Is buying a house on 20 acres a bad idea for first time home owners? Real Estate |
- Is buying a house on 20 acres a bad idea for first time home owners?
- Am I automatically responsible for half the house if my husband and I divorce?
- I didn’t know registering my name at new home construction sites (w/out my agent) would void my realtor and force me to use the builders agent. Is there a way around this??
- A senior in high school and wanting to get into real estate but not fully sure where or how too start
- Do I need a lawyer to review the mortgage documents?
- Does this sound like chinese drywall?
- Lease Issues
- Selling our house with ADT security?
- Trash keeps getting picked up but I'm not paying for it.
- First-Time Home Buyer - Higher or Lower Downpayment
- Confused
- Inheriting property and how much debt to pay off question
- First time home hunter - bypass realtor?
- Preparing to sell my home, neighbor has expressed interest in buying
- Unsure on risk involved with 36-38 year old furnace? (potential homebuyer)
- House has had work done without permits from the city
- Discount rent or give gifts in January?
- An insurance company that actually helps?
- The worst house in the best neighborhood? That's us.
- Buying in Denver if we aren’t sure how long we plan to stay
- Paid security deposit and signed lease online, is there a risk ?
- [CA] What type of housing market merits an increase in rent-to-own agreements?
- Multifamily Search Process
- MN - Buying a Home From a Friend - Need Advice
| Is buying a house on 20 acres a bad idea for first time home owners? Posted: 01 Jan 2020 11:52 AM PST My SO and I are looking to buy our first house outside of Nashville before April. We are looking for a homestead on about 2 acres of land. We haven't found too much in our price range and in our desired commute to work. But we did come across 2 different houses in our price range on over 20 acres of land, we haven't visited them yet. Both plots are mostly woods, the part of the yard that's cleared is maybe a little under an acre on 1 house, and about 3 acres on the other. Would it be a bad idea to go after these properties assuming the houses are in good shape? What are the dangers of owning so much land? We would have no desire to develop on the land or anything like that. The houses are both under 200k. Our top price is about 230k. Is it any more difficult to get a mortgage for a house on so much land? Middle Tennessee [link] [comments]  |
| Am I automatically responsible for half the house if my husband and I divorce? Posted: 01 Jan 2020 05:01 PM PST My husband and I have had a rocky past. Addiction got the best of him and it didn't seem like we were going to make it. He has been clean and doing a lot better for the last year and a half and we have decided to buy a new home. I hope things don't get bad again but I'm curious, if things were to start to go south, are we BOTH responsible for the home if we decide to split? My name is on the deed but only his is on the mortgage. How does it work if we were to split? I don't foresee this happening but if he were to get violent again, I would have to leave and for some reason I can't get these questions out of my head. Thanks in advance for your responses! [link] [comments]  |
| Posted: 02 Jan 2020 03:54 AM PST Back story: Husband and I have been looking to purchase a home w/ no permanent date in mind. We've casually looked at both new and older homes to see what we liked and recently contacted a real estate friend of ours for small insights and inquires here and there. No we haven't signed a broker-buyer agreement. Which I had no idea about until I began reading up about this. Buuuut, without a doubt, he is our go-to man when we do finally start to get serious about it. Fast forward to a year later, we now feel ready to begin the whole buying process. Soooo we texted our friend and told him about a new construction we were looking at earlier that day, and how much we liked it, and are willing to move forward with everything. He was telling us great! but also mentioned that he hopes that we didn't register our name when went to view the models..... FACE PALM YALL. We've been going around to all these new communities registering my name and what not like dumb clueless floosies. This whole time, I thought it's purpose was to just record the foot traffic they were getting!! No one ever said anything about builder/realtor agent representation or anything. Which IMO is a sneaky ass mf trick they keep up their sleeves. SO. I just wanted to know if there's any way around this. Some kind of loophole maybe? We plan on purchasing with my husband, mine, and my father in laws name if that would make a difference. Does the registering of my name ever expire? Would switching names make a difference? Because I have always only used my name, neither my husbands or FIL when registering. 😅 [link] [comments]  |
| Posted: 01 Jan 2020 05:52 PM PST I currently am thinking about real estate as a possible career choose but I'm trying to figure out how to start off and what I should avoid etc. I really would like many opinions on this and what you would do in my shoes? If it means anything I want to in Colorado mainly [link] [comments]  |
| Do I need a lawyer to review the mortgage documents? Posted: 01 Jan 2020 04:32 PM PST I am buying an investment property with a mortgage in Philadelphia. I was not planning on hiring an attorney until last week when my mortgage officer called me to sign the 50-page mortgage document. Only then did I realize how expensive the mortgage is- the processing fee, document fee altogether add up to $1500...And the rate is pretty high. I was overwhelmed by the information and am considering hiring an attorney to represent us. The fee is about $1000. Is it worth it to hire a lawyer? Can he help us negotiate the mortgage? [link] [comments]  |
| Does this sound like chinese drywall? Posted: 01 Jan 2020 06:43 AM PST Purchased house that was built in 2005. Moved in and noticed every single outlet the copper was black. Also noticed the air condition system in garbage, the copper was entirely black. Also noticed the system was replaced in 2011, only 6 years after the house was built. [link] [comments]  |
| Posted: 01 Jan 2020 08:09 AM PST My landlord tried about a month ago to get us to sign a set of 'house rules' separate from our lease. Which we refused to sign. Now he claims that he has "transferred" ownership to an LLC that he himself is a managing member of and with that he has voided our original lease and is now saying we are forced to sign a new one (which is pretty much just the house rules but now even more ridiculous and unnecessary) or vacate by the end of January. IS HE ALLOWED TO DO THIS? [link] [comments]  |
| Selling our house with ADT security? Posted: 01 Jan 2020 07:38 PM PST Quick question for everyone and sorry in advance if it's sort of lame compared to the other exciting questions. We're in the midst of our first (and hopefully only) time buying a new house and selling our current house at the same time. Our current house has an ADT security system in it. We pay $50/month for it and do NOT want to transfer it to our new house. Anyone have any insight on whether we should cancel the service before selling or keep it and try to list it as a positive feature of the house? I've read some things about still being held responsible for the equipment (I'd have to pay) if the buyer doesn't continue the contract. Appreciate any insight! [link] [comments]  |
| Trash keeps getting picked up but I'm not paying for it. Posted: 01 Jan 2020 07:49 PM PST I recently moved into a neighborhood that has private trash collection, as opposed to tax-paid city collection. I've been here (and putting my trash at the curb) for about 6 months but I've never gotten a bill in the mail or anything. I figure it's for one of a few reasons:
Does anybody have experience with something like this? What is the typical way that private trash collection accounts get transferred over to new home-owners? [link] [comments]  |
| First-Time Home Buyer - Higher or Lower Downpayment Posted: 01 Jan 2020 10:21 AM PST Would you recommend putting a large amount of money (say 50k) as a down payment to make the monthly payments lower or Would you recommend putting just 20% (30k) down and saving (20k) or investing elsewhere (stocks, etc.) in the mean time? I would like to purchase more properties but I feel like paying one off at a time will be best? What's your advice for a first-time home buyer. [link] [comments]  |
| Posted: 01 Jan 2020 02:08 PM PST We applied for a mortgage 3 years ago and were approved for FHA. We kept the same realtor and waited until recently to apply again after we had worked on some things. We were pre-approved for conventional and this was sent to our realtor, and we just put an offer on a house that was accepted; However, our realtor messaged the lender 2 nights ago to get a new pre-approval letter because the original had a different city than where we ended up picking. I just logged in to the mortgage app and it shows the loan application as FHA. Lenders are closed since its New Years, and the amount on it is less than what we ended up agreeing upon as we had to counter offer and they accepted. My question is, since we didn't technically formally apply for the loan yet, are they able to change it to conventional? I made it pretty clear I wanted conventional but I think my realtor may have just made an error or the lender did. I spoke with the lender yesterday and she said I can obviously do either or. This is my first time buying a home so I'm just kind of anxious and would like to sleep soundly tonight lol [link] [comments]  |
| Inheriting property and how much debt to pay off question Posted: 01 Jan 2020 09:27 AM PST So long story short I'll be inheriting 1/3 of my grandpas house when he passes away. The house is worth around $450k in the CA Bay Area. It will be split between myself, my cousin and my grandpas son. Word on the street is my grandpas son wants to use it as a rental but he would have to pay off both myself and my cousin. Would I have to pay taxes wether we're bought out or sell it to someone else? Next question. My plan is to pay off all of our debt (married couple) which with 2 cars, her student loan and credit card amounts to about $50k so basically our debt would be a big fat ZERO. I heard it's actually bad to have no debt when buying a house which on paper sounds stupid. Less debt=more money available for a Mortage payment as well as loan amount. So should I not pay off all of our debt, just most of it or what? A little about us, We make about $90k combined. I make an hourly plus commission and finished a hair under $68k this year. She's self employed doing hair so her income is way more up and down than mine is. I've done math and based off of paying down our debt to zero, putting 50-60k down on a house, we could easily afford a $2700 Mortage (not that I want to go that high) living in California I a decent house in our area is high 300s to mid $400k so I'm trying to maximize how much we can get for a Mortage. Our biggest hurdle is our debt which really won't be an issue once my grandpa passes but now I'm confused on how much of it to get rid of. Thanks in advance I hope this wasn't too confusing [link] [comments]  |
| First time home hunter - bypass realtor? Posted: 01 Jan 2020 09:15 PM PST My wife and I found a property we really like in a neighborhood we love. We don't have a buyers agent yet, and the property is not yet on the market. If we make an offer, we might be able to save the seller some money on staging and painting. Also, since there is no buyers agent, the sellers agent has a little extra incentive to not split the commission. So is it worth getting a buyers agent to help negotiate or does that give me less negotiating power? [link] [comments]  |
| Preparing to sell my home, neighbor has expressed interest in buying Posted: 01 Jan 2020 08:41 PM PST My neighbor mentioned that he might be interested in buying my house but I have several questions about that. How do I determine a fair price? Do I still need to involve a realtor? If not, who do I need? Thanks in advance [link] [comments]  |
| Unsure on risk involved with 36-38 year old furnace? (potential homebuyer) Posted: 01 Jan 2020 08:32 PM PST Edited: 36-37 year old furnace Materials: Gas Fire Forced Air Furnace. Observations: • The furnace makes an irregular noise when operated. Recommend a qualified HVAC contractor to further evaluate and repair the unit. • The furnace appears to not have been serviced in quite some time, the inside of the furnace is also dirty from years of operation. Recommend a qualified HVAC contractor to service and clean the unit. Just had a home inspection as a potential buyer and am unsure about negotiating for furnace/risk involved if I buy this home. While the furnace is working, there is the issue noted above in the inspection. I asked my realtor about negotiating a credit as I may need to replace this in the near future because of its age/possibly because of its current issue (?). She advised we can try, but given that it's obviously so old and still working, the seller may not budge. My concern is, do people usually accept this large of a risk or just walk away? I could see it was old but had no idea it close to 40 years old. I checked past posts here, and there doesn't seem to be a general consensus on if it's worth it to just walk away. Otherwise, the home is priced fair for the comps in the area and given there are no new major updates like furnace, roof, etc. Thanks! [link] [comments]  |
| House has had work done without permits from the city Posted: 01 Jan 2020 11:38 AM PST I like in Baltimore City Maryland and a home that I am looking at has some work that was done without permits. Has anyone ever had any similar issues? Have you ended up having to pay for the last owner's mistakes? What is your experience with this? [link] [comments]  |
| Discount rent or give gifts in January? Posted: 01 Jan 2020 08:34 AM PST I hear some folks doing it. Want to know what the mass thinks ? [link] [comments]  |
| An insurance company that actually helps? Posted: 01 Jan 2020 07:34 PM PST I looked at the reviews for Safeco, Nationwide, State Farm, and Geico. And though some of them have better customer service than others it doesn't really matter when not a single one has any reviews of the company actually covering damages or paying up when the homeowner needs it. Anybody know of an insurance company that doesn't beat around the bush and is actually there for you financially? Otherwise what's the point? [link] [comments]  |
| The worst house in the best neighborhood? That's us. Posted: 01 Jan 2020 07:05 PM PST Okay, we don't technically have the worst home in our awesome, safe, convenient neighborhood. Let me provide a tiny bit of backstory. In 2014, husband and I bought our 1928 home for $68,000. It's cute as heck, it's well-built, solid original maple floors, charm galore. 2 car garage. Incredible part of town, bike-friendly area, parks, public transportation, dogs and kids outside playing, etc. Prop taxes $1200/year. We paid off our mortgage months ago. So, what's the problem? And, why so cheap? Well, our house is...400 square feet. Yes. That's right. It's 1 bed, 1 bath. Again, it was constructed in 1928 and was never added on to. The homes surrounding ours are at least 3 to 4 times the size. Average house price in our zip code is $279,000. We love our neighbors. We actually really love our house. We aren't having kids. But when is small TOO small? We get comments all the time...friends and family like to make jokes about it... co-workers are in shock when I tell them about my house. I admit I look at houses online. I sometimes wonder if we should go bigger. Should we? I worry about living long-term in 400 square feet. We're 40. We have 1 closet in our entire house. Are we too weird? Are we insane? Houses in our ideal price range are around $160K. We could afford more, but don't want to. There are larger, good-looking homes in that range in a not-so-great neighborhood due west of our area. I am personally okay with that part of town; I actually work there. But crime, admittedly, is much higher there than in our current location. I dunno if walking my dogs after dark would be as relaxed as it is for me now. Guess this is the TL/DR: what's better-- a very small home in an excellent neighborhood, or a larger, more spacious home in a not-so-awesome neighborhood? Edited to add: we want to settle, put down roots, keep our life in one spot. Not looking to profit or maximize on the market or anything. [link] [comments]  |
| Buying in Denver if we aren’t sure how long we plan to stay Posted: 01 Jan 2020 06:46 PM PST My husband and I have been renting in Denver for a year and recently sold a property we owned in Virginia. We like it here but are considering moving in the next 2 years to Portland, Oregon. Would it be foolish to buy here if we aren't sure we plan to stay? What's the outlook on the market here? I'm nervous about it (mostly psychological/hate the idea of feeling "stuck") and my husband is more in favor. Looking for any advice/insight! Thank you! [link] [comments]  |
| Paid security deposit and signed lease online, is there a risk ? Posted: 01 Jan 2020 06:13 PM PST I submitted my application to an apartment in SG and it got approved they asked me to sign a lease electronically online and pay the security deposit, so i did but in the online contract i see only my e-signatures, not the owner's signature. from looking online the property management company has good reviews and looks legitimate. Did i make a mistake by paying the security deposit this early ? or i shouldn't worry about it ? [link] [comments]  |
| [CA] What type of housing market merits an increase in rent-to-own agreements? Posted: 01 Jan 2020 05:51 PM PST I am interested in the rent-to-own option. How would one determine if a seller is willing to participate in rent-to-own? Is it normal for an individual seller or company (REIT?) to participate in rent-to-own? And what type of housing market has an increase in rent-to-own? In this economy, it seems like financing is more available. Therefore, sellers would prefer to go with a buyer who is ready to purchase. But isn't that something a real estate agent would prefer to say to make a sale now over an agreement? Help a noob out please. [link] [comments]  |
| Posted: 01 Jan 2020 05:46 PM PST Location is Houston Texas For those who have experience with multifamily/house hacking etc, could you help me understand the search process? Is a generic realtor sufficient? (The path I'm currently on) Are the apps (Redfin, Zillow, etc) sufficient? Are there really groups of specialized realtors I should be trying to link up with? [link] [comments]  |
| MN - Buying a Home From a Friend - Need Advice Posted: 01 Jan 2020 05:33 AM PST Facts -
Questions -
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