Appraisal higher than the purchase price. What does that mean for me? [SC] Real Estate |
- Appraisal higher than the purchase price. What does that mean for me? [SC]
- [Speculation] Is the Market About to be Flooded with Chinese Sellers?
- Selling and buying. Use a bridge loan?
- Is it possible to shop for a better mortgage rate?
- Invest in a rental in bay area or elsewhere?
- I want to qualify for a mortgage but I've just graduated and started a full time job. Can paid internships count as previous W2 income?
- So once I get my license, how does the hiring process go?
- Escrow companies that will do double closings in SoCal?
- Is there any kinda of lawyer can look up that specializes in condo HOA policies/bylaws?
- [New York] Opportunities to save money between offer accepted and contract?
- What factors are specific to buying a house in NW Washington State?
- Sewer line ownership/responsibility question [OH]
- What do I need to know about ordering a double wide? (WA)
- [FTHB] What repairs are reasonable to request in Post-Inspection Agreement?
- Has there ever been a large scale renter strike in the USA?
- Submitting a cash offer (GA)
- Is this grounds for refund from inspector?
- LowDoc Loans in Idaho
- Is 150ft of forest too close to a gold course? (Worried about noise, chemicals, birds.)
| Appraisal higher than the purchase price. What does that mean for me? [SC] Posted: 10 Mar 2018 04:51 PM PST I recently signed a contract on a home in South Carolina for $116K. The appraisal came back and it is appraised at $128K. I'm happy that I got a good deal. Other than that, what does the higher appraisal mean for me? Will I have equity in my home right away? [link] [comments]  |
| [Speculation] Is the Market About to be Flooded with Chinese Sellers? Posted: 10 Mar 2018 08:32 PM PST The Chinese government has seized control of Anbang Insurance Group, a Chinese conglomerate with massive real estate holdings in the US and Canada, the takeover possibly ending within a year if asset disposals are completed. Will Chinese real estate investors begin to cash out? It seems likely that government pressure on both sides of the Pacific will force some kind of movement. In Vancouver, BC housing prices jumped 30% from 2015-2016 to an average of $1.4M due to an influx of foreign cash. Vancouver increased it's foreign buyer tax to 20% last year with Toronto also imposing a 15% tax on foreign buyers. Vacant homes have also become an issue for Vancouver with about 4.6% or 8,481 homes standing empty or underutilized for more than 180 days in 2017. Properties deemed empty will now be subject to a tax of 1% of the assessed value. Nearly 61% of the homes declared empty in Vancouver were condos with other multifamily properties making up nearly 6%, according to the city government. HNA Group is looking to dispose of $16B worth of assets including $3.61B in US real estate currently up for sale. Dalian Wanda Group, which owns AMC Cinemas, is also selling off billions of dollars worth of worldwide real estate. [link] [comments]  |
| Selling and buying. Use a bridge loan? Posted: 11 Mar 2018 04:50 AM PDT I currently own a house in the rural northeast that I bought 4 years ago as a fixer upper at $275k. After $30k in updates I believe it's worth at least $335k. I would like to move closer to work and civilization. A perfect Fannie mae owned foreclosure came on the market. They are asking $450k. I was told banks don't like the typical back and forth of bargaining so I am thinking of offering my best offer of $420k with a contingency of selling my current home which is not on the market yet. If not I would need a bridge loan. Which is the best way to go? [link] [comments]  |
| Is it possible to shop for a better mortgage rate? Posted: 10 Mar 2018 03:20 PM PST Assuming the following: Credit scores in 800s 5 years and 10 years with our employers, respectively Mortgage will be about 20% of take home Traditional 30 year, no FHA but we will need mortgage insurance* No debt but a couple of small car payments (no student loans, no credit card debt, nada). In the above scenario, my mortgage broker pulled my rates on Monday and literally made a "yuck" noise (something like 4.78). I understand that interest rates are on the rise and we missed the "record" low. But is 4.78 (or whatever it's at when we get a rate lock, probably in about two weeks) pretty much what it will be even if we tried to "shop" the mortgage, no matter who we talk to? (*20% down is not an option, we're in a medium CoL area that's being considered for both Amazon and Apple east coast HQ and is getting more expensive every day. The new construction home we contracted for is already selling for $6000 more than when we signed in December. In other words, home prices could very well outstrip our ability to save.) [link] [comments]  |
| Invest in a rental in bay area or elsewhere? Posted: 10 Mar 2018 11:31 AM PST I am quite torn deciding what to do and can use your expertise and experience. Current situation: We're living in bay area in a manufactured home and paying lot rent, which we're actually quite happy about at this point. We also have a rental in Atlanta that has about $150k of equity in it with zero cash flow (a property I already have and kept rented before moving to CA). We have $200k cash on hand. We're not looking to move from bay area any time soon. We are open to sell the rental in Atlanta. Goal: One thought is to purchase a single family in bay area to rent out. Although we are happy with our current home, it's not a "real" property and we're ultimately at the lot owner's mercy. I would feel better owning a property here in the bay area if we ever need to find another place to live. This is not likely to generate cash flow, though. Another thought is to invest in a duplex or larger property purely for investment. If we make good choices and able to generate cash flow, we can build on that cash flow and still feel secured about staying in the manufactured home. But if we're looking for cash flow, is the bay area the best place to invest? For $200k, I would likely need to go in with other investors in bay area while I can buy multiple homes in other states by myself. There are the trade-offs (management) but can it still work out better? I'm probably not even asking all the right questions. Any advice is appreciated. [link] [comments]  |
| Posted: 10 Mar 2018 07:13 PM PST I've read that lenders require at least 2 years of W2 income to qualify for a loan. For the last 5 years I've made around 12k/year, holding each job for 3 months. Will I be able to qualify for a mortgage with this W2 income history? My location is Bedford, Massachusetts. [link] [comments]  |
| So once I get my license, how does the hiring process go? Posted: 10 Mar 2018 11:07 AM PST The way my instructor put it, it sounded like you just pick a brokerage to attach your license to and where you go is all up to you. Will I be pretty much guaranteed a spot somewhere once I get my license? Sorry for the noob question, just want some clarification [link] [comments]  |
| Escrow companies that will do double closings in SoCal? Posted: 10 Mar 2018 04:53 PM PST Is there a list of escrow companies or real estate attorneys that will do double closings for wholesalers in California? The idea here is to not use any money of my own. Thanks for you well informed response. [link] [comments]  |
| Is there any kinda of lawyer can look up that specializes in condo HOA policies/bylaws? Posted: 10 Mar 2018 09:41 AM PST I'm part of an HOA in a condo and have sneaking suspicion that the board is doing something regarding the condo (personal projects that affect common areas) that is in direct contradiction to the bylaws, but I don't have the depth to fully interpret the bylaws and present a counter-case. Are there any attorneys I can search for that could help with this? EDIT: Location is in the Pacific NorthWest [link] [comments]  |
| [New York] Opportunities to save money between offer accepted and contract? Posted: 10 Mar 2018 11:55 AM PST The title says it all. I haven't decided yet on a lender, only have 2 pre-quals that I could go with from local banks. The rates seem a bit higher than some I've found online, but the Realtor says to go local. I'm just posting to ask if people have good advice for how to save money at this point in the process! I've paid for the inspection, need to pay for the lawyer, taxes in escrow, and other closing costs. Are there any tactics for where to shave off parts of the cost here? [link] [comments]  |
| What factors are specific to buying a house in NW Washington State? Posted: 10 Mar 2018 09:35 AM PST I am an experienced home buyer planning to retire to the area roughly north of Seattle to Canadian border and west of Cascades Mountains. I'm not worried about schools or commuting. I'm wondering about how to check out conditions specific to this area. Ideal answers will indicate how to research, test or hire inspectors to gain knowledge pertinent to purchasing a home. I can think of these relative to the land: Insurance costs including flood plains and flood insurance. Well quality versus risk of salt water infiltration? Septic versus municipal waste disposal. Garbage pickup or access to dumps. Low bank versus high bank? Access to beaches? Fire protection outside of municipalities. Park and ride connections to buses and trains? How to find rainfall averages versus snow fall? At this time I'm not considering islands limited by boat or ferry access only. Building factors: Mold anyone? radon testing? Earthquake and tsunami evacuation areas? Is there insurance for these risks? Broadband internet access? Downsides of buying a property on Indian reservations? Sound problems from naval bases on Whidbey and Camano islands? [link] [comments]  |
| Sewer line ownership/responsibility question [OH] Posted: 10 Mar 2018 07:20 PM PST The TL:DR of the situation is that a home 5 houses away from me (downhill) recently experienced a flooded basement from a sewer line backup. When the owner contacted the county, they determined that the sewer line was a private line owned by the 8 houses on the block. This line needed to be inspected and cleaned out, but since there wasn't access - a new manhole would have to be installed. The homeowner gets estimates and our confirmation that we would be responsible for the repairs. At that time, I confirmed because it seemed to be the neighborly thing to do - I wouldn't want my house to be flooded, either. This week, we just got a bill from the plumbing company for just under $1000. The realization of the initial costs and the potential for additional costs has now made me reconsider the circumstances.... Here are my questions:
Regardless, I wanted to throw it out and see if this is would be a situation worth fighting on my end. Please let me know your thoughts, or if more details are needed. Thank you! [link] [comments]  |
| What do I need to know about ordering a double wide? (WA) Posted: 10 Mar 2018 06:57 AM PST We have a property that would be a good fit a double wide trailer, anything more than that would be over developed for the area. We talked to our mortgage broker and a double wide would be the minimum that would be easily financable when it comes time to sell. However we don't really know much about mobile homes. We found a good local dealer and are working out the details but in general it seems like they want you to order their second rate cabinetry, appliances etc. Any tips for getting the best bang for your buck? Pitfalls to avoid? Anything else we have not thought of? [link] [comments]  |
| [FTHB] What repairs are reasonable to request in Post-Inspection Agreement? Posted: 10 Mar 2018 09:16 AM PST I'm in the process of buying a home in Ohio. It's 125 years old. Purchase price is 105. For the most part, the inspection came back pretty positive. Most of the items were minor or seemed cheap to fix. There were really only two big issues the inspector noted. First, there was evidence of termites, but no evidence of damage. Also no evidence of termite treatment. The termite inspector quoted $650 for treatment. Second, the portion of the chimney in the attic has about a fist sized hole on it. I don't entirely understand it, but the way the heat is set up, it goes through the chimney, so the inspector said the hole would allow gas to be blown into the attic if it isn't repaired. So my question is what is reasonable to ask the seller to fix? What expectations should we have? It's hard to know what to ask for. Also, the seller is also the listing agent. Not sure if that matters, or if it makes things better or worse. Thanks for any advice you may have! [link] [comments]  |
| Has there ever been a large scale renter strike in the USA? Posted: 10 Mar 2018 09:38 PM PST Wondering if there has ever been a large scale renter strike in a part of the USA. Given the current conditions of overbuilt high end rentals, poor job prospects and squeeze on the renter class I wonder if it would be possible to get a movement towards a renters strike going in the USA. [link] [comments]  |
| Posted: 10 Mar 2018 06:06 AM PST Is it "customary" to provide proof of funds when submitting a cash offer? Or do we submit it when the seller accepts or begins to negotiate? [link] [comments]  |
| Is this grounds for refund from inspector? Posted: 10 Mar 2018 06:01 PM PST We purchased a home in October, today we had a handyman out installing some ceiling fans, he looked outside and noticed a wire in the rocks in backyard. We were told it was a dead wire from previous pool which is now filled. He pulled on it and it sparked. so this whole time we've had a live wire an inch under rocks and it's been raining. He removed it and capped the line. Do I have any recourse here or just be grateful it's gone. He also found mold in attic space. Any help would be grateful. Currently in Arizona. [link] [comments]  |
| Posted: 10 Mar 2018 12:01 PM PST My partner and I are relocating across country to Boise, ID. Rather than rent, we've picked out a few neighborhoods we would want to live in and started looking at homes. We are both near 800 credit scores with very little debt. First time home buyers. Our problem lies in the fact that we have not secured employment yet. It won't be an issue once we're living in the city(both have great employment history) but we're in a catch 22 of we know where we want to move, but need to be there to secure employment. Our thoughts are to find a low/noDoc loan and purchase an appreciating property to use as our primary residence. Any advice for us? [link] [comments]  |
| Is 150ft of forest too close to a gold course? (Worried about noise, chemicals, birds.) Posted: 10 Mar 2018 09:15 AM PST EDIT: typo, gold -> golf. I'm considering buying a house in Central Florida. The lot borders a golf course on the back side. The lot has about 130-160ft of forest between the backyard and the golf course. That land is part of the lot, so if I buy I can be sure the vegetation is not removed in the future. It's basically trees and bushes like you would find in most central Florida. The lot is irregular stretched out 1.6 acres. About half of it is the backyard. And 3/4ths of the backyard is the forest. My immediate neighbor to one side has some of the trees cut down. So it's possible for the noise to get to me through that spot. Here is Google Earth image of what it looks like: https://i.imgur.com/2MhwBFt.jpg The pic is outdated, there is a finished course there now, which is probably maintained daily. Should I worry about the noise made by mowing/landscaping of the golf course, the gasoline smell of equipment, the chemicals they might use to treat the lawn (and rains washing it all down towards me), and the birds (crapping) all over the place. Otherwise, I really like the place. Is this enough to shield me from the golf course? Is it even a concern or am I overreacting? [link] [comments]  |
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