How to get a tenant out of our property in the city of Los Angeles Real Estate |
- How to get a tenant out of our property in the city of Los Angeles
- Wind damaged roof - Claim insurance?
- [WA] Seller filed for bankruptcy on the home purchased prior to the closing date. What are the implications?
- Thank You r/RealEstate [USA - OH]
- Do any first time home buyers regret buying a fixer upper?
- Pros/cons of being one of the first buyers in a new community
- Should I drop my agent
- Help selling a house after a called off engagement.
- I'm considering purchasing a home through owner financing, unsure of the process
- Realistic price negotiation points as a first time homebuyer. Am I lowballing?
- HELOC for Down Payment before Selling Current House?
- Post Purchase Sewer Nightmare
- Does anyone here buy notes or tax liens?
- Selling house in Pakistan for $1.2m
- HOA Budgeting Excel Sheet
- Building a home without a buyers agent [UT]
- Should we keep our house as a rental when we move to a different state (US)?
- First Time Buyer, Good Salary, Great Savings - How To Use My Money Wisely? [Toronto]
- 70k Down + Buy Points or 75k Down + No Points?
- Update on Santa Cruz rent control
- [NY,NJ] First Time Homebuyer help me with my math.
- Pool Inspection?
- First Time Home Buyer Looking for Mortgage Advice (NY)
- [Missouri] Question About Commission Rates
- How much house can I afford?
| How to get a tenant out of our property in the city of Los Angeles Posted: 28 Mar 2018 05:37 PM PDT There's a section 8 tenant that me and my investment partners absolutely despise. Is there anyway we can get her out of our property? How can it possibly be legal for someone be given the right to indefinitely live in your property well after the lease expires? I don't understand how you can't take your property back after a lease ends, that just seems insane. Thinking we just sell it, hopefully to someone who wants to demolish the place, and build new apartments... UPDATE: I think I'll just wait them out CA makes it virtually impossible to evict them. If they make a mistake I'll act as soon as possible to evict. Just fyi to anyone else in this situation. [link] [comments]  |
| Wind damaged roof - Claim insurance? Posted: 28 Mar 2018 05:01 PM PDT My roof was damaged a little bit during the recent storms on the east coast. The repair cost could be <$1000, but can I claim the cost of replacing the roof from my home insurance company? What are the issues that could occur further down the line because I have a claim on my insurance (My deductible is $1000 and roof cost is $15000)? Thanks. [link] [comments]  |
| Posted: 28 Mar 2018 06:21 PM PDT I received a letter from my mortgage company, Chase, notifying me that I declared for bankruptcy on the property that I have recently purchased. After calling in to see what the deal was and some investigation, I found out that the previous owner declared bankruptcy prior to the closing date, and neither Chase or the title company caught that. Chase is now "investigating" the matter to see what the issue is, and if it is just a clerical error, and that I should not consult an attorney yet. I am curious as to what the implications are and if I should lawyer up immediately. Am I just SOL or are there anything I can do till I hear back from Chase? Sorry if this is the wrong sub to ask. Edit: I got the letter notifying me dated a little more than a week after the closing date. Edit2: This is also a for sale by owner situation... I don't know if this affects the sale? [link] [comments]  |
| Thank You r/RealEstate [USA - OH] Posted: 28 Mar 2018 08:23 PM PDT Wanted to put a quick post out there thanking this sub for all it's taught me over the last couple months. I was fortunate to find a place this past weekend that really jived with me and financially was a really good value for a first timer like me since the neighborhood its in tends to protect values well. It's not the most perfect place ever, but being my first home I came to realize (partially thanks to this sub) that's an unrealistic expectation in my case and that this place was a really good fit. Did a second showing earlier this week and officially made an offer today. Seller countered about 9% above, but well in line with comps in the area for what I am getting and I decided to accept knowing how competitive the market is right now and that there were no other offers to compete with (yet). I got it for what I think is a very fair price and look forward to everything going smoothly for closing (and ultimately moving in). Thank you to all in this sub who provided responses to my posts, or made other posts/comments that helped me understand and better myself and my seach to find the right place for me. If all goes well I'll be closing on May 9th. I've learned a lot and want those who regularly contribute to know that their input is very much appreciated. Here's hoping the next 40-ish days go well! [link] [comments]  |
| Do any first time home buyers regret buying a fixer upper? Posted: 29 Mar 2018 02:51 AM PDT I'm looking at purchasing a home within the next few months, I've got my down payment saved 3.5% and then savings for repairs for the house and stuff like that. I'm just wondering if anyone that is a first time home buyer bought a fixer upper and regret it? I know there can be risks and it can be expensive, just looking for some advice/opinion from people who have done it. Thanks! [link] [comments]  |
| Pros/cons of being one of the first buyers in a new community Posted: 28 Mar 2018 04:38 PM PDT As the title states, what are the pros/cons of being an early buyer in a new build community? An obvious con would be the constant construction that would inevitably be going on as other homes are built. I would assume a pro would be that you may be able to buy your home before future price increases as sales and demand increases. Anyone have any other pros/cons they can think of? Is a builder more generous with credits/upgrades for early adopters? Phoenix, AZ [link] [comments]  |
| Posted: 28 Mar 2018 05:10 PM PDT Location is West Virginia First time home buyer. My agent made mistake on the offer letter and put down the wrong type of loan I have. She put that I had 30 year FHA loan with only 3.5% down. Which I don't, I have a 15/yr conventional with 10% down. Which to my understanding would put me in a better light with a seller as its a better loan. I informed her the offer letter was incorrect. She replied, sign it and she'd fix it. I said fix it then I'll sign it. This was on 3-27 late in the evening. I work long hours, I can't do anything home buying related till after I get off work. A fact I established with her right off the bat. The seller had multiple offers and we knew that. She didn't get the revised letter to me till 3:54pm on 3-28 (today) and messaged me that the seller wants all offer in by 5pm and to sign the letter on my phone at work. I couldn't read and sign everything. Nor could I just go on good faith that it was correct. So I missed the chance to get this home. The night of 3-26 I went into detail about my loan type. I also sent her all the official info about my loan. And when the official word came down from my lender they took it upon themselves to link her in the email. Sending the info to both of us. Should I find a new agent? [link] [comments]  |
| Help selling a house after a called off engagement. Posted: 28 Mar 2018 06:09 AM PDT (New Jersey-South Jersey Shore area) My (ex) fiancé and I bought a house together last December, about a year and a half ago. Recently she called off the wedding last minute (10 days before) and wants to split up. The house is in both of our names with the deed and everything like that. She wants to stay in the house and refinance it in her name only and I have no desire unless it is together and we are together which she wants no part of. But the more I think about this the more I don't want to allow her to stay there and would rather just sell the house. From the time we bought the house together up until very recently I've done nothing but work my ass off on fixing the house up and making it exactly how she wanted it and I'm not comfortable with her just reaping all the benefits of my hard work on the house. When I've brought up this point she still insists that unless I want to stay in the house alone that her staying and refinancing is our only option and that we can't afford to sell it at this time. I would like some input on my actual options for the situation and to find out if there is a chance of us selling it even if we do take a loss on it because at this point i don't really care about that. She shouldn't be able to stay there like nothing happened and reap all the benefits of having a house that we purchased together and I did 99% of the work on to fix and make her dream home. Please help! Kinda time sensitive as well as I'm not staying at the house right now and still contributing to the bills and mortgage and such. [link] [comments]  |
| I'm considering purchasing a home through owner financing, unsure of the process Posted: 28 Mar 2018 04:52 PM PDT I'm in the DFW region in TX and have been self employed for 10 months so a conventional mortgage is out of the question, so I found a house where the owner is offering owner financing. I looked online and understand the general process of owner financing, but I talked to the owner for a little today and this is what he told me.
Are any of these things out of the ordinary? If it does sound normal, is there anything I should know going into it? [link] [comments]  |
| Realistic price negotiation points as a first time homebuyer. Am I lowballing? Posted: 28 Mar 2018 09:17 AM PDT I am looking at purchasing a home in North Carolina that is markedly more expensive than other homes in its neighborhood for $100K. This home is listed at $125k, but the neighborhood homes are valued around $75-80K, with the closest being $95K. The home is newly renovated with some nice updates, but nothing that looks like a 30-40K improvement - they seem to be worth closer to $15-20K. I also know that I should be hesitant when purchasing the most expensive home in the neighborhood. Neighborhood value is projected to increase, but slower than the rest of the city. Home price has already dropped from $140K initially over the last 2 months. I feel like putting a purchase value at $100K makes it seem like I'm trying to lowball, but I honestly think it is a realistic value even before considering the value of the surrounding homes and area development. I haven't spoken with the seller yet, this is all from doing my research on the area and scoping the surrounding area out in person. I'm new to this, so am I being unrealistic with this price point? Are my expectations and understandings off center? I am looking to purchase the home, and live in it while i rent it out as well. Plan is to move out and rent it out completely in a few years. [link] [comments]  |
| HELOC for Down Payment before Selling Current House? Posted: 28 Mar 2018 09:34 PM PDT Currently own my house outright (never mortgaged) and am looking to move to another area this summer. We are close to having enough saved for a 20% down payment, but won't likely have it until late summer/fall and it would be cutting it close (leaving little emergency fund). We could wait, but it's not ideal for our situation and rates keep rising. A co-worker suggested we look into a HELOC. I'm worried both about the fees it's going to cost as well as any effects it will have on our credit/debt-to-income just months before we are looking to buy. Any input on whether or not this should be considered? We may also be able to list our house once we get pre-approved and hope we can do both a sell and a buy without being homeless in between. The market in my area seems pretty hot, and there are no other houses in the vicinity for sale now. Going this route, should I consider a pre-sale inspection to avoid any surprises (causing delays) on that front? [link] [comments]  |
| Posted: 28 Mar 2018 01:22 PM PDT Hi! I'm looking for your expertise on an issue. I just bought a home in Decatur, GA. The home is old, built in 1965. During the home inspection and numerous visits to the house (which was vacant/newly renovated), the only plumbing problem was a busted water heater and a kitchen sink that wouldn't drain. Both problems were remedied before the sale. Three days after we move in, the toilets don't flush, and the tubs & showers won't drain. We call the plumber. Turns out, a previous owner (not the seller, who was just an investor) made their own sewer line cleanout, and it started leaking when we moved in and started using the bathrooms. Yes, someone cut a damn hole in the line, and there was no actual sewer cleanout. So I had to fork over $2500 to get the pipe fixed, the line snaked, and a real sewer cleanout put in. Here are my questions: Is the home inspector or seller liable for any of this? They didn't know what was going on 4 feet under the backyard. Am I stuck with the bill? Is this just the cost of owning an old ass home? More than the money I spent (which hurts), it's the fact that I gotta fix something I didn't break. Thanks in advance for any advice. [link] [comments]  |
| Does anyone here buy notes or tax liens? Posted: 29 Mar 2018 01:11 AM PDT Just wondering what people's experiences were. I like the idea of owning the note, not dealing with tenants and evictions. [link] [comments]  |
| Selling house in Pakistan for $1.2m Posted: 28 Mar 2018 09:14 PM PDT My mother and her three sisters will soon be selling my deceased grandfather's house in Pakistan and the money will be split equally amongst the four of them. Three of the four sisters (including my mother) are US citizens, the fourth sister is a Pakistani citizen. Not sure if this detail is relevant, but my deceased grandfather was also a US citizen. Once they sell the house, what can my mother expect to pay in taxes when bringing her share of the sale back to the US? Are there any strategies to minimize the amount of tax paid? The house will likely sell for $1.2m, so each sister will get $300k. [link] [comments]  |
| Posted: 28 Mar 2018 03:13 PM PDT Does anyone know where I can find a free Excel spreadsheet template to set up a budget for a new HOA? As one of the few excel savy members of the HOA I've been tasked with Treasurer duties. [link] [comments]  |
| Building a home without a buyers agent [UT] Posted: 28 Mar 2018 06:08 PM PDT My wife and I were the couple that wondered into a model home, loved the builders work and the areas where they were building. We've since put down a lot deposit and are now in the contract negotiation phase. Since we didn't come in with an agent (didn't see the need) and are working with the builders agent, I want to ask for an incentive. I am thinking of asking for 2.5% of the total sales price to be used for any additional upgrades or closing costs. Is this fair? I would have to believe that there is cushion built into the builders "home prices" for agents, closing costs etc. and I want to make sure I'm not just walking in and paying the full sticker price like an idiot. Is there anything else I should consider? [link] [comments]  |
| Should we keep our house as a rental when we move to a different state (US)? Posted: 28 Mar 2018 11:33 PM PDT Has anyone owned a long-distance rental? Do property management companies do a good job? We own a house in a good area that we'd consider moving back to, but not until we retire in 20 plus years. Housing and land prices are going up here faster than other parts of the country, so if we sell it we'd be priced out later on, and think it's a good spot to remain invested in. We're moving a 14-hour drive away, and there aren't direct flights between here and the town we're moving to, so we'd have to hire someone to manage the house as a rental. We are mostly worried about the additional costs of using a property manager, and whether they'd do a good job of ensuring the house was taken care of. They also seem to take a long time when selecting applicants and we wouldn't want it sitting for an unnecessary length of time. My husband had a rental years ago, but it was next door and his dad was helping him out with it, so we're essentially new at this. Thank you for any advice or anecdotes! [link] [comments]  |
| First Time Buyer, Good Salary, Great Savings - How To Use My Money Wisely? [Toronto] Posted: 28 Mar 2018 09:33 PM PDT I've had two offers fall through so far and I'm starting to think I'm looking for the wrong thing. My wife and I want a house in Toronto, but the prices are ludicrously high. Maybe I should be looking at fixer-uppers instead of ready-to-move-in homes. These are questions I can ask my real estate agent but I'm losing faith in their objectivity. What do you guys think? If you could pay 200k - 300k down and made over 100k a year, and knew you wanted a house (not a condo / apartment) what would you do? I suck at real estate, but I'm learning. Thanks -az [link] [comments]  |
| 70k Down + Buy Points or 75k Down + No Points? Posted: 28 Mar 2018 09:17 PM PDT Guys, would it make sense to pay $3950 to buy my quoted mortgage interest rate down from 4.62 to 4.25? If I put 70k down on the property + the $3950 in points, my monthly mortgage will be $24 cheaper than if I was to put 75k down + no points. For me, having the cheaper payment and having an additional 1k in my pocket seems like the better deal. Including this purchase, I have a higher than average DTI which is why I'm trying to knock the payment down as much as possible. I just want to make sure I'm making the right decision. I plan on living in the home for a long time, at-least 10 years. This is for a 30 year fixed by the way, purchase price 293,500. What do you guys think? NJ [link] [comments]  |
| Update on Santa Cruz rent control Posted: 28 Mar 2018 12:03 PM PDT I posted this awhile back and have a few updates. https://reddit.com/r/RealEstate/comments/7str38/what_would_you_do_in_this_situation_rent_control/ I found out that this rent control initiative was only for the city of Santa Cruz. My Fourplex is just outside city limits so this would not apply to me if it hit the ballot or was passed by voters. What could potentially happen is that if it does pass it starts moving into the county. Since I had only been raising rents ~$50 a year i was quite under market. I ended up giving my tenants 75 days notice for a rent raise of 15-17% bringing them all up to 2,000 a month. They were not happy at all and I received a few angry phone calls and emails, but I kept it 100% professional. Even at 2,000 I am slightly under market so moving for them would cost more. The reason I'm doing this now is because rent control typically has a rent roll back, forcing landlords to roll back rents to a prior date. If it hits in 2020 I'll be safe (potentially) Anyway, just wanted to give everyone an update! Also some advice is to keep your rents as close to market! [link] [comments]  |
| [NY,NJ] First Time Homebuyer help me with my math. Posted: 28 Mar 2018 08:05 PM PDT They say you should do 1/3 mortgage+propterty tax, 1/3 living expense, and 1/3 savings. I am doing 1/2 mortgage/property tax and other other half living expense and maybe a few 100 bucks on saving per month. And I do have 401k that I contribute $300 a month to. At 92K a year, I net 5390 a month. I want to borrow $300K at %4.3 apr which will probably be around 1500 and property tax 1k a year. I have a 135K in the bank. My wife makes 45k, her career is not stable like mine. I'm trying to make it work on one salary. My wife salary just covers her personal expenses. I found a listing I want for $400K with close to 12K a year in property tax. I will downpay 100K and I will borrow 300K. I want to live in Glen Ridge, NJ for it's quick commute to the city and in general a nice area. I can't trust my agent she is always trying to close on me and never mentions any cons. But whatever. Am I asking for trouble? Is this a foreclosure in the making? I'll be paying 12K in property tax that should help my taxes giving me an exra $100 a month or something? And if case of emergency I could decrrease my 401 contributions and get $300 more a month. What do you guys think. Thanks so much. [link] [comments]  |
| Posted: 28 Mar 2018 07:24 PM PDT I am selling my house in Nashville, TN. The real estate agent promised the buyers a "pool inspection" The close date on the house selling is May 31. The problem is it's March. I don't want to pay to open my pool. And then have to hassle keeping all the maples keys, pay for the pool pump and electricity, clean it, check the chemicals daily. Do I have to do this? It is not in the contract. I know if it's not in there I don't have to do it, but what's wise/right thing to do? I should mention the buyer and the seller (me) are using the same agent. [link] [comments]  |
| First Time Home Buyer Looking for Mortgage Advice (NY) Posted: 28 Mar 2018 03:36 PM PDT Basically I just need to know if it's even possible for me to qualify for a mortgage, I've checked with 1 lender so far and she didn't seem enthusiastic about our chances. We (my fiance and I) are looking to qualify for a $75,000 mortgage. I have a 720 credit score, less than %20 DTI, and make $35,000 a year. My fiance makes more, but has a credit score under 600 so I'm thinking I need to qualify for the mortgage on my own. We are looking to put no more than %5 down. Does anyone have any recommendations or is this just an impossible dream at this point in time? [link] [comments]  |
| [Missouri] Question About Commission Rates Posted: 28 Mar 2018 03:22 PM PDT Hello all, I've had a bit of an odd inquiry come up, and I am not familiar with the matter as I normally deal in commercial real estate. I need to know what is generally "standard" commission for the sale of a $5,000,000+ home in the Midwest, specifically Kansas City or St. Louis. Additionally, how does the commission normally break down if the seller and buyer each have an agent; and, what is "normal" commission when there is a dual agent representing both buyer and seller? Thank you in advance, /r/RealEstate! [link] [comments]  |
| Posted: 28 Mar 2018 06:34 PM PDT I live in the country and my wife is wanting to move closer to town. I live in east Texas. I make roughly 50,000 a year. She works part time and makes around 15,000. Almost all of my are bills paid through my company aside from one car payment around 350. I own a paid off house worth 190,000-210,000. Wondering what a reasonable price is I can afford on a new home. Credit score is around 750. Just a ballpark estimate would greatly help. Also should I rent out my current home or sell? [link] [comments]  |
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