Real Estate: Title company forgot buyers agent commission |
- Title company forgot buyers agent commission
- Do houses show better while empty or furnished?
- We closed yesterday at 2.85%! 4 months after having an accepted offer.
- Is anyone doing 203k loans during coronatimes?
- Seller attempting to back out after purchase agreement set
- Aspiring Real Estate Agent in Monmouth County NJ -- advice on schools?
- What does T3 effective rent less that T12 mean?
- Final Closing Disclosure
- California Real Estate scheduled exams booking up extremely quick.
- Using Private Lenders
- Estimating cost of an addition on a house before offering? (NJ)
- Bonus for seller's agents
- Foreclosures
- Books to read about Real Estate?
- Selling home as is insurance claim
- Short short term rental
- How to price in a wet basement?
- Realtor commission tax question
- [MA] Developer buying property, gutting, immediately relisting & pushing Contract for Deed?
- Realtors of Reddit: I want to send a gift basket to the listing Agent before they decide on an offer. How will this be perceived?
- What do you think of this top 10 housing markets list of 2021?
- Real Estate License in America
- What is the best way to sell to a family member shortly after purchase? (NJ)
- Buyer pays realtor fee?
| Title company forgot buyers agent commission Posted: 11 Dec 2020 07:12 AM PST I just sold a house for sale by owner and after closing I was surprised to not see any buyers commission deducted from the payout I received. The buyers agent said I could just pay him directly. Is it common for a title company to forget this from the payout? Should I be paying them directly the commission to then pay the agent? I just don't want to mess up something that will affect my taxes. Thanks! [link] [comments] |
| Do houses show better while empty or furnished? Posted: 11 Dec 2020 05:42 AM PST I know this is a question for whichever agent I ultimately hire to list my house, but since I'm not ready for that yet, I figured I'd ask /r/RealEstate... I'm 80% sure that come springtime, I'm going to move into an apartment and put my house on the market (6 month lease just in case the place doesn't sell, or possibly month-to-month if I can find one). Between working from home fulltime and having multiple pets, it just doesn't seem practical trying to sell it while occupied. Along with the major downsizing of going from a 4-bedroom house to a 1-2 bed apartment, I'm pretty much planning on giving away or junking all of the furniture outside of my bedroom and home office. Question is, am I safe to start getting rid of shit now and prepare to list a house that's totally empty, or should I wait until after the house sells so that I can use my dining room, living room, kitchen, guest bedroom, etc furniture to "stage" the house for buyers? [link] [comments] |
| We closed yesterday at 2.85%! 4 months after having an accepted offer. Posted: 10 Dec 2020 12:57 PM PST It's been an absolute marathon. We were very much part of the NYC exodus of people fleeing upstate. Yes yes I know it's a "terrible time to buy" but it's also a terrible time to stay where we are. My family is all at the end of our mental rope and I dread to think how we'll all be if we did this for another 6 months. We were staying up there for the whole of August and were seeing two or three places a day for a couple of weeks which meant that we were able to see the place the day it was listed and put in an offer the next day. Luckily we didn't get into a multiple offer situation and we got it for $10K under the asking price. We were also lucky to have a great agent who then connected us with a great attorney and a great local lender. It felt good to work with people who really knew the local market. Anyway, glad the whole process is done with and we can get in in time for the holidays. [link] [comments] |
| Is anyone doing 203k loans during coronatimes? Posted: 11 Dec 2020 10:52 AM PST If so, for what kind of credit/down pmt/limits? In the Midwest. [link] [comments] |
| Seller attempting to back out after purchase agreement set Posted: 11 Dec 2020 02:05 AM PST We're 14 days away from close, and we just heard verbally from our realtor that the seller informed their realtor that they want to back out. The reasons for backing out haven't been directly shared, but what we gathered is:
We've put in a fair amount of work on inspections, moving funds, informing our landlord of our move, etc, and we're caught in a lot of uncertainty suddenly. Feeling concerned/irritated, especially with one spouse is not in the country, and i can't tell if our legal system/real estate process is being taken advantage of. The options we've heard are to bring this to court or find a way to settle. We're going to find an attorney, but has anyone gone through this process? I'm curious if people have pushed through to finalize the agreement, but i'm worried about the costs (does the path through court take months or years?)? Or, have you generally settled? [link] [comments] |
| Aspiring Real Estate Agent in Monmouth County NJ -- advice on schools? Posted: 11 Dec 2020 10:32 AM PST Hi All, I'm a former teacher planning to transition into real estate in NJ. I know that there are a lot of schools that are accredited in my area. Is there any one school that has been more thorough or helpful than the others? Thanks in advance for your advice! [link] [comments] |
| What does T3 effective rent less that T12 mean? Posted: 11 Dec 2020 10:30 AM PST I am doing a case study for a job application. I also need to know what does "T3 effective rent rent equals to T12 mean?" [link] [comments] |
| Posted: 11 Dec 2020 10:07 AM PST I've received my initial cd a while back. I close on Monday at 2pm, and still havent received my final CD, or any info regarding where we go on Monday for the closing, only the city it's in. Is this normal? When did you receive your final CD? How close to actual closing day? [link] [comments] |
| California Real Estate scheduled exams booking up extremely quick. Posted: 11 Dec 2020 09:08 AM PST I have been trying to schedule a Salesperson licensing exam for about a month and a half. Every time I check eLicensing, which is often, about every 2-3 days, it shows no available exams for scheduling. Does anyone know why this is happening, or is this an effect of the pandemic, and that they are only taking in a handful of examinees at a time. Also another question I have is how long is my approved application valid? I believe it to be a year, but I'm not sure. Thanks for any input/valuable info! [link] [comments] |
| Posted: 11 Dec 2020 08:54 AM PST I'm currently in the process of trying to secure a loan for 6-10 unit apartment buildings. One of the lenders I spoke to requires fairly strict DSCR and because of COVID absolutely cannot do anything based on pro forma numbers. I've come across a number of properties that have been gut rehabbed, but because of this the building is completely vacant. What would be the process for securing a bridge loan for 12-18 months to purchase the property and get it stabilized and what are the typical terms for private lenders (or do they just vary wildly)? Would I then be able to go to a lender and secure traditional financing once the building is stabilized and rented out? Everything I've read about private lending typically uses flips as their examples and not for a commercial rental. [link] [comments] |
| Estimating cost of an addition on a house before offering? (NJ) Posted: 11 Dec 2020 08:42 AM PST Hi! I'm hoping someone could give me some advice :) There is a house we really like the property/location of, but the house itself is a little small and outdated. It may also need a new roof. We believe we'd need to add another room for it to be comfortable for us in the long term. But it's not like we can have a contractor come out and look at it without making an offer (I assume anyway). So how do we know if the house is affordable for us without knowing the potential costs to fix it up? It's listed at $325,000. We have $115,000 in cash (not including our emergency funds). We're able to do a lot of things ourselves (replacing/refinishing wood floors, tiling, electrical work, basic plumbing, drywall, replacing windows) but some things, like foundation, adding a roof, framing, we think is best left to the professionals. We don't want to bother offering on the house if it's out of our budget to fix up. So is there a way for us to guess at how much it would cost? It's especially confusing, at least for us, because some things would just be the material cost + our labor, and other things would require a professional to do the work. Here's a link to the pictures from the listing, if seeing the landscape/layout is helpful for this! https://www.realtor.com/realestateandhomes-detail/205-E-Mill-Rd_Long-Valley_NJ_07853_M51717-04349?status=off Thank you so much for any advice [link] [comments] |
| Posted: 11 Dec 2020 07:55 AM PST Our (seller) agent thinks my property could go for ~$30k more than the listing price. We are using the same agent that got us this property 9 years ago. This agent also helped us buy another property recently. This agent has been very accommodating and straightforward in all our conversations and dealings. Contract with the agent is for 4.5% (2.5% goes to buyers agent). If the agents assessment holds true, then it would be very appropriate for me to increase the agents cut, but dont know what would be the reasonable figure. Any suggestions? [link] [comments] |
| Posted: 11 Dec 2020 07:48 AM PST Any tips on buying your 1st foreclosure for rental property and what to look out for before the auction? Is it realistic to get a loan from a bank for this foreclosure with 20 percent down? Thanks! [link] [comments] |
| Books to read about Real Estate? Posted: 10 Dec 2020 11:33 PM PST I'm trying to find a bunch of books to learn about Real Estate. I'm not looking for Real Estate investing, or how to "flip houses", as many popular books on Real Estate focus on. I'm trying to learn, in detail, about how the industry functions - what are the ins and outs? Any book recommendations are appreciated. [link] [comments] |
| Selling home as is insurance claim Posted: 11 Dec 2020 07:03 AM PST My vacant home is under contract sold as is no contingencies or inspections. After the offer was signed by both parties the buyer who is a builder had his roofing contractor go up on the roof & found hail damage ( no notice to me of the inspection). Buyer contacted me asking to place a claim for the damage & now wants the proceeds of the claim which is to be paid by the insurance in two payments Actual cash value & Recoverable depreciation. There is a clause in the purchase agreement pertaining to casualty loss assigned to the buyer but the damage occurred in July & the purchase agreement was signed in November. Obviously both parties would like the money, so the question is am I obligated to assign the insurance funds to the buyer? [link] [comments] |
| Posted: 11 Dec 2020 06:33 AM PST What avenues are there for short short-term rentals like for a month or two months? airbnb, hotels, but what about apartments or condos? Is that possible? [link] [comments] |
| How to price in a wet basement? Posted: 11 Dec 2020 05:41 AM PST 1960s home in Minnesota. In the home's disclosures, the owner noted that there was water seepage in 2014 and they fixed & finished the basement. Also, in the disclosures, the owner noted that the carpet was wicking water in the springs of 2019 & 2020. I'm only considering this home because it's location. How do I factor in fixing the wet basement? Is this a pure estimate? How much does this usually run to fix? Could I make an offer but require a basement inspection to give me an estimate? I'll ask my realtor later today. [link] [comments] |
| Realtor commission tax question Posted: 11 Dec 2020 05:09 AM PST I understand that if a realtor rebates their commission to the buyer and it is used at closing then it is not taxable per the IRS.. However, if you are the realtor+ buyer and use your commission for closing costs then do you still have to report it as 1099 income? [link] [comments] |
| [MA] Developer buying property, gutting, immediately relisting & pushing Contract for Deed? Posted: 11 Dec 2020 05:00 AM PST There is a two family in my general area that is about 3/4 gutted and on the market. The current owner (two LLCs that appear to do real estate development) bought it and within two weeks put it on the market as a "contractor special". I noticed in the listing that an "option" is contract for deed. I pulled their LLCs up in the local registry of deeds and it seems they do a mix of full remodels and these gut jobs where they push a contract for deed. Anyone have any experience in a situation like this? I'd like to take a look and come with my own financing, but I'm bracing myself for them to push the contract for deed (which I will not do). Mainly just curious: (1) If people have seen developers do this regularly (2) If people have experience with contract for deed and what their thoughts are? It sounds predatory to me. [link] [comments] |
| Posted: 11 Dec 2020 08:24 AM PST The listing agent of my dream home will be receiving offers until Saturday. We submitted our offer days ago but I want my offer to stand out. we might be competing against 10+ offers for this house. I want to send the listing agent a gift basket to her office today. All I want if for her to keep us in mind and for our names to stand out among the crowd. Could this backfire? Could this be perceived as I'm trying to briber her or something? [link] [comments] |
| What do you think of this top 10 housing markets list of 2021? Posted: 10 Dec 2020 03:40 PM PST https://www.realtor.com/news/trends/top-markets-2021-for-millennials/ It talks about the top ten markets for 2021 and some were a surprise for me. I'm just curious what others think, especially if you live in one of these top ten markets. Does your personal experience reflect this article accurately ? [link] [comments] |
| Real Estate License in America Posted: 11 Dec 2020 03:31 AM PST If I have a British passport, and I've lived in the middle east my entire life, could I, by just getting a high school diploma, travel to America and take the real estate exam to become an agent? Or should I be an American citizen? [link] [comments] |
| What is the best way to sell to a family member shortly after purchase? (NJ) Posted: 10 Dec 2020 08:37 PM PST Long story short, been house hunting for many months but the market in NJ is insane. Limited inventory coupled with people leaving NYC due to Covid has made the already small pool of homes in NJ even smaller. In effort to stand a chance in this market, a family member has offered to pay full cash for a home purchase - and then do a private sale by owner to myself where I will take out a mortgage. What is the best way to go about this? I asked my lender and they said in NJ it would be 6 months before the title company would allow the title to be transferred again. Is that correct? I know people who have bought and sold homes in under 6 months, or is this something to do with it being a private sale between family? [link] [comments] |
| Posted: 10 Dec 2020 05:48 PM PST I am thinking about buying a house in Pittsburgh, PA and the buyers agent let me know that ColdwellBanker adds a $500 fee to the buyers agent. In every real estate transaction I've done it was always the seller who paid the two realtors. Has anyone else run into this? [link] [comments] |
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