- Sale by owner. Offer contract signed. We paid earnest money. The listing was gone from popular real estate sites. Once seller got the repair request he made the listing active again and raised the price. It is not marked as pending/contingent. Is he allowed to do this and it’s just in poor taste?
- Buying cheap land in Arizona
- My rent is $230?!?!?!
- Low Balling a New Construction Home (Question for anyone whose negotiated a price with the builder)
- In search of a farmhouse and land to fix up
- [NJ] 2-family unit only has 1 heating system
- Theory on zillow offers and zillow zestimates -- anyone have any correlating opinions or information?
- Depreciation for rental ADU on primary residence?
- CGI "photos" for an existing home
- Want to buy so bad!
- Adding MIL on deed to property we pay for but she lives in (FL)
- Seattle housing market
- 2 buildings on 1 plot of land. Zoned RH2. Why would I need commercial loan?
- Sellers backing out of signed contract! 5 days till closing!!
- 100+ Unit Apartment Owner Forums
- No news is good news?
- Redfin Now for condo under litigation
- Is there a way to remove price changes from websites like zillow?
- First time?
- Does MA tax property based on acreage?
- First Home/Investment Property
- Can you 1031 into multiple new properties?
- History of Agent sold/bought properties
- Real Estate Law -- book recommendation
| Posted: 27 Jan 2020 08:41 PM PST FYI, due to the circumstances we are covering the cost of repairs. Because of his listing, we have asked our buyers agent to make a contract saying that if we pay anything for the repairs and he backs out then he has to reimburse us the repair costs and the earnest money. Thank you for any and all input. [link] [comments]  |
| Posted: 28 Jan 2020 03:24 AM PST So I've found a few pieces of raw land in Arizona that are about 50 acres for like 12,000. I was wondering if there is anything else hidden I have to pay, so I should be paying around $77/yr right? No other hidden charges except documents and things like that. This is the first time I'm purchasing land and any help will be appreciated. [link] [comments]  |
| Posted: 27 Jan 2020 05:15 AM PST So me and my fiance moved into this new apartment 2 days ago, and after looking over the lease I noticed a mistake. This is no simple mistake my friend. Who ever typed in the info. for our lease accidentally put the prorated amount in our monthly rent. I thought about it for a second and then I laughed. "No way," I said out loud. Now my second action was to look at the online lease that I signed through a link sent through email from the leasing office. Yup, same thing. Rent $230. I then looked at the resident portal website where I am suppose to be pay rent. Yup, same thing, $230. On every copy of the lease is the signature of me, my fiance, and the leasing manager soooooo. So, my next action was to look up legalities. I know a lease is legally binding but how much power do I(the renter) have? So far I've researched that the lease can only be changed if me and the landlord agree on the change. If this is true, does this mean I can legally only a fraction of what rent is suppose to be($1060)? [link] [comments]  |
| Low Balling a New Construction Home (Question for anyone whose negotiated a price with the builder) Posted: 27 Jan 2020 04:01 PM PST New Build, 1-acre lot, enough upgrades to look like a model home (you'll understand why below). But..... House has set fully built on the market for 130+ days (all homes around it have sold), also in a seller's market. The why...... The one-acre lot is on a hill, and .5 acres need fencing around it, needs sod (right now just dirt and rocks), as well as that hill, is very steep (The only house in the area like this) to the point that a 10 ft retaining wall with a walkway is on the property to get to the rest of it. The house is currently owned by the builder and I'm thinking of going 12% below asking. Has anyone put in an offer on a new constructed home that set on the market for long periods of time, and what was the result? Also the realtor selling for the builder contacted me 5 days after visiting to discuss what I liked about the home, and if I was still interested. I have never had a realtor do that [link] [comments]  |
| In search of a farmhouse and land to fix up Posted: 27 Jan 2020 02:51 PM PST My partner and I have decided that we'd like to relocate in the coming year or two, and our dream is to buy a farmhouse to fix up. We'd ideally like it to have a bit of land attached (5+ acres) so we could have a hobby farm, and be in a rural-ish area or the country because we're tired of living in the city. However, we have no specific state or city location in mind. (ETA: We're hoping to stay in the Midwest or mountain West, somewhere between Wisconsin/Iowa and Montana/Wyoming, but we're not too picky and would relocate just about anywhere as long as the home and property fit our liking and the nearby town/s were places we liked and felt like home.) We've been doing some general online searches (Zillow, etc.) for properties, but we aren't sure the best way to find properties like those we're seeking. Is there a way to search for specific types of properties across a wide area rather than seeing all of the properties for sale within a small geographic location? Thanks for your advice. [link] [comments]  |
| [NJ] 2-family unit only has 1 heating system Posted: 28 Jan 2020 03:34 AM PST So a 2-family house shares a single heating system. Is this a dealbreaker for you guys if this property was going to be used as an investment? How would you include heating into the rent so you're not overcharging? Would you just invest in a 2nd heating sytem so that utilities are seperate? [link] [comments]  |
| Posted: 27 Jan 2020 01:43 PM PST In the last couple of years, Zillow started doing direct offers for homes. Around the same time, Zillow "updated their algorithm" for Zestimates. I have noticed that the Zestimates are almost always significantly lower than the true value for homes in my area since the update. Given my observation, my theory is: Zillow intentionally lowered their estimates to try to trick people into selling directly to them for less [link] [comments]  |
| Depreciation for rental ADU on primary residence? Posted: 27 Jan 2020 10:31 PM PST I m debating whether it would make sense to build an ADU on the backyard of my current SFH property in South Bay Area (San Jose). Had a few questions:
[link] [comments]  |
| CGI "photos" for an existing home Posted: 27 Jan 2020 07:55 PM PST We've been looking for a new home for the past six months and tonight I encountered a first. Half the photos in a list(13 of 25) were CGI renderings of the house. If you browsed through the photos quickly you might not even notice, but the house is vacant and many of the shots are of the same rooms but digitally altered. This seems highly unethical to me. It is one thing with new construction, but for existing home you are basically creating a image you know to be patently false. Is this a growing trend? As I'm hesitant to work with any realtor that takes this approach. [link] [comments]  |
| Posted: 28 Jan 2020 01:47 AM PST I am having a baby in July, my lease is up on my apartment in April and my boyfriend and I want to buy a house so badly! Our credit scores are both in the 520's because of divorces years ago. We've both been working on it for 2 years and that's what it's come up to so far. His income is 75k and mine is 39k. We pay all of our bills on time or early, we have about $6,000 to put in a down payment. How can we buy a house without paying full cash?? Is there ANY way? We live in Houston, if that helps. [link] [comments]  |
| Adding MIL on deed to property we pay for but she lives in (FL) Posted: 27 Jan 2020 08:00 PM PST Have a real estate ownership question dealing with me, hubby, and MIL. When my FIL passed, MIL wanted to move back closer to her grandkids, but couldn't afford anything near us (husband is only child). After talking about it, we decided that if she gave us half of her profit from selling her house, we would get her a similar house near us and let her live there rent free as we knew we would need to help her out financially and this seemed like the best method. Ended up we got about $50k and the property she lives in is worth $300k (with a standard 30-yr fixed mortgage as an investment property for 80% LTV taken out by hubby and me). She has been staying there for about 6 months now. We don't have any legal anything set up, no lease or anything. She handles normal maintenance (lawn, air filters, AC service) and we handle bigger repairs (like new roof when it needs one). It's been good (well as good as moving the MIL from 6 hours away to 15minutes away can be). However, last weekend she said she wants to be added on the deed for the property. Her thoughts are if my husband dies or we get divorced, I'll kick her out and she'll basically be homeless and have $50k less to survive off of. While this is not going to happen, I can understand her fears and since anything in her name goes to my hubby when she passes, I don't have any concerns about siblings fighting for our property. But what is the best was to handle this. I have no issue with adding her as an owner, but not sure what the right process is, what type of deed to make it (tenancy in common? joint with survivor-ship?)? Are there any potential downsides to this (taxes? probate upon her death?) or is there is a better wait to address her concern - something in our wills? some sort of legal agreement? a 50 year lease for $1/year that only she can cancel? Can anyone help direct me where to start looking? TIA. [link] [comments]  |
| Posted: 27 Jan 2020 11:27 PM PST I've been looking into buying a houseor townhouse in the Seattle area (Cap Hill, Fremont, Ballard, central district - - just locations within a 30 min bus ride of downtown). Inventory seems really low and I've noticed that often properties go pending very quickly or are labeled as hot by redfin with 3k views in just a day. Are we returning to 2016 competition levels in this city, or is this just the norm for this time? Curious to get a perspective from any realtors or experienced investors out there. [link] [comments]  |
| 2 buildings on 1 plot of land. Zoned RH2. Why would I need commercial loan? Posted: 27 Jan 2020 11:21 PM PST I'm looking at purchasing 2 buildings on 1 plot of land. The back unit is a house and the front unit is more of a warehouse. I'll likely use it to store my tools, car, etc. The listing agent is saying that I will likely need to get a commercial loan for the purchase. Can anyone confirm if this is true? The land is zoned RH2 (residential) so I'm not exactly sure why a commercial loan would be in play here... [link] [comments]  |
| Sellers backing out of signed contract! 5 days till closing!! Posted: 27 Jan 2020 05:02 PM PST We are scheduled to close on January 31st 2020. We have a signed contract stating if mold was found during the mold test, the sellers would have a professional remediate the mold. Well mold was found and they were quoted $2800 for remediation and they are now threatening to walk away if we do not agree to a 3k price increase!At this point...I told our agent if they are willing g to make us whole we will walk away from the deal...otherwise we will be seeking legal counsel and taking them to court. So far we are invested to the tune of $500 earnest money $770 home inspection and $700 lender appraisal fee that as far as I'm aware we are responsible for if the deal does not go through even if the sellers are the ones that breach contract. Thought? Advice? First time home buyers here....in Montana [link] [comments]  |
| 100+ Unit Apartment Owner Forums Posted: 27 Jan 2020 10:58 PM PST Where do owner/operators of larger complexes hangout? BP's multi-family forum is geared towards investors and multifamilyinsider.com's forum is too quiet. r/smallbusiness can handle general topics like employee benefits/development, insurance, and taxes but finding a one-stop shop would be excellent. [link] [comments]  |
| Posted: 27 Jan 2020 10:31 PM PST I am absolutely SICK of hearing this from my realtor. When it took forever to hear back from inspections, my realtor repeatedly assured me "no news is good news"...and then the buyer came back with a TRR of like 17 things to fix. Realtor keeps sending out contractors for bids on these items, and our TRR response period ends tomorrow. I have no idea how we are supposed to respond to the buyer on these requests, because the realtor hasn't communicated anything to me. We are slated to close the 10th which means we have to move the 7th...but we've still not heard anything from the appraisal. Our realtor keeps telling me "no news is good news". Well it wasn't good news last time, buddy! If the appraisal doesn't come back near asking, how can we know what we can offer the buyer in the way of credits at closing? We have a number we have to hit in order to make this work. *headdesk* They keep assuring us with the surveyor coming out and the buyer's title office scheduling for us to pre-sign our side of the documents that "things are moving, and no news is good news". I MUCH prefer buying a house to selling one. **rant over** [link] [comments]  |
| Redfin Now for condo under litigation Posted: 27 Jan 2020 12:17 PM PST My current 1br condo is too small for me now. I'm looking to purchase a new home, but the HOA is in litigation against our builder (DR Horton). A realtor in the community is telling me that it's very difficult for buyers to find financing, and this is both depressing prices and causing it to take a long time to sell, though it looks like places to eventually sell. The Redfin/Zillow estimate for my place is 440-460k, and I purchased it for 370k. I'd be fine to sell it for as low as 410k if I could get it sold quickly. In this case, is something like Redfin Now a good option for me? I'm trying to avoid renting it out, as the income I can get from that will be slightly below my costs for mortgage + hoa, and I don't want to be too heavily invested in real estate. I'd appreciate any thoughts and suggestions. [link] [comments]  |
| Is there a way to remove price changes from websites like zillow? Posted: 27 Jan 2020 08:44 PM PST Recently I have seen some listing on websites like zillow, redfin etc that don't show any previous price history. Is there a way to remove this information? I am currently trying to help my grandmother sell her house. She has been trying to sell her house for last 3 years and keeps changing real estate agents every year. Each agent keeps telling her to lower the price on the house. And this is now affecting the sale. No one is even coming to view the house. So is there any way remove this information from online websites? We are just hoping to get more traffic in through the door. Hope you guys can help. [link] [comments]  |
| Posted: 27 Jan 2020 08:11 PM PST Wondering if there's a way we can qualify for a first time home buyers program. We currently own a house that my father in law bought for us by taking a second mortgage out on his own home. So, our house is completely paid off and we pay the mortgage on his home. We didn't buy the house, but we own it. Any ideas? [link] [comments]  |
| Does MA tax property based on acreage? Posted: 27 Jan 2020 02:06 PM PST My parents are currently looking at buying a plot of land to build a house on in Massachusetts. They were wondering if the size of the land plot is going to effect property tax. For perspective, they are looking at 2 different plots: one is $135k for ~1 acre and another is $125k for ~35 acres. Is there any downside to buying the bigger plot? [link] [comments]  |
| First Home/Investment Property Posted: 27 Jan 2020 02:02 PM PST Hi All - first time on this sub. I'm considering buying my first home, where I plan to rent out one of the rooms to help cover the mortgage. Eventually, I would consider moving out of the unit and keeping it as an investment property. A large part of my decision is based on the net present value that the home would return, calculated from upfront costs, monthly rental income, monthly expenses (mortgages, taxes, insurance, etc), and anticipated appreciation in value. My question is two-fold: 1) should I use a net present value calculation when determining whether or not to buy the home given that this is not solely an investment property, and 2) am I calculating cash flow correctly by netting anticipated rental income with anticipated monthly housing expenses? Thanks! [link] [comments]  |
| Can you 1031 into multiple new properties? Posted: 27 Jan 2020 07:54 PM PST Basically the title. If you buy a property and over the years gain a lot of equity, and you want to now split that into multiple down payments, is that possible through a 1031 exchange? [link] [comments]  |
| History of Agent sold/bought properties Posted: 27 Jan 2020 03:58 PM PST Zillow/Redfin list the listing agent for a property, and it seems to be public information. Is there a way to find list of properties that agent helped with closing ( both Buy & Close) ? There are so many real estate agents, and As a consumer there are no tools to find the serious ones. For ex: we went to an open house, seller agent doesn't have a clue about commute option when the primary selling point of the house is a good commute. [link] [comments]  |
| Real Estate Law -- book recommendation Posted: 27 Jan 2020 07:27 PM PST Looking for books/articles that will help me better understand housing ownership laws in the United States. More specifically when it comes to purchasing a house as a party of two (couple, etc.) and how the ownership is settled. No law background but I still wouldn't mind seeing what books you would recommend to someone who did study law. This is purely educational so if the material is very long or technical then even better. Not really trying to solve a personal problem so a "quick answer" is not needed. [link] [comments]  |
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