Sellers are stalkers? Real Estate |
- Sellers are stalkers?
- Need advice how to deal with two tenants that allegedly tried to drug my girlfriend
- Question about my landlord
- Capital gains tax
- Not really renting now, but would like to ask about renting a place when I move out?
- Numbers for FSBO?
- Do properties have book values?
- Which is better, $350k home, or $200k home that needs $50-100k in renovations
- [NYC] Speculating on two properties, advice needed
- Real estate agent says we can't speak with tenants.
- First time home buyer looking to purchase a home co-owned by older half-brothers.
- Our realtor is pushing us hard to make a lot of concessions to sell our old townhouse - is she on the level? (VA)
- House near (not in) flood zone AE.
- Using an LLC to continue to buy lucrative properties (NY)
- Will my locked in mortgage rate automatically adjust lower with the market?
- My loan was just sold and the new servicing company has HORRIBLE reviews. What are my options?
- The home I’m buying had an underground oil tank remediation performed
- First time home buying and issues with the inspection.. help?
- I really need some advice - Plumbing Issue with impatient tenant.
- What fees to charge tenants in South Florida
- How likely am I to be approved for a mortgage?
| Posted: 21 Nov 2018 05:52 PM PST We were in a contract to buy a home. Contingent upon VA financing. For various reasons it fell through. We changed it to contingent on FHA financing. This requires over 10k down. We were unable to receive the money as a gift from our parents. Therefore we couldn't do the fha. The sellers, since our realtor told their realtor, have : called our financing loan officer for half an hour demanding answers. Didn't like that they were told financing fell through and that we did exhaust all our options so they called the bank president. Who then called the loan officer and relayed to them the same thing. The seller , husband, did this. Then he added me on Facebook. (Didn't add my husband. Just me and I declined) he also has been messaging my real estate agent directly and blowing up her phone. Well, their real estate agent demanded proof. My loan officer requested that our loan denial letter be generated and handed over. They were given the news on Sunday. And are still calling as of yesterday the loan officer and bank. And trying to add me on Facebook today. What sucks even more is he's a police officer. So now I'm a little frightened. What other lengths are they going to go to? It's scary. What can they do? They of course won't release our earnest money until they get the letter. I find that reasonable but I'm afraid they're going to continue to pursue me, my family next or what have you. They said they already packed and bought new furniture. That isn't my fault, we did our best to the extent that was safe financially for our family. Can you give me any advice? My real estate agent is going to her agency owner and broker and telling him what's going on and to see if he will intervene in this. They're demanding we refinance our cars, take out our retirement. Why would we ever do that to go into more debt? Can they demand that? Your help and advice is seriously appreciated. They've managed to ruin Thanksgiving. [link] [comments]  |
| Need advice how to deal with two tenants that allegedly tried to drug my girlfriend Posted: 21 Nov 2018 09:56 AM PST So we just had a major hurricane blow through my town and it left a lot of people homeless, but my house fared ok. I'm currently deployed while all this happened so my girlfriend, who was staying with her mom while I was gone, offered to come down and stay to make sure nobody broke in and looted or vandalized it. Since a lot of people are homeless and struggling, we consider renting out a spare bedroom to try to help somebody out. Before long we find a young couple that seem like nice people and my girlfriend really likes them so we let them stay. They pay their $500 first month's up front on November 2. I tell them I'll get them a rental agreement printed up I just never get around to it with everything going on with the hurricane. I end up taking some emergency leave from my deployment to go fix the house, and literally the day after I leave home to fly back overseas, I get a message from the tenants saying that my girlfriend was having seizures and possibly overdosed on her pain meds and is in the hospital. So she finally messages me herself and swears up and down she was drugged. Apparently the cops came and talked to the tenants and no charges were filed and I'm still trying to get a copy of the report as we speak. So now it's looking like I'm gonna have to evict someone after just 19 days and there's no rental agreement to speak of. To top it off I'm 7,000 miles away. I'm just trying to figure out the truth before trying to evict someone onto the street but the girlfriend is losing her mind over this and wants them gone. It just strikes me as so insane because they really seemed like good people up until this random accusation. How should I go about evicting them and what steps should I take to make sure they don't trash the place when I tell them? I already told her to be present when they leave with a cop and probably get a restraining order against them if it comes to that. I just need advice I feel like my hands are tied being this far away. [link] [comments]  |
| Posted: 21 Nov 2018 08:04 AM PST Hello so I just signed a lease on a house, sent it back to the Landlord signed and paid him the deposit through Paypal. He told me he was taking it off the market now and that he would see me when I get there (Another state) he marked the house sold on Trulia yesterday and now today it's back on the market and says NEW posting for rent!! What is this about? This guy isn't trying to scam me is he?? Thanks *Edit- he literally just signed the lease and sent it back to me. Does this mean I'm for sure in the clear? [link] [comments]  |
| Posted: 21 Nov 2018 11:37 PM PST I know there's an explanatory post about this but i need someone to dumb it down for me. We've owned and lived in our home for over 3 years. We're selling and will pocket about 30k. We are renting for the time being and not reinvesting into real estate. Will this greatly affect our taxes? [link] [comments]  |
| Not really renting now, but would like to ask about renting a place when I move out? Posted: 21 Nov 2018 09:23 PM PST Hello, I'm planning to move out of my house after I get a full-time job in my field and have a question as I have never rented a place to live by myself before. Let's say I sign a year long lease for renting apartment, and I decide to move in like 10/25; so I guess I should write in the first rent check as 10/25 ~ 11/25? Then for the next month's check do I just write 11/26~12/26? Am I just overthinking these? [link] [comments]  |
| Posted: 21 Nov 2018 01:36 PM PST How many homes are sold by their owners? [link] [comments]  |
| Do properties have book values? Posted: 21 Nov 2018 10:08 AM PST I'm not trying to time the market or find the right "formula", I'm not even looking to buy a home soon. I'm simply trying to gain an understanding of the relationships between home value, prices, and the economy. Whenever I read about recessions, corrections, or slow downs, there's inherently always discussion about the prices of homes and the what they're value is X months later. My question is simple. Are there economic measures that, when compared to a home's "initial" value, can show what the home is actually worth? Maybe I'm thinking about it too much, but don't properties have book values? [link] [comments]  |
| Which is better, $350k home, or $200k home that needs $50-100k in renovations Posted: 21 Nov 2018 06:29 PM PST Lots of details here that are hard to type out, but we're looking at a home that needs some renovations. It's an older home, and the necessary/inspector type renovations are looking to be around $35k. It has no Central air so down the road i want to add mini splits, and I would like to partially finish the basement into a theater room. I'm guessing it'll be $50-100k over the next few years. Would we be better off getting a house that is maybe more expensive, probably less amenities, but newer with the finished basement and ac? I mean this more from a money standpoint. Our monthly income is fairly decent, but the down payments are the though part. Just trying to look at our options [link] [comments]  |
| [NYC] Speculating on two properties, advice needed Posted: 21 Nov 2018 02:37 PM PST I'm in the market to buy and trying to decide between two properties on the LES that I'll be occupying and would appreciate advice. #1 is in the Seward Park Coop (https://www.sewardparkcoop.com/) and features a large terrace. It will probably close around 900K #2 is in the East River Coop (http://coopvillage.coop/eastRiver/), and has a small balcony. It will probably close at 550K. Both are about the same size and have low monthly fees. I'm trying to speculate on the value of these in 5-6 years, which is how long I estimate living there. What's holding me back from pulling the trigger on #2 is that it's a 15 minute walk to the subway and not really "near anything". Minimal bars/restaurants nearby and that's unlikely to change much. There are currently several units from ERCoop on the market and the market seems sluggish. 1 is much closer to bars/restaurants/LES nightlife. It's right near a new Trader Joe's, Target and movie theater. However at 900K, I'm not sure how much growth is possible for 1950s era (read: not luxury) unit. Units at SPCoop seem to turn around relatively quickly. So that's my pickle. I would appreciate any insight. Thank you. [link] [comments]  |
| Real estate agent says we can't speak with tenants. Posted: 21 Nov 2018 11:19 AM PST I was looking into purchasing a commercial property and when I spoke with the real estate agent it became apparent that I was not allowed to speak with the current tenants, to ensure that they were going to stay for the duration of the contract. I can't think of any plausible reason why the estate agent wouldn't want me to talk with the tenants. Does anyone with more experience have any ideas? Edit: As it turned out the estate agent was a real a** and hung the phone up on me twice for asking basic questions, and has refused to show me the property before I put an offer in. Thanks so much for all the answers. It seems like: 1. Putting in an offer is a fair request. 2. The sellers estate agent can request that I don't talk to the tenants. 3. I can still always pull out the offer if something is off during due diligence. [link] [comments]  |
| First time home buyer looking to purchase a home co-owned by older half-brothers. Posted: 21 Nov 2018 05:03 PM PST I say half-brothers because their father has passed and left them two homes. One was sold when it happened several years ago. One brother has been living in the house for 5+ years. He doesn't pay rent to my other brother. The house is not in good shape. Neither is the relationship any of my family members have with the brother who is in the house. None of us know how to approach him, he probably would be difficult. I'm trying to advocate for the brother who has no use of the house. He is alright with the house going to my hands. How can he bring the property to sale? I'm qualified and want to buy the home including a rehab in the financing. I have a lender and a realtor to work with. They are actually my aunt and uncle. None of us know how to approach [link] [comments]  |
| Posted: 21 Nov 2018 09:23 AM PST I'm trying to sell a 30+ year old townhouse that we've put about $50k worth of upgrades and repairs into since moving in a decade ago. Since engaging with our realtor, she has asked us to make many unanticipated improvements and upgrades (totaling around $20k) to the point where we will barely break even. This has been a very frustrating experience. We were lucky enough to get a contract at asking price after being on the market for four days. Young couple, not a lot of money, first home, etc. Closing is right before the New Year. Now the buyer is asking for $12k(!) in concessions to repair an outlet, fix some shower piping, repair a tile, etc. etc. etc. and largest of all replace the main water supply line. Our realtor suggests that we give them $5k and a warranty on the supply line. Our realtor cautions us that, if we don't take the deal and lose our contract, our house will be "tainted" on the market and we'll have a very difficult time selling in the winter. Should we take the deal, or hold off for an easier sale? Is our realtor just trying to get one last closing before the end of the year? [link] [comments]  |
| House near (not in) flood zone AE. Posted: 21 Nov 2018 08:58 AM PST After two years of looking, my husband and I found a house that we both love and want to buy. I was 100% ready to make an offer until I started researching flood maps. So the house is located across the street from a medium/large retention pond (that is lovely) and surrounding trees. Behind the retention pond, there is undeveloped land and a lake. The city is currently developing that land into a park that will be finished next year. When I look at the current flood map, zone AE comes up to just behind the retention pond. The preliminary maps that go into effect next year show zone AE recessing very slightly, but there is a new zone called X - Area of Special Consideration that goes a little more than halfway into the retention pond. Would buying this house be a bad decision? We have been quoted $460/yr for flood insurance and the house is priced well. It is slightly elevated, but not dramatically. I need to make an offer soon because there are others interested, but I don't want to make a terrible mistake. Please help. [link] [comments]  |
| Using an LLC to continue to buy lucrative properties (NY) Posted: 21 Nov 2018 08:18 AM PST Hello all, long story short, the cost of living in upstate NY is ridiculously low, and I have been able to find some good deals, and I wish to continue my system on a good day-job income. I am considering using an LLC to accomplish this and I have some questions. Background: I purchased a HUD foreclosure home with an FHA Loan for $72k in 2017 (I believe I need to own it for 2 years). It needed outside paint, inside paint, some flooring and some minor repairs. But I busted my ass and I had it reappraised for $143k in about 3 months for some quick equity, and secured a $30k HELOC. I currently occupy it and rent the rooms to some buddies. In September 2018 I closed on a foreclosure in one of the best school districts in the state on auction for $123k. It needed outside paint, inside paint, wall repair, bathrooms remodeled, a new deck and all new flooring, but I am all in, including closing costs for around $150k. I am busting my ass, and finishing up and recently had it appraised at $260k, and secured a $30k HELOC on it (I do however believe the actual market value to be nearer to $220k, no idea what the appraiser was doing). I will be renting this out, or may try to summer-only AirBnB it (remains to be seen, but will be a rental property). I wish to form an LLC and transfer the titles to it. And buy a third property. So far, all lien-holders seem to be amicable with this. I will iron it out for sure when it's time to pull the trigger. So far, I am finding this much more lucrative than the return on my 401k... My question is, what is stopping me from once a year or so making a purchase like this with my person, and then transferring the title to the LLC ad infinitum, allowing my person to look like it has no mortgages,? Am I missing something besides the title transfer tax which is negligible? I'm not avoiding any taxes, I am simply making my person have a lower monthly debt load in order to secure more mortgages. What am I missing? Does the LLC need to show income in order to have a title transferred to it? None of the lien holders have mentioned it so far, but we know how that goes. Thanks so much! [link] [comments]  |
| Will my locked in mortgage rate automatically adjust lower with the market? Posted: 21 Nov 2018 07:30 PM PST Im in the process of buying a home and we locked in our rate a couple weeks ago but havent closed on the house. I saw today that the rates dropped to what they were about a month ago. Would my rate automatically adjust or can I request it gets reevaluated to match the lower percentage rate? [link] [comments]  |
| My loan was just sold and the new servicing company has HORRIBLE reviews. What are my options? Posted: 21 Nov 2018 03:19 PM PST I just bought my first home as new construction from DR Horton using their lender for closing credits. I knew I would be sold at some point but I assumed it would be to a large lender like BOA or WF. I made my first payment last month to DHI Mortgage and this month I received the letter that I've been sold to Lakeview Loan Servicing. Google results and customer reviews are terrible. More than one customer are saying they will refi at a higher rate just to be out from under Lakeview. Others note falsely reported late payments. Several are claiming they have reported to BBB. What are my options? Is it early enough to call my current lender and complain? If it matters: FHA 4.75 30year fixed. If I've made some mistakes here please be polite when making me aware. Thanks. [link] [comments]  |
| The home I’m buying had an underground oil tank remediation performed Posted: 21 Nov 2018 11:27 AM PST I recently pulled a permit report on a home that I submitted an offer on. Enclosed in those records was a document from the State of NJ Dept of Environmental Protection: Unregulated heating oil tank program. The document mentions that the EPA determines that "no further action is necessary for remediation of the area of concern" which is the property. It also notes that it's a "covenant not to sue". What does this all mean? Would any tank removal regardless of leak have had remediation or only if there was a problem? Can I expect that the issue has been resolved completely if this document exists? I just don't want to put myself or family in danger or legal issues down the road. [link] [comments]  |
| First time home buying and issues with the inspection.. help? Posted: 21 Nov 2018 11:05 AM PST So I was approved for a VA loan, and we have taken all steps necessary to where we are inspecting the home and if all went then we would work on closing soon. However the agent called me today with some short results and overview of the inspection and I wanted to get some advice. Issues mentioned: - Termites were present (no info on damage if anything) - leak in the roof but the roof has been working on in the past ~2 years - valve on the water heating going up (?) - Tiles need to be re-grouted - and a few other minor issues. Overall not too bad, except for the Termites and the roof leak. The VA loan requires us to get a termite inspection report but at what point should we walk away? I know the presence of Termites isn't necessarily a HUGE issue, it's dependent on the damage caused and with the seller being an very elderly woman, I doubt it was taken care of. We were originally scheduled to close on Dec 4th. We were paying $1,500 out of the $4,500 in closing costs. Should we ask the seller to pay all closing costs and lower the cost depending on the damage? We are lost right now since we've never done this process before. *What should we do? Any help is appreciated!! * [link] [comments]  |
| I really need some advice - Plumbing Issue with impatient tenant. Posted: 21 Nov 2018 04:07 PM PST I've had a tenant for 16 months, decent tenant(a bit annoying) but shes paid her rent on time every month.($500 a month, rural area and its a duplex). There was a plumbing problem and I tried snaking it and swapping out toilets on Day 1 and couldn't unclog it. My snake stopped at a certain point so I knew there was something serious blocking it and it wasn't the tenants fault most likely. So, I put the toilet back and told her you can use the toilet if its an EMERGENCY just don't flush it. I come back the next morning at 9am and the toilet is full of poop. She told me she used the bathroom last night and in the morning and that also her daughter used it....I was in shock. I went to get my tools came back assuming she was cleaning the toilet...nope. So I had to get a garden trowel and manually scoop her shit out the toilet and put it in a bucket to remove the toilet... absolutely disgusting. I replaced the floor so she can at least shower now. Went outside and dug by myself for 6hrs straight with a pickaxe and shovel and found the problem...Clay pipe, filled with roots. Simple fix, but slightly time consuming at least 3 days but I can easily do it. I need to fix 1 underground clay pipe so right now my tenant doesn't have a toilet. She was very upset about the news threatened to call the cops, withhold rent and told me i should pay for her and her daughters hotel (her daughter isnt even on the lease)...I told her i can easily fix the issue in 2-3 days after thanksgiving but she just went berserk. She wants me to call a plumbing company and come out tomorrow ON THANKSGIVING to fix this issue in hopefully 1 day.I called and they quoted me $700..I can do it myself for less than 100 bucks in a couple days. I feel like she is being a bit unreasonable and at this point I honestly want to evict her because she has 2 extra people living there and she is just so disrespectful to me for absolutely no reason. I've never disrespected her (shes a woman, i dont disrespect females) but shes just rude. She actually threatened to withhold rent and then told me to pay for her hotel for 3 days after she cussed me out she said "lets make a deal, pay my hotel for me and my daughter and i wont call the cops and get the city involved"....Just very very rude. Any advice on this? I apologize for this being extremely long but this is my first roadblock as a landlord and I really need some advice. [link] [comments]  |
| What fees to charge tenants in South Florida Posted: 21 Nov 2018 09:08 AM PST I am looking into renting our home out. We are relocating to another state and need advice on what to charge tenants. I have recently been booking Airbnb rooms and came across their charge breakdown. I must say I like it: room charge, service fee ( for Airbnb), clean up fee etc. I am leaving our house in pristine condition, 100% fully renovated house: walls were painted 4 years ago but will have a crew come over and fix any damages, cleaning crew will also come after we empty the house. I want to charge them the same it costed me when they leave to take it over in the same pristine condition. On this note I want to be fair to us and to new tenants. I read that it is common to charge the tenants the realtor fee in some regions. I do not agree with a full month's rent as realtor fee. Even though they put the paperwork together, post the listing and do background/ credit checks, I don't think it's worth that much. People in other fields work a full month ( 160h ) for that kind of money. I am willing to pay realtor fees of 1/2 month's rent. I am not looking to make money off the tenants other than the monthly rent. I just want them to cover any costs inquired in completing the transaction as every other service in the world expects you to pay. This is what I am thinking about charging: 1 month upfront, refundable 1m deposit pending on major damages, non refundable service fee ( small fixes, paint, plus cleaning crew total under $500 ), and 1/2m rent for realtor fee. Do you think this is reasonable? [link] [comments]  |
| How likely am I to be approved for a mortgage? Posted: 20 Nov 2018 08:07 PM PST I am a single male, 32,000 yearly income, been at my job for a year now, 598 FICO score, 2 bad things on credit report, 600 dollars for DISH Network and 398 for ATT both are in collections. 210 car payment and 300 dollars a month in personal loans. The personal loans will be paid off soon though. I own a house and land valued at approximately 50,000 USD. I saw a house a few towns over I'd love to have that is priced at 75,000 USD. I've never bought a house and am new to this. I have been using the same bank since I was 16. Any advice on how to go about trying to buy the new house? [link] [comments]  |
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