Disagreement with agent on repair negotiations Real Estate |
- Disagreement with agent on repair negotiations
- Office thermostat broken, landlord wont replace, office fluctuates from 62F in the AM to 82F by afternoon. What are my options?
- AITA for making my whole block change street addresses?
- Is it possible to buy a condo/apartment for 5 grand in Manhattan NY?
- Mortgage company coming for payback
- No movement in Maine, looking for next steps.
- Non-transferable Appraisal
- Seller promised to have the house vacant before closing but now wants to set up escrow
- [Need Advice] Bed bugs & Black mold - Terminated Lease - How do I get my money back? - In Flordia.
- Question to realities: renting with bad schools
- What would you do? (New to the Business).
- Radon test came back high
- Looking for property boundaries
- First time home buyer getting discouraged
- Why only upload 3 pictures of the exterior?!
- Second Home taxes?
- How to ensure property manager is incentivized to minimize maintenance / repair costs?
- How much to offer?
- How normal/reasonable is this experience with a developer for new home construction?
- Real Estate Agent Communication Expectations
- VIDEO IDEAS?
- Closing on a bank holiday
- Who pays for the Certificate Of Occupancy?
- books?
- Real Estate Agent not getting commission??
| Disagreement with agent on repair negotiations Posted: 30 Sep 2019 04:53 PM PDT We are selling in a hot market in VA. We got several full price offers 2 days after our home hit the market. We picked the better offer and the buyer scheduled their inspection. The inspection came back with quite a few things which we expected for our price point and age of the house. The buyer started the repair negotiation with one large item they want and a credit for some smaller items. Ok great. So we come up with a counteroffer we want to present. We want to counter with the full credit they are asking for but no to the big repair, hoping we can meet in the middle. Our agent disagrees and is refusing to present our counteroffer. She keeps repeating we need to offer them everything they are asking for. We've been arguing about it with her for days. I just want to present my counteroffer and see where it goes but the agent is refusing to present it, repeating that we need to honor all of their requests. I'm honestly baffled and I don't know what to do. This is a new agent who we are friends with and I'm now regretting doing such a large financial transaction involving a friend. I just want to negotiate with the buyer! I don't understand how it would make sense to start a negotiation by saying yes to everything they are asking for? Edit- Her reasoning is no one else will want the house since it "has issues". Which obviously I disagree with considering the buyers are open to negotiate and we had multiple offers. [link] [comments]  |
| Posted: 30 Sep 2019 04:42 PM PDT As the title states, my wife rents an office, and the thermostat is broken, so it freezes the office over night but then turns off during the day and lets thw office overheat. This has happened at least 10 times in the past two months, and my wife has emailed, called, and texted the buulding manager with pictures of her digital thermometer showing 80-82F. He keeps delaying replacing it. What are her options? Location - Colorado Springs. CO Thanks. [link] [comments]  |
| AITA for making my whole block change street addresses? Posted: 30 Sep 2019 06:28 AM PDT TL;DR: Lot next to mine sold, and it has the same physical address as me. There isn't room (in the numbers) to add another address, so the town's solution is to renumber all the houses on my block. Longer Version: We bought our house 2ish years ago - from a person that owned our house and owned/lived in the house next door. She recut all the land to make a full lot in the middle - basically, there were two biggish lots, and now there are three small lots (.33, .33, .4). She sold her home about a year ago, and has been trying to sell the center lot. We wanted to buy it, but just couldn't make it work. It did sell. When it was sold the real estate listing was 105A, the land record is 103. We're 103 - and the next house down, on the other side lot, where the seller lived, is 105. I spoke to the person in the zoning/planning office about petitioning to get the number changed. She was very familiar with the lot - and when it was cut into a separate lot, she made a proposal to the town manager to change all the numbers on the block -- reasoning being for 911 and emergencies, most emergency systems have trouble recognizing a letter in an address. The solution was to renumber the entire block. Also, because the post office doesn't like to re-assign existing addresses. The town manager said no - because he didn't want to upset all the people on the block that would have their numbers changed. If I continue to press to get that number changed (so it isn't mine), the solution is to petition the town manager and all councils that will listen that the entire block needs to be re-numbered -- am I the asshole for doing this? There are about 12 to 14 houses on this block, and they were built as far back as the 50s. [link] [comments]  |
| Is it possible to buy a condo/apartment for 5 grand in Manhattan NY? Posted: 01 Oct 2019 03:58 AM PDT I know it is a silly question but I am not from the USA and from what I've seen, it seemed kind of realistic? [link] [comments]  |
| Mortgage company coming for payback Posted: 30 Sep 2019 06:25 AM PDT In 2004-2005 I had a rental home go into foreclosure. No big deal the bank just reclaimed the property. Fast forward to today. I received a letter in the mail stating that a mortgage company is requesting that I pay 15,000 for the property they purchased. I'm in Georgia and can't find anything on this, any help on if I am obligated to pay it will be helpful. Thank you. Edit: Spelling [link] [comments]  |
| No movement in Maine, looking for next steps. Posted: 30 Sep 2019 04:22 PM PDT My family had to move to another state with roughly 45 days notice for a great job offer for both my partner and I. We have our home in mid coast Maine listed for about 5 weeks and only two showings. It's priced in the middle of our comps but I'm concerned that our agent isn't doing anything in the way of promotion. She says she's doing all she can, but I haven't seen anything. We are living the in the new city and paying the mortgage on a house we aren't living in. Short of dropping the price, which would cut into already meager profits (because the market in Maine sucks), is there anything I can do to nudge for a sale quicker? Suggestions for the agent? [link] [comments]  |
| Posted: 30 Sep 2019 06:11 PM PDT Hello! I'm deciding between two lenders for a refinance and one lender already ordered an appraisal for me. The other lender is aware that an appraiser has come to see my house already however they say they won't accept the report. Is this common? [link] [comments]  |
| Seller promised to have the house vacant before closing but now wants to set up escrow Posted: 30 Sep 2019 01:27 PM PDT In august, I found a 2 family house I wanted to buy but there were tenants in both units. My realtor told me the tenants have no lease so once the contract is signed, they will be given 30 days notice to move out. I went ahead and made a down payment and signed the contract. My agent called me last week to schedule a walkthrough inspection today because the property should've been vacant from yesterday. Now he's telling me the tenant in one of the units was unable to move out because she is looking for a Co-op. Like seriously. I got angry and started threatening that I will walk away from the deal because the contract clearly says the property will be delivered vacant and it just seems like the seller and my agent are playing some games. Bear in mind, the seller's agent and my agent are from the same realtor agency. The mortgage broker was also recommended and preferred by the seller to expedite the process. The only unbiased person is my lawyer; although my realtor also tried to convince me to use their in house lawyer of which I refused. Here's the solution my realtor suggested. I should contact my lawyer and ask him to set up an escrow with the seller. The seller will put in a negotiated amount of money in escrow that will cover the rent for some months. He said the money will be deducted monthly and it will be higher than the current rental for the unit but he's yet to tell me exactly how much they pay but I figure it's on the low side. I'm very concerned about this setup because I live in one of the boroughs of NYC with very pro tenant laws. This is my first house and I'm afraid of getting involved in something I will regret later. I asked my realtor what will happen if the tenant is still living in the building after the escrow money is exhausted, he said I can go after the seller but he doubts they will still be living there after 2 months because they wouldn't want an eviction on their record. Please what do I do? I like the house, and it took over a year house searching. Should I just walk awa? The tenants seem like responsible people working in the healthcare sector and the only reason I know this is because I saw some related textbooks during the opening house. However, the realtor wouldn't tell me exactly how much they are paying, what they do for a living, how long they've been there or any reasonable info. Moreover, I paid almost full asking price with the expectation that the house will be delivered vacant. [link] [comments]  |
| [Need Advice] Bed bugs & Black mold - Terminated Lease - How do I get my money back? - In Flordia. Posted: 30 Sep 2019 08:15 PM PDT Hey Real Estate friends, Renter here and because of the following situation I am, with out a residence, I've been living in hotels for the week. Recently my realtor let me stay in an empty extra apartment, all of my stuff is in storage again and I'm losing sleep and work over this.... And I'm scare I may never get my money back, or only a measly portion... And granted with recently starting a new job (while being 27 and broke) and recently moved to from NJ to S.FL... And with an account dwindling down to zero... This 4K they are holding from me is practically all I have left until my next paycheck (so long as I'm not fired for being unable to preform during all of this). — — — So here's the situation in short: — — — Black mold found. Condo unlivable. Owner won't fix and we agreed to terminate the lease. I still have the keys. They have the money. How Do I get my money back. And what would you do if you were me? ——— Here's what I could find in the lease in regards to termination of lease and refunding money: Google Doc ——— ——— Here's the full story: ——— Private owner. In HOA community. South Flordia. In about 2 weeks, I moved into the apartment, found bedbugs [got exterminated], then found black mold all through out the kitchen and in a bathroom... Now this isn't connected. And yeah newb mistake. took me a while to figure out where the smell was coming from, but in my defense the house was filthy when moving in so I was assured it was just stuffy from not being lived in for a month.. Anyways, I got a mold inspector to come in for a free assessment. Estimate report came back and turned out to be around 6k to take everything and clean it up. Sent report to the owner. The owner and her grandson have been stubborn and basically believe I am to blame or want me to adimt fault so they can wash there hands. They say stuff like, "It wasn't like that when you moved in"... but they are from NYC... and apparently haven't been to the apartment in years from what everyone is telling me (hoa, realtor, and even their local relative). When I told the grandmother (owner/landlord) what the estimate was, she said, "I can't do this anymore, I'm not fixing it". So we agreed (over the phone) that I'd move out and she'd give me back my money. Told the grandson (through text) that I had the keys, and we could exchange the keys for the check through their real east agent. Then, I sent by certified mail a letter which states the agreement we made. The request for returned funds. And the logistical info we went over (keys for check by way of realtor). At this point, I'm skeptical but think I'm going to get my First, Last and security = $4,050. — which doesn't even being to cover the expensive s of moving in and out in 2 weeks. But, here's where the trouble begins... The grandson is the main person I talk and correspond through email as the grandma/owner is 85 yr, supposedly recently sick (but she's old so year), and getting some work on her foot. The grandson told me they only got like $2k and said, "I don't know where the rest of the money went but I'm not going to give you 4K if I don't have proof". I'm thinking : Like what?! How do you think I got the keys???? But, he persists and I send him copies of the check and the escrow stub (totals the first, last and security). He's saying "my grandmother received less than 2k. If the differences turns out to be commission we are going to split that". ——— What would you do if you were me, and how would you get the money back? [link] [comments]  |
| Question to realities: renting with bad schools Posted: 30 Sep 2019 08:08 PM PDT Hey everyone. I'm a first time home buyer buying new construction. The development is great but the schools are subpar. I'm curious as someone who may be putting up the home for rent or sale within 5 years (military) is this a death stroke? My thought process is the schools don't bother me because my kids aren't old enough but I think the future tenants or home buyers may frown upon it. There's almost no other homes in our price range and no rental properties available. The most practical thing is to buy knowing that the schools aren't the best. Advice?? [link] [comments]  |
| What would you do? (New to the Business). Posted: 30 Sep 2019 08:04 PM PDT So, I'll receive my license in a month for CA, and I've been lucky enough to become a part of an amazing team already. I help them with other things aside from matters requiring a license, and I provide value where I see fit. I was recently invited to a meeting with my county's board of realtors(we're in the Bay) due to my broker, and I have the chance to possibly become the vice chair of their young professional's network. That would mean I would become chair by 2021. Should I do this for business and connections? [link] [comments]  |
| Posted: 30 Sep 2019 03:49 PM PDT Radon test came back at 12.7 pci/l. Is this something to be considered about, it this an expensive fix? Should the buyers ask the sellers for credit because of this? [link] [comments]  |
| Looking for property boundaries Posted: 30 Sep 2019 07:27 PM PDT |
| First time home buyer getting discouraged Posted: 30 Sep 2019 06:49 PM PDT Hey everyone, I've been trying to get into the housing market for months now. I've been pre-approved from my bank and have a big down payment saved. I spend my entire weekends going to open houses, finding a house I love and putting in an offer normally 20-50K over asking price. Yet I keep losing to people who have lower offers but have "firm" offers. My only condition is the acceptance from my bank, my agent attaches my pre-approval as documentation too. I'm starting to feel like I'll never find a house. There's always 8-10 offers and I lose every time. How do first time home buyers do it? [link] [comments]  |
| Why only upload 3 pictures of the exterior?! Posted: 30 Sep 2019 11:59 AM PDT In a coming soon, I get it. Otherwise what's the point in not sharing at least SOME shots of the interior. It's begging for a wasted trip, no?! Especially if the financials make sense for investors, "any more pictures?", IF THERE WERE MORE I'D SHARE THEM WITH YOU. Also 9/10 not worth the time to go and take your own pictures. Just lazy marketing, no? [link] [comments]  |
| Posted: 30 Sep 2019 10:03 PM PDT My parents used loaned money from me and their cash to buy a home, cash only. We put the house in my name, a mistake at the time we learned. We are getting a lawyer to transfer ownership into their name, but can I take advantage of the write offs for 2018? The house is in my name for 2018 tax year. They lived in the house "rent free" while they did major repairs. These repairs I helped pay for. It's their primary residence, their first home is in their name still where other family members live. What do I have to say to get tax write offs on the repairs and property tax? I run a small business LLC, so writes offs for home repairs (nearly $15k) and interest during 2018 was nearly $8k for the borrowed money on home repairs. It could be treated as a business expense and I could be a landlord? If family is there, is it personal use and repairs can't be written off? Eventually the house will be sold once repairs are finished by my father as it was a gut job and then a ton of land/water/moisture issues. Could I claim the home repairs were equal to rent prices and even though they didn't pay me it even out through me spending money on repairs. [link] [comments]  |
| How to ensure property manager is incentivized to minimize maintenance / repair costs? Posted: 30 Sep 2019 09:31 AM PDT I've been dragging my feet for years on buying a rental property, mostly because I've always thought the "right way" to start of is to do all the work myself, and I haven't been willing to dedicate the time. Recently I've been encouraged to jump in and rely on property management companies. My main concern is that they have no incentive to minimize costs for any maintenance. 1.How do I know they aren't hiring out work to a super expensive plumber they have a kickback relationship with?
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| Posted: 30 Sep 2019 03:51 PM PDT I'm in the market for a house and I've been losing bids. I can't see how to win. My recent bid: list price was 249,900. It went into a bidding war and I had to make my "best offer." I offered 257,500 and I still lost. I thought by going above, I was doing okay. I figured no one would go that high since it's so close to 260k. Seriously, who goes over list by over $10k on a regular middle class house? So, is there some method to deciding what to offer? If the seller wanted 260k, they should have just priced it that high from the start. I understand taking as much money as you can get, but that takes away any control had by the buyers. It just seems like list prices mean nothing. If that is true, how will I ever know what to offer? [link] [comments]  |
| How normal/reasonable is this experience with a developer for new home construction? Posted: 30 Sep 2019 02:27 PM PDT Hello everyone, I apologize in advance for the wall of text, but I was curious how "normal" my experience has been so far compared to what it "should" be. I am looking at purchasing a new construction "template" home from a developer in my area. I will skip over the /r/personalfinance stuff and try to keep my questions/experiences grounded within the scope of this subreddit. Starting from the beginning: I prepare for my sales appointment by meeting with my realtor (who regrettably has not done much new construction) and we talk about another client he represented at one of these sales appointments. I ask if I can review the purchase agreement with my attorney in advance, any HOA rules, design options etc prior to the appointment and am told that these are not provided in advance. Anyway, so I show up to my appointment, talk about some lot and house options, try to talk them down on one of their "pre selected" homes (Where design options like tile or lighting or paint are already set in stone) as a few of the options put it out of my price range. Sadly, they say they can't budge because the design options purchase orders are already placed. During this process I ask for any information about the landscaping etc to help me decide if I want north or south facing etc, but again, no info provided till I select something. After about an hour we settle on a different location and floorplan, and move to the design process. This was pretty straightforward, picked some colors, and then come back to work on the purchase agreement. The agreement was ~30 pages, although I can't comment how that compares to other purchases as this is my first home purchase. This part took about 4 hours at a speed of me getting a page, receiving a brief explanation of what I was signing, and then a quick skim by myself before signing. I don't think I could have gone any faster, but by the end of the appointment, its clear they don't expect anyone to read these documents as my realtor clocked his last deal in around 2-3 hours. (And most everyone else I heard from the grapevine did not take much longer either). Finally, after everything is set up and signed, I get a thumb drive with some additional reading and was told the agreement will be ratified early next week, then sent to me. Next week comes around, I hear it was ratified, but its never sent to me. Any additional questions I came up with such as discrepancies with the options sheet and what was promised at the meeting was met with silence or "we will send a new one later" (To their credit they did, but the next iteration was also wrong, citing that the other published document they have for default options is what I should expect, and the wrong items autofill due to the autofill in their software.) Eventually its the last day I can get out of the purchase agreement without penalty, still no copy of the agreement. I call my realtor who tries to get one, and he does not succeed. I decide to give them the benefit of the doubt and 10:30 that night I do get a copy of the agreement. My next problems stemmed from all the questions I asked, such as "do I get building plans with the house" which I was told no, as they are copyright. I next asked if I can have my own inspector during various stages of the build and was told no, the county will inspect at each stage, and they don't want to delay construction waiting for additional inspectors. Same for the final inspection, they say it will be me and the super, anything I find wrong I am supposed to go through the warranty on the home rather than delay the closing. Personally this sounds way worse than I was expecting my first home purchase to be, but the market where I live is all messed up, and these are some of my only housing options available to me, but is this aggravation normal or are these people throwing up a ton of red flags? If they are, is there anything I can do about it? I guess at the end of this random rant, my questions are as follows: Is this standard for a developer (I know this is not "real" new construction, so I should not expect the same level of service, but this still seems poor)? How concerned should the comments about inspectors and final inspection make me? What is likely to happen if I play hardball and demand some money stays in esgrow pending fixes or I walk? Am I overreacting to all this? I won't have a house till next year, but the rate at which these people have been ignoring my questions, not providing info that a simple look at the records they gave to the county would have answered (HVAC models etc), and general secretiveness on things that don't really seem like they should be public is somewhat annoying. [link] [comments]  |
| Real Estate Agent Communication Expectations Posted: 30 Sep 2019 04:17 PM PDT The long of it, the agent is selling our house and helping with hunting. She gets 3% on each. The house has been on the market for a month. She's prompt with email responses and we have flyers and are on the main websites. She hasn't sent any other reports and the only real responses about selling are that she's not sure why it's slow. She thinks open houses are a waste of time. Is this normal? On the buying side, my wife and I went to an open house, fell in love with the house and asked to make an offer. Our agent responded that she showed other clients the house and they didn't like the neighborhood. Are we wrong in thinking that's rude? We think it's charming and saw that there's 3 or 4 other houses getting renovated and a few for sale in a similar price range. We did make an offer on contingency and they countered saying they won't pay our agents fee (they're FSBO) but they knocked 5k off our ask if we wanted to cover it. Our agent was very dismissive of this but we're fine with covering her fee (comes out to about 10k on this house). I guess my question is, did we make an enemy of our agent by agreeing to cover her fee instead of the seller covering? We have to sell our current house for the down payment, so we're worried our agent is half assing our sale since we basically went against her wishes every step of the buying process. [link] [comments]  |
| Posted: 30 Sep 2019 07:48 PM PDT A friend of mine whole runs a video production company has agreed to make me a video as a gift. I have 2 hours of shooting. However, I don't know what to make the video about. Should I make it a lifestyle video, an educational video, something else? Realtors, if you had one free professionally produced video... What would you make it about? [link] [comments]  |
| Posted: 30 Sep 2019 07:28 PM PDT First time home seller, just trying to make sure this is okay. We've had our closing set for 10/14, which is Columbus Day. Today, my realtor called and asked how I felt about still closing that day because the bank won't be open. The money would be released the next day. I asked if she saw any downside to this and she said no, so I agreed. Now I'm wondering if this was smart to sign over my home before getting paid??? Could this result in anything bad for me? The buyer isn't receiving the keys yet because we have a 7-day contingency after closing for me to vacate. TIA! [link] [comments]  |
| Who pays for the Certificate Of Occupancy? Posted: 30 Sep 2019 03:40 PM PDT Hello, I am about to move into an apartment in New Jersey. The property is owned by a property management company. They are asking for two money orders, $150 and $45 to be paid to the township so that the place can be inspected. I was just wondering if this is usually the tenant or the landlord's responsibility to pay. Thanks! [link] [comments]  |
| Posted: 30 Sep 2019 03:36 PM PDT hey 21M here exploring career opportunities and i'm taking an interest in the possibility of being a real estate agent. Are there any good books on the topic you'd recommend? i'm starting from scratch here so anything that would be a good first book to learn or get the basic gist of the business would be appreciated, thanks! [link] [comments]  |
| Real Estate Agent not getting commission?? Posted: 30 Sep 2019 07:03 PM PDT We are the homebuyer and we are concerned that our real estate agent isn't getting commission on the sale. Nothing is signed, so there's time to make changes. Apparently the seller wants to move out ASAP due to having a sick parent. It's been on the market for 16 days, ok- so, barely any time. So they've freaked out and lowered the price already and to make up for it, they're taking the commission from the listing agent and our agent. My husband and I are super uncomfortable with this. Our agent has worked hard. I text him at all hours of the day and he's been super kind. He's semi retired and he showed us this house knowing before hand, that he wouldn't get commission. (We obviously had no clue). We love this house and we want to put the commission, at least for our agent, back into the contract. Can we do that? Can we do that with closing cost? We're doing a special no down payment loan for "modest income" families. We qualify for a second mortgage that we don't have to pay back as long as we live in the house for 15 years. It could cover half of this commission... Is there anything we can do to help our agent? We're upset because we work hard at our jobs and we think it's only right that he gets paid for his hard work. Anything at all that we can do? Edit: interesting to note that they took out a mortgage and six months later, refinanced and their mortgage went up $5k. What the heck? They seem irresponsible with money or what's going on? [link] [comments]  |
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