Selling my house by owner. Got an offer from an LLC and am a little concerned. Real Estate |
- Selling my house by owner. Got an offer from an LLC and am a little concerned.
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- Down-payment and mortgage questions specific to my situation (1st time homebuyer, HCOL, flush with cash)
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- Is becoming a Realtor, not just an agent, worth it
- after the home inspection, we asked the seller to upgrade the panel from 70 to 100 amps and they did it. Now I want to check the electrical panel again (to see if the upgrade was done properly)
- Buying a House, Notice to Vacate, and Medical Emergency. Please Advise!
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- Purple Brick / Comfree Thoughts
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- How would you feel if you found out you're living in a murder house?
- Advanced real estate books?
- First time home buyer, crazy long inspection
- Seller agent asking buyer to bring pre approval letter
- How timely do you expect your agent to respond to you??
- Credit back more than down payment?
- Appraiser conflict of interest?
- Easement?
- How to find out more information about a foreclosed property
- Anderson, IN duplex. Should I invest?
| Selling my house by owner. Got an offer from an LLC and am a little concerned. Posted: 04 Dec 2019 04:32 PM PST The buyer said that her attorney is going to write out a sales agreement and will be ready by the end of the week. She has given us a very simple letter of intent already and will pay $1000 in earnest. I plan on having an attorney look over the sales agreement when it is ready. I guess my question would be are there any red flags I should look out for on the agreement? I would really like to avoid paying a $500 retainer fee if there's something obviously sketchy with the contract. Thanks in advance. [link] [comments]  |
| Investors, what was the worst RE investment you’ve made and the best? Posted: 04 Dec 2019 11:41 PM PST |
| [AUS] Agents Representative Course Posted: 05 Dec 2019 01:39 AM PST Where is the best and quickest place to complete an agents representative course? Im looking to get into property management and this is a prerequisite, thank you! [link] [comments]  |
| Posted: 04 Dec 2019 06:59 AM PST Found a small investment property for 148k, 1050sqft. When we went to go see it, another agent with clients came shortly after us. I mention that to indicate there was a lot of interest in it. I think. Over next 2 weeks a bidding war starts. We offer 135k based on comps, and are outbid to 143k. We go up to 144k and are outbid to 149. We give 150k and are out bid to 155k. When asked if we want to counter, we say no. Weird how counter bid went up by 5k+ each time? 3 days later we get told seller wants to sell to us because they dont think home will appraise for 155k. I ask why us when she had a buyer willing to pay more. My agent says seller thinks there will be a smoother transaction with us. The other buyer apparently had a contingency but was willing to remove it (wanted to sell another property first). I ask my agent straight up if she thinks there was no actual counter bids and the seller was making it up. Keep in mind at 150k, the home is being sold as is. A comp 3 doors down sold last week for 155k completely flipped. Two issues: 1. The whole thing smells fishy, why would seller come to us when she has someone bidding higher and is willing to remove their contigency? Can I lower my bid back down? Should I just say no longer interested. Edit: Thank you all for your insights. I ended up lowering bid to 140k but my agent recommended just pulling out as she thinks seller will just go with other buyer. Edit 2: I asked my agent why withdraw and not just offer lower bid, she says she did make it know I was only interested at 140k as I was unhappy with negotiations. Tbh i wasnt unhappy with the negotiations as much as I just think it was overvalued. [link] [comments]  |
| Vancouver real estate - what are your thoughts on the market here in the next 5 years?! Posted: 05 Dec 2019 04:20 AM PST |
| First time home buyer - am I missing any catches with this mortgage rate? Posted: 04 Dec 2019 12:21 PM PST We have had an offer accepted and are securing financing for a $1.25M mortgage loan in the Bay Area. The rate offered to us right now (30-year fixed) is 3.25%, no points, PMI, rate lock, application or origination fees. This is from a big bank, and we have other quotes from credit unions/Costco/online lenders that either include points, high origination fees, or generally higher rates (in the 3.7-8% range). From the loan estimate, it doesn't look like the lender is taking any fees, and the rate seems a LOT lower. Maybe I should be counting my blessings but I feel like there must be a catch I'm not seeing and we'll end up paying somehow. I know there will be appraisal and title fees and fees to the escrow company (whichever lender we go with), but it's not clear to me how this makes sense for the bank to charge basically only the interest, at a lower rate than everyone else, so I'm wondering if I'm missing something here, or if I should just lock and run with this rate. Pertinent details -- we both have good credit (780 for lower in come earner, 730 for higher income earner due to newer credit), we are putting a large amount down (>20%) and we've got plenty in reserves across investment + retirement accounts. [link] [comments]  |
| Posted: 04 Dec 2019 02:48 PM PST Hi, I've searched the group (and r/personalfinance among others), and I'm asking these questions for my specific situation. Please see below the questions, and specific context. I live in a HCOL area (Washington, DC).
Thanks for any advice. [link] [comments]  |
| Looking for a builder in seattle area Posted: 05 Dec 2019 12:33 AM PST Hi, I am looking for a builder in seattle area who will buy the land, get required permission and build the plan we selected and then sell the home to us, I know several builders do this is east coast, How do I find a builder who does this in seattle? [link] [comments]  |
| Is becoming a Realtor, not just an agent, worth it Posted: 04 Dec 2019 06:19 PM PST Will be starting out soon and am torn on the issue. I have heard, though, that in some areas, to gain access to MLS, you HAVE to be a Realtor. Not sure how true. Thoughts on the benefits of becoming one or if the public has ever cared about that title [link] [comments]  |
| Posted: 04 Dec 2019 11:35 PM PST i dont know anything about this electrical systems so Im going to ask the home inspector if he can come out again to check it out. is it possible he will do it? ive already paid him for the service after the home inspection if he doesnt do it, ill have to get an electrician to look at the service panel. do you guys think all the real estate agents from both sides will show up for this quick inspection? [link] [comments]  |
| Buying a House, Notice to Vacate, and Medical Emergency. Please Advise! Posted: 04 Dec 2019 07:27 PM PST I'm very confused about what steps I should take and not even sure if this is the right sub. Long story short: Went under contract on a house, experienced a severe medical emergency the next day and have been out of work but secondary income was all that was used for loan approval, huge medical bills piling up including costly prescriptions despite good insurance, struggling to deal with apartment. Last week I asked the office manager if I could delay a week to pay December's rent and final fees (I'm leaving lease early) so I could speak to realtor and reorder finances and she agreed (not in writing, I'm dumb) but warned me of the late fees. Today I came home with a notice to vacate within 3 days. Closing is next week. I have (had?) every intention of paying what I owed though I hoped to request a modified payment plan but now I have no idea what to do. I spoke with the office manager again and she stated only the lease mattered, not any conversation we had, and that I had three days to vacate and pay my bill. Apparently there is no option to pay and avoid being required to leave. I've never paid a bill late in my life so this is humiliating for me, not to mention terrifying to grapple with the idea of being homeless for a week while also dealing with a medical issue. It's hard to think clearly and rationally right now. I've tried to google and it seems like technically they can't just throw me out on the street without a court order, but this notice to vacate still clearly says I need to be out in three days, plus I still owe X amount. Friends have told me to just ignore it, don't pay, close on my house and turn in my keys and then address it all at a later date which would make it easier to negotiate a payment plan and maybe even a lower amount. Apparently this is a common method people use when having late payments? I've worked all the numbers and it doesn't make financial sense to walk away from this house. Please, I need good unbiased advice on what to do. [link] [comments]  |
| Best app for the iPhone to look at international properties? Posted: 04 Dec 2019 11:07 PM PST I'm looking for an app where I can browse international properties, is there such a thing? I'm having a hard time finding one. TIA [link] [comments]  |
| Posted: 04 Dec 2019 10:18 PM PST Do you write anything about real estate? Do you just do a picture? Basically what I am asking is what is the most effective card you veterans have come up with? I just want to thank anyone with experience ahead of time for taking the time to reply to this post I am genuinely interested. [link] [comments]  |
| Purple Brick / Comfree Thoughts Posted: 04 Dec 2019 06:26 PM PST We are selling our house in Edmonton Alberta. Our house is just north of $1M but not by a lot. It's been on the market for the past 8 months with no legit offers. The economy is a bit in the ditch here in a Alberta so the RE market reflects the same. I have listed with a traditional agent so far but see absolutely no value that they have brought to the table. The commission on a house sale at this price is around $35,000. Which I believe is insane. Our agent has talked crap about Purple Bricks and Comfree saying that RE agents will intentionally shit talk houses listed through those services because of the commission model. Are there stats on how effective those brokerages are vs traditional listings? What are your thoughts on the matter for houses over $1M? [link] [comments]  |
| Posted: 04 Dec 2019 03:49 PM PST I am looking to purchase a piece of land that is a 15 acre parcel and includes a cluster of completely dilapidated cottages on 4 acres of the parcel. I am interested in rehabilitating the cottages and using them as rental properties. I am not interested in developing the remaining 11 acres of property for various reasons. There is a local land trust, however, that is interested in the land but not in the buildings. I have been thinking about creative ways of partnering with them so that I can acquire my rental properties and they can acquire the land. One, I can buy the whole thing and sell them back the 11 acres. Two, they could buy the whole thing and sell me back the 4 acres. Three, I can buy the whole thing and donate the 11 acres to the land trust. If I go with option three, what are the tax advantages to me? If I go with option one, are there any tax advantages to me? What would you do? There may be other options that I haven't considered. Thanks in advance for your feedback. Cross posted in r/tax. [link] [comments]  |
| How would you feel if you found out you're living in a murder house? Posted: 04 Dec 2019 02:03 PM PST How would you feel if you found out the (800 sq. ft.) house you've lived in for the past 2 years was the scene of a grisly triple murder and suicide? This happened at the house of a client of mine, so I'm curious what everyone else thinks. She has not had any paranormal issues at all and the house is super cute; it was fully rehabbed since the incident. It's her first home and she loves it...but would you feel any different after finding this out? [link] [comments]  |
| Posted: 04 Dec 2019 05:03 PM PST Looking to pick up a couple books that go much deeper into RE investing than how to flip houses for dummies. Would like to really nerd out and read up on aspects of the commercial, multi family, hotel game etc. [link] [comments]  |
| First time home buyer, crazy long inspection Posted: 04 Dec 2019 08:44 AM PST Maybe it's me, but I was not expecting these many issues for a 2004 home, single owner. I wanted to consult with my fellow smart real estate Redditors to get second, third, fourth opinion (if i am lucky). Thank you all for your time. inspection report [link] [comments]  |
| Seller agent asking buyer to bring pre approval letter Posted: 04 Dec 2019 10:13 AM PST Seller agent asked me(buyer no agent) to bring my pre approval, I do not plan on giving a full ask offer. Question: Should I get pre approval for the amount I plan to offer or of the asking price of the listing? [link] [comments]  |
| How timely do you expect your agent to respond to you?? Posted: 04 Dec 2019 12:55 PM PST Just put an offer on a house with my agent last week, we haggled them a lil and the agent accepted after 2 days and asked to send over an updated offer. We sent that over on Sat and I jumped into gear about acquiring commitment/financing and a lawyer. I flew out on Sunday. Monday I spoke to a lawyer that is going to email me over some documents (still haven't received them) and we agreed that she'll be paid at closing. Tuesday I asked my agent if she heard anything from the sellers as of yet, nope! I then ask her if she think they're holding out for other offers, she says yeah maybe and she will call the agent right now. I've yet to get an update from her about said convo, or if she were even able to get in contact with him. The sellers agent texted me today asking for my lawyers info? Does he need the lawyers info before signing an offer?? This is my 2nd time buying a property but it's always different each time and I'm always anxious about each step. How messed up would it be if after getting my credit tied up apply for a mortgage and the sellers come back and say they have an higher offer while sitting on my offer and not signing and moving this forward. Two questions, would I be an asshole if I told them to just cancel and I can move forward on other projects/properties I saw? Do you guys expect to hear back after texting your agent within couple hours/24 hours? I texted my agent an hour ago and I can clearly see that she's read my text but no response. [link] [comments]  |
| Credit back more than down payment? Posted: 04 Dec 2019 03:03 PM PST Hi RealEstate! I am working with a realtor but wanted to probe your thoughts before finalizing an offer. I am planning to write an offer on a home in the amount of $265,000.00. I will be putting 5% ($13,250) down on the home. There is a laundry list of items that need complete and the seller's agent has mentioned a $15,000 credit to make these repairs in lieu of the seller completing them before closing. In the offer I am planning on asking for a $20,000 credit as I reduced an estimate on the repairs and feel that the original credit is slightly low for what needs done. If I receive the $20,000 credit, it would be more than my total cash to close (down payment plus closing costs) would this mean I would bring $0 to close and possibly leave with money in my pocket? Is this even possible? [link] [comments]  |
| Appraiser conflict of interest? Posted: 04 Dec 2019 12:35 PM PST Hey all, first time poster, planning on investing as soon as I can, so go easy lol. My fiancé is a trainee appraiser about to get her residential appraiser license, and has told me that if I want to invest, I will have to do it separate from her because it would be a conflict of interest for an appraiser to help run a real estate investing business. Are there any conflict of interests or ethical violations for appraisers who want to invest in real estate or maybe landlord? Thanks! [link] [comments]  |
| Posted: 04 Dec 2019 11:40 AM PST Hello, we bought a home 2 weeks ago and got our septic tank pumped recently. I was told that we may have an easement on our property, but our agent never mentioned anything nor the closing attorney. If there is in fact an easement, is there anything we can do? Or is it a lost cause. I believe it has to do do with the field drainage system too..Sorry if I'm not explaining it correctly. If we have a case should I just contact the attorney first? Thank you! [link] [comments]  |
| How to find out more information about a foreclosed property Posted: 04 Dec 2019 05:27 PM PST I was cruising through some real estate ads and found a foreclosed property that seems extremely low, which is obviously alarming. None of the ads have interior photos and none of them say anything about structural danger. Is there any way to find out exactly why it's so low? Would the posts say if the property wasn't safe? Where can I go from here? Thank you! [link] [comments]  |
| Anderson, IN duplex. Should I invest? Posted: 04 Dec 2019 10:12 AM PST I'm thinking about buying an investment duplex in Anderson, IN. I am not local and I live in an area where I can't afford to buy a duplex. Thoughts? Feelings? Experiences? Does anyone live there that can give me some perspective? [link] [comments]  |
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