Update [CA] Buyers moved into my house before close without permission Real Estate |
- Update [CA] Buyers moved into my house before close without permission
- Manipulative realtor
- County agency to purchase my home
- Selling for a loss, what happens?
- Does it make sense for me to refinance?
- Home Equity Investment vs HELOC
- Part exchange and indemnity insurance advice (UK)
- [VA] 1950s house sits across my 2 lots. Must file consolidation deed and plat for City to approve addition. Working with lender will be a pain. Seeking advice. Thx!
- Should we replace all appliances before listing?
- {SC} Questions about buying a home?
- Buying a house that was built halfway on the wrong lot.
- House appraisal for widow(er)'s cost basis
- New buyer must occupy the house? Cypress, TX
- Closing costs question...
- New construction being built- can we ask the builder to add finishing touches to the garage in order to turn it into a man cave?
- How to find a good real estate agent in another city?
- HELP: How do I purchase real estate in Europe?
- Paint for deck in cold weather
- First job in real estate
- Rent to buy first property
- First time TN home buyers— non-ideal situation and could use some guidance!
- First house, downpayment question
- Question to Realtors
| Update [CA] Buyers moved into my house before close without permission Posted: 04 Feb 2020 10:12 PM PST Some of you guys seemed interested in this story as it was unfolding so I thought I'd come back and give you an update. I was really vague in the first post so I'll just retell the story now with more details, no need to go back to my original post. Last summer was our first time selling a house. We work full time with a baby and decided it would be easier to move out of the house before listing it and move into an apartment. Our buyers first saw the house the 2nd day it was listed. I saw them on my Ring camera. They loved the house. Their relative was my neighbor. They put in a series of offers that we kept rejecting. They were contingent buyers and their house wasn't even listed. They wanted a bunch of our stuff. We had an open house and everyone who came to it were also contingent buyers who didn't have their own houses listed. These buyers were the only ones putting in offers. We eventually agreed to something like they had two weeks to sell their house or we would take back up offers and if we got another offer they'd have three days to.. and no they couldn't have our stuff weirdos. They listed their house and it actually sold pretty fast! They had some drama with their buyers. We were flexible with dates as we didn't live in our house but time constraints led to them needing to be out of their house a few days before the closing of my house. I know this is where we made a mistake. No need to rub it in. They asked if they could move their possessions into our garage with their agent supervising the whole thing. My husband and I were under the impression that these buyers were going to be petty and annoying based on the series of offers we had previously rejected. Their agent had done a walkthrough of our house and declared all the rooms scuffed and worn down? House was only a couple years old, 4 bedroom house with 2 people living in it. We barely entered half the rooms. We saw this question as an opportunity. We told them that they could do this under the conditions of: we're not responsible for their possessions and can't be blamed for anything that happens to them and they can't ask us to fix anything even if things came up in the inspection. They agreed. Nothing came up in the inspection. The inspection report was awesome. One of our roof tiles was cracked and a light fixture was oh so slightly crooked. When we had moved out to list the house, we had left some furniture to stage the property. We had movers come by to retrieve the rest of the furniture and they accidentally made a hole in the wall. My realtor's husband is a handyman and we hired him to fix it before close. My realtor texted my husband and I at working asking for the code to our front door as she thought the buyers had our house keys. I was horrified that they had our keys as that is not what we agreed to! I joked to make sure they weren't living there. My realtor and her husband entered my house and the buyers were completely moved in! It was just the wife and her two elementary school aged children. My realtor told them to get the f*** out and the wife asked my realtor to please not be mad at her. My realtor's husband encouraged my realtor to calm down. My realtor was pissed. Buyer wife called their relative who lives nearby and he helped them pack and leave. I knew there was a drawer where we had kept our spare keys and garage door openers. My realtor confirmed that drawer was empty. The wife claimed that her husband had the house key. The husband gave the key to his agent that night and the agent delivered it to my realtor along with trying to give her $100 that she didn't take. This all went down on like a Friday and closing was postponed until Monday. I texted my next door neighbor asking him to please monitor the house for me. He told me that they had professional carpet cleaners come by that past Tuesday and then had full on moved in on Wednesday. On Thursday they had actually asked us if they could move in early. They told us a story that the mother in law (multi generational family - grandma, grandpa, husband, wife, 2 kids total in their unit) had fell and hurt herself because they were staying with their relative and there were too many people in the house. We responded that we hoped she was OK but we did not want to be landlords and they could get a hotel. They had already been living in the house. Their agent had conveyed that they were very sorry for moving in early without permission and they tried to blame it on their loan company for delaying closing. I spent the weekend stressed out about liability. They had stacked multiple rugs on our staircase for some weird reason? My realtor said that her husband almost fell walking up the stairs with all those rugs. I saw grandma and grandpa on my security cameras (that were removed the weekend before this shitshow) and they seemed not in the best physical shape. Their bedrooms were upstairs. My realtor had taken pictures. I was afraid that someone would get hurt in the house and sue us. Or that the house wouldn't close and we would have to evict squatters that could damage the house. I knew they stole the spare keys and probably would come back. I felt extremely angry and violated. We saved up for that house. We picked it out when it was a pile of dirt, customized it, upgraded it, maintained it.. and it felt like it was literally being stolen from us. Their agent gave them the key. I figured out from some Facebook sleuthing that their agent is their relative. Monday was closing day. We went by the house to pick up a couple things we had left behind. My realtor noted that there were things in different places and evidence they had come back over the weekend. I thought it was wild that they did what they did. They signed a document that we weren't responsible for what happened to their stuff and we had access to all their stuff and were angry. We didn't touch anything. Even though I was enraged I would not do that to another family. It just struck me how they put themselves in a risky position as well. We pretended like nothing was wrong at the closing table. My realtor mentioned something about potentially trying to get their agent's commission withheld but we figured we could raise hell after close and try to do something about it later, it wasn't worth it to hold up close. We were exposed to too much risk with the buyers squatting in our house. After close we escalated the situation to brokers. My realtor's broker talked to their agent's broker who said they would "talk to" the agent. Whatever that means. Their broker took no responsibility. If I'm remembering right, they threw the buyers under the bus and acted like it was totally fine that their agent gave them the house key. My realtor suggested we report the agent to some realtor societies and we probably should have. Working full time with a baby who doesn't sleep is rough. I'm at the point where I feel ahead if I fold my clean laundry. So we never did that. My husband is a lawyer. He did some research on legal avenues we could go down. We made a lot of money on the sale of that house. Even factoring in closing costs and everything we spent on upgrading the house, we made a profit. That isn't even factoring having a place to live for 3 years. We got paid to live in that house vs. paying rent. I calculated that the buyers stole about $70 in utilities plus rent. We could still take action against the buyers but for right now it is wild story. Don't let buyers put their stuff in a house that isn't theirs yet. Don't let them move in early. Don't leave spare keys in a vacant house. Don't take down your security cameras and internet at the house until closing day. Learn from us! I hope you are entertained by my wild real estate story. [link] [comments]  |
| Posted: 04 Feb 2020 06:26 AM PST We knew for 3 weeks my house was to be listed on Saturday,Feb 1st but by 10 am on that day nothing was online and there was no sign in yard. I called my realtor and she said it wouldn't be listed until Monday because of admin review. I received no answer as to why this wasn't done before the 1st. But wait! She already had an offer for the house and it was from her mother. I lost my temper on the phone and miraculously, the house was listed an hour later. Sign was in my yard shortly after. I now have 2 low ball offers on my house, including her mother's. Several scheduled showings have been canceled because my realtor calls the buyer's agent to say I have multiple offers already. My realtor has not advertised my home on FB, Instagram, or Craigslist as she promised. I believe this is all to manipulate me into accepting her mother's offer. What should I do? I close on my new home in 40 days and feel time is running out Edit: Thank you to everyone for your comments. I have an appointment with the broker tomorrow. [link] [comments]  |
| County agency to purchase my home Posted: 05 Feb 2020 01:00 AM PST I'm looking for some guidance. I live in Ohio and there's a local county agency looking to expand their location. They're already in contract with my neighbor and are looking to make an offer on my house. Their plans are to demolish my house and out building to expand their parking lot. I'm not opposed to selling just wondering how I can profit from this situation to get a better home for my family. Current zillow estimated value is $140,000. A newspaper article states the project was approved for $1.67 million to purchase 11 parcels of land for their expansion. [link] [comments]  |
| Selling for a loss, what happens? Posted: 04 Feb 2020 09:33 PM PST Based on recent market analysis of sales in my community, I can't imagine us making back what we originally bought for which is disappointing.. We bought 4.5 years ago and have paid off ~36% of the original principal balance. We need to move and don't want to take on double mortgage. Renting is out of the question because we don't anticipate anyone willing to pay enough to cover mortgage and hoa. So in this scenario, what exactly happens? Do we owe the lender the remaining amount to make up for selling under? And if so, is that something we can slowly pay off or is that required before the sale came by approved? [link] [comments]  |
| Does it make sense for me to refinance? Posted: 04 Feb 2020 04:59 PM PST I was contacted by the person we went through to get our mortgage last year. He said he would likely be able to reduce my interest rate from 4.5 to 3.8. This looks like it would lower my monthly payment by about 100 bucks and I wouldn't have to bring anything to the table at closing (costs are rolled into the new loan). This seems like a no brainer to me but I need to decide tonight because they can only do 60 day locks on refinances as of tomorrow. Does this seem like a no brainer or is there something I am not thinking of? He talked to my realtor and he said the home will likely apraise 5-10k more than the purchase price last year. Edit: One other thing I forgot to mention. I am getting central AC installed first week of March, would it be better to wait for this in hopes of a higher apprasial? [link] [comments]  |
| Home Equity Investment vs HELOC Posted: 05 Feb 2020 12:26 AM PST I just recieved a pre-approval from Point. Any homeowners have experience with a HEI? This product has only been around for a couple of years. So I don't think anyone has sold their homes yet to close out the HEI. It looks good on paper, but the fact they take 15-25% of the appreciation when you sell your home is a bit eye opening. [link] [comments]  |
| Part exchange and indemnity insurance advice (UK) Posted: 05 Feb 2020 12:04 AM PST When we bought our house a new conservatory had been built without proper building regulations, this meant the previous owner had to take out indemnity insurance on the property. We are part exchanging to a new build and I'm just wondering if something like this would be likely to affect the transaction? I don't think it will but my girlfriend worries and I'd like to put her mind at ease. Thanks! [link] [comments]  |
| Posted: 04 Feb 2020 05:51 PM PST Hello everyone. I encountered a unique challenge, and was hoping for some advice. Thanks you!! Background
Anyhow... here are some questions I was hoping you could kindly help me with. Much appreciated!!
Thanks you very much !! [link] [comments]  |
| Should we replace all appliances before listing? Posted: 04 Feb 2020 11:47 AM PST We'll be getting our realtor's opinion, too, but I'm pulling together some rough budgets and want to know if my initial thoughts are off. We're in Denver if it matters. We've lived in our home for about 3.5 years and are planning to sell in spring. Our house is pretty middle-to-low priced compared to the market as a whole. We're finishing a minor kitchen upgrade to prepare for selling (painting cabinets, replacing laminate countertops with butcher block, new backsplash, nothing fancy) and we're also installing a dishwasher, which we don't currently have. From my understanding, it's best to have matching appliances (and I agree - I can easily see how cosmetically it could just look bad to people that are judging on first impressions). But is it worthwhile to update them all? The rest of our (edit: white) appliances are perfectly serviceable, but kind of old and ugly. The fridge is small and probably doesn't have a ton of years left in it, but it works fine for now. The stove is fine, although the oven needs a serious scrubbing. Should we: A. Get a stainless steel dishwasher and upgrade all the rest of our appliances to stainless steel, too. This will be pricey but I know stainless steel is trendier / looks better... but will we get enough of a return on our investment to be worth it? B. Get a white dishwasher; the buyers can upgrade the appliances after purchase if they want. This will be so much cheaper, but I don't want it to be a ding on our listing. [link] [comments]  |
| {SC} Questions about buying a home? Posted: 04 Feb 2020 07:16 PM PST Is a realtor required to let us know a property is landlocked? Is it worth it to buy a landlocked property? Can we fire our realtor if the deal falls through due to not being able to obtain an easement? If we start over with a different type of loan like conventional will that require inspection? [link] [comments]  |
| Buying a house that was built halfway on the wrong lot. Posted: 04 Feb 2020 09:08 AM PST Hey, I am looking to purchase a property that was built on the adjoining lot. The property and the adjoining lot were once owned by a family. The family built the house partially on the adjoining lot and then they were foreclosed upon. The property is up for an excellent price right now ($22,000) because of this encroachment issue. The previous owners will not sell or grant any kind of easement, they are not interested in cooperating at all with us. My question is, what can we do about this? The permit that they pulled to build the house was supposed to have the house built in a different location obviously, they ignored what was approved on their permit. Would it be trespassing by entering the house? Here is a copy of the survey. [link] [comments]  |
| House appraisal for widow(er)'s cost basis Posted: 04 Feb 2020 05:41 PM PST My google-fu is failing me. Does anyone have a pointer to the information on the home value cost basis adjustment for widow(er)s? My real question is on the *age* of the appraisal, and how close to the date of death it needs to be. I have an appraisal from 7 months before, and am refinancing now (nearly 7 months after death); would these be accepted or do I need to get a retrospective one done? [link] [comments]  |
| New buyer must occupy the house? Cypress, TX Posted: 04 Feb 2020 01:50 PM PST We have an investor buyer client that is interested in a particular listing that is an investment rental property. Sellers will not even let us look at the house because it is tenant occupied unless we have made an offer that has been accepted. I called the listing agent and expressed my concerns and the listing agent said that they will not accept offers from investors because investors cannot sign a form for Homestead Exemption with Title Co. They are requiring buyer to occupy the home. I cannot see how this is possible considering the house is currently tenant occupied. MLS indicates it was last rented in May Not sure what to do here and my go to person at Title is out of town. [link] [comments]  |
| Posted: 04 Feb 2020 05:30 PM PST Buying a home in MA ($270k), what kind of closing cost cash should I expect to pay ballpark? I know it varys but ballpark... [link] [comments]  |
| Posted: 04 Feb 2020 01:29 PM PST Or is it better to hire out this work separately? Looking to finish the dry wall, better lighting, flooring, more electrical outlets, etc [link] [comments]  |
| How to find a good real estate agent in another city? Posted: 04 Feb 2020 12:25 PM PST My dad just died, and I need to sell his house in Port Orchard WA. The house is fairly new and in good shape, but I need cosmetic stuff done like gutters cleaned, yard weeded, carpets cleaned and stretched, etc. I live a couple hours away, so I would like an agent to handle as much of this as possible for me. How do I find an agent who will not only sell the house, but who knows cleaners and handymen who will do a good job at a fair price, when I don't live in the area? [link] [comments]  |
| HELP: How do I purchase real estate in Europe? Posted: 04 Feb 2020 09:42 AM PST Hey guys, I desperately need help. I'm in investment banking however that is not real estate & I have some questions. I live in Canada & I would like to purchase real estate in Europe maybe as an investment or maybe as a vacation home - ideally Eastern Europe because it's cheaper. I have a Canadian passport so how easy or difficult is this process? I don't have any family in Europe or anyone I can trust but I do have the money & I know lots of guys who can easily get me a mortgage. Are there down payment rules in Europe (ex. 20% down)? Are mortgage rates low or high? Are there things like PMI? How do I do this? [link] [comments]  |
| Paint for deck in cold weather Posted: 04 Feb 2020 11:37 AM PST Hi everyone. Getting house ready to put on the market and realtor said to make sure the chipped and peeling paint is gone on back deck because if buyer has FHA loan that could be an issue. I hired someone to take the paint off after he told me he could not paint it in these temps (30-40, sometimes 20 overnight) but all he did was power wash it and while there's no more peeling paint it looks awful. Ugh. Is there any type of cold weather paint I could use to get it ready to sell? There's a lot of options online but not sure if any will actually hold up. [link] [comments]  |
| Posted: 04 Feb 2020 03:06 PM PST After applying for jobs for close to 5 months, I have finally landed one as an analyst working at a Real Estate Property Tax Consulting company in southern California. They work exclusively with commercial properties, small team of 10, and I will be developing models/helping with the entire property tax appeal hearing process. It is my first job in the real estate industry, and was hoping to see if anyone has any advice about books/news sources that would help me understand the process, or any general do's/don'ts for my first week working there. I've looked online but most of the advice I've found is centered around individual/residential properties. I start next week so I'm trying to be as prepared as possible. [link] [comments]  |
| Posted: 04 Feb 2020 01:55 PM PST I am considering entering a rent to buy agreement on a property. Ideally I would like to enter the agreement with a duplex, and pay down as much as I can handle in the two year period of renting via the downpayment. Then at purchase time I hope to move out and rent both sides for income. Assuming the numbers work does this make sense? I see this as a way to obligate myself to save. I have an income of roughly 100k and no credit but I would like to get into the investment market as soon as possible (just starting a job after graduating college). Any thoughts? [link] [comments]  |
| First time TN home buyers— non-ideal situation and could use some guidance! Posted: 04 Feb 2020 01:16 PM PST My fiancé and I have been together 6 years and will be having our wedding this fall. We've planned on buying a house in the next couple of years but, things have suddenly taken an unexpected turn and we could really use some help as we're totally clueless and google has been overwhelmingly contradictory at times. sorry for any weird formatting— posted from mobile A little back story: His dad passed away a few years ago and he received an inheritance which thankfully may be our saving grace. I did have a pretty good job (pay and benefits) and great credit until this past year and a half when I decided to go to school and make a major career change. I wound up quitting my job (to save my mental health) and just started serving in a restaurant while I finished my schooling. I graduated and got a job in my new field recently (I'm still serving some to help with the transition.) my credit has taken a major hit while I was in school because it seems things just always like to hit the fan when you're in these transitional times. I was planning to rebuild my credit as soon as I was making a little more money in this new job. Here's our dilemma... We're renting and our landlord just told us they're planning on moving back in in the next 4-6 months. This lease renewal they'll allow us to do month to month and will give us 60 day notice when they plan on coming back. We work and live near Nashville so, rental prices are through the roof. We also have a few animals so, it's not only tough to find a place we can afford but, having to pay pet deposits can be way more costly. His net income is right around 40,000 (he has great credit and zero debt) and mine last year was only about 25,000. We've found some charming starter homes near by for between 170,000-200,000. We realize it's definitely not an ideal situation and we had plans on getting to a much better place before looking at buying but, we're thinking this may be our best option right now as moving is a huge financial drain whether renting or buying. Our questions: -should we get legally married before buying a home? Would it combine our incomes yet, allow us to only put it under his name so my credit doesn't hurt us? -He's planning on putting down 40,000 but can put down a little more if he needs to— will that help us get a loan? -if we only put it under his name, is there a way to add my name to the deed—whether it's now or later on? -who can we talk to that may help guide us? A real estate agent? We appreciate any help that may be offered! [link] [comments]  |
| First house, downpayment question Posted: 04 Feb 2020 12:31 PM PST If on the Purchase Agreement I specify my downpayment will be 10%, can I later increase that to 15% or 20% before closing? Or does the Purchase Agreement have to be edited with that change? Typically when's the absolute latest I can modify my downpayment up? [link] [comments]  |
| Posted: 04 Feb 2020 11:54 AM PST Does it even make any sense to pay for IDX in your website or one of those companies that set up a full website to generate leads etc I mean im going to assume that 95% of the searches nowadays are done on zillow, redfin, trulia etc I think a website right now is just like a Business card with fancy design just to show you are present online. Any thoughts? Or maybe a wesbite/blog type to show you are an expert in your area by providing local information. [link] [comments]  |
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