Seller is having regrets and trying to get us to cancel? Real Estate |
- Seller is having regrets and trying to get us to cancel?
- Sellers not
- Impossible to finance a property under $100k?
- Tenant has over 30 cars on property.
- Federal Reserve potential rate cut?
- Beginner in Real Estate
- Am I being greedy with inspection results or is this stuff that should have been maintained on sellers part?
- Buying a vacant lot without an agent
- I'm purchasing a home; I've found several discrepancies on the paperwork. Is this a red flag?
- Realtor pushing for an offer that is not contingent
- House with steep slope down, away from the house. Good or bad? I'm gonna assume backyard will be useless
- Zillow won't remove my listing for a rental
- Property on market for 5 months then seller deleted the interior pictures and raised the price by $75k...
- Anyone work in management for coops or condos? New York
- When can I fire my realtor?
- What kind of mess am I in and what options do I have to get out?
- What would you think is a fair offer on a home with this listing history? Keep in mind the house was lowered again to $999K last week also
- What is a good ROI
- How much does tenant turnover usually cost you?
- Tax default auctions, any catch?
- WWYD?
- Help! In home 7 months, 30k in debt and Septic Tank needs pretty much full repair. Options?
- Realtor isn't responding to low appraisal
- Florida, U.S. Rental Lease Priority Question: Lease Start date vs HOA Approval
- Seller providing offer FIRST to buyer
| Seller is having regrets and trying to get us to cancel? Posted: 30 Jul 2019 09:59 PM PDT Hi, everyone. First time homebuyer, here! My husband and I live in California and are in escrow for our first home. We were fortunate to view the house within its first few days on the market, as it was getting lots of attention due to being in really great condition with several upgrades. We ended up writing a letter to the seller explaining why we really loved and wanted her home, and got the home exactly at listing price. The seller clearly took pride in her home and claimed to be very pleased we were getting it. Almost three weeks into our 45 day closing, we have already been conditionally approved for our loan and are just awaiting HOA documents to obtain a homeowners insurance quote. After that, we will be Clear to Close. The appraised value matches the listing price and we just had our inspection last week. Nothing major was uncovered during the inspection that would be a dealbreaker, but there were a few potentially costly repairs (such as a roof tuneup and some plumbing repairs) that we wanted to request from the seller. In California, we learned the seller by no means has to say yes to repair requests but we wanted to try to at least get a credit at closing. We knew in a worst case scenario, she would say no and we would have to be okay with that because this house is a great fit for us. The seller sat on our repair request for days. Finally, we received forms back from her agent declining every request we made. Again, we knew this could happen, but our agent called the seller's agent to try to negotiate. Evidently, the seller has changed her mind regarding the price she sold the home at and has decided that she won't be negotiating anything anymore. Rumor has it that people in the seller's life have been insisting she listed too low and now the seller is having regrets and is seeing if she can push us to cancel the contract. Our good faith money is in the escrow account, our contract is ironclad with all appropriate signatures, and we have met every single deadline for removing all contingencies thus far. My questions is this - can the seller truly back out of the contract at this point? Do you think she will try to somehow sabotage the deal so that she can back out of it? I guess I don't understand because the neighborhood comps matched the price of the home, so even if she had listed higher I feel like she would have ended up needing to do a price reduction if it appraised lower. Thanks for any and all insight! As a first time homebuyer, this whole process has been overwhelming to say the least. [link] [comments]  |
| Posted: 30 Jul 2019 07:38 PM PDT I am supposed to close on a house tomorrow. As part of the contract, the seller agreed to "replace the dishwasher" after we asked them to repair it. At the final inspection today, the dishwasher has been replaced with one that is significantly older, rustier, and just all around shittier than what was there before (also a different brand if that matters). I am pissed, but the seller is adamant that because the repair list did not specifically say "replace with new dishwasher' they are off the hook. What are my options as far as this goes? It seems silly to lose a house over a dishwasher, but with that and various other shady repairs, I don't want to give these people a single cent. Is there a way to force their hand on this? If I refuse to sign at closing will I get earnest money back because we can not come to an agreement on their repairs? This is in NV. [link] [comments]  |
| Impossible to finance a property under $100k? Posted: 30 Jul 2019 09:34 AM PDT I've been looking at a few properties in the $70-$100k range, but apparently, according to a lender I talked to, traditional mortgage lenders can't lend on these due to laws about the ratio of loan origination fees to the loan amount. Has anyone dealt with this before? Is there a way around it, or am I stuck paying all cash if I want these properties? If you've worked with a lender on something like this I'd love a recommendation. EDIT: Wow, thanks everyone, I guess this lender must just have higher origination fees than most. I'll talk to more lenders. [link] [comments]  |
| Tenant has over 30 cars on property. Posted: 30 Jul 2019 06:28 PM PDT One of my property's is in a small rural area in WA. My lot has a trailer which I rent out to a couple and a fence down the middle of he lot to have an RV hook up. The tenant in the RV mentioned that he was looking for a place with a big garage (both rentals have large garages) and that he has retired from his car bodywork/ mechanic shop and was looking for a place to be able to bring some of his fixer uppers and work on. Before he moved in he asked that he could have a couple cars to work on, we talked about how many and I believe we said 10. I just found out that he has over 30 cars on the property and now my property manager wants to raise the rent but $600. My concern is the possible damage it could do to the yard or what it would cost if he ever just decides to pack up and leave without taking them with him . I haven't heard anything negative from the neighbors (my other tenant and someone who loves behind the lot). They told me he has a lot of cars but he seems like a friendly guy when I spoke with them on the phone before. Up until the lease renewal I wouldn't have known he has had so many. What are your thoughts on this? Any suggestions or concerns I should should bring up to my property manager? I don't live in the state anymore so I can't go see for myself and just have photos. [link] [comments]  |
| Federal Reserve potential rate cut? Posted: 31 Jul 2019 01:04 AM PDT If the fed do decide to cut rates this week, will this have any effect on the residential housing industrial national, on average. [link] [comments]  |
| Posted: 30 Jul 2019 07:36 PM PDT Hi there, I am writing because I am a beginner in Real Estate and I'd like to get some advice on how and where I should start. A bit about myself, I live in Toronto and work full time in a Big 4. I haven't saved that much at the moment but I want to start hunting some deals to get the pulse of the market here in Toronto and the suburbs. I'd have some questions to start:
— Grant Cardone (US) — Kris Krohn (US) — Matt McKeever (Canada) — Graham Stephan (US) — QLRR (Fr) — Theo Elliet (FR)
Thanks in advance for your response to my "basic" questions. Some guidelines on where and how to start from investors are always welcome. Cheers! [link] [comments]  |
| Posted: 31 Jul 2019 04:31 AM PDT So we got a lengthy list of things wrong with a house we're under contract in. I am worried I am being over the top asking for repairs but I also think these things should have been taken care of while the sellers have lived here. 1)The emergency drain pain has a crack and has actually rusted through so a new drain pain is needed. The starter on one of the three hvac systems needs replacing as its dead and running on the backup. There's also some wiring that's bad. That'll al cost $3500. 2) there's free water in the crawl space of unknown origin. 3) there are 3 large 2 story windows where the thermal seal is broken and the windows are cloudy another $3k. There's also cracked siding/actively leaking sink (when it's on) among other things. Is asking for repairs for those 3 major things asking too much? I would want an allowance so I could hire contractors after closing. I just don't want to be a jerk buyer but this house is 510k and we are paying top dollar for what it's actually worth. Tia [link] [comments]  |
| Buying a vacant lot without an agent Posted: 31 Jul 2019 03:47 AM PDT My wife and I are looking to buy a vacant lot in a developing part of our county to sit on and build when I retire from the military in 6 years. We've identified a lot as part of a 20 home settlement and had initial discussions with the developer. The developer is not a full time developer and lived on the land for years before deciding to develop it. We have not discussed official prices, but the asking cost is reasonable and she has indicated that she would accept any reasonable offer. I'm not currently represented by a realtor and to my knowledge she is not either. I have a few questions that I would be appreciative if the community can help me answer: 1) Is there any reason to get a realtor? 2) If I forgo the realtor should I get a real estate attorney? Or just contact a title company? 3) In a normal transaction (ie, buying a house) the seller pays the buyer's agent 3%. Is it reasonable to ask the seller of this land to pay for my real-estate attorney fees? Is is reasonable to ask her to pay some portion of the 3% to me as a discount off the negotiated price? 4) Is there any special consideration I need to plan for? I'm already planning to have the land surveyed for boundaries and flood elevation/insurance reasons. Mineral rights are stipulated. There are 13/20 lots purchased already and 6/20 are already built on. To me this indicates clear titles and appraised values - but I'm interested if others see risk. Thanks in advance! [link] [comments]  |
| I'm purchasing a home; I've found several discrepancies on the paperwork. Is this a red flag? Posted: 30 Jul 2019 09:17 PM PDT Forgot to add in the title that this is Illinois. TLDR: My husband and I are buying a home and found some discrepancies in two different copies of the MLS listing, the contracts signed by the seller and us, and discrepancies between the county assessors information on the house and what is on the MLS listing. Is this a thing that happens or should we be getting nervous? The full details: Over the weekend, my husband and I signed a contract to purchase a home. The document is called "Multi-board residential real estate contract 7.0" Lines 31 & 32 say, "seller warrants to buyer that all fixtures, systems, and personal property included in this contract shall be in operating condition at possession except:" then there is a blank line. Monday, when getting a copy of that same contract the sellers signed, the blank line had "sprinkler system conveyed as-is". We emailed our real estate agent to ask about the discrepancy. Her reply was, "It's in the broker's private remarks." and attached a copy of the MLS listing. I checked the copy that she gave us on Sunday; it did not have that discloser. Our copy had several lines missing despite the fact that it says "page 1 of 1" at the bottom. I also checked the discloser statements that she sent us and it wasn't mentioned in that either. So we emailed her back with a photo of what she gave us and asked about the discrepancy. Radio silence since about 1pm Monday; it's Tuesday night now. My husband wanted to get more info on what the taxes would be, so he looked up the house on the counties website. It listed the square footage of the house as about 300 sq ft less than the MLS statement. It also indicated an unfinished basement despite about 3/4 of the basement being finished with drywall, carpets, and a built in bookcase. So now we're getting a bit nervous about what else we might find, especially as our agent hasn't responded. We've been working with her for a few weeks and this is the first time she hasn't replied in less that 20 minutes. We have been asking about the discrepancies via email so we have a written record of our conversation. Our earnest money is due Wednesday and we have a home inspection scheduled for Friday. We are set to close on September 6. We planned to use the home inspector and real estate attorney she recommended, but now we're feeling less confident about that decision. So, does this seem like a big red flag or are these normal hiccups for a real estate deal? If this is a red flag, what type of next step should we take? Thank you for taking the time to read this and for any advice or insight you might have. [link] [comments]  |
| Realtor pushing for an offer that is not contingent Posted: 30 Jul 2019 04:11 PM PDT To an extreme. Property in question is current on the market for $440,000. It had a $10,000 a price cut about a week ago. Open house Sunday. No other offers to date, but reportedly showings coming up still. We put in an offer at $430k, contingent on selling our condo after much debate with the realtor. Realtor does not think that the seller will accept our offer due to the contingency issue. Our place is not currently on the market. Any thoughts on this? I dont want to put my place up without an accepted offer as I need a place to live... And I dont want to put it up and then have to buy a house within a specific time frame (looking in only 1 relatively small town and have no reason to move ASAP). [link] [comments]  |
| Posted: 31 Jul 2019 02:14 AM PDT |
| Zillow won't remove my listing for a rental Posted: 30 Jul 2019 02:15 PM PDT I feel bad since people are still applying and paying money for the credit to be ran. Folks to drive by our house just to see it even though we have "removed the listing" I tried deleting the pictures and they still show up. I believe it is intentional on zillow's part to get more revenue and eyeballs. Has this happened to anyone else? How can I stop this? [link] [comments]  |
| Posted: 30 Jul 2019 01:56 PM PDT https://www.zillow.com/homedetails/2536-Louisiana-Ave-New-Orleans-LA-70115/73836452_zpid/ So, I was planning on looking at this property back when it was $228k and was going to put in an offer of like $190k if it was in decent condition. Then all of a sudden the price was changed to $300k, with the interior pictures deleted. 3414 S. Robertson was included when it was $228k as well, so it's not like they added that property. The assessor's office has no record of a sale so I don't think it's a flip. What's going on here? Did the seller just drop their old real estate agent and get a new one that's crazy? [link] [comments]  |
| Anyone work in management for coops or condos? New York Posted: 30 Jul 2019 05:37 PM PDT I was offered to manage some coops and condos. And I havent managed these types of properties before. Not sure what specific requirements I need to do or if anyone can guide me in the right direction. [link] [comments]  |
| Posted: 30 Jul 2019 09:11 PM PDT Might be a common answer. We have a listing/exclusive right to sell agreement in Texas. House was listed 4 days ago We have multiple offers. She has fallen off. She wants to rush rush rush for us to accept something but I can't even get her to send me disclosures anymore on houses we like in a timely manner. Before we listed she had them over to me immediately. We're not in a hurry to sell and I feel like if I can't get her to help me find a house then why am I going to accept an offer that she's rushing? Can I fire her? Should I just drag every offer out? Are we pretty much stuck with her once we accept an offer? [link] [comments]  |
| What kind of mess am I in and what options do I have to get out? Posted: 30 Jul 2019 02:41 PM PDT Current Ex (41F) and myself (42M) purchased a house in 2004. Title and mortgage were under both our names then (we were never married). Several years later, Ex had to file bankruptcy for some really bad financial decisions made by the both of us. We survived that and were doing OK financially until I lost my job in 2011 and had to use up all of my savings/retirement to make ends meet before finding another job, which took about 2 months. I was barely making enough to make ends meet, but was the best I could do, considering the circumstances. It was a contract job in the IT industry. Due to this setback, as well as some unexpected medical expenses, I ended up having to file for bankruptcy in 2013. Our main objective was to keep the house (we had had 2 kids at this point). I had come out of the bankruptcy in 2018 and was able to refinance, without taking any of the equity from the house. This is where I need some advice. Ex and I had been having issues with our relationship that took a turn for the worse in 2018. It was mutually agreed that we would separate, she would take the downstairs den, while I kept the master br. We would figure out what to do with the house later. I was already in the process of getting the loan refinanced, and she didn't want to be on the mortgage. She still wanted to stay on the title. Fast forward to present. I am the one currently paying for the mortgage, and have been since I refinanced. Ex says she doesn't have enough salary to either pay me, or contribute to the house payment or bills. I thought she had learned her lesson from her bankruptcy, about only spending what you make and not living off of credit, but she ended up raking in about 20k worth of credit card/secured debt. This is why she is having issues paying me. This is why we had issues with money while we were together. Can I sell this house? If so, what am I obliged to share with her? [link] [comments]  |
| Posted: 30 Jul 2019 07:13 PM PDT Hard to not feel like the seller is on tilt here [link] [comments]  |
| Posted: 30 Jul 2019 10:24 PM PDT |
| How much does tenant turnover usually cost you? Posted: 30 Jul 2019 03:45 PM PDT Assuming no major repairs or upgrades are needed, what are your usual expenses of having to replace a tenant? [link] [comments]  |
| Tax default auctions, any catch? Posted: 30 Jul 2019 09:16 PM PDT Hello, I'm investigating if I want to invest in properties through auctions of tax defaulted properties. There seem to be quite some good bargains of terrains/properties for just a few hundreds dollars sometimes. It almost seems too good to be true. Is there any catch? I took a look at a bunch of properties the auction of which was expiring. I looked at the parcel information on the county website and the properties so far seemed in order for those auctions (a few hundred dollars back taxes due, but no big deal) What does someone that would like to take a shot at this should look for? Thanks! [link] [comments]  |
| Posted: 30 Jul 2019 08:15 PM PDT We're FTHB scratching our heads at the current predicament. We are under contract to purchase a home. We were originally due to close tomorrow, the 31st. After county inspection, we learned the seller's finished the basement without permits. Closing has been pushed to September, to all our dismay. This was to allow them to get it up to par with the county. The County, being a dick IMO, is requiring them to remove every nut and bolt and basically gut the basement. We signed an addendum where they would redo the basement to the exact specs from when we signed the first contract, but with a permit. After agreeing to this and signing, the sellers now want to default. We don't know why. What are our options here? Our agent is countering, asking them to just gut the basement and put the cost to finish the basement in escrow after obtaining a quote. We could walk. But with school starting and our current loan expiring (is that the right word?) in Oct, on top of generally liking the home....we just don't want to. The basement was a large part of why we purchased it due to the size of our family. We cannot foot the bill to redo the basement ourselves and would prefer to not take a loan to do so, either. Thoughts? Advice? Positive juju? Much appreciated. [link] [comments]  |
| Help! In home 7 months, 30k in debt and Septic Tank needs pretty much full repair. Options? Posted: 30 Jul 2019 04:11 PM PDT We bought our home in December. We have had plumbing issues since we moved in. The man we bought the house from owns a company where he buys houses, and essentially flips them and sells them, he also acts as the agent. Every time we called him, because we were told that we had a one year home warranty, he would send one of his guys. So far they have ground tree roots from the pipes through the toilet and replaced the piping from the bathroom to the septic tank. When they replaced the pipes they had to drain our septic tank as it was full. That was last month. Well, over the weekend the toilet backed up again and my fiancé had to hand pump it out from the vent pipe? in the ground so we could flush the toilet. Yesterday a plumber came out and had to pump the septic tank again(remember after just one month) and told us our field lines were likely clogged and our septic tank needed to be replaced. The house was built in 1956 and we believe it's the original septic tank. We did not know that. The estimate started at 5k. We do not have the money. We aren't in a financial position to take a loan out with the bank. We were extremely naive, this was the first time we had ever purchased a house and had nothing in writing about the warranty. Yesterday I was told I had no legal leg to stand on. Can we sell? Can we sue? With all of the fees included in selling a home, from what I see, we would have to ask around 16k more than what we bought the house for to walk away clean. Will my fiancé's credit be completely shot trying to sell after only 7 months? Please and thank you for any help! It's much needed because we are panicked! [link] [comments]  |
| Realtor isn't responding to low appraisal Posted: 30 Jul 2019 04:08 PM PDT I am buying a home. The appraisal came in $10,000 less then asking price. I challenged the appraisal, and got the same amount. I asked the seller to come down to appraisal price. It's been 5 days with no response. Can I legally ask for my earnest money back now so I can pursue another property? I have asked my realtor this as well, but she hasn't responded to me in the past 3 days. How do I ask for my earnest money back? I will request to terminate my agreement with my realtor as she has had communication issues from the get go. [link] [comments]  |
| Florida, U.S. Rental Lease Priority Question: Lease Start date vs HOA Approval Posted: 30 Jul 2019 06:17 PM PDT Hello! I am moving out of state and renting a town home from an owner through a real estate agent. I signed a lease last week that stated my lease begins August 1st. I have begun my drive to the new location only to be notified that the HOA approval process can take up 30 days and that my key may not be available to me on August 1st now. The lease is "contingent upon HOA approval" and that is about the only part that seems to apply to my situation. The real estate company has First and Last month's rent plus a security deposit equal to one month's rent. There doesn't seem to be any clear rhetoric explaining when the lease becomes active and when my funds are no longer refundable. The HOA is poor with communication, my realtor only tells me things when I put pressure on her, and I have heard nothing from the realtor who the property is under and the real estate company that is holding onto my funds, assuming they are not dispersed yet. Here are my questions: My fear is my first month of the lease will start on the start date, and I will pay for a month of being in the town home and not actually be able to be in it. I am also trying to figure out if it is active and the early termination clause applies now or if it is inactive and this is just going to be a brute force fight with the realtor to get out of this.
I don't want to be a dick, this is basically a case of tons of miscommunication and mismanagement at my financial expense. I'd like to be diplomatic if I can be. Otherwise...
I have this feeling that even though there are now 6 entities involved in this process, I am the only one batting for me. Best case scenario, I get all my funds back or only lose the security deposit, and cut ties with this much and just rent from a property management company. Worst case scenario, I lose all of my funds to break ties or I am stuck in a hotel for up to 30 days at my own expense. [link] [comments]  |
| Seller providing offer FIRST to buyer Posted: 30 Jul 2019 10:15 AM PDT Hello, I am currently selling my home and we had someone come in who was very interested in our home. Our agent spoke to his agent and was told he was interested, but had some lending issues. Our agent suggested that we give an offer to the interested buyer first. We offered the interested buyer $5k less than listing price and $1k in closing costs. This buyer did not respond. Fast forward 1 week. Next, we had another buyer who was very interested. They LOVED our home, but the only con was that there was no in-unit laundry (we live in a condo where there is coin laundry in the basement). My wife is suggesting us to do the same thing we did with the first buyer, we be the first one who offer the interested buyer. Same thing, $5k less listing and $1k in closing cost. This time, I do not want to do it. My wife thinks it's to be "aggressive" and if she was in their shoes, she would accept (this reasoning does not make sense to me). I on the other hand feels like this shows more "desperation" than aggressive. We are the sellers, they are the buyers. I just feel weird that we would be the one putting an offer first. If they really wanted "LOVED" our house, they would have given an offer no matter what with the consideration about the no unit laundry. Are we going to start being the first one to offer everytime an interested buyer walks in the door? It seems all backwards. How common is it that sellers are the ones providing offers to the buyer's side first? Thank you. [link] [comments]  |
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