Found a property not on the market, have spoken with the owner, want to make an offer Real Estate |
- Found a property not on the market, have spoken with the owner, want to make an offer
- Leaking Foundation and Furnace Replacement w/in first year - what is my recourse? [MO]
- Testing for mold
- How much can we bargain on a new construction condo? What is your experience or advice (CA)
- Is there something in it for a mortgage broker to make me use a high deposit.
- 1st time home buyer, about to buy in philadelphia. If I want to take advantage of NeighborhoodLIFT down payment assistance, how do i get approved for a loan?
- Maintenance reserve for first home
- Buying land in US from Canada
- Furnace died during sale... Advice?
- Tax credit for first time investment property? [VT]
- (BE) Cadastral Income...
- I have good credit but no cash.
- Are you allow to rent individual rooms for a 1031 exchange property?
- Neighbor with cloudy title pressuring me to sell to them
- Best way to find a tear-down in Chicago?
- Not sure if right sub, but to become a loan officer do you take the nmls test or mlo test?
- (IL) Where to begin when thinking of buying a house that's gonna need remodeling work
- Starting real estate career at 32
- Private easement compensation (AL)
- What do you wish you had put in your first lease?
- Radon levels?
- Anyone use Fundrise to invest at all?
- Utah - Submitting a lower than asking price offer
| Found a property not on the market, have spoken with the owner, want to make an offer Posted: 28 Jan 2018 09:07 PM PST What kind of representation do I need in order to prepare and submit a formal offer to purchase a piece of property that isn't currently on the market? I have spoken with the owner and he suggested that he would be happy to consider an offer from me. Is this a job for a "buyer's agent"? The seller told me he wanted to handle the entire sale himself since he has done a lot of real estate transaction and has access to the California forms necessary. His goal is to avoid the commission. I don't want to do that since I'm not experienced enough to trust the seller to handle everything. I know the seller typically pays the commission, but I'm thinking about paying the commission so the seller can't complain about me involving a professional... How much should it be? [link] [comments]  |
| Leaking Foundation and Furnace Replacement w/in first year - what is my recourse? [MO] Posted: 28 Jan 2018 02:36 PM PST I bought a house in August of 2017. Since then, I've to have a trench dug and sump pump installed in the basement ($6,000) and replace the downstairs furnace ($3,000). Neither of these items was on the inspector's report. Is there any recourse I have on this? I'm already tired of living in a money pit. [link] [comments]  |
| Posted: 29 Jan 2018 03:16 AM PST I'm looking at a home with potential mold issues. There are about 3 big spots on the wood floors of the house throughout. This was a renovation to flip property. My realtor tells me I can have a professional inspection done for mold but how accurate are these tests? [link] [comments]  |
| How much can we bargain on a new construction condo? What is your experience or advice (CA) Posted: 28 Jan 2018 11:44 AM PST Me and my hubby are looking into buy a condo. We live in Quebec and the market isn't as hot or high as Toronto. We decided to buy in the suburbs, the area is mostly industrial but they have a residential area built a couple blocks over and as well there is another builder who has a condo project delivering for the same time as ours is. They are side by side (I mention this to disclose there is a bit of competition in the immediate area). We are looking for a 4 1/2 (which is a two bedroom) and don't want to spend more than 350,000. How much do you think we can bargain on price on this new construction? Where is a good place to start? We visited several new constructions in the same city and received a call back from one who basically said she could take 10,000 off without us even asking. Just looking for solid advice. Thanks! [link] [comments]  |
| Is there something in it for a mortgage broker to make me use a high deposit. Posted: 29 Jan 2018 01:48 AM PST Tried to buy a house a couple of months ago. Told the broker I wanted to put 10,000 out of my 27,000 savings towards a deposit. He came back and said ill need all the 27,000. Which is 13.5%. So the next house I tell him I'll put 25,000 down as a deposit. He tells me it will have to be 20% now. So 32000. Why is he angling for more cash? I'm high risk self employed and need a low doc application. Apparently. Edit. Victoria, Australia [link] [comments]  |
| Posted: 28 Jan 2018 09:54 PM PST I tried with rocket mortgage and they said that I needed the down payment in either a bank account or retirement account. I have most of the downpayment, but it will probably take me about a month to procure the rest of it. If I qualify for a down payment assistance program, how do i get approved for the loan (as, like I said, rocket mortgage requires me to already have the cash). [link] [comments]  |
| Maintenance reserve for first home Posted: 28 Jan 2018 10:24 AM PST I'm considering buying my first home this year in central Virginia. In addition to thinking about my down payment and closing cost, I want to ensure I have enough money saved for an operating/maintenance reserve for various house-related emergencies (e.g. plumbing, HVAC, roof). I have enough saved for a down payment, but I don't want to be caught with my pants down when the unexpected happens. The houses I'm looking at of are all around 1,500 SF, 3 BR/2BA, one-story ranchers. Prices are between $200,000 and $225,000. I live in an area with mild winters. How much would you recommend that I have in an operating/maintenance reserve at the time of closing? Thank you. [link] [comments]  |
| Posted: 28 Jan 2018 02:14 PM PST Hi fellow investors,. Two primary questions: 1) Firstly, I notice a lot of very cheap land in the US. Small parcels of land in remote but beautiful areas going for 2.5-3k. many seem to have utilities accessable, and the land is flat enough. Examples would be along Clear Lake CA and some of the towns south of Palm Desert. I am aware that the cost to build is high, and permits, surveys and utility connections can eat into build cost. Still, it is hard to believe that this land won't be worth considerably more in the future, no? So why is it so cheap and why does no one buy it up? As a side note I see these blocks as being quite different to the under 1k per acre real estate in the desert or middle of nowhere. These blocks are parcels of land in remote but reasonably established communities. 2) This leads me to my second question. My intent would be to purchase a plot or two at a low cost, hold onto it and consider selling or building in the future. The question then becomes, how much does the property cost to maintain as land only in terms of taxes. I am a resident of Canada, so I would love to know the tax considerations for Canadians investing in land in the US or where I can go for more information. Certainly compared to Canadian prices some of the land in the US is next to nothing. So I have to assume there is a catch here. Your thought and experience would be gratefully received. [link] [comments]  |
| Furnace died during sale... Advice? Posted: 28 Jan 2018 01:22 PM PST Trying to figure something out... My furnace is original to the home, a semi-decent American Standard (not decent enough to withstand 20 years, though), and the blower just conked out on it. I've been advised to take advantage of the situation and replace the furnace to aid with the sale of my home, even though I've already had two offers on it. I guess my realtor's point of view is that the buyer could easily ask for money in escrow to fund a new furnace down the road, since the condition of the furnace was already relatively poor. I also have a home warranty that could cover the blower repair (with a $125 deductible), but I'd probably have to wait out a few sub-freezing nights and cross my fingers the pipes don't freeze before they can fix it. I submitted a ticket anyways, but apparently the place they assigned to me doesn't take Sunday appointments... (my luck that it broke on a Saturday night, haha) I'm very apprehensive to spend >$3k on a new furnace, especially since I doubt I will see any return on the investment. So I'm reaching out to ask some advice on it... Anyone have any input? Thanks! :edit: House is in the Cleveland, OH area. [link] [comments]  |
| Tax credit for first time investment property? [VT] Posted: 28 Jan 2018 11:42 PM PST I'm purchasing a 3-bedroom condo in Vermont. I live in California. I have never purchased real estate before. Are there any tax credits I should be aware of that are specific to a first-time home buyer that also apply regardless of if it's owner-occupied or not? I won't be living in it. It will be non owner occupied. [link] [comments]  |
| Posted: 28 Jan 2018 05:49 AM PST Ive been looking into whats the "cadastral income" in Belgium websites but i cant really understand much, does anybody has an idea about whats this and the real advantages? thanks! [link] [comments]  |
| I have good credit but no cash. Posted: 28 Jan 2018 08:57 PM PST I want to invest in real estate, my credit is sound, somewhere about 690-715 between all three credit bureaus right now, but I have very little cash. I've heard of doing no money down deals, but I'm not sure how to go about that. Can a person with good credit obtain rental real estate property with no money down or with little cash reserves? [link] [comments]  |
| Are you allow to rent individual rooms for a 1031 exchange property? Posted: 28 Jan 2018 08:46 PM PST I want to rent out a property in California since the 1031 exchange cannot be a primary residence for at least a year. so I just wanted to check out my options as oppose to renting the entire place to a single family. [link] [comments]  |
| Neighbor with cloudy title pressuring me to sell to them Posted: 28 Jan 2018 01:54 PM PST Cloudy title is probably too weak a phrase to describe the situation. They've been there over 40 years and most likely started off as renters. Guessing the landlord died some time ago and nobody showed up to collect the rent after that. They seem to have the idea of buying my place legitimately to combine with their lot and take it from there. The assessor's office here seems to have some access controls now, but most likely was a basketcase during the 70s-80s (when one of them worked for a local title company). No records found. I like it where I am and have no intention of selling. Any thoughts on how to foil these creeps? BTW they actually have taken out multiple home equity loans against the property. A bank that was acquired by US Bank was the lender and US Bank has continued the practice -- legacy customer I suppose. I have no proof, but was thinking of contacting US Bank about them. I don't like getting up in other peoples business, but these folks have essentially taken it to the limit in terms of harassment. Location: Oregon [link] [comments]  |
| Best way to find a tear-down in Chicago? Posted: 28 Jan 2018 07:08 PM PST I'm interested in purchasing a tear-down property to build something new. I've seen a few new constructions around the city that were built on land purchased for around $250k in Chicago (Andersonville area). Does anyone know the best resources to use to find these opportunities? [link] [comments]  |
| Not sure if right sub, but to become a loan officer do you take the nmls test or mlo test? Posted: 28 Jan 2018 06:14 PM PST |
| (IL) Where to begin when thinking of buying a house that's gonna need remodeling work Posted: 28 Jan 2018 04:48 PM PST My wife and I are thinking of buying a place that was owned by the same gentleman for over 40 years. It has a grandparent vibe to it -- to say the least. We don't even know where to begin in updating this house. Obviously it needs to be inspected first, but then, if we're not thinking of tearing down several walls (at first) where should we begin? Here is what's for certain: - The entire kitchen needs to be torn out and replaced - Every inch of floor needs to be redone - It has 2 bathrooms. Each needs to be redone - The basement ... I don't even know where to begin with what needs to happen to the basement. It looks like a secret bar in a VFW. - There's a lot of wood panelling (see: grandparent vibe) that could stand to be replaced. This isn't even touching on what I'm expecting an inspector to say: House needs to entirely rewired, new windows, and roof replaced. Under different circumstances I'd be gung-ho to do a lot of this work by myself. That said, I'm a stay-at-home dad with 2 small children (a 3 and 1 year old) and it's just not possible to get a lot of things done with them around. Hopefully I'm posting this on the correct page. I've tried searching "where to start when considering renovation" but it's not taking me down the right path. Any help would be grateful. Thanks! [link] [comments]  |
| Starting real estate career at 32 Posted: 28 Jan 2018 10:45 AM PST Thanks in advance for any help relating to my situation! I'm 32, in a long term relationship, and have no intention of having children. I have lived in Central California for the last 8 years running my own medical cannabis business and paying taxes as self employed person. I've made the decision that I'm done with my current industry and ready to pursue a new career in real estate. Within the real estate industry I'd like to utilize the buy and hold strategy to build up a portfolio of rental units so that in ten or fifteen years I can have some decent passive income. I've been researching everything I can, and have committed myself 100% to making this my life for the foreseeable future. I've decided to move to Columbus, Ohio to pursue this new career based on their growing economy/population, price-to-rent ratio, proximity of a few hours from where i grew up, being a place I'd enjoy living, ect… I'm in the process of pulling the trigger and moving out there in the next month. After I sell my home and pay off my debt I should walk away with 300-350k in the bank. Once I'm debt free my credit score should shoot up from 700 to 750+. The problem that I have now is obtaining financing so I can leverage as much of my money as I can to buy cash flowing properties. I've been talking to a mortgage broker in Columbus to find a way to make this work. The problem I have is even though I averaged around 35k after deductions on my taxes the last three years, that wont carry over since I'm moving across the country and changing careers. I was told that they could qualify me as long as I excepted a full time w-2 job, with a offer letter, and 30 days worth the pay stubs. I was told what I do after those 30 days would have no bearing on the loan. So now my dilemma is finding good a paying job to obtain the loans. I have no college degree, and other then self employment my only work history is as a food server and a raft guide. I do have many skills I've acquired through being a small business owner, but I'm not sure how to demonstrate my value to potential employers. If the job didn't need to be a w-2 I could bust my but driving ubber/lyft or become a real estate agent but I don't think that will work. I've thought about quickly becoming certified/licensed in a blue collar field, but the most promising leads I've had involve traveling out of state. If I could find something solid in this field I'm not afraid to invest time and capitol to make it happen. I've also thought of trying to partner up with someone with a w-2, and going that route. Partnerships scare me though. Right now my plan is to just make the move out there, and start networking and looking good leads. Any thoughts or idea's would be greatly appreciated, thanks!!! [link] [comments]  |
| Private easement compensation (AL) Posted: 28 Jan 2018 04:39 PM PST As the title suggests, I am experiencing some issues with a neighbor involving an easement/access rights. For the sake of context, I own a 27 acre plot of land in northern Alabama. There is a car shop I built on site and I cut hay off of approximately 22 acres worth. The neighboring property of 20 acres recently went up for sale and the owner's lawyer is requesting that I grant an easement over my land so that potential buyers could obtain financing. Well, the north and east of the properties are bounded by steep, mostly impassible hills, the south side by railroad tracks. Thus, cutting through my lot is the only way to feasibly access the land. There is a dirt road that existed for that purpose across my land already, but the owners have not been on the land in 15 years and thus the dirt road is still mostly overgrown and inaccessible. There is no easement noted on my survey (which was done last year). Here in comes the issue. They are requesting a road easement width of 20ft and due to the way the road is routed I would "lose" approximately 2 acres of land to their easement and be separated physically from another 3 forested acres. If this went to court, I feel like it would be granted and taken without any sort of compensation. However, their land is being sold for $48k so it seems fair to request compensation for the "loss" of those two acres. Am I way out of line for thinking this? I am nearly certain I would still be paying the property tax for the granted easement as well so at the moment it appears as a lose lose situation. In a perfect world I would like to request $2400 to grant a deeded easement. That may be on the low end or ridiculously high, I am not sure, but I took the property tax assessment value, halved it, then made that figure the compensation amount. Will this fly? Is it even legal for me to ask this of the owners? I have to address this next week in depth with the lawyer and I would like to be well informed before I do. I am not trying to be an ass or screw over the neighbors, I just want to feel better about this occurring. [link] [comments]  |
| What do you wish you had put in your first lease? Posted: 28 Jan 2018 04:15 PM PST |
| Posted: 28 Jan 2018 04:07 PM PST Looking at a home that's perfect, completely remodeled, all new appliances, a finished basement with a state of the art sub pump system, just perfect. But the radon levels in the house are at ">2.0" is this extremely high? How much does/should this affect the price? Edit: in Vermont [link] [comments]  |
| Anyone use Fundrise to invest at all? Posted: 28 Jan 2018 12:01 PM PST Anyone care to share any experience? Worth it at all? [link] [comments]  |
| Utah - Submitting a lower than asking price offer Posted: 28 Jan 2018 02:16 PM PST We've been trying to purchase our first home over the last few months and have found a few houses that meet our criteria but the asking price of the homes in our area seem to be going up faster than anybody can keep up with it. What was $300k a year ago seems to be listing at $340k now with no change to the properties whatsoever. It's getting to the point where it's severely over-inflated and other first time buyers are getting pushed out of the market. We can afford somewhere in the middle, but believe the appreciation is a bit much & is erring to the point of greed on the sellers. Is there an issue with sending in an offer at lower than asking price, somewhere around 5-10%? [link] [comments]  |
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