PSA to anyone closing on a home Real Estate |
- PSA to anyone closing on a home
- Closing Day
- Buying a house on behalf of a sex offender [IN]
- Seller's attorney fired his clients one week before closing
- Replace carpet or build in an allowance?
- What am I looking at here?
- Can I put a "down payment" after buying a house?
- [Question] Buyers and agents: What usually marks the “this is the one” moment when browsing potential properties?
- Sellers were given back their escrow
- Buying a home with possible unpermitted work?
- What practical advice would you give to 21 yr old looking to invest in rental property in the next few years?
- Condo Shower
- Beginning in real estate investment - looking for guidance
- Will rates keep dropping?
- Not sure how buying a house and selling an existing house at the same time works
- (IL) Saw Foreclosed Home with small amount of visible Mold on lower corner of Basement wall. Deal Breaker?
- [CA][Rental] Should I be expecting to pay a broker fee?
- Final walk through is tomorrow - just learned house burglarized yesterday
- [Bay area, California] is realtor rebate still a practice?
- Bought a brand new condo in a small(and new) association in California. Is the owner/builder/seller of the units responsible for paying HOA for unsold units?
- My grandmothers realtor is staying at her house and fixing up the property for free.
- QUESTION ABOUT CLOSED PREDICATION
- Reinvesting 100k equity to create cash flow
- Hello. I am planning to sell my house but not until I find the perfect house. I want to cry poor considering my asking price based on the fact no one should know what I owe on my mortgage when they make an offer. Right?
| PSA to anyone closing on a home Posted: 09 Aug 2019 07:02 PM PDT Please, for the love of God be weary of wiring your down payment to the title company. I say this as a title company employee, who just today had 2 instances of wire fraud occur at our office. The first someone had hacked the email between our office and the buyer and altered our wire instructions. The second an agent forwarded our instructions to the buyer who then wired his money ($75k) to a fraudulent account. If your title company is wants you to wire funds, only accept via fax and call and confirm with 2 people in the office that they are correct- or if possible get the instructions in person. [link] [comments]  |
| Posted: 09 Aug 2019 11:48 AM PDT What a relief it is to finally be here! We sold our first home on July 31st and have been housesitting for the past 9 days waiting to close on our new home. It definitely didn't help that I am 38 weeks pregnant with our first baby. Everything is in storage and we're living out of our suitcases. Pets are scattered amongst the family. It was definitely not ideal to do things this way, and I've been stressing every possible "what if" while we were sitting here in limbo. But today my new mortgage showed up in my account and despite the increased debt, it is such a relief! Moving day is tomorrow!! And the house is beautiful. A brand new home, something we never saw ourselves affording when we bought our first little townhome 3 years ago. Just had to share my excitement. [link] [comments]  |
| Buying a house on behalf of a sex offender [IN] Posted: 09 Aug 2019 07:40 AM PDT EDIT: They'd be my occasional room mate. It would be my house. Sex offenders have to register after 7 days of being at an address. Something like that. So yes, this house has to be away from and schools or parks if I want to house my family member when they need a place to stay. Hey, I'm looking to get a house. One of my family members is a registered sex offender. They still have trouble finding a place to live, even though the case was over a decade ago. They're hard workers and honestly decent people. Made and paid for a mistake while they were struggling with things that happened to them in the past. I'm tired of seeing them be pushed around with other family members or having periods of intermittent homelessness because of this. A house is a big investment. I need a realtor to help me find one. How do I (realistically) explain that any house needs to be 1000ft away from any schools or parks? Can I have confidence in my realtor to keep the information private if I say it's because one of my family members is a sex offender who may be living with me? [link] [comments]  |
| Seller's attorney fired his clients one week before closing Posted: 09 Aug 2019 12:34 PM PDT Looking for some outside opinion on the matter... We're on the buyer side of a single family home transaction. During the process so far, the communication hasn't been great. We come to find out that the attorney fired the sellers now one week before closing. We have everything like mortgage ready to go. Now, we're not sure if we should start canceling.
Note: We've already gotten in touch with our lawyer... but wanted to see if anyone has experienced something like this before? [link] [comments]  |
| Replace carpet or build in an allowance? Posted: 09 Aug 2019 06:09 PM PDT We're preparing our first house to be out on the market and we're trying to decide on whether to replace the old, worn-out, stained carpets in the bedrooms or leave it and build in an allowance for replacement as part of the sale. It's a 3 bed, 2 bath, 1440 sq/ft home in a safe neighborhood in the American Southeast. Thoughts? [link] [comments]  |
| Posted: 10 Aug 2019 12:39 AM PDT So I'm new to real estate and still learning, but I was wondering how realistic I'm being. I am looking at buying a property for 8k. From there I plan on building a nice container home (I have a connection for the containers so cost isn't an issue) and flipping it. The lot I'm looking at is 10,000 sqft and my plans for the house are looking to be around 1100 sqft. Could I flip something like that for a nice profit? [link] [comments]  |
| Can I put a "down payment" after buying a house? Posted: 09 Aug 2019 04:32 AM PDT Hey guys, just trying to make sure I'm not missing something here. Wife and I are buying a house using USDA Guaranteed mortgage. We were planning on putting about 4% down (around $10k) but at the time were thinking interest rates were around 4% and that the house didnt need any work. We are now realizing that we could really use the extra cash, as the roof is okay but it will most likely need replaced in the next 5 years or so. Likewise, the money could go really far doing some little projects that would make the house much nicer and likewise boost its value I'm sure. Also, we are currently locked in at 3.25% which is fantastic and much lower than I was anticipating. The USDA loan doesnt require any down payment at all. This is our first home, and we can easily afford the monthly cost without a down payment at all. My question is, if we change our minds later on, whenever that may be, would taking that $10k (or less if we use some) and just paying it towards principle be the same as putting a down payment? Just want to make sure I understand correctly. Something in me cringes at not putting anything down at all. But we weren't able to put much down to begin with anyway, so. Thanks for your input EDIT: Thank you to everyone for the considerate responses, it means a lot! We'll hang onto the cash and use it wisely, whether that be for updating the home or investing it [link] [comments]  |
| Posted: 10 Aug 2019 12:07 AM PDT Whether it's the architecture, paint color, views, yard, acreage/square footage, appliances, floors, kitchen, bathrooms, closets, HOA amenities, or a dumb piece of decor you won't be buying anyway... what feature of a listing turns your interest into an offer? [link] [comments]  |
| Sellers were given back their escrow Posted: 09 Aug 2019 07:32 AM PDT I co-signed on a house with my mom in Illinois. We signed for the house in October. We have an FHA loan. The sellers put aside $8,000 for the repairs that we all agreed to. Our contractor finished about 2 months ago and told us he was told the money went back to the sellers. Our lawyer is hard to get a hold of and we had given the contractor his info. We just found this out today. What can we do. The contractor wants to put a lien on the house. [link] [comments]  |
| Buying a home with possible unpermitted work? Posted: 09 Aug 2019 06:06 PM PDT I am considering putting in an offer that I am 99% sure has had unpermitted work put it. The house is listed at 3bed+1bath, 1100sqft. However, one of the "bedrooms" has been converted into a den and has the door(s) removed. Maybe even some of the wall has been removed? I'm not sure, I am guessing because it connects to two different rooms now. Also, the listing description says the house measures 1400sqft, that must mean ~300sqft must have been added-on at some point, right? The seller agent says that the current owner bought it in this state, and they have no idea whether the work was permitted or not. The seller agent also said that the work could have been done decades ago and the records could just be missing (the house was originally built in 1924). This is in the Los Angeles area and the local records show 1100sqft, 3+1.
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| Posted: 09 Aug 2019 09:32 PM PDT I know this is vague, but some sage wisdom would be appreciated [link] [comments]  |
| Posted: 09 Aug 2019 07:54 AM PDT Upstair neighbors shower keeps leaking onto my unit's ceiling, been going on since 2018. Every time we tell them it's happening they send a plumber who "fixes" it by recaulking, last time they resealed the drain. Andddd now it's leaking yet again. FML
Can I just call my own plumber have him fix all of this. Pay my plumber and send a charge to the owner to pay me back? If the owner refuses to pay how can I send this to private collections? I have records of all the conversations l, sent them video proof of the leakage [link] [comments]  |
| Beginning in real estate investment - looking for guidance Posted: 09 Aug 2019 04:59 PM PDT Background is as follows:
Rather than expect an easy path I recognize I need to drink from the fire hose for a few months — I'm looking for the following:
Basically I want to begin learning what options I have, if it's best to tackle this alone of strategically find business partners with capital. And given I'm ready what is the safest way to keep a reasonable return that will outperform stocks (I'll keep plenty in the market but this is another stream) Basically at 45 I don't want my day job by necessity but rather keep it because I enjoy it and diversify my income so I have options. [link] [comments]  |
| Posted: 09 Aug 2019 11:50 AM PDT In the process of buying a home. We are about 3 weeks out from closing. I'm curious if we should lock in our rate now (3.875% on a 30 year fixed) or if the general consensus is that rates will continue to drop? [link] [comments]  |
| Not sure how buying a house and selling an existing house at the same time works Posted: 09 Aug 2019 02:19 PM PDT Sorry if this is a silly question, but I've never done this. When I got divorced and bought the townhouse I live in now, I got the proceeds of a joint savings account. That's what I used for the down payment. In the next couple of years, I'd like to move to Bucks County, PA from NJ in hopes of lower property taxes. I'll have about $40-$45K in cash saved, which isn't bad but probably not enough for a down payment on something in the $300K range. My current place would probably go for about $370-$380K, and I've probably got around $140K in equity in the house. I figure loads of people have done this before. I just wondered how the process worked. Thanks in advance! [link] [comments]  |
| Posted: 09 Aug 2019 11:28 AM PDT Hi everyone, So a few days ago I saw a home that was Foreclosed and at a good price in a great neighborhood with similar good-looking homes. Of course, the exterior was awesome, but as expected, the interior needs to be repainted. Although the Appliances were great and the furnace/ac was great too. Plus the basement was nice and clean.... Except for one small area on the basement bathroom, around the back of the Toilet and next to it too, there was visible mold. However the black color of the Mold was not too dark, sort of a "lighter shade of black", so it's possible it is a relatively recent issue. The inspection for the home is scheduled in the upcoming weeks, but is this already a deal-breaker? Any tips? Thanks [link] [comments]  |
| [CA][Rental] Should I be expecting to pay a broker fee? Posted: 09 Aug 2019 08:09 PM PDT I'm relocating to Los Angeles, and I reached out to my cousin to see if he knew anyone in the RE biz to help me find a place. He hooked me up with a realtor down there who's perusing the MLS and sending me some listings. He's going to try to arrange some showings while I'm down next week. I haven't discussed any fees with him. Should I ask? Are tenant brokers required to disclose or have anything signed ahead of time? I just don't want any surprises. Thanks. [link] [comments]  |
| Final walk through is tomorrow - just learned house burglarized yesterday Posted: 09 Aug 2019 12:31 PM PDT House was vacant with no security system. Burglars accessed the RE box and stole a bunch of the staging furniture before the neighbors called the cops. I know we aren't on the hook for the furniture. Our agent says this happens sometimes, and the lack of any camera or security system on a vacant home was a really dumb move on the seller's part. We are scared and unsettled, obviously. The house is in a good area and the next door neighbor apparently caught them in the act and even filmed them. I don't know any other specifics yet. Have plans to : 1) make sure no damage was done to the house on the walk-through tomorrow - seller is responsible to fix if there is per RE agent 2) Setup a consult with a local well rated security company the day after close and put a wired system in the house Would appreciate any thoughts or advice. [link] [comments]  |
| [Bay area, California] is realtor rebate still a practice? Posted: 09 Aug 2019 07:31 PM PDT I'm a prospective first time home buyer here still in the learning and preparing process. I just heard of the realtor rebate today was a bit surprised because to me, I'm already getting the realtor's service for free. So is the rebate still happening in the market. If it is, when would be the best time to bring it up? [link] [comments]  |
| Posted: 09 Aug 2019 07:15 PM PDT Basically my title. I am having a hard time finding this info through Google. For a small association with 4 never been sold units, is the owner of the 4 units responsible for paying HOA fees of the unsold units until someone buys said units? [link] [comments]  |
| My grandmothers realtor is staying at her house and fixing up the property for free. Posted: 09 Aug 2019 07:10 PM PDT |
| QUESTION ABOUT CLOSED PREDICATION Posted: 09 Aug 2019 05:56 PM PDT The selling agent just informed me that the sellers just accepted another offer but they signed a closed predication addendum. Can they do that? [link] [comments]  |
| Reinvesting 100k equity to create cash flow Posted: 09 Aug 2019 06:35 AM PDT I'm inexperienced in real estate investing, but I recognize the opportunity and I see the path to financial freedom. Any advice is appreciated. I am currently selling my house. We've gained about 30% over the past 4 years and I want to reinvest the money into real estate that produces a cash stream. I will have around 100k cash and a VA home loan. I have looked into STR cabins in the Smokey mountains and refurbishing houses bought at auction to rent as section 8. One of the reasons I'm interested in section 8 is the resistance to a recession. People always need housing. The benefits of Short term rentals in the Gatlinburg area is the larger income, but they have large mortgages and tax burdens. What other options are out there? [link] [comments]  |
| Posted: 09 Aug 2019 09:01 PM PDT |
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