(UK) I am looking to buy my first house with my GF. However there are cracks in the walls (images attached) Real Estate |
- (UK) I am looking to buy my first house with my GF. However there are cracks in the walls (images attached)
- Are houses near cemeteries harder to rent out or sell?
- Question re: what % net when I sell my home
- First-time SFH buyers knowing we'll only be here 1-5 years. Crazy? Zero closing cost mortgage an option?
- I am being sued for specific performance by the seller (TN)
- Do I have a bad agent or is it just this market? (greater Seattle)
- Is there any way to tell if a specific housing market will continue to rise or fall?
- (TX) Is there a way online to find out how much a piece of land is worth?
- Question about buying in Canada
- How to best go about buying land from an estate for cash?
- [NY] How much can I negotiate?
- Can a 1031 property be transferred into a charitable trust?
- Sell as is, or.. inherited house Bay Area (CA)
- What are some good ways to invest in real estate in places like Seattle right now, but without buying an actual property?
- FHA vs 20% down (US/VA)
| Posted: 01 Jan 2018 02:56 AM PST We viewed a Victorian terrace house on Saturday. It is not our 'perfect house' as it is located directly next to a railway line but this means the price is around £20,000 lower than it would otherwise be. However, there were some cracks in the walls, shown in the album here: After speaking to family members about it, they are concerned the cracks could be formed by the trains vibrating the ground, as a 100 year old house should be already settled and there shouldn't be cracks like this. However it could be something more superficial such as old plaster, so I'm not sure. Does anyone have any opinions on this? Should we avoid this and continue our search? Thanks! [link] [comments]  |
| Are houses near cemeteries harder to rent out or sell? Posted: 31 Dec 2017 10:57 AM PST Basically, the title's it. My husband and I are on the house hunt and there's a house we really like, but it's across the street from a grave yard. NJ, USA if that's relevant. It's a 2-family we hope to live in one unit and rent the other. Husband is hesitant about it and fears we'll have a harder time renting it out because the cemetery is "creepy." fwiw, it's a well-maintained cemetery. I like the idea of living near something so quiet and with relatively little traffic -- if I was looking to rent, I think I'd take the cemetery over say, a school or a shopping plaza. But he might be right, so I wanted to get some opinions about whether a cemetery is a big deal for a renter or prospective buyer. thanks! [link] [comments]  |
| Question re: what % net when I sell my home Posted: 31 Dec 2017 10:31 PM PST Is 10% of the home's sales price a reasonable estimate of what I will "lose" to fees and commissions when I sell my home? I know the realtors will get 6% (as a seller I pay both, correct?) and there will be other closing fees, etc... We want to change houses but want to be accurate with projecting what our house will net us prior to starting to search, Edit to add that I'm about 90 minutes from D.C. Thanks! [link] [comments]  |
| Posted: 31 Dec 2017 03:28 PM PST x-post from PF. Background.
We desperately want to move when our lease is up this summer. Our neighbors are extremely fond of bass and apartment management is mediocre at best. The 1BR space won't be feasible with baby after ~6-8 months anyways. We also desperately want to buy a house. Problem is that we are both somewhat agnostic regarding our jobs and are considering career changes that would move us across the country within the next 6 months to 5 years. It is also worth noting that we both are scientists who rely on soft government funding; in this current political climate there are a lot of nerves over this (although we are both relatively secure for the next few years). So our options seem to move, preferably to a SFH. Do we A) rent or B) buy? We could probably rent a SFH for ~$2200k/month. Now I know every rule of thumb screams DON'T BUY if you are not 100% sure you'll live in a home for 4-5 years. So here's my question... How stupid of an idea is this? We buy a house for $350k. We shoot for a "no closing costs" mortgage, buy out the costs with a slightly higher (let's say +0.5% APR) rate. So let's say 4.3% instead of the 3.8% we could get otherwise for a 30-yr. We do not plan to stay in this house for more than 5 years under any circumstances. This gets us more equity directly in the home and we may be able to get out from under PMI quicker. This probably puts us in the $1800/month range from various internet calculators (after PMI, taxes, etc.). If, say, next year we decide to make a career change that requires moving, my guess is we'll both pick up pretty substantial raises (from talking with others, we're pretty underpaid relative to the private sector). So if we sell, we take a 5-6% commission hit on the home assuming the market is flat, which would be $18-21k, although some of that would be offset by the fact that instead of renting we are putting money into home equity. But we'd take that hit knowing we'd be making more income elsewhere. On the flip side, if our jobs become more secure (and admittedly, we get internally promoted), we could choose to stay here permanently. If that were the case, we'd probably look for another, larger home (say $500k) in the next 4-5 years. It seems like the big risks we are taking here are... 1.) We get new jobs and are forced to move very quickly (say end of this year). Here some of the downside is offset by the fact we'd get raises if this happened. 2.) We risk getting locked into a higher APR with a no closing cost loan if we cannot afford/want to move within 4-5 years. and associated... 3.) The market flips over and the house depreciates in value making it difficult to sell when we want to sell. We mitigate some of this downside by buying a house for cheaper than calculators think we should, but this is my biggest fear. What other calculus am I missing here? [link] [comments]  |
| I am being sued for specific performance by the seller (TN) Posted: 31 Dec 2017 02:27 PM PST I landed myself in a pickle. We made an offer on a house, went through inspections, and agreed upon a resolution for repairs with the seller. Fast forward to the appraisal. The home meets the financing conditions (barely), but the appraisal revealed the home is 500 sq ft smaller than it listed for. We thought we were buying a 3500 sq ft home. In fact that the value of the home (price per sq ft) is what attracted us to the property. The seller very specifically called out in the listing what a great value the property was because it had over 3500 sq ft for under X dollars, but it is only 3000 sq ft. We informed the seller of the discovery and our desire to cancel the contract more than 2 weeks in advance of the scheduled closing date. The listing agent has been a grade A douchebag saying the only acceptable remedy is for us to purchase the house. We are fine to lose the earnest money and possibly pay even more to get out of this deal. He is threatening litigation, and refuses to communicate with my real estate agent as the closing date nears. He is inrltentionally waiting for the closing date to pass so we will be in breach instead of attempting to negotiate. I am pissed because he has been 100% unapologetic about his listing mistake and said if I had cared about the square footage being accurate (or apparently in the realm of reality), I should have made it a contingency. I have already reached out to a real estate attorney, but have been slow to get a response. I think the letter of the law really screws me, but I do not know how likely the courts are in a suit for specific performance against a buyer. FWIW, the part of TN I am in has a red hot market. I cannot even begin to fathom why they don't just take the earnest money and relist, or at least state what would be an acceptable remedy. I am also highly certain the listing agent is not consulting with his elderly client, but with the daughter who DOES NOT have power of attorney. HELP! [link] [comments]  |
| Do I have a bad agent or is it just this market? (greater Seattle) Posted: 31 Dec 2017 12:37 PM PST We've been house hunting in the suburbs 30-40 minutes outside the city of Seattle for 2 months now. We looked at a few houses at first but the very first house we looked at was PERFECT, it literally had everything on our want list, was 3 minutes from where we spend 80% of our time outside the house and was in our budget. My in laws however hated it, basically they're super snobby and don't understand that we are not also millionaires. However, they have experience in real estate so going with thier advice (our mistake) we made a low bid, like insulting low. They declined our offer and said that they've declined higher offers. So a few days pass, my in laws aren't in my ear anynore and I call my agent to tell her I want to make another bid, what are the odds we'regoing to find a place as perfect, it's worth it. So I tell my agent that I think we made a mistake bidding so low. She completely agrees and is so glad I decided to come back to that house. However we found out 5 minutes later that they accepted another offer. For the same that we were prepared to offer. Whyyy on earth didn't my agent tell me our low bid was insane? The housing market here is crazy. Since that house we've fallen in love with a bunch of other houses and lost those to cash, bigger bids, better financing, etc. We just saw a house for 500k that is half unfinished and while we were there 3 other agents showed up to show it. When we were leaving my agent told me we shouldn't even bother, it's going to go for a lot more and probably get a bunch of cash offers. I feel so depressed and hopeless. Is this a bad agent or just because the market in Seattle is blowing up so quickly? [link] [comments]  |
| Is there any way to tell if a specific housing market will continue to rise or fall? Posted: 31 Dec 2017 05:51 PM PST New to this whole thing, wondering if there is any way to tell. I can buy starting next year maybe, but if the market is expected to drop, I could wait another couple years for values to reach bottom. I found a few things on google, but nothing really concrete as far as expected the market rises and falls. Edit: Looking at different cities in Oregon. [link] [comments]  |
| (TX) Is there a way online to find out how much a piece of land is worth? Posted: 31 Dec 2017 07:22 PM PST My father has some land that he might want to sell, and he wants to know the value before deciding whether or not to go for it. I've tried looking up the address online to find the value or just looking up sites that would give me that information, but couldn't find anything. Is there anything out there that I could use to determine the value or should he just contact an agent and go from there? Thanks. [link] [comments]  |
| Question about buying in Canada Posted: 01 Jan 2018 12:52 AM PST Happy New Year everyone! My question is I want to put an offer on a house, however I already own a house. How do I go about this? If I do put an offer do I need a 20% down payment? I also want to sell my current house. [link] [comments]  |
| How to best go about buying land from an estate for cash? Posted: 31 Dec 2017 03:33 PM PST I am planning to purchase two parcels of undeveloped land in cash from the estate of a recently deceased person. We are not using an agent to broker the deal. Having little experience in this area, I am hoping to get some guidance on how best to go about this to protect our purchase. I assume we should go through a title agency to ensure a clean title. What else am I missing? [link] [comments]  |
| [NY] How much can I negotiate? Posted: 31 Dec 2017 10:23 PM PST First time buyer trying to get a feel for low ball offers. For example, a house is: 400k, on the market since mid 2015, needs a lot of updating and some repairs (only have seen pictures not in person so don't know the extent), but in great area/ school district. Realistically what would you all guess would be an appropriate offer? Thanks! [link] [comments]  |
| Can a 1031 property be transferred into a charitable trust? Posted: 31 Dec 2017 10:51 AM PST (International) A house that currently has a mortgage is normally disqualified from being transferred into a charitable remainder unitrust for purposes of deferring capital gains. Would doing a 1031 exchange for only the owner's equity of this property (and paying capital gains on the mortgage boot), followed by exchange into a CRUT of the new, 1031 exchanged property allow one to defer capital gains on this property? This property is international so all exchanges would be done internationally. [link] [comments]  |
| Sell as is, or.. inherited house Bay Area (CA) Posted: 31 Dec 2017 02:25 PM PST I have a few questions! Ok, short story.. I inherited a house in the bay area, California. Vallejo to be exact, in the nicer part. Homes in my neighborhood are nice and lovely people. I'm not sure what to do. It needs a bit of work to make it what I consider to me move in ready. I'd want to update washer/dryer, fridge. A section of floor in the kitchen got water damage from the sink overflowing a couple times... laminate floors, bathrooms are dated, walls are peach color, kitchen being brown, with brown cabinets, and corian counters. Outside... well, the landscaping is horrible in my opinion.. LOTS of garden planters even in front yard, with astroturf for green and some stone pathway work. To me, sure it's ugly as all heck. My biggest question I guess would be... should I dump some money into it and make it more presentable, or just sell it as is. Last CMA went for about 450k.. last year, zillow shows similar going for 440-490k. It's the only single story house on the block. Retired persons dream, and a small view of the bay. I owe about 130k on the mortgage. I have limited funds to toss at the house. Maybe someone can just give me some pointers. I'm also living in it while I try to figure out what to do. [link] [comments]  |
| Posted: 31 Dec 2017 01:59 PM PST |
| Posted: 31 Dec 2017 12:33 AM PST Ok, so I plan on buying a condo with a price between 75k-100k, but I have a few questions before I start to make plans.
Any help or additional advice for a first time buyer would be greatly appreciated. [link] [comments]  |
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