Surprise ! No more rental broker fees paid by tenants NYC Real Estate |
- Surprise ! No more rental broker fees paid by tenants NYC
- Anyone else hate this HGTV/Fixer Upper craze with homebuyers?
- Spam after buying a house
- Refinance
- Serious House Concerns After Reading Homebuyer’s Report - Do I Buy or Run?
- 401k loan to cover down payment gap for 2 months?
- Advice and recommendations for first time home buyer as an investment
- Which rate would you take?
- Landlord gave us 60 days to move because they can’t find and fix a water leak somewhere. My sister says they have to give us 4 months because of some HUD law. Is there any truth to this?
- Zillow has my undervalued almost $200k - is this a good thing?
- Opendoor and Offers
- (Large) Property Developers - how do you go about implementing in-house gyms? Do you hire a company to set up / run a gym and then pay them? Do you build out the gym yourself and do the hiring and have the employees on payroll?
- Looking to purchase a house in Nevada and renting it out, help
- Is it normal for loan officers to push a preferred realtor?
- Is there any reason we should/shouldn't close early?
- Looking to buy a house, but it needs Radon Mitigation, Questioning the methods.
- Do I (the seller) need a copy of closing docs years after the sale?
- Seeking advice and insight
- How low is to low?
- Realtors being aggressive with us, tenants mid-lease, while trying to sell home
- So how much do I really need for a deposit in LA?
- Purchasing Land With no realtor or lawyer - seems okay but how do I proceed?
- Condo Association Reserves/Other Questions (First Time Homebuyers)
- NYC, just passed real estate exam looking for a sponsoring broker
- Confused about new mortgage options. Opinions please?
| Surprise ! No more rental broker fees paid by tenants NYC Posted: 07 Feb 2020 03:46 AM PST |
| Anyone else hate this HGTV/Fixer Upper craze with homebuyers? Posted: 06 Feb 2020 12:03 PM PST We're in the market for a fixer because that's all we can afford, and (quite literally) every man in my family has been doing construction for 35+ years... but we keep getting out bid by people that think they can flip homes. It's SO FRUSTRATING. Edited to clarify: People are buying homes way under their budget, and doing a horrible job flipping them, and then listing them for 200-300k MORE than they were listed 2 months ago. Edited to clarify again: I don't give a shit about my budget. That is what it is. We want to live in our "flipper" we're not looking to flip for profit. [link] [comments]  |
| Posted: 06 Feb 2020 08:51 AM PST I have bout several houses and I got like 20 spam calls a day after my recent purchase. I makes me want to tear out my eyes. I called back several numbers and they said they got it from the databases they subscribe that show I bought a house. I got a google voice number, but somehow they got my personal number. Any ideas where they got this so I can cuss at them? Is it my agent? Title? Lender? TELL ME WHO TO HATE [link] [comments]  |
| Posted: 07 Feb 2020 02:23 AM PST Hi all, I'm really struggling to understand how you gain money from the refinancing part of the BRRRR method. If I refinance the house at a higher value don't I then end up paying more due to a raised mortgage? I'd love some help guys, thanks. [link] [comments]  |
| Serious House Concerns After Reading Homebuyer’s Report - Do I Buy or Run? Posted: 06 Feb 2020 04:45 PM PST I'm currently in the process of buying my first home. It's all new to me, but today I hit a snag upon receiving the homebuyer's report from our admittedly incredible surveyor. I'll put it this way: there are so many issues that it's 45 pages long. Cosmetically, the house is in such good nick, but these were the urgent issues that arose from the report:
These are just the urgent/level 3 issues, there were also a lot of level 2 issues that weren't as prevalent. My question is: is this a lost cause? Can the seller be enforced to repair all of these issues prior to purchase? Or do I just drop the house and run? I wanted a long-term, ready-to-move-in home, not a project or a property I can flip. I've sent the report on to my solicitor, but I'd love some feedback if anyone has any. [link] [comments]  |
| 401k loan to cover down payment gap for 2 months? Posted: 06 Feb 2020 08:56 PM PST Putting down 10% on a $750k house. Need approx $90k to cover closing costs. We had been planning on moving in April/May, but a new construction that we really love is available March. However, we're approx $25k short on downpayment since we were relying on a (guaranteed) bonus in April. Our mortgage is fairly low compared to income (15% DTI) and I was wondering if I could take out a $25k loan from my 401k (it's low/mid 6 figures so fairly small temporary dent) and pay it back with my bonus the month later. I confirmed with my 401k vendor that this is possible, but I am curious if this is seen as sketchy by the mortgage people? [link] [comments]  |
| Advice and recommendations for first time home buyer as an investment Posted: 06 Feb 2020 06:14 PM PST If you were starting off in real estate, what advice would you give your 25 year old self. If you are younger, what advice would you give yourself 5 years ago. I'm a first time home buyer and am looking to buy a house in the next couple weeks. What tips do you look out for and what is the most critical decision maker outside of cash flow when deciding on a house. [link] [comments]  |
| Posted: 06 Feb 2020 06:28 PM PST Under contract on a home and getting ready to lock in a rate. Deciding between: 3.5% (3.5 apr) with a credit of .5 % or 3200 dollars or 3.375 (3.42 apr) with a cost of 800 dollars It's a jumbo loan (house is $800,000 and putting 20% down). Based off my math it will take a little under 7.5 years to break even. Planning to stay 6-8 years. Would appreciate any input in deciding. [link] [comments]  |
| Posted: 07 Feb 2020 12:02 AM PST I don't think they have to give us more than 30days. Am I wrong? On a month to month lease since original one year lease was over a couple years ago and they didn't have us sign a new one. [link] [comments]  |
| Zillow has my undervalued almost $200k - is this a good thing? Posted: 06 Feb 2020 10:20 PM PST Location: TX I live in a gated planned suburban community. I noticed Zillow has the value of the property listed around $300k. The exact floor plan of my house with similar upgrades sold on my same street and the next street for about $510k - $565 (around 3 houses over the last 12 months). Other houses with similar living space, lot size, and upgrades are being sold for around a similar price. There is still new construction going on by the builder and similar houses go for a tad more (around $600k). My house was purchased new around 3 years ago. I noticed some of the houses on Zillow have the exact same undervalue and some of them don't (seems 50/50). I have spoken to a few real estate people in the area when they have had open houses and they have said ignore Zillow - only thing matters is previous home sales and what people are willing to pay. They have told me the houses in my particular sections of the community usually are on the market for less than 30 days. They also told me they would expect my house to sell similar to the other houses. I don't think I should be concerned about anything. However, I wanted to bounce this off the group since it's my first house. A few people told me the low Zillow price could be used to my advantage to petition for lower property taxes. I have used two different property tax specialists for the last two years and even with a protest hearing, the property taxes were not lowered. I have read on our Nextdoor from around 30 people and speaking with neighbors and friends seems like no one in the last few years have gotten property tax reductions even if they have protest hearings - and it mostly seems the county is ignoring Zillow values. Should I do anything with Zillow? I don't have the house claimed as mine. If there is a chance I could get the property tax lowered with the lower Zillow value I am ok. How long I stay in the property is a little bit in the air. I have no reason to move and was planning on staying there for 10+ years. However, part of me is thinking I might be ready to move to a bigger house or a different city within 2-3 years. [link] [comments]  |
| Posted: 06 Feb 2020 10:11 PM PST We put an offer in on a home owned by Opendoor today using a traditional buyers agent. The house has been on the market for several months. A few hours after putting in our offer, they contacted our agent and said that "multiple offers" had been made. If we wanted to modify ours, it needed to be done by 6:30 today. Apparently, an acceptance decision will come tomorrow. After some consideration, we decided to stick with our initial offer. I know it is possible that they got other offers, but is it also possible that they are just bluffing? Are there laws around that, or is it common practice to drum up higher offers? We do like the house quite a bit. Hopefully, we made the right decision. [link] [comments]  |
| Posted: 06 Feb 2020 05:57 AM PST |
| Looking to purchase a house in Nevada and renting it out, help Posted: 06 Feb 2020 09:44 PM PST Hey guys, I really have no idea what to do but I'm money ready and looking in Nevada to purchase a house and rent it out. Is there some guidebook or educational videos you guys recommend I read or watch before jumping in? [link] [comments]  |
| Is it normal for loan officers to push a preferred realtor? Posted: 06 Feb 2020 09:39 PM PST I've recently been working on getting preapproved through two lenders (New American Funding and Vylla) for an FHA loan. They both naturally asked whether or not I was working with a realtor and I said that I wasn't currently, but I will be once I'm preapproved. My credit isn't the best and don't want to waste anyone's time looking at homes if I can't get financing. After I answered their question, both loan officers recommended a realtor to me. The New American Funding LO actually recommended his mother and the Vylla LO recommended an agent that seems to work for Vylla. My gut is telling me that I should find my own realtor because a lender-recommended realtor stinks of conflict of interest. [link] [comments]  |
| Is there any reason we should/shouldn't close early? Posted: 06 Feb 2020 08:37 PM PST We ended up putting an offer on a house and getting all the stuff in-between done in just under a week. Inspections done, credits for repairs accepted, appraisal completed the day after they were ordered. Our loan officer said in theory we could close tomorrow. Our original closing date was March 2nd We don't have anything holding us up. Our landlord is chill and will let us leave whenever in March (just pay prorated rent when we leave). Is it better to close before or after the 1st? Does it really change anything? We'd like to minimize the time we pay for rent and the house at the same time but we also have really busy jobs and could use a leisurely rollout. [link] [comments]  |
| Looking to buy a house, but it needs Radon Mitigation, Questioning the methods. Posted: 06 Feb 2020 08:15 PM PST The house I'm looking at needs radon mitigation done, as it tested at 4.4pCi/L on the main floor of the house. The estimate that came back today was for 3 separate taps situated in the basement, for a total cost of $1270, which was considerably higher than the ballpark. The experience I've had before with radon only involved putting in one tap. Is there a specific reason why three would be needed? This is the home: https://www.zillow.com/homedetails/63-Walnut-St-Shelby-OH-44875/86628452_zpid/ [link] [comments]  |
| Do I (the seller) need a copy of closing docs years after the sale? Posted: 06 Feb 2020 02:10 PM PST My realtor from selling my childhood home in Florida seven years ago just reached out to me out of the blue; the agency is about to shred old documents and he asked if I wanted another copy before they shred whatever closing docs are in their files. The sale closed in 2013. I can't imagine why I would need another copy of the closing documents for a property I haven't owned for the better part of a decade, but I don't have the sale documents anymore and I'd hate to need them for some reason in a few years and not be able to get them. Do I as the seller have any need to keep a copy of the sale documents at this point? Or can I just tell the realtor to shred away? Thanks! [link] [comments]  |
| Posted: 06 Feb 2020 07:57 PM PST Is 2020 is a favorable year to buy a house or should I wait a few more years? [link] [comments]  |
| Posted: 06 Feb 2020 06:41 PM PST My wife and I are going to an open house on Sunday, I did a drive by today and the neighborhood looks good and from what I can see/what my realtor has sent me I really like it. It has been on the market 10 days, they are asking $375k for a 3 bed/2 bath 1400 sqft ranch in a suburban town on the south shore of MA. It last sold in 2012 for $205,000 the owners have put on new roof and installed new gas furnace. We've been approved for $450k so financing isn't an issue but I can't help but think that this home isn't worth that much. That's $275 a sqft where most of the home with the same specs have sold for $210-250 a sqft. Assuming everything checks out I would like to offer $335 - 345k. Is that a low ball offer? [link] [comments]  |
| Realtors being aggressive with us, tenants mid-lease, while trying to sell home Posted: 06 Feb 2020 06:20 PM PST I'm sorry if this isn't the best place for this question, I'll kindly repost somewhere else. We have 5 months roughly left on a lease and we were notified that the property we rent was being sold by a text about an open inspection. The realtor contacted us and apologised for no notice, apparently text was sent out early by her PA. This is in Victoria, Australia. It is an urgent sale and an auction will take place within a month. They asked for 4 open inspections (their preference) or private inspections. Open inspections to take place midday Saturdays for half an hour. My partner looked into the basic legalities and found that they cannot take pictures of the inside of our home without permission (which they are pushing for heavily) and we are by rights allowed quiet enjoyment of our home. Any private inspections can only take place with 24 hours notice of when we receive the notice. I'm currently interstate for this weekend, which makes things harder, but my partner has told them we will allow photos of certain parts of the house (they have full home photos from the condition report anyway) and will allow three open inspections including one of the day of auction. The realtors met with my partner last night and one of them was very aggressive, threatening to make this really difficult for us and raising his voice. We asked for compensation if they insisted on open inspections while I'm not there (this entire affair is hell on my partner's anxiety, she didn't sleep last night), week's rent or something to that effect. We are also very private people with a cat that can't go outdoors (Feline immunodeficiency virus) and is really skittish/stranger shy, and don't like the idea of people going though our home when we are at work and no one being able to calm the cat and keep it from escaping. They are now asking for more and threatening to bombard us with letters of intent for all hours of the day basically bringing people through the house from 10 to 6 each day. Tradespeople and prospective buyers. I can provide limited help while I'm interstate but does this all seem way too much from them? Can we/should we try and get a restraining order so they can bring people through at only agreed upon time and when we are there? I've heard things like only 1 visit per week is normal but it's all anecdotal and I find it tricky understanding the legal side of all this. Thanks for reading the text wall, any advice or questions appreciated. [link] [comments]  |
| So how much do I really need for a deposit in LA? Posted: 06 Feb 2020 05:48 PM PST I've heard 20% isn't necessary, but what's realistic for a young couple? First time in my life I've ever considered buying a home, and I know the property value is going to skyrocket where I'm interested. All advice is appreciated! [link] [comments]  |
| Purchasing Land With no realtor or lawyer - seems okay but how do I proceed? Posted: 06 Feb 2020 05:35 PM PST Hi guys, Seller posted land on craigslist and it is exactly what I'm looking for. The land is in MN. The guy selling it seems real and telling the truth and all as I spoke with him on the phone. Basically he said we would do a purchase agreement that he would write up, both of us sign, then he would take it to the closing company after I put down $1000 earnest money. I find that fair but I am always on guard with people trying to screw others out of things. Is there anything I should be concerned about or watch out for? Should I ask an attorneys office to represent or if we both took the purchase agreement to the closing company, or sign right there, would that be good enough? Thanks in advance [link] [comments]  |
| Condo Association Reserves/Other Questions (First Time Homebuyers) Posted: 06 Feb 2020 05:34 PM PST I was hesitant about a condo but found one I really like. Things have been going well, generally. However, the condo docs have been an issue. Does anyone who regularly reviews condo financials have recommendations for looking at the balance sheet and budget? Any recommendations of what to ask the managing company? What's a typical amount for an association to have in reserves? It does seem that they have been doing maintenance over time. I saw 10% of annual budget in some places, but I'm not sure if that's generally accepted. Does it often happen that reserves get depleted over some years as major projects are done, like repaving, then built in other periods? I've also seen things about reserve studies. Is that something condos usually have done each year and should have readily available? Sorry for all the questions, I'm just trying to determine what to ask and how to analyze things. Thanks in advance for reading and for any responses! [link] [comments]  |
| NYC, just passed real estate exam looking for a sponsoring broker Posted: 06 Feb 2020 05:10 PM PST So, as a side thing, I just passed my NY real estate agent courses and passed the state exam. I'm a software engineer by day and plan on continuing working my day job. I probably won't put more than a couple hours a month into a real estate as I'm just doing it for fun. Can anyone recommend me a broker that wouldn't mind bringing me on for minimum monthly fees or is this crazy? [link] [comments]  |
| Confused about new mortgage options. Opinions please? Posted: 06 Feb 2020 03:44 PM PST |
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