PSA, make sure your water main is off before having the city turn on the water. [Frisco, TX] Real Estate |
- PSA, make sure your water main is off before having the city turn on the water. [Frisco, TX]
- "We Buy Houses" is interesting to my friend and he thinks they have a decent offer. What am I missing?
- Responsibility of Seller for Pre-Closing Walkthrough Condition?
- Possession after closing
- Pet laws?
- Noob to real estate, attempting to rent out first condo- does it make sense? [md]
- Option to buy my land lords rental property
- Advise for 20 year old looking to purchase RE with little amounts of capital?
- FTB - Attic Inspection, a big deal?
- Replacing septic after closing
- New to PDX - trying to buy a home
- Offer accepted April 24. Closing June 15. Sellers title attorney reporting an issue they "think" they will have taken care of by closing date.
- I've been asked to come to a group showing for a rental. Is this normal? It seems almost insulting
- Maryland residential purchase and sale agreement template?
- Is it customary for new homeowners to get a buttload of junk mail?
- Any concern with a house backing up to a small secluded pond?
- Can I pitch this idea to the Director of a real estate agency I work for?
- Is it possible for someone to become a real estate agent with little money?
- Subject to Capital Gains Tax?
- confused about closing (IL)
- Mortgage loan sold then sold again. Now with Freddie Mac. Haven’t been able make first loan payment yet with loan account # changing. What to expect? Also what about escrow charges like taxes and home owner insurance
- Pricing strategy, what works?
- Best Places in US to buy Real Estate??
- My family is moving to a new city next year. How to leverage my suited house to buy another? Alberta Canada
| PSA, make sure your water main is off before having the city turn on the water. [Frisco, TX] Posted: 01 Jun 2018 10:54 AM PDT So, I just dodged a huge bullet. We closed on a house last week and had a fews days lease back with the seller. We were just finishing up our walk through and getting the keys when the city water authority showed up to turn on the water. Sure enough, we hear water spraying somewhere in the house. I run into the laundry room to find that the cold water valve on the water is broken and stuck open. Long story short, the city water authority person turned off the water and I found the water main and turned of the water for the entire house. No permeant damage done. Had we not been there, the house wold have flooded and my insurance company would likely have taken the seller to court. I feel unbelievably lucky today. [link] [comments]  |
| Posted: 01 Jun 2018 06:30 AM PDT I am not the owner, my buddy is. He said he responded to a "legitimate" ad about house buyers (not the street corner signs) where the are offering about $160K on a house likely worth $165-170K. The details speak to a "$8K fee" and a requirement to the fixes in the house coming out of the sale price. I know that the house doesn't need anything to fix it (major things) and I also know that if he went with a realtor he would likely get asking price because we are in a "hot" market (Charlotte). So I don't GET where the company makes any money other than the equivalent of a real-estate agent's 6% if he were to sell normally. Are there other opportunities here that I just don't see? Is buying and holding their play (doesn't seem so)? I feel like their only option is to totally renovate the house and have it come out of his sale price. Which would seem like a scam, but that would depend on the contract wording. [link] [comments]  |
| Responsibility of Seller for Pre-Closing Walkthrough Condition? Posted: 01 Jun 2018 06:08 PM PDT I know it's commonly said that, at the time of closing, your home should be in the same condition it was in during the showing/inspection, including any agreed upon repairs. However, what's the reasonable expectation of the seller when it comes to things that weren't readily apparently during the inspection, but come to light once all the furniture, wall hangings, etc. are gone? I'm not talking about major issues like giant holes in the wall, but more cosmetic things like scuffed floorboards, small holes in the wall from hung pictures, chipped paint, etc. I'm sure some buyers will make a bigger deal out of these types of issues than others, but curious what my actual responsibility is as a seller. Assume the contract does not specifically mention anything about these types of cosmetic items. [link] [comments]  |
| Posted: 01 Jun 2018 10:14 PM PDT So we're in the process of selling our house and got an offer. However, instead of closing on the 29th of June , we wanted to close on the Monday after the weekend (7/2), however the buyer is adamant on closing 6/29 and is willing to close and take possession of the house on the later date. I don't understand why a buyer would be willing to do this and am wondering if there's a catch some where... Thanks for all the help in trying to understand this process!! [link] [comments]  |
| Posted: 01 Jun 2018 09:35 PM PDT Hi everyone, I am located in NB Canada. We are in the process of buying a mini home that is located in a trailer park — so we would own the home, but would be leasing the land. Everything is approved and good to go with the exception of the parks approval. They have a rule against dogs over 25 pounds, but I have seen dogs in the park that are definitely heavier than that. My dog is only 5 pounds over the weight limit. Do we move in and bring the dog, hoping that no one says anything since it doesn't look like the law is enforced? Dog is very rarely outside Advice very much appreciated , I am so worried about not being able to get this home because my dog is 5 pounds over the weight limit! This rule doesn't make much sense to me because the home is mine, what do they think the dog is going to do to the land? [link] [comments]  |
| Noob to real estate, attempting to rent out first condo- does it make sense? [md] Posted: 01 Jun 2018 09:35 PM PDT Howdy everyone, First condo was bought for $190,000 in metro DC area with a 15 year mortgage and a great rate (1.5% I believe). I'm trying to move and want to rent out the property for $2500 per month. It's currently worth $235,000. The HOA fees are appx $450. The problem is, this is a higher-priced property in a lower-priced area. It's been 2 weeks, I've posted it on Zillow, Craigslist (every day), Apartments, and PadMapper, with no bites so far. I'm thinking I may have to lower the asking price to get a tenant, but then we'd lose money. Is this worth it? I think in 10 years when the mortgage is paid off, it would be nice to have that revenue stream. What do you all think? [link] [comments]  |
| Option to buy my land lords rental property Posted: 01 Jun 2018 07:02 AM PDT My land lord heard I was buying a house and offered up his first rental property that he bought 30years ago. We live in a renters city west of Cleveland with many side by side or up down doubles. The option to live in one and rent the other sounds appealing right now. (I'm already living in one) What are a few things I would need to do to protect myself. Can I get a fha or traditional mortgage with this option He would like to do the sale with out realtors - obviously. - what sort of tasks should I be taking over that usually a realtor would handle. Would I need an inspection still? The building is newly updated with cosmetics and appliances. Our city mandates yearly inspections so the properties stay up to code. So like my current rental I'm sure it's well cared for. This would be my first house so I'm unsure of how to handle this unique purchase if it comes to fruition. Thanks for the help [link] [comments]  |
| Advise for 20 year old looking to purchase RE with little amounts of capital? Posted: 01 Jun 2018 07:15 PM PDT |
| FTB - Attic Inspection, a big deal? Posted: 01 Jun 2018 02:29 PM PDT Hey, So I'm hopefully buying a house in Spokane, WA. I've got it under contract and I had the inspection done yesterday. Unfortunately there was no way for the inspector to get into the attic to check it out. The seller of the home is willing to remove one of the gable vents to let the inspector look inside the attic. The inspector said he didn't see any immediate cause for concern but due to the age of the home (1910) that he would want to check it out if he was the one buying it. As far as I can tell the seller seems unwilling to cut some kind of access into the attic so the inspector can actually go in it to check it out. It won't cost me anything to have him come back and inspect the attic, but I'm a little hesitant to push the issue with the seller due to how competitive the market is right now. In this price range it's entirely possible that I may get beaten by a cash offer from an investor. My terms are FHA with an inspection contingency. Some of the urgency is due to my current lease agreement going month to month starting July. I really don't want to start the house search process all over again. The house is essentially move in ready, the plumbing and electrical are all up to snuff and the roof is in decent shape. My intentions for the home are to live in it long enough to spruce it up a bit, build some equity and then potentially rent it out or sell it. At this point in time my lender can't use my commission income for my loan because I haven't been at my current job long enough. My mortgage payment would be less than $100 more than my current rent payment, which is surely to go substantially higher in the next few years due to how tight the rental market it is here and where my apartment is located. Also my offer is less than 110K with the seller covering closing costs ,and the house is a 1 bedroom 1 bathroom bungalow with a nice yard in a decent neighborhood. Sorry if this post seems disjointed and hasty, this whole process is a lot of work and there are a lot of things going on in my personal life that are running me into the ground. I kinda just wanna pull the trigger on the house just to get this over with. Any useful thoughts and opinions are welcome, thanks. [link] [comments]  |
| Replacing septic after closing Posted: 01 Jun 2018 07:02 AM PDT We're first time homebuyers in southern Delaware under contract on a house built in 1985. Recently had our inspection and it turned up that the crawl space has mold and standing water issues that will need addressed by removing and replacing insulation, cleaning the mold, and re-encapsulating the space and installing a dehumidifier. The septic also failed inspection and will need replaced. The sellers are heavy smokers and have offered $6k in credits to address the cigarette smoke odors and crawl space issues. They have also agreed to place $8k in escrow for the septic, which wouldn't be replaced until after closing. None of these issues are dealbreakers on their own, but together they're starting to add up. We walked away from one house 6 months ago because of major mold issues (far worse than this house) and so we're not sure if we're being overly cautious this time or if these are issues that really warrant concern and reconsideration. Has anyone dealt with replacing a septic after closing? [link] [comments]  |
| New to PDX - trying to buy a home Posted: 01 Jun 2018 05:30 PM PDT |
| Posted: 01 Jun 2018 09:50 AM PDT As the title states, we've been under contract since April. Seller originally wanted July 1 close date, but we asked for June 15 and they agreed. Original ask was $172,500, and we offered $170k right out of the gate. They accepted. Seller's attorney is dragging their feet getting the title and tax information to my lender. All we know is some sort of issue with the title related to marital status and homestead declaration. (Florida). Here we are, two weeks before closing, and they have gotten some estimates over to my lender, but not all the numbers. The "attorney is still working through the title issue." I'm pretty irritated because we gave them a large amount of time to close, and, as a skeptic, I think they're dragging their feet to try for a July 1 closing for their own personal reasons. Meanwhile, my rate expires on June 16, and mortgage rates are skyrocketing. If the seller doesn't close on time, for whatever reason, I don't plan to grant an extension unless they're willing to come back to the negotiating table and lower the price, or replace the roof or replumb. (Issues found during the inspection that I did not request to be fixed.) I would appreciate any and all thoughts, advice and experiences that anyone would like to share. PS. The lender representative asked me why the seller didn't do a title search prior to listing. Is this common? [link] [comments]  |
| I've been asked to come to a group showing for a rental. Is this normal? It seems almost insulting Posted: 01 Jun 2018 09:47 AM PDT I filled out an application, submitted it, and was then told to attend a group showing. Is this normal? I'm not too keen on attending what sounds like it is basically a personality contest so I can rent the place that I've already offered to pay for. [link] [comments]  |
| Maryland residential purchase and sale agreement template? Posted: 01 Jun 2018 05:15 PM PDT How do I get my hands on a template for a residential PSA in Maryland? Sister is buying moms house sans broker and so the title shop just said to draft anything even on a napkin, lol. Looking for something more formal than that. Any advice or things to look out for when doing this without a realtor/lawyer? Thanks a lot! [link] [comments]  |
| Is it customary for new homeowners to get a buttload of junk mail? Posted: 01 Jun 2018 11:05 AM PDT I'm getting a laughably large number of junk mail daily with my name on it. I optioned to have my mortgage company to not share my info with third parties, so who then is sending me all this crap and how do I make it stop?! [link] [comments]  |
| Any concern with a house backing up to a small secluded pond? Posted: 01 Jun 2018 01:06 PM PDT Hi there, just toured a house (our first actually) that meets basically all our needs and most of our wants. Our biggest holdback is the pond. The house's lot is about .25 acres and the pond is probably about 1/3 acre in total size. The pond is basically in the middle of a dozen houses that all back up to it. As far as I can tell there's no public access to it and not sure if there's even an easement on someone's property for the city to access it. It's tiny and full of algae right now. City says they treat it for mosquitos. Lots of tree cover so nice privacy. Very humid. Right now there's no fence, it's about 15 feet of mulch slopping down from the grass. We'd likely put a fence in (some neighbors have one so it should be ok). Cons seem to be extra humidity, potential for mosquitos, small children drowning (no kids yet), balls rolling in. Pros are the privacy and we like the tree cover. The yard is small, we want a small yard but it might be a bit too small because of the slope down to the pond. We joked about ice skating on it in the winter... We're in the Twin Cities area MN. [link] [comments]  |
| Can I pitch this idea to the Director of a real estate agency I work for? Posted: 01 Jun 2018 12:15 PM PDT So I work as an admin for a medium-sized real estate agency and part of my duties as an admin are to go through all newly marketed properties posted on RightMove, find out their full address and send letters informing them of our services in hopes of getting them to market their property to sell through us. The proccess I was taught to find the address when I first started working there takes a lot longer than I'd like and it's awfully dull and repetitive, so I started looking for shortcuts and eventually figured out a way to automize it with the help of a friend who works in software development. Basically this web app can log all the details that I need from a newly uploded property, including the full address and then all I'd have to do is print out the pre-made letters and send them out. This letter touting is not very effective, at least in the area that my branch is at (1/100 responded and signed up with us so far to sell), but I've heard from other branches that they've had more luck in their areas. Basically this kind of direct marketing does not require any investment, apart from paying for the admin's time, but I figured if it was automized then the company could reach out to every single newly uploaded sales property in the area of every branch = $$$ Anyways, I started working here 2 months ago and have only met the company Director once, so I'm just wondering if I'm in the position to pitch this web app for = $$$ and if so, how much. Any help would be appreciated, cheers. [link] [comments]  |
| Is it possible for someone to become a real estate agent with little money? Posted: 01 Jun 2018 06:56 AM PDT |
| Posted: 01 Jun 2018 11:53 AM PDT |
| Posted: 01 Jun 2018 03:18 PM PDT I've heard you should be very careful at closing and not go through with it if something is wrong. What am I supposed to be looking out for? What would be grounds to not go through with a closing? I need to pay the down payment by wire transfer. My understanding is that those take a day to clear. If I wire money to the title company the day before and then choose not to close for some reason, what happens? Our final walk through is the morning of closing. If I wait to wire the money until after the walk through or after we've reviewed the final paperwork, does that mean we can't close that day? What would happen then? [link] [comments]  |
| Posted: 01 Jun 2018 02:16 PM PDT Just seems weird guessing each time each of these companies get like a founders fee and then retain a small .0x% of that interest and loan each time it gets flipped? Just seems fishy. And wondering about people's experience with this procedure Georgia Florida united stared of America. Atlanta Wisconsin Los Angeles [link] [comments]  |
| Posted: 01 Jun 2018 08:11 AM PDT I am the homeseller selling with an agent looking for non-biased opinions which is why I'm asking you all. Home is currently listed at $174,900. Obviously I want as much as possible out of it. $165,000 is bottom. I prefer $170,000. Most people will look at the price and know they will get it cheaper. Do we stick with the $174,900 or lower it to the price I want $169,900 and not haggle at all or lower it to $173,900 and haggle to $170,000 or leave it where it is? Our realtor believes $165-170,000 is where we'll end up. [link] [comments]  |
| Best Places in US to buy Real Estate?? Posted: 01 Jun 2018 10:05 AM PDT I have a friend who recently came into some cash via inheritance and 2 months after retiring. Not sure how much, but the person is talking about spending anywhere from 100 grand to 1 million on some sort of rental property or even a turnkey business that he can pay a gm and not work it too much. My friend also mentioned he was up for just buying land and sitting on it for awhile until it appreciates. What are the best places in the US to buy land? [link] [comments]  |
| Posted: 01 Jun 2018 01:48 PM PDT If it's even possible, when we know the area we want to settle in I'd like us to buy another suited house rather then renting but I don't want to sell the house I'm in now either. Is there a way to leverage this to buy that? Thanks! [link] [comments]  |
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