[WA] Unit I was just sold has secret corridor that houses all give hot water heaters in my condo building Real Estate |
- [WA] Unit I was just sold has secret corridor that houses all give hot water heaters in my condo building
- New Property manager told us we were $6000 behind on rent, we paid in a panic, now we find out they misread the lease. They won’t return the money.
- Buying a house. Have cash and need to figure the best way to properly use it.
- Contingency for permits?
- Seller Taking Long to Write Out Contract, Why?
- Where to begin? What to expect? (IN, USA)
- Homes not being sold buy owners
- I don’t trust my agent/real estate etiquette
- From Two Agents to Dual Agent - After contract signing
- Do I have any negotiating power with my lender with a fast close?
- Appraisal came in considerably low — what to do next?
- Automated customer acquisition tool for Commercial Real Estate
- Mortgage sold, new company added PMI.. is that even legal?
- Upgrades while building new construction
- I want to back out of a land contract as the seller in Florida
- Purchasing a home in a area with no comps
- How to do a CA to TX referral?
- buying with tenants still there
- Closing Document Questions
- Increase home owner's insurance amount to bid offer + repair costs between contract and closing (VA)?
- Down payment?
- What's the trendy new paint color?
- Owners - what do you wish you had compromised on?
- Looking at a struck off property that is too small to build on but according to the plat maps a residential home encroaches on part of the struck off property. What option would I have against the current owner of the encroaching building if I bought the property?
- Newly Licensed Real Estate Agent SOS
| Posted: 11 Jun 2019 08:55 PM PDT I'm a first-time home buyer and have run into a lot of frustrations after closing on my condo in Seattle at the end of May. I had posted about the parking situation previously and was met with some vitriol and eye-rolling that I wasn't sharp enough to catch these things myself, but I'm 31 and doing everything for the first time completely alone, and I trusted my realtor. It's all been a lot for me. The first issue that arose was that despite the listing being advertised as the unit including a "parking garage + storage," there are only four total parking spots for a building comprised of five units, plus one storage shed. Two cars fit inside an actual garage, two spots are uncovered, and the final spot, which apparently used to resemble a small carport with two lockers inside it, had doors added to it just before I bought my unit. When I first visited with my realtor, I was told the shed belonged to my unit, which implied that one of the parking spaces was mine since the listing said "parking + storage." Fast forward to closer to closing, and it comes to light that my shed is my "parking garage." My realtor was flustered at this but assured me that since apparently everyone else got a parking space, I got my own secure shed, and that was the trade off. Fast forward to the day of closing when my realtor is giving me the keys, and we go inside the shed where (for the first time) we are learning about the two lockers inside. We became frustrated that the keys we had wouldn't open one of the lockers. Fast forward a few days later when I meet my next door neighbor, who informs me that one of the lockers inside the shed belongs to her. So now it turns out my private shed/parking garage/whatever is actually shared. This seems especially unfair considering every other unit in the building has their own personal parking space, while I have a shed, and one unit now has both a parking spot and also space in my shed. My realtor was pretty embarrassed and tried contacting the HOA head on my behalf, asking if the doors to the shed could be taken down so I could use the space as a carport (if my car will even fit), but the HOA balked at that because apparently they literally just paid to have the doors installed to make the lockers inside more secure. So I can't take the doors down because 1) it affects the appearance of the building, 2) it affects the safety of another unit's belongings. I've taken to just parking on the street, which is highly irritating but not impossible. What adds to that frustration is the fact that one of the owners here saw the listing for this unit and even went out of her way to contact the realtor who represented the seller to say that it was misleading, that the unit did not come with a parking garage. Obviously the listing was never updated to indicate that it didn't come with both "parking garage + storage." I thought I had gotten over the situation and decided to make the best of things until another huge surprise popped up today. My upstairs neighbor came to my unit, which apparently has a secret closet behind a bookshelf that houses all five hot water heaters to the building. At no point in time was this ever mentioned by my realtor, who I'm still waiting to hear back from but am 100% certain he wasn't aware of it. Obviously I'm sure this is somewhere mentioned in the mountain of paperwork I have and am about to start sorting through, but it's honestly been a huge surprise. Everything has felt so misleading. Of course this has been a huge learning experience for me, and I was really naive about a lot of things; I implicitly trusted that my realtor knew everything about the unit. And of course moving forward in the future I know things to be more vigilant about and the questions to ask. But this is the situation I've found myself in, and I'm just venting and also I guess looking for a bit of help if there's anything to be done. I just closed on May 31st, am moved in, and I accept my situation for what it is. It just sucks. [link] [comments]  |
| Posted: 11 Jun 2019 04:21 AM PDT Our family rents a shop in NJ. The new property management company called us and said our lease stated we had to pay an extra 3 percent every year after a certain point. It had been many years and as the new managers they were reviewing the lease and found we owed $6000 in back rent. If we didn't pay immediately they were going to kick us out as our lease was actually up at the end of the month. We paid in a panic, then actually re read the lease. They were wrong and we didn't owe $6000. Now they are saying they're terminating our lease anyway and keeping the $6000. Who do we even report this to? Or do we just have to go to court? [link] [comments]  |
| Buying a house. Have cash and need to figure the best way to properly use it. Posted: 12 Jun 2019 04:08 AM PDT I am in the process of looking for a home (180-200K) and am getting closer to pulling the trigger. I have about 20 thousand in the bank. I have also been saving cash for some time and want to figure the best way to go about using it towards the down payment. My lender has told me I can't just deposit it into my account, which is understandable. I'm thinking of giving to it a couple family members and having them write me a check for a "gift" towards the house. But my lender also said their bank statements would be requested as well when the time comes. So my question is - would they just have to loan me the money first? So that the statements don't show my money coming in previously? And then deposit my money back when the process is over with? And also - they would probably be transferring money from their savings to their checking accounts in order to write me a check. Would this transfer cause any issues when they see the statements? Any info at all on this would be super appreciated. Feel free to go into as much detail as possible. Thanks. [link] [comments]  |
| Posted: 11 Jun 2019 07:18 PM PDT We are looking at a house that has a lot of after-market work: a shed, a new room addition, new walls, cabling for TV/Internet, blah blah blah. I'm a little nervous that some of this construction was done off the record and is not up to code. Could we put a contingency in our offer that there are permits for all construction? I feel like the cost of getting their work inspected and fixed (if necessary) should be reducible from the asking price. This is especially important for the 4th bedroom they advertised. It looks like someone just put walls up around the back patio. Obviously, we'll talk to our agent about this. I'd like the opinion of a disinterested third-party as well, like reddit. [link] [comments]  |
| Seller Taking Long to Write Out Contract, Why? Posted: 11 Jun 2019 08:40 PM PDT Seller showed me building, I gave offer, he countered, I countered, he accepted. I went through inspections and a few items needed to be fixed, I insisted to get a credit back instead of having him fix himself. He hummed and ha'ed but eventually we agreed to a number credited back to me. He said he would get his lawyer to write out contract since about 5 days ago, my lawyer reached out to his lawyer and his lawyer mentioned that the seller has never even reached out to him. I have already reached out to ask twice regarding why his lawyer has not written out contract yet, and he keeps saying "soon." This is a little strange and is starting to feel fishy, do you think he may be using my offer which was verbally accepted by him to use as leverage for other offers? My offer is a strong one as he knows I have the funds for sure as I have shown proof, any suggestions as to what is potentially going on? [link] [comments]  |
| Where to begin? What to expect? (IN, USA) Posted: 12 Jun 2019 12:02 AM PDT My bf and I rent a home that his parent own, they live in another house that they're still paying off, and we are in talks of buying the one we live in but we aren't sure where to start. The house has been in his family since his grandfather and grandmother got married and all parties want to keep it that way. His parents are all for us buying it at a significantly reduced price. They're planning on using the money from us buying our house to pay off their own mortgage. The house is definitely a fixer upper and we were hoping to get an extra amount on the mortgage for home improvements but not sure if that's a possibility. My question(s) is(are); where do we start and where do we go from there? Without getting half a dozen people, brokers, lawyers or otherwise involved, paying out the behind on fees, what is the most hassle free, straight forward way to get the money we need and the extra we want for improvements? And as I would be the one to primarily be named in the loan/mortgage because I have 'fair' credit which is the better of us two would my bf's name still be on the mortgage and title/deed when all is said and done? Sorry for all the questions, we are very new to this and have done research but still very confused as we're trying to further our lives together, I felt it would help to reach out to a community before talking to local professionals in fear of getting duped or taken advantage of. Thank you. [link] [comments]  |
| Homes not being sold buy owners Posted: 11 Jun 2019 11:06 PM PDT Is it a good idea to purchase a home in an area where no home has been sold for over 10 years. Basically no homes have been sold in a 2-3 mile radius. [link] [comments]  |
| I don’t trust my agent/real estate etiquette Posted: 11 Jun 2019 10:31 PM PDT I'm a first-time homebuyer looking for a condo with my s/o. I was really fixated on buying in a specific area, close to downtown and up-and-coming. One of the developments in particular has been on my radar. The amenities sell themselves (spa, sauna, steam room, indoor pool, 3 gyms etc.). A couple of months back, I noticed something in the building that I liked so I booked a visit immediately. Unfortunately, the view was a little off as it was overlooking the shorter part of the building and all the satellites. I liked the agent and since she was familiar with the area and building I asked her to send me listings that fit my criteria. Fast forward to now, another unit came up that was definitely overpriced (360k, 2nd floor, 1 bedroom)... but I asked her to go see it. I liked it but it had a lot against it (floors needed to be redone, on the smaller side and in a corner where the building doesn't get any sun). I told my agent this but she assured me that the unit gets sun and this would be the best investment (I went back to see it during the day and it was the only unit with the lights on inside). I told her I'm trying to make the right decision and again she mentioned this being the perfect unit. I waited to get a quote for the floors but started looking elsewhere in the meantime. I sent 2 listings (brand new) to my agent and she replied that there had already been offers. Then without me mentioning anything- she repeats "the other condo is good for you"... at this point it's getting a little sketchy... then she tells me the sellers agent wants to know if I'm still interested. I feel a little coerced into liking this unit and I'm not really feeling like she's on my side. Am I crazy? Do I trust her? If I start looking on my own is that in bad taste? Looking for some advice as I'm definitely not well versed in real estate etiquette. Side note: we were going to offer around 330k but the floors would cost another 10k.... so yeah. Thanks for reading! [link] [comments]  |
| From Two Agents to Dual Agent - After contract signing Posted: 11 Jun 2019 06:41 PM PDT Like the flair says, I'm buying a home. When I signed the contract there were two agents involved: buyer's agent and seller's agent each from different agencies. Yesterday my agent called and said she had some more paperwork for me to sign for her agency. She sent it over today. When I reviewed - but did not sign - said paperwork this evening I found a Dual Agent Addendum to the Agreement of Sale tucked in the packet. If I'm reading this right, the seller's Agent is out and my agent now represents us both. This makes me profoundly uncomfortable especially since my agent kept going on and on about how good of a deal I was getting and how she had outsmarted the seller's Agent. Am I wrong to be paranoid here? [link] [comments]  |
| Do I have any negotiating power with my lender with a fast close? Posted: 11 Jun 2019 04:27 PM PDT (x-post r/mortgages) In short:
On one hand, I'm happy to pay a bit more for Lender A since their ability to underwrite me ahead of time and promise a quick close helped my offer. On the other hand, I'm still trying not to get screwed when their fees so far appear much higher than others. Do I have any negotiating power here? Am I at the mercy of whatever fees Lender A wants to charge? [link] [comments]  |
| Appraisal came in considerably low — what to do next? Posted: 11 Jun 2019 09:48 PM PDT Hello again fabulous people, We are moving to a small vacation beach town where inventory is suuuper low. The town itself had about 300 residents — however, homes sell crazy fast due to the fact that, again, inventory is low AND it is a hot market as a place to buy vacation homes and vacation rental investment properties. So we made an offer for 261,000 with an addendum to add another 1/8th acre for 20,000, making our total offer 281k. Our Agent's CMA put the house at 263 (before the extra lot) so we were feeling good overall. The appraisal came back devastating. $234k. However, the appraiser never took the extra lot into consideration (land there is also pretty pricy), said improvements hadn't been done to the home (siding and roof have been done within last 15 years), and IMO didn't use comparable homes. In this tiny vacation area proximity is essential — a mile north and prices plummet considerably. A mile south are $400,000 studios to $2,000,000 4 bedroom homes. This appraiser is based 2.5 hours away from the property, and the address on his appraiser license is from another state entirely. I don't think he is aware of the nuance and conditions of this particular market at all. What would our best option be at this point? Also, can anybody help explain the adjustments on comps a little better for me? Thanks! [link] [comments]  |
| Automated customer acquisition tool for Commercial Real Estate Posted: 11 Jun 2019 09:23 PM PDT Other than Digsy, Tenant Base, where customer leads are generated, are there other methods that you use through linkedin, fb, etc. in order to acquire customers for commercial real estate? [link] [comments]  |
| Mortgage sold, new company added PMI.. is that even legal? Posted: 11 Jun 2019 06:06 AM PDT The market value of the home is 179k... the originating loan was for 100k many years back. I inherited this house 2 years ago. The current mortgage that was recently sold 3 months ago is ~45k. This is obviously well below the 78% threshold for PMI insurance. Is it even legal for this new mortgage company that bought the loan to add this? The mortgage is listed as "The Estate of...", therefore I'm currently jumping through hoops to get my name into this new loan to remove it. It's been about 2 months into this process now. My monthly mortgage jumped +$179/mo since this new company took over. Very frustrating at how slow this process is moving. [link] [comments]  |
| Upgrades while building new construction Posted: 11 Jun 2019 02:40 PM PDT We are buying new construction but we don't want the builders upgrades because of a) lack of choice and b) we don't want the cost being folded into the mortgage. It seems silly that the builders will put in something (like a brand new sink) only for us to go ahead and rip it out right away and put in something new. Is there a better way of doing that? Do people make side deals with the actual construction companies? [link] [comments]  |
| I want to back out of a land contract as the seller in Florida Posted: 11 Jun 2019 04:49 PM PDT I want to back out. He's an investor trying to flip the property. If I back out, can he sue for damages? What are my options? No money has changed hands. He wants to assign the contract to someone else but our contract doesn't say he can. If he won't agree to back out can I force him to buy it and not assign it to someone else? The contract: https://imgur.com/a/A0yfFt9 [link] [comments]  |
| Purchasing a home in a area with no comps Posted: 11 Jun 2019 08:14 PM PDT Hi everyone, my wife and I found a home that's listed for $699k. We offered them $707k because they had a second offer at $705k they counter offers us $720k, we want to go back and offer $715k to seal the deal, we just love the house! So the area, 5-6 blocks all around has not had a home sold for over 8 years. Typical prices are $550/$600k but 2bed 1 bath 1000 Sqft. The house we're buying is 4 bed 3 bath with a pool 1700sqft. How will appraisal find comps to appraise our house that we want to buy? [link] [comments]  |
| How to do a CA to TX referral? Posted: 11 Jun 2019 08:10 PM PDT Hi all, I'm a (brand new) licensed agent in CA and I need to do a referral for TX. Is there a specific form that I should use? Is it the CAR referral fee form? The TX agent has already agreed to 25% I just need to do the paperwork now. Thanks in advance folks. [link] [comments]  |
| buying with tenants still there Posted: 11 Jun 2019 07:54 PM PDT want to know in NJ whats the rules on applying for a mortgage if u intend to let the current tenants stay their lease that ends in NOV so 4 months from closing date of august. lender said he would get back to me but that whats he remembers its 3 months to live there or else u need to apply for investor financing. anyone know anything about it ? thanks [link] [comments]  |
| Posted: 11 Jun 2019 07:36 PM PDT Hello, We're preparing to close tomorrow on selling our home, and just received the closing documents to sign from the title company. I have some questions about a few lines on the document. https://i.imgur.com/g91sTfW.png The buyers agreed to: $272,000 sale price Pay all closing costs Pay title fees I'm mostly interested in the following line items, and whether we should be paying them as the seller, given the agreement reached with the buyers (and already signed for in pervious documents): Title Search Fee $250 Closing fee $475 Commission-Transaction Fee $149 I don't see how any of this should be billed to us based off the agreement made with the buyers. Any other fees that stick out, feel free to let me know if they shouldn't apply as well. Are these normal given the conditions? Any advice would be greatly appreciated! [link] [comments]  |
| Posted: 11 Jun 2019 07:35 PM PDT We just accepted an offer above asking on our home. Buyer is motivated and wants to close fast which is fine by us. My question is: does it make sense to increase my home owners insurance coverage to cover the current contract amount + repair amount sunk costs in the event of fire/tornado/act of God to the home before closing? Current coverage amount is set to what we paid for the home originally almost 15 years ago and set to rental as rented the home for 4 years before selling. Will insurance companies even do that if they know the property is under contract and will likely be sold in the next 30 days? [link] [comments]  |
| Posted: 11 Jun 2019 07:20 PM PDT What does a downpayment have to do with the seller? I mean, they still get all their money at the end right? So what does it matter with how much someone puts down? [link] [comments]  |
| What's the trendy new paint color? Posted: 11 Jun 2019 01:21 PM PDT I'm about to paint one of my properties and put it up for sale. I know gray has been really popular for awhile but it sounds like it is trending out. Does anyone know what the new "in" color is? [link] [comments]  |
| Owners - what do you wish you had compromised on? Posted: 11 Jun 2019 09:24 AM PDT Been seriously looking for a home in a very nice Seattle suburb for a year. Going to every open house in the area, compulsively watching homes close, checking permit histories, googling sellers, etc. It's a very small town (about 3,000 people, probably fewer than 1,000 homes), but we're absolutely determined to live there. Nothing has checked all our boxes, and there's so little inventory that it's a very slow process. Most homes in our budget are becoming available as original owners pass on. It's scary to watch the homes in our budget get bought up, because everything is getting rebuilt or heavily renovated, and prices are only shooting up. So, homeowners, when you were comparing homes, what do you wish you had compromised on? What must haves have you learned were really only "nice to haves"? [link] [comments]  |
| Posted: 11 Jun 2019 06:44 PM PDT |
| Newly Licensed Real Estate Agent SOS Posted: 11 Jun 2019 02:47 PM PDT Whats up Internet?! Here we are... fresh off the real estate exam - PASSED! I was at a neighborhood BBQ the other night and casually mentioned I had my real estate license. My lovely neighbor (lets call her S) mentioned she and her husband were wanting to sell next month. I think she might interview a few different agents so I want to make sure I'm all prepped for a listing appointment - no one knows this neighborhood better than THIS GIRL!! Any who, I don't really know where to start. I thought I had to join a brokerage but after reading some stuff online perhaps I don't?? Also, NAR? Can I still sell real estate without being a member of all these organizations - I don't want to pay all these dues. Wanted to check with some other professionals in the field! [link] [comments]  |
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