Real Estate: We need an update on the tenants accused of shitting in the sump pit. |
- We need an update on the tenants accused of shitting in the sump pit.
- Offered 65k over asking, was accepted, appraised at 69k over asking!
- The power of NOT CLOSING
- Just closed Monday and today found out a murder happened in our house
- House was sold a month ago.. Back on market for $20K higher
- Apparently 35% of people are living in homes where rent or mortgage payments aren’t current
- Want to get into home inspection as a 20yr old female. Should I do it?
- Buying home for Sister, Selling it back to her while searching for my own home
- What to do if inspector is unable to look at roof or deck footings during inspection due to inclement weather?
- Discovered Chimney unusable and unsafe after closing
- Anyone have experience owning/staying in a condo?
- Buying a future retirement home
- Working in Buffalo, NY, wanting to cosign with parents in Harrisburg, PA
- Switching lenders after accepted offer with pre-approval?
- San Francisco TIC unit requires an all-cash purchase... why would that be?
- Real estate agents don't advocate for you!! Let me tell you why
- How does one finance a house valued at >$2mm?
- Please help on how I should handle a client that had asked me why I didn’t show her properties yesterday when she wasn’t the one to clarify that..
- Is it a bad idea to sell in California?
- Available options to purchase with cash
- My client had asked me why I didn’t show her houses yesterday? However, she didn’t make that clear with me. What do I tell her back?
- Rental apartment fridge has been out since Oct 23, with no replacement on the horizon. They are trying, but with covid they can’t get their hands on a replacement. Would it be fair to ask for prorated rent?
- Buying a home on $42k?
- Looking at a house..
- Owner recommending
| We need an update on the tenants accused of shitting in the sump pit. Posted: 20 Dec 2020 07:02 AM PST |
| Offered 65k over asking, was accepted, appraised at 69k over asking! Posted: 19 Dec 2020 05:32 PM PST We took a chance and put in a "Best and Final" at 65k over asking. We did so after looking at comps and judging from all the properties we had seen previously. It was a risk, we felt, so after our offer was accepted we anxiously waited for the appraisal. We got it back today @ 4K over the accepted price. We're elated! It's also a HUGE weight off our shoulders. Not sure why I'm posting, just wanted to share the good news and to show that using comparables and understanding listing price "games" can be extremely helpful. [link] [comments] |
| Posted: 20 Dec 2020 06:10 AM PST Buying from a new builder? Some advice. NEVER SIGN CLOSING DOCUMENTS UNTIL THE HOME IS 100% COMPLETE. That means 0 issues on your final walkthroughs. Don't take promises, hopes, dreams or whatever else from the builder. But.... In order to do this you need to be a smart home buyer. Moving is hard to plan. So use murphys law and don't plan to move into your new home for a solid week after the expected closing date (at least). Give yourself time to resolve any issues instead of being pressured to close on a home you are not happy with, or that is not done properly. [link] [comments] |
| Just closed Monday and today found out a murder happened in our house Posted: 19 Dec 2020 09:20 PM PST The murder happened in 1975. The rumor we were told was that he was a Nazi that relocated to the USA (Missouri) and he was shot execution style by a Jewish group as a "debt unpaid." I did some digging through Newspapers.com and finally found his name and more information about the murder. No mention of Nazi ties but he did return from Germany after WWII, yet he was born in the USA. Sounds like burglars were looking for his coin collection and they couldn't find it. His wife was bound and gagged and put in the tub, but she was otherwise unharmed. Now I feel bad he had a Nazi reputation when it seems like he was a normal father of four. Weirdly enough, we removed the outdated intercom and emergency system in the house this week to drywall and paint. Articles say she tried to press the burglar alarm unsuccessfully before they got her. So it's creepy to know all of that we removed was there with them. Just sitting with this news. I mean...it's our new house that we love. But I'm definitely saging the shit out of the house before move in. [link] [comments] |
| House was sold a month ago.. Back on market for $20K higher Posted: 19 Dec 2020 02:03 PM PST Our realtor just told us about a townhouse being sold in the city. This is an up and coming neighborhood. Totally renovated in the inside. Look wise it's everything we want. Currently on the market for $250K which is our budget max. Decided to research online and saw it was sold last month for $230K and then now back on market for $250K. Hubby and I are not sure what to offer. I want to go in at asking price but the house is priced to sell. They're accepting only the highest and best offers for one day. Surrounding homes are on sale starting at $240-$450K. How much should we offer? Why would a house go back on market a month later? This makes me a little hesitant. [link] [comments] |
| Apparently 35% of people are living in homes where rent or mortgage payments aren’t current Posted: 20 Dec 2020 07:33 AM PST This link was posted by someone over at /r/moderatepolitics and I'm posting it here due to all of the posts people keep making about the direction of the real estate market. Edit: I should note that these are the people who said eviction or foreclosure in the next two months is "somewhat likely" or "very likely". [link] [comments] |
| Want to get into home inspection as a 20yr old female. Should I do it? Posted: 19 Dec 2020 11:30 PM PST I posted about this before but I was thinking that home inspection would be a good start before getting into some other real estate career. I'm not sure what career yet, maybe appraiser or an agent. But I thought starting off as an home inspector would be good cause you don't need a degree. I think me working as an inspector would also look good on my resume too, since jobs like that are important when buying/selling homes. I don't plan on making a business out of inspection just to see if i like it enough to move forward in another real estate career which ever one doesn't involve a college degree, that pays well, and I actually love doing. But do you think start off as an inspector is a smart idea before stepping into another real estate career? In michigan, there is no state requirement to be an inspector. but i also don't have any experience anyway. I know that inspectors is usually a job for old farts, but do y'all think i should give it a go? It does offers training (hopefully its free) and pays between $40,000-50,000 . The only thing is I'm afraid of ladders😩 I'm also kinda worried I would get judged because of my age and because I'm a girl and that maybe i wont be taken seriously either🤷🏾♀️ i also have an over the phone interview coming up soon. [link] [comments] |
| Buying home for Sister, Selling it back to her while searching for my own home Posted: 20 Dec 2020 06:12 AM PST Hello! I'm in a unique situation and looking for some feedback on questions I should be asking and what to know/do. My sister is putting her house on the market January 7 and is estimating to make ~$90k-100k profit on the house. However, she is looking to purchase a house that is under Foreclosure for $90k in the coming month and cannot do so right now because she has her own mortgage and is asking me to assist in purchasing it. Once her house is sold she will be using the profit to purchase the house from me. We live in Illinois for further reference. I am also currently searching for a home to purchase and have made a few offers in the past months. I am looking to be a First Time home owner by the end of the year, 2021. If I do proceed:
I trust her as she is very trustworthy person and diligent with her finances and I am willing to help as much as I can. I also will be speaking with a Mortgage Loan Originator. Any feedback or experience would be appriciated. [link] [comments] |
| Posted: 20 Dec 2020 10:23 AM PST I'm moving through the process for my first home purchase and have an upcoming inspection in an area that recently got hit with about two feet of snow. I was talking to my realtor yesterday and inquired how the inspector would be able to inspect external parts of the house like the roof and the deck footings. He kind of casually made it seem like the inspector would do the best they could but that was a risk of winter home purchases. The house is 12 years old and the roof looked okay when we first saw it, but realistically, how concerned should I be here? Is there anything I can do to help make sure the external parts of the house are thoroughly inspected or is that truly an unrealistic expectation? [link] [comments] |
| Discovered Chimney unusable and unsafe after closing Posted: 20 Dec 2020 10:14 AM PST Greetings all. I'm pretty sure I know my answer. But here's the story. Purchased this home using a VA loan in the summer. It's cold now in VA and we hired a chimney company to come sweep as I've never had a home with a chimney. When he inspected he told me the chimney is not safe to use and the terra cotta flues move too much inside the chimney. He said it would cost several thousands to make safe. Obviously had I know this at closing I wouldn't have purchased. Did I just learn an expensive lesson or do I have an recourse? My agent reached out to the other agent to see if the last owners even used the fireplace. Or is the company I hired just overly cautious. Any thoughts. [link] [comments] |
| Anyone have experience owning/staying in a condo? Posted: 20 Dec 2020 10:11 AM PST There's a particular city I've wanted to own a condo in, since I travel there enough to warrant getting a place for when I'm there. I've never jumped into the condo world, and wonder if folks can speak about both your experience living in a condo, and any thoughts/considerations I should keep in mind, and if it's a worthwhile investment. Thanks so much! [link] [comments] |
| Buying a future retirement home Posted: 20 Dec 2020 10:00 AM PST Hello, We are considering purchasing a second home that could become our primary property once we retire. We could rent out the property to cover the expenses. Is there any calculator available where I can estimate how much I can afford and take into account potential rental income? Simple calculators are available but I am looking for something that could account for all possible expenses and cash flow scenarios. [link] [comments] |
| Working in Buffalo, NY, wanting to cosign with parents in Harrisburg, PA Posted: 20 Dec 2020 09:42 AM PST I am single, 25 years old. I work in Buffalo, NY and want to buy a house for my parents in Harrisburg, PA next summer (July-August). My situation is: I have been currently working for a company in Buffalo, NY for almost a year. My income is 54k before tax. My parents' income is 40k total. We want to buy a house at about 125k. We can afford 25k down payment. I have 30k student loan (but will likely pay off significantly in the next 6 months). My only concern is that because I work in NY, I don't know if I can cosign with my parents to buy a house as a primary residence in PA (my parents will live there, I will not) and receive some form of assistance like PHFA Home loan or any kind of state grant. Does anyone have experience in this kind of situation? Thanks for your help. [link] [comments] |
| Switching lenders after accepted offer with pre-approval? Posted: 20 Dec 2020 09:26 AM PST Is this a thing? Is this shady to sellers? Seems like a different bank could closer sooner than our credit union. Offer is essentially the same. Should I not do this? Is there any risk in the process? [link] [comments] |
| San Francisco TIC unit requires an all-cash purchase... why would that be? Posted: 20 Dec 2020 09:23 AM PST I'm looking at a TIC unit in a 4 unit building in SF. The listing says it requires all cash purchase. What are the the most likely reasons it would require all cash? It appears to be livable, but certainly not newly renovated. I have two thoughts: 1. there is no loan on the building 2. there is an assumption that an appraisal wouldn't match the listing price. Would a person be able to make an all cash purchase with a hard money loan and then refinance into the TIC loan (if there is one)? [link] [comments] |
| Real estate agents don't advocate for you!! Let me tell you why Posted: 20 Dec 2020 09:15 AM PST Why buyers agents value is limited: Buying agents get 3% more or less as a standard fee. This is regardless of what you end up paying for the home. How much of a difference in their fee is it if you pay 400k or 415k? not much of a difference. Not enough for them to push the issues and negotiate hard. They have every reason to just close the deal asap and move on to the next client. NOT to fight for the absolute best price, etc. This goes for both selling and buying agents. In fact, the only real worth they have is their access to the MLS listings, so they have the most up to date information on what is and what is not being sold. Though these days real estate websites have their usefulness, they can be inaccurate in fast moving markets. Real estate agents are simply relic's of a bygone era and so are their insane fees. I'd estimate that it pays to get an agent in 5% of all home sales and only in very specific circumstances. So why do people keep getting an agent? Simple answer, it's the social norm. It has been pounded into our cultures head for 80 years, if you are buying or selling, you need an agent. That, along with most folks only buy 1-3 homes throughout their life, so they figure why not? Though I'd say the biggest reason is.......... The true cost of agents just gets rolled into an overall loan amount, spread out over 30 years (typically). So it's more accepting and not quite in your face. You don't need to cut them a check at close. And by the way, that 3% you paid for your agent over 30 years of interest just about doubles. Think about that and do the math of what that 3% added to your 30 year mortgage really costs you in the long run. It's insane. Screw that noise [link] [comments] |
| How does one finance a house valued at >$2mm? Posted: 20 Dec 2020 09:08 AM PST Do banks require 20% down? Can I still qualify for an FHA loan? How does the process differ from buying a home that costs $350k? [link] [comments] |
| Posted: 20 Dec 2020 08:38 AM PST I don't want to hurt this lady's feelings but she is a complicated client. She's got three listings with me and she's going to rebuy with 1031 exchanges. A lot of the properties she wanted to see required an offer subject to inspection. However only one property didn't require that. But she didn't clarify with me. All she said to me was "I see." Do I just tel her "I apologize for the misunderstanding. I thought you had changed your mind about seeing the property. But please let me know if you would like to see it tomorrow. We can try to schedule a time."? [link] [comments] |
| Is it a bad idea to sell in California? Posted: 20 Dec 2020 08:27 AM PST Hi all I need some advice and don't have any family or friends who know much about real estate. I have a townhouse in CA that I bought for 350k in 2013, and if I was to sell it, it would probably sell for 600. Great area in Bay Area, good schools. Low interest rate bc we did refi in summer. I'm moving to Chicago. I am assuming I would need to sell in order to buy a place out there, bc I don't have another down payment. Does it make sense to sell and buy a place in Chicago for between 600k and 800k? We are dual income over 250k. OR is there something else you would do? I kinda hate giving up such a deal in California, but I might just be making a big deal about nothing. What other options do you see, and what would you do? [link] [comments] |
| Available options to purchase with cash Posted: 20 Dec 2020 08:22 AM PST I'm curious as to the group's input for current available options to purchase with cash...without having cash. Other than a cash out refinance, are there any alternatives (aside from a liquid family member) that institutions currently offer? Thanks! [link] [comments] |
| Posted: 20 Dec 2020 08:20 AM PST I don't want to hurt this lady's feelings but she is a complicated client. She's got three listings with me and she's going to rebuy with 1031 exchanges. A lot of the properties she wanted to see required an offer subject to inspection. However only one property didn't require that. But she didn't clarify with me. All she said to me was "I see." Do I just tel her "I apologize for the misunderstanding. I thought you had changed your mind about seeing the property. But please let me know if you would like to see it tomorrow. We can try to schedule a time."? [link] [comments] |
| Posted: 20 Dec 2020 08:17 AM PST Like the title says, the fridge in our apt went out Oct 23 and I let them know that day. They have been looking for a replacement, but all the stores around here are back ordered. The last update I got Dec 17 was that the store has over 1000 appliances on back order. I know they have been trying, but we have also been with out a fridge/freezer for almost 2 months now. With the weather being colder now we've put a cooler outside to keep things cold. Would it be fair to ask for reduced rent until this is fixed? What would be a fair amount to ask for? One other thing that makes it a bit more complicated, I rent this apt through the school I work for. They offer a few apts to young teachers for a very cheep price. My superintendent is technically my landlord, so it is a bit awkward to ask for things like this. [link] [comments] |
| Posted: 20 Dec 2020 08:00 AM PST Hello, I'm weighing my options of buying vs renting. Here's what I'm working with:
I'm trying to figure out if this is practical and loosely what I could afford. Thank you! [link] [comments] |
| Posted: 20 Dec 2020 07:53 AM PST Owner smoked in the garage. Theres drywall and carpet and another unfinished room in the garage. How much does this drop the value? I gotta think its gonna go below asking.... asking price is fair without smoking. [link] [comments] |
| Posted: 20 Dec 2020 07:50 AM PST So I went to look at a home today and I asked would they be open to do owner financing they said yea but then asked have I tried getting financing they said they know somebody who would easily finance me and gave me their name and number (sign of company was also in front of yard) Is this something I should trust? Is it normal for a owner to give you suggestions on who you should get financed through? [link] [comments] |
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