Exploratory Questions to Ask my Realtor Real Estate |
- Exploratory Questions to Ask my Realtor
- Tax calculation - how does it work?
- [USA] Are Prices Increasing , Flat, or Decreasing In Your Cities?
- Sellers Counter Offer is identical to my buying offer, just without “conditional financing”???
- Pre-approval letter vs getting pre-approved
- Advantage to having MLS access over zillow/redfin/etc?
- How much would you pay this realtor?
- Buying first home and many have offered the advice that it is a good investment to intentionally max our spending limit. Why is that?
- Seller (builder) wants to delay showing us appraisal
- Real estate vs stocks?
- Home sold. Am I okay to take the hanging bathroom mirror above vanity? It is not fixed to the wall
- How Much Does Radon Mitigation Affect Resale
- Appraisal or Inspection first?
- When is it worth it to form an LLC? (flipping)
- Is a 100 unit detached condo HOA too big to be self managed? (Austin, TX)
| Exploratory Questions to Ask my Realtor Posted: 25 Oct 2019 04:24 AM PDT I'm in the process of looking at a few houses. Some good ones have just popped up on the market. A few others have been sitting since the spring; overpriced and not dropping in price. Is there anything I can get my Realtor to check in on with regards to why the owners are selling, or how motivated they are to sell? I'm in a depressed market, so overpriced houses ($/sqft higher than a new build) are sitting for double-digit months. I don't want to do viewing after viewing only to find out the owners need every dollar they can get and are willing to live in the house until it sells for full price (which may never happen). [link] [comments]  |
| Tax calculation - how does it work? Posted: 25 Oct 2019 03:16 AM PDT Let's make up a hypothetical scenario where the numbers are easy. I make $100k a year pre-tax and pay 10% federal tax and 10% state tax. I also have a rental property that generates $10k a year pretax. Let's assume no deductibles. It's worth $100k and property tax is 1%. What is my total tax payment, all inclusive, for the year? Would be great if you could show your calculation. [link] [comments]  |
| [USA] Are Prices Increasing , Flat, or Decreasing In Your Cities? Posted: 24 Oct 2019 12:35 PM PDT I made a post similar to this a while back so figured I'd throw up another to see what the average Joe is seeing in your respective markets and sub markets. Fairly open topic so feel free to post any observations. NYC, SF, LA, Seattle, Chicago, Denver, Seattle, Austin, Nashville, and others! Last I've read I saw the higher end (800k - 1.2m) in SF and NYC are flattening out and in some neighborhoods actually decreasing [link] [comments]  |
| Sellers Counter Offer is identical to my buying offer, just without “conditional financing”??? Posted: 24 Oct 2019 05:33 PM PDT They essentially returned my offer and said: "How strong is your client in finance? I'm pre approved for well over the value of the house and will have no issues with the financing. However them sending me that seems like a huge red flag. Like what if my mortgage lender decides that they don't want to finance the house based on appraisal value leaving me without a mortgage, and without my offer deposit? Am I over thinking this or should I be concerned as I am? [link] [comments]  |
| Pre-approval letter vs getting pre-approved Posted: 24 Oct 2019 07:51 PM PDT What's the difference? My realtor said he could get us a pre-approval letter in 24 hrs and didn't need anything but our credit, and that would help us when trying to put an offer in. However, I was thinking of pre-approval as the process of putting in a mortgage loan application and getting pre-approved for a loan that requires much more paperwork. Then being able to shop around within a certain period with other lenders. My other question is: how can you fill out an application for a mortgage loan before you know how much your mortgage will cost? Like if you're still shopping around and don't know exactly how much your mortgage will be? Thanks for any and all help, I'm a first time home buyer. [link] [comments]  |
| Advantage to having MLS access over zillow/redfin/etc? Posted: 25 Oct 2019 12:37 AM PDT Based on the fact that I can't find an answer I assume I'm using the wrong search terms. Sorry if this has been answered elsewhere and I missed it, I've been searching for a few hours now and I can't get a definite answer. Considering becoming a licensed broker solely for MLS access. I will buy one house, hopefully for the rest of my life. Due to various disabilities I would rather do that than work with other human beings, or rely on them if I can avoid doing so. My background means that the state exam is not a problem. My question: will MLS access get me anything I can't see on zillow, trulia, redfin, etc? Nicer pictures, more information, listings not on the aforementioned data aggregation services, faster updates of available properties, a less cluttered interface, a data feed I can do custom code on without crawling it before hand, anything? I will never be a practicing real estate agent, this would be a single use license. Like that one time I became a general contractor in order to get insurance coverage on a remodel I was doing on my own house. Thank you for your time. [link] [comments]  |
| How much would you pay this realtor? Posted: 24 Oct 2019 09:18 PM PDT TLDR: Buyers agent brought an offer to my seller friend on his unlisted property. No listing agreement no commission agreement, no offer of compensation anywhere. And then a few days before the deal closes, sends a commission bill to my friend. Friend is asking if he has to pay that or can he try to negotiate it and potentially delay his closing. My friend in New Jersey is going through this situation right now. He had a listing agreement with an agent, agent did the bare minimum and the property did not sell during the listing period. My friend never relisted with that agent or anyone else, but they still communicated and the agent ended up bringing an offer a few months after the listing agreement ended. At 1 point there was a brief conversation about commission, and my friend was saying that if he brought a buyer they would give him 1-1.5%. He said no he would only accept 3%. The point of offering so much less commission was, that the offer that the agent was planning on presenting, was significantly lower then the listing price. And it felt like he was just trying to get the sellers to take whatever 1st offer he presented them. They also were never happy with his work or lack of professionalism. So that conversation ended with no agreement, nothing signed, and that was the end of it. The agent ended up formally presenting the offer with no mention of compensation, and after some back-and-forth the sellers agreed to the deal. They are a couple days from closing, and they get a commission bill from the agent's brokerage for 3%. My friend is asking me if he has to pay that even though they never agreed to a number. The realtor in me says yes the guy brought you a buyer hes earned something. But then the broker in me says, there's no listing agreement, there is no commission agreement, there is no offer of compensation for this deal, and it wasn't active on the market when the deal was put together. So I would offer him whatever my friend thinks is fair. I think that if it went to arbitration, the agent would have a hard time proving they earned the commission, when there was nothing in writing, and there was nothing agreed upon for this specific deal. But he has a case because he did bring a buyer and it looks like it is going to close. Would you fight paying the commission? [link] [comments]  |
| Posted: 24 Oct 2019 08:58 PM PDT Some background: the area we are looking has very limited choices for houses in the 350-450k range (3-4 bed, 3-4 bath). There are many houses available in the 575k+ range. We planned to spend at the most 500k on a move-in ready home, but our loan approval can get us up to a 585k home. When chatting with work acquaintances or even just meeting someone new at a restaurant tonight, I keep hearing people suggest that we max out our spending limit on our first home. That it will "hurt" the first couple of years, but it's "worth it". Is this a general consensus among real estate investors? Thank you for your insight! [link] [comments]  |
| Seller (builder) wants to delay showing us appraisal Posted: 24 Oct 2019 04:15 PM PDT I'm not sure why they want to do this, they say they couldn't get anyone out there until the house was 90% complete and that didn't happen till a week ago. The problem is that in our state the buyer is required to get a copy 3+ days before closing, as closing is on Wednesday, 4 business days away, they want us to waive this right and just see the appraisal at closing instead. It looks like if we dont sign it closing might be delayed, are there any advantages to not signing it? [link] [comments]  |
| Posted: 24 Oct 2019 05:54 PM PDT Stocks historically have returned similar if not more than real estate. There is literally no effort to it, either (index/mutual funds). Truly a passive investment. Is the big drive with real estate the leverage you can take and the tax benefits? If you're not leveraging/borrowing, the returns seem to not outweigh the hassle. Am I missing something? I've been researching commercial real estate extensively the last month or so, and it seems that you need to borrow to make the math work in your favor beyond passive stock market investing. Id love to see an in depth article that breaks this down beyond the surface-level analysis you find in a quick google search. Thanks! [link] [comments]  |
| Home sold. Am I okay to take the hanging bathroom mirror above vanity? It is not fixed to the wall Posted: 24 Oct 2019 10:23 AM PDT Sentimental mirror my wife finished. Hangs like a picture. From what I can tell we can take it. Not specifically called out in contract and hangs like a picture. Thoughts? The contract does state bathroom fixtures, but from my research this doesn't qualify as a fixture. [link] [comments]  |
| How Much Does Radon Mitigation Affect Resale Posted: 24 Oct 2019 11:59 AM PDT Putting an offer on a home where the sellers are going to install radon mitigation. Five, Ten years down the road - what does that do to the home's value? [link] [comments]  |
| Appraisal or Inspection first? Posted: 24 Oct 2019 11:36 AM PDT So I'm a first time homebuyer making my second stab with an accepted offer. My offer was on the high end of comps as another offer above asking went in with mine. Wanted to be competitive and all that. I only ended up going 5% over asking after looking at the data though. So I'm wondering if I need to move forward with appraisals before inspection? Thanks for the help in advance! [link] [comments]  |
| When is it worth it to form an LLC? (flipping) Posted: 24 Oct 2019 11:53 AM PDT I'm about to sell my first flip and wanted to see if anyone had advice on forming an LLC or if I should wait to do it. When the tax laws changed, almost all the resources you could read on the subject were outdated. [link] [comments]  |
| Is a 100 unit detached condo HOA too big to be self managed? (Austin, TX) Posted: 24 Oct 2019 10:46 AM PDT I searched the forum and found a little info, but mainly dealing with smaller property sizes. We have a 100 unit HOA, where they are legally defined as condos, but are all detached single family dwellings, and the owners are responsible for all exterior maintenance and insurance. The HOA provides no services to individual properties, yet they are still classified as condos. We are on a 'loop' off the main road thus all roads in the neighborhood are private and owned and maintained by the HOA. We are planning on replacing the management company as soon as we take control of the board (just finished construction of the neighborhood) and some people are putting forward the idea of self managing. I'm not as much worried about bills getting paid, but mainly other things like all the docs needed when buying / selling, having contacts for doing major repairs, or mainly just legal protections as residents. I'm sure we'd have to get a real estate attorney involved to draw up contracts if one of the residents wanted to run things, but are there big concerns to be addressed or at least be aware of? Side note - I swear I found an acronym before to describe our community where we own the land and are responsible for maintenance / insurance on the entire structure and property, but can't seem to stumble across it again. Is this differently defined than a normal 'detached condo community'? Prior threads I found: https://www.reddit.com/r/RealEstate/comments/4z3uph/risks_to_look_for_in_a_selfmanaged_hoa_when/ https://www.reddit.com/r/RealEstate/comments/47xvv1/texas_specifically_houston_can_a_condo_hoa_be/ [link] [comments]  |
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