Real Estate: Just happened. Agent safety. |
- Just happened. Agent safety.
- [Vent] If I see one more post focusing on asking price instead of comps i will lose it
- Feel like we won the lottery in this crazy market (Chicagoland suburbs, IL)
- 3 visits, how to maximize?
- The total number of active listings this week is down a record 54% from the same week a year ago, per Realtor.com
- Who are you, Successful Buyers???
- What is the scam???
- Buyer agents, how are y’all doing?
- Need help with negotiation
- Realtor commission as part of price negotiation
- That Suburban Home Buyer Could Be a Foreign Government - Overseas investors turn to America’s single-family rentals
- Annual Escrow disclosure shows additional Hazard insurance charges
- Leaving washer and dryer when selling.
- We're considering building a home at a base $245k how much did you pay in upgrades and which upgrades did you choose??
- Advice for buying privately from a seller?
- If you could spend around $1,000,000 on a house and live anywhere in the US where would it be?
- [NJ] For those who buy in 2018, How much equity did your house gain till now?
- Deed Problems In Florida
- Ok guys I'm in a pickle. Apparently I haven't been paying my water bill for the last year ��. Or more accurately, my apartment complex hasn't been billing me. I have a few questions.
- WTF? Seller being superrr slow
- [Rant] Does anyone actually fall for these shenanigans? Seller raises listing price and drops back to original listing price to trigger Redfin price drop alert
- Viable Freelance Career?
- Accepted offer on a house but doesn't feel real yet (Milwaukee area, WI)
- Thanks to all the people who gave advice!!
| Posted: 13 Apr 2021 06:49 AM PDT Just got done meeting with police and my broker. Got a call from a potential buyer about seeing a camp have listed. Nice little cabin on 5 acres surrounded by state land, located in the middle of nowhere. Cell coverage is non-existent and there is zero traffic on the dirt road except for maybe a 4 wheeler once a day. I drive out to this road to meet the buyer for the showing. I pull up and the first thing I notice is there are 2 guys when I was expecting one. No big deal. Happens all the time, and we're still within COVID restrictions for number of people. Introductions are made and I unlock the gate and we drive down the road the 5+ miles to the camp. Everything seems normal, but then I notice something odd. The buyer said he was coming up from a nearby city, but, the license plates in their vehicle are out of state. Again, nothing earth shattering, but I noticed it. Unfortunately I can't remember the numbers on the plates. We get to the camp, and I unlock the second gate and pull in to the camp. I get out of my car and so do they, and that's when things go south. The passenger gets out of their car with a baseball bat and the driver with a crowbar. They tell me to toss them the camp keys, my car keys, my phone, and my wallet, and to go stand by the swing in the yard. Now, this is a camp I've been to several times and have had several issues. Trees have fallen and blocked the road. The road has been partially washed out while I was at the camp forcing me to walk out. And bears have broken into the camp before, and I've seen them and their sign in the yard. I have learned to come prepared for emergencies at this place. I now bring a chainsaw, shovel, food, blankets, and bear spray. I also bring along a 12 gauge shotgun as a last resort for bears. I reach into the car and grab the bear spray and pull the pin. For those of you unfamiliar, imagine a small fire extinguisher full of concentrated pepper spray. The good news is I have the wind at my back. Being bald has its benefits as I can feel the breeze on the back of my head. I use some choice words telling them to get out of there and what will happen if the don't and hit the passenger with a short burst of the spray. He starts screaming about the spray until he starts coughing because he can't breathe. I turn my attention to the driver and just say "GO!". This whole time I'm working my way to the other side of the car to get it between me and them, and tonight to the door where the gun is. The driver decides it isn't worth it. I've got bear spray, and I forgot to mention, I'm about twice his size at 6'6" and 300 lbs. He shoves the passenger into the car, climbs in swearing up a storm, and peels out of the camp and headed back down the road. Fortunately I left the gate in the driveway open so they could head down the road. Bad news is, the gate at the end of the road is locked, so, they can't get out and I'm stuck on this back road with them. I put the safety pin back into the bear spray, grab the shotgun out of the back seat, load it, and put it in the front seat, and proceed to drive farther back into the woods, locking the driveway gate behind me. The road leads up a little hill where I stop and walk out to a rock outcropping that overlooks a nearby lake. Usually this is in the tour as a selling point. This time it gets me 1 bar on my phone. I try to send a text "911" to my broker and to try to call 911 as well. Neither seems to be going through. I have about 20 minutes until those guys get to the gate,realize it's locked, and possibly get back to the camp. So, I drive farther back in and hide my car behind another camp farther down the road. And I wait. After about 30 minutes, with no sign nor sound of these two, I decide to chance driving out. So, I head back down the road. The gate to the camp driveway is still closed and locked, and no car. Keep driving down the road cautiously and get about 2/3 of the way down the road and meet a cop headed down the road. My text managed to get through and my broker called the police and sent them to come find me. Cop tells me they managed to break the lock on the gate, probably with the crowbar. We drive back up to the camp where I tell him everything that happened and he looks around a bit. We then drive back out and head to the station where my broker was waiting and we gave the police all the info we had on these people from texts and emails. Hopefully they were dumb enough to use their real name, phone and email address, but probably not. Best we can figure is that as the camp is listed as a hunting camp, they thought they might get some guns, as well as my phone, car, and wallet. The police put out a description of the guys and car figuring they had to stop somewhere for the passenger to try to rinse the bear spray out of his eyes. They also are planning to travel the road incase they decide to come back later and break into the camps along the road. So, lessons learned or reinforced? Always let someone know where you will be doing showings for the day. Especially if they are in the middle of nowhere. Have a system in place to get help. We text "911" if need be. If an agent is a little nervous about a showing beforehand, our broker will call 15 minutes in. If we say we want Chinese for lunch, that's code for send the cops. If we don't answer, or call right back, she sends the cops. Have a plan to get yourself out of harms way. I didn't really have this plan before, but I will from now on. I was lucky that I had the spray and was familiar with the area. The bear spray now stays in the car. I will also try to make sure that from now on I can put my car between the clients and myself at first. I'll keep paperwork accessible from either side of the car, but walk around the car to get it if need be. That simple barrier could be important. I don't normally carry a gun at work. I only did so due to high bear activity in this area. I have done so in the past to do a little hunting before or after a showing. I have no plans to change that at this time. Keep track of all client information. From now on I'll be noting license plate numbers. I may even get a dash cam for this reason. The good news is I'm safe and they didn't get anything more than some temporary difficulty breathing for their trouble. Stay safe everyone. [link] [comments] |
| [Vent] If I see one more post focusing on asking price instead of comps i will lose it Posted: 13 Apr 2021 12:53 AM PDT we get it, the market sucks for buyers right now. but stop looking at asking price and start looking at comps. asking prices are by default going to be low in this market. i don't care if you offered 100k over asking price if it is still less than recent comps then you intentionally screwed yourself. also if you live in an "international market" like california you are competiting with investors around the globe. take that into account. if you can't afford properties looking at comps (instead of asking price) then you need to revisit your strategy. /rant [link] [comments] |
| Feel like we won the lottery in this crazy market (Chicagoland suburbs, IL) Posted: 13 Apr 2021 07:23 AM PDT We're feeling extremely lucky right now. We've been on the house hunt since February as first-time home buyers. We made several offers with no luck. We were either the less attractive offer (only putting 5% down) or we were just not the highest offer. Almost every house we put an offer on was a multiple (10-20 offers) situation. We found a house we loved near the end of March. The neighborhood was the one my fiance and I both grew up in, big enough to start a family, and needed little to no work done (painting, maybe new carpet upstairs down the line). The house was listed at 450 so we put an offer in at 475 (5% down) with no inspection, as is, and an appraisal addendum (if the appraisal came in at 450 we would need to cover the difference). We also put a 3-hour acceptance window (or whatever you would call it) which personally I think really helped us. We just had the appraisal come back and it appraised at our offer value of 475! This post isn't meant to be a brag or anything like that, but hopefully a sign of hope for some of the discouraged first-time home buyers out there. I'm not going to say definitely buy right now because we sure as hell were considering just waiting it out until the fall or even later, but we kept at it, and are very happy with what we found. Wishing the rest of you buyers good luck! [link] [comments] |
| Posted: 13 Apr 2021 08:43 AM PDT We got the house woooo! Any tips on how to best use my 3 visits before closing apart from the obvious 'measure the windows for curtains and check that the appliances work' .. anything you wish you did that would save time upon moving in etc? [link] [comments] |
| Posted: 13 Apr 2021 09:09 AM PDT Demand is crazy high and inventory is crazy low. When will supply pick back up? [link] [comments] |
| Who are you, Successful Buyers??? Posted: 12 Apr 2021 03:57 PM PDT Apologies in advance for this rant. Just lost a bid and I need to vent. We're first time homebuyers who've just lost our third bid since we started looking in January. We've lost bids of $53k over asking, $131k over asking, and $71k over asking by $30k, $7k, and $30k, respectively, and we don't even know what the true escalation caps were beyond those margins. We live in DC and seem to keep losing to people who are spending way too much money in middle tier neighborhoods (Hyattsville and Wheaton for those familiar), and I just can't help but wonder: Who the fuck are you people? Why are you spending so much money in these areas when you can afford to be competitor elsewhere? For those of you who have won bids in the past three to four months, I just want to know more about what you do for a living, what type of equity you're working with, and why you're willing to pay so much for houses when you could probably afford better and can afford to wait. [link] [comments] |
| Posted: 13 Apr 2021 08:40 AM PDT My wife has a buyer who clearly is running some kind of scam. They are providing extremely exaggerated false proof of funds, which I was able to locate copies on good images, and had already made one offer before it was identified. They are trying to buy multiple homes for their "posse". The offer they did make us falling through because they didn't make the escrow payment on time, but what is the scam they're pulling? This is a couple living in basically a trailer park and have provided proof of funds of 54mil and now 15mil. [link] [comments] |
| Buyer agents, how are y’all doing? Posted: 12 Apr 2021 06:33 PM PDT We're first time buyers in the SF east bay and have lost 10 offers so far this year. We submitted another one yesterday (no contingencies, 20% down, well above listing and above comps). Offers were due this morning and haven't heard anything from sellers so we can probably chalk this one up as another loss. Every loss has been gut wrenching, but it's starting to hurt less as we grow accustomed to losing. I also feel bad for our agent as we keep putting in great offers but no cigar so far. We've seen a ton of houses together, reviewed countless disclosures and put in almost a dozen offers. Every loss reminds me that it's not only a loss for us, but also for our agent who has put in lots of their effort, time and travel. Anyways...buyer agents, just want to say thank you and see how you are doing. [link] [comments] |
| Posted: 13 Apr 2021 07:51 AM PDT Let's say home is listed at X dollars where X is over 1 million. I put in an offer at 60,000 over listing price but didn't waive any contingencies. Negotiations went back and forth for a week over appraisal contingency i.e. sellers insisted on waiving it but I stood firm on keeping it. Eventually I proposed appraisal floor of 25,000 over list i.e. if house appraises (X+25,000), we continue ahead and if house doesn't appraise that much, I can potentially walk away or negotiate with seller. Seller countered with appraisal floor of (X+10,000) but I rejected that and deal fell apart. During the negotiations, we got a strong hint that we are the highest bidders. Seller moved on to next buyer but after a week, I assume that things didn't work out with that buyer because they came back asking if I am still interested and that they agree to our original proposal. I was hoping someone can suggest what should be best way going forward. Options 2) Can I propose a lower offer price but waive appraisal contingency? [link] [comments] |
| Realtor commission as part of price negotiation Posted: 13 Apr 2021 09:38 AM PDT We recently put an offer in on a home. $725k. The seller's agent came back with a counter offer of $740k, but said the buyer's agent commission on that would be 2.25%. However, if we did $750k, she'd raise our agent's commission to 3%. So basically, she was trying to get our agent to get us to pay more. Of course our agent said his fiduciary responsibility is to us and that he's not here to make us pay more in order to increase his commission. She didn't seem to understand what the problem was and why he didn't push us to the higher number. Her attitude seemed to be "We'll both make more if they spend more. What's the problem." When she found out we knew about this convo she asked why he had told us. It's all moot now. The house is under contract with someone else. But I am just curious...I assume this isn't normal but have others heard of this? Our agent never has. [link] [comments] |
| Posted: 13 Apr 2021 08:52 AM PDT Could this be the driving force of the chaos in the market now? [link] [comments] |
| Annual Escrow disclosure shows additional Hazard insurance charges Posted: 13 Apr 2021 06:54 AM PDT I recently renewed my homeowners insurance, and the bank that services my mortgage sent me an annual escrow account disclosure statement. In the statement they added an unnecessary line item for hazard insurance for an extra $1k per year. We already have all the insurance we need in our homeowners policy, and did not need additional hazard insurance when we got the loan. I also got a warning letter from them saying they haven't yet received my new insurance policy and will try to charge me $2200 per year for new insurance. I already filled out their online form to update with my new insurance details. Could someone offer their experience / advice with this? I'm not sure what's going and what should I do. Edit: My house does not need ADDITIONAL* hazard insurance beyond what my policy already covers- its not in a flood zone and there are no other hazards in my area. [link] [comments] |
| Leaving washer and dryer when selling. Posted: 12 Apr 2021 02:40 PM PDT I closed on my house this morning and while waiting in the office my realtor told me the new owner was displeased that the washers and dryer were still there and want them gone. On my selling agreement I stated I was leaving all appliances. I don't have the means to move these now. I had plenty of time and resources to move them prior but not I don't and I'm pretty frustrated. Do I legally have to move them? I mean she already paid me the deal is done. [link] [comments] |
| Posted: 13 Apr 2021 06:26 AM PDT |
| Advice for buying privately from a seller? Posted: 13 Apr 2021 09:43 AM PDT More houses are coming online in my area (rural Nova Scotia), and I know of three sellers in the past week who are advertising their properties privately, through word of mouth. If I were interested in proceeding with a purchase without getting a realtor involved, what do I need to do to protect myself? [link] [comments] |
| If you could spend around $1,000,000 on a house and live anywhere in the US where would it be? Posted: 12 Apr 2021 09:11 PM PDT I've got a remote job and have been looking for a place to buy where the prices aren't ridiculous. Trying to find somewhere that is a good place to raise a family, and is within 30 or so minutes of a decent sized city. Any suggestions would be appreciated. [link] [comments] |
| [NJ] For those who buy in 2018, How much equity did your house gain till now? Posted: 13 Apr 2021 09:32 AM PDT i know it makes no sense to dread on the past but just want to know, i could of bought a 2 fam in clifton for 370k to 415k Clifton [link] [comments] |
| Posted: 13 Apr 2021 09:31 AM PDT So there are seven people still listed on the property taxes. I filed a quitclaim deed from the one sister that is in control of the property. Do I need a quitclaim deed from them all in order to get their names off of the property. I am in Ocala, Fl. 34471. This is what is listed after the Quitclaim deed being filed what does this mean 7 PORTIONUND INT? ANy help would be appreciated in this matter. Thank you in advance. [link] [comments] |
| Posted: 13 Apr 2021 09:24 AM PDT These people are scam artists. For instance a late rent payment is 30% of the monthly rent! For me that would be 400 frickin bucks! So the water doesnt go through a water company. They also don't have it metered. So the entire building splits the bill. Now im a single person in a building with 12 apartments and a lot of them have entire families. My bill used to be around 120 a month! For water?! (This was before my current lease) My question is.... 1. Should I let them know they're not billing me? I feel a little moral dilemma.
-This is a large company complex. -I'm in Pennsylvania [link] [comments] |
| WTF? Seller being superrr slow Posted: 13 Apr 2021 09:15 AM PDT Went under contract on 3/27 with a 5/7 closing date . On a house that has been sitting on market 200 days with no offers. Just got through negotiations on inspection on Friday (we agreed to their counter on concessions of a 10k credit) Found out they refused to allow appraisal (already paid) to even be scheduled until THEY signed the addendum . They have had it since Friday and won't sign. I'm may be paranoid but I think they may not think the house will appraise at my offer price (it was listed on the high side of comps and I originally offered 10k below ask but they then stated they "had" another offer and do high and best) and trying to waste time so I'm so far in the process that I'll pay the gap . They know I was looking for a quick close . I'm only willing to pay a 2-3k of any gap. No one is living in the home ... it's owner plus a trustee due to her age . Any thoughts ? [link] [comments] |
| Posted: 13 Apr 2021 08:43 AM PDT House gets listed on 3/19 for $1.25M and offer review date of 3/26. Even in this market that house is overpriced - recent comps suggest $1.1M at most so offer review date blows by with no sale. They raise the price on 4/9 to $1.3M only to "drop" the price back to $1.25M yesterday - presumably so the Redfin digest email shows the is as a price drop listing. Question is - in a market like this where all buyers are watching listings like a hawk, does this tactic even work? Especially since the Redfin listing page clearly shows the timeline of this tactic. Are sellers in this case just greedy? Thought shady listing agent, but she seems pretty established locally and listed other houses in our neighborhood without shenanigans. But nonetheless, in today's market where all this data is super transparent, did sellers really think they could pull a fast one on buyers? [link] [comments] |
| Posted: 13 Apr 2021 08:42 AM PDT Hey current/former realtors I live in the GR Michigan area. Recently saw a job posting for a Creative Manager for a self-proclaimed successful real estate firm - someone to take pictures of listings, provide postings, and manage the staging of homes. I am looking for a career pivot, homes have always interested me and I love taking pics. Side note: I think the staging could be a decent plug for my recent addiction to estate sales :) I missed out on the actual position but think this could potentially be a lucrative, fun freelance position fueled by some savvy networking and a decent portfolio. Before I make moves to start it up, is this a marketable service? Please note I don't have a license so have no real insights into workload demands on agents. All advice welcome! [link] [comments] |
| Accepted offer on a house but doesn't feel real yet (Milwaukee area, WI) Posted: 13 Apr 2021 08:30 AM PDT First time buyer here, and I just got an accepted offer last week! It doesn't feel real yet, and I'm half worried something will happen make this fall through. This house is on my the street I grew up on, and had almost everything I was looking for. I've been looking since December and have bid on multiple houses but was never ever close to the top of the offers of any of the houses. I told my realtor that I WANT this house. I made an offer the day before it went live, sight unseen. 10% over asking (200k, offered 220k), 5% down payment, waived inspection, 15k appraisal gap, and offered post-occupancy for free for 2 months. I still can't believe they accepted it. I wonder if they had gone live, how many offers and what kind of offers they would have gotten. Wishing I could fast forward to the appraisal and the closing so I'll feel like everything is locked down! [link] [comments] |
| Thanks to all the people who gave advice!! Posted: 12 Apr 2021 09:01 PM PDT Thanks to all the advice I received on a recent post we are officially in contract for a house with an amazing broker! We couldn't be happier, so thank you so much to all those who have me advice. [link] [comments] |
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