Real Estate Agent listed my house w/o clearing the asking price. Real Estate |
- Real Estate Agent listed my house w/o clearing the asking price.
- [WA] Odd offer letter out of the blue, offering almost 16x the value of one of my lots. Why?
- Is OpenDoor usually this hard to deal with?
- How can I help market my parents house they have on the market?
- OpenListing - What Level of Service to Expect?
- Buyer has flaked on me and someone else wants to buy home.
- Sold price online is less than what I paid, misleading?
- First time home buyer questions
- Advice for new loan originator job
- Would buying a piece of cheap, very rural land for camping affect my eligibility for First-Time Homebuyer credit, or eligibility for any other benefit?
- Best websites for house hunting
- An ‘insulting’ offer
- Management Company for Long-Distance Investing
- Closing date set back. Grrrr
- Home not selling in desirable location (GA)
- Is a short sale an option if I have to bring money to closing?
- Girlfriend and I are buying our first home together. My credit is okay, her's is excellent. Lender suggests she obtain the loan completely in her name, thoughts?
- Good idea to build a small temporary house to get income to hold land for retirement?
- What's next after Pre-Approval Letter?
- Fannie Mae declares support for DACA mortgage borrowers
- Selling Rental Property do's and don'ts??
- Looking for advice on 10/1 ARM (NY)
- will they consider my current house into account when deciding whether to approve my mortgage for buying a new house?
| Real Estate Agent listed my house w/o clearing the asking price. Posted: 26 Mar 2019 10:40 AM PDT Hi All! PA here. First time selling a house, so I have already made some dumb mistakes, but I am most livid about the following: When I first met with my agent, she told us we could get 220 with the house as is, or 240 with it completely emptied & professionally cleaned. Within the month, everything was moved out & cleaned, photos look great, but she put the house up on MLS for 220 without clearing that price with myself or my ex-husband. Fun (Dumb) facts: when signing off on the paperwork, the listing price was left blank & she told me "we can discuss later". Honestly, 220 is the floor w/o seller assist or any additional allotments—if she had consulted us, it would have been 225-235 to provide some wiggle room. We have a conference call with her later today to get the full details. My question: is this standard practice? Listing the house without getting the ok from the seller? What are my options here—do I just hope that people come in over asking? [link] [comments]  |
| [WA] Odd offer letter out of the blue, offering almost 16x the value of one of my lots. Why? Posted: 26 Mar 2019 02:32 PM PDT Location Clallam County Washington I own two lots side by side (see pic https://i.imgur.com/9qsehj8.png). The blue lot has all my structures on it, the orange lot was originally bought from a neighbor, in an attempt to deter the country from extending a road through it. I bought them together, paying $1 for the orange lot. It has an appraised value of around $1000. Value to me is $0, it is actually a pain in the butt to remember to pay the $12/yr taxes on it. It is NOT wide enough to legally put anything on it, not even a shed. There wouldn't be enough space between the structure and the property lines. I can not think of a reason to own this property. Total size of the orange lot is .12 acre. We are in a rural area, there are no houses immediately next to it. The neighbors don't want the land. Under it is water pipes that dead end (From our water coop), on top is a few young trees, and a power pole. Along side is my apiary (bee farm). Today I got a letter from a legitimate company (I researched it), they are offering round $16,000 for it. I can't for the life of me figure out why anyone would want this lot, especially to the point of paying so much more than it is worth. Any ideas here? [link] [comments]  |
| Is OpenDoor usually this hard to deal with? Posted: 26 Mar 2019 08:01 PM PDT I'm trying to purchase this townhome from Opendoor but it's about 11k more than comparables in the complex. So I put in my offer and they completely destroyed me. They say no to everything. Not paying any closing costs. Not paying towards home warranty. Not accepting under asking price. It's almost like a joke. Is Opendoor usually like this to home buyers? I would be broke if I am to pay all closing costs. I countered, but I wouldn't be surprised if they dont budge. It's a corporation and not a home owner anyway... [link] [comments]  |
| How can I help market my parents house they have on the market? Posted: 26 Mar 2019 11:03 PM PDT Parents live in a super cool town perfect for retirees and coastal living. it really has a lot to offer and people are finding their way there. but the market seems slow - the house has been on the market for 2 yrs. its a custom built home on a private lot with a dock on a creek which opens out to a bay. A lot of the retirees in the town are transplants from the northeast and new england. should I be marketing the house up there? Ideas I had: website for the property, ads in select newspapers, facebook page Any thoughts much appreciated! [link] [comments]  |
| OpenListing - What Level of Service to Expect? Posted: 26 Mar 2019 07:06 PM PDT Has anyone who has used openlistings.com let me know what level of service you got during the offer process? I initially wanted to go with them because based on my past experiences with real estate agents, I did a lot of locating and touring properties myself. I only really needed help throughout the offer process but now, I'm really reconsidering going with a traditional agent. During my offer process, I felt like the openlistings agent has been - Not super responsive (wouldn't respond after 5pm and got replies sporadically after 10am) - Didn't give great comps (Every time I got a comp analysis from them, I had to point out why the listings they chose didn't make complete sense) - Didn't give a lot of recommendations until I kept asking for their opinion (on contingencies, offer, etc) -Generally doesn't give guidance unless I specifically ask a question - Doesn't communicate with all parties involved in the offer (past agents have communicated directly with my lender to get commitment with them on close timelines or to revise pre-approvals to meet the offer terms). My OL agent expects me to do this myself - Won't allow me access to off-market listings (these are reserved for her full-service clients) Is this experience typical of Openlistings or did I just get a subpar agent? [link] [comments]  |
| Buyer has flaked on me and someone else wants to buy home. Posted: 26 Mar 2019 07:00 PM PDT I've sold a lot of homes FSBO and never had any issues, but I've come across a buyer that has either gotten cold feet or doesn't have the money to pay his closing costs. I went under contract with him and he has been approved (stated by loan officer over the phone) for the mortgage. However one day he calls me stating he doesn't have the funds to cover all his closing costs and wants me to amend the contract and give him a concession. I stated that I will not amend the contract and since he was approved for the mortgage he had to show proof to the lender that he had the funds to cover his closing costs. He basically stated he wants out of the contract, but now I can't get ahold of him whatsoever. I've left emails, texts, and voicemails but he's simply avoiding me now. The title company is holding his deposit, but I don't know how to get out of the contract since he will not respond to me whatsoever. The closing is scheduled for about one week from now and an appraisal has never been performed. Will the contract be canceled as soon as the closing date passes? I know some of you are going to tell me I need a real estate lawyer and I understand that. I figured I should just start here to figure out how I should go by tackling this and possibly finding ways to bypass a release being signed since the buyer will not get in touch with me. Below is a link of the contract I used. Everything is standard. I only did a 10 day inspection window and he declined to get the inspection. [link] [comments]  |
| Sold price online is less than what I paid, misleading? Posted: 26 Mar 2019 05:44 PM PDT I paid 575k for a home a few months ago. Curiously I looked up the listing online and there's a nice big 'SOLD' banner, with the sell price of $550k. This seems a bit misleading. Is there a reason why the true sell price would be intentionally obfuscated? Do agents want people to think the house was cheaper than it really was? I'm not sure what to make of it... [link] [comments]  |
| First time home buyer questions Posted: 26 Mar 2019 02:30 PM PDT Hey, I'm not sure if this would be the most appropriate subreddit for this, but we've got our first house under contract, which is very exciting. We're not in the greatest shape credit wise and are wanting to put down as little as possible on the house because we're in a hot market and want to just bounce off this home onto the next after our equity goes up. At any rate, we've spoken with a local mortgage lender and Quicken. We really like the people we've dealt with locally, they're great, they've been responsive throughout the whole process. Where they've called and reassured us throughout the process that they'd take care of us etc, but their loan quote was about a point higher in interest than Quickens. Conversely, though, the experience I've had with Quicken has felt very pushy. Our closing date is next month and we just got a quote today, it is significantly better in terms of interest rate ofc, but we'd also be bringing more out of pocket besides the down payment. We told Quicken we wanted to sleep on it, but they're being pushy and telling us it's black/white either their deal is better or the local folks are better, and it makes me slightly uncomfortable. (Yes, I'm aware that we're slightly strapped for time) So the question is, should we pick our lender based upon simply what they bring to the table or how the process has been or a combination of both of those things? [link] [comments]  |
| Advice for new loan originator job Posted: 26 Mar 2019 06:47 PM PDT I just got approved for a job as a loan processor. I don't have a license but I will be studying and taking the NMLS test soon. I sell off market properties as a side gig and want to pursue a career in mortgage lending for two reasons, it's an industry that's is always employing (I live in chicago) and it would facilitate the selling of my properties, either by my ability to approve them for loans or through the network of people I hope to acquire. Half the people interested ask if I have an option to finance as I have only been selling them to people that have the full amount. The owner of the branch also sells off market property, he saw that I have some real estate experience and that I have a large network of people looking for a house (he says they are warm leads and the company does not provide leads, we have to acquire our own) all reasons he decided to give me a shot. The job is commission only (W2) and I get no hourly since I am not required to come to the office. Benefits include health, dental and 401k and says he would pay 1.25% of loan amount. I am brand new to the industry, I have only worked in sales, do these terms seem right? Just looking for general advice from those with experience. Also recommendations for books or programs to study for the test would be appreciated. [link] [comments]  |
| Posted: 26 Mar 2019 05:23 AM PDT Hi r/RealEstate, quick question for you all: My spouse and I are currently looking to buy property in our home state (Vermont) to build a house on. Haven't found anything yet. However, I am on the verge of making an offer on a very cheap, very primitive piece of land out in Nevada, just to have for the future (camping trips, whatever). The land is totally off-grid, and the asking price is around $2,000. I like it though. Only thing is, my spouse is concerned that it might affect our eligibility for First-Time Homebuyer credit or any other benefits offered to first-time homebuyers. I've done my research, and it appears that it would not, but I'm wondering if anyone here has a different opinion, or can think of any cause for concern. Seems silly that a piece of land I have no intention of ever living on would affect us, but I can't help but be nervous. Thanks! [link] [comments]  |
| Best websites for house hunting Posted: 26 Mar 2019 11:33 PM PDT Could you guys tell me the best sites to house hunt? I'm in the SoCal Region and am Looking for housing for places in Victorville, San Bernadino, and Riverside. [link] [comments]  |
| Posted: 26 Mar 2019 06:50 PM PDT My husband and I recently placed an offer for our dream home a week ago for 375k.. the asking price for this home was 429k. We did a ton of research with our realtor and reviewed many comps that have sold in our area that are similar to this home and they all have ranged between 325-400k. We really think we had given the sellers a fair price, yet their realtor said they were insulted by our offer and only countered with 420k. We really think this is our forever home but think it's ridiculous the sellers aren't meeting us halfway. From what our realtor has told us after conversations with the sellers' realtor, she didn't even set the price of the home and rather had the sellers set the price. Has anyone been in a similar situation when placing an offer on a home and how did you get the seller to see that their house isn't 'worth' what they are asking for? [link] [comments]  |
| Management Company for Long-Distance Investing Posted: 26 Mar 2019 06:30 PM PDT How much would it cost p/m for a management company to manage one of my rentals? Can you guys give me a rough estimate, doesn't have to be spot-on. [link] [comments]  |
| Posted: 26 Mar 2019 08:19 PM PDT We were all set to close on the sale of our house in one day. Today we find out that the closing date is set back a full week. Our buyer bought herself a new car last week and dramatically changed her debt to income ratio and her lender just caught it. Now we wait to see if she can get approved for an FHA as opposed to the conventional she was previously approved for. [link] [comments]  |
| Home not selling in desirable location (GA) Posted: 26 Mar 2019 03:47 PM PDT We've owned our first home for five years and purchased it with the knowledge that it likely wouldn't be our "forever home". We recently purchased our second home and have struggled for almost 4 months to sell the first. Seeking advice from you all. THE GOOD: The house is on a third of an acre, nice size for the neighborhood (most are ~1100-1400 sq ft, this one is 1800), 3 br 2 ba, VERY convenient for schools, interstates, local businesses, 3 miles to major local university/federal agencies which employ many in the neighborhood. Updated kitchen, granite counters, relatively neutral colors, fenced yard, very quiet street, and not a flood plain. Recently rezoned for an even better school. We only want to sell it b/c we'd rather lower our other mortgage and not be landlords by renting this one out. THE BAD: the layout is wonky. Part of it was added on before our ownership, and it features an 11" step down from 3 separate rooms to enter that area. That step down always bugged me... apparently it bugs others, too. So does the detached garage. Apparently it also lacks curb appeal (all things we've heard recently from would-be buyers). THE UGLY: we've dropped the price $15k total. Originally listed for $400k. Have an agent - a friend who also represented us as we bought each of our homes. We feel like he's not motivated. Doesn't keep us updated every week. Sometimes it is difficult to reach him. We have kids - we understand to a point. He's a friend, but we now wonder if we made a mistake. We want to sell this house, but he always has an excuse for why we're still on the market. We ask for advice, feedback, what we need to do. We feel that we do everything asked of us. Plant more flowers to increase curb appeal? Ok. Keep your furniture there to stage it? Ok (but after 2 months we emptied it out to finally live in our new home). Drop the price? ....ok.... Drop it again? ....... We don't know what we're doing wrong. He assured us that the larger square footage would work in our favor and that little things don't matter. Until they do, and then he tells us to do x or drop the price by y. We comply but feel resentful and confused. We were under contract once. They backed out (and we've addressed the 3 things they cited). Several others have narrowed it down to us vs. one other home - and gone with the other. Usually it is more expensive, smaller, renovated yes (sometimes badly), on a worse street. So, I guess I'm asking for feedback, suggestions on strategy, your expertise since this is our first experience as sellers, and your thoughts. I appreciate anything you can suggest, and thanks for reading! [link] [comments]  |
| Is a short sale an option if I have to bring money to closing? Posted: 26 Mar 2019 11:45 AM PDT I am (hopefully) listing my house in a few weeks. An agent mentioned going the short sale route. I currently owe $108,500, and the value of my house is about $115,000. We can list at $119,900 but most likely won't get a full price offer. Because of the fees (realtor commission, taxes, and seller fees), I am looking at bringing around $1,900 to the table if I have a full price offer and don't pay buyer closing costs. At this point I need to sell because I am house poor and can barely afford to get by each month. If I sell my house and then rent I can easily save $1,000/month. My question is would a short sale be something I can do if I am not in default on my mortgage. I understand that my credit will be effected if I can do a short sale. I am in Illinois (not Chicago or suburbs) if that helps. [link] [comments]  |
| Posted: 26 Mar 2019 07:10 PM PDT Hello kind internet strangers. Here's a rough outline that the lender has provided to me after a hard credit pull, in their words: "A 30 year fixed rate based on 672 score (my score) is 4.99%. Based on a 755 score (her score), the rate is 4.375%. On a 300,000 this is a difference of $110/month. Mortgage insurance is also impacted. A score of 755 would be $150 less per month for mortgage insurance on a loan with 10% down. In total the rate and MI difference is $260/month. I think that is something to consider. In addition, this would leave the first time buyer option open for you to use when you buy a home the second time around." Thanks for any insight and just for reference, we will be getting engaged at some point this year, but will most likely be getting the pre approval and loan process done well before then. We are both in our late 20's. I do feel a little bummed that this is even the case as I wish my credit were better. I plan to split the mortgage costs and put money into the down payment and closing costs. Any suggestions? Much appreciated! [link] [comments]  |
| Good idea to build a small temporary house to get income to hold land for retirement? Posted: 26 Mar 2019 03:19 PM PDT I'm in Houston to provide some reference looking at some vacant lots where there are no zoning laws or deed restrictions. I could really see myself living here when I retire in 15 years. I'm thinking of purchasing a lot and just sticking a small house on it (800 sq ft). This would be in a neighborhood full of +2,000 sq foot houses. Yes it would look weird being small compared to the big houses but I don't want to build a house now and have it be 15 years old by the time I want to live in it. I just want something that can make some money while holding the land. Also I can't afford to build a huge house the way I want it right now. I feel like I can add to the house when I decide to remodel. I can hang sheetrock and do my own painting so I'd be saving some money when building the small house. My wife thinks no one will rent it but it's in a popular area so I think I can find someone who doesn't want to share a wall with their neighbor. Plus the tenant can have a big dog with a big backyard which many places won't rent to. If I can keep it rented for 15 years I can pay off the small house and most if not all of the land. I just want to hold the land for when I retire and I'm worried the value may go up and outside of my price range. [link] [comments]  |
| What's next after Pre-Approval Letter? Posted: 26 Mar 2019 02:51 PM PDT May be house hunting,(FTHB),sooner than later as planned. I talked to a lender just to find out if i would get pre-approved and although not 100% complete, things are pointing in a positive direction. Anyways, is now the time i start looking for Real estate agent,should i go with an agent requested by CU lender? Should i be looking for a Real Estate lawyer also, and is this an out-of-pocket expense? I appreciate any input. [link] [comments]  |
| Fannie Mae declares support for DACA mortgage borrowers Posted: 26 Mar 2019 06:34 PM PDT Thought this was pretty interesting. —- While it appears that the Federal Housing Administration may not be backing mortgages for Deferred Action for Childhood Arrivals recipients, Fannie Mae declared recently that it supports (and will continue to support) mortgages for DACA recipients, also called Dreamers. https://www.housingwire.com/articles/48545-fannie-mae-declares-support-for-daca-mortgage-borrowers [link] [comments]  |
| Selling Rental Property do's and don'ts?? Posted: 26 Mar 2019 02:45 PM PDT We are preparing to sell our first home. We have been renting it out for three years as we purchased our second home. The first home is paid for but we have a "credit line" (second mortgage) on it. We have owned the home for over 25 years. We are both retired, I am disabled. Husband is 72 I am 57. Would you please advise what we should be cognizant of?? Thank you. [link] [comments]  |
| Looking for advice on 10/1 ARM (NY) Posted: 26 Mar 2019 09:23 AM PDT Always have been wary of ARM mortgage products but we were offered a 10/1 loan with 5% down, no closing costs and no PMI at 4.5%. Is this a good deal? It is our first home and we have no plans to move after a certain amount of time, but 10 years is a long time for this 29 year old! 30 year fixed would require us to bring much more to the table, pay closing costs (really high in NY) and have a higher interest rate. [link] [comments]  |
| Posted: 26 Mar 2019 02:06 PM PDT So I heard that mortgage doesn't get approved unless you pass the "2.5 ~ 3 times your annual income" rule. Let's say I make 20% downpayment for 1M house. 800k mortgage is too high for my salary to get approved but what if I plan to sell a 500k house to pay 500k out of 800k? Will they take that into account even if my salary isnt high enough for 800k mortgage? [link] [comments]  |
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