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    Saturday, February 6, 2021

    Home Unlabelled Real Estate: New law may effect those of you who have (or want) your properties in an LLC

    Real Estate: New law may effect those of you who have (or want) your properties in an LLC

    February 06, 2021

    Real Estate: New law may effect those of you who have (or want) your properties in an LLC

    New law may effect those of you who have (or want) your properties in an LLC

    Posted: 06 Feb 2021 08:16 AM PST

    Leaving property to a disabled child

    Posted: 05 Feb 2021 09:57 PM PST

    We know our son will never be able to live independently and we want to plan for his future. One concern we have is that if we leave him too much the government is just going to take it or deny him services after we are gone. We still have decades to plan for this, I was just curious while we were in the process of buying a new house.

    He can have up to $100k of assets in a special account and still qualify for SS and medicare, so leaving him a house in his name will disqualify him from that. Is there a vehicle that we can leave him a property to live out his life in with money to maintain it. The last thing I want is him going in some 3rd rate hospital facility after we are gone, even the "first rate" facilities are little more than prisons with chemical restraints instead of bars. He does have a brother that I would hope would manage the estate if needed, but I don't want to put that on him if he doesn't want to take responsibility, besides he is a teenager, we can worry about that WAY down the line. It might be better to put the estate under the control of a law office or similar that would look after his best interests.

    submitted by /u/homebuying2021
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    Are iBuyers like OpenDoor, Knock, and Redfin Now legit or scams? Anyone have experience with 'Cash Now' buyers like these? (I have a specific case-use below)

    Posted: 06 Feb 2021 12:06 AM PST

    I am aware that 'cash-now' iBuyers like Open Door will undercut the value of my home from $30 - $50K, but my situation is (at least I think) ideal for services like these.

    If I list my house on the market (SF Valley/Los Angeles), I have a potential to make $680K and pay a 4-6% selling fee/commission; Open door is working on an offer to me around $640 and quoted a 3% service fee (which is oddly lower than the 5% fee listed on their website, red flag.) But fine, I take a hit for $40ish k.

    For our situation, we're trying to get on the list to buy into a new Lennar property opening in 'late March.' Lennar said we can't even be considered or placed on the waitlist until we are non-contingent. Using OpenDoor allows us to tell Lennar that we have an offer and are non-contingent. If we go the traditional route, it will take about 2 months to sell our current house (pushing us back on the Lennar waitlist/costing us more money down the line) .

    Finally, OpenDoor says they will let us stay in the house for up to 9 months after we accept their offer, letting us pay our mortgage, and saving us the cost of renting an apartment and storage unit for our stuff while we wait for the new house to be built. 9 months of rent/storage in LA can cost $20K and above, making the gap a lot smaller in favor of OpenDoor.

    The biggest red-flag to me though was the fact that the OpenDoor consultant told me that if the 9 months pass by, and we decide to not sell our home, we can back out with no financial or legal repraucation. Is that legit? Seems a little too good to be true. Anyone have thoughts on this?

    submitted by /u/SoySanjay87
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    An explanation of 13 years of Toronto real estate and how we got to this point where average detached homes for an area of 6 million people went from USD$744k to USD$940k (CAD$950k to $1.2mil) in 12 months (and a bit of what’s maybe around the corner in the short-to-medium term)

    Posted: 06 Feb 2021 09:43 AM PST

    I'll start off by saying that although there are some regulatory differences between the US and Canada when it comes to financing homes, there are still some fundamentals that both countries share with respect to increasing housing prices. My profession requires me to closely monitor what's happening (although I'm not a real estate agent, nor in housing finance), plus I find it fascinating. I've been following it closely for the last 15 yrs.

    Another thing I'll say upfront regarding the foreign investment numbers I provided, we've seen numbers all over the place, and often contradictory in the same week (I recall a few years back one institutional report came out on a Monday saying it was under 4% and another bear-on-real estate article came out on Wednesday saying it was over 18%! along with others stating everything in between). And I watched as the numbers slowly trended downwards as Provincial govt measures took hold and as foreign currency control measures took affect (most notably a crackdown on $50,000 USD transfers out of China in 2018 and how that started to play into the new social credit system measures in 2020). So I've averaged some reporting numbers since the truth likely laid somewhere in the middle).

    In the end, I'm neither bullish nor bearish in the medium to long term. It's been all context driven to date, and will continue to be in the future (that's all I can say on that). In 2019 if someone told me the apocalyptic plague or a catastrophic meteor would've hit, I wouldn't have believed it. And I wouldn't have thought prices would've reacted as they had. Well, we got the plague. Will it be meteor-2022?

    Anyway, this is a timeline which explains a lot of the market from the 2008 financial crisis to present, along with some possible scenarios into 2025 to 2027 based on the history of it all.

    • 2008 - 2012 - Following 2008 a lot of people were hesitant to buy property. We fared much better than the US and much of Europe through the financial crisis, but there was still a lot of uncertainty. But by 2013 the market started to get back to 2007 levels.

    • By 2013 Toronto felt their jobs were finally safe again following the financial crisis and Canada's economy was doing well again.

    • 2014, people who put off housing purchases the prior 5 years (during the financial crisis) started to jump in. Toronto was seeing big population gains as well (domestic + international). Prices went from a relative calm to a climb.

    • 2015, People saw larger gains in real estate than other investment tools. This prompted more people to get in on it (be it reno-flippers, those wanting long-term primary residence, and domestic & foreign investors). Construction took off following a sharp increase in builder confidence for the first time in 7 years. By Dec 2015 detached houses were going up by $8000/month (versus $3000/month earlier in 2015).

    • 2016, by February it seemed like everyone who was pondering getting a property for themselves (first time, upsizing or investing) started to feel FOMO. By May detached houses were going up $12,000-$14,000/month. The momentum kept building in a feedback loop throughout the rest of 2016.

    • By the end of 2016 / beginning of 2017 detached homes were going up by $20,000/month. It was insane. Politicians were feeling the heat as people were getting really angry and pointing their fingers at both politicians and foreigners (even though other major factors and reasons were also at play which didn't get nearly as much attention as it should have, like those mentioned above). There was word that anywhere between 10-15% were foreign buyers (but final records showed it was actually much less, I think around 5-9% in certain market segments once records were checked, but it fueled greater FOMO in the interim before it finally fell to around 3% after the foreigner tax was imposed, and then down to 1.5% in the year leading up to COVID. I wouldn't be surprised if foreign investment is now almost 0% since COVID and since AirBnB was banned). By Feb / March 2017 (just weeks before the brakes were applied by the Wynne gov't) the population's thoughts towards the market seemed to fall between two extremes...

      (1) that this couldn't continue and it would end bad if the govt didn't intervene

      (2) at increases of $25,000/month, better get in and buy now or be locked out forever

      Probably half of the public looking for homes were somewhere between these two thoughts and were prepared to buy out of FOMO if prices kept going up, but they were equally willing to not buy and to just wait-and-see if they thought the province and feds were going to hit the brakes on housing.

    • April 2017, the govt hit the brakes with the foreign buyers tax. The FOMO bubble popped. The prospective home buyers mentioned in the previous paragraph now wanted to wait-and-see what was going to happen with prices before buying. It stopped a lot buyers from buying which stopped the price increases. At the same time sellers took their homes off the market to see what was going to happen (ie they didn't want to risk selling at a lower price if they didn't get what they wanted). That sudden collapse in supply stopped prices from dropping. It was a standoff... buyers weren't buying and sellers weren't selling. Prices stagnated and stayed stable.

    • June 2017 - the feds introduced the stress test. That reinforced buyers not being confident yet in buying, and sellers not wanting to sell at risk of a lower price. The home price stand-off continued, with prices remaining in suspended animation (there was a drop, maybe about 8%-15% depending on the area of Toronto, but it was short lived over the rest of the year).

    • Fall 2017: With the damage from the financial crises over, quantitative easing by the feds was over. Interest rates started to climb. Housing prices stayed stable as all sides held their wait-and-see position.

    • 2018 - rates continued to climb. In May 2017 they were around 2.1%. By May 2018 they were 3.4%. But by this point a whole year had gone by since the foreign buyers tax, and 11 months since the stress test. People (sellers and buyers) saw that Armageddon never did happen as many feared. People felt they dodged a bullet and jumped back into the market despite higher rates. Housing prices slowly started to climb again.

    • 2019 - housing prices started a new, moderate and steady climb. In early 2019 the increases soon made up for the price decreases just 12 to 18 months earlier in 2017.

    • Feb-May 2020 - Covid stopped and reversed the climbs. This time Armageddon did actually happen (the Plague) and nobody wanted to buy if the market was going to crash. BUT homeowners were trapped. In a normal crises if buyers all stopped buying, it would entice homeowners (at least in theory) to sell as fast as they could to cash in as quickly as possible before prices went too low which would cause them to lose their shirts. In theory that would cause a real-estate market crash.

      But (and it's a major BUT) COVID prevented homeowners from selling all at the same time, in a large selling movement. Stay-at-home orders and lockdowns shut down the real-estate industry (for both buyers and sellers) and homeowners were not given the opportunity to sell off. A massive drop in prices and a collapse did not occur. (There was a moderate drop in prices from March to May with a brief major dip in March 2020, but that quickly rebounded).

    • June 2020: As we went into summer people realized THREE things:

    1. A crash was averted because COVID prevented a sell off (ie: you can't sell your home if COVID lock-downs have locked all your potential buyers in their homes, making it so you don't even list your home), and

    2. People were working from home and knew WFH would be a long-term reality. WFH increased demand exponentially, and

    3. the government sharply started up quantitative easing again to allow the government to safely take on massive debt loads to shoulder the economy through COVID. This plunged interest rates which was like pouring oil on point #2. Whereas housing was still extremely expensive (still at 2018 levels as we entered summer 2020), a LOT of people suddenly found they could afford it with new record low interest rates.

    • Jul 2020 to now - the market kept going up and up and up for the same reasons mentioned above. In addition, areas in the Golden Horseshoe (beyond the GTA) really took off more than any time before as (1) WFH enabled it and (2) as locals in those areas got FOMO for the first time. Since November, it spread to all of Southern Ontario, and now you can be in a small village in the middle of nowhere and houses are at least $350,000+ in a village of 2000 people half way between Windsor and Leamington (which has never happened before). It's crazy. Even central Nova Scotia (a long-time write-off by the rest of Canada) has become the new El Dorado for real-estate.

    • How long can it continue? Well, it's anyone's guess. The BOC said they're not planning to ease off of quantitative easing until 2023 because they can't (they need to keep debt servicing costs lower than GDP growth to be able to manage and tackle the debt - lest it collapse gov't services - which should keep retail mortgage borrowing rates low). And because mortgages and buyers are are still "stress tested", this leads one to assume that even if rates were to start to rise in 2023, that people can financially shoulder a 2% increase (which could take us as far along as 2025 to 2027).

      Probably what will determine how much or how fast prices will continue to increase will be if the current pool of buyers maxes out because prices pass a certain threshold. The question then will be if prices will go into a holding pattern at that point - which is a strong possibility (However, I can't see them collapsing, because if they go down there will be hoards of others who will want to get in to take advantage of ultra low interest rates as a result of quantitative easing).

      After 2025 (and into 2027), if rates go up beyond what people were stress-tested for, who knows where things could go (There are just too many factors to make predictions beyond 2026 / 2027 - ie: • possible increases in immigration, • possible decreases in immigration as the US under Biden will be copying our immigration point system to compete better which leaves immigrants having to chose between them and us, • rates possibly staying the same to help the gov't try to get rid of $1T in new debt, • rates possibly going up further, • increased supply, • decreased supply, • another recession, • complete economic boom times ... Just nobody can know at this point). Plus so many recent buyers will already have a cushion of 5-10 years equity built up in their homes.

    So there's our 13 year history of Toronto housing since 14 Sep 2008 (from the day Lehman Bros collapsed and the financial crises started, until today)

    And if you're curious what all this quantitative easing is about, here's a comment I wrote to explain it elsewhere, with a bit of a deeper explanation I wrote here, and how it ties into all of this and our interest rates (Which at least provides somewhat of a constant into the medium term which can allow us to make some predications a few years out).

    (Edited a couple of number typos)

    submitted by /u/Norcan987
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    Need help “moving on” from a house

    Posted: 06 Feb 2021 09:56 AM PST

    This is a weird situation... My husband and I recently put an offer on a home that we lived in for 6 months until recently (we moved out a few months ago.) The house was on the market last year, but is currently off market. We know the owner. He has told us numerous times that he wants to sell, and we love this home very much. We are first-time home buyers and have been working with an awesome realtor.

    We have been trying to find something we love, but had felt stuck on this house. Our realtor encouraged us to reach out the owner with an offer (she showed this house when it was on the market) and helped us put together the offer that she presented to the owner. We offered slightly under the house's appraised value, but above what he was initially asking for. The owner lives across the country and rents the house out. He has great emotional attachment to the house, but has had a lot of financial issues, his wife really wants him to sell it, and he told both us and the realtor that he "knows" that he should sell. He said he is considering it now, but is almost certain that he can't bring himself to sell it.

    We really need to move on from our desire to own this particular house, but it's really hard. I'm not sure what our issue is with moving on, and I know intellectually that there are many other houses out there that we would love, but it does feel like nothing quite compares yet.

    What do we have to do to get over this house? Take some time from looking? Look a lot more? The process has felt emotionally draining and I feel like we need to figure out the best way forward.

    submitted by /u/OutlandishnessNo5216
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    Where are all the buyers coming from??

    Posted: 06 Feb 2021 12:16 AM PST

    I came to this sub in a similar boat as many. First time home buyer, trying to navigate an insane market (PDX) where people are overbidding like crazy and waiving inspections. What I didn't realize until coming here is that this is happening in so many cities all across the US.

    What I'm still wondering though is how could this be the case everywhere? If inventory is so low and people aren't selling their houses during covid then where are all the buyers coming from? Is it just a mass relocations from less popular cities to more popular cities? I hardly see anything about buyer's markets, but maybe I'm missing it. Is it really seller's markets everywhere?

    submitted by /u/remembermysubs
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    So very ready to buy. Impatiently waiting!

    Posted: 06 Feb 2021 08:34 AM PST

    I'm very impatient and ready to buy my first home. Finances are all set. Annoying part about it is, the particular community I'm looking in is at a standstill as far as new listings coming on the market. There was an influx between November and early January, but nothing new since then. I'm adamant on living there.

    Any suggestions on what to do in this case? I've heard of farming a community and even sending flyers. Curious what others experience was during the home buy process...How quickly (or slowly) did it happen? Were you partial to any single neighborhood/area? What's something you're glad you did to prepare yourself?

    submitted by /u/HopelessPragmatic
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    Distinction between narrow SFH vs Townhome (DFW, TX)

    Posted: 06 Feb 2021 08:21 AM PST

    I'm a single buyer looking to buy my first house, and being in the DFW area most houses here are on the larger side which I won't need for the foreseeable future. I've noticed a few newer properties which are narrow single family homes, maybe 25 feet wide and less than 2000 sq ft but no shared walls like in a townhome. Do these tend to attract different buyers from townhomes, or are they their own separate category? I'd rather not buy too much house but I also don't want to buy something that is too different from norm.

    submitted by /u/throwaway520214
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    Real estate agents reviews

    Posted: 06 Feb 2021 09:14 AM PST

    Where can I find a site to view reviews on real estates agents

    submitted by /u/jbourne7
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    (CA) Poorly built condo building, should I take the risk?

    Posted: 05 Feb 2021 10:57 PM PST

    Context: 5-story complex, built in 2007, several units on sale that aren't moving most likely due to building defects that the HOA is in litigation for.

    I'm interested in buying a top floor corner unit, and have been reading the HOA disclosures which show it's in the mid/late stages of litigation using a well-respected firm. They seem confident they will win their case against the builders, whose insurance is enough to cover the cost of repairs.

    The owner was there when I visited today and he was forthcoming about how his unit is affected -- moisture around windows during periods of heavy rain. An inspection will show high moisture levels around the windows. The owner said that caulking was added outside which has helped. I saw this on the outside of the building after I left:

    https://i.imgur.com/kcTCdga.png

    https://i.imgur.com/gUwkie9.jpg

    (The unit that I'm interested in is the one at the top left.) Aside from the water issues, I love everything else about it.

    The HOA financials show it's about 40% of the recommended funding levels and is at medium risk of a special assessment, although it's never had one and the dues increases of the past few years seem reasonable.

    I know it'll be hard to get a loan for this, but if I'm able to, how big of a risk is this? I don't mind dealing with repairs and I'm not in any hurry to turn this home into a big investment. I just want a safe place to live in without any drawn-out nightmare scenarios.

    submitted by /u/sortbycolumn
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    Thinking of buying second home. What are my options?

    Posted: 06 Feb 2021 07:46 AM PST

    I purchased a single family home 5 years ago for 110k and currently owe about 90k on it. I know the zillow estimate isn't all that accurate, but it's showing a value of 228k for it. I've pulled none of the equity out of it so far, but would like to use it to put a down payment on something bigger and nicer.

    My house was move in ready, and through the years I've only really had to do various cosmetic updates, so the house is still in great shape. The only problem is the neighbors house became condemned about 2 years ago, and is still an eyesore to this day.

    Am I in a good position to pull equity for another property? Will the neighbors house decrease the value and curb appeal for mine? Should I just pay for an appraisal so I know the true value I'm sitting on?

    What would you do in my situation?

    submitted by /u/MUNCHB0X
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    Has anyone heard of Federal Cash Buyers?

    Posted: 06 Feb 2021 10:19 AM PST

    I'm planning on selling my home and moving by April, but haven't posted my home on the market yet. Today I was cold called and supposedly this organization wants to buy my home with either a "cash offer" or a "payment plan." I'm skeptical by nature, but I played along until red flags start coming up. Has anyone heard of this organization or if it's legitimate.

    submitted by /u/Notyouraveage-fuckup
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    My two brothers and I formed an LLC to purchase our first investment rental property. Advice needed!

    Posted: 06 Feb 2021 10:19 AM PST

    We've recently formed an LLC and are looking for our first property, preferably a single family dwelling at around 125-150k. That can buy us about a (move-in to semi move-in ready) 1,200 square foot house in our area that can go for about 900-1200 dollars a month in rent.

    I'll use a 150k house as an example.

    Down payment: $30k

    Est. 15 year fixed rate at 2.87 (our credit scores average 800)

    Monthly payment: $821

    Monthly property tax: $194

    Monthly insurance: $67

    Total Monthly Cost: $1,082 Estimated Monthly Rent: $1,100

    We'd pay the mortgage payments with the rent money and subsidize any other costs and maintenance with our own cash, possibly making extra payments here and there to pay down the mortgage faster. Longterm we'd like to take equity from this property to buy other properties, but that's not until we own at least 80% of this one.

    So here's my question: besides closing costs and variable costs of maintenance/repairs, is there anything else that I'm missing? Anything I should keep in mind? Any advice is helpful and thanks in advance.

    submitted by /u/Puzzleheaded-Age-681
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    Buying Home with foundation repair.

    Posted: 06 Feb 2021 10:18 AM PST

    So I put in a offer for a super affordable home in the outskirts of a city with an extremely competitive market. It's been totally remodeled except we noticed the home has foundation patches, which means the foundation was worked on. Seller has not presented paperwork on that work, so I asked for them to pay $3000 for future repairs, they agreed. It's a small home about 1089sqf I go to inspection today and I'm super nervous. A lot of Hispanic people will have their cousin do the work instead of going through a company so not having the paperwork at hand makes sense, I just want to know if I will need to fix it again in 5 years (I live in Texas) or what exactly was done. I'm still in my option period, and depending on what the inspector says today, I might not continue with the purchase. I'm a first time home buyer, single person, I worked really hard to afford to buy a home and I'm afraid I might make a bad investment. Would you buy a home that has had foundation work and the seller ended up not being able to provide paperwork?. Or should I just get a foundational specialist to come look at it to have peace of mind?. Seller said if I found a specialist and they said it needed work they would pay me $6000 in closing costs, but it's an extra expense I did not plan for. Thank you!.

    submitted by /u/MysticadelaSierra
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    How to know if the property that you’re spending money on is overpriced or not ?

    Posted: 06 Feb 2021 10:14 AM PST

    Hi is there someone you can hire or a way to find out if the property you're going to buy is fairly priced ? I'm based in London UKThank you.

    submitted by /u/Rabei25
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    Sell or Rent?

    Posted: 06 Feb 2021 04:15 AM PST

    with a possible relocation and currently our house valued at 220k with 150K loans left over and original loan of 164K is it a sell or rent? I see the value of our home going to maybe 240K in the next 10 years but not higher than that. Sell or rent? Lived for 5 years now

    It is a VA loan

    submitted by /u/Prize_Rooster3822
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    Do certain price points have hot and cold trends?

    Posted: 06 Feb 2021 09:52 AM PST

    We always hear about "sellers market", "buyers market", and thing being hot or cold or a good time to buy, etc. But does that go further into market segments? Like, can it be a good time to buy homes in one price range buy at the same time homes in another price range are overpriced, etc?

    And if so, how is this tracked?

    submitted by /u/PhatKiwi
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    Mortgage Tax Deductible

    Posted: 06 Feb 2021 09:52 AM PST

    Hello, tax season is here. First time home buyer, purchased my home 3 months ago in CA. Does anybody know what from closing costs/taxes is tax deductible?

    submitted by /u/Basedtiger958
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    Foreclosure- Illegal winterization of home

    Posted: 06 Feb 2021 09:17 AM PST

    My MIL's house has been in foreclosure for some time now, but with COVID things have been at a standstill. She has since moved from the home, but was still paying electricity and frequenting the home to do her laundry. The mortgage company had sent letters stating that she would not be removed from her home until March at the earlier. On January 9th, she went to her home to do laundry. On January 10th, the house was padlocked with a sign taped up saying the home was winterized by a contracting company. She contacted her mortgage company to let them know that 1) she was still occupying the home and 2) that nobody had contacted her about winterizing the home. The mortgage company said they would send the same contracted company that padlocked the door out to unlock the door. The owner of the contracted company avoided her for several days (10 at least), making excuses for why he could not meet her to unlock the door. She has proof of this in a text message exchange with the owner. She contacted the mortgage company again to let them know that the owner was refusing to meet. The mortgage company agreed to send a different company out to unlock the door. When she finally met the new company (January 23) and got back into the house, she realized the house had been ransacked and several items were missing. She believes it was the winterizing company as she had been at the house the day prior. Every dresser drawer was open and dumped out, a chest was smashed open, tools were missing, silverware, many sentimental items, weights from a weight bench were gone, even clothes. She did not file a police report, but has pictures and videos of the damage. She did call the mortgage company to let them know that the house had been ransacked.

    What should she do now? File a police report? Get a lawyer and sue?

    submitted by /u/Riding4Donutz
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    Realtor won't show me a house

    Posted: 06 Feb 2021 09:13 AM PST

    Hello,

    I recently had my offer accepted for a house that I'd toured twice. We had an inspection contingency, and I went through the house again as part of that.

    Now, closing is a couple weeks away. I'd like to double check some things (measurements, cabinet layout, window height, etc.). My agent is telling me we can't enter the house until the final walkthrough, because if there is any damage we could be blamed. This seems strange to me, since the agent would be there and it wouldn't be that different from the inspection. I talked to my mother about this (she's an agent in another state for many years) and she said it's common for buyers to tour their house again under contract.

    I pressed our agent again, and she reiterated the same points, saying she was doing what is in our best interest, and that she could ask the seller but they might decline.

    What do you all think, is this fishy?

    Thanks!

    submitted by /u/GrimMoney
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    Water softener

    Posted: 06 Feb 2021 08:50 AM PST

    We are buying a new house and selling our existing house which has a few yrs old Kinetico water softener system. We just paid it off the system and love the benefit of the system. Should I include the system with a sale as a separate option to buy it just include it with a listing price? It will cost $609 to move the system to new house and $4500 to get brand new system to new house.

    My realtor suggests it is hooked to the system and should just stay there but then refuses to agree to add at least few thousand $$ to the listing price. We are already listing it lower price point to get more offers...her strategy for current market.

    Any suggestions will be great help!!

    submitted by /u/arpu2003
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    Title V inspection (MA)

    Posted: 06 Feb 2021 08:33 AM PST

    Hi everyone!

    I mentioned in a recent post but my wife and I had an offer accepted on a house recently. Per our P&S agreement and, from what I understand is common in MA, the seller is required to conduct a Title V inspection. Our addendum specifically says "Seller to provide passing Title 5".

    We also have another contingency form that says that the "Seller shall engage, at their expense, a licensed System Inspector to prepare and file the System Inspection form. Upon completion of the inspection, and any necessary repairs, the property will be restored on its original grade, and no further restoration shall be required. If an inspection can't be done by the specified date, we can terminate the agreement no later than 5 days." We did provide an addendum that says that the Seller can notify the buyer if contractor needs to extend due to time of the year. It also says that if the septic system reveals a "failed system under Title V" and neither us nor the Seller are willing to undertake and pay for upgrading the system, we can void the contract.

    My main question is...have we covered all of our bases in regard to the septic inspection? My concern was that we are not employing our own inspector. However, my understanding is that 1) MA requires the seller to do this, 2) they will be inspecting to ensure that the system is fully functioning, has no leaks, and is currently operable, and 3) any inspector we hired would also be inspecting based on Title 5 requirements. We are also able to walk away if the seller is not able to get an inspection done or if the system is found to not be operating properly.

    submitted by /u/figocosta9
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    Property dispute - Advice PLEASE!!??

    Posted: 06 Feb 2021 07:52 AM PST

    I've recently moved into a property and there were some really comfy sofas in the property, to which we agreed to let the property. We just received the keys today and they've changed the sofas out with really cheap/uncomfortable sofas. I've complained to the letting agent and he said there isn't anything we can do and has been really unhelpful/rude in this process.

    We feel we've been falsely advertised as we weren't told they would be replaced and this has honestly annoyed me so much.

    Do I have a leg to stand on with getting them replaced??

    This is U.K. btw.

    submitted by /u/Bengraham95
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