Agent Didn’t Cancel Contract, Now What? Real Estate |
- Agent Didn’t Cancel Contract, Now What?
- What to do about a driveway encroachment on a vacant lot that the owner wants to put on the market?
- Need Advice on Purchasing a House
- Selling home - is it worth it to upgrade appliances to stainless steel to attract more buyers?
- Question about tax situation - Selling house of 30 years in SF Bay Area
- New finance companies offering cash upfront, no payment, for a % equity ownership for when you sell
- Land Trust Company Recommendations (IL)
- What are your thoughts with using EXP Realty as a seller in San Diego???
- Help me understand mortgage.
- Closing Disclosure significantly different than my Loan Estimate.
- Need feedback on a rental investment. How did I do?
- [UT, USA] I'm on the HOA board. Can I use this experience to deny a rental applicant?
- Debating House Post Inspection and No credit to be given.
- Home sale help!
- Remax contract questions
- I have a offer on my house but it's a FHA buyer. I need to get my house ready for fha inspection. Anyone know what they will look for?
- Would the Price of Mobile Homes Be Expected to Increase If SFH Prices Decline Rapidly?
- House being purchased for me, a good idea?
- 1br condo, sell or hold
- Title company asking me for a copy of my Owner’s Title Insurance policy 3 years after refinance.
- [UT, USA] Buyers asking for pest removal after living there for a year (bats).
- Does NFIP's flood insurance actually provide good coverage?
- How does one advertise as a real estate agent?
- Bridge loan v. Home equity loan
| Agent Didn’t Cancel Contract, Now What? Posted: 01 Aug 2018 11:58 AM PDT After signing a purchase agreement, I got an inspection done on the home. The inspection came back with a few red flags, enough to make me want out of my contract. I let my agent know that I wanted out after getting the inspection results and he said he would take care of it. He also said that he would take care of getting my earnest deposit back and we could continue our search. All of this took place within the inspection contingency window of the contract. Fast forward about 10 days. We are now outside of the window, but I haven't heard from my agent in a while. He calls and says that the buyer is threatening to sue and I am still under contract on the house because I did not give written cancellation during my inspection contingency window. I have texts with dates of me telling him that I want out. Now he is saying I am going to be out of my deposit and maybe worse. He is saying I can still go through and just sell it, but that seems crazy to me. What are my options? What am I on the hook for? I feel like I was misled by my agent horribly, but am not sure what I can do now. [link] [comments]  |
| What to do about a driveway encroachment on a vacant lot that the owner wants to put on the market? Posted: 01 Aug 2018 04:53 PM PDT NE Ohio The lot in question --> https://imgur.com/a/5A25jYE I am listing this vacant residential lot, it's just barely big enough to be able to build on. The lot used to belong to the neighboring property, but the current owner of the lot kept it to possibly build on in the future. They decided not to build and to sell it, but the problem is that there is a driveway turn-around encroaching on the property on the South side. (see link above) I approached the neighbors about buying the lot, but they aren't interested. So my question is how do I deal with this encroachment? If potential buyers wanted to build, this encroachment could be a problem. Any ideas? Is this lot marketable to anyone besides the neighbors? [link] [comments]  |
| Need Advice on Purchasing a House Posted: 01 Aug 2018 07:21 PM PDT Hoping to get some advice and different perspective outside of my family and friends. My brother is selling his house, and offered to sell it to me at $1M. It's 3 bedrooms (it was 4 br, but they removed one of the walls to make a bigger room), 2 bathroom place, and about a 1600 sq ft. I've checked comps and other places in the San Jose/Berryessa area (in California) and the price is pretty reasonable for the area. Some of the things that will need to be fixed:
Other info:
It's definitely not my dream house, but at the same time I'm worried that I will get priced out of the market and will have to look outside the Bay Area. My vision is to eventually use the house as down payment for that dream house 10-12 years down the line OR even try to keep the house and use as a rental property while i continue to save. What do you guys think? Happy to provide any other info that could help with feedback. Thank you in advance!!! [link] [comments]  |
| Selling home - is it worth it to upgrade appliances to stainless steel to attract more buyers? Posted: 01 Aug 2018 03:53 PM PDT I'm in an area in Michigan where homes are flying off the market right now and I want mine to sell quickly and as high as possible. My kitchen is updated but has white appliances. Is it worth it to switch them out to attract buyers? Thanks! [link] [comments]  |
| Question about tax situation - Selling house of 30 years in SF Bay Area Posted: 01 Aug 2018 09:56 PM PDT So my parents have owned their home since the 1980s (in San Francisco). They bought the place for $380k and it's currently worth around $4 million. The did $400k in renovations back in the late 90s. They've lived in the house their entire lives and are looking to sell. Is there any way they can avoid taxes through a 1031 exchange if they started to rent it out? Can they rent the house out for a period of time and then sell it and roll the proceeds over to another rental property? The house is essentially their retirement and it's not right that the gain is treated as taxable income...in my opinion, it should be subject to long-term capital gains tax (unfortunately it's not). If you were in their shoes, what would you do? [link] [comments]  |
| New finance companies offering cash upfront, no payment, for a % equity ownership for when you sell Posted: 01 Aug 2018 12:35 PM PDT Hi all, I keep seeing these companies that offer you money upfront for a % ownership stake in your house when you sell. I ran some numbers and over a 10 year period, it comes out to about a 6-8% interest rate. I really want to like this idea. What are others opinions about this? Example: I saw an offer of $89,000 for 11.5% ownership of a home worth $1.15 million. No payments, and you must either sell the house or pay it back at the 10 year mark. [link] [comments]  |
| Land Trust Company Recommendations (IL) Posted: 01 Aug 2018 01:57 PM PDT Interested in recommendations from folks who have created a land trust for real estate holdings in Illinois. Have ruled out Chicago Title Land Trust Company based on their reviews. [link] [comments]  |
| What are your thoughts with using EXP Realty as a seller in San Diego??? Posted: 01 Aug 2018 10:31 PM PDT |
| Posted: 01 Aug 2018 10:14 PM PDT Just a quick question with regards to mortgage. I was wondering if someone familiar with the subject could help me out. Say I need to buy a house. I went to the bank and got a 4% fix rate 30 years mortgage. The house cost $100,000. Went through with the house buying process. Bank pays $100,000 for the property to the previous owner. On the 2nd day of owning this home, if I want to pay off the entire loan, how much money do I need to pay the bank? $100,000 or something more than $100,000? If the payment is something more than $100,000, what would that number be? Thanks. [link] [comments]  |
| Closing Disclosure significantly different than my Loan Estimate. Posted: 01 Aug 2018 05:53 PM PDT Richmond VA. So my estimated total monthly payment is about $150 higher per month on my CD than on my Loan Estimate. And the cash to close is about 2 grand higher on my CD than LE. Is this by any means normal!?!? [link] [comments]  |
| Need feedback on a rental investment. How did I do? Posted: 01 Aug 2018 12:34 PM PDT I bought a triplex in the sf bay area about an year ago, my first investment realestate. The numbers are as below: Price: 800,000 Mortgage: 34656 Cashflow: 11500 ~= 5.75% Would you consider such an investment? Is this what is to be generally expected these days? Any rules of thumb you use to guide your investments? Thank you! [link] [comments]  |
| [UT, USA] I'm on the HOA board. Can I use this experience to deny a rental applicant? Posted: 01 Aug 2018 08:03 PM PDT I own condos in an HOA and am on the governing board. A potential tenant who already lives in the HOA applied for my unit and I know from his past dealings with the board that he would be a terrible tenant and I don't want him. Would this be legal discrimination? Technically, his dealings with the board are confidential so I'm not sure the ethics here. [link] [comments]  |
| Debating House Post Inspection and No credit to be given. Posted: 01 Aug 2018 07:48 PM PDT First want to say how helpful and powerful everyone's input has been to our home buying process. Reddit again saves the day!!! Location: RI (outside PVD) Sq Ft: 800 Price offer: 185k So, this is our second go around with putting an offer, getting a P & S signed, going through inspection and ... not getting credit for fixes (we requested 2-3 major on first house only). This house was on the market for 70 days listed at 200k. I knew it was overpriced for the area because it is only 800 sq. ft and has a kitchenette; small sink, no dishwasher, no space for fridge, tiny counter and no utensils drawer. Also, no washer or dryer. I offered 180k, they got us up to 185k. Inspection was good except... a huge tree that is rotted out at the base. A toddler could easily walk into the tree for size comparison. It is right on the fence to neighbors in between the houses which are about 20 ft apart. It is a huge risk of falling during a windy fall storm here in New England. Both estimates were 3,500 which seem reasonably priced considering how carefully the works needs to be done and the tree is easily 60-75 ft tall. It would crush the whole width of the house if it fell! The owner has no money to help us remove it. I'm not even sure it will be insurable unless it is remedied before hand. He was only able to offer the washer dryer and furniture in the house. He has a tiny table, four chairs, love seat , two dressers and a tiny desk. They are the new LG washer and dryer that look futuristic (the sell new for $750 each) What should we do? We don't have 3,500, especially because I don't see how this would add value to our house. I would rather pay down the premium if we had that money. Please Reddit, we are so confused! Any and all help/ suggestions are appreciated. [link] [comments]  |
| Posted: 01 Aug 2018 07:08 PM PDT I'm in an informal 50/50 agreement on a property with a family member. Current mortgage is in my name. I'm looking to sell to said family member and cash out my half of the equity while the family member purchases the property from me and below market value. Can anyone give me some advice on this please? [link] [comments]  |
| Posted: 01 Aug 2018 09:24 AM PDT Location:TN Currently renting and the landlord has decided to sell the property. Remax agent has started showing the house and is being very pushy and rude when requesting showings. My landlord has tried to end the contract with them but they are saying he signed it so he cant back out now? Also saying only a 24 hour notice is needed for showings and requirement of a lockbox on the door were also in the contract. My landlord is elderly and I'm worried she's pushing him into something he doesn't want to do. I guess my question is, would this be in the contract? Can he change it after he signs it? [link] [comments]  |
| Posted: 01 Aug 2018 01:07 PM PDT |
| Would the Price of Mobile Homes Be Expected to Increase If SFH Prices Decline Rapidly? Posted: 01 Aug 2018 12:44 PM PDT I'm looking into dipping my toes into real estate investing for the first time, and I don't want to risk too much cash. I also live in the expensive area of Los Angeles and want my first acquisition to be nearby. So, I was considering purchasing a decent quality mobile home in a B neighborhood, and I was wondering how the price would be affected if by chance the market turned downward within a few years. Would low-cost housing increase in price as standard- and high-cost homes decline in value? Is a mobile home in a B neighborhood an advisable option for a first investment? [link] [comments]  |
| House being purchased for me, a good idea? Posted: 01 Aug 2018 06:37 PM PDT Hi, I have been made an offer that SEEMS too good to be true, my parents have decided randomly that they want to buy me a house abroad (I am in the UK). Knowing very little about real estate, is this a good idea? It will obviously be in my name, however just paid for by them. Anything i should look out for? [link] [comments]  |
| Posted: 01 Aug 2018 05:22 PM PDT Purchased a 1 bedroom condo in November of 2016. Seller was very motivated so I paid well below market value. I have since made minor improvements, new interior doors, upgraded outlets and wall switches, all new paint and trim. All work was done myself. A few of the units have been selling at high prices which has raised the value of mine. My question is should I put it on the market now or wait it out and see if the prices continue to increase? here are the numbers I paid 102,500 with a 10k downpayment current amount owed is 89,000 Its looking like I may be able to sell for 135,000-145,000 That is not a bad return for a year and half. Should I take the money and run or hang on to it? I should also mention I am currently living in it. Also, at the height of the market, my unit sold for 186,000 [link] [comments]  |
| Title company asking me for a copy of my Owner’s Title Insurance policy 3 years after refinance. Posted: 01 Aug 2018 08:33 AM PDT I'm not sure if this belongs here, or r/legaladvice, or somewhere else. I apologize if this isn't the right place. I just got an email from someone who works for the title company that was used during a refinance I did in 2015. She got the name of the mortgage company I refinanced with wrong, which makes me kind of suspicious. Surely they have records of such things, how else did she get my name and contact info? I did some googling and the mortgage company I used has never operated under the name she used, they aren't even similar. My mortgage has been sold a few times since then, and none of the companies who have ever held my mortgage have used that name. She's asking me to send her a copy of my owner's title insurance policy from when I originally purchased the home in 2014. Again, shouldn't they have a record of that? If they somehow lost it, do I have any kind of real obligation to send it to her, or any reason why I should? She hasn't explained why she needs it now, but I'm of course panicking that there's some kind of problem with my title that has just been discovered. Am I being overly paranoid? Should I just send it to her? Should I ask this question somewhere else? In case it matters, I live in Florida. Thanks in advance for any feedback. UPDATE: I responded to her email with a query about why this is needed now. She responded back with this:
I still plan to call the title company tomorrow, using a number I have for them from old emails when I was going through the refinance process. I'll verify that this person actually works there and actually needs it, and then I'll probably send it if I'm satisfied with their answers. Thanks for all the advice! [link] [comments]  |
| [UT, USA] Buyers asking for pest removal after living there for a year (bats). Posted: 01 Aug 2018 04:39 PM PDT A year after my grandpa sold his house, the buyers suddenly have an attorney and demand $75,000 for removal of bats in the roof. The house sold for $155,000 and passed a professional home inspection ordered by the buyer and we paid for a 1-year warranty as part of the sale. Buyer believes they have grounds because we said on the standard paperwork that "we are not aware of any pests". I think this is pretty ridiculous and will go nowhere, but what should I be researching just in case? [link] [comments]  |
| Does NFIP's flood insurance actually provide good coverage? Posted: 01 Aug 2018 04:28 PM PDT House nearly flooded the other day even though I'm not in a flood zone. Figured it would be wise to pick up flood insurance at $500/yr. Better than nothing. My question is whether the policies are good? Will they try to back out of any coverage or are they generally pretty good about everything? [link] [comments]  |
| How does one advertise as a real estate agent? Posted: 01 Aug 2018 12:39 PM PDT I have a relative that is a real estate agent. Should the person make a website (if so, on wix/weebly or through web hosting like bluehost wordpress?)? Should the person have a facebook business page? If so, how would build traffic. She started working her personal connections but what are other options? I'm interested to hear what you guys think or have done. I'm referring to the Massachusetts area. [link] [comments]  |
| Bridge loan v. Home equity loan Posted: 01 Aug 2018 10:20 AM PDT I have accepted a job out of state. I currently live in Tn and will be moving to Mo. We currently own our home outright with an appraisal value of over $200,000. We have found a home in Mo that we want ($249,000). We want to move before selling our current home primarily due to a time factor and our desire to do a few improvements to make our current home more attractive. We want to put a very large down payment on the new house ($80,000 to $100,000).We bank with a small rural bank and a large bank. The rural bank can't do a bridge loan due to the distance involved. We have not yet spoken to our larger bank (1st Tennessee) but suspect the rules might be the same. We were wondering if it might not be best to take out a home equity loan anyway. We haven't been in the real estate market in 20 years and need some advice.....thanks! [link] [comments]  |
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