What can I do as a landlord if my tenant trashed the kitchen? Real Estate |
- What can I do as a landlord if my tenant trashed the kitchen?
- Normal under this current market for house to go under contract multiple times?
- My realtor has had me show my own house is this weird?
- Bank owned property, trying to buy.
- Landlords are claiming $2200 of our bond, using fake company names?
- Realtor Asking For Cash Only for Application Fee.. Sketchy or Normal?
- Buying a house in the US from the UK to rent it out. Questions
- Seller's attorney purposely not responding to my attorney
- Should I do a cash out refinance or just a refinance?
- When to sell investments and leverage ?
- What makes renting property a good investment?
- Another Floridian botches an auction purchase.
- Having house appraised tomorrow and need advice.
- Mortgage rates are dropping — so why aren’t more people buying homes?
- Made offer, offer countered, complicated situation, can we just forget it and offer on a different home?
- Home Buyers Get Government Help With Down Payments (WCGW?)
- LLC for single rental property?
- HOA put a lien on my house, las vegas, nv
- Home Insurance
- Is buying a home while on the way to residency a good idea?
- What do I need to know?
- A title company owns the house I want
- landlords/renters, are you required to "comment on" anything "negative" on a rental application?
- [US][MD] New Construction Across the Street - Move now or move later?
| What can I do as a landlord if my tenant trashed the kitchen? Posted: 16 Jun 2019 05:53 PM PDT The tenant smashed up and ruined the kitchen with a baseball bat. He also beat the door off of a new refrigerator we just put in last year. Everything, including the cabinets, will need to be replaced. What should we do to best handle this? [link] [comments]  |
| Normal under this current market for house to go under contract multiple times? Posted: 16 Jun 2019 09:56 PM PDT So my wife and I listed our home on June 5. Since then, there have been a number of showings, and we have received 3 offers. 1 we rejected due to a lowball offer, the other two were accepted after a counter-offer on each. Both times, the buyers pulled out within 48 hours. The house is has been well maintained and even has a new roof as of mid-2017. That being said, it's definitely a starter home, and thus, is attracting young buyers. Is it normal for buyers to get cold feet and walk away with such little hesitation? Are there any indicators you have seen to make one believe an offer is serious? It really makes me wish that the REPC was written so that half of one's earnest money is lost if they back out without reasonable cause, or something to that effect. Not only does this cause us stress, but it also makes us potentially lose other, more serious offers. [link] [comments]  |
| My realtor has had me show my own house is this weird? Posted: 16 Jun 2019 07:31 AM PDT Its been 2 seperate occasions where she hasnt been around for a showing and wanted us to show the house. Obviously I want the house to sell so I'll show. But very atypical right? [link] [comments]  |
| Bank owned property, trying to buy. Posted: 16 Jun 2019 08:10 PM PDT I'm currently renting and my lease is up in July. My condo is owned by the bank as it was a foreclosure. A month ago my property management company asked me to renew the lease with a 5% increase. At that time I asked if I could make an offer to buy. They took the offer but said the bank wasn't interested. A week ago they informed me that they will not be renewing the lease and that I can go month to month as the "owner" will be selling the property. The bank bought the property for 90k and it has a value based on comps of about 215-230k. What would be a good offer to the bank now? Do I have a chance? What should I do. I'm currently working with the agent of the rental company. Should I get my own agent? Is there anything else to consider? [link] [comments]  |
| Landlords are claiming $2200 of our bond, using fake company names? Posted: 17 Jun 2019 03:11 AM PDT Im in Victoria, Australia My 2 roommates and I recently ended a 1 year lease on a 2 bed 2 bath apartment. We left the property cleaned (not steam cleaned as our cleaners failed to do so) and with a dent in one wall and small paint damage to one wall. To be clear, this was maximum $300 to get a full clean and maintenance. They do final inspection and give us a huge list of failures to clean, and submit a bond claim of $2205 from our original $2700. We ask for official quotes or invoices, they send a cleaning quote and say they will submit a repair quote, but both companies appear to be fake. http://www.ariainc.com.au/home.html http://www.slickcleaning.com.au/ Both use stock images and have no actual pricing. No trace of either online. We feel we are being scammed, is there anything we can do to fight this? [link] [comments]  |
| Realtor Asking For Cash Only for Application Fee.. Sketchy or Normal? Posted: 16 Jun 2019 07:21 PM PDT I hope I'm posting this in the right sub, but I have a quick question. I'm moving from North Carolina to Pennsylvania. The issue is, we cannot get off of work to go to viewings/meet with the realtor. Luckily, a family member has been dealing with everything for us. She just went on a showing to a rental home and FaceTimed us while viewing the home. Looked very much like the photos listed online, we loved it and is exactly in our price range. My realtor sent me the application to apply and gave me the email to send it to someone else (realtor at a different company). I filled it out and she told me the application fee.. not a problem at all. However, she said no checks, credit cards, online payments, or money orders are accepted- it must be paid in cash. The cash isn't really an issue, but is it sketchy that she won't take the money through any other payment types other than cash? When I did my move to NC, I was able to pay the application fees online. I just think it's strange that I cannot pay with a check. Is this normal or am I overthinking it? I'm fairly new to renting as my current apartment is my first rental. TLDR; Realtor won't accept checks to pay for application fee.. only cash. Sketchy or normal? Thanks in advance for the help! [link] [comments]  |
| Buying a house in the US from the UK to rent it out. Questions Posted: 17 Jun 2019 03:59 AM PDT *This is just a possibility *. I live in the UK amd im not looking to move to the US. But I read a comment about houses being cheap in Detroit. And I didnt realise how cheap. I could buy a house outright from a months wage. I'm guessing there are other areas in America with cheap houses to buy. I also have no idea how renting works in the US. So I have a few questions that I hope you could answer. 1) Does the US Have letting agencies that manage the houses for landlords? 2) If a house is so cheap, will there be a reason for it that would put off prospective owners. What should I look for? 3) Are there any taxes or laws etc. That I should know about? 4) Is this idea reasonable to carry out? Thank you in advance. [link] [comments]  |
| Seller's attorney purposely not responding to my attorney Posted: 16 Jun 2019 08:13 PM PDT The seller verbally agreed to my offer of his co-op 2 months ago. I knew he was going on vacation out of the country for 3 months so he quickly got in touch with his attorney to create a contract before he left. It has now been 2 months of my attorney emailing and calling his attorney over and over again, but to no avail. I messaged the seller a few times and because, he's not in the country, he can't really do anything. He even emailed his attorney and also didn't get a response. It's very frustrating that I have to wait until the seller returns in July to get this contract started. Without the contract, my mortgage lender can't lock in the incredibly low rates right now. Anyone ever dealt with a lawyer like this? [link] [comments]  |
| Should I do a cash out refinance or just a refinance? Posted: 16 Jun 2019 08:56 PM PDT I bought a house last december. I found a mortgage that I could do 3% down and not have a PMI. In return i have a high interest rate (5.2%). Obviously thats too high to sustain long term. Just to confirm, when I refinance I would have to put 20% down since I did not originally do so? So I got a killer deal on my house. Like its worth at least 20k more than when I bought it undermarket. Ive done many improvements so far. I was considering redoing all of the bathrooms. Simple stuff such as replace vanity and one of them replace a shower. I am new to this world but when its reapraised it should be worth more right? Should I do a cash out refinance and take that money and put towards the 20% down payment or should I put my own cash in it and just do a regular refinance. Thoughts? [link] [comments]  |
| When to sell investments and leverage ? Posted: 16 Jun 2019 04:32 PM PDT I've owned a rental property for 10+ years and it has a good amount of equity built up. It's in a "hot" market and I anticipate it to keep appreciating at a steady pace (its doubled in value over 10 years so far). The amount of cashflow it throws off is modest, but not amazing. I'm considering selling it ,and using the proceeds to buy 2-3 properties in not so hot markets, but thinking that 3 properties may be able to throw off more cash flow and still appreciate modestly over time. I could then use the cashflow to buy more.. Are there any standard calculations or formulas I can use to help me understand my options? I looked at cap rate but I need to include the mortgage as part of my calcs.. [link] [comments]  |
| What makes renting property a good investment? Posted: 16 Jun 2019 07:26 AM PDT In my country, If you buy a $100K property, you'll make that amount by renting it for 20 years. To my understanding that doesn't seem to be a high return on investment, is it the fact that it's a source of passive income? Or something else? Also, how often can you increase the rent fee? [link] [comments]  |
| Another Floridian botches an auction purchase. Posted: 16 Jun 2019 03:47 PM PDT |
| Having house appraised tomorrow and need advice. Posted: 16 Jun 2019 08:34 PM PDT I'm having my house appraised tomorrow to refinance. I bought my house at 287,000. I owe 200,000 on my house. I want to pull out 26000 to pay off credit cards and 30,000 to fix up the house and having a decent amount of savings. Houses similar to mine in the area are selling for 350-380k. Here is the part that concerns me. The front yard used to be grass but there was a ton of weeds so we pulled them so now it's just dark soil/dirt. We patted it down as neatly as possible and made sure the dirt did not spill over to the sidewalk. The toilet in the masters bathroom doesn't flush, the water heater wasn't inspected after we installed and replaced it. There was water damage from a leak upstairs that we got fixed and patched up. I know we won't get top dollar but with the money, I'd fix these things. Will any of this stop me from getting my loan? I maxed out my credit cards to fix everything I've done so far. I don't want to push back the appraisal because it will stop me from getting a break on paying next month's mortgage. [link] [comments]  |
| Mortgage rates are dropping — so why aren’t more people buying homes? Posted: 16 Jun 2019 11:33 AM PDT |
| Posted: 16 Jun 2019 08:15 PM PDT We've been looking at homes 2.5 hours away from where we are now nearer my husband's family. We went up north looking last weekend and found a great home, so we made an offer. We're on a really small budget, but the lender told us we were approved up to $90k FHA. So great, we offered 75k, which we know was a little lowball for this home. It's a 2003 manufactured home on a crawl in a mostly recreational lake community in northern MI. It hasn't ever been updated that we can tell, but really nicely maintained. Lake access across the road, nice large yard, and in a pretty relaxed POA that my aunt also owns a seasonal home in. Was listed in the fall at $91k, listing pulled in Dec as the season wound down. Relisted in May at $91.5, price dropped to $89.5 beginning of June. Seller countered back at $85k which isn't unreasonable. Come to find out, instead of $90k being our max, $75k is our max even though we have a preapproval from our lender for $90k. So, agent and lender talked before we offered and decided that $75k was a good offer to make. When seller countered, we found out that's actually going to be our max budget and we can't counter back unless we switch from FHA to USDA. Something about our DTI with FHA. Except... USDA won't finance a manufactured that old. In the pilot program it must be 2006 or newer. I'm irritated... But that is beside the point. This all went down between Wednesday and Friday. Agent and lender are apparently waiting on the seller to confirm the age of the home and the lender is talking to the underwriters I guess (I am hearing this second hand as my husband is dealing with everyone while I work). So, there's still a small chance we could move forward with a bigger offer. But it's unclear right now and not likely, honestly. We are on a tight timeline at this point. Getting to this stage took forever and our lease ends July 31st. We have kids we need to get registered for school and to do that, we need to know where "up north" we'll actually be living. We plan to make the trip back up there again tomorrow to look at some other much cheaper homes in different areas. Areas that neither of the agents we used last week cover (they each covered two different areas we looked in and wouldn't show homes outside of those cities). So, I guess we'll be involving a third agent. If we find something else, can we just offer on that instead? Or are we stuck waiting to see what happens with this first house we bid on? I'd love it if house #1 would work out, but I'm not holding my breath at this point. I feel really bad for involving two agents who now won't get paid for helping us, but it's the nature of the area. It's very rural and spread out. We've cast a wide net to find a decent home that meets our basic needs, will pass for FHA or USDA, and doesn't need tons of work right out of the gate. This whole process has been a total circus from the start due to factors out of my control and I'm ready to just pick a house and move. I'm so over this. [link] [comments]  |
| Home Buyers Get Government Help With Down Payments (WCGW?) Posted: 16 Jun 2019 10:13 AM PDT |
| LLC for single rental property? Posted: 16 Jun 2019 04:07 PM PDT Is this worth it? especially after you own the property already and would need to transfer? Is insurance more expensive? Would I be able to attribute expenses such as car/office supplies/etc to the LLC? [link] [comments]  |
| HOA put a lien on my house, las vegas, nv Posted: 16 Jun 2019 03:55 PM PDT So I fucked up. I'm terrible with getting my mail and have the bad habit of sticking my head into a hole and not dealing with things. I'm really shitty with adulting and I originaly moved into this house with my ex but he kept me on track and when we broke up, i became a mess and also got laid off and have been living paycheck to paycheck. I havent been paying my hoa monthly fees and i havent been keeping track of my mail and the due dates. I am also broke. I'm tempted to sell my house for cash so i can gtfo asap, but those sell for cash businesses as shady af and my property's worth has been going up everyday. I finally went through my mail and saw all the offers on my house and my bank warning me i needed to pay off my debt by the 13th, but its the 16th now and i dont have the money anyway. I don't know what to do. What will happen if i get foreclosed on? I pay my mortgage on time btw. Thats all done automatically. My hoa fees are not, i have to mail them checks every month but i stopped cuz i thought i had sent them their permission slip for auto payment, but i guess not :(. [link] [comments]  |
| Posted: 16 Jun 2019 07:34 PM PDT When do I start looking for home insurance? Before or after the appraisal? [link] [comments]  |
| Is buying a home while on the way to residency a good idea? Posted: 16 Jun 2019 11:56 AM PDT We live in bay area and are tired of renting a 1 bd with little space, started to look for a house to rent and rental payments are high closing on the mortgage cost if we make a 20% down payment. My only worry is me and my so both are on a work visa in US and our application for permanent residency is in progress, it could take as much as 10yrs before we have a green card. Many of my friends and colleagues have purchased a house with the hope that they will continue to be in the country till they eventually get a green card. I worry that while things are well right now, what happens if we have to leave the country for one reason or another. Will we be able to sell the property and get most of our money back or will we be stuck with a white elephant unable to sell it due to not being a resident. I talked to my realtor and the worst case scenario we have a solution for goes like this: We lose the visa, have to leave the country, I have enough savings for us to make 10months of mortgage payments. I ask the realtor to sell our house, housing market is not good and our house goes 10% below the buying price. I am not in the country, I travel to US embassy in my country to sign the title over to the buyer. While I am willing to take a loss of if the market tanks, my biggest worry is that not being in the country being the barrier to not able to sell at all. Experts of reddit, please help us make a call here, if you have any experience selling property while being out of the country, please enlighten us. Thank you!! [link] [comments]  |
| Posted: 16 Jun 2019 07:26 PM PDT I'm interested in learning about the real estate industry's consumers. I've done some basic research like learning a few demographics about homebuyers, like age, income, and stuff like that. As well as buying seasons and such. My issue is I know that of the little things that I've come to research are very basic. My thing is I want to become an expert on understanding these consumers. I guess what I'm trying to say is what are better questions to ask? What should be my focus to learn this market? I'd like to hear some ideas of the types of things I need to learn like maybe, which state sells the most homes? Or how many of the buyers are investors? [link] [comments]  |
| A title company owns the house I want Posted: 16 Jun 2019 06:59 PM PDT Has anyone seen this before? I'm just curious as to how it may play out for me and how it will affect making a (reasonable) lower offer? There are no other offers on the home, it's been empty for years, been on the market for 2 months. My offer will be in line with neighborhood comps. Edit: my realtor called the listing realtor, that's how we found out who owned it. Nothing about this screams scam. It is a regular mortgage listing. I just never considered that a title company could take ownership of a home. [link] [comments]  |
| landlords/renters, are you required to "comment on" anything "negative" on a rental application? Posted: 16 Jun 2019 12:21 PM PDT Had this elsewhere and realized I probably posted in the wrong place, sorry. Hello reddit, Here is the question exactly: "We may run a credit/background check. Is there anything negative we will find that you want to comment on?" Got a rental application that has this question worded this way. II've never seen this before. I do have a very old misdemeanor that is nonviolent and for rental purposes they will not care about it. I have rented from a few places with no problem. Because I am hoping to get it erased later this year (have not had the chance to for traveling reasons) I would rather avoid putting the misdemeanor on the app itself. But it feels like with this question they are giving me an "out" if I choose not to comment. I'm a great tenant otherwise. No issues with financials or anything. Great credit. Can someone with a better legal background tell me if I am legally required to "comment" and if my app will be thrown out if I don't? They are not asking me to lie and say I have nothing. They are just asking if I want to comment on it. I think. the more I think about it the more it sounds like they are using a really shady way to get you to reveal any misdemeanors even though they can't legally ask if you have them. (I actually don't know if this state has a law against asking about misdemeanors this is just my impression) Location is the midwestern USA. I'm not sure if the state matters or does it? And now I am seeing this which seems to say nothing beyond 7 years matters? https://www.backgroundcheck.org/fix/fixing-criminal-history/ [link] [comments]  |
| [US][MD] New Construction Across the Street - Move now or move later? Posted: 16 Jun 2019 06:15 PM PDT |
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