[MI] The sellers of our current house were told to remove a pocket door that was previously for their nursery - what’s this about? Real Estate |
- [MI] The sellers of our current house were told to remove a pocket door that was previously for their nursery - what’s this about?
- Buyer agent complained that commission is too low on listing!
- CA-First time buyers, seller cancelled our final inspection at the last minute, COE is in two days. What are our options?
- Advice For Listing Agents
- Listing a house as Pending as a marketing tactic?
- Do I need to be licensed if I buy my own lot of land and build my own home and hire plumber-and-what-not to do the building instead of hiring a construction company? Why or why not a good idea?
- Appraisal Question on Reno Refinance
- Question for real estate investors
- [FL] missing reserve audit report , advice please
- Having friends renting out a room!
- Owning an AirBNB property from a different state - is it feasible?
- Looking for good lawyer in Rochester,NY
- What happens if an owner dies in Tenants in Common?
- [IL] Looking to buy a townhouse // Questions!
- Extreme Home Renovation
- I want to flip houses is section 3 contract selling, I'm not sure how all this works?
- After putting in paid applications for a rental property, the managers are asking on behalf of the landlord if I'm okay with 10 or 18 month lease.
- Finding Data (Sales Price, Sales Date) for a specific area
- Earthquake risks
- Listing and marketing international luxury real estate - need some advice
- Forcing mortgage lender to deny loan to get earnest money deposit back?
- Predict the future of real estate in seattle.
| Posted: 01 Sep 2018 04:02 PM PDT We bought a house with a nice master suite that includes a nursery. It's a small room with a doorway and a window, and since we are currently childless it's an office. We are in the process of repainting and doing some minor fixture changes, and my husband said he'd like to "put the door back up for the nursery." Apparently, the sellers pointed out to him that for the duration of the time they lived there, they had a pocket door for the nursery. When they went to list it for sale they were told to get rid of the door, so they covered the slots with extra trim and left the door for us in case we wanted to put it back. What's the deal with this? Is it that a pocket door causes a problem with code? Or a door at all? Are we going to have to take the door back off when we go to sell it ourselves? [link] [comments]  |
| Buyer agent complained that commission is too low on listing! Posted: 01 Sep 2018 08:11 PM PDT First time home buyer here. Location: NYC (brooklyn/queens) So, I've been working with my agent for about 3 months now. He went to 2 showing with me so far and I mostly prefer to go open house by myself. If I see something I liked I just tell him to make initial contact with buyer agent and submit offer the letter. There is one listing I really like and I asked my agent to submit an offer below asking price hoping to get an counter offer a little below asking price. He seem reluctant to contact the buyer agent and said this house is not a good fit for me and its a waste time time to negotiate with the owner for 1.5% buyer agent commission. He sent me a screenshot of the zillow listing showing buyer agency comp as 1.5 Below that also show Broker agency comp as 1.5 also.... so does that mean he and his broker split 3% 50/50 or split 1.5% among themselves? Seems like agent commission info only show on agent accounts on zillow. I was unable to see any commission info on any other mls listing sites. [link] [comments]  |
| Posted: 02 Sep 2018 12:07 AM PDT So we had our buyers final inspection scheduled for today at 4:00 pm and the seller cancelled at noon via email from his agent. The seller's agent is telling us we can do it Monday or Tuesday. Tuesday is COE. We can't do it either day, what are our options? [link] [comments]  |
| Posted: 01 Sep 2018 10:44 AM PDT This is coming from a buyer specialist who operates primarily on the east coast. I know there's an excitement and eagerness to get the listing into the MLS as soon as possible. You want to get things rolling for your seller and I get it. However Please, please, please, take the time to make sure all of the associated docs and addendum are where they need to be and accessible. I cannot tell you how frustrating it is as a buyer specialist to go to write an offer only to find the property disclosure or something else is missing only to delay the process. Just take a moment and upload everything that's need from the get go! [link] [comments]  |
| Listing a house as Pending as a marketing tactic? Posted: 01 Sep 2018 07:40 AM PDT Do realtors ever change the status of a house to Pending even when it isn't? There has been some curious listing behavior over the last few days with a couple of houses that have been sitting (for months) in my neighborhood. Some of the timing for one of the homes becoming available again seems a little too convenient. There has also been some weird delisting activity with the other one mixed in. Both of the homes are overpriced and the owners seem reluctant to come down to a reasonable level (otherwise we would offer on one of them). I am just wondering if a realtor might ever play around with the Pending status to generate more alerts as a marketing tactic. [link] [comments]  |
| Posted: 01 Sep 2018 01:15 PM PDT My intention is learning the process and saving money. San Jose, CA [link] [comments]  |
| Appraisal Question on Reno Refinance Posted: 01 Sep 2018 10:09 PM PDT We are in the process of considering refinancing to finish some renovations on our home. We have an existing loan with 80k left and current estimate of house is between 120-140k. However, there's a few questions we have about the appraisal and how it works. Anyone who works in the business that could offer some insight would be awesome! First thing, is the appraisal in any way similar to an inspection? The first loan offers we looked at are FHA which I know has stricter standards, but I don't know what the appraiser will do or say if there are things still needed in the home. The biggest one right now is a deck - we don't have one on yet, but we do have French doors leading to a place where a deck will eventually be. Will this lead to the appraiser rejecting the home or there loan being denied? Obviously the other option is to pay for it outright but it could take time to save up so if we could just refi and pay for that along with other renovations that would be helpful. There are a few electrical things to finish up, but very minor. Basically, on a Reno, how does the state of the house affect the appraisal? I certainly don't want to waste money on one if I need to do a few things first anyway, but if I don't have to wait, then will the outstanding items just affect the value? Details: 3 bed 1.5 bath ~1500 sq ft. Built 1977 (KC, KS) Thanks! [link] [comments]  |
| Question for real estate investors Posted: 01 Sep 2018 09:40 PM PDT Would making windows bigger so you have an open view be something real estate investors do? Does it increase house value? For example; having a nice water view house but making the windows even bigger (so you have an even nicer view) Sydney, Australia [link] [comments]  |
| [FL] missing reserve audit report , advice please Posted: 01 Sep 2018 08:01 PM PDT We're in at the tail end of the inspection period. The inspection period was 14 days because we were out of town for the first week, so they extended it a week. . We received the condo docs 11 days into the inspection period giving us only 3 days to look them over. Those three days happen to fall on the holiday weekend. . The first issue is a missing reserve audit report. I asked for it. It's not there. . There is a balance sheet that shows 177k or 17.7 per unit on hand in reserves. There is another 160k or so in other funds. . There is a profit n loss statement showing that reserves are more or less being saved on budget. . The complex was in poor shape physically and financially after 2008. They've spent a lot on maintenance catch up. It looks nice. New roof. New decks. Lots going on, . The hoa dues are pretty high. We're told that's partially for catch up purposes. . But we lack the details of a standard reserve audit report and we won't be able to get one before our deadline. . Also, I'm pretty sure there's backup offers greater than ours, so the seller is uncooperative and seems to prefer we'd cancel. We'll get no leeway from him. . Should we accept and close ? Reject a place we really like ? Feeling very anxious about this .. [link] [comments]  |
| Having friends renting out a room! Posted: 01 Sep 2018 07:57 PM PDT Hey guys! I am currently living in a house that my parents still pay mortgage on. It's a 3 bed room 3 bath house, with a finished basement that has a huge closet and a complete bathroom. With utilities and my part of the rent I pay about $825, the mortgage comes out to be $1005 a month. At first we agreed that they would pay $325 (they are a couple) with utilities. It is very cheap, in my opinion. However, life happens and they kind of pushed away their move in date and were indecisive and told us they would let us know tomorrow about their answer. However, after considering everything and reassessing utilizes and etc I told them $400 a month with utilities and I am expecting an answer tomorrow. However, I have a huge feeling they are going to go with no as their answer. Now I feel bad, because I could potentially be losing out on $325, for wanting them to pay $400. I would say the house is an a great area and I live in Georgia if it matters. I truly believe I could get $500 for the basement, but since they are our friends I wanted to present them with a welcoming price. [link] [comments]  |
| Owning an AirBNB property from a different state - is it feasible? Posted: 01 Sep 2018 07:29 PM PDT I'm thinking of buying a property about a 3 hour drive from where I live, so obviously I won't be able to manage the property entirely. My question is, has anyone rented out an air bnb and had someone else manage it ? Would you advise against it? I think I found a good deal in a vacation market. I can purchase the property for $300k , but it would take essentially my whole savings. After closing costs and 25% down ($85k in total) I would be left with nothing, however, if my math is correct I could net around $20k /year. Are there better options in real estate where I could use my $85k? Also, I estimated air bnb management fee 10-15%, which assumes Im not completely hands off and do some administrative work. [link] [comments]  |
| Looking for good lawyer in Rochester,NY Posted: 01 Sep 2018 07:21 PM PDT Seller cacled the house deal 8 days before the closing date looking for a good lawyer who could help us get our inspection and insurance money back [link] [comments]  |
| What happens if an owner dies in Tenants in Common? Posted: 01 Sep 2018 07:16 PM PDT |
| [IL] Looking to buy a townhouse // Questions! Posted: 01 Sep 2018 06:56 PM PDT Hello, I am currently 23 years old looking to purchase a townhouse. My gameplan was to purchase a 3 bedroom townhouse, and rent out 2 of the rooms to help pay for the mortage, bills, and what not however I was told by my real estate agent that the townhouse could not be rented out, I wanted to ask questions but it seemed like she was extremely rushed to leave (possibly due to her son being sick & ill). Does anyone know why this might be? If i am living on the property, will I be able to rent out the 2 rooms? Better yet, If i was not allowed to rent out the property, would anyone actually care that I rented out to 2 people? This takes place in Chicago, IL Thank You so much! [link] [comments]  |
| Posted: 01 Sep 2018 05:45 AM PDT Hello everyone, My wife and I have been searching for a home for about 2 months. We found one that we will be taking a look at today here in Florida! So far, we like it. It has everything we are searching for. However, the home has gone through some crazy renovation to get to where it is at now. Per the pictures, it looks spotless. However, when I looked up the home on Google Maps, it looked like the home was uninhabitable. At what point should one steer away from a home that was in such dismay? The walls, floors, and roof had all been replaced, but will this be enough? It is a wood frame home, so I am worried about preexisting damage that was remedied with a bandaid. Where do I go from here? Edit: added location. I will also add pics ASAP. [link] [comments]  |
| I want to flip houses is section 3 contract selling, I'm not sure how all this works? Posted: 01 Sep 2018 05:03 PM PDT I found this site that explains the three ways to flip houses. I like the assigning the purchase method. Is this legal? This seems that it requires the least work, and most negotiation skills. Which I have. I live in Los Angeles California. [link] [comments]  |
| Posted: 01 Sep 2018 12:39 PM PDT [VA] I can't help but feel cheated out of an application fee. Standard leases are 12 months with maybe an option for 24 unless explicitly stated otherwise, correct? They're talking about wanting a more convenient time for our lease to end to rent again. If that was a concern, I feel like that should have been put in the MLS advertisement or otherwise brought up before I wasted money applying for my wife and I to apply. Are there any grounds to pursue getting that refunded? [link] [comments]  |
| Finding Data (Sales Price, Sales Date) for a specific area Posted: 01 Sep 2018 09:15 AM PDT I am attempting to find data on recent sales in a certain area. This can include the house's bedrooms, bathrooms, sq ft., sale price, sale data, etc. The problem that I encounter when trying to use Zillow's Research Data is that this certain town's (technically a borough) zipcode also includes a neighboring township. Is there any way I can pull data from some source only for the borough? If anyone has insight into this, that would be extremely helpful. In regard to my location, I am in Pennsylvania. Not sure if that helps. [link] [comments]  |
| Posted: 01 Sep 2018 06:50 AM PDT Hoping someone who is familiar with residential real estate and perhaps California can tell me how they think about this risk. I know that earthquake insurance exists, but does this typically cover all damage? Does anyone from the Bay Area know how this played out in the last big earthquake? Is it enough to not buy in a liquefaction zone? Is that so important if I were to buy a condo on a higher floor? I would love to buy in SOMA, but this is the one issue that makes me think about just renting in SF and buying a rental property in another western state with no natural disaster risk. [link] [comments]  |
| Listing and marketing international luxury real estate - need some advice Posted: 01 Sep 2018 06:49 AM PDT Hi, To cut it short, I want to sell two residential properties located in Eastern Europe, but I don't want to deal with realtors for my own personal and business reasons. Both of the properties are worth approx. 1,25 mil and 4,9 mil EUR respectively. One of the properties already has a tenant on a relatively favourable contract, so I was assuming that finding a buyer for somebody who wants to invest in the market is not going to be a problem. I was wrong. I've tried posting property listings all around. I got some leads, but none of them turned out to be legitimate buyers. I even flew out to Paris once to meet a potential buyer, but it turned out to be a pretty elaborate scam in the end. Most of the other enquiries that I am getting seem to be Nigerian scam artists. I've also used aggregate listing agencies that post property listings on a multitude of portals, but I came to conclusion that the prospective buyer engagement on those kind of services is very bad. Has anyone here have any experience in marketing real estate to an international audience? As my experience with free and premium listings so far has been pretty poor, I would be very happy if somebody could give me a pointer towards perhaps a different means of marketing such properties outside of listing sites. My experience with selling property has been at a national level only, so I've never tried marketing anything outside of my country. Any help would be much appreciated. [link] [comments]  |
| Forcing mortgage lender to deny loan to get earnest money deposit back? Posted: 01 Sep 2018 10:25 AM PDT Hi everyone, My wife and I went into contract with a national homebuilder back in March 2018. The house was expected to be completed by December 2018, but it does not look like that timeline will be met at this point. Communication with the sales manager and building superintendent has been poor; at this time, we really don't know when the home will be done (it's basically still a patch of dirt right now). Meanwhile, the local housing market is starting to stabilize and demand is going down. Prices on similar properties are starting to go down too and I believe the final appraisal will be below what we originally signed for. Not only that, I'm just starting to realize how crazy it would be to pay 6K/month for a mortgage (purchase price would be 1.07M) while still trying to pursue financial independence; it just doesn't make sense any more. My point is this: we've decided to hold off on purchasing a home for now and continue renting. However, the only way we can get our earnest money deposit back is if the in-house lender denies our mortgage application. We both have stable jobs and have enough cash/investments to cover a 25% down payment + residual funds. How can we make it appear like we can no longer afford this home? Our real estate agent told us that what most people do is move money around to family members' accounts so that it is not in their own account where the lender can see. Edited to add location: SF Bay Area Purchase price: $1,074,215 Down-payment: 25% I also forgot to mention that there were still some unsold lots in the community and the prices for those lots just got cut by $70,000. The sq. ft of those lots are similar or larger than ours. [link] [comments]  |
| Predict the future of real estate in seattle. Posted: 01 Sep 2018 09:19 AM PDT A 2000 sqft house in seattle north suburb Lynnwood/Bothell initially was sold in 2006 for 425k then resold at 225 in 2011, now it is listed at 500k. Now with a slightly bearish market What do you predict the price to be in 2022-2023? Please mention your reasoning. [link] [comments]  |
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