Man says Florida villa he bought at government auction turned out to be foot-wide piece of land Real Estate |
- Man says Florida villa he bought at government auction turned out to be foot-wide piece of land
- Made an offer today. Send some good vibes!
- Modular or manufactured home??
- Fundamental problem with real estate agents
- How much info/contact will a buyer have with the seller?
- Total Assessment vs listing price
- Future investor with questions
- Magic cash down % ?
- Any experiences with Kris Krohn?
- Need advice on home built near alley
- In search of lender and settlement miscommunication stories or best practices for better collaboration between those 2 parties
- What's your process for house flipping?
- First time playing a place and don't know where to start
- Flat fee MLS listings?
- 2nd Appraisal 2 days before closing
- Agents That Also Invest
- Rent and Security deposit after break up
- Looking to buy my first home soon, what do i need to do?
- Can you sign-away the VA Escape Clause?
- Attempting to calculate how much money I would actually walk away with if I sell investment property.
- Appraisal came in 30k lower?? Please help
- Looking for ideas to help fix a mess trying to buy a house so that I don’t lose the money that I already put into it.
- My neighbor owes me money
| Man says Florida villa he bought at government auction turned out to be foot-wide piece of land Posted: 17 Jun 2019 08:56 AM PDT oh man ... has to be the worst deal of the year so far Man says Florida villa he bought at government auction turned out to be foot-wide piece of land A man who snagged a $177,000 villa for $9,100 now believes he was scammed by the Florida county that put the property up for auction for unpaid property taxes. The villa turns out to be a 1-foot-by-100-foot strip of land that separates two villas in Tamarac and is worth $50, the Sun Sentinel reports. Broward County sold the parcel to Kerville Holness at an online auction of tax delinquent properties in March. The land, which holds two mailboxes, starts at the curb, goes under a wall separating the garages of two adjoining villas and then extends out to the back, the paper reported. "If I'm vindictive enough, I can cut right through the garage wall and the home to get to my air space, but what use would that be to me?" Holness told the paper. [link] [comments]  | ||||||||||
| Made an offer today. Send some good vibes! Posted: 17 Jun 2019 01:04 PM PDT House has been on the market for 2 days in a small northeast Ohio town where houses sell super fast. There are 4 other offers being considered by the sellers. We're told they'll make their decision by today at 5pm. We offered 5k above asking price and 1k toward any inspection repairs (so, 6k over ask). We are cash buyers looking for a 30 day close. Hope we get this! Fingers crossed! Update We got the house!!! [link] [comments]  | ||||||||||
| Modular or manufactured home?? Posted: 17 Jun 2019 11:05 PM PDT Hello fellow users. I was hoping to get some opinions concerning manufactured vs modular homes. What are the pros and cons of both? What would you recommend? Can a walk out basement be installed in both? These are just a couple of my main questions, any help would be greatly appreciated. Thank you! [link] [comments]  | ||||||||||
| Fundamental problem with real estate agents Posted: 17 Jun 2019 10:44 PM PDT I'm going to be looking at buying a house soon and will be needing an agent. However, I am keenly aware that buyers agent's are normally paid commission as a percentage of the sale, and sometimes 'cooperate' with seller's agents as well. The problem is, an agreement like this doesn't make any sense from my perspective, because I'm looking to get the best deal that I can on price. I mean, how in God's name can I accomplish that when I have my agent incentivized to work against me (and even work with the Seller's) to try and maximize commission by selling at the highest price possible? This entire system seems totally backwards for buyers. Part of my caution regarding this stems from an experience when I was younger. I bought a house prior to the crash, and in retrospect I realize that I got taken for a ride by an older, married real estate couple who made double the normal commission from the seller and got away with selling me a bad place. You may think I'm a fool for this, but I genuinely thought those people were working for me and I trusted that they were helping me. So, is it plausible to anyone here, to have an agreement with a buyers agent that stipulates some kind of commission based on reducing the price on the house I'm going to purchase? Is something like this totally unheard of? I just want my agent to actually work for me and not screw me over. Thanks in advance. [link] [comments]  | ||||||||||
| How much info/contact will a buyer have with the seller? Posted: 17 Jun 2019 11:30 PM PDT I'm very young, and new to this process. Is it standard for the buyer to know the seller's name, meet with them in person, etc., or are all of those details concealed with the agent? [link] [comments]  | ||||||||||
| Total Assessment vs listing price Posted: 17 Jun 2019 10:42 PM PDT We have a real estate agent who's helping us look at houses in our desired area as our first home. She gave us a good list of houses. However, I notice that every single one of these homes have a total assessment which is much lower than the listing price, sometimes by as much as $100,000. The assessment is based on the building value + land value. This seems to be true for our desired location, but in other locations, the listing prices make more sense in comparison to the assessment prices. What am I missing? What can cause such a big gap in the difference? And does that mean we can put in offers which are close to the assessment value? This is our first home so I think my current understanding is a bit lacking. Would appreciate any clarification. [link] [comments]  | ||||||||||
| Future investor with questions Posted: 17 Jun 2019 10:01 PM PDT Hi all. So quick run down, I live with a family member, I have low rent, I'm young and single. I own my own successful business. I plan to invest in real estate very soon. I have all the knowledge and resources to do 95% of handy work needed. Would it be dumb to use a first time home buyer Loan to purchase an investment property? Possibly one that is already rented out. I've also considered purchasing a sheriff sale and rehabbing. I'm fine in my living situation right now and don't need to purchase my own home anytime soon. So just weighing options here. [link] [comments]  | ||||||||||
| Posted: 17 Jun 2019 09:52 PM PDT How much % of cash down do you suggest is the best to put on rental units to uptomise your investments? [link] [comments]  | ||||||||||
| Any experiences with Kris Krohn? Posted: 17 Jun 2019 09:46 PM PDT Hey everyone, I came across Kris Krohn on YouTube and I am wondering if he's legitimate or not. Has anyone went to his events or got partnered/mentored with him? Thoughts? [link] [comments]  | ||||||||||
| Need advice on home built near alley Posted: 17 Jun 2019 09:38 PM PDT Hey everyone, I'll keep it short. My Dad is giving me house that was built next to an alley. Yes, it's dumb as it sounds. Relative to the surrounding homes, this one seems to have taken a hit in value because of this flaw. Does anyone have any ideas on how to make this more appealing? Thanks! [link] [comments]  | ||||||||||
| Posted: 17 Jun 2019 09:26 PM PDT HI r/RealEstate ! I could use your knowledge and experience. I'm looking for stories about communication or working relationship challenges between settlement agents and lenders. Have you seen any in your time in real estate or perhaps experienced it first hand? I'm also looking for the other side of the coin. Do you have best practices for when you communicate with a settlement agent (as a lender) or a lender (as a settlement agent)? How do you think the working relationship between the two could be improved? I really appreciate all of you and your insights! [link] [comments]  | ||||||||||
| What's your process for house flipping? Posted: 17 Jun 2019 09:00 PM PDT From the hunting all the way to the closing signatures, how does your process go? [link] [comments]  | ||||||||||
| First time playing a place and don't know where to start Posted: 17 Jun 2019 08:31 PM PDT I live in NYC. So I sorta messed up and should've done my hunt/the process way earlier. So my lease ends end of July and I haven't done anything other than look at condos/co-ops on Streeteasy. I've done those pre-approval mortgage calculators thing and I should easily get those but my problem is just timing. Is it too late to start the process? I only have a month and a half to get everything together and I was wondering if that's even possible. [link] [comments]  | ||||||||||
| Posted: 17 Jun 2019 07:36 PM PDT Anyone have any experience with Flat Fee MLS listings and recommendations on who to use? Looking at Arkansas [link] [comments]  | ||||||||||
| 2nd Appraisal 2 days before closing Posted: 17 Jun 2019 01:13 PM PDT My husband and I are 1st time homebuyers in Maryland. We are taking advantage of a few different programs that can help us with closing costs while also putting the amount required down for our loan type. We got an appraisal after our home inspection and it came back above asking! Great, right? No. The house was built in 1915 and is a complete flip. Because of this and our loan type (FHA), the lender ordered another appraisal due to updated title documentation (still unclear on what this means). The second appraisal came in for lower than asking. The entire process has been expedited due to the sellers urgency to release the home. I am super anxious because we were already set to close 6/14 now they pushed it to 6/19 (Wed) while they work on what I can only liken to an appraisal appeal. What is the likelihood an FHA appraiser will recant and reissue the report with updated information after being presented with whatever documentation the lenders have supporting the higher figure? Is it also likely that the seller will just drop the price of the home the additional $9,750? We are very new to this and appreciate everyone taking the time to provide responses. [link] [comments]  | ||||||||||
| Posted: 17 Jun 2019 08:25 AM PDT Looking to get some opinions from any agents in here that are also investors, and if you think it was worth getting your license to assist in your investments, or if it wasn't really worth all the time and upkeep. I think the pros outweigh the cons, but I do not speak from personal experience [link] [comments]  | ||||||||||
| Rent and Security deposit after break up Posted: 17 Jun 2019 06:59 AM PDT I've had a couple living in the lower unit of my rental property since September 1st of last year. They qualified for the unit with his income alone and she was going to stay home with their new baby. He paid first months rent and security deposit in cash out of his wallet. He has also been the one writing rent checks out of his checking account (they don't have a joint account). I just found out yesterday that he moved out last week and wants to be off the lease. I told him that I would need her to sign a form to release him from the lease and that I would need to verify her employment and income before I'll allow it. Apparently things didn't end well because he doesn't think she'll sign the release and she also isn't working until they can find a full time babysitter for their kid. He has asked that I send the security deposit to his new address. I don't want to do this and open myself up to be sued by her for not splitting the security deposit. To make matters worse, I'm in the process of selling the place and have listed the house stating their lease doesn't end until August 31st. I need her cooperation with showings but I also don't want a tenant in there with no job and no security deposit on the line. Anyone experience something like this before that can offer some advice? [link] [comments]  | ||||||||||
| Looking to buy my first home soon, what do i need to do? Posted: 17 Jun 2019 06:50 PM PDT I've got a basic idea of where to start. Getting pre approved for a mortgage is my first step but I'm unsure how to find the right mortgage lender. What criteria should I be looking for? I know this sounds dumb but how do I pay the mortgage lender? I am currently not working with any realtor. Should I find a realtor as well? I feel like I have a "to do" list a million miles long and I'm not sure if its even accurate. Any help that can be offerred would be nice. Also open for any tips for first home buyers. [link] [comments]  | ||||||||||
| Can you sign-away the VA Escape Clause? Posted: 17 Jun 2019 03:02 PM PDT I think the VA Escape Clause is pretty explicit. Where it states "notwithstanding any other provisions of this contract", it seems to me that an addendum isn't going to supersede it. Nevertheless, the sellers asked us to sign an addendum that says we must bring cash to cover any difference between appraisal and sale price. I signed it, but I don't think the addendum holds any water. Am I wrong? [link] [comments]  | ||||||||||
| Posted: 17 Jun 2019 02:38 PM PDT This would be my first time selling a property, so I'm trying to figure out what I don't know. Mainly what fees, taxes, etc. I might not be aware of. What I'm ultimately trying to work out is: What would I walk away with, like actual dollars in my bank account, if I were to sell it at price x? Here is the facts I'm working with: We closed on a 3 unit property in Minnesota in 2017. We bought it for $325,000 We have $266,467 left on the mortgage We have put in significant effort and money to improving the units and overall property. Here are the taxes, fees I know of (although I don't know if I understand them correctly):
So assuming I have those right (which I probably don't).... Say for example, I were able to sell it at $400,000. Does this look right?
I'm fairly sure I have some of that wrong and that I'm missing part of the picture. Any help or insight would be hugely appreciated. [link] [comments]  | ||||||||||
| Appraisal came in 30k lower?? Please help Posted: 17 Jun 2019 06:13 PM PDT We are in the process of buying a home. FHA loan. Inspection went extremely well, tons of updates were done to the house. Newer roof, furnace, a/c, appliances, etc. We got home owners insurance today and the appraisal was also done. This was the very last step before closing. Wellllll.. the appraisal came back 30k less. The house was 170k with 5k in concessions. We are shocked and waiting to see a copy of the appraisal to see why it was so low. We do not have that much cash to cover the difference and I highly doubt the seller would drop the price such a significant amount. He has a back-up offer for a conventional loan that is 10k over ours. At this point, what happens? What are our options? And most importantly, is the seller able to back out? We could switch to a conventional loan which I heard is more lenient. This is crazy. TLDR; appraisal came back 30k lower than expected and need options of what to do. [link] [comments]  | ||||||||||
| Posted: 17 Jun 2019 04:31 PM PDT I don't really like my realtor because they don't seem to do anything for me. Paper work is always last minute that I have to sign electronically because it has to be signed that day. I had to meet the realtor at the homes he was showing. He doesn't do stairs so I have to go by myself to the upstairs and basement and try to remember all the questions I have when I get back to him. There are more things that irked me but I stuck it out with him when he finally showed me a house I like. I made the offer that was accepted and met the realtor at the house for the final walk through. The seller was there trying to keep me from going around the house by talking my ear off. The ring doorbell was removed that was bolted in the doorway. Other problems like a cracked window were found. The seller doesn't want to put back anything that they have uninstalled. I talked to the realtor and he said that I was right that the ring video doorbell should stay. He is going to talk to the other realtor that happens to work for the same reality company. What is the best thing I can do at this point? I don't like either realtor and I don't think they will find a solution that I like. I don't want to cancel the deal and lose money. I'm looking for a good idea that will solve this mess or what my best course of action should be. TL;DR Buying a house and the seller is removing things they shouldn't. I have no faith that either realtor will come up with an acceptable solution. I don't want to lose the money I have already used to buy the house. I'm hoping someone has a good idea to solve this mess. Help please! [link] [comments]  | ||||||||||
| Posted: 17 Jun 2019 03:43 PM PDT My neighbor owes me over $1000.00 and she just sold her house n her number has changed. Any suggestions? [link] [comments]  |
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