Is there a national database in the USA that contains all kinds of information about properties, like who's the owner and things like that? (BR) Real Estate |
- Is there a national database in the USA that contains all kinds of information about properties, like who's the owner and things like that? (BR)
- My best friend from college is moving in with me this summer. We are looking at living in downtown okc. The rent is looking to be ~1400/month for 2 bed. Should I consider buying a home instead near downtown for roughly 200k? I have enough for 20% down. The mortgage would be ~1100. Thank you
- Can my grandparents transfer their house to me?
- How much in rent do you need above your mortgage for it to be worthwhile?
- Thinking of buying a tiny (689 Sqft) wartime home in great location
- Are down payment assistance program difficult to qualify for? Can you qualify for more than one?
- Perhaps more of a philosophical question, but what if a neutral party conducted an inspection before the house was listed, and the report was provided to all buyers
- Put an offer on a home, next door neighbor is a multi-family home, wife freaking out
- Buying foreclosed vacant land?
- My lender wants me to refinance my loan? From ~1 year ago
- Turning primary residence into a rental and buying another one
- Toronto area investment property (Etobicoke or Whitby)
- All but approved for rental, but house still in escrow. What should I be aware of before signing a lease? [CA]
- I’m being evicted, I have 2 days before I’m kicked out, and then I am homeless with 2 kids.
- What's the best way to come up with a fair price for a home that my siblings and I have inherited?
- How many repair requests is too many?
- Buying a vacation/investment property with a family member. How should this be structured?
- Valuing a home that's back on the market after 3 years
- Are there agencies that help renters find homes? (Seattle)
- What happens after the pre-approval and the offer is accepted
- Question about joining another MLS.
- Final walk through question
- Closing on a home in a few days and have a couple questions. Can an underwriter help calm me down?
- [NC] Landlord withholding security deposit and claiming we didn't understand our verbal agreement
- Inflated market again?
| Posted: 14 Apr 2019 08:01 PM PDT I'm asking because I saw this video https://www.youtube.com/watch?v=XIKR4sp7NtI and I was wondering how does this application work. There must be some sort of national database, or else it would be really hard to make it work. [link] [comments]  |
| Posted: 14 Apr 2019 03:13 PM PDT |
| Can my grandparents transfer their house to me? Posted: 14 Apr 2019 11:43 AM PDT I've been paying my grandparents mortgage for nearly 5 years. They've told me I can have their house either a) when it's paid off or b) upon their passing. My grandfather passed away 6 months ago and so my wife and I are going to build a house that has an attached apartment so my grandma can live with us. We'd like either a) rent out my grandparents house or b) sell it, we haven't totally decided yet. Their mortgage has about $65,000 left on it. The home is valued at $180k. Can my grandma use a Quit Deed to transfer the property over to me or is there some other way to transfer it over to my name or do we gave to go through the whole sale process and refinance it into my name with another mortgage lender, which I'd like to have to avoid all of that because it can be costly. Thanks in advance. [link] [comments]  |
| How much in rent do you need above your mortgage for it to be worthwhile? Posted: 15 Apr 2019 04:12 AM PDT We're moving and hadn't seriously considered renting out our old house because rents around here seemed to be the same as our old mortgage or even a tad lower. But the model down the street from us just went up for rent and then a week later came came down. They were asking $250/month more than our current mortgage. That at least makes me consider it. How much do we need to be clearing to at least break even? We're going to need a roof and HVAC in the next five years, so cashflow-wise, even if we got to keep the entire $3000/year, it isn't break even for a long time. [link] [comments]  |
| Thinking of buying a tiny (689 Sqft) wartime home in great location Posted: 14 Apr 2019 06:40 PM PDT Hi everyone, I would really appreciate your opinions on this property and my situation. An old wartime home (built in 1941-1947) just popped up in a prime downtown location near me. The land assessment is 89% of the asking price which I thought was interesting. It's an old "half lot" (compared to all the other homes in the area) and has an identical home next to it with these two properties being the only ones similar in the area. The house is maintained, but not updated by any means. There is a new-ish roof as it seems, and updates including laundry room and hookups, electricity (not sure when installed), and new windows. It's looks rather "nice" inside, but I'd have to get a closer look to truthfully assess. The entire house is 689 Sq feet and has renters in it right now. I don't know much about it, but I can imagine the worst for electrical and insulation... However, the house is tiny, so I can imagine it wouldn't be that much work if it needed an overhaul. Some interesting aspects of the property is that it does not have an alleyway access which is unlike every other property in the neighborhood. This is strictly due to geographical reasons where the back of the property ends at a steep hill. I am sure this effects re-sell value considering there's no ally and no driveway (which is common in the neighborhood). I am at an interesting time in my life were I can just afford this place in about a month if it's still on the market. I would be interested in living in the house because it's within walking distance of the new long-term career I'm starting. Also, every house in the neighborhood is 3-4x the price with most being 20-40 years old. What red flags are some of you sniffing out in my plan? My common law partner is excited and would love to move in tomorrow and she is willing to dump a significant portion of her savings into a down payment with me (however I wouldn't be able to be approved for a mortgage for another month), but I'm continuing my research here and elsewhere before I pull the trigger. Would you run away or is this interesting? [link] [comments]  |
| Are down payment assistance program difficult to qualify for? Can you qualify for more than one? Posted: 14 Apr 2019 06:34 PM PDT I've read about that Wells Fargo court case where they have to reinvest millions into various cities across America. https://www.rollingstone.com/politics/politics-news/wells-fargos-master-spin-job-198789/ Doing some further research, I came across other down payment assistance programs (state specific) that go toward closing cost or the down payment, as well as mortgage credit certificate programs. Wells Fargo is also on the list of approved vendors for these as well. Questions: Can a person qualify for more than one of these type of programs and "group" the benefits together, or is that not allowed? Also, is qualifying for these programs difficult? [link] [comments]  |
| Posted: 14 Apr 2019 04:40 AM PDT I've been thinking about the inefficiency in the home buying process - that the buyer only learns the true state of the property after they place an offer. Seems this just needlessly extends the offer period and stress for both parties. If we had a neutral home inspection up front, then the offer price shouldn't change. I know a lot of REI people use the inspection to either lower the price or walk away, but I think this approach would serve both parties sans investors. [link] [comments]  |
| Put an offer on a home, next door neighbor is a multi-family home, wife freaking out Posted: 14 Apr 2019 08:07 AM PDT Placed an offer that was accepted on a very nice home. The next door neighbor is a multifamily home. My wife's now freaking out about it, especially since there's a police report for larceny/assault/B&E with intent from 2014, 2016, and 2017 from the people that live there, and she's thinking we should pull out and lose our escrow over it. How big of a deal is this? [link] [comments]  |
| Buying foreclosed vacant land? Posted: 14 Apr 2019 04:09 PM PDT Hey guys, I've noticed there are a lot of posts regarding foreclosed houses but couldn't find much about buying vacant lots. So here is my scenario, I have a family member looking to buy land to build a house in Austin, TX. The problem is most of the regular lots are going for like 200k(+) and tend to have completely dilapidated structures on them(which adds additional tear down/debris removal costs). Someone recommended we look at foreclosure auctions by the city and there seem to be some reasonably priced options there ( https://tax-office.traviscountytx.gov/foreclosure ), but not many. Then there are the "resale" properties, which is a much more extensive list. So here are my questions:
Thank you for your time and consideration. [link] [comments]  |
| My lender wants me to refinance my loan? From ~1 year ago Posted: 14 Apr 2019 07:52 PM PDT I've been trying to figure out how this will benefit the lender. I got a loan for 4.75% a year ago. He called me up and offered a refinance to 4%. This will save me a few hundred per month. No financial info or appraisal required, and he said I would need to pay very little to get it done. This lender is the original one I used to buy the house, it was never sold. I have about 7.5% equity in the house now. What's the catch? [link] [comments]  |
| Turning primary residence into a rental and buying another one Posted: 14 Apr 2019 10:47 AM PDT I tried my best to come up with a good title but I couldn't encompass the whole situation. Oh well. Here is the longer version. We are looking to buy a home this year but also want to start acquiring rental properties. After some discussions, we figured that we could purchase a condo (we want to live in a single family house ultimately), live in it for a year and then purchase a house. We live in a pretty hot rental market, mostly due to the fact that properties are expensive to buy. It would not be a problem finding tenants. For one, we have close relatives that are currently renting and would be more than willing to rent said condo. However, we have a few questions regarding financing. Assuming we purchase a $250k condo with 20% down, our monthly mortgage including P&I, HOA, taxes would come down to around $1,500/mo. Now, let's assume that one year later we sign a 12-month lease agreement with the new tenants for a monthly rent of $1,850 (current price for a condo like that). Would this allow the lender to consider the condo a rental that generates income and essentially pays the mortgage? Or would we need to qualify for both mortgage payments at the same time - the condo payment and the new house payment? I apologize if the wording is confusing. I hope I conveyed our plan clearly. I guess the main question is, when/how does a property that is rented out considered "self sufficient" in terms of paying the obligations related to it? Thank you. [link] [comments]  |
| Toronto area investment property (Etobicoke or Whitby) Posted: 14 Apr 2019 07:22 PM PDT I'm looking to invest in a property. Within my budget, I can afford a 500 sq ft 1 br condo in Etobicoke or a 1200 sq ft townhouse in Whitby. Both pre-construction and ready in 2021. Property taxes and maintenance fees are more or less equal. Depending on market. We may flip upon closure, but more likely scenario is to rent out for a few years. Difficult to say but I think I can ask for higher rent on the Etobicoke condo. If I were to sell, I'm not sure which one would ultimately sell for more. For background, I currently live in Etobicoke and am very familiar with the neighbourhood the condo is in. I'm not very familiar with Whitby though we've visited and felt it seemed like a nice community. Thoughts? Any input is appreciated Thanks [link] [comments]  |
| Posted: 14 Apr 2019 09:45 PM PDT Apologies if this is the wrong sub for rent-related questions. I'm not too sure where else to post for advice. My boyfriend and I found a great condo, did a walk-through, got our application approved, and are one step away from getting into lease negotiations. My only concern is that the condo is still in escrow. It's looking like everything should be finalized toward the end of April and the agent we've been talking to wants to set our move-in date for mid-May. I must give my current landlord 30 days notice, so I can either do that now and risk escrow falling through, or wait until everything is 100% finalized and have some overlap with my current rent and the new rent. My biggest concern at this point is putting in our 30-day notice and having the whole thing fall through. We can handle a bit of overlapping rent, but it's extremely difficult to find decent rentals here, so if this place doesn't work out, we likely won't be able to find something else in that short of notice. What would be our safest course of action here? Is this type of thing (buyer renting out the property before closing) fairly typical? Any red flags we should be on the lookout for? Any advice/insight would be greatly appreciated! [link] [comments]  |
| I’m being evicted, I have 2 days before I’m kicked out, and then I am homeless with 2 kids. Posted: 14 Apr 2019 01:11 PM PDT Hey reddit, so I am in a bit of pickle I currently lost my job due to a shutdown and my wife and I have 2 kids, we are young in our 20s and after losing my job we weren't able to pay rent and ended up getting an eviction notice, now here we are 2 days out and nowhere to go because no one rents a home to a family with an eviction notice and a credit history that has been damaged for a bad few months. We are about to be homeless in about 2 days. I don't know what do but to pray... any advice ? Thank you, it's my first time posting. EDIT: thank you all for the advice and support, we are packing our stuff as we speak. I truly hope this post can help others with a similar situation as mine and learn from my mistakes. [link] [comments]  |
| What's the best way to come up with a fair price for a home that my siblings and I have inherited? Posted: 14 Apr 2019 08:27 PM PDT My siblings and I have inherited a home. My sister and her husband want to buy the house for themselves which is fine, but I want to make sure that they pay a fair price for it. What would you suggest the process be so we can come up with the most fair price? [link] [comments]  |
| How many repair requests is too many? Posted: 14 Apr 2019 04:34 PM PDT We are working with a realtor and I do trust her experience but I'm also super nervous waiting to hear back from the sellers. We found a house we really like and our offer was accepted (finally, after three other attempts where our offer was no accepted. See my previous post where we had decided to give up and just rent). We got the inspection done with the inspector our realtor recommended. He was SUPER thorough! The house is 15 years old, so not super old but not new either and he did find some stuff he recommended we get taken care of but nothing he said he would kill the deal over and he felt overall it was a very nice house. We submitted a list of 8 things to the sellers along with the inspection report. We didn't ask for repairs for all the things identified since some of them were either not a big deal or things we could fix. But I'm just stressing hoping they don't see the list of 8 things and freak out or say no to everything. Here is what we listed:
Does this list sound unreasonable? We tried to be reasonable, knowing this is an older house but still I think it is fair to ask that we don't have leaking windows or windows that don't open. I'm going crazy waiting to hear back and technically on the contract they have 5 days to decide. [link] [comments]  |
| Buying a vacation/investment property with a family member. How should this be structured? Posted: 14 Apr 2019 10:55 AM PDT Okay, so a long time conversation between my father and I is actually being looked at seriously. We want to buy a lakehouse, and keep it in the family. He is ending his career, and I am in the prime of mine. Between the two of us, we can comfortably make a mortgage payment at a desired spot... He is going to live in the house full time, and we will be visiting on weekends and vacations. We have the same goal. To have a piece of property that we can use and keep in the family. We are both married, how do we protect this asset in the off chance one of us gets a divorce and the spouse sues? An LLC? INC? Trust? What do we do if one of us wants to back out of the property? Since in theory it's a 50/50 split on everything. This land is prime and I do expect offers on it based on it's location. What do we do in this case, when we don't agree? What do we do in case someone can't cover their part of the mortgage? Adjust the ownership split??? Basically, I just need some information about different title structures and how something like this is normally handled. [link] [comments]  |
| Valuing a home that's back on the market after 3 years Posted: 14 Apr 2019 06:26 PM PDT Hi all, looking at a home in our area (supposedly a seller's market) and listings typically close at less than list price. The home sold in 2015 for $192k, has only had a new kitchen floor, and new appliances installed. At this time, isn't reasonable for asking price to be almost $40k higher ($230k)? It needs some work, minor updates, windows and some soffet repairs we can see. [link] [comments]  |
| Are there agencies that help renters find homes? (Seattle) Posted: 14 Apr 2019 02:12 PM PDT I am a university student trying to find a good listing neat UW Seattle that can house 7+ people. I know an old friend of mine was a music major and he is currently renting a house with a bunch of other music majors. He was able to do that because one of the dudes moms was a real estate agent and knew the nearby market very well. Unfortunately no one in our group has that kind of connections so I was just wondering if any agencies/hire-able people exist that would be able to assist in finding a good rental listing that could work for our group. Am I looking for a real estate agent or someone else? Do real estate agents only help sellers? [link] [comments]  |
| What happens after the pre-approval and the offer is accepted Posted: 14 Apr 2019 05:29 PM PDT Hi everyone, My husband and I purchased a home we have gone through already the home inspection and signing on the final value of buying the home. We close on the 26th of April, I am unsure of what the next step is. I have started getting utility vendors switched on the day we close. I am just not sure what happens with the mortgage after we got pre approved do we need to look for lender now. We signed the purchase agreement form already does that mean we are stuck with the company we got pre approved from just super confused our pre-approval bank hasn't given us any information to go on. Thank you [link] [comments]  |
| Question about joining another MLS. Posted: 14 Apr 2019 01:35 PM PDT Would it be worth it to pay to join another MLS to get 1 listing and get them as a buyer knowing you only have a 90 day window to get their home sold as well as finding them a new one? They live 2 hrs away from me. 🤔 [link] [comments]  |
| Posted: 14 Apr 2019 05:14 PM PDT |
| Closing on a home in a few days and have a couple questions. Can an underwriter help calm me down? Posted: 14 Apr 2019 12:06 PM PDT I am closing on our first home in just a couple of days and I am beyond stressed and anxious about it all. Some details: $42,000 a year income DTI around 35% or so.. It is really low as the only thing I am paying is my Chapter 13 Bankruptcy payments every two weeks... Which I only owe 7k and I am paying my creditors 100% back. No other debt. 640 credit, give or take. I have 5k in bank account and 2400-3k in savings. On the good faith estimate I only need to bring $3100 to the table, plus or minus. Appraisal is perfect. I do have Trustee approval for home loan--all sent in. I have 4 trade lines: 2 years perfect rent payments, 2.5 years with cell phone, 1.5 years with another payment and 6 months with Geico. All approved for my trade lines since I don't have any credit cards. No large cash deposits.. No opening credit cards.. Nothing. I have been good and wise throughout this process. The house is $92,900 with FHA. I also have more money, just isn't being used as assets. My emergency fund in cash.. The house I currently live in I am in charge of fixing everything that breaks so I am well aware that home owning is hard work. Essentially doing that now for free :( I am SO afraid underwriter won't approve our loan :( the processor who has been communicating back and fourth with me doesn't see any issues... And says that it is either jobs in which I have almost 3 years at mine.. Or it's the fact that they have no additional trade lines. We are still set to close this week and she doesn't see any issues arising... Help calm me down! Haha [link] [comments]  |
| [NC] Landlord withholding security deposit and claiming we didn't understand our verbal agreement Posted: 14 Apr 2019 03:45 PM PDT |
| Posted: 14 Apr 2019 02:24 PM PDT I know nothing about real estate other than I'm trying to buy my first home. I saw this graph/post and it made me wonder if we're headed towards another housing bubble? Some of these cities exceed where we were in 2008. How are these prices sustainable? Are we expecting another crash? In my area, there are a lot of multi-generation families living together or moving back home because housing is so unaffordable. [link] [comments]  |
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