Roof failed inspection, buyer Real Estate |
- Roof failed inspection, buyer
- [CA] Question about evicting squatters that claims tenancy in Southern California
- Las Vegas - When can owner moving back into home after evicting at will tenant?
- What can house buyers in California do about last minute squatters?
- Is wholesaling a scam?
- Landlords and Property Managers, what are your methods and standards that others disagree with or things that make your properties special?
- Why is their a law that protects squatters? I am new to all this and it seems really stupid that there is something in place for them
- What does realtor really see?
- What architectural style is this 1905 house?
- Salesperson license question
- Unsure about my (buyer's) agent's advice
- Access to transaction info?
- Is it wrong for buyer to ask for info/documentation up front when a house has had significant foundation work done?
- How much negotiation room is generally there for newly built homes?
- How to value Real Estate LLC
- Help - please advise - under contract, employer getting bought
- Co2 detectors...
- DOJ and NAR settlement expires next month; will real estate data go back to being highly restricted?
- Moved into new condo- what should I get from seller
- Drywall dust in furnace and vents
- Nj first time homebuyer
- [IL] My dream house went under contract
- Leave as is or paint?
- Asking for suggestion: I’m looking at a house (2005 built) that had a roof collapse in a hurricane. Moreover, it is known that the house was robbed multiple times from 2005-2013. What should I be cautious about in buying this house?
- First time buyer
| Posted: 27 Oct 2018 10:13 PM PDT We are under contract on a house built in 72. The actual owners of the home are in nursing care so family is selling the home through their estate, because of this little to no information on age of roof and service dates. The roof failed inspection today and he home does have some evidence of leaks in the master br. Are we unreasonable to ask for the roof to be replaced as a contingency of the sale, the sale is contingent on our satisfaction with inspection. We are not sale continent on our current home but want to move out before listing it. Would a repair escrow from sellers be worth negotiating. I realize with the age of the house I don't expect a brand new roof but with no history available for all I know it's possible this is the original roof, [link] [comments]  |
| [CA] Question about evicting squatters that claims tenancy in Southern California Posted: 27 Oct 2018 02:17 PM PDT So, I posted the whole story so far here, but essentially I just closed on my home yesterday and I have squatters. Biggest problem is that they are related to seller (who cannot be located). I can't afford to pay mortgage, pay rent/storage, and hire lawyers for however long this goes on. I am hopeful to get an immediate order of removal from the judge, and looking to get any pointers that will strengthen the case. Not sure if anyone here would know any more about this than the 12+ straight hours of research I have been doing, but any info is greatly appreciated. [link] [comments]  |
| Las Vegas - When can owner moving back into home after evicting at will tenant? Posted: 27 Oct 2018 10:49 PM PDT We hired the constable to perform a lock out on Monday. Back story: My SO is the owner of the home. SO's ex refused to move out and SO moved out instead to give her time to find a place to live. She lied that she had breast cancer and never provided any evidence. He moved into an apartment because he didn't want to be around her. She was very toxic and drank excessively. The timing for the eviction process took longer than expected and our lease for the apartment was up and we had to move out. Currently staying in a hotel until my SO can get his house back. Does anyone know how long we have to wait after the lockout before we can move in? We just want to start our life together peacefully as soon as possible. All her belongings are still there. We gave her ample time to move out before serving her the at will eviction notices and then finally being approved by the judge to order a constable to perform the lockout. [link] [comments]  |
| What can house buyers in California do about last minute squatters? Posted: 27 Oct 2018 07:42 PM PDT We keep seeing stories about squatters preventing the buyers from moving in. In some cases the squatters move in between the final walk-through and the closing. Can buyers take defensive actions to prevent such problems? Such as, at the final walkthrough, change all the locks, post "no trespassing" signs, install security cameras, etc.? Not to evict squatters, but just to prevent them from moving in. Because it seems cops won't help. Besides the above, what other preventive measures can buyers take? [link] [comments]  |
| Posted: 27 Oct 2018 02:14 PM PDT I've been hearing and seeing a lot of people say wholesaling is a scam or it's illegal, what are the loop holes? How are so many people doing this without a real estate license and not getting in trouble? https://www.richardhornsby.com/crimes/regulatory/unlicensed-practice-of-real-estate.html [link] [comments]  |
| Posted: 27 Oct 2018 04:27 PM PDT Any landlords or property managers out there have any secret tools of the trade or quality-of-life standards that make their business run better? I don't want the standard advice like "buy cheap and do your own repairs", "screen tenants". No slumlord ideas or cheap-fixes to get slightly better ROI. I'll start.
I know these ideas are contrary to everything your standard owner does. My theory and personal experience is that tenants treat low quality features of houses like trash, and they treat nice things with great care. We charge 10-20% more per sf than comparable rentals and $50/pet with no problem filling vacancies. I have never had a tenant default nor damage any of my properties. I can explain my reasoning if anyone is interested in discussing specifics. Some Basics about me for perspective: I own 3 SFH rentals, 1,000-1,900sf, in Florida suburbs. I treat my tenants like the house is their home, and I cover most of the repairs/replacements at no cost to tenant (if it wasn't negligence). Currently looking for my next project. [link] [comments]  |
| Posted: 28 Oct 2018 03:23 AM PDT |
| Posted: 28 Oct 2018 03:08 AM PDT Looking at an international move so lots of organisation required. Have lived in house for 5 years. We are getting in same purchase realtor to sell as we liked him. He wants to have a look at the house to establish the price. What is he looking for? Worried that house is messy due to some things moving/selling/donating throughout house. These items will be mostly gone by the time of viewing. Are we better to wait, or can he see beyond that when looking at a price? What if we are working on say the garden and tell him the minor work we need to do. Does he price with that in mind? How should we best prepare for this? Many thanks. Edit: I guess I mean if place has carpets which won't be there on viewing, how does real estate person know floors are not scratched up or pictures aren't covering holes? (No scratches/holes just wondering how they determine price?) [link] [comments]  |
| What architectural style is this 1905 house? Posted: 27 Oct 2018 07:13 AM PDT |
| Posted: 28 Oct 2018 01:54 AM PDT Hello, I am a college undergrad and am on track to take the required coursework to sit for the exam in my home state (NY) after graduating. I want to get my license, but I don't plan on working for a brokerage firm right away. I've read that before you are officially awarded your license you must hang it with a brokerage firm. Since I don't plan on being employed by a brokerage firm right away, is there any way I can still get my license while working in a different industry? If this isn't clear enough, let me rephrase: Is there any way I can get my salesperson license and "sit on it" for a while before I get sponsored by a real estate brokerage firm? I'm planning on mainly using the license as a resume booster for the first few years of my career. Thanks for any insight. [link] [comments]  |
| Unsure about my (buyer's) agent's advice Posted: 27 Oct 2018 04:10 PM PDT Please bear with me; I'll try to make this as brief as I can. I'm looking at a duplex in my town, which currently rents for $2200 combined ($1100/side). It was built in 1987 and has had some updates, but probably has about $5-10k in required updates to the carpet, paint, and other fixtures. The seller is asking $220,000, but if I were to apply the price-per-sqft of the highest comp in the neighborhood, the value of the house would be about $183,000, so we offered $180,000. The seller's counteroffer was $200,000 ("meet in the middle") . This is slightly out of my comfort zone, and I asked my agent to counter again at $190,000, the price at which my math says my collected rent would break even with the house expenses (aka all mortgage and house expenses are covered, but there is $0 cash flow). At this price, the BiggerPockets Calculator also reports 5.75% cap rate. I also explained to my agent that I'm hesitant that I'll end up ever getting $200,000 back when I sell it (aka I'm not sure about my exit strategy). She e-mailed me back explaining that she feels $200k is fair, though she didn't really explain how she arrived at that conclusion. She also expressed that $10k is not a big deal in the scheme of the mortgage, and that "we'll have an appraisal contingency. If the appraisal comes back low, you can back out, and if it appraises for $200k, that would become a comp and raise the value of the neighborhood. You wouldn't have trouble getting your money back." I'm just torn and looking for opinions. Am I right to stick so rigidly to my calculations and numbers, or is she right that $10k isn't a big deal and the home appraisal contingency will save me from making a bad deal (and has the potential to raise the value of all homes in the area by becoming a new comp.) Thanks for your help! EDIT: It may be relevant to add that this is the only duplex currently on the market in my town. It's kind of a take-it-or-leave-it situation. [link] [comments]  |
| Posted: 28 Oct 2018 01:29 AM PDT How can I access info about real estate transactions involving an agent? My (crazy, hot, widowed) aunt is seeing a guy who is a broker in FL. He has minimal presence online, zero presence on Zillow or Trulia. He tells her he is selling houses and making $. Is there any way to verify his role in a transaction? [link] [comments]  |
| Posted: 27 Oct 2018 06:32 AM PDT The house I want to make an offer on had foundation repairs recently. I'd like to see the warranty and paperwork to know why it was needed and what exactly was done before putting in an offer in. Seller seems to be accommodating, but my agent wants me to make an offer before asking for info. Is it wrong to ask for documentation up front? House has been on the market for over 6 months, so I feel my request is reasonable. [link] [comments]  |
| How much negotiation room is generally there for newly built homes? Posted: 27 Oct 2018 04:54 AM PDT A 2018 1500sqft home listed by the builder for $229,000 but I believe thats overpriced for the area. Do companies normally inflate new home prices with room to haggle down? [link] [comments]  |
| Posted: 27 Oct 2018 03:24 PM PDT Hey, Reddit I am just getting started in RE investing and am starting an LLC with two other people. We are interested in using the BRRRR strategy to buy and hold rentals. We have a business model and plan in place. However, one thing I have had a hard time finding information about is: How does one value the business when one partner eventually wants to leave the partnership? Is there an industry standard for valuing buy/hold rental companies? I'm thinking there are three prongs to valuing the business: i) Equity in the property -This seems pretty straightforward. If the business has 1M in equity and one of the three partners wants to leave, their share is 333K. ii) Equity in the business accounts -We plan on reinvesting all profits and maintaining a separate business account to handle all of the deposits and withdrawals. If there is 30K in here when the partner wants to leave, their share is 10K. iii) Value of future cash flow -This is the prong that I am seeking advice/guidance about. Does the departing partner have an interest in the future cash flow of the business? If so, how is that value calculated? For example, if the company is generating 50K in revenue per year (let's say a net of 15K), how do you value this when buying out the partner that is departing? [link] [comments]  |
| Help - please advise - under contract, employer getting bought Posted: 27 Oct 2018 03:19 PM PDT Hi fellow readers, I am in a difficult situation. My employer is getting bought out and I am currently under contract for a new construction. I have already paid earnest money deposit and I am uncertain about my future under the new employer. The last thing I want to do is get into a loan and be fired from the new job. Will I still be deemed qualified for loan approval financially by the lenders? How can I recover my initial EMD? Has anyone experienced this situation and how have you tackled it? [link] [comments]  |
| Posted: 27 Oct 2018 04:57 PM PDT Small building- 5 units- two tenants complain Co2 detectors beeping (one replaces batteries and it still goes off). Local power company comes out- says everything is fine. Suggestions? [link] [comments]  |
| DOJ and NAR settlement expires next month; will real estate data go back to being highly restricted? Posted: 27 Oct 2018 08:58 AM PDT |
| Moved into new condo- what should I get from seller Posted: 27 Oct 2018 09:52 AM PDT Found a couple of non-working outlets and other things, kitchen does not run cold water. Is there a checklist of systems in the house that I should go through with the seller. I have a walk-through soon. [link] [comments]  |
| Drywall dust in furnace and vents Posted: 27 Oct 2018 09:38 AM PDT Found drywall dust in furnace and ducts during the inspection on a new construction in a development. The contractors had the air return taped off during drywall and paint but the plastic was ripped off (and almost sucked into return) leaving the return unfiltered for around 2 weeks. I've already asked to have the system professionally cleaned but also read online how harmful drywall dust can be to the internals of the furnace (reduced efficiency & lifespan). Some manufacturers will void the warranty if any drywall contamination is found. Is it unreasonable to ask that the furnace be replaced if this will void the warranty and how difficult is it to remove the contamination from the ducts? We are supposed to close Monday. Washington State [link] [comments]  |
| Posted: 27 Oct 2018 05:55 PM PDT Hey reddit. Currently looking into buying a multi family home. Either two or three family. Looking for colonial style so i have been looking into areas such as union. Im open to similar areas that have the same type of township as union where i can raise my kids in. I want to buy multi family becuase i can get income from the rent to help pay off the mortgage. I have about 50k in my 401k and i can take out a loan as big as 25k to put down. If i look into purchasing lets say a 350k multi family home would that be enough for all costs? I know a first time homebuyer can possibly qualify for programs. Im head of household single making about 70k per year would i qualify? Now i mentioned 350k as an example but i have seen 250k homes that need renovations that i would not mind purchasing becuase i can fix it up myself. Need some opinions reddit open to everything. [link] [comments]  |
| [IL] My dream house went under contract Posted: 27 Oct 2018 05:25 PM PDT I'm in the beginning stages of purchasing my first home. I am meeting with a lender and plan on starting touring houses shortly thereafter. Last weekend, a PERFECT house went on the market. Completely and utterly my dream. But I didn't want to tour it before I spoke to a lender because I didn't want to waste anyone's time. Unfortunately, the house went under contract Thursday. The current owner says he is still accepting offers, however. Should I, once I get my financing in order, still ask to see the place and make an offer, regardless of pending offer? Or should I move on and try to find something I love just as much? Tell me reddit, is there hope? [link] [comments]  |
| Posted: 27 Oct 2018 01:32 PM PDT If I'm in the wrong place, please let me know and I'll remove my post. I'm looking for a few extra opinions on this. I'm looking to tidy up a few things before possibly listing my house next year and I can't decide if seeing these areas unpainted would be a turn off for potential buyers. I could ask a local agent but I figured I'd go somewhere with multiple opinions first. If I paint these areas, I'd paint the entire garage to match. Since this is the garage and not the living room, is something like this easily accepted? Also, no worries, the gross carpet will be replaced either way. The house is a 3 bed 1.5 bath and has a potential value ~85 to 95k in Arkansas. [link] [comments]  |
| Posted: 27 Oct 2018 05:04 AM PDT |
| Posted: 27 Oct 2018 11:18 AM PDT Hello RealEstate community. I'm new to the subreddit and looking to purchase my first property by the end of next year. I'm looking at purchasing a quadplex (or something similar). As you can tell, I have no knowledge about real estate so I was hoping for some guidance. What are things I should study before making my first purchase. Any forums, videos, articles, etc is greatly appreciated. If you need any other information feel free to comment or dm me. Thank you in advance! [link] [comments]  |
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