Real Estate: What are some of the MUST DO things as a new homeowner? |
- What are some of the MUST DO things as a new homeowner?
- How much did you guys earn from the first year of being a realtor? What troubles did you face during that first year starting off your career?
- Seller's Agent not responding to my agent
- Inflation
- Would like to know what mortgage rates people are getting these days in California/Conventional 30 year loan / high credit scores
- Nearly all of them homes in my area have considerable issues. What should I expect house hunting for a fixer upper?
- Renting a condo, asked to sign AfBA
- Getting your real estate license
- Looking for realtor recs for Kirkland to Bothell area (Seattle, Washington/Eastside)
- To what extent are prices negotiable?
- Does the seller's agent have to be present for the final walkthrough?
- How do you purchase leads as a realtor?
- Broker's BPO commission?
- Apps/Sites
- Moving after less than a year? What are things to consider?
- Is a move in fee of $740 excessive?
- New address not recognized by USPS?
- Can/Should I combine two mortgages for two properties into one?
- "cash only listing"
- What material is on the real estate exam?
- Why do Mortgage Loan Originators (brokers) exist in residential?
- New account showed up before closing
- Appraisal 10k lower
| What are some of the MUST DO things as a new homeowner? Posted: 25 Nov 2020 12:50 AM PST We bought our first home and are 2 weeks away from closing. What are some of the things that I should do as a new home owner? My agent has awalled us after the sale went through. I keep sending them messages but there they barely respond. I can see that they check my messages but they don't answer. At this point it is hurting my ego just to ask them for help. They probably moved on to other clients. So I am posting here seeking all your help. Some of the things I can think of: - Sign up for gas and electricity Did I miss anything major or obvious? Your inputs are greatly appreciated. Thanks. [link] [comments] |
| Posted: 25 Nov 2020 01:34 AM PST |
| Seller's Agent not responding to my agent Posted: 25 Nov 2020 06:59 AM PST I found a property my partner and I are interested in. It's been on the market about 70 days. The seller's agent declined a showing request for Friday, but never said why. My agent followed up twice about it. I have no legal contract with my agent and am assuming the seller's agent is trying to be both the buyer's and seller's agent. Is it acceptable to try and schedule a chance to see it myself? Thanks! Edit to update: my assumption was wrong. The seller is controlling showings, as opposed to the agent. My agent thinks it's a reluctant seller and will keep trying. Thank you everyone for your insights and the options! [link] [comments] |
| Posted: 24 Nov 2020 10:18 PM PST I'm seeing a lot of posts about how price exceeds the value on these threads. I just want to caution others that perhaps if you look at the monetary supply (M2) from the FRED you can see this past year. https://fred.stlouisfed.org/series/M2 Sorry not trying to be obnoxious, I think that the point needs to be made that we are actually in a semi-short (several months) period of hyper inflation and this, coupled with access to easy financing (low interest rates, for example) are inflating the price of the market. This means that 2020 dollars in January and in November are not the same. Thanks for coming to my TED talk. [link] [comments] |
| Posted: 25 Nov 2020 07:03 AM PST Hi All, I just wanted to see what rates people have been able to lock in this month/week in terms of interest rates. We are proceeding with a home loan on new construction. -California - Sacramento Area We think we are doing everything right. Our loan consultant said with our good numbers we shouldn't have problems getting 2.875%. I know historically that is ridiculously low but with todays rates and our above numbers does that seem fair or still too high? [link] [comments] |
| Posted: 25 Nov 2020 09:04 AM PST Hi, all. First time home buyer here. I'm in a bit of a unique situation, and I'm wondering if anyone else has dealt with this. I live in rural Upstate NY and have been house hunting across 2 counties since summer. Nearly all of the homes in these towns are old, which is great since we generally like older homes and want a fixer-upper to make our own. A short drive around these towns will tell you that there *is* nothing but fixer uppers. New homes (anything built after 1970) are VERY few and far between, and unsurprisingly, go for much more than any other home. It was our dream to find a house that hasn't been updated in a while (bring on the orange shag carpet!) but was structurally sound, again, so we could renovate it to our liking. We always assumed finding this kind of house would be easy, but nearly every house we like at comes with considerable issues. Old roof, slanting floors, cellar being held up by metal rods, structural issues, you name it. These aren't homes that were abandoned or foreclosed on. These homes are also not priced far below the norm for the market because of their condition - their actually middle of the road. The more we look, the more it seems like just about every house we can afford (up to 150K, which is decent for this area) comes with issues that our realtor claims will make a sale difficult. Before shopping for a fixer upper, I expected to deal with at least some of these issues, but now it's seeming not worth it. I'm honestly becoming afraid of buying anything. My question is: for those who have bought fixer uppers. What "big" problems are generally expected/relatively easy to remedy...and what problems scream "for f***** sake, DO NOT buy this house"? [link] [comments] |
| Renting a condo, asked to sign AfBA Posted: 25 Nov 2020 07:54 AM PST So, this is my first time renting and I don't really have anyone to help me with the legal side. I've already signed a lease, dual agent contract, and a fraud prevention notice. The last bit I guess is something the agent forgot when we originally did everything, which is an Affiliated Business Disclosure Form. As a renter, am I required or recommended to sign this form? It reads like something that'd pertain more to owners than renters. [link] [comments] |
| Getting your real estate license Posted: 25 Nov 2020 10:43 AM PST I am trying to get my real estate license. I know that you have to pay for the class, the fingerprinting, the application, and the state exam. I am having some legal problems at the moment and I don't want to pay for the class and the $70 for the fingerprint see if I am just going to come back as denied. They are drug-related problems. I could buy the course and start studying tomorrow. I am currently out on bond and should see Court in two or three months. This gives me plenty of time to get my license, what would happen if I was a convicted felon. Is this possible to do? [link] [comments] |
| Looking for realtor recs for Kirkland to Bothell area (Seattle, Washington/Eastside) Posted: 25 Nov 2020 10:41 AM PST I have lived in this area for 5+ year and have made offers before 2 years ago but didn't win and gave up due to the frustration. Was really thinking to look for housing early this year again but covid made it weird and this area became very inflated due to low interest rates. I am looking to find an agent (with lots of patience :) for the eastside suburbs which is super super hot right now. I have gotten pre-approved for max conventional loan but most likely I would need a jumbo loan for a SFH or a detached townhome. [link] [comments] |
| To what extent are prices negotiable? Posted: 25 Nov 2020 09:59 AM PST Im searching in the Long Island region hoping to pay around 500. On Zillow ive noticed that houses are posted for a range of prices and they often sell for 10 or even 50-70k less than the asking price. To what extent are prices negotiable for the buyer? How do you know when an owner has marked up the price and expects it to be negotiated down? How do you know when a price is final and when it is fair—or when it is unrealistic? [link] [comments] |
| Does the seller's agent have to be present for the final walkthrough? Posted: 25 Nov 2020 06:09 AM PST So I closed on the property yesterday and because the seller hasn't moved out until today, I get a second, proper, post-closing "final walkthrough" tomorrow. During the first pre-closing walkthrough, where I could not see or access most of the home, it was clear to me that the seller's agent was trying to rush me and get me to check as few things as possible. E.g. she'd follow me into every room and ask questions such as "didn't your home inspector check all the windows already?". And even with that I was able to find damages, e.g. broken garage door, another broken door, two large (longer than 2-3 feet) holes in walls. So for tomorrow's walk through, the seller is asking me what time their agent should meet at the property. I would prefer to do the walk through alone (my agent is absent in all of this btw so it's just me solo). Can I tell the seller I don't want their agent to be there? This is in New York if it matters. [link] [comments] |
| How do you purchase leads as a realtor? Posted: 25 Nov 2020 03:54 AM PST |
| Posted: 25 Nov 2020 09:49 AM PST I'm studying to be a real estate agent. I plan do real estate part-time, conducting BPO's. Do brokers take the same percentage split for a BPO as they do for sale transactions? Any suggestions on what to look for in a broker for an agent doing primarily BPO's would be greatly appreciated. Thank you. [link] [comments] |
| Posted: 25 Nov 2020 06:03 AM PST Hey all, My SO and I are preapproved as of yesterday and in the process of searching for a house in a very hot market (Raleigh Durham area). Is there a site or an app you prefer more than others? Also, is there one that gives info on homes not quite listed? Thanks in advance :) [link] [comments] |
| Moving after less than a year? What are things to consider? Posted: 25 Nov 2020 09:42 AM PST My family bought our first home back in January. We unexpectedly ended up having another kid about a month ago and are finding ourselves with not enough room. My wife found a house nearby in the same school zone and wants us to go check it out. What are some things we should consider when thinking about buying again so soon? We bought our home with a 5% downpayment on $185,000 new house would be 300,000)Besides the extra space if we moved we'd be getting rid of a $280/mo HOA. [link] [comments] |
| Is a move in fee of $740 excessive? Posted: 24 Nov 2020 07:35 PM PST Hi, let me start off that I know Jack all about realty and all this stuff. I come here for knowledge! Basic circumstance. Rent is $732. Admin fee was $150.. application fee was $50. Security deposit is $200 and move in fee is $740 Is it reasonable for the move in fee to be more than the actual rent? From what I'm seeing online, it's absurd Do I even course of canceling or getting out of this situation. I'm already preapproved and sent my paystubs for final approval. Any help would be appreciated! Edit: from what I'm gathering from the comments, this "move in fee" is not a common term used, if at all. Ya boy just scared when an email is mentioning a move in fee and nothing about rent. (What I'm expecting is that it's actually part of the first months rent) Edit2: turns out their "move in fee" is first months rent. Why they would call it that is beyond me Thank you everyone for your help! [link] [comments] |
| New address not recognized by USPS? Posted: 25 Nov 2020 04:28 AM PST Just closed on a house in a rural area. There is no mailbox and no one has lived here for at least a year, but I'm on a main road I'm a town and there are folks living on both sides of me. I let the post office know verbally that I've moved in, and they said they'd let the carrier know and told me where I can put up a mailbox. The trouble I'm facing is when I go to put in a mail forward for USPS, the website says the address doesn't exist. When I try and change my banking address to here, they also say the same. I can't be the only one who has bought or built a house where there wasn't previously a USPS address....any advice? Is there a formal process? [link] [comments] |
| Can/Should I combine two mortgages for two properties into one? Posted: 25 Nov 2020 08:08 AM PST Say I have a mortgage with 170k remaining, worth 270k, so 100k equity. second property/mortgage with 90k remaining, worth 170k, so 80k equity. So I have 180k equity, also enough equity to cover my second mortgage. Would it be possible to eliminate my second mortgage (HELOC or something) or combine into my first? I actually have a better rate on my first mortgage too, but not by much [link] [comments] |
| Posted: 25 Nov 2020 06:36 AM PST i see a few cash only listings, they are being sold with tenants. can I use hard money even though listings say cash only? isnt it the same thing, closing will still take a few weeks if i use cash or hard money? [link] [comments] |
| What material is on the real estate exam? Posted: 25 Nov 2020 05:03 AM PST Just curious. What material is covered in the courses and the actual exam? Is it mostly laws, zoning, etc? I would love specifics if possible. [link] [comments] |
| Why do Mortgage Loan Originators (brokers) exist in residential? Posted: 24 Nov 2020 11:02 PM PST So I took the NMLS test and passed a few months ago but I haven't paid my fees yet to get the actual license. I understand the value of a mortgage broker in commercial deals but I don't quite understand the value of a residential mortgage loan originator? Anyone who is a prime borrower will most likely get tons of marketing emails about securing a loan for purchasing a home or refinancing their home. Not to mention they can just walk into a Chase, Bank of America, etc and just talk to an originator there. In addition, banks typically don't pay broker fees to brokers - you have to get the client to set up a separate fee agreement. So why do mortgage brokers exist in the residential world? Even if it were borrowers who are not prime borrowers, it would mean that it would be more difficult to get a deal done if they for example don't have the W2 income necessary or the right credit score etc. [link] [comments] |
| New account showed up before closing Posted: 25 Nov 2020 04:32 AM PST I accepted a credit card offer a few weeks before I applied for a house. I got preapproved and now it shows up on my credit report. I know you aren't supposed to add new accounts during the house buying process. But could this hurt if I opened the account before I applied? I actually thought that the account was already on my report but it wasnt. [link] [comments] |
| Posted: 24 Nov 2020 07:41 PM PST Hi everyone, My fiancé and I are buying a condo and we put an offer for asking at 170k. The appraisal just came back at 160k and the seller bought the place for around that 2 years ago. The condo is completely remodeled. We like the area and the price but are hesitant on buying at 10k higher. The market has been very hot where we are right now but I'm not sure how long it is going to last due to covid and unemployment. We've seen a lot of condos/houses that we've put offers on that got rejected and went for 10-20k more than asking. We're going to ask the seller to meet half way but would that be a dumb idea? Our realtor thinks we should stick to the appraisal. We've never bought before so I thought I'd ask for opinions. TIA Edit: Also forgot to add the seller wanted us to pay the selling fee when we started this process but we said no. Our realtor said he doesn't think he'll accept 160k. [link] [comments] |
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