Have there been any updateS to the person who had an offer accepted but the house had a prior contract? Real Estate |
- Have there been any updateS to the person who had an offer accepted but the house had a prior contract?
- Is a "starter house" really necessary?
- Real estate investing in the US as a foreigner - has anyone done it and can give some advice?
- Seller wants to push closing
- Trouble Getting a Lease and My House is About to Close.
- Tips for selling a Vacant House?
- [ID] first time buyer, underwriting hell, shaky sellers, any advice please
- Second day into my new rental, and the refrigerator broke...
- Does fixing this trailer house up make sense?
- Can buyer's attorney tell title company to stop payment on a check AFTER closing, and will the title company do it?
- Can I buy a house without Trelora after signing a contract.
- Are Piggyback Loans Still a Thing?
- Occupancy Agreement - Maintenance Question
- Does a Realtor/Broker Get Paid Their 6% Commission if They Sell to Themselves?
- Looking to get opinions on selling my house.
- Recommend me Buyer agent for [NYC-SI-COOP]
- PMP and Construction Management
- Questions about my agent
- Beaten by way over asking price offers
- Selling House (TN) - Three Offers on the first day? Did we mis-price?
- Will I pay tax on a house lived in only for 13 months if I’m sold it for more than I bought it for?
- Does this sound like a good agent?
- Cheapest home to buy in tristate area?
| Posted: 02 Jun 2019 05:33 PM PDT Super interesting story and I'd love to know how it turned out. [link] [comments]  |
| Is a "starter house" really necessary? Posted: 02 Jun 2019 05:35 AM PDT I've had a ton of people tell me that I should be looking small and cheap for my first house, because it won't be the last one I buy. Well, I get that I may move years and years from now - but we aren't having kids, are staying in the city where we are, and have no real need for a huge house. Is there actually a reason we should still start off with a "starter house" instead of just buying a place that we intend to stay in for decades to come? This seems like a no-brainer to me, but the sheer number of people insisting that this is a foolish way to do it has me wondering if I'm missing something. [link] [comments]  |
| Real estate investing in the US as a foreigner - has anyone done it and can give some advice? Posted: 03 Jun 2019 02:43 AM PDT I want to start a rental property portfolio on the states as I have some money to invest now. Can someone who doesn't live in the US tell me a bit about his/her process? How did you start, did you partner with someone local or just brokers and a solid PM company, how did you secure financing etc [link] [comments]  |
| Posted: 02 Jun 2019 01:29 PM PDT My husband and I are first time buyers. Found a house, offer accepted, signed paperwork. Seller wanted one month to get rid of all furniture in home. We agreed to it. Keys given at closing. Closing is now in 4 days and our realtor just texted us saying the buyer needs another week because wife is in hospital. New house is close so we drive by and they are sitting in garage, having garage sale. Wife in seemingly good health. We have signed an contract for them to be out by our closing date. Now they have requested us being open to using the garage for all of their stuff until it sells. I do NOT want this. We have a TON of stuff to put in garage because there is no basement. What are my options here? We have taken work off for this move, got the moving truck paid for and my entire house is packed. [link] [comments]  |
| Trouble Getting a Lease and My House is About to Close. Posted: 02 Jun 2019 11:06 PM PDT I live in Chicago and have recently sold my house — or right about to rather, since closing is on the 25th. I had no mortgage. I am unfortunately unemployed right now and also a full time student. Despite this I have very good finances. I have saved a significant amount over the years and have had some luck in the market. The gains on the house sale have also been kind. I pose zero risk to them. Anyway, I have been turned down from three apartments now because I can't show that I have any income. I recently created a trust, cleaned out my old checking account, and put everything into the new account. The balance would make them happy, but the deposit history is like a month old. On top of that, my accountant — who I've used since I was like 15, or something — files for an extension every year and doesn't get them back to me until like August, so I have no current taxes I can submit. How then can I realistically show these landlords that I can pay the goddamn rent? I have no problem writing a check for the whole year upfront, but that would only work if I could deal with the owner and not an army of different agents. I'm going to the bank tomorrow to see if they can like write something explaining the balance of the trust and how much available cash I have. I don't know. I'm terrified that my only option is going to be finding some random craigslist ad and moving to bad part of town where the landlords only want to see cash. [link] [comments]  |
| Tips for selling a Vacant House? Posted: 02 Jun 2019 04:40 PM PDT Our buyer's loan fell through a week before closing but we are pushing through with our cross country move while we relist our house. We are leaving some (like 4 pieces) of furniture with the home (and are including in sale if new buyer wants them), but the rest that we used for staging is coming with us. The good news is we had excellent pictures taken of our house while it was staged. The bad news is we have to get our house back to "show ready" when we were planning on "broom swept" this week. Any tips for getting a vacant house ready for viewings? Or things that we should do for insurance or appliances to save money, etc? We have relatives nearby that will check on it every few days for us, and keep up with yard maintenance. Thank you! [link] [comments]  |
| [ID] first time buyer, underwriting hell, shaky sellers, any advice please Posted: 02 Jun 2019 06:45 PM PDT I am going to try and unpack this the best I can so any advice would be awesome. Me and my wife are first time buyers we spent all last year working on credit repair and saving money. We found a home with our agent and our lender gave us a pre approval. Made our offer, a little back and forth and signed, inspection is good, paperwork is processing now we get to the issue. Our lender is trying to get us through underwriting but he says he can't get approval on his computer underwriting system, he has a do a few things to help our credit even though he says everything what he sees looks good. Computer still gives us a red light, he sent it in for manual underwriting Friday and hopefully will hear back tomorrow but he is not confident manual will get approved even though by all math it should and no one knows why the computer is denying. We are preparing to negotiate with sellers an extension because we in good faith thought we would be fine but closing is coming fast and we still are in underwriting. Has anyone else been through this or has any advice?? [link] [comments]  |
| Second day into my new rental, and the refrigerator broke... Posted: 02 Jun 2019 04:32 PM PDT Ok, its not super broken, but their is a really loud noise coming from the freezer. Quick Google search says it could be a faulty exhaust fan or something like that. I'm not to handy, and more importantly I dont want to start messing around with the insides of a fridge to attempt to fix it. Its my second day in this rental, and I'm wondering whose responsible for this? The noise isnt terrible, but I work from home and would definetly be inconvenient for my phone calls. The noise can be heard throughout my place. The language of the lease reads as following: The Lessee agrees with the Lessor that, during this lease and for such further time as the Lessee shall hold the leased premises or any part thereof, the Lessee will at all times keep and maintain the leased premises and all equipment and fixtures therein or used therewith repaired, whole and of the same kind, quality and description and in such good repair, order and condition as the same are at the beginning of, or may be put in during the term or any extension or renewal thereof, reasonable wear and tear and damage by unavoidable casualty only excepted. The Lessor and the Lessee agree to comply with any responsibility which either may have under applicable law to perform repairs upon the leased premises. If Lessee fails within a reasonable time, or improperly makes such repairs, then and in any such event or events, the Lessor may (but shall not be obligated to) make such repairs and the Lessee shall reimburse the Lessor for the reasonable cost of such repairs in full, upon demand IANAL, so I'm not sure if this helps or hurts me. Any advice? Landlord is on vacation, and they seem nice, but their is an amendment in the lease saying that I am responsible for toliet and shower repairs, so I am not sure how they feel about appliances. Located in MA btw. [link] [comments]  |
| Does fixing this trailer house up make sense? Posted: 02 Jun 2019 10:07 PM PDT I have all of the lights, exterior paint, furniture, countertops, sinks, appliances, decor, toilet, shower/tub, etc. for it and it is already paid for on a pad on paid-for family land with a light pole and septic system. All it needs now is electrical and plumbing work (which a licensed professional friend of the family agreed to do for material costs only), drywall (which my father-in-law and brother-in-law can do for me for material cost only as well). It is a trailer from 1960s-1970s, but we have already repaired the flooring, roof, painted the porch, and purchased exterior paint. It has a breaker box, electric water heater, and a three brick gas heater as well. We even have a gas tank free of charge! Would it be worth it to underpin it, finish walls inside, repair electrical and plumbing issues (minor), and put it all back together? I'm a college student with a low income and my partner is low income as well and planning to attend school in the fall, so we can't afford to rent or buy anything newer. Any advice, opinions, tips, tricks? Please help! People keep calling me stupid and trashy over it and I just don't understand. [link] [comments]  |
| Posted: 02 Jun 2019 11:17 AM PDT This is after closing. Everything was signed. Checks were written and mailed. Mortgages paid and funded. A few hours later (post-closing), buyer starts freaking out about a known issue in the house (known meaning it was disclosed) and tells his attorneys to tell the title company to cancel all checks and that they want to cancel the purchase. They are claiming fraud which is nonsense, but short of legal action if they attempt it, it seems they are trying to use withholding checks to force me to bargain for repairs. Is this something a title company (let alone the buyer) can even legally do, stop checks after closing? I assumed that after closing this is all a done deal, and by a title company doing this they would be acting in bad faith unless there was a court order. State is NJ if that helps. I will be talking to an Attorney on Monday, but figured I would ask if anyone knew. [link] [comments]  |
| Can I buy a house without Trelora after signing a contract. Posted: 02 Jun 2019 05:51 PM PDT I found a house I liked at an open house. Afterwards I signed a contract with trelora and had a trelora agent make an offer on that house for 410.000$. Sellers are not willing to go under 420.000$. Can I cancel the contract and offer 404.000$ (won't give me a 6500$ refund via trelora). That should save them 13000$ and bring my bid at the same level as a 417.000$ bid with an agent (eg. Trelora). Contract is quite vague, but I dont see anything mentioned about it: Buyer and Buyer`s Broker have agreed that TRELORA shall keep 50% of the commission offered by the Seller and the other 50% shall be credited to the Buyer at or after closing. Right of Buyer to Cancel. In the event Broker defaults under this Buyer Listing Contract, Buyer has the right to cancel this Buyer Listing Contract, including all rights of Brokerage Firm to any compensation if the Buyer Agency box at the top of page 1 is checked. Examples of a Broker default include, but are not limited to (1) abandonment of Buyer, (2) failure to fulfill all material obligations of Broker and (3) failure to fulfill all material Uniform Duties (§ 5) or, if the Buyer Agency box at the top of page 1 is checked, the failure to fulfill all material Additional Duties Of Buyer's Agent (§ 6). Any rights of Buyer that accrued prior to cancellation will survive such cancellation. TRELORA or Buyer may cancel this agreement at any time with written notification. [link] [comments]  |
| Are Piggyback Loans Still a Thing? Posted: 02 Jun 2019 01:41 PM PDT Are piggyback loans still a thing? We have been looking for a dream property for several years and have finally found one and put in an offer. I have plenty of cash for a down payment, but the place sorely needs a reno. We have good credit. I was hoping to do a conventional loan for about 50% of the value of the property, a HELOC for whatever is left up to the bank limit (used to be 80-95% depending on the bank, sometimes even up to 100%), and then use my cash on hand to do the reno. That way, I could pay off (or significantly down) the HELOC once I sell my current home, which isn't even listed yet. I'm confident I could put a 20% down payment and still have enough for the reno But my big issue is that I will have a hunk of cash from the sale of my current home that I would really rather use to apply to the new house without having to refinance or re-amortize (I know, I could just dump it on as extra principal, but I would end up getting a HELOC anyway because its handy for a flexible financial life). I know banking regulations have changed a lot in the years since I last purchased a house. I was intending to shop around with my local banks, but if anyone has a recommendation for a bank that is easy to work with for the scenario above, let me know. But really I just am wondering if piggyback loans are still common or if it needs a specialized lender. [link] [comments]  |
| Occupancy Agreement - Maintenance Question Posted: 02 Jun 2019 08:27 PM PDT I sold a home at the end of April and ended up signing an occupancy agreement with the buyer. I am renting the property for 50 days (sellers of my new home can't move until mid-June). The water heater on the house I am now renting went out today. The water heater was old and it's condition came up during the inspection period. I agreed to pay a portion of the buyer's closing costs in lieu of any property repairs. What is the appropriate way to deal with the hot water heater? I don't want to be a total jerk but I also don't want to pay for a new water heater when the new owner purchased the house knowing the fixture was on its last leg. Do I just pay for the service call, or should I offer a % toward the new water heater, or should I say "welcome to home ownership?" [link] [comments]  |
| Does a Realtor/Broker Get Paid Their 6% Commission if They Sell to Themselves? Posted: 02 Jun 2019 07:24 PM PDT If someone who is both a realtor and broker gets a house under contract and then sells it to themselves would they still be able to charge their 6% commission and get it in cash? Or would they only pay 6% less for the property? I am in Connecticut but if it is different in another state I am curious about this as well. [link] [comments]  |
| Looking to get opinions on selling my house. Posted: 02 Jun 2019 10:43 AM PDT I bought my first home about 3 and a half years ago for 82000 as a foreclosure it was a 30 year fixed rate mortgage at 4%. I currently owe 62000 on the home. Since I am only on year 3 of the mortgage I will be paying mostly interest for the next 10 years. The half baked idea i came up with because of seeing what houses are selling in my neighborhood and some basic estimates by a broker is I could get from 125-140k selling the home. There are some homes in a smaller town to the north around 6 miles away that are selling for 60-76k listed. I was thinking I could maybe sell my home and pay cash for one of the homes to the north. I figure I would have a extra 350-360 a month in liquid income from not paying the mortgage and with 10 years of mostly interest this would allow me to save 40000-45000. The neighborhood is also low crime so thats not a worry but the real estate prices seem stagnant up there was wondering what where peoples opinions on what i should do. Thanks for taking your time to read and let me know any questions you have to help me make a informed decision. Also if anyone has any good resources for doing for sale by owner in florida i would appreciate it thanks. [link] [comments]  |
| Recommend me Buyer agent for [NYC-SI-COOP] Posted: 02 Jun 2019 10:21 AM PDT First time home buyer so not sure the process is and many posts on here recommend getting a buyer agent that is good for first time home buyer and dealing with co-ops especially. Me and my fiancee really like this one coop and we are ready for the next phase of trying to purchase it. We met the listing agent and spoke with the current owners. we stayed in the neighborhood late at night and seemed pretty decent. I also have relatives living in the area 5-10min away they seem good with the neighborhood. Just need a buyer agent to really guide us through the process. So far i got msg from 1 buyer agent but looking for more recommendations. [link] [comments]  |
| PMP and Construction Management Posted: 02 Jun 2019 10:03 AM PDT Has anyone here competed their PMP certification and found it to be useful in Construction Management? [link] [comments]  |
| Posted: 02 Jun 2019 01:03 PM PDT So we're selling and frankly it's a bad slump in Ontario Canada. We had 3 visits on our first open house and one of them was just another agent. We stayed on MLS for 4 weeks and had about a dozen showings. We were listed at the same price a very similar house to ours next door and numerous other comparables sold for in the stronger selling 2017 market. After 4 weeks without an offer we dropped $35k since anything we bought would also be dropped in price right now. We've had 6 showings in 2 weeks at the new price but it's already tapering off. The view stats online show that there have been around 400 views. All of the feedback we've got so far have been stellar compliments but no offers. Our agent wants to run another open house, I'm opposed to it going by how much more traffic is by FAR coming from the internet. A lot of realty advice I've been reading also calls them a waste of time in today's age. 2nd question: my agent advised us to pull off the market for the summer and relist during the 2nd most successful selling season in the Fall. Should I tell her right now that my cut-off date is June 30 or wait until the last minute? I mostly trust her but want to cover all my bases regardless since I understand that agents want that commission after all and I'm worried that telling her too early might be showing my cards to quickly. [link] [comments]  |
| Beaten by way over asking price offers Posted: 02 Jun 2019 06:58 AM PDT I have recently put in a couple offers on houses and have been beaten both times. One time I offered asking price and another time I went a little over asking price. I lost out on both houses. One house I lost out on by a significant amount even though my offer was a little over asking price. So it got me wondering. If 5 offers are around asking price, why would a buyer go so far over asking price? Is it a strategy just to get the winning bid, and then try to negotiate down after inspection and the bank's appraisal? Or do some people just want a particular house that bad? [link] [comments]  |
| Selling House (TN) - Three Offers on the first day? Did we mis-price? Posted: 02 Jun 2019 06:58 AM PDT My parents are selling their home in Memphis, TN. They've listed it, and gotten three offers on the first day of it being on the market. The home is ~25 yrs old, needs a kitchen update, but has had a bathroom update and new flooring. I'm not a realtor (but I have access to sales data and excel!). Question 1: Did they mis-price it? Aside from taking the highest offer, what other options do they have (e.g. can they play the offers off of each other, or increase their price)? A $10,000 or $15,000 difference in price will make a VERY big difference to them. Question 2: The MLS listing says the house is "approximately" 2900 sq ft. I'm pretty sure it's at least 3100 sq ft. Should we care here? If people are doing $/sq ft math, doesn't that matter? If we get a purchase document from when my parents bought it and show the sq footage, can the MLS listing be updated? How big of a PITA is that? Question 3: What do ya'll think? Does this sound like they should just take the highest offer (offer "a" below) and back away slowly? The offers: a. Full price, no closing costs, $4k earnest, closing end of June, 100% conventional loan, keep the fridge, no deadline, pre-approved financing, not asking for a warranty b. Full price, ~$7k closing costs, $1k earnest, closing beginning of July, 95% conventional loan, keep the fridge, 7pm deadline today, pre-approved financing, asking for a $580 home warranty c. $5k below asking, $6.5k closing costs, $500 earnest, 100% VA loan, keep the fridge, 1pm deadline today, pre-approved financing, asking for a $500 home warranty (edited to make closing costs absolute, not percentage) The other homes in the neighborhood that are approximately the same age, same size, same number of bedrooms, and same # of stories are selling (based on past sales data and current listing) in roughly the same price per square foot (e.g. everything's between $68 and $78 / sq ft). [link] [comments]  |
| Will I pay tax on a house lived in only for 13 months if I’m sold it for more than I bought it for? Posted: 02 Jun 2019 05:54 AM PDT Hi Reddit! First time posting. I am selling a house I owned for 20 months and only lived in it for 13 months. (rented it for 7 months). My question is will I have to pay Captial gains tax if I sell it more than I bought it for because I didn't live in it for more than 2 year? Thanks in advance! [link] [comments]  |
| Does this sound like a good agent? Posted: 02 Jun 2019 11:31 AM PDT We live SF area, we love staying here except for the crazy housing market, after months of deliberation we decided to purchase a home(renting right now). We started going to open houses, met several agents at the showing but one agent seemed very warm and compassionate, he was talking about his journey and felt like he wasnt pushing us at all, he pointed out some flaws of the open house but nothing major. After talking to him, we continued to look for houses, he reached out several times via email, I eventually started to talk to him about our needs over email. After a day, I thought of checking his credentials by looking up the license number and I saw that he has been an agent for sometime and there were no red flags on his profile but the company he was working for had 1 major red flag few years ago and their operations were suspended for many months after a court order. The real estate company is good size firm but not in top 10, we are wondering if we continue with him knowing this or find an another agent. Is it normal for real estate firms to get into trouble and have their operations suspended? [link] [comments]  |
| Cheapest home to buy in tristate area? Posted: 02 Jun 2019 02:57 PM PDT I looked at Zillow and saw a "mobile" home (looks more like a manufactured home) and the price reads less than $10,000. There are also some offers for properties at less than $50,000, which seems surreal for the area - close enough to commute to NYC. Am I reading this right? Is there some sort of error in the listing? Or is there some catch like $20,000 / year taxes/HoA fees? [link] [comments]  |
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