Real Estate: Open permits, just days before closing. Help? |
- Open permits, just days before closing. Help?
- How do you tell the quaity of a CONDO?
- Advice on Unprofessional Letter
- Get rid of PMI?
- Should I Purchase Owner's Title Insurance? What Would You Do? Is It Worth The Cost?
- Slightly higher rate with huge credit if we plan to refinance soon?
- Are you supposed to tell lenders you're rate/cost comparing?
- Would a weird driveway be a dealbreaker?
- Selling a Framed Home?
- I toured an apartment and it had a strong smell of chemicals/cleaning products. Would I be able to get rid of this?
- My offer was just accepted!
- Housing Market vs Commercial in current climate
- Would you settle on a New Construction home if there are still big jobs left?
- Sellers getting cold feet after we adjusted our downpayment from 20% to 10%
- creative realtor minds needed
- Buying a first home with the intent to move and rent it out within less than 4 years?
- Zillow or Opendoor?
- How will removing garage-ish shed affect property value
- Renting out my home in FL
- Hmm, I heard about some Shady PHX home builder tactics today...
- Should I (26f) buy a bigger place than I need?
- Is my agent being extra nice in offering to help with repair work?
- Home appraisal came back 11k over with repairs. Close is scheduled for 16th...
| Open permits, just days before closing. Help? Posted: 05 Nov 2020 06:45 AM PST Feeling a bit down atm. It was like a gut punch. Just when you think you are in the home stretch, after inspections, financing, underwriting etc. On the same day I received the ok from the lender only for the title company to let us know that there are open permits on the property. We are scheduled to close in 5 days. What recourse do i have? I'm guessing we cannot proceed with closing until these permits are closed out. (It was for a pool screen enclosure. Found out they failed inspection, and the permit expired). [link] [comments] |
| How do you tell the quaity of a CONDO? Posted: 05 Nov 2020 06:25 AM PST people here seem to ask this question with regards to homes, but when looking at condos in major metros, i dont know the foundation, what material was used in framing, insulation etc. Can I speak to a building engineer about these, is thi sa realistic expectation? How does one predict these and what are some signs (construction taxes flood zone etc) that might increase HOA down the line? Hoa shouldn't be the focus of htis topic, but these two seem inevitably interlinked [link] [comments] |
| Advice on Unprofessional Letter Posted: 04 Nov 2020 06:21 PM PST Our offer on a home was accepted. The next day, we asked the lender who issued our pre approval letter to match another rate we found. We received this email in response: I pass. We need to have started this morning to be able to meet deadline. The listing agent is going to be very upset she accepted your offer because I was the one doing the financing since she knows/trusts me. Shopping around wasn't advisable. I'm sure the listing agent is going to be all over you and your realtor to make the dates or there may be penalties. What is happening? I found the lender online who happen to know the listing agent. The contract does not indicate I will go with this lender who issued pre approval letter. Isn't it standard practice to shop for rates prior to securing a loan? [link] [comments] |
| Posted: 05 Nov 2020 07:48 AM PST I bought my house a couple years ago. I've since done some renovations to it and the housing markets gone up a bit. How do I get rid of PMI? Is it enough to just get my house appraise and tell the bank that my mortgage balance is now less than 80% of the value of the house? Please help. [link] [comments] |
| Should I Purchase Owner's Title Insurance? What Would You Do? Is It Worth The Cost? Posted: 05 Nov 2020 06:17 AM PST Hi everyone, Throwaway account for obvious reasons. I am facing an interesting situation with Owners Title Insurance and would love you to weigh in with your opinion. Here are the facts:
Here are the subjective pieces to the puzzle:
I head to closing tomorrow and could not be more excited. If you were in my shoes, would you purchase the optional Owners Title Insurance? I am putting down a good chuck of my money to purchase this property and would like to save the $1350 if possible. If I am being incredibly dumb, say so. Thank you so much for your guidance. [link] [comments] |
| Slightly higher rate with huge credit if we plan to refinance soon? Posted: 05 Nov 2020 06:03 AM PST We're buying a property with 5% down that we plan to renovate prior to move in and refinance in around a year or so. Better mortgage is offering 30 year fixed 2.875% with a $1200 credit towards closing costs or 3.00% with a $3200 credit towards closing. The difference between the monthly payments is like $19/month. Is there any reason why I wouldn't want to pick the 3.00% offer and use that saved cash for renovations, especially if I plan to refinance the property after we renovated it and increased its value? [link] [comments] |
| Are you supposed to tell lenders you're rate/cost comparing? Posted: 04 Nov 2020 06:27 PM PST Went under contract on Monday (first time homebuyer). Asked the three lenders I'd gotten pre-approvals from to send me updated loan estimates with the purchase price and down payment amount. Compared closing costs, interest rates, etc. then picked a lender. Sent emails to the other two lenders saying I was moving forward elsewhere, and thanked them for their time. One responded that she had actually given me a higher example rate because she didn't know I was shopping around, and that the rate was actually lower today, but she didn't put it on the estimate. Is this how it generally works? Do you have to be like, "hey, give me your best offer"? I guess I just assumed that saying you're under contract and asking for updated estimates implied you're trying to pick a lender. [link] [comments] |
| Would a weird driveway be a dealbreaker? Posted: 05 Nov 2020 09:08 AM PST The home is at the bottom of a quiet cul de sac and the driveway entrance sort of gets interrupted by the sidewalk due to the weird angle? You pull in and then the home is sitting towards the right. It will be tight to park two cars there, especially backing out I might back over the sidewalk a bit and the grass just because of the angle. Bad design. Would prob have to park on the street if I'm really uncomfortable but I love everything else about the home 😠[link] [comments] |
| Posted: 05 Nov 2020 09:03 AM PST Got a call from a Family Friend who is a real-estate investor and planning to sell the property as a customizable framed property. The property only has the frame up, I just don't know where other than Zillow and Craigslist to list something of this nature? Thanks for all your help. VERY NEW so go easy on me will ya! [link] [comments] |
| Posted: 05 Nov 2020 08:39 AM PST It sort of smelled like cleaning chemicals, it was pretty strong. The landlord said the apartment had yet to be cleaned though. I'm general, can these types of smells be dealt with? Thanks. [link] [comments] |
| Posted: 04 Nov 2020 04:21 PM PST Been looking to buy a home for the last year. The market has been so aggressive, it was hard for me to find what I was looking for before it would get sold. Prior to looking I had my mortgage broker get me preapproved. All I provided was 3 months of my check stubs. After I found my first potential listing, and I gave him the purchase price, provided me with an interest rate and monthly payment with insurances, etc included. And now, here I am with an accepted offer....FINALLY. It's been a journey for sure. I told my broker that my offer was accepted and asked if there was anything needed at this point. He asked for statements of all bank accounts & savings accounts, 2 previous tax returns and check stubs again. I don't want my wife to get too excited just for this to fall through. But we hadn't gotten this far in the process before. Is it possible financing would fall through at this stage or my estimated payment would be drastically different after providing hard copies of all my docs? [link] [comments] |
| Housing Market vs Commercial in current climate Posted: 05 Nov 2020 08:36 AM PST I personally expected housing values to drop with the progression of COVID economical impact, but I haven't been seeing that for the most part. Locally - home listings have not budged, in fact. Considering loss of jobs, decreased income, uncertainty, less opportunity, flooded job market, evictions looming, banks lending habits changing, combined with stagnant/increasing cost of living...etc Can someone explain to me what may be causing this and if there is any community consensus on (if) how much and when anything will change? I presume, initially, it is because those that were planning to buy homes were on the market for a home regardless and any changes may be lagging? [link] [comments] |
| Would you settle on a New Construction home if there are still big jobs left? Posted: 05 Nov 2020 08:32 AM PST We are scheduled to close on our new construction home tomorrow and there are a few big jobs not yet completed. The biggest unfinished job is the asphalt for the driveway isn't poured, big mounds of dirt on the yard (that will need to be graded), and automatic garage door openers not yet installed. There are many other smaller jobs that will also need to be completed. Would you sign at settlement and hope this work is completed in the near future? Or would you wait to sign the settlement until all the work is done? [link] [comments] |
| Sellers getting cold feet after we adjusted our downpayment from 20% to 10% Posted: 05 Nov 2020 08:21 AM PST as a background my agent intially asked us what we were "planning" to put down but said that we could likely change it if need be. here in NY you submit an offer BEFORE inspection so our first inclination was that we would go with 20% down to avoid PMI. after the inspection report came back we realized there were quite a few large, deferred expenses so we ramped down our downpayment to 10%. is it true that this makes it more risky for the seller due to financing concerns? we are already pre-approved for WELL above the purchase price. [link] [comments] |
| Posted: 05 Nov 2020 08:18 AM PST Here is my situation EXTREMELY simplified. Selling home in CA, after the sale I will walk away with $600k. Moving to KY/buying a house in cash for $300k. Both markets VERY hot (sellers market). Want to have a seamless transition from CA to KY. The best option would be renting in KY temporarily until finding a home/losing on a home in new state. This won't work because every rental in the area will not allow dogs and/or doesn't have a fenced in yard. What is an alternative way to make a smooth transition? Some thoughts with its own drawbacks: Rent back agreement - the rental rate for my house in the area is easily $5k/month and also don't want to scare off buyers with this contingency. While "renting" my own house, I would fly to new state and put offers down, hoping to close sooner than later since I would have $300k in bank. But I am curious since everything is negotiable, I can negotiate the monthly rent? Is this unpopular? Something "creative" to think about is also just getting a loan instead of paying for a house in cash. In this market I am not so sure a cash offer means much to a seller who knows their house will sell. Yes there will be fees and interest paid to go this route, but with interest rates so low it may be worth not having a paid for house to leverage money better? Thoughts? Please ask questions for more info- thank you all in advance so much. [link] [comments] |
| Buying a first home with the intent to move and rent it out within less than 4 years? Posted: 05 Nov 2020 08:10 AM PST I'm curious about the wisdom in this, and what kind of factors to consider. I work remotely and my girlfriend is in grad/ med school so we will be moving several times in the next 10 years. Some of the programs have her splitting her med school 1/3 or 2/2 years in one location and then another here in Texas. I'm considering buying a starter home with 20% down and then renting it out when we leave. What factor go in to determining if this is a good decision? [link] [comments] |
| Posted: 05 Nov 2020 07:33 AM PST I know that both of these services generally provide low ball offers and their greatest asset is the speed that they provide. However, just out of curiosity, if you had to sell your home to one or the other, which one would you go with? What are the advantages/disadvantages of each vs each other? [link] [comments] |
| How will removing garage-ish shed affect property value Posted: 04 Nov 2020 10:25 PM PST I live on a tiny 3300 sq ft lot in a small town (where the average lot is more like 8000-10000 sq ft or so). We have almost zero back yard which is a bummer for my two boys. There is an old 16x14 "garage" that is taking up space that could be used instead as a backyard. I use quotes because it is not really useable as a garage. The structure is only sitting on a foundation on 3 of the 4 sides, and the foundation is cracked all the way through and uneven. The doors are not overhead doors but instead are wide doors that swing out and scrape on the concrete because the hinges sag. The only good thing that can really be said is that it has electrical service (screw-in fuses). I am really considering tearing it down and just using the carport that sits directly in front of the garage. This frees up space that when combined with a nice privacy fence, could be a cozy little back yard. However, I feel like removing a garage will hurt the property value, my question is, what do you think the damage will be? [link] [comments] |
| Posted: 04 Nov 2020 06:42 PM PST My husband and I own a home in Fl, our mortgage is about $700 a month and it seems like rent in our area has really gone up over the past few years, homes in the same neighborhood and in the same condition are going for $1800 on average. We are thinking of renting our home out, and renting a place closer to our jobs. I really just wanted to see if anyone had any advice for renting out your home in FL. Do you recommend a property manager? Also, looking to rent a home of our own for about $1500 ideally keeping our monthly expenditures about the same (since we will be profiting about $1000 a month from the rental) how's my math? What costs do I need to a count for monthly. Definitely going to have a cushion for gaps or repairs. Just want to get my head wrapped around the process so I can understand it and figure out if I can do it myself. Any advice at all is appreciated!! [link] [comments] |
| Hmm, I heard about some Shady PHX home builder tactics today... Posted: 04 Nov 2020 03:38 PM PST I was told by a few people that builders around the Valley are raising prices on folks who've already signed their new home contracts. I even heard one story where they called someone right before closing and offered to buy them out of their contract. This doesn't seem ethical and doesn't sit right with me. I was under the impression after you sign your contract, you pay what was agreed. Have you heard of things like this happening in this ridiculous housing market in your market? [link] [comments] |
| Should I (26f) buy a bigger place than I need? Posted: 04 Nov 2020 10:06 PM PST I live in a HCOL area (Seattle) and am looking at townhouses around $750k to $1 mil. I'm lucky enough to have a lot saved up and a great paying job, and anything within that range is financially comfortable for me. Right now, I have my eye on a place that is $780k that would be perfect for me right now (1200 sq ft, 3 bed, garage, safe location and close to downtown), but there's a nagging feeling that I should go for a bigger place because I can afford it and so it'd be more future-proof. My main worry is that in 3 years I'd wish I'd gotten a bigger place with the hottest amenities like a rooftop, AC, etc. Especially since I think the Seattle real estate market is going to grow a lot, I feel like it'd be a better investment to get a really nice (but expensive) place now so it'd increase in value more. These places would cost $900k+. On the converse side though m, maybe in 5 years I'd want to move to a single family home with a yard in the suburbs. In which case I should have just gotten the house that was perfect for me now instead of for some projected future me. Maybe it would be smarter financially if I invested the difference between the 780k and 900k place in the market. I'm a bit confused here and would appreciate any thoughts on this. Thank you in advance! [link] [comments] |
| Is my agent being extra nice in offering to help with repair work? Posted: 04 Nov 2020 06:08 PM PST My wife and I just closed, and I just made the 3% earnest deposit today! We've been with our agent on the property a few times over the last 2 days, and he has made continual suggestions on what should be fixed or looked into during closing. Some things are big, such as popcorn ceiling inspection/removal, replacing the 30-year-old roof. Others are minor jobs, such as fixing the broken chimney cap, adding a gutter, trimming branches over the roof. In all of these things, he offered to help us hire the necessary people and fix them. My question is, is this something a buying agent is responsible for, or is he being extra nice and helpful? If it's the latter, I don't want to impose too much. He's been reliable and good to us. But if it's the former, there's definitely a list of things I can forward him that could use repairs. [link] [comments] |
| Home appraisal came back 11k over with repairs. Close is scheduled for 16th... Posted: 04 Nov 2020 01:51 PM PST Bank is asking for inspection and a structural inspection with all repairs made by close. We put in an, as is, offer on a fixer upper and were planning to make repairs ourselves. Not sure what the best way to proceed is. Our lender is quicken loans and it's FHA. Any insight would be much appreciated. [link] [comments] |
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