When I put an offer on my house I was told there was another bidder and to raise my offer. I suspect there never was another bidder. Any way to find out for sure? Real Estate |
- When I put an offer on my house I was told there was another bidder and to raise my offer. I suspect there never was another bidder. Any way to find out for sure?
- Can the city come inspect the inside of my home?
- How many homes have you seen?
- Can I use the owner occupied tax break for a mixed use property where I also depreciated
- Help!
- Ad advice anyone... please! New realtor. Best ways to advertise? Ad ideas? Best return for my money (newspaper ads, radio, etc..) thanks in advance!
- Has anyone ever written a lease that involves cash and barter?
- Did I do something wrong?
- Estimate Mortgage Prepaids and Escrow
- Just venting. New construction plumbing snafu.
- 1st time homebuyer questions
- [NY] Interested in buying land and building a home. What do I need to know?
- Signing a contract for a new home purchase, what precautions should I take if any?
- Best 2018 real estate market to invest $300k
- Selling land after a house burns down?
- Buying first home in the central valley in California. Am I paying to much for this home?
- Does this sound like a rental scam?
- Why do I need a realtor (as a buyer)?
- [MI] How does buying a house with high radon levels and having it mitigated affect its resale value?
- Found bee hive damage in the ceiling of house we just bought..any legal recourse? Should we go ahead with the repair before taking legal action?
- Short-term Rentals / Owner Occupied Loan(TX)
| Posted: 28 Apr 2018 09:43 AM PDT The house I bought was on the market for three months before I put an offer on it. No one else was interested. Suddenly, someone else was, and my agent recommended I raise my offer by 5k. I was upset and had an icky feeling about it, so I raised my offer by 2k and they accepted my offer. I have a sneaking suspicion there never was another bidder. I regret not asking for some kind of written proof. Is there anyway to find out for sure? [link] [comments]  |
| Can the city come inspect the inside of my home? Posted: 28 Apr 2018 01:37 PM PDT Just got this in the mail today: "Dear Property Owner: Minnesota Statute 273.08 requires that the Assessor's Office view properties at least once every five years for property tax assessment purposes. Staff from the City Assessor's office will be viewing properties in your neighborhood over the next few months. The inspection typically takes less than 15 minutes and requires a walk-through of the interior of the home (italics mine). Please contact our office by May 7th to pre-arrange an appointment for us to view your home. If you have any questions please call (number and email address). Thank you! City Name's Assessor's Office" Can they legally do this? Do I have to let them into my home? [link] [comments]  |
| Posted: 28 Apr 2018 06:59 PM PDT Curious how many homes you've seen before closing on one? I'm starting to feel a teeny bit bad for having my realtor show us around, especially houses we've liked and gone to see twice but didn't put in offer on. We've probably seen about 30 houses over the past few months. We did put an (above ask) offer on "perfect" one, but lost. [link] [comments]  |
| Can I use the owner occupied tax break for a mixed use property where I also depreciated Posted: 29 Apr 2018 03:40 AM PDT I have a house in PA that was at different times my primary place of residence and a rental property. I've lived in the property for more than 2 of the past 5 years so I would qualify for the 200k in tax free income from that perspective. The confounding factor is that I also started depreciating the property on a 27.5 year basis once I started renting it. I think I've depreciated about 10-12k so far. Does anyone know if this would or would not disqualify me from taking that tax exemption. If so is there any way I can somehow un depreciate it and pay the taxes on that depreciated 12k and then take the exemption? Any help very much appreciated [link] [comments]  |
| Posted: 28 Apr 2018 09:13 PM PDT We sold our home over 3 years ago, but the current owner has listed it for sale. They went in with a ridiculously inflated price, and I wasn't surprised that it hasn't sold. The listing expired over a month ago, but my husband and I are getting 30+ calls per day about the listing. I am on the do not call list, and I've told them that it isn't our listing. This is driving me crazy, and my phone is now on silent. Any advice? [link] [comments]  |
| Posted: 29 Apr 2018 12:11 AM PDT |
| Has anyone ever written a lease that involves cash and barter? Posted: 28 Apr 2018 10:08 PM PDT [FL/US] I agreed to rent to a long-term friend a bit down on her luck. She couldn't afford to pay the full rent, but her boyfriend had a landscaping business, so I agreed to barter the $100 difference. They have been model tenants for 7 months on a month to month verbal agreement, so I have agreed to a 12-month lease, but we both like the barter arrangement. Has anyone ever written such a lease? I'm guessing that I just make the lease for the full amount with a clause that up to $100 of the rent can be paid in landscaping services. I would love to hear y'all's opinion. [link] [comments]  |
| Posted: 28 Apr 2018 08:05 AM PDT I have been looking for an apartment and something came up in the area that I liked, although a bit overpriced IMHO. It was a studio apartment; clean and pretty, but just at the higher end of what I wanted to pay. When I showed up with the realtor who recommended it, the realtor showing the apartment happened to be my friend's boyfriend's father. Total coincidence, she didn't even know this. I texted her as a laugh and said put in a good word for me! I applied for the apartment, but didn't think I would get it because they wanted excellent credit and I only have fair/good credit and I also hadn't heard back. This apartment was showed to a ton of people as well. She told me her boyfriend did tell her father that I "was a good person". Nice, that was sweet of him, I thought. I found another apartment without a realtor and I went to see it. Literally same street, $300 cheaper, and no realtor fee. I put a deposit down; it happened quick, it was just the perfect place for me and texted the reatlor that I found a good fit for me so he can withdraw my application. Fast forward, I don't know, ten minutes, I get a text from my girlfriend saying I put her in such an awkward position by recommending me and that it was crappy of me, basically, to ask to put in a good word because I didn't even take it. I wasn't even offered it! She said that he had chosen to not see other people because of the good word that was put in about me and he would have been taking a cut on commission if the rent had been lowered because of me. Meanwhile, I didn't know ANY of this. I didn't know he was going to lower the rent for me. This girl has been my "best friend" since middle school. I just found a perfect apartment for me and she's putting me in tears of guilt over this rather than congratulating me. She just got her own apartment last week and I was so happy for her and sending her some loving, congratulatory texts and here I am, getting disciplined like I'm five because I didn't go with her boyfriend's father's overpriced studio apartment. Did I break some real estate code of ethic code? Do you need to go with an apartment if you put in an application? I am so confused. And feeling so sad during what should be a happy time. [link] [comments]  |
| Estimate Mortgage Prepaids and Escrow Posted: 28 Apr 2018 07:59 PM PDT I'm comparing lenders for a mortgage and trying to understand what will make the most sense. One lender is coming in WAY higher than everyone else on pre paids and escrow and i'm trying to make sense of it all. I know that it's not necessarily bad to pay all this up front but I'd rather have that money in my pocket.
Lender 1 is a huge national lender that I've seen on other subs with similar questions about pre paids. Lender 3 is from the Costco Loan program so I would think that they're a good lender and wouldn't short me on pre paids and up front escrow. Are lender 2 and 3 shorting me on escrow and out of pocket to make it look better, then once the loan is sold my payment goes up? Can I try to get Lender 1 to reduce prepaid? Or once the loan is sold, will I likely get a check back once the new servicer does an escrow review (happened to me with a previous mortgage)? In Ohio [link] [comments]  |
| Just venting. New construction plumbing snafu. Posted: 28 Apr 2018 07:38 PM PDT We were supposed to close yesterday, but about ten days ago they realized one of the main pipes under the foundation is "bellied". The house was so close to finished, and now they've had to tear up the flooring in several rooms, dig through the slab foundation and try to find the section of bad pipe. They cut some holes in drywall to follow the pipe. I keep being reassured (by everyone who has skin in the game, of course) that this is a "shit happens" scenario, and that when they're done we won't be able to tell it ever happened. I'm having a hard time getting the image of the six-foot trenches clear down to the soil in my (previously finished and beautiful) dining room and kitchen out of my mind. (Builder is paying for my rate lock and assures us we're still closing in a little less than three weeks.) [link] [comments]  |
| Posted: 28 Apr 2018 07:27 PM PDT Hello all, so I'm a second time homebuyer but I definitely feel like I still have some first time homebuyer questions. The short of it: wife and I bought a house 2 years ago around this time, and had a doofus if a realtor. He lost the fridge for us because he forgot to write it in the contract and overall was just an inexperienced and unhelpful dude. If I knew then what I do now I would have fired him, but hindsight's 20/20. We bought our home for 2k over asking and asked for 2k in closing. They accepted, done deal. It was a hot market for sellers so I'm not too bad about this. 2 years later(now). Wife and I are under contract on our home because my job is moving 2 hours away. We got what we asked for, conceded 3k in closing and ultimately will lose about 1500 on the house in total, which I've come to terms with since it's only been 2 years. Buying side; we have been desperately searching in the northland in KC mo area. Seen close to 20 houses and none we could pull the trigger on... but that all changed this morning. Saw a killer house listed for 215k, just went up this morning. We offered and of course there are multiple offers with the seller accepting offers until tomorrow afternoon. We offered above asking and are willing to beat any other offer up to our max. Here's where I have questions. Does the seller get to counter offer each offer individually? For example if they get 3 offers of 215k, 218k, and 220k, all with the same contingencies and close date, can they try and say, ahhh we'll take 225k? Is it a sign of a bad or inexperienced realtor to under price a house by that much(let's say 10-15k or around 5% of house value)? I understand the "create a bidding war mentality" but aren't you ostracizing clientele with a price range that is higher as the house doesn't even appear in their criteria? (Our range was 175k to 225k), but what if someone is looking at the 225k to 260k range? This house wouldn't show up for them, and could easily be worth 225k+. Wouldn't the goal to be to price the house at market value? Is that what realtors should be doing? We are all in for this house and will find out tomorrow so send you're good vibes, thanks in advance! [link] [comments]  |
| [NY] Interested in buying land and building a home. What do I need to know? Posted: 28 Apr 2018 12:52 PM PDT Hello everyone! I am located in Suffolk County, NY and I am interested in purchasing land and building a new home on it but I have no clue where to begin. I have a few questions and would be grateful if you could help:
Thanks everyone in advance! [link] [comments]  |
| Signing a contract for a new home purchase, what precautions should I take if any? Posted: 28 Apr 2018 11:31 AM PDT This is in Florida. We've been looking at houses for about 8 months and used inventory is scarce based on our wants/needs and our offers have either been met with counteroffers or sold to other buyers. The new home prices are not too far off of used in the area as well. Fast forward to now. My partner and I found a new home in a tract neighborhood and we are seriously thinking about signing a purchase contract to build. The house will take about 5-6 months since it has already been approved on permits as opposed to 8+ months for a similar home. It's sort of an inventory home but not on the market yet and we have a chance to snatch it up. It's almost everything we want in a home. The kicker is that since it's permitted we can't change anything on the home; or move to another location in the neighborhood but we are 100% ok with that because of the following: The enticing part about this is that the builder is willing to give us about $20k in discounts (since the previous buyer upgraded the house to the tune of $35k) along with a few grand for closing costs. A similar house being built on another lot with the same options + upgrades would put us around $35k more than what we would be paying for this one. They are asking us for 4% down to start building. Is there anything I should be wary about or question? Should I have an attorney review the purchase agreement/contract even though it's boilerplate? Can I add any contingency clauses to a builder contract? Anything else I should be looking for or should question? Thanks in advance. [link] [comments]  |
| Best 2018 real estate market to invest $300k Posted: 28 Apr 2018 04:48 PM PDT Hi, I have been looking around quite some time for a real estate investment fo $300k domestically and internationally and would like to ask for you advice. When deciding, I do want a controlled downside risk in case of economic downturn but yet invest in a market with highish current ROI, economic growth and great future prospects. So far, I've looked into Austin, Orlando, in the US, and Dubai, Poland, Thailand, Indonesia, and South Korea from the international market. I would greatly appreciate everyone sharing ideas. Thank you! [link] [comments]  |
| Selling land after a house burns down? Posted: 28 Apr 2018 10:47 AM PDT Vermont I am working with a buyer client who had the horrible misfortunate of losing their retirement home in a fire over the winter. He's too old to want to rebuild and wants to sell. The septic, drilled well and wind turbine (the house was built to be off-grid) are all still there, but it hasn't been determined if there was any damage to them (wind turbine looks fine). Also, the house's foundation is still there. It would seem to me that we could list this plot for a good amount, as it would be very attractive to someone wanting to build, especially people with a tiny house which is very popular in this area. The land is on 18 acres of almost all woodland but the house is on a really nice flat part with a huge yard. So the plan is to get the septic and well checked out obviously, but how would you price this out? There's absolutely no comps but it would seem like a very desirable property if the fire didn't do damage to the well or septic [link] [comments]  |
| Buying first home in the central valley in California. Am I paying to much for this home? Posted: 28 Apr 2018 03:10 PM PDT I made an offer on a house that is listed for $146,000 on 0.62 acres. the house itself was built in 1945 and is a 3 bedroom 1 bath 784 sq ft for just the house . Other houses in the area are estimated at $75,000 - $85,000 but they don't have as much land average 5600 sq ft. And one of the conditions in the contract should I accept it is that the seller is willing to cover repairs up to $500 anything beyond that is on me. what do you folks think, is it a terrible deal? [link] [comments]  |
| Does this sound like a rental scam? Posted: 28 Apr 2018 08:34 AM PDT Me and my boyfriend are about to rent our first place. (19) We found this home on trulia and asked for a showing and when we did the property manager told us to contact the current tenant. We toured the house with her and I emailed the property manager that we were interested. He asked how many people/full names/monthly income/why we are interested and then said if we are picked we can move in instantly and money order him the first last and deposit. He said he picked us and wants to meet today at the house to sign the papers and give him the deposit then when we pay the remaining first and last Monday he will give us the keys. It just seems fishy to us how fast he accepted us with no background check or even meeting us in person. Does this sound like a scam? It's also worth mentioning that when we looked up the home it was on multiple real estate websites that seemed legit. Edit: I should mention I live in Florida and he has mentioned he will give us the paper work to sign and the keys to the house in person when we pay. He hasn't asked for any ID and didn't want any payments before paperwork/keys were given. I researched the property and it says it is owned by the exact name that's been the one I've been in contact with. [link] [comments]  |
| Why do I need a realtor (as a buyer)? Posted: 28 Apr 2018 10:26 AM PDT Hey, So I'm looking to buy a home in CA. I found a realtor, basically because I met him and had some questions for him, and then we kind of just started looking at houses. He works for a big known company, so I'm not worried about that. However, other than driving me around, he hasn't really found any good homes. All the ones that are interesting I have found myself. Now I'm interested in a house (that I found myself), and what's the point of the realtor then? Can't I just get a lawyer? That will probably be cheaper since they don't take a percentage of the home as a fee. We have never signed anything. What's the point of a buyers side realtor? Thanks for input, K [link] [comments]  |
| [MI] How does buying a house with high radon levels and having it mitigated affect its resale value? Posted: 28 Apr 2018 01:55 PM PDT So we were prepared to buy this one house and both parties agreed to a price but upon inspection the radon levels were pretty high (~6) and the sellers agreed to pay the ~$1000 to pay for the remediation system. Logically I understand that this should be the end to the issue, but I'm a bit worried about the resale value of the house if in the future I decide to sell. I would have to disclose that this house had a radon problem in the past and needed correction, which might scare people away or lower the value of the house. I'm thinking of renegotiating the price of the house based upon the results of the inspection, what do you think? [link] [comments]  |
| Posted: 28 Apr 2018 04:06 PM PDT Location: King county, WA, USA My dad bought a house outside Seattle this month. Deal closed last week. He works overseas and I work in another state so we relied heavily on an agent (different from seller's agent) during the process. Neither my dad or I had set foot on the property before the deal closed. The seller is over 80 years old and already moved into a local nursing home, he also had an inspection report prepared. Since Seattle's housing market is very competitive and bidding war happened to my dad many times before, causing him to miss on his dream homes, my dad relied on the inspection report the seller provided instead of ordering his own inspection service. This turns out to be a big mistake. This week I had the chance to visit the house. I noticed something obviously wrong with the ceiling and walls of a bedroom, and to my horror, found out there is a massive bee hive in the wall.... The bees don't appear to be alive anymore. However it seems they chewed through the walls and ceiling and inevitably left holes to be repaired. I'm no expert in bees, but I believe it indicates that the hives had been there for quite a while and it is impossible that the seller/agent/inspector weren't aware of the problem. The estimated cost to repair is >1% of the closing price (1 million+). Now I realize that my dad might just have to suck it up because the contract is closed. But given the magnitude of the issue and high likelihood that the seller/seller agent intentionally deceived us by leaving the problem out of the inspection report, I think it is worth putting up a fight to recover some cost. We can really use some advice on how to take action from here. Folks with knowledge/experience in the field, thank you in advance! P.S. For the amount of money involved, we will try getting a consultation with an attorney next week. Any general advice for dealing with real estate attorney would be greatly appreciated too! [link] [comments]  |
| Short-term Rentals / Owner Occupied Loan(TX) Posted: 28 Apr 2018 06:40 AM PDT Hello all, I am a first time home owner- and have only owned about a month now. I have an interest in using my place on Airbnb or A Home Away to help offset some mortgage expense. As I understand it, according to my loan the property needs to be owner occupied for a while (at least the first year?). Will I run into any problems with my lender (chase) occasionally renting out my entire 1/1 as a STR if it is my actual home, but I just go stay with friends and family for a few nights when it rents out? I'd hope to book it a couple weekends a month. Any insight appreciated! [link] [comments]  |
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