuff, etc. to verify. Thank you!! I really appreciate everyone's help :) [link] [comments] |
| Posted: 08 Nov 2020 03:27 PM PST I'm talking low-cost things - for instance, things like trim, doors, window dressings, maybe some kind of kitchen appliance, or in the alternative, low-effort things that may be more expensive, but a layman can take care of the labor. [link] [comments] |
| Posted: 08 Nov 2020 11:50 PM PST Hello Reddit world, I've never posted on here before so bear with me, but I'm really at a loss and thought this would be the perfect place to turn. My boyfriend (23) and I (22) are looking to rent a house after our apartments lease is up in February, we have spent basically the entirety of our lease length looking for a house to rent because we need more space, we hate dealing with our rental office, and would like the freedom of possibly having a yard and garage and such, whereas in our apartment we don't have anything like that. Our budget is $1,000 a month, but I'm having no luck finding any houses that aren't in a really horrible neighborhood. Can anyone help me or give me some advice? [link] [comments] |
| Posted: 08 Nov 2020 02:53 PM PST |
| First-time homeowner with yard any tips on what to buy Posted: 08 Nov 2020 06:43 PM PST Hi All, Been living in apartments all my life. Finally, have a house under contract with a front yard and back yard. The seller is taking their refrigerator too so wanted to ask you all what are the essentials items for homeowners for all seasons. Any credit cards or member store cards I should apply for after closing? Hopefully, some black Friday discounts pop up that I can utilize: [link] [comments] |
| Thoughts on quoted rate and points in LA area? Posted: 08 Nov 2020 10:18 PM PST Cashing out about $300k on my mortgage to pay off higher rate mortgage on an investment property. Subject cash out property is primary residence that is a duplex valued at $1.8-2 m. Have about $650k left on it. Citi matching another lender at 2.99% @ 1.625 points. Other lenders so far have quoted same rate BUT way higher points (one up to 2.5 points). I'm reading all these amazing rates on this board and am thinking it's still a bit too high. Thoughts? Experiences in cash out in LA area? [link] [comments] |
| Should I send a real estate agent a listing from another agent? Posted: 08 Nov 2020 05:19 PM PST I am working with a realtor agent for apartment hunting. They work for a realty organization that has a number of listings. I found another listing on a listing site (like trulia) listed by another listing agent. Would I be able to send my agent the listing to see if they have access to it, or is that not how things work? I'm confused/unclear about the entire workings of real estate. I see the listing, contact the contact person and see if I like it. [link] [comments] |
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