As a real estate agent, these are the things that make me cringe about other agents Real Estate |
- As a real estate agent, these are the things that make me cringe about other agents
- Philadelphia area Property Management expectations and pricing
- Sellers won't have items removed before closing...
- is the 1.78% excise tax considered a closing cost?
- Cities where you can buy a home on a 35k income
- When do rising rates (5%, 6%, etc.) start pushing down prices, and affect home-buying appetite?
- Should we be worried?
- Are there decent homes in Texas that I can buy for around 70k (at least 2 bedrooms)?
- We want to build our own house, what am I not considering?
- House overpriced by realtor way to salvage the sale? (Oklahoma)
- Does a person have to have a degree to be a successful real estate agent?
- Proof of funds in order to look at a house? Is this normal? (US)
- Question about a realtor moving too quickly
- Speaking in codes
- [Ohio] House smells like old people
- Using financing contingency to get out of contract?
- We bought a house last year and just found out that one room has no c/o. What to do now?
- Landlord question in regards to early lease termination [GA]
- Renovate meh house, or buy one I like?
- Friend bid on a foreclosed home for me, bank lawyer not accepting loan--what can I do?
- Commission rebate (NYC)
- How do you break down security deposit charges?
- Hep! First Time Home Buyer with awful Agent.
- Typical FHA Origination Fees (AR)
- First time buyer loan pre-approval questions.
| As a real estate agent, these are the things that make me cringe about other agents Posted: 07 Jun 2018 12:42 PM PDT [Agent - PA] ALL CAPS TEXT. You understand people are laughing at you, right? Abbreviation of common words. Large abbreviated to 'lrg'. Was it necessary to exude an 'e' and an 'a'? Use of old industry specific vernacular that no one knows anymore. Like those adreviation for gas log fireplaces I see in the MLS, or for different basements. Wtf is this shit, something you learned in 1972? C-mon, knock it off, ok? [link] [comments]  |
| Philadelphia area Property Management expectations and pricing Posted: 08 Jun 2018 03:01 AM PDT Hey all, I'm just at the start of looking for property managers for a rental in Philly. I've gotten 1 quote back and it looks like it is a standard Realtor's contract, PMA form revised 7/13 copyrighted from the Assoc. of Realtors. I'm a bit confused between the relationship of Section 4 and Section 14. In section 4 there is a check in every box with a note to see Section 14. In section 14 lists owner/broker "Who Pays". Is that just for financial responsibility? So if Condo/HOA Fees has "Owner Pays" checked does that mean I need to physically cut a check each month myself or that the PM will pay it and draw the funds from my the rent/my account? ...and while we're at it let's talk rates. Anyone want to share what the normal cut is around here? I was quoted 1 month rent for finding a new tenant and a 7% monthly charge. [link] [comments]  |
| Sellers won't have items removed before closing... Posted: 07 Jun 2018 04:06 AM PDT We are closing on a house tomorrow. Our attorney and realtor informed us yesterday that sellers won't have items removed from the house by then, such as a bed, dining room table, cleaning supplies, etc. They haven't been living in the house, so it's not a ton of stuff. We are moving our furniture in in about three weeks. Sellers have been very difficult to deal with (constantly things like this coming up), so we just want to be finished with the transaction. Attorney suggested that they put money in escrow to cover any moving damages, then we schedule a date where they can come pick it up. We are out of town every weekend until we move in, it costs me money to take off work during the day, and it's very difficult for me to make it to over to the house at night. Also, we just don't feel comfortable leaving anything unresolved after closing. Any suggestions/insight? Is this normal? Thanks! Edit: I'm seeing a lot of responses about what to do with the stuff. We actually don't mind keeping the stuff (it's only a couch, dining room table, bed, some chairs, cleaning supplies, a ladder, I think that's it). Our concern is that we want to close and then not have to deal with the sellers anymore. We want no contractual obligations either way, but we also don't want to delay closing. Thanks so much for all the responses so far! Edit 2: Reddit community to the rescue! Per nearly everyone's advice, we put our foot down and said move everything out or allow us to keep it, or we don't close. One of our big road blocks was that our attorney, who we now know to be very lazy, told us just to close and let them pick it up later, or you won't be able to close. We called another attorney who's a good friend (who does different type of real estate and recommended her) because of how adamant everyone on reddit was, and he stepped in and put her in line. She all of a sudden remembered how to lawyer. She just lost a huge referral source. Thanks again everyone!! I'll provide final update on closing tomorrow. [link] [comments]  |
| is the 1.78% excise tax considered a closing cost? Posted: 07 Jun 2018 07:14 PM PDT Seattle, WA here. Im selling my home, and we agreed to split closing costs. I dont understand however if this means we will split the 1.78% excise tax. I read the entire purchase and sale agreement, and do not see it mentioned at all. Just that the buyer and seller will split the closing costs. [link] [comments]  |
| Cities where you can buy a home on a 35k income Posted: 07 Jun 2018 03:23 PM PDT I almost can't believe that this is a thing... but then again being from the midwest (I live on the coast now), growing up there were (and still are) lots of decent houses in nice neighborhoods going for under $200k. The disparity between these kind of places and the mostly-coastal (but not exclusively) hubs is eye-opening, but I really like the fact that Walletwyse is evaluating middle America markets in a way that makes them seem attractive to homebuyers. http://www.walletwyse.com/wyse-awards/wyse-awards-best-blue-collar-towns [US] [link] [comments]  |
| When do rising rates (5%, 6%, etc.) start pushing down prices, and affect home-buying appetite? Posted: 07 Jun 2018 06:59 AM PDT Our experienced broker told us that around 5% buyers start pulling back from the market. However, she also said prices are "sticky." In your experience, what is the threshold interest rate after which prices start to come down, and how long does it usually take after rates reach that point? [link] [comments]  |
| Posted: 07 Jun 2018 08:44 PM PDT We are selling our first house, and it is under contract. We accepted a full value FHA loan offer. All good, right? Well, here's the rub. The buyers are using one of their moms as the real estate agent. She has a license, but works commercial leasing stuff. She had to get all the paperwork from my agent. Tonight we also found out their mortgage broker is the other person's dad. I'm just really worried about the conflicts that will arise. Should we be worried? We are in Florida. [link] [comments]  |
| Are there decent homes in Texas that I can buy for around 70k (at least 2 bedrooms)? Posted: 07 Jun 2018 08:29 PM PDT I'm trying to find a house in Texas to purchase (preferably North Texas). I make around 40k/year, I have no debt and I have 70k saved up. I want to purchase a house outright and have a roommate or two that covers most of my living expense. I believe this will be a great plan and something to help me get started being a landlord. The area must have decent internet plans since I work from home. [link] [comments]  |
| We want to build our own house, what am I not considering? Posted: 07 Jun 2018 12:00 PM PDT So we are looking to buy a plot of land, and build a house onto it. All the houses in the neighbourhood are on well+septic for water, and it is zoned for residential use. What else should I consider/what am I missing? Obviously building costs like foundation, building etc, but what else should I check? We're in Ontario, Canada [link] [comments]  |
| House overpriced by realtor way to salvage the sale? (Oklahoma) Posted: 07 Jun 2018 07:20 PM PDT Well my house has been on the market for 3 weeks now. We have had only 2 showings and one open house which resulted in 1 showing. It is in a quiet neighborhood and the house is completely updated throughout with most of the remodel completed in the last 2 years. So i do not think the location or condition is an issue. When my realtor came up with the initial asking price he came up with a price which was about 7 percent higher than I thought the initial asking price should have been. He stated based on comps and the condition of the house he thought his assessment was best and if needed be we could drop the price later on. Well after 2 weeks and 2 showings the price was dropped by almost 4 percent. We have had no showings since. I am afraid my agent severely over priced the house and am wondering if the sale is salvageable without looking like there is something wrong with the house? [link] [comments]  |
| Does a person have to have a degree to be a successful real estate agent? Posted: 07 Jun 2018 06:46 PM PDT |
| Proof of funds in order to look at a house? Is this normal? (US) Posted: 07 Jun 2018 10:57 AM PDT I called a realtor, wanting to look at a property. The conversation went like this: "Who are you pre-approved with?" Me: "This would be a cash offer." "Okay, we will need to see proof of funds." Me: "Okay, nevermind then." The fact is that I will close on a house in a few weeks and receive 150k then. But I've never heard of this requirement before and really don't feel like getting into it in order to look at a house which could be garbage. [link] [comments]  |
| Question about a realtor moving too quickly Posted: 07 Jun 2018 06:01 PM PDT Hi - not sure this is the right place to put this, so please redirect me if I'm wrong. I'm currently scheduled to sign a lease tomorrow but have a few red flags I want to validate first. Relevant backstory is that I live in a very competitive rental market (Boston). I emailed this lady off of Craigslist for a rental property last week, and she got back to me on Monday. We set up a showing Wednesday evening. The woman was nice, professional, and didn't raise any concerns. My girlfriend and I loved the place, and it was in our budget, so on our way home we called and said we'd be putting in an offer. She said "congratulations, I'll take it off the market". We filled out most of the applications last night, but I called the agent this morning to ask a few clarifying questions. She answered them well, and also said to put our credit scores on the application so she wouldn't have to do a hard pull. I submitted the app around noon today, and she got back to me around 7 saying we got the place (not that I expected not to), and could we sign a lease tomorrow, and that she could come to us or we could meet her near the place. On cursory reading, lease looks normal. That said, I'm just a bit concerned about the speed and lacklusterness that this seems to be moving along at. Are these real red flags, or is just a friendly realtor looking for a quick commission. Thanks! [link] [comments]  |
| Posted: 07 Jun 2018 05:09 PM PDT Hello r/RealEstate I have been looking into purchasing an office space that has been converted into a 3 bed/1 bath apartment(1041 sqft) with an additional 1041 sq ft unfinished walk out basement I am looking at turning this basement into a second 2 or 3 bedroom apartment Zoning in the town allows for additions etc. I'm concerned about building codes How would I be able to find information on this topic specific to my city/state without hiring a consultant I would like to know before I make an offer For reference Biddeford/Maine Thank you [link] [comments]  |
| [Ohio] House smells like old people Posted: 07 Jun 2018 04:57 PM PDT Looked at a house for sale this week that was built in 1966. The original owners (an elderly couple) still live there. The house smells like an old person's house. You know the smell I'm talking about, right? What causes that smell? How can I get rid of it? [link] [comments]  |
| Using financing contingency to get out of contract? Posted: 07 Jun 2018 04:55 PM PDT Hey guys, We agreed to buy a house in chapter 7 bankruptcy and we were told that it was a super simple transaction and the court would approve it quickly. However, by now the court appointment keeps getting moved - interest rates are worse and my wifei and I feel stressed and that this is not what we signed up for. Any advice on how to get out of the contract without losing our earnest money? Is there some trick that we could do with the financing contingency? We are already fully underwriter approved for our initial loan of choice, but maybe we could pick a more difficult loan like 15 year to get rejected? State of Washington Any advice would be appreciated! [link] [comments]  |
| We bought a house last year and just found out that one room has no c/o. What to do now? Posted: 07 Jun 2018 04:48 PM PDT We bought our house last summer. We had a realtor, lawyer, inspector, etc. Due to a job change, we want to sell the house. Our listing agent discovered the bonus room over the garage does not have a c/o and a permit was never requested. The blueprints at town hall have the room labeled as "unfinished". I contacted the sellers and they said they finished it after they bought it (they are the original owners and say they used the same builder but that it was finished after the closing). Our agent says we can't sell it without getting the c/o. Our old agent and lawyer are saying "not my problem". Are we stuck with paying for the permits and c/o? Our town imposes an "afterthought" permit, so they will inspect it finished, but we need to hire an architect to draw up plans, sign off on it and then the town charges 3 times the normal fees. We are estimating to be around $5,000 total. In addition, we need to take the house off the market while we fix this. Do we have any recourse? Edited : this is in NY [link] [comments]  |
| Landlord question in regards to early lease termination [GA] Posted: 07 Jun 2018 04:42 PM PDT I bought a property that had a lease agreement until 12/31/2018. Lease states that tenant can terminate lease early with 60 day notice, paying 3 months rent, and $300 fee. Problem is my name is nowhere on the lease since I bought the house from someone else. Their name and the tenants are on the lease? I emailed the tenants when I purchased the house letting them know the lease is still in effect and gave them my contact info. They called me today saying they are moving out 06/31/18 and I cannot do anything since my names not on the lease. Thoughts? I am new to real estate and was planning on moving in when their lease was up, I am in no position to move in now. They have no money and cannot afford to pay (Their words). Just want to know if I have the right to the fee and if they dont pay can I take them to small claims? [link] [comments]  |
| Renovate meh house, or buy one I like? Posted: 07 Jun 2018 09:07 AM PDT DH and I bought our house when we were young, (I was) 8 mos. pregnant, and broke. Fairly high interest rate (from 1996), but I've been paying 13 payments/year on it, and I now owe 14K. 1960s ranch, paid $58K, which was a great price in this neighborhood at this time. We've put a new roof, new AC, new windows, new exterior doors, new flooring (LR,DR,Kitchen), new 3/4 bathroom, new stove/dishwasher/sink, etc. It isn't our dream house, or anything like it. It is housing, and I'm grateful for it, but it has a lot of flaws that bug me. It's very basic, and it isn't at all charming. It's in a neighborhood that is, like the house, just ok. I hate the city, but I'm going to be here because of my job for at least 3 years plus. We're in North Texas, not in the DFW metroplex. So my dilemma is, should we renovate it to a house that we like? In this neighborhood, that would put us at the top of the likely price range (or maybe we couldn't recoup at all). The real estate prices in this area have been depressed for decades, which means you can still get a nice, basic brick ranch not much nicer than ours in the $90-low$100s. I'm estimating that my house would go in the high $80s. I'd want to do landscaping, front and back, new kitchen, new main bathroom, and new carpet/flooring in the rest of the house (which we'd do before selling anyway). The house is 1150 sf. We could also sell and purchase something more to our taste, like a 1930s-40s cottage that's had most of the update work done, and in a nice, walkable, charming (potentially more prestigious) neighborhood. Buy-in $150-200K. BUT... if I got the opportunity to move us to a city/area we liked better, we'd be fairly upside down on the new house, into which we'd have sunk all of our equity. I definitely do not want to retire here. I'm about 12-15 years from Fed retirement. Can you advise me, gurus? [link] [comments]  |
| Friend bid on a foreclosed home for me, bank lawyer not accepting loan--what can I do? Posted: 07 Jun 2018 04:32 PM PDT For a while now, I really had my sights set on this one house in Westchester County, NY (it's my literal dream home). But I was in another state and so I told my friend to bid on the property for me. He won the bid for me but now that I am applying for loans, my friend said that the bank lawyer will not allow the loan to be in my name since my friend bid on the property for me. I really don't know what to do, and I'll be devastated if I lose my 10%. What can I do in my position? What are my options in saving the home? [link] [comments]  |
| Posted: 07 Jun 2018 04:14 PM PDT Hello! I'm currently negotiating for a house and I had a question around commission rebates in NYC. We're currently buyers working without a broker or agent. Is it typical to ask the sellers agent (who is probably getting the full 6% commission) for a rebate - say around 2%. I just read about this and didn't know if it was typical or even possible. [link] [comments]  |
| How do you break down security deposit charges? Posted: 07 Jun 2018 03:52 PM PDT I have an agreement to sublease 2 of the 3 bedrooms in the house I rent from my landlord. We have a good working relationship and everything has gone fine with my subleased tenants for the past 4 years, up until now. Our most recent subtenant moved out on the 31st. The room was completely gross when she moved out. The fairly new laminate floor boards are starting to bubble up, I'm assuming from her cat, and there was paint on the floor that I managed to scrub off. The window screen was punched through and needs replaced. There was cat urine and poop in multiple places. And she left behind half of her belongings for me to deal with, including a queen sized bed and large shelf. I took a $350 security deposit at the beginning of the sublease. The way my lease is written is basically the landlord doesn't deal with the two rooms at all, so I'm assuming the landlord would charge me and I would charge the subtenant. Is there a protocol for this situation, or is it just my responsibility? The damage to the floor is permanent but isn't bad enough to justify replacing the whole floor. I'm not sure how my landlord will want to handle this, so I'm just trying to figure out what to expect before I give her a call. Would you charge for the full cost of the floor, are you legally allowed to with out actually replacing it? Can you charge more than the security deposit if the damage costs more than $350, or would that expense transfer to me the tenant? Can I charge for cleaning and removal of garbage if I did it my self? Also, can or should I add anything into my sublease to protect me from this situation, such as inspections of the room, or is it assumed the room should be left as found? Any other information you can add would be appreciated. I've had 5 different subtenants, but this one is the one that's taught me why having rentals can be so awful. I suppose I have been really lucky so far. I've learned a lot about what not to do, not allowing cats being number 1 on my list!! Edit: Central Florida [link] [comments]  |
| Hep! First Time Home Buyer with awful Agent. Posted: 07 Jun 2018 03:49 PM PDT My husband and I are buying a house in SC. From my understanding and it's in our contract appraisal is a contingency. Well our house appraised for less. The seller's agent is saying they won't come down on the price because a house sold for more after our appraisal. The house that sold for more has all the upgrade. Our agent actually told us square feet don't matter and we need to use a different lender or pay more. She is not fighting for us. What should we do? I was thinking of reaching out to the owner of the agency she works for or maybe a lawyer. Please Help! [link] [comments]  |
| Typical FHA Origination Fees (AR) Posted: 07 Jun 2018 03:43 PM PDT What are some typical percents on roughly 120K mortgages? 1, 2, 3 percent? [link] [comments]  |
| First time buyer loan pre-approval questions. Posted: 07 Jun 2018 03:24 PM PDT My wife and I are looking at possibly buying a house instead of paying rent. I am in the upstate SC and rates can be cheaper monthly to buy rather than rent. Both my wife and I have good credit scores as they are around 750. However, we don't really have a lot of capital right now. Can we get pre-approved for around $200k? Our combined take home pay is around $2k biweekly. If there is any other information needed please let me know and I will try to provide it. [link] [comments]  |
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