Real Estate: Ready to sell house I just bought |
- Ready to sell house I just bought
- We just closed on our house this morning but the seller left their dog.
- “Cash buyer.” Uh huh.
- I live in Houston, TX. My real estate team has never heard of anyone getting a sewer inspection, thoughts?
- Was the “all cash” offer really a better deal?
- Preinspection didn't include roof or pool
- Selling home and I think my realtor left money on the table [CA]
- How I got a house... a success story.
- No recent landlord reference?
- Failed Buy Attempt, Trying Again: Use Same Realtor as First Time? (WA)
- Pros/cons of giving 24hr deadline to accept offer?
- I’m trying to get me sales agent license (NYC), just passed my final exam for my online course... they provider of the course is saying I need to find a sponsor broker first? If that’s the case isn’t that a bit backwards?
- We are finally in escrow! (SoCal) -in anot so common way... In today's market.
- Need Advice: Stuck Between a Rock and a Hard Place. (Outside Boston)
- Flood Risk Rating
- Best way to find off market homes?
- The Struggles of Closing, will we end up with the house of our dreams??
- Neighbor has an ugly utility trailer parked in his backyard which backs up right to my property’s entrance view. Options? [TX]
- New construction nightmare..
- This is a Mess :(
- Bored well, no filtration system
- Passing on a good house because of back yard view and sunlight
- Thinking in advance - selling but not buying immediately what to do with mail?
- People who have lost out on 10+ offers - Does it get easier?
| Ready to sell house I just bought Posted: 01 May 2021 07:16 AM PDT I closed on this house in February and moved in March. This house is a walking maintenance disaster. I no longer want to own this house or any house. I want to go back to renting an apartment. There is a major plumbing issue that needs to be addressed. This was not on the seller's disclosure. The plumbers said this had to have been an ongoing issue. What are my options? [link] [comments] |
| We just closed on our house this morning but the seller left their dog. Posted: 30 Apr 2021 07:47 PM PDT It's a friendly little pitty but the previous owners went MIA immediately after closing and I can't get in touch. I was thinking of getting a dog but seems unethical to take there dog, it was a much older couple so maybe they didn't know? Anyone does this mean I get to keep him? [link] [comments] |
| Posted: 30 Apr 2021 12:07 PM PDT My boss just asked me how the home search was going. I told her we offered $560k on a $530k home last week with 40k appraisal gap coverage, waived inspection remedy, and 45 day possession after close, and got beat by a cash buyer, after which our realtor asked us if we knew anyone who would finance us as cash buyers. Umm. No. No, I don't know anyone with that kind of money. My boss replied that this is what she and her husband did for her daughter last year. Cashed in everything they had, cash out refi on their house, etc. Daughter bought home in cash then went to refinance and was told by the bank that she needed to own the home for 6 months. Gulp. Yikes. This shit is NUTS. [link] [comments] |
| Posted: 01 May 2021 06:58 AM PDT The house that's going to be inspected is not on septic. That's what they told me, when I asked them. I didn't even know there was a difference as I'm a FTHB. I also asked the inspector about it, and he himself seemed thrown off by my question. It's and house. Over 40 yrs old. [link] [comments] |
| Was the “all cash” offer really a better deal? Posted: 01 May 2021 08:48 AM PDT Lost an offer to an all cash buyer a few months ago and house finally closed. Our offer was 675 (conventional loan with no appraisal/inspection contingency) and they went with all cash for 660. This house was under half of what we are pre-approved for. Sellers were not in any hurry to move and requested a delayed close (90 days) as well as a 2 week rent back. (Which we also included in our offer letter, that we would allow them to stay as long as they needed without payment). It seems like our offer was a better deal as the deal was not dependent on a fast close and we covered the major contingencies. I'm not sure what else we could have done to be the "better deal" as one would assume an extra 15 grand would be worth it. Am I missing something? [link] [comments] |
| Preinspection didn't include roof or pool Posted: 01 May 2021 07:09 AM PDT We're selling our 13 yr old TX home and moving to CO. Had the preinspection done on our TX home yesterday (realtor provided the contact) and the report mentions having a roofer check roof & a pool company to check the pool. It's the pool I'm mostly concerned about as the equip is nearing life expectancy. Should I have someone out or wait for the buyer's inspection? (Edited to clarify buyer seller.) [link] [comments] |
| Selling home and I think my realtor left money on the table [CA] Posted: 01 May 2021 09:55 AM PDT Firstly, I'm naive about real estate. I don't think my realtor got me the best offer for my home. We listed it and got a day one offer. My realtor said it was low and suggested we counter with a higher price, but still not at ask, with us splitting fees, saying it was a great counter offer. Buyer accepted counter but now I'm wondering if I'm leaving 10-15% or so on the table because the realtor wanted a quick close. Is there any way out of this deal? I've been pouring over the contract and there's a line where the seller was supposed to get me their loan application by Day 3 of acceptance, but they haven't done so and it's Day 10. At the end of the contract, it says that the seller can cancel if I don't receive this letter. Thoughts on canceling??? [link] [comments] |
| How I got a house... a success story. Posted: 01 May 2021 01:10 AM PDT Moved from the mid west to actual coast, in a rental 3 houses back from the beach. Got a career job and was stuck looking for a house in a market that was near impossible and nothing even close to top of my budget. A higher up in my department tells me of a house that his wife had cleaned out due to the owner passing. Asked my realtor as it wasn't on the market and she did some digging and found the realtor. Realtor was out of state, in the state we literally moved from. Went to other showings and no offers got accepted. My realtor finally got the keys and showed us before it was on the market. I fell in love. 3 bed 2 bath, .6 miles from the beach .3 from the bay, a garage, not in a flood zone, a HUGE lot thats almost unheard of here, and the best part is a HUGE fenced in backyard with a pre built garden and a beautiful live oak. Found out they wanted $299,000, offered 295,000 and they accepted. If it had gone on the market it would have easily gone over 330,000. I am absolutely obsessed with this house and I close next Friday. My story was such a fluke and I honestly never have luck like this. I'm just so excited. [link] [comments] |
| Posted: 01 May 2021 08:41 AM PDT This is a bit of a long post, sorry. We have been renting a house for the past 10 months and upon moving in, a lot of things were broken which we did not realize at the time and not to the obvious, such as the AC stopped working after a week- it turned out it was because a dog had chewed through the electrical wires outside a while ago. We do not have a dog, the owners do. They took 2 weeks to fix the AC and legally they had to do in within 48 hours as NV state law. There were also lots of other issues such as the garage door stopped working in the first week too. Anyway, the landlords were very bitter that we complained about these things and have proven they are very untrustworthy people. After looking them up online I also found out that they were taken to court 3 years ago for scamming elderly people. I also spoke to the previous tenant (who's mail i kept receiving and I found her on FB) and she had nothing but problems with them and broke her lease and just left without telling them. We don't particularly enjoy living here but thought about staying one more year because we should be in a position to then purchase our own home. So last week, the landlords were meant to give us our new lease. They said they needed 60 days notice if we wanted to stay or leave (trying to overrule NV law again as that states only 30 days). We only got sent the new lease via email yesterday, EXACTLY 60 days prior, so they were pretty much forcing us to make a decision there and then whether to stay or leave. They had said that everything in the lease would be the same as last year but after looking through it, it's about four pages longer and they added a lot of things on there to be able to fine us for which isn't normally in leases. In short, we are basically waiving away any and all of our rights. They also want us to put them as an additional insured on our renters insurance and I don't feel comfortable with that. More to the point, I know we aren't going to get the deposit money back so we were thinking about just moving out within the next two months before our lease ends. It's risky moving out immediately when it ends incase we don't find something else on time. We have nothing but excellent rental history for years prior to when this happened with our current landlords. So, I know if we want to go somewhere else, the realtor is going to ask when our contract ends and for landlord reference which obviously I do not want to give. Is there a way around this? My other ex landlords I know would be happy to do it (we've stayed in touch and have a good relationship) but I assume we need the most recent one too? We always paid our rent 2 to 4 weeks in advance and I actually have bank statements proving this too, As well as text from the current landlords saying that we are very good tenants (trying to get us to stay). I know they do not want us to leave but they are also trying to take advantage by this point. I apologize for any typos, I am using talk to text 😁 [link] [comments] |
| Failed Buy Attempt, Trying Again: Use Same Realtor as First Time? (WA) Posted: 01 May 2021 09:57 AM PDT I had been in the market as a first-time homebuyer for two months last fall, made 3 offers but none went through and I had to fall back to signing a lease at a new place, as my current lease was expiring and my landlady had a technicality to be able to not renew (even despite the eviction moratorium we had at the time). The realtor I'd gotten was pretty OK - I'm not sure what I'm supposed to expect from a realtor, really, but he was knowledgeable about the buying process, was able to get me into houses to look at, and translated my offers into legal paperwork. He learned eventually not to send me housing suggestions because I was refreshing zillow 30 times daily and sending him requests for showings within 10 minutes of the listing going up, usually. Anyways, at the end I had to Now it's six months later and my lease is turned over to month-to-month and I have the intention of jumping back into the housing fray. Was discussing my plan with my parents and they said, "Be sure you don't use the same realtor again, you burnt him the first time so he won't work hard for you the second time around." Do you think there's any truth in this? I could see the opposite being just as true, that is, maybe he'll be extra enthusiastic about getting another shot at the one that got away. Should I use him again or go looking for a different realtor (of which there is certainly no shortage of right now)? Again, I didn't think he was real estate Jesus, but I didn't have any specific problems with him either. [link] [comments] |
| Pros/cons of giving 24hr deadline to accept offer? Posted: 01 May 2021 06:02 AM PDT Pros I can think of: 1. Ability to make offers on multiple houses sequentially (if offer declined can move on to next house) 2. Less competition from others (before others have chance to submit offers) 3. Can always resubmit another offer even if first one declined Cons: 1. Need a high bar for owner to accept What do you guys think? Generally is it better to give deadline or not? Seems to me it is... [link] [comments] |
| Posted: 01 May 2021 09:25 AM PDT |
| We are finally in escrow! (SoCal) -in anot so common way... In today's market. Posted: 01 May 2021 10:51 AM PDT I've been here since noticing the insaneness of this market... Looking for help. So I figured I can share our success story in this market. My husband and I have been waiting to save for a decent down payment and that happened to be December 2020. However, although we thought we had a decent amount to out down.... We found out we weren't very competitive very early on. We first started with an agent that was recommended by our LO. The agent seemed like a newbie to us .. but again we weren't aware of how hot the market was. we submitted about 6 competitive offers (based on her recommendation) and never received a counter. That when I started researching and realized how bad things really were. we weren't removing any contingencies and putting 5% down (although we have more but wanted to keep some for improvements) Anyway, I'd bring this up to our agent and she kinda dismissed me. Saying no, removing any contingencies is not common and 5% is enough... We don't need to increase. That's when I realized this market was as much of a surprise to her as it was to us. But difference was... I was researching and playing close attention. The final straw for us is when she made a suggestion to submit and offer on a house that we know we could've done more but she suggested against that... And we didn't even get a counter. So we moved on to another agent. The second agent was so different from the first. Our offer packages were well thought out and robust.. removing some contingencies (that we felt comfortable with) submitted love letter (first agent didn't allow this) and just keeping us up to date on the market asa whole. However, we still were not getting offers accepted. but we still felt way more comfortable and taken care. On of the last offers we put in was for a fixer upper ranch style house in a nice neighborhood. Listed for 650k offered 700k. I was Soo desperate and anxious about this one because I saw it's potential but knew we'd be competing with investors (possible). After submitting the offer, two days later... I went as far as contacting the selling agent myself to ask about the status of the offer and we were anxious buyers that loved the property. I got a friendly "seller has accepted an offer above asking and no appraisal"... I responded thanking her for the response while also saying our offer was also above asking and no appraisal but know we are living in difficult times for buyers but appreciate the response. The agent responded with a very kind... "These are difficult times for buyers... But you're being aggressive and I know you'll get your home soon" Two weeks later I got an email from this agent offering to show us one of their other listings. While I was grateful for the gesture.. the house was not in our desired location. So I kindly declined. Two weeks after that... That same agent emails me saying to call her asap because the house we had initially submitted an offer for was falling out of escrow with the accepted buyer and will be available that same day... And they wanted to sell it to us as their back up offer. I was so happy!! I called the agent and she mentioned the buyers where asking to reduce the price significantly for the work the house needed. And that the agent was going and didn't seem like she knew what she was doing. Agent said, seller can sell you the house for 670 (below what we had originally offered) but because they wanted a fast and smooth closing. And that the offer accepted... Was actually below our original offer but that the owners had run into those buyers during a showing and kicked it off. So the seller said " let's sell to them even if it's low... I like her" so it seemed the seller wasn't interested in top dollar as much as interested in selling to good people. The agent let us know the seller loved our letter and since the first buyer didn't work.. she wanted to do what she canto sell us the house. Sorry for the long story... But we're just about one week away from closing!! The house needs to be rewired, replumbing, and remodeled... But we already knew that even before submitting our initial offer (hubby is a handy man and although he won't do the work, he's aware of the low cost relative to the potential of the house). Appraisal came in at value... And seller has allowed us to have walkthrough with contractors to get estimates. Oh yeah... Although my communication was with the selling agent, after agreeing to take their offer (to sell us the house) the selling agent contacted our agent and he's representing us during this process. Anyway... All this to say is that get a realtor that is aware of THIS market but also remember that the selling realtor is just as (if not more) important than the owners/seller. We got lucky. [link] [comments] |
| Need Advice: Stuck Between a Rock and a Hard Place. (Outside Boston) Posted: 01 May 2021 06:55 AM PDT Several weeks ago I had my offer accepted on a beautiful Condo outside Boston. Since then, it's been an absolute disaster working with the seller's real estate agent and coming to an agreement. The seller's agent is only answering my agent once every 48 hours and if we ask more than one question, they only answer one question. List Price: $215,000
Our accepted offer: $230,000
They agreed. I paid to have the Condo inspected and appraised. The inspection came back clean and the appraisal came back at $221,000. I thought since my contingency said I wouldn't pay more than appraisal price, I assumed I got the condo for $221,000. (nope) The seller's agent says the seller is willing to "come down $5,000" from my $230,000 offer to $225,000. But I think that's a little high because recently sold comps in that condo complex have sold for only $209,000. I want to call the agent's bluff there but I'm not really in a position of strength given I can't force the owners to sell. The seller's agent is saying if we don't pay the extra $4K out of pocket its "too bad" because they might need to put it back on the market. I really want the condo and don't want to end up in this same situation 2 more weeks from now. My rental lease is also up August first so I'm against the clock myself. What options do you think are my smartest ones? If I have no other option than to fork over the extra $4,000, what options do I have to improve the contractual verbiage to guarantee I get the condo? Thanks! [link] [comments] |
| Posted: 01 May 2021 09:05 AM PDT I was surprised to learn that Realtor.com is showing the flood risk rating for properties now as determined by FEMA zoning. I usually use Zillow. According to the article I read by NPR, it is the only website to do so since it is a touchy issue. Could devalue your home, turn away buyers, etc. My house is a 1 but I'm still screwed. I live in Pinal County, Arizona as of a year ago and come to find out this place is number one for climate change risk: water shortage combined with extreme heat. My house could be worthless in 30 yrs but oh well. I found this out after and can't afford anywhere else. Climate gentrification is real and now listing flood risk ratings just makes it worse. After reading this article, I realize why I suddenly had flood insurance added without asking. I'm in the damn desert though. [link] [comments] |
| Best way to find off market homes? Posted: 01 May 2021 05:40 AM PDT What are the best ways to find off market (not on MLS) homes? [link] [comments] |
| The Struggles of Closing, will we end up with the house of our dreams?? Posted: 01 May 2021 10:41 AM PDT Good Afternoon, So, I am in the process of buying a house with my husband. And everything has been going extremely smooth. Beautiful. The loaner says there are no red flags in our history at all and thinks everything will go smoothly during the underwriting process. Great, and they have had our information for a good amount of time, we wait a good two weeks for the underwriter to finish reviewing. And about a day before closing, issues start popping up regarding my husbands job. (He did take some time off due to an injury but we got a letter written from a manager saying he can work 40 hours at his current pay rate). We got them the information they requested, but had to push our closing period back. Ok. Closing date is now the 30th of April. Cool, still plenty of time, underwriter doesn't approve the letter because other things look fishy regarding his VOE they keep mentioning that he only made $993 ytd from the month of March. Impossible, I sent them all the pay stubs and also all the bank statements showing how much he has made for the year. But they can't accept this. So my loaner tries another way around it and we are now only accepted for a partial loan. Ok... we have to pay a huge chunk of money out of pocket. But she needs a letter describing one other discrepancy in numbers relating to a bonus he got at Christmas time. It wasnt recorded as work hours. So it shows up differently in the pay stub. His work refuses to write a letter to simply explain this difference of $300 in his year to date. I send the loaner the pay stub for this, she cant use it because it leads back to the discrepancy of $993 on the VOE. Now our closing date has been pushed back to May 7th, and yesterday she tells me that if we cant resolve this we will have to pay in cash or cancel the contract. I am trying my best to resolve the issue and I'm sure what I wrote may be a little confusing, as it is also to me. But overall, we are having some issues and need some ideas or advice. I dont want to lose this house we already put money into the inspection and appraisals and all the other things. Everyone was 100% sure we would get the loan. But now, it is totally backwards from what we had. We have documents of excellent credit, some good assets, everything else is beautiful. I work part time because I was in school, but they are trying not to include my husbands pay which is leaving us with nothing. There is ample proof that he works full time and can even work up to 60 hours if he wanted to. We also currently live rent free so we have no other outgoing payments. The house will be a second home until we get jobs in the state that it resides. It is our first time buying a home. Are we doing something wrong? Is there anything else that can be done to resolve these issues. Unfortunately we can't afford the all cash option. But we are looking for any advice or just confidence that we have been following the process and that it just isn't working out because we dont have enough evidence. But this is how the process normally is right before closing. [link] [comments] |
| Posted: 01 May 2021 10:25 AM PDT My property has a side entrance which is adjacent to my neighbors backyard. He had a large utility trailer which he uses as a shed and it is a major eye sore. As you look outside the main entrance, all you see is this giant 12+ ft rusted trailer sticking up behind the fence. Talking to him won't help. He's old and stubborn. I couldn't find anything specific to this issue in my city's municipality codes but was wondering if you guys have seen some sort of code against this. We are not in HOA community. [link] [comments] |
| Posted: 01 May 2021 10:10 AM PDT We just closed on a new build house this past Tuesday. Later that night the toilet flooded the 1st floor and caused pretty bad water damage in the basement. Turns out during the inspection the inspector left the test ball lodged in the pipe. The construction company has been trying to fix the problem and then today raw sewage came out the toilet and caused even more damage. They now have to dig a huge hole in our front yard to fix the problem. The builder has been very responsive in trying to fix the problem but we are just overwhelmed. Any advice for my situation. I'm just trying to cover my bases. Thanks [link] [comments] |
| Posted: 30 Apr 2021 09:16 PM PDT So I went from being super depressed all month to finally getting an offer accepted on our dream home. I am worried about timelines and ensuring all the necessary steps followed through. My realtor, lender, AND seller all got COVID in the same week so everyone is super hard to get ahold of. Either they took time off work or are working at like 20% capacity from home and doing what they can. Just a very odd feeling. I'm super anxious, but at the same time I want them to focus on their health as that's what's important in life. Is there a way I could request to extend the closing date or something to give everyone more time? [link] [comments] |
| Bored well, no filtration system Posted: 01 May 2021 09:25 AM PDT I am under contract for a home with a private bored well and I am having some anxiety about it. Inspection is Monday and they will test the water for contaminants, but I also want to have the quantity/flow tested. There is no filtration system. There is also no sellers disclosure, but my realtor told me that is it because the current owners have never lived there. My realtor "assumes" that they have been renting it since they have owned it for 10 years. Nobody seems to know a lot about the property. Should I have a specialist come and check the overall function of the well? Should I not take this risk at all? There seems to be a lot of red flags but maybe I'm overreacting? ETA: Private wells are not very common where the home is located (Athens, GA) Although they are pretty common in surrounding rural areas. This property also has a septic tank that is not connected to county sewage line. [link] [comments] |
| Passing on a good house because of back yard view and sunlight Posted: 01 May 2021 03:10 AM PDT I found a house I like (nice & checks most boxes) but I find the back yard view depressing which you see from all the major room windows ... barren with views of power lines and other houses across the way staring into my back yard. I know I can plant trees but that will take many years to achieve a more private and foresty looking feel. I really like afternoon and evening sun in my back yard. (I know everyone is different on sunlight preference). Having a glass of wine or friends over after work on a summer evening to sit out on the deck. This is a south east facing back yard but more east facing than south - essentially the opposite of my sunlight needs. Overall it just doesn't have a happy back yard vibe. Has anyone else ever passed on a good house rouse for these reasons? Does backyard & sunlight affect your personal residence real estate decisions? [link] [comments] |
| Thinking in advance - selling but not buying immediately what to do with mail? Posted: 01 May 2021 05:17 AM PDT So I'm most likely going to list and sell my house and not have my purchase date match up close enough for a normal transition . That means I may be in a Airbnb for a month or two. What do I do with my mail? So I go ahead and get a po box now? And start having it forwarded even though it's going to be an inconvenience ? But it's better than waiting and having two sets of requests so close to each other? House being listed later this week. Anyone have a client with a similar situation? I'm just worried that no matter what I do it's going to be a CF and I'm going to miss important mail- think SSDI [link] [comments] |
| People who have lost out on 10+ offers - Does it get easier? Posted: 30 Apr 2021 03:07 PM PDT I wish I had more resilience, but I feel bad, all the time. I'm living in a perfectly nice rental with no need to move other than wanting to buy, and now that I've started the search, I feel anxious and hopeless all the time. So much fantasizing, sleepless nights, fretting, distraction. Nothing is wrong with my life, but I can't not fixate on homes now that I started. I opened a Pandora's box and am causing suffering to myself. Needless, really. Can't change my mentality. But also unwilling to give up. We've lost out of 4 offers now and have been in the market for 6 weeks, not a lot compared to some of you but it hurts every time. Being the 2nd best offer is even worse. Do you grow numb to it over time and stop caring when you lose out? Are you able to just get on with it day in day out? [link] [comments] |
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