Real Estate: My agent posted the house I want to buy on Instagram |
- My agent posted the house I want to buy on Instagram
- It's official. I hate everything in my price range.
- Seller not moved out of house at closing time - what to do?
- I hope these Opendoor assholes go bankrupt.
- is this normal?
- People who’ve successfully purchased a house lately: do you keep your Zillow/Redfin/Realtor search updates active for fun?
- Husband (co-applicant) lost job after our conditional approval.
- Condo Delinquencies Are Preventing Me From Selling
- What does the urban housing market look like at the end of covid?
- Fiance Gift Cash
- Home Seller Anxiety
- Story time
- Low Appraisal
- How do you run a nation-wide property search when most realtors are only licensed in one state only?
- What to do next?
- House with Leased Solar - Where is the common ground?
- Should I walk or buy? Old house with plumbing issues
- Any negatives to buying an income restricted (affordable) condo besides limited resale value?
- Offer Accepted, Except...
- Listing Agent Weirdness and No Contact
- Overwhelmed with clear to close
- License Renewal - California
- I am the bad guy in this market - AMA or just vent at me
- After 7 offers denied, we are finally under contract!
- Is getting a driveway extended / carport built worth it for home value?
| My agent posted the house I want to buy on Instagram Posted: 14 May 2021 04:26 AM PDT I am a first time homebuyer and the town I live in has a hot market, so I am working with a real estate agent. Yesterday, we toured a house and I really liked it, so I told my agent I want to make an offer. Later that day, I was on her Instagram page and I saw she posted that house as her Instagram story with multiple videos inside the house. I was weirded out because she posted this after I told her I want to make an offer. I'm not sure if this is common practice, but I definitely felt like she wouldn't do that unless my offer wasn't important to her. Additionally, when I asked her how many other offers the seller had on the table, she told me her partner's client was planning on making an offer too. I know she works for a pretty small office, so it's not unfathomable that another person would be interested, but I do feel a bit put off that she would advertise something after I told her I want to compete for it. Is this normal, or is it a sign she isn't taking me seriously as a client? EDIT: My agent is representing me (the buyer). [link] [comments] |
| It's official. I hate everything in my price range. Posted: 13 May 2021 05:09 PM PDT A month ago there were still a few houses in my price range (under $650k final offer) that, while not perfect, did check enough boxes to make up for the flaws. I came to terms with not being able to afford my dream house and having a longer commute to my job, and was willing to settle for "just slightly better than my condo," even though even the smallest single family homes would increase my monthly mortgage payment two-fold. Unfortunately, despite offering 10% over-asking, 20% down on a conventional loan with an underwritten pre-approval, waiving contingencies and offering a flexible closing date, I did not win any bids. A month ago, I decided to take a break to focus on my sister's wedding. My mom is my agent, and I didn't want to take attention away from my sister in the month leading up to her big day. I didn't think a month would make a big difference BUT HERE WE ARE. I officially hate everything in my price range. As much as I hate my HOA right now, nothing I see is worth spending twice as much as I'm spending on my current mortgage. I'm done. Anyone else giving up right about now? What caused you to throw in the towel? [link] [comments] |
| Seller not moved out of house at closing time - what to do? Posted: 14 May 2021 06:16 AM PDT We showed up for our closing this morning at 9am. The sellers never communicated this to us, but they thought it was at 12pm (they and their realtor have been bad communicators throughout this process). Either way, the moving truck hasn't shown up yet and I'm concerned they're not going to be able to get everything out of the house today. Who moves out on the same morning they're closing? Crazy. All that being said, what potential recourse do I have, if any? Can I use my wasted time as an excuse to get more money? What happens if it's 5pm and they still aren't moved out, or our closing company and lawyer can't make a time this afternoon to do the closing? What is the house isn't clean? Let me know what I should do. [link] [comments] |
| I hope these Opendoor assholes go bankrupt. Posted: 13 May 2021 02:01 PM PDT Seriously. I know links aren't allowed generally, but hopefully this is an exception. https://www.redfin.com/CA/Canoga-Park/6841-Hanna-Ave-91303/home/3094115 This may not make sense to people not from SoCal, but to have the balls to ask $936k for a house in Canoga Park? I mean, seriously, this is not even "good" Canoga Park. They apparently bought it in for $859,500 in March (way over the top of March market for that area generally) and put it back up for sale 20 days later (with scratched laminate flooring, no less) for $936,000 20 days later. Two price cuts later and we're at $920,000. At least fix the landscaping, you fucks and don't just mow the foot-tall weeds (See Street View). Fuck these assholes, I hope they lose money on this house and every house they sell. /Rant over. [link] [comments] |
| Posted: 14 May 2021 06:34 AM PDT is it normal for large building companies to not price out homes to be built because of what's going on with the cost of lumber? i'm not talking about a building company who has a crew of four and builds a few homes every year - we're talking about a highly reputable building company that employees thousands of people and builds hundreds of homes in the area a year, whether it be a new build or tearing down an older house to erect another house. we've come into a situation where we've been sitting around, twiddling our thumbs and passing up on other opportunities to see what this builder is going to do with a plot of land they bought 9 months ago and still have no answers. we do know they're putting three houses on this lot...know what model homes are going to be placed there...but no answers regarding pricing of any of them. again, in the meantime, we're just sort of sitting and waiting. is this normal? is this something agents are seeing happening with builders where they won't price something out (yet) because of the increase in lumber prices? thanks so much! [link] [comments] |
| Posted: 14 May 2021 02:36 AM PDT Or did you shut that shit down as soon as you closed? I can appreciate both stances so I'm curious about what people are doing. [link] [comments] |
| Husband (co-applicant) lost job after our conditional approval. Posted: 14 May 2021 02:54 AM PDT As title says, my husband unexpectedly lost his job and we're three weeks til closing. Our conditional approval states that we can close upon verification of my employment (husband's VOE isn't listed) even though his income was listed in our mortgage application as he is the co-applicant. We called our loan officer as soon as we got the news and asked if we're in danger of losing the house and the officer provided a response of "don't worry, I think we're only looking at your income (mine) and your employment for the loan" after a cursory look at our application. But why would that be? Was my husband's income never factored in? Is it because I'm the primary applicant and my husband is co-applicant? I'm the breadwinner in our relationship and my annual income alone is roughly half our loan amount, so perhaps they aren't concerned because the amount we're borrowing compared to my income isn't that high? We can definitely afford our mortgage on my income alone — the monthly mortgage amount plus taxes and homeowners insurance is just below 20 percent of my income and our revolving debt only includes student loans that will roughly be 8-10 percent of my income now that husband is jobless. I can't help but feel nervous despite my loan officer's response/reassurance. Has anyone been through this before? ☹️ [link] [comments] |
| Condo Delinquencies Are Preventing Me From Selling Posted: 13 May 2021 08:06 PM PDT I have a contract to sell my condo and the buyer's lender cannot finance the loan because our delinquency rate of the condo association is above 15%. The bank is using Freddie Mac guidelines. In other words, more than 15% of my neighbors are deadbeats. And due to their inability to pay their HOA dues on time, banks will not allow financing of units within that development. As a result, I cannot sell my unit. I've seen the financial statements of the condo association we are healthy financially. There are plenty of cash reserves. The development is extremely nice and not dilapidated. Does anyone have any suggestions on what can be done to remedy the issue? [link] [comments] |
| What does the urban housing market look like at the end of covid? Posted: 14 May 2021 06:08 AM PDT Bit of an ooen-ended qustion, but what do you think happens to the urban housing market at the end of covid? New restaurants, new bars, concerts return, and people required to return to work. Does the suburban move continue? Do urban housing prices increase? Do we see a bit of a balance between the two? Discuss. [link] [comments] |
| Posted: 14 May 2021 07:12 AM PDT My fiance gifted me cash to use for the closing costs and appraisal gap. Underwriting has asked us to fill out a gift letter. We did that but the only issue is we both have separate billing addresses. We do have the rental agreement from our shared address, which is different than our billing addresses. We included that with the gift letter and her account info for the transaction. Will the separate addresses be an issue, or is underwriting just trying to check off all their boxes? [link] [comments] |
| Posted: 13 May 2021 06:41 PM PDT Preparing to list my house and feeling really anxious. Mainly about getting everything done and how things will go. Finding little things here and there that may devalue home in eyes of buyer but they're not mandatory to fix or change. As well as pangs of being attached to my house and sad to leave it. For financial reasons I have to sell so not selling is not an option. Overall I am feeling a bit off kilter / overwhelmed. Just wondering if any sellers went through anxiety too and how you dealt with it. Edit: Thank you so much for all the thoughtful comments thus far. It actually really helps to hear others stories and words of wisdom. ☺️ [link] [comments] |
| Posted: 13 May 2021 02:41 PM PDT I'm the seller. Small Texas town, DFW(ish). 3/2/2 1,250 sq ft. We list for $225,000. House is on the market 3 days we get 7 offers, shut it down take the highest (245). We are worried about the appraisal coming in low so we ask the buyer to sign a partial waiver in which they are obligated to pay the asking price even if the appraisal is lower. They agree. After tons of negotiation involving me bending over backwards and agreeing to replace the entire roof along with other little nitpicks that they had about the house we get into contract. So… Appraisal time, comes back at $225,000. They think that they will pay 225 right? Apparently not, my agent informs me that the contract states that if the appraisal is 225 or higher they are required to pay their full offer of 245. So they are freaking out. I am told that they are trying to contact the appraiser to get him to reconsider his findings, is that even legal? Anyways, Here we are in a stalemate and I am not budging because I excepted these SOBs offer because it was the highest and now they're trying to wiggle their way out of paying what they offered and expect me to come down [link] [comments] |
| Posted: 14 May 2021 09:52 AM PDT How often do challenges to appraisals work? I went with a national lender for the house I'm under contract for. $550k purchase price $85k appraisal gap $465k appraisal It seems like they went out of their way to get an appraisal that low. There are multiple comps from the last month within less than a mile of my house-to-be for roughly the same square footage and house condition for $600k+. But instead the 3 houses chosen for the comps were: 1) same neighborhood but went under contract in 2020 2) 4 miles away and uncomfortably close to a major highway 3) 4 miles away in a completely different, less desirable city and it's not even a 2 story house like ours We can afford to take the hit of the low appraisal but we're hoping our lender will be sympathetic to the new comps we've provided. [link] [comments] |
| How do you run a nation-wide property search when most realtors are only licensed in one state only? Posted: 14 May 2021 09:37 AM PDT I'm trying to run a 50-state-wide property search without having to call 50 different realtors and have 50 lenders check my credit 50 times. Anyway I can see all the multi-family properties in the country that would accept an FHA? In my current market (Vegas) an FHA is basically used toilet paper. [link] [comments] |
| Posted: 14 May 2021 09:37 AM PDT Hello! So i am making this post because I need some advice on what to do next as far as real estate goes. I just purchased my own house which i will be living in and renting out 2 rooms which will cover my mortgage and utilities. That was my goal with the house so I am glad I was able to do that. Now I am trying to think of the best next step for me. I want to purchase more real estate such as apartment complexes or something along those lines. What's my best course of action in my scenario? Also, I am 21 and have a pretty good job with a high salary for where I live. Hope that helps. Thanks in advance! [link] [comments] |
| House with Leased Solar - Where is the common ground? Posted: 14 May 2021 03:26 AM PDT Hi gang, Recently viewed a house and it was 95% of what we had on our wishlist. After looking/bidding for 12 months we decided this is our all or nothing. Home is only 13 years old (most homes in our neighborhood are 70+ years old) and had solar. We were told by the selling agent that the solar equipment was paid in full and we intended to offer 50k (25%) over asking. We found out through the disclosures that the solar is definitely not owned. It's a PPA that they only setup two months ago. That being said, the purchase price to own can't be activated until year 5 and would cost 40k. In the first 5 years, the contract will adjust at 2.9% annually. Since it's a new install, I don't even know if it will cover the cost of power consumption since all their numbers are estimates. I've scoured this sub and others about the predatory nature of these solar companies and it seems like it is general opinion to walk away, but if you truly love the home to deal with the shitty terms and negotiate something with the seller. Knowing that we love this home and location, where is the middle ground for both parties to meet on this? I don't want to weaken our bid and lose a seat at the table, but I also don't want to pay 100% for the seller's poor decisions. What is a firm compromise? I don't think the seller will pay off the equipment with the sale of the home. Is asking for 20k agreement too much considering our initial offer was 25% over asking? Appreciate the feedback in advance. [link] [comments] |
| Should I walk or buy? Old house with plumbing issues Posted: 14 May 2021 05:35 AM PDT The house was built in the 50s and we're within the first 10 days of escrow doing inspections. This is our first house and we're a new family with a baby. All of the inspections came out clean except for the sewer scope. The plumbing inspector says that there are multiple roots coming into the clay pipes, asbestos, and a belly. He says the pipes in the front yard need to be completely replaced and estimated 10k. We really like this house and it offers everything we want. In this market no one is taking our offers even when they are 30k over asking price. These sellers decided to take ours even tho they had a much higher offer because they connected with us from our letter and picture. If we don't take this house we most likely won't get another one for a long time with how everything is. We've requested that they fix the issue but I doubt they will. Is there a chance that if we take it and fix it then decide to sell it in the future we might make our money back? Should we walk and continue renting in crappy apartments or should we take it and deal with the issue? TIA [link] [comments] |
| Any negatives to buying an income restricted (affordable) condo besides limited resale value? Posted: 14 May 2021 09:02 AM PDT I can qualify to buy an income restricted (affordable) condo in my town and it would save me a ton of money every month with a very low payment, low HOA and taxes. I know there will be limits in resale value- condos are kind of limited anyway in value esp small ones like this - any downside to buying this? Seems like a nice community, well maintained (it is partially affordable and partially not). I should add that the neighborhood only has a small street of condos which I would buy - they are around $185-200,000 condos. The rest of it is single family homes that seems to be about $350-$500,000 homes. [link] [comments] |
| Posted: 14 May 2021 08:49 AM PDT Got our offer accepted for a house we want. The seller will need a 29 day rent back. We asked for a larger deposit ($4500) to be held. But we're wondering, has anyone encountered any sellers taking advantage of the renters moratorium and refusing to leave after the rent back? Location: CA. Edit: Is it possible to add an addendum into the contract to ensure they won't be able to use the moratorium? [link] [comments] |
| Listing Agent Weirdness and No Contact Posted: 14 May 2021 08:43 AM PDT Hi, I'm trying to buy a home in Maryland, and had this really unusual experience. On Monday this week I put in a relatively competitive offer for a home I liked, and on Tuesday evening the listing agent reached out to my agent to ask to speak to my lender. A few hour later, when my lender called the listing agent there was no response. Over the past few days, neither my lender nor agent was able to get a hold of the listing agent, with calls going straight to voicemail. What made this particularly weird was that nobody at the agency is taking our calls either. Also, despite offers being due Monday the house is still not under contract, which is really strange in this market. At this point I'm going to be looking at other homes, but I would still love if this offer was accepted. Overall this just struck me as particularly weird. Does anyone have a possible explanation or similar experience? [link] [comments] |
| Overwhelmed with clear to close Posted: 14 May 2021 08:29 AM PDT I'm so overwhelmed with our underwriter! My file was selected for QC review and during the review a judgement came up that was 7 years old 2,000$ I had no knowledge of it because we moved to another state and my old job never reached out to me about it. It's never popped up in any of my credit pulls and even when the lender started my loan it didn't show up. However the QC pulled from another system and this was the only thing that came up. The hospital is currently closed down they rebuild and another company is running it. I called all over trying to find out who had the collection, mind you I didn't find out about this until Friday around 4pm and of course the weekends everything is closed. So Monday I called and made some major moves found the law firm and was allowed to pay it. Over 7 years the interest grew 608.48 total now 2608.48 paid it in full hassled the law firm until I got the paid in full bill as requested sent it over only to say it's not going to work because it's a different amount. What's next I email the loan processor and she says unfortunately we can't move forward until I get something saying it's the same bill. 😩😩 whats next we are scheduled to close on the 20th but now it's looking like it's not going to happen. [link] [comments] |
| Posted: 14 May 2021 08:14 AM PDT Hello. I need to renew my real estate salesperson license in CA. Can anyone recommend a reputable company to do it through online? Thank you. [link] [comments] |
| I am the bad guy in this market - AMA or just vent at me Posted: 14 May 2021 08:08 AM PDT My wife and I closed on a house recently and I think our experience represents an extreme outlier in economic privilege but may also be common enough that it can represent who is out there snapping up these houses. Background: we live in a higher cost of living area but not NY/SF - so think Chicago/DC/Denver. We've been renting but recently decided that we're going to be here long enough to buy a house. We started looking around on Zillow for a couple months to get a sense of what's out there and went to three open houses. Then something approximating our ideal house was listed - an old house that's been well maintained and updated inside with a nice lawn. We emailed a buyer's agent on Thursday, toured it Friday, and put in our first and only offer on Saturday. This is a $1.5 million house and my parents taking an interest in helping us into a (much) nicer house than we could otherwise afford is the only reason we got it. But to beat out everyone else we offered:
The other main offer we beat out waived contingencies as well (they did do a pre-inspection) but was going to finance about $500k. They claimed they were going to put $1 million down on it but only put up $50,000 in earnest money. We both had escalators (which is how I got to see their offer) and they were willing to go higher on price but we looked like the more solid buyer so we won out. We also wrote a letter about how much we loved the house and the sellers mentioned that made a difference. The next step is to take out a $500,000 mortgage at our leisure. We'll send that to my parents and the $1 million difference is a gift from them. Anyway, that's our ridiculous story about how we became first time home buyers. We have other friends who've been trying to buy in this market and we know how brutal it is for them. They've gotten beat out on 6-7 offers in further out, less desirable locations. We would 100% be in their shoes if it weren't for my parents. I've enjoyed lurking on this subreddit and wanted to add my perspective to the mix of stories. [link] [comments] |
| After 7 offers denied, we are finally under contract! Posted: 13 May 2021 12:05 PM PDT I just wanted to give some hope out there to other buyers who may be coming in with less than desirable circumstances and trying to compete in this market. I hope to give some insight on how we changed our approach and how this worked out for us. When we first started seriously house hunting about a month ago, we were going for homes that just popped up on the market. The issue with this is that so were all the other buyers. For every offer that was declined, we moved onto the next new house along with 30+ other buyers. Every open house we went to had a line to get in. We were shopping with a VA loan, which I know is frowned upon but I wanted to use the benefits I earned. We came in over ask on every offer between 20-50k, provided appraisal gaps and had wording that we wouldn't ask the seller to pay for anything in the inspection that was under 3k. Nothing was working despite increasing our budget after each denial. So, I changed our strategy. Instead of looking for new homes coming on the market, I sorted redfin (my preferred way of finding homes) by longest on the market. Despite whoever kept arguing with me on Reddit yesterday, at least in my market, there are plenty of homes sitting. They could be sitting for many reasons, but the point is they are there. Once we started viewing those, we put in an offer just over the list price and it was accepted. No multiple offer debacle, no waiving anything crazy, and they happily took my VA loan. Don't give up, it will happen! [link] [comments] |
| Is getting a driveway extended / carport built worth it for home value? Posted: 14 May 2021 07:34 AM PDT Hi all, First time posting here and I'm just looking for some advice. I bought a home in Austin, TX about 2 years ago when I was single. I mostly bought it because I wanted a back yard for my dog and to build equity so I found a nice 1500 square foot house with a quarter acre corner lot about 12 minutes north of downtown. I love it. My fiance who I started dating shortly after buying is moving in with me soon, and we're actually not looking to live here forever. We want to get a few more years (maybe 3-4) of use out of the house, then move to another state and rent the home out at that point. I don't plan on selling in the next 10 years or so unless I absolutely had to. My question is this: My fiance currently lives in an apartment complex with a parking garage and car chargers. She drives a model 3 that she bought around the time we met. My house only has a single car drive and no cover. There's enough room to convert the driveway to a two-car driveway (with a 1-car entrance still) that wraps up to the side of my house where I actually have a very convenient side entrance door. I'm looking at the following expenses for this:
So I'm looking at $14600 to extend the driveway and install a carport which will increase the functionality of the home quite a bit. I could leave the garbage / recycling / compost bins under cover, and roll them out to the street down my driveway instead of through the grass like I do now. We could have her (I guess our? We are expecting a baby this year) Tesla protected from the elements. Also, street parking is super sketch in my neighborhood. Sometimes it's wide open but sometimes I get home and there's no spots available. Drives me crazy but it is what it is. Most homes have this carport situation in my neighborhood. The people who bought this house in 2010 (this is a 40's home) remodeled the garage into a kitchen though. I kinda hate that they did that but it's where I'm at. I'm at about 45% equity in the home, and we are both pretty high earners so I'm not breaking the bank here, but I am curious if it's a good investment on a house we only plan on living in for about 3-4 more years. My questions is: Is this a good investment? Will my house be a bit more valuable (maybe not dollar for dollar, but a bit?) because of this? [link] [comments] |
| You are subscribed to email updates from HomeOwners & Investors. To stop receiving these emails, you may unsubscribe now. | Email delivery powered by Google |
| Google, 1600 Amphitheatre Parkway, Mountain View, CA 94043, United States | |
No comments:
Post a Comment