Thought we finally lucked out on amazing sellers.....now we are suing :/ Real Estate |
- Thought we finally lucked out on amazing sellers.....now we are suing :/
- Is family size a permissible reason to deny tenants?
- Probate sales in Mexico
- Agent getting frisky.
- Written offer for buying property
- DIY moving - Penske or Uhaul?
- FIRPTA Confusion.
- Real estate markets that are declining YoY, thoughts?
- 100k downpayment assistance
- Buyer requested we move out 5 days before closing. Why?
- Home Occupancy in a 4 family property?
- Basement master bd effect on market value
- House listing has been posted and removed multiple times in the past year
- Toxic landlords entering property without notice. Wanting to end lease early to buy a home.
- Anyone here use Tenant Cloud Property Management software?
- Buying Unrepresented
- Owner-occupying Duplex - is traditional house-hacking possible in expensive markets?
- Looking for tips and warnings when interested in purchasing house from current landlord.
- I have listed a house for rent - but can’t seem to get it rented...
- Owner of house offering seller financing
- What happens if a builder pushes back the completion date to the original day of closing and we cannot agree on an addendum?
- To sale or not to sale
- How to find the right realtor?
- Agents & Realtors of Reddit, what are the best programs / apps you'd recommend
| Thought we finally lucked out on amazing sellers.....now we are suing :/ Posted: 09 Jan 2020 11:02 AM PST I'll try to keep this brief (it's gonna be long) and not too confusing. Went into contract in late October (maybe early November). Got a home inspection done, most things were okay except for the fact that the washing machine, kitchen sink and dishwasher all drained into a sump that then empties into the back yard (after closing we find out it's actually illegal.) We ask if there's any particular reason for that setup and if there's been any issues/repairs on the septic system in last 5 years. They say no to both questions. We submit a remedy request that states they need to have the septic system inspected, risers installed and the tank emptied. Two weeks later we get a receipt that states the work was done. All is good aside from some higher water levels at the time of the emptying (didn't know that was a red flag) We close and immediately start rerouting the plumbing to the septic, assuming they just didn't do it because they were cheap. We also tore out the old bathroom and we do not live in this house yet. Soon after routing the washing machine, we realize we have a big issue. Nothing is draining. We callaround and ask some other septic companies if they have been here. We get some pretty bad news from a place, we will call them A.S.. They came out on November 13th and sent a camera through the toilet. They found a nearly complete clog at 10 f down and noted that the leach field is backing up into the septic, causing the high water. The invoice/inspection we got was from a company we will call J's. J's company came out on the 15th and cleaned the tank and noted that nothing seemed to be too out of place. We called them and apparently the homeowners were trying to bribe them into writing a clean report. Also, the homeowner installed inadequate risers himself even though the remedy specifically said all work needs to be done by a profession septic service. The neighbor let us know that the homeowner dug his leach bed up 2 years ago because it wasn't draining. So, now we have a rent plus a mortgage, two electric bills and we have to basically wipe out our savings to fix this issue. I'm hoping we can some sort of settlement from these people. We can't even shower here! We haven't tried but just running the shower makes the pipe in the basement backup. The real kicker is that the sellers real estate agent is the person named on the AS invoice (the one that was not disclosed to us). Our agent again asked who installed the riser and the agent is claiming that J's installed it. They didn't. Hopefully this is a pretty open and shut case but I worry that since the report stated there was high water levels we are screwed..... we are having an attorney draft up a strongly worded letter. [link] [comments]  |
| Is family size a permissible reason to deny tenants? Posted: 09 Jan 2020 08:17 AM PST I manage a 3 bedroom apartment in a 2 unit duplex and have recently received an application for a family of 7 with children ages 1-15. This concerns me based on the relatively small size of the rooms but also because heat and hot water is paid for in the rent. Would it count as illegal discrimination to deny based on amount of people in the application? Thank you! [link] [comments]  |
| Posted: 10 Jan 2020 05:02 AM PST Hello , I am wondering if there is anything similar to probate sales in Mexico like there is in the United States. From what I look on the web I can't find anything so I'm hoping anybody here has more information on this [link] [comments]  |
| Posted: 09 Jan 2020 01:31 PM PST First time posting on this sub, apologize for sounding like a noob. As much of a far fetched story, this sounds like, it's true. If you don't believe me, then please don't reply. We decided to put our Dallas home up in the market, we've already moved to a better, and nicer part of town. We have a nanny cam in the living room to monitor our new little girl if she's ever downstairs, Fast forward a couple of weeks, my wife and I were still moving things out of the house. We left the nanny cam on, and (yes, it's true.) we saw our agent/realtor (my wife does most of the housework involving real estate, so I apologize again for sounding like a noob) having sex on the couch with her SO. Apparently they were going at it fast and knocked over a desk lamp, which broke the bulbs inside. We really don't know how to approach this, do we let her firm know? Any help would be amazing! tl;dr Caught agent having sex, she broke the lamp, don't know how to proceed. [link] [comments]  |
| Written offer for buying property Posted: 09 Jan 2020 06:41 PM PST Completely new to real estate, looking to purchase a developed lot to build first house on. The seller and I have verbally negotiated a selling price but she is asking for a written offer. Is there a basic template letter I can use or do I need to get an attorney to write this up? Thanks in advance! [link] [comments]  |
| Posted: 10 Jan 2020 01:39 AM PST I figured I would put this in the RE subforum, as the purchase of real estate is prompting me to compare both of these companies this weekend. For those who have recently used either/both, any suggestions? [link] [comments]  |
| Posted: 10 Jan 2020 12:33 AM PST We are currently in escrow, the seller is foreign, so FIRPTA applies. The house is between 300k-1000k so that would mean that 10% FIRPTA can apply. but since we are not sure if this place will be our primary residence for the next 2 years we opted out on the affidavit, so it's 15%. Now our escrow company sent us the following draft for the FIRPTA addendum. https://i.imgur.com/vztkx1u.png So we are wondering why any buyer would ever sign this, because it completely releases the escrow company of any responsibility in case they make a mistake and release the funds early, or send the wrong forms to the IRS. They are trying to have the seller send out 8288-B but we refuse to give the seller our social security number for privacy and security reasons, we also do not intend to sign this addendum. We do really like the house, and we want to close on this property, but the escrow company is making it difficult. So here are my questions: 1: Can we as the buyer force escrow to reduce the price by 15%, and send that as a check along with the 8288 forms to the IRS, and force the seller to close escrow? 2: why can't the escrow company just assume the role of withholding agent? Is this really a normal FIRPTA addendum? [link] [comments]  |
| Real estate markets that are declining YoY, thoughts? Posted: 09 Jan 2020 03:57 PM PST What's everyone's thoughts on real estate in an area where prices are falling such as Binghamton Metro,NY or Scranton PA? Poverty rates/vacancy rates are high, but they are very cheap at least to my standards. What's everyone's thoughts? Do they look for things to improve or do they attempt to buy and catch the falling equity knife and try to catch it when it bottoms out? This is in regards to all types of properties but I'm talking specifically multi fam. Also looking for anyone experienced in those markets to explain what's going on there demographically if able to! Are those areas really as bad as market research is suggesting? [link] [comments]  |
| Posted: 09 Jan 2020 11:07 PM PST In my County (Alameda County, Bay Area) there's a program that offers 100k interest free down payment assistance loan for first time home buyers. Catch is you have to income qualify and for 2 people that's 100k max. You don't have to pay back the loan until you sell the house. If you never sell, you repay after 30 years. However, you can't get anything decent for under 700k and at that point, a 100k loan doesn't seem to make a dent. Is it worth taking advantage of this opportunity? I currently rent a pretty nice 2br home for 2,500 but buying something similar would probably be a 3k mortgage plus property taxes with this loan included. Is renting the way to go? [link] [comments]  |
| Buyer requested we move out 5 days before closing. Why? Posted: 09 Jan 2020 12:03 PM PST We have finally (yay) sold our home. In the initial offer, the client requested that we move out 5-6 days before the date of closing. This is setting off a red flag for me. The home passed inspection with flying colors (home is only 4 years old). There were a few minor repairs, we agreed on them, and they have been officially completed and so he is locked in. We are not allowing him to move in early for liability reasons. What reasons could he have for demanding we move out 5 days early? It was one of his non negotiable items. I'm so nervous he did that to come in and find more things he wants changed or to give him time to back out the deal. To give insight, he has been extremely difficult to negotiate with (SIX counter offers when the house was already priced $15k lower than our comps because we were in a rush to sell). After the inspection, he sent an enormous list of frankly offensive demands. Both my buying and seller realtor told me they'd never seen that before (they were all cosmetic, minor repairs). Have you seen buyers demand the seller move out early when they are not allowed in the home except for the final walk through, which doesn't require us move out early? I have a bad feeling about it, my realtor says it isn't normal, but he's locked in at this point so I am trying to understand his reasoning for wanting that since his original offer. TYIA! EDIT: I can't put my finger on why this dude is requesting this but based on my instinct and all your wonderful feedback, we found a compromise. Going to remove the lock box and make sure the whole house is sealed/locked up tight before we vacate. They can enter the home one time, with their agent for the final walk through which is 24 hours before closing. That puts my mind at ease. Thank you! [link] [comments]  |
| Home Occupancy in a 4 family property? Posted: 09 Jan 2020 05:38 PM PST I just had a question on occupancy. I am purchasing this property as a primary residence when it already has 2 out of the 4 units occupied, I plan to occasionally live in one of the units (like ONCE a month) while collecting rent from the 2 other units to pay for the mortgage. fyi purchasing this property as a investment means a higher downpayment which I want to avoid. Is this considered occupancy fraud? If so how would the mortgage lender check. Also my credit score is really good and the property that I own now my payments are always on time so I have a clean slate going into this deal. [link] [comments]  |
| Basement master bd effect on market value Posted: 09 Jan 2020 09:07 PM PST I am planing on buying a tr-level style home with an unfinished 650sqft basement in the Denver market. There is already a master on the top floor but rather than remodeling the room and the bath, I am planning on creating a master bedroom on the bottom floor where I live and rent out the top floor. I plan on utilizing the entire 650sqft for a walk in closet, master bath, and a bedroom and create egress windowS so that I can get plenty of sunlight in the room. What does this do to the value of this house? Will it be lower than finishing the basement into a bed room and a living room space? How will market perceive having two masters when selling the house? Thank you! [link] [comments]  |
| House listing has been posted and removed multiple times in the past year Posted: 09 Jan 2020 08:57 PM PST First time home buyer starting the search in a hot market. Going to look at a house this weekend that seems to be an investment flip. Looking at zillow's price history, the house was listed and removed 5 times with varying prices since April 2019. The newest and current listing is from November 2019. My question is, what's the mindset with the listings? Seems very sporadic and not the most confidence inspiring for me as a buyer.... Any clarification or hypothesis are welcome! Thanks! [link] [comments]  |
| Toxic landlords entering property without notice. Wanting to end lease early to buy a home. Posted: 09 Jan 2020 08:12 PM PST Hey all, long story here but I am in a sticky situation So about 6 months ago My wife dog and I moved into my current residence under private landlords (not a company) and things were fine for the first five months, then a month ago my wife was in the shower and my landlord, came around beating on all the doors and windows and eventually entered the home while my wife was naked, in the shower, without notifying us two days in advance like they should. I was concerned and texted them asking if something was wrong and why he felt the need to enter the house, and my landlords wife called and left a voicemail and apologized for him breaking the rules (claimed he had dementia and forgot the rules), then later that night I got a call from the same landlord and she was screaming at me, claiming that I was subletting, had three dogs ( I had gotten a second dog, testing it out as an ESA for my wife and decided not to tell them, my bad) and that I needed to leave the house immediately, then we negotiated a meet at the house and came to terms that I could have the second dog after paying another pet deposit. But my wife is uncomfortable in the house because if he was comfortable enough to enter the house that day he had certainly done it before, and we've noticed weird things around the house (Heater being on, doors being open) but we never paid it any mind until then. Then the week after all this one of our friends told us they were moving and they would sell us their house at a very good price, (we live in an expensive area) and we want to jump all over it, but the thing is the landlords don't want to come to an agreement to give us a homebuying clause or even come to any agreement to let us out of the lease. So I'm considering my options. I could either vacate and cut all ties and pray that if they take me to court all their violations would help us win Or come to an agreement about how much we should pay to get out Or suck it up and stay and be uncomfortable and anxious in my own home for the next 6 months. Any and all advice is appreciated. Thank you. Edit: WA USA [link] [comments]  |
| Anyone here use Tenant Cloud Property Management software? Posted: 09 Jan 2020 07:46 PM PST I've been looking at using Tenant Cloud to manage an apartment complex. Love their feature set but don't know anything about their online payment provider TC Payments by Dwolla. Concerned about money held up in account and exposing my tenants data. Looking for good, mixed, or bad experiences. They have the best options for international payment which is important to our business but I don't want to tether myself to a shady or unreliable payment system. Really torn because the feature set is great. [link] [comments]  |
| Posted: 09 Jan 2020 12:12 PM PST My wife and I were discussing buying a house, since we have received an offer and are in the process of selling ours, which we decided to do by owner. Since I have an attorney that I trust, and I have basically gutted my entire house and renovated it so I know what to look for when buying. Do I really need a real estate agent when buying? My wife was telling me that most sellers or agents won't sell to unrepresented buyers. Is this true? [link] [comments]  |
| Owner-occupying Duplex - is traditional house-hacking possible in expensive markets? Posted: 09 Jan 2020 07:42 PM PST I purchased my SFR 11 years ago, and I'm sitting on ~$275K in equity today. I have rented a room out occasionally over the years but never managed to live for free—maybe covering half of my housing expenses. Now that I'm in my 30s, I'd like to benefit from rental income without sharing my personal space, so I'm looking at duplexes. I found one and thought I'd be getting into a good deal by rolling most of my equity into a new place and cutting my current mortgage payment ($950) in half. Id rather roll my equity into a new place because I like to travel and the thought of having less of a monthly payment to offset those expenses appeals to me. I also don't have kids nor plan to have them, so I'm not worried about saving then signing away a huge nest-egg for college tuition. I'm questioning myself now because everything I'm reading seems to assume that one should be able to get into a duplex and have the renter pay the entire mortgage—should this really be achievable in today's market?? I'm looking at a $650k property in the mountain west. Each unit is 3 bed/2 bath/2 car attached garage, but both sides need updating. Mortgage would be ~$2360 with most of my equity (or $2840 with only 20% down), and rents would be ~$2000 after updating. Does this still sound like a good situation? Is putting more than 20% down a bad idea? [link] [comments]  |
| Looking for tips and warnings when interested in purchasing house from current landlord. Posted: 09 Jan 2020 07:20 PM PST I have been renting my current town home from my landlord for the past three years and I still have about 6 months on the current lease. She just emailed me saying she is looking to sell the house at the end of my lease. She has been managing the property herself from across the country and says the hassle just isn't worth it for her anymore. Before she notified me, I had been toying with the idea of offering to buy the town home and keeping it as a rental property when I leave the area in about 18 months. Can you offer any tips or warnings on considerations and how to go about making an offer? This would be my first home purchase. Should I respond to the email saying I'm interested or wait to get my ducks in a row first. Should I hire an inspector to look at everything before making an offer? Thanks! [link] [comments]  |
| I have listed a house for rent - but can’t seem to get it rented... Posted: 09 Jan 2020 06:58 AM PST I've had 34 people request information on the property since I put it on the Zillow family of websites on 12/17 - but only about 8 people have viewed it and no one has applied. I'm wondering if I priced it incorrectly or if maybe the holidays were just a slow time for people looking? [link] [comments]  |
| Owner of house offering seller financing Posted: 09 Jan 2020 06:30 PM PST Hi! I am looking at a amazing property that has been for sale for a few years and the owner is offering seller financing. What does this mean I true,y have no idea Thanks! [link] [comments]  |
| Posted: 09 Jan 2020 06:20 PM PST When we went under contract on a new build (already being built with no customizations possible) the closing date was set for 1 month after the building completion date. Our building is now 1 month behind which we agreed was a possibility. We have been requesting the builder send an addendum with a new closing date but at this point they are only agreeing to give us about 2 weeks to close. Our lender said we need a month after the building is complete. I've been searching our contract but I can only find the closing date listed and not the building completion date. If we cannot agree on an addendum, the building completion date now matches the original closing date. Since we cannot close on the same day as building completion would this mean we are defaulting on the loan? In our contract that means earnest money, buyer, and seller realtor commissions are still due. This seems crazy but the builder has been impossibly difficult to communicate with and refuses to reply to anything in writing or email. (phone only) [link] [comments]  |
| Posted: 09 Jan 2020 05:43 PM PST Long story short. I purchased my first house 4 years ago for 250K, its a 4 BR, 3 Full/2 Half baths, half finished basement and 3,600 sqft and 0.7 acres located in SouthWest Ohio. (This is not in an affluent neighborhood but it is within city limits and a family-oriented area(almost no apartments for several blocks) not exactly crime free but its tolerable and not the considered the hood by any means.) I've had a realtor which I'm familiar with and has sold homes in my neighbor notify me that my value has increased to 315K and my mortgage loan is down to 206K. I like my house but I'm not in love with it, its a little more house and acreage than I'm comfortable with and able to keep up with by myself working full time. I know that you rarely get what its valued at in most cases and I haven't planned on think of selling for about 3-6 years, but should I pull the trigger and put the house on the market and pocket at least ~$70K? [link] [comments]  |
| How to find the right realtor? Posted: 09 Jan 2020 05:13 PM PST We are relocating to the Medford, OR area and are hoping to find a property with acreage for our animals. What is the best way to find a realtor for country properties or does it matter? [link] [comments]  |
| Agents & Realtors of Reddit, what are the best programs / apps you'd recommend Posted: 09 Jan 2020 01:17 PM PST What I have so far Mojo: bought some of their packages & have set up appointments from it. Just got back from one. Bombbomb: sent one email message with video and got a reply. Liked it. HTCagentOne: App showing a quick seller net or buyer payment Looking for any other services, no matter how inexpensive or expensive, that change the game, such a voicemail sending services or anything else at all. [link] [comments]  |
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