Neighbor wants me to sell her my driveway but parking is tight. Detailed analysis help Real Estate |
- Neighbor wants me to sell her my driveway but parking is tight. Detailed analysis help
- Can a 18 year old buy a house for investing purposes?
- My cousin is selling me her house at a discount. Will this be a tax burden?
- Walk-through too early
- Bedroom Windows
- Records show I’m the owner of neighboring lot
- Waiting until credit score updates again to apply for mortgage?
- (Seller) Sewer line found to be broken after inspection. What are my options?
- Need a second opinion on housing advice In NYC
- $395,000 house -- Am I Aiming too High?
- Pros and cons of purchasing without a buyer’s agent?
- If a home's permit history shows the seller did some repairs himself, is that a red flag? (Los Angeles)
- Itemize to go beyond $10K SALT limit
- Things to think of when buying your first house?
- Just want an opinion from people more experienced than myself
- Stop refinancing process
- Tax on selling house
- What's the best first time home buyer program if you already have cash for downpayment? (Virginia)
- Resume help
- What Impact Does Running a Business Have on Your Homestead Exemption?
- New investor!
- Closing on home
- Advice on selling a porperty abroed
- How to create a strong cash offer
| Neighbor wants me to sell her my driveway but parking is tight. Detailed analysis help Posted: 01 Sep 2019 05:51 PM PDT I bought a duplex and on one side (the one I'm moving into) there's a driveway between my unit and my neighbors house. She had historically used the driveway because it was a family owned duplex, but her sister in law, the seller, kind of kept her out of the loop. However, I know my neighbor received some money from the sale. The driveway is squarely in my parcel. She doesn't have any other parking available to her- her parcel is narrow and building her own would be tough. There is a winter parking ban where parking on the street is not an option. I initially offered to rent her spots but she countered by asking if I would sell her the lot. I'm thinking about it, but 1. it's hard to find a configuration where I feel I have ample space for myself and future tenants, 2. I have no idea how much of a hit in value I'd take without the nice big driveway and 3. I don't know how much I'd want if I were to sell it. On the other hand, unless I rent her 2 spots, her and her daughter are going to be frigged during winter. The square footage of the driveway is about 600sqft, about 10% the area of the total parcel. Sale price was 143k. One method would be 10%, so call it 14.5k. That's not really enough for me - feel like I'd be losing more in value. I could use cash, but not at the expense of lost house value. I offered to rent spots for $50/each/month, but I'm having second thoughts about that because I lose a significant amount of parking and take on liability risk for pocket change. What should I do??? [link] [comments]  |
| Can a 18 year old buy a house for investing purposes? Posted: 01 Sep 2019 10:48 AM PDT Hello, not sure if this is the correct sub to ask my question, so I apologize if it isn't. My question is whether or not I'm legally allowed to purchase a property in the U.S as an 18 year old by paying straight cash. I know I can not get a mortgage since my credit score isn't the best. The house in question is a 4 unit establishment, in a relatively cheap housing area in Texas. There are tenets occupying all of the units. [link] [comments]  |
| My cousin is selling me her house at a discount. Will this be a tax burden? Posted: 01 Sep 2019 06:21 PM PDT My cousin is selling me her house. She had an appraisal and it is valued at $275k. She is selling it to me for $235k. Will I need to pay a gift tax or any other tax as a result of the discount? [link] [comments]  |
| Posted: 01 Sep 2019 01:06 PM PDT We are supposed to close on our new home this Wednesday. We had a walk-through last Tuesday and sellers were present (too busy to leave). He showed us the one item we requested to be fixed and we were satisfied with that and signed papers with our realtor. Fast forward to this weekend, our realtor contacted us and asked us if we wanted to buy the kitchen island. She had told us that it was included (rather, should be because it was likely bolted to the floor). That thing is heavy and it did not budge at all. So now they are removing it because we refused to buy it. There are built-ins in one of the bedrooms. I am not sure they will go either. I am questioning everything our realtor told us would be included. Plus I wonder about the condition of the tile floor under the island and the walls with the built ins. Our loan is already funded, but not dispersed. We asked to have a second walk-through after the seller has vacated the property. We are not experienced at this and did not realize that we shouldn't have done the walk through so early. Our purchase agreement says that we are entitled to a walk through 5 days before closing. Our walk through was prior to that. Our realtor has not responded to our request and it has been 24 hours. Advice? [link] [comments]  |
| Posted: 01 Sep 2019 10:19 PM PDT Hey all - we're building a new home and I noticed that in one of the bedrooms, the windows are not designed to open. The bedroom is on a first floor and facing the front of the house. Seems like a silly question, but are bedroom windows required to be operable by code? [link] [comments]  |
| Records show I’m the owner of neighboring lot Posted: 01 Sep 2019 01:14 PM PDT I purchased my home a year ago. It was surveyed twice. Once by the seller and once during my contract period. Both show my property only being the 3/4 acre lot with dwelling. My neighbor who owns the adjacent lots told me a couple of weeks ago that the records show I own the north lot adjacent to my property. How do I go about correcting this? Will it be as simple as going to the tax office with my surveys? I don't want to be responsible for the taxes on the other lot and I also don't want to be responsible/involved with the squatters he's currently trying to evict. Edit:the source of info is his sister who works for the county and also I've looked at Google maps and it shows both lots as one big property. [link] [comments]  |
| Waiting until credit score updates again to apply for mortgage? Posted: 01 Sep 2019 04:22 PM PDT Hi all, I'm in the process of possibly building an express home in December so that it's ready by April/May/June around when my lease is up. I just paid off one of my credit cards off and a big chunk of another but my credit score is still showing that I owe those amounts. Before officially applying for a mortgage, should I wait until my score reflects the payments I made? [link] [comments]  |
| (Seller) Sewer line found to be broken after inspection. What are my options? Posted: 01 Sep 2019 09:42 AM PDT I'm selling my grandma's house after she had to move to a care facility as she has Alzheimer's. After fixing the place up I put the house on the market. I had three offers on the first day making me think we listed it too low. I accepted a cash offer at asking price pending inspection. Another offer was for $3,000 above asking with conventional financing. The buyer had a sewer inspection and is claiming the sewer line is not attached to the city main sewer line. There have been no issues with the sewer and I haven't seen the video. Should I get my own inspection? Estimates are coming back between $6,500 to $9,000 to fix. Am I required to fix the line to sell the house? Should I offer to lower the cost of the home and let the buyer fix the issue? [link] [comments]  |
| Need a second opinion on housing advice In NYC Posted: 01 Sep 2019 10:00 PM PDT Right now I'm renting a small bedroom in Brooklyn for $950. It's 4bed, 2bath. I was told that I could save money by buying a home in NYC and renting out the rooms. So that their rent pays for the mortgage and I won't have to pay and I could just focus on paying off my loans. I'm a new graduate with 100k in student loans, the whole buying a home seems outrageous to me. I just feel like it'll put be deeper in debt. Are they right about this? I know two people who are doing this but I don't know if it's worth it [link] [comments]  |
| $395,000 house -- Am I Aiming too High? Posted: 01 Sep 2019 02:06 PM PDT My wife and I are home health physical therapists and we decided we want to move into a house. Instead of the starter home idea, we wanted to go straight for a great house in a top 5 school district in the state of Texas. Houses in North Texas are expensive, particularly in the areas with great school districts. Well, we found a house for $395,000 and we offered listed price (per the advice from a family friend realtor, as he said this house will go at listed price FAST). Well, they accepted our offer and things are in motion. We went with a mortgage program that has no PMI and is 4.5% (my credit isn't stellar so this saved us $350 per month). We're putting 3% down and our income compared to debt is as follows: Mortgage payment = 27% of income Student loan debt and other debts included =38%. We don't have kids and our income is at a per visit rate, so it's hard to determine if our pay will go up or down this upcoming year. I'm extremely concerned we're aiming too high. I know this house has EXCELLENT resale value, but it will put a lot of pressure on us. Advice on our situation would be greatly appreciated as we're set to close in 3 weeks. [link] [comments]  |
| Pros and cons of purchasing without a buyer’s agent? Posted: 01 Sep 2019 09:18 PM PDT Location is Sonoma County, CA. Purpose of the purchase is a primary residence (not a rental). I am looking at three homes in a neighborhood I like. All three are on the same street, same vintage (mid-2000's), same builder. Any of the three houses would satisfy me. I anticipate offering approx. 5-10% below the asking price (depending on the house). All three are located within 100' of one another and there may be an interesting opportunity to leverage that for an advantageous price. My question is: what is the value of a realtor in this case? Would working with an attorney to draft an offer and affording the seller the chance to save the buyer's agent commission be attractive? Am I asking for trouble? Background on me: I have 3 property purchases under my belt, and none were typical. 1 was a personal residence that I converted to a rental in Canada, and the other two were private cash sales (multi-unit rental properties). None were in California. Weirdly, I've never worked with a buyer's agent but I've also never bought a home for my personal use as a primary residence. Contingencies I anticipate: inspection with renegotiation rights, financing (30-yr fixed, 20%+ down), 30-60 day closing, and 2 weeks to get a contractor in there to confirm I can get a pool in the back yard. Would appreciate any advice or constructive criticism the community can offer. [link] [comments]  |
| Posted: 01 Sep 2019 04:13 PM PDT Hi all: I recently had a licensed structural engineer recommend some minor repairs to my garage roof rafters. (I was concerned my garage wall was tilting outward due to repeated roof leaks, but he concluded, in writing, that the wall is safe and is not leaning.) However, he advised I nail supporting beams to the the existing beams (sistering) and add some metal brackets for overall support -- it's all very basic handyman work I can do myself. However, even if I pass city inspection with an owner-builder permit, would this look bad to a potential future buyer? It's my understanding that savvy buyers' agents will review a home's permit history. I know I'm probably worrying about nothing, but appreciate any feedback. [link] [comments]  |
| Itemize to go beyond $10K SALT limit Posted: 01 Sep 2019 11:54 AM PDT If I can itemize my mortgage interest and other deductions well past the $10K limit for SALT, is it possible to do that for the 2018 tax year? Or is the $10K limit true regardless if you itemize or take the standard deduction? [link] [comments]  |
| Things to think of when buying your first house? Posted: 01 Sep 2019 11:14 AM PDT (UK). I'm looking at buying my first home in the next year or so by myself. I earn a modest wage of around £24,000. I'm looking at a house approximately worth £90,000-£115,000. My only rules are that it has a good garden and somewhere to park the car. What are things I should be considering and thinking of when I move and when looking for a house itself. Thank you. [link] [comments]  |
| Just want an opinion from people more experienced than myself Posted: 01 Sep 2019 10:01 AM PDT So I am a single military member who makes $1800 a month($21600 a year) and I have 22k in savings and 3.5k in my roth tsp. I have all of my needs paid for me and it is not possible for me to increase my pay by getting BAH or BAS as it is not available to me. I was wondering how much money I would be able to get for a home loan and do you think it is feasible for me to pull off purchasing a property and renting it out with this income? [link] [comments]  |
| Posted: 01 Sep 2019 07:26 AM PDT I sent our details to a broker for a credit check and he sent us the loan documents. We haven't responded yet. Just has been a day. I see that the market may change in a month and I would like to wait. How appropriate is it to stop this. I understand that the broker may have incurred costs to do the check and spent time preparing the documents. [link] [comments]  |
| Posted: 01 Sep 2019 04:26 PM PDT Not sure if this is the right sub for this, this is what I think it relates to My dad owns a house but the title is under his cousins name but the mortgage of the house is under my dads name, all payments on the house were made by my dad and was paid off by him. The house is in southern California and was purchased in 2002. I read something online that if you lived 2 of the last 5 years of sale that you have a tax free break on profits of $250k and 500k if you file jointly. However the title being in my dad's cousin name, will that have an affect in the tax? Will it charge my dad's cousin tax or my dad's? Or does he get the break because he was the one who paid and lived at this house? [link] [comments]  |
| What's the best first time home buyer program if you already have cash for downpayment? (Virginia) Posted: 01 Sep 2019 04:11 PM PDT I have some cash, I want to get a house and pay it off as soon as I can as a first time homebuyer. If a house is 250k and I can put 20% down what is the best first time home buyer program that I can go for? Can I put 20% down payment and still get downpayment and closing cost assistance? I can only afford 900-1100 a month for mortgage. Is it better if I just buy a land and get loan to build a house? Thank you. [link] [comments]  |
| Posted: 01 Sep 2019 02:28 PM PDT Hi yall! I recently got my real estate license in the state of CA. I'm currently working a serving job, but am looking to start applying to brokerages. I'm updating my resume and I feel like there's quite of bit of work experience that just takes up room,and is unimportant/repetitive. Any tips on what brokers or big companies like to see on a new agents resume? Is there a specific layout or skills I should include? Thank you!! [link] [comments]  |
| What Impact Does Running a Business Have on Your Homestead Exemption? Posted: 01 Sep 2019 08:16 AM PDT My sister recently registered her business as an LLC using my stepfather's home address. What impact, if any, would this have on his homestead exemption? My mom asked me, and while I think it will have no impact, I don't know for sure. When I tried to research the issue, the only qualification that kept popping up is that the home must be the applicant's primary residence. The two issues seem to be unrelated. [link] [comments]  |
| Posted: 01 Sep 2019 02:06 PM PDT Hello! I am 18 years old and I have 40k in the bank! I want to enter into the real estate world and begin flipping houses. I live in LA, but I know LA is not a good place to start real estate investing. So I would like to begin investing in Huntsville Alabama. My question for you guys is, how do I spot a good deal? Since I currently live in LA with my parents I can't really travel to Alabama that much, so I want to make sure that I don't go down there for anything. My second question is, is 40k enough to begin flipping? or should I grind for a few more months and get some more financial capital? I'm going, to be frank, I don't have very much experience in this subject so I am really depending on some help. Thank you! [link] [comments]  |
| Posted: 01 Sep 2019 01:32 PM PDT First time selling a home. Closing is on Tuesday. My question is how does the taxes work on the equity you receive after everything is done? I am in Louisiana [link] [comments]  |
| Advice on selling a porperty abroed Posted: 01 Sep 2019 01:23 PM PDT I'm trying to sell a property in Honduras from Germany. I'm not sure where to start. I've gone to some real estate agencies here in my twon but they pnly operate locally. Thanks in advance :) [link] [comments]  |
| How to create a strong cash offer Posted: 01 Sep 2019 01:22 PM PDT I went to see a house available as an estate sale that is sold in as-is condition. It is everything I have been looking for and in my price range. I was told that there are other offers. In our area, septic inspections are strict so people often have issues with trying to get financing when a seller isn't able to replace it. I am planning on offering the full amount plus slightly more to make it an even offer amount in cash. Unlike other homes I've seen, there were no issues that stood out to me. I am meeting with the realtor tomorrow to make the offer. This is my first time with a cash offer and want the offer to have as much of a chance as it can without going over my budget. I don't have much experience with contingencies and would like to get some ideas before meeting tomorrow. My thoughts on contingencies are: 1) I don't want to take the risk of waiving the home inspection. My main concerns are foundation issues (slight slope in hallway) and mold issues (no moisture issues that I could see, but my son has respiratory issues). I am concerned that if there are similar offers as mine, the seller may pick someone with who waives the inspection. Is there a way to add a statement saying that you understand that the septic will need to be replaced, but will accept any major repairs needed as long as they don't exceed $50k? 2) Is 5 days for a home inspection a reasonable turnaround time? 3) I plan on waiving the septic inspection. The septic had a manhole cover that appeared to be a newer system and not original to the house. The seller states the previous owner did not experience issues with the septic. Cash sales do not require septic inspections. I plan to live there until an issue arises and then front the money for repairs/replacement. If it is inspected at the time of sale, the septic company is required to report it to the town. 4) Would a 14 day close be possible? I do not have the cash tied up and can provide the funds immediately. Is there a clause that could be added saying something to the effect of, "14 day close, unless home inspection requires further specialist inspection, such as a structural engineer? Are there any other things I may be missing to help when submitting an offer? [link] [comments]  |
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