When buying or viewing a house do you even pay attention to noises like creaking floors? Real Estate |
- When buying or viewing a house do you even pay attention to noises like creaking floors?
- Any builders?
- Is it better to use savings for 20% down on house needing lots of work and finance for renovations, pay a smaller downpayment (thus accruing PMI) and keep larger cash pool for renovations or explore a “Homestyle Loan”?
- Can I negotiate lower rent payment from apartment management?
- Looking for second opinion on offer from buyer [PA]
- What's the normal process for closing?
- New Home Final Walkthrough - What’s Reasonable
- Should I lock in my mortgage rates now?
- Buying our first home in Minneapolis. Need advice.
- Im considering purchasing a pre-fab/mobile home
- My father and I purchased a condo with the intent of me fully taking it over once he retires. Need guidance on what to do with the property.
- Common inspection finds
- FICO & Using Credit for All my living expenses
- My parent’s house in Hawai’i
- Accessibility in Real Estate
- Underwriting is it easy to approve? How long it take for approval
- How to decide between renting and buying? I saw the NYTimes calculator, is it exactly that?
- Doing a project pertaining to demand analysis of retail space, how do I break it down?
- Real estate investing - moving in 2-3 years
- Upgrades may increase my loss
- Inspection contingency on a flip
- What states in the East Coast or near the East Coast would be best to move in as a young adult?
- Bought home with new windows....seeing leaks
- Tenants moving out without 60 days notice
- Survey
| When buying or viewing a house do you even pay attention to noises like creaking floors? Posted: 22 Apr 2019 01:03 PM PDT When buying/viewing a house for sale do you pay attention to noises like a creaking floor, squeaking door or plumbing noises like a rattling pipe or noisy hvac unit? [link] [comments]  |
| Posted: 22 Apr 2019 10:42 PM PDT I have flipped a few houses in the last couple years and the idea of building is very enticing. But it's very different from flipping houses, at least the way I'm used to. So the question is, how do you go about it? I have a RE agent who is pretty good but I don't want to sound like a complete moron asking her for help on the whole thing. The area I'm looking at will require septic and most likely a well. Any suggestions on what to look out for and how to go about organizing the crew would be extremely appreciated. [link] [comments]  |
| Posted: 22 Apr 2019 07:35 PM PDT My husband and I are coming to the realization that our best bet will be to buy an imperfect house in a perfect(ish) area and make renovations ourselves. Going to a showing tomorrow for a house that would need quite a bit of work and trying to gauge how much money we would have available to put into it. Would it be moronic to put 10% down when we have more than 20%? I'm apprehensive about the home renovation loans because I understand so little about them. We both have good credit (lowest score between us is 760) and no debt. [link] [comments]  |
| Can I negotiate lower rent payment from apartment management? Posted: 22 Apr 2019 07:44 PM PDT I have a studio apartment that is professionally managed and was wondering if I'd be able to negotiate to have my rent lowered? Is that possible? [link] [comments]  |
| Looking for second opinion on offer from buyer [PA] Posted: 22 Apr 2019 08:23 PM PDT House was listed Thursday, had 6 showings scheduled, only three showed. One liked it, wanted second look, didn't show. Another has made an offer. Took about four tries from their Realtor to get it in the ballpark of filling things out correctly. Long story short, we didn't offer FHA but this couple asked and was willing to pay for repairs needed to fix that we knew might be an issue (barn door to bathroom, garage door to basement) they are relatively cheap fixes, but its not specified who is contracting those fixes. Couple asked full price with 4% seller assist. They really love the place, and didn't seem to have issue with getting approved for financing. Comps by my agent put house around 2% seller assist price. Would be nice to get what I can to put towards new home. We are contingent upon our new home purchase. They want agreement in 24 hours, settlement ideally by end of next month. Photos of house finally go public tomorrow. I wish there was another 24 hours to see if there are any bites with the photos taken. My thought is, counteroffer at 2% and don't budge? Edit: appreciate all constructive comments so far! [link] [comments]  |
| What's the normal process for closing? Posted: 22 Apr 2019 08:51 AM PDT I'm a first time buyer and I feel like our mortgage company has some exceptionally poor customer service. We're supposed to closed Wednesday (48 hours) and it's been like pulling teeth to keep me updated about what's happening. We just got the closing discolure this morning and it's about 3k higher than the estimate we received previously and they didn't send any explanation as to why. We called and he said the insurance we chose was higher than the one they estimated originally and they would send me a quote from their insurance rep (though they never told me anything about this previously and the insurance rep that I signed up with called me and told me that my mortgage company refferd me to her and had all of our info). That still doesn't make up for the 3k difference and he said he'd call us back to let us know the details but to go ahead and sign the document because they need that to go back to take to the title company where they can figure out the final numbers. He says I'm not locked into anything by signing it but I need to sign it to continue the process which raises my red flags, hence the reddit post. Im just feeling overwhelmed and under informed so my specific question is: Is this normal? 2 days before closing the mortgage company and the title company "balance the amounts"? So if the numbers don't look right on closing day I can back out? I really feel stuck because I don't want to back out of this home last minute and start over but I don't feel confident Edit: I just received the Closing Disclosure this morning but it's dated 4/18. I'm guessing that's how they got around the 72 hour thing. Also they contacted my homeowners insurance rep and asked them to raise my deductible to get my cost lower, but then have the rep raise it back after closing and I'll have to pay the difference directly to the insurance rather than it being in the loan. If I'm paying the same either way what's the point in doing this other than lowering my closing cost? [link] [comments]  |
| New Home Final Walkthrough - What’s Reasonable Posted: 22 Apr 2019 01:28 PM PDT My husband and I have our final walkthrough on our new build tomorrow. We stopped by this afternoon (with permission) to show my parents the new house. While there we made some mental notes to discuss with the builder - paint touch-ups, loose trim, etc. But we aren't sure how nitpicky we should be. Any suggestions? Specifically, we noticed two rather large cracks in the garage floor. Is it reasonable for us to request they fix these? It seems like it would require re-pouring the garage slab. (EDIT: by large I mean long, not wide) Happy to hear your thoughts. [link] [comments]  |
| Should I lock in my mortgage rates now? Posted: 22 Apr 2019 10:46 AM PDT Purching a newly constructed single residential house. Expected to be completed in July to Sep of this year. [link] [comments]  |
| Buying our first home in Minneapolis. Need advice. Posted: 22 Apr 2019 02:35 PM PDT Hey everyone. So my wife and I are trying to buy our first home in Minneapolis. We are overwhelmed with how competitive the market is right now, but trying to push through it. We got outbid on several homes, with the last one being outbid by at least $15k. We found a great home within our price range for 260k: 3bed, 1bath, 1garage. The best part of it is that it is in a great neighborhood. The inspection went well until it came to the garage. Apparently, it's beyond repair and will need to be demolished at some point down the road. Also, apparently the house was mislabeled as having AC, when in fact it doesn't. I can live with the AC but the garage was kind of a ball buster, especially since we're gonna be dealing with winters. Our realtor seems to think we won't be able to counter offer since we somewhat got a steal on this house (we got it for asking). We were anticipating going around $10-15k over asking, so it seems like we may have got our wish, but we may need to invest the extra money in a garage at this point. Any advice on where to go from here? I understand I might be able to build a new one in a couple of years granted the concrete foundation is in still good shape (which it is). [link] [comments]  |
| Im considering purchasing a pre-fab/mobile home Posted: 22 Apr 2019 10:17 AM PDT How is this different that purchasing a traditional home? Anything I should be aware of. First time buyer. [link] [comments]  |
| Posted: 22 Apr 2019 07:41 PM PDT Hi Reddit, this may get long since I want to try and explain the entire situation, I apologize for any mistakes or missing information in advanced and will answer any questions in the comments. In November of 2018, my father and I purchased a 2 bedroom condo. I say my father and I because we are both owners but he is the one who put $100k down from the equity he made from a previous home he owned. He also purchased a home in another city near by where he plans on retiring in Jan 2020. Him and I are currently living in this condo and I am saving as much as possible before January comes so I have a good amount of money in the bank incase I run into any financial problems. We decided on a 2 bedroom so I could have the option on getting a roommate for the first year or two, or until I am able to afford it on my own. The mortgage is $1800 which includes the HOA, insurance and taxes. My dad is currently in the process and refinancing since the interest rates were high when we bought and it could drop this payment around $100 making it $1700 total. The problem is I am already starting to stress about taking the mortgage over as I know I cannot do it all on my own and would be dependent on a roommate, most likely a random person I would have to find online. I currently take home around $2450 a month after taxes and insurance. Although I know it's not much, they treat me very well there. I am positive I will continue to grow financially and I am very happy and can see myself working there for a long time. My boyfriend and I recently discussed moving in together once my dad leaves but the location of the condo would be a terrible commute for him with traffic both ways. So, if we make this commitment to live together it would not be at the condo and we would rent in a location that is suitable for both him and I. I would like to move in with my boyfriend but my problem now is what I should do with the condo. The options I have thought on were either renting it out or selling it to purchase later down the road. So starting with the option to rent it out, I have ZERO experience or knowledge of renting a property and it would be little to no profit. The highest I think I could ask for it may be around $1900-1950. I know this comes with a lot of responsibility and I don't know if it's worth it? But this way I could keep the condo and possibly build equity. The other option is selling and putting the money in the bank until I am ready to purchase again, this of course would mean losing the condo and not building equity but I would not have the stress of owning a rental property with hardly any profit. As you can probably see I am in over my head with being an owner of this condo and have little knowledge of what the best thing to do is. Any recommendation would be greatly appreciated! [link] [comments]  |
| Posted: 22 Apr 2019 06:49 AM PDT I accepted an offer on my house on Saturday. I am a little nervous about the inspection just because of the unknown. Within the last year I have installed a new sump pump, water heater, some new windows, the roof is four years old, and I had a moisture barrier and spray foam instillation out in the crawl space and added insulation in the attic. I also put in a smart thermostat and an energy efficient bathroom fan. I want to be proactive and fix anything that might come up on an inspection. What are some common things that I could prepare for before the inspection? My house was built in 1951, it's a ranch style with an addition (master bedroom and bathroom). I don't have any disclosures because I repaired everything prior to listing, or as needed. Just reviewing my inspection from 2016, there were no major issues and minor things have been corrected. My realtor isn't concerned about anything, but again the unknown is stressing me out. Thank you in advance! [link] [comments]  |
| FICO & Using Credit for All my living expenses Posted: 22 Apr 2019 02:27 PM PDT Greetings. I run 50-70k thru one credit card annually, using it for everything from utility and insurance autopays, all food,gas, household items, purchases etc. I never pay any interest. Pay in full each month and collect the reward points. This is very common, I know. My question is specific to FICO scoring. My standing current balance is usually under 5k and only occasionally tips past 30% or up to 40% of the credit limit on the one of two cards I have that is the only one I use. Would my score improve if I split my expenses between the two cards? Understand the total debt would stay the same. But it would be a lesser percentage of each cards's limit. Of course the total combined unused credit in both cards wouldn't change either. So. Make any difference in score? I'm in low 800s if that matters. TIA TL;DR. Splitting charges (always paid full and current) across two cards instead of one. Does it matter for FICO? [link] [comments]  |
| Posted: 22 Apr 2019 11:37 PM PDT My parents own a townhouse in Hawai'i. They have $60k left. I was wondering if I can take over that loan for them so they can get another house or if it is allowed to have them sell it to me for $60-$100k? The house was bought for $111k at 2001 and appraised for $312,000 last year. I don't want them to sell that house because it has sentimental values to me and I know that townhouse will be worth more in the long run. How will taxes work? [link] [comments]  |
| Posted: 22 Apr 2019 11:37 PM PDT We are looking for people to share their experiences in real estate with regards to disabilities. We'd like to hear good experiences and bad experiences, from buyers, sellers, agents, and any other professional. It can involve your disability or someone else's, but please only first-hand accounts. This can be any form of disability, but visual, aural, and mobility impairments are the focus of this inquiry. Our biggest interest: "What could have been done to improve your experience / make the process more accessible to you?" [link] [comments]  |
| Underwriting is it easy to approve? How long it take for approval Posted: 22 Apr 2019 04:46 AM PDT My loan is in underwriting and asking many documents Makes me worry [link] [comments]  |
| How to decide between renting and buying? I saw the NYTimes calculator, is it exactly that? Posted: 22 Apr 2019 04:55 PM PDT I'm in Chicago and am renting for $2,000 - rehabbed 2 bed with significant other. Will eventually buy in the future but forever home will like be around a $3,500 total monthly payment but that's down the road. Don't want to bump up to that pricepoint at this stage in my life since don't need that much space yet. But I could look to buy a first home at this time, which would be nicer than what I'm renting and have an extra bed and bath, that would be a total monthly payment around $2,500-$3,000 (total = principle, interest, property taxes, insurance, HOA), however I'm having trouble figuring out if it's smarter to do so or keep renting. Let's say I can buy a place right now for $2,500/month to live in for the next 5 years. I'm then paying $500 more a month than what my rent would have been but now own a home - so $30,000 more over 5 years. Is that $500 monthly differential the true extra amount I am incurring, or am I not thinking correctly and it's actually a different amount? If I just rented the 5 years, I'd have an extra $30,000 in my bank account..but let's assume that downpayment isn't an issue on the home in the first place for simplicty sake. I know there's closing costs to sell (6% a fair amount to budget?) so let's say for example I bought the home for 400k. Selling costs would be 24k if I were to resell it for 400k and I'd obviously be at a loss right? To break even I'd need the home to appreciate..if I was able to sell it for 450k, 6% is 27k so proceeds are 423k..so then could I think of it as I paid 30k extra over the 5 years but received 23k profit from the home sale, so I just paid 7k more over the 5 years? And then obviously, if the home sold for 500k, would be even more beneficial to have owned, etc. Am I thinking about this right or not at all? And I do completely acknowledge home ownership comes with additional headaches and unforeseen cost. But for simplicity sake, I'm just trying to figure out how to easily determine if better to rent or buy. [link] [comments]  |
| Doing a project pertaining to demand analysis of retail space, how do I break it down? Posted: 22 Apr 2019 10:39 PM PDT Working on a market analysis project for a class, but the instructor's instructions are a bit unclear. Can anyone steer me in the right direction on how i should do my demand analysis? I have access to CoStar and the property is there. Tables/graphs to use would be great as well. Thank you! [link] [comments]  |
| Real estate investing - moving in 2-3 years Posted: 22 Apr 2019 10:07 PM PDT New member here, and new to real estate investing. I currently own my home, looking to invest in a rental property. However, we may move in 2-3 years, considering leaving the Chicago Suburbs for Seattle area. What should my investment strategy be? Not sure I want to or can be a landlord half way across the country. [link] [comments]  |
| Posted: 22 Apr 2019 10:24 AM PDT I do not have central air or a new furnace. Does it make sense to install central air and get a new furnace? I am planning to sell my condo, so it would be better to do this, from the buyer's perspective. However, I paid $137K for my unit and the recent sale (2 months ago) of a virtually identical unit in my building was $140K . It did have central air though. (I don't think that the furnace was new.) Another unit sold in late 2015 for $120K, with central air. I got three estimates last Friday and they were all between $6K and $8K. I feel like, with the real estate fees involved in selling, I will just take a larger loss on the sale by adding new components now. Some (many?) of the condos in my zip code do not have central air. The listings say, "2 newer window units" or something similar. Units with central air seem to have been purchased for 1/2 of what I paid, either 20+ years ago, or during the downturn. Some were only 55K-70K, leaving more leeway for upgrades. [link] [comments]  |
| Inspection contingency on a flip Posted: 22 Apr 2019 09:39 AM PDT I am about to make an offer for a home that was a quick flip by a developer. He did everything with permits (verified) including new roof, new electrical, new plumbing. Everything seems to check out and the home itself looks good. When I got the disclosures, I noticed the inspection info was very sparse and did not have much info at all. I live in the bay area where many offers are done without any contingencies as it is a big sellers market but having minimal info on inspection on a flip makes me a little nervous. I brought this up to my agent who said that it is not uncommon for a major remodel not to show much of anything on an inspection report. It is limited to what the inspector could see, which is not much given all the newly constructed walls throughout the house; especially at the foundation, which is no longer exposed (You'd have to cut into the walls to see it in the garage, for instance). He recommended that if I was that nervous, I could do a very quick general contractor inspection contingency although he does not think they would add much and might only hurt my chances by adding this contingency with little benefit. What are your thoughts? [link] [comments]  |
| What states in the East Coast or near the East Coast would be best to move in as a young adult? Posted: 22 Apr 2019 08:56 PM PDT Ideally I would want to live in a state with plenty of outdoor opportunities, nature, wildlife, but also access to shopping areas and job opportunities. Safety is a must and my budget is 800 and under. [link] [comments]  |
| Bought home with new windows....seeing leaks Posted: 22 Apr 2019 10:18 AM PDT |
| Tenants moving out without 60 days notice Posted: 22 Apr 2019 08:44 PM PDT We had 1 year contract with our tenants ending in a couple of months and 60 days notice if they want to vacate and find someplace else. They just told us they found another house and want to move out by the end of May giving us no time (+30 days) to find another tenants. No experience handling this situation, any advice is appreciated. Thanks [link] [comments]  |
| Posted: 22 Apr 2019 09:52 AM PDT Hopefully someone here can help with this real estate question regarding Surveys. If I have the legal description of the property X ft by Y ft lot size and some reference of a point on the street for example., but this conflicts with the tax record lot dimensions via a GIS mapping tool. How does a survey deconflict these points of reference? Also there seems to be a discrepancy in adding dimensions of the lots between two streets. The discrepancy seems to be that western lot, and the eastern lot dimensions total to 300ft, but the distance between the two roads that bookend those lots is between 320-330 depending on the measurement tool. - 150ft - - 150ft - |road 1 | [ west lot] [east lot]| road 2| ^ 330ft ^ basically what is the process by which the surveyor interprets the data points. and determines where the property line lay between west lot and east lot? I don't want to spend $1K for the survey (going rate in the area) if all the surveyor will do is mark out 150ft (deed's legal description) from the road and not take into account any other incongruities. Right now the two lots are separated by a fence 150ft from road 2 and i have not affirmatively measured myself the distance from the fence to road 1. I have recently purchased east lot and want to know what i have a reasonable hope of finding/doing in order to claim all of the rightful land. [link] [comments]  |
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