Buyers want to move in Real Estate |
- Buyers want to move in
- What are the best books for Property Management?
- What Entity Owns or Controls Multiple Listing Service?
- How do I sell a house in (what I think to be) very poor condition quickly?
- First time home buyer. Need advice on inspection.
- Landlord sells house before we even got to move in? (AU)
- House on and off market multiple times in past 2 years. Red flag?
- How to buy a house without a buyer's agent? (PA)
- How would you finance converting an old VFW to a single family home? [MA]
- [MN] Buying a condo in a mixed use building (e.g. Hotel/retail/office)
- Any loans out there for less than 20% down that aren't primary?
- Parents just got a Sheriff Sale notice. Anything that can be done at this point to retain the ability to sell their house?
- Los Angeles: FIL moving out of country, MIL will live with us - sell our condo and her house to purchase upgrade or rent out condo and move into her house?
- e-Notification of termination to tenants
- [IL]How do I figure out if a unit in a property that I'm buying is a legal unit?
- Not your average home valuation. Help please.
- Already closed..still waiting on funding?
- Jack N Jill or Loft? Resale Value!
- Question about a 1031 Like Kind Exchange
- Got an offer - one issue
- Turn Key property in Decatur, Georgia (Missed opportunity?)
- [IN] Getting utilities on to inspect foreclosure
- Premium pricing on new builds?
| Posted: 01 Jul 2018 02:22 PM PDT My house is for sale and is under contract. The buyers are selling their home and then will be buying mine at the end of the month. They are wanting to love in a week before the house closes. Has anyone ever done this before? I'm looking for advice [link] [comments]  |
| What are the best books for Property Management? Posted: 01 Jul 2018 06:55 PM PDT Title says it all. For new Property Managers which books do you guys think have the best overall information about how to deal with tenants, home renovations, etc. Anything like a guide or something that has steps on how to deal with certain tenant issues? Thanks in advance. [link] [comments]  |
| What Entity Owns or Controls Multiple Listing Service? Posted: 01 Jul 2018 08:16 AM PDT I know this is a stupid question, but what entity owns MLS that agents, buyers, and sellers utilitize for real estate transactions? I know there's an MLS system in each state and agents only have access to one they are registered to within their state or region. Finally, how do servicers (i.e Zillion, Redfin) are able to list listings of identity of properties? Do they own that information that they post on their website/application? Location: Atlanta, Georgia [link] [comments]  |
| How do I sell a house in (what I think to be) very poor condition quickly? Posted: 02 Jul 2018 02:49 AM PDT Hello everyone! I have a family member who was recently in the hospital due to some serious alcohol-related issues and is now out and staying in a hotel as of yesterday. Their house is pretty bad and has what looks like black mold basically everywhere (growing up the walls, on the furniture, etc.). I know for a fact the foundation needs to be redone and it probably needs a slew of other repairs due to an almost total lack of maintenance for the last 10 or so years. The plan is to find them an apartment and move them into it ASAP. The problem is that the house still has ~$50k on the (what I understand to be) upside down mortgage. The house is in Texas. I am flying back home for about 3 weeks to take care of a bunch of things, including selling the house. At this point, the plan is to get rid of it ASAP as-is and just try to get enough money from it to cover what's left on the mortgage and break even to just be done with it. There is no money to put into repairs and we need to get rid of the note as soon as we can so the family member can hopefully begin paying rent on a new apartment and avoid an overlap of payments. Would my best option be to look into the we-buy-ugly-houses type companies or do I have other options? I have a very limited amount of time to get this done once I get there and am pretty much the only person who will be able to take care of it, so I'd like to have it as planned out as possible before flying out. Thanks in advance for your help! [link] [comments]  |
| First time home buyer. Need advice on inspection. Posted: 01 Jul 2018 08:33 PM PDT I am a first time homebuyer looking to buy a house in new England for about 180k. I've been working with my real estate agent and we submitted an offer this morning. It seems we have hit a snag with the sellers agent. The sellers agent wants an inspection done earlier than my agent can get someone to be available. Basically the sellers agent wants the inspection done this week, and my agent won't have any one available until next week. According to my agent, this sellers realtor made some threatening text messages towards my realtor about this issue. As it stands right now we are at a stand still, the offer was verbally accepted by the sellers and we haven't received a signed contract, we were supposed to receive one at the end of the day. My agent is working with the sellers broker directly tomorrow to clear the situation up (hopefully). Has anyone else run into this issue? It seems like a silly thing to argue over, especially since the initial inspection hasn't taken place yet. I really liked the house and would hate to lose it over a weeks timing, the sellers asked to push the closing back a month as well which I agreed to adding to my disbelief. Am I screwed? Edit: I don't think its standard practice to go directly to the broker instead of through the agent. Has anyone had success going over the sellers agent head directly to their broker? [link] [comments]  |
| Landlord sells house before we even got to move in? (AU) Posted: 01 Jul 2018 10:26 PM PDT Ok so me, my mother and my sister have been looking for a house to rent for the past couple months now in Melbourne, Victoria and after searching for those months had finally found the perfect little place which we applied and were accepted for. So the real estate agency sent out digital copies of the residential tenancy agreement which both me and my Mum had signed digitally. Today we were supposed to go get the keys and to our shock the agency rang us up to tell us that the landlord had sold the property. We were very upset and distraught about this and we are just wondering if anything here sounds remotely dodgy. I mean we had signed the contract agreement and all so can they really do this is what I'm asking. (AUSTRALIA) [link] [comments]  |
| House on and off market multiple times in past 2 years. Red flag? Posted: 01 Jul 2018 04:22 AM PDT Listed in 10/2016; removed 5/2017 Listed in 7/2017; removed 10/2017 Listed again 6/2018 What's going on with THAT?!?!! Northeast Ohio [link] [comments]  |
| How to buy a house without a buyer's agent? (PA) Posted: 01 Jul 2018 08:05 AM PDT Has anyone on here purchased a home not using a buyer's agent? If so, what process did you use? I had a family member who said that they used a title company to facilitate the process. Another person who said they used a real estate attorney. I'm not sure which is the best way to proceed, and am looking for other ideas as well. The market where I'm investing is not a hot market. It's low income and I don't have to worry much about someone needing to negotiate on my behalf. Plus, there are a lot of homes that fit my criteria for investment, so if some of the deals don't work out, it's no big deal. For context on why I want to proceed without a buyer's agent, details are below: I posted yesterday that my current realtor wants me to sign a buyer's agent agreement that puts me, the buyer, on the hook for paying a significant part of the commission. https://www.reddit.com/r/RealEstate/comments/8v7uhq/broker_fees_paid_by_buyer_what_does_this_clause/ This is the third realtor I've used in that area. I already purchased one investment property about 18 months ago, and plan to purchase several more in that area. The first realtor I used, for the purchase of the first property, gave me bad information every step of the way.* (more on this first realtor at the end of this post if you're interested). The second realtor I used literally stopped talking to me when I told him I was ready to make an offer on a house. He had spent hours taking me to 8 different properties, and when I was ready to make an offer, nothing. Never heard from him again. I contacted him about 8 times over a 6-week period. I was literally concerned he might have died. And now, this third realtor that I posted about yesterday ... Yeesh. Anyway, for those of you who have used a lawyer, how much did it cost? Did the lawyer draw up all the paperwork himself/herself? Or did you draft it first and then just have the lawyer review it? Any other methods for buying a house without an agent? ** My first realtor said I could finance up to 3% of the closing costs, and drew up the offer paperwork to that effect, when in reality for investment properties it's only 2%. She was impossible to reach and took days to get back to us. And, she told us not to delay closing even though one of our contingencies - that the seller remove a lot of large junk from the back yard - had not been met at final walk through. Our realtor said she'd come back the next day with her husband's truck and remove the junk for us, just so we wouldn't have to delay closing. You guessed it, she never showed up with the truck, and we never heard from her again, despite trying to reach her for several weeks. Serves me right for not getting it in writing). [link] [comments]  |
| How would you finance converting an old VFW to a single family home? [MA] Posted: 01 Jul 2018 08:04 AM PDT I'm curious about how this would work in general, but the best context I have is a personal example. I'm really hopeful in that I have stumbled upon a great opportunity. The town that I live in owns an old VFW that was converted to a daycare. Concrete block construction, regularly maintained, great roof lines despite its "industrial" paint job. It's been put out to bid before and there was (and still is) no interest. They want to get rid of it for a fantastic price, that including the costs of rehab, would allow us to have a home and amount of land that otherwise wouldn't be possible. I'm really comfortable with what I would be getting myself into in terms of rehab work. But how on earth does one finance converting a commercial property to a residential one? (The conversion would return it to a conforming zoning use.) I can definitely do more of my own research, but I don't know where to start. 20% down including financing the rehab wouldn't be an issue. We could also likely have the cash to make it habitable, but not finished, and only finance the purchase price, still with 20% down. Any guidance? Thanks! [link] [comments]  |
| [MN] Buying a condo in a mixed use building (e.g. Hotel/retail/office) Posted: 01 Jul 2018 06:51 AM PDT I'm in MN and there has been a surge of buildings in my city being built or planned to be built, that are mixed use. When I note "mixed use" I mean , the condos are at the top floors of the building, the hotel is the middle floors and the retail/office space is the ground or 2nd floor. I am in a low cost of living city in MN. The real estate market is warm, but not outrageously hot in comparison to larger cities. My employment is quite steady and my employer is fixed to this location (e.g. healthcare).
Thanks! [link] [comments]  |
| Any loans out there for less than 20% down that aren't primary? Posted: 01 Jul 2018 07:02 PM PDT I'm looking at a hot investment opportunity from a seller who has verbally accepted my offer but I can't get a primary because I already have a primary and a second home in the area. Is there any other loan out there that I can get at 10% down? California [link] [comments]  |
| Posted: 01 Jul 2018 05:27 AM PDT |
| Posted: 01 Jul 2018 06:49 PM PDT My wife's parents are immigrants and after 40 years her father is planning on moving back to his home country. Her mom does not want to leave since her children and grandchildren are here. She would not be able to keep up her house on her own so would live with us in some arrangement. My wife and I own a condo in a nice LA neighborhood. It has more than tripled in value in the 13 or so years we've owned it. Her parents own a house in the SGV in a decent enough neighborhood. We could all fit in the SGV house but not our condo. I have a child who will be starting elementary in another year and there are no good public school options at the SGV house. We could sell both properties and get a house in a 3rd neighborhood nicer than SGV that has great public schools all the way through high school. I just worry about giving up the condo in a hot neighborhood, and the idea of having income property is attractive, even if I'm using a lot of that on private school. On the other hand I wonder how much more a condo could actually go up and if it's better to cash out now for a house I can grown old in. [link] [comments]  |
| e-Notification of termination to tenants Posted: 01 Jul 2018 07:45 AM PDT I have some tenants in my rental property, who are very young. As far as I can tell, they don't even bother checking their US Mail. What's the consensus on e-notifying them? For the entire duration of their occupancy, they insist on FB Messaging me, or occasionally text-messaging, whenever there's an issue. I'm happy to send them notice to quit via US Mail, I just want to ALSO let them know in a way that they'll actually find out before I show up in 30 days with a building crew. EDIT: Property is in Texas. [link] [comments]  |
| [IL]How do I figure out if a unit in a property that I'm buying is a legal unit? Posted: 01 Jul 2018 05:47 PM PDT I've been actively looking to buy a quasi investment property in a village just outside of Chicago. My intention is to find a 2 or 3 flat, live in one unit, and rent out the others. Today I did a showing in a 2 unit building with a fully furnished basement. I asked my realtor about the possibility of converting the basement to a legal 3rd garden unit and she brought up a concern that I don't agree with. She says the basement wouldn't qualify as a legal unit because it doesn't have 2 appropriate exits. The basement unit does actually have 2 exits, but her argument is that one of the exits is a staircase going up to the exit on the first floor and doesn't go directly outside. This makes no sense to me as all exits, that aren't on the first floor, are set up this way. I've also read through the village's building code and the only requirement is that each dwelling has two safe and unobstructed exits. What is the correct process to find out if the basement would qualify as a legal 3rd unit? Do villages have inspectors that can come out and give an opinion? Do I need to contact a third-party firm to do an inspection? [link] [comments]  |
| Not your average home valuation. Help please. Posted: 01 Jul 2018 07:52 AM PDT I am in the myrtle beach, sc area and looking to purchase my last home, not my first. This area is the second fastest growth area in the country. People coming in from up north with their big money and paying asking prices, i assume because things are cheaper than up north. Very tight market. There is also an explosion of housing developments with tiny houses on tiny lots at least in my price range of 150k to 200k. OK, enough background. I looked at a house one half hour south, still beachy and in demand. It is a rehab house but the bones l and basic floorplan are good, as well as location and lot size. 150 asking price and 30 to 40 grand to rehab. My problem is the house is next to a cul de sac with about 8 duplex units on the cul de sac. Maybe i am wrong but a lot of rental properties that close in proximity are not going to help resale or apprection in value. The road is mostly old mobile homes that have apparently been there since the beginning of time and cause me much less anxiety than the rentals. How do i even start to come up with an offer that won't have me upside down in two years? Note: i think all housing here is overpriced seeing a 10 percent increase in the last 18 months and i am bearish on the economy for the immediate to short term future. Also I need to move out my place now and rentals are extremely expensive with pets. Sorry so long. Thanks. EDIT: i must have phrased the question wrong. I need help with valuation. Not my life choices. Upvotes for the construtive comments. I worked hard for my money and don't intend to give it away for any real estate. For those that don't understand yet, a house can be bought with cash. I might be here in 15 years but it is doubtful. [link] [comments]  |
| Already closed..still waiting on funding? Posted: 01 Jul 2018 05:33 PM PDT I and the house I closed on am in TX, seller is out of state in CA, lender is in MO. All different time zones. We closed on Friday, seller digitally signed everything same day. Lender is stating funding won't occur until Tuesday. Any guess as to why (besides the weekend)? I was hoping to get keys to start moving but can't until funding. [link] [comments]  |
| Jack N Jill or Loft? Resale Value! Posted: 01 Jul 2018 01:23 PM PDT Hello I am planning to buy a 5 bedroom 3.5 bath house and am confused on which of the options to pick from from a resale point of view in the future:
I am confused on which option will yield me better resale price in the future. [link] [comments]  |
| Question about a 1031 Like Kind Exchange Posted: 01 Jul 2018 04:06 PM PDT This might be more of a tax question, but here goes: My grandmother is clinging onto two shore properties in the Jersey shore. She rents put one of them and lives in the other one in the summer (going back to Florida in the winter). She bought these homes for about $30k each originally. It's starting to get to be a lot for her to maintain, but she was hoping to leave these homes to her kids in her will and avoid the capital gains tax. I suggested that she do a like kind exchange. Would she be able sell the rental property and use those proceeds towards knocking down and building a new house on her other shore house to avoid paying the tax? Thanks! [link] [comments]  |
| Posted: 01 Jul 2018 04:14 AM PDT We listed our home for sale on Friday and got our first offer late last night. Yay! It was close to what I was expecting - full asking, FHA buyer, requesting $4500 towards closing. My issue is I know the house needs new siding the existing siding is rotting and there is some water intrusion. I'm fine with covering closing costs, but I'm not going to be cover the cost of new siding on top of this. We listed in the property disclosure that there is water intrusion and we have received quotes from two companies that new vinyl siding would remedy the issue. Any inspector should be able to easily see the rotting siding and it should be visible to any person who looks at the house. Should we just accept and deal with any inspection requests when they happen? Do we have our realtor communicate this somehow in advance? The interior of the house has been remodeled completely. We haven't upgraded the mechanicals, but they are all in great working order. This should be the only thing we get "dinged" on in an inspection, I could be wrong. Our house isn't worth a lot (neighborhood driven) so I'm reluctant to give a lot off the price. Location: Cleveland, Ohio [link] [comments]  |
| Turn Key property in Decatur, Georgia (Missed opportunity?) Posted: 01 Jul 2018 07:48 AM PDT A coworker of mine mentioned a house his parents are flipping. We've talked about it for months and I finally got to see the house yesterday. They are asking 180, 000. It's 1,010 sqft 3 bedroom, 2 bath with major renovations being done. They've completely gutted it. New kitchen, bathrooms, floors, roof. The back yard is huge and they removed a few trees from the front yard which opens it up nicely. I've looked up other recently renovated properties in the neighborhood and I think they may be fair with the price. The neighborhood is appreciating pretty quickly and I don't want to miss out. These are my issues so far:
Is it worth it? TLDR: Even if this 180,000 house is a fair price, the shared bathroom and one of the bedrooms are tiny. Think it will affect my cash flow. How important is size when looking at it as a rental property? [link] [comments]  |
| [IN] Getting utilities on to inspect foreclosure Posted: 01 Jul 2018 09:05 AM PDT Hello! First-time poster to this sub AND first-time home-buyer here (aka be gentle because I'm probably stupid). My husband and I are moving due to his job, and we've been looking for a house for a few months now. Our price range is between $60k-$80k, with a hard max budget at $90k, if that matters. The trouble is that, in the little town we're moving to, there is nothing in that range. Even our realtor has said it's just hard to buy there right now. That said, he offered to show us a bank-owned foreclosure. It's in a nice area, meets our criteria (space-wise), nice yard. It's in our price range. We liked it. It's been on the market since February 2018. My husband and I decided maybe we'd like to pursue it, and that's when our realtor dropped that any inspection we'd do on it would be limited because there's no way to get the utilities on. We moved on from it because we aren't about to buy a house that can't be properly inspected. The price on the house has recently dropped by another $4k, though, and we find ourselves talking about it again. Is this true? Is there absolutely no way to get the lights on temporarily for an inspection? I appreciate any input here. I've read other threads about buying foreclosures and found them super helpful, but I didn't see this question addressed anywhere. Thanks so much! [link] [comments]  |
| Premium pricing on new builds? Posted: 01 Jul 2018 08:29 AM PDT First time homebuyer here looking downtown in a relatively competitive market. I've been noticing that freeholds and townhomes that were built in the 1990s seem to be reasonably priced, while anything that's brand new seems outrageous. Often two or three units jammed together when they really should be one, listed for $100-$150k more than their older neighbours that has a bit more square footage + new roof/furnace/windows. I hoped to get some insight into why these places are listed so high. Is this a 'new build' premium, kind of like buying a new car where you lose some value the second its purchased? Are things built today at higher standards (better heating/cooling, for example)? Is that the price to pay for the 7 year warranty from the builder? Or is this supply and demand, and some people want 'brand new' which is hard to come by in the downtown core. Most importantly - are these newer units bad from an investment point of view if selling in the next ~5-7 years? [link] [comments]  |
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