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    Thursday, July 11, 2019

    [AZ] My family and I are about to lose our house this Tuesday, is there anything that can be done? Real Estate

    [AZ] My family and I are about to lose our house this Tuesday, is there anything that can be done? Real Estate


    [AZ] My family and I are about to lose our house this Tuesday, is there anything that can be done?

    Posted: 10 Jul 2019 05:44 PM PDT

    I am not the homeowner, I'm a 19 year old college student and I live with my parents. I posted on here (I think it was this sub) a couple months ago asking for advice on what can be done about my parent's house in pre foreclosure. The answer I got was that it's not too late, my dad (homeowner) would just have to call the bank and work with them to reach a solution. Well, the time is here, nothing has been done, and my house is going to be auctioned off in a week. The what's and why's aren't important I suppose, and I'm not 100% sure what's going on, but I do know that the house is going to be auctioned off on July 16th, and my dad is just barely trying to fix it TODAY. I'm just wondering if anyone knows if it can be fixed in such a short period of time, or if we're just screwed.

    submitted by /u/Throwaway2872046
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    Selling Home - Neighbor wants to make an offer before we get a realtor.

    Posted: 10 Jul 2019 03:12 PM PDT

    Hello reddit! My wife and I will be moving to another country within the next 4-6 weeks. With this move we're going to need to sell our home. We have a good relationship with our neighbor, who does landscaping work around the town. The neighbor's son wants to consider buying the home. We would love to sell to them, and figure it could make things faster and easier (as they would be buying the home "as is").

    Any suggestions - things to look out for, things to know, things to do prior to allowing the sale to go through? Any help would be greatly appreciated, going to consult with some folks - but figured people here may have good advice.

    Thanks!

    submitted by /u/SpyderDM
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    Just found out the house I'm buying had a fire insurance claim 2 years ago totaling $80k. Was not disclosed.

    Posted: 10 Jul 2019 07:17 AM PDT

    QRD: buying a house and close in a week. Just found out from my insurance guy there was a fire damage insurance claim that the seller did not disclose. Primarily smoke damage in the basement. Fire originated at the water heater. Explains the why the water heater, furnace, AC were all replaced at the same time. There's also a lacquer coating on the basement ceiling... So now all that makes sense. The ceiling is not finished (exposed subfloor), and I didn't notice obvious damage other than the lacquer coating (I assume to trap the smoke smell).

    Was the seller obligated to disclose this? State is Missouri. They stated they "honestly didn't know they were supposed to because it was 2 years ago." It's not the insurance claim itself that ticks me off, it's the dishonesty. Working on getting the full claim report so I can look for myself. Also, the only thing found by my 3rd party inspector was that the roof was end of life, seller is replacing to my specs. Passed county inspection as well.

    Appreciate any feedback.

    submitted by /u/TweedleThis
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    Bullying the buyer as a tactic?

    Posted: 10 Jul 2019 05:58 PM PDT

    I am in the process of purchasing my first home using a VA backed loan, and after a few weeks of searching found the right home at the right price and I pretty much instantly knew it was perfect. My agent helped me write up an offer and we wrote up what I thought was a PRETTY fair offer.

    We asked for 3% off the asking price as it was honestly a bit overpriced (about 8-10% over) and asked for 3% ($8,000) in concessions. They said they'd like to keep their washer and dryer so we said they could keep it. I sent it in thinking I made a pretty fair offer considering:

    1. The seller was asking a bit high, but not crazy
    2. That they don't live in the home anymore full time (vacation home)
    3. They have had it on the market for a year now, switching realtors three times
    4. They haven't gotten a single offer (It's a bit out of the way, and they were originally asking for nearly 20% over the value)
    5. The most a house has sold in their subdivision for is 10% below what they are asking

    The response we got was:

    • Bringing the price back to asking
    • Double the amount for earnest money from the 1,000 I offered to 2,000
    • Halved my concessions
    • Would only pay for cheapest home warranty
    • Moving the closing date up 3 weeks and saying if the VA doesn't approve it within 3 weeks, we have to secure other funding

    What is even the point of trying to negotiate like that? If you haven't got a single offer in a year, why do you think being a dick to your first offer is the way to get it sold?

    Any idea how I should respond? I'm thinking about just walking away and telling them I'm not interested. I absolutely love the home and very much want it, but I'm not going to let myself be bullied into bad terms.

    submitted by /u/Carobu
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    My home buying timeline

    Posted: 10 Jul 2019 08:48 AM PDT

    This sub was such a huge help to me while my husband and I bought a home, I thought I would type up a timeline/our story of being basically our first time buying a home and getting a mortgage. Hopefully someone will find it helpful.

    Approximately a year ago, we began the process of selling our 20 year old double wide mobile home. Mobile homes are awful and selling them is not easy. Ours was paid off and we were tired of our hot water heater pilot blowing out, pipes freezing, an a/c that was so loud and right in our living room, etc. We ended up selling for less than $10000, but felt such relief. It needed a lot of work (flooring, one ceiling panel had been destroyed by a water leak, hot water heater access door was falling apart) and we didn't want to put anything into it because we knew we wouldn't have any return on our investment. We moved into a new construction townhome that we rented. [Spoiler alert -- I really struggled with the move. And the other half of our duplex is rented by people who don't seem to have any respect for their house, play loud music at all hours and also have a pit bull that tries to attack my dachshund through the fence.] We were happy renting and had no desire to change that, but we are in the same area we lived previously and we had been talking about moving closer to town (we live in a suburb). We had started talking about different apartment complexes that were in the area we wanted to be in. My husband wanted to buy a house, but I was not at all entertaining the idea.

    May 4, 2019 One of my Facebook friends posts a house that's for sale in their neighborhood. I look at the pictures and think that maybe a house wouldn't be awful, given my dislike of our current rental. My husband works in the area of that house and drives me past it to see where it is. It is not at all where I wanted to live.

    May 5-12: We talk more about buying a house, start looking at Zillow, talk about where we want to live.

    May 13: My husband has a minor medical procedure in the AM and that afternoon we see a condo we like on Zillow. I hit the "request a showing" button on it and not even 5 minutes later, a real estate agent calls me and we agree to see it in a few hours. My husband works 11 am - 8 pm Monday through Friday and I'm a teacher, so it was a rare time that we both had off on a week day. We hated the condo, but liked the agent and agreed to set up some appointments with her for the weekend to see other properties.

    May 17: Applied for preapproval for a mortgage through our long time bank. Had it within 2 hours.

    May 18: We see three properties. Hated 2 of them. Felt like the other one was the right place for us. We are in our late 40s, have 3 adult children, only one of whom lives at home (still in college) and this was a little patio home with no lawn maintenance in a very quiet neighborhood. Perfect for us.

    May 19: Went to 3 or 4 open houses. Disliked one of them, I liked one but my husband hated it. We decide to offer on the one we saw the day before that felt right. It was being offered for $218,000, we offered 208, we agreed to $211. Closing is set for June 28.

    May 20: Everything signed and loan officer starts working on it. Appraisal is ordered by bank; we set up an inspection for May 30. When loan officer gets into it, she realizes that it's not a single family home/patio home as we thought, but it's a condo. Interest rate raises .5%. I am upset because sellers had just bought the house eight months before (they lived in neighboring house and had bought this one to flip it) so they had to have known it was technically a condo, but had listed it as a Single Family Home. We decide to buy anyway.

    May 30: Inspection. We had a father/son team and they were great. Every window had a broken seal. One of the shower heads needed changed. The garage floor had cracked (and the sellers had put a rug over it in the middle of the garage). The HVAC was 31 years old but still worked. Strangely, it was on heat at the end of May and all the vents were closed on the upper floor. Then the son saw what looked like a damp spot. They looked at it through a special camera (looked like something from Ghost Hunters) and measured the moisture in the area. It was 60%. After they saw that, they found two more spots like that on different walls. The unfinished part of the basement had extensive repair due to foundation starting to fall in (steel beams) and waterproofing wall cracks. Because this moisture was seemingly coming from inside the wall, the only way to figure out what was happening and how to fix it was to tear out all the drywall. The sellers had already regraded the yard to help with drainage, so that should not have been the issue.

    June 1: Based on the inspection findings, we decided to walk away. Due to the way the contract was written, we still had to give the sellers a chance to make repairs so we asked for a ridiculous amount of repairs. The sellers reject them all, we get our earnest money returned. (The sellers took the house off the market and it continues to be off the market.)

    June 3: I go with our realtor to look at 2 new homes. One was a regular home in an area we liked and the second was a patio home but on the wrong side of town for where we wanted to be. I liked the patio home but it was very brown. I like it enough that the realtor makes another appointment to view it the next morning with my husband (I was substitute teaching summer school this week from 8-noon so my husband and I weren't able to see anything at the same time.) That afternoon, my husband sees a new home posted on Zillow that is right in the area we want to live and in our price range, so I make an appointment to see it with our realtor the next day after I finish teaching.

    June 4: Husband sees the patio home. He likes it just fine but has concerns about no fence and the homes are very close together. At 1 pm, I see the home he found on Zillow. On my way to the appointment, I tell him that if I like it, I'm going to tell our realtor to put an offer on it. I really, really like it. I sit with the realtor and we discuss what to offer. It's listed at $219,900. She says offer $217K, ask for $2K toward closing and a home warranty. I decide to offer full price but keep the closing and warranty. That night, she calls and says they have 2 other offers already, have more showings the next morning, and are asking for highest and best by 2 pm the next day. My husband and I talk and drop the closing credit and warranty. We are putting down more than 20% and using a conventional loan. I'm hoping that makes our offer strong enough to be picked.

    June 5: I chew off all my fingernails, especially after 2 pm. Around 5, my realtor texts me with a "hinting" message but doesn't outright say we have the house. She says she doesn't want to say it until she has a signed contract in her hands from the seller. About an hour later, she calls and says we got it. The husband is travelling and not able to sign until late that night, but they chose our offer.

    June 6: loan process begins again, I get home owners insurance set up, and we start it all over.

    June 8: The sellers are nice enough to let us see the house with our realtor again because my husband still hasn't seen the house we now have a contract to buy. He likes it. The location is amazing, but the house is quirky and fun too.

    June 10: Loan processor emails me because I sent the wrong tax returns. They asked for last two years and I was looking at the date I saved them, not what year the return was for. I send the right documents.

    June 12: My husband's employer uses a website (maybe through Equifax?) to confirm employment and wages. He is working and not tech savvy but he's supposed to go in and request a "wage key" and then send the link to the loan officer. I am no longer sub teaching so I have his log in info and try to do it, but cannot get it to work. He calls the website and they say it's his employer's issue. He calls HR for his company and they say, yes, it's our issue but they don't know how to fix it. He's been employed with them for 20 years so he should be in the system. Finally, they reset it and it works and I get the link to the loan officer.

    June 13: Home inspection. The best inspection our team has ever done. One window is painted shut in the master bath and the HVAC filter needs changed. We do not ask for any repairs and we move forward. The appraisal comes in within the week for $224,000.

    June 19: Loan processor says the underwriter needs documentation about where we got the money for our downpayment. My husband's parents both passed away in the last six months and it was inheritance from multiple places. My in-laws had invested in a lot of obscure outlets. My FIL was a pastor and the one that kept sticking was that he had invested in his church's loan fund. I assume what he did was invest in it, the church gave loans to other pastors as needed, they paid interest on their loan, my in-laws made money on their investment. Anyway, it was called "AG Loan Fund" and we had to prove that it was not a loan to us, even though the check we received was from that fund. We managed to do that with copies of the letters he received and actual checks and check stubs. My husband saved every piece of paper he got relating to his inheritance and we deposited our checks via the mobile app, so we actually still had the checks to scan and submit.

    And then... a whole lot of nothing. I set up utilties, a locksmith for the day after closing, schedule for a spider spraying before we move in (there were tons of dead spiders in the basement and my husband is deathly afraid of spiders). We pack up most of the house; a lot was still packed from last year's move. I'm a minimalist and we keep it pretty clean and uncluttered.

    June 30-July 7: we go on vacation. My husband has to request vacation on January 1 and we had no idea we'd be buying a house this year. So we go on vacation. On the first day, we buy furniture for the new house and set it up to be delivered the day after closing. We pay cash. Only problem was that our debit card has a daily limit and I had to get them to raise it for a day. We have a great time on vacation.

    July 2: We get a closing disclosure from the bank. We esign while on vacation. The next day I get an email from our loan officer saying we are good to go, she'll see us at the closing. I get a final CD from another loan officer on July 5 with a new number on it. (Our original loan estimate was for $56,000 cash to close, but the final disclosure was $53,000. Still not sure I understand why it went down when most people seem to have it go up, but I wasn't going to argue.)

    July 9: We go get a cashier's check for our cash to close. I plan to go do the final walkthrough on the house at 6 pm, but our realtor texts me to say they won't be out of the house until late that night. Apparently the wife is a night owl. So we reschedule to do it before closing.

    July 10: 7:30 am We do the walkthrough. They left some random things, but nothing that's a problem. In fact, since we are renting currently, the ladder, garden tools and small vacuum are great. We get to closing site at 7:50, we almost immediately start signing papers, we're done by 8:30. We meet our loan officer (who I had never actually met) on the way out the door.

    We go back to the house and take a selfie because hey, it's our house now. I'm planning to go back after lunch, drop off a load of boxes and clean toilets and wipe down cabinets. It's clean, but not as clean as I would like.

    Tomorrow: We're having the regular door locks rekeyed and installing keypad deadbolts. I need to figure out how to reprogram the garage door openers. Furniture from 2 different places is being delivered. Spider guy is coming to spray.

    Friday: Movers show up at our rental at 8:30 am. All 3 of my adult kids will be here to help move. My husband is going to work, so he'll leave the rental in the morning and go home to our new house at the end of the day.

    Next week: we're adopting a rescue puppy. :)

    Again, just our process and not indicative of anyone else's situation. Not a realtor, lawyer or have no advice. I just thought someone might learn from our journey to home buying.

    submitted by /u/kayellyouenddee
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    Home Inspection Report

    Posted: 10 Jul 2019 11:37 PM PDT

    Here is the home inspection report that I just received on a home I am considering buying: https://imgur.com/a/3YLJVyV

    Is it normal for a house to have this many issues and concerns? Obviously I didn't expect it to be perfect but this seems like way too many red flags. Any help is greatly appreciated!

    submitted by /u/Clint_Leeper
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    Inspection dates, rain, and catching moisture issues

    Posted: 10 Jul 2019 10:50 PM PDT

    We're looking to buy a house and looking to schedule an inspection. A friend that has bought in the area before said moisture detection really saved them from buying a house with issues that couldn't be seen from an exterior survey, and they happened to inspect soon after rain.

    We'd love to schedule soon after rain, and it rained earlier this week here, but schedules aren't lining up. There is potential rain near the end of our inspection period, but we'd ideally not wait till then so we can get other inspections in case something comes up (possible moisture? mold test, etc)

    How long after rain can the moisture sensors still reliably detect worrisome moisture through the walls during a summer with temperatures of 90F-70F, and 55 RH?

    submitted by /u/robobub
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    Can you haggle interest rates, really?

    Posted: 11 Jul 2019 02:31 AM PDT

    I'm in the process of refinancing my mortgage. I keep reading blogs, advice columns, and articles online that give tips and tricks for negotiating the best rate possible with your bank.

    Is it even possible to negotiate a lower interest rate than what the "going rate" is, without paying points etc? It seems that all banks' rates are tied to what the bond market is doing, and there is a pretty uniform rock bottom rate that every bank is offering at any given time.

    submitted by /u/smooth_obturator
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    Have opportunity to buy commercial lot and small house from motivated sellers. Need advice.

    Posted: 10 Jul 2019 07:10 PM PDT

    Made contact with out of town owners for two lots.

    One is approximately 1.1 acres of commercially zoned lot. It is very overgrown and has no structures.

    Second is 1/4 acre lot with small two story house that is in need of pretty extensive renovations.

    We just moved into house next door and I wanted to try to get these before someone bought and put a trailer park in it or something. I looked up owners info on property appraiser and sent a typed letter to their address. They called today and we discussed.

    They explained the property has a dark history in their family. Something to do with a brother that took advantage of a relative and is now serving life in prison. They have no plans for either property and asked me what my offer is. I explained I havent done my research yet and just wanted to see if it was available before I put time into it.

    Questions:

    How do I go about researching empty commercial property value? It is in a decent location. Centrally located, but not on a main road. It would be great for a boat or rv storage complex, or a normal storage complex, I just have no idea how much it would take to build something like that or any of the process.

    House property would be a great flip or BRRR. I can work the numbers out on that myself.

    Should I make two separate offers, one for the house, and one for the lot?

    I dont want to low ball them, but I dont really have any plans for the commercial property. I was considering using a HELOC loan to pay cash for it. Pros/cons in doing this?

    Any advice would be appreciated. I just spoke with them today so this is at ground zero.

    State Florida

    submitted by /u/OctaveTheory
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    Guidance as a tenant in a foreclosure

    Posted: 10 Jul 2019 04:23 PM PDT

    I am currently based in San Antonio, TX and we recently discovered that our rental is being foreclosed upon due to non-payment by the landlord since we moved into the house. Unfortunately, this is something we discovered through public records and not by a disclosure from the landlord. We checked with the county due to constant receipt mailers from lawyers on how to stop foreclosure. There was public auction, but it has a temporary stay until our original lease ends at the end of the month.

    This is where our concerns begin.

    A few days before we discovered the foreclosure/auction, we signed a lease extension for another year. We signed it and the property management company signed it. To the best of my knowledge, the property manager has the authority to sign on behalf of the property owner, but I have no guarantee of this.

    • Is the new lease valid? As it was not signed by the landlord and the home was listed as public foreclosure at the time, I'm not certain that it is.

    • If the new owner (when the house sells) does not want us to remain, how long can we expect to remain in the house? My understanding is that we should have 90 days or until the lease ends, whichever is greater, but this presupposes that the extended lease is actually valid.

    • If the new owner honors the new lease due to legal requirements or a perception of legal requirements, but they want us out, what recourse do they have? Can they effectively force us out by harassment or fabricating a violation of the lease?

    A few notes:

    • The property owner has apparently not shared with the bank that there is a new lease in play and they are no longer communicating with the property owner.

    • We are not currently paying rent (at the recommendation of the property manager) until the owner confirms retention of the property or the new owner is identified. We are ready to pay rent and any back rent the instant either one of those conditions is satisfied. If the current owner is not the legal owner, the property manager does not want to give him the rent and force us into a situation where the new owner is asking for money that we don't have. To be clear, the property manager will not accept payment from us until he has confirmation that the landlord is still the legal owner of the property because if he is not, the property management company has no legal right to collect rent on a unit they no longer represent as their relationship is null and void if the property is sold, regardless of method.

    • We have a potential interest in leaving at the end of our original lease, but this exposes us to the risk that the new owner sees the extended lease as valid and can come after us for any rent through the end of the agreement. Is this a valid concern?

    • Due to the inability to pay anyone while this is sorted out, can this be used as a sign of non-payment when the new owner takes over even though I have the money and I am ready to make all back payments?

    I have a pregnant wife and a child that is supposed to start school in a month, so the lack of information is obviously frustrating. Our great preference would be to stay in the house through the extended lease period so that we may continue saving for a home purchase. We are deeply concerned of potential "funny business tactics" that may be used even though we are not contesting the validity of payments.

    What can we do?

    Edit

    To my understanding, we are covered by the protecting tenants at foreclosure act.

    Some key details:

    • We have the notice to stop payment in writing.

    • We have not received notification of termination of the lease.

    • Even if the renewed lease is not valid (I have confirmed that it should be), the original lease, unless stopped by notice of cancellation by either party, goes to a month to month lease.

    • This information, along with the PTFA, ensures that we have at least 90 days in the house, effective from the moment we receive written notice to vacate. If the lease renewal is accepted as valid, and it should be, then we can stay until the end of the lease.

    https://www.hudsoncook.com/article/the-protecting-tenants-at-foreclosure-act-back-to-the-future/

    submitted by /u/dreamscapesaga
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    When is the sold sign put up?

    Posted: 10 Jul 2019 11:43 AM PDT

    I'm scheduled to close next Monday on a home. When do they put up the sign that says it's sold?

    submitted by /u/NYCambition21
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    Notary public

    Posted: 10 Jul 2019 10:22 PM PDT

    Do realtors still use notary publics for signing etc.?

    submitted by /u/Roxchic
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    DSCR loans

    Posted: 10 Jul 2019 10:02 PM PDT

    Hi folks,

    Has anyone here used a DSCR loan to purchase an investment property, specifically a rental? If so, why did you choose this loan and what rates did you get vs conventional loan? Do you still have that loan or do you eventually refi out of it after a while? Thanks in advance!

    submitted by /u/ihaveagooddog
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    First time home owner sellikg and looking for answers

    Posted: 10 Jul 2019 05:52 PM PDT

    Hey! I was trying to find out if I should get 3 quotes from real estate agents and all I can find are ads for real estate agents.

    We picked one that seemed pretty good, but Zillow says we would sell for about 145k and she is saying 100k-110k. She also says that houses like mine are selling in our area in just a day-couple days. This makes me think that the market would be closer to the 145k mark.

    So should I look at other realtors, and would it be reasonable to assume that I would be able to get closer to the 145k mark?

    submitted by /u/Blue_Octopus_21901
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    Escrow Extension made by seller

    Posted: 10 Jul 2019 05:18 PM PDT

    I'm a first home buyer (Condo in CA) and the escrow were supposed to close on 7/1/2019 but the Seller asked for extension to 7/12/2019 to fix what he agreed to fix (termite treatment class 1). Im expected to close in 3 days (7/12/2019) but if it happened again and another extension was requested beyond July 12, 2019 what am I supposed to do? In what way does NOT closing on time or as agreed upon affects me (Buyer)?

    submitted by /u/Agoooz
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    Commercial Real Estate Appraisal Career Pathway, Outlook, and Salary

    Posted: 10 Jul 2019 02:43 PM PDT

    Hello, I'm a college senior and work as an analyst for a commercial real estate appraisal firm on the west coast. I'm thinking about going into commercial real estate appraisal because my current work is preparing me for a career in the field and I just wanted to get an idea of what to expect. I was just wondering what the commercial real estate appraiser career path looks like, the work during each stage, what it takes to get to the next stage, and most importantly salary.

    My current understanding of commercial real estate appraisal is that:

    1. a candidate must have a bachelors degree
    2. Be accepted into a trainee position post grad with salary around 35k for entry level trainee on the west coast
    3. After 300 hours of school coursework and 3,000 hours of trainee work under a general appraiser the trainee is eligible for the general certified appraiser exam ( roughly a year and a half of full time trainee work)
    4. general certified appraiser

    and that's all i know. I'm familiar with MAI certifications giving people the ability to earn 100k+ but is this feat possible as a general certified appraiser if one works long hours? Currently as an analyst I do most of the research for each appraisal and I was wondering what would change as one became a certified general appraiser and then eventually an MAI certified appriser. Is it normal to see salaries around 200k+ for MAI certified appraisers on the west coast, specifically California Southern California and the San Francisco bay area?

    Thanks for reading my post over. I wanted to get these questions out because I'm very young and so want to make a calculated move into a career that I can grow and expand into my 30's and 40's. The salary component is important to me because I'll be the sole bread winner in my family once I graduate so I'd like to gauge what level of security I can provide my family. Any insight is appreciated.

    submitted by /u/HolisticReview
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    Hello everyone! I have a weird real estate post rent back legal question and I hope you can help!

    Posted: 10 Jul 2019 08:03 PM PDT

    Okay, so my husband and I bought a house about a week ago with a rent-back agreement, The purchase agreement states that sellers occupancy will begin on 7/2/19 and end on 7/12/19 at noon. We've been trying to get our internet ready to move over the weekend and spectrum kept telling us that the previous occupants haven't cancelled their service, so we texted them and they respond saying they were having problems with their new house and aren't sure when they will be out. As per the purchase agreement, am I wrong in assuming I can just go in and change locks on Friday at noon because it's in the agreement? The house is located in Wisconsin if that helps any legal things. Thank you! Also I do apologize if this is the wrong flair. P.s I'm super irritated that they couldn't even tell us this and waited until we texted them.

    submitted by /u/Krosrightboob
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    Buying a second home and turning the first into an investment property

    Posted: 10 Jul 2019 04:01 PM PDT

    My wife and I bought a 1b/1ba condo in 2015 and it has gone up considerably in value since. Our goal now is to buy a larger house that we can move into, while keeping this condo to rent out.

    Relevant info:

    • $280k principal balance left on condo, could likely sell for ~$550k (down from $630k sale in our complex about a year ago)

    • Bay Area, California. Very close to the rumored new Google campus, which could cause value to increase in near future.

    • $270k combined income

    • $150k savings in cash

    • ~$2100 monthly payment for condo ($1350 mortgage, $350 HOA, $400 property tax)

    • No other debts (Cars paid off, no student loans, etc.)

    • Quick research on comparable apartment rentals shows we should be able to rent our condo for at least $2100, possibly even ~$2500.

    The houses we have been looking at are in the $950k-1M range, in roughly the same area as our condo. Ideally, we would like to put only 10% down on a new house, to leave us some left in our savings. According to some quick online mortgage calculators, this puts a 900k loan at $5k-$5.5k per month (including taxes and PMI). We believe we'd be able to afford this fairly comfortably, though we haven't actually be pre-approved yet (given a 50% dti, and a combined biweekly paycheck of ~$6000, I'd think we'd qualify?). This is where my questions arise, and where I'm seeking advice.

    Realistically, I see three options:

    1. Try to buy now with 10% down. This seems like the hardest option (buying with less than 20% down is more expensive, dealing with tenants), with potentially the highest return (market has gone down slightly in past year, seems like a good time to buy).

    2. Sell our condo, buy a house with 20% down. This seems like the "safe" route, given that we can lock in considerable profits from our condo. But it feels like somewhat of a wasted opportunity, since we are selling when the market is dipping.

    3. Wait until we have 20% down saved (one year from now, maybe?). This is my least favorite option, as housing prices or interest rates may be higher then. We'd also just like to live in a bigger house rather than stay in our condo, but we'd be fine either way.

    First, just seeking general advice and opinions, which of these three seems like the best option? Long term I know it's best to own as much property as possible so we would ideally like to go with option 1, but does it seem feasible and affordable given our situation?

    Second, I've done some research about mortgages with only 10% down and my basic understanding of the options are: PMI, Piggyback loans or HELOCs, or loans with just a higher rate baked in. Though they're all different fundamentally, they all seem to be roughly the same cost wise, at least initially. The pros/cons of each seem to be in how fast you can pay down the principal to get rid of PMI or HELOC. There's also the possibility of a cash-out refi, but the interest rate we currently have is lower than market rates so I'm not sure if that's a good idea. Does anyone have any experience with any of these types of loans, or any advice on which is best? Also, are there any other options that I haven't listed?

    Thank you.

    submitted by /u/mister_blasty
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    How to ask a weird question to an estate agent

    Posted: 10 Jul 2019 12:59 PM PDT

    We're looking at buying a house that's being sold due to the owner dying, but I feel like I need to know if they died in the house or not.

    A) am I being ridiculous? B) how do I go about asking this question?

    submitted by /u/rosieontheradio
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    Question regarding senior assisted living

    Posted: 10 Jul 2019 06:51 PM PDT

    I don't know where else to post this and find an answer, searching online has provided no answers. My grandmother is looking to live on her own at 71 years old and does not earn much income, however, she is still legally married to her husband but they have been separated for years now, reason being they own a house together and do not want to sell. My question is can she live in a senior development even if she is still legally married but separated?

    submitted by /u/Brudesandwich
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    Buying a house my parents just bought

    Posted: 10 Jul 2019 06:39 PM PDT

    My parents bought a house for me which I will buy from them. (I wasn't approved for a loan at the time). Is there a way to avoid paying double closing costs from when my parents buy it and then when I buy it from them?

    submitted by /u/the_new_dev_guy
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    Home buyer problem...sellers agreed to fix something but wasn’t fixed right who’s responsible?????

    Posted: 10 Jul 2019 06:31 PM PDT

    Bought home and sellers agreed to paying my closing cost and fixing a inground pool. Signed contract at closing saying it would be fixed. The sellers had already hired a guy of their choice before closing to start fixing the pool they paid him half the money upfront. I got the home and they finished the pool. Nobody ever contacted me about seeing if it was completed or not. Well they fixed the pool and the pool guy told me once I had it filled all the way up with water to call him and he or someone that works for him would come check and make sure everything is good. I filled the pool up and started calling him and he never would call me back or anything well 2 weeks go by and I've lost a 2 feet of water in my pool and I thought it was leak somewhere started contacting my realtor when I had waited long enough for him to answer. My realtor contacted the sellers and they both tried getting up with the pool guy and never could.. sell a month and half later of this going on I hire my own pool company to come inspect the pool and see what's wrong with it and they found out that the pool liner had been incorrectly installed by them and was leaking at the main drain and they were pretty firm with me in saying whoever put the liner in knew they messed it up when they did it and that's why I never heard nothing back from them ...2 different opinions on this both matching what they said and 2 different quotes.. is the seller still responsible for having the pool fixed since they hired the guy to do it and he didn't fix it right and they agreed to have it fixed and payed him?????

    submitted by /u/johnforddd
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    Square footage...

    Posted: 10 Jul 2019 06:29 PM PDT

    I'm trying to figure out my house square footage.

    Zillow says it's like 1600, but Zillow also says it's 3 bedroom and it's definitely 4 bedroom. Zillow seems to have made this mistake for all the houses in my neighborhood with our floorplan.

    I'm not seeing square footage on any of our tax documents or house title. I feel like the house is at least 1800.

    I measured the insides of all the rooms, minus the closests and it's like 1300. I measured including the inside walls and closets and its more like 2000. I haven't measured from the outside walls but I bet that's even more.

    Searching online doesn't help because some say to include closests and thickness of walls and some don't.

    How accurate do I have to be and will I lose money selling our house if we underestimate the square footage ?

    submitted by /u/tanhan27
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    Offering 5k more than asking price!

    Posted: 10 Jul 2019 06:13 PM PDT

    Hi all! There's a competing offer on the books, so my real estate agent wants me to offer $5,000 more than asking price.

    BUT the offer already on the books is this: have the seller pay the $8k in closing costs, which will then be baked into the sticker price of the house (making it $262K instead of $255K).

    I feel that if I'm paying closing costs regularly, offering $5k more is not necessary.Thoughts?

    submitted by /u/Rational_Actor
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