Ethical dilemma Real Estate |
- Ethical dilemma
- My realtor admits screwing up but he’s a friend. Need some advice
- What is considered living Uncomfortably/Mortgage broke.
- Was I overreacting? Agreed to all counters but sellers still want to wait before accepting my offer. (NJ)
- I knew it!
- Can I fire my real estate agent?
- Buyers agent vs realtor
- Are property taxes based on the sales price or appraised price?
- Polling residential turnaround and rent time
- How fast can a title company close a land contract
- Short sale house under contract, after our offer was refused, could we still submit another higher offer?
- Competing listings in same condo building
- Multiple forgivable grants/ liens on a property
- First time renting a house with friends.
- Keep pushing closing back
- Does anyone use the Nextdoor app?
- elderly disabled mother refusing to not move out of a house that she is not on the title or pays any bills.
- putting an offer on a house with asbestos encased pipes and a radon mitigation system
- Homeowner violated our lease and we're now in a bit of a dispute, not sure how to proceed
- Sellers countered us, we agreed and signed...then waited, now they countered us back for more
- Does realtor have my back?
- Purchasing a property for income in another country.
- Are bathtubs really necessary?
- [CA] Refinancing a home, wondering if I can have my sister home during the appraisal instead of me?
- Questions about buying my dad's house
| Posted: 08 Jun 2019 11:43 PM PDT I recently sold my house. As in, all contingencies are met, deposit is paid, escrow closes in 15 days. So I went looking around at other houses I found on Zillow. My realtor was supposed to find me homes and I sent her a list of homes I'm interested in. She went on vacation this weekend so I went to an open house on my own. I found a house I liked and spoke to the sellers realtor. For some background, I am deaf and rely on lipreading which is not completely accurate. I explained what I liked about the house and what I disliked. She said that she knew just the house I would like and asked to show it to me after the open house. I accepted. When I arrived I thought the person in the home was the homeowner. I fell in love with the house and now want to buy it. I later realized the person in the house was the selling realtor, and the person from the open house was acting as my buying realtor. This threw me off but I wasn't sure what the implications were. When I got home I talked to my realtor about how soon I would be ready to make a solid offer to the home I loved and she moved forward with getting the financial details together. Just now I was reading this subreddit and saw a post about how the realtor who shows you the home you end up buying would be the one who should get the commission as the procuring agent. And now I'm a bit confused about what the ethical thing to do here is. My utilization of the realtor from the open house was based on a misunderstanding due to my communication most likely. I never indicated I already had a realtor because I assumed she was showing another property she represented. Thoughts? [link] [comments]  |
| My realtor admits screwing up but he’s a friend. Need some advice Posted: 08 Jun 2019 08:19 PM PDT We put an offer on a house with a $1,000 earnest money. Contract said inspection was for info purposes only but also includes a paragraph saying we got earnest money back if we found structural problems. My trusted inspector sent report that foundation was severely compromised and excavation would be needed. I told my realtor (my friend) we wanted out. He said no problem and that he'd fight to get our earnest $ back too. Didn't hear anything for a week. Then, I got a text from his secretary saying the contract was good to be canceled and she was sending me paperwork to e-sign including release of the earnest money. To be fair I didn't read the docs but just signed them assuming all was well and that we'd be getting $1,000 back since i never heard the seller had any objections. After waiting a week, I call my realtor to ask when I'd receive $. He said "oh, I missed a step and forgot to tell you that the seller didn't want to release the money back to you. Sorry, we fought as hard as we could but he wasn't going to budge. We'll get you a better house in the future. Sorry I should have told you.". I called him and said I would've never agreed to releasing earnest money to seller as my brother is a real estate attorney and it was clear from the contract that we could get $ back for structural problems. My realtor said "yes I should've consulted with you but you should have read release form before signing.". He offered to write me a check for $500 to cover half of my losses. My wife thinks he should give us $1,000 back since he never discussed the situation with us and let us give any input. I could have had my brother challenge the contract for free. I don't want to start a "holy war" over losing $500. But, my realtor admitted that he never communicated with us end just had his secretary send the docs. Any thoughts on how to respond. We do a lot of biz with him and sent him several qualified friends/neighbors that he's made $ from because he's been an excellent realtor until this screw up. Looking for some input. Thanks! [link] [comments]  |
| What is considered living Uncomfortably/Mortgage broke. Posted: 08 Jun 2019 02:21 PM PDT Hey Reddit, Can anyone share examples that they may have lived through where they were living uncomfortably, where they knew they shouldn't have purchased that home so I can get an idea what that actually is. I really want to buy a townhouse I've been looking at with my wife, and I keep calculating over and over again if we should do it, its brand new still in construction. We got pre approved for a mortgage $620,000 ( pretty much the price of the townhouse ), my wife is worried we would be struggling possibly but I think we will be fine. I always read people saying only do 30% of your income towards the mortgage when we will be hitting at least 40%. If I still have $2000-3000 left towards us is that not good? I know its hard to say without me giving how much we make and what other bills we have, but basically in the end with all of our bills, vehicle gas, mortgage, internet, hydro ect… we are looking at 60% of our total income together going towards all of that. I don't know know maybe I'm just waiting for someone to yell at me DONT DO IT but I want the place so bad. We live in Vancouver B.C. and first time home buyers. [link] [comments]  |
| Posted: 08 Jun 2019 05:13 AM PDT This house had two deals fall through in the past year and it's been on the third listing for about two weeks. Listing price is 600k and I offered 570k with 5% down. We are also the only offer the sellers have. They countered at 600k and we said yes because I love it and I don't want to lose the house. Few hours later they ask if we can up the down payment, I said yes no problem we can do 10%. This was on a Thursday and they said they'll make a decision Monday. I told our realtor to withdraw the offer. We are the only offer and we're giving everything they've asked for. I don't want our offer to be used as leverage. My thought is that if you come to the negotiating table and you get everything you want, you should be ready to accept. They ended up accepting since I threatened to withdraw but I'm curious if this is reasonable of the sellers or if I was overreacting. Edit: Thanks for everyone for commenting. Lesson learned here is:
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| Posted: 09 Jun 2019 12:20 AM PDT About 4 months after I closed on my property in southern California, two neighbors in the same complex are having a hard time selling their units. Plus, another unit down the street just fell out of escrow. And they were asking 20k less than what I paid for. To be fair,my unit and complex are a bit better. Still, property market peaked when I bought it [link] [comments]  |
| Can I fire my real estate agent? Posted: 08 Jun 2019 11:34 PM PDT I don't trust my agent. He has a cozy relationship with the seller, who is also the agent for the property. During the inspection period, he was constantly texting with the seller about the issues and repairs needed. Their relationship seemed advantageous during the price negotiations. But now I'm concerned he will disclose something to the seller that we have talked about, or worse. What does it take to fire him? Do I need proof of malice? Or is not trusting him enough.?What happens to his commission when we close? [link] [comments]  |
| Posted: 08 Jun 2019 10:19 PM PDT Are they basically the same thing? I am looking for a buyers agent in our area and I am not finding anything but realtors. We are a small town so I don't know if that plays a part or what. [link] [comments]  |
| Are property taxes based on the sales price or appraised price? Posted: 08 Jun 2019 09:55 PM PDT Title. The home was appraised about 2 weeks ago for the original asking price. A week later, the seller agreed to take the credits I would receive from the agent and him for repairs, and subtract it from the original asking price. Now I have a lower price home with a slightly higher appraisal value. Looking over the most recent closing disclosure, I've noticed the property taxes that would have been for the original sales amount was the same property taxes for the lesser value. I think the amount should be lower since the same percentage is used. Question: are property taxes determined by the appraised value or the final purchase price? [link] [comments]  |
| Polling residential turnaround and rent time Posted: 09 Jun 2019 03:46 AM PDT For the residential property managers / landlords in your city what is your shortest, longest, and average time needed to turn a property and rent it? What are the better neighborhoods? What are the more challenging neighborhoods? Thank you in advance for sharing your insights. [link] [comments]  |
| How fast can a title company close a land contract Posted: 08 Jun 2019 09:35 PM PDT Wondering how fast can a title company close a land contract deal? [link] [comments]  |
| Posted: 09 Jun 2019 03:21 AM PDT Realtor is telling us no because it's under contract but I've read some conflicting information. [link] [comments]  |
| Competing listings in same condo building Posted: 08 Jun 2019 09:23 PM PDT I listed my condo this week. At the time, I was the only condo in my building on the market and I have lots of time, so my realtor and I decided to list at 410, 10k above a comparable unit that closed last week (at 100% of asking). We marketed the hell out of it and had an open house too today. We had great turn out One issue arose during the open house. One of my neighbors showed up and sat on my couch and started trashing my unit in front of potential buyers.y realtor removed him from my home but the damage was done. My realtor mentioned this to me at our wrap up meeting. Frustrating, but with a promising turn out considering the crappy weather and the relatively high price point we decided to move on Then , 2 hrs after my open house, my neighbor lists both of his units. Priced at 10 and 25k below mine. I'm not sure where to go from here. I could drop price to match his, but it's only been 5 days and who knows how low he would go. Or I can wait and see and risk my condo sitting and then having to reduce price cause people assume something is wrong with it since I'm in a hot market. For reference, my unit is in nicer condition (updated kitchen, bathroom, built in closet, better layout). But his are on the top floor which means no noise from neighbors- we live in an old building so noise can be a factor. I'm curious what you all would recommend in this situation. [link] [comments]  |
| Multiple forgivable grants/ liens on a property Posted: 08 Jun 2019 07:35 PM PDT Hi everyone, First time home buyer here (and first time poster) looking to buy a co-op in NYC. I was wondering if anyone had any experiences with down payment/closing cost assistance programs and how they affect the property that I'll be buying. I'm already pre-screened for a down payment assistance program and met all the qualifications for it. I was told by my counselor that there was another program similar that I could apply for which would be able to put down a similar amount. Both of these programs have a term of 10 years of residency before the loan could be forgiven. I assume that this puts a lien on the property until it is either forgiven or I break the terms and pay back what I owe. At the same time, the bank that we are getting our mortgage from is also advertising another assistance program which would be an additional forgivable grant but from the bank itself. This one has a term of 5 years. Would this be considered 3 different liens on the property? And if so, is this allowed? Would either the lending bank or the co-op board give me issues with this if it is allowed? I've gotten a mix of answers from the counselors and banks that I've been asking so I was wondering if anyone had experience with this. Thanks in advance! [link] [comments]  |
| First time renting a house with friends. Posted: 08 Jun 2019 07:51 PM PDT Hi, I am a first-year, going on to second year college student. I am no longer able to live at the dorms, so me and my friends (5 including me) will be renting a house, and I just had a couple questions. Firstly, school starts in September, so that leaves 2 1/2 months where I will not be living in the house. Will I have to pay rent for these months, and is there anyway around this? Also, is there anything I should generally watch out for. This is my first experience renting a house, and it has kind of been overwhelming. [link] [comments]  |
| Posted: 08 Jun 2019 05:24 PM PDT Recently my parents sold their million dollar home, and the original close date was April 29th, but here we are in June. Every week it's been something for the buyers to keep pushing it back. It's getting to the point where it is very strange. Any insight? [link] [comments]  |
| Does anyone use the Nextdoor app? Posted: 08 Jun 2019 06:39 PM PDT When messaging someone on there inquiring about goods they are selling, does it show them your address? The app required you to put in an address when registering to use it. [link] [comments]  |
| Posted: 08 Jun 2019 05:43 PM PDT My mother is living in a single family house and is unable to walk. She is in her early 70's and receives a 40 hour per week personal care assistant thru medicaid. I can not get him to leave the house. It is under my name and I pay all expenses (i.e. mortgage, taxes, etc.). I want to put it for sale and my mother refuses to leave the house. He has threatened to disrupt any showings of the house for prospective buyers by shouting "this house is not for sale." He has already threatened to harm himself so I wont put it on the market. I have offered to put my mother in senior housing under my dime but does not want to "downgrade" to an apartment. I have also looked at a health care facility and assisted living but they all have more than 1 year waiting lists. What can I do? I want to get him out of the house and sell it. Also, the house has always been under my name and has never been her house. She has never paid a dime except for gardening. [link] [comments]  |
| putting an offer on a house with asbestos encased pipes and a radon mitigation system Posted: 08 Jun 2019 08:59 PM PDT Should those things be deal breakers? Are we just asking for headaches later on or are these typical things that are OK? [link] [comments]  |
| Homeowner violated our lease and we're now in a bit of a dispute, not sure how to proceed Posted: 08 Jun 2019 08:29 AM PDT Montgomery County, MD A few weeks ago we became aware of our homeowner vising the property we're renting without notice. The reason they gave the leasing agency is that they wanted to check up on the front and back yards. They eventually complained that we were not meeting our responsibilities for grounds maintenance according to the lease. They sent at least one contractor out to take pictures for a quote and eventually sent a duo out to do the work they were requesting, all without notice. Because this was a surprise, we were unable to take pictures of the state we were keeping it in. From my discussions with the leasing agency, they were generally unaware of what the homeowner was doing until it was too late, but they went to bat for them anyway. They were requesting that way pay for the cost of this yard work and I argued, perhaps successfully, that the work being done went above and beyond our obligations. The relevant sections simply says we must keep the grass and weeds below a foot and keep the grounds in good condition, which I know is vague, but in our minds a condition we were meeting. The work ordered by the homeowner was primarily cosmetic and cut many things back to a state they weren't in when we moved in. The leasing agency still wants us to pay for part of the cost, which we're open to, depending on that cost. We're also opening to continuing to maintain the yards to keep them at or around this standard, depending on the monetary/time cost. My biggest concerns are the violations of the lease. I'm not happy that they overstepped their bounds, I'm not happy that the leasing agency attempted to put a new definition of grounds maintenance on us (they didn't disagree with what was in the lease when I pointed it out, but did use language not found in it in their demands), and I'm not happy with the prospect of them doing this again. What kind of recourse might we have for ensuring the homeowners and leasing agency respect the lease? [link] [comments]  |
| Sellers countered us, we agreed and signed...then waited, now they countered us back for more Posted: 08 Jun 2019 04:33 PM PDT Is this normal?? Through our negotiations this week they came down a lot (asking 424, our "final" price was 406) House has been on the market 80 days and was way overpriced to begin with(450 to start). We signed that counter the other day, then apparently the husband was "out of town" and couldn't sign. (OK somewhere without internet? Hmmm) Finally after 24 hours my agent tells us that they want to remove the warranty we had included because they were having the pool opened and serviced which was nice. Ok, fine we still have repair negotiations in the future so I need a little leverage. After another 24 the wife apparently is not happy with the agent and feels like the price was wrong. They are now asking for 4k more at 410. This might seem like a stupid small number in the scheme of things but is this a crazy red flag or completely normal? [link] [comments]  |
| Posted: 08 Jun 2019 06:36 AM PDT Selling $630k home. Been on market for 42 days now. Have had a lot of interest, but buyers backed out due to garage size, pool depth, neighborhood, etc. everyone says house shows beautifully. Going through new home building process, still many months before home is ready and really nowhere to go. Realtor talked me into a price drop at $625k. Before we could enact it, get a showing that turns into an offer at $600k. Our counter is $625k but we throw in a ton of appliances and media room equipment. Realtor tries to talk me out of counter saying my home won't appraise for $625k. I told her we could approach the appraisal bridge when it comes. She continues to come back to me about how this isn't good. Why the fuck would you list a house at $630k and then not be OK with giving a counter at $625k with about $20k in furniture/electronics? Seems like my realtor no longer has my back and just is pushing for a deal. [link] [comments]  |
| Purchasing a property for income in another country. Posted: 08 Jun 2019 04:11 PM PDT I've been thinking of purchasing a property in another country for income. I have not looked into the process much, I was just wondering if anyone has any experience with this. Thanks. [link] [comments]  |
| Are bathtubs really necessary? Posted: 08 Jun 2019 12:08 PM PDT I recently purchased a condo in the north Seattle area. I want to completely renovate the bathroom. It's an 800sqft 1/1. A spa shower would look lovely in the place, but I have been warned about not having a bathtub for resale value? Is there any facts proving that getting rid of the tub is a bad idea? [link] [comments]  |
| [CA] Refinancing a home, wondering if I can have my sister home during the appraisal instead of me? Posted: 08 Jun 2019 03:44 PM PDT I'm refinancing my home in CA because my ex and I split and I'm buying him out. The next step will be to have a bank-instituted appraiser come to the home to make an assessment. My loan officer said I need to be there for it, since I am refinancing it as my primary residence. The problem is that, although it IS my primary residence, I work as a consultant so I get assigned to project all over the country. I'm currently on the east coast and my fiance and I are staying at his house during that time. I'm toying with the idea of having my sister, who is local to the area where my home is, be present instead of me. I don't know if the appraiser is going to somehow verify that it's me or not, or if there will be paperwork to sign. Does anyone know?? I would travel back, but it's tough right now since I'm swamped at work, and I'm also pregnant and rather not fly. Thank you for any responses. [link] [comments]  |
| Questions about buying my dad's house Posted: 08 Jun 2019 10:45 AM PDT My husband and I are looking for a house, and my dad has knee problems/wants to move in with his girlfriend, so he has offered to sell his house to us. It meets all of our criteria and he's offering to sell it to us for below market price, so it's a win/win. I have some questions about how this would work: 1) Do we still need a realtor? Does my dad need one? What about appraisers/inspectors/etc? 2) My dad made some internal updates to his house (changing half bath to full, etc), but it has not been appraised internally for many years and is being taxed at what I suspect is a lower rate than it might be if someone were to re-appraise. We'd obviously prefer to keep the tax rate as it is--is that possible? 3) Is there anything else we should know/consider if we choose to move forward, legally or otherwise? Thanks! [link] [comments]  |
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