Almost got scammed on a wire fraud Real Estate |
- Almost got scammed on a wire fraud
- Help! In contract and house tested positive for meth
- Landlords, how much liquid cash do you like to have before buying an additional rental property?
- Changing address of the home we just bought
- Can two people split the purchase of a condo with separate mortgages?
- Keller Williams: are they always this unprofessional?
- Under contract on a house with dual agency realtor
- Anyone here worked for Redfin?
- Etiquette and Expectations for Tenant During Showing
- What is a commercial broker for hotel sales really like?
- Help! Our deal is stalling out on CLOSING DAY because suddenly Chase bank is demanding that we install a radon mitigation system.
- Pre construction- New builder selling to family and friends first.
- Looking for some tips on first time home buying
- Buying First House but Hitting a Big Speedbump W/ Loan and Renters
- Halfway through lease with quality tenant who may need to move
- Proof of contingency
- [MO] Buying Auction real estate with contigency to sell yours?
- Buyer Attempting Emotional Manipulation
- Need some real estate advice regarding family member's medicaid qualification. (Texas)
- Why would an agent not represent Buyers?
- Advice for first home buyer
- Airbnb Refinancing Question
- Selling through Zillow: questions
| Almost got scammed on a wire fraud Posted: 22 Nov 2019 02:43 PM PST Almost got scammed. They spoofed my realtors info including contact and name display but the email address was new and generic. I called escrow via verified line and was told that account info was not correct and after reading the instructions it was a scam. Can I report this account as fraud and get it shutdown? I already notified my escrow and realtor. What else can I do? Edit2: just to add, the wire instructions had my escrows address and even name on the account. Seemed rather legit. They even had the right funding amount required in the request. Edit 3: so seems they had my address (or the property) and my full name when they contacted my realtor asking for my email. Having this info was enough info to convince my realtor that they were escrow. Everyone I have dealt with has this email so it leads me to wonder if it were the sellers agent that was compromised as that is the only person I know of that would have my full name and the address but not my email. So then the question would be how did they get that i fo from her. Edit: found this link [link] [comments]  |
| Help! In contract and house tested positive for meth Posted: 22 Nov 2019 07:56 PM PST Hi All - I'm in contract to purchase a fixer, thinking it was cosmetic only - interior and ext paint, floor refinishing, major cleaning because the tenants are filthy. A friend suggested that I test for meth because the tenants are obviously either current or former tweakers. So I researched good tests and performed the test during the inspection last week. I received the positive results today (I got the kind that you mail to a lab for results)- two tests, 1 was 1.14 other was 1.12 per 100cm. Have any of you ever dealt with this before? My agent has contacted a cleanup contractor who specializes in this. She says we ask the seller to pay for that cleaning and duct work replacement (among other minor safety issues that came up during inspection), and for that company to retest after the cleaning. FYI I'm in California, from what I read the state deems levels under 1.5 to be habitable. I've been waiting a long time (at least a year) for a cosmetic fixer that I can actually afford and that wouldn't entail a 1 hour commute, so I'm pretty disappointed right now. I'm really sensitive to any kinds of toxins and sometimes even perfume- I don't even go to a nail salon because I'll get a migraine, so I don't even know if I should keep moving forward with this purchase. Any insight would be greatly appreciated.. [link] [comments]  |
| Landlords, how much liquid cash do you like to have before buying an additional rental property? Posted: 22 Nov 2019 06:38 AM PST How much liquid cash do you like to have before purchasing another rental property, and after the purchase how much do you typically want to have left over? I have one property and would like to buy another, the numbers work out but if I purchase with cash it'll leave me with just around 5k left in cash. I could refinance my other property and get the cash but I owe 22 years left and not sure if I want to reset back to 30 or not. What's your typical outlook when purchasing? Refinancing the first rental is probably my most logical option to limit risk. [link] [comments]  |
| Changing address of the home we just bought Posted: 22 Nov 2019 05:57 PM PST We just bought a house in Tucson on a corner lot. The street address indicates X. There is no driveway on this street to the house and is part of the back yard which is completely fenced. It is a dirt road that is much lower than the yard level as well. The front of the house is facing the opposite way. The mail box and driveway is on Street Y. What needs to be done and what is the likely hood of having the address to this house updated to street X where the mailbox is. We've had mail returned because our address and mailbox is not on Street Y. Thank you! [link] [comments]  |
| Can two people split the purchase of a condo with separate mortgages? Posted: 23 Nov 2019 12:41 AM PST Is it possible for 2 people to take 50 / 50 ownership of a condo with 2 separate mortgages? For example, person A would effectively own 50% of the condo and person B would own 50%, each with their own mortgage? My assumption is that the answer is No given the property has only 1 deed and that can't be split up, but wanted to confirm. Any creative forms of financing that would work? [link] [comments]  |
| Keller Williams: are they always this unprofessional? Posted: 22 Nov 2019 11:43 AM PST I have been broker shopping and ended up signing with a local broker. Ever since applying for the exam KW has been blowing my shit up constantly. Calls, texts, emails, you name it. I scheduled a couple interviews with them but ended up canceling them because I was immensely turned off by their incessant contacts. Just now, someone with KW texts me and says "Cant wait to talk to you today!" because I had scheduled an interview for today, the 22nd. Except that I canceled this interview weeks ago, and this cancellation was acknowledged by email by the same individual who just texted me. I say back "Hi, I ended up signing with a different broker and will be hanging my license with them." To which she replies: "I must have missed your cancellation. When you aren't satisfied with that decision and/or want to interview to find out what you're even saying no to, let us know. Best of luck!" Oh yeah, that definitely makes me want to go with KW in the future. Is this typical of them? So bitter. Someone's mad they're not getting their recruitment commission. [link] [comments]  |
| Under contract on a house with dual agency realtor Posted: 22 Nov 2019 05:07 PM PST I am in VA and I signed a duel agency agreement valid until dec. 30th. We are scheduled to close dec. 20th. The realtor is always actively working against me. I knew she wouldn't be "our agent" but I never thought it would be this bad. Is there a way for me to be still buy the house but get an agent who works for my interests, without the dual agency realtor sabotaging me? I suspect the answer is no but if you have any thoughts please chime in. [link] [comments]  |
| Anyone here worked for Redfin? Posted: 22 Nov 2019 08:10 PM PST I'm fixing to finish up my Real Estate certification and take my licensing exam. I'm looking to become a real estate agent. I was thinking that Redfin might be the best option since they give a salary rather than just working on commission since I'm not sure how good I'll be at selling yet and I'd like to get experience before moving to just commission. I was reading on the Redfin website and saw that it said employees receive a salary and "bonuses". Can anyone tell me what it's like working for Redfin and what "bonuses" means? Is that like commission where you get some money if you sell a house but not as much as if you were solely working for commission? Also, if you wouldn't recommend Redfin, which companies would you recommend for someone just starting out? Any extra info would help as well! Thanks! [link] [comments]  |
| Etiquette and Expectations for Tenant During Showing Posted: 22 Nov 2019 01:23 PM PST Our landlord is in the process of selling the unit we rent. We don't mind, in fact as long as the timing works out we will be excited to move somewhere nicer. What I am having trouble with is showings...I work from home, and have a dog. So when there is a showing in the middle of the day, it interrupts my work, and gets the dog super excited (she's young, extremely playful, and loves people). What is the etiquette for a tenant during a showing of their unit? Do I have to introduce myself? Am I expected to answer questions about the unit? Do I have to show people around? Is it rude not to? How tidy should it be? Understand, we want the unit to sell as soon as possible too. So far I have been doing my best to: clean the place before scheduled showings (make beds, vacuum, tidy, dust, put away any laundry, make sure kitchen counters are clean and clear of clutter), turn on all the lights and open all the curtains to show the views to full advantage, put away personal items (underwear drying on the drying rack, credit card statements on the desk etc); drop my work; answer the door and immediately ask if they are OK with dogs (giving them a chance to let me know if I should put the dog in her crate); calm the dog down and distract her with treats. I then try to go back to whatever I was working on. This is where it gets extra annoying. Every single time, before I can retreat to my office, I start being asked questions about the unit: where are the bedrooms, how are the roofs, is the pool working, what is it like living here, are the washer/dryer included with sale. For the first few showings I tried to go above and beyond to be helpful, highlighting ongoing and recently completed improvements to the complex, laying out HOA Reimbursements for window replacement, talking about how nice our neighbors are and how great the neighborhood is, touring with them and answering questions along the way. I work in the hospitality industry and it's ingrained into me to be helpful. There have been five or six showings in the past few weeks, and I am loosing patience with it. I have said yes to almost every showing so far. Many show up late, like 30 min or more late, making it hard to plan work calls. 1/3 fail to show up, with no notice from the real estate agent that the client is late or has cancelled. So I wait, for an hour, expecting at any minute to have my work interrupted. So far all but one of the showings have been during the middle of my working hours in the business week. It is usually a new agent who I have never met before and who appears to know nothing at all about the unit. The last one forgot to mention to her clients that it comes with a garage and large storage unit. The one before that was mindbogglingly unable to find the bedrooms (this is not a huge place, there is one hallway) leaving her clients to ask me where the bedrooms and washer/dryer were. Before all of this started, I brought up my concerns with the landlord, and asked if there was any way we could break the lease early and move out earlier to avoid the disturbance (this was earlier in fall when there was a larger inventory of rental units we could choose from to move to). She said no, that unfortunately she cannot afford to keep the unit without a tenant. She also mentioned that she is also selling the condo she lives in and that she also works from home often, and hasn't had a problem. Her explanation was that all I should have to do is open the door for whoever is doing the showing and then go about my business as usual. I agreed we would give it a try. What should I do now? I want the unit to sell, and I want to do right by my landlord who I think means well, but I really don't want to keep spending 30 minutes prepping and then another 30 minutes touring, and afterwards another 15 minutes walking the dog to calm her down. That's almost an hour and a half, ever time there is a showing, for a unit I don't even own! How much should an agent be expected to know about a unit that is for sale prior to a showing? Neither of us are native Detroiters, husband is from New York, I am from LA, so maybe our expectations of realtors are just too high. We live in a upscale, nice area near downtown, and I would have expected agents to be a bit more professional and prepared. What do I say to her or to the real estate agents to make this less burdensome for me without being rude (after all this isn't the agent or potential buyers fault)? Background: We moved in about 2 years ago. We have about 5 months left on our lease. Our landlord bought our unit as an investment rental property sight unseen a few years ago (she is from Florida and has never been to Detroit). The first time she and I talked on the phone we hit it off immediately. We generally like our landlord as a person. We have dealt with endless repairs and maintenance issues. I have also had to be the point person making sure repairs get done, scheduling them, letting them in, following up when requested repairs linger for months without being fixed. We don't mind her selling the unit. After all, it pushes us to finally rent somewhere nicer. We hate moving and have been putting it off for a year because it was easier to just stay put. [link] [comments]  |
| What is a commercial broker for hotel sales really like? Posted: 22 Nov 2019 07:13 PM PST |
| Posted: 22 Nov 2019 08:27 AM PST First time home buyer here. We are buying a house with a conventional loan. Now on closing day, Chase bank is saying that we will have to delay closing until a radon mitigation system is installed. They waited until closing day to tell us this. We already have uhaul and made plans to start moving tonight and tomorrow. I also took today off work to sign the final paperwork. Now it sounds like we won't get the keys until Monday at the earliest. What do I do? Is there anything that can be done to push this forward?
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| Pre construction- New builder selling to family and friends first. Posted: 22 Nov 2019 06:41 PM PST Can someone explain to me how home builders (Canada) can sell to family and friends first, then have A VIP sale, people line up for hours, and when the doors open, all the home lots have already been sold and no one has even walked through the door. I don't understand how this works. It's just feels so defeating. [link] [comments]  |
| Looking for some tips on first time home buying Posted: 22 Nov 2019 06:08 PM PST Looking at purchasing at the end of my lease at my apartment. Currently, I pay about 1700 a month for rent in the city and I am looking into buying a condo for about $200k. Hoping to save Money and build equity and maybe even eventually rent it out someday. Wanted to see if there's any tips or things that aren't obvious that a first time home owner wouldn't know. [link] [comments]  |
| Buying First House but Hitting a Big Speedbump W/ Loan and Renters Posted: 22 Nov 2019 05:50 PM PST Hopefully, someone can help point me in the right direction. Here is the scope. Made an offer on a house in California in an expensive area with a lot of rental opportunities. I would be living at the house, while my parents whose name is on the loan and house would not. I would fill the house with renters to help cover the cost of the mortgage which I would be paying. That was the plan. Now, my parents went and spoke to a lawyer who said they definitely cannot structure it like this and they need to put it as an investment property. That raises the down payment and makes the interest rate way higher. Well, before we canceled I wanted to make sure we had explored all our options. It seems we are getting a different story everywhere we look. Some questions:
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| Halfway through lease with quality tenant who may need to move Posted: 22 Nov 2019 10:57 AM PST I collect security deposit and last months rent up front. He's been a great tenant, and has about 7 months left on his yearlong lease. He may need to move and wants to know how the process works. I've never been in this situation, and I don't have an explicit early termination clause in my lease (I will now in the future!). I also live in a college town, so I like my leases to start and end late spring/early summer to best accommodate the population that moves every year and I'm nervous trying to re-lease during the winter months. I really prefer 12 month leases. If I want to keep my leases starting/end in May or June, how can I best do this without have 6 or 18 month leases to get back on schedule? I'm in Virginia FWIW. How would you handle this? [link] [comments]  |
| Posted: 22 Nov 2019 05:58 AM PST We originally listed our house knowing that we wanted a specific house. Made an offer and while it was verbally accepted on Friday, I got a call on Wednesday morning telling me that someone came in with a higher offer on Tuesday night. I think the difference is around 15k from our original offer. There was no official purchase agreement in writing between Friday and Wednesday. The other person's offer is contingent on their house selling. Our house currently has an accepted offer and we are in the steps between completed inspection and appraisal. The seller's realtor said we are welcome to bring a non-contingent offer to the table since the accept contingent one is at a standstill. Their house is not looking like it's going to sell anytime soon and its been a little over a month since their offer came in above ours on the house we both want to buy. Yesterday, I asked my realtor to draw up a non-contingent offer with a short expiration date and 24 hours later, I still have no paperwork going to the seller. Make of that what you will.
My realtor is not being very open about communication which makes me wonder if there's something he's not telling us. I have my ideas on what it might be but I'd like to hear yours. This house has been on the market since June 2018 so almost a year and a half. [link] [comments]  |
| [MO] Buying Auction real estate with contigency to sell yours? Posted: 22 Nov 2019 09:47 AM PST Anyone done this before? I don't have enough to outright buy a house on auction. But I do have enough equity in the house I am selling. Thanks! [link] [comments]  |
| Buyer Attempting Emotional Manipulation Posted: 22 Nov 2019 12:26 PM PST I live in Dauphin County PA. Unsure how to approach this now. I lived in a mobile home park. Owned the home, not the land. Wanted to sell back to the park. Should have been simple enough. Life happens. Took longer than expected to get everything out. He kept calling to see if it was done. Alleged people wanted to see it. Fine, even though there are quite a few homes there for sale. I called Tuesday and let him know everything I wanted was out but if he wanted it cleaned up it would take longer. He said we could just trade my brand new stove for cleaning and make it an even trade. Called him today to find out whats going on. Now its "worse than he thought" "can barely speak about it he's so *emotional* " never in 40 years has he seen a home in that condition" yada yada yada. This is a business deal. I do not think emotions should ever play a part. I think he's trying to short change me on the price. Anything I can do? Thanks for reading. [link] [comments]  |
| Need some real estate advice regarding family member's medicaid qualification. (Texas) Posted: 22 Nov 2019 11:54 AM PST Need some real estate advice, here is the scenario: Aunt is trying to apply for medicaid as her funds have run dry. Medicaid requirements in Texas state that you cannot have property in other states to qualify. She owns 50% of the home we share in Florida. We are being asked to list 50% of the value of the house to meet the medicaid requirements. Goal would be to not sell the house and have her qualify for medicaid. Questions:
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| Why would an agent not represent Buyers? Posted: 22 Nov 2019 11:44 AM PST I was looking into purchasing a probate in Los Angeles but the listing agent does not represent buyers these are her words I'm confused why would a real estate agent deny dual agency? [link] [comments]  |
| Posted: 22 Nov 2019 11:07 AM PST I've just bought my first home - a newly renovated 1950s bungalow, a common style in my part of the world. We move in next week. What advice would you give me? What do you wish you'd known when you were in my shoes? [link] [comments]  |
| Posted: 22 Nov 2019 10:33 AM PST Hi r/RealEstate - I'm interested in getting everyone's opinion on next steps for an AirBnb property that I purchased on July 31st of this year. This is the first property I have ever purchased. Here's the rundown on the property, the financial situation, and eventually the question I'm curious about getting an answer on. I purchased the property for $63,000 on July 31st, it's a 370 sq ft. studio located close to a ski resort in the Southeastern U.S. Transaction costs to purchase the property amounted to $2,407. Since purchasing the unit it has grossed $4,667 and costs have totaled to $5,700(including transaction costs and ~$500 of mileage costs), so my net profit on this purchase has been -$1,053. So I'm in the green $1,900 if you don't count the one-time transaction costs or mileage. Monthly revenue seems to average at $1,500 a month and expenses are about $800 a month (including cleaning at $60 a clean) so it's cash-flowing $700 a month right now. I'm pretty satisfied with the numbers and I'm renting for 95-110$ a night, every weekend since I purchased it it has been booked. So what's my question and why haven't you mentioned your down-payment yet? My Aunt offered to loan me the cash to purchase the property for 6 months at 0% interest, which I of course took advantage of. After 6 months (January 31st), I need to refinance the property and pay her back. So right now I don't have a mortgage payment. I have a 25% dp (~16k) of my own personal money that I am willing to put down at refinancing and my separate bank account for the AirBnb has about 4k in total in it. I haven't taken any money from the AirBnB yet. The mortgage banker I've been working with says he can get me a loan where I can put a minimum 10% down, and he can refinance the loan with that as a second property. He hasn't offered me an interest rate yet since I apparently can't refinance until I have owned the property for 6 months (my Aunt is aware of this and is totally fine with the delay in payment) but I've ran some numbers and even a 20 year mortgage on 48k (15k down) at 5% is only a $320 payment, which still fits really well into my budget. So what would you do in my situation? How much money would you put down? From which bank accounts would you pull the money from? What are the tax implications of pulling the money from two different accounts (it's not an LLC)? What kind of mortgage term would you look for? As an aside, I don't own a primary home, my current rent costs are $600 a month and will be moving in with my girlfriend (who owns her property outright) and my rent costs will drop to $400 a month. Thanks - looking forward to everyone's feedback and advice. [link] [comments]  |
| Selling through Zillow: questions Posted: 22 Nov 2019 09:36 AM PST |
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