Is it wise to look at buying an inexpensive property across the street from student housing? Maybe rent out the spare room? Real Estate |
- Is it wise to look at buying an inexpensive property across the street from student housing? Maybe rent out the spare room?
- New construction home, dryer vent was drywalled off
- So I want to expand my garage and theres a hiccup.
- What relevant calculations are based on the assessed value of a home
- Got a call back from a real estate company in Washington state. I've never considered real estate as a career. What should I expect?
- Property line dispute Plat vs Deed
- House had prior, non-disclosed, flooding. We only found out after purchase was complete and we were moved in.
- Costs of buying on a “private drive”
- Clouded Title. Are we entitled to earnest money deposit back? [NY]
- Can I roll my closing cost into my loan?
- Fence is ~32" inside my property line. Options?
- Question
- Update to house under appraising: should I drop my selling price?
- things to look for when viewing houses?
- Am I committed to the settlement agent and escrow agent named in the purchase agreement? - VA
- Cancelling a newly accepted offer because a dream property came up?
- How important is photo of front of house and a narrative write-up on Zillow, etc.? [NJ]
- Recently moved to the US and want to buy a residential house in Ohio
- Two properties on one contract - how to do it?
- "Ruined" Roof (VA)
- First Time Buyer. Question about money up front. (Texas)
- Buying a house with a gift from relative
- Own and live in a house in a Mixed House/Office Zone, looking to be prepared for the possibility of redevelopment.
- This is my sample budget for me to check viability of renting. What other expenses might I be missing?
- Can I renegotiate rent based on failure to make repairs? (USA MA)
| Posted: 04 Oct 2018 09:47 PM PDT House is around 1k sqft, woodsy enclosed yard that's .25 of an acre, with recently redone interior. With a little tlc I could look at renting out the spare room. However, the windows will need replaced, along with the roof. I've yet to see the basement so I'm going to check it out for signs of foundation issues. I'm not broke, but this would be my first home. And obviously it's across the street from a student housing complex. Bad idea? Or possible [link] [comments]  |
| New construction home, dryer vent was drywalled off Posted: 04 Oct 2018 09:48 PM PDT Hey guys, closed on this home about 3 weeks ago. Basically builder is taking their time correcting this problem, been contacting them every day. We didn't notice that the dryer vent was walled off or if it even existed. Last week they came by and cut a giant hole revealing the vent. The hole is a little bigger than the vent connection so I can see the stud and wiring. Tried contacting the builder again this whole week to put in the baseboards and just finish it up. Just been ignored again. I know this is a minor problem at this point, but is their any kind of action I can take with the builder or just suck it up and finish it myself? [link] [comments]  |
| So I want to expand my garage and theres a hiccup. Posted: 04 Oct 2018 10:55 PM PDT So I found out today that my house was not built to the site plan. The plan called for a 10 ft set back. Matching the city code requirement. However, the lines of my lot are not square. My home should've been built straight back parallel to the line, it was not. So its 10 ft from the line one place. About 8.5 ft from the line in the back. So about a 1.5 ft run in essentially per 20 ft. I want to build straight back - adding 20 ft to my garage. That would end w my garage approximately 7 ft from the line if I continue on a straight path. Neighbors ok with this. However it violates city code. Does anyone have experience arguing for a variance? Any advice? Would an buying an easement from the neighbor be an option? Once the easement is purchased, expansion is rebuilt - could I then gift the easement back to my neighbor? Idk if that would even work. [link] [comments]  |
| What relevant calculations are based on the assessed value of a home Posted: 04 Oct 2018 11:50 PM PDT I am trying to do a rental property analysis. Let me know if I am right but I believe tax is 2% (Indianapolis) of the assessed value. I know insurance varies but a general rule is that it is $35/mo for every $100,000 of house. Is that based assessed value or how much you purchased it for? Side question: A house I'm looking at is asking $145k but assessed at $94k. Is this a red flag or can it be off by this much typically? (I am getting assessed valuation from the property card accessed on the states gov website) [link] [comments]  |
| Posted: 05 Oct 2018 12:47 AM PDT They had really good reviews on glass door, which had me sort of suspicious, but I'm considering moving to Washington state anyways just to get out of the southeast. [link] [comments]  |
| Property line dispute Plat vs Deed Posted: 04 Oct 2018 10:43 AM PDT I live in a lot in VA where my house in newish (2 years) but the lot dates from at least 1946. Recently land to the north of us which had been woods is starting to be developed for a subdivision. Our lot had never been map plated until 2015. It did have a metes and bound style plat that has maintained the same language from at least 1946. "Fronting 48 feet, more or less, on the north side of Quarry Road in the City of XXXX with a depth of approximately 125 feet. said property is shown as Parcel XXX on XXXXXX Tax Map sheet 60..." References to the tax sheet started appearing in the 1970s but all previous deeds all use the north side of road fronting language. The developers recently surveyed their land which is based on a 2001 map plat of their land, which according to them shifts my land south 8 feet, effectively putting about 300Sq feet of my land in the road. This became a problem because they then put a retaining wall at where they say the property line is. I dispute it based on my deed, they dispute it based on their plat. We are at an impasse. Part of problem is that the entire neighborhood was plated on paper in 1887 but the lots didn't actually exist back then and the lots they eventually came around don't reflect that old plat at all because my immediate area is a hill so it was never built up. Roads that exist now are not on that plat and roads on the plat have never existed. Four lots were eventually created in the 30s but no map was created for them other then tax maps which have been referenced in everyone's deeds. The 2001 deed of developers land is tied to that 2001 survey which shows that land as belonging to the developer. However, the 1995 deed of that land specific says Block 64 of the 1887 plat EXCEPT for Tax map parcels 115-118 (117 is mine) further more attached to that deed is a map that clearly shows that my land starts at the road not in it. Unfortiently the map in that deed is not as detailed as a modern survey plat but it clearly shows my land starts at the road not in it. I have submitted a claim to my title insurance company but they have been MIA since June, refusing to reply to my emails or return calls. I know the obvious answer is see a lawyer. I got that. But I've been in a holding pattern because this should be covered by title insurance and I don't really like the idea of paying a lawyer for something that should be covered by the insurance. So guess what I'm looking for is someone to rant to and perspective from the reddit masses. I do have some concrete questions for you all
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| Posted: 04 Oct 2018 10:59 AM PDT My husband and I bought a home 18 months ago just outside Atlanta, GA. We found out that it flooded top to bottom from a busted water pipe only after moving in. The previous owners did know about it because it was disclosed to them when they bought it as a foreclosure but it was not noted at all in our disclosure papers. The home was flipped and then we bought it and we did have an inspection done and he didn't find evidence of flooding since the house had been cosmetically flipped and new flooring/paint was done throughout. Anyway, we began renovations this spring and when ripping up floors and taking mirrors/fixtures off of walls we found mold on all of the drywall and under the old floors. Honestly, if we had known about the flooding there is no way we would have ever bought this house ever. Does anyone have any advice as to what we should do? [link] [comments]  |
| Costs of buying on a “private drive” Posted: 04 Oct 2018 07:20 PM PDT Hi Reddit, My fiancée and I are considering buying a house that sits on a private lane that only has about 9 house on it. My mother came with us and expressed concern about the costs and hassle of living on a private drive due to having to coordinate with everyone on the street to maintain the road (gravel). Just wondering if anyone here has any experience with this sort of thing and if we should consider this a potential deal breaker. The house is otherwise perfect for us - checks all the boxes (within 15 minutes of shopping, detached garage, and sits on over 4 acres with field for the dogs). Thanks for reading! [link] [comments]  |
| Clouded Title. Are we entitled to earnest money deposit back? [NY] Posted: 04 Oct 2018 06:03 PM PDT Looking for a second opinion about a situation we are in. The seller, whose husband died 6 years ago, has not cleared the estate. When we entered into contract with her, she believed that she was the sole owner of the apartment. Only when we attempted to schedule to close, did they say that they cannot do so until settling the will. But there's no guarantees of how long that can take, and may be delayed even longer if there are heirs that choose to contest the will. They are saying anywhere from 4 weeks, to a year. I am really frustrated about how this turned out, and I would like to know if the contract goes 30 days past "on or about" date, that I can get my deposit back. Thank you in advance on any insights! [link] [comments]  |
| Can I roll my closing cost into my loan? Posted: 04 Oct 2018 07:47 PM PDT |
| Fence is ~32" inside my property line. Options? Posted: 04 Oct 2018 01:48 PM PDT In WA state. Owned this house for more than 10 years, and wanted to know where the property lines were and now I know. The fence has been there since I bought the place, and I am guessing a decade or more past that. Finding a lawyer, but, what are my options? Don't really need a bigger yard, but not giving it away, not even sure I could sell it as them my house would be too close to the property line according to local zoning codes... Do I need to knock down the fence and build a new one? How soon? [link] [comments]  |
| Posted: 04 Oct 2018 05:03 AM PDT So this isn't actually me buying the property but a friend of mine, is signing the closing paper tomorrow for a house for 200k, in the Buffalo, NY area. So I he has a question, and I didn't know so I told him I would ask around. Here is the scenario... The seller has a couple other complexes he found out. He also discovered this lady is going through a divorce. She offered to cover 2k of the 15k closing costs, my friend had the property checked to see how much it was going to be to repair this house which ended up coming to 30k. The seller, and him both agreed on lowering the cost of the of the house 15k ( 183k now ). My friend was hyped because it would be a lower cost on his mortgage, he originally was going to pay the rest of the closing costs out of pocket. However this is where I get lost, I don't know if the following is common or not. The seller said she wanted to keep the mortgage the same, and pay my friend 15k and closing, and have the 15k go towards the closing cost, so after that my friend would actually see around $800.00 however the mortgage would stay at 198,000 .... [link] [comments]  |
| Update to house under appraising: should I drop my selling price? Posted: 04 Oct 2018 07:01 PM PDT I posted this yesterday: I was able to point out the errors in the appraisal and the appraiser brought the value up by $20k. Now there is still a $30k gap between the agreed-upon sales price. The buyer doesn't want to pay more than the appraised value which I understand. I've asked the lender for a second appraisal, but no response yet. It turns out that even though my home is a cookie cutter colonial in a desirable neighborhood, there hasn't been a sale here since I bought mine 4 years ago, so there are no good comps (hence why they used comps from 14 months ago). I'm located in a suburb of Boston. If you were me, having already packed and started moving, really excited about your new house that you need the sale proceeds in order to buy...would you just take the $30k hit? I am trying to convince my realtor to reduce commission which would make it more like a $23k hit (I'll have to get a bigger mortgage by that amount to offset the reduced net from my sale). Or would you stick to your guns, make a few updates, and re-list, especially since there's no gun to my head forcing me to sell aside from liking this new house much better? [link] [comments]  |
| things to look for when viewing houses? Posted: 04 Oct 2018 07:39 AM PDT Is there a good resource that summarizes the things we should be looking for/at when viewing homes w/ a realtor? We are seeing a number of homes this weekend. We live in a more rural community so the house range from older to relatively newer homes. I'm aware of checking on the roof, investigating how well the house is sealed, HVAC, etc. Any other tell-tale signs we should keep an eye out for? Thank you! [link] [comments]  |
| Am I committed to the settlement agent and escrow agent named in the purchase agreement? - VA Posted: 04 Oct 2018 09:09 AM PDT I'm buying a FSBO house and trying to navigate this without a realtor. I have my recently signed purchase agreement which names the escrow agent and the settlement agent. Initially I made the decision to go with a "zero closing costs" outfit and used one of their preferred attorneys. The attorney is familiar with their process and drew up the contract accordingly, naming the loan company as both escrow and settlement agents. However, since waiting for the documents from them I've contacted other loan agents for a competitive comparison and it is looking like they may be a better deal. If I do decide to go with another agent not named in the signed agreement, do we need to redo the purchase agreement? Sign an addendum? Nothing? [link] [comments]  |
| Cancelling a newly accepted offer because a dream property came up? Posted: 04 Oct 2018 12:51 PM PDT Oregon buyer here. I made an offer on a home and the next day I found my dream property. So that night 12 hours before the deadline of our first offer I told my realtor to withdraw my offer on the first home and work on an offer for our dream home. There must have been a miscommunication because a withdrawal was not made and the offer got accepted! We have not paid our earnest money yet. I was going to send an apology to the seller if that's possible. Legally what would happen if I refuse to send the earnest money and try to cancel right away? I know Oregon is a very buyer friendly state and you can refuse a seller disclosure with no reason given. However i'm trying to cancel before we even get the seller disclosure just to save everyone time. Any advice? [link] [comments]  |
| How important is photo of front of house and a narrative write-up on Zillow, etc.? [NJ] Posted: 04 Oct 2018 06:15 PM PDT My sister is in charge of selling our late mom's house, and for a couple of months now the ads on Zillow (and similar sites) have two issues that don't seem quite right to me:
The house has been sitting for two months with some visitors (we are selling it, for now "for sale by owner", though my sister has her real estate license). I don't know how many, but the open house had 2 people come by the first time and 2 the second. She may have shown it to another 10 people, something like that. She believes the issue is not at all the ad, but that the visitors are just not buying. To me, not having a photo of the front of the house at least is not good. I also think the property taxes right in the ad are a turn-off, and the "list" structure is also something that makes one's eyes glaze over. I rewrote the ad using more "sales-y" language and narrative flow. The text now kind of walks you through the house and incorporates teh same features as you would expect as you tour the home. (I am a freelance writer that does a lot of promotional writing, so I have some ability here). I live 5 hours away and my sister has led the point on this home sale, but it's also important to all of us to get the house sold quickly and for as good of a price as possible--obviously. I just wanted to check with Reddit's wisdom to make sure I'm not off base on this issue of the ad. I was motivated to ask because it's been about a week and she hasn't changed the ad yet. (She is busy and I know she is doing so much, so I don't want to be a pest about it, but it's in her best interest, too). Thanks! [link] [comments]  |
| Recently moved to the US and want to buy a residential house in Ohio Posted: 04 Oct 2018 10:35 AM PDT I heard from a US friend that the buying process is quite different here than in my home country (Europe). I am looking for information about the agents, the different insurance/protection and the taxes for the buying process:
Alright guys thank you for reading! Hopefully you can help me for some of these questions. [link] [comments]  |
| Two properties on one contract - how to do it? Posted: 04 Oct 2018 01:54 PM PDT I am selling two lots. Can I put them on the same contract? Just the legal description of each on it's own line? Bad idea? [link] [comments]  |
| Posted: 04 Oct 2018 11:41 AM PDT We're in the process of selling - we got a contract Sunday and the inspection took place yesterday. The official report isn't back yet (radon test is still going), but our agent said the buyer's agent said the roof is "ruined" and all the granules are gone. We're waiting on pictures and evidence from the inspection report, but I'm skeptical because there are no missing shingles, no curling shingles, and no leaks. We were all set to put in an offer an a new house this weekend and now we're a little spooked. Our relator had dental surgery today, so we're not able to get much from him right now. What should be our next steps? Should we sit tight until we get the repair request from the buyer or is there something proactive we can do? ETA: I know this will largely depend on what the repair request and inspection report say, but the buyer already lowballed us on the price. How far should we be willing to negotiate on replacement cost? [link] [comments]  |
| First Time Buyer. Question about money up front. (Texas) Posted: 04 Oct 2018 05:31 PM PDT My Wife just got orders to Corpus Christie, TX. We want to finally buy a house. We've been renting for so long and are sick of paying super high rent on something we don't own and can't make our own. We plan to make use of the VA loan, but had a question about money up front. Is there a way to purchase a home without bringing money to the table? [link] [comments]  |
| Buying a house with a gift from relative Posted: 04 Oct 2018 01:00 PM PDT Hello all. I'm not sure if this is the right place to post this, so please let me know if not. I have a relative that I'm very close to who is well off financially and she wants to gift my husband and I 100K to put towards a house. I don't have any knowledge of how to do this in a way that we're not losing a ton of this money in taxes as it's considered a gift. Does anyone have any experience or advice? [link] [comments]  |
| Posted: 04 Oct 2018 12:50 PM PDT As the title states, my approximately 15 acre neighborhood is currently zone Mixed House/Office (MHO). We are situated downtown and 3 of the four sides of our neighborhood border Mixed Commercial (MC) zones. There was a report pulled together a few years ago that illustrated general objectives and goals to grow the downtown area. One of which would be to rezone our current neighborhood which is all single family residences, to a medium density, multi family residential zone. Currently there are three MHO zones, the second zone is in the process of being vacated and will be redeveloped into a town center, mixed use buildings, and new city hall. With that project moving forward and the expansion that is going on outside of the downtown area it's plausible to expect our neighborhood is next up for conversion if some developer thinks it makes sense. Which from my limited knowledge it does, we are one street off of the main drag, fantastic walking distance to grocery stores, restaurants and other attractions. The main negative aspect is that there is a there are some critical wetland areas nearby that might negatively impact a developers choice. So my questions are
Any thoughts, links, or personal experiences would be fantastic. Thanks! [link] [comments]  |
| Posted: 04 Oct 2018 08:46 AM PDT This is for a 3/2.5 2100 sqft town home that is legally a condominium where all exterior elements (exterior walls, roof, exterior paint, and drive way) are owned and insured by the HOA. The biggest things that are our responsibility are garage doors and appliances inside. I've confirmed that we're nowhere near the rental restriction limit for the HOA. I've never been a landlord before, what other monthly / annual expenses am I missing here? Any suggestions for a first time renter? Thanks in advance! [link] [comments]  |
| Can I renegotiate rent based on failure to make repairs? (USA MA) Posted: 04 Oct 2018 04:07 PM PDT My landlord has failed to fix a leaking roof for over a year. They obviously have not put in the effort/money to hire someone who knows what they're doing as I can still see obvious areas that need repair and the roof still leaks. I'm not going to just move out b/c that would be severely inconvenient right now. I would like to propose discounted rent while the roof is still leaking. By MA law I can withhold rent until it is fixed. I'd rather not go that route b/c it will stress them, and in the end I still need to pay all back rent when it's fixed which I doubt they are able to do. I feel a discount is due having lived with brown roof water splattered in the house for 18 months and is the most reasonable solution for both of us. Is that a reasonable/legal thing to request? Or what other options are there? [link] [comments]  |
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