Someone else is listing my property for rent, but I can’t find the listings... Real Estate |
- Someone else is listing my property for rent, but I can’t find the listings...
- Was told I could back out of purchase at any point by realtor, now I'm being told I'm stuck
- Mortgage broker spying on me?
- Is there a way to sell property in the US while being out of country?
- Real monthly numbers from a retired real estate investor
- Feeling really frustrated in a seller's market. How do I balance getting a house and not over paying?
- Is there any way to dispute the 3% commission to both seller and buyers agent?
- As a real estate agent can you waive your commission when buying for yourself?
- What are important indexes for real estate market and where do you find a reliable value for them?
- In a bidding war as a first time home buyer
- Building modular home thoughts?
- What is the difference between the MLS and sites like Zillow, Redfin, Realtor.com, etc.
- Is Getting A Real Estate Investor Worth It?
- Is buying a house in Flint MI a good investment?
- How long does it take to become a licensed agent if I studied for it full time ?
- [Boston] Suggestions/tips about buying 2nd investment property!
- Is this normal?
- Special assessment tax owed on our house but we were not notified that it existed when we purchased the house. What can we do ?
- Condo and Carpet Floors, first time home buyer advice?
- How to compensate my agent?
- Appraisal miscalculated basement sq footage, does it matter?
- Low Appraisal Negotiation for Buyer? What to do?
- Can I give my lawyer the boot?
- How to Start/negotiate seller financing?
| Someone else is listing my property for rent, but I can’t find the listings... Posted: 01 Jul 2019 09:26 AM PDT Okay so I've been receiving tons of calls over the last few days about a house I've listed on Zillow, Craigslist, etc for rent. However none of these calls are about my listing, everyone who calls says they found a listing by a guy named Lawerence, who claims the house is for rent for $1500 (I've actually listed it for $3000). One lady said she found it on Zillow, another person said they saw the listing on Craigslist, but I can't find this guys listing. I've tried looking at all rentals for $1500 (there's basically nothing in that price range) or by searching for Lawrence, but I keep coming up empty handed. I figure this is some sort of scam, where he's trying to take money from these people, but am I somehow being scammed too?? Why is he putting my number in his listing/how are these people getting my number?? Update: I've called back one of the people who called me, the number belongs to the front desk of a methadone clinic. They told me it was very unlikely anyone called me from that number. I have now updated all of my listings to say "please avoid any scams: we are local and will not ask for any deposit until applicant has viewed the property, applied, and been approved" Update 2: Finally got a hold of one of the other individuals who called me. She said she thought the listing seemed fishy since $1500 is ridiculously cheap, and contacted a realtor friend of hers, who sent her our Zillow listing. Through Zillow she got my number. She said she'll text me the scammers phone number and email. I will be reporting this to my local police's fraud department. [link] [comments]  |
| Was told I could back out of purchase at any point by realtor, now I'm being told I'm stuck Posted: 01 Jul 2019 06:32 PM PDT Hi All, First time home buyer and my realtor assured me that I could pull out of the home purchase at any point during negotiations. I had the inspection done and asked for major repairs and seller's assist based on that. The seller came back with a less than ideal offer basically offering more seller's assist in lieu of major repairs. I do not want to waste my time and counter offer again as I know we're both very far off the mark in terms of what we want. I now would not even want to accept now if they agreed to repairs because I am afraid of them cutting corners. I would rather just terminate altogether. However, my realtor is now telling me that if we terminate and they agree to my original offer in an effort to save the sale, I'm obliged to follow through unless I have a valid reason for wanting to pull out. Yes I realize these are errors on my part for not doing my due diligence and indicative of buyer's remorse , yes I'm an idiot, but I am just looking for advice on how to terminate. If I terminate at this point would there be any further consequences other than me losing my earnest money? Please let me know. Thank You [link] [comments]  |
| Posted: 01 Jul 2019 01:37 PM PDT I have two mortgages, each on a differnet condo. One I got in 2016 and one I got last year (2018). In 2016 I used my credit union, in 2018 I used a mortgage broker that my real estate agent recommended. The broker was ok, very pushy but I was under the gun and had to stick with him for timing purposes. This week I started talking to my credit union about refinancing my 2016 mortgage. I submitted the app and they pulled my credit. The mortgage broker I used in 2018 on the other loan called me and said "I noticed a hard pull on your credit, are you refinancing or something?" I was taken aback, how does he know this? I didnt talk to him at all and he doesnt work with the credit union that I am refinancing the other loan with. Does this guy just have free access to my credit report forever because he brokered one loan? How can I stop this? Edit: Sorry I didnt put location, this is in Michigan USA [link] [comments]  |
| Is there a way to sell property in the US while being out of country? Posted: 02 Jul 2019 12:38 AM PDT We moved to bay area more than 5 yrs ago, been renting ever since. I finally have enough saving to make a downpayment to a decently priced home. My worry is, if we have to move out of the country, can we sell our property in the US while being out of the country. I have read a few articles, the two ways mentioned are:
Has anyone here had to sell a property in the US while being away? Which method did you use and how painful was it? Thank you for all the comments, any info related to this is much appreciated! [link] [comments]  |
| Real monthly numbers from a retired real estate investor Posted: 01 Jul 2019 02:20 PM PDT First, I would like to thank u/TNVET for the idea of these updates. He is active in the leanfire community, and post his monthly breakdown. I thought not only would this be a great way to track my own retirement monthly, but some of you might find real life numbers from an actual retired investor interesting or helpful. Some might want to argue whether or not I am actually retired. I do no day to day work on the business. I have a property manager that handles everything, including handyman duties. I do still look for new investment opportunities, and decide on the game plan when I find one. This is the aspect of the business I find enjoyable, so don't really consider it work, but if you want to count that it will average out to maybe 5 - 10 hours each month. Okay, now for the numbers. Gross Rental income - $11,625 (no vacancies, but 3 coming up at the end of the month) Net rental income - $10,705 (this includes property manager fee and a few minor repairs...taxes will be accounted for when paid at the end of the year) No new purchases, No sales Hard money loan outstanding on a flip project in Los Angeles - $50,000 (project is complete, just waiting for it to sell) Monthly investment into Fundrise $2,000 (all returns are being reinvested) total return since opening account January 2018 is now 19.5% at end of quarter 2 2019 Monthly investment into Dividend Stock account $2000 https://m1.finance/agZC2s8I5 opened in January 2018, total Money weighted return 11.09% Monthly investment into Leveraged Stock account $2000 https://m1.finance/0QVys8PAH opened in July 2018, total money weighted return 3.97% Monthly investment into Money Market account $2000. Currently getting 2% interest. The balance will stay in the checking account to cover upcoming costs of turnover next month. Possible new investment https://www.zillow.com/homedetails/2012-Moffett-S-Joplin-MO-64804/2083775094_zpid/? I have an offer on the table for $26,000. Plan to spend about $5,000 on updating to all pex plumbing, $5000 on cosmetic updates which will include removing carpet, replace with vinyl plank flooring, strip wallpaper, texture walls and paint, replace some fixtures, replace broken windows, and a few other minor cosmetic fixes. It has a new roof as of 2017, so that won't need work, but I will need to address possible rain access through the chimney. Wiring is mostly updated, will need a few new outlets and covers. This could be turned into a duplex, but would need to add a second kitchen and decide how I want to handle the utilities. Projected monthly rent $1,000 - $1,100. This could be a good flip project, too. ARV would be in the $120,000 range. Of course this option would require more updates and upfront costs. I'll likely rent it first for a few years and then reconsider doing a final renovation for sell and cashing out depending on what the market does. Personal expenses for the month (everything except property taxes, which will be a one time expense when paid) I'm sure this is confusing for some people, but I'll explain the low numbers on personal spending. 1) I own my house outright 2) I own my cars outright and only carry liability insurance 3) I self insure for all other insurance 4) I'm just really frugal by nature which includes cooking at home, walking most places within a 3 mile radius, not going out often, etc $645 (Car insurance, gasoline for cars, cable, water, sewer, gas, electric, cell phone, food, entertainment, misc, one time shopping spree for clothes) The major one time expense for the month was my crazy trip to the mall which resulted in me taking advantage of several clearance sales. I do buy shoes every year, but I usually try to take care of my clothes so I have a minimum turnover. But I couldn't pass up on some of these deals, so ended up spending about $115 after tax. That was a pair of dress shoes ($10 on clearance $120 list), a pair of Doc Martin type boots( $20 on sale $80 list price), and a pair of extra rugged jogging shoes ($15 on clearance $90 list)...7 v neck moisture wicking t -shirts, ($2 each on clearance, $20 list price) 5 long sleeve shirts (2.99 each on clearance, $30 - $50 list), 3 pairs of jeans ( for $7.99 clearance $40 - $60 list) and two pair of sweat pants ($1.99 clearance $25 list). That is probably more clothes than I actually needed since I still have most of my old clothes, but what the hell, I was on a roll and living large. Probably won't buy any clothes/shoes the rest of the year. Grey area accounting. I am in the process of selling an old BMW. I have already purchased a truck for hauling things since I didn't already have one and I have way too many cars. When it all shakes out, I should be money ahead, so no accounting has been done on that this month. Okay, that it is. Let me know if you have any questions about any of this. I know this covers more than just real estate or personal finance, but hopefully members of multiple communities will find it useful. [link] [comments]  |
| Posted: 01 Jul 2019 09:05 PM PDT Trying to buy a house in St Louis and just lost a bid on my 4th house. Desirable houses here are barely on the market for 24hrs right now with multiple bids. I am offering 5-10% over asking with no contigencies but inspection and appraisal and still losing. The last house my realtor thought it was listed 5-10k above comparables(2-300k range) and I still went 5% over asking only to lose out again. I really loved that house but I also don't want to over pay by a crazy amount. At the same time I feel like if I don't over pay I'm never going to get a house... [link] [comments]  |
| Is there any way to dispute the 3% commission to both seller and buyers agent? Posted: 02 Jul 2019 12:23 AM PDT I have had a complicated sale on my home (it's still in progress) but my agent has done the lion's share of the work. The other agent has been unavailable, unresponsive, unprofessional (not in a rude or unethical way but in an more incompetent way). Both myself and the buyers are extremely lucky that I have such an experienced and competent agent on our side. I don't think it's fair that they both receive equal commission on this sale - in my opinion I feel like my agent has done half of the other agents work so she deserves 4.5% while the other agent deserves 1.5%. I realize even if there was a way to dispute there is probably a burden of proof to prove that there was incompetence and so forth that would be very difficult to do but I was just curious, it really irritates me to know that they will get the same check with such a disproportionate amount of work. [link] [comments]  |
| As a real estate agent can you waive your commission when buying for yourself? Posted: 01 Jul 2019 08:16 PM PDT My wife is a licensed real estate agent but is relatively new at it, so she's not sure about the answer to this question. We are currently looking to buy a lot to build a house on (in Illinois if that matters), and found one that we like. We have submitted the first offer and are currently in the process of negotiating with the owner/owner's agent. My wife made it clear that she is a licensed agent and that she is representing herself in this case, and the opposing agent suggested that she simply waive her commission instead of raising the price of our next offer. This sounds appealing to me since we wouldn't have any income from commission that we would have to pay taxes on. It also makes intuitive sense since the money that is being paid out is coming out of our pockets to begin with. Is this a common practice, or more importantly is this allowed for real estate agents buying their own homes? [link] [comments]  |
| What are important indexes for real estate market and where do you find a reliable value for them? Posted: 01 Jul 2019 07:46 PM PDT |
| In a bidding war as a first time home buyer Posted: 01 Jul 2019 07:29 PM PDT Been house hunting with my fiancé for a year now (our of state slowly but surely, it's been casual until last month we started seriously looking at homes and are applying for mortgage tomorrow). Found the perfect house. Valued at 375k, listed for 335k. It was listed yesterday and has two other offers. We're driving tomorrow night to try an out bid. They decide Wednesday at 5pm. We were planning on going Wed-Sun anyway to close on the best house we found, then this one was just perfect. I know the other offers are confidential. So I have no idea how much to attempt to outbid them by. Is there any formula, recommendations or advice for this situation? Our budget is $350 so I was planning on offering that. Also considering an escalation clause up to 350. Side facts I'm not even sure are relevant: - Income 172k - $20k downpayment - combined bills under 2k per month - zero cc debt but I have a short term loan of 350 per month - fiancé owns his house but it's going on the market this month I'm SO NERVOUS. Huge control freak and the uncertainty is killing me. I'm telling myself we will lose the bidding war so I'm not disappointed. But I must hear others advice - any hope here? Any suggestions? Is there anything I can do to come out on top? Ty! [link] [comments]  |
| Building modular home thoughts? Posted: 01 Jul 2019 09:48 AM PDT I've been looking at homes as a first time home buyer and been fairly underwhelmed by what I'm finding on the market. A realtor friend suggested looking at construction of a modular home if we can find a piece of land we like for a price we're comfortable with. From my research it sounds like modular homes are fairly high quality and the construction traditionally stays within budget or very close to estimated costs. Does anyone have experience with building a modular home? What was your experience and would you suggest it? What unforeseen costs sprung up (excluding land prep, foundation, gas/electrical/water lines, etc)? It's seeming like all else equal I could probably build new for a price relatively similar to what I'm finding existing houses listed at...sounds too good to be true. I'm exploring all options as this is the biggest financial decision I'll have made make so far in my life. Thanks in advance! [link] [comments]  |
| What is the difference between the MLS and sites like Zillow, Redfin, Realtor.com, etc. Posted: 01 Jul 2019 11:43 AM PDT I just spoke with an agent about finding properties to invest in. His response was mostly "you probably can see everything online with sites like Zillow" I thought all these sites source the MLS anyway, so what is the value of info directly through a Realtor or direct MLS access? [link] [comments]  |
| Is Getting A Real Estate Investor Worth It? Posted: 01 Jul 2019 06:12 PM PDT Hi! I'm kind of new to real estate investing so I apologize if I don't really know what I'm talking about but I'm looking to purchase my first property. I have about 10k saved up, but I want to purchase a property for around $60k, so I would have to put a little over 10k down and then I'll renovate it and begin to rent it out, so I'll need probably another 10k for renovations depending on the property (the property would need basic renovations like flooring and paint, nothing major like the roof or structurally). My question is, is it worth it to try to find an investor? I have a lot of connections who would most likely sit down and have a conversation with me, but I don't want to bring them on or waste their time if it's not necessarily worth it for myself or them. Obviously before I talked to someone I would get prequalified and get everything sorted out with prospect properties to show them and have a pitch. Another question is, if it is worth it, do I give them their equity share in the property or do I give them equity share in all properties that I begin to buy with the money from that single property. I plan on renovating and then getting it reappraised to see if I can get enough equity back to be able to purchase another property with it, but I'm still not too sure on how this works, so I need to do more research into this. Any links to online articles or videos or advice would be wildly appreciated! Thanks! [link] [comments]  |
| Is buying a house in Flint MI a good investment? Posted: 01 Jul 2019 09:42 PM PDT The houses are very cheap there, and the city problems of the city seem to get fixed. [link] [comments]  |
| How long does it take to become a licensed agent if I studied for it full time ? Posted: 01 Jul 2019 08:31 PM PDT Along with the course, what other areas should I do some studies in ? [link] [comments]  |
| [Boston] Suggestions/tips about buying 2nd investment property! Posted: 01 Jul 2019 08:10 PM PDT Advice and suggestions welcomed! So a lil backstory I co-own a 3 family property in Boston with my sister that I currently reside in and rent the other 2 floors. My sister lives in NC. I have an investment property in Providence that I acquired on my own. Since mortgage rates are on the decline I would like to see if I can possibly buy another. My income is around 63k a year, both houses pay for themselves. My mortgage on the 3 family is $2145 and the 2 family is $1124. Should I refinance and take out some equity, what do you guys think? I do have some savings that I can use towards down-payment if need be How did you go from your 1st investment property to buying more? [link] [comments]  |
| Posted: 01 Jul 2019 07:49 PM PDT I'm selling my condo in a complex and had a deal to use the same realtor to sell and buy. After 3 months on the market with many different adjustments to the listing and commissions, I received 3 offers. I accepted one offer, was told to reject an offer because my realtor didn't want to deal with them, and sent a backup offer to a third. They were all at the list price since that's what I countered with and all had at least 15% down. Now before my place is even sold, my realtor told me he needs to help those two people find homes to which I was pretty angry. What if my place falls out of escrow? Why was the second offer not a good offer that he advised me to reject but now plans to sell a home to? Is this shady or just idiotic? Obviously he would lose more by me not being able to sell as the condo is worth about $290k and I'm looking to upgrade to about $650k. [link] [comments]  |
| Posted: 01 Jul 2019 01:42 PM PDT We were told everything would be taken care of through impound on our mortgage. A year later we get a special assessment bill overdue. I contacted the real estate agent but she doesn't seem to have any answers. What can I do ? [link] [comments]  |
| Condo and Carpet Floors, first time home buyer advice? Posted: 01 Jul 2019 07:39 PM PDT Hi folks, I am looking to purchase a condo as a new homeowner and seeking advice.
Thank you all. [link] [comments]  |
| Posted: 01 Jul 2019 05:41 AM PDT So, we have an incredible agent representing us as potential buyers. We've been to 10 houses with him, five this year and five a couple of years ago. Last time we walked away without buying as our situation changed drastically, and this year we came this close to making an offer before our criteria changed once again. It's in part due to having a new member in our family, and partly to having only source of income whose employment situation we must conform to. Anyway, I feel like we've wasted a lot of his time and just want to compensate him for his effort before moving any further or seeing any more homes. I was wondering what the protocol for such situations was, and if anyone has had clients with a similar, nervous disposition who were able to appropriately compensate you for your time. [link] [comments]  |
| Appraisal miscalculated basement sq footage, does it matter? Posted: 01 Jul 2019 07:29 PM PDT I'm looking at buying a home from a neighbor, its for sale by owner, and I'm friendly with the owner. They hired an appraiser to get an initial price, and handed me the complete report, it was on the high end of what I expected but still right in the range. After looking it over in detail they list the basement as having the same square footage as the main floor of the house, 1352, when in actuality it's 1017. Is this even worth mentioning? I have no idea how much 330 sqft of basement impacts the price of a small ranch... I want to keep the negotiation friendly, and not be nit-picky, but at the same time it's a huge purchase and I don't want to over pay. [link] [comments]  |
| Low Appraisal Negotiation for Buyer? What to do? Posted: 01 Jul 2019 12:06 PM PDT
------ Wondering best advice on what to do.
I'm trying to keep cash on hand for all new home expenses, but I understand the situation might make me forfeit some of that cash to keep the deal alive. Any help would be much appreciated. [link] [comments]  |
| Can I give my lawyer the boot? Posted: 01 Jul 2019 05:54 PM PDT My lawyer is impossible to get a hold of. I'm trying to negotiate with the seller of a home I'm under contract for. We have a few minor points still on the table but he is slowing down the process to a snail's pace. I sent him comments to relay to the seller on Saturday and their agent just called mine asking for status updates aka he hasn't sent anything over yet. I don't want this deal to fall through as my lease for my apt is up the same day I'm supposed to close. The house checks all the boxes. What are my options? Thanks in advance! [link] [comments]  |
| How to Start/negotiate seller financing? Posted: 01 Jul 2019 05:47 PM PDT Hello everybody!. I do not currently own any properties but that could be changing here soon! I have had my eye on a property I use to live in while at college. The seller has said that the house is 'too big for them' and they are wanting to sell (they own other properties and are farmers). It is a 9 bedroom house on a third of an acre in a dense college town. It currently rents for $430 a person ($3870 a month, $46,440 a year), insurance cost of $1500 a year, and an estimated ~ $6000 a year in taxes based on online calculators. Because it is a high cash flowing rental in a high demand market the asking price is $410,000. With a $400,000 mortgage and a 4% rate that is a $1900 a month mortgage. I have reached out to her and she is willing to consider seller financing. They are also farmers and are currently harvesting and will touch base with me in a week, which gives me time to prepare. My question is, how do I put together a seller financing "pitch" or deal. I told her that I think it would be best to raise the purchase price a bit and lower the rate to reduce her tax burden and better my rate to try to entice her more into the idea of seller financing. I am struggling to put the numbers together and give her a solid idea as to what we should do. How would you go about setting up this pitch/deal, what tools are available to me, and what advice would you have for my first deal. Please feel free to reach out to me by message, I am always willing to get in touch and learn a thing or two! Thanks! [link] [comments]  |
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