What is something you wish you had known when purchasing your first home? Real Estate |
- What is something you wish you had known when purchasing your first home?
- What would you do in this situation? Rent control potentially hitting the 2018 ballot.
- Potential Off-Gassing?
- Furnace issues
- [SC] Homebuilder's grading mistakes cause flooding/pooling of water. They sold a home affected by the flooding. Should/Can I inform new owners? (x-posted to /r/legaladvice)
- Tenant's lawyer contacted me about slip on ice [MA]
- [US - NC] Question about the new tax changes and renting real estate
- Does nobody pull permits for renovations?[TX]
- [OH] Do I accept a "credit towards closing costs" or lower the asking price?
- [AGENTS] What are your favorite/go to FSBO scripts? Been putting it off for awhile and scheduled a meeting with a few other people to take turns calling and offering service!
- Seller Concessions
- [NM] [Los Alamos] Town pop. 12,000, 4 bedroom houses going for 400,000+
- How to buy a house off of relative
- Question from a cable technician. I get commission for signing up new customers. How could I get a realtor to give the buyers my phone number every time they sell a house?
- Keyless entry for other agents?
- Looking to become an Agent in Southern California.
- Are chickens considered non-offensive common household animals [IA]?
- ISO ideas for forming a real estate team
- Investing in property at a young age
- Easements on Septic Tank?
- What’s the best way to break the renting cycle?
- SBA 504 Loan Question
- Closing with a lawyer vs. closing with a title company-documentation
- Can you own a home without getting a mortgage?
| What is something you wish you had known when purchasing your first home? Posted: 24 Jan 2018 07:25 AM PST |
| What would you do in this situation? Rent control potentially hitting the 2018 ballot. Posted: 24 Jan 2018 08:52 PM PST I currently own a Fourplex (Santa Cruz Ca) and rent them for about median rent/ little lower Than median for my area. The past few years I have been playing catch up on rent and have been raising it about 100$ a year. I have had zero turn over for 7 years and that has been awesome. Also finding tenants would be VERY easy if someone moved out. Rent control may be hitting the ballot this year, it is still under review and the proponents would still need to get signatures etc. but the potential of this happening is really unknown. I want to protect myself and my investment. My thoughts were if it does get onto the ballot, I would give my tenants a huge heads up that their rent will be going up significantly to market rent prices ~$400. Time of this happening depends on the verbiage of the law, so that this would happen when it is 100% legal. If the vote fails I would essentially rewrite everyone's lease to follow what I have been doing. Does this make sense? I would find a real estate lawyer to draft up this lease to make sure it's bulletproof. Also my units are very up to date for the area with dishwashers etc which no one else has in this price point. If it did pass and I start charging this higher rent I would most likely add washers and dryers to each unit (kinda difficult with the layout) but I feel with this price it would help. I know this is a wall of text, but man this really sucks for everyone, both tenants and landlords. [link] [comments]  |
| Posted: 24 Jan 2018 11:36 PM PST I know this might seem like a strange place to post this, but I have a question about my home. I just bought a new house, and a certain room upstairs (which I've made my office) makes me feel "uneasy" when I spend long periods of time in it. Most noticeable is that I get somewhat anxious, and start breathing more heavily than normal when spending extended time in this room. This room is an add on, which was built in the late 80s. It is SIGNIFICANTLY warmer than all other rooms in the house at any given time. This leads to me believe there is much more insulation. Is there anything that could be causing this? Radon? PFCs? Some weird insulation? Mold? Specifically from new construction in the late 80s? I'd like to think I'm not going crazy, but this add on room makes me feel crazy if I spend too much time in it! Edit: I live in Richmond, VA... Locationbot wanted me to tell you that [link] [comments]  |
| Posted: 25 Jan 2018 02:16 AM PST Selling our house by owner. During the Home inspection, the inspector recommended the buyer get the furnace looked at by an hvac company, so the buyer called a local company. When they assessed the unit, they said it was 29 years old, in full working order, but needed some parts that were no longer available. They said a couple times that "it was just a matter of time," until it quit. They're recommendation ended up being to replace the whole furnace unit. I contacted 2 more companies, one of which believes they still have parts for that model in stock. So my question is, what is my duty as the seller. The contract was signed under the premise that he house had an old system, not the prospect of me installing a new one before close. If I am able to replace the few parts & have the unit in full working order on the date of close, should that be sufficient to settle my side of the "final sale dependent upon home inspection findings," clause? Thank you! [link] [comments]  |
| Posted: 24 Jan 2018 04:09 PM PST I'll try to keep this brief, and be general... The land behind our home sold to a developer about 2 years ago and a homebuilder has been actively building on the site for 18 months. First, they screwed up and impeded our lot lines, so we sought and received restitution for that to build up more trees where they'd bulldozed them. About 14 months ago our lot started flooding during heavy rains because of their homes all draining to our lower lot. It's so bad that the entire cul-de-sac in front of OUR home becomes absolutely flooded with at least 8-12" of fast-running water. I have this on video, and have sent it to our contact with the homebuilder and the SC Dept of Health & Environmental Controls, as well as our local county. So, this has been documented, reported to DHEC, and I was told last year they would not sell the lot directly behind our house where a home had just been finished, until the flooding was resolved. I should note that the flooding overwhelms the rip-rap style ditch they've made to hold the water and floods the lawn of the finished home halfway up to the walkway. So far, they have done nothing. Well, in December I saw a SOLD sign go up at the finished house. Called our builder contact, got no response. Today, saw a moving van. Called, left text and emailed our builder contact. He finally called me back. He tried to say he didn't tell me they weren't going to sell that lot. At that point, I said, "Tell me how this goes down in March, when our lot is flooding and that homeowner's front yard is a lake. When I go back there to take video they are going to ask me who I am and I'm going to say, "I'm the person who lives just over your lot line and I've been documenting this flooding for the last YEAR and sending it to the people who sold you this house." I also realized, I think it might be important for me to inform the homeowners in the next day or so, if there are rights-of-rescission opportunities for them. At the very least they deserve to know how their lot looks during a heavy rain, and that the flooding well overflows the rocky reservoir built at the front of their lot. I sincerely doubt they have been informed of anything, since we haven't had a flooding rain since the fall, although we had 3-4 flooding downpours during the summer and fall, so it's a regular occurrence in-season. Would that be a crazy thing to do? Or the right thing to do? I'm torn on this, not just because I want the builder to fix the problem, but because I think it's something the new homebuyers truly need to know. Thanks. [link] [comments]  |
| Tenant's lawyer contacted me about slip on ice [MA] Posted: 24 Jan 2018 02:16 PM PST I am a new Landlord and I would like the opinions of what my options are. On a rainy cold morning I got a call from a tenant saying she had slipped and fallen on ice walking down the front steps. I am very good about salting and if there was ice on the steps it was gone before I got there. Now her Lawyer contacted me about a slip and fall accident. I have a salt bucket at the top of the stairs and make sure to do my best to clear the snow when it falls. I am not sure of the extent of her injury but she was walking around fine the same day. I have contacted my insurance company and I am waiting to here back from them. What are my next steps here. She lives in the building and is tenant at will, can i give her 30 days notice to move out or should I wait. Does the fact that a Lawyer took her case mean she has a chance of winning this? Going forward how can I prevent this. Its not as if I left snow unplowed. This was momentary ice during a rain storm. What ways can i protect myself from this going forward [link] [comments]  |
| [US - NC] Question about the new tax changes and renting real estate Posted: 24 Jan 2018 07:41 PM PST I did a search and didn't see any discussions about this. I currently own one rental condo and am considering renting out a second property. I have a decent handle on what the relevant tax situation was up until 2017. Are there changes with the new law that was passed? What parts are relevant to renting out a home? Thanks! [link] [comments]  |
| Does nobody pull permits for renovations?[TX] Posted: 24 Jan 2018 03:15 PM PST Hi there! First time home buyers here. My SO and I have been trying to purchase a home in North Texas for a while now. We've put in a bunch of offers, some at or over list and we've gotten 2 accepted so far. The first one was a remodeled 1940s home we backed out from due to the sketchy nature of the seller and how they did all of this work (including questionable electrical, horrible roofing job, etc ) without pulling permits. The 2nd one we are currently still in the option period for and is a 1960s renovated home. Much better quality renovations have been done and the seller is also the agent. She put in a lot of her money and claims her contracter she's been working with for 30+ yrs is great and she relies on him. But no permits were pulled. The inspector found electric updates that weren't finished correctly(some safety meter was missing?) , the home has had a new fence put up, washing machine room moved(didn't rout the dryer vent to the outside of the home), bathroom expanded, plumbing work, etc. I've read horror stories on people who bought homes with no permits. How serious is it? Our realtor is telling us its the way it is in this market, no one pulls permits etc and contradicting himself (he was the one that urged us to back out of 1st home due to no permits). Is it really that common for people not to pull permits? Any had any experience with this? Any info helps. Thank you! Tldr; House we are trying to buy was renovated entirely with no permits, how serious is it? [link] [comments]  |
| [OH] Do I accept a "credit towards closing costs" or lower the asking price? Posted: 24 Jan 2018 05:37 PM PST My wife and I are buying a home that is currently in bankruptcy. Due to the bankruptcy, our Agent has informed us that the sellers may not have money to fix inspection items or cover closing costs. So we really have two questions. What in the world is a "credit towards closing costs" and who pays for it or where does the money come from? Should we accept the "credit" or just lower the asking price. Any information or advice is very much appreciated. This is our first time home buying experience and both of us are nervous. We are unsure if we should trust our RealEstate agents advice or not. Thank you [link] [comments]  |
| Posted: 24 Jan 2018 01:42 PM PST Would like to hear what some of you use! Familiar with some sweat hogs scripts and the traditional ferry stuff. Pretty excited and nervous! ;) Thanks [link] [comments]  |
| Posted: 24 Jan 2018 04:27 PM PST FTHB [New Jersey]. We uncovered a couple big items during our inspection. It we estimate the cost to repair these items is $20k and our closing costs are $10k, would the remaining $10k be deducted from the purchase price? It seems that would be the only option other than have the seller fix the issues (which we don't want)...so if they agreed we would have a monthly mortgage payment that is a tiny tiny bit lower and would still need the cash for repairs? Additionally, there is evidence of water damage in the basement. The house sits on a steep hill and the back of the house needs to be regraded to slope away so water doesn't pool at the foundation (+ maybe basement waterproofing to be extra safe). Is that a reasonable concession item? [link] [comments]  |
| [NM] [Los Alamos] Town pop. 12,000, 4 bedroom houses going for 400,000+ Posted: 24 Jan 2018 11:57 AM PST I recently moved into the area renting short term just to get a feel for if/where I'd like to look at buying a house, and am amazed to see the housing market of the small town absolutely towers over the typical housing cost of a similar small town/NM. The cause is that a majority of households have an rather high fixed median income, and housing prices have risen to meet with the potential demand of individuals looking to own property near where they work. So I've been trying to figure out whether building a house of my own would result in a more effective use of my money compared to buying what I would consider a overpriced house. What factors often influence such a decision? I'm hazarding a guess that actually acquiring land might be quite difficult, but there were a few lots for sale in the area. I would also guess that labor for construction is likely quite inexpensive with the lower surrounding areas median income range. I'm not quite sure what cost of supplies would look like as I haven't quite looked into it, but really just wondering what sort of advice is out there. I'm looking to move into this property longterm to settle down for a bit, and would love any advice you may have to offer. Thank you for any help! [link] [comments]  |
| How to buy a house off of relative Posted: 24 Jan 2018 02:56 PM PST Been having trouble buying a house. We keep getting outbid by cash offers. We sold our house and need to move fairly quickly. A relative offered to make a cash offer on a house we like so we actually have a chance. Having a very hard time winning offers with a mortgage contingency (as we have to sell ours and remove our mortgage for financing) If she gets the house we will move in and apply for a mortgage and buy it from her as soon as we can. Any advice? Has anyone done this? We understand we must pay our closing costs and will reimburse hers as well. Do we just apply for a conventional mortgage? We are already approved for financing currently obviously since we've made offers. In PA [link] [comments]  |
| Posted: 24 Jan 2018 11:09 AM PST A bit off topic, but I'd appreciate your help. :) I am a conscientious dude, I think I'm one of the better technicians in my rather large company. I do good work and always understand customer's frustrations and do what I can to lower their bill, cut thru red tape and what not. Anyways, my job is to install and troubleshoot cable internet, phone and TV. I get a certain amount of commission for each new customer I sign up, or upsell. I am terrible about selling, I don't have the personality for it, I'm a bit awkward socially, and I feel skeezy earning commission even if I am helping someone out by lowering their bill. Regardless, it's part of my job. I'm trying to double the bread this year, and it occurred to me that each "for sale" sign in a yard is essentially a lead on a sale for me. Maybe they want us, maybe they want one of our 1-2 competitors, but it's about 50/50 and we legitimately do have the best internet in our area. I've put flyers advertising services in the front door of houses that have signs out. How could I get a realtor that I don't know to hand out my card to buyers? I can get everything set up for new customers super easy, free installations, best rates etc. If I had a way of reaching all of these new leads, I could remove one headache for the customer (setting up service), get them a really good rate, free installation, and make tons of money not to mention promotion. If you are a realtor, is there any value to having a cable guy you can recommend to your buyers? Would you find this proposition annoying? How would you go about this if you were in my shoes? I know a lot of success in life is knowing people, but I'm pretty bad at making new acquaintances, so if you're going to say "Get to know a real estate agent", that's probably not going to happen [link] [comments]  |
| Keyless entry for other agents? Posted: 24 Jan 2018 02:53 PM PST Anyone use any type of keyless entry for other agents? Either a fob or their cell phone or keypad? Im looking for one that isnt a monthly membership. [link] [comments]  |
| Looking to become an Agent in Southern California. Posted: 24 Jan 2018 11:06 AM PST My question is is it better for me to go ahead and get my license and then proceed to get hired? Or should I look for a team and have them pay the cost? If that's even an option. I use to work for an insurance company and they paid for my license and schooling. [link] [comments]  |
| Are chickens considered non-offensive common household animals [IA]? Posted: 24 Jan 2018 08:47 AM PST My husband and I are in the process of buying a house in eastern IA. We are interested in raising some hens for eggs. The city we are moving to recently changed their ordinances to allow hens in residential zones, but there are some covenants and HOA's that still do not allow them. One of our top houses has a covenant which states "No animals other than inoffensive common domestic household pets, such as dogs and cats, shall be kept on any Lot." Nothing else in the covenant specifically restricts hens. So given this language, do you think we could get away with keeping chickens? I would say chickens are inoffensive, common, and domestic. The only part of the restriction I'm not sure about is 'household'. Obviously the chickens would be kept outside, not in the house, but many dogs are also outside dogs and would still probably be allowed under this covenant. [link] [comments]  |
| ISO ideas for forming a real estate team Posted: 24 Jan 2018 05:38 AM PST I've been an agent for a couple of years and have a friendly acquaintance who just got their license. We're thinking of forming a team and would like some ideas of how to structure it. I've looked on line, but everything is pretty vague. Do most teams co list properties? Does it depend on the property? Most of the teams I've seen in my area are structured more like a boss and employees than people working together and that's not what we want. [link] [comments]  |
| Investing in property at a young age Posted: 24 Jan 2018 06:19 AM PST I am a 20 y/o college student who now has a ~110k net worth because of cryptocurrency, scholarships, and a job. I am interested in purchasing an apartment to live in for the remainder of my college years and to rent out after I leave. 1) Is it even realistic for me to get financing for a property? 2) Did you invest in property around my age? Do you recommend it? Regret it? [link] [comments]  |
| Posted: 24 Jan 2018 07:42 AM PST So I have my home inspections on Friday for a new property I am under contract for in the mountains of North Georgia near Helen. The biggest issue is that the sellers didn't really live in, but it's very well taken care of. They have no information whatsoever on the septic tank for the home. I reached out to the county and was given 3 permits from the 80s of the septic tank plans, but they are not certain where it is located. Based on their sketches, it looks like it could potentially be off my property or even shared. They also have no knowledge of easements. I have a septic inspector coming out the same time of the home inspection to find it and even inspect it if he can. But in the event, it isn't on my property have any of you had experience dealing with this type of situation? Do we get the seller to get the easement or is that something that as a buyer I have to go through and get that approved before closing? Thanks for the help! [link] [comments]  |
| What’s the best way to break the renting cycle? Posted: 24 Jan 2018 01:06 PM PST Located in San Diego County in California We're a couple renting an apartment right now. The general plan is to buy a cheap-ish condo when he graduates and has a "real" job, rent out a room to his younger brother, then eventually buy a house. Assuming we leave the condo after we have a higher combined income but before the condo is paid off, that leaves pretty much two options: 1. Sell the condo, pay off the rest of the mortgage, buy a house 2. Rent out the condo, pay two mortgages, buy a house Of course having property that we can pay off and rent out is the better option, but I know it's hard or else everyone would be doing it. What can we do other than make+save more money? Does it really just depend on the people and the property? Are there any general tips or things to work towards? [link] [comments]  |
| Posted: 24 Jan 2018 01:01 PM PST When do I start making payments on an SBA 504 loan that would be used to purchase land and construct a building for a new business? Would the loan be interest only during the construction period and then convert to interest and principle after the building is complete and the business is up-and-running? Or would I have to make full loan payments from the time the land purchase closes and construction begins? Thanks! [link] [comments]  |
| Closing with a lawyer vs. closing with a title company-documentation Posted: 24 Jan 2018 12:59 PM PST I am looking at a property in which the closing would be done with a title company instead of with a conventional lawyer. Could someone explain to me what the difference is in the entire process as this is the first time that I would be going through such a process with a title company. Also, what types of documents could I be expecting to be presented with at a closing with a title company? Thanks Edit: This is all in New Jersey [link] [comments]  |
| Can you own a home without getting a mortgage? Posted: 24 Jan 2018 12:35 PM PST I am confused on mortgages somewhat. Are they mandatory? Also, can you just get a good job, save up, and buy a home without one. Finally, is the amount you pay during a mortgage more than you would pay for the home itself? Do you pay a fixed amount every month? ETA: I live in Georgia [link] [comments]  |
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