Upstate NY Senior couple need to sell old home fast! Advice needed. Real Estate |
- Upstate NY Senior couple need to sell old home fast! Advice needed.
- Realtor did not diclose condo repairs. Noise is unbearable.
- Final 2 weeks of contract, might get job transfer, backing out?
- Pros and Cons of Long-term rental versus Vacation Rental
- I appreciate each and every one of you!!!
- Being your own GC versus hiring someone
- Help! Buying new construction and selling current home
- Looking for something else in RE
- First Time Purchasing New Construction, Inspector Found Code Violations. Advice Needed
- Other options for reno+purchase loan beyond the 203K?
- Are people pricing their home based on Zestimate?
- My Opendoor Experience with a crazy turn of events
- Shopping for Mortgage - Rate vs APR?
- [FL/Future Agent] Programs/Services to look for on Black Friday/Cyber Monday for good discount deals?
- Closing issues with Pulte Homes
- Question regarding Pre termination clause
- Help! Closing on a new condo, do I need “title owner’s coverage”?
- Difference between real estate sites? [CANADA]
- History behind TICs
- [SF] Should I get a part-time job while beginning my R/E career?
- Semi Buried Oil Tank. Need advice
- Curious about rent increases in Toronto after a building is finalized?
- Trying to track down history on a Redman Homes inc. manufactured home. And figure other things out.
- How to handle buying a new home when they have lease-to-own tenants?
- Is Real Estate the right career move for my current life situation? Any advice is welcome
| Upstate NY Senior couple need to sell old home fast! Advice needed. Posted: 26 Nov 2019 01:21 AM PST My husband (71) and I (67) need to sell our home fast, due to an emergency situation. We live in a rural area 45 minutes north of the city of Syracuse. Two negatives against us: it's winter .... and the main house is not livable. There's 1 1/2 acres, and 2 (sheds turned into tiny houses) on the property. Sheds have no plumbing. Please advise on the best process to sell quickly. TIA [link] [comments]  |
| Realtor did not diclose condo repairs. Noise is unbearable. Posted: 25 Nov 2019 12:37 PM PST Hi all, Here's my predicament: I live in Florida, and just recently moved into a condo that I will am renting (to clarify, me renting from the owner). The very first morning I hear heavy drilling and come to find out that they're doing repairs on all the balconies, going line by line. It's expected to last over a year, with me having significant noise about 6-8 months of that. I work late, often getting home at 1-3 am, and construction goes 8am-4pm. I can't sleep through it, even with earplugs, and they haven't even come to and passed my row of balconies yet. (Meaning for a month or so they'll be scaffolding my own balcony and the noise will be more intense). The realtor did not disclose that these repairs were occuring. I didn't ask because its a fairly new condo barely 12 years old. I did ask about how long the rooftop pool would be closed but that's because of a sign showing it's inaccessible for repairs, but nothing of significant noise and balcony refurbishing was mentioned even though ownership has known for a substantial amount time. What options do I have? [link] [comments]  |
| Final 2 weeks of contract, might get job transfer, backing out? Posted: 26 Nov 2019 01:41 AM PST Im in contract to buy but may have to move for a job now. If i back out i'm losing my deposit, right? Already got loan approval letter. [link] [comments]  |
| Pros and Cons of Long-term rental versus Vacation Rental Posted: 25 Nov 2019 10:07 PM PST Just interested in having insight from others about pros and cons of each, not necessarily which is all-around better since that's dependent on so many variables. Let's assume I could buy something for a similar amount of money in a location that's equally good for either market, and that I have plenty of time and flexibility in my schedule to do repairs/maintenance and checking in, and that I enjoy working on and maintaining buildings. What are some advantages and disadvantages of each type? So far here's what I've noticed from observing others: Long-term: getting and keeping good tenants is key and not always easy, evicting bad ones can be hell, dealing with difficult tenants without grounds for eviction sucks, profit isn't always stellar, maintenance happens, but otherwise relatively hands off and can feel great when you are serving a community of good renters Vacation: must reset and clean after each stay, have to trust third party booking site or spend tons of time scheduling, parties could trash the place and then be gone (yes there's insurance but still the hassle), if tourism declines it's rough, maintenance happens, but less commitment or vetting required than for long term and you can use the space when it's not booked, as well maybe make it fancier and more interesting looking for the novelty value. What do y'all have to add? [link] [comments]  |
| I appreciate each and every one of you!!! Posted: 26 Nov 2019 01:07 AM PST I just wanted to say thank you to everyone in this community. I've learned so much in such a short period of time and everyone is always willing to answer questions in depth. You guys/gals have been my greatest asset. This sub, @realestateinvesting and @landlord have been my holy grail. Again, thank you!! Yall are awesome!!!!! [link] [comments]  |
| Being your own GC versus hiring someone Posted: 25 Nov 2019 07:27 AM PST I'm currently building a house. I hired a builder. I'm finding that I'm also spending a lot of time managing the project and I'm questioning what value the builder is bringing to the table. Presumably, it's know-how/experience/expert project management. I'm an experienced project manager but not in construction for the most part. Conversely, I'm also wondering how much I should expect to save if I build the next house myself and directly hire the subs (assuming I do most things correctly and am able to get the subs). Any thoughts? [link] [comments]  |
| Help! Buying new construction and selling current home Posted: 26 Nov 2019 03:46 AM PST What's the exact process like buying a new construction home that haven't even broke ground yet? When we put out an offer, does it include upgrade credits? How much below sticker price should the "base" home be? The base price they showed was $370k, but the ones that are under contract with upgrades are at about $370k too? A little more background: this is our second time buying a home, but we left a lot of money on the table first time around because we blindly trusted our agent. We'd like to do more research be prepared beforehand this time. We saw a townhouse community construction site at the perfect location (close to work and up in coming area) and within budget (under 400k), but it's not an inventory house and will be available in 6 months. If I'm understanding this right, we would put in an offer with all the demands up front (closing cost incentive, upgrade credits, anything else we should ask?), then there's a non-refundable deposit, and finally closing in six months right? Is it at the closing day mark when we put the full 20% down payment and start paying the monthly mortgage? Selling the current home would net us enough to cover down payment, but this would only work if we sell before closing on the new home right? Thank you so much! [link] [comments]  |
| Looking for something else in RE Posted: 25 Nov 2019 11:37 PM PST Hi everyone, so basically I got my agent license and became a realtor a few months ago, but I want to do something different in the field, maybe catering to the insane amount of realtors in my area (SW Florida), but something with income right away, whether self employed or job, I'm starving. My mid-long term plan is to purchase income properties little by little starting in two years (need income/experience in the field first to qualify for mortgage). I have my bachelor's degree in Business Management, but never found a job in my "field" (I'm 25). I looked into becoming a loan originator, but I think there might be better paying options that I don't know about, since maybe having a degree will hopefully open more door. In the past I looked into becoming a Business Analyst, but I'm trying to stay in the Real Estate field. Any suggestions as to what I can do, job or gig, in order to make start making some money? I'm broke and have a bunch of debt. Sorry for the long post. [link] [comments]  |
| First Time Purchasing New Construction, Inspector Found Code Violations. Advice Needed Posted: 25 Nov 2019 08:26 PM PST All, I'm in the process of purchasing a new home, and there is a clause in my contract with the builder that I can walk away from it if there are code violations they are unwilling to fix. Today, the inspector came out and found four times that were not built to code: 1) One side of the first floor bathroom toilet is less than 15 inches away from the wall. 2) The main breaker panel outdoors near the AC units doesn't have enough clearance in front of it since the AC units impede. I'm looking at the pictures and it looks fairly accessible but doesn't fit the code of an imaginary volume cube in front needed for safe clearance. 3) I have no idea what this one is, but inside of the breaker panel box, there is a ground buss that should have a wire bonded from it to the neutral buss bar. I have no idea what this means, even from the photos. 4) The tankless water heater still has some tag on it that should have been removed during installation. Because of this, the inspector cannot prove the gas line was tested after install. So my questions around these items are around severity and next course of action. Obviously the builder will try and fix these. The toilet issue in #1 isn't that big of a deal to be because it's one inch off, but the other three are slightly concerning. Are any of these issues large enough to where it's worth it to walk away if the builder doesn't fix it? [link] [comments]  |
| Other options for reno+purchase loan beyond the 203K? Posted: 25 Nov 2019 03:14 PM PST We're looking to buy a house and we'd like to finish the basement, add a deck, and make a new kitchen (a lot of work). It seems like the 203K loan has a lot of baggage (HUD consultant/PM, a lot more paperwork/documentation for the contractor). Are there other loan products and lenders that include the renovation and purchase together? [link] [comments]  |
| Are people pricing their home based on Zestimate? Posted: 25 Nov 2019 10:03 AM PST I have noticed in my town most houses are priced at and sell for very close to their zillow estimate. Usually a 10k window. Many houses that have lingered are priced considerably over it. Like 30- 40k over. [link] [comments]  |
| My Opendoor Experience with a crazy turn of events Posted: 25 Nov 2019 08:28 AM PST This one is a little long, but a good read for those thinking about going through Opendoor. We have been happy with them for the most part. Our house was built in 1994. We bought in 2012 as the 2nd owners and after 2 kids and being busy all the time, we didn't take care of the house as we should have and had some major work that needed to be done for a house that age. We had exterior wood damage all over, the carpet on stairs and upstairs were in bad shape, interior needed paint, etc. Easily $10-15k worth of repairs. We could have done these repairs, but chose to look at Opendoor to reduce the hassle of doing the repairs, having to be ready to show our house at any time once on the market, which would be hard to do with pets,kids, etc. My house in a traditional sale with everything fixed would go for roughly 250k at max, probably closer to 240k comparing comps on my street, neighborhood. I asked Opendoor for an offer and they came back with $242,400, which was more than I was expecting, considering my neighbor who had similar wood damage and carpet issues old his house with a traditional realtor for $217k. Opendoor's offer took about $17k in their fees and closing costs. So after those fees, we ended up at around $224k. We signed the papers and got the process started. They told us that at any time, we could still back out at this point. I spoke with someone about 2 days later on getting someone to come out and look at the house to see what repairs would be needed. They send out their guy, a roofing guy and an HVAC guy. I had them scheduled for a few days later. The opendoor guy came out right on time and he was there roughly 3 hours. No roof or HVAC person ever came out and it was just him. I didn't need to follow him around and he just did his own thing, took notes, measurements and left. Pretty easy experience. About 5-6 days later, I got the estimated repair costs. The opendoor guy told me when he was at my house that he doesn't determine repairs, he takes pictures, etc and sends them off to an estimator at Opendoor HQ. That estimator is on the one who gives the actual repair number. They came back with a total of $900 for some paint and that was it. My wife and I were stunned, as we were expecting a number around $10k or more in repairs and had been preparing for that possibility. I honestly thought of calling them to see if it was a mistake, but obviously decided not to. Once the repairs number comes in, we signed into our account on Opendoor's site, and signed the addendum right there. To make a note, Opendoor said we could back out if the repair costs were too high. After we signed however, its harder to back out. After we signed our repair addendum, we picked a closing date of about 2 weeks later (trying to time the closing of this house and the closing of my new home). We also opted for late-checkout. Opendoor wants to do 1 more walkthrough of your home before closing and they want the house empty. If you do late-checkout, they will still do the walkthrough before closing, but you don't have to be all the way out yet. It was $140 per day. We got 2 days for free because we were working with a homebuilder for our new house and Opendoor and DR Horton have some sort of back-end deal to get that extra 2 days. To get that, they hold $1000 of your proceeds in escrow and release it 5 days later after you are fully moved out and they do 1 more walkthrough (more on this later). We scheduling closing to occur on a Thursday and our new home on Friday, to ensure we had proceeds from the sale that were going towards down payment of my new home. We had Opendoor come out Tuesday before closing to do the "final" walkthrough. The Opendoor guy showed up early and took about 5 minutes. He took some pictures and was gone, nothing to it. Closing was easy. Opendoor doesnt even show up, they just sign docs ahead of time. We sign and get proceeds and are on our way. Very simple process. We had a late checkout plus the 2 days I got for free. So this means I had to be out completely by Sunday at 5pm. Movers came out Saturday, moved everything we had packed and all the big stuff. Sunday, we were coming back early to finish up, vacuum, sweep, etc. They arent expecting the place to be top-to-bottom clean, but at least swept, vacuumed, etc. So Sunday, we show up at around 9am to get started. We were there about 5-10 mins when smoke started pouring from downstairs to upstairs. Got the kids and my wife out and somehow a box on the stove (dumb that it was there anyway) had caught fire. Not sure how the stove turned on, but it did. I was able to put the fire out, but it burned the microwave above the stove, the drywall, some cabinets. This all happens literally HOURS before we are passing off the keys for good. Couldn't have been worse timing. Fire dept comes out and checks everything, write their report and they are done. I try to call our closing manager for opendoor, no answer. I call their 800 number and get someone on the phone. I told him the situation and he tells me he is going to text me and to attach pictures of the damage. So I get the text, attach the pictures and then nothing. No email, call, anything from Opendoor the whole day. We finish gathering our belongings and leave. Someone is supposed to come at 5pm to get the keys, but no one ever does or communicates to us that they are not coming. So we don't stick around. Monday comes around and I finally get a call in the afternoon from the closing manager. He says he is sending someone over to look over the damage and they'll let me know from there. At this point, i'm freaking out a little, worrying that I would have to pay the costs for damages, even though it was accidental and we didn't technically own the home at this point. Didn't get a call back from them until the next Friday. He says the damages came out to about $1000, so they are going to keep my escrow hold (from earlier) and we'll call it a done-deal. I was honestly just ready to be done with the process so I said to go for it. Got that in writing and we called it done. Overall, it was a good experience with them. Communication was a bit lacking, but the offer and everything else was really good. I would recommend them for sure. From start to finish, took about 3 weeks. [link] [comments]  |
| Shopping for Mortgage - Rate vs APR? Posted: 25 Nov 2019 05:21 PM PST Using Zillow''s rate tool. I got a result that was 3.125% and 3.823% APR with $862 lenders fees. What's the difference between rate and APR? Also- I'm wondering if that is a better deal than a rate of 3.5% and 3.625% APR with $0 lender fees. If it makes a difference, this is for a 30 year loan, $270k house with around 12-15% down, perfect credit history (Around 800) and plenty of assets to back up the mortgage (~100k). Thanks. [link] [comments]  |
| Posted: 25 Nov 2019 11:11 PM PST Hey there, Currently in Florida working on getting my license, hopefully will pass both exams and be up and running by January 1st. Have a quick question, with both of these days coming up, is there any programs or services that I would eventually be paying for that I could possibly look for deals on during Black Friday/Cyber Monday that I could possibly just get a discount for something that I would be using in the future? Only thing I personally know of as an example would be like RedX. Thank you! [link] [comments]  |
| Closing issues with Pulte Homes Posted: 25 Nov 2019 07:01 PM PST We recently purchased a new construction home with pulte. We upgraded our appliances to Kitchenaid from whirpool and paid extra. 2 weeks before closing we noticed that they installed a different kitchen-aid gas range than what was in the contract. Now construction manager is saying that the gas range is discontinued and cannot do anything about it. Although I understand that the range is discontinued, I am pissed that they did not bother to inform us so we could have a say in what was installed in our house. I agree that he cannot get us a discontinued model, however I found a better model for lower price and would have chosen that (and paid the agreed upon contract price without change). Is there anything we can do about it? Please advise. [link] [comments]  |
| Question regarding Pre termination clause Posted: 25 Nov 2019 08:19 PM PST Hello guys, i would just like to get some clarity regarding the Pre-termination clause of our lease agreement: "The Lessee will be allowed to pre-terminate the First Renewal Agreement at the end of the 3rd year of the renewal lease term subject to six (6) months prior written notice duly received by the Lessor, which can only be served at the end of the 36th month of the renewal lease term at the earliest" Out contract was renewed last June 21, 2017 and will end June 21, 2022. Does this mean we can preterminate on June 21, 2020 and just send an advanced notice OR we can only send a 6 months advance notice after June 21, 2020? Thanks for the advice. Apologies English is only my 2nd language so sometimes it gets confusing. [link] [comments]  |
| Help! Closing on a new condo, do I need “title owner’s coverage”? Posted: 25 Nov 2019 04:26 PM PST Hello, I am about to close on a newly built condo unit in a new building in Brooklyn, NY. No one has ever lived there so I am womdering do I need to purchase "title owner's coverage"? Since this is for when someone sues and says they have a claim against the home from before the homeowner purchased it, would I need this if no one has ever lived there? It will set me back $2,400 which quite frankly I'd rather not pay unless I absolutely need to. Can you give me your thoughts on this? Thanks im advance! [link] [comments]  |
| Difference between real estate sites? [CANADA] Posted: 25 Nov 2019 06:12 PM PST So at first I was thinking that firms might have a site for their own listings but now that I've been looking around, sites like jj.team have all the real estate listings that I can find on realtor. I originally signed up for a jj.team account before I moved on to realtor and have since then been getting emails from the team on what I'm looking for. Should I ditch them and just focus on contacting the real estate agents that listed the properties I'm interested in on realtor.ca? I know I sound dumbfounded but I'm new to this. [link] [comments]  |
| Posted: 25 Nov 2019 11:35 AM PST Anyone here able to shed some light on the history behind TICs in markets like San Francisco? Why were they created in the first place? What problems were they trying to solve for? The idea of fractional ownership in a building seems a bit bizarre to me. In a place like San Francisco, TICs function similarly to condos, yet have restrictive rules around sales and less favorable financing terms. Seems like they're actually more troublesome to their owners and I'm unclear on why they aren't all converted to condos... [link] [comments]  |
| [SF] Should I get a part-time job while beginning my R/E career? Posted: 25 Nov 2019 04:49 PM PST Hi there folks! I'm a 23 y/o male newly out of college (about 1.5 years) with a college degree. Living in SoCal rent free w/ parents and working full time selling on eBay. No debt thankfully. I'm currently considering a move to the Bay Area (specifically east bay) to practice R/E. Almost done with courses and soon to be licensed. I've already made connections with a reputable brokerage, and have a good network of people who I can lean on (family, significant other and friends) I'm thankfully getting a killer deal on rent, where I'd pay ~$400/month in a nearby area (~15 min away). I have about ~$3500 in savings and $1600 in a checking account. Financial responsibilities include: $200/month car insurance (car paid off) ~$50/month in phone/entertainment (Spotify, etc) I'm wondering if you all would consider getting a job (Temp, full or part time) while I go through training and begin my R/E career? I'm open to any option and I understand the start up cost can be expensive, not to mention the COL in the Bay Area. What are your thoughts? [link] [comments]  |
| Semi Buried Oil Tank. Need advice Posted: 25 Nov 2019 04:30 PM PST I am in the process of buying a house. It is an older house (built in 1920s), and has oil heat. We did the inspection this weekend and the inspector noted a concern in the oil tank. It is not elevated off the ground and therefore it is impossible to tell if it is leaking and there are other associated issues that could arise from this, as I understand it. I am trying to brainstorm solutions to remedy this or see if I should just back away from the house. A bobcat or other machine is not an option because it is located under a deck with limited overhead space. Any help is greatly appreciated! [link] [comments]  |
| Curious about rent increases in Toronto after a building is finalized? Posted: 25 Nov 2019 11:09 AM PST Hey everyone, I'm looking for some advice here. I have my eye on a unit in downtown Toronto, it's listed at $2,000 currently, but the building is still being finalized and certain amenities such as the pool won't be done for another year. If I chose to live there for another year after this, what would the likely hood of the landlord jacking up the price higher now that there are more amenities within the building? I'm looking for a place long term that will serve me for 2-3 years, so I'm a bit worried if I jump on this place now, that I'll be priced out when its time to renew. Thanks in advance! [link] [comments]  |
| Trying to track down history on a Redman Homes inc. manufactured home. And figure other things out. Posted: 25 Nov 2019 08:52 AM PST I have a client who has to deal with his fathers estate. The home is a manufactured home from Redman Homes in 1981. Since it is an estate we have very little information on the house. There is a 12 year gap between when the land was first purchased and this homes title was eliminated. We had an engineer come out and without doing a destructive test said that "The lag bolts located on the underbelly of the home have insulation that looks agitated which gives evidence that the lag bolts were possibly replaced which in turn could be evidence that the home was moved. We had it under contract with people that had funding with a conventional loan. The deal fell through because they would not finance a home that has possibly been moved. How do I figure this out definitively or not? ANY ideas would be much appreciated. The deceased owner of the home had a ton of work done to the house, deck and fences done (all permitted and done correctly), kitchen remodel, new roof, replaced furnace, water heater, and got a gas fireplace, he had the entire houses clean water piping redone (which i could see would be a reason for the insulation in the underbelly to be messed with. Wouldn't the water lines in a manufactured home run down the middle of the underbelly??? Thanks for any responses ive been digging for information for so long now I am afraid my clients are going to think that I dont have the experience needed to get this deal done. Which in all honesty I have talked to about 75 people who have no idea what half of the things I am talking about are. [link] [comments]  |
| How to handle buying a new home when they have lease-to-own tenants? Posted: 25 Nov 2019 02:39 PM PST There is a home close to me that the renters would like to sell and move back to be close to their family. They've only been there about 2 months. The problem is they want $10,000 for the down payment that they did for lease-to-own and $5,000 for repairs and work. I cannot work directly with them to buy the house because they don't own it, right? I also cannot bundle the $15,000 into the mortgage because they would not get it (the current owner would). What do I need to do to get past this? Don't most people just lose their down payment if they did this on a rent-to-own? Thanks. [link] [comments]  |
| Is Real Estate the right career move for my current life situation? Any advice is welcome Posted: 25 Nov 2019 02:25 PM PST I've always been interested in Real Estate and being a Realtor like my mother. She recently has been physically handicapped and I was finally about to pull the trigger to get my Real Estate License because all of the work she's been offloading to coworkers could be to me and be a nice way to ease me into the business. I'm a college graduate and I live in New Orleans, Louisiana. However, I'm in a relationship with someone who doesn't want to live here much longer. I don't currently have a job, but I have a ton of money saved up and I was going to take the courses this January. My main question is this: How transferable is being a Realtor when it comes to moving across the USA? I don't have a location now, but I know we won't be here within the next five years. If money isn't an issue for me right now, would it be unwise to take the course and get my feet wet in the business the next year or so just to move somewhere else and have to build up a reputation there? How hard is it for someone who knows what they're doing to leave a city and move to a new one to maintain success? This is something I've been interested in for a very long time, and I feel like I might be in the wrong spot to pursue this career change. What do you guys think about my situation? I'm not going to do halfway jobs. This is something I know I'd enjoy and I know I'd work hard at. I'm just concerned about having to reset my life completely if I were to move in a year or two after selling here at home. Any input is welcomed. [link] [comments]  |
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