Will have to go to small claims court to get our deposit back. What can I expect. Real Estate |
- Will have to go to small claims court to get our deposit back. What can I expect.
- First time home buyer, question regarding closing costs
- Sellers agent dodging us before closing (AB Canada)
- First time buyer seeking advice
- Why you should Consider Investing Back Home While working Abroad-Kenyan Case Study
- FSBO:Multiple Offers coming, next steps?
- Buying a home but not super excited
- Louisiana -Selling a house in a shitty neighborhood
- How to insure a fair appraisal?
- Completed listing question (NoVa)
- [San Jose, CA] Struggling to keep it all straight. Rent or buy?
- What would your offer be? TX
- Homeowners Insurance source differences
- Do lenders typically count appraisal waivers as money down?
- First time home buyers stumble on great for sale by owner
- Looking for an upper level contact at Lennar home builders corporate offices?
- Books for beginners to income based real estate investing
- Thoughts on renting out single family homes. Looking for advice based on my area.
- Do you pay capital gains on a rental property if you sell it to purchase your primary residence?
- Is a title commitment enough protection for foreclosure auction?
- First Time Homebuyer: How to find a home with acreage
- Seller not closing deal and not sharing details about why. Any advice please?
| Will have to go to small claims court to get our deposit back. What can I expect. Posted: 29 Apr 2018 11:51 AM PDT Long story short, the appraisal on a house we were gonna buy was $30k less than what we offered. The seller wasn't going to come down in price and because there were some other issues that they didn't want to address, we decided to walk away. We had a mortgage contingency in our contract and we got a mortgage denial letter that claimed the collateral was not sufficient. 1.5 months later the seller still didn't release our earnest money and we are left with having to go to small claims court. I'm wondering if our contract and the mortgage denial letter is enough to win the case? Have you guys had the experience of getting your money back through small claims court? Oou broker already tried speaking to the sellers' agent and that didn't help. We haven't hired an attorney because our deposit is relatively low and we probably would pay just as much for a lawyer as we would get back from our deposit... and our agent keeps telling us we have an easy case to win. Our agent is kind of surprised at how difficult those sellers are making it, she said she never experienced anything like this before. [link] [comments]  |
| First time home buyer, question regarding closing costs Posted: 30 Apr 2018 03:25 AM PDT So like the title says, this is my first home purchase. I plan to submi my official offer today. In regards to closing, my real estate agent is saying technically the buyer always pays closing, it just comes off the price of the house and gets added to the mortgage. So this place is listed at 112k. I plan to offer 100k and I will be financed 106k, the 6k coming from the closing costs. Does that sound correct? Thanks in advance. Edit: in NJ [link] [comments]  |
| Sellers agent dodging us before closing (AB Canada) Posted: 29 Apr 2018 06:35 PM PDT Everything about buying our first home has been going great up until now. We are due to close in 15 days but just got hit with tons of flooding in our town so we asked to see the house to check out the basement and make sure it's okay. Mainly because if it's flooded, I'm not making a claim on our new home insurance especially when one of our conditions was that a hole in the drywall of the basement be replaced after they had to repair a crack in it last year. Anyway our realtor has been trying to contact the sellers agent to set up a walkthrough for us and he's basically ignoring him. So I told my agent we (my husband and I) aren't signing anything final until we can see the house for ourselves and that the repairs have been made. Anything else we might be able to do in this situation? [link] [comments]  |
| First time buyer seeking advice Posted: 29 Apr 2018 07:39 PM PDT My wife and I put an offer on a townhouse in Florida that was accepted. Within our price range and preferred location, anything decent seems to sell within days and it's been like this for about a year. The place we offered on looks very well maintained, but it is 17 years old with the original roof and HVAC. It is being sold as-is with right to inspection. On the advice of our realtor, we offered at listing price and are paying all closing costs. The only concession we got was a 1-year third-party warranty policy on the HVAC. I don't think the seller is willing to negotiate much on price since apparently multiple other offers were turned down. We're now in our 2-week inspection timeframe in which we can have an inspection done and cancel the contract with a deposit return for issues that were not disclosed (I'll need to get a copy of the contract for the exact wording). I'm feeling nervous about this because we want the place but not if the lender or property insurer requires the roof to be replaced immediately, and from what I've been reading online, HVAC warranties seem worthless (I mean, I don't see why any company would insure an 18-year old HVAC). I understand that both will have to be replaced within the next few years anyway, but having to do either immediately would kill my desire to own this place. My question is, if the inspection comes back saying the roof and/or HVAC need to be replaced now, is this reason enough to back out and get back our deposit? The listing description did not misrepresent the age of the roof or HVAC (although it didn't specify either). The listing description did say the house was "move-in ready." Sorry for such a basic question. Thanks. [link] [comments]  |
| Why you should Consider Investing Back Home While working Abroad-Kenyan Case Study Posted: 30 Apr 2018 01:13 AM PDT Nairobi, Kenya When people go in search of greener pastures abroad, they should remember to invest back home as there are numerous opportunities available. For Instance, the Kenya devolved government has made it easy to invest in the counties. For Instance, Kajiado County has seen major developments attracting various investors like universities, industries, and government polytechnics. Devolved government increases money circulation in the counties creating room for development and accessibility to services. Make the investment while you're still working because you have the opportunity to raise all the funds you need. Where to Invest According to data from Central Bank of Kenya, by mid-2017 Kenyans in the diaspora sent home KSH.172billions annually. Apart from giving families better lifestyles, this is money that can be channeled into major development projects that will give you huge returns. Real estate is one area that has ready a market since demand for better housing keeps growing with the ever-expanding middle class. However, investing while away can be hectic. You will need a reliable person on the ground to help you undertake the necessary procedures and inform you of any developments. Avoid Relatives and Friends There many cases of relatives embezzling the remittances of Kenyans abroad. A story on DN2 of May 5, 2016, by Lukorito W Jones, is one such example. A Kenyan lost 10million to his brother in a span of two years. This Kenyan was sending Ksh. 200,000 every two weeks to his brother to oversee the building of a residential apartment. Much to his dismay, there was nothing but the piece of land when he came home two years later. Finding someone you can trust back home is difficult. However, there are a number of reputable real estate firms Kenyans abroad can depend on. Invest While You Can The best thing you can do is invest when you have the capacity to do so. Investing back home while working abroad should be your number one priority. Most people get too comfortable when they land good jobs and erroneously imagine the money will always trickle in. Invest while you're still making money to avoid misusing your funds. When you have a goal, you will manage your income better. Also, take advantage of low property prices. Don't wait to invest in the future. Land appreciates in value with time and you can always resell to make good returns. Intercity.co.ke [link] [comments]  |
| FSBO:Multiple Offers coming, next steps? Posted: 29 Apr 2018 05:18 PM PDT Hello, I've decided to do FSBO because I have limited equity and I know the market is hot right now. I almost hired an agent but realized I would have trouble getting enough for a down payment on the next home. Long story short, I had way more interest in the home already (only posted to to zillow, trulia, facebook ads, no yard sign) and had two showings today. Both came back to me and said I would be getting a formal offer tomorrow. So what are my next steps. Do I review the offers with a real estate attorney? Do I go back to both buyers and ask tell them send me your best and final offer? I liked both couples and want the best for both of them but I will accept what ever offer gives me the best deal for me. Now I see the benefit of a realtor but not worth 8k in my opinion. I won't see these people again haha. Any help or advice is appreciated. [link] [comments]  |
| Buying a home but not super excited Posted: 29 Apr 2018 05:09 PM PDT Husband and I have been shopping for almost a year. I am a bit picky and have only liked a few homes. We have put in 2 offers but were outbid on one and ended up in a long drawn out (4 weeks) back and forth situation due to a low appraisal. Needless to say we got neither. Over the last week we found a home that is well priced. In fact it is over 300k lower than our max budget. Crazy right. I like the house well enough. A bit smaller than we thought we would end up with but not terrible. Over all I go down the list and it ticks lots of boxes. The thing is the other 2 homes we bid on were in my heart. I wanted to live there. This one I am fairly neutral on. It is more of a 5-7 year home instead of a 15 year home we were oringally looking for. But it gets us in the location we want and is plenty big for us and our family in the next few years. I guess my question is has anyone else felt like this? Anyone buy a family home they liked but didn't really give you the "feels"? Did it grow on you? Did the memories you made bring you around in the end? I am just having to get used to the new way of thinking but my head is telling me this is likely the right move. Plus the price is great I am not worried about losing money even if we only stay the 5 years or so. Thanks! [link] [comments]  |
| Louisiana -Selling a house in a shitty neighborhood Posted: 29 Apr 2018 08:46 PM PDT I selling my family home, 3BR 2BA, fresh paint, new floors, bathrooms & kitchen NOT updated, nearly 2 acres. The house had nice pictures on the site. There have been 2 showings in the 1 week that it has been listed. A lot of people are driving by to look at the house. But it is in a shitty neighborhood. The neighbors are nice, but the dead end street that the house is on has a good many mobile homes. One section even looks like a trailer park, no kidding. I will not be going to the city to have the neighborhood cleaned up because half of the residents are my family. In addition to the trailer hood not being a nice subdivided house-plentiful street, Waste Management is less than a mile away. Sometimes when the wind blows, the neighborhood smells like garbage. Please do not mistake this post as being posted by a troll. That's not the case. It's unfortunate for me that my father built a nice house on a dead end street and the neighborhood had turned into what it is. There is no zoning against it, either. If you were me, what would you do to better market this house? I have a realtor, and he feels that we've properly priced the house for the area. But is there anymore that I can do that won't drain the bank so that I can sell a nice house in a shitty neighborhood? The neighbors are nice, but the street has a lot to be desired. Edited to add: there is one way in and one way out of this dedicated end street. There is no routing perspective buyers around the trailers. We are letting folks know they can move in a mobile home for revenue - - From the listing: Additional preexisting spot for a mobile home in rear with utilities already ran. Great investment opportunity right from home. [link] [comments]  |
| How to insure a fair appraisal? Posted: 29 Apr 2018 07:14 AM PDT In Louisiana selling a home in a historic district. I'm concerned the buyers giant mega-lender will use an appraiser not familiar with the area and the home won't appraise for contracted price. Homes in the historic district sell for 50% more than homes a mere 3 blocks outside of it. Is there any way I can make sure the appraiser uses comps inside the district? Any advice? Thanks :) [link] [comments]  |
| Completed listing question (NoVa) Posted: 29 Apr 2018 07:14 PM PDT Im in northern virginia about an hour outside of dc. A couple years ago we were considering moving and an agent printed out/emailed a neighborhood specific completed and pending listing sheet from the MRIS with the closing date, initial asking price, sales price, subsidy, etc... My wife and I have decided to explore moving again and there is only 1 neighborhood we are considering in our small town. Is there a way to get this information without getting an agent? We aren't really at the point of needing an agent yet and although I'm sure it's just a few keystrokes, it seems inappropriate to ask for this and not know if we would follow through etc,,, Thanks! [link] [comments]  |
| [San Jose, CA] Struggling to keep it all straight. Rent or buy? Posted: 29 Apr 2018 12:04 PM PDT I'm a buyer in San Jose, CA who wants to stay in Central San Jose (Downtown, Northside, Willow Glen, etc), and I'm having an emotional crisis about my situation. I'm not sure what moves I want to make, considering the insanity of this market. I've been advised by my realtor to assume everything will sell for $200k over list right now. From what we've been seeing, the floor for homes and decent condos in Central San Jose is over $1M. My situation: I am a software engineer with $180k down, and potential to save up to an extra $100k / yr (conservatively). I currently live in an area I love, paying $3k / mo (with my girlfriend who covers $1k of the cost). We have a fully-underwritten loan for $1M. We've put offers on two places, one of which was a 100 year old home that needed to be tented, had uncertain foundation issues, 1300 sqft, and ended up closing at $1,110,000 -- above what we can afford with our loan. My realtor says that she and the rest of her office are alarmed at what's happening in this area, and the unbelievable uptick in prices. The situation in San Jose is getting a little bit crazy this year due to a few factors:
I have used the NYTimes home affordability calculator, but it's kind hard to draw a calculation because if I enter the raw #s and use the default settings, it's wiser to rent if I can rent at under $3700 / mo. But if I adjust rental/housing costs to show that they're growing 17% year over year, then it only makes sense to keep renting if I can afford to rent under $200 / mo :D There are places I can afford at my current budget, but they're in very undesirable areas that may not become desirable for some time. I should also add that much of my family and my best friends live in Downtown San Jose, and I identify strongly with the area and would prefer not to leave if I could. I also have an extremely high pressure job, and don't want to add much to my existing commute which is already 1-2 hrs a day. So my real questions are:
edit: formatting [link] [comments]  |
| Posted: 29 Apr 2018 05:18 PM PDT Looking to make an offer on this house. 3bed 1.5bath corner lot. I've viewed the home and it is in very good condition for its age. Roof was just replaced two weeks ago. Fully functional 9 camera security system. All new double pane windows. Kitchen remodeled. All rooms receive AC/heat. Front and back yard well maintained. Only improvement I would do would be to paint the wood paneling. I'm using a VA loan and would prefer the seller pay all closing cost. With that said it's been listed since December. City appraisal is 96,700 asking price is 97,500. What would you offer? https://www.redfin.com/TX/El-Paso/4737-El-Campo-Dr-79924/home/75026009 [link] [comments]  |
| Homeowners Insurance source differences Posted: 29 Apr 2018 06:54 AM PDT I've been wondering if there are any differences between getting insurance from local/regional insurers versus national sources like Nationwide. Any reason why I should go with a smaller insurer? You'd expect a smaller source to have better customer service or whatever, but is that true anymore? Seems like some of the big companies are well regarded, available 24/7, etc. Are they cheaper? I can't imagine they would be. If you have any suggestions we are in S.E. Virginia. [link] [comments]  |
| Do lenders typically count appraisal waivers as money down? Posted: 29 Apr 2018 02:52 PM PDT I know earnest money is applied to the down payment but how about the appraisal waiver? [link] [comments]  |
| First time home buyers stumble on great for sale by owner Posted: 29 Apr 2018 02:39 PM PDT My husband and I ran into a great house in Reserve Township Pittsburgh, PA that isn't on the market yet and the HO would like to sell himself without listing. We are 26/27 and married with good jobs. But we have never owned. The house is roughly 1000 sqft 3br1.5ba with a 6500 sqft lot. They want 150k which comparing to comps is not bad. He already declined 150k +3% seller assist. He redid everything but the kitchen with quality work over the past 16 years. There is blown in insulation, a roof with 10 years left and the furnace and ac are both still good for many years. The issue he had when he bought it was the radon was 1 point over the PA limit but he didn't care to do anything. We haven't had the inspection yet so we don't know the results. The owner purchased for 75k in 2002. I basically just don't know what to be weary of when it comes to buying ourselves. We are preapproved for way more than the rate. My best friends mother is a REA but if she would legit help us that would add 4500 to our closing for her company's fees. Any advice is appreciated! [link] [comments]  |
| Looking for an upper level contact at Lennar home builders corporate offices? Posted: 29 Apr 2018 10:30 AM PDT I'm seeking the help of someone that can put me in contact with an uppr level contact at the corporate offices of Lennar Homes. I'm not an agent or RE professional, not looking for anything business related, just have an issue I want to get ironed out as a home purchaser/client/customer. Hopefully Reddit can help a brother out. A handsome reward will be provided. Message me directly please. Thanks in advance. This is in the state of Florida. [link] [comments]  |
| Books for beginners to income based real estate investing Posted: 29 Apr 2018 01:21 PM PDT I've just finished my first real estate book, Ken McElroy's ABCs of Real Estate investing. Only interested in income generating real estate. Anyone recommend any books on this? The recommended reading section on the sub was pretty bare. i'm based in the UK but McElroy's book was still v relevant [link] [comments]  |
| Thoughts on renting out single family homes. Looking for advice based on my area. Posted: 29 Apr 2018 01:20 PM PDT I live in downtown Milwaukee but am looking to buy my first rental property. There are no 3 or 4 families going up for sale in the area. The duplexes are overvalued and selling within 2-3 days on the market. Getting discouraged about finding a duplex and am shifting my focus towards buying a SFH to rent out. The benefits I see are longer term renters, they will take care of yard and snow removal, they will treat the property more like their own. The negatives I see are a lower cash flow, and when I have a vacancy it will hit harder because I only will have 1 source of rental income. Not too sure what to do. Do I get a deal on a nice SFH or overpay for a duplex? [link] [comments]  |
| Do you pay capital gains on a rental property if you sell it to purchase your primary residence? Posted: 29 Apr 2018 09:30 AM PDT Under current tax law, what is the tax consequence from selling your long-time primary residence (Home1) after renting it for 10 years while living in a different primary residence (Home2), if you sold them in order to buy a new primary residence (Home3)? What if you were a renter at Home2? [link] [comments]  |
| Is a title commitment enough protection for foreclosure auction? Posted: 29 Apr 2018 01:04 PM PDT I'm looking at purchasing a house at a foreclosure auction. The auction company has obtained a title commitment for the property and has made it available for bidders to review. Given that there are no unusual liens listed there, is it same to assume there are no liens? If not, what other measures can I take to make sure there are no other liens? [link] [comments]  |
| First Time Homebuyer: How to find a home with acreage Posted: 29 Apr 2018 11:21 AM PDT My husband and I just got preapproved a few weeks ago and have been looking for a home with at least 2 acres. I'm looking in the Kitsap County and Pierce county WA areas with a 350K price point. We need to be close enough to some sort of manufacturing work, and close enough to our current jobs (Tukwila and Auburn) to commute for at least a little while. We have seen probably about 10 homes already and for 90% of them, we pull up to the property and I know immediately I don't want the home. I just want some privacy!! Grew up in the middle of the woods and that's where I want to live, but it seems like every home, even those on a good amount of land, is just built right next to the neighbors and right on the road!! Am I being unrealistic? I don't want to see or hear neighbors. I want a woodland paradise, I am willing to make a LOT of compromises on the house itself if it's just in the right place! To anyone who has bought rural property in the past: How long did it take you to find the one? Did you know right away? How much privacy can I realistically expect? Anything to look for that might make it more or less private than I think? [link] [comments]  |
| Seller not closing deal and not sharing details about why. Any advice please? Posted: 29 Apr 2018 10:29 AM PDT hi all! i am the buyer in contract for a condo in nevada and have satisfied all contingencies. seller's second mortgage lender is not sending to title the only missing piece of data required to close: second loan payoff amount. Closing date expired and I agreed to a 5 day extension because seller's agent said it was plenty of time. Title asked seller to contact lender directly to negotiate. Payoff was verbally promised to arrive this Friday, which it did not. Seller called lender again Friday and was told it will probably be sent on Monday and extension expires Tuesday. After my offer was accepted, I discovered that seller was in pre-foreclosure (Notice of Default) and if he didn't cure the default in 90 days, which fell in the middle of our contract, that the lender(s) could foreclose. I offered to close early to cure the default in time and seller refused. The seller's agent advertised this as a regular sale and verbally told me the same. Seller's agent will not tell me the reason the second lender will not release the payoff amount to title after multiple attempts. I am representing myself as this is my fifth real estate purchase without representation, the first four went great, and this one, as originally advertised, appeared to be the most straightforward of them all. Any thoughts or advice on how to try and get this deal to close? Any ideas for next steps (ie Notice to Perform, Demand to Close) or recourse since the seller is not performing, agent inaccurately represented the property, etc? Would love to see this close! Thanks everybody! [link] [comments]  |
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