Realtor won’t make my offer Real Estate |
- Realtor won’t make my offer
- Where to learn about the finance side of real estate development?
- Sellers were hiding unpaid property taxes (CA)
- Realtor showing home without permission [California]
- UPDATE: AC broken upon moving in
- How to search for new built homes? Inventory and to be built?
- My Landlord is Kicking out my Cat
- Clear to close
- Did we do the right thing by cancelling the contract?
- What do you do if the mortgage company failed to remove PMI? (VA)
- My offer was outbid by all cash. Any other advantage do I have?
- Open house- visiting noisy dogs
- Landlord Attempting to Double Dip
- Buying Used in New Construction Development
- What if I’m not happy with sale?
- Is it better to wait before you have more money for a cash down if you already have around 20 % instead of buying ?(CA)
- Condo Insurance/ snow - melting snow
- Time to cut ties with realtor?
- First Time Home Owners...Closing Cost...
- Clueless First-Time Home Buyer
- Seller declined our offer
- Setting Records
- What docs to leave for new home owner? So much...
- Advice on selling a mobile home (trailer in a trailer park)
- Rent or Sell?
| Posted: 23 Apr 2019 12:59 PM PDT Hello! First time home buyer here! I feel like my realtor is pressuring me into financing a home at the max of our loan approval- 215k. I don't want to do that because the payments would be over what I feel comfortable making. We looked at a house yesterday that was over our budget- marked at 229k, but has also been on the market for 40+ days. According to the seller's realtor it has had no offers but she was "waiting to hear back from someone who looked at it last week". We both liked the house- structure and location of what we are looking for. I asked my realtor if we could offer 195k and see what they counter with. She refused, saying that they won't even entertain that offer and we should start with 215k... Perhaps I am naive, what with this being my first time, but I thought what could it hurt to ask? I know this seller was trying to rent the second bedroom out a week after posting it for sale... So I don't know maybe she is having issues making payments and is looking to be unburdened? So today my realtor texts me and asks what we are thinking, because there is another showing tonight. I'm thinking I want her to offer 195k, we have no contingencies, no reason for hurrying to move out of the house we rent (other than our landlord being an absolute twat), and we will pay for our own closing costs. Can she tell me that she won't offer what I want? I'm not trying to offend anyone, just trying to make sure my house payment isn't sucking the life out of me. I know it's only a matter of $200 +- monthly, but shit that could be a huge difference for us. [link] [comments]  |
| Where to learn about the finance side of real estate development? Posted: 24 Apr 2019 03:59 AM PDT Hi everyone, I work a job as a low-ish level development associate that I sort of parlayed my experience in historic rehab tax credits to get. I'd like to continue growing my skill set and after a conversation with a friend of mine last night we decided that the most valuable thing I could add to my resume would be knowledge of the financial side of things. I'm hoping some people here can point me towards some good resources. I'd like to start pretty basic because my background in finance extends about as far as setting a budget in Mint. I found a course with the NAIOP that costs about $1000. I was wondering 1) if anyone had any experience with that course, 2) if anyone could point me in the direction of any other courses that may be less expensive or possibly from more respected organizations. My girlfriend mentioned that there are plenty of free courses even through Ivy League schools that I could take, but I wondered if there was a specific certificate I should seek, or recognition from a certain organization that a potential employer would be more impressed with than others. Thanks in advance for the help! [link] [comments]  |
| Sellers were hiding unpaid property taxes (CA) Posted: 23 Apr 2019 03:18 PM PDT I made a post a month ago about buying my first home using a VA rehab loan program. It has been very challenging to get all the pieces together just to fall flat on my face shy of finish line. The property appraised higher than offer, underwriting came in clear to close, I already signed all my closing documents, and wired my cash to close to escrow. I was waiting to get a confirmation of being funded so they can proceed with the recording when I got a call from my agent. He informed me that the sellers had been hiding how much they owed in property taxes, and that their bank might be in the starting process of foreclosing the home. In the closing docs I noticed that the seller had about 4k of their closing cash going towards unpaid property taxes. Now my agent said that amount is A LOT higher. He also told me my only recourse is getting the seller to agree to pay for my rate lock extension out of their closing cash proceeds. My lender is in the process of trying to convince the seller to pay what is owed in back property taxes out of the same proceeds. If the seller refuses the deal would then fall through because my lender would not fund. My agent said we are ducks on open water until the seller moves one way or another. I'm surprised my lender did not catch this during their title investigation weeks ago! My question to the community is how common is this? How can I best position myself in this situation? [link] [comments]  |
| Realtor showing home without permission [California] Posted: 23 Apr 2019 05:28 PM PDT We listed our home for sale recently and are currently considering a few different offers. We put out counteroffers this morning, and have been waiting to hear back. My wife got home from work this afternoon to find people in the house - apparently it was one of the prospective buyers with their realtor and a contractor. We are still living in the home and have explicit instructions in the MLS to contact us for an appointment before entering the house. No attempt was made to contact us. We are especially upset because they left all of the doors open while they were inside, and we were extremely worried that they had let our indoor-only cat outside (thankfully she was hiding in a closet). After they left, we called our realtor to find out what the heck happened. They hadn't contacted her to make an appointment either. These buyers made a pretty good offer, so we're wondering what our next steps are. Has anyone dealt with a situation like this before? I guess I'm looking for advice on two things.
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| UPDATE: AC broken upon moving in Posted: 23 Apr 2019 06:08 PM PDT Hey all :) I appreciate all the responses and all of the help. Our house is wonderful and the neighborhood is amazing. However, our AC is totally trashed, which almost caught our house on fire!! The condensation pump is broken too. Sellers wrote that the AC worked just fine. Well, we actually have proof that it's been broke for years, via our AC tech and numerous people around the neighborhood. I guess they always used window units and fans because, it was broken. They attempted to rig it up incorrectly. We also have learnt that the sewer lines are crumbling and they said that these were fine too. Upon hearing this, and listening to the neighbors, our Agent has stated we need to get an Attorney ASAP. We have the funds to fix these issues now however, lying is just terrible especially if you tell everyone about your lies. Should we contact an Attorney? We have pictures, witnesses that will talk and they have pictures and proof, and our HVAC guy will speak too and the Plumber. Is it worth seeking an Attorney? These are costly fixes and while I am fixing them, it is upsetting they lied on a legally binding contract. Has anyone had success with real estate attorneys for things of this nature? Thanks! [link] [comments]  |
| How to search for new built homes? Inventory and to be built? Posted: 23 Apr 2019 07:47 PM PDT |
| My Landlord is Kicking out my Cat Posted: 23 Apr 2019 05:53 AM PDT A year ago I was looking for an apartment in Brooklyn and found one easy but it was a no pet apartment so I asked my broker to ask my current landlord if it's ok. So my landlord came to the signing to see the pictures of the cat he put in the lease with permission of the landlord pets are permitted which we had. Now he wants us to move out because of the cat a year later. I can't afford another brokers fee and I don't understand why this is happening we pay everything on time or early, we are barely in the apartment and called them once because the washing machine broke the first week. I feel we have been good tenets till now. I just offered a non-refundable pet deposit but honestly, I don't know if that will make them let us stay another 6 months. If you were a landlord what would make you keep the cat in the apartment. My offer was 6-month extension at the new rate (1,650) and 300 dollars non-refundable pet deposit. [link] [comments]  |
| Posted: 24 Apr 2019 04:01 AM PDT Got our clear to close email yesterday...but still haven't received the final closing disclosure from the lender...the closing agency has sent the amount needed for closing though and the wire transfer instructions. (I verified it was a legit email). The amount owed is a fee hundred more than I was expecting, so I'm waiting until my lender sends the final closing disclosure...was told I'll need to wire the money at least a day before closing which is this Friday. Does this sound typical or am I being jerked around? [link] [comments]  |
| Did we do the right thing by cancelling the contract? Posted: 23 Apr 2019 01:19 PM PDT Spouse and I were in the option period for a 1960s home in Texas. We had several negotiations along the way regarding the electrical because there was still knob and tube being used in parts of the home (which is remarkably common in this area). After consulting with an electrician who confirmed that the wiring was in good condition and made some suggestions for repairs/upgrades that would afford us the most safety and flexibility without having to rewire the house (which seller was unwilling to do). First we asked seller to make these repairs/upgrades and they refused. Then we asked for closing credit so that we could handle the repairs ourselves and they refused After several rounds of negotiations our final offer was 2500 off of selling price and they refused, so we walked. After we walked they came back and said they'd lower the selling price but we still decided to cancel the contract. Even though we "got what we wanted" we still chose to walk away because frankly we had had enough. I realize it's perfectly within the seller's rights to negotiate but I felt that they were trying to strong arm us into conceding when the upgrades really should have already been made in the first place. Seller was an investor that could have easily updated electrical while the drywall was out, but likely didn't want to foot the bill. My gut feeling is that the seller was hoping to kick the can down the road on an eventual rewire AND intimidate us into paying out of pocket for repairs that (I feel) they should be responsible for. Do you think I made the right decision or was it dumb to make such a big decision based on a gut feeling? [link] [comments]  |
| What do you do if the mortgage company failed to remove PMI? (VA) Posted: 23 Apr 2019 09:11 PM PDT Long story short, my my grandfather's heath is on the decline, so my parents are agents over his estate. My parents have been sorting through everything over the past six months, and my father just realized that since my grandfather used a I want to figure out if the mortgage company is responsible at all. I'm not optimistic, however. Outside of some articles saying the mortgage company is required by law to remove PMI at 78%, I can't find much on what people do in this situation. Any insight or advice would be great. edit: as /u/Jamiemost22 pointed out, VA loans don't require PMI. I checked with my father, and he said it was either an FHA or conventional using < 20% as a down payment. [link] [comments]  |
| My offer was outbid by all cash. Any other advantage do I have? Posted: 23 Apr 2019 03:16 PM PDT We put in offer for $470k home with 10% down @ asking price of $470k. We found out today that there were 2 other pending offers with all cash also at the asking price. We are raising the price to $480k but of course since we are conventional loan, the seller have less incentive to pick our offer. Is there any other advantage we have to convince the seller to pick our offer? [link] [comments]  |
| Open house- visiting noisy dogs Posted: 24 Apr 2019 01:34 AM PDT Just a question: we are selling and are having open houses. Our neighbour's new girlfriend has 2 yappy dogs. They tend to go out and leave them. Girlfriend does not live there. He's an asshole so no point asking him to house the dogs. My real estate guy knows dogs are visiting. I would like him to tell people who come to open house that dogs do not live there. Worried that we will look like liars if we say that and then by chance dogs move in. Suggestions on to to handle this? Thanks! [link] [comments]  |
| Landlord Attempting to Double Dip Posted: 23 Apr 2019 01:22 PM PDT My lease goes through the end of August. I gave my landlord notice this month that I'll be vacating the apartment in mid-July. He has the apartment listed for an August 1st move in date. There are no early termination clauses in my lease. He claims that my lease is legally binding and that I owe him the entirety of the rent, but doesn't the lease also bind him to NOT issue a second lease to someone else while mine is still active? I live in MA, USA. Edit: I have no problem with paying August rent. I am worried about the situation where he puts a new tenant in while my lease is still active and I then become responsible for utilities/damages that are not due to my actions. He has said there is no early termination at all, which should mean he cannot bring in a new tenant during August, right? [link] [comments]  |
| Buying Used in New Construction Development Posted: 23 Apr 2019 08:21 PM PDT Hey All, Looking for first home. Phila Suburbs. Market seems to be hot in most areas. The "good" homes are usually pending within 3 days max. A townhome we like has been sitting on the market for 4+ months. A few price reductions, and one withdrawal. Builder still has at least half of the lots to go and prices seem to be on par with what they always were. Owner has been in there for less than 2 years. everything I've read leads me to believe the seller should expect to take a hit by selling so soon. My question is what would you try to target as your goal price? how much leverage do you think the buyer has? 10% discount? 15%? Buyers who like the development can basically customize their own house almost identical for the same price or just above? maybe cheaper? additional info. development is not large so lot positioning isn't a HUGE deal. some have small yards, others have more space but graded. [link] [comments]  |
| What if I’m not happy with sale? Posted: 23 Apr 2019 11:27 PM PDT My realtor never presented me with written offer sheets or had me write counteroffers. He would just call and say we have two offers, this one's better, I'll meet you tomorrow to sign the "offer " by which he meant sign the contract. I think it's underpriced because the local market is a seller's market and several people a week would come see it and I started receiving offers after the winter storm. It eventually went to some real estate friends of his so I'm paying all closing costs while he receives commission on both ends. I signed the contract and closing is soon. It doesn't seem like he worked on my behalf to get me the best price. Then he didn't bother to get buyer initials for a rent back until I prompted him a week later and he wanted me to sign off on the close before getting their initials. [link] [comments]  |
| Posted: 23 Apr 2019 07:29 PM PDT Real Estate market is moving a lot where I live and prices go up quickly. I would like to wait, but I'm also scared that even if I pile up more money, the house prices will catch up with whatever I can put aside. I have a down payment of about 20 to 25% of the houses I could afford. I would buy alone and with all the fees about half of my income after taxes would go into my potential hone every month. [link] [comments]  |
| Condo Insurance/ snow - melting snow Posted: 23 Apr 2019 05:13 PM PDT Hello, Quebec, Canada region I just purchased a Condo, and I just acquired insurance, which includes: -Personal property: auto inflation protection at a monthly rate of .25% repair or replacement cost without deduction for depreciation: 1k deductible insurance amount: 16k
My problem is that my insurance does not cover snow damage, or water damage from snow melting? Snow is a major issue in Quebec, and im not comfortable not having any coverage on it. Any thoughts on this? Thanks [link] [comments]  |
| Time to cut ties with realtor? Posted: 23 Apr 2019 03:33 PM PDT I've made a couple posts in the past while we've looked at homes and a few people suggested we cut ties then, but now I'm really thinking it. Situation: We saw a home we really liked, thought it was slightly overpriced, but considering we wanted closing assistance we would gauge the seller and make an offer 4k under list + closing cost assistance. I made the offer.over the phone to our realtor so he could write it all up rather than me mess it up on the offer sheet we had. A few days later we're told that the seller has countered just on the sales price, which we decided to counter. A couple of days later we're told it was accepted (yay?). Not so much yay. Apparently our realtor declined to tell us that he failed to include that we wanted closing assistance in our offers. Now we're in a pickle on wether to put forth another offer, a higher one, to the seller. Or drop the deal and walk away because we'd be over budget with what my realtor had submitted. He admitted it was a little sneaky of him to do it, but he wanted to make sure our offer was accepted. Pisses me off, bc I'd rather MY offer be countered/accepted/rejected and know where it stood than to think it was in play all the whele it wasn't. Edit: thanks for the replies. I think we're moving on, but I'll definitely be sure to not sign things without them being fully filled out [link] [comments]  |
| First Time Home Owners...Closing Cost... Posted: 23 Apr 2019 02:21 PM PDT Question does this sound right? So I emailed my lender today. We have been going back and forth with paper work. I was approved for a $180K loan. We are in the process of getting our offer accepted by the buyer for $173K with a $5K closing credit. The lender shot me back an email breaking down monthly cost. Also closing cost. With the down payment of 3%, the closing credit, and closing cost we are looking at $14,000. The property taxes are $3200 with an additional $310 sewage charge a year. Does that sound right? Shot back to the lender to clarify. I mean it's doable but kind of knocked us off our chairs. [link] [comments]  |
| Clueless First-Time Home Buyer Posted: 23 Apr 2019 03:04 PM PDT Hi there, I am hoping to buy a house within the next year. I know almost nothing about the real estate market and how to choose a home that will appreciate well. I have inherited a home from a relative who passed away, so I will have a decent amount of liquid assets after the sale of said home, and I'm also unsure of whether it is smarter to invest a larger down payment into a new home or go with a smaller one and perhaps invest in another property as a rental. Are there any solid resources I could look into to get myself up to speed on these types of things? Thanks so much in advance. EDIT: Just to be clear, what I am really asking for (instead of specific advice about my situation) is podcasts, books, websites, online courses, etc, that others have found helpful for learning the fundamentals. Thank you. [link] [comments]  |
| Posted: 23 Apr 2019 05:21 PM PDT We offered cash for a home at about 85% of list price. It has been listed for 40 days and homes in this price range take on average 14 months to sell. When they do sell it's typically for about 90% of list. There aren't a lot of comps but our offer is a bit lower because we would need to remediate a flood problem in the garage. We got a quote on this from a contractor prior to making an offer and explained in an offer letter how much this was. Is it a normal negotiating tactic to simply decline an offer and ask the buyer to submit something better? We think it is pointless to negotiate against ourselves. Do sellers ever come back to the buyer with a counter after initially declining their offer? [link] [comments]  |
| Posted: 23 Apr 2019 04:56 PM PDT I've put seven offers on seven different houses now. Most at or above asking price. My realtor said it was a new record for him.. this is my luck in a nutshell. [link] [comments]  |
| What docs to leave for new home owner? So much... Posted: 23 Apr 2019 12:51 PM PDT I'm handing over the keys in a few weeks and am digging through the mountain of documents I have pertaining to improvements and maintenance/repairs I've done in 10 years. I am having a hard time figuring out what I have to keep and what I should leave. For example, we put solar panels up, and I have a mountain of designs, permit application/permits, final specs, and it's all intermingled with loan applications and statements. I feel like they should get the specs at least, and I should keep anything financial, but what if (terrible worst case example) I get sued by a subcontractor who didn't get paid, or I get audited for a solar tax credit or something? Or I miss some paperwork that has my SSN on it? Or, an electrician receipt shows that I didn't put the correct thingamajig in the panel and there's a fire in 5 years. Or some document shows that I didn't get a permit for something I should have. I'm extremely risk averse, so I am always asking about permits, but you don't know what you don't know. I've tried my best to do the right things in my home, and I want to give the next family all the information they need to do what's right, but I am worried about future liabilities that I can't even guess at today. I have like ten bankers boxes of crap here :) Any tips? [link] [comments]  |
| Advice on selling a mobile home (trailer in a trailer park) Posted: 23 Apr 2019 04:31 PM PDT Hi All, I need to sell my Mom's trailer and have heard horror stories about how difficult they are to sell. Does anyone have any advice? Much appreciated. Mike [link] [comments]  |
| Posted: 23 Apr 2019 03:54 PM PDT So I have a complex question... I think. I own a 2 bedroom 1 bath 1200 sqft home with about 1/2 an acre of land in what I'd consider an upper middle class to weathly suburb. My wife and I are looking to upgrade and I'm having trouble figuring out my best option. I bought my home for $130k six years ago. I've put about $10k into my home over the years. My home is worth about $170k and I owe about $105k on my mortgage. Selling my house would be enough to be 100% debt free, paying off my truck, loans, and student loans (my credit cards are almost always at $0) until I get a new mortgage. However, renting is also pretty easy around here. I should have no problem finding a well qualified renter at about $2000 a month (utilities included) resulting in a monthly cash flow of about $700-800 a month. So would you take the $55k profit after fees and have a fresh start debt free, or would you keep these house and turn it into an income? "Debt free" is that goal we are all taught to strive for but I think I would rather have a 2nd mortgage that makes me money, than to be debt free. [link] [comments]  |
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