Seller did not disclose flooding basement issue. What counts as evidence enough for me to sue? Real Estate |
- Seller did not disclose flooding basement issue. What counts as evidence enough for me to sue?
- [TN] House market moving too fast in my area.
- Property Management recommendation (CO)
- Can’t move. Buyer won’t reschedule closing.
- How can I search up lots of land? (CA)
- Tales from a cursed listing and dim-witted seller.
- Buying a house with a prepaid solar lease?
- How many houses do realtors generally show someone in a day?
- I pay taxes on land not in my deed
- Too many balls in the air! How to prioritize? [FL]
- Listing Agent commission split
- Best way to handle a multiple offer scenario for a house as a potential BUYER?
- 4 plex in a hot neighborhood.
- Does it matter what realtor I choose?
- Is this an effective strategy?
- What should you do if your house has been on Zillow too long?
- Realtor Tip to Buying or Renting.
- (GA) Pest question on under contract house.
- NY Undisclosed Defect Question
- A little help. Please
- Referral Question
- HOA Increase
- Converting two properties into a more expensive primary residence
- Can you gleen any interesting information from a particular house sales history? I'm considering a renovation.
- How to buy a house without a real estate agent or a bank?
| Seller did not disclose flooding basement issue. What counts as evidence enough for me to sue? Posted: 02 Aug 2018 08:01 AM PDT We bought this house that was just out of our reach and are now dealing with a flooding basement issue. The owner knew about it, says two of the neighbors, who felt that he should not have sold the house knowing about the flooding. It looks like it might be shaping up to be a 15 or 20k job to fix it... essentially we will have to liquidate some retirement. At some point, we might have to have a discussion about moving, but now WE have to disclose the flooding issue and probably won't get what we gave for the house. Plus, moving expenses. The rest of the house is pretty decent, just ordinary wear and tear, i think. But this shit with the flooding is a huge problem. We essentially can never leave the house for more than a day until it's fixed. Supposedly an upstanding christian member of the community, they all say. Thanks, guy. Anyway, what kind of evidence do we need to sue him? How does that work? Are there any issues with suing we should know about? We are both middle class and stupid about courts and houses and whatever. We were stupid enough to buy this one. Any help is appreciated. We're in Illinois. [link] [comments]  |
| [TN] House market moving too fast in my area. Posted: 02 Aug 2018 10:28 PM PDT My wife and I are trying to get out of renting and buy our first damn home in Murfreesboro, TN. We've got decentish cash saved up for down payment and closing costs. We even got ourselves pre-approved for an FHA loan at 4.5% and a go get 'em agent doing the best he can (our LO and agent are fantastic, for real). We started this process a couple of weeks ago; in that time we've tried to look at 4 houses in our price range; 3 went under contract before we could even do a drive-by looksie and one was this 70 year old, 760sq/ft two-room box in the hood selling for like 60k higher than it's appraisal. We actually decided to make an offer on it, despite it being tiny, despite it meaning a lifestyle change because of the high monthly cost. We woke up real early this morning, met with our agent and made an offer for 5k less than the ask (trying to save some of our money to finish the basement in it as a 3rd room). I even wrote a letter about how we're really trying to keep our daughter in her school and avoid a long work commute. Offered to pay closing costs and everything. [link] [comments]  |
| Property Management recommendation (CO) Posted: 02 Aug 2018 08:44 PM PDT I'm looking to rent out an investment home (it's paid off) and would like to meet with a reputable and reliable property management company to talk about how the whole process works. Ideally, I'd like someone to be able to answer questions such as , do I need to hire an inspector to check for any major issues with the home or would a property management company provide their own? Does the PM make suggestions on what items around the house need upgrade to increase monthly rent return? [link] [comments]  |
| Can’t move. Buyer won’t reschedule closing. Posted: 02 Aug 2018 08:06 PM PDT There is sudden, unscheduled construction happening on our street and there is suddenly nowhere to park a moving van within a reasonable distance. Construction will be happening through the weekend, when we are scheduled to move. Closing is Monday and buyers want us out and don't want to reschedule even though they're moving in later. What can we do? At a loss. We live in a condo building in Chicago. [link] [comments]  |
| How can I search up lots of land? (CA) Posted: 03 Aug 2018 01:59 AM PDT Having a hard time looking up "lots" of land/property. For example, if the following is for sale, how do I get a visual map of this location? Roll 1435-229-040-13610 Part Lot 6 Concession 7 Percy Part 10, RDCO41; T/W CL81710; Trent Hills, County of Northumberland PIN 51220-0159 LT Another location example: PLAN 1106 LOT 120 TO LOT; 121 PT BLK A Registration PIN #: 01339-0513 (LT) Roll# 3739-070-050-03700-0000 Is there a database I can search or a map that will show this location? [link] [comments]  |
| Tales from a cursed listing and dim-witted seller. Posted: 02 Aug 2018 07:57 AM PDT [KY - Broker] Obviously, much has been altered and changed (State, ages, prices, property specifications) to protect anonymity. So I pick up this 30+ acre listing in February. It's a small split level house in the middle of the acreage, an 8 car garage, smaller barn, hot tub and an outdoor riding ring for horses. It was listed 2 years back to back before and didn't sell. A big issue for a previous buyer is a surface lease on the far corner that is owned by a utility. It's a sell-able house, no doubt. The seller is a middle aged women from way out in economically depressed and opiod epidemic ravaged rural country from across the state line. She never had a pot to piss in and from what she tells me, her family is comprised of roving gypsy rednecks that earn money by fixing small engines and such. Poor health and illness run through the blood line, I'm sure made worse by harmful health habits like staying up till 2AM at the bars, alcoholism and smoking. The house was originally bought 25 years ago by her deceased husband that she was married to for 5 years. He passed 3 years ago. The seller met this guy online, they started dating and married soon after. She moved in with him and then he passed leaving her a $400,000+ house and land, garage with all kinds of tractors, tools and vehicles. I list the house and reduce it twice in price in order to get a buyer. I get two offers but they back out due to the surface right easement that the utility company has. I reduce it again and my commission just to get this sold and help this lady out. She is selling and moving south because her health is terrible. She can barely get around in the northern climate. She says she won't live much longer if she doesn't move! It's all she talks about for months, moving, for her health, so she can live. She literally spend weeks worth of time telling me about how she must move south to function and for her health. She can't move, vacuum, take care of the place... She wants to roll all the money from this house into an equally priced house in the southern area. The exact amount, she won't buy anything less the the exact amount that she suspects she'll net from this house. In the southern state, this would buy a 3,000 SQFT house with 10+ acres. How TF are you going to take care of it, why do you need to spend all that money on a new house? You could buy a $100,000 house and have 250k to live on? These are all the questions I have running through my head. Like, she never had a thing, now she has the potential to have $300k+ and she has this opinion that she must net to a specific dollar amount in order to buy an equal house, and her health is terrible. She can't vacuum this $1,200 SQFT cape cod! She's alone, no one with her. So we get a third offer, we negotiate and it comes to inspections. Of course the inspections are bad but the buyer only wants $5k knocked off the $389K list price! This is great! The lady can sell and move so she won't die! I call her and relay the buyers request. She says she wants to think about it, I'm thinking, WTF did you just say... you want to think about this!?!?!? She takes 28 hours to think about it! I call her finally and ask what's up, she say's she won't budge. I'm like, okay, let me ask you one question, if this buyer terminates this $389k deal over $5k, would you be cool with that? She says yes, that she'll just stay, with the market trending downwards. Buyer terminates right away. I call her and she literally breaks out in tears. Fucking retard. I'm quickly and chillingly reminded of how stupidity can destroy us all and I feel nothing but pity for her dumb-ass. Never had a pot to piss in and now thinks she's entitled to $389k. Money has come to own this woman, she is completely controlled and obsessed with it, even though she spent 42 years without it. [link] [comments]  |
| Buying a house with a prepaid solar lease? Posted: 02 Aug 2018 02:38 PM PDT Hello, I have been house hunting in Arizona for a couple months and recently found a house that I am considering putting an offer in on, though it has prepaid leased solar panels through Sunrun. While searching online and on Reddit, I have found it almost universally claimed that buying a house with leased solar is a bad idea. Does this statement still hold true in instances where the lease has been prepaid? Looking over the lease contract, the lease goes until February 2034 and there is no cost associated with having Sunrun removed the panels once the lease period is up. The contract states that Sunrun is responsible for insurance, maintenance on the panels and replacements for the inverter free of charge. Furthermore, there is a performance guarantee on the panels to produce a certain amount of electricity. The document also states that the monthly payments associated with this lease are none and that the total amount paid by the end if the lease is $17,998, which is identical to the amount that was paid at the beginning of the lease by the original owner. The lease agreement shows the average monthly electricity bill for the house in 2017 as $22 a month, this includes electricity costs for an in-ground pool and heated spa. The solar system estimates that it will produce 13,692 kWhs which will cover 96% of the electricity costs for the home. I know this estimate is for the previous owner and mine would likely be different. I would suspect that my energy usage would go up from the previous owner. In the future if I sell the house before the lease expires, I will have the option of transferring the lease to the new home owner or purchasing the system outright. What does everyone feel about purchasing a house with a solar panel lease when the lease has been prepaid? What should I look out for while looking through the contract? What are the risks I face if I take over this prepaid lease? Lastly, does anyone here use Sunrun for their solar panel leases and can anyone provide any input about how they are as a company? Reading online, it looks like a lot of people dislike them, though I have suspicions that a lot of it has to do with clients who are unhappy are more likely to be the ones to leave reviews. Thank you all for the help! TL:DR - Should I be worried purchasing a house with a prepaid solar lease and what should I look out for in the lease contract? What risks would I face if I take over a prepaid solar lease? [link] [comments]  |
| How many houses do realtors generally show someone in a day? Posted: 03 Aug 2018 12:40 AM PDT California. My realtor keeps saying she'll show me a bunch of houses and then the day comes and she says I've decided this is the right place for you and only arranges for one. Which of course is so wrong. [link] [comments]  |
| I pay taxes on land not in my deed Posted: 02 Aug 2018 06:48 PM PDT Two years ago I bought a house and just recently I've realized my name is on a plot of land that borders mine. I've been paying taxes on this land but it is not on my deed. What course of action can I take? Do I have any rights to it? Edit: I live in Massachusetts [link] [comments]  |
| Too many balls in the air! How to prioritize? [FL] Posted: 02 Aug 2018 10:22 PM PDT Where to begin... I own two houses. One is a primary residence, and a rental property I've had for 18 years about two hours away. Because of the distance, I've had a management company looking after it. I almost sold it at its last vacancy, knowing the next step was coming but decided to roll the dice again. Lease was signed in September. Wife and I put an offer in on new construction and that will be ready in December. I want to sell the rental, but the tenants are not feeling it. It will be "stressful" and they didn't think I'd sell. I offered for them to buy it two months ago, and they like that idea, but can't get me a pre approval letter for the contract. I need to sell for down payment money. If the tenant doesn't leave, eviction is a 60 day battle or something and leaves me in the middle of December without much time to prep or close. I'd love to keep our current primary because it is 10 minutes away, and Bought at the right time and have tons of equity in a great area. I dont think I'd need a management company due to the proximity. We could make an extra 500 after the mortgage and be okay. Selling it would be a begrudged quick fix. I'd eventually sell the other one and put both equities in the new house to lower payments. I think my perfect scenario, the tenants buy the house and don't string me along with oh, I just need 3 more months to get the money. I haven't had to push someone out of their home. I'm sure it is stressful! This whole mess could have been avoided if I stuck to the plan and not purchased ahead of time. But it's the house we want, in the neighborhood we wanted, on the nicest corner lot. It's perfect except for the timing. I'm venting. But has anyone handled something like this before? TLDR: Made a large commitment to New Construction before I lined up how to get equity for it. But I have options. [link] [comments]  |
| Listing Agent commission split Posted: 02 Aug 2018 05:36 AM PDT I recently listed my house with a real estate agent and friend. After signing the listing agreement (with little investigation) I've come to find he reduced the total commission to 5%, but is only offering the outside agent 2%. An MLS search indicates this is the lowest commission in my zip code, and I'm concerned it will hurt my chances of finding a buyer quickly. Should I ask him to increase the commission to 6% so there's an even split, or is it not a big deal? [link] [comments]  |
| Best way to handle a multiple offer scenario for a house as a potential BUYER? Posted: 02 Aug 2018 09:10 PM PDT Hey fellow home-buyers and helpful realtors! I'm trying to get a feel of people's opinions on a certain situation where a house is holding out for a multiple offer scenario. tl;dr: Hot home in an extremely competitive market. Priced low to sell, but selling realtor says owners will review and make decision on all offers on Wednesday. I wanted to submit an offer tomorrow, but my realtor suggested Tuesday, or at earliest Sunday. I don't know if I agree. Some specifics: There's a home in an amazing neighborhood owned by an older couple who have bought a place out of state and are moving away to retire. They've lived in the house for 30 years. Well maintained and absolutely livable, but very dated. The house is priced low for the neighborhood to get it to sell fast (according to the listing). Obviously, in the extremely competitive housing market that I'm in (southern california), the house is really hot right now. The realtor held their first open house today and are holding two more on Sat and Sun. They stated that they plan to review all offers by Wednesday next week and make a decision then, but they will still be providing the offers to the owners as they come in. Selling realtor said he expects the offers to come in up to 30k-40k over asking. My realtor is telling me we should hold out until Tuesday to submit our offer. She's concerned that if we submit something too soon, we will weaken our chances. She warned that the realtor may use the offer (which will be above asking) as an example of the "new" baseline when talking to potential buyers about it at the open house. Not going so far as telling them the specific number (though she said if the realtor was unethical, they might), but still saying "we've got an offer significantly above asking". The selling realtor had strongly encouraged a "love" letter to personalize the offer as the couple are interested in selling to someone who will care for the home, not just the highest bidder. I'm concerned that since the realtor is showing the offers to the couple as they get them, we might miss our chance by waiting too long and the owners will decide based on a specific offer made ahead of us. I had wanted to put in an offer tomorrow, but my realtor's advice worried me and now I don't know. My wife and I have both broken the cardinal rule and fallen in love with the neighborhood and home. It needs work, for sure, but we likely won't be able to get into the neighborhood anywhere else with a refurbished/refreshed home. We'll get over losing the house if they accept another offer, that's life. But we will be a bit chuffed if we miss our opportunity purely because we waited too long. Those with experience, would you have any advice on how to handle this sort of situation with a low-priced house and a multiple offer type situation? Would you go in first and bid high while asking them to not wait until Wednesday (ie: making offer valid for only a few days)? Maybe reach out to the selling realtor to ask if the couple would be open to accepting an offer before Wednesday? Go in low with a promise to match/exceed best offer (not to exceed $$$)? Go in somewhere in the middle, but submit it tomorrow? Submit it Sunday? Any advice (even anecdotal) is appreciated. This is our first real offer for something not already pending and our first real multi-bid situation. I want to trust my realtor (she's got a lot of experience), but I'm having a hard time agreeing with her tactic when I just want to get something in front of the owners as soon as I can. Some other specifics on the offer: We're looking to go in at 15% down vs. 20%. We want to have a healthy buffer of cash to help pay some items upon move-in (paint, redo-flooring/carpet, etc). We're also willing to pay up to 90k over asking if it came to it. [link] [comments]  |
| Posted: 02 Aug 2018 05:19 PM PDT Edit Location : Baton Rouge, LA USA I have never owned property. The 4-plex I live in is up for sale. The agent is a friend. I have nowhere near 10% of price in cash. My credit isn't great but I have no debt. My brother is interested AND turns out the agent friend is interested in partnership. I still don't have enough. Would FHA be an option for me? Is this even possible? Some general comments from experienced real estate folks would be interesting. [link] [comments]  |
| Does it matter what realtor I choose? Posted: 02 Aug 2018 08:50 PM PDT Too many of them. So I am just reaching out to the ones with a few decades of experience on realtor.com. Any thing a realtor can do to actually screw you over? I mean they aren't car dealers exactly right? [link] [comments]  |
| Is this an effective strategy? Posted: 02 Aug 2018 04:37 PM PDT So I feel like this is a dumb question, I'm kind of lost when it comes to putting in an offer on a house. This will be our first time doing it. My husband and I are being loaned some of the down payment money from my father, so he has wanted to come to open houses and be a part of the process and we've let him. He doesn't want to hire a real estate agent and thinks it will somehow look better in the sellers eyes if we don't have one... We've found a house we like and we're ready to put down an offer (we live in Seattle so it's competitive) and I feel like we are going to be at a disadvantage trying to win the house without an agent helping us out. He thinks that if we put in an offer for full ask (which isn't unheard of around here where most things are going for above ask) that our offer will stand out because without a buyers agent the money in the house price that was supposed to go to our buyers agent will go to the seller instead. Is this true? And if so, is this actually an effective strategy? I know so little about the process that's it hard to argue him correctly on this. Or would we be more likely to get the house if we were in a realtors hands? Thank you! Again, sorry if this is a dumb question. I've been googling and can't seem to find the right answer. [link] [comments]  |
| What should you do if your house has been on Zillow too long? Posted: 02 Aug 2018 01:09 PM PDT So here's the situation; my parents have been trying to sell their house for the last six months. They had initially worked with a realtor who gave them the price to list the house at and put it on the market. Then, well...nothing. Honestly crickets, I think they had a total of like 4 showings in 4 months. During that time they had inched down the price as much as they could afford on three separate occasions. After those 4 months their realtor's contract was up, obviously they weren't happy with the progress, so they got rid of her and brought in a new realtor. The new realtor reworked the numbers and was able to drop the asking price significantly. In her professional opinion it was the price we should have been asking for from the start. So basically the house just sat on the market collecting dust for 4 months in a price margin it was never going to sell for. Now it's been on Zillow for 170 days and has had the price dropped 5 times total. Our realtor thinks that's why we're getting resistance now, people are assuming that something's wrong with it. We're really not sure what else to do. The house has all new carpet, it's freshly painted, and it's being kept spotless. The only downfalls of the house seem to be the size of the backyard (which we can't do anything about) and the appliances could use an upgrade (which we can't afford). Help! My mom has a medical condition that's making going up and down the stairs more and more problematic so absolutely any advice you have would be greatly appreciated! Edit: House info Market: Sahuarita AZ Original asking price: $255k Currently listed for: $224k TL;DR: What do you do when you're house has been a Zillow too long and had the price dropped several times even though there's nothing wrong with it? [link] [comments]  |
| Realtor Tip to Buying or Renting. Posted: 02 Aug 2018 03:00 PM PDT Thoroughly inspect the house you are buying or renting and test EVERYTHING. If you are renting. THOROUGH documentation (pictures) of the property condition before you move anything in. I cant tell you how many tenants confide to me that they did not take pictures or document when they rented the house either by owner or while the house was managed by another company. [link] [comments]  |
| (GA) Pest question on under contract house. Posted: 02 Aug 2018 06:19 PM PDT We are waiting for a pest inspection to be done on the house we are buying. It's brick, and so far none of the other inspectors we've had (home inspector and HVAC Guy) have said they saw anything under the house that we should get checked pest wise. Repairs were also made earlier this year between April and June on some water damaged areas under house and no reports of pests were made then. However, when we were at the house the other day showing it to visiting family, my husband discovered one of the tree stumps in the front yard has termites in it. What kind of effect will that have on the loan process? All the bank is waiting for is the pest inspection report. We made the listing agent aware of the termites in the stump hoping that the sellers will treat and remove the stump, but I'm worried it will hold up the loan even if the house itself is clear. [link] [comments]  |
| NY Undisclosed Defect Question Posted: 02 Aug 2018 02:07 PM PDT We closed on house in March. Had inspections and everything disclosed or discovered was addressed. We live in a rural area and are on a well. We have a pretty substantial filtration system that was already installed when we moved in. It is maintained by Culligan. Last month I filled the bathtub and the water was opaque. I contacted Culligan and they informed me that we were seeing colloidal clay in our system. That this was an intermittent issue and they had informed the prior owners many times they needed to purchase additional equipment to mitigate the issue and that it would break down our equipment if it wasn't addressed. Based on the hometown being informed that this needed to be done and not disclosing the issue to us do we have a claim to make the pay for the upgrade/repair? [link] [comments]  |
| Posted: 02 Aug 2018 05:11 PM PDT I put an offer to buy on a condo. The seller said he could not sell it to me at that price but said if I paid the asking price he would give me 20,000 dollar that I could use for closing cost and down payment. What are the. pros and cons. Thanks in advance. [link] [comments]  |
| Posted: 02 Aug 2018 11:01 AM PDT I feel dumb asking this but I'd rather ask here than to my broker (and I've already asked google, they were no help). I'm newly licensed in Florida. I own a property in another state where I am NOT licensed. I plan to sell that property in state 2 using an agent we have looked at property with previously. Can I (my broker) collect a referral payment for now listing the property with her even though we had a previous relationship? [link] [comments]  |
| Posted: 02 Aug 2018 04:54 PM PDT So I just purchased a place and a few days later I called the HOA. They told me residents knew that HOA was being reevaluated through a "comparable community review"(other condos). As the HOAs are already low, it is almost guaranteed they will go up. Was the seller obligated to disclose this information to me? What happens now, if they were supposed to? In Georgia by the way. [link] [comments]  |
| Converting two properties into a more expensive primary residence Posted: 02 Aug 2018 04:01 PM PDT I own two properties in California. A condo that I've owned for 4+ years that I have rented the past two and a house that I have owned the past two years. I am looking to buy a new house and need the equity from both properties to help pay for my new house. The condo has gone up in value about 150k. The house I currently live in is probably up 25k or so (almost surely wiped out given closing costs, etc.) I have heard the tax laws are generally "like for like" which seems unfortunate for me given the only real return I'd get will be on the rental property and I'll be taxed on it. Any advice for how to best execute selling my two properties for a new house in terms of timing/taxes to maximized my dollars? Thank you [link] [comments]  |
| Posted: 02 Aug 2018 02:20 PM PDT For instance, why would someone buy a house and sell it for half the price a month or so later? Or sell two months later at a 5K loss? Can anyone explain this why a house would be bought and sold like this? Could this be a bad neighborhood, or I dare say POLTERGEIST! 08/25/06 Sold $54,000 +83.1% 06/28/06 Sold $29,500 -13.2% 07/16/01 Sold $41,600 +119% Columbus, Ohio [link] [comments]  |
| How to buy a house without a real estate agent or a bank? Posted: 02 Aug 2018 02:00 PM PDT So I have been saving my whole life to buy a house (42). I don't like loans or debit so I have saved up enough to buy one in cash for my first house. I am renting a house right now and the landlord is willing to sell to me at a great price. Before anyone ask, I have a good credit score and no debit but I'm self employed which banks hate so I want to buy the house in cash and not do a loan and invest somewhere else. My question is how do I go about this? I know the house inside and out and I already have a home inspection. I don't want to pay a real estate agent to sell me a house that I'm already in and know the seller and paying cash. Do I get a lawyer to do paperwork? What paperwork? Do I need to pay the state/city/county? How do I find out? How do I get setup to pay the property taxes? Even if I'm paying in cash is there a way to find out if I can still get some sort of first time home buyer credit? Basically, What do I do when I have the seller already taken care of, cash in hand? I'm in Delaware if that helps. [link] [comments]  |
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