Update to telling the seller to shove it for an extended closing: Real Estate |
- Update to telling the seller to shove it for an extended closing:
- What % of deals have you seen fall through at end of due diligence?
- Does a bedroom need a door
- Tenant shoves bunkbeds in 3 bed rooms and rents it out without my permission behind my back, recourse?
- Looking to buy Home. Should I use realtor or try to purchase on my own?
- Buyer offered conventional loan with no repairs on 5/25. As of today we discovered they are getting FHA and asking for repairs.
- Advice for a first time buyer
- I broke the lease - but instead of renting, landlord is renovating unit (NC)
- Advice on how to handle a state move with selling one house to buy another
- Why is the most recent year's property tax so outrageously high on Zillow sometimes?
- How to approach a seller to ask about renting
- Is house with a pool a good idea?
- After firing my listing agent, they want to charge me a fee that was not described in the Exclusive Right to Sell
- Real Estate first timer, looking for advice!
- Leaseback Vacation Property Search?
- How common is it for a seller to say no to fixing any requests after inspection?
- Potential renter is okay with a malfunction dishwasher
- Convert only bathtub to a shower?
- A city with low cost of home ownership and walkability for a single person
- Insurance on older homes?
- Possible investment opportunity at 25 years old. Should I take the chance?
- To rent or not to rent? (Second bedroom in my home)
- Should I re-list my house?
- Underwriter wants 'terms of withdrawal' from my Roth IRA account. WTF?
- Flat fee real estate commissions
| Update to telling the seller to shove it for an extended closing: Posted: 05 Jun 2019 11:20 PM PDT I asked about this about a week ago: see this post While I got a lot of solid advice, there isn't too much to update on. We stood our ground and seller agreed to the original closing date. Fingers crossed it'll still happen next week. Thank you guys for the advice! [link] [comments]  |
| What % of deals have you seen fall through at end of due diligence? Posted: 05 Jun 2019 04:03 PM PDT ...and why? Outrageous buyer requests? Seller not willing to budge? Crazy discovered issues at inspection? What creative ways have you seen buyers and sellers make what looked like a train wreck situation successful? [link] [comments]  |
| Posted: 05 Jun 2019 05:56 PM PDT As the title implies, we have a bedroom without a door. Our real estate agent asked us to replace the door before listing. (This seems reasonable to me.). My hubby thinks spending around $300 for a new door is not worth it and wants us to sell our house sans bedroom door. Will this affect the official number of bedrooms? That is, can we still count this as a bedroom if it has no doors? Background: We are selling our 3bdrm house. The bedroom in question has a larger than normal opening; when we purchased the home, there were double doors. I wanted to store them in the garage (just in case) and my husband didn't want to. So he sawed them up and slowly threw them away with our usual weekly garbage pick up. (Edit: we are in California if that matters.) [link] [comments]  |
| Posted: 05 Jun 2019 11:08 PM PDT I never verbally or on lease mention that he could not do that, but for him to shove bunkbeds in all 3 rooms of this apartment and have 15 plus people live there seems like a big hazard. How would I handle this if he has no lease with me at the moment? Potential difficult eviction for sure...thoughts? [link] [comments]  |
| Looking to buy Home. Should I use realtor or try to purchase on my own? Posted: 06 Jun 2019 03:38 AM PDT I have my money saved, I got a pre-approval letter for 400k from my bank, and I am looking to buy a home. Should I use a larger Realty company or a smaller one? Is there any advantage to trying to purchase on my own without a realtor? What questions should I ask a realtor before I commit to them? So many seemingly difficult choices that I need to make and I am not sure where to start. [link] [comments]  |
| Posted: 05 Jun 2019 07:34 PM PDT Buyers asking for some repairs but 11 days after accepting an offer (and rejecting another) we discover their conventional loan has been altered to FHA. How does that work with no repair? If we get a laundry list of request, what recourse do we have? Thanks [link] [comments]  |
| Posted: 05 Jun 2019 08:21 PM PDT I'm looking to buy a home with my parents and my aunt. We were originally planning on buying a home that was a single family home for my parents and I + a small studio/ one bedroom on the property for my aunt. However trying to find a home ready made like this has proven semi-difficult, within our price range and in the neighborhood(s) we want. I was thinking that we could buy a single property home and then add on the studio/one bedroom after purchasing the home. However I'm pretty sure the loan we've taking out to buy the house will not cover the construction of this add on. I was thinking that we could purchase house and then take out another loan on the house and use that money to build the add on, I think overall it would be cheaper than any of the already finished properties we've seen. Would that work ? also sorry for my general real estate illiteracy [link] [comments]  |
| I broke the lease - but instead of renting, landlord is renovating unit (NC) Posted: 05 Jun 2019 06:41 AM PDT I broke the lease 3 months before the end of the lease (first week of May) I have received an email from the landlord in mid May, telling me the unit has no serious damage and that an applicant is interested in the unit. However, two weeks later, the apartment place wants a check for the current month. I called the place and apparently they have no unit available for rent (?!). They are renovating some units, however, which will be ready in Mid-July. My understanding is that either 1) The landlord is lying and the apartment has already been rent 2) The landlord has no plan to rent the apartment and is instead renovating it. My understanding is that 1) is illegal, and thus unlikely. However, do I have any recourse in case of renovations? Is it legal for the landlord to renovate the apartment while taking money for rent at the same time? I live in North Carolina, which says the landlord must make "reasonable efforts" to rerent. [link] [comments]  |
| Advice on how to handle a state move with selling one house to buy another Posted: 05 Jun 2019 08:12 PM PDT Like the title says, we will be moving states this next school year. This is the first time we will be selling a home and hopefully purchasing another (in a different state). I've gotten advice from both a buyer and seller agent but I was hoping to gain some more insight on the best way to go about this process. Hopefully hear some success stories! Here is what I'm thinking so far: put our house on the market in spring to be sold by summer. That would give us the summer to find a new house before school started. I like the break because I get anxiety thinking of doing both transactions at the same time & we need the equity from our old house to purchase our new house & I guess I'd feel more confident in making an offer if I had that money in the clear already. I don't know. In a perfect world we'd rent in the new state for awhile to get a feel for the area, but with 3 kids in school, we don't want to go that route because they'd have to change schools mid year most likely. Instead we're relying on friends and a couple scouting trips to find an area. Thank you in advance! [link] [comments]  |
| Why is the most recent year's property tax so outrageously high on Zillow sometimes? Posted: 05 Jun 2019 08:09 PM PDT |
| How to approach a seller to ask about renting Posted: 05 Jun 2019 11:34 AM PDT I really know nothing, and am asking for advice and education. Please be kind. There is a home near us that has been on the market for the better part of 5 months (that's about 7 times longer than the current average for our area.) The house is currently sporting a sign from a realtor. Is it feasible to ask the owners if they would consider renting out the house if it doesn't sell within a time frame they and their realtor have their contract for? (Is that even how a contract with a realtor might work?) [link] [comments]  |
| Is house with a pool a good idea? Posted: 05 Jun 2019 10:53 AM PDT I know house styles are very subjective, we recently started looking for a house and found a great cul-de-sac house with a pool within our budget. Pool was not really a requirement for us but with a backyard with pool and a gazebo, the house really hit all the right marks. While my better half is all in to proceed with the offer, I am a bit skeptical, worried about high maintenance and any ofher issues with the pool. Any of you folks who have lived in a house with a pool care to share insights, cost of maintenance, impact to resale and does the euphoria last? Was it worth it for you? Edit - Thank you for all the great comments, learned so much about pools(and upvoted every comment :)), never really thought about liability, my biggest concern was maintenance. Edit2 - We live in California bay area so if we do go with the pool then we will be using it for most part of the year. [link] [comments]  |
| Posted: 05 Jun 2019 09:21 AM PDT After dealing with incompetence, I informed my listing agent that we are going to pursue using a different agent who was more experienced. I asked them to remove the listing, provide us with a list of any protected buyers, and grant us an unconditional release from our exclusive agreement. In return, I was sent a Cancellation Agreement to sign off. This agreement document reads: "SELLER acknowledges BROKER earned compensation in the amount of $XXX (ZERO if left blank) for expenses and activities during the term of the listing contract, and agrees to pay such amount in the form of certified funds upon signing this form." The Exclusive Right to Sell agreement we signed at the beginning of the listing makes no mention of any compensation owed to the agent or broker unless the house was sold. I asked the agent why they should be compensated, and they responded "I don't know why the contract (exclusive right to sell) is worded the way that it is, but it is my understanding if you want out of the contract you have to pay the $XXX." This seems incredibly flimsy. Shouldn't that be spelled out in the terms of the Right to Sell? They make it sounds like this charge is a flat fee for cancelling a contract with them, yet it was never mentioned until I wanted to cancel. The 'ZERO if left blank' on the cancellation agreement is a dead giveaway that obviously there can be a cancellation without any compensation. Should I ask them (tell them) to remove the compensation before I will sign? EDIT: I didn't fire the agent because we didn't get offers, or their inability to sell the house quickly. It was due to extraneous events and circumstances that should never occur in the business. I'm simply asking if I'm obligated to pay something that I never agreed to pay. Please save your assessment of me as a client, you don't know the full story and it's not even relevant to the question. I guess that's my mistake for providing unnecessary details in the OP. [link] [comments]  |
| Real Estate first timer, looking for advice! Posted: 05 Jun 2019 02:48 PM PDT The guy I know is selling his cabin in New York that he rents out as an airBNB. He has asked me to make an offer on it but am unsure what amount it makes. The airBNB pulls in $255-$295 per night and has a booking rate of 80%. I want to make an offer but since this is my first time I'm not really sure what to go in as a starting offer. Any help would be appreciated! [link] [comments]  |
| Leaseback Vacation Property Search? Posted: 05 Jun 2019 05:32 PM PDT Hi everyone, I'm a beginner and slowly learning so bear with me if you can. I'm interested in purchasing a vacation property that would have something similar to a Leaseback (at least, something similar to my understanding of a leaseback). For example: My family friends purchased a condo in Alabama for $200,000. They then established an agreement with the agency they bought it from that they would do a leaseback (at least, it's what I am assuming is called a leaseback) and rent the condo for 10 months out of the year, pay them x amount during those months, keep it up to date with furnishing & repairs, and then they can use it for the remaining two months. Am I correct in my understanding of a leaseback? If so, is there a handy website to find a property with this sort of agreement or is it so uncommon and varies agency to agency? [link] [comments]  |
| How common is it for a seller to say no to fixing any requests after inspection? Posted: 05 Jun 2019 11:27 PM PDT I just sold my house and when the buyers asked me to fix a few things I was on board. I wanted them to buy and I figured anyone who came along would ask for a few things. I met them half way on a big ticket item (my cost was $3k) and I did all of the small things they asked for. Fast forward... I put an offer on a place and after inspection I find out it needs a new sewer line. The estimate is $8k. The seller flat out told me no. Seller says they used drain-o and got regular roto-rooting and the pipes are fine. How common is it for a seller to flat out say no?? It also needs a few other costly repairs; aluminum electricity, radon mitigation, and something about covering dirt in the crawl space. Why is she not meeting me half way? Is this common? [link] [comments]  |
| Potential renter is okay with a malfunction dishwasher Posted: 05 Jun 2019 11:08 PM PDT Hi. I am currently renting out my condominium. I also am brand new at being landlord. The dishwasher is broken and the potential renter is aware of it. She said it doesn't have to be replaced since she washes the dishes by hands. My question is, should I leave the dishwasher the way it is? Can she withhold rents, once moved in, claiming that the appliance is broken? Can I ask her to sign some sort of documents stating that she was okay with the malfunction dishwasher? [link] [comments]  |
| Convert only bathtub to a shower? Posted: 05 Jun 2019 04:19 PM PDT I just bought a townhome that is 1 bedroom 1 bath. For me the place is a perfect size but the bathroom has a smallish bathtub. I'm a big person so I hate bathtubs with a white hot passion since they are useless to me. I was thinking about pulling it out and making a 5x5 foot walk in shower instead of the walkway in front of the stupid 80s bathtub - and the stupid 80s bathtub. The only problem is that I am worried if I do this it will kill any marketability the place has. Thoughts? Do I have to keep the bathtub just so the place is saleable when it comes time to move? [link] [comments]  |
| A city with low cost of home ownership and walkability for a single person Posted: 05 Jun 2019 10:09 PM PDT I'm looking for a small condo or home with a low cost of ownership and hopefully a down payment assistance program where one can do most things by walking or transit still. Think second - tier, under the radar cities anywhere in the US. Any ideas ? [link] [comments]  |
| Posted: 05 Jun 2019 09:47 PM PDT I'm looking at a property that was built in 1925, I'd be paying cash for the property and doing my own inspection. How tough is it to insure a property like this? I'm asking because when I bought my last property (block home built in 1950) state farm gave me a hard time and I ended up having to use a different insurance company altogether. Not sure if it matters but I'm in Florida, any advice would be great hope to inspect the property Friday. [link] [comments]  |
| Possible investment opportunity at 25 years old. Should I take the chance? Posted: 05 Jun 2019 06:01 PM PDT I need help deciding if it's worth it or too risky to buy a rental property. A little background: 25 years old 30k in student loans 40k mortgage loan left on 80k property currently living in I have a job making 80k/year and will be at 90k in 2 years time I'm prequalified for a 200k loan to buy a duplex that would generate roughly 1.2 a month in income. Both units are already being rented. The asking price is 145k. The property needs slight updates but is in a high demand area. I could do the repairs myself. My question is, is this a good investment opportunity for me at my point in life? [link] [comments]  |
| To rent or not to rent? (Second bedroom in my home) Posted: 05 Jun 2019 03:38 PM PDT I have a spare bedroom in my home that I'm debating on what to do with. It's very small - only about 9x9. It does come with a full closet and lots of natural light. There's only one bathroom in the home, so its shared with the master bedroom. I don't really have any need for an office or hobby room or whatnot. Is it practical to try to rent it out? Housing is pretty expensive in my area, and the average room for rent in my county runs from $800-1500 a month, depending on size of the room and lease stipulations. I have a two car attached garage, so it would include parking/storage space. The location is fairly ideal, off a private driveway and close to many amenities. Is it worth attempting to rent such a small room or would that size be considered relatively unlivable? [link] [comments]  |
| Posted: 05 Jun 2019 09:22 PM PDT I listed my house on 5/17, had multiple offers in on the following days, went with a buyer who was using a traditional mortgage. We agreed to $6k sellers help, they offered $3k over asking price. Fast forward to now, they still haven't signed the agreement post inspection. I gave another $500 for a radon system (5 Pico units in my unfinished basement) and another $250 for a wee roof repair. The buyer now wants me to pay a plumber to come and locate my sump pump drain/have it serviced. I informed them that the basement stays dry and I had to send them a video of me running 30 gallons of water out of the pump and it not back draining through the hose or wall (wtf?). Should I entertain this bullshit/nonsense, I told my realtor I want to re list and she really insists that we don't but the sellers are being total assholes about everything. They want to close on 6/21 but that even seems to soon, as they keep dragging their feet... Is it wrong of me to request that date be pushed back a week to give me more time to pack up? Is it normal for house buyers to be so needy? [link] [comments]  |
| Underwriter wants 'terms of withdrawal' from my Roth IRA account. WTF? Posted: 05 Jun 2019 05:32 PM PDT So is he just retarded? I don't know what to send him, the bank doesn't know what to send him. I sent the IRS 590b on IRA distributions, my tax forms with previous contributions... Any ideas on what he wants? [link] [comments]  |
| Flat fee real estate commissions Posted: 05 Jun 2019 11:22 AM PDT I am getting to get back into real estate after working for a real estate tech company for the last 7 yrs. I do not agree fully with the % based system and would rather see a flat fee model based on pricing tiers. I have advertised this but I am getting no traction it seems like everyone is okay with the % model. On selling side , on the average home price in my area the seller would save roughly 7k or higher, the buyers would receive a cash rebate of 7k or higher. In addition we pay for the attorneys fees to handle the transaction. But when discussing this - they think paying more equals better. Why would anyone think this? [link] [comments]  |
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