Why are only some mortgage brokers able to offer lower rates? Real Estate |
- Why are only some mortgage brokers able to offer lower rates?
- Lazy Condo Associations - THE WORST - A Rant
- Buyer Agent Contract - Is there ever anyway out?
- TO PERMIT OR TO NOT PERMIT
- To Buy? And Where?
- My Experience with Zillow Offers vs Opendoor
- Does your (lower) buying price affect future appraisals?
- MLS Listing Not Truthful
- I can’t help but wonder why so many building have outdoor pools instead of indoor pools..
- As a renter in an apartment complex, would you be interested in the items (for free or for purchase) other renters are getting rid of when they move out?
- Redo my garage to add space?
- Over paid for my condo. First time home buyer, anything I can do?
- Fannie Mae home listed 2 days ago in FL now withdrawn?
- Who should deliver the mortgage underwriting decision?
- Homeowner with a shared DRIVEWAY easement having ISSUES.
- Studying for exam
- PA home buying
- Trying to buy strip of road front property, turning into a trainwreck. Seller's agent had adjoining properties surveyed without permission, trying to attach to adjoining lots, wants us to pay, very confused.
- I need some guidance. What is the Best place/method to market 18,000 sq ft beach access land in Jamaica? (It's already listed on the MLS with a realtor)
- 2 months for a closing date?
- College student, buying 2 houses soon but have limited knowledge about real estate.
- Which is a better overall mortgage: 3.625% rate and 20% down ($50K), or 4.125% rate and 0% down, no PMI?
- What does a home have to appraise for?
- Foreclosure question
- Fall market
| Why are only some mortgage brokers able to offer lower rates? Posted: 27 Aug 2019 05:45 PM PDT Hi, I am trying to refinance and am checking with brokers around our place. Some of them outright say that they can't beat what I already have and others are offering 0.5% lower. How do they get these rates. What is the process in which a broker goes about to search for rates? Is there a database that only they can access? [link] [comments]  |
| Lazy Condo Associations - THE WORST - A Rant Posted: 27 Aug 2019 06:39 AM PDT So I'm selling my condo, and I have an FHA loan. I bought my condo 3 years ago and the condo association was certified. I try to go get the condo documents online to get ready for the condo going on the market, and low and behold, you can't actually get them from the condo property manager without having a buyer. (Oh, and it costs $300 to get them.) Fine, I put my house up, get an offer first day, accept and start with the process. Get the inspection, passes, get the appraisal and it passes, and then the disclosures come. TURNS OUT MY CONDO ASSOCIATION DID NOT RENEW FHA CERTIFICATION. And the property managers didn't tell me. And the condo association didn't tell anyone. In fact, they didn't renew it from 2016 onward. My buyer frantically tries to get switched to a conventional and can't - and the condo association basically says sorry about your bad luck, so my house goes back on the market today. I am so pissed about this I can't see straight. I had my dog boarded during the original time on market so now I have to do handle everything with the dog again, and I have to pay $300 to order disclosures again, all because the condo association are lazy pieces of shit. And the worst part is - we have the stats to get the certification. No dues missing, over 50% owner occupied. They are just too lazy to file the damn paperwork. Rant off, I just had to vent. [link] [comments]  |
| Buyer Agent Contract - Is there ever anyway out? Posted: 28 Aug 2019 03:54 AM PDT We are very unhappy with our realtor. We signed a contract with her when we submitted an offer on our first home. We thought we had to. She was recommended through a friend and not helpful to us. We are first time home buyers with no idea what we're doing, to be honest. We put an offer in on 3 homes, and after each offer being declined, she then tells us what was wrong with our offer and what to do next time. She's also very adamant about using her husband as our mortgage lender, even though we found a better rate. I know home buying isn't supposed to be a cake walk but this is a nightmare. I get anxiety whenever I see her name on my phone. There are no cancellation terms in the contract whatsoever. It just says we are to use her until December 31. So, is that it? Because if so, I do not even want to continue looking for homes until contract is over. She hasn't found us any homes. I do all the work. Any advice is appreciated. [link] [comments]  |
| Posted: 27 Aug 2019 06:11 PM PDT My boyfriend and I just went under contract for our first home. Somehow we were the ones to find out from the county that the seller did not get a permit for the complete renovation (which did add square footage) and the house has not been up to code since the 1970's. Is this something we should be concerned about?? [link] [comments]  |
| Posted: 28 Aug 2019 04:36 AM PDT Hi! So I'm trying to figure out what my best bet is — so lemme lay out the facts:
MY QUESTION: Should I try to buy a place for me to live in here in Boston, or continue to save and buy an investment place in Atlanta? [link] [comments]  |
| My Experience with Zillow Offers vs Opendoor Posted: 27 Aug 2019 01:44 PM PDT I'm hoping to give some insight on both companies if others are curious. Just closed with Opendoor after Zillow tried pulling a fast one. Home is/was 5 years old, no kids, no pets, just me living in it. Well maintained and upgraded. Zillow starts by offering me their "market value of $259k. I said ok to this, as most realtors I met with were telling me to list it at $250k. Zillow comes and inspects it, and a few days later I'm told they are ready with their "repair list." Keep in mind, everything in the home is working and in great condition. I hop on a call and it turns out it's a conference call with the realtor firm they partner with. The first thing they say is that based on the market, they have lowered the offer to $249k. I say ok... go on. They then send me the "repair work" needed and I pull up the email and start reviewing it. The first thing I see is a repair adjustment cost of $7500. I can't post pictures but I have a screenshot that clearly states "buyer makes repairs" (Zillow). Here is the complete list of "Repair work": Total repair adjustment: $7,470.00 After completing your home evaluation, we found the following items are needed to get your home into the condition we expected when we calculated your home's market value. General sales preparation$1,375.77 We make sure homes are cleaned and prepared for the next owner as part of our Zillow service. This usually includes items like cleaning and landscaping that we do for all the homes we purchase. Bathrooms $1,733.41
Exterior$1,571.90
Garage or Carport$153.76
Interior$2,594.69
Kitchen$40.46
At this point I'm getting pretty angry- the whole inside of my house was painted, professionally (neutral color) 2 years ago. I installed all new flooring 2 years ago. The exterior of the house does not need paint, it's only 5 years old. I said so it looks like you want me to pay for a remodel? The lady from realtor started laughing and I told them have a nice day, no thank you! 2 days pass and I get a call from the third party realtor soliciting my business without zillow. HAHA! I kindly told her to eat it. I then went through Opendoor. They made me an offer of $256 with ZERO repair work requested. No BS. Signed and done. So the whole point of this post is to warn people before going through Zillow. I feel they are trying to take advantage of the desperate in need to sell quickly. I get that they obviously need to make money but I believe it should be in a fair and honest way. Don't say you'll cover repair work and then try to get the seller to pay for a remodel. [link] [comments]  |
| Does your (lower) buying price affect future appraisals? Posted: 27 Aug 2019 07:40 PM PDT We're closing on a house at $405k. "Motivated seller" and despite multiple offers, we came out on top because everyone else had "upon sale of property" contingencies, and the seller needed it gone. The zestimate (I know) was $440k, the preliminary appraisal based on similar properties within a half mile was $450k. Obviously I'm happy to pay a great price for a reasonably well-priced, perhaps even slightly undervalued, house, but I'm wondering - will our purchase price cause any issues if we were to sell this house in a couple of years? Basically, does a lower purchase price change anything from the future appraisal perspective? The only reason I ask is because the zestimate (I know) fell to $395k only after it became pending at $405k. I'm just wondering if that will ever come up in the future at all, and how this works in general. [link] [comments]  |
| Posted: 27 Aug 2019 05:57 PM PDT Hello! Recently, y'all were helpful when I was in the early planning stages. Well now I have a great buyer's agent and have a lender (jury is still out on the lender). I found a house with a lot of things I love and a few things that scare me (specifically: it's very old BUT the sellers redid the kitchen and main bathroom). One of the selling points was the driveway, which is advertised on the MLS listing. Specifically, it has "paved driveway" as one of the amenities and under offstreet parking, it lists 3 spots. My agent learned from the seller's agent that the neighbor actually owns the land that the driveway is on. The sellers attempted to buy the land a few years back but losing the square footage would cost the neighbor her zoning. There has been a verbal agreement that the sellers had sole access to the driveway. What options would I have if I choose to purchase this home? Here's what I've been exploring: 1. Obtain an easement (sellers are unwilling to help obtain this) 2. Negotiate a lower rate because building a legal driveway would be messy + the MLS does have misleading information 3. Walk away and keep looking elsewhere Any advice is appreciated, especially from people familiar with weird property line situations. [link] [comments]  |
| I can’t help but wonder why so many building have outdoor pools instead of indoor pools.. Posted: 28 Aug 2019 01:05 AM PDT I get if it's a place where there's beautiful, warm weather year round, that makes complete sense. I'm talking about places with all 4 seasons. I've noticed that here in Chicago, apartments/condominiums mostly have outdoor pools instead of indoor pools. I Considering that we usually don't even have a full 3 months of summer weather, the pool can't even be used for 1/4 of the year.. but, with indoor pools, you can swim whenever. It sure would be awesome to take a relaxing indoor swim while it's cold out. And in the summer time, have a separate outdoor sundeck somewhere near the entrance of the pool so you can enjoy both things. Wouldn't that be much more rational or am I missing something?! Haha [link] [comments]  |
| Posted: 27 Aug 2019 08:52 PM PDT I've noticed: 1- renters moving in toss out their moving boxes 2- renters moving out purchase new moving boxes, donate items, and try to sell more valuable items on Craigslist or display physical ads around their complex in hopes to sell items to neighbors [link] [comments]  |
| Posted: 27 Aug 2019 05:38 PM PDT We have a 1700 sq house with two car attached garage. We have three bedrooms and four young kids and wife works out of bedroom converted to office. We don't have any room to add onto the house to get more space. Was thinking of tearing off my garage and rebuilding to allow a room above. The new "garage" would be a three car equivalent but the part closest to the house would become a mud room and laundry room. This would let us use our current laundry room as a pantry which we also lack. Is this crazy? My max spend would be $70K. Above that and it makes more sense to move to a bigger house in another neighborhood. We like our neighborhood though. Lots of kids going to the same school. Safe dead end street to play in. [link] [comments]  |
| Over paid for my condo. First time home buyer, anything I can do? Posted: 27 Aug 2019 02:27 PM PDT I planned to refiannce just beacuse rates have seemed to greatly drop since I bought last year. The appraiser came today and basically said I paid 20k too much and made a pretty strong agrument. I live in downtown Chicago. Last year there were only 1-2 condos in my building for sale. This year there are 4-5 150-200 sqft larger and 10k less then what I paid for sale. I have no plans of moving anytime soon. My goal was always to keep this as a rental anyway The payments are not an issue I just wanted to take advatage of a lower rate. I know there is basically nothing I can do about this situation, but for this property in the future is there anything I can tdo to mitgate my loses? [link] [comments]  |
| Fannie Mae home listed 2 days ago in FL now withdrawn? Posted: 27 Aug 2019 10:24 PM PDT Why would the bank withdraw the home from the MLS? My realtor spoke to the listing agent the same day we viewed the home and let them know we are really interested, just wanted to view again when it wasn't down pouring. No inspection has been done but, the floors were spongy and sagging in the middle & there might be mold. I don't know if that has anything to do with it? I did go onto the Homepath website and it's still listed there but, it now says "coming soon." I'm just very confused as to what's going on with it. I'm hoping it comes back on the market because this was our dream home that we'd stay in and pass down to our children. [link] [comments]  |
| Who should deliver the mortgage underwriting decision? Posted: 27 Aug 2019 06:36 PM PDT I've been going through a mortgage refi for the past few months. Most of the time I've been communicating with the processor. Today it looks like the underwriter finally rendered a decision, and I got an email from the processor telling me that my mortgage banker will be in touch to go over it. Does this imply bad news or am I over reading this situation? [link] [comments]  |
| Homeowner with a shared DRIVEWAY easement having ISSUES. Posted: 27 Aug 2019 04:21 PM PDT As you guys know, I am a real estate broker. And if you didn't know: Hi I'm Julian a real Estate Broker! :) Now with the formalities out of the way, I have a potential new client who is having issues with his new neighbor whom he has a shared driveway with. It's literally two side by side single family residences (my new clients is larger) and they share one large driveway. I'm still in the process of getting the recorded easement documents and other docs to see if there is an easement agreement. I just want to know if he has any other recourse in addition to getting a RE lawyer. Apparently, this new neighbor ended up renovating the whole house and turned it into a bed and breakfast. Now whether it's on Airbnb or vrbo, my client isn't sure, but random people are starting to occupy the place and even blocking my clients car in. The neighborhood is usually quiet, but now there has been noise from this house. The neighbor doesn't care about my clients complaints. He also said that the type of renovations that the neighbor did needed permits but when my client searched, he didn't find all the proper permits. My client contacted building and safety and they shrugged him off. My client also called the cops regarding the driveway issues but the cops helped when there but the neighbor and his tenants continue to disregard his complaints. My client said this has drastically reduced the desirability of his house and he wants to know if he can do something prior to listing his home for sale. I'm in the process of getting him an attorney but what do you guys think of a situation like this? [link] [comments]  |
| Posted: 27 Aug 2019 03:28 PM PDT What is the best way to study for my real estate exam in California? [link] [comments]  |
| Posted: 27 Aug 2019 05:40 PM PDT Looking to buy my first home as I'm going to get booted from my current place as they want to do some renovating. Problem is I only have about $2K and the house I want is $45k. Estimates I've got for closing costs is like $5k, is there any way I can get a house at this point or am I stuck blowing my money on an apartment? [link] [comments]  |
| Posted: 27 Aug 2019 01:49 PM PDT Kind of long, will do my best to stick to relevant info. This is in Clermont County Ohio. Long, narrow strip of road front property is for sale. Shares property line with two lots (1 with mobile home, 1 with home) both properties on septic (relevant later). Sale property is not wide enough to build on or put in a septic. My mother owns the lot with the mobile, I own the 10 acres and home behind her (does not share property line with lot for sale). Mother and other neighbor with shared property line wanted to buy the long thin road front lot. Everything was set to split the lot in half, with neighbor buying the strip in front of his home and mother buying the strip in front of her mobile home. It was expressly stated and agreed upon by seller's agent that the road front lot (zoned CAUV) would not be combined with the lots the homes sit on. Seller's agent advised that lot would have to be surveyed in order for it to be split, that was agreed upon. Seller's agent advised that zoning would be changed from CAUV to residential, also agreed upon. Seller's agent contracted a surveyor to survey the lot AND both lots the homes sit on with no prior discussion or permission. Neighbor found surveyor digging in her yard, that is how we found out. Paperwork comes for closing and the now-split lot is attached to the respective home lots. My mother backs out of sale immediately due to what she feels is dishonesty on part of seller's agent and not knowing what this will do to her taxes. Neighbor still wants his half of the lot. Seller's agent advises they cannot move forward if my mother backs out. I step in to buy the lot adjacent to my mother's property. Financing is secured. The lot would not be able to be attached to my mother's lot if I buy it as I am not on her deed, nor would it be able to be attached to my property because there is no shared property line. Seller's agent advises the lot cannot be sold to me, only my mother. I'm assuming this is because the lot cannot be attached to another lot? Cannot get a straight answer from seller's agent or the county. One thing that has been tossed around is that the lot is not big enough to support a septic system. We would not be building on it anyway. Can anyone help give me an idea of what is going on? Or what questions I need to be asking seller's agent and the county? I have a meeting with seller's agent tomorrow then my next step is setting up a meeting with county zoning. [link] [comments]  |
| Posted: 27 Aug 2019 08:47 PM PDT |
| Posted: 27 Aug 2019 02:07 PM PDT House is 100+ years old, need some repairs, has been in the market for 5+ years. Gone through multiple real estate agents, have cut price multiple time's. We have had three potential sales and each time the financing fell through on their end. I placed on Facebook marketplace and had multiple people interested. We have a new potential sale, we have waited over a week for them to get their finances in order and they messaged today that their bank has set a closing date for about 2 months from today. My concern, we now have people interested in seeing the house and considering to purchase the house ( the irony lol). What if we wait the two months and they back out or their financing falls through again, despite a contract ( we had contracts with the past potential buyers and it didn't matter) and others now are no longer interested in purchasing? Can we request a quicker closing date? [link] [comments]  |
| College student, buying 2 houses soon but have limited knowledge about real estate. Posted: 27 Aug 2019 07:49 PM PDT So here's the scoop, 20 y/o currently own an online business that brings me $ 1000-2000 per week cash that I save entirely. The business has very little to no overhead and man hour requirements. Literally a Facebook page that's an absolute money cow. I work full-time at the moment to finance my needs/social life from work income. I'm a waiter. Work on the business on the days off work. My plan at the moment is to buy 2 rental properties without leveraging (2-3 bedroom houses) that are roughly worth $45,000- $ 55,000 each. I'll rent them out and then take out a loan to buy a third property to rent out. I'll use the income from the first two to pay the interest of the third property and keep/re-invest the different from all three + business. This sounds good to me but like I said I've no idea so perhaps you guys could help me out and add/take away from my plan? Real estate is new to me, all this money is new to me so I'm going to try my best to establish a strong foundation to move forward and invest further. I really need input from you guys. I've been through a couple threads and people seem to know what they're talking about. Buying a few more books at the moment. Thanks a lot [link] [comments]  |
| Posted: 27 Aug 2019 07:47 PM PDT (Reiterating for formatting reasons) I'm looking at two mortgage situations: A) 3.625% rate and 20% down (which is $50K) B) 4.125% rate and 0% down, with no PMI I think the second option has a better overall value, especially if I put the 50K difference in the market. But somehow, it doesn't feel right to pay for a higher interest rate. Any advice? I'd love someone to check my math too. Here's my math: A) Real cost over 30 years: -214,475.78 B) Real cost over 30 years: -284,906.62 50K invested over 30 yrs: 405,918.00 Total: 121,011.38 This means choosing plan B has a difference of netting me 335,487.16 more than plan A? Tools used: [link] [comments]  |
| What does a home have to appraise for? Posted: 27 Aug 2019 07:46 PM PDT So I am in the midst of buying my first home. Our appraisal is this week and I am wondering exactly what the appraisal is all about, I am FHA so I understand if the home does appraise for what I offered i have the option to pay the difference, have the seller meet the price or walk away. However my question is... I offered 170, with the seller paying 4000 in closing and I just got to thinking.. does it have to appraise for 170 or 166? Any help would be appreciated google wasn't much help! Thanks! [link] [comments]  |
| Posted: 27 Aug 2019 06:43 PM PDT So I'm renting my house to my brother as I could no longer afford it. The house is in the state of Mississippi. He's lost his job and I'm now having to try and make as much on payments as I can. The bank has basically told me they are about to start foreclosure. My question is, if I were to let the foreclosure happen, how long does it usually take for the foreclosure to be approved and then, how long does it usually take before an eviction notice is given? Any help would be appreciated. [link] [comments]  |
| Posted: 27 Aug 2019 09:21 AM PDT Any concerns or tips about putting our house on the market the second week of September? I know we've missed the great Spring selling season but we couldn't control the timing. I also have heard there is a decent fall market. [link] [comments]  |
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