Blind man files $1.25M suit against realtor who allegedly 'tricked' him into selling home Real Estate |
- Blind man files $1.25M suit against realtor who allegedly 'tricked' him into selling home
- What happens if I surpass maximum income restriction in a co-op?
- Selling Inherited House, have questions about the time frame around closing
- Youtuber Meet Kevin Real Estate Course
- Know very little about real estate but am interested in purchasing an apartment unit for rental income. Would purchasing a leasehold unit be wise?
- Looking for a equity loan
- Bad credit selling home need rental home
- Should we get a pool inspection?
- How would you approach an offer in this situation?
- Unique landlord situation
- Pool leaks
- Is it possible to rent an apartment with a bad referral from previous landlord?
- PMI- Recheck score before closing docs are finalized?
- Borrowing from Roth IRA to hit 20% Down Payment?
- Submitted offer, seller asked for highest and best by 5pm... Didn't hear back.
- [USA-TX] VA Loan - Builder/Seller Upped Priced from 225k to 230k, appraisal came back at $225k but amendment says I am to pay additional $163.00 at closing, I'm confused?
- Title Insurance Math
- Basement issues
- Middle class couple need good financial real estate tax advice/consulting, who would be go to/search for?
- Offer accepted over 2 weeks ago - FSBO never changed Zillow listing to pending
- Seller wants to rent the house after the sale. There's mold in the house and I don't want to be liable for renting out a house contaminated with mold. What should I do?
- Converting a 1bd condo to a 2bd the right way
- Understanding Conforming and Jumbo Loans
- How do I get a line of credit from a bank to flip houses? Does my strategy make sense ?
| Blind man files $1.25M suit against realtor who allegedly 'tricked' him into selling home Posted: 18 Jun 2019 07:25 AM PDT |
| What happens if I surpass maximum income restriction in a co-op? Posted: 18 Jun 2019 08:22 PM PDT like when i buy it I am under but then start making more? [link] [comments]  |
| Selling Inherited House, have questions about the time frame around closing Posted: 19 Jun 2019 12:02 AM PDT I have accepted an offer to sell my (inherited) house. Due to the buyers going out of the country for nearly a month, the closing isn't until the 2nd week of August. There is no mortgage on the house either. My questions are these: 1) I know exactly what I want, but homes in the Seattle area aren't on the market for more than 3-4 days. If the house doesn't close for 7 weeks, when should I look? I won't be needing a mortgage, so closing times should be reduced, right? 2) how soon after closing will the Title Company have the $ in my bank account? Will it be right away? 3) most houses I have "liked" end up being offered at 5-10% over asking price. Does offering to pay in cash mean much to sellers (faster closing)? [link] [comments]  |
| Youtuber Meet Kevin Real Estate Course Posted: 18 Jun 2019 11:18 PM PDT Can anyone tell me anything about the course that he created? I looked around at some other courses and he charges less than the average and has way more content than any others. It seems too good to be true, so it probably is. If anyone has taken this or any other YouTuber real estate, let me know if they are scams or legit! [link] [comments]  |
| Posted: 18 Jun 2019 11:06 PM PDT We are currently renting in Hawaii, we got in a low income condo before high end condos were built in the area and are currently grandfathered in a very low monthly rent for the area. We plan to stay and rent in our current place as long as we can. But we do want to get into real estate. Specially to buy a 1 or 2 bedroom apartment unit to rent out. The only type of property we can afford for our area are units that are leasehold vs fee simple. Does anyone have more knowledge on leasehold vs fee simple properties? Would it be wise to purchase a leasehold property at a lower more affordable purchase price to rent out? Please help with any info or guide me into who would be best to speak with on our new real estate endeavor! Loan officer? Real estate agent? Financial adviser? Thank you in advance! [link] [comments]  |
| Posted: 18 Jun 2019 10:58 PM PDT Looking too see If I can get a equity loan, property is paid off was wondering if I need any income requirements? [link] [comments]  |
| Bad credit selling home need rental home Posted: 18 Jun 2019 10:47 PM PDT Basically my mom who lives in California owned a family restaurant and lost the restaurant about 3 years ago. She fell behind on all her bills and has a credit score of 550. She has no proof of income whatsoever. She is selling her house and after it's all said and done she is going to walk away with 300k cash. She can't quality for a home because she has no proof of income yet. She wants to rent a house but doesn't know how to go about it since every house we have been looking up is asking for a credit check and proof of income please if you guys have any advice I would really appreciate it we have 10 days until closing of the sale of her house. [link] [comments]  |
| Should we get a pool inspection? Posted: 18 Jun 2019 06:52 PM PDT We are under contract for a home with a small in ground pool and just set up a pool inspection. It's $495 for the basic inspection and $285 extra for a pressure test to test for leaks. My husband is arguing that we don't need to get the inspection at all because it will cost less to repair than it will to inspect and we'll discover any issues upon moving into the home. He also thinks that a visual inspection for $500 is insane and that he can identify if the pump is broken on his own. I think that we should get the inspection because who knows if it's leaking, if the leak is going into the foundation of the house, etc. Plus I think having more information is better when buying a new house and that we can ask for seller remediation if we know in advance. Does anyone have any advice/opinions either way? [link] [comments]  |
| How would you approach an offer in this situation? Posted: 18 Jun 2019 10:32 PM PDT Hello! I am looking at purchasing a home but am worried the offer I believe this home is worth (if/when the market slows down) will turn the buyer off from consideration all together. 1) I am looking for a "forever family home" and I believe I've found it 2) Home is listed for $349,900. It has been on the market for 24 days with zero offers. After 20 days, sellers reduced price $20,000(from $369,000) 3) Home needs updated throughout aesthetically/for comfort(currently has no AC. I would like my "forever home" to have zoned mini-splits throughout anyway so this is a perfect scenario for me). Home has city water, septic field, boiler(recently replaced - new condition), 50 gal direct vent water heater (recently replaced - new condition, in ground pool (heated, all equipment less than 3 years old). As a builder/remodeler, to fully update in line with current market, it would cost around $170,000 to bring up to 2019(it was built in 1974. I can obviously complete renovations for a fraction of the cost it would cost an average buyer but if I were bidding this home out for a complete interior reno, i would not come under 170k to do it well). Bones are in excellent condition. 4) I can be easily approved for the asking price but in my opinion, it is listed too high for what it is(in that it is very dated on the inside, is about 200 feet onto a dirt road from where pavement begins, school district is not very good. Schools do not matter to me as I will be sending my kids to the private school I went to growing up) I want to offer $260,000 as I believe that is what it is really worth if we were not in a sellers market..but I do not want to piss off the buyers with my initial "lowball" offer and ruin my chances of a smooth purchase. I do really love the home/location (perfectly located for my main area of work, has 3 acres of land attached, pole barn that would need massively renovated but is still there for me to store tools/equipment) Info after speaking with Realtor(not listing agent, a younger realtor that was there for the open house that had one other couple come in and quickly go out). 1) She believes sellers are extremely motivated to sell quickly(sounded to me like they may need to sell the home asap...which is why I was thinking of lowballing and seeing what the counter would be) 2) Escalation clauses are rampant in my area given the relatively low inventory for homes and high influx of jobs coming from out of state...but when asking the realtor on-site if they think one may be needed that is when i found out there have been zero offers and not much activity on the home...and that they think it would not be needed at all for this property. No activity is weird for this area considering homes being listed and sold within 3 days at well above appraised value is commonplace) What would you offer? I may be over thinking this because I can see staying in this home until the day I die not to mention the tax benefits of the property/pole barn for my company...perfect for me but not for many others to make a long story short. TLDR; Listed for 349,900 currently. Price dropped 20,000 from 369,900 within the first 20 days. Home is 24 days on market currently. No offers coming in even though the market is extremely hot in my area. Needs complete update on the interior to bring to 2019(1974 throughout the home currently...popcorn ceilings, wood paneling, wallpaper and all). Sellers seem desperate to sell. [link] [comments]  |
| Posted: 18 Jun 2019 04:28 PM PDT Hi all. I will likely be entering escrow on a multi-unit property soon, and already have a renter who wants to move in. What's unique is that the renter is a government program that provides housing for veterans. They pay above market rent and generally keep the property up, but they also pack as many people in as possible. Would it be fair to do yearly rent increases of 1-3% even though they pay above market already? Or will I just scare them off? Thanks [link] [comments]  |
| Posted: 18 Jun 2019 09:37 PM PDT The pool at a new rental property seems to leak water faster than evaporation should account for. It's too dirty to see the bottom now, but older images seem to show some kind of repaired area on the bottom. Should I be concerned about the leaking water washing away the earth underneath the pool? Anyone ever had to deal with this kind of problem? [link] [comments]  |
| Is it possible to rent an apartment with a bad referral from previous landlord? Posted: 18 Jun 2019 09:22 PM PDT So I majorly screwed up with my current (now previous) apartment manager-- I was able to figure it out, but he is definitely very angry and probably wouldn't give a good referral. I was a very good tenant otherwise, have good credit, etc. How badly would this screw up my chances of renting in the future? The next apartment I rent would definitely have other people on the lease, not just me. Furthermore, I think he's leaving his position in the coming months, so by the time I would need to rent a new apartment (I'm moving in with someone else for the foreseeable future) he may not be there to say anything about me. [link] [comments]  |
| PMI- Recheck score before closing docs are finalized? Posted: 18 Jun 2019 05:35 PM PDT Back in April when I locked in my rate, my credit score was 747. What's weird is Credit Karma and all of my bank's "credit score" showed over 800. So now I'm 11 days from closing and I'm wondering if I should run my credit to try and get a lower PMI payment. There would be a monthly savings of about $30. But if by some dumb chance it went DOWN, I'd pay about $30 more. I don't think there's a reason for it to have dropped. I've only paid off debt, including selling my other home on May 24, so that debt should have fallen off, too. Thoughts? [link] [comments]  |
| Borrowing from Roth IRA to hit 20% Down Payment? Posted: 18 Jun 2019 12:45 PM PDT Hi - I'm currently looking to buy my first home, priced around $160k. I was initially planning to put ~$20k down and pay PMI, probably around $1k/year. However, I have $45k in a Roth IRA (and 10k in a 401k) and am strongly tempted by the option of taking $12k of my Roth contributions to boost me to a 20% down payment and avoid PMI, possibly with a slightly better interest rate as well. I have not yet contributed to the Roth for tax year 2019, so I could put $6k back in by the end of the year, to limit the damage to my account. In that case, the missing $6k would only have earned ~$410 over the course of a year (based on average return), while PMI would cost ~$1,000. I am also not maxing my 401k yet, so I could increase those payments thanks to a lower housing bill. Am I missing anything? I understand taking a full downpayment out of the account would generally be a bad move, but this seems logical to me since I'm relatively close to 20%. [link] [comments]  |
| Submitted offer, seller asked for highest and best by 5pm... Didn't hear back. Posted: 18 Jun 2019 07:56 PM PDT We toured a gorgeous 1908 bungalow yesterday and submitted an offer for $4k under asking because it does need work in the kitchen and bathroom. Found out this morning that another offer was also submitted yesterday, but that ours was "better". Still, the seller asked for highest and best by 5pm today. They're also in Florida on vacation. We told our agent to just go up to asking. We're not asking for anything from the seller. We just want the house. We're FHA, and I assume that if we were the best already, that the other buyers are likely FHA as well with a lower offer. We thought we'd hear back this evening and didn't. My stomach is in knots waiting. We really want this house. I just needed to get that out. I'm nervous. [link] [comments]  |
| Posted: 18 Jun 2019 07:49 PM PDT As the title says, the builder/seller upped the newly build house price from $225k to $230k during the appraisal period because of "upgrades". the appraisal came back at $225k. My loan officer recommended I created an amendment for the sales price being $230k so that the VA can see that in the original contract as they review the additional comps to support the $230k sales price, WHICH I HAVE NOT YET FILLED OUT. Now I am fully aware of a VA Loan and it's funding fee and so is the title company as they have talked to the Loan Officer and have given him information so he can estimate closing costs. I notified the builder/seller of what the loan officer told me about creating an amendment so that I can make my case of against the appraisal and he came to me with this: https://i.imgur.com/U8kwrwg.png My question is this, the title company should know that $4,837 of that $229,837 is the VA funding fee right? So why are they including it in B if the seller won't see that $4,837? They should know that $229,837 is my total financing amount, with $4,837 going to the VA and the $225k original sales price would've been going to the builder/seller at closing right? The way I am reading is that I just pay $163 on top of closing costs or am I way off on this and I will pay $5,000 additional at closing? [link] [comments]  |
| Posted: 18 Jun 2019 07:30 PM PDT How do they typically figure up the cost of your title insurance? Is there a formula they use? [link] [comments]  |
| Posted: 18 Jun 2019 07:23 PM PDT |
| Posted: 18 Jun 2019 02:58 PM PDT My wife and I know nothing about real estate taxes and we need good solid tax advice. We bought a townhome in the Bay Area in'09 for 220, paid it down to 160. We're guesstimating that it would go for around 500-550. I did a quick google for capital gains tax calculator and it says that we should pay 100 grand in taxes which seems like a huge portion to me. It can't be right. After the 100 grand, realtor commissions, moving costs, staging, it feels like a great deal of our profit would be gone and leave is with very little to buy a new place in Los Angeles. We need advice about how we can sell it, while keeping as much of the money as possible and not get hit with a big capital gains tax; which I don't even know what that is, but I hear it can take a good portion of your profit. My wife and I are very middle class with no financial education and this is probably the biggest amount money we will make in our life at one time. We hope to use some for a down payment for a home in LA, save a bit and invest the rest in retirement. Who should we search for to give us the best advice; a tax lawyer, real estate tax guy??? I have no idea. Suggestions? Thoughts? Edit*. Sorry about the confusing title to this post. I am in a loud restaurant and didn't catch it before posting. Loud music and popping balloons have me distracted. Senior Frogs, you know... [link] [comments]  |
| Offer accepted over 2 weeks ago - FSBO never changed Zillow listing to pending Posted: 18 Jun 2019 06:23 PM PDT Appraisal has been complete , inspection done . But the owner still hasn't changed the Zillow listing to pending and also still has a for sale by owner sign in the front yard . Everything seems to be going along as planned but it's still a little unnerving . Would it be strange to ask them to change the listing to pending ? [link] [comments]  |
| Posted: 18 Jun 2019 05:49 PM PDT I'm the buyer in a residential purchase transaction. We were supposed to close tomorrow but the seller is saying they need more time to remove their stuff and to find a rental. Originally I was going to allow them to rent the house out for another week so we could close. However, since there's mold inside the house I don't want to be liable for renting a house contaminated with mold, even if they are aware of the mold. What should I do? Even though I know they are under contract and could be liable for breach if they try to back out, I'm afraid they'll try to back out and I don't want to deal with the headache of a lawsuit. [link] [comments]  |
| Converting a 1bd condo to a 2bd the right way Posted: 18 Jun 2019 05:43 PM PDT I am really considering converting my 780 so ft 1bd 1 bath Wisconsin condo into a 2 bd. It has a really large living room that would allow me to wall off a second bedroom and still maintain a small 120 sq ft living room. The tentative room would be 12' 6" / 8'8". This would also allow for a 24" deep closet and still keep the second bedroom over 90 sq ft. I would only be adding walls no removing, so no violation of the condos by - laws stating that improvements may not affect building integrity etc.. It does state that I have to have a " some wording equivalent to a blueprint or plans" and pay to have the condo plats updated and comply with local laws and regulations. The ask - can someone experienced in a similar task advise me? Cost expectations of documentation and legal costs to do properly so I can one day sell as 2bd , potential problems or things I may not have thought of. Please advise and can't wait to hear from r/ realestate [link] [comments]  |
| Understanding Conforming and Jumbo Loans Posted: 18 Jun 2019 01:17 PM PDT I want to make sure I am understanding the thresholds for a conforming loan and a jumbo loan. Is the limit based on the purchase price of the house? Or the actual amount I am financing, so purchase price less down payment? [link] [comments]  |
| How do I get a line of credit from a bank to flip houses? Does my strategy make sense ? Posted: 18 Jun 2019 12:22 PM PDT I'd like to have access to a $120k or so line of credit . I would use the line or credit to purchase a distressed home (so essentially the same as buying with cash ) . Then I would use my own funds (I have approx. $70k) , to rehab the house. After rehabbing the house, I would cash out with an 80% LTV mortgage. The funds from the mortgage would be used to pay down the line of credit and if anything is left over I would replenish my personal 70k in funds. Rent the property out and then rinse and repeat. A decent amount of the rehab I would do on my own. Can I find a bank to offer a line of credit ? Is there a better strategy then this ? [link] [comments]  |
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