Real Estate: does this seem like a scam to anyone? they say they will text me the code for the key but cant meet in person due to covid |
- does this seem like a scam to anyone? they say they will text me the code for the key but cant meet in person due to covid
- I looked into Buying a House and now I dont think I should but I’m being pressured by a close friend (long story-ish)
- Which loan companies WON'T sell my mortgage??
- Help me choose an agent?
- Why are folks in this sub not hiring professionals to assist them with a purchase?
- Neighbor house just went pending after I started a refinance. Should I wait for their sale to close before getting assessed? US-CA
- FTHB Last Day to Close is 16th But Title Search Still Isn’t Done
- Buyer can’t sign on property because spouse is in hospital with COVID. Any experience shares to get someone paperwork to sign while in the hospital?
- Anyone have any personal experience with Alternative or B lenders?
- Philadelphia notary signing agents is the money worth it?
- What is the etiquette for bouncing competing REFI offers between brokers?
- [MI] I am selling my home and have had to sign 4 extensions for the closing date. Worried about my mortgage and HOA fee's now as they are due for December.
- Refinancing and wondering how legit CreditKarma rates are. (CO)
- First Time Home Buyer needing help
- Real estate partnership LF advice
- Capital gains on rental property questions
- Flippers, What's the most net profit you've made in one flip and how long did it take you?
- How much to offer/target price to buy: owner/agent flip with note about to come due
- We weren’t on schedule & I just found out we are closing NEXT week!!!
- I'm looking for my first apartment and I think I've found the perfect one. But may not make enough. Should I try to apply?
- Some questions about getting a real estate license in Washington
- Should I help my parents purchase a home?
- Advice for purchasing a property with my brother
| Posted: 09 Dec 2020 05:37 AM PST https://charlotte.craigslist.org/apa/d/charlotte-spacious-furnished-4bed-3bath/7244119827.html edit: yes its a scam and yes i reported it [link] [comments] |
| Posted: 09 Dec 2020 08:03 AM PST So, I'm currently 21 and live in an apartment with my boyfriend and our rent is $1010 for a one bedroom one bathroom apt on the 3rd floor, I have thought about buying a house and i have $4000 saved up to do so and it would be my first home. I started looking into it thinking i could possibly get a mortgage in my price range and then my friend asked her mom to help me because her mom knows someone whos a realtor and could approve me for a loan to buy a house too. Now, i let her pull my credit which is 675 and she approved me for a house with a mortgage of like 1300+ and I only make 1430 every two weeks as a RN. Now that was a red flag to me bc i also have a car payment and student loans that are going out of deferment in January and my car payment is $385 a month and my student loans are $200 a month. And so since I only make around 2800 every month taking out my other bills I'd only have $2215 left for the entire month. And I also have car insurance I have to pay which is around $190. So, after all that Id only have $2025 left for everything else. And if my mortgage was 1300-1400 like this realtor is suggesting, I'd have $725 for groceries and all of my other bills... (not including my boyfriends income bc If I buy a house I want to be able to afford it on my own in case something happens) and i dont want to live paycheck to paycheck like that if I dont have to. I currently don't live paycheck to paycheck because my boyfriend and I split our bills evenly right now so we have lots of extra money to save to buy things we want when we want. Financially we're doing amazingly, which is why i wanted to look into buying a house if I could end up paying the same monthly in a mortgage. But based on what this realtor thats a family friend or whatever is saying to me, I feel like im going to get the screw over and I dont want to be house poor. Ive been house poor growing up and it sucked living in a house of 8 people and you have no furniture because they live paycheck to paycheck. And I'm kind of stressed out because I don't know if I should buy a house now or wait until i have more funds saved up so I avoid being house poor and/or having to buy a really old home that needs lots of fixing up and now I feel as if I may be rushing into this and need to hold off. There arent a lot of houses being sold in the town I want to live in anyways and Im scared my friends realtor is going to be pushy bc she wants me to buy a house so she can make a quick buck. And potentially screw me over big time because she thinks I make more than I do because of my gross bi weekly check is closer to 1900 (they take a fuck ton in taxes and i have health insurance and dental through my hospital) so my take home is only 1430 and she suggested I buy a home where the mortgage is $1300-1400. Im not sure she has my best interests in mind. And im not sure I should try to buy a house right now. Please help any advice would be appreciated!! TLDR; I have 4k saved up and make $2800 a month take home pay should i wait to buy a house or do it now? [link] [comments] |
| Which loan companies WON'T sell my mortgage?? Posted: 09 Dec 2020 11:08 AM PST I've never had a mortgage, per see. I've got a HELOC, but the experience of a line of credit is obviously not the same as a mortgage. Before marriage, wifey had gone to the largest credit union around here... really because she was trying to throw some business toward a friend of hers. Now that her mortgage is sold every few months, I'm wondering if any mortgage company WON'T sell your loan. Seems very, very laborious to keep up with new "creditors" every few months, when you were just trying to help your buddy out at the local branch.... [link] [comments] |
| Posted: 09 Dec 2020 10:34 AM PST I'm in the process of selling and buying a home. 1: The first agent has great reviews, is very responsive, but simply just mails me MLS listings that I can find myself. I kind of thought this was a cookie-cutter approach. He does call me daily to see if I found anything that I like. 2: The second agent has stellar reviews, doesn't mail me any listings, and the ones that I ask about - he'll give me an opinion on whether it's a good purchase or bad purchase. So far, I asked about two homes but told me to stay away for XYZ reason. But he's not very responsive. I think it's time to choose one and I'm leaning towards the second agent but is responsiveness a red flag? I also consider the second one more consultative but wonder if I'll get poorer service because he's so busy. Finally, what's a good way to say good bye to the first agent? He's been super helpful and kind - just want to make sure I don't sting him as bad. [link] [comments] |
| Why are folks in this sub not hiring professionals to assist them with a purchase? Posted: 08 Dec 2020 10:44 AM PST Not being cheeky or rude but most of these posts are cringe worthy. Not all professionals are created equal so before you even go looking at properties please hire (interview) a realtor; a lawyer (if sans realtor) and home inspectors etc that work FOR YOU.
Removed the line about the buyers agent since some smart guys focused only on that. [link] [comments] |
| Posted: 09 Dec 2020 01:39 AM PST I started refinancing my mortgage last week without knowing my neighbor was putting their house on the market the next day. They had showings over the weekend and are now pending with an offer over $50k over asking (roughly $100k higher than what I paid for my house 6 months ago). So now I'm wondering if I would be better off waiting until the neighbor closes with the hope that it will help my house's new assessed value be high enough that I can get rid of PMI. Thanks for any advice [link] [comments] |
| FTHB Last Day to Close is 16th But Title Search Still Isn’t Done Posted: 09 Dec 2020 10:39 AM PST I've been under contract on a cash sale for a little over a month now and we've just been waiting on the title search to finish (title search started 13th of November). It's making me a little nervous because our last day to close is the 16th, which is a week from now. Is this normal? Not sure if this has any effect, but this property was sold a year ago to the family we are buying it from and the title work was done by the same company we are working with now. [link] [comments] |
| Posted: 09 Dec 2020 09:35 AM PST State of Ohio here. I'm selling a property. Our closing is set for this Friday. My buyer's spouse is in the hospital with COVID and the title office will not transact this without the spouse's signature. Does anyone have any advice on how to navigate this circumstance? The hospital isn't allowing visitors. This deal is critical that it closes Friday, as our contract states. UPDATE: POA isn't a possibility. The person in the hospital has to sign the POA doc. They might as well sign the title paperwork at that point. I do empathize. I'm on contract for on my side with another property that I can't close on without this sale. Everything is approved and waiting signatures. Movers, utilities, mail is all scheduled or active already on both sides of the transaction. Thanks everyone! [link] [comments] |
| Anyone have any personal experience with Alternative or B lenders? Posted: 09 Dec 2020 08:47 AM PST Canada here. Anyone have any personal experience with Alternative or B lenders? We have what we feel is a sizeable down payment (~$100k) but are priced out of our market where ~&400k is probably required to purchase a decent house. Problem is my partner is on mat leave and has no income that can be used on a mortgage application. With no income and student loans, having her on the mortgage application is actually decreasing the size of the loan we're qualifying for. With just me on the application (excellent credit score, gross income $50k and 0 debt) we're good for a loan of about $250k. As a means of securing more financing, I've been reading up on Alternative and B lenders. Not having experience with them, they sound a little risky. Higher interest rates, shorter terms. My understanding is that, hypothetically, we'd get a larger loan from one of these lenders for a 1 or 2 year term, pay a higher interest rate and then refinance with a different lender. What's lurking in the back of my mind is what if these lenders appraise a property differently than an A lender? Would we potentially be unable to refinance because of this and be subject to more years at a higher interest rate and other fees like renewal fees? Anything else we should be aware of? [link] [comments] |
| Philadelphia notary signing agents is the money worth it? Posted: 09 Dec 2020 08:09 AM PST So I just passed my notary public test,and waiting for my bond to come so I can get sworn in. Question I have is, is being a mobile notary and signing agent in Philadelphia and the surrounding areas worth it? Is the area oversaturated or to dense to be able to change a rate that makes enough money? I was going to take Notary 2 Pro course but want to know if it's worth the effort and money from people with actual experience in the city (preferably not just working for their employer). I really want to work for myself and was hopeful if I stayed focussed this may be an option. Thoughts? [link] [comments] |
| What is the etiquette for bouncing competing REFI offers between brokers? Posted: 08 Dec 2020 06:59 PM PST Recently received a couple offers from different brokers and they are just far enough part that I'm interested how the offers might change if the brokers see the other offers. It's just make believe numbers etc and it's not like a car. Would it be terribly rude just to send the sheet from one broker to another and ask, can you do better? [link] [comments] |
| Posted: 09 Dec 2020 10:17 AM PST Hello, I am selling my condo, I accepted an offer on October 5th, 2020 and a closing date was set for November 9th, 2020. That was delayed due to waiting on the home inspection; closing date was extended to November 16th. Home inspector did not have the report in by then and it was then extended to November 30th. November 25th comes around and I am told that everything is finally in underwriting and I am updated via my realtor that the mortgage guy said in his email "I should have a closing date in a day or two" (realtor showed me the email). So, obviously, we had to extend yet again; so we extended to December 10th. Well, guess what. The mortgage guy is "still working on it". Frustrating but I guess it happens. My issues here are; this is a condo and the HOA is due December 15th. The buyer was to pay that. Now what? Do I pay? HOA people are not helpful as all they said was " we don't care who pays, as long as it gets paid". My monthly mortgage payment is typically due the 1st of each month but my realtor told me there is a 15 day grace period and that the house would be sold by then and I shouldn't worry about the mortgage. We are probably about you go past the 15th with a closing date. What do I do about my mortgage? I cannot afford the mortgage and my current rent on the apartment I am staying in. I'm new to all this. I'm frustrated. And I just need advice. Thank you! [link] [comments] |
| Refinancing and wondering how legit CreditKarma rates are. (CO) Posted: 09 Dec 2020 08:30 AM PST I'm refinancing. My mortgage broker today is the same one that helped me get into this house 2+ years ago. He's quoting me 2.85% 30 year fixed. CreditKarma, not missing a beat, pops up and suggests lenders that are as low as 2.5%. How can I best use this information? [link] [comments] |
| First Time Home Buyer needing help Posted: 09 Dec 2020 08:21 AM PST Hello everyone! Wife and I found our dream home in New Jersey. With the current market there was 12 offers on the house and we were outbid by 16k even though we offered $30k over asking. A couple weeks later my realtor told me the other deal fell through because the septic inspection failed. The seller will be installing a whole new septic system but they wanted us to come up to $40k over asking so we agreed. Now with the home inspection: the house will require all new windows. There was condensation and water in more then half of the windows. The central air system is most likely shot. The air conditioner is from the 80s and compressor is very old. The fan would not even kick on. Some items were flagged with the boiler and hot water heater by my inspector and potentially hazardeous. The flu pipe was slated downwards. There was no chimney liner. The vent connector was 3 inches instead of 4 inches, no backflow preventer. He also noticed a oil to gas conversion and traces of copper. I asked the town to see about all permits issued to this house. There are still two open permits. One being for a 2 car garage addition and alter the breakfast room. The other being a kitchen remodel and bathroom remodel. Now comes the major issues. There is no permit on file for removing an above ground or underground oil tank. ( I don't know which they had and I have yet to do an oil tank sweep ). There is no permit for an oil to gas conversion which is illegal. There is permit for the boiler or hot water heater and things were not to code and potentially hazardous. Even the basement is finished and there is no permit on file for that. I dont understand much about all of this and the ramifications being a first time home buyer. I am doing a lot of research though. Right now I am 50/50 on proceeding with this purchase. I am getting scared off with these issues and especially after I am buying $40k extra to have this house. I feel like the best thing is to move on and avoid all this headache and possible risk. Thank you for reading and any possible advice you may offer! [link] [comments] |
| Real estate partnership LF advice Posted: 09 Dec 2020 07:59 AM PST Hi everyone, I am looking for advice on partnering with my brother to buy a few rent homes. He told me he wants to go in with me 50/50, and since I do not live in the area he will take care of all the property managing, taxes and research. He told me we will split rent 67.5 for him and 32.5 for me but property value will still be 50/50. Is this typical? Any advice for a new potential realty investor? [link] [comments] |
| Capital gains on rental property questions Posted: 09 Dec 2020 06:43 AM PST Wife has been renting out her condo since 2012. In process of selling it. Want to make sure I'm thinking about the capital gains taxes properly. She paid $199,000 for it. Selling it for $187,200 (approx $174,000 net proceeds after commissions and taxes). Have depreciated approx $52,000 over the last 8 years. So, 174,000 -199,000 + 52,000 = $27,000 gains? Our combined income is about $225,000 so would we owe 15% of that = approx $4000. Does that all sound right? We're not closing til January 15 2021. I'd love to resolve all of this when I file taxes in early 2021. But I'm assuming I need to just hold aside $4000 til early 2022 when I file 2021 taxes because the transaction happened in 2021? [link] [comments] |
| Flippers, What's the most net profit you've made in one flip and how long did it take you? Posted: 08 Dec 2020 03:59 PM PST |
| How much to offer/target price to buy: owner/agent flip with note about to come due Posted: 09 Dec 2020 05:23 AM PST Hi all, I'm in the dc area (northern va) and looking to buy a home. It's very much a sellers market but there's a house that's near me that has been on the market for 6mo because it was being worked on and it's a kind of odd floor plan contemporary but it's huge and 5br 4bath with a lot of updates. Listed by an owner/agent, I'm happy to come in preapproved conventional without a realtor or so without that % and without a home sales contingency. He bought it at foreclosure/auction a year ago for 520k. Probably put about 30k-50k into it. Originally listed for 750k, now listed at 679. Owner/agent said he needs to move fast with a note coming due (I'm assuming a balloon). What would you offer to be aggressive but not super lowball? What do you think my target price number should be? [link] [comments] |
| We weren’t on schedule & I just found out we are closing NEXT week!!! Posted: 09 Dec 2020 05:06 AM PST And I am not prepared. I have an entire house to pack. My lender said there was no way we would make the original late December closing date. Things were iffy, delayed, the sellers were getting antsy and I didn't want to get my hopes up so I wanted to wait to start packing once I received some more stable news. Lender called yesterday to inform me it was time to get the gifting funds and since things were moving so swiftly since the appraisal report was received, we are definitely on target for the original closing date, but the goal is sooner aka late next week 😳. Now I don't even know where to begin with packing. But I needed to get packed quickly. My real estate agent told me from the beginning we would make the closing date. She was extremely confident about it. But my lender said "no way". In the end, she was right. Lol. What tips do you have for packing up a house and prepping it for the market without getting overwhelmed? So far I have some boxes and I know I'll need tape- I don't even know if I need clear packaging tape or that brown tape so my boxes don't fall apart 😫 [link] [comments] |
| Posted: 09 Dec 2020 12:14 AM PST My income- $30888 year. Pay every 2 weeks Credit score 639 Apartment- studio $700/1 bed $725 I haven't went to go see it yet. Except for online Move in date is 12/31 My only problem is it's in a city I desperately wanted to get out of and just left last year. I know it like the back of my hand but 🥴 that city depresses me. Option 2. I contacted these 3 dudes on reddit that's looking for a 4th roommate they all seem cool. 21 to 23 college students. They don't have a place yet but was looking for a house possibly. We'd all split the bills i think $400 each for rent or whatever you pay for a house. They do said they'd let me know if they'll pick me by Christmas. [link] [comments] |
| Some questions about getting a real estate license in Washington Posted: 08 Dec 2020 11:28 PM PST My husband's studying for his real estate license so we can start flipping or investing in properties here in a few years, we both have full time jobs and have no intentions of becoming buyers or listing agents. The requirements to obtain a license seem pretty cut & dry. But I'm confused why it says you must take a "broker's exam"? It's much different from what I'm familiar with in California. Can someone explain this to me? Also, in order to perform our own transactions after obtaining a license, will he have to work for an agency?? Sorry if these are really dumb questions. TYIA! [link] [comments] |
| Should I help my parents purchase a home? Posted: 08 Dec 2020 06:21 PM PST Hello everyone, My parents are looking to purchase a home, but don't have a established credit. They never got into building their credits score and never bought a house, mind you they are recent immigrants. I recently graduated college and I turned 23 last month and my credit score is in great shape. I have about $6,000 in student loans and $5,000 car loan. I make about 50k year. plus bounces I'm kinda scared because I don't want to put my self into more debt. My long term goal is that I want to get into real estate and buy rental properties. They want me to take out a loan in my name and just have them pay me the mortgage every month. I currently live with them, but I don't see my self living with them within the next year. I would have them rent, but they also have a small family. what issues would I run into and how might this affect in the future? [link] [comments] |
| Advice for purchasing a property with my brother Posted: 08 Dec 2020 04:17 PM PST Right off the bat I am looking for how to do this not folks yelling at me that buying property with family is a disaster and never do it. Having said that, I am 37 and am a farmer, I have been working for other people for 10 years and I want to start my own farm. I live in a smallish state and my parents and sister and her family are all pretty close by. My brother lives out of state but wants to return. With the money I have saved and help from my parents I could pull it off but he is planning to come back anyway and has expressed interest in farming. Since this would be primarily my business and my hopefully forever home but maybe not so for him what would be the best way to approach something like this? I don't have a spouse but hopefully will some day, ideally would have waited to do this for then but I don't want to wait any more. The options I have thought of ---
I have read all of the horror stories about family and real estate and business etc. but I really believe we would be a great team on this and I love the idea of having a partner in the business. [link] [comments] |
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