Real Estate: Hiding from Septic Inspection? |
- Hiding from Septic Inspection?
- Are distant closing dates ok?
- Boston Condo
- Anything Special to Consider when buying a property spanning 2 towns?
- Lennar and Ryan homes
- People who rent out warehouses, what's your cap rate?
- To stage or not to stage?
- SoCal home buying (VA Loan)
- [AZ] I want to help my parents, but have an odd feeling about "gifting."
- Making more from stock trading than day job and planning to buy a home next year. Will this be a problem?
- Who else could we talk to when police and management aren't doing anything about illegal drugs in our building?
- Inspection on an old house: what to expect?
- What options can you ask for besides asking the sellers to make the repairs outright?
- Sewer line blockage found on inspection
- Condo prices in Seattle have plummeted since COVID... is this permanent?
- Should I ask for a lower rent or will it turn owner off?
- Questions About First-Time Home Buyer Assistance Program Specific to Illinois
- Vindictive co-owner wants our house to foreclose so that I lose money.
- Real Estate Gurus - How did you become what you became?
- Is it common to ask for sellers assist right now?
- House in escrow has a pool with issues...
- [question] First time buyer: Should I avoid buying an condo with “undivided co-ownership”
- Father wants all my personal info to add as a sub-beneficiary so he can buy a house in Mexico
| Hiding from Septic Inspection? Posted: 05 Dec 2020 03:20 AM PST Are there red flags here? My situation: I am about to go under contract on a home with a Septic system and have had to do some negotiating in order to get the seller to agree to a Septic inspection. The septic system was last pumped just before the seller left the home which has sat empty to this point. In other words, the tank is currently empty. When calling to line up an inspection, I was warned by the septic company that pumping the tank just before a home sale could be an effort to hide something—the tank should have liquid for a proper inspection. In our contract, the seller also wants to prohibit flooding the tank as part of the inspection. This seems strange to me as it is such a specific request. Does this sound like the seller is hiding something? [link] [comments] |
| Posted: 05 Dec 2020 11:06 AM PST My wife and I will need to move to a new city because she will start a new job on July 1st, 2021. We will need to sell our current house but I'm curious if it is kosher to place the home for sale in say, March? With a clause that closing cannot occur until June? Is this something that can be done without scaring off potential buyers? I'd be fine with listing it closer to summer but would always like to take care of things further ahead of time as we are expecting a newborn in late Feb. Any advice would be much appreciated. [link] [comments] |
| Posted: 05 Dec 2020 05:01 AM PST Has the Boston condo market been hit by Covid? Prices possibly going down due to the rush to buy single family homes? I am a first time condo buyer and would appreciate any recommendations of pockets to look in. Maybe there is a deal to be had... [link] [comments] |
| Anything Special to Consider when buying a property spanning 2 towns? Posted: 05 Dec 2020 12:27 AM PST |
| Posted: 05 Dec 2020 08:34 AM PST Can people tell me there experiences good and bad with both developers? Better to go with an older home? Resell value? [link] [comments] |
| People who rent out warehouses, what's your cap rate? Posted: 04 Dec 2020 06:15 PM PST In my area, A quality 3,500 to 5,000 sq. ft warehouse with good location only costs like 200k to build, including land, and are rented out at like minimum 7 dollars a square foot, that's like a 15 percent cap rate... seems too good to be true [link] [comments] |
| Posted: 05 Dec 2020 07:39 AM PST We are currently in the process of preparing our home for sale. Spoke with a realtor that I have known for years and worked with them to sell another property and they did a fabulous job. During our initial consult, the realtor advised us to make some changes because they were dated, which we agreed. We asked for advise on colors to choose for interior paint and what we should do for the fireplace surround since the rock is going to be removed and the realtor offered their partner to drop by to give us advice on color choices. The interior decorator that came by brought their business partner and the two of them spent 2 hours running around our house with paint chips and picking apart lighting fixtures, kitchen tile, changed the color of the flooring, fireplace insert (they want us to have removed). We felt completely bombarded by them. We live in an expensive part of the country and homes are in our area are in the $1M to 1.5M range for a 3 bed/2 bath 1400 sq ft home, and are generally in contract in less than 30 days. The additional interior designer recommendations are going to cost us time and an additional few thousand dollars to change, we have already sunk $35k into fixing up the garden, painting inside and out, and new flooring throughout. Will the changes by the interior designer make a substantial impact on the sale price/time to sell or should we just choose neutral tones throughout? Does staging a home really make a difference in the ability to sell? [link] [comments] |
| Posted: 05 Dec 2020 10:54 AM PST Has anyone used a VA loan for a SFH in SoCal recently? Just starting the process and it looks like homes are going fast. I'm looking in the Costa Mesa/HB area in the 750-850k range. [link] [comments] |
| [AZ] I want to help my parents, but have an odd feeling about "gifting." Posted: 05 Dec 2020 10:50 AM PST I'm in a bit of a pickle. My parents (in their late 60's) are finally buying their first home in AZ (retiring from the Bay Area). I'm incredibly proud of them -- they were homeless a decade ago. The problem is that they kept cash out of their bank account thinking they could use it for their cash-to-close, and the mortgage company clearly doesn't want to accept it. They approached me asking if they could give me the $7k cash, and gift it to them (by wiring it to their mortgage company). I've got a serious tax bill and my wife and I are looking to buy a home for ourselves in the next 12 months -- the last thing I want are any financial red flags. I told my parents I wasn't comfortable doing so for the reasons above, and they've apparently discussed this with the mortgage company, who've now lowered the amount is be required to wire to $1k. I've never purchased a home but I've done some research and, while there seems to not be any risk in "gifting" them their own funds, it seems awfully close to lending fraud. Am I crazy to find this fishy? From my perspective, they should be able to easily get a cashier check for $1k, send that to the mortgage company (they're a few weeks out from closing), and not have to involve me. Help. I trust my parents; I don't trust what they're being told. [link] [comments] |
| Posted: 05 Dec 2020 10:29 AM PST So I currently make $50k at my day job, and this year I have a realized gain of $70k from the stock market. When I file my 2020 taxes and I apply for a mortgage and they see my tax return, will it cause them concern that the majority of my income this year came from short term capital gains? Also when they call my employer to verify my income will they ask my employer about my huge capital gains and how it relates to my day job? I was fortunate enough to work from home this year so I was able to day trade stocks, but I don't want my employer to know that cause he might think I was slacking. [link] [comments] |
| Posted: 05 Dec 2020 09:57 AM PST We live in a large apt building around 250 units. It's non smoking building and It's illegal to smoke weed in our state. However, we keep smelling the neighbors smoking it as well as other hard drugs. We've contacted the police a few times, but they wouldn't knock on the tenant's door, since light was off, and we mostly smell it at night. Management keeps telling us, please inform us of times and dates you smell it, for months now, we have but nothing has been done about it. We moved here a year ago and it was quite expensive for us, besides we had no idea that would be the case. It's a nice brand new building and rent is high. We also didn't know that they accepted vouchers and had section 8 residents in the building. Who should we talk to, to get this problem solved? [link] [comments] |
| Inspection on an old house: what to expect? Posted: 05 Dec 2020 09:53 AM PST What the title says. A 1945 house that has had basically zero work done beyond updating heating system and a few cosmetic upgrades (floors. Maybe windows, but still old)? What can I anticipate from an inspection? I know it's old and not perfect in anyway, but I would be turned off by leakage, pests, foundation problems, mold, or the entire place needing rewiring (is that likely?) Just curious for any feedback!! [link] [comments] |
| What options can you ask for besides asking the sellers to make the repairs outright? Posted: 05 Dec 2020 09:44 AM PST Under contract, a good number of things came up on inspection. It's an estate situation and the seller is willing to try and come to agreement on repairs but there are a few challenges. One is they live across the country and don't want to deal with the actual execution of the repairs. The other is they don't have up front cash on hand to pay for some of the repairs. They suggested dropping the purchase price. I'm not against that, but most of my cash on hand is spoken for in the down payment. They are already paying all closing costs. Is there such a thing as them agreeing to pay for a repair out of the money they get after closing? What other options might there be? [link] [comments] |
| Sewer line blockage found on inspection Posted: 05 Dec 2020 09:29 AM PST Our inspector found a blockage in the sewer main during inspection, and wasn't able to scope the entirety of the line. Our objection deadline is in another week, so we have some time. My question is this: should we pay for the roto/scope out of pocket now? So we have immediate access to the video, and can make a decision prior to the objection date? Or should we ask the seller to pay for the roto/scope on the objection itself. If they decline... we still want the house, but we must get the scope complete. My hold up is this is a cash offer, and we are closing on the 17th. Seller is selling "as-is" and has already came down 40k from original asking. We are confident in overlooking the other issues, but we don't feel comfortable proceeding without seeing the entire line. Thoughts? [link] [comments] |
| Condo prices in Seattle have plummeted since COVID... is this permanent? Posted: 04 Dec 2020 02:53 PM PST I see units selling for 100k less than they would normally sell for. I know rent has dropped 20% in Seattle too. Do you all think prices will rebound once people have to go back to work? [link] [comments] |
| Should I ask for a lower rent or will it turn owner off? Posted: 05 Dec 2020 08:59 AM PST Philadelphia. There's a one bedroom apartment that's PERFECT for me and my partner. Just saw it in person and the current tenant kept emphasizing how it's a renter's marker and no one else has come to see it yet. Her lease ends Dec 31st and we could move in early Jan. The owner has agreed to do a 9 month lease with us (she was actually happy to do it because apparently having leases starting in Jan is difficult). That was difficult to find with other places. I'm definitely going to submit an app but was thinking of talking with the owner first to see if she could come down on rent a little. Is this going to turn her off or it's low risk? [link] [comments] |
| Questions About First-Time Home Buyer Assistance Program Specific to Illinois Posted: 05 Dec 2020 07:15 AM PST Hey there. Looking at first-time homebuyer assistance programs in my state (Illinois) and there's a new program called SmartBuy that forgives 15% of student loans, but does so by opening a 2nd mortgage. I'm going to take this info to my lender (in pre-approval process now) but am very curious as to what sorts of things I should know about this program before talking to him? Here's a link to info on the program. And here seem to be the top-level takeaways about the student loan forgiveness part:
Is it bad? Good? Too good to be true (that's my gut reaction, but I don't know enough about mortgages to understand some of the language)? [link] [comments] |
| Vindictive co-owner wants our house to foreclose so that I lose money. Posted: 04 Dec 2020 10:27 PM PST My co-owner has gone mad and refuses to talk to me. Has hired an attorney to keep me away from them. Won't answer my calls. We are both on the deed. The house is worth $1.2million. If we don't sell, the bank will foreclose it soon as neither of us are agreeing to pay the mortgage either. My co-owner never paid a cent anyway. My co-owner is taking the "kamikaze approach" and staying in a standoff with me until the bank moves for us. We will lose hundreds of thousands of dollars. On top of this, the co-owner has been trying trying to pressure me into signing "power of attorney" papers, to which the reason is unknown. What do I do besides hire a lawyer and apply pressure back on them? I don't want to force a sale through court because that will basically be a foreclosure in terms of profit. [link] [comments] |
| Real Estate Gurus - How did you become what you became? Posted: 04 Dec 2020 05:36 PM PST tl;dr - I'm looking to learn anything and everything related to real estate. My long term goal is to flip properties, rent out to tenants, sniff out bargains, and provide for my future family. I've become aware of personal finance books (related to real estate) like "Rental Property Investing" by Brandon Turner, which is a great start, but if I'm wanting the knowledge of real estate to run through my veins, would you say even paying a couple hundred dollars to take real estate agent classes would be worth it, just for fun? Are there any additional books you would recommend? Thank you so much for the help - I really appreciate it! [link] [comments] |
| Is it common to ask for sellers assist right now? Posted: 05 Dec 2020 06:30 AM PST So far, we've put in offers for two houses and both times the seller went with someone else, no bidding war or anything. We did not ask for sellers assist on either offer. We offered asking price with an escalation clause. I'm wondering if we should just offer higher and ask for sellers assist? It's our first home so I don't want to miss out if we can get assistance, but I understand how ridiculous the market is. Is it common to even ask for sellers assist right now or no? [link] [comments] |
| House in escrow has a pool with issues... Posted: 04 Dec 2020 08:47 PM PST First house I've been able to get under contract on, inspection period is ending soon. Turns out the pool has multiple cracks, broken deck/coping and old equipment. Doing a leak test tomorrow. Pool contractor said I could bandaid fix with no warranty for 25k, but recommended a removal and rebuild at 120k :( After this whole journey finally getting under contract - It would be so painful to walk away. Apparently I can't even negotiate that much without breaking my loan :/ Any advice? Do I gamble on the band-Aid fix? Down the road I don't know if I could ever justify dropping 120k to rebuild the pool... Edit: house is in LA [link] [comments] |
| [question] First time buyer: Should I avoid buying an condo with “undivided co-ownership” Posted: 05 Dec 2020 06:28 AM PST I'm located in Montreal, Canada. Im looking to buy a home in the near future. I'm located in an older neighbourhood. Some of the oldest and nicest properties (condos) are listed as Undivided. On the surface that's great because a. The property is usually less expensive, and b. I wouldn't need to pay condo fees. But what's the catch? What are some anecdotal stories you can share concerning why I should or should not consider buying an undivided property? Is it always a bad idea? Thank you [link] [comments] |
| Father wants all my personal info to add as a sub-beneficiary so he can buy a house in Mexico Posted: 04 Dec 2020 05:24 PM PST To start, I am in the usa and my father asked for my personal info so that I would be a sub beneficiary as part of a trust. I guess he needs this to purchase a house he's looking at. How he describes it, "they need me to have someone as a beneficiary in case something happens to me" He sent a pic of a form that ask for ss#, copy of driver's license, passport, address... The whole 9 yards. The thing is, he's not exactly great with the admin/mgmt of... Anything. So I don't really want to send all my info to some random Mexican real estate agent he found So, what does it really mean to be a sub-beneficiary? Why would someone need this instead of just updating thier will? Would Mexico require this if you're a US resident to purchase a house? [link] [comments] |
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