My rental home is directly across the street from where a new $140 million milk bottling plant will be built next year. Real Estate |
- My rental home is directly across the street from where a new $140 million milk bottling plant will be built next year.
- How worried should I be?
- House not selling and it makes zero sense
- I don't see anything to be concerned about on this inspection but am I missing something?
- ADVICE: Painting the inside of your first home
- Monitoring a property for someone taking out a reverse mortgage - is this possible?
- How do you get a good market assessment of an apartment? My ex and I own an apartment jointly. I want to buy him out.
- Help! Bought a house and now the city is coming after me for prior owner's permit issues. Palm Springs, CA
- IRRRL Loan Through VA - Any drawbacks?
- Buying from Opendoor Part 2
- How should I go about negotiating closing cost our first home purchase.
- Pre-offer historical district + zoning help
- Negotiations over a structure?
- Perfect location, interest buy back questions
- Looking for lender for rural home with spring fed water in Oregon
- First Duplex Purchase (need advice)
- Manufacture homes
- Seller is ignoring mold inspection report. Should I continue with the purchase?
- "As Is" Properties
- Is house being on a septic system a potential deal breaker?
- Seller "unavailable" to consider offer
- Best Real Estate Internships in Northeast
- Obtaining a Mortgage Denial Letter
| Posted: 28 Oct 2019 01:05 PM PDT I've had it up for sale since mid-August for $110,000. Its a 2-bed, 1 bath, built in 1945, in fair to good condition. The roof was re-shingled 4 years ago. It really is a fairly nice rental home that rents easily for $800/mo. Some people say its value might increase when the milk plant is finished, so keep it. Others say, SELL! SELL! SELL!!! I think it is a risk to keep it and just wait to see what happens to its sale and/or rental value. . What do you think? [link] [comments]  |
| Posted: 28 Oct 2019 11:05 AM PDT My husband and I just got back from the final walk-through on a home we are buying (closing is set for tomorrow) and the following happened:
How worried should I be about any of this? [link] [comments]  |
| House not selling and it makes zero sense Posted: 28 Oct 2019 09:09 PM PDT We listed our house 120 days ago in a great neighborhood near a major university where cookie cutter starter homes fly off the market. We wanted to price to sell so we could move ASAP so did extensive market research with our agent. We redid ALL carpet, re-painted the entire house and got the house/driveway/patio pressure washed. We listed $5k below the comps in the neighborhood. After 3-5 showings in 2 weeks with no offer, we lowered the price another $5. We averaged 2-3 viewings per week and didn't sell after another month. We lowered the price even more. The buyer agents feedbacks are always extremely positive. We've had three people almost put an offer, then withdraw for various reasons (decided not to move to this town, found somewhere with a bigger yard and preferred a different side of town). We listed mid July and around the beginning of September all showings stopped. We've had 3 in over a month. Since then, 2 homes have sold in our neighborhood for above even our original listing price. This is a very cookie cutter neighborhood, all built in the same year by the same builder. Same layouts. Our house is kept pristine, taken care of, regular lawn maintenance/deep cleanings to make sure it's always ready for showings, and it's priced lower than any other home in the neighborhood. I don't understand why it's not selling, or more importantly, what I can do about it. Every professional we spoke to, and our own research, showed us that homes in this area last around 1 month on the market absolute max. In the two years I've lived here, I've seen it firsthand. This is so unexpected, and I'm at a loss. Staying in this city is not an option past the holidays. I'm having a sit down with our realtor (highly rated in the area with an excellent track record), to figure out a game plan. Any advice, or suggestions please please send! I know the market is slow fall/winter, but since ours has been listed since July I'm terrified it won't even sell in the spring. If you've read this far, thank you in advance! Final Edit: We've had 15 showings in 105 days. Listing: lmk if you think viewing the listing will help and I'll send! [link] [comments]  |
| I don't see anything to be concerned about on this inspection but am I missing something? Posted: 29 Oct 2019 03:51 AM PDT Buying a 5bed 3bath house for $240k and had our home inspection done. His main findings:
We've just replaced our back door at home so i have a good idea what it would cost to replace those 3 doors with new ones but I don't want to be petty, either. Any insight is appreciated! [link] [comments]  |
| ADVICE: Painting the inside of your first home Posted: 28 Oct 2019 08:58 PM PDT Hey everyone! I just purchased my first home! #twelveofferslater Anyway - I'm looking to paint the interior prior to moving all my sweet garage sale furniture in. I'm just curious what some of you may have wished you knew prior to a DIY interior paint job. Any tips are much appreciated. I have watched several youtube videos already to get a general understanding of how you should pursue a paintitall approach, but am just curious if there are any folks who have some "wish i knew that beforehand" knowledge. Any advice is welcome as I'm just now learning all the nuances to such a surprisingly detailed trade-skill! Thanks in advance! [link] [comments]  |
| Monitoring a property for someone taking out a reverse mortgage - is this possible? Posted: 29 Oct 2019 02:37 AM PDT I am wondering if it is possible to monitor a property to see is someone takes out a reverse mortgage (RM) on it for example like if a spouse is afraid their partner might try to take out a mortgage w/o them knowing, or children want to know if the parents are taking out a RM, or if someone uses identity theft to take out a RM. I've looked at our counties property tax map and it lists if the property has a lien on it, if there is a mortgage and maybe some other information, so I'm wondering if this same site/page would list RM's. If it isn't listed there would there be any other place where it could be found and is there any current service for this? [link] [comments]  |
| Posted: 28 Oct 2019 04:30 PM PDT Our apartment has some issues that *should* be dealt with before selling but I am willing to take the risk. However, getting a good assessment of the apartment even without that risk seems tough. I am super truthful with realtors and my ex claims this is unfair. He glosses over things (and even lies) which I find ridiculous. He also doesn't tell them what we are doing and says we want to sell so they claim that they can sell a high amount. Would an assessor be a better option? I don't mind paying. I am in manhattan and so there are comparables but they have a wide range. [link] [comments]  |
| Posted: 28 Oct 2019 08:50 PM PDT TL;DR: Bought a house three months ago from a deadbeat, and now the city is filing liens to enforce compliance with unfinished work. Now what? I'm doubtful that there's anything to get from the seller in terms of lawsuit. So, I bought a house in Palm Springs three months ago. Prior to closing, I pulled the permits on the property from the city, and there was no indication of any open or expired permits on the property. The seller disclosures reveal that a pool was installed during prior owner's tenure (~2 yrs), as well as an HVAC system for the casita. They checked the box that all work was completed with requisite permits. The questionnaire does not ask if the permits were finalized, however. Flash forward three months, and I get a letter from the city alerting me that they are about to file two liens on the property. I called the building department and am informed that they are filing liens for two expired permits that were opened and never finalized. They are enforcing the code violations, which run with the land and not the owner. The first one is related to the HVAC in the casita and the other is for the pool. I now have copies of the permits, both of which expired prior to close of escrow (and prior to entering escrow as well as prior to the disclosures) - provided courtesy of the city. There are listed contractors on the permits. One was pulled by the owner (pool) and the other was pulled by the Air Con company (HVAC). I called the contractors. The HVAC guy sounded generally like he was hiding something, and they don't install that type of system. When I challenged him, saying his name was on the permit, he just kept saying it wasn't his problem. The pool guy was more interesting. He says that the owner pulled the permit and hired him as a subcontractor to do the excavation and gunite work, but didn't direct the job. He was irritated that they used his contractor number to open the permit, and now he's rolled into this situation. He has no idea how to get it fixed, and is basically putting this back in my lap. The city is telling me that, in order to avoid the liens, I have to re-open the permits (roughly $500) in the next 6 days and call an inspection and then it's up to the inspector to either sign off or give me corrections that need to be made in order to finalize the permit. The whole thing is a hot mess, and I'm worried this is going to cost me thousands that I can't recover. I should also add that at the close of escrow, the seller had not paid property taxes in two years, which I had paid out of the escrow at closing to clear this issue. Since closing, a process server has been to the property twice to look for the seller, so my guess is they are probably in a bunch of other trouble. As a result, I don't expect there's much to recover if I pursue them legally. What would you guys do here, friends of reddit? [link] [comments]  |
| IRRRL Loan Through VA - Any drawbacks? Posted: 28 Oct 2019 12:50 PM PDT I got a call from my lender this past week that I was approved to refinance at a lower interest rate on my home because I've made all my payments to date and not been late. The rate drops from 4.25% to 3.75% and saves me a small amount each month. There is about $2500 in fees associated, but over the life of the loan the extra .5% will save me much more than that. I don't have to extend out to 30 years, I'll just continue where I left off, and I'll have a one month break from making a payment when it switches, which would be nice if it comes around Christmas for helping with some of that. Is there anything I don't know about these loans that is a big negative, or that I'm not thinking of? A lot of the closing fees I won't have because the loan is still with the same lender so they wave all that. [link] [comments]  |
| Posted: 28 Oct 2019 09:46 PM PDT TLDR: Our agent said they were a breeze to work with and he really appreciated that they emailed him updates as work was being completed (per our purchase agreement). I would highly recommend a good inspector though. Some of the repairs were done just above board but will have to be re-done in the next few years. Key points: we purchased our home right after schools in our area started -- this is generally the end of the peak selling season and prices shift dramatically. Our city (suburbs of a dense metro area) also seems to be preparing for an economic decline. We think these factors aided us in our negotiating. I wish we had spent more time going through the home during our final walkthrough (more of an issue with our agent) because now that we've settled in we're noticing things that were not properly fixed. Each individual job is small in the grand scheme but all of it adds up quickly. Finally, we really love our new home. No regrets on the purchase and we definitely would consider buying from Open Door again. So I'm going to go into detail only because that's what I love from posts when I'm doing research. First, our agents feelings. He is an expert in every aspect of the home buying process and we were lucky to have him. If we have questions he answered them but generally didn't burden us with the details of his communication with Open Door. He prefaced by saying our purchase was very straightforward- priced right, obvious repairs to include in negotiating, and the property was a perfect fit for our needs. He said they would email him when a contractor arrived and left and what work was completed. It was also easy to access the property for tours. Second, our feelings. We were primarily nervous about the fact that we were purchasing the home from people who never lived in it. If we had a question about the plumbing, fireplace, appliances, etc. they could brush it off as"we don't know, we don't live there, but if you'd like to go back and gather info we'd be happy to grant you access." It turned out to be an appropriate concern. The major issue this related to was the irrigation system which was something we didn't really care about to begin with. Now it's turned into a real problem. As far as we can tell the home has had quite a few owners and every one of them has completed some DIY project. There was freeze damage to the irrigation system and leaked profusely. We asked if they would have that damage repaired and they did it cheaply. It'll be at least $500 in corrections and then another $500 in parts because the system hasn't been used in well over 5 years according to the company we hired to blow it out. There are weird electrical issues we've noticed that we're missed in the inspection and an issue with our garage door that we are told was fixed but wasn't. Third, overall feelings. It feels like they tried to cut corners in a lot of ways when fixing the house but they didn't intend to screw anyone over. We are discussing without agent about how to approach them with issues and we all feel negotiating will be easy. Despite the weird inconsistencies in the house, it's perfect for us and we ended up purchasing it for about 10k less than asking and we had a list of improvements that were completed or attempted. They did wait until the last minute to accept our offer but because it was a time of transition in the market it was somewhat understandable. Fourth, selling to Open Door. This is only hear say but we have asked around about experiences in selling homes to Open Door. We've heard anecdotal information from 3 people who essentially say the same thing: Open Door offers what seems to be a reasonable price, then require you to use their contracted service for the purchase agreement/title/etc. Then when all is said and done, a large chunk of what was offered to you had been set aside for fees to the partnered companies they require you to use leaving you with a net profit from the sale that is way under what you expect. All in all, I would definitely consider buying from them again but I wouldn't sell to them. [link] [comments]  |
| How should I go about negotiating closing cost our first home purchase. Posted: 28 Oct 2019 08:37 PM PDT I will start off with I have the liquidity to pay for all the closing costs of this house we are looking to buy for $310,000. On Zillow, it says that currently this is not a sellers or a buyers market. Naturally, my wife and I would like to save as much cash to stay within our comfort zone; So we made an offer for $310,000 with the seller covering closing cost. They seller denied the first offer and countered with raising the price to $317,000 and covering the closing cost. We have just countered with half the closing cost covered by the seller, with the original asking price. Now, at the end of the day, I really like the house and I am willing to foot the closing cost. My wife and her realtor friend are not so much on board with this idea. I guess I am asking if it is worth passing on this house due to the sellers not budging on closing cost to save on closing cost on another house? Am I the asshole here? [link] [comments]  |
| Pre-offer historical district + zoning help Posted: 28 Oct 2019 07:40 PM PDT I'm considering making an offer on a house in a historical district (southeast US). If I bought the house, I'd like to make some modifications to it. I have copies of the historical district rules as well as the local zoning laws, but they are very complex and I'm worried that I will misinterpret them. While I can (and will) ask my real estate agent, because this is a high-stakes thing, I'd like some independent verification. What type of professional do I need to find to tell me whether I can do what I want to do, and go into the details of what the constraints are? A lawyer? An architect? A contractor? Obviously I will find someone who has done extensive work in the specific area in question, but I'm not even sure where to start. I'm more than happy to pay for someone's time on this if I can find the right person. [link] [comments]  |
| Negotiations over a structure? Posted: 28 Oct 2019 03:28 PM PDT I am in the process of purchasing a house in a rather warm-hot market/neighborhood. My particular situation has made the process take a little longer due to lending requirements (not necessarily being approved just additional paperwork). We are almost done with everything however, title reveals that one of the additional structures (separate from house) is possibly not legal. My attorney inquired from the seller to furnish paperwork that the structure is legal. After about a week or so, they comeback saying that they haven't really look or can't find paperwork to justify the legality but that they are also not willing to legalize it. I have already asked the seller to do minor repairs which they refused. Im not quite sure it's this point if I should move forward with the deal like that. What are your thoughts? [link] [comments]  |
| Perfect location, interest buy back questions Posted: 28 Oct 2019 07:05 PM PDT I found a new build neighborhood in my absolute dream location. Only problem is that my preferred budget is $185k and this home is $215k. I was pre approved for enough to cover the cost, but I don't want such a large chunk of my paycheck to go towards housing. I'm very conservative with my debts and spending. When I went to the model home office, they mention an interest buy back loan that would lower the cost of my monthly payments. I'm still trying to learn about these types of mortgages and don't quite understand them. I'll be talking more with my realtor about it (I had stopped by this neighborhood without him as I was just driving past when I saw it) but I'm not sure what sorts of questions I should be asking when it comes to new builds or loans that would lower my monthly payment. I'd love any advice when it comes to this. [link] [comments]  |
| Looking for lender for rural home with spring fed water in Oregon Posted: 28 Oct 2019 10:13 AM PDT I'm selling a 100 year old home in rural Oregon that has always had a prolific gravity fed spring for water, with storage, new pump, and filtration. (Common in this area). The buyer's lender requires a well. I've seen where the VA allows this, but buyer isn't a veteran. Does anyone have a lead on a lender or broker that would allow this? Thank you for your time, and have a great day! [link] [comments]  |
| First Duplex Purchase (need advice) Posted: 28 Oct 2019 06:53 PM PDT So I'm currently looking to purchase a turn key duplex that I owner occupy so that I can cut my monthly living expenses. Current property I'm looking at has been completely gutted and redone. very clean job. New HVAC, pluming, electric, roof, separate fenced yards, new air conditioning. Its in a high appreciating area and an area that I like. I have a friend on the same street with a pretty beat up outdated duplex that is 3 bedroom and 1 bath per side that just appraised at 130k. I want to offer 250,000k. Any comments or concerns? List Price - 290,000 [link] [comments]  |
| Posted: 28 Oct 2019 10:46 AM PDT I am looking into buying a manufactured home for super cheap. At this point it only seems more logical to be paying a mortgage on a house than basically the same for renting a smaller apt. Is this wrong? After asking family, they told me to just "save my money"- but I don't care to save my money for something else, I just want a house/investment. I have good credit, pay off student loans already/consistently. What's the catch? I am interested in not wasting my money on rent, but I am also interested is getting into real estate investment and figured this could be good for dipping my toe in the water. ANY advice is appreciated!! [link] [comments]  |
| Seller is ignoring mold inspection report. Should I continue with the purchase? Posted: 28 Oct 2019 06:06 PM PDT I did a mold inspection which resulted in this report but the seller says that because it's not visible and because the single swab that the inspector did came back negative, that they don't believe that there's any mold, even though air samples have it at 36,000 spores per m3. In the disclosure, which was signed before the inspection, it says no mold. It's a great house in a great area, so I forged ahead past the due diligence period, anyway, after negotiating $10k off the price for mold remediation and the other things that were caught in the inspection. But now I'm second guessing myself because the quote for remediation was at $16k (which included replacing drywall, but not floors). This quote was from the mold inspector, who is also a mold remediator I'm waiting on the appraisal now, and I'm hoping to will make me more of sure of what to do. Does this smell like a nefarious deal? Is this legal, that she's ignoring the mold report? Should I report this to somebody? What would you do? Would you buy it? [link] [comments]  |
| Posted: 28 Oct 2019 05:56 PM PDT Hello! I am looking into buying my first multi- unit property and have come across quite a few that are being sold "as is". From all of my searches so far, all of these properties need quite a lot of work done to them. From your personal experiences, should I expect this from most, if not all "as is" properties that I look at? [link] [comments]  |
| Is house being on a septic system a potential deal breaker? Posted: 28 Oct 2019 05:30 PM PDT We are planning to put an offer on a single family house near Seattle (Kirkland) that was built in the late 60s. Most everything has been upgraded at some point. It looks really nice. The one major issue with the house is the septic system. It appears to be original so it is about 40+ years old. We will have an inspection done soon, but we will not have enough time to so a septic inspection. They have an offer review date of Wednesday and the listing agent already said that they got couple of offers that waived inspection. Is it a good idea to waive inspection for septic? The seller is very old and does not have much data on the condition of septic. The sellers did not even have any data on septic system and its size. We had to pull it from County records. The home is close to 1500 sqft and they have a 900 gallon concrete tank. Is that typical for a 1500 sqft size? Our research has indicated that the average lifetime of a septic system is around 40 years and that it is generally recommended to replace it every 40-50 years. It seems likely that if we buy this house, we will have to replace the septic system sooner rather than later. All the homes on the block are on septic (about 10 homes) and it is not possible (very expensive if possible) to connect to public sewer. How big of a deal is buying a home that is on septic? Is it typical that septic needs replacement in 40 years?We really like the house but we are afraid we might be getting into a financial sinkhole with a 40 year old septic. Also, even if the septic is in a good condition now, how big of a deal will it be if we ever want to to sell the house with a 50+year old septic? Thank you for your time. [link] [comments]  |
| Seller "unavailable" to consider offer Posted: 28 Oct 2019 11:25 AM PDT I put an offer in on a new house that is under construction (supposed to be completed this week). The seller's agent has been kind of sketchy from the get go. At first, he refused to respond to a request for a showing from my agent until I contacted him directly. I really liked the house once I finally got to see it, so I submitted an offer with a response deadline of approximately 48 hours. The offer was very reasonable, in my opinion (less than 3% below asking price). The market where I live is good, but is slowing down. The house has been listed for over 25 days. I figured the offer would at least elicit a counter offer. The seller is an LLC with several members. A few hours before the response deadline on my offer, the seller's agent tells my agent that he is waiting to get a response from one of the members of the LLC who is out of town and wouldn't be available to consider the offer until the following Monday (3 days after the response deadline). I'm not in a hurry to get under contract, so my agent asked if they wanted us to extend the offer acceptance deadline but she got no response. I figured that if they are going to counter, it wouldn't matter that my offer lapsed so I didn't worry about. As I've thought about it more, the whole "unavailable for 3 days" doesn't make a lot of sense. This is 2019. The idea that someone would be unavailable to consider a relatively straight forward real estate purchase offer for 3+ days seems unlikely (unless they are in some remote location without access to the internet or cell service). I do like the house and would be willing to improve my offer, but I expected that the seller would counter first. Kind of starting to think that the seller is anticipating or hoping to get a better offer before they have to respond to mine. Part of me is wondering if the agent is the one slowing things down, hoping to find his own buyer so he can get a double commission. Am I right to wonder about things, or is this pretty normal stuff? Is it advisable to submit another, better offer now that my original offer lapsed without a response, or do I just wait and see if I get a counter today? The seller's agent did say he would get back to us by today. It ultimately wouldn't be that hard to walk away from the house, but I would like to make it work if it is possible. [link] [comments]  |
| Best Real Estate Internships in Northeast Posted: 28 Oct 2019 05:22 PM PDT Hi all, I(20M) am currently a junior in college. Last summer I was working in Boston as a real estate agent, mainly doing residential leases. I love the gig, but I want to explore more of the real estate industry. I currently have applied to the big-name commercial firms(CBRE, Cushman, JLL, Newmark). Does anyone have any other suggestions for internships in the Northeast involving real estate? Thanks, Everyone! [link] [comments]  |
| Obtaining a Mortgage Denial Letter Posted: 28 Oct 2019 05:07 PM PDT So I was told by a property manager friend of mind that it's possible to obtain a Mortgage Denial Letter (or whatever it's called) from the lender on your contract if you want to back out of a home purchase after you sign a purchase agreement. The lender can draft and send this letter to the builder/seller stating that the buyer is not eligible to buy the home and has been denied the mortgage. Does anyone know anything about this? Every time I try to google this, it only comes up with what to do if you actually get denied due to credit/income requirements. [link] [comments]  |
| You are subscribed to email updates from HomeOwners & Investors. To stop receiving these emails, you may unsubscribe now. | Email delivery powered by Google |
| Google, 1600 Amphitheatre Parkway, Mountain View, CA 94043, United States | |
No comments:
Post a Comment