Buyer client wants to submit really low ball offer... what do you do Real Estate |
- Buyer client wants to submit really low ball offer... what do you do
- Book Recommendations
- Land purchase and construction loan to build primary residence. How much down should I expect to need?
- Why would my landlord sign a lease with us knowing they are selling the property in a few weeks?
- (CA) I wan to build a guest house, but my neighbors oppose it. Now we are going to a hearing. I would like some advice on what to do next.
- Florida Renter Security Deposit ?
- [US-SoCal] Questions on buying a condo for my son as our 2nd home
- How to remove real estate agent from new home purchase?
- Texas Rental or Flip
- Unique Situation, Please Advise.
- Agent wants the closing of a deal to be contingent on the Sellers closing of a property the day after the deal?
- Made offer on home already under contract with sales contingency
- Best Vibrant City for Duplex Investment/Living
- Unique offer and terms. Wondering whether to accept.
- Backing out/legal advice
- VA appraisal ridiculously low, what’s my next step?
- Agents! What are you using for CRMs? I am very new to the industry and what like a little discussion.
- Moral obligation to buyer’s agent, need advice [Chicago]
- Buying - Etiquette with listing agent question(s)
- Using rent to pay mortgages
- Bought a house, prior owners failed to disclose multiple issues. Do I have any type of recourse? [PA]
- (VA) Conflicting information on what happens to the state tax lien if the bank forecloses on a home.
- (US, LA) House or Multi-unit?
| Buyer client wants to submit really low ball offer... what do you do Posted: 30 Nov 2017 08:16 AM PST I have a place they like and the ask is 250k. Its been on the market 6 weeks. They want to put an offer at 150k. How do you get your clients up to something realistic? [link] [comments]  |
| Posted: 30 Nov 2017 02:23 PM PST (US) Does anyone know of any book in particular that helped them when learning about real estate? Any good audiobooks I could listen too while commuting? Any level advanced or basic just want something to listen to or read. [link] [comments]  |
| Posted: 01 Dec 2017 01:57 AM PST I own a home already. I intend to buy land, develop a SFR, move in, and rent my existing. What kind of down percentage should I expect to have requested by the lender for the land purchase and construction loan. Land may be $500,000, construction aiming for $300,000. Los Angeles county. Thanks! [link] [comments]  |
| Why would my landlord sign a lease with us knowing they are selling the property in a few weeks? Posted: 30 Nov 2017 03:43 PM PST I'm just confused on what they gain from doing this? Could anyone explain. They did not tell us they were selling. We found out from the potential buyer showing up to the property before the sale was completed. Iowa! [link] [comments]  |
| Posted: 30 Nov 2017 11:53 AM PST I live in California, and I want to build a guest house in my backyard for my mother to live. I rent out a room for AirBnB, and I just found out my neighbor does not like it. They oppose the construction because of my AirBnB. They did not say anything to me before till now. I only found out because they send email to city hall stating my AirBnB as a reason they do not want the guest house build for fear of me renting that out as well. Another neighbor does not want me to build it because she thinks it could lower the value of her home. I plan on talking to me neighbor and telling them I would stop the AirBnB if they would allow me to build my guest house. I am not sure how to approach the neighbor who said my guest house would lower their house value. I would like some advice on what I should do next. What happens if I cannot convince my neighbors to allow me to build the guest house, and we proceed to the hearing? What are my chances of getting my house build despite the neighbors concern? Thanks in advance for any advice. [link] [comments]  |
| Florida Renter Security Deposit ? Posted: 30 Nov 2017 04:35 PM PST Gonna make this short and to the point as best I can. Rented a house for 6 years, paid every month on time, good relationship with guy that owns the house. Ready to not contest $800 security deposit when I move out cause the guy is cool. Move out, guys wife decides to become petty b*tch at last minute over garage door opener missing. OK game on, just out of spite I want my $ back. Never received written notice of account the security $ deposited into within 30 days. Is that enough to get my deposit back? No damage to house outside of normal wear and tear, did paint walls though. What are my options? Thank you in advance for your time [link] [comments]  |
| [US-SoCal] Questions on buying a condo for my son as our 2nd home Posted: 30 Nov 2017 10:12 PM PST Howdy - We live in a fairly expensive area of Southern California and it is very difficult for someone just starting out to even afford to rent an apartment, let alone purchase. We are fortunate enough to have owned our home for nearly 25 years and we could easily pay off the remaining mortgage of ~$60K. My income has gone up quite a bit in the last few years and with our quickly shrinking interest deduction, I'm getting killed on income taxes. My son is 25 and his fairly low-paying job doesn't provide him enough income to rent his own place, so he's living at home. I'm thinking of purchasing a condo that would both give us an investment property, and also give him a place of his own. He would pay us rent, but the rent might not be at the market rate, and I'm OK with that. A few years ago, I inherited a one-third interest in a vacation home that is part of a co-operative partnership. We own that free & clear, so there is no debt associated with it. Finally, my wife inherited a one-fourth interest in a commercial property. We also own that free & clear. Both of these inherited properties are handled on Schedule E for the IRS. I'm really a noob when it comes to all this stuff, I have no doubt I am leaving all kinds of money on the table by not understanding how smart people do this kind of stuff. I just try to make as much money as I can and I pay whatever I'm told to pay... So, my question is on the best way to accomplish the end goal of buying a condo and providing my son a reasonable rental. I'm defining "best way" as most advantages cost wise to me. I have a lot of options: -I could pay-off my current mortgage on my primary home and then take out a new mortgage on the condo as a "2nd home", then have my son pay me rent under the table. Would this condo still qualify as our 2nd home since we have no mortgages on the inherited properties? -I could pay-off my current mortgage on my primary home and purchase the condo as an investment property, renting it to my son and using all the expenses of ownership to offset the rental income. -Take out a home-equity loan on my primary residence and pay cash for the condo, then have my son pay me rent under the table. -Something else I'm not thinking of... [link] [comments]  |
| How to remove real estate agent from new home purchase? Posted: 30 Nov 2017 09:12 PM PST So I was helping a friend look at houses. Once they finished I decided I wanted to look at a new home construction near me. My friends real estate agent said she'll go with us and she signed my gf and in at the property. I'm now finding out from other agents who I want to work with that she now has to be our agent for the home if we decide to purchase it, which we most likely will. I've talked to her twice, but overall she's not been helpful at all. I don't have a buyers agent agreement with her nor did I sign any contract with the builder to purchase the home. This is PA. Am I free to remove her from being my agent? If yes, how do I do this? [link] [comments]  |
| Posted: 30 Nov 2017 08:43 AM PST I have been lurking in this thread for some time now. Loving and appreciating everyone's past contributions. Question: My wife and I own and live in an owner financed new construction home (purchased from a family member). We have a warranty deed on this home, and on paper looks like rent instead of a mortgage. I am positive we can rent this single family home for close to $700 above our "mortgage", taxes, and insurance. I am eligible for a VA home loan and was saving this for our dream home, but thanks to this thread I found out that if you pay it off- you are eligible for another each time. So should we be a multi family unit (living in one) with the VA loan and substantially increase our monthly income? Or Utilize* the VA loan to purchase a single family home, rehab, live and flip- turning the other into a rental. Thanks much. Also I am open to other strategies or ideas. *edit autocorrect from utilities to utilize [link] [comments]  |
| Unique Situation, Please Advise. Posted: 30 Nov 2017 11:01 AM PST First time home buyers. Unmarried currently, but both with excellent credit - 780+ .Presently in Ohio. Large amount of savings. My girlfriend and I are recently unemployed, but very employable people. We are looking at moving elsewhere and purchasing a home, if not starting a business as well. We have been interested in some specific areas, but notably Boise, ID for the type of business we're interested in as well as proximity to nature. Our question is being first time home buyers with ampe money to put down, how necessary is it to line up jobs before trying to get a loan? [link] [comments]  |
| Posted: 30 Nov 2017 01:45 PM PST They say it is just so the Sellers don't end up homeless but it makes no sense.. We are set to close on _ day contingent on the sale of their house the day after..... it should be contingent on them signing their closing disclosure/ their wire/ Getting the clear to close etc.. the other agent said they will remove the contingency on the day of closing but I don't like it. Thoughts? Location is Oregon. [link] [comments]  |
| Made offer on home already under contract with sales contingency Posted: 30 Nov 2017 07:40 PM PST Seller of our dream house agreed to our offer with stipulation that ours would be considered second contract, as home is already under contract with buyer with home sale contingency. Thankfully, there is a kick-out clause, giving the buyer 48 hours to remove the contingency. I know 2 Days is not a long time, but the anticipation is unbearable! Any experiences similar to this and what was the outcome? Also, any realtors out there able to tell me which way this usually ends up going? [link] [comments]  |
| Best Vibrant City for Duplex Investment/Living Posted: 30 Nov 2017 07:07 PM PST Hi there, I've saved up a bit and am considering taking a break from work, relocating to a city TBD, buying a duplex, and having tenants offset the costs. In terms of Cities I've spent all of my life in California (Southern California, San Francisco), so would like to try something new. If I were to rank them, I'd rate the following:
However, I've found it hard to find a place that matches the critieria:
The best contender so far would be Chicago where some duplexes surrounding Hyde Park (mainly South of it) near University of Chicago seem to have some affordable multi units. New York and Boston are 2 expensive, and the others seem to have good multi units. Any where else I'm missing? Help me decide where to move, thanks! [link] [comments]  |
| Unique offer and terms. Wondering whether to accept. Posted: 30 Nov 2017 06:34 PM PST Hello r/realestate. I recently put my condo (3br/3ba) up for sale in Chicago 3 weeks ago hoping for a hail-mary offer before the holiday season. We had ~10 showings after no promotion outside MLS listing, and one open house over three weeks, which we felt was pretty strong considering the timing. We received an offer and it after negotiation I'm still wondering whether its best to accept or to relist in spring when the market opens up. The offer:
After running all the math, id come out about 2k ahead on this offer vs closing in a more traditional 30 day close. Which is really nothing in the grand scheme of things. My concerns:
Additional comments:
So I wanted to see if anyone has any opinions or has gone through an extended close like this, or had thoughts into the Chicago market. Thanks in advance. [link] [comments]  |
| Posted: 30 Nov 2017 02:34 PM PST I'd made an offer on a property after receiving the report from the seller marking what they had knowledge of in terms of defects and after sending my agent to inspect the building and take pictures. After the offer was accepted I sent an inspector. The inspector turned up a number of things like mold, possible asbestos, possible leaky roof, gas leaks, etc. Things which would have been pretty obvious to any seller. I responded to the seller with conditions to repair most of the things the agent found and the seller agreed, but in the meantime I'd gotten a bad feeling and decided to back off. Now, the seller is refusing to sign a mutual cancellation. Where do I go from here? My agent is saying I should seek legal advice or just go ahead with the sale, but I don't want to get stuck with a house and the seller must have been lying on their initial disclosure. [link] [comments]  |
| VA appraisal ridiculously low, what’s my next step? Posted: 30 Nov 2017 01:32 PM PST House from hell strikes again. Closing was in 6 days not so much anymore. The VA appraisal came back way late and at $109K (purchase price is $137K). I only know of 1 house in my zip code that has sold for so little (a foreclosure) including the houses that are completely gutted after being flooded during Harvey. Honestly I'm wondering if the guy ever even looked at the house. My realtor and lender are both new to the VA loan process. I know an appeal is possible, but is it possible to find out what comps the appraiser used? I was prepared to walk away if the appraisal came back low, but this pissed me off and now I'm just angry. Is it worth the fight? [link] [comments]  |
| Posted: 30 Nov 2017 05:33 AM PST Just want to learn a bit about what others are doing to manager their contacts to generate leads! Thanks Currently in Canada. [link] [comments]  |
| Moral obligation to buyer’s agent, need advice [Chicago] Posted: 30 Nov 2017 09:13 AM PST My husband and I love our realtor. She recently sold our house in Chicago for 5% commission, and we wanted to use her for buying one, too. (We did not sign a contract with her to buy a house.) The first house we almost bought with her flooded badly before closing. The sellers didn't agree to fix anything, so we walked. Our agent had showed us the house (at our request), stayed during the inspection, and dealt with all the paperwork. The second house we almost bought with her fell through at the inspection, which she had also attended (the house had radon, asbestos, lead paint, needed all new windows, and several other issues we couldn't afford to pay for ourselves). More time of hers wasted and uncompensated, yet she remained optimistic and 100% supportive of our decision. She has clearly spent a lot of time with us as a buying agent. Here's the issue: My mom was telling her friend all about our house-buying escapades. The friend said she's thinking of buying a bigger house, and said we should come over and see her house. My mom presented the idea like a polite favor, asking us to just stop by to be nice. My mom didn't think we'd like the house (although she had never seen it) and neither did we. We loved the house. It's everything we've wanted and then some. But it was slightly above our price range, and the seller would only sell it to us at our price if we bought it privately (no realtors involved on either side). The house was never listed on the MLS. The seller not paying our realtor's commission could allow us to afford a house we wouldn't have been able to otherwise. We didn't want to talk to our realtor about it unless it was really happening (cowards), so we waited for the inspection and attorney review to go through. Everything went perfectly. My husband and I felt like huge assholes. We're buying the house (yay!) and need to tell our realtor we're doing it without her (crap!). If we had the money, we would pay her $12000 commission ourselves. All we have is $1500, which feels offensive after all the work she put in. As someone who doesn't work in real estate, how shitty is this to do to someone? Anything we can do to make it less shitty? Appreciate the honest input. [link] [comments]  |
| Buying - Etiquette with listing agent question(s) Posted: 30 Nov 2017 06:33 AM PST California A listing agent worked with me on possibly purchasing a property that did not fit my needs, but he worked very hard to get the information necessary in a timely manner and worked between the sellers and I. When it initially did not work out, he worked to get me information on a few pieces of land in the same general area that were not listed by him. Fastforward a few weeks, I drive buy a home that I had not seen listed before from some no-name small town agent/company and gave them a rang. This company has worked just as hard if not harder and swifter and has been proactive in getting me more leads to more properties I might find appealing even though they are not the listing agent. I like working with this group, yet I'm still talking with the original agent from the first property inquiry. Question: What is the proper thing to do? Bring in my first agent to the mix regarding the properties agent 2 has introduced me to? Just work with agent 1 with the properties he has introduced and work with agent 2 and the properties they have introduced? Thank you for your advice in advance. [link] [comments]  |
| Posted: 30 Nov 2017 03:24 PM PST Say that I have enough money to pay the down payment on three condos. I could then use the rent from those condos to pay off the monthly mortgage for each condo. In the end, when I sell the condos, I get back the downpayment plus the amount I paid in mortgages. And the amazing thing is that with just paying the down payments on three condos, I will have profited an amount equal to the amount I paid in monthly mortgages for the three condos. This looks like too an easy way to make money. What am I missing here? [link] [comments]  |
| Posted: 30 Nov 2017 08:54 AM PST (Cross-posted from r/legaladvice) I bought a house around Christmas last year, and since then I've uncovered multiple problems that were not disclosed by the sellers. The detached garage and basement flood every time it rains, I found about 20 tons of construction waste and garbage buried in the back yard, and the recent kitchen addition was not built on a level foundation. I had a home inspection, but the inspector was not able to catch the foundation or garage issue because the crawlspace and garage were full of junk so he did not have access. We did not notice any signs of flooding in the basement, because the sellers had just very recently re-painted the entire thing. None of these issues were disclosed by the seller, and they are all blatantly obvious if you've spent more than a week there. There's several other problems as well, too many to mention. I've been fixing most of the issues on my own, but the major problem is the foundation not being level. The prior owners added a kitchen addition to the rear of the home. When they laid the block foundation for it, they never got it level - it was way off. They tried to fix the issue by just slapping on extra mortar, but still never got it level and just built the addition anyway. Now the entire house slopes towards the faulty foundation and I've been told it will cost about $20K to fix (I bought the house for $50K). Support beams need to be installed, the whole house needs to be lifted, and the faulty foundation completely torn out and replaced. It's not anything urgent, but it will eventually need done and it is a huge inconvenience to live with daily. I know it's my own stupid fault for buying the place without more thorough due diligence, but do I have any type of recourse here? I spoke with an attorney friend that said I could probably sue for damages on the basis of failure to disclose. However, because the issues are relatively obvious, he's not sure if the fact that since I bought the house anyway that may have forfeited that option. Any thoughts or suggestions you all have would be greatly appreciated. Thanks in advance! [link] [comments]  |
| (VA) Conflicting information on what happens to the state tax lien if the bank forecloses on a home. Posted: 30 Nov 2017 12:26 PM PST I had a failing business and tried to save it for a couple of years. I had been delinquent in remitting the sales tax I was collecting. I now have a state tax lien on my home for around $50k There is no equity on my home and the bank gave me a foreclosure date. As far as I understand, in order for the bank to foreclose on my home, they have to pay my tax lien And the lien will be satisfied. The bank can then come after me for the deficiency. However, I've heard some short sale specialists that I talked to say that is not true, but another said the opposite. They said that if my home goes into foreclosure and there is not enough equity the tax liens will be removed and transfer to me personally. Please help! [link] [comments]  |
| Posted: 30 Nov 2017 11:54 AM PST Hey /r/RealEstate, For several years now I've wanted to move to one of the bigger cities here in Louisiana. I've got friends who live there (from when I was in school), and the lifestyle and activities there suit me a lot better than where I live in rural louisiana. I'm finally in a position where I can actually afford to purchase a property and I'm trying to figure out what the right plan of attack is. Originally, I thought it was a no-brainer to get a multi-unit place. I found out there are several locations, most of them four-plexes, that are under $200,000, a few of them are closer to $100,000 which is a very tempting price from the outside. It seems efficient to be able to rent out spaces while I occupy one or am working on the units that need TLC, I'd have that bit of income to help offset the cost of payments and any upgrades that do need to be made. But, as I was looking into this it occurred to me that a lot of these places are already rented out to tennants and that started to give me cold feet. One place is up front about the fact that its cost is low because it needs a new roof, but besides that there's something generally fishy about purchasing a property that is actively leased out to tennants. I assume that's a thing that happens all the time, but I don't really have any perspective on what sorts of responsiblities and costs I might have to take on as a result of that? Is fixing the plumbing in one of the units too expensive for the current landlord to front, is something like that going on? Alternatively, houses that I could try to rent out bedrooms in start closer to $150,000 and quickly go up. If I were to eventually rent the property, it seems like renting one house would generate a lot less income than renting out a four units each close to about half the typical rent for a ~3 bedroom house. For whatever it's worth, I think I have a romanticized idea of "fixing up" something like one of these multi-unit places and either living in one of the units and managing the property into retirement, or moving on to something else (or more properties) and sitting on passive income. So a reality check is welcome, too. Before I even look at these places (some of which are hard to view if they're are already occupied), I figured it would be smart to get advice on whether or not random strangers think I'm going down a silly path. (I'll also be discussing with property owners I'm close to and my family and whatnot!) [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