Buyer's realtor made unauthorized changes to my home before closing Real Estate |
- Buyer's realtor made unauthorized changes to my home before closing
- Duplex owner/occupiers: how do you like it?
- Initial Offer Advice for 1st-Time Buyer
- Is it more or less likely for a sale to fall through if a home doesn’t appraise?
- What impact does the Coronavirus have on the housing market?
- [CA] How to define 'Market value' for home addition regarding tax reassessment
- [Agent] Help with Tracking Conversion Rates
- A response I got to a post about selling my dad's commercial property (looking for advice)
- Using Tax Return To Buy house (Source and Seasoning issue?)
- Purchased Condo Property Management Company Misrepresented Owner Occupancy Ratio
- Real Estate Exam Help
- Price Dropped on a House We Love - Problem is Our Potential Buyer's Agent is the Seller's Agent
- Parents buying a house, about to back out and open themselves to lawsuit
- Realtors: what does it mean when you see a house for sale with like one photo of the outside and no description at all?
- I'm First home buyer
- Are there any disadvantages or special considerations that need to be taken into account if you want to turn a single family house into a multifamily?
- Is the key to real estate to get a loan to buy properties, successfully find tenants, and then pay back what you owe in interests?
- I'm in Denver, and I'm just over halfway through my real estate classes. Want to hit the ground running, literally. I have experience door knocking selling basically everything else. Any tips?
- Put in an offer on a house I loved and now it's gone. Is this what it's going to be like?
- Rates are down, but will they...
- County lost the deed restrictions?
- Buying a house before selling our current home?
- Dispose of undeveloped lot
- Confused about seller potentially accepting other offers after accepting our offer and signing contract
| Buyer's realtor made unauthorized changes to my home before closing Posted: 28 Feb 2020 01:19 PM PST I would like some advice please. I'm selling my father's home who recently passed away. It is under contract but the closing has been delayed several times now. I am not living in the home and have put the thermostat very low to keep the pipes from bursting from cold weather. (I live in North Carolina and sometimes it gets very cold in the winter time.) I got the power bill the other day and it was outrageously high so I thought something must be wrong. I make the trip to the house and as soon as I get there I notice things have been changed. The back deck had been sanded down and painted, the front porch had been painted, and as soon as I walked in the back door I noticed someone had cut a big space out in the linoleum at the door and put a new piece of linoleum that didn't even match. I noticed dust everywhere and then I saw where someone had been sanding on the ceiling. There was a big black trash bag with their trash and beer bottles in it. I couldn't believe my eyes! I immediately called my real estate agent and she had no idea about it so she said she would call the buyer's agent and see what was going on and then call me back. after a few minutes she called me back and said the agent told her she herself hard people to come in and make the changes to make the house appraised at a higher value. The house had already been appraised, we were already way past that point! My agent was upset about it and I have a real estate lawyer who is helping me with the probate process of my father's estate and when I told him about it he could not believe it! my attorney called the buyers closing attorney while I was in his office and ask them if they knew anything about it and they knew nothing but said that they will try to find out what is going on and let my lawyer know. My lawyer said that he will contact me as soon as he has heard something and he has not heard anything back from them yet. I know it probably sounds silly but every time I would walk into the house I felt like my dad was still there in a way and now I feel like people have come in and trampled in the house and done things without my knowledge and it makes me upset. Has anyone ever heard of this happening and what can I do about this if anything? [link] [comments]  |
| Duplex owner/occupiers: how do you like it? Posted: 28 Feb 2020 09:04 AM PST I'm looking at buying a duplex, and I'd love to hear from anyone who has some experience with owning the duplex that you live in. I'm looking at it more to defray housing costs than as a way to start a real estate empire, but I'd love to hear if you thought the hassle of being a landlord was worth the extra value and lower cost, or if you'd caution someone against it if they're not looking to own a bunch of rental properties. [link] [comments]  |
| Initial Offer Advice for 1st-Time Buyer Posted: 29 Feb 2020 03:01 AM PST Hello all, I am 23 years old and looking to purchase a condo in my area. I have enough saved for a small downpayment and have been pre-approved for a loan of $130,000. I recently found a 2 bed 2 bath condo that is in a decent location, looks great (renovated), and is in a good HOA community. The list price is $116,500 which is definitely on the lowest end for my area. Other similar condos in the neighborhood have sold around $105,000-$115,000, but most of the condos on the lower end weren't renovated. The renovated units have gone for around $115,000. The condo has currently been on the market for 72 days. Is this considered a long time? If so, should I offer lower than asking? I would of course like to get my costs as low as possible. I don't want to offend the seller or come off as a non-serious buyer by offering closer to $108,000 (I'd expect that they'd be most likely to counter in the middle?). Does this seem like a lowball offer to you? Thank you for your help! I'm flying blind here with no experience. [link] [comments]  |
| Is it more or less likely for a sale to fall through if a home doesn’t appraise? Posted: 29 Feb 2020 03:27 AM PST I'm in a sellers market and the house I'm trying to purchase was listed at $180, I decided to offer $185 and I pay closing because there was a multiple offer situation. Two of the houses in that neighborhood were listed at $185 but one sold for $180 and the other for $170. I have a feeling it's not going to appraise for quite $185. Our closing date would be March 10th which isn't even two weeks away. I'm buying in west ATL near the Paulding area if that helps any. I know that's a question no one has the answer too, but this is my first time buying a home. What's the likelihood of a sale still going through if it doesn't appraise by $4-$10k? [link] [comments]  |
| What impact does the Coronavirus have on the housing market? Posted: 28 Feb 2020 09:12 PM PST Do our homes go down in value? I was thinking of selling the house in the next three months but now it has turned into bugging in and riding the coronavirus wave. [link] [comments]  |
| [CA] How to define 'Market value' for home addition regarding tax reassessment Posted: 28 Feb 2020 11:45 PM PST I know that CA does blended assessment but what I'm trying to understand is how to estimate the 'market value' portion of the new addition. For example, let's say the house is worth 2,000 sqft @ $500 / sqft = $1,000,000. You add another 2,000sqft @ $200 / sqft cost = $400,000 total cost. Similar 4,000 sqft houses are sold for $1,800,000. So would the market value of the new addition be $400,000 or $800,000? I think it's the former since land is already factored into the existing assessment, but I just want to confirm. [link] [comments]  |
| [Agent] Help with Tracking Conversion Rates Posted: 28 Feb 2020 11:18 PM PST https://gyazo.com/8b673321278dd743cb9e1094a36ea8a9 So here is my conversion rate tracking spreadsheet I made that I'll update at the end of every week in a different per month tab and it'll auto populate the totals screen for the year. I'll list why each one is there so I don't get scolded for doing "30 different lead gen methods." Don't do that. I'm simply asking for your guys' opinion on what I'm doing for my business in terms of trying to figure out the best way to track so I don't glaze inflate my numbers.
Please help! I'm trying to figure out what would be best as I'm currently thinking in Lead Follow Up I'm only tracking contacts and then appointments being set AND I'd also the appointment being set in whatever lead source it came from. So I don't mess up a lead gen source and think I'm inefficient or over efficient in a certain source. [link] [comments]  |
| A response I got to a post about selling my dad's commercial property (looking for advice) Posted: 28 Feb 2020 01:24 PM PST So some background, my father owns a commercial building in the south side of Chicago. Over the summer it was broken into and all the pipes were stolen (happens often in this area). My dad wanted to rehabilitate the building and convert it from 1 unit to 7 units. I advised against this heavily because I'm worried the same thing that happened before is likely to happen again. Anyways I posted the property on several real estate facebook market place groups advertising that it is vacant and needs rehabilitation, and I am looking to sell as-is. One person responds saying this : I got another option for you to get the highest value for your property. We are a full-service commercial brokerage firm. We have a development department that can turn your property back into a 7 unit strip center, get it fully leased, then you will be able to get the highest return. If you are interested we can set up a call or meeting to go over some preliminary details. ------------------------------------------------------- I haven't responded yet but I'm curious about what he's trying to get out of this exactly. If he works for a commercial brokerage firm why doesn't he just buy it from me for a lower price and do what he wants with it and then resell for a higher? Thank you. [link] [comments]  |
| Using Tax Return To Buy house (Source and Seasoning issue?) Posted: 28 Feb 2020 04:45 PM PST Hello All, So wife and I got a sizeable tax return, roughly 8k. We are currently renting and our landlord told us he was selling house and if we wanted to stay we could and he would have the buyers honor our lease or we could move on. We decided to look into buying a house. I got a pre-approval VA loan from Huntington and started shopping. We have found the house, offer accepted, paid earnest money and all is good. Maybe I am looking into this too much but I am worried about the seasoning. I had about 1200 in the account before the tax return, we just got married and we spent a big amount on our wedding and honeymoon so I am re-couping. I do make much more than the average 25-year-old (113k in Ohio), and deposited $1500 into the savings not too much later after the tax return with another 2k going into the savings this march. My worry however is that the 8k and 1500 have not sat in the bank account long enough and the underwriter will deny us the house loan. I didn't even know about source/seasoning until after all the offering phase etc.. when I decided to look into why a loan officer wants your bank statements. I guess what I am asking is, are we f'ed? Thanks for any help you guys can provide. [link] [comments]  |
| Purchased Condo Property Management Company Misrepresented Owner Occupancy Ratio Posted: 28 Feb 2020 04:39 PM PST Hello, I purchased my first condo in Boston for $750 in December, it's come to my attention that the condo does not have the 5/6 owner Occupancy ratio stated by the property management company it actually had a 1/6 owner occupancy ratio(well 2/6 now that I've moved in). I talked to the I am fully moved in and have started to make small renovations. I talked to my real estate lawyer and he thinks that this is pretty crazy, and I should settle for damages but was unsure of how to calculate damages. I was wondering how you would calculate damages for something like this? [link] [comments]  |
| Posted: 28 Feb 2020 06:51 PM PST Can an intermediary agency occur in Texas when there are only 1 broker and 1 real estate salesperson? This topic is seriously confusing. [link] [comments]  |
| Price Dropped on a House We Love - Problem is Our Potential Buyer's Agent is the Seller's Agent Posted: 28 Feb 2020 10:05 PM PST My husband and I just started looking at houses. We have a loan pre-approval and are interviewing buyers agents right now. The agents that we really like and thought we were going to pick are also the agents for the house we like. We haven't finished with the interview process so right now we don't have a backup agent to go with. When I asked what they would do in the case that they represent a house that we like, they said they could refer us to someone else in their group that isn't part of their team. This is the Bay Area so houses are usually sold within a week of showing them and I feel we need to move quickly if we love this house. I want to make sure our interests are protected. Do you think we should quickly look for other agent to work with or should we ask them for the referral? Also if this house falls through, would we be able to work with them as our agent or would we be stuck with whoever we got in a hurry when trying to get this house? [link] [comments]  |
| Parents buying a house, about to back out and open themselves to lawsuit Posted: 28 Feb 2020 06:35 AM PST Not sure I'd post flair is totally appropriate but it's the closest to this I think. Throwaway account because reasons. This will be a bit long, sorry! My mom and stepdad are buying a house. They've been difficult buyers. I'm an agent licensed in the state of Texas, to be clear, and I declined to help them buy a house because I'm running a business in real estate photography and I now keep my license current only to access Supra boxes to make it more convenient for the agents that hire me for their listings. I did used to sell real estate, but frankly I'm not a salesperson, I don't have the personality for it. Moving on—again my parents have been difficult buyers. They've changed their minds a lot. They tried selling their house a while back and got multiple offers and picked a buyer that REALLY wanted the house (it's a true original MCM). Then, despite the fact that here the contracts are unilateral in favor of buyers, my parents decided not to go to closing and breached the contract because they decided after the fact my grandmother, who lived with them, was too old to move and the stress would be too much. Fair enough, but this is a decision that could've been made well before putting their home OTM. This is to set up an idea for y'all about their decision-making. Now, they have closed on their house and must be out this weekend after a loooong leaseback that's been pissing off the buyers. I've been trying to stay out of it for my mental health, but my mom keeps sending me updates and detailing to me her stress levels about it, and I've been asked to open doors for them when their agent "wasn't available" which was not what I signed up for, main reason I didn't want to be involved and referred them to someone else. They asked to live with us for a month or so until they could move into their new house (not closed yet), which my wife and I discussed and decided to decline their request. I referred them to an agent on my dad's real estate team (the one I mentioned above) who got fed up with them quickly. She showed them over 20 homes, wrote contracts for six, only to see them back out of all of them when a new, better listing came up. None were perfect enough. They had great homes under contract, mind you, and never went through the option period because they refuse to not have a pool and certain other things like a large yard and a workshop. That's fine to have those desires, but those listings aren't all THAT common in the area they want to live (closer to us and our kiddo). I should mention my stepdad has been driving most of this, he's impulsive and changes his mind a lot, and he's the one who MUST have these things or no deal, and as a result they've been complaining about impending homelessness. Now they have finally been under contract for a home where they planned on building a pool, waived option after all inspections were done, and I thought they were good. Nope. They finally got the survey and found out there's an OHU easement right above where they want to build a pool, and are now considering dropping out of the contract due to this. I feel this is extremely rash and impulsive. I've wanted to scream at them for making extremely dumb decisions and once again they will open themselves to a lawsuit. Last time they were lucky they didn't get sued. Now they are dealing with a flipping company, and that seems more likely they'll get sued. They are wanting to move into a hotel, which seems crazy to me, and I'm not sure if they even know 100% that they can't build a pool there. So, does anyone who has experience with this particular thing know if it's 100% that they can't build a pool under the utility easement? I'm trying to find out mainly because it's either this or I can have a frank talk with them about their decision-making and it will probably go nowhere. I don't want them to live in a hotel but my wife and I have been going through a lot of emotional turmoil since the beginning of the year and we cannot have them living with us right now nor reward their bad decisions and have them inevitably overstay their welcome (they don't work, my stepdad has disability). And their decisions have ultimately led to their plight, only for them to double down and want out of a contract that will be a BoC case waiting to happen. I don't care about my referral bonus at this point even though we could use the cash, I just want them to be moved into a house so we don't have to hear about their self-made issues anymore. I've stayed out of it as much as I can but I'm hitting a breaking point at restraining myself from telling them how stupid they are being here, and again I don't know that they are actually sure they can't build a pool there. I think they are panicking and being impulsive, so if anyone knows if there can be exceptions to building under overhead utilities or if it's even a dealbreaker I'd really love to know. I'm sure they need to call the city probably, but they don't seem like they intended to do so and are just making assumptions. If they breach this contract, I don't know what will happen and I won't be referring them to anyone, nor will I help them. The agent to which I have already referred them seems to have washed her hands of this and I don't blame her. [link] [comments]  |
| Posted: 28 Feb 2020 09:09 AM PST I see this occasionally in my area. It will be a legitimate real estate company listing the property that isn't bank owned and it's like they put 0 effort into advertising the property. As easy as it is to snap a few photos and write up a short description, how/why is this happening? [link] [comments]  |
| Posted: 28 Feb 2020 05:03 PM PST I was looking around to buy my first house because I'm tired of wasting Martin rent but house prices is ridiculously high these days. Finally I quit. I know the mortgage rate is lowest ever but for me the price f**** matter too. Why I got to buy house of 100k for 180k. I'm Memphis great area. Does anybody have experienced what I'm talking about ? [link] [comments]  |
| Posted: 28 Feb 2020 08:26 PM PST My wife and I are looking to buy our first home. I've convinced my wife to get either a duplex or a single family house that could be easily converted. I just toured a house today that seems like it would fit the bill. It is about 2,200 sq. ft. and there is a section of the house that could easily be walled off and would have a bath room, large bed room/living area small kitchen, its own entrance. The rest of the house is large enough that we really wouldn't miss the extra space. Are there any disadvantages to doing something like this? The county property appraiser has the house classified as "Single Family". Would I have to apply to get the property rezoned? I grew up one county north of where I'm currently looking to buy a house. My mother inherited a single family home with an attached "efficiency" apartment. It had its own bathroom, kitchenette and entrance and was walled off from the rest of the house. She always rented the two sections out separately but paid for the water since there was only one water meter. If you search Miami Craigslist for [efficiency]( https://miami.craigslist.org/search/apa?maxAsk=650&query=Efficiency&srchType=A ) you will see a lot of listings for this type of apartment. It is something that is really common in South Florida. I'm assuming that my idea would be fine and legal though I want to do some more research to make sure. Since my mother inherited the house like that, she hasn't really be able to answer any questions on whether or not I would have to do anything special to get the house rezoned. [link] [comments]  |
| Posted: 28 Feb 2020 07:21 PM PST When exactly do you start keeping most of the profit? How many houses do you need to rent to keep around $2000 in profit? Thank you!! [link] [comments]  |
| Posted: 28 Feb 2020 07:02 PM PST I'm sure I can find scripts, but I'm looking more what should I know beforehand? Common objections, questions or problems I may hit. I was reading articles, but most of them had dead giveaways in them that the person hadn't door knocked. (One recommended giving potted plants as gifts.... how few doors you think I'm knocking that I can just transport all these -free to give to people who will kill them- potted plants?) Yes I know door knocking isn't the best or only thing, but I figure dedicate a couple hours a day 2 or 3 days a week when I'm starting, if for no other reason than to get that mindset back in full swing. [link] [comments]  |
| Put in an offer on a house I loved and now it's gone. Is this what it's going to be like? Posted: 28 Feb 2020 06:53 PM PST Found a house in my town in Oklahoma that was in my price range and was completely revovated. New kitchen, bathrooms, windows, everything. Someone else put in a bid at the last minute and got it. I'm heartbroken and stressed about what I'm going to do. Lease ends may 31st, so I have to either find someone just as good in the next few weeks or settle for a house that I'll wake up in everyday disappointed. Is it like this everywhere? Do real estate agents just let everyone know when there is an offer put in to purposely start bidding wars? [link] [comments]  |
| Rates are down, but will they... Posted: 28 Feb 2020 12:33 PM PST Go lower? This virus makes people crazy I was quoted for refi at 3.25 on a 30 year fixed. With a $2500 lender credit. Standard conforming loan, refinance. Do I wait until after the March fed meeting or lock now? [link] [comments]  |
| County lost the deed restrictions? Posted: 28 Feb 2020 06:06 PM PST I just purchased a property with the intent to develop a number of small cottages on it. During this process I did the following due diligence:
The first bit of site work started this week and I immediately began getting complaints from neighbors that my land should have restrictions and that what I'm doing is not allowed. I double checked all 3 points above at that point and brushed it off as whiny nimbys. Last night I received an email from the guy who originally broke that land into smaller plots saying that he did, indeed, put restrictions on every one of them. Is there something else I should have looked for? If there are no longer records of these deed restrictions, are they enforceable? My recourse seems to be to file a claim with my title company, but I don't want to do that until I'm sure there's a real problem. What could have happened to these documents? [link] [comments]  |
| Buying a house before selling our current home? Posted: 28 Feb 2020 02:20 PM PST I am sure this has been discussed many times, but with the market going down, and interest rates being low, I think buying a house before selling ours, which will be done in a few months would be smart. My spouse wants to wait until we have ours sold first, to have the down payment in hand. We have children, and pets, I would love to have our new place set up, so all the "mess" is out of the way. Am I crazy for pushing the idea to buy, first? Ours is a crazy market, and with our price point, should sell fast, but with kids in school we don't want to be out of the area until summer. Thanks for any pros or cons you may have. [link] [comments]  |
| Posted: 28 Feb 2020 09:13 AM PST We have owned property in an undeveloped community for 30 years. We've paid the taxes and HOA fees. We have both retired and cannot afford the taxes and HOA fees. We tried to sell the property several years ago but there was no interest. Are there any options available to dispose of the property? [link] [comments]  |
| Posted: 28 Feb 2020 01:37 PM PST Here is the deal:
Here's where I am confused-- it was always my understanding that once an offer had been accepted and contract signed, the seller could not accept another offer. Is that not the case because the contract is not under attorney review yet? Thank you kindly for reading. Edit: Before anyone even responds, I'm pretty sure it's the attorney review part that makes it ok to accept other offers. I don't like it but it sorta makes sense. I think I just answered my own question. Sorry. [link] [comments]  |
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