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    Sunday, December 2, 2018

    Suicide in Garage Real Estate

    Suicide in Garage Real Estate


    Suicide in Garage

    Posted: 01 Dec 2018 01:10 PM PST

    Looking to purchase a property in which the owner commuted suicide in the garage. The garage itself is detached from the home and is in disrepair and will be demolished. I am curious if the garage is taken down, do I have to disclose to future purchases or renters that there was a death on the property. It is located in Manitoba, Canada.

    submitted by /u/BlackCarrott
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    Is a management company required to honor advertised set prices?

    Posted: 01 Dec 2018 09:26 AM PST

    My wife and I found an apartment that we love, and the price was great. The apartment management company lists on their website available units, availability date, and the set price (not a range of prices). We filled out their "Save this Quote" form which said it will lock that price for you.

    When we went to take a tour and all, the prices they were quoting us were $150+ above what is being advertised. The assistant manager said she would not honor their online prices. I feel like the online prices are just bait to pull people in and then try to push them into the higher prices.

    • Is their any legal or real estate restrictions that prevent this kind of thing?

    • Can a real estate agent or property company advertise what they want and then not honor it?

    Is a Grey Star community.

    submitted by /u/Khan_Genghis
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    Should I max out my 401k contribution with the intention of borrowing from it for investments?

    Posted: 01 Dec 2018 12:58 PM PST

    I've been struggling with this question for a few weeks. And I am wondering if anyone has experience with this strategy. Below are some of the pros and cons I have identified.

    PROS - Pre tax savings = basically an instant 25ish% bump in your investment fund. (Up to your yearly contribution limit of course) - It's fast - the money can be in my account in less than a week

    CONS - Payback - obviously you eventually have to pay it all back (plus interest) into your 401k.. essentially locking away all that money until retirement... Unless you withdraw early. - Can't take multiple loans at once - you must pay back a previous loan in full before you can pull out another one.

    Also, I know the current market is trending bear. I would wait to implement this strategy until the market is once again healthy and "stable".

    submitted by /u/torzitron
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    Signed a contract subject to finance - valuation came back significantly lower - should I renegotiate?

    Posted: 02 Dec 2018 01:05 AM PST

    I bought a house for $550k which I thought was fair value compared to similar houses that I'd seen listed in the same area.

    The problem is the valuation came back at $520k which means my loan-value-ratio (LVR) is higher which in turn increases the amount of loan mortgage insurance (LMI) I'm required to pay from about $7k to $15k.

    So my question... is it reasonable for me to renegotiate the purchase price based on the fact that I may actually be overpaying and my loan amount and repayments will be higher as a result? Or would that be considered poor practice and if I want to proceed with the purchase I should simply honour the agreed price and accept the higher cost?

    submitted by /u/Stolen-Identity
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    Finding meetups that aren't based on selling you stuff

    Posted: 01 Dec 2018 02:15 PM PST

    Just attended my third meetup in Chicago this morning and lo and behold, the guy spent 75 percent of the time pitching his mentorship program. Is this what I should be expecting from meetups, or am I just looking in the wrong places? How did you guys get mentors/advice without having to pay for it? Or is that to be expected as well?

    submitted by /u/qwerty622
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    What's the etiquette for working (or not) with a buyer's agent? [First time buyer, TX metro]

    Posted: 01 Dec 2018 06:35 PM PST

    I'm looking to buy on a relatively short time frame because the relatives who own my current house need to sell. I'm married, but my husband's credit score and debt ratio are abysmal (long story), so I'd be the sole purchaser. My credit is mid-700s, with stable and decent income, but high student loan debt.

    Ideally we would wait another year and get his credit cleaned up so we could apply jointly. Since time is not on our side, I've been informally working with a buyer's agent and his mortgage broker, who I first met through an informational seminar (free, no pressure, just a "we exist and would like to be your team" kind of deal). All of our interaction since that seminar has been via phone or email. The broker has run my credit and given a ballpark price point, but I'm not officially pre-approved. The agent has not shown us any houses yet, although we've been trying to plan showings. I have not signed any type of agreement or contract with them.

    The problem is that, at my price point, there isn't much in the area that we (agent and I) seem to agree on. I'm fine with an older place that needs cosmetic work (in fact, I prefer it to the current "flipping" trends infecting my city), but although I've told him that from the start, he still seems to want me to steer clear of those. I can't tell whether he doesn't trust that I can do a salable job on the renovation (I can!), or just isn't confident about the neighborhoods I'm looking at. I'm not opposed to a newer condo, but the HOA fees are unreal in this area, and I'd rather spend that money on my own four walls than "exterior maintenance" and outdoor parking in Hell's Greatest Competition: Texas in July.

    After going back and forth on what listings I want to view, the agent texted me today to say that they really think we should try to get my husband on the application, because the houses I'm selecting just don't seem good to them. I understand what they're saying, but my husband's credit is seriously terrible, like low 500s. It's just not gonna happen. I truly cannot figure out whether the guys are trying to protect me from a bad investment, or just don't trust that I am capable of buying a good house and improving it effectively. They are professionals and I trust that they know the market, but I don't know if they really "get" me and what I want, even though I have told them.

    Does this sound like a situation that can turn out well? How would that go -- what do I need to do differently here? If not, what would be the etiquette on backing out of working with them? They have done some work on my behalf, and I initiated the relationship in good faith, but I'm not sure it's going to pan out.

    Do I owe them some form of compensation? Is it incredibly bad real estate karma to walk away now? I want to do right by these guys since I don't think they're incompetent or dishonest, but I also don't want to end up in a house that makes me depressed.

    submitted by /u/SnittingNexttoBorpo
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    How do you know if the seller has real offers?

    Posted: 01 Dec 2018 10:55 AM PST

    Hi My wife and I are really interested in a great two bed condo.

    The place is a brand new gut renovation.

    The property has been on Zillow for 170 days with price cuts from $850k down to $699. Most recent cut was end of October. It was over priced at $850.

    We are dealing with the same agent as the seller. The seller is a property developer that also owns the broker agency. So he employs the broker we are dealing with.

    We put in an offer of $645 that was rejected.

    A couple of days later the broker is telling us the seller has an offer of $675k.

    But we see that there is another open house this weekend.

    Are we being lied to in the hope that we put in a higher offer?

    It does seem a little strange that two offers come in after 170 days of nothing. And that dispute having an offer of $675 for a week, they are doing another open house.

    We want the place, but don't wanna feel we are pushing up the price and bidding against a non existing bidder.

    Thanks

    submitted by /u/gaffs82
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    Looking into buying property

    Posted: 01 Dec 2018 10:16 PM PST

    My friends and I (3 of us all together) are looking into buying a foreclosed home <$20k and working on it (painting, flooring, etc) just to rent it out. Any information or tips you can give for first time buyers/landlords?

    submitted by /u/jdaddy111
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    What is more desirable? A 3 BR 2 Bath or a 4 BR 1 Bath home?

    Posted: 01 Dec 2018 08:32 PM PST

    I am currently living with my significant other in a small 1100 square foot ranch home in northern NJ that we own.

    It is a 4 bedroom 1 bath currently, each bedroom is only about 10x10 and the bathroom is tiny. We are using one bedroom as an office, one as a dining room, and one as a guest room (no kids yet).

    The single bathroom proves to be a problem so I was considering the option of turning knocking down some walls and turning one of the bedrooms (the office) into a master bathroom / walk-in closet while making the bedroom a little bigger.

    We are planning to only live here another 3-4 years so I was wondering how this change would affect the property value. My plan was to hold on to the house as a rental property so I wasn't sure which was more appealing (4br 1ba, or 3br 2ba with a master suite)?

    submitted by /u/PlsLearnMeStuff
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    What did you find was the best way to pass your RE exam?

    Posted: 01 Dec 2018 07:59 PM PST

    I am in CA and my exam is coming up. I want to know what d is you recommend for passing the first time?

    submitted by /u/yopeee
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    Question about tenanted multi-family home

    Posted: 01 Dec 2018 07:56 AM PST

    I'm looking at purchasing a multi family home in Brantford, Ontario that currently has 2 tenants who are month to month. According to the listing the tenants would like to stay- which I can understand-but, if I were to purchase, I have different ideas.

    If I were to purchase this I would live in one and I would like to have a family member live in the other.

    So my questions are ; 1. Are there any laws or rules that would prevent me from "evicting" the current tenants who are month to month (not on lease)?

    1. Has anyone had experience in a similar situation; how did it pan out?

    I hope I have provided enough information and I look forward to hearing from you smart people!

    submitted by /u/LongLimbedLad
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    Learn about canadian real estate policies and regulations?

    Posted: 01 Dec 2018 07:28 PM PST

    Hi everyone, I am reaching out to this subreddit to help direct me to some resources in my journey to learn more about the canadian real estate market. I recently sold my first apartment and purchased my first home with the help of a real estate agent and had to pay some significant commission for the sale of my previous property. I am hoping to learn some more about how to buy/sell property so the next time around I can buy/sell without the assistance of an agent. I recognize real estate agents have access to benefits such as comparables but would still like to make my own attempt when I decide to move again.

    More specifically, I am looking to learn about how the processes behind buying/selling (e.g. creating contracts, general guidelines for setting conditions) as well as any policies, regulations, and laws related to real estate. I am fairly new at this so I am looking for beginner resources but am also looking to expand my knowledge base as I go. I reside in Ontario so anything resources for this province would be ideal.

    Thank you all in advance for your help!

    submitted by /u/Les_Habitants912
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    Should I go forward with a Strategic Default?

    Posted: 01 Dec 2018 07:26 PM PST

    I'm looking for advice on what my options are with getting out of my home mortgage.

    I am sure I am upside down on my mortgage. The house is half demo'ed because I planned on remodeling, so it is not move-in-ready, nor do I have the $ to finish the remodeling anymore. Also, I have since committed to moving out of state (USA, IL to FL) to care for my elderly father.

    I haven't called my mortgage company to discuss options with them yet because I wanted to educate myself a little first. I have a decent background in Google on the topic but am still a little morally torn and confused as to how much legal trouble I might be causing myself. My credit isn't great now, so I'm not losing sleep over all that. I just don't want to be threatened with jail time because I'm committing some type of fraud.

    submitted by /u/udontnomeneway
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    What is the Real estate commission if landlord finds tenant

    Posted: 01 Dec 2018 03:19 PM PST

    We have a real estate agent to help lease our house. She has been trying to lease it for over four months now. We were upset that the property wasn't leasing so we asked her to post an ad on Craigslist. She said she can't post ads on Craigslist or have her number on it. So we posted it ourselves and showed the property ourselves. We found a tenant and I was wondering if we had to pay her full commissions since we found the tenant outside mls.

    submitted by /u/Suitclean213
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    Downloading MLS data for NC to Excel

    Posted: 01 Dec 2018 08:22 AM PST

    I googled this topic hoping to find a service I can pay for to download MLS data for NC for homes recently sold and/or for sale based on zip code. For obvious reasons: It's easier to filter listings in Excel or Tableau to narrow down your search and do comparisons.

    Couldn't find anything. Any advice or feedback would be greatly appreciated.

    submitted by /u/zizu666
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    [MN] MLS Data Access - Sharing and Data Mining

    Posted: 01 Dec 2018 02:42 PM PST

    What stops realtors from sharing their MLS access and/or setting up a script to pull/extract the data?

    For example, couldn't I just pay a realtor $20 to use his/her MLS access for a few months. Anything stopping this from happening?

    submitted by /u/MNCPA
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    Rent to own question

    Posted: 01 Dec 2018 07:57 AM PST

    Hi everyone,

    I'm looking to rent in Arizona. I found this listing that I like, but I'm having a hard time figuring this out:

    Public Remarks: LEASE WITH OPTION TO PURCHASE! (only) IF YOU NEED TIME TO QUALIFY, THIS HOME IS FOR YOU! REMODELED 3BR 2 BATH HOME WITH NICE PLANK STYLE TILE. GRANITE, NEW STAINLESS STEEL APPLIANCES, NEUTRAL COLORS, GRASSY BACKYARD WITH COVERED PATIO AND STORAGE SHED. AND THE BEST PART.......NO HOA! $200 PER MONTH CREDITED TOWARD THE PURCHASE OF THE HOME ---JUST $7500 DOWN! QUICK POSSESSION AVAILABLE! ***NO STRAIGHT LEASE,,, LEASE OPTION ONLY***

    I honestly don't have the best work history, I'm getting a divorce after being a Stay-at-home-dad for the last few years, but this looks like a good option if I didn't want to rent in the long term? My question would be if I end up not wanting to buy it, would I get that $7500 back? This property is $2-300 dollars a month cheaper than comparables in the area.

    Thanks!

    submitted by /u/steve626
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    Deceptive & Incorrect Square/Footage (CHICAGO, IL)

    Posted: 01 Dec 2018 05:15 PM PST

    Does anyone local to IL know what happens when a seller's agent wrongfully posts the sq/ft area of a unit to MSL? Aside from leaving the deal what kind of recourse can we take?

    We just got the appraisal back and are seeing a huge gap BELOW our offer price. The minimum difference we are seeing from the appraisal is between 300-600 sq for a 2bdrm condo. The secondary issue up for debate here is ~300 sq upstairs of a loft/attic style room, which our low appraisal refused to include.

    We want to peruse this to the fullest and lower the price. Seller is unwilling.

    Thanks!!

    submitted by /u/badluckwind13
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    What caused you to lose your earnest money?

    Posted: 01 Dec 2018 12:51 PM PST

    Have you ever lost your earnest money? Or have you been on the other side? What's your story?

    submitted by /u/alexsangria
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    What are your favorite data sources?

    Posted: 01 Dec 2018 10:01 AM PST

    Hi, I am looking for sources where I can download real-estate data for batch analysis myself.

    I am looking for both historical and current data. I am in US. I understand that MLS is a protected data-source, but is there anything similar, maybe less up-to-date or less complete, but available via APIs or downloads?

    submitted by /u/gizcard
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    CA-Is it ok to reach out/text/call a listing agent about their listing over the weekend?

    Posted: 01 Dec 2018 11:43 AM PST

    The house was recently reduced by 40%, so I'm assuming they are wanting a bidding war to get the house sold ASAP. I'm not represented but wanted to reach out to the agent to see the house and place an offer.

    I called yesterday, left a message and he hasn't responded. I want to let him know I'm serious about this house. Should I reach out over the weekend or wait until Monday? I'm sure he's getting a ton of calls and inquiries. What's the best way for me to strategize?

    Not sure if this is pertinent, but some FYI: This house for him is a "little" house to sell. His other listings on his professional website are houses that are anywhere from 3mm to 10+mm. This house is a sub 1mm home.

    submitted by /u/currently_distracted
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    Auctioned house bought and friend can't get the appraisal done because of seller

    Posted: 01 Dec 2018 11:22 AM PST

    Friend of mine recently won the bid for a home at auction. This home was an AS IS situation so there is no contingency period. For his loan the bank is of course requiring an appraisal which can't be done because the seller will not allow the utilities to be turned on so the appraiser can run his necessary tests to approve the loan. He is in quite the catch 22 situation and any advice here would be much appreciated. Let me know if any of you guys or gals need any additional info. He's a good dude and sounds like he could lose his $7,000 deposit if he can't close on time. Thanks in advance for the help.

    submitted by /u/Anonymous121512
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    19yo first time renter - tips / advice please

    Posted: 30 Nov 2018 10:26 PM PST

    Hello, I'm 19 years old and planning on moving out of home and into a rental property soon and I would very much appreciate some advice. Here is my current status:

    • $30000 saved up in the bank

    • I've got some items ready to go like cutlery, dishes, microwave, toaster, etc.

    • I earn approximately $1472 a month for a 40 hour work week although note I often work more than 40 hours (I work for a family business so I'm not being paid the usual amount)

    • I have no car or debts

    • I work from home so no travel expenses

    • I'm pretty good with saving and budgeting, I've already done the maths and I can afford a rental property at $250 a week with monthly expenses like food, groceries, phone bill, internet, etc.

    • I'm not sure if I will be able to provide references

    • I currently pay about $200 per month in board to live at home

    • it will just be myself and my dog

    I guess I'd just like to know if I am missing anything? Is there anything I haven't considered? Renting in Brisbane QLD if that helps. Thank you very much for taking the time to comment.

    submitted by /u/princesspeach1999
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