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    Saturday, October 12, 2019

    Potential Buyer entered property unescorted Real Estate

    Potential Buyer entered property unescorted Real Estate


    Potential Buyer entered property unescorted

    Posted: 11 Oct 2019 05:02 PM PDT

    Selling unused summer property. Sale is tied up by septic repairs. Went to close the place for winter and found the windows open. Strange! Find out the potential buyer (a real estate agent), went out there on his own and opened windows and such. The windows were open for 3 weeks. Isn't this a violation of ethics at least and trespassing at worst?

    submitted by /u/A3_AnonAnonAnon
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    Is there a right or wrong answer to this???

    Posted: 12 Oct 2019 03:55 AM PDT

    I work for company that is sending they're managers to some sort of training, They call it LEAP training by the Simons group. That's the training company name. Any how in the training there is a group of managers maybe 20 or 30 sometimes we have to do them once a month. So we were asked a question in a slide show about Real Estate and we all had to come up with an answer. Question was: If you buy a house for $269,000 then sell for $279,000 then buy for $289,000 then sell for $299,00 do you make profit? We had people saying brake even, plus 10k, minus 10k , plus 20k and I was so confused my only answer was plus 30k and was the same for 5 other people that agreed with me. At the end the instructor never gave us the right answer so I bring this problem to you guys any input will be greatly appreciated thanks.

    submitted by /u/xDTERMINEDx
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    Compensation and eminent domain

    Posted: 11 Oct 2019 01:23 PM PDT

    Just received a letter from my state. They want to put a bus stop in my front yard. I imagine this will reduce the value of my property and obviously the sale of my home. Can anyone fill me in on what to expect? What percentage is usually offered for a piece of land. If I sell, is it legal/ethical if I do not mention it in sale?(it's not ethical, it's shady).

    submitted by /u/biomech120
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    Those that have successfully invested in mobile homes or mobile home parks, what tips do you have?

    Posted: 12 Oct 2019 12:09 AM PDT

    I know someone who lives in one and pays ~$500 in rent, which makes me think the cap rate must be quite high. Of course, the mobile home probably depreciates instead of appreciates?

    I have no experience/know-how in this area and would like to hear from those of you who are familiar with this type of investment.

    submitted by /u/karakarafade
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    [CA] Closing on refinance tomorrow and escrow company has not sent me documents to preview. Is this normal?

    Posted: 11 Oct 2019 11:56 PM PDT

    Hoping someone with more experience can help.

    Refinancing my mortgage for the first time. We are using the same lender (big bank) and their recommended national escrow/title company.

    I asked our closing officer with the bank if we could get the refi document package ahead of time to read through in detail. The lady said she would coordinate with the escrow office and get them to send us a digital copy of the docs for our reference.

    We are now the night before a mobile notary is set to come to our house and help us sign. No documents in sight.

    When we bought the house, I coordinated with the (different) escrow office directly and they gave me the whole purchase packet to read ahead of time. It helped tremendously in understanding what I was signing and why.

    Im wondering if not having any contact with the escrow company and not seeing the documents ahead of time is normal for a refi? Should I be concerned that I havent seen or heard anything at all from the escrow/title company? Does anyone know what types of documents I should expect to sign? Will the notary get pissed at me for insisting on reading everything prior to signing?

    I'd prefer to not delay the refi closing, but I'm not willing to sign anything without reading it first. Hoping someone with knowledge can either confirm my fears or lessen them.

    Appreciate the help.

    submitted by /u/DigitalEvil
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    Online Auction

    Posted: 11 Oct 2019 10:22 PM PDT

    For a hypothetical online auction listing, if the resale estimate is $1,000,000, and the opening bid is $200,000, and the estimate of debt is $250,000, how low of a bid is reasonable? Does the bid, if accepted, wipe out the debt?

    submitted by /u/jrafar
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    Why does the county assessor need to do an appraisal?

    Posted: 11 Oct 2019 07:22 PM PDT

    I recently bought a new home, and while I was at work an appraiser from the county assessors office came by and wanted to come in and appraisal the home. My brother was at my house and he didn't let her in. Can anyone explain what they want to do and why?

    submitted by /u/koneillp
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    What to expect: un/fortunate series of events

    Posted: 11 Oct 2019 06:00 PM PDT

    I'm the seller, accepted an offer and filled out paper work for title company to arrange closing. On the day my realtor got $5k earnest money from buyer, hours later a drunk driver with no insurance crashed through 2 fences and smashed into the corner of my garage. I'll post a pic in the comments. The driver fled the scene and still hasn't been caught. I have a meeting Monday morning with my home insurance. I have a $5k deductable and just when I thought my 12 years of public school teaching was finally going to see some financial relief ...this happens.

    The timing of this is crazy and also the fact that I saw a $5k decrease in pay this year, which makes the 555 numbers spooky! Thats a whole separate story... basically veteran teachers were given "longevity pay" to encourage us to keep coming back each year but then they stopped just this year (which was $5k) ...but then all teachers got a 1.4% raise so really I only lost $3,600, still stung though.

    This is a cash deal by the way, because the home already wasn't in great shape. I'm told the buyer knows and visited the scene but didn't run screaming. They want to push closing back till insurance and repairs are figured out... Any idea what I can expect in the next few weeks?

    submitted by /u/Octopus_Kitten
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    Home inspection is today, in an hour, the under cabinet lights do not have an on/off switch they are voice activated or activated using the Hue app. Should leave a note on the kitchen counter to inform inspector of this?

    Posted: 11 Oct 2019 10:06 AM PDT

    Sorry for making a second post in two days but y'all were so helpful yesterday and seem to be so helpful to others as well.

    I can hardly remember when we had the home inspection but I just remember the inspector trying the outlets and the sink disposal and stuff. I'm assuming he'll be sure to turn on the lights and then them off, so that's why I'm not sure if I should leave a note saying that to turn the lights off to say "Alexa, turn cabinets off", or "Alexa, dim cabinets", or by use of the Hue app on a phone.

    Maybe I could leave my iPad out for them to use the app?

    submitted by /u/prophy__wife
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    Highly erodible land

    Posted: 11 Oct 2019 04:04 PM PDT

    Can anyone explain what this means? My internet searches have not been much help. Would you buy a house if the survey said this?

    submitted by /u/Hotpinksparrow
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    Agent commission, how does it work?

    Posted: 11 Oct 2019 07:40 PM PDT

    How does it work when you are the buyer agent and end up dealing with a seller agent? How each get paid? Each has his own commision %? Do they have to split commission?

    submitted by /u/KAMER-HAMEE-HAA
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    Where to find land?

    Posted: 11 Oct 2019 08:10 AM PDT

    Not sure if this is the right place to ask, but my father is wanting to buy some land/lot to build a home. Whether or not it's ready to be built on or not doesn't matter. Anyone have sites or ways that work best to search for these? Zillow and other home selling sites don't seem to have very many listed.

    submitted by /u/cormamin101
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    Book recommendations?

    Posted: 11 Oct 2019 01:58 PM PDT

    Hi, I'll have a lot of free time this next week and I'd love to use it to learn some stuff.

    Is there any book or podcast about real estate that you would recommend for a complete beginner?

    Thank you!

    submitted by /u/Ramy_91
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    Selling a mother daughter (NY)

    Posted: 11 Oct 2019 01:36 PM PDT

    My wife's grandparents have owned a mother daughter for about 20 years, and my MIL has lived with them in the upstairs apartment the entire time and paying them (absurdly low) rent. Recently they have been considering selling the house for a number of reasons, but we don't believe my MIL will go willingly. Will they have to go through the eviction process in order to sell the house, or is it different for a mother daughter?

    submitted by /u/bowbeforejebus
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    How accurate is Homebotapp?

    Posted: 11 Oct 2019 09:47 AM PDT

    My realtor has me signed up for updates on this thing, it struck me as showing fairly reasonable value estimates, especially compared to redfin or Zillow. Except for some reason theres a crazy crash in the last month. My market's been trending downward, but not 10% in a month down. 459k in august to 418k in september? Is Homebot just as ridiculous as all other valuation tools?

    submitted by /u/junegloom
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    Leasing my house to Short Term Rental Company???

    Posted: 11 Oct 2019 01:29 PM PDT

    Hey guys. New here. I recently received an inquiry on my home for lease from a guy with a short term rental company. He lives in my area and has a few mutual friends in a generally reputable circle of people. Long story short, he wants to rent out my house, and "transform" it into a short term rental. We've talked about it quite a bit but honestly this was kind of out of left field for me, so I'm not sure if I'm asking all the right questions or seeing the potential pitfalls of a scenario like this one. I don't see any red flags thus far.

    submitted by /u/MinistryFolks
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    NE Florida - Jurisdictional Wetlands

    Posted: 11 Oct 2019 12:37 PM PDT

    I'm considering buying property and halfway through the property a line of jurisdictional wetlands cuts through. I know I am unable to develop the wetlands, but am I allowed to put in a driveway or gravel road to get through from the front to the back? There's about 3 acres in front and 1.5 acres in back that are usable, but if I can't cut through the wetlands to access the back, it's essentially worthless.

    submitted by /u/turn20left
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    Whats the biggest commision you've got'N?

    Posted: 11 Oct 2019 07:22 PM PDT

    Whats the biggest commision you've gotten? Be honest.

    Baller alert 🚨

    submitted by /u/KAMER-HAMEE-HAA
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    Allotment not directly payable to seller

    Posted: 11 Oct 2019 11:06 AM PDT

    We are buying a house in Texas. One of the bathrooms was getting remodeled as it was listed. We made an offer on the house and asked for cash back from the seller instead of them finishing the remodel (so we could pick finishes). The money was listed as an allotment in the contract. Now the real estate agent is saying that the money cannot go to us, it needs to be paid directly to the contractor performing the work. We haven't picked a contractor yet. Why can't the money be paid to us directly?

    submitted by /u/dogzy99
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    (US) I want to become a first-time homeowner. What is the first step?

    Posted: 11 Oct 2019 11:02 AM PDT

    I'm basically asking "how to be an adult" but I'm sort of lost. I have about $10k in savings and make about $46k per year. What's the first step I take to start the process of finding a house and finding my price range?

    submitted by /u/NastoAlert
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    Home Closing Postponed Indefinitely because of a possible FIRPTA issue.

    Posted: 11 Oct 2019 06:43 AM PDT

    To whom it may concern,

    If anyone has advice or experience with FIRPTA I would appreciated any thoughts/advice on the matter. My situation is pretty complicated. We (my wife and I) sold two properties to buy another one. We have one child and he is 19 months old. The Sellers of the house we have a contract on is Foreign national of India. She, as I have been told, is a widower. The house we are in the process of purchasing, structurally is fine, but it was a rental property for 5 years prior and is not clean and needs renovations in the kitchen and master bathroom. The kitchen, to put it mildly, is a mess and almost unusable.

    For example: The dishwasher needs to be cleaned and or serviced because dishes come out dirtier then then went in, The garbage disposal is broken and the sink doesn't drain, The front of the gas oven gets so hot if you get branded if you touch it (very dangerous for our child) because either the door is broken or the seal is broken, and I could go on and on...

    It is literally the worse house in the best neighborhood, in a very good school district. They gave us 10 days (one weekend) to sell our home(s) putting a lot of pressure on us to close fast, which we did. We put all our belongings in storage because we planned to refinish and stain the hardwood floors and reno the kitchen. Come closing time 9/26 our agent informs us the US consulate is holding up the sale of the house. He assured us the sale will happen and not to worry and that it will take at most 5 days. Hes said hes going to give us an addendum for 14 days safe. We assumed it was a slight over site of some kind so we continued with our plans to reno the house. We order a shipment of hardwood and had contractors lined up for the following week. 14 days later we just signed another 2 week extension and we know little or nothing as to why we are waiting. We went for a consultation with a lawyer and he said it sounds like FIRPTA but he said this could take months because it sounds like she is being audited for the 5 years the property was being rented. I'd rather retain legal counsel just yet because its sounds expensive and messy and is something I only want to use if htey breach the contract and leave us homeless. We really do like the house and want to stay but don't want to be wait indefinitely only to find ourselves homeless with a small child. We keep asking to see paper work of what is actually going on only to receive a email change from the sellers agent and his client with the US consulate. The response from the consulate reads:

    Dear Madam,

    Thank you for your email.

    Your documents are under review. We will let you know when to schedule an appointment.

    Regards,

    I am not sure what to do...

    submitted by /u/aprunka
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    Found a deed of reconveyance in our family heirlooms...

    Posted: 11 Oct 2019 09:42 AM PDT

    Ive been trying to find out more about old deeds of reconveyance on the internet, but the only thing i can find is that it means the mortgage on that property has been paid in full. Forgot to mention in the title that the deed is from 1915. Does anyone know if this holds any value? Wouldnt the once-owner have to surrender this when selling the house? Or does this mean it has been likely passed down to someone else in the family and they dont have the deed? (I really dont know much of the history of the house, besides who originally lived there) Any thoughts would be appreciated!

    submitted by /u/Puzzlepro19
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