Can you take your girlfriends name off the house if you guys break up? If so how hard would it be? (Read description) Real Estate |
- Can you take your girlfriends name off the house if you guys break up? If so how hard would it be? (Read description)
- People are warning me that the real estate business is extremely social and requires a lot of networking. Can anyone offer experience on this?
- How would converting a small walk-in closet into a half bathroom affect the value of a 3 bedroom 1 bath house?
- What's the closest thing to a RE agent textbook? (x-post from r/realtors)
- How to minimize taxes when selling a property and buying a new one?
- $6.5k foreclosure?
- Cal-Atlantic Builders/Ryland homes
- [FL] Better resale value in turning an enclosed garage a 1/1 apartment or just adding a bathroom
- Wisconsin licensee needed.
- Fiduciary Duties question
- "Bad luck" reason home isn't selling?
- Best option for a short term $200k loan? [OR]
- What's a homebuying advice that you followed because of one of those hundreds of "need some advice" threads, but would NEVER follow again?
- Inheriting tenants. Should Owner and/or Manager send letter?
- Thoughts on variable rate seller commission? (US)
- NYC- What is the best option for selling my home?
- [MN] when to put a house on the market in a rural area?
- Home inspection on rental I might buy?
- Amicable divorce, putting house on market April 1. Want to buy a house. First steps? What to look out for?
- Short Sale advice/question for buyer in hot market.
- I have enough money to buy a home in Los Angeles. What will my costs be, and can I make a profit if I rent out rooms?
- SO and I can't agree on type of flooring to choose in our fixer upper.
- How much to charge to help sell a house?
- As is contract standard in Florida?
| Posted: 08 Jan 2018 04:20 PM PST My parents are giving out house for me and my 2 brothers. My brother wants to put his girlfriend, soon to be wife's name on the house. I don't trust her, what would happen if they divorced / broke up and her name is on the house, would she still have access to the home, and if so how can we take it off [link] [comments]  |
| Posted: 08 Jan 2018 12:13 PM PST |
| Posted: 08 Jan 2018 11:56 AM PST The only bathroom is on the main floor. All three bedrooms are upstairs. The closet that would be converted is the only closet in that bedroom. There is not much closet space in the rest of the house (small ones in the other two bedrooms + hall closet in entryway) but a full unfinished basement can be used for storage. I would estimate the cost of the reno at around 10k, so just wondering about the ROI upon resale. [link] [comments]  |
| What's the closest thing to a RE agent textbook? (x-post from r/realtors) Posted: 09 Jan 2018 01:17 AM PST I just got my license, and I plan on looking at different brokerages in a couple months. In the meantime I want to study up as much as I can to sort of hit the ground running and have some idea of what I'm doing. So I want basically a textbook. I do NOT care (yet) about sales strategies, techniques, lead generation, etc. I want to learn about RE itself and my agent duties. E.g., relevant laws, contracts, how to do a CMA, how to do an inspection, how broker/agent/team relationships work, lenders, mortgages, foreclosures, record keeping etc. I just want my 1st client to not feel like he's my 1st client, yknow? Is there a book like this? Hard copy would be preferred but there must be some nar resources and other stuff that would help. Anything that will teach me with as little fluff and pep talk as possible would be great. Thanks.
Edit: California. Sleep soundly LocationBot. [link] [comments]  |
| How to minimize taxes when selling a property and buying a new one? Posted: 09 Jan 2018 01:07 AM PST We currently own two apartments (In Chicago) in our 4 unit building and are interested in selling the two apartments and buying a house to personally live in. We live in one of the apartments (more than 10 years) and have been renting out the other apartment for around 5 years now. What are the best procedures that one can use to minimize taxes paid while selling the two apartments and buying a house. I've been given advice like making sure to sell first and then buying the house within six months and also heard about a 1031 exchange but am not really sure what will work in my case because one of the apartments is personal and the other one is commercial while both being located in the same building and wanted to sell both of them together. [link] [comments]  |
| Posted: 08 Jan 2018 10:54 AM PST St. Pete, FL. I'm sure this falls under the "too good to be true" category. I would just like a better understanding of what this means. I'm looking at a piece of property on a county foreclosure website. The site shows the "Final Judgement Amount" to be $6.5k with a "Plantiff Max Bid" of $6.7k. Now, can someone explain what I'm paying for if I were to win the online auction? Do I own the property? Or the rights to pay off a loan? Thanks! [link] [comments]  |
| Cal-Atlantic Builders/Ryland homes Posted: 08 Jan 2018 01:23 PM PST Does anyone have experience with them as their home builder? Looking for feedback as they are potential builders for our new home. Most reviews online are always negative so I try to take that with a grain of salt.. [link] [comments]  |
| [FL] Better resale value in turning an enclosed garage a 1/1 apartment or just adding a bathroom Posted: 08 Jan 2018 07:20 PM PST My current house has a 2 car garage that was enclosed by a previously owner. Sadly its kind of a dead space because little else was done besides adding shitty 70s carpet. We've tried using the space as the dining/entertainment/guest overflow area but the bathrooms are still on the other side of the house. Would resale be better fully converting it into a 1/1 rental/in-law suite or just put in a full bath and leave the rest of the area as a utility area? [link] [comments]  |
| Posted: 08 Jan 2018 06:41 PM PST Can anyone provide a referral for a broker providing broker of record services for an out of state broker on a commercial real estate sale in Wisconsin? Looking to spend no more than a few grand for the service. Thank you! [link] [comments]  |
| Posted: 08 Jan 2018 10:23 PM PST Hey guys, I'm study for my licensing exam and taking some practice tests. A question tripped me up about the fiduciary duties of an oral listing: "A salesperson took an oral listing. On the basis of the oral listing he showed the property" A. There was no relationship between the Licensee and the owner since the losing was not in writing B. The licensee had fiduciary responsibility to the owner. C. If the sales person sold the property, he was entitled to commission D. If the sales person sold the property, the broker was entitled to commission The answer was A but I don't get it. The From my understanding, since the listing is not in writing it's not valid. But, if you're going to do anything acting as an agent, like showing the property, you're obligated with fiduciary responsibility. I was hoping some one could break this down for me a little bit. Thank you! Location: Alaska [link] [comments]  |
| "Bad luck" reason home isn't selling? Posted: 08 Jan 2018 06:58 AM PST EDIT AT BOTTOM OF POSTOur house has been on the market since September and has not even received one offer. It was listed the same as other homes the same age/size with some updates, and only -$2-4k higher than same age/size homes with absolutely ZERO updates! Since then we have dropped the price (see end of this) We have: -brand new HVAC - brand new flooring throughout (everyone always goes on and on about) -new paint -new countertops (not granite or quartz but no other comparables do either) - new light fixtures -added landscaping - added gutters - large, new storage building conveys - we are paying closing costs and a lot of people around here with comparables aren't We have heard the weirdest reasons for people not buying our home even though they absolutely love it. A "dog chewed back door" when there is literally nothing chewed or broken, we don't even have a dog. "My stepdaddy didn't like it", "too loud of neighborhood" (which is NOT true, it's very quiet here, they went with another house in a comparable neighborhood down the road), "my daughter is moving in with me and liked another one better", "young couple loved it but the mother in law liked another" (this couple bought a more expensive smaller house with 0 updates), "dad said he didn't like the roof" (roof isn't new but it isn't old, we had it looked at and it is in great condition and insurance wouldn't cover a replacement bc it is fine). AND we have had 7, yes 7, tell us they wanted it and NONE OF THEM were pre-approved and NONE OF THEM could get approved so it all fell through before it even started. I have watched home after home sell over ours, some more expensive with NO UPDATES OR ANYTHING AT ALL and we have yet to get 1 offer. My realtor is dumbfounded and confused as are we. She said she has never seen this kind of thing before. We have even dropped the price twice, now it is equal to literally every house with no updates in terms of pricing and we need to relocate due ti a job. Is there ANYTHING cheap we can do to set things apart more? I'm at a loss here. Edit I have never come across this locally, but I am reading that in some places, sellers will compile a few sheets of info and leave them for potential buyers. For instance, the listing, plus some info for restaurants/schools/parks nearby, why they love the home, and details for them that maybe their agent isn't relaying fully, like our updates and closing costs being paid. Is this something that might help? [link] [comments]  |
| Best option for a short term $200k loan? [OR] Posted: 08 Jan 2018 03:42 PM PST I'm looking to downsize into a smaller home. A friend is moving out of state and I'd like to buy his house. We agreed on a very fair price and have been researching the selling process. Here's the situation:
So I have until April 30 to come up with $220k ($395k - $175k). What's the most cost effective way to do so? It looks like I have a few options:
Given that I'll only need the loan for two months, what's the best strategy here? Should I just choose the option that has the lowest closing fees and no prepayment penalty? [link] [comments]  |
| Posted: 08 Jan 2018 09:18 PM PST |
| Inheriting tenants. Should Owner and/or Manager send letter? Posted: 08 Jan 2018 10:58 AM PST In a few days, I'm closing on a rental with tenants in place. I'm retaining existing management. I'd like to send tenants a letter introducing myself and letting them know a few things. Is this poor form, best practice, other? Can it come right from me, should it come from manager? Thank you for your advice. State is Georgia. [link] [comments]  |
| Thoughts on variable rate seller commission? (US) Posted: 08 Jan 2018 08:29 PM PST Reddit! I am about to sell our house and am toying with the idea of setting up a variable rate commission for the seller agent while keeping the buyer agent commission at the standard 3%. For example, assume a seller agents comes in to review the details of the house and suggest a listing price of $500K. I would propose a seller agent commission rate to be 2% for the first $400K of the sale price. Then the commission rate jumps to 10% for the amount above $400K. By picking the variable rate, the seller agent has more upside if they can close higher than the listing price. Any reactions? Have any of you had similar experiences? Is there a model out there that provides better incentive to maximize the seller payout? Or, is the static rate the best we've got? Edit: Billsrealaccount made a good point. Changing 20% to 10% so that the agent gets only a slight upside if they hit the listing price ($18K versus $15K on flat commission) [link] [comments]  |
| NYC- What is the best option for selling my home? Posted: 08 Jan 2018 06:13 PM PST Hey guys, I live in Cypress Hills, Brooklyn New York and I inherited a one family home from my deceased grandfather but I think it is more practical to sell it. I'm thinking of selling it and relocating altogether. Great thing is that it is large with 4 bedrooms, 2 and half bathrooms, basement and private driveway that's able to fit up to 4 small to mid size sedans. If less vehicles are in the driveway, it allows even more space for backyard entertainment. Does anyone know of any investors or good real estate agents that can help market my home and get the best offer? [link] [comments]  |
| [MN] when to put a house on the market in a rural area? Posted: 08 Jan 2018 09:59 AM PST We are looking to move when I graduate college in May. When should we put the house on the market? We live in an extremely rural part of the Minnesota north of Thief River Falls (6 hrs North of St. Paul). We have been working to update the house (paint, putting in floors, etc.) and will be done with that in February. [link] [comments]  |
| Home inspection on rental I might buy? Posted: 08 Jan 2018 05:29 PM PST I currently live in a house that I've been renting for about 9 years. My landlord has decided that he wants to sell it, so I have the option to buy. If I do decide to go through with it, should I still get a home inspection? [link] [comments]  |
| Posted: 08 Jan 2018 06:54 AM PST [Georgia] Can or should I apply for a mortgage before my current house sells? How does having an existing mortgage impact what I can qualify for? Would love to be pointed to some guides or tips. I feel like a 1st time home buyer - we've been in our existing house for 16 years. [link] [comments]  |
| Short Sale advice/question for buyer in hot market. Posted: 08 Jan 2018 04:47 PM PST There is a large home short selling for $600k in a neighborhood with a $700k median price. Home built in 90s and seems in good shape. Unfortunately I don't have too many details yet. But my question is (and forgive my ignorance), assuming the bank approved the short sale, why would they sell the house at a price lower than they know they can get. Given the sqft, this house would normally be well above the median in a normal sell in this neighborhood. What am I missing? Is a bid war about to ensue? [link] [comments]  |
| Posted: 08 Jan 2018 12:40 PM PST So I have the opportunity to purchase a home in Los Angeles. I have enough to pay for a $1.5 Million home. On this I would have to pay property tax (around 1% per year I think?). Insurance (from my research around $1.5k per year). What can I expect to pay in maintenance? Obviously this depends a lot, but if we presume it's a house in good condition not needing any major repairs. My main question is this: Say if I buy a 4 bedroom house. I rent out 2 of the rooms for $1500 per month, for a total of $36k income per year. Can I offset my costs for maintenance/insurance/taxes to avoid or pay less taxes on that rental income? In this scenario, since I won't have to pay a mortgage, can I realistically make a profit owning a house in Los Angeles? Thanks! [link] [comments]  |
| SO and I can't agree on type of flooring to choose in our fixer upper. Posted: 08 Jan 2018 11:10 AM PST We live in South FL in a 1700 sqft split bedroom floor plan with not huge rooms, and we were content on replacing the entire house with tile and now she is strongly considering polished concrete in the entire house. I work on concrete all day at work so I'm not looking forward to standing on the stuff at home too. My biggest concern though is if its a good idea at all. What are the benefits? Will the polished concrete increase or decrease our home value? Any input would be greatly appreciated. [link] [comments]  |
| How much to charge to help sell a house? Posted: 08 Jan 2018 02:22 PM PST I'm currently living in a 7 bedroom, 5 bath house on a 0.25 lot located in a suburban area. I currently manage the house as an Airbnb for the owners, who live in different cities. However, I would like to move back home to help my folks after one of my relatives passed away. Since the owners don't want to manage the house, and they'd rather not find someone else to help manage it, they've have asked me to help sell the house, in exchange for a percentage of the proceeds. However, I'm not sure how much to ask for. From my perspective, I'm antsy to get home to help my folks, but I also want to maintain ties to my current location. What would be ideal from my perspective would be to spend one week a month at my folks, and the rest of the month here until the house sells. However, in order to do that, I'd need help to:
What do y'all think I should ask for? How should we structure the deal so that our incentives are aligned? Thanks in advance for your help. [link] [comments]  |
| As is contract standard in Florida? Posted: 08 Jan 2018 01:44 PM PST Looking to buy a house for the first time in Pinellas County, Florida, and the seller came back with an "As is" contract. Since the mortgage crisis in '08, is this now standard practice for the most part here? [link] [comments]  |
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