Realtors: How many not-yet-on-the-market listings do you have prepared & why are your sellers waiting to list them? Real Estate |
- Realtors: How many not-yet-on-the-market listings do you have prepared & why are your sellers waiting to list them?
- What is the average down payment of a first time home buyer and what was your down payment on your first home?
- Selling family land worth ~$750k, how to reinvest smartly and avoid paying capital gains tax?
- What RE advice would you give your 20 y/o self? (PHX)
- Buying a home with 10 other people
- [OR] The house of an estranged parent goes up for auction next week. Do we have a chance at it?
- Selling a house we inherited to the realtor who we asked to list the home? (WA)
- First time home buyer..many questions
- A TON of new luxury apartments going up near where I work. How does this affect housing values?
- Can I buy a house if my only income is SSDI? (OH)
- Beautiful property under contract not closed, any way we can still get it?
- Will I be expected to drive around clients?
- Brokerages are sent the listing from a seller, and then all of their agents compete to sell it?
- Dallas Texas looking for someone who can research the title on a house, make sure there are no hidden liens and such. PM me.
- Closing date and TOE letter, Need some insight
- Seller will not release escrow (NY)
- Why won’t potential buyers sign with me as an agent?
- Question regarding failed thermopane seals on multiple windows.
- Inspection question
- Closing on my first on on Thursday. Realtor just scared the shit out of me! Credit check question
- Do Fannie Mae and/or Freddie Mac have minimum square footage requirements?
- Incompetent title company...any recourse?
- Fake counteroffer?
- Looking to purchase a property. Question on down payment.
| Posted: 27 Mar 2018 06:04 PM PDT I keep hearing that there are many listings just waiting for the right time to list. I'm very eager to buy something, but inventory is currently so limited. I will say, though, that it seems to have improved in the past week, but not as much as I would have expected it to by now. [link] [comments]  |
| Posted: 27 Mar 2018 06:39 PM PDT |
| Selling family land worth ~$750k, how to reinvest smartly and avoid paying capital gains tax? Posted: 27 Mar 2018 10:21 PM PDT [USA-WA] Our family is selling old family land worth roughly $750k. We are looking to reinvest the money and defer paying capital gains tax in the process by means of a 1031 Like-Kind exchange. Looking for plot of land possibly in the Washington state/pacific northwest area on which to build permanent or semi-permanent housing structures to rent out to weekend tourists, families, etc. Any advice is greatly appreciated! [link] [comments]  |
| What RE advice would you give your 20 y/o self? (PHX) Posted: 27 Mar 2018 11:06 AM PDT (PHX) College student here! Going to school for Construction Management and Real Estate. I'm looking to pursue a career in land development eventually gravitating towards personal RE investments. If you could go back and give yourself one piece of advice about real estate what would it be? Please include your career path and/or investing history! [link] [comments]  |
| Buying a home with 10 other people Posted: 27 Mar 2018 07:24 PM PDT My friends and I are floating the idea of buying a home near a vacation area so that we could have a place to go on the weekends and also potentially rent out etc. We don't want a timeshare because we'd also like to own the place. Is this easy to do? How feasible is this [link] [comments]  |
| [OR] The house of an estranged parent goes up for auction next week. Do we have a chance at it? Posted: 27 Mar 2018 06:59 PM PDT My wife just learned that her estranged parent has somehow lost control of their property; it will be auctioned off in a few days time. Taxes or mortgage, we don't know, but we're trying to find out. We don't even know who holds the deed; online tools have been unhelpful. It may be the parent, or it may be a mortgage lender, the information we've found is unclear. What my wife and I want to know is, is there any way we could undercut or jump the auction? The property is such that if it goes to auction, we will absolutely be outbid. We've heard there are benefits to parent-child property transfers, but we have little more than 10% of what's still owed on the house. We understand this is a long shot, but my wife really wants that house. [link] [comments]  |
| Selling a house we inherited to the realtor who we asked to list the home? (WA) Posted: 27 Mar 2018 06:32 PM PDT Hello, My co-executor and I are trying to sell a house we inherited in Bellingham, WA. It is a 1,020 sqft house with 2br/1ba with an estimate on Zillow of 305k and 295k on RedFin (I know Zillow and Redfin estimates can be way off). Both myself and the co-executor are out of state so handling any repairs/maintenance is difficult. Our realtor said the house is in good shape overall with no significant expenses he saw and stated that the comps in the area ranged from $265k to $350k. When our realtor walked through the place without myself or my co-executor he essentially gave us 3 options and an estimate for possible prices, which I have written below. Option #1 – Sell it AS-IS to an investor/flipper or someone looking for a project. Estimated price $250k Option #2 - Do the minimum to get the home clean and presentable, and enough to ensure a bank will be okay to finance a buy purchasing the house. Some things that he told us needed to be done include, new floors, re-paint inside and out, furnace services, smoke/carbon monoxide detectors installed, junk removal from various rooms, new light fixtures in some rooms and a new dishwasher. Estimated Price $300k Option #3 - Estimate of 350k but it involves a complete remodel. When this information was presented to us he mentioned that he may be interested in buying the place as he does a few flips a year. My co-executor and I felt a little weird that he would present that offer while also telling us how much he thinks the house is worth. My co-executor eventually asked the realtor what he would offer for the house and he replied with an offer of $235k in cash, close in two weeks, with no contingencies and he said he would pay for an appraisal if we wanted, to reduce some liability of us coming back later claiming he tried to pull a fast one on us. He states that he offered $235k because that is what we would receive after commission if we sold for $250k. Am I right to feel like I am potentially being taken advantage of? I apologize for the insane amount of text but I wanted to include as much information that may be relevant. Let me know if you have any questions. Thank You! TL;DR - Realtor did a walk through of a house I am co-executor of and stated that he felt the house would sell for $250k as is. After talking about the possibility the realtor states he would pay $235k in cash for the house. Am I right to feel like I am possibility getting taken advantage of? What are your thoughts? [link] [comments]  |
| First time home buyer..many questions Posted: 27 Mar 2018 05:44 PM PDT I will be a first time homebuyer. Plan to use the VA loan (mostly for 0 down and PMI included). I make 37,600$ pre tax a year. Single worker household. 800 credit score. Only monthly payment is a vehicle for 331$. I'd like to get an idea of how much home I can afford without having my credit ran over and over. Any ideas or suggestions? [link] [comments]  |
| A TON of new luxury apartments going up near where I work. How does this affect housing values? Posted: 27 Mar 2018 10:46 AM PDT Deciding whether I should buy or not. On one hand, I'm thinking the flood of new oversupply is going to relieve demand pressures, but on the other, these are brand new luxury apartments that could increase the baseline for the area. Does anybody have any experience with loads of newbuilds in their area? I live in SD, so it's not a super crazy market like SF or LA, but it is California... so yeah. [link] [comments]  |
| Can I buy a house if my only income is SSDI? (OH) Posted: 27 Mar 2018 06:12 PM PDT I know normally the answer would be no. However, there are a few things that make me think yes. These are: -low home prices in the area I'm looking (avg 100,000) and I plan on buying on the lower end of that - I have $13,000 saved. -My credit score is over 800. -I currently have $0 in debt. I make $1,466 a month. I am eligible for downpayment assistance if I decide to buy a house. I'm tired of living in crappy apartments. I am working on getting back to work, but right now, my disability is impeding that. I have Sec 8, but they don't do homeownership vouchers here :( Thank you! [link] [comments]  |
| Beautiful property under contract not closed, any way we can still get it? Posted: 27 Mar 2018 09:26 AM PDT Our loan person was out that week and someone else showed up with firm financing in place. Is there any hope here? Its perfect. We are literally heartbroken at it being gone. 10 acres with woods and a pond, fenced, two big storage buildings, massive walk out basement and two car garage. I've looked, there are no similar properties around to even think about as an alternative. Close enough to town to be on city utilities with normal cable/internet and on blacktop. There's literally nothing similar in 20 miles. In southeast kansas. [link] [comments]  |
| Will I be expected to drive around clients? Posted: 27 Mar 2018 02:48 PM PDT I just started my pre-licensing course in CT. One thing I thought of today, will I be expected to drive clients to and from properties a regular basis? My car only has two seats, and there isn't much storage other than the passenger seat. [link] [comments]  |
| Brokerages are sent the listing from a seller, and then all of their agents compete to sell it? Posted: 27 Mar 2018 09:09 AM PDT Is that how it works? Kind of confused with it all and was wondering. [link] [comments]  |
| Posted: 27 Mar 2018 11:13 PM PDT Dallas Texas looking for someone who can research the title on a house, make sure there are no hidden liens and such. PM me. I want to see if there are any 2nd mortgages, tax liens, hoa liens, anything that hasn't made the regular internet searches (like, liens that have attached in the past six months. I have a property that looks free of everythign except the rest of the mortgage and hoa lien. I am about 85 - 90% sure. I want to be >99.9% sure. I am looking for a reliable company in Dallas Texas that will be able to get me some (hopefully quick) research done that will see if there's anything I have missed. I don't think I have but I understand they probably have access to more databases than I do. Thanks and please reply or PM your suggestions! Thank you. This is for a foreclosure, in a part of town I've been looking at, and is NOT going to be a flip. Sick of renting and kicking my rear daily for not buying in 2008 - 2012 [link] [comments]  |
| Closing date and TOE letter, Need some insight Posted: 27 Mar 2018 11:55 AM PDT I have some questions and concerns regarding a current contract I am waiting to close on, I am in NYC. Contract was signed in January with 60 days to fully close the deal. We've been back and forth on the sellers holding off and I have lost all interest in continuing and would rather start looking for another home. Unfortunately they are now ready to close after various hostile interactions back and forth between their agent, our agent and lawyers such that they don't respond, insult and or disregard messages asking for updates. Its been a major waste of time and headache dealing with them. I would much rather just get my down-payment back and look for another home but at this point my attorneys paralegal said it is too late. Our only option would be to have a mutual agreement to cancel this contract but given that they are waiting on the sale of their home to us that is almost impossible. And if they were not ready by April 11th to close, which is the 60 day mark, only then could they be served an TOE letter which would have to give them an additional 30 days. Is there any other way to try to get out of this nightmare, I tried to schedule another house tour but again was met with no response and I just casually drove by and saw that there was still garbage and equipment in the backyard even though they said it would be clear after the inspection takes place. [link] [comments]  |
| Seller will not release escrow (NY) Posted: 27 Mar 2018 09:58 AM PDT During our walkthrough we found that the seller did not take care of a few things. Our lawyer negotiated some escrow money to be held until these things were fixed. This was negotiated at the closing table between both lawyers and clients. We have signed legal documents. We tried contacting them, our lawyer tried contacting them and their lawyer tried to contact them but we were all ignored. Our lawyer DID email us one night around 6pm to see if they could come by "later tonight" to remove a giant tree in the backyard. I asked if they could plan for a tree removal during the day since we have an infant and using a chainsaw at night seemed unreasonable. Or just to give us more notice so we can leave. It was already 6pm. We didn't hear from them after that. It's been over a month and we asked for our escrow money back. The seller is refusing but will agree to partial. Our lawyer suggested taking them to small claims court on our own to get our money back. Is this how escrow works? [link] [comments]  |
| Why won’t potential buyers sign with me as an agent? Posted: 27 Mar 2018 12:31 PM PDT I am 24 years old, have a day job with my military affiliation and try my best to communicate to them throughout the day and after work I'm all real estate. I have had a few opportunities with potentials but fall short of getting them as clients. What can I do better to either overcome my (apparent) barrier? Is it my personality? [link] [comments]  |
| Question regarding failed thermopane seals on multiple windows. Posted: 27 Mar 2018 05:22 PM PDT Hey first time home buyer in northwest IL. House is gorgeous fell in love with it pretty quickly due to location, room, gorgeous backyard, finished basement etc. However after the inspection it would appear the thermopanes failed on just about every window in the house. It did have some other issues overall and we have submitted a list of things we request be fixed or dealt with before buying. The other things aren't too bad but light research shows that replacing these thermopanes will be pretty steep. Using a VA loan, have a realtor and lawyer already, my wife seems like she wants to back out. I really like this house but acknowledge it's an issue. So my question is, how critical is the replacement of thermopanes? Is it something that needs to be done ASAP? Can it wait at all and if so roughly how long? [link] [comments]  |
| Posted: 27 Mar 2018 04:43 PM PDT We are selling our home in missouri and the inspection is set for tomorrow. It just started raining a crap ton here and during a walk around the house doing our own personal inspection we found a spot were our roof is leaking through the soffit. My question is should i disclose this before the inspector gets here? It's a small spot where the pitch isn't steep enough, would be a easy repair and one we would gladly do. [link] [comments]  |
| Closing on my first on on Thursday. Realtor just scared the shit out of me! Credit check question Posted: 27 Mar 2018 04:34 PM PDT A little background information to start: My dad and I share the same name (I have a suffix - II) we also share the same address until my home purchase goes through. I put an offer in on a house on March 3rd. Part of what made my offer so appealing is that I could close very quickly, we are scheduled to close on the 29th. I secured a loan and everything seems to be fine. Flash forward to last night. My dad sends me a picture message of a letter from PNC Bank welcoming our name to their online banking. Neither of us opened up a bank account, and he tells me it looks like someone opened up an account in our name / one of our social security #s. I immediately start freaking out, but after some sleuthing it is discovered that my father purchased a car around 2 weeks ago and his loan was through PNC bank, problem solved - I laughed about it and went on with my night. Today my realtor calls me and makes sure I took care of everything I had to in order to continue on to closing which I did. I mention how I was freaking out over nothing last night because my father made me think someone stole my social security number because he got a letter in the mail, the punchline being that it was just his auto loan that he had forgotten about. After I said this my realtor was like oh....yeah that might be a problem for us, because we share the same name and address and they might end up declining my loan because he bought this car and they might think it is me. So now I'm freaking out again. Is this factual and something I have to worry about? The lender sent me my loan disclosure forms and everything today in preparation for closing and everything seemed fine. Thoughts? [link] [comments]  |
| Do Fannie Mae and/or Freddie Mac have minimum square footage requirements? Posted: 27 Mar 2018 03:53 PM PDT In other words, are homes under a certain size ineligible for conventional financing because lenders wouldn't be able to sell them on the secondary market? Edit: Per the "LocationBot" nagging me about leaving out my location, I'm in Washington state. But I don't think that's relevant to my question. [link] [comments]  |
| Incompetent title company...any recourse? Posted: 27 Mar 2018 07:34 PM PDT I'm two days away from closing on a house - through the course of this (seemingly straightforward) escrow, we all have slowly been realizing that we are dealing with a completely incompetent, borderline negligent, title company. I'll spare the tl;dr gory details (unless anyone wants to hear them), but it seems like despite their best efforts, this thing is actually going to close. Knock on wood. Beyond writing a scathing Yelp review or something...is there any way we can actually hold this company accountable for their sheer dumbassery? We didn't have a say in choosing them - seller's choice (I'm assuming that's normal?) My lender, who is out of town, says this is one of the worst title companies he's worked with in 23 years of experience. My realtor's agency has a blanket policy never to deal with them if they have the choice. I'm just done with this process. No idea how y'all RE pros put up with this kind of bullshit all day! Anyway...just needed to rant. (California) [link] [comments]  |
| Posted: 27 Mar 2018 02:59 PM PDT My wife and I recently made an offer on a house. There was a bidding war (unusual for our area) and our realtor used an escalation clause so that we could beat out counteroffers by $2k increments up to our max price. We set our max price really high to increase the chance that we'd win the property. The seller, which is a nonprofit and not a traditional real estate company, came back with an offer on their letterhead for just a few hundred under our max price. There are some other fishy things about the counteroffer (e.g., it actually looks like it matched ours exactly and is not under at all, but the seller told us we won the bid). Our max price is way over the likely market value of the house (we were honestly not expecting anyone to match it). We have an appraisal contingency in the offer, but are concerned that the appraiser is unlikely to go much below the agreed upon sales price (see here: https://theappraisercoach.com/why-most-purchase-appraisals-should-come-in-just-above-the-purchase-price/). What would you recommend in this situation? [link] [comments]  |
| Looking to purchase a property. Question on down payment. Posted: 27 Mar 2018 02:21 PM PDT Better larger down payment and lower monthly payment or the opposite? What factors would this decision be based on? Monthly payment will be 30% of my income after tax. It's sorta a fixer upper. I would say 50k worth of work do on it. Planning to live in it for at least 5 yrs. [link] [comments]  |
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