Trying to buy a house with Opendoor (final) Real Estate |
- Trying to buy a house with Opendoor (final)
- If I can afford to, is there any reason I shouldn’t buy a home?
- Update: followed the sub's advice and am so happy I did
- Realtor role in a custom build (MN)
- How to shop around for lenders?
- Sell or wait a year?
- Looking at purchasing major fixer upper in the Bay Area. County has deemed the home “uninhabitable” most likely because of unfinished/damaged portion of foundation. If we were to buy can we live here legally?
- What do you think we qualify for?
- Renting a Home in Las Vegas as an Exotic Dancer
- How do I find out more history about my house?
- How to start real estate business part time
- What are the drawbacks of REITs?
- Need Advice [Cold Feet]
- Out of State Father to son deed transfer
- Has anyone in here personally built an investment property (duplex, 3 flat, etc.) on vacant land? How did that go for you?
- Roof came up during inspection, seller now wants to raise the agreed upon sale price
- Renting out a room (insurance)
- What is a good lead generation software for a mortgage broker?
- Looking to get my real estate license. Can anyone recommend a good course?
- RHA in the south?
- How much should I get for a referral?
- What to expect from a rental house? Also how are property management companies?
- Should I buy house near a soon to be developed residential area?
- Clarification on "Recreational Land" in Washington state
| Trying to buy a house with Opendoor (final) Posted: 09 Jun 2019 06:24 PM PDT Part 1 is here: https://www.reddit.com/r/RealEstate/comments/blzh4y/trying_to_buy_a_house_with_opendoor_part_1/ Part 2 is here: https://www.reddit.com/r/RealEstate/comments/bvaqpe/trying_to_buy_a_house_with_opendoor_part_2/ We finally closed... A few things happened to get us to this point.. and I'm going to sound crazy here
In the end they came back to my realtor and offered a decent amount of seller paid closing costs around 7pm on 5/31 (second scheduled closing date). Around 10pm on 5/31, my lender came back and offered to waive the rate lock extension fee... Which we were not expecting. We ended up closing on 6/4 (third scheduled closing date) to give my lender enough time to send everything back to underwriting. The movers we selected cannot get us moved now until July 3rd... I'm trying to contact other companies but everyone is booked solid in my area. It's looks like we might try and move our own stuff and leave the heavy things for later. As far as the lying on the seller disclosure is concerned, I talked to my realtor and he will be dealing with the situation himself. I trust him to take care of it. Again looking back on the whole situation, I think we should have immediately hired an appliance repair technician AND brought in my inspector to check on the status of repairs after we found out they were incomplete the first time. I have no idea if that would have lit a fire under them or just caused further frustration on my part. TLDR: The whole process of closing with Opendoor from the buyers prospective from start to finish has been extremely frustrating, we finally got to closing, it took some threats of walking away from the deal to get them to finally come to the table with a decent offer. I'm so grateful that my job was so understanding and allowed me to take off random time here and there to deal with this bullshit. I don't foresee myself buying a house in the next 10 years but it certainly will never be from a wholesaler again. [link] [comments]  |
| If I can afford to, is there any reason I shouldn’t buy a home? Posted: 09 Jun 2019 04:31 PM PDT 27 years old and am fortunate enough to have about $100k saved. I recently moved to Tampa and currently renting an apartment. I can afford to put down 20 percent for a home and looking to potentially start investing in real estate and eventually rent out a home. If I can afford it, why shouldn't I do this? I looked at a home today and can expect to pay $1500 total for mortgage, insurance, etc. I'd plan on living there for a while while saving up to eventually buy something bigger then rent it out. I feel if I start now I can really make some money buying property. [link] [comments]  |
| Update: followed the sub's advice and am so happy I did Posted: 09 Jun 2019 05:58 AM PDT My post wasn't popular but I figured to update since I noticed there are not a lot of posts about being a first-time home-seller and I can't be the only one who is/was looking here for advice! Here is my previous post: https://www.reddit.com/r/RealEstate/comments/b9kiwo/first_time_selling_a_house_the_first_real_estate/. As everyone suggested, we interviewed several other realtors and realized that yeah, our gut feeling was right, that guy's listing price was too low! He was competent and fine, but compared to other realtors, seemed less interested in our house and in helping us. We ended up finding a realtor who we jived with personality-wise and who we thought had good experience. You guys were right about the other thing too- our house price estimate was definitely too high, but the realtor we ended up choosing was REALLY good at explaining how our houses compared with the others in the area, and the range of prices we could list and how that would affect how long it would take to sell. He gave us a very detailed list of things for us to consider getting repaired/fixed and how that would affect the final sale price and/or the general interest in the house. He actually lived pretty close to us and so he knew the area extremely well. We put our house on the market and got a strong offer within three days, which is CRAZY for where I live. It's now under contract and he's doing a really good job of negotiating the repairs from the house inspection. We ended up getting the house for $10k over asking price because we had so many showings so quickly. I'm floored, honestly. I know that some of that is likely luck (how often do you come across a motivated buyer who is willing to put in $10k over asking price to ensure they get the sale??) but the interest we drummed up was absolutely all due to our realtor. He took amazing pictures, hired an amazing stager, and did targeted Facebook advertising to get the word out about our house. So anyways, just wanted to say my experience for others who are home selling novices like me. It is SO worth it to find a good realtor and it absolutely, 1000% needs to be someone who you feel comfortable with, and someone who exudes integrity and professionalism. Thanks to those who talked me through it and helped me formulate a plan!!! And I hope this post is helpful to other young couples/families looking to sell! [link] [comments]  |
| Realtor role in a custom build (MN) Posted: 09 Jun 2019 08:14 PM PDT Location: MN Background: I've posted on here previously about Suburban neighborhood living and how it's not for me. I'm happy to say that we've made due and are now looking at options for our next home. We'd like to build a home on an acreage. We've met with many realtors and found a team we like (buying and selling agents). We have not signed any paperwork. How do we interact with the buying agent and our exploration of custom home builders? Does the buyers agent contact builders on our behalf or should we be doing that on our own? The buying half of the team has taken us to look at existing construction and we've mentioned talking to builders, but it seems like we should take the lead on that. I'll confirm with him, but this has me wondering what the typical role of a realtor is in a custom build situation. [link] [comments]  |
| How to shop around for lenders? Posted: 10 Jun 2019 04:15 AM PDT I inquired with a few and they all want to do hard credit pulls. Can't they mock up a situation based on assumptions given to them? [link] [comments]  |
| Posted: 10 Jun 2019 03:41 AM PDT Looking to sell since value has gone up $100k near Puget Sound WA state area. Needing to live somewhere a little more nicer with a 500 More sq/ft. I read a couple predictions being around 5-7% increase next year in home values for this area? Am I way off? I don't mind waiting another year but interest rates are really good right now, just interested to know some other perspective or insight on the subject. Thanks for your time. [link] [comments]  |
| Posted: 09 Jun 2019 03:24 PM PDT As the post says, the house is in major disrepair however with some work is livable. It would be a slow fix as you go kind of deal and am just curious can the county at any point force us not to live there. There are no red tags on the property as of now. [link] [comments]  |
| What do you think we qualify for? Posted: 09 Jun 2019 05:17 PM PDT We are going to a loan officer this week but I'm super curious. I currently make $68k/year and my husband makes $70k/year. We owe about 10k in debt to a credit card. We make $500 payments to pay it off faster. Our credit scores are in the high 700s to low 800s. We currently have 37,000k in savings. Anyone out there who can magically run these numbers to see what we qualify for? We are in California. [link] [comments]  |
| Renting a Home in Las Vegas as an Exotic Dancer Posted: 09 Jun 2019 11:46 PM PDT Throwaway account because of the specifics of the situation. Moving to Las Vegas, NV in Sept. and we are looking to rent a pet friendly home. My SO is an online exotic dancer and makes good money, operating as an independent contractor; she was doing this all of 2018 and paid taxes on her income. 2018 Combined Income: $70k Good rental history for over 3 years at current apartment; have rental reference letter. Good reference letters from local utility / local ISP. We both have excellent credi scores 750+ $6k/savings - $5k/checking average - some minor investment profiles Current monthly income over $5k/mo We have a large older German Shepherd and a Cat We're moving in part because I can just about double my salary in Las Vegas from where we currently live. I haven't been working the past 9 months because I received a small inheritance, had money saved and had family obligations that required I travel/take a leave of absence. I can show income for 2018 on my tax return around $30k, SO is showing $40k of taxable income. Either way she is earning substantially more money now compared with 2018 and I'll be able to make $50k/year once I get a job out there. My questions are; what are our odds of getting accepted to rent a home with her self employment and my not having a job until we arrive in Sept? Is our excellent credit scores/strong monthly bank statement more important to a landlord then the other factors listed? Does anybody have any insight on renting homes with a large breed dog in the Las Vegas area? Any input from landlords on how to approach this situation is so much appreciated :) [link] [comments]  |
| How do I find out more history about my house? Posted: 09 Jun 2019 05:31 PM PDT When we got out tax bill this year, it stated our house is part of a neighborhood that is across and down the road. We have been trying to find more history about our house but can't seem to. All of our documents say the house was built in 1951 but looking at aerial views, our house doesn't seem to appear until after 1954. When we look at the outline of the neighborhood we are associated with, it does not outline our house. Our town isn't exactly trendy and probably doesn't have a lot of well known history. There is one book at our library written about the town and only got me as far as the developer of our assumed neighborhood. Where can I find records that I can trust? Or is it possible our house was just built and along the way the real info wasn't kept track of? [link] [comments]  |
| How to start real estate business part time Posted: 09 Jun 2019 10:14 PM PDT Have a 8-5 job, but would love to utilize remaining time on building real estate career. As well as weekends Would appreciate resources or guidance Edit: have license, CA [link] [comments]  |
| What are the drawbacks of REITs? Posted: 09 Jun 2019 02:37 PM PDT Hello, I am learning about real estate investment and found the concept of REITs attractive. One point of confusion for me is that corporations have REITs to avoid double taxation but how does the Corp benefit if they're forced to pay out the gains? What is in it for them? Any clarification would be much appreciated:) [link] [comments]  |
| Posted: 09 Jun 2019 02:20 PM PDT I posted in r/realestateinvesting yesterday, but forgot to crosspost here. I've been searching for a SFH in Colorado Springs for about a month and I've come across one that I think will be a good investment. It's 10-15 min away from two major military bases and it's 15 min away from downtown Colorado Springs. I initially began searching for a SFH as an investment opportunity as Colorado Springs has been rated among the best places to live in the nation (and I do in fact love it here). I've been paying about $150 above my housing allowance ($1485 housing allowance, $1535 rent) for my apartment and my rent is about to go up by another $40 a month to 1575. I end up paying around $1615 when all is said and done at the end of the month, which is about 35% of my paycheck. The home I'm looking at is about $285K and I'd be putting down about 15K as a down payment (although no down payment is required with a VA loan). Some specs about the house:
My mortgage+property tax+ insurance would be around $1,300 a month I'm planning to rent out the lower level bedroom with private bath for somewhere between $600-$800 a month. I'm undecided about renting out any other rooms. I suppose I'm getting cold feet because it's a large investment and I'm largely pretty happy living in my 1BR apartment. I'm looking for some advice/weighing in from people more experienced in real estate investment on this subreddit in order to help me make my mind up about going forward with buying! I might be forced to move to a new duty station in two years through the Army, or I might be able to stay for 4 more years. I'm not sure if it is a good financial decision to invest in a SFH now or not. [link] [comments]  |
| Out of State Father to son deed transfer Posted: 09 Jun 2019 09:38 PM PDT My father is considering transferring his home to me while he is still living. He, along with the house, is in NY, and I live in California. I am his only child, and there are no other relatives, etc. that could claim this house. It will go to me regardless when he passes (whenever that is. . hopefully years away) We are both unsure whether this is thing right thing to do. To complicate things, my family and I are in the middle of shopping for a home here in Los Angeles. We are pre-approved, etc. Will something like this affect our credit-worthiness? Is this going to cause tax problems ? (He is going to continue to pay property tax in NY) Thanks for you expert and sage wisdom [link] [comments]  |
| Posted: 09 Jun 2019 05:00 AM PDT |
| Roof came up during inspection, seller now wants to raise the agreed upon sale price Posted: 09 Jun 2019 08:33 PM PDT So I agreed to buy a house at 435k. Home inspection came by stating that the roof is near the end of its life and needs evaluation by a roofer. I had an independent roofer inspect the roof and they agreed that the roof needs immediate repair, and gave an estimate of about 14k. We sent the information to the seller. They responded that they want to repair the roof with a style and contractor of their choosing, and that since the new roof will "add value", the price of the home will now be raised to 442,500. Their argument is that they inspected the roof in the spring that they were told the roof had about 5 years of life left. I don't know how to feel about this. I was under the impression that there would be a credit negotiation for the cost of repairs, but I never anticipated a repair issue actually increasing the sale price. Any thoughts on this would be appreciated. [link] [comments]  |
| Renting out a room (insurance) Posted: 09 Jun 2019 02:00 PM PDT I've searched google as well as this and other subreddits, but perhaps my wording isn't turning up the results I'm looking for. I just purchased my second home (renting out the first one) and it's in a higher cost-of-living area so the mortgage will be higher. My partner and I can comfortably afford it, but we've also got an upstairs area that we will likely not use often. If we rent this out to someone, what steps can we take to protect ourselves? I've seen landlord insurance, but does that only apply if you're not living in the property? Any input is appreciated. [link] [comments]  |
| What is a good lead generation software for a mortgage broker? Posted: 09 Jun 2019 07:53 PM PDT |
| Looking to get my real estate license. Can anyone recommend a good course? Posted: 09 Jun 2019 07:10 PM PDT I have virtually no practical knowledge of buying and selling real estate properties. But as a prospective homeowner and someone who is looking to eventually invest in real estate for profit, I would like to begin my education now and obtain a real estate license. New York requires a 75 hour mandatory course before you can take the exam. So I've been shopping around online and there seems to be a large variety of price points and offerings. Can anyone help me sort through the mess and tell me about your good/bad experiences with these services? [link] [comments]  |
| Posted: 09 Jun 2019 06:56 PM PDT |
| How much should I get for a referral? Posted: 09 Jun 2019 06:48 PM PDT How are referrals typically handled in the industry? I have two potential scenarios that I'm trying to figure out: Scenario A: I have a friend who is looking to sell his house. I refer him to my friend who is a great real estate agent. Should I expect anything from the real estate agent when the deal closes? Scenario B: Same as the one above. However, I am a licensed real estate agent from another region. [link] [comments]  |
| What to expect from a rental house? Also how are property management companies? Posted: 09 Jun 2019 06:22 PM PDT Hi, I'm thinking about renting out one of my homes. I'm 100% inexperienced. I've googled a lot about property management companies... However some of the articles seem biased one way or another. I'm looking for real user feedback.... I also have a couple of questions. First, will a property management company allow me to do most of the repairs on the home? I've always done all my repairs... Like always. Even HVAC / Plumbing / Electrical. Second, how picky are they with tenants? I REALLY don't want anybody tearing up my property... I don't mean a bit of smudges here and there. I mean like the dog doo, oil all over the carpets and putting cigarette ashes on the floor? I understand some companies do background checks, credit checks etc. Do they ACTUALLY CALL former landlords? The reason and this may sound sissy that I need a property management company is I simply don't have the heart to evict somebody if that came to pass. I'm a sucker for excuses and would fold. Just the way I am. So what are some experiences? Pros / Cons? Is the typical 10% rate negotiable if I just need them to take calls for repairs and I do 90% of all repairs? (IN other words they know who to call). Also they need to find the tenants, collect rent, and evict if needed. THANKS! [link] [comments]  |
| Should I buy house near a soon to be developed residential area? Posted: 09 Jun 2019 06:13 PM PDT I am considering buying a house that has a 100+ acre agricultural field for sale just beyond the backyard. This field is also currently for sale (actually pending) and being advertised as a site for potential residential development. What are the pros/cons of this development, as well as a general timeline? Overall, would it be advisable to purchase said home? [link] [comments]  |
| Clarification on "Recreational Land" in Washington state Posted: 09 Jun 2019 02:02 PM PDT Hi RealEstators, I have a question about "recreational land" in Washington state, and the Google is surprisingly sparse on clear answers. I get a lot of "well, it depends - on the code enforcement officer, county, city, etc" on forums, and am looking to get some clarity. The long and short of it is my wife and I are looking to purchase some "get away" property and build a house on it. Nothing fancy, nothing commercial or exotic. A lot of very attractive lots within our price range are listed as "recreational land," which I imagine is suited for general recreation. However, I can't seem to find if there are any special restrictions to what we want to do in the state of Washington. If you're in a position to shed any light on this, would you be able to clarify if, on recreational land, can I: 1). Build a permanent residential structure. 2). Install a septic system. 3). Build additional outbuildings (sheds, shops, barns). Any resources you can provide me to help would be greatly appreciated. Thank you! -CM [link] [comments]  |
| You are subscribed to email updates from HomeOwners & Investors. To stop receiving these emails, you may unsubscribe now. | Email delivery powered by Google |
| Google, 1600 Amphitheatre Parkway, Mountain View, CA 94043, United States | |
No comments:
Post a Comment