Update to Buyer making unreasonable demand 9 days before closing Real Estate |
- Update to Buyer making unreasonable demand 9 days before closing
- [NYC] Thinking about buying a condo in the Bronx and renting it out. What kind of restrictions would I run into?
- Cheap appliances since we're poor after down payment & closing costs
- [NC] Put offer on an OpenDoor place, my experience
- House has sold conditionally but buyer/agent continue to host open houses?
- I'm 21, worth $100K, stuck in life, and don't know what to do
- Backing out of Escrow
- Your first year
- Mortgage shopping etiquette?
- Pandora of Reddit, do you ever give gifts for the holdays?
- Should i buy a brand new apartment "off the plan" or something already built?
- Best way to list a property in China?
- Trying to sell my deceased Father's home
- Hi, first time home seller and looking for some tips on what looks good in the brochure photos? And should a room be in the brochure even if it’s really small?
- Hold, sell or seek investment partner or fund
- How To Sell A Home As The Owner (Details In Post)
- Random text regarding my parent’s house, scam?
- Rent Rate for Roof Lease for Radio Antennas [AL/TN Valley]
- What is the best way to find pocket/whisper listings? (Seattle)
- Is it common to have a NNN lease that doesn't have a base NNN rate defined in the lease?
- Who gets the Earnest Money? {SC}
- Cost to put in a deck
- Commitment letter
- Sellers not willing to do any repairs; does this seem legit?
| Update to Buyer making unreasonable demand 9 days before closing Posted: 01 Nov 2019 12:38 PM PDT We ended up refusing to do any further repairs and served the buyer with a notice to perform to remove all contingencies. I told my realtor we were ready to cancel and put the house back on the market. This would have sucked with the holidays coming up. The buyer decided to move forward and removed all contingencies. We are set to close this week. Original post: https://www.reddit.com/r/RealEstate/comments/do4k4b/buyer_making_unreasonable_demand_9_days_before/ [link] [comments]  |
| Posted: 01 Nov 2019 10:44 PM PDT I'm entertaining the idea of buying a condo in the Bronx and renting it out. Running the numbers it makes sense. A 1/1 condo would be about $150k depending on the area and rent out north of $1500. What kind of restrictions are common in condos in the Bronx, and what kind of rent control/stabilization is in effect? [link] [comments]  |
| Cheap appliances since we're poor after down payment & closing costs Posted: 01 Nov 2019 08:19 PM PDT Hello! We're pending inspection to purchase a nice house with a view in the Seattle area (the market is really high right now) and we'd be paying a lot UPFRONT for down payment and closing costs. We're not ACTUALLY poor at this point, but we will be spending the majority of our savings on our Home purchase so we'll be a lot more poorer than we ever have been before together as a couple. We need to buy a washer & dryer (stackable) unit, as well as a microwave, which aren't cheap if purchased new "out of the box". I've heard around that there's places you can buy used/refurbished appliances for steeply discounted prices that are still in perfectly good condition. Does anyone here know where to look for these discounted appliances? Thank you! [link] [comments]  |
| [NC] Put offer on an OpenDoor place, my experience Posted: 01 Nov 2019 06:40 AM PDT First to see a home you must download their app and provide your phone number (it'd be verified via text), street address and email address. I put bogus street and email address, so they don't verify those. I put an offer of $250K on a house where comps suggested this is slightly above market. They were asking for $280K. I used a real estate agent which I knew would eat into their margins. They countered for a $1000 less than their original ask, I didn't bother countering. However, the thing that prompted me to post this was their disclosure statement. Practically every box was "no representation". They received a disclosure statement from the seller, who I imagine didn't pull this stunt, so they are basically hiding information they already know. Pretty sleazy in my book and I've decided not to pursue another OpenDoor house. [link] [comments]  |
| House has sold conditionally but buyer/agent continue to host open houses? Posted: 01 Nov 2019 09:01 PM PDT EDIT: Sorry- title should say SELLER not buyer! Location is Ontario, Canada. I will try to make this as concise as possible. Have been looking for over a year, finally fell in love with a home. House was listed in September for $849,000, a few weeks later reduced to $829,000, then reduced to $799,000 two weeks after that. We saw the house twice and put in an offer the day after we saw the house a second time. Now the house is in immaculate condition but it backs onto a very busy road. Our max is $780,000, so we put in an offer for $760,000, with the hopes that we would negotiate to $780,000. We don't have a condition on financing, only home inspection. We are also flexible with closing date. As we were submitting our offer, we got a notification that an offer had just been submitted. We tried to make our offer more competitive by increasing our deposit amount. The next day, the agent called our agent and asked if we were flexible with closing- we said we were. She then asked verbally if we could increase our offer as the other offer was higher than ours. We said we could go up to $780,000. She said she would get back to us but she was pretty sure the buyers would not settle for less than $800,000. We remained hopeful but after an hour, we got a call back from the agent saying the sellers have chosen to go with the other offer. We were really disappointed, but we eventually got over it and resumed our search. Interestingly enough, that weekend, the agent hosted an open house for that house on Sunday. The next day, the agent called us and said they were worried the financing would not go through for the other buyers as we were reaching the deadline (next day) and they had not secured financing. She said they had an open house and had 3 very interested buyers come in. She asked if we would up our offer- we said no, we have reached our max. She said ok and she would get back to us. We never heard back from the agent. When we logged onto MLS, we saw that the deadline had been extended to November 4th. Just today, I'm seeing they are hosting ANOTHER open house this Sunday. Our agent is very bewildered and so are we. Our agent said he always agrees to showings when the house has sold conditionally, but never in his experience has he hosted open houses when the house has sold conditionally. What gives? Anyone aware of what tactic the buyers are trying to use? We really love this house and would love to buy it but find the actions of the buyers and agent to be very confusing. EDIT: Should we just sit back and wait to see how everything pans out? My husband wants our agent to call the sellers agent to see what's going on but our agent is saying that will show our desperation and to not do anything at this time. Any help is greatly appreciated. [link] [comments]  |
| I'm 21, worth $100K, stuck in life, and don't know what to do Posted: 02 Nov 2019 12:05 AM PDT Title says it all. I'm 21. I'm a self made YouTuber. I started 8 years ago and turned my dream into a full time job. I'm terrified of failing and losing everything I have. I don't have a back up plan nor anyone IRL to share my thoughts with. I'm very fortunate to never had to work a "real job" or whatever people call it haha. I still pay taxes with my "fake job." Jokes aside, I have never had a 9-5 work ethic, like everyone else around me has. Since a kid, I have always dreamed of being my own boss and financially free. I've always been frugal with my money but have made some major purchases in 2019. And my saving habits haven't been the best since March. Split up with the long time GF one month to the date I bought my house. But I'm back on track as of September. I started out 2018 with $400 and ended 2018 with $115,000 in the bank. I currently sit right at $20,000. With the help of no one getting this money or spending it, I currently sit at $20,000 in the bank. Here is what I have done with my money:
I know if I had to (I'm a worrier and always have a way out) I could sell my car and house and that would put me at around $76,000 total in the bank. But that money isn't doing any good sitting in there. So that's a brief history of me and where I'm at for a better understanding. I know I'm young, I'll be 22 next month but in my head I am racing against the clock. I grew up in a home with a single mother who is only 14 years older than me. I learned second hand through watching her mistakes (I grew up very young). So I never had anything handed to me, I just learned everything on my own. I don't know where to go or what to do. I'm definitely in a good position and want to try and play my cards right as best as I can right now while I still have the chance. The ONLY thing I can currently think to do and actually get super excited about is real estate. Buying properties to rent or lease out and just building a huge portfolio of that. I live in a Military town of around 22,000. So rentals and rental rates are super high here which is advantageous to me. I currently live in a 2500sq ft home. It's a 4 bedroom house with just me and my dog haha. I use two rooms as offices but I could downgrade. The house is 11 years old and valued at $250,000. I have $50,000 in equity and my monthly mortgage is $1425 per month. Houses in my area the size of mine and even smaller rent for around $2100 per month. I live in a military dominant neighborhood. The people I bought my house from said they had multiple offers of high ranking military officials wanting to rent for 3-5 years... Would that be smart to do? I feel confident in doing so. With my mortgage being $1425 per month, if I rented the house out at $2100 and locked these people in for 3-5 years that is guaranteed extra income of $675 per month. Combined with my other two rent houses which bring in $560 AFTER that mortgage is paid... I would be making $1235 per month from these three houses. Can I just keep buying houses with lots of equity and rent them out? Does the above paragraph make sense? What would you do in this situation? I am looking for genuine advice as this forum is all I have to talk to, share my thoughts with, and hopefully gain knowledge from. Thank you all so much for taking time out to read. It means the world. Let me know if you have any other questions. [link] [comments]  |
| Posted: 01 Nov 2019 11:55 PM PDT We got our offer accepted a little over a week ago. Its a newly built townhome of just 9 units. Gorgeous homes but not in the best neighborhood of Los Angeles. We are pretty bullish on the area tho so we made the jump. We drove by the house tonight to check out the street during the night and found what appears to be gang graffiti on one of the units. Pretty big and prominent on the garage door. The homes are new construction so they are all empty right now. Altho I think it was targeted because all the units are sitting vacant, we can't help but feel a little rattled. The question is, can we back out of our escrow without losing our earnest deposit? We haven't removed our inspection contingency yet, altho we did submit a repair request after the inspection. Also, the property the graffiti is on is not our unit. [link] [comments]  |
| Posted: 01 Nov 2019 11:49 PM PDT It's all about the title, Working on getting licensed. However my job now I'll need to change I'm sure to be able to cover my bills and Pursue the real estate career I've always wanted as soon as I get licensed and on with a brokerage. I'm curious what kind of jobs you folks worked while getting the ball rolling? Thanks! [link] [comments]  |
| Posted: 01 Nov 2019 11:24 PM PDT First time home buyer here with a potentially dumb question.. My realtor recommended a great local lender with glowing reviews, whom they also have a long history of working with. We got together and really hit it off. This was after weeks of researching other lenders/banks/credit unions etc., so I was relieved to say the least. We've sat down a few more times and I'm really looking forward to working with the two of them. Due to my current situation, I won't be pulling my credit/initiating this process until December. When that time eventually comes around, is there a proper way to say, "hey I might take your rate and shop it around." Idealy, I would like to move forward with this lender, but I'm also trying to get the best possible rate/closing costs. As the title suggests, is there a normal way to go about this? Thanks in advance! [link] [comments]  |
| Pandora of Reddit, do you ever give gifts for the holdays? Posted: 01 Nov 2019 03:49 PM PDT I have a few tenants who have been absolutely great pay on time every month, keep my properties in impeccable shape and are dream tenants. I was thinking of giving $50 or $100 gift cards for the holidays this year. Some have told me if you give them an inch they will take a mile while others have told me they will appreciate it. So landlords of reddit who have given gifts to tenants, what has been your experience? [link] [comments]  |
| Should i buy a brand new apartment "off the plan" or something already built? Posted: 01 Nov 2019 09:37 PM PDT So I am about to put my house up for sale, I bought a 4 bedroom house in the outer suburbs of Melbourne (VIC, Australia) with my Ex and we split up not long after. I have been staying here by myself for the past 2 years going crazy waiting for the right time in the market to sell which i think (hope) is now. I was initially going buy an already built apartment or townhouse but I today i checked out a new development, which at the moment is just a sales office on a block of land. There is a loft style 1 bedroom apartment for sale but not due to be complete until Dec 2020 at the earliest. I dont know anybody personally that has purchased a property this way so I just wanted to know if anyone could give me any insight into whether this is a good or bad idea, if there has been problems with delays or shoddy construction or things not turning out as planned? They have asked for a 10% deposit which i can do, but its going to take a "deposit bond" and a bit of upfront cash also as my current place hasnt sold yet. [link] [comments]  |
| Best way to list a property in China? Posted: 01 Nov 2019 08:11 PM PDT Hi guys, I'm listing my property for sale through an agency. 1 month campaign followed by an auction. Fairly high end estate property. Keen to tap into Chinese market. Anyone know an easy way to advertise there? [link] [comments]  |
| Trying to sell my deceased Father's home Posted: 01 Nov 2019 01:01 PM PDT Hi everyone, just wanted to see if I could get some advice on what I should do to try and sell my Father's house. The basic backstory is my Father passed away back in January. I had found out through the city where he lived that his home had been inspected by a city inspector and was found to be condemned and unlivable. Not a big deal as no one was planning on taking over and living in the house so it sat there for 2 years. Recently I was contacted by a realtor about seeing if i was interested in receiving a cash offer for the home. The real problem that lies here is I have no clue where the deed to the house is. My worry is 1) I technically dont own the home and 2) by trying to sell the house would I be assuming ownership and therefore have to pay all owed back property taxes before Im able to proceed with selling it. Any advice on what my next steps should be would be greatly appreciated! [link] [comments]  |
| Posted: 01 Nov 2019 02:27 PM PDT |
| Hold, sell or seek investment partner or fund Posted: 01 Nov 2019 05:39 PM PDT I'm seeking direction on what to do with a 100 acre freehold vacant property I will inherit in rural Fiji. I am living week to week on a paycheck and would like to get ahead financially for once in my life. I've tried to find investors who would be willing to create some sort of eco tourism project, but although I've had some interest nothing ever comes to fruition. I was fortunate recently that my parents paid for a trip so I could visit the place (I live in Australia) so I was able to vlog some of my experience over there and take some footage of the property. Link is here if anyone wants to see what the property is like. I'd love if anybody has some creative ideas as to what I could do. [link] [comments]  |
| How To Sell A Home As The Owner (Details In Post) Posted: 01 Nov 2019 05:28 PM PDT Forgive me for the formatting, also I apologize if this is the wrong sub for this type of post. As it stands I own my Condo outright. I currently have a HELOC for the property (Roughly 50K). The property is valued by the state at 120K based off of my annual property taxes. To clarify I live in Washington state. My question(s); 1) if I want to sell my home without a realtor, where do I start? 2) am I able to sell the property with the HELOC or does that get factored into the sale of the property? [link] [comments]  |
| Random text regarding my parent’s house, scam? Posted: 01 Nov 2019 05:01 PM PDT I received a text from someone asking about my parents' house and want to buy it. We didn't list it anywhere and I shouldn't be listed as the owner or anything, how did they get my phone number? Should I reply in cases like this or ignore? [link] [comments]  |
| Rent Rate for Roof Lease for Radio Antennas [AL/TN Valley] Posted: 01 Nov 2019 01:12 PM PDT I x-posted this to r/commercialrealestate. We got an offer to lease our roof space to a technology company that wants to put small radio antennas on. Does anyone have any experience on value or rents for this type of lease? By comparison, commercial rents are going for $10-15 PSF. Also looking for guidance on any unusual but necessary provisions to put in the lease, or any problems that we may encounter. We're looking at it like free money but we don't need any headaches either. TYIA [link] [comments]  |
| What is the best way to find pocket/whisper listings? (Seattle) Posted: 01 Nov 2019 04:19 PM PDT I stumbled up on "Whisper" listings while reading a blog about home buying. Until today I assumed that only way to buy/sell a house was trough MLS. How would one go about finding off-market listings? A simple google search shows multiple realtor agencies advertising about finding potential off-market listing. However, none of them have any reviews. How would I go about searching for a good realtor who is an expert in selling off-market listings? Would it be mentioned as a category on Zillow? I hope there is a better way than meeting multiple agents and figuring out who is the best. If there's any tips on finding off-market listings or finding good agent who is good at off-market listings, please share! Thank you everyone who contributes good advice on this sub. I've learned and benefited a lot from all of you. [link] [comments]  |
| Is it common to have a NNN lease that doesn't have a base NNN rate defined in the lease? Posted: 01 Nov 2019 02:48 PM PDT Looking at leases on an office warehouse complex and the realtor (same realtor for all ~20 units) has structured the leases as what appears to be NNN. The lease has a defined base rate and an Expense Reimbursement Addendum showing the tenant being responsible for their pro rata share of Real Estate Taxes, Insurance Premiums and CAM expenses as an end of year lump sum or an estimated monthly portion if directed by the landlord. All pretty standard stuff, but no where in any of the leases has he specified an expected NNN amount outside of it being relative to a particular year. Long story short... the elderly property owner wasn't aware that his leases called for him to submit an annual reimbursement invoice to each tenant and apparently all the tenants are now under the assumption that their total rent is solely the base rate (despite what their leases state). We'll send notices of intent to enforce moving forward starting Jan 1,2020. I was just curious if this is a common lease structure or just poorly formatted in not stating a base NNN owed as part of the monthly rental? [link] [comments]  |
| Who gets the Earnest Money? {SC} Posted: 01 Nov 2019 01:55 PM PDT We're selling our house. Entered into a contract. Buyer was pre-approved and put down $2k in earnest money. Prior to inspection, the buyer could not secure the funds to purchase the house and are withdrawing. No other contingencies on the house. Do we get to keep the earnest money, generally? Our agent said we don't, my attorney colleague says we do. The obvious caveat is that it depends on the contract. [link] [comments]  |
| Posted: 01 Nov 2019 01:51 PM PDT We live in the SF Bay Area. There is a house we might put a lowball offer for as it has been sitting on the market for awhile. The home itself is decently large and nice, and has a large lot. One major problem with the house in general is that the lot is extremely unlevel - high grade. We wanted to put in a large deck maybe 500-1000 square feet and were wondering how much this would cost on unlevel ground in the SF Bay Area (a hilly city) - unpermitted is fine. Could we do this ourselves or would we need to hire a professional? How much would it cost - we are in an expensive part of SF Bay? My husband is decently good at DIY projects and fixing things. Of course we have never built a deck on unlevel ground. [link] [comments]  |
| Posted: 01 Nov 2019 11:17 AM PDT I am in the process of selling my home. I was just informed that my buyer is adding another name to the mortgage. Typically how long will this delay the seller from receiving their commitment letter and closing? I am in NY if that matters. [link] [comments]  |
| Sellers not willing to do any repairs; does this seem legit? Posted: 01 Nov 2019 10:31 AM PDT Received the seller's response to our repair requests today, and I'm wondering if we'd be making a mistake accepting their explanations. For context, home is in Texas and both my husband and I and the seller are out of state (yay military). I've seen the house once and was unfortunately not present for the inspection. We have already rearranged the sale of our current house to suit these sellers, and are paying list price and splitting closing costs. They refused to negotiate price, which is, according to the appraisal we just got back, $5k under its value (but they don't know that unless they had their own appraisal done). The house was built in 2010 and appears to be in good shape; we asked for four items from the inspection report to be fixed, but I agree with the seller's response on two. I'm unsure about the two below, however:
My realtor is going to have a roofing guy she knows look at the roof, but I'm concerned about the rust-colored hot water, especially considering how hard the water is in Texas. Is this as easy of a fix as the seller is saying? ETA: My concern is that I'm letting their unwillingness to compromise on the price/closing cost/closing date influence my reaction to this response, if that makes sense. It just feels like they're getting whatever they want and we're bending over backwards to accommodate them...shouldn't they pay a plumber to flush the water heater for us? [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