Problem tenant... was evicted but changed locks Real Estate |
- Problem tenant... was evicted but changed locks
- If you are buying a house with a privacy fence that's adjacent to undeveloped/forested land take a peek over to see what the current (or past owners) dumped over.
- To rent or not to rent?
- Lease to own, taken off lease.
- Surprise Two Days Before Closing
- Rental Income Property 200K
- [IL] Landlord wants to sell his condo (that I'm living in) to me, good idea?
- Home built in 1955..what type of HVAC?
- I have a potential job offer as a real estate assistant, I have questions about salary and commission. Help!
- [TX] Can I call the real estate agent who previously represented a property I intend to lease?
- Thoughts on co-living developments?
- Do I have enough reason to cancel my contract?
- Selling a house that needs a lot of work. Leave it or gut it? GA
- [NM] I have 10 acers I dunno what to do with
- Where are the houses??
- Earnest Money and Escrow
- Structuring a long close based on an expected cash purchase
- Loan for a primary residence, but now need to travel for work
- Is this a scam?
- ATX tattooed Realtor
- Can I hold the former owner of my house liable for failing to disclose an issue with my house’s foundation?
- Austin, TX: Should we worry about new owner of our rental?
- The Midwest market heats up
- Cheapest new construction or kit house
| Problem tenant... was evicted but changed locks Posted: 06 Jul 2018 12:28 PM PDT Hi, I have a tenant who was always a problem (Pittsburgh, PA, USA). Late payments every month with a new excuse to boot. In the fall, he stopped paying rent altogether. After many empty promises of paying, I took him to court. We came to an agreement (in court, with a judge and attorney) that he would pay $250 a week until his arrears were paid. Well, a few more weeks went by, and nothing was paid. So we evicted him. I went there last Saturday with the constable to get him out and change the locks.... lo and behold, the evicted tenant changed the lock on me. So the next time I could meet with the constable at the tenant is tomorrow at 9am, and I have to bring a locksmith just in case the tenant doesn't open up. Or we can smash the door in, but I think the locksmith is cheaper. Do I have to give this guy notice that we are coming? Before anyone asks why I gave him so many chances, it's because I feel bad he has kids. I'm a father too, and I have been through rough patches just like he has. One of his kids has had isssues since birth.... but this may be the final straw. I hate to drag a family out, but he has brought me to this. Also, I am a little nervous about the situation. I don't want this guy going crazy and trying to hurt me. Again, a constable will be with me. Thanks for any advice [link] [comments]  |
| Posted: 06 Jul 2018 11:06 AM PDT I have forested land beside my house that has a wood fence border. Yesterday I was clearing a 1 foot zone behind the fence to keep plants and limbs from damaging it. Some of the items I found were part of a charcoal grille, a 2 foot ash pile, a broken chair, pieces of wood lattice, lots of dog toys. Not really major dumping items to worry about, but still annoying because I feel obligated to dispose of them. Just take a look over and see if there are any major dumping concerns you want the seller to take care of before closing. That's even if they are obligated to do so. Out of sight out of mind. [link] [comments]  |
| Posted: 07 Jul 2018 12:12 AM PDT Hi all, so my wife and i decided to upgrade from our current home to a larger home in California. we have enough to put 15% down for the new home but if we were to sell our current home we could easily do the whole 20%. However, the predicament lies in us having to find a place to live for a few months while our new home is being built if we sell our current home. Additionally, if we needed to make small improvements to our current home while renting it out couldn't these be used as a tax write off? For example, the grass in the backyard is dying, there are small holes in the carpet in some places, etc. In your opinion, would it be better to sell now, rent an apt for a few months, and move in with 20% down? OR put 15% down on the new home with an increased interest rate, rent out our current home for a year while making improvements, and then sell before having to pay capital gains since we've lived there 2 out of the last 5 years? Thanks in advance! [link] [comments]  |
| Lease to own, taken off lease. Posted: 06 Jul 2018 08:14 PM PDT So I was on a lease to own contract with my girlfriend, her mother was the lessor/seller. Roughly 30% of the rent went towards down payment on the house. When we moved in we personally refloored the place and did a lot of extra work (replacing every interior door, hinge, lock, etc.).That effort was to be 'reimbursed'. Now I've been taken off the lease because her mom is using it for control. I continue to post my rent on time and be a good enough tenant. In addition she is trying to sell the property to my ex at an extremely low price and using the money I put in to justify a lower figure. My ex cannot get a loan but I can easily. Does she have to list it and give a fair chance to buyers? What recourse do I have? [link] [comments]  |
| Surprise Two Days Before Closing Posted: 07 Jul 2018 03:30 AM PDT My wife and I are in the process of closing on a house. Purchase price is 400000 Two days before closing the seller's attorney when requesting a pay-off letter, discovers an additional second mortgage lien on the property from a HAMP mortgage modification done a few years ago. Basically some sort of balloon payment from a monthly payment reduction processed by the HUD for these people. When asked about it the sellers had no idea about such balloon payments. Our attorney has never seen such situation, and in fact even the title company was a bit confused. Upon more research they discovered that this could have been part of some predatory practices post housing crisis, that caused people to sign and agree to certain terms that they weren't even fully comprehending. Here is some more information on it: http://barristerstitle.com/second-mortgage-lien/ We are currently waiting to see what the actual pay-off amount is, but the title under that section is 50,000. If it is in-fact that full amount plus their first mortgage pay-off, they are upside down on the house. The reason I'm posting is looking for opinions of where that puts us as the buyers. There's a fully executed binding contract. Supposed to close on Monday. [link] [comments]  |
| Posted: 06 Jul 2018 09:02 PM PDT I am looking to diversify my real estate investment and would like to max out the home price at 200k. I would like to make it a rental income property. Any suggestions on where to buy? Thanks in advance. [link] [comments]  |
| [IL] Landlord wants to sell his condo (that I'm living in) to me, good idea? Posted: 06 Jul 2018 10:15 PM PDT My landlord is moving to CA, doesn't want to be a landlord anymore, and wants some cash for his move. I've been a good tenant, and he's offered the place I'm living in to me for purchase; no hard numbers yet, but looks like he's offering it to me for about $15k less than comparable units. Seems like it could be a good deal? I guess I'm not sure how much of that is going to get eaten by fees (no Realtor commission, since it would be a direct sale, but that'd be the only fee skipped). The complicating factor is I was hoping to move out this year into someplace larger (600 sqft isn't quite cutting it anymore). So, I likely wouldn't hold it for long; I just have more flexibility than the current owner does. Cons:
Pros:
I've been slowly trying to learn about real estate and maybe buy something later this year, but I've kind of been thrown in the deep end. Any advice that Reddit would like to share? [link] [comments]  |
| Home built in 1955..what type of HVAC? Posted: 06 Jul 2018 07:21 PM PDT Just purchased a home that has one single big square vent in the hallway that pushes cold air throughout the house. The only other vents in the home are small rectangular vents in the floor of each room. I was told these small vents are strictly for heat and not cold air. Not sure how true that is. Is my only cold air really just from the one big vent? What type of system is this? Texas heat is brutal. [link] [comments]  |
| Posted: 06 Jul 2018 12:04 PM PDT Hey, I have a potential job offer on Monday for a real estate assistant position. We had a two hour interview last week and she wants to meet again!!! She wants to offer me a base salary + commission. I personally haven't worked in real estate before, but I believe I will excel in the role.. she says that an assistant is her most important hire and that I should realistically be able to triple her sales numbers. She's behind because of having to do admin work and needs to hire someone to focus on the bread and butter. With that being said.. I can't find any resources for salary + commission based pay for real estate assistants, I see indeed/Glassdoor has these roles At 35-50k, but with commission...??? I love the idea, and am happy with the type of pay structure but we haven't discussed numbers and percentages. What % of commission from a sale should I be aiming for? Homes she typically sells are in the 500k+ range. A sale currently ~ every 3w. I'm located in northern VA. Thanks Reddit!! Hopefully my job search is over soon. If I should post this in another subreddit, let me know! [link] [comments]  |
| [TX] Can I call the real estate agent who previously represented a property I intend to lease? Posted: 06 Jul 2018 09:07 PM PDT Looking to rent a great home. The rent is premium and it's in overall fantastic shape for its age. I do have a few lingering concerns that I don't believe the current listing agent is fully aware of. Is it acceptable to call the real estate agent who previously rented/managed the property? (different company) [link] [comments]  |
| Thoughts on co-living developments? Posted: 06 Jul 2018 06:17 PM PDT Would love to hear your thoughts either from a guest, investor, or developer perspective. I think there's a lot of opportunity in this space, especially with the recent success of the co-working model and other disruptive real estate startups. [link] [comments]  |
| Do I have enough reason to cancel my contract? Posted: 06 Jul 2018 08:20 AM PDT I had my offer accepted, immediately had buyers remorse for reasons I think are justifiable, and I know my own fault in the first place. I had the inspection and in the back of my head I was hoping there would be something significant enough to back out of the deal. Only minor items came up that were cause for concern and though it's a really old house (built in 1900) the list of issues was short. My question is can I use these small issues and just flat out say it doesn't feel right to break the contract and get my earnest money back??? [link] [comments]  |
| Selling a house that needs a lot of work. Leave it or gut it? GA Posted: 06 Jul 2018 04:54 PM PDT Bought a fixer house. Not intending to flip but fix over time and live in. Damage was a bit more than anticipated. Life plans changed dramatically. I still own another home. Trying to sell it too. I want to sell the fixer home, but I got bogged down in the demo between finding more issues and needing to sell the house I moved from. I'm absolutely flat broke from maintaining two mortgages. And I'm getting very little traction on the other house. I can't afford to fix anything. The fixer house needs a complete gut. Down to the studs on at least the lower level. Then to be put back however somebody wants it. I can't afford to do it in a generic way to make the house quality for a traditional mortgage. All I can possibly do is finish the downstairs gut down to the studs. The kitchen is gutted. Should I finish the demo or just leave it and see what buyers want? [link] [comments]  |
| [NM] I have 10 acers I dunno what to do with Posted: 06 Jul 2018 04:52 PM PDT My wife has 10 acres she inherited outside of Alamogordo, NM. We pay taxes on it every year, but are at a loss of what to do with it. We live in central Texas and already have a rental property in our town. The land is not developed, but there are several manufactured and trailer homes out there, with various degrees of quality. There's already several plots for sale out there, so selling might not be great, but we are certainly open to it. What can we do to generate income without being very hands on, due to it being a 12 hour drive away? [link] [comments]  |
| Posted: 06 Jul 2018 03:45 PM PDT First time buyer in southern Maine here - It seems that inventory of homes in my price range (sub $400k) has all but completely dried up over the past 2-3 weeks. I know that everyone is citing the lack of new construction as the real reason that prices are high, but that doesn't explain why nobody who already owns a house is selling (or so it seems). What gives? Has anyone else encountered the same situation in their markets? [link] [comments]  |
| Posted: 06 Jul 2018 05:17 PM PDT Hello everyone! I am brand new to the real estate community and I am slowly but surely wrapping my head around the intricacies of wholesaling, flipping, and renting. However, I can't seem to find enough information (or at the very least a dumbed down explanation) of earnest money and escrow accounts. My understanding is that if I attempt to put a property under contract, I would need to essentially put down a small fee (varying) in order to show that I am serious. This fee is then given to my attorney and put into escrow (third party account).
Any help would be greatly appreciated! [link] [comments]  |
| Structuring a long close based on an expected cash purchase Posted: 06 Jul 2018 05:12 PM PDT Hi all, We are interested in buying a home on the market and we would like to pay it in cash but we won't have the funds for another 10-12 months. We're selling an investment and expected to have more than enough to buy the house. We wouldn't qualify for a mortgage as it's larger than our current carry. The money will come from selling shares in a startup. They are raising a new round at that time and we will be able to cash out and we already know what valuation they will raise at. We expressed our interest to the realtor and he is open to discussing a long close with some money down. Has anyone had any experience or insights in that type of deal? We love the house and been looking for years to find it. But we also understand that from a seller's perspective, they would much prefer to sell it in a normal way instead of getting some % down now and then have to wait for the rest... What would be a reasonable strategy to make a plan like this work where both parties feel secure? Thanks for any thoughts! Location: BC, Canada [link] [comments]  |
| Loan for a primary residence, but now need to travel for work Posted: 06 Jul 2018 04:55 PM PDT My wife and I just closed on a new home (2 weeks ago). My work has been flexible with remote work and gave me the go ahead to relocate out of state for this months ago, but last night I discovered we are having a re-org and the leadership wants me to come onsite for the next couple months to help establish the new structure. My manager has also suggested that I try to come onsite 2-3 weeks out of the month for the proceeding 2 months till things settle down, and then I can reduce it to 1-2 weeks a month. When we initially applied for our mortgage we were under the expectation that this would be our primary residence and that I would be working from home 3-4 weeks out of the month. I'm worried our lender is going to find us in default because I will need to travel for work and will no longer be at home for most of the month, but my wife will still be living at the home 100% of the time. Can we be found in default or punished? What should I do? :( Here is what our loan states
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| Posted: 06 Jul 2018 12:45 PM PDT I'm a first time homebuyer and a too good to be true listing just popped up on zillow, see below: Great low CASH SALE of $47,000 to a first time buyer only No realtors, no brokers, no third party, no WHOLESALERS, no investors, no agents, no attorneys involvement besides our agent Karen. All particulars will go thru her and her company. If you want the home 10 percent of asking price must be deposited ca sh into our independent esc row account the day you call and say you want the home along with signing of the contractual letter of intent. This is because of the tenants there and that 48 hours notice must be given to them in order for anyone to see the inside. The 10 percent is refundable but is due even if you want to purchase home site unseen. This is for a quick cash deal or owner financing, same price with no interest attached. Tenants there until July 24th, closing due to happen July 25th. They've purchased their own home so they are in the process of leaving now. Call to buy today! Does anyone know if this is a common scam? Or is this the real deal? [link] [comments]  |
| Posted: 06 Jul 2018 12:15 PM PDT Hello! I recently became a Realtor in Austin, TX. I have 9 tattooes, 5 of which are easily visible and a septum piercing. During a conference today, it came across my mind that there is a possibilty that I could be taken less seriously due to my outward appearance. Austin is a very hip and yound city where almost everyone has tattoos. Does anyone have any perspective they can provide to me? Thank you very much in advance. [link] [comments]  |
| Posted: 06 Jul 2018 01:48 PM PDT I purchased a home about two years ago in Wisconsin. It does not have a basement, it has a crawl space (which apparently is rare in this part of the country). The home inspector that I hired to inspect the home before purchase told me he could not give an accurate assessment of the foundation because "if I can't see it, I can't inspect it". Shortly after I moved in, I discovered I did not live alone - I had "friends" living in my crawl space. I've had to hire wildlife control people to remove 4 opossum. I had a handyman dig a trench around the house and install a wire mesh barrier to keep the animals out. I hired a guy about a month ago to do some tuck pointing around the foundation. He removed some of the foundation blocks to take a look inside the crawl space and told me that there were absolutely no foundation blocks in certain parts of the house - they were removed, presumably by the former owner. I talked to my neighbor who told me, yes - the former owner removed the foundation blocks to remove some dead animals (ewww) but they didn't replace them, they just shoveled dirt over those spots. I am no real estate expert or an attorney or anything, but I thought things like foundation issues had to be disclosed prior to the sale of the home? I mean, they literally removed part of the foundation without repairing it. I have another guy coming out this afternoon to take a look, but I'm just wondering if I have any recourse. Can I hold the former home owner liable for failing to disclose this or am I SOL? [link] [comments]  |
| Austin, TX: Should we worry about new owner of our rental? Posted: 06 Jul 2018 03:42 PM PDT So, this may not be the correct sub to post this in, but thought I'd try here first. td;dr: we've bought a new home, but our current landlord sold our current rental with two weeks left on our rental contract, and we're wondering what this means for our security deposit. My wife and I purchased our first home in Austin, TX and we're moving in at the end of this month after some remodeling. It's all very exciting for us, and we're stoked. That said, we're currently in the last month of a rental contract on a 3/2 house we moved into two years ago. It's an older house, but we've kept it very nice while living here. We're clean people. We have a dog who has never once done her business in the house. We've not made any major damages to the property (small nail holes for picture frames in a few walls, a little bit of torn vinyl on the living room floor where the foot of a couch scratched it, etc.), though there were some minor damages before we moved in (cracked tile floors, missing window locks, etc.). Overall, I feel that most of what has occurred while we rented here is normal wear and tear, and thus shouldn't threaten the return of our entire security deposit (which was sizable). Our landlord just told us that the future owner of the house we're renting will be closing on the 16th of July, which is actually two weeks before our lease is up. We're concerned that means the new owner is going to be our landlord, and thus that our security deposit is transferring to them and they will decide how to return it. I'll be honest...we are counting on the return of the most of (if not the entire) security deposit. I wouldn't say we'll be in dire financial trouble if it doesn't get returned (i.e. - we won't lose a car or not be able to pay bills), but it will make things much harder. I'm wondering if anyone here has experienced a similar situation upon buying your first home and the end of your last rental contract? Is this something we should worry about (i.e. can the new owner going to screw us on the deposit). [link] [comments]  |
| Posted: 06 Jul 2018 07:32 AM PDT Not surprising to this Columbus realtor http://www.dispatch.com/entertainmentlife/20180705/columbus-is-nations-second-hottest-housing-market [link] [comments]  |
| Cheapest new construction or kit house Posted: 06 Jul 2018 02:40 PM PDT We wish to build a 1,500-3,000 square foot house on an unimproved plot of land. What is the cheapest way to get a nice home on the plot? The only utility available is electric. No basement to save on costs. Location in PA. Steel home kits appealed to me a lot. I would love to spend under $100,000 for everything (not including land or utilities). What's the best way? [link] [comments]  |
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