Apparently FSBO is an open invitation for realtors and investors to continually waste my time. Real Estate |
- Apparently FSBO is an open invitation for realtors and investors to continually waste my time.
- New Apartment Building Owner
- 1st HELOC
- Realtor scheduled closing with his lender not the one I wanted...
- (IA) Offering to buy real estate from a Chinese investor.
- Will we reach oversupply
- First Time homebuyer. Failed Septic inspection
- Bought a condo on earthquake fault line. Agent did not provide NHD report.
- TX - First Time Home Buyers, Paying Property Taxes?
- Considering having home built, how do I protect myself from an overloaded builder?
- First time home buyer thinking about walking away from a foreclosed property
- Trying to rent with new jobs?
- Thinking about purchasing my first rental home, please let me know if my model makes sense
- How do I legally pay a referral fee to a non broker third party
- Military clause
- Do listing brokers hate quicken loans?
- How long do I need to have funds in my bank account for there not to be questions about the source?
- Forced fees via “Special Assessment” from property management company (CA)
- Can developers and landlords charge lower than market value
- Moving out due to medical reasons
- Should i buy a 3 family house in NJ ? Or move buy a house houston?
- My apt building (NY) doesn't have a certificate of occupancy. 50 people live here.
- Looking to buy a house about 50 yards from a big solar farm... Thoughts on this? Good or bad?
- Anyone invest using Ground Floor before?
| Apparently FSBO is an open invitation for realtors and investors to continually waste my time. Posted: 08 May 2018 10:24 AM PDT I shouldn't be surprised by this, but I can't believe how many calls I have gotten from "buyers" who want to buy my FSBO home, or realtors that want to chastise me for not using a realtor to sell it, berate me over my commission offers, or pretend to want to offer me free services to sell my home. I've had my FSBO home listed for a week. In the past week, I have had no less than 40 calls (literally counted them on my phone) from "buyers" and realtors wanting to rep my home. The "buyers" call in pretending to be interested in the home, only for the conversation to inevitably turn into a reveal of them calling on behalf of a buyer who wants to buy my home for my outstanding mortgage balance. Why, yes, in an extremely hot market, I would love to sell my perfectly fine SFH for 100k under market value. Nope, you definitely aren't wasting my time calling me to verify the lot size square footage and 3rd bathroom that is clearly listed on my posting. And then the realtors.. jesus fuck, the realtors. Incessantly calling me, asking if I would like to have a realtor rep the house, or to put on a "free" open house. Do these assholes really think I don't understand that I have the option to pay a realtor 10 grand to sell my house? Some of them ask once and politely accept my refusal, others try and fight me on the reasons why I don't want to work with them. Others act all indignant about the fact that, no, I am actually not interested in your free but obviously-not-free open house offer for this weekend. One even went as far as to send me several angry text messages because I'm only offering 2% commission ($7,500+) for a house her own buyer found themselves on zillow. Don't like my offer? No problem, anyone has the right to decline work if they don't feel they're being compensated fairly, so don't show the house. But don't be an asshole because I don't think I should have to pay you 10 grand to set up a showing and coordinate an inspection/closing. Anyways, I just needed a cathartic rant. I just accepted an offer from someone and I will probably kick in a bonus to their agent since they were literally the only one to not beat me over the head for extra commission or hard sell me on their services. I'm sure this will be received poorly since you definitely can't disparage realtors on here, but there you have it. [link] [comments]  |
| Posted: 09 May 2018 04:17 AM PDT We have a really good deal with rent and love our apt. However, owner just sold building and they are starting renovations. Outside so far. Our lease is good til Aug 31, but the new owner said they'll pay us $5,000 to move out by June 31. My gf and I love that deal but someone else said to stay and make them pay us more. Any ideas?? We just started looking for a new place. [link] [comments]  |
| Posted: 08 May 2018 07:27 PM PDT After researching all my options, I have decided to go w/ a HELOC. Which is the best company to go w/ and what are things I should like to do and avoid? Thanks [link] [comments]  |
| Realtor scheduled closing with his lender not the one I wanted... Posted: 08 May 2018 07:26 AM PDT First time home buyer in Utah, closed last week. Still boiling at how my realtor handled things. My realtor recommended we use his lender as she was the best. We went down the process & I got a second quote from Rocket Mortgage. Rocket initially came in $2500 under on closing. I informed my realtor that I was getting two quotes and wanted to see who would come in under on closing costs. He lectured me for a good 10 minutes about how unethical that was and that his preferred realtor had already put so much work into our loan. I told him, it's my decision and I'm making it solely off of a financial basis. Wednesday, I told him that I was likely going with Rocket, as they were still under by $700 after his preferred lender dropped the costs to compete. Friday I have him schedule closing for Monday at 9am. Sunday I find out that he scheduled it with his preferred lender & not Rocket. Closing was on Monday & the title company opened at 9am & found out they didn't have another opening until Wednesday. To not have the headache of scheduling, changing moving pod schedule, and potentially holding up the loan, I ended up going with my realtors preferred lender. I'm super novice at buying - so likely made some mistakes, but I felt so jaded by my realtor. Is what he did even legal? [Edit: adding some context around timeline] I went through the full process - had appraisals done by both lenders, submitted all documents to both lenders. They were both ready to close nearly 1.5 weeks before my closing date. [link] [comments]  |
| (IA) Offering to buy real estate from a Chinese investor. Posted: 08 May 2018 07:37 PM PDT I know of a property that was purchased by a Chinese investor 2 years ago and on the day of closing the home burned (most of the way) down. The property hasn't been touched since they put up no trespassing signs shortly there after. I visited with the neighbors and they said that nobody has been there since that day. Rumor has it that there was no insurance on the property at the time of the fire. Searching property records shows that there was no mortgage filed on the property so I assume it was a cash purchase. I am looking to purchase the property to clean up and either sell as a building lot or build a new home on. My plan is to cold call the owner and see if he is interested in selling. I am wondering if any of you have any experience with something like this or any guidance that may be helpful. Is there anything I need to know about business customs/cultural differences I need to be aware of before calling? Any comments or pointers would be greatly appreciated. [link] [comments]  |
| Posted: 08 May 2018 10:21 PM PDT The wealth gap keeps growing, rents rising, and low supply of housing. Is this supply growing ? Or is it still pretty slow? Location :greater Los Angeles area [link] [comments]  |
| First Time homebuyer. Failed Septic inspection Posted: 08 May 2018 10:13 PM PDT CT So this is my first home purchase and my first time dealing with a septic system. During inspection we found out the seller who is a flipper did a botch job on the septic trying to make it last a little longer to be somebody else's problem. Now he can't avoid it and has to replace the system and wants to split the cost with me. My answer is no so the deal is about to fall through. Do I have any other options? My wife and I love everything else about the house, but I can't see putting up any more money. I mean he tried to screw however buys it in a bad way. [link] [comments]  |
| Bought a condo on earthquake fault line. Agent did not provide NHD report. Posted: 08 May 2018 10:01 PM PDT I have recently bought a nice condo, but later discovered that it's located right in the middle of an earthquake fault zone and marked as a property with a high risk of damaging on official geological maps. My agent forgot to send me Natural Hazard Disclosure report and I, as a first time home buyer, didn't know that such report should be given to me. I asked attorney and they said that it's possible roll back the whole transaction (it won't be easy, though). However, I don't want to roll it back. I like the place and apartments, but I still feel disappointed. Probably, I would offer less if I knew all circumstances. If you were in my shoes what would you do? (I know that you would read all documents and do your own research. I will do the same. Next time :) Try to imagine this situation.) [CA] [link] [comments]  |
| TX - First Time Home Buyers, Paying Property Taxes? Posted: 08 May 2018 09:34 PM PDT We are going to start home shopping soon in Texas, we don't have an agent just yet. But we had a basic question about the process. When you buy a home, do you typically set up an escrow account with the title company to pay your property taxes monthly - so at the end of the year you have the total amount due. Or how does that work? Thanks [link] [comments]  |
| Considering having home built, how do I protect myself from an overloaded builder? Posted: 08 May 2018 08:17 PM PDT I'm considering buying a nearly finished new home (i.e. pick the furnishings and colors) or having one built from scratch in a new neighborhood. There are lots of new neighborhoods around where I'm looking and construction is booming. We had two friends buy new houses in a nearby neighborhood around 2-3 years ago, and even though both had a 90-day move in guarantee, neither one moved in anywhere close to 90 days, and both had a lot of quality problems and had to fight tooth and nail to get things fixed. One family had to rent for nine months instead of three and was still letting contractors into their house several months after moving in to do things like replace the entire kitchen laminate floor. There was no way to get liquidated damages for the six months of rent since the contract didn't include any penalty for not finishing on time. My question is, don't the builders write these contracts, and since they do it in their own best interests and not the buyer's, how do you go about protecting yourself? Can anyone provide any advice? Thanks in advance. Edit: spelling Edit: location is OR [link] [comments]  |
| First time home buyer thinking about walking away from a foreclosed property Posted: 08 May 2018 08:03 PM PDT We are under contract and the house has passed inspection. Seller bank asked for a rehab loan since the previous owners have caused cosmetic damage and were heavy smokers. House in its current condition is not livable. We liked the neighborhood and the house layout so decided to go for it. In this market though we are having a hard time getting estimates from the contracts due to scope of the work. The house needs new paint, carpet, floor, kitchen and 2 bathrooms renovated. We only have 1 estimate and don't feel comfortable just going off that 1 estimate. This contractor is referred by our realtor and he swears he works with him all the time and does good work. We have had at least 4 other contractors come out and 3 agreed to give us an estimate in about a weeks time. A week passes and they start making excuses ranging from family issues to being too busy. One of them even just straight up said it will cost 75% of the purchase price to make it livable.. We are not even asking for any high end work. Am I right in walking away? Edit: Location - Central, Ohio [link] [comments]  |
| Posted: 08 May 2018 07:29 PM PDT Roommate and I are trying to find an apartment. We applied and they want us to pay double because my roommate stared a new job paying more than her last job. She went from Barista to two Events Assistant and Executive Assistant. I've been at my job for the last year. I also started a second job in February. She started a job in January then March. We have the income. They want us to pay $2800 per person to move in. If we do that, we won't have money to pay rent for June. I'm willing to do it but at the same time it leaves me with no savings. I'm in Los Angeles. Rent is $2100 and deposit is $2100. Will every place require double the deposit? [link] [comments]  |
| Thinking about purchasing my first rental home, please let me know if my model makes sense Posted: 08 May 2018 06:53 PM PDT I am looking to invest in a rental home in virginia, the house has been taken care of, it is split into 2 bdr (1350/month) and the renters have a lease till 6/2019 and a 1br (1100/month). Its in a highly popular area where people wan to live, the appliances are new, it has laundry in both apartments, a deck, parking, nice backyard. The only downfall I can find is that the 1br apartment does not have central air. I ran the numbers, and I always knew rentals are a low margin business until you pay off the mortgage, but I am wondering if it is worth it. Please take a look at my google sheets calc, and let me know what you think. https://docs.google.com/spreadsheets/d/11EO6-AzJZlQ7xC8sljJM4SHqOaMjDOJmXB1C_szBr6k/edit#gid=0 Thanks! [link] [comments]  |
| How do I legally pay a referral fee to a non broker third party Posted: 08 May 2018 06:53 PM PDT I have two individuals that are not licensed and are eager to do more than help me with paperwork. They have no desire to be licensed as agents but they are great talkers and have found me referrals before. I can't compensate them like I would like to. Has anyone figured out a way to get referral fees paid to non licensed folks legally? [link] [comments]  |
| Posted: 08 May 2018 06:48 PM PDT Hello, newbie landlord question. This is in Texas. What is the military clause and is it mandatory? [link] [comments]  |
| Do listing brokers hate quicken loans? Posted: 08 May 2018 06:52 AM PDT Hey everyone, I got a pre-approval through rocket mortgage yesterday and was very excited to start the home buying process. One of the Realtors I interviewed told me that my quicken loan might cause some brokers to ignore my offer in a multiple offer situation because quicken can be difficult to work with. Is there any truth to this? I'm considering getting a second pre-approval from a local lender with lots of excellent reviews. I heard nothing but good things about quicken but now I'm a bit anxious thinking that I made a mistake. I'm totally willing to get the second pre-approval even if it hurts my credit slightly. I want to be competitive in this crazy market. I'm in Seattle and listings don't last long here. Thanks for your help! [link] [comments]  |
| How long do I need to have funds in my bank account for there not to be questions about the source? Posted: 08 May 2018 05:21 PM PDT USA / WA State - I have already had issues, which is why I am asking. I invest in crypto currencies and when I paid off a credit card using proceeds it screwed up my refi as the mortgage company balked at the funds (I was completely honest about the source, had all the transaction details, printouts, etc) but they "couldn't verify" the funds. So, I want to get an investment property and want to make sure I sell enough crypto early enough that it is just "savings" and not from any other source. What is the timeframe that the bank account has to have the money? [link] [comments]  |
| Forced fees via “Special Assessment” from property management company (CA) Posted: 08 May 2018 05:17 PM PDT Just got an email today from the appointed building manager of my condo. Here's a copy and paste from the important stuff. "The Board of Directors has approved a Special Assessment at ******** The current financials of the ******** community sit in a deficit from the first year. After careful consideration and exploration of every avenue to provide savings, we as a community have decided it appropriate to cover off all of the deficit financials from the first year of operation in which the better half of the building sat unsold with no contributions coming from those units. As such, this assessment will cover off the overage of expenses unaccounted for in our first year from break-ins, first year natural gas overages as well as restore the reserve financials from their deteriorated state, as the reserves needed to be completely un�funded once again from the lack of contributions on unsold units. Section 39 of the Condominium Property Act, R.S.A.2000, c.C-22 (the "Act"), gives the Board of Directors the power to assess and collect contributions or assessments in an amount sufficient to cover the additional anticipated common expenses. This Special Resolution was reached by unanimous vote by the board of directors. Each owner is required to pay their proportionate share based on their unit factor. Please see the two attached payment schedules for your unit. Payment is due July 8th 2018. Payment received after July 8th 2018 will be subject to an 18% interest rate." The condo is about 2 years old and we moved in less than a year ago. Essentially they are trying to get the building out of a deficit by forcing owners to pay for the months that the units were left vacant. In other words, they want us to pay condo fees for the months we were not living here. They also raised the condo fees from $300/mo to $430/mo a few months ago. They sent out a payment schedule and it looks like they are trying to scam pretty much every unit in the building for $2000+/-. I'm just wondering if this is even legal? I'm going to call a real estate lawyer tomorrow and see what they have to say, but if it comes down to it, I would much rather pay a lawyer the same amount than pay the property management company for their lack of budgeting because I strongly feel like I shouldn't have to pay them. Sorry for the long post, any feedback is appreciated thanks [link] [comments]  |
| Can developers and landlords charge lower than market value Posted: 08 May 2018 03:49 PM PDT So clearly there is a housing crisis. I know inventory is low, but can let's say: A new developer builds a home or 30 unit condos. Or let's say I buy a home or apartment complex and charge my tenants rent. Can that rent be below market value? Below what everyone in the neighborhood is charging since they pushed everyone that can't afford out? Would bringing down rental prices put pressure on the market? Or is this just something people don't do. Assume I pay the property in full. [link] [comments]  |
| Moving out due to medical reasons Posted: 08 May 2018 03:01 PM PDT Hi all, A friend of mine had to be hospitalized and asked his property manager kindly if he could stop paying rent because he has moved home to be taken care of by his parents (everything is happening in Ohio). The manager has quickly said that he is SOL but I wanted to ask the community here if he is able to take any further action. He is renting a room in a house close to his college campus. He pays rent on his own and since he is unable to work currently, he can't afford the rent. Thank you all for your help! [link] [comments]  |
| Should i buy a 3 family house in NJ ? Or move buy a house houston? Posted: 08 May 2018 02:32 PM PDT Facts here Personal account $5.5k 401k 5.4k Roth 15.5k Stocks/index funds $65k Emergency fund 11k Savings 65.1k Business account 15.2k Cash 2k I want to buy a 3 family add value to it use a 5% conventional loan than after 1 year make it a LLC and buy a 2nd home doing FHA and live in that one and rent the rest of the units house (1st house 3family ) ( 2nd home 2 family) Nj has high taxes is it worth it here ? Or move to houston [link] [comments]  |
| My apt building (NY) doesn't have a certificate of occupancy. 50 people live here. Posted: 08 May 2018 10:32 AM PDT I've lived in a brand-new apartment block in Williamsburg for almost three years. The building opened to renters in 2015, and I moved in then. Rent is low, and the area is prestigious. We've discovered that the building is illegal in several ways: — It doesn't have a certificate of occupancy — The basement, which breaks city code in several ways (e.g. it has no windows and is far below curb level), is rented out — Fumes from the laundry room and the adjacent freeway are probably not protected by the v. thin walls Thing is, because the area and the rent is great for NY, none of my roommates want to move out or cause a fuss. I would love some advice. [link] [comments]  |
| Looking to buy a house about 50 yards from a big solar farm... Thoughts on this? Good or bad? Posted: 08 May 2018 10:02 AM PDT We were looking at a house that is about 50 yards from a 18,000 panel solar farm... After doing some reading my wife is not a fan, what does everyone here think? [link] [comments]  |
| Anyone invest using Ground Floor before? Posted: 08 May 2018 12:32 PM PDT Thinking about getting into the real estate game as an investor, and maybe down the road as an actual landlord. Have any of you invested in real estate flipping using ground floor? How did it go? [link] [comments]  |
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