Real Estate: Why are you waiting to sell your house? |
- Why are you waiting to sell your house?
- First home purchase felt way to easy... We got lucky
- Tenant enters rehab, now what
- How should I purchase my house from my landlord?
- Large walk in shower or his/her closets in master
- (NY) My wife says I'm being too picky. But am I?
- [MI] Interest rates are low, prices are double since 8 years ago
- Looking to buy 2 family, does title search verify?
- [Houston, TX] Worried about this market, not sure if I'll be able to find the house I want
- Significant Increase in Taxes on Closing Disclosure (MA)
- HOA Disclosed Special Assessment to Outside Buyer before Homeowners
- Looking for historical info regarding new house
- Buyer Per diem fee for late closing
- Investing stock gains into real estate with paying capital gains. 1031???
- real estate question for a noob
- Closing Thursday! What should I expect and other questions--
- Quitclaim Title with taxes owed.
- Real Estate agents in the GTA: what percentage of your transactions come from being a buyers agents vs a sellers agent.
- Looking to buy a new property and sell existing property at the same time.
- What type of zoning do I need?
- Sellers market
- Cash purchase of land accepted 3 months ago
- State income tax vs Property tax
- Refinance an investment property
| Why are you waiting to sell your house? Posted: 08 Nov 2020 06:02 AM PST I know inventory is extremely low all around, but I want to hear from some would-be sellers as to why you aren't putting your house up. I am so dismayed at how few houses (few for sale, there are plenty there) are in the area I want, and I want to know which factors are making people hold off, and how long do you think you'll wait now? TYVM [link] [comments] |
| First home purchase felt way to easy... We got lucky Posted: 08 Nov 2020 07:55 AM PST Alright gang, like the title said our first home purchase was a breeze and it felt way too easy. We know we are lucky but I hope that this little story of our experience is an encouragement to people (like me) who read the stories here, hear friend's experiences and get anxiety at the idea of starting the home process. We live in a very competitive market and had friends looking for months! So story time: Back in March at the start of the pandemic we realized that for the sake of our sanity we needed to get out of our 650 sqft apartment and buy a house. We had been very aggressively paying off student loan debt but saw that if we pumped the brakes on that front and saved rapidly we could start shopping in November. Well end of September rolls around and we get word that a family friend is selling their house for sale by owner, unique property that had something that was my wife's dream and long story short that did not work out. We were super bummed that first day of Oct but I knew we would find something we liked but knew it'd be a process. So I was looking at Redfin saw a knew listing in a neighborhood I loved pop up that was just put on the market 4 hours earlier and I sent it to my wife as like a "look babe there's other homes out there". I see here 15 minutes later and she said "did you text our realtor and tell them to make an offer on it?" and I was like what?! Sight unseen we put in an offer the next morning (oct 2nd) and that afternoon we went to see it in person. Our approval was affirmed and we were glad to put in the offer but were hesitant to get excited. Our offer was for the listing price, our realtor confirmed it was a great price for the size, condition, and area. He was upfront and said at that price for this home he expected multiple offers to come in this weekend and we will probably have to put a best and final offer on Monday. Sunday Oct 4th, we were taking with some friends and told them about it. My wife got was trying to stay realistic and hold out on excitement and I said "you never know, the owner may not even care about money and get want a nice young couple to move in and start a family there". She laughed and said "yeah right". Two hours later we got a call from our realtor that the sellers agent called and said the owner loved my letter and doesn't really care to entertain other offers. He doesn't care about the money, he excited to sell to a young couple looking for a home for their family." So we had verbal acceptance and by 7 pm we were under contract. ON THE FIRST MLS LISTING THAT WE PUT AN OFFER ON. Lending underwriting and approval went great. Inspection went as expected for a house that was 45 years old. Seller agreed to a $1000 closing credit for some repairs and agreed to pay for home warranty. House did appraise for 5k less than contract price. Both realtors had comps to justify the contract price but because the appraiser was behind schedule on appraising by a few days we didn't have time to wait on a reevaluation of appraisal if we wanted to close on time. Seller agreed to meet us halfway, so price was adjusted and we brought 2.5k more to closing. Closing after that went smooth, final loan approval and final CD came through. No title issues. So we closed on the 4th and we moved everything in on the 6th! TLDR: We live in a competitive market, were kinda dreading how stressful it would be to buy a home. But we got the first MLS listing we put an offer on with very little hiccups. [link] [comments] |
| Posted: 07 Nov 2020 06:30 PM PST Hi, I'm seeking advice on the above situation. Our tenant moved into the property in September but just recently checked himself into rehab. I did a courtesy check to see if he was ok and found a note about his decision. I'm in talks with his parents about what to do with his belongings. Does anyone have any advice on what I should or should not do in this situation. Thank you [link] [comments] |
| How should I purchase my house from my landlord? Posted: 08 Nov 2020 03:56 AM PST Hello all, I'm seeking advice on how to purchase the SFH we are currently renting. My husband & I are pre-approved and ready to buy our first home. We live in a fantastic rental home (definitely the least nice home on our street) and would love to purchase it & renovate. When we originally toured the house, our landlords sister showed it to us and mentioned, "maybe he'll want to sell it to you one day". Our landlord is also a realtor and we want to approach him with an offer to buy, but we don't know what the right tact would be. I already have a realtor and she mentioned that we would have to pay her commission since it would be an off market purchase. Here's the thing - we have an incredible landlord. Very honest and helpful guy. Our relationship with him has always been great and I think he would be open to selling. The house were in is worth around 400k and paying a 3% commission to our realtor would be 12k out of pocket. This seems excessive for what I would expect to be a smooth purchase. My questions are:
I'm sure there's more info I'm not thinking about. I'm totally open to any suggestions or thoughts that you may have about this potential transaction. I really don't want to risk losing this opportunity. Thank you! [link] [comments] |
| Large walk in shower or his/her closets in master Posted: 08 Nov 2020 09:23 AM PST Which would be preferred in a master bath, large walk-in shower (6x8) or his/her closets? Thoughts? [link] [comments] |
| (NY) My wife says I'm being too picky. But am I? Posted: 08 Nov 2020 09:12 AM PST I'll admit, I'm a relatively picky person. When I need a new username, gamer tag, or email address, it can take awhile. I like close to perfection, although I know actual perfection, especially in the sense of buying a home, doesn't exactly exist. Where we live the housing markets is a total sellers market, and it's booming. We've looked at over a dozen homes within our budget of approximately $330k (varies depending on taxes). I've liked a few, two of which we put bids in for and lost. Another one already had already accepted an offer and we didn't know until after we got home from looking at the house. Last night we went to look at another house with our agent. Our agent knows these people so we got in quick to look at the house for a private viewing. I don't mind little things that need to be done... Like as soon as we walked up to the front steps the railings were in dire need of paint. Whatever. Then we get to the door and the front door knob (inside) is busted and dangling; the interior door looks like crap... It's supposed to be white (I think) but was a hue of yellow. Whatever, I guess. We start walking around the house and I quickly notice that NO door ways have molding around it... It's just wood, some of which you can see through the cracks around the frame when the door is closed. At the bottom near the floor there are cracks and no molding again... It just looks bad to me. The bathroom looks like it's from the 90s. The sink has had a leak long enough it's made a brownish impression. The master bedroom was the garage converted, which was a nice size, but I didn't like the feel of it. Come to find out there's no permits for that or the exterior deck, so that could be a problem in the future for sure. To me, the cons outweighed the pros by far. I try - try - to keep an open mind, but I don't want to have to drop $70k for a down payment and take out a mortgage for the rest of the $330k to have to drop even more money into the house, a fair amount by the way. Like I said, paint is OK, some updating here and there is OK. But molding for each and every door? Or whatever it is called. Plus the permit issues. Plus the bathroom. The only things I did like was the kitchen which was beautiful and updated and the yard. Sorry if this is more for /r/relationships. I just feel frustrated and feel like, I dont know, maybe I am being too picky? But then I also think I am being justified in not wanting a house that doesn't feel right. My wife wants to get out of my parents house, which I don't blame her, but that shouldn't mean we just take any house to do that. We have a good relationship with my parents and this is allowing us to save even more. Thoughts? [link] [comments] |
| [MI] Interest rates are low, prices are double since 8 years ago Posted: 08 Nov 2020 09:07 AM PST Hi, Im a relatively young person who's next goal in life is to buy a house to live in/keep for however long. Im looking in the metro-Detroit area and for the life of me I cannot see how buying any of these houses wouldn't put me under. It seems theres been an exponential rise in home prices since 2012 some homes even doubling I am worried if I buy one of these houses I would go upside pretty quickly whenever these overvalued houses drop in price once this wacky sellers market leaves. Thoughts? [link] [comments] |
| Looking to buy 2 family, does title search verify? Posted: 08 Nov 2020 09:03 AM PST Looking to buy a 2 family, does title search confirm the proper zoning etc or do I need to call the town myself to verify its a legal 2 fam? [link] [comments] |
| [Houston, TX] Worried about this market, not sure if I'll be able to find the house I want Posted: 08 Nov 2020 08:46 AM PST I'm currently saving up for a down payment on a house, looking in the $200k-$260k range. I want to get close to 20% if able so I'm not paying much in PMI. I'll probably be comfortable to start seriously looking with enough saved up by Spring 2021, I'm just worried about how the housing market is going to be then. Will inventory continue to decrease and prices keep increasing? For a background I'm single, early 30s, tired of renting and ready to put down roots. I'm just worried I'll be renting forever with this insane seller's market right now. Thoughts? [link] [comments] |
| Significant Increase in Taxes on Closing Disclosure (MA) Posted: 08 Nov 2020 05:16 AM PST I am currently in the process of closing on a condo in Boston. I received my Loan Estimate about a month ago from my lender and it reflected the taxes that were on the listing and on the City of Boston online assessment tool. I received my Closing Disclosure last night and the taxes increased significantly to match the tax rate of the appraised value (which is even more than I paid for the property). While I understand that my taxes may eventually go up to match the sale price I am surprised given that the property has already been assessed by the city for FY2020 and FY2021 already. Has this happened to anyone else? Is the lender allowed to escrow for such a significantly higher amount than the taxes owed? [link] [comments] |
| HOA Disclosed Special Assessment to Outside Buyer before Homeowners Posted: 08 Nov 2020 08:39 AM PST We are selling a townhome within an HOA community and the most recent contract to sell fell apart because the HOA disclosed directly to the buyer of a special assessment they are planning for 2021 for roof repair on all the units. The problem is that this assessment has not even been disclosed to the homeowners so we found out about it through the buyer rather than the HOA. This assessment has not been voted on or ratified and the assessment estimate of $5k isn't final. We believe that the HOA should not have disclosed this assessment as it was not pertinent to the contract at hand and went beyond what they are required to disclose for the sale of a home. Ultimately we are wondering if we have any recourse against the HOA for directly killing the sale by providing information to the buyer for something that might not even end up happening and for a cost that is purely an estimate when the homeowners weren't even aware of it and therefore hadn't disclosed it. [link] [comments] |
| Looking for historical info regarding new house Posted: 08 Nov 2020 08:33 AM PST Hey guys, my girlfriend and I are moving into a new place this weekend and it is very exciting. However, with it being an older house that was built in 1943, I wanted to do a little digging to find out the history of the house and see if anything has happened inside the house and who the previous owners were. Is there a website for this kind of information or do you think library research would be the best route? Older houses kind of creep us both out especially late at night, so any piece of mind would be a great help to keep our wild and crazy imaginations at bay! Thanks. [link] [comments] |
| Buyer Per diem fee for late closing Posted: 08 Nov 2020 08:03 AM PST I need to switch lenders midway in contract. Asked for seller extension. from my agent, seller is not happy. Is it common for sellers to ask for per diem fee to pay for carrying cost? San Francisco market if relevant. [link] [comments] |
| Investing stock gains into real estate with paying capital gains. 1031??? Posted: 08 Nov 2020 07:50 AM PST Recently with the stock market being speculative I invested money into NIO. I am considering using my profits to invest in a duplex but not sure how to avoid paying the capital gains on my profits. I am looking into using a 1031 exchange but I am not sure if these would be considered "like investment". If any one has some insight on what I can do... please let me know. I am trading under my personal account and recently opened an LLC account that I have for my rental properties. I have not funded the account yet. Thank you in advance! [link] [comments] |
| real estate question for a noob Posted: 08 Nov 2020 07:24 AM PST so could i finace a house and rent it out, can u finance it for the longest time posssible bring the monthly fee down to the minmium so u can collect more cash flow from your renter ? [link] [comments] |
| Closing Thursday! What should I expect and other questions-- Posted: 08 Nov 2020 07:20 AM PST Hey all!! They finally cleared the estate and issued my CTC late Friday evening. We go on Thursday. I'm going to work on utilities on Monday(no one available on a weekend). What should we expect? Sign sign sign? Are keys given there or at the house? I'm told seller will be there before us. Is it best practice to cut your check on the day of closing or before? I was going to do it early, but I wonder if its best to wait in case something happens? [link] [comments] |
| Quitclaim Title with taxes owed. Posted: 08 Nov 2020 06:29 AM PST I looking for insight on whether or not I can quitclaim a deed that has a year's worth of delinquent taxes. The back story is, my parents have passed and one sibling is currently in the home. Unfortunately he hasn't paid the taxes on the property (per our agreement). My other sibling and I would like to give him the house (that was always the plan), but I'm wondering if the back taxes have to be paid first before we can quitclaim the deed. Thanks for any insight! [link] [comments] |
| Posted: 08 Nov 2020 05:50 AM PST I have 2 friends in it. One was struggling in the beginning. But a mutual friend just got in the real estate game and she said she's not used to it. I told her in the beginning that our friend was struggling but didn't tell anybody. I think he thought he was going to make alot of money and fast. But in reality he was closed on 7 homes and I'm pretty sure he split it with his dad who he works with. Out of curiosity do most of your sales come from you being a buyers agent or a sellers agent? [link] [comments] |
| Looking to buy a new property and sell existing property at the same time. Posted: 08 Nov 2020 01:53 AM PST Hi all, My situation here is that i currently have a property im living in currently, still have about $350,000 in mortgage repayments left. Recently married and need to upgrade to a bigger house. We found a property recently on the market that is quite ideal. I'm thinking of putting my property on the market, current general value of the property is roughly $750,000. The property we want is asking for roughly $850,000. What im thinking: If i can sell my property for say $750,000, minus the mortgage amount ($350,000), i'd have $400,000 in the pocket. We have about $150,000 saved, plus the $400,000 will be $550,000. We would then need to borrow just $300,000 in mortgage from the bank to purchase this property. Questions: Because i have not sold my property yet, should i just go and get a preapproval from the bank for $850,000 and contact the realestate agent and make an offer for the new property? Or should I go ahead and tell the bank my current circumstance and just get a preapproval for $300,000? Or any other options that i should consider? Thank you! [link] [comments] |
| What type of zoning do I need? Posted: 08 Nov 2020 05:05 AM PST I am starting a new wholesaling business where I will be selling products that I have created to retailers around the United States. I want to buy a house with a barn on it and turn the barn into a warehouse and sales office. I will be having trucks come in and out of the property plus I'll have employees on the property. What type of zoning will I need? [link] [comments] |
| Posted: 07 Nov 2020 10:51 PM PST I heard now is a good time to buy a house because of low mortgage rates but then someone else told me no it's a sellers market still. So is it a good time in Texas or not? And if you wait for a buyers market will the interest rates go up? [link] [comments] |
| Cash purchase of land accepted 3 months ago Posted: 07 Nov 2020 07:39 PM PST A cash purchase offer on a plot of land I wanted to buy was accepted Aug 18th, and they still dont know when the close date will be. Apparently the seller had previously subdivided the land into two plots but had sold it to me as a single plot and need to go through the town to get it redrawn. Is there like a penalty for taking super long? Or can you legally back out of a deal if it does not close in. a reasonable amount of time? I want to find a way to put pressure on the seller. [link] [comments] |
| State income tax vs Property tax Posted: 07 Nov 2020 04:21 PM PST State income tax vs property tax ? Soo I've really narrowed down my move to two states Washington and Colorado. Washington state no state income tax which is nice however the property taxes are high. Colorado state income tax is reasonable especially lower than what I am use to paying in California the property tax is also low. What's more important when looking to move overall ? [link] [comments] |
| Refinance an investment property Posted: 08 Nov 2020 02:13 AM PST Hope this community is thriving and doing well. I recently signed up on two properties, primary and investment, although as timing would have it, I ended up choosing the investment as the primary residence which also implies I'm paying for a higher interest rate. Since I couldn't immediately refinance the investment as the mortgage was acquired just a month apart, the banker suggested checking in after 12 months to see if I can get some cash flow (if I require) through a HELOC which I'm a little skeptical about, I was wondering if there's a better way to not wait for a long period and instead apply for a refinance to lower the monthly PMI? Has anyone been through a case like this and would be willing to help a fellow Redditor out. I would really appreciate any help from this community. Thanks a lot! [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