First time out on my own (NYC), problems a month and a half in Real Estate |
- First time out on my own (NYC), problems a month and a half in
- Cross post: Neighbor on cul-de-sac sold to developers to turn house next door into an entrance to a gated community (GA)
- What is the best advice you’d give a first time home buyer? (Wa)
- question about an Escrow refund check after selling my duplex.
- removing appraisal and loan contingencies
- Selling agent blocking my offers?
- Future First-time Homebuyer / Current Idiot
- Need to start the eviction process but court is closed before I get off work.
- Australian property
- Help selling house to friend without agents
- How to vet banks for real estate investing
- Need advice as first time investor
- What questions should I ask an investment/wholesale real estate agent?
- College Grad, Aspiring Analyst
- What is your view on the Inland Empire real estate market?
- [Question by Owner&Seller] selling to a friend
- Supposed to close on Columbus Day
- Starting a Rental LLC in WA. Question on trust accounts
- What are your guys opinions on how the new trade agreement could have a trickle affect on our Real Estate markets?
- How to buy second residence & turn current residence into rental
- Paying for repairs prior to closing on short sale?
- Down payment or closing costs...
- Breaking a lease half way through term
- Hard to sell
| First time out on my own (NYC), problems a month and a half in Posted: 01 Oct 2018 07:40 PM PDT Context: Signed a lease for 8/15/18-8/31/19 Rent is $2800 a month My roommate is international, so we needed to put up 6 months upfront. 1st month, last 3 months, 2 security deposits. Problems I'm having:
I have not received a response in 5 days, and with the new month, a new payment is due. So because I was annoyed, I sent an email that said: The website still isn't updated. You guys are not picking up the phone or answering emails. Still no response in regards to a smoke detector. We are beginning to feel something shady is going on. We will reach out to you shortly. What is the best way to proceed, and was my last email a mistake? [link] [comments]  |
| Posted: 01 Oct 2018 07:49 AM PDT Hello all, As I mentioned in the title, I live on a cul-de-sac. The neighbor immediately next to us is at the end of the cul-de-sac. They sold out to a developer who also owns some property that is alongside our property. The developer is planning to turn the end of the cul-de-sac into the entrance to a gated community with 20-30 cookie cutter homes. They are requesting a special land use permit to enable them to proceed. I'm wondering if that means their property is not zoned for what they are trying to do. What are my options? Can the remaining neighbors band together and stop this from happening? I posted this on Legal Advice, but I would like to get as many options as possible, so I cross-posted here, also. Thanks so much for your help. P.S. This is a throw-away account because I don't want to show my hand to the developers. [link] [comments]  |
| What is the best advice you’d give a first time home buyer? (Wa) Posted: 01 Oct 2018 08:40 PM PDT Making our first steps in the dark. Signed up for first time homebuyers class. Got approval rates from our bank seems good! We both have good credit, lower income looking in our price rang. So may not be the best kept houses. What should we watch out for? What should we look into? (Skagit valley WA) [link] [comments]  |
| question about an Escrow refund check after selling my duplex. Posted: 01 Oct 2018 09:54 PM PDT Hi everyone. I sold my duplex recently. Closed around August 20th. i just received an escrow refund check for a little over $3,100. My question is; Can i use this money as i please or am i still on the hook for something such as prorated bills for property taxes or home insurance or anything of that nature? I dont want to spend the money only to find out i needed it to pay my portion of a bill for 2018. Thanks for any advice. This is in the state of WIsconsin btw. [link] [comments]  |
| removing appraisal and loan contingencies Posted: 01 Oct 2018 03:29 PM PDT I'm looking to get a property in LA and my realtor recommended that I remove my appraisal and loan contingencies on a condo I want. He said that condos around here usually appraise for around list price. I have the money to cover a low appraisal, and I have no problems securing a loan. However, I'm a bit iffy on releasing those even if it'll make the offer more competitive. Should I follow my realtor's advice in this situation? I'm a first time buyer, so this is all pretty new to me. [link] [comments]  |
| Selling agent blocking my offers? Posted: 01 Oct 2018 06:28 PM PDT I have been working with a real estate agent in hopes to find a home to buy in my town. Driving down a dead end road I saw my dream home with a for sale sign on the front lawn with the listing agents number on the top. I called and left a message for the listing agent and my agent. I was so excited because looking at the info on trulia it showed that the price dropped from $370k to $335k (now within my budget). After receiving a call back from the listing agent she said she was willing to work with me and show the house that day. Mean while my agent couldn't get a response from her all day but I was able to get an appointment to see the house. When we showed up for the appointment the listing agent was under the impression that she was representing me for the sale as well as the seller. I guess this is what you would call duel representing? (When listing agent represents buyer as well) She stone walled us through the entire showing of the house. Not having an answer to a single question that I had. By the end of the walk through I offered to meet the asking price. We were then told that they have already been offered asking price to we put in an escalation clause of $1500 over what anyone else is offering. This listing agent proceeded to not answer any calls texts or emails from my agent. When my agent was not responded to for over 10 hours she requested that her messages were at least acknowledged. My agent was told that they had an offer with more money down but didn't reveal what the offer was. So we decided instead of $15k down we decided to put $75k down and $15k over asking price. This offer was still met with silence. Until my agent got the call 2 days that the seller excepted another offer. We didn't even have a chance to counter. Now, my good people of reddit, has this listing agent done anything illegal by blocking my offers or not allowing me to respond to other offers? I can imagine the listing agent may have been representing the buyer and seller in this deal so it would make sense to make all of the commission. I have a feeling that my offer and letter wasn't even presented to the seller. Is there anything I could do? This deal was located in upstate NY TL;DR offers on my dream house were blocked by listing agent and not responded to for over 24 hours at a time. Seller took an offer that was probably less than what I was offering. What can I do? [link] [comments]  |
| Future First-time Homebuyer / Current Idiot Posted: 01 Oct 2018 02:25 PM PDT Hi! I am looking to buy a home 6-18 months from now (DC/VA/MD) and want to start doing my due diligence, but if I'm being honest I really have no idea where to start (I don't know what figures mean, what various slang and abbreviations are, what rates are considered good, etc.) I'm a little embarrassed to ask friends and family about this kind of thing until I kind of find my footing a little bit. Anyway, I was hoping folks here might have some solid, reputable, and up-to-date resources they could share to help me get started. Literally at square one here so any rock-solid tips, things to know, or guides would be super appreciated. Thanks! [link] [comments]  |
| Need to start the eviction process but court is closed before I get off work. Posted: 01 Oct 2018 05:38 PM PDT Tenant gambled his rent away. Are there online options for filing an eviction lawsuit? Also, I live with the tenant and handed off the pay or quit notice. How can I create proof that I did so? [link] [comments]  |
| Posted: 01 Oct 2018 10:58 PM PDT To any Australians property enthusiasts, i like to offer an invite to r/AusPropertyChat Australian property is a big topic and its about time we got a good forum for it. i look forward to seeing you there.. cheers [link] [comments]  |
| Help selling house to friend without agents Posted: 01 Oct 2018 06:11 PM PDT I owe a few thousand less on my home than it should appraise for. I want to sell it to a friend and not pay anything out of pocket. Assuming the house apraises for and he gets approved for more than what I owe and closing costs, is this feasible? I'm not sure what closing costs would be without any realtors involved. [link] [comments]  |
| How to vet banks for real estate investing Posted: 01 Oct 2018 05:54 PM PDT Hi! I've been studying how to get into real estate for awhile and I'm at a point where I'm choosing what bank I want to work with. What should I be looking for in the bank I finally pick? I want to go to a few different banks and ideally have a template of questions to ask. Anyone have any sagely advice? [link] [comments]  |
| Need advice as first time investor Posted: 01 Oct 2018 01:59 PM PDT Hi everyone! I am 24 years old and have around $40,000 in savings. I really want to get into real estate investing as I have a passion for homes, landscaping and working with my hands. Ive been interested in this space for awhile now. How should I get started with the amount I have saved up. Is it enough? Currently live in Toronto area but family is from and lives in Peterborough ON. Thanks for the help :) [link] [comments]  |
| What questions should I ask an investment/wholesale real estate agent? Posted: 01 Oct 2018 08:36 PM PDT Any help is appreciated. I have an investor for a flip, and the people to do it, but not sure of the best way to find a property. I'm meeting with an investment realtor tomorrow. I believe they buy houses in bulk and look to sell them to people like me, but not sure if it's my best avenue. I really don't care to be told that a flip is a bad idea. I remodel homes already, I've just never purchased one myself. [link] [comments]  |
| College Grad, Aspiring Analyst Posted: 01 Oct 2018 08:26 PM PDT I'm graduating college this year and am looking to get into acquisitions. I have one summer of experience as an acquisitions intern at a private equity company in west los angeles. While looking for jobs, most places look for at least a years experience. Does anybody have any advice in moving up to this level? Do i need to work more lower level real estate jobs to be a more qualified candidate? what is some relevant experience? [link] [comments]  |
| What is your view on the Inland Empire real estate market? Posted: 01 Oct 2018 07:44 AM PDT Just wanted to get a general sense of what people think of the Inland Empire real estate market. I am from the LA area and feel like everything is out of reach here. Im considering the IE, but I cant really get a feel if that market is also over inflated or if it still a good time to buy Thanks [link] [comments]  |
| [Question by Owner&Seller] selling to a friend Posted: 01 Oct 2018 08:07 PM PDT Let's say the property is sold at a million, instead of having 1M on paperwork, if my friend has 600K cash, can I take 500K cash and 500K check (100K down payment + 400K mortgage) To avoid: 1. Property tax won't go up for my friend 2. 500K less capital gain Question: -Is it illegal? (Reference please) -Is it basically tax fraud? If so, what might be the proper way to achieve these goals? -i guess the Feds would look into it because ay transaction larger than 5K/10K are being looked at now, right? Please advise, thanks! [link] [comments]  |
| Supposed to close on Columbus Day Posted: 01 Oct 2018 08:01 PM PDT Our closing has been delayed several times and is currently scheduled for Monday—which I just realized is Columbus Day!! I know most banks are closed on Columbus Day so does that mean our closing will be delayed again? I plan to ask our lender in the morning, but just thought someone might have a quick answer. Thanks!! [link] [comments]  |
| Starting a Rental LLC in WA. Question on trust accounts Posted: 01 Oct 2018 07:22 PM PDT In WA, the law requires you to place security deposits in a trust account. I just started my LLC and I'm trying to decide on what bank to use. As far as trusts go, does any bank do trust accounts? Can you have the same trust account for multiple units or does each one need it's own? Do these accounts usually have maintenance fees? Not finding much info with banks without having an account with them. [link] [comments]  |
| Posted: 01 Oct 2018 07:07 PM PDT |
| How to buy second residence & turn current residence into rental Posted: 01 Oct 2018 11:05 AM PDT I realize a lot of this information needs to be discussed with a loan officer, but we're still conceivably six months to a year off and I'm very confused and trying to get the lay of the land... We purchased a home two years ago that was most likely a mistake — we loved the property and the area but it was reeaaaaaaaally too small (what a shocking first-time homebuyer mistake!). We currently owe $260,000 on the property, and it is worth between approximately $400,000-$420,000, according to our realtor. We would like to move into a bigger property, which would cost between $400,000-$420,000 in the current market (we would be moving to a slightly less desirable area, so it would be a roughly fair trade). We would intend to stay there for at least 15-20 years. We are trying to figure out our options. We have no other debt and excellent credit. We could fund a down payment of roughly $20,000 out of our own savings. We put down a very sizable down payment for our current house, taking up a lot of our liquid cash. Option 1: Sell the first property and use the equity in that to buy the new property. This seems the most straightforward, and we could use a HELOC or bridge loan to reach at least a 10% down payment. The only concerns are that we would need to do a minor renovation of the kitchen before selling, which would either require more loan money or cut into our savings. Option 2, which our realtor is recommending: Turn the first property into a rental property and buy a second home to serve as primary residence. We're in a good, desirable area that has been doing well and is expected to weather any market downturn decently. (Of course, none of us have crystal balls, so that still makes me super nervous.) Similar properties nearby are renting (quite quickly) for approximately 15-20% more than our total monthly mortgage/insurance/tax payment. But I am very confused about how this would work. Could we take out money using a HELOC to increase our down payment on the second property? How would repayment look for that? Is this a stupid idea? Obviously, we need to talk with a loan officer, but I don't even know what questions to ask right now. Any thoughts are welcome — please let me know if I omitted something important. We know we need more space, and building onto our current home will be dramatically expensive without great long-term returns. So we're trying to figure out the best way to achieve that goal. EDIT: If it affects your advice, our incomes can technically sustain both mortgages, but only as an emergency solution. It wouldn't be sustainable for months on end. [link] [comments]  |
| Paying for repairs prior to closing on short sale? Posted: 01 Oct 2018 12:11 PM PDT Hi everyone. I'm in the final phases of closing on a short-sale. We have a signed contract and short sale approval letter from the seller. The bank is requiring that we repair the rotten soffit/fascia (underside of the roof overhang) and have a licensed plumber fix leaks in the plumbing before they can close on the loan. The sellers do not have any money to do this repair so I would have to come out of pocket to pay for these repairs. I'm nervous paying for these repairs only to have the sellers back-out, change their mind, and relist the house. Does anyone have any experience with a situation like this? My only thought is to get a real estate attorney to write a lien on the house for the cost of the repairs to ensure they don't back out. [link] [comments]  |
| Down payment or closing costs... Posted: 01 Oct 2018 06:08 PM PDT The numbers are tight....maybe 20k over the life of the loan. Home is 336k. On table 1....3.99 percent interest and 10k closing with a 26k down payment.. Table 2....4.5 percent and 3k closing with a 33k down payment. This does affect my payments a little because the VA funding fee changes at 0,5, and 10 percent down payment. I will get it refunding when my disability comes back but the payments shall stay the same. Maybe I'm over thinking it. [link] [comments]  |
| Breaking a lease half way through term Posted: 01 Oct 2018 02:06 PM PDT Let me start this off by saying I really dont want to break the lease. I've rented before and understand that I am liable for the entire term of the lease because I did sign a legally binding document (on top of a cancellation fee). But, if a roommate situation becomes unsafe (mental instability with a gun essentially) is there anyway I could break the lease without destroying my credability? [link] [comments]  |
| Posted: 01 Oct 2018 02:03 PM PDT I have a house I cannot get rid of. It's in an area that no one is really buying in because there is no jobs. I've rented it a couple times but both ended with head aches. I just want to get rid of the place. Hard to keep up with the mortgage. Should I just keep hanging on to sell it even if it takes a long time? Should I try to short sale it? Should I just accept it and keep trying to rent it? Could I just let it foreclose? What would even happen to me if I did stop paying for it? [link] [comments]  |
| You are subscribed to email updates from HomeOwners & Investors. To stop receiving these emails, you may unsubscribe now. | Email delivery powered by Google |
| Google, 1600 Amphitheatre Parkway, Mountain View, CA 94043, United States | |
No comments:
Post a Comment