Mortgage shopping is getting me no where Real Estate |
- Mortgage shopping is getting me no where
- Is now a good time to buy a house?
- Our Realtor may have extended our option period without verbal or written permission from us.
- Working with two lenders... when should I break up with 1
- Buying a home in Mass
- Foundation Question
- How can I watch a house being built?
- i just became a real estate salesman i need some tips
- V.A. Loan Question
- FHA appraisal for a Mixed Use building (Chicago)
- Possible Private Sale - Their realtor wants a cut of our home? (CA)
- Why would a realtor raise the price of a house before removing the listing?
- Feels like something changed, at least my my market as a buyer the market has cooled a bit based on realtors begging for business
- Question about due diligence period
- Rule of thumb for repairs on single family.
- first time prospective buyer in Bronx NY
- [Michigan] Mortgage based on tax of the current owner?
- General Contractors Cost On New Construction? [NM]
- Is there a way to sell a house before its completed (before it is financed)?
- College student/ investment
- Closing on home Wednesday need advice about equity
- Grants for first time homebuyers
- [CA] Sell rental property?
| Mortgage shopping is getting me no where Posted: 29 Mar 2018 04:24 PM PDT We have been looking for a house for the past year and finally found something we want to make an offer on. We have looked at more houses than I care to share. I'm not getting any better rates or deals with mortgages when I get quotes from various companies (I've called three banks, including mine and my husband's). They're all giving us the same deal: 30 year fixed rate at 4.625% with 20% down. They all are willing to match each other when it comes to processing and underwriting fees, but nothing special there. Is it likely to find a mortgage company that will really offer something different, or am I wasting my time? What major areas can I expect to change between various companies? Any suggestions who to call? So far I've tried community bank, fifth third, and Bank of America. [link] [comments]  |
| Is now a good time to buy a house? Posted: 29 Mar 2018 05:06 PM PDT Rates are starting to rise and I'm not sure if a correction in the housing market will happen anytime soon. I missed the opportunity after the financial crisis in 2008 but I am now ready to purchase a house, most likely a condo. I reside in the Los Angeles area so everywhere seems to be overpriced right now. Ideally, I'd like live out in Pasadena, Burbank or Torrance. [link] [comments]  |
| Our Realtor may have extended our option period without verbal or written permission from us. Posted: 29 Mar 2018 08:24 PM PDT We are located in Texas. Just looking for any advice on this issue, as my husband and I have had numerous issues with our realtor. This is almost two separate issues and long so please bare with me. On 3/12 my husband and I signed and accepted an offer on our home. Their option period was to last until 3/22. The buyers had an inspection and wanted a second inspection on our homes foundation. They wanted a specific company to come out, and in order for that to happen they requested to extend their option period to 3/26. We agreed and signed a contract extension to that date. During this time, my husband and I put an offer on a home and it was accepted, so we entered into contract. Our option period ends 3/31. After our buyers foundation inspection came back, our realtor opened the report without talking to us. So now we will be forced to add it to the sellers disclosures. It came back that we would need $9,000-$12000 worth of repairs. The report was from a known shady company and the measurements and write up didn't make a lot of sense. On Sunday they agreed to go through with the purchase on our home if we fixed the foundation. Their lender would not let them receive a check for compensation so we agreed to pay for the repairs ourselves before closing on 4/20. However we wanted to use our own company and get a few more quotes and professional opinions. Everyone agreed. Monday 3/26 rolled around, and they never officially backed out. And Monday night at midnight, my husband and I assumed the option period had ended. The MLS even updated on our listing to pending. Tuesday I spent all day gathering quotes and scheduling foundation companies to come take a look. We were doing payment at closing, so this was a bit of a task. One company came out yesterday, 3/28, and as suspected, the buyers report was wrong and we didn't need that much work. I was scheduled to have 4 more companies next week come out for quotes, but we had time to do the repairs before closing. Here is where the trouble starts. Last night our realtor text us that the buyers had backed out. They didn't want to risk more issuers with the foundation. My husband and I were upset because we thought we were a full 2 almost 3 days out of option period. Our realtor told us the option period was extended while we gathered bids for the foundation work. My husband and I never agreed to this. Not verbally or written. The contract extension we signed only lasted until 3/26. As far as we knew we were locked into contract and moving forward with repairs and closing on 4/20. Now that we've lost the buyers, the only way we can get our new house we are under contract for, is if the seller approves a contingency clause. And it's looking doubtful. So we have basically lost our new house, and are now forced to disclose the foundation report that they sent us, which isn't honest. So buyers will be harder to come by. Our realtor said we were not entitled to the buyers earnest money, since the option period was extended. So we wasted 16 days off the market with these buyers and most likely lost our new home. Since this our realtor has been hard to get ahold of and we want answers. I feel like they were all in breach of contract for backing out after 3/26. Was our realtor allowed to extend our option period without telling us and without us signing anything or even notifying us? As far as I know this could be common practice. But we are feeling lied to by her. Any advice would be appreciated. [link] [comments]  |
| Working with two lenders... when should I break up with 1 Posted: 29 Mar 2018 09:21 PM PDT My wife and I are purchasing a new construction in California. I am a veteran and we are using the VA loan. I am a first time home buyer. We initially got introduced to a family friend to see where we stand in terms of how much we qualify for. He works for a lending company and to our surprise he pre-qualified us for $385,000. We found the house we wanted for $376,000. At this point, we needed to get cross qualified with the builders lender of choice, and we succeeded. We told them that we are working with another lender, but they insisted that we go through "the process" with them as well because they were offering $7000 towards closing costs. I locked in the rate of 4.50% with a .250 point with both lenders, and the family friend's company is going to match the $7000 towards closing costs. I am now at the point of signing disclosures with both lenders and since they are both offering the same interest rates and closing costs, should I still proceed with both lenders? At what point should I ultimately choose 1 lender. I am leaning towards the family friend since we started with him, but the only reason I would switch to the builder's lender is if the other can't close on time. Summary: Two lenders with same interest rate and same incentives. Started signing disclosures with both and both promised the same closing date. At what point during the process should I cut 1 lender out? What point is the ethical choice? Edit: family friend's company has ordered an appraisal, while the other has not. [link] [comments]  |
| Posted: 29 Mar 2018 04:01 PM PDT My aunt is selling us her house in southeastern Massachusetts. It has a cesspool, it will pass a title V inspection. Her lawyer says she cannot sell the house with a cesspool. Everything I have looked at shows she can sell the house if the title V inspection comes back good. Any realtors or real estate lawers knows whats up? [link] [comments]  |
| Posted: 29 Mar 2018 05:16 PM PDT So the wife and I have found the perfect home to raise our children in. Schools are perfect, neighborhood is perfect but the house isn't without its issues. Houston area. We're within our option period and had the house inspected. It came back that it needed a new roof and foundation work. The house has sunk 2 inches in the front two corners, 1.5 inches in one of the back corners, and it's near level in the other. There are visual sign of shifting with doors dragging and cracked tile in the front of the house. The sellers have agreed to a new roof but they're not agreeing on the price for the foundation repair. I had a foundation company check it out and they estimated it close to 8k to level the foundation. The sellers had their own estimate done and it came back at 3k for what they called a "prevention". I'm not sure what that means. Has anyone had to deal with this kinda thing from sellers, if so how did y'all go about negotiating? The comps support their asking price with a new roof but not with this foundation work. [link] [comments]  |
| How can I watch a house being built? Posted: 30 Mar 2018 12:41 AM PDT I want to be a spectator while a house is being built from start to finish. How would I find houses under construction in my area, preferably before the building has began? Are spectators even allowed? Are there any videos or series that exist that I could find online that film the entire process and explain it? I'm from Ohio if its relevant, thanks. [link] [comments]  |
| i just became a real estate salesman i need some tips Posted: 29 Mar 2018 11:54 PM PDT Sydney hello i used to be a property officer in real estate but i got a job as a salesman. yesterday was my second day and i already got a land to sell on my first day from cold calling. i just want some advise on how to be more successful in this business. do i keep cold calling people and knocking on door to get sales my entire life? or things will change? is cold calling and door knocking the only way? [link] [comments]  |
| Posted: 29 Mar 2018 10:27 PM PDT Not sure if this is the right sub to ask this question (if not, please steer me in the right direction). My wife and I just had our offer accepted (FINALLY) on a home (manufactued, not mobile) on a pretty nice 2.5 acre piece of property. From what I understand, the V.A. is pretty anal when it comes to inspections; when it comes to the inspection (or anything else for that matter), what are some things that could possibly keep us from getting the house? This will be our first home purchase and we are pretty excited that we finally had an offer accepted. If there's anything we can do to keep this from getting derailed (from our standpoint, or by working with the current homeowners) we would like to do so as early as possible, we really like the home and the property. Hopefully I'm not too vague with my question, if any clarification is needed I will be as prompt as humanly possible. Thank you in advance to anyone who has experience dealing with this who can help is out. *Edit prompted by bot, not sure that it really matters with the question I am asking, but location is Cedar City, Utah. [link] [comments]  |
| FHA appraisal for a Mixed Use building (Chicago) Posted: 29 Mar 2018 02:56 PM PDT I'm in the process of purchasing a 3 flat with a commercial first floor through an FHA loan. It is compliant for an FHA loan as less than 49% of the space is used for commercial, and my bank is on board with moving forward. We have hit a roadblock in getting it appraised, however. The few appraisers the bank has contacted have been unable to do it, all due to the commercial first floor. I realize this is not a common loan for this property type, but it does meet all the requirements for an FHA loan otherwise. Has anyone had any experience doing an FHA on a mixed use building, or have any insight into getting the appraisal done, or could recommend an FHA appraiser that does mixed use buildings? This process has been nightmarish in length and complications, but I'm hoping this will be close to the end of the hurdles, so any help would be greatly appreciated!! Thanks! [link] [comments]  |
| Possible Private Sale - Their realtor wants a cut of our home? (CA) Posted: 29 Mar 2018 11:48 AM PDT Apologies, not familiar with Realtors and how they make money (never used one). My wife and I were looking at larger homes in our neighborhood and came across a neighbor that wants to downsize and likes our home. We were discussing a private sale, essentially a house swap. They have a realtor though and now that realtor is coming back to me saying they would list my house at a reduced commission (2.5%). The other home has the 5% intact. But, why would I pay them to list at all? I previously bought my home without a realtor and the seller didn't have a realtor, so I am really confused at this process now. Am I missing something here, why should their realtor get a cut of my home, when I brought my property forward to them? How do realtors get paid, a commission on the sale and purchase? Right now this guy has done jack-all towards my and the home owner's meeting or knowledge of each others homes. We knew each other from the neighborhood and discussed privately. Anyways, didn't get a great feeling from the Realtor and I said it sounds like a bunk offer and I don't want to pay commission on my home. Now the other home owner is unsure of how to proceed because the Realtor doesn't want him to move forward. I am fine if we don't move forward on a sale, but I really want to know if I am in the wrong in this situation? Is it normal practice? I also feel it is somewhat unethical for a person to try to represent both sides of an agreement/sale/contract/etc. Would anyone help clear up this practice for me? [link] [comments]  |
| Why would a realtor raise the price of a house before removing the listing? Posted: 29 Mar 2018 11:32 AM PDT I hope this is the right forum to ask, please let me know if not. We are located in South Carolina. My family made the decision to put our house on the market in October of 2016 and signed a contract with a realtor. After a year with very little contact with the realtor and zero showings or interest, we decided to switch realtors. We have had several requests to view the house which is awesome, but I noticed something when I was looking at our listing. It looks like the same day the previous realtor removed our listing online, she increased the asking price by $125,000 then removed the house. The house is currently listed for $35,000 below the original price (under the old realtor), but I'm concerned the massive difference is going to look bad to potential buyers. Does something like that even matter, or am I just digging for more reasons to dislike her? [link] [comments]  |
| Posted: 29 Mar 2018 01:13 PM PDT I've been in the market for about 5 months, have made a few formal offers, worked with 2 agents/brokers seriously. last fall I was begging agents and brokers to give me the time of day - giving me the right analysis, suggestions, etc. fast forward and i've taken a breather from aggressively looking for a place, and just about every form or file i've filled out that has his a realtor or broker over the past 6 months are now all calling me, texting me, emailing, etc. just an observation. I'm in southern california for reference. [link] [comments]  |
| Question about due diligence period Posted: 29 Mar 2018 04:33 PM PDT Hey everyone, So let me start off with saying I am not happy with my realtor and if this deal falls through then I will not be using her moving forward. This is in south east michigan I have an offer that has been accepted and during due diligence I found some issues that I requested be fixed by the seller. I was told that some of the issues would be fixed last week. monday was the end of my due diligence and I was happy with what was found and what I thought was to happen next. Only to find out, today, that the seller was only going to fix one of two major issues. My realtor said that I should look at that and we are already so close to closing that I should just accept it and fix it once I own it. The issue is non critical plumbing in the basement where the basement sink is deposited into the sub pump and is illegal. I told her I was not ok with that without knowing how much it would cost to get this fixed and did not get an estimate because I did not know it was not going to be fixed until almost a week later. What rights do I have here and will I lose me EMD if I back out because I did not know it was not getting fixed until after due diligence? I am in no rush to move and am fine if this deal falls through I just want to know my rights and repercussions. [link] [comments]  |
| Rule of thumb for repairs on single family. Posted: 29 Mar 2018 12:30 PM PDT Just looking for how much to estimate to out back for repairs on a single family. [link] [comments]  |
| first time prospective buyer in Bronx NY Posted: 29 Mar 2018 03:59 PM PDT i am looking around on zillow and am glad to find some affordable locations, however i am curious what sort of taxation i should expect. also, so far the list of expenses appears be; mortgage, insurance, utilities and taxes. is that complete list or are there other monthly costs like hookup fees for water or anything? apologies if these are noob questions [link] [comments]  |
| [Michigan] Mortgage based on tax of the current owner? Posted: 29 Mar 2018 03:25 PM PDT I am buying a house from an extended family. This house is a second home for my uncle so the tax is quite high. Is it true that the mortgage will be based on his taxes when I buy? Trying to tackle the big and scary word MORTGAGE. Also would this still be considered a "relative-relative sale" since it's not parent-child? [link] [comments]  |
| General Contractors Cost On New Construction? [NM] Posted: 29 Mar 2018 09:26 AM PDT [New Mexico] Good afternoon, I'm curious to see what others' experiences have been when dealing with general contractors during a new construction? My searches online have shown a variety of information ranging from fee-based to percentage based on the cost of the build. I would like to have a better idea on what is commonly being charged today. Thanks for any input. [link] [comments]  |
| Is there a way to sell a house before its completed (before it is financed)? Posted: 29 Mar 2018 03:10 PM PDT My brother bought a house on plan from a builder a few months ago. He gave $4k and when the house is finished (in a month or two) he will have to get a loan and pay off the builder. He has a loan set up already. He is having second thoughts about the house now. He will pay $200k for the house and it is valued at $230k or so. His real estate agent says he needs to sell for $235k or more to break even. That is after commissions and all the financing fees. My question is can he sell the house before he finances it? He doesnt want to pay the financing costs for just a month or two of home ownership. Any other creative ways to get out of the deal and not lose the $4k? Thanks for the help [link] [comments]  |
| Posted: 29 Mar 2018 02:21 PM PDT Hello, I am new to this forum and was just wondering the opinions of people with experience. I am located in the myrtle beach South Carolina area. I have been reading and looking around for awhile now at purchasing a house instead of renting an apartment. The idea is to buy a house and begin renting it out to friends while living there as well at first. I would eventually move out and rent to new tenants. I know renting to friends is not the best but they are people I trust and will have contracts of course. For the financial aspect, I have a car that I purchased myself with cash down and could easily trade it in and get around 25k cash I could use as a down payment/other investments on the house (and purchase another car,) I am really just curious if it would be worth it to take on this responsibility or should I wait. My credit score is above 700 as well. I have a steady income from bar-tending/serving as well as some saved. An example house would be priced at $295k 4 bedroom 4 bath (wishful thinking) with 15k down 30 year @ 4.3% will be $1385 a month PMI, Insurance, Taxes would be $350 Utilities on avg $200 Just under $2k monthly (estimate not all fee's and all calculated just rough estimates.) 4 people would be $550 each Avg rent for a house per room would be $650-$700 1 @ $700 2 @ $650 After all of this I would have to pay $100 a month total to still stay here. would this be worth it? This is just an idea, almost $300k is pushing it for a house and is unlikely. I just want to know the probability of this even with a cheaper house. Any feedback appreciated [link] [comments]  |
| Closing on home Wednesday need advice about equity Posted: 29 Mar 2018 12:35 PM PDT Will a co borrower affect you at closing if they had a foreclosure on your home before you were married? My husband is on title but I am the owner of the house we are selling. I am not on the house he foreclosed on 3 years ago. Will this hurt me if I'm selling the house in my name if he is the co borrow with me on the home we are selling? Also, is there anyway I can get out this? [link] [comments]  |
| Grants for first time homebuyers Posted: 29 Mar 2018 12:16 PM PDT I am in the process of purchasing my first home. Contracts are signed and I'm working on mortgage and board approval. When I got my preapproval, a mortgage broker from Chase recommended I look into some first time homebuyer grants for some extra cash to add to the down payment I already have and for renovations (I was immediately skeptical because I believe nothing is free). Nonetheless, I did a ton of research and came up with absolutely nothing. The only thing I could find were HPD grants, but I do not qualify because the salary cap is around $50k. Has anyone had any success in locating any grants? The broker said they're typically for people who make under $140k, but as I said, the only one I could find was for people with salaries around $50k. Any insight would be very much appreciated! [link] [comments]  |
| Posted: 29 Mar 2018 11:56 AM PDT My parents purchased a home in 1991. In 2003 they decided to purchase a new home and keep the original house as a rental property. I currently live in the original home, as a renter. Since my father passed, income has been decreased and my mom is struggling to afford her current home. Would it be worth it to sell the original 1991 home and use the earnings towards the 2003 house? I know there is a tax on the sale of a rental home but I'm not sure how much it is. I'm new to real estate but I'm trying to make the smartest move. [link] [comments]  |
| You are subscribed to email updates from HomeOwners & Investors. To stop receiving these emails, you may unsubscribe now. | Email delivery powered by Google |
| Google, 1600 Amphitheatre Parkway, Mountain View, CA 94043, United States | |
No comments:
Post a Comment