FTC halts ‘misleading’ real estate seminars with HGTV stars Real Estate |
- FTC halts ‘misleading’ real estate seminars with HGTV stars
- I just had the most disrespectful potential buyer.
- We all hear about success stories, but what are your failures/learings?
- High Property Value Issue?
- Sellers and agents, what is the weirdest thing a buyer has asked you for when making an offer on a house?
- Pros & Cons of Buying in a College Town...
- Would I be a complete idiot if I buy this house?
- Financing question
- Seattle ADU
- Switching over Utilities with Landlord still in property
- Best transition Jobs to being a real estate broker
- Builder quality
- Stuck in bad situation I don’t know what to do.
- List empty or list staged?
- Appraising an ADU
- Q to Assessors: Lot Size reported much smaller than Building Sketches and Subdivision Maps: cause?
- Firing a friend of a friends realtor, what is etiquette?
- Buying from builder: Contract
- Selling stocks to purchase house
- How should I decide how much to offer on a home?
- First time home buyer
- 1031 before owning a rental for 12 months?
- Future Career
- Plywood Basement floors
| FTC halts ‘misleading’ real estate seminars with HGTV stars Posted: 06 Oct 2019 07:39 AM PDT |
| I just had the most disrespectful potential buyer. Posted: 06 Oct 2019 03:21 PM PDT We are the sellers. Our MLS notes say we need 2 hours notice for a showing. We have pets and toddlers and I am pregnant, it's very difficult to get the house ready and find a place to take the animals. Today our listing agent said someone is desperate to see the house in an hour and a half. The problem is that we had an out of town trip scheduled to see an old friend for the last time before we move out of state. I told my listing agent that the house isn't ready and I still have to get ready to go out of town and have nowhere to take the animals and to ask if she could do tomorrow. Buyers agent said no only today could work and she really needs to get in in an hour and a half. My agent offered to stay and make sure the animals were not in the way and the buyers agent said absolutely not that my agent cannot be there. So we arranged pet care and cancelled our trip because this woman was desperate. I told her to come at 2 pm and no earlier because we needed to get it completely cleaned. We watched this buyer on our security cameras drive up to the house 15 minutes before 2 despite being told not to (luckily we had left just before), chit chat in the driveway, say no she's not interested, and leave. She didn't even go inside. Our agent made it very clear that it was a huge ordeal for us to schedule this showing and that we would only do it if this woman was serious. The buying agent apparently didn't give a shit about any of that. Then the buyers agent ignored our request to close the blinds and windows and just left with her client. I'm 6 months pregnant, I just slaved scrubbing my home, I cancelled a very important trip, and I rushed my whole family and our pets out of the house to be blatantly disrespected. I've been crying for about an hour because I will never see my friend again unless she flies out of state to see me which is very difficult for her. I told our listing agent that the buyers agent is forbidden from working with us from here on out. I am just shocked. Edit: Turns out the buyers agent is equally pissed. The buyer begged to see like 10 homes saying they wanted to make an offer ASAP and they were desperate. They all but forced their agent to insist to see all the homes despite not looking closely at a single listing, then upon driving up to all of them immediately said no and that they're overpriced despite all of them being priced perfectly according to comps, size, upgrades. These are all homes in nice areas. To me it sounds like she's got caviar taste on a canned tuna budget and is mad that all these homes aren't in her price range and was hoping something would change upon driving up? Idk. Her agent and people who know of her "reputation" say she's absolutely insane. I wish we were made aware before we were told she was planning to put in an offer. [link] [comments]  |
| We all hear about success stories, but what are your failures/learings? Posted: 06 Oct 2019 07:35 PM PDT I recently bought my first ever property, a quadplex that I plan to house hack. So far i owned it for about 2 months now. And it has been very stressful. Insurance required me to replace water heaters, AC went out in my unit, vacant unit, evicting a unit. At the moment I am not cash flowing due to vacancy. Just evicted one of the tenant last week and I am getting it rent ready at the moment. I am feeling a little discourage, scared, and anxious since this is all very new. I did not do a good job at my due dilegance. Like the water heaters were all too old for insurance to accept my unit. We always hear success stories. I would like to hear how everyone's first deal was and about your re-estate failure. What you learned from them and how you persevered. [link] [comments]  |
| Posted: 07 Oct 2019 04:32 AM PDT New investor. I've read that its not best to try and 'time the market' but my market (NJ) seems like its a little too on the overpriced side to invest right now (I'm looking for rentals). Maybe this is my inexperience, maybe I'm not looking hard enough/in the right place? But most properties I look at, even with BRRR, the margins are slim to none. Do I wait for an economic downturn/recession (that many people are suggesting will happen within the year) and property value to dip a little? Do I need to look in different places/harder? Is the market just competitive? What is your opinion? [link] [comments]  |
| Posted: 06 Oct 2019 04:00 PM PDT When touring a home I had made a remark to my partner about how much I liked the couch in the living room and when we made an offer he took it upon himself to have it written in that they can leave it if they would like. I find it odd to ask a stranger for their couch so it got me thinking, what other weird things do buyers ask for from their sellers? [link] [comments]  |
| Pros & Cons of Buying in a College Town... Posted: 06 Oct 2019 06:12 PM PDT Kid is expected to live there another 3 - 4 years. We are considering buying a 4 bed, 3 bath house. Estimated mortgage is $850 so 2 roommates at $500 each should cover the mortgage, a 3rd will pay utilities and a little extra assuming we don't charge a little more in rent. We can keep the house a few years past Kid's time at this college as a rental until we decide to sell. Primary home is paid so we don't have a mortgage. Is this a wise investment or bad idea? I would appreciate advice on things to look for as this would be the first rental property we have. TIA [link] [comments]  |
| Would I be a complete idiot if I buy this house? Posted: 06 Oct 2019 06:44 PM PDT I've been looking for my first place to buy for a while. I found one for 134k. Other houses in the area are going for around 170k. It's in a nice area with great schools, but it definitely has some cons. Roof is 20 years old. Additionally, it got 30 inches of water back in 2008 during Hurricane Ike. It was completely fixed up, but I've read that you should avoid flooded properties. Can anyone give me some advice? Thank you. [link] [comments]  |
| Posted: 06 Oct 2019 05:55 AM PDT I am in the process of both selling my place (small horse farm with single wide mobile home) and getting ready to make an offer on a new (to me) house (real house...yay!) I am pre-qualified for 100% financing for the full asking price of the new house. However, I would rather put 20% down. The thing is, until I close on selling my place and have the money from that sale, I don't have the down-payment for the new place. It's possible it will all work out and I'll have the money for the sale of this place at just the right time to put the down-payment on the new place. BUT, if it doesn't work out, and I decide to go ahead with the 100% financing (which is at a higher interest rate than if I did 80% financed), once I got the money from the sale of my place could I refinance by making a lump sum payment of 20+% and get the lower interest rate and smaller monthly mortgage payment? Sorry for my ignorance, just seeing what my options are. [link] [comments]  |
| Posted: 06 Oct 2019 09:21 PM PDT Hi, I am planning to buy house (Zoned as SF5000) in Seattle that has a guest suite with its own kitchen and bathroom. The guest suite opens into a closed garage. I am not sure if Guest Suite is a legal ADU. I am checking on it. Questions: 1) If I were to rent/Airbnb the guest suite, tenants will have to open the garage first and then enter into their guest suite. This is a bit weird and may result in getting less rent. Other than rent amount, is there anything else that I should consider? 2) I am planning to create an entrance to the guest suite from the backyard. Is additional permit if Guest suite is already considered a legal ADU to add a door from the backyard? 3) If guest suite is not a legal ADU, i may have to go through the Seattle permitting process. Will this also entail seperating electricity/water, making provision for separate internet connection? I am fine with charging an all inclusive (electricity/water/internet). Or is it a requirement to have a seperate elctricity/water/internet line for ADUs? [link] [comments]  |
| Switching over Utilities with Landlord still in property Posted: 06 Oct 2019 05:13 PM PDT Hey guys sorry if this is the wrong subreddit but I need some advice. It's a long, detailed story so I'll try and shorten everything up as accurately as I can. September 1st, my girlfriend and I moved into a new house which is owned by our best friend's mother. She had rented out the property before and had a terrible time with tenants so she was excited to rent to us, which we've talked about for almost a year now. She was recently terminated from her last job and told us she was going to be living with us for just a little bit until she gets a new job and can move out. A week or two ago her and I were talking and she told me that she's given up on trying to find a job. I've been uncomfortable with this but decided to give it some time to say something to see if she's REALLY given up on it. Now she just sent us our water bill from last month, the total was 93.28 and said that the bill split between 5 people (me and my girlfriend, her and her boyfriend, and our housemate) would equal 29.02. I told her her math wasn't right and she said that our town has has two water bills but won't show us the second bill she's referencing. She said that once we get the utilities switched into our name that we'll be able to see the second bill, which is in our lease but we didn't know we'd be living with her for so long as well as indefinitely. First off, I've rented 3 other places and we've never had two water bills, she said it wasn't a sewer bill. Secondly, is it a bad idea for us to switch the utilities in our name with her living there indefinitely? Why or why not? I'm trying to head into this conversation of denying switching the utilities in our name with as much ammo as possible. Thanks guys. [link] [comments]  |
| Best transition Jobs to being a real estate broker Posted: 06 Oct 2019 03:17 PM PDT Hey all, I am wanting to become a real estate agent. I have some money saved, but not enough to float my family for 6 months, I'm trying to expedite my way into the business. What I'm trying to figure out is what to look for job wise that would allow me to transition to real estate, but continue to earn a salary enough to pay for my family's monthly expenses while getting a few deals under my belt. I would stick with my current Job, but I am in property management, and it's considered a huge conflict of interest. Any help would be appreciated. I've been looking at working for a relocation company, or (god forbid) a discount broker if it means getting my foot in the door and some experience [link] [comments]  |
| Posted: 06 Oct 2019 02:25 PM PDT My wife and I are in the market for a new home. We would like to buy a new to be built home from a builder.
In the area, our options for builders are:
Are anyone of these better than others? Are any one of these we should stay away from? Are anyone of these we should specifically look into because of their brand quality? Why does Toll Brothers take 12 months to deliver a home vs other builders that take 6 months to deliver a home instead? Any other personal advice when it comes to builder would be greatly appreciated. Thank you. [link] [comments]  |
| Stuck in bad situation I don’t know what to do. Posted: 06 Oct 2019 05:37 PM PDT There was this condo I liked and decided to buy. Did an inspection on it and the inspector found one of the windows (it's a big window in the living room made of three 5 by 3 feet windows) had some water damage. We told the owner to change the window, they agreed. 2 days before closing I checked the window and it still wasn't replaced. I talked to my agent and he said we would ask for $1500 to be escrowed (500 per window) and if the owner didn't fix it by a certain date I would get the money in the escrow account. Closing came and the closer put that this window needed to be repaired by the owner, even after the house was sold, and that money was put in escrow. Gave the owner 12 days for the window bc something about contractors not being available. Here's where it gets shitty: The contractors came to "take the window and bring a replacement within a week." Instead the window is there, but it's now been broken in two spots (visible large cracks) and ductaped over! That's how it's sitting right now. It's been 17 days today. I called the closer on the 12th day, asked to take the money. The closer said I can't do that because "we never agreed to that" and the check is payable to the owner and the closer can't just make it payable to me? I asked her what the hell the 12 day limit was for then and how I wasn't aware of something like this?! Closer basically said the owner "has the choice of doing it or giving you that money" but I can't get the money without owners permission. This is outrageous! There was a time limit for a reason. I can't just give the owner a year to do it. I've been trying to move in and it's hard with people coming and whatnot to do repairs. I wanna move my things in. And now I'm told I can't get the money. My agent clearly said that we were going to ask for 1500 and if we don't get it fixed by the 12 days money is mine. Closer says otherwise. I've contacted my agent and the sellers agent but they're both not responding for days. This seems fishy. I'm prepared to sue if it means I win, and I believe I have reasonable cause. What should I do? [link] [comments]  |
| Posted: 06 Oct 2019 11:17 AM PDT Hi everyone, as above. 2 bedroom 1400' three level condo townhouse with a rooftop terrace and west exposure for really nice sunsets... will potential buyers have enough imagination and such, or is it better to pay for staging? Thanks kindly for any help you might have to offer. [link] [comments]  |
| Posted: 06 Oct 2019 05:01 PM PDT My partner and I are in negotiations for a house with an ADU. I'm having trouble researching how to value ADUs - for instance, does it make sense to calculate the value by subtracting the rental income from our mortgage? Thanks! [link] [comments]  |
| Q to Assessors: Lot Size reported much smaller than Building Sketches and Subdivision Maps: cause? Posted: 06 Oct 2019 04:51 PM PDT Hi, I'm looking at the parcels from Maricopa County, AZ for an academic study and it seems a lot of parcels have very low reported square footage while the building sketches and the dimensions from the subdivision maps indicate otherwise. Living area too is much larger even for one story buildings on a much smaller lot. Example: https://mcassessor.maricopa.gov/mcs.php?q=131-06-117 Lot Size 37 sq ft. Living Area 950 sq ft. Patio(s) 01 Slab (Covered: 0 | Uncovered: 1) 1st floor has 25x19=475 sq ft dimensions plus the unc patio. How is it possible that this lot is sized at 37 sq ft? A lot of properties have these way too small lot sizes reported in the Maricopa county assessor's database. Can anyone offer any guideline on what I'm missing? Thank you in advance! [link] [comments]  |
| Firing a friend of a friends realtor, what is etiquette? Posted: 06 Oct 2019 04:35 PM PDT I had hired a realtor who I know through some distant friends. We had worked together for a few months, out offers on a few houses ect. I'm a first time home buyer so I don't have any property to sell. She also referred me to her lender to get the preapproval process started. The lender was through a credit union. Her lack of communication and failure to put a bid in on a home I wanted was it for me. I hadn't been in touch with her for about a month before I hired a new realtor who I had very good luck with so far. I'm about to sign on a house in a few weeks. I'm sure my first realtor will find out through the grapevine once I sign for my house. I am pissed she lost me a house but do I let her know? Do I shoot her a text saying I decided to go with another realtor? Do I tell her why? I never signed any customer contract with her FYI. tia. [link] [comments]  |
| Posted: 06 Oct 2019 09:32 AM PDT My wife and I are in the process of buying a to be built home from a builder. They have said that they cannot change the wordings down to the letter in their contract. After my research online, many people are advising to get a real estate attorney to help out with the contract reading process when it comes to buying from builder. Even in the contract itself, it indicate that buyer should read all provisions prior to signing and that if you do not understand, it's best to seek legal or other competent advice. So if the company will not change the wording of the contract, is there even a point to get a real estate attorney to help us read through the contract? Thanks. [link] [comments]  |
| Selling stocks to purchase house Posted: 06 Oct 2019 02:54 PM PDT First time home buyer here. I want to make an offer on a house. Trying to figure out if it makes sense to liquidate some UPS stocks to make a larger down payment or even purchase the entire value at once. Or does it make more sense to pay it off with a mortgage, for tax reasons? Thanks in advance! [link] [comments]  |
| How should I decide how much to offer on a home? Posted: 06 Oct 2019 01:31 PM PDT I am looking to purchase a home for below market value if I can. My current thought is to scoop up a townhome that has been languishing on the market for 120 days. They've barely decreased their price in that time, and my opinion is that it's still listed slightly above market value. I am perfectly happy to stay where I am now and wait until a better deal on a property comes along if I can't get the price I want. Current list price is $315k. Would offering $300k, plus asking for a 3% closing cost credit, be reasonable? That's pretty much close to the top of what I am willing to pay right now. [link] [comments]  |
| Posted: 06 Oct 2019 09:33 AM PDT We will be putting an offer in today for a house listed at 115,900. I will be offering 110,000 and including a personal letter to the seller. My husband had a second chance at life after beating cancer, I see is raising our 2 young children and puppy in this etc etc. It was recommended we write a letter to improve our chances at the offer being accepted. Thoughts on this? [link] [comments]  |
| 1031 before owning a rental for 12 months? Posted: 06 Oct 2019 09:22 AM PDT I have a duplex that I bought in February 2018 that I want to do a 1031 exchange on for another property. I'm reading that most lawyers will tell you to hold for 2 years but the wording on the rules isn't very clear. I'm not a flipper and I own 4 other rentals so that might be able to show the IRS that my intent isn't to flip, but rather reinvest in a different more profitable property. Have any of you tried 1031 before 1 year? [link] [comments]  |
| Posted: 06 Oct 2019 08:49 AM PDT i'm current a senior in high school and was planning on investing In real estate once i gain a source of income from a job. But should i be going to college or should i enter the work force immediately to start making money as fast as possible? I don't see the debt being worth it currently but.. [link] [comments]  |
| Posted: 06 Oct 2019 12:08 PM PDT My wife and I just sold our condo, and are searching for a house big enough for our family and pets. ​ I've seen quite a few houses, and a couple have had basements that, instead of having poured concrete, have plastic on top of dirt, with a foot or two of air, then joists and plywood. ​ I've never seen something like this before, and I'm wondering a few things: ​ Does this have a name? One realtor told me it was a "subfloor," but I'm pretty sure that's not right. I could lightly jump on it and it made a hollow booming sound. ​ What potential worries should I have about this? So far I've thought of rodent/reptile incursions and moisture/mold. ​ Any help would be greatly appreciated. [EDIT]So it's not a crawl space. It's a full (or partial) basement that was apparently designed and built with the basement floor made from plywood on joists, over plastic covered dirt. My instincts are telling me that moisture will be a huge problem. [link] [comments]  |
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