Buying a Zillow-Owned Home Real Estate |
- Buying a Zillow-Owned Home
- Would someone be willing to do an Explain Like I'm 5 on a land purchase?
- [Article] Discount real estate broker Purplebricks Exits U.S. After Shares Plummet 75% in Two Years
- What would you pick? [CA]
- Tips for first time home buyer?
- Made an offer on a house in California, the seller made a counter offer freaked out my realtor, should I be freaked out too, or will everything I should know appear in the title report?
- How much house can I afford?
- What should I know before I offer below list price?
- First-time buyer confusion: approved for way more than I can afford
- What's the process when trying to buy a house that's chapter 7 bankruptcy.
- Converting Primary Residence to Rental
- Power of attorney when selling a property
- How much house can/should we realistically buy?
- Multiple condo units for sale at once - strategies to sell mine?
- Feeling anxiety leading up to a purchase (coop)
- Is going to college for buying buildings worth it?
- How much does it cost to get your real estate license?
- [TX-VA Loan] How would i get my earnest money back if there were not realtors involved?
- Agents get discounts?
- Home value estimate accuracy: Zillow vs Redfin vs... ?
- Need help deciding whether to stick with my rates or shop around for lenders? - stressed 1st time homebuyer
- Interested in getting into residential real estate rentals. Advice?
- Loan subordination
- Leaserunner reviews
- When is the best time to start looking
| Posted: 06 Jul 2019 06:19 PM PDT Has anyone ever purchased a home owned by Zillow? I'm about to put an offer on one and I'm just curious as to how others' experiences have been working with them. [link] [comments]  |
| Would someone be willing to do an Explain Like I'm 5 on a land purchase? Posted: 06 Jul 2019 08:16 AM PDT First, awesome sub with tons of valuable information I have already searched for and absorbed. Thank you! I was hoping someone could walk me through my first land purchase, from due diligence, to how and when to pay the seller, and everything else that goes into the deal. This will (hopefully) be my first land purchase coming up and I just want to make sure I do everything possible to ensure the safety and legitimacy of the deal. I know this is a lot to ask and will completely understand if I receive no responses and my post is downvoted. I appreciate you taking the time to read and consider my request. Thank you! Edit: Sorry, let me include: Septic and water on site, perc up to date, cash deal with owner, no flood zone, plan on building approximately 2 years from now, any builder is okay. [link] [comments]  |
| [Article] Discount real estate broker Purplebricks Exits U.S. After Shares Plummet 75% in Two Years Posted: 06 Jul 2019 12:03 PM PDT Discount real estate broker "Purplebricks" has withdrawn from the U.S. after losses nearly doubled this year and their stock price fell 75%. They entered the U.S. housing market in 2017. [link] [comments]  |
| Posted: 06 Jul 2019 08:48 PM PDT 2 bedroom 1 bath 775 sq. ft. =$1465 does not include water/sewage/garbage $600 deposit 2 bedroom 2 bath 890 sq. ft. =$1405 includes water/sewage/garbage $500-$750 deposit Will the electric bill vary greatly with the difference in square footage? First-time renters so we have no clue about this stuff. Help please! [link] [comments]  |
| Tips for first time home buyer? Posted: 06 Jul 2019 08:26 PM PDT |
| Posted: 06 Jul 2019 09:32 PM PDT Blank cooperation has this property under contract with the Current Owner, and will be assigning the contract to the Buyer. 2. Tenant has signed an estoppel agreeing to vacate the property by July 15th, 2019. If tenant has NOT vacated by that date, Buyer may need to evict. Buyer is responsible for all costs/legal matters with Current Owner & occupants. 3. Escrow and Title to be with Blank services.
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| Posted: 06 Jul 2019 03:26 PM PDT I am single and make roughly 47k a year. I have excellent credit, no debt, and 15k in savings. [link] [comments]  |
| What should I know before I offer below list price? Posted: 06 Jul 2019 11:15 PM PDT Hello! Apologies if I'm coming by with a dumb question. I'm looking at my first home and don't want to make any amateur moves. The house I really like has currently been on the market for pretty much exactly 5 months. Initially it was listed at somewhat of an outrageous price (400k) for what it is and where it is in the city. It checks off a lot of boxes for me as the renovations to it seem to be pretty well done, it's in an area of town that is on the up and up, but by and large still not in the greatest part of the city, and is on about an acre. However, by and large its current listing price (333k) is not what I believe the actual value of the house is based on what I've seen other houses in the area go for with similar parcel sizes and square footage. The situation seems to be pretty good for buyers in this area as there are lots of houses being flipped and with the exception of the ones which are sub 200k, most houses seem to be averaging 30+ days before selling, if they do at all because as I mention though there is a lot of home flipping, lots of these renovations are really, really bad Based on some of the other houses I've seen sell within a mile radius in the last 6 months - year, the true value is probably closer to 300k if not below. In theory I can definitely afford the house at 333k but obviously i don't want to pay more than is necessary especially given that the property needs some arbor work (at least 2 trees honestly need to go ASAP as when i went and looked at the house they are kind of perilously close and if they fell the wrong way could possibly clip part of the roof) and there is a mysterious cistern looking hole (thing is like 4 feet wide by 15-20 feet deep in a near perfectly circular hole, don't think it's a sink hole by any means but i have no experience with cisterns) up by the front but from when I asked the current owner via the realtor they said it wasn't actually on the property. However, I haven't seen a survey so who knows. The hole itself would honestly be too dangerous to leave open like it is without a grate or something. The property has some 'interesting' drainage going on at the bottom of it that I believe runs into the sewer but at the moment it's an unknown that I assume will cost money Basically, what happens if I offer 300k, or less even maybe 290k as it's getting closer to fall and it's my understanding housing sales spike in the summer and kind of go back down as it gets closer to winter, and they decide no on the offer? From the perspective of a seller (and it seems to be investor owned), would that be likely to preclude me from any kind of counter offer I could make? I don't want to be some idiot who tries to come in with some low ball offer and then butcher an opportunity but on the other hand I just don't have any experience with home buying and I don't really have any personal contacts I can field these kinds of questions to [link] [comments]  |
| First-time buyer confusion: approved for way more than I can afford Posted: 06 Jul 2019 11:09 PM PDT First time home buyer here, hoping to clear up some confusion. Have been renting all my life prior to this, but my rent is getting out of hand (~68% increase in ~6.5 years). For about a month now I've been seriously considering buying instead of renewing my lease come September. For one of my first steps, I reached out to my credit union to get pre-approved for a mortgage. For background, I'm 30, single, and make around 150k/yr. I have no car payments or debt of any kind. In the part of SoCal where I'm shopping, homes start around $400k for a fixer-upper with serious work needed, $500-600k generally gets you a house with some flaws in a nice area or a nice house in a not-so-nice area. And at $600-700k you start to see properties with no major drawbacks. I was put in touch with a loan officer at my credit union and provided $600k as my likely purchase price and $50k as my desired down payment (loan amount of 550k). However, the following week I was surprised to receive a pre-approval letter for a $900k loan. My credit union also does not require PMI with down payments below 20%. I've done the math and know I can't live comfortably while paying back anywhere near that much. It seems like this is way outside of the 28/36 rule and I've seen people on here get told they categorically can't get a loan for a $300k property with a $60k/year income stream. So what gives? Is my lender not concerned that I won't be able to make monthly payments that are well over half of my take-home pay? I am still aiming for something around the 550-650k mark, and even that feels like a stretch once I add on the taxes, utilities, insurance, and (possibly) HOA. It's nearly impossible for me to stick to the 2-3x annual salary rule here, however, so I'm also curious if anyone has any recommendations on a reasonable goal for housing costs relative to pay in an "expensive" housing area like California. Of course I plan to shop other lenders once I am actually ready to buy and there's no telling what they'll approve me for, but at this stage any advice would be appreciated based on the info I have on hand. [link] [comments]  |
| What's the process when trying to buy a house that's chapter 7 bankruptcy. Posted: 06 Jul 2019 02:48 PM PDT I'm looking to make a offer on a house I seen on foreclosure is the process difficult.It says that it's in review. I'm interested in it as a rental property [link] [comments]  |
| Converting Primary Residence to Rental Posted: 06 Jul 2019 04:45 PM PDT Wife and l have found a new property that we want to purchase and move into as our primary residence. Our current home needs minor repairs to make it move in ready. We would prefer to pull out some of our equity to use for carpet paint and other minor repairs. Additional we would like to roll some of the equity in the new property. Does anyone have any pointers or insight on this type of transaction? Goal is to convert the current home to a rental and use equity to help with financing the new home if this reasonable. [link] [comments]  |
| Power of attorney when selling a property Posted: 06 Jul 2019 08:24 PM PDT My uncle had invested in a real estate property a little while back in our town, and rented it out to my family. He owns 80% of the property and we own 20%. He wants to now sell the home, but he wants us to sign a power of attorney to him so that he can make all the decisions. I didn't think this was required since he owns majority of the property, so I would assume he has the power to make all the decisions. Does he actually need a POA to sell the home when he owns majority? [link] [comments]  |
| How much house can/should we realistically buy? Posted: 06 Jul 2019 07:22 PM PDT $145k combined income, 2 car payments of $350 and $300 per month. $50k in student loans(no payments yet, working on masters) $1,550 is our current rent. We are in southern Oregon looking at $300k-$400k Thanks [link] [comments]  |
| Multiple condo units for sale at once - strategies to sell mine? Posted: 06 Jul 2019 07:38 AM PDT There are 6 duplexes/zero-lot-line townhome buildings in my neighborhood, for a total of 12 properties. They are all identical, except for whatever upgrades each owner did. I plan to list my property in about a month, but have recently learned that there are at least 4 owners who plan to also list their properties at that same time. (The full details of why we are all waiting to sell are below, should you wish to know, but it isn't particularly relevant). The market is currently a sellers market but seems to be cooling off a bit. The majority of homes currently on the market are well above the price range there duplexes would likely list for. I do not have to sell/move, but would strongly prefer to have the property sold before November 1st. I am looking for insight on a few things:
I have asked my realtor, but I think her advice is clouded by the fact that she really wants to sell the ASAP, as there are so few listings on the market right now. She says sell for the same price as we have been planning and at the same time. Full details: The homes were originally zoned as condos, but the HOA lapsed some time ago and there hasn't been an active board for several years. Because of this, some banks refused to offer mortgages, so people have had trouble selling the properties for a fair market price. We can't list our homes for sale until the paperwork to rezone is complete, and the rezoning should allow the properties for fetch a much better price because people will be able to get mortgages for them. [link] [comments]  |
| Feeling anxiety leading up to a purchase (coop) Posted: 06 Jul 2019 10:45 AM PDT I'm in the process of buying a coop. My offer was accepted for what I feel like is a fair price. The unit is fine, nothing special. Its 2 min from work. I will be approved by the board without any issue. The monthly payment (15 year loan) even including the maintenance is less than my rent. My friend likes the complex and has been there more than 2 years. I am feel anxiety in submitting the next step. My agent has been "eh" and I am afraid of what I could miss out on. Unfortunately, my dream scenario (living wise) doesn't exist within an hour of my job. This buy is a sacrifice of what I really want. I'm 31 and this my first buy. Can anyone just kinda assess this post and tell me if I'm crazy or not? I have no support system where I am. [link] [comments]  |
| Is going to college for buying buildings worth it? Posted: 06 Jul 2019 01:59 PM PDT Dumb question on purpose, tear me apart. My moms handing me property, what do? (17) [link] [comments]  |
| How much does it cost to get your real estate license? Posted: 06 Jul 2019 07:23 PM PDT |
| [TX-VA Loan] How would i get my earnest money back if there were not realtors involved? Posted: 06 Jul 2019 04:08 PM PDT We did not use realtor, appraisal came in lower than selling price and the seller had signed the va documentation supporting that I will get my earnest money back if the home was being sold above the appraisal value. I emailed the title company he is using and that had my earnest money deposited to and was told I needed to talk to a real estate attorney. Is this true? [link] [comments]  |
| Posted: 06 Jul 2019 03:14 PM PDT Hi all. Something I've wondered. Pretend I'm an RE agent. If I find a house I love, and buy it, do I get part of the commission? [link] [comments]  |
| Home value estimate accuracy: Zillow vs Redfin vs... ? Posted: 06 Jul 2019 02:01 PM PDT Edit: I just compared comps for home sales in my neighborhood within the last six months. There were 8 sales with similar ft^2 and a garage. Average price per ft^2 was $149, which would put my home's value 5% higher than Redfin's estimate and 22% higher than Zillow's estimate! I wonder what's going on with Zillow's algorithm... What in your experience is more accurate, Zillow or Redfin, or some other site? I purchased a house last year and I'm tracking its value by averaging the value estimate from half a dozen websites, including Zillow and Redfin. There's a huge difference between the two, with Zillow coming in very low and Redfin assigning a price per square foot that's average to high for my area. I got my house for well under the average, and as soon as the sale information went public, Zillow picked up on it and the Zestimate dropped to just over what I paid. It's been slowly trending up since then, but just in the past couple of weeks dropped 1% or so, and its forecast is flat over the next year for some reason. Meanwhile, Redfin's estimated value did not drop after the sale and instead continued climbing, and went up another 1% or so in the last couple of weeks. There's now a 16% difference between the two prices. So which one has been more accurate in your experience? [link] [comments]  |
| Posted: 06 Jul 2019 12:45 PM PDT Hi! (X posted in r/mortgages) First time home buyer here so I just needed some honest, unbiased advice. My husband and I just had our offer accepted on Mon. We were given a rate of 4% or 3.875% if we buy down from our current lender. Info: Northern VA (competitive market), 10% down on a upper $400s house. Credit scores are 719 and 740. Salaries pre tax are $90,000 each. We also have 6 figure student loans, each. Does this sound decent? We applied with our lender about 45 days ago so we're hesitant to apply elsewhere and have our credit pulled again. Other lenders are saying they can give us 3.6-3.8% without buy down. Is this BS or does that sound realistic? We just want to make sure we are not getting low-balled and don't want to waste time applying elsewhere if this sounds decent. TIA we really appreciate it and wasn't sure who else to ask! Edit: thank you so much everyone! This was exactly the advice we needed and help us decide. [link] [comments]  |
| Interested in getting into residential real estate rentals. Advice? Posted: 06 Jul 2019 12:20 PM PDT |
| Posted: 06 Jul 2019 12:18 PM PDT If I had a piece of land and sold it, carrying back 50% of the note, and the new owners wished that loan to subordinate to another first trust deed to build, 1. what is a safe loan to value ratio for the new loan? 2. If the owner defaults on this first trust deed, would I be required to buy it to preserve my 2nd trust deed interest or does my 2nd trust deed carry to any new owner? [link] [comments]  |
| Posted: 06 Jul 2019 12:12 PM PDT I asked someone to view the property for me, they checked out the apartment apartment it was okay but the landlord didn't show up. I got approved. Is leaserunner safe to sign a lease through and pay as a tenant? And to make sure it's not a scam? [link] [comments]  |
| When is the best time to start looking Posted: 06 Jul 2019 11:21 AM PDT Hello Everybody! My wife and I are considering moving next summer. We built our first home, and didn't really pay attention to what difference the time of year was. I'd like to you know opinion on getting the best bang for our buck. My question is when do people generally list their home if they are moving based on school year? I'm thinking properties for sale start picking up in April so people can move right when school ends to be settled in. Am I right in my assumption? [link] [comments]  |
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