Owners of an empty lot in my town is four years behind on property taxes. Real Estate |
- Owners of an empty lot in my town is four years behind on property taxes.
- Buying my first home and the HVAC inspector told me yesterday the unit needs replacing. My realtor is pushing me to ignore his advice and sign off on the report today to close. What should I do?
- [NYC] Is it worth it to buy a Co-Op in my situation (Need opinions/thoughts)
- California: Commercial Landlord's Right to Evict and Tenants's right to stay
- Do I still need a job after my first house?
- Okay REAl estate
- Is it normal to be putting down a deposit prior to writing a contract?
- (USA) anyone here a real estate agent that does rentals in a community where source of income is a protected trait?
- Smoke penetrating through shared wall
- Is buying a 1 bed/1 bath condo in a hot market a bad idea?
- "Adjustments for items unpaid by seller" - County Taxes
- Advice Needed- First Time Homebuyer Northern Virginia
- Could I get a loan by using my property as collateral
- What is wrong with the Stone Veneer?
- Nervous about FHA appraisal/inspection
- co-ownership or down payment assistance?
- Where to go for records on construction claims?
- In Philly, questions about what is customary during buying
- (WA)SFH zoned as condo
- PMI or wait for stock market recovery?
- Should I stay with my current agent?
- Is Pennsylvania "Landlord Friendly"?
- real estsate question
- Question about low appraisals
| Owners of an empty lot in my town is four years behind on property taxes. Posted: 29 Dec 2018 06:29 PM PST Pierce county, Washington. [link] [comments]  |
| Posted: 29 Dec 2018 07:26 AM PST As the title says, the HVAC inspector told me the unit should be replaced as it's original to the home so it's 14 years old (end of its life expectancy), has a coolant leak, and uses R22 refrigerant that won't be available starting in 2020. He said in the report that the evaporator coil and the capacitor both need replacing, which will cost $2000ish on its own, but an entire new 2.5 ton unit will only cost around $4000. I told my realtor (who has been awful up to this point) that I'd like to get a second opinion, and she told me I don't have time and this inspector was just trying to sell me a new unit and I have to decide today. Closing date isn't even until Feb 1st and the home hasn't even been appraised yet. I just feel very rushed and that my realtor doesn't respect my opinion. What should I do? Is it reasonable to tell the seller I'd like to seek out a second opinion on the HVAC? [link] [comments]  |
| [NYC] Is it worth it to buy a Co-Op in my situation (Need opinions/thoughts) Posted: 29 Dec 2018 10:56 PM PST I'm planning on staying in NYC for the foreseeable future as my family has roots in NYC, and I've grown up here all my life. I've gotten a government job offer which stations me in NYC and been thinking about how I should go about settling down by myself (living alone) properly. I can live with my parents for a few years to save up a significant amount of my down payment (while also taking care of them), but after doing research in NYC, it's pretty rough taking on a HUGE mortgage (2k+) even putting down six digit downpayments. Therefore I shifted my eyes to Co-ops. I don't really care too much about Co-op restrictions such as flip taxes (if applicable), intense screening process (I'm clean), nor slow appreciation. That being said, some of these Co-ops allow subleasing (eg: 1 year) after owner occupied residency for let's say about 2 years. Then I just continuously renew the lease for my tenants. Is subleasing as simple and straight forward as this? My plan is to pay off the entire mortgage as soon as possible, while taking a 15 year mortgage and making extra principal pay downs. My current planned timeline is to live with parents for 2 years or so, so the pay increase is 2 years in, hustle and overtime as much as possible (I can grind, I have no life), and then after I buy a home in my 3rd year, I can start making very aggressive principal downpayments my 4th+ year when I start hitting top pay. In short, I want to have my Co-op paid off, and then look at my current situation whether I want to sell (for whatever reason that may come up in the future), or simply rent it out to tenants as per "subleasing", assuming it works the same as leasing it to another person/renting it out to another person). Then I can use the rental income to possibly live in a cheaper location while saving the majority of my income from my job, or simply live in my mortgage free home, save aggressively a few years to have another downpayment, and at this point hopefully be in a position to buy a condo, (or sell my coop and use the proceeds as a fat downpayment, and repeat the process of paying off the mortgage again, same concept, bigger numbers). I am pretty conservative and these are the choices that I would be ok with accepting. I am not a very ambitious person in real estate as many would try to be due to various reasons, but at the same time, I wouldn't pass up on an opportunity if available. [link] [comments]  |
| California: Commercial Landlord's Right to Evict and Tenants's right to stay Posted: 29 Dec 2018 02:05 PM PST Hi there, So my mom is in a situation where she purchased a restaurant early this year and recently the building got sold to someone and now she has a new landlord. Since the takeover my mom has been facing some issues with the landlord and the followings are the issues she has been facing. It is a restaurant standalone building and 5 years lease contract signed, never once was late on rent payment and the restaurant revenue is great.
I don't know much of real estate law and I am not in a position to step in to handle the issue myself especially not knowing exactly what rights both party has for this case. I personally don't think that this landlord does not have the right to start the eviction for reasons above and I believe the landlord is taking advantage of my mom. However, I don't know any legal aspects of this situation so I can be totally wrong too.. I greatly appreciate your help in advance, [link] [comments]  |
| Do I still need a job after my first house? Posted: 29 Dec 2018 07:13 PM PST I want to be an artist, but I'm also interested in investing in real estate. What I had plan was getting a job and still be selling my art on the side, so I could get a mortgage. But after my first house, my first mortgage, do I still need a job? Because after my first house I can use my HELOC to get some money to get another mortgage, to get another house, but I'm afraid that the bank won't give me the second mortgage if I no longer have a job. [link] [comments]  |
| Posted: 29 Dec 2018 04:48 PM PST So, I had a cash offer guy bid on my old home. Well they bid 25,000. I am selling it for 65,000. It was built around 1919 so you could imagine that repairs that are needed. What do I do? Sell for cash or wait? [link] [comments]  |
| Is it normal to be putting down a deposit prior to writing a contract? Posted: 29 Dec 2018 03:12 PM PST Hi r/realestate, My wife and I are interested in purchasing a house in Orlando. We have decided on building something through pulte. They are asking that we put down a 20k deposit before they can write the contract. The realtor we're using says it sounds strange and she hasn't heard of that requirement from other builders. Pulte is saying that after we get a lawyer to review the contract, if there is an issue and we decide not to go ahead we will get our deposit back. Except they aren't giving us anything to sign/guarantee/proof that we will get this money back. I feel uncomfortable wiring such a large amount of money with no proof that we will get it back. We have reviewed a sample contract and it looks ok. I don't think there will be an issue causing us to back out. Has anyone built through pulte and can tell me that I am just being paranoid and that this is normal? Our realtor spoke with pulte and the agent says that she'll speak with her manager and try to make us an exception. I hate to be nitpicky, but speaking with the realtor this doesn't seem to be the norm and "giving us an exception" seems a little offensive. [link] [comments]  |
| Posted: 29 Dec 2018 04:43 PM PST Looking for other agents in places where source of income is a protected class. Need help going through a negotiation where the prospective tenant uses housing vouchers, but landlord is not ok with vouchers. [link] [comments]  |
| Smoke penetrating through shared wall Posted: 29 Dec 2018 10:31 AM PST Hi r/RealEstate hoping you can help. We moved into a semi detached home a few years ago. Last year the tenants next door moved out and the owner's daughter and her family moved back in. They smoke. Moreover, we can smell the smoke behind the baseboards, gaps around the stairs, pretty much throughout the gaps on the shared wall. It's even coming through the walls and into the back of our dresser - my wife's clothes smell like smoke! We have spoken to them in the past with no avail, insulated as much as we can, but it's still intruding on our quality of life. Is there any recourse or anything you can suggest? Thanks so much. [link] [comments]  |
| Is buying a 1 bed/1 bath condo in a hot market a bad idea? Posted: 29 Dec 2018 08:30 AM PST Hey r/RealEstate, Question for those of you who are MUCH more experienced than me - are condo's generally a bad investment in a hot market? I'm thinking about Denver. We'd be looking to move sometime in between Fall - Winter 2019, and I could see us living here for a few years at least. Here are my situation details: - 26 y/o male, a couple years out of college. I currently work as a Product Manager for a Building Materials distributor (since May 2018), and I worked as a Sales/Marketing rep prior (Oct. 2017 - May 2018). Income right now is about $53k, and I will have in the range of ~$25k for a downpayment (plus about $8k for an emergency fund). No other notable savings. I'm pretty confident I could find a job fairly easily, either as a PM or in Marketing or Sales. - Would be living w/GF of 2 years. She would contribute to mortgage. She would be fresh out of college with a Psych degree (not planning to work in Psych thought), so her earning potential would likely be in the ~$30-$35k range. She has about 1.5 years of experience working in a bank (years of waitress experience prior to that) so she won't be totally unskilled in terms of resume. - We want Denver because of the weather/outdoor activity + somewhat of a bigger city vibe. Public transport is very ideal, as we'd like to only keep 1 car and either bike/rail to work as often as possible. Born & raised in the Northeast (MA), we both want a change of pace and higher quality of "fun" (hiking, rock climbing, mountain biking, etc.). - We can always move back home if needed, as my GF has a 2-family on 3-acres in her name that we only pay property tax on (paid off). It's her father's home, and he lives/will continue to live here. I know what a condo entails, and while I'm not about HOA fees, I think it's all I can afford to even touch Denver. We don't mind close living quarters or shared walls, and we'd ideally like to be within 20-30 minutes of a commute to the city (at most). Can I touch this, or should I keep saving until I can afford a single family house? Would buying property in Denver right now even be a good idea? Sorry if that turned into too much of a personal detail post, but I wanted to make sure the information needed was covered. Thank you for any feedback, thoughts or advice you can give me! I appreciate it. [link] [comments]  |
| "Adjustments for items unpaid by seller" - County Taxes Posted: 29 Dec 2018 03:05 PM PST Hello /r/RealEstate I closed on a house in August, and noticed in looking at the paperwork that there wasn't an adjustment for property taxes from the seller. Does that mean that I'll be on the hook for the full year's worth of taxes to be paid from my escrow account? If not, how would his 8 months of taxes have been paid for? I'm still new to understanding homeownership and these kinds of transactions. Just trying to understand how this works [link] [comments]  |
| Advice Needed- First Time Homebuyer Northern Virginia Posted: 29 Dec 2018 02:33 PM PST I am looking to buy a home for the first time in Northern Virginia. Does anyone have any recommendations for buyer agents/lenders or any advice in general? Looking to buy a condo or townhome for up to 350k (with a 20% downpayment). Preferably a 2bed/2ba within the beltway (Falls Church/McLean/Alexandria West/ perhaps Arlington) but would be open to Oakton, Fairfax, eastern Vienna and West Falls Church. [link] [comments]  |
| Could I get a loan by using my property as collateral Posted: 29 Dec 2018 12:13 PM PST I have land worth 2.5 mil usd and I'm looking to secure a loan for a new business venture. I don't really know the process, I don't think I qualify for loans that are around 1.5-2 million dollars unless I use my land as collateral. Does anyone know if this is possible, and if so what's the process? [link] [comments]  |
| What is wrong with the Stone Veneer? Posted: 29 Dec 2018 02:24 PM PST Hello All, We are in the process of buying a new construction house. It was built earlier this year. Below are the pics of stone veneer outside. This does not look right to us, some even has hole in them but the builder's construction manager says it is normal. https://imgur.com/gallery/rixrSsQ
All help is appreciated. Thanks, Ash [link] [comments]  |
| Nervous about FHA appraisal/inspection Posted: 29 Dec 2018 12:02 PM PST Hi! I am under contract to buy an awesome house built in 1979. Had home inspection and now waiting for FHA appraisal/inspection . The home inspection had no major call outs, but it was after a heavy rain and he lifted the crawl space vapor barrier he said it was "damp" in the corner. No mold, rotting, or pests found. No settling of foundation. No pooling water. Reading about FHA inspections has me freaked out. I'm getting an amazing deal on this place and I can't risk them denying the loan because of a damp crawlspace. How damp is too damp when it comes to these things? I know the appraiser won't be as detailed as the home inspector was, but I also know he or she will check the crawlspace. Thanks for sharing any advice/experiences. [link] [comments]  |
| co-ownership or down payment assistance? Posted: 29 Dec 2018 02:11 PM PST I was talking to a friend of a friend of mine, who said they purchased a home with an agreement in place with a client who is interested in living in and eventually owning the home. The friend said they purchased the home, made the down payment or something like that, and the tenant start living in it and paying. I remember this friend saying "the person couldn't afford the down payment" and they said "they were helping them to own the home". At a certain point, maybe after the down payment got paid off (I can't remember what the friend said exactly), the ownership was transferred to the tenant (or maybe the tenant had ownership in the first place?). The friend said they got a pretty decent pay off from doing this, and they continue to do this for other properties and it is a nice form of passive income for her. The friend said she can't just do this for any property, it is only for certain types of properties and certain types of clients. I apologize if my story was extremely vague, but can anyone enlighten me as to what this friend is doing exactly? I would try to get in contact with this friend of a friend again to ask more details, but thought I'd just ask here first. Is this some kind of co-ownership or joint ownership of a property, or maybe down payment assistance? Thank you. [link] [comments]  |
| Where to go for records on construction claims? Posted: 29 Dec 2018 11:45 AM PST I'm reviewing some documents that the seller's agent sent me about the status of a particular home I'm in the middle of purchasing. One of the things that was mentioned was a construction claim against the developer of the community in '95. However, the seller mentioned that she received a notice that no repairs or defects were required for her home and the claim was settled. I'm trying to find out more information about this but it seems quite difficult as there's no paperwork that the seller was able to provide. I did reach out to the HOA but they took over the community in '08 and weren't told anything about it and I reached out the the city's building and permit department who I'm waiting a response from. Any other recommendations? [link] [comments]  |
| In Philly, questions about what is customary during buying Posted: 29 Dec 2018 10:53 AM PST It's been a few years since I bought a house. Just wondering what's customary here. I was asked a few questions by my agent after we looked at a house a couple times- we're probably going to put in an offer. House has been on the market for over 100 days. We asked her if anybody else is looking at it she said the agent didn't mention anything. Also said the sellers were really happy to have somebody looking at it. I text her last night say I want to put in an offer. All of a sudden today "we're expecting another offer this afternoon." I suppose it could be true but my BS meter is pegging. Whatever, I won't let it influence my offer. Then she asks me, "well I know that's what you want to offer but how high are you really willing to go?" I tell her not much off of what I told you- pretty much what my offer says. Then she says she needs me to fill out a form with all my financial information to be included with the offer. I tell her "all they need to know is if I can qualify for a mortgage." Am I out of my mind here? I have provided a prequal letter from a bank. Why does she need to know how high I'm willing to go? Why does anybody need to know my financial info- isn't that between me and my bank? Doesn't that undermine my leverage? The contract will say it's contingent on me qualifying for a mortgage; so the financial aspect is covered, no? Just wondering what's normal in this situation, some of this seems weird. [link] [comments]  |
| Posted: 29 Dec 2018 10:38 AM PST This is in the Seattle area. My wife and I are first time home buyers and we want to put an offer on a house. The house is free standing with no shared walls. It's part of a newer development in the middle of an older neighborhood. Because of local zoning laws requiring a minimum size lot for SFH, the development was zoned as a condo. The house has been on the market since September and our realtor speculates that the reason is because it was over priced (listed 20% $/sqft higher than neighborhood) and that it's technically a condo. We're also balking a little because it's been on the market for so long, but my intuition is that it's driven by the fact it's over priced and not because of it being a condo. My question is, how much impact does it being a condo affect resale? [link] [comments]  |
| PMI or wait for stock market recovery? Posted: 29 Dec 2018 02:15 PM PST First time home buyer here. I'm looking to buy a house asap. I was planning on paying the 20% down to avoid PMI by selling mostly technology stocks. I'm now reconsidering this as the tech stock prices have dropped quite a bit in the last month. Would it be better to pay PMI until the stocks recover, then sell and pay off PMI? Or is the increase from PMI not worth it? Is there some way to spreadsheet out how I should make this decision? More info if it helps: Home price: ~500k Location: Seattle 30 year fixed with PMI rate: 4.3% Down payment: 100k of beaten up tech stocks [link] [comments]  |
| Should I stay with my current agent? Posted: 29 Dec 2018 12:34 PM PST Hi people of Reddit, I'm currently wondering whether to cancel the exclusive buyers agreement with my agent. Here is why, I went to the inspection of a house, the inspector found out that the septic is failing, now the septic is the original one +-50 years old. I did a little reading and found out that septic systems last around 30 years, so the septic was obviously past it's date. My concern is that my agent didn't mention any of that, so I think there are two options he either didn't care and just wanted to get the commission or he didn't notice which is equally concerning. A friend of mine also recommended to get the septic flushed by the seller before moving, unfortunately I had already made an offer, I think a good agent might have added that in a contract by himself, but I'd like to get your opinion. Thanks! [link] [comments]  |
| Is Pennsylvania "Landlord Friendly"? Posted: 29 Dec 2018 09:53 AM PST First time posting on reddit. Question says it all. Thanks [link] [comments]  |
| Posted: 29 Dec 2018 12:27 PM PST what are the biggest factors when determining a properties value. [link] [comments]  |
| Posted: 29 Dec 2018 08:20 AM PST Hello. Our (sellers) appraisal for our current home came in lower by 7000 dollars. Buyer called and said his mortgage company suggested they call us to renegotiate down to appraisal price. I know I have the option to walk away, or just go with the appraisal price. But is there room for negotiation? Will their lender allow them to do that even if the buyers make up the difference in cash? [link] [comments]  |
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