Deciding with three towns but there's some strange stuff going on in one of them. Real Estate |
- Deciding with three towns but there's some strange stuff going on in one of them.
- Two months after closing bank is asking for more documents for the mortgage that I don't have. Do I need a lawyer?
- Seller asking $40k over comps — how to negotiate?
- Addition to Condo Unit? (IL)
- Might there be any issues building on an empty lot that used to have an automotive repair garage on it?
- We live in a great area, with great neighbors but our house sucks. Nothing in the same neighborhood is financially feasible. Has anyone else faced this situation?
- Looking to rent a home
- Australia Investment property interest paid question
- Question Regarding Certificate of Occupancy (Georgia, USA)
- Should seller’s agency do the inspection?
- Mortgage approval for 2nd home
- Better Strategy for Selling a Home: List at Appraised Value or List at 97% of Appraised Value to Encourage Bidding War
- Meeting with multiple agents at the same company?
- First time buying a home. I have some questions.
- What price range should I aim for on a new house?
- How come whenever I search for duplexes all the results are regular houses?
- Zillow Offers - have you completed a sale through them?
- Building a home near a flood zone in Florida.
- Where to get Onesite training?
- Mortgage Lender bait and switch
- Red flags in inspection report for mid-century home (pre-offer), is it worth asking them to make repairs?
- Selling my home to downsize at a young age
- New parcel number and property tax issue
- CA: how the contingency removal form works
| Deciding with three towns but there's some strange stuff going on in one of them. Posted: 24 Jan 2020 05:23 PM PST The areas are in California: Dixon Davis and Woodland. Dixon and Woodland are enticing because the property values are much lower. but I've been noticing things in Woodland stay on the market for a very long time. Or return to market. things in Dixon don't stay on the market very long but they go contingent very quickly. it's my understanding that a contingent offer is one of the less attractive offers. for example one property we were looking at was only on the market for a few days and they accepted a contingent offer. It's my favorite property so far and I'm considering putting a backup offer in. This seems pretty typical for Dixon. I also noticed that there are a great deal of homes in foreclosure and pre-foreclosure in the town of Dixon. Does any of this sound like a red flag issue for buying in this area? I'm kind of feeling an assumption that people are dumping their homes and taking worse offers to make sure they get out before they are the victim of a foreclosure. [link] [comments]  |
| Posted: 24 Jan 2020 08:56 AM PST I closed on my home on November 1, using a VA mortgage through Navy Federal Credit Union. At the time of getting the mortgage I was asked for proof of reenlistment or intent to reenlist and I submitted the statement from my Commanding Officer showing eligibility to reenlist. About a month later I received a job offer which I accepted in lieu of reenlistment and I was discharged at the end of my initial contract last week. I start my new position on Monday and am not worried about keeping all my bills paid but am worried that this may be seen as fraud. Do I need to get a lawyer to sort help me sort this out? Edit: Since I forgot to include it initially this is what the bank representative requested: Please provide a written/signed/dated statement confirming your re-enlistment or intent to re-enlist. We currently have an orderin file, a statement is needed as well. [link] [comments]  |
| Seller asking $40k over comps — how to negotiate? Posted: 24 Jan 2020 07:12 PM PST A 2bd/2ba condo, in a downtown area, renovated nicely, but vinyl floors, tankless water heater, bathrooms were redone. It's a beautiful condo. But it sold for $62k in 2016 and now they want $130k. Comps in the area produced a price of $98k. The seller doesn't seem to be in a rush, they're still living in the condo. It's been on the market 48 days — median timeframe in this town is 57 days. How to start the negotiation to try for $98k? What tools are available for me as a buyer in the negotiation? I'm not desperate for this place. If it was $98k I'd snap it up, but $130k is frankly too much for this place. [link] [comments]  |
| Posted: 25 Jan 2020 02:53 AM PST I own a condo and have a large rear deck. Unfortunately you need to cut through the master to access it, so I don't like entertaining there. My partner and I have discussed enclosing it (partially or fully) to get extra space. Has anyone done this? The condo is in Chicago. [link] [comments]  |
| Posted: 24 Jan 2020 08:43 PM PST I was looking at buying a townhome but an empty lot in a great location came up and I'd like to buy there to build a SFH. My real estate agent mentioned that we "need to do numerous stages of environmental testing." He went on to say "You have to get the ground tested for chemicals (due to mechanic shop ie: gas, oil) and it is a very involved and somewhat costly venture." This was news to me, so I asked what would happen if it tested positive. He said "You have to do a mitigation process I believe; Basically you will want to test the soil so you don't build on top of land saturated with chemicals." Is this accurate? If so, does anybody have more information about the kinds of chemicals to watch out for, how to test, how to mitigate, and/or the potential costs involved? (Midwestern USA) [link] [comments]  |
| Posted: 24 Jan 2020 04:35 PM PST When I bought this house, in 2008, I was single living by myself. But now I have a family of 4. We are growing out of the house and it's showing its age more and more every year. My wife continually tries to reorganize and move stuff around to help, but it doesn't really help. It would be hard to leave our neighborhood because we really like our neighbors and our kids have made friends. The school is great too. This is a very hard decision and I try to think about the sort term, but also how things here are not going to get any better in the future. Just wondering if anyone else has been in the situation and what their process was? [link] [comments]  |
| Posted: 25 Jan 2020 12:55 AM PST Hey guys i have a couple of concerns in terms of real estate that me & my friends dont really know the answers to so if anyone could help please comment! Me and about 4 more friends are looking to rent a home ( 19-22 y/o) we have ok jobs for our age considering we're all full time students. We each pull about 15-25k a year and while I know that isnt much when we all put in a fair amount of rent towards a home its quite affordable. We're looking in the $1500-1800 range in houston texas for a 4-5 bedroom. The main concern comes in the approval for renting a home. Alot of posts require to have atleast 3x the amount of rent as monthly income . Obviously none of us make that type of money yet so will they consider all of our incomes? If they do we should be set but thats really the main concern because we'd all be paying rent about $500 each after bills/utilities but i dont know if they'd consider all of our incomes. [link] [comments]  |
| Australia Investment property interest paid question Posted: 25 Jan 2020 03:00 AM PST Looking at getting a loan on an investment property. How does it work come tax time when you can deduct interest paid on the investment property. If i made $100k before tax but paid $10k in interest for investment property is my new taxable income now $90k? These are the tax brackets Tax brackets 2019-2020 Taxable income Tax on this income 0 - $18,200 Nil does this mean i can get $3,700 back on my return or am i able to get $10,000 back. Im sorry if this is a dumb question. [link] [comments]  |
| Question Regarding Certificate of Occupancy (Georgia, USA) Posted: 24 Jan 2020 07:39 PM PST I own a condo in a building that burned a year ago. The side of the building where my condo is located had to be demolished down to the foundation. The certificates of occupancy for the units are being done individually this coming week, with the unit being handed over to me this coming Friday. Here's my problem. I am in a situation where I have to move my belongings in before the CofO is given. I'm not terribly worried about my belongings as most everything of value I had was lost in the fire. I've been searching local government websites for information regarding what I would be fined if I am found staying in the place before CofO is issued, but haven't found anything specific. Has anyone been in a similar situation that can give some advice on how to manage this? [link] [comments]  |
| Should seller’s agency do the inspection? Posted: 24 Jan 2020 02:22 PM PST A friend is considering buying a house from a flipper. The flipper's real estate agent says their company has its own inspector who'll inspect the house for her. Sounds fishy to me; I would suspect a biased report. I've always hired an independent home inspector. Your wisdom or advice will be appreciated! [link] [comments]  |
| Mortgage approval for 2nd home Posted: 24 Jan 2020 02:56 PM PST My spouse and I are thinking about buying a 2nd (vacation) home and I have some questions about lender approvals:
P.S. - I know that a lender approving us for a mortgage is not the same thing as being able to afford it. We are investigating all aspects of this financially. [link] [comments]  |
| Posted: 24 Jan 2020 04:13 PM PST My realtor has given me those two options for selling my home. I'm not sure of the best strategy so I'd like to hear some expert opinions based on your experience. The comps for the home came in at $335,000. The market here is seasonal and right now the inventory is low. My realtor is leaning towards wanting me to list it at $325,000 based on his experience in this area of getting a lot of offers quickly (within a couple days of going on the market). He says that in this market right now, pricing homes a little less than appraised value has a good chance of starting a bidding war that will drive the price above appraised value. He also says he expects the home to sell if listed at the full appraised value for the full amount but it may take a couple weeks to start getting offers. I'm not in a big hurry to sell. My objective is to get top dollar. What do you advise your clients? What do think is the best strategy for getting the highest price for a home in a low inventory market? Thanks for your help! [link] [comments]  |
| Meeting with multiple agents at the same company? Posted: 24 Jan 2020 06:10 AM PST We asked local friends to recommend realtors, and without realizing it we were recommended and set appointments with 3 from the same company, who sit in the same location. Is this uncouth? Should we work on just setting a meeting with one? It seems like at this point it is going to be weird either way. [link] [comments]  |
| First time buying a home. I have some questions. Posted: 24 Jan 2020 07:39 PM PST Little background, I work for a developer that builds apartments. My day consists of quality control throughout the development process. Everything from site work, to pre slab plumbing through to final owner's punch. This includes every city inspection, and 3rd party inspections. Books I own and use often are 29-1926 OSHA Construction Regulations, the 2018 IRC and Gypsum Association Fire resistance design manual. I am certified, have keys and know how to operate about 98% of common construction machines on a jobsite. So, I'm finally in a position where I'm comfortable buying a house, so I start looking in an area I'm thinking of settling down in. And I'm lost. Every time I try and get some answers on a property, it seems to me like the (REA) doesn't have a clue what I'm talking about. Simple questions like is the slab have PTC ? Does it have foundation issues? What was the mix they used when pouring the slab? Where's the Ufer ground? what's the soil type? was it excavated and imported dirt? Do you have the architectural, truss, mechanical, plumbing, and electrical plans? Does the structure have CLP? Were hurricane clips installed? Is the structure rated NFPA 13R? What fire caulk was used during construction? What was the result of the negative air test (if applicable)? This is besides the things I've heard I should ask for, like who owns the water and mineral rights? (kinda seems to me that if someone owns the mineral rights to MY land, they should either pay rent for storing their minerals on my property or pay to have those minerals they own excavated and removed) Am I missing questions I should be asking? Who should I be asking these questions to? Can I use "I don't know" answers to these questions to negotiate a lower price? [link] [comments]  |
| What price range should I aim for on a new house? Posted: 24 Jan 2020 10:10 AM PST My husband and I bring about $55k gross and we have about $18k to put down which would include any closing costs. (My realtor said she usually tries to get seller to pay closing costs) We both have great credit and this would be our first home purchase. We don't have any debt nor children right now. Edit: Location might be helpful. We're looking to move in west Atlanta. Dallas area Edit: I just realized this might not have been the correct sub to ask this question, sorry if it is! [link] [comments]  |
| How come whenever I search for duplexes all the results are regular houses? Posted: 24 Jan 2020 05:41 PM PST It seems difficult to find a property where you completely separated from a potential tenant... [link] [comments]  |
| Zillow Offers - have you completed a sale through them? Posted: 24 Jan 2020 05:19 PM PST I've just signed an agreement to sell our house through Zillow. Before the naysayer's comment about value and costs. I've researched home sale in our neighborhood and have spoken to two realtors in our area along with a couple of investment brokers. Our agent for buying our new house has reviewed the zillow contract before we signed. Zillow's offer: $270,000k - $4.9% fee and .5% fee - $1800 closing cost - $13,500 repair fees and I net approx $241,500. This is actually VERY competitive given age of our house, condition,sqft and the market we are in. I'm curious more about after the signing of the intent to sell. Have you experienced any issues between contract signing and sale date? [link] [comments]  |
| Building a home near a flood zone in Florida. Posted: 24 Jan 2020 05:03 PM PST I live in central Florida and there are a ton of flood zones, obviously. My wife and I are most likely going to build a home with a very popular builder in the area and it is on the edge of a flood zone. Our backyard goes to a small lake. With that said, there is an engineered drop off of about 4' down to the lake over a course of 10' horizontally. There is also a slightly elevated foundation and drainage engineered into the neighborhood. No flood insurance required. Is it a horrible idea? [link] [comments]  |
| Where to get Onesite training? Posted: 24 Jan 2020 09:23 AM PST I have 3 years of leasing agent experience for my dad but have never used Onesite before. I'm applying to multiple agencies to be a leasing agent but have never heard of this program before. Where do I get the training for this program that I need to get a job? [link] [comments]  |
| Mortgage Lender bait and switch Posted: 24 Jan 2020 04:42 PM PST As the title states, I feel as if I've gotten the bait and switch from my mortgage lender. We found a house we liked and got quotes from 3 mortgage lenders. We decided to go with 1 because costs to close were around 12-13k with a good rate compared to 24-26k with the other lenders. Fast forward into the process, they send the loan to underwriting and schedule the appraisal. The next day the mortgage lender sends me an email stating that my loan parameters have changed(LTV, and CLTV), and the costs to close have increased by 12-14k. Not only do I not have this extra amount of money to close, but I feel like I got baited and switched, they quoted me one loan, but changed after underwriting. Immediately after receiving their email on Thursday, I replied " Send me a new loan estimate before I proceed with anything." She never sent me one, and kept trying to explain themselves out of the huge change in loans instead. This tuesday I ask for it again, and still will not supply me with one because of "computer errors" now. Yesterday Wednesday I sent them an email stating I would like to cancel their business. They reply that the appraisal is back and are sad to see im going. Even though I asked them not to proceed with anything. So now I'm on the hook for a 750$ appraisal fee and a 395$ loan fee. Do I have recourse to get this money refunded since they changed the parameters of the loan, and they also proceeded with the appraisal after I told them to not proceed? Location: Oregon EDIT: The parameters that changed were the CLTV and LTV. They quoted us for a regular conventional loan when they were supposed to follow the parameters of the LIFT program we are doing which is 95%CLTV max. [link] [comments]  |
| Posted: 24 Jan 2020 04:38 PM PST My husband and I, first time home buyers, looked at this home that had a great layout, pretty much perfect for us but the seller provided an inspection report that gives us some pause.
Not on report: shitty appliances, but we knew that and felt we could deal if everything else was good. Good news is the roof is brand new. We live in this neighborhood already and there was a wicked hailstorm a couple years ago. We know we have to keep an eye on that as we look. Every house we've looked at has at least a couple of these issues. We're still interested because it ticks of a few big items for us but don't know if it's worth asking for them to make repairs, especially this many. Anyone with experience with something like this with advice? We're meeting with our agent on Sunday to give it a second look and I'd like to know what we're in for. [link] [comments]  |
| Selling my home to downsize at a young age Posted: 24 Jan 2020 07:51 AM PST Hi all, Located south of Boston, MA I purchased my home 3 years ago for 300k. My principal is down to about 268k now. It is a 3 bedroom/2bath with a fenced in yard. I am a single woman in my late 20s. The house does not need any major projects currently and I get by doing the minor maintenance on my own. Financially, I can pay all of my bills but I have very little leftover to put towards savings. My college loans are $800/mth and my mortgage is $1950. I am considering selling so I can do three things: - have more money leftover at the end of the month - be closer to my friends and family - not have the stress of future major renovations (ie- roof) looming over my head My parents think I am crazy and want me to stay in this home. I am looking for opinions. [link] [comments]  |
| New parcel number and property tax issue Posted: 24 Jan 2020 04:14 PM PST In August, my residential property was rezoned to turn it from a condo to a zero lot line property. As part of the process, it was assigned a new parcel number. So, the original/old parcel number, let's call it #1, was active until August 2019. It is now listed as inactive by the county in regards to tax documents, etc. The new parcel number, #2, has been active since August 2019. I sold the property in October 2019 and paid my portion of the property taxes to the new owners at closing, as is common practice in my county. When I sold the property, parcel #1 stayed in my name because it was no longer active, and parcel #2 was listed as sold and now owned by the current owners. However, the property tax bill for 2019 was sent to me because the county bases tax information on the parcels numbers (so, parcel #1) as they existed on January 1st, 2019. Parcel #2 does not have any property taxes assessed on it for 2019. I have reached out to the county treasurer and was told to send the bill back. I did so, and requested written verification that things were corrected. I received a receipt staying that there were no taxes owed for parcel #2 or by the new owners. Not helpful. I waited a few weeks and saw that the bill has not yet been paid. I reached out again and am told that they sent the bill to the current owners, and I just have to wait to see if it gets paid (due date is Jan 31). If it does not get paid, what are my next steps? I don't want an outstanding bill in my name. Unsure who is responsible for correcting the mistake - the new owners? The city? If it is the new owners, is sending a letter to them the most appropriate way to get in touch? What if they don't pay the bill? Do I have to take them to court? [link] [comments]  |
| CA: how the contingency removal form works Posted: 24 Jan 2020 03:00 PM PST I'm buying a condo in california and we waived our inspection contingency in the "Other terms" sections of the counter offer form. That might have been dumb, but we never signed a contingency removal form - does that mean we haven't really waived anything? [link] [comments]  |
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