Real Estate: Encroachment - neighbor built “pop-back” extension onto my property! |
- Encroachment - neighbor built “pop-back” extension onto my property!
- Refund (Or Not) of Apartment Deposit
- Gorgeous property, sub-par location
- Should I refinance, pull money out to be able to secure a down payment in the near future for a rental property ?
- Should I pay more than the minimum (interest only) on lot loan?
- Beach Balcony or Extra Sq Footage
- Will I be homeless?
- Selling a home in Divorce
- Listing & Relo Company Transactions
- Family member is late moving out of house, what options do they have? (Colorado)
- First time home buyer
- Refinance 2nd Time within a year? (Philadelphia,PA)
- Renting out our primary residence as a furnished unit while traveling
- How much income do i need to get a loan?
- Effects of eviction moratorium expiring
- How to get started in rental properties?
- Selling a vacant lot/commission
- Should I pull permits?
- Please help! The sole owner of a property passed away. The bank says I can’t sell the property. We are the executor and trustee on the trust. Is there anyway to sell the property? What option do I have? (CA)
- How can the socal market continue to climb in price?
- Value of additional living space versus low-function garage?
- Do you have clients from organic traffic, not by referral?
- Ideas for a "Hook" phrase for a Real Estate law firm specializing in residential buy/sell and first time home buyers
- FHA Limit increase while in the middle of contract
| Encroachment - neighbor built “pop-back” extension onto my property! Posted: 27 Dec 2020 08:20 AM PST So I've recently become aware that my immediate neighbor built his rowhouse "pop-back" extension two inches over our property line, lengthwise (see photos - his house is the red brick one on the right, mine's the white one on the left). I bought my house (first time home buyer) 4 years ago, purchased, newly remodeled, and flipped by the seller earlier that same year. My neighbor has been remodeling his house for 5+ years, possibly way longer. He's never actually lived there (the house has been uninhabited this whole time). He built the pop-back extension sometime before I bought my house, most likely before my seller bought the house. Point is this encroachment was previously unknown to me, and possibly to my seller, and possibly even to my neighbor until this week. It was not disclosed to me during the sale 4 years ago, and I only found out because I talked to some surveyors from the city who've been snooping around back there intermittently this month, and I did manage to speak with my neighbor who acknowledged the problem yesterday - though he played dumb about it. So, question is, what do I do? Is my neighbor in trouble? Is he (or the city) required to notify me officially? Knock down the encroaching extension? Settle with me financially? Do we go to court? Did I get duped by my seller four years back? Unless this is resolved does this affect my property value and make selling my property more difficult in the future? Thanks! [link] [comments] |
| Refund (Or Not) of Apartment Deposit Posted: 27 Dec 2020 01:54 AM PST [Colorado] I do not expect to receive my $500 deposit back after leaving an apartment I was in about 60 days ago. It was not an eviction or anything like that, nor was there any damage at all done. I was very ill at the time and was unable to clean the apartment (although it was not very dirty) and I also had to leave some items (nice things, actually), behind because I could not fit them in my last load of stuff in my SUV. I was unable to afford any kind of help. Plus, unfortunately, the property manager was just simply a nasty person who would make it a point to find things wrong in order to not return my deposit. My question is: Even if I do not receive any or all of my deposit back (which at this point, I don't care), shouldn't I at least be mailed some sort of statement explaining what the deductions were from the $500 within Colorado's mandated 60-day refund of deposit law? I do not have the lease with me as I am temporarily staying in a hotel and my lease is in a box way in the back of my storage unit. [link] [comments] |
| Gorgeous property, sub-par location Posted: 27 Dec 2020 07:53 AM PST Need some perspective, house is gorgeously remodeled with a few things we'd like to change but all in all it's pretty good: elem school top notch, nice community, spacious, nice outside area. But the townhome is next to a busy street that turns into a freeway entrance and 1/4 mile away. The streets not visible at all because the house elevation is below the streets and there's ~8ft wall. I wasn't able to hear road noise downstairs but up in the bedrooms with windows shut I heard it a bit. If your outside you can hear it. It's not that bad and wife is all in but I'm concerned about buying something we've been saving for a long tim in SoCal at a really high point in the market in a location that's not desirable with respect to the community. Advice I've gotten so far is "eventually you won't notice it". [link] [comments] |
| Posted: 27 Dec 2020 09:33 AM PST I have a 200k, 15 year fixed mortgage (3.125% interest), about 3.5 years into it, 160k left on the mortgage (primary residence). My home value is about 325k. I was debating on refinancing back to a 200k ish mortgage to be able to pull out around 40k in equity, to be able to put a down-payment on a future rental property. I dont want to run in to the case where I find a great deal but can't close on a property. I dont actually have any properties in mind right now. I had issues acquiring a property recently . The lender initially required 15% down, which I was able to afford. 3 days before closing , the lender realized the HOA does not have something called fidelity insurance , so they required 30% down, which I didn't have . I dont want to run into a similar situation . [link] [comments] |
| Should I pay more than the minimum (interest only) on lot loan? Posted: 27 Dec 2020 05:41 AM PST I have a lot loan at 4% and I was wondering if there's any downside to paying more than the minimum amount? We plan on using the same lender for the construction loan and permanent (mortgage) loan. My cash is sitting in a "high" interest (0.50%) savings account. [link] [comments] |
| Beach Balcony or Extra Sq Footage Posted: 27 Dec 2020 07:28 AM PST Hey! A quick (opinionated) question...I am in the process of buying a 400 sq ft one bedroom top floor corner unit beach condo with bay view. However, almost every unit, but my private covered balcony (& 2 other balconies - none of which are next to mine) with fan (100 sq ft) was enclosed into an additional 100 sq ft of living space during renovation. It was actually more cost effective for the HOA to enclose them to additional square footage (condo owners were hoping to bring more value to living space). (1) Which would you had preferred (balcony or 100 extra sq ft and only windows to view)? (2) Which would you rather rent... Balcony or extra living room space? To me it was an easy choice, private covered balcony and I can always eat outside during the summer with a nice breeze or fan on. Just curious manly from value of property to rentability. [link] [comments] |
| Posted: 26 Dec 2020 09:49 PM PST Hey there, I was just wondering if anyone has applied for a rental with at least 1 year of a bad rental history such a payments made a couple days late or couple weeks max? Prior to this year I never had a bad history so I'm really worried I could end up homeless. I'm in Australia, NSW [link] [comments] |
| Posted: 27 Dec 2020 10:02 AM PST My wife (28f) and I (29m) are looking at getting a divorce. I want things to be as civil and amicable as possible, and I'm considering letting her have the home. We bought the home 5 years ago. At the time, mine was the primary source of income and she was a "private contractor" with varying income, so we ended up putting the title and financing in just my name. If we do end up getting divorced, she will need to get a job. My question here is if it's possible for me to sell the home to my wife, and split the profit with her (in an equitable way) so that she can use the money as a down payment on the home and I have money that I can use towards a new home? Or are we able to do some sort of cash out refinance and transfer the financing over to her and I would receive the cash out? Let me know if anyone has had an experience like this. [link] [comments] |
| Listing & Relo Company Transactions Posted: 27 Dec 2020 09:49 AM PST I have a person close to me that is supposed to use Aires Relo to list her house and sell, because she took a job a new job opportunity. I have no experience with this. Can she list with me instead of using their sales process? Anyone have any experience with these relo companies and their sales process? If she uses them, she can make a recommendation on an agent, but that doesn't seem like it'll win me the business... I'd love to talk to someone that has experience dealing with these types of transaction [link] [comments] |
| Family member is late moving out of house, what options do they have? (Colorado) Posted: 27 Dec 2020 06:03 AM PST Family member sold their house to an investor/remodeler, and was supposed to be moved out by 12/24. That did not happen, as they have quite a bit stuff. Realtor told them that taking a few days over the weekend would be fine, as the remodeling crew would likely not be there until Monday. The current problem is that the family member is still not likely to be moved out by Monday. Do the purchasers have any legal standing to forcibly remove them/have the police get involved? The family member is actively trying to move out, but just needs more time. Family member told me that their contract has something along the lines of "$200 per day after the out date for extended stay." To me, this sounds like a simple solution, as the family member can just pay the cost per day until they are moved out. cross posted from r/AskALawyer [link] [comments] |
| Posted: 26 Dec 2020 02:53 PM PST I started looking about a month ago with a realtor a friend recommended because they were laid back. One house I had to walk away from after inspection and second house my full list offer was beat by cash. Point is I am ready to buy 😂. Last week something came up and they have no ETA on when they will be back in town. No further explanation given. Said that if I find something to send them a link and they would look at pricing/comps and handle the contract...but would have some other agent from their office let me into the house. I've done that once so far. It was awkward. It was just someone there opening the door for me and asking if I wanted to make an offer when I headed for the door. Would you stay with this MIA realtor? He handled the first house negotiations really well and I'm sure this is something out of their control so I'm trying to be understanding. I work in mortgage but it's my first house and it's just me buying it..so now I'm feeling real alone haha. [link] [comments] |
| Refinance 2nd Time within a year? (Philadelphia,PA) Posted: 27 Dec 2020 09:29 AM PST I started the refi process right before COVID officially entered the conversation; cashing out and closing Mid-April 2020: Original Loan: 30 Year - $227k at 4.375 originated August 2014 (first time home buyer program 7.5% down on 240k Purchase Price) New Loan: 15 Year - $224k at 2.875 closed April 2020 - pulled out ~$15k cash as well - home appraised at $280k - $1873 Monthly Rate reductions since have me contemplating an additional ReFi - do the below scenarios seem worth it: No cash out: lower rate further = monthly payment reduction ~$150 15 Year - $210,000 at 2.25% = $1700 monthly Cash out: essentially take out the past 7 months equity + hopefully catch any updates in market increases $235,000 at 2.375% = $1900 monthly - $25,000 cash out All thoughts are appreciated! M32 $80K Annual Salary, $12K Bonus [link] [comments] |
| Renting out our primary residence as a furnished unit while traveling Posted: 26 Dec 2020 08:09 PM PST My husband and I are working on building out a camper van and will be doing some extended travel (2-4 months at a time) starting in summer 2021, likely to be repeated periodically if the first summer goes well. We plan to rent out our house while traveling and I'd love to get advice on any easy to overlook steps or pitfalls we should take while doing this. Our municipality strictly forbids short term (<30 day) rentals. We'd prefer people looking for mid-term housing to minimize turnover anyways and may target traveling nurses or other professionals by advertising on furnishedfinder and getting added to our local hospital network's housing list. Any other places we should look into? Is it worth advertising on Airbnb or VRBO for a medium term rental? We are in a medium sized city in a neighborhood with close proximity to both local attractions and one of the main hospitals. Do we need landlord insurance for a situation like this? The home (minus the detached garage which will be locked and used to store some of our belongings) will be rented out, but it is still a primary residence that we will return to after our travels. We do have a home gym with free weights. Should we move it into storage (extra work but can be done), or add a liability waiver to our rental agreement? Would the latter actually provide reasonable protection in the event that a tenant hurt themselves using the equipment? We will manage long distance as much as possible, but do have a friend (a landlord themselves) who is willing to be an emergency backup contact in case of issues with the property if we're out of reach, and can do walkthroughs to check for damage after a tenant vacates, for a fee. We have a smart lock that can generate temporary entry codes for tenants and will contract a cleaning service ahead of time if there is to be any turnover while we're away. We'll also hire a lawn service for the summer. Are there any other important contacts or services we should have arranged in advance? Any advice is appreciated! We have one local long term rental house and have rented individual rooms in the house to tenants, but since this is a different situation I want to make sure we're not overlooking anything important. [link] [comments] |
| How much income do i need to get a loan? Posted: 27 Dec 2020 08:34 AM PST self employed. i hear they look at your last two years income.... 2019 income: $19,000 2020 income: $21,000 debt: $0 monthly bills: $80 (just phone & car insurnace -- live with parents ) ideal house size = $150,000 to 200,000 range Just opened my first credit card, so i should have a decent credit score in about 6 month. Already have more than enough saved for 20% downpayment. Question #1: I have about $30,000 in unrealized capital gains that i can sell in the next 3 days before the end of the year. Meaning i can boost my 2020 income up to $51,000 total if needed. Do i need to boost my income to get approval for a mortgage? if so how much? does this matter? Question #2: im just concerned that my annual income may be too low for approval?? any idea how much income i would need to qualify for a mortgage this size? [link] [comments] |
| Effects of eviction moratorium expiring Posted: 27 Dec 2020 07:24 AM PST The housing market is hot right now especially where I am located in SoCal. I have been trying to find a place to buy but homes are going for way above ask and not staying on the market for long. All the real estate predictions for 2021 are saying that housing will continue to rise into next year but with the eviction moratorium looming will that have an impact on the housing market in 2021? Or will there not be enough homes from the eviction moratorium ending to have a big enough ripple effect? Thoughts? Opinions? Advice? [link] [comments] |
| How to get started in rental properties? Posted: 27 Dec 2020 07:16 AM PST I'm 24 right now and starting to get interested in rental properties so I can have some passive income. I don't really have that much knowledge on the field so some guidance would be appreciated. What is the best way to get started? My current understanding is that I can save up enough money by the time I turn 30, then buy a rental property in cash and then rent it out so I have some passive income on the side. Is that how it generally works? Please I'm very new to this and I am very eager to learn. Sorry if this post isn't following the subs etiquette but if you guys can shed some light, that'd be great. Thank you :D [link] [comments] |
| Selling a vacant lot/commission Posted: 27 Dec 2020 06:54 AM PST I need to sell a residential lot in Georgia. I live out of state. I'm willing to use an agent, but rejected the first couple of agents I contacted because they insisted on ridiculous commission percentages (I consider 8 or 10 percent pretty ridiculous). How can I find an agent I can work with? Is there a different expectation for commission on lot sales than for existing homes? Lot sales don't involve a lot of the work done for home sales: no staging, no showing the home, far fewer things that can go wrong, etc. Is there some other approach I should take to selling? [link] [comments] |
| Posted: 27 Dec 2020 05:59 AM PST I recently bought a house that was renovated 2 owners ago and which I plan to sell in 5 years. I suspect work done in the garage to enclose it was unpermitted. I'd like to know if I need to bring it up to code, but also if I pull permits and learn it was unpermitted, I'd have to disclose when selling which could hurt me. If the work is unpermitted, could I be denied future insurance claims? Is ignorance bliss? [link] [comments] |
| Posted: 26 Dec 2020 12:40 PM PST What are all the options? Is there anyway I can change the title? The bank says the only way we can sell the property is after the mortgage is paid off. Help is appreciated. [link] [comments] |
| How can the socal market continue to climb in price? Posted: 26 Dec 2020 11:03 AM PST I just don't understand the housing market in socal. How can so many people afford 900k+ houses? We've been looking in the Huntington Beach area. And for a house you need 750-800k minimum to even start to think about a house. Are there that many doctors and lawyers out there that can all afford houses in this price? My wife and I do OK but we are just not in the range of these prices. 500k is our max. I just don't understand how so many people can afford these houses now and how these prices can continue to go up in the future? It seems at some point this will all become completely unaffordable to 99% of people? Or am I just way under estimating how many people are making 450+ a year combined income? [link] [comments] |
| Value of additional living space versus low-function garage? Posted: 26 Dec 2020 09:12 PM PST I've always wished the garage in my small one bedroom house could be used as an office or guest room, or in these times of covid, as a way to get away from my spouse lol. The house is only 800 square feet and is in a rapidly appreciating Midwest city (Madison, WI). The garage is not currently suited for vehicle storage - I won't go into why (ask if you're curious), but all I use it for is storing the bikes and outdoor tools. It would cost almost the same to make it practical to park inside as it would to convert the space into an extension of the living area, effectively adding another 200 square feet to the house. For my own needs, the biggest downside is a loss of storage for stuff like bikes and other outdoor equipment, but I could easily just finish the back 3/4 of the garage and keep the front accessible from the driveway through a bi-fold style garage door, effectively creating a 12 foot wide and 5 foot deep storage unit. I'll definitely talk with a realtor and maybe an appraiser, but I thought I'd see what folks here thought about this first. [link] [comments] |
| Do you have clients from organic traffic, not by referral? Posted: 26 Dec 2020 11:56 PM PST I am wondering how much percent of your clients is organic, and how much is from referral? How do you build your reputation over the internet? [link] [comments] |
| Posted: 27 Dec 2020 08:51 AM PST Collecting ideas for a potential "hook" phrase to include in law firm marketing. The firm focuses on residential properties, primarily targeting young, first time home buyers. So a lot of my ideas already have to deal with concepts of trustworthiness, knowledgeable, experienced, sincerity, honesty, speed. Most of what comes to mind though seems overly cliche, looking for some fresh ideas on what would catch YOUR attention. [link] [comments] |
| FHA Limit increase while in the middle of contract Posted: 26 Dec 2020 07:07 PM PST I am in the middle of buying a home and currently in my county the FHA limit is ~331k. Starting on Jan 1st, it will be 356k. I am closing on February 12th, is it possible for me to get the new loan limit so I don't have to bring as much money to the table? Thanks [link] [comments] |
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