UPDATE: Seller not holding to agreement after closing Real Estate |
- UPDATE: Seller not holding to agreement after closing
- Our New Home is a Lemon
- Thoughts on MeetKevin Courses
- Realtor asking for home inspection report after I chose not to buy the house
- Will Prices for Real Estate Always Go Up?!
- Does adding a Murphy bed in a 2br increase home value? Will it help get a larger monthly rent?
- Inventory currently low and wonder when it will come back.
- Where Do I Learn More About Real Eatate?
- Home inspection step - Help with Comprehensive list of inspections necessary
- Realtor got us the pre-inspection report
- Is right now a terrible time to buy a single-family house?
- 2005 refinance
- Good Deal, Bad Schools
- How does zoning work if property sits on the city line.
- Verbal offer from the seller
- When giving an offer for a house, is it rude/impolite to low ball?
- Mortgage rate lock advice for a home being built
- How to find out death history in a condo unit?
- VA Refi Offer. Dropping from 4.0 to 2.75. Please check this offer?
- Building a New Home, and basement flooded
- Could I put an offer on a house for say... 600k financed, 500k cash, and let the owner decide how to proceed? If so, what is the typical cash discount?
- Is it expected to haggle or just offer the asking price? First time buyer here
- Comps in condo
- Jumping the gun on first house you like or waiting it out?
| UPDATE: Seller not holding to agreement after closing Posted: 23 May 2020 03:04 PM PDT Original post here: Well she has chilled the F out and done a complete 180. She moved her things to the front garage, called us up to let us know then let us in the house yesterday to measure for a fridge and check out the dryer connection. She then showed me around the gardens and told me what the trees were and showed us all of the fruit trees that we have on the property. Then she told us the days and dates she has her pods coming and the movers helping her pack. She offered to give us the keys while we were there as well. Between yesterday afternoon and today we have about 70% of our things at the new house. [link] [comments]  |
| Posted: 23 May 2020 07:47 PM PDT My wife and I were pregnant with twins and decided to pull the trigger buying our first house in the suburbs, because the 4th floor walk-up city apartment would have been hell with carseats. We planned and saved up and hunted for months, made 2 offers that fell through (one after an inspection and one because of flood zoning issues and a shift realtor) and felt like we really knew what we were looking for when we walked throughout 32nd home, and offer #3 was accepted. The home was everything we had wanted, a little above price, but it had a fully finished basement with new appliances and it felt worth it. The day we moved in, I noticed water on the floor. Our "finished" basement has a pretty significant leak I am assuming us foundational. I chalked it up to being a home owner. On the 15th day of living here however, and a week after our twins came 6 weeks early, a massive rainstorm causes a sewage back-up in our basement, flooding it 3-4 inches and destroying the new water heater. I worked for nearly 20 hours bleaching and mopping to get it together again. Not a week later we had a brief but heavy rain, and it flooded immediately, just as bad amid not worse. Rain is also on the forecast for the rest of this week. My wife wants to leave. She contacted out realtor and our lawyer, but I am sure there is nothing to be done. Our savings has already been put into this place, so we have neither the money to fix it or to leave. I assume what I am looking at is either a $70k investment loss or $15k or more in plumbing and home repairs. But is there any advice anyone can give? This is more than buyers remorse, I wish we could love this home and enjoy our new children, but now a dark cloud makes me nauseated. [link] [comments]  |
| Posted: 23 May 2020 10:31 PM PDT https://meetkevin.teachable.com/ Here's a link to them. Thinking about getting his Investing and Agent courses. [link] [comments]  |
| Realtor asking for home inspection report after I chose not to buy the house Posted: 23 May 2020 05:44 PM PDT I just got a text from my realtor asking for the home inspection report on a home I didn't end up purchasing. He said he had another agent ask him. Is this normal? I paid for the report so just thought it was odd that he would ask me to give it to another agent. [link] [comments]  |
| Will Prices for Real Estate Always Go Up?! Posted: 24 May 2020 12:13 AM PDT Most articles I've been reading have been saying that the pandemic has and will have little impact on housing prices. Example articles: WSJ Coronavirus Has Hit Some European Real-Estate Markets Harder Than Others So here's my question- as someone who has little experience with real estate, economies, and market projections - how is it that the supply of homes increases, the demand decreases, and homes still stay about the same price? There are fewer transactions, but little drop in pricing? Is it because real estate agents artificially inflate prices? I mean what incentive is there for real estate agents to negotiate prices down? Just trying to understand, get options, and maybe someday, buy a home ;) [link] [comments]  |
| Does adding a Murphy bed in a 2br increase home value? Will it help get a larger monthly rent? Posted: 23 May 2020 10:20 PM PDT Any concerns about maintenance of the bed for daily use composted to occasional use. Plus might be just another item to fix if brakes (ie garbage disposal) [link] [comments]  |
| Inventory currently low and wonder when it will come back. Posted: 23 May 2020 10:50 AM PDT Im in Virginia and Covid has created quit the sellers market. Very little inventory compared to what Ive seen and plenty of motivated buyers. Realtors of reddit curious where you are and when you forsee inventory increasing. Sorry if this has been asked before, but I havent seen any recent posts. [link] [comments]  |
| Where Do I Learn More About Real Eatate? Posted: 23 May 2020 07:47 PM PDT Hi guys, I'm a real estate major who will start taking classes about real estate next semester and I want to get a head start on the basics, are there any good books or YouTube videos or podcasts or anything else where I can learn? [link] [comments]  |
| Home inspection step - Help with Comprehensive list of inspections necessary Posted: 23 May 2020 11:29 PM PDT Hi Reddit, I have an accepted home offer!! Now of course comes the home inspection. I looked through the real estate subreddit to see if anybody had made a comprehensive list of stuff that needs separate inspections besides the general home inspection and didn't see one (sorry if I missed it - if so please link me!) House was built in 1996 Roof is 4 years old HVAC ~3.5 years old Located in Georgia so termites is the primary pest concern Has a basement; 5 bedroom/3.5 bath Appreciate your thoughts and feedback on what is important and what is not important to do. Here's what I've come up with so far that I should do:
Things to get a specialist if there are red flags during general inspection (from what I gathered reading online...could be wrong about these):
Things that may need to be done if it applies to your home (does not in my case)
One question: Our particular home inspector I found also says he looks for evidence of termite damage. He recommended that we skip specific pest inspection as its a waste of money and ensure that we are bonded for termites instead to save us headache - is this good advice? Thanks again! [link] [comments]  |
| Realtor got us the pre-inspection report Posted: 24 May 2020 03:02 AM PDT Hi all, first time home buyer here. My Realtor gave me a pre-inspection on a house I'm looking at today. So right now where I live, it's a sellers market. Being right over the state border in a stare with lower taxes, people from the state with notoriously high taxes are coming in which makes it harder. I'm going to see a really cute home today. There are several viewings on it and it's been on the market for 2 days. My realtor was able to get the pre-inspection report and the sellers realtor said EVERYTHING has been fixed in the preinspection report, other than replacing a 20 year old AC unit which is "running great" per seller and attic insulation. I know where I'm at comfortably as a top dollar (we are asking for closing costs so our offer will be over asking anyways by a couple thousand to offset) The buyer will need to find a home before we can close - which is fine and I'm in no big rush to close. With an AC unit that old, I am unsure on what to do since the rest of the home is pretty great as a starter home in a nice town 10-15 minutes from me and my husbands jobs. Any advice would be great. [link] [comments]  |
| Is right now a terrible time to buy a single-family house? Posted: 23 May 2020 04:24 PM PDT The interest rates are at historic lows but home prices are so high. Does anyone think that the real estate market is going to crash because of COVID? I am wanting to buy a house but I am scared things are going to crash and that I am going to be upside down on my mortgage. Does anyone have any tips? I live in Southern Oregon if that matters. Any advice would be appreciated because I have no idea what I'm doing haha. [link] [comments]  |
| Posted: 23 May 2020 06:03 PM PDT So I'm trying to sell my mothers house because she is now on Medicaid at a long term care facility. My dad passed away back in '01, I have a power of attorney so I can do all the legal paperwork. My issue is that the title company said today that there is an outstanding line of credit from 2005. I know it was paid off in 05 with the refinance but I can't find any documents to prove this. The crappy part is that it was a line of credit with BoA and the loan was with BoA and they are telling me it will take 30 day's to resolve the issue. Is there anything I can do to speed this process up?? I'm supposed to close on the 29th??? Please help I am desperate. [link] [comments]  |
| Posted: 23 May 2020 05:45 PM PDT Wife and I came across a 3BD/1.5BA house today in our city. It was originally posted in 2019 for 300K, dropped to 275, now 260K. Owned by a developer, fully renovated with no prior tenants. We're looking in the 250-300 range. Agent suggested we move quickly and offer 250K. Have cold feet because the schools we're zoned for are not good (1/10 on Zillow). Not uncommon for the city we're in, but would maybe be more comfortable with a 3 or 4/10. We are wondering about resale. Would schools impact value that significantly? It's an up and coming neighborhood, but not unsafe or unsightly. Just more blue collar. [link] [comments]  |
| How does zoning work if property sits on the city line. Posted: 23 May 2020 06:51 PM PDT We are looking at a 20 acre property. Half is in city A and half in city B. Which ordinances do you follow? I would assume you follow the city's ordinance associated with official address? [link] [comments]  |
| Posted: 23 May 2020 10:15 PM PDT How would you approach the seller in this situation? I've been eyeing a home for almost a month now. It ticks the boxes in terms of location and size but it is just a tad out of my price range. My agent told me the sellers are willing to come down $5k if buyer pays their own closing costs. Ok, so cool! I now know they're willing to negotiate. Maybe I have an advantage in this situation! So basically the seller has given me a verbal offer of what they are willing to accept, right? It's like a backwards offer. I don't know how to approach this as I feel like it's awfully odd to say a price you're willing to come down to when I haven't even put in an offer yet. Like why don't they just drop their asking price to that amount then? Now I'm confused as to what I want to offer...IF I decide to offer anything. Still on the fence as it's such a big decision and a large chunk of my savings will be depleted. I just wish it wasn't slightly over my price range. If you were going to put in an offer would you feel ok about going a bit below the number they suggested? Or maybe asking for a concession of some kind? I don't mean this in a petty way but there are some things I would like to have done for the home and I'm worried I won't have enough funds saved up to tackle them. Things like new countertops and flooring. I would be fine with paying for those things myself but it would need to be a smaller, lower sales price home for me to be financially comfortable doing that. This home is bigger and outdated with some minor cosmetic things. And because it's bigger it costs more and there lies my problem. With the price they said they're willing to come down to - that's calculated to be about $90 per sqft and it's an older home. Would it be fair to offer a lower sales price or ask for concessions in this situation? [link] [comments]  |
| When giving an offer for a house, is it rude/impolite to low ball? Posted: 23 May 2020 06:22 PM PDT I'm currently trying to buy my first property. I found a home I really like, but I believe it's over priced. Needs a complete renovation(looks like it's from the 80s) and the sqft. Is a lot smaller than the neighboring houses but it's in the perfect location. Would putting an offer up for $125K below asking price be an insult? It's currently $400K, and has been on the market for 110 days now. [link] [comments]  |
| Mortgage rate lock advice for a home being built Posted: 24 May 2020 01:51 AM PDT I'm not sure if this is the correct sub or not but here we go. We have a contract on a new construction home that is scheduled to be finished for closing at the end of August. I know the interest rates are great right now (we have been quoted 3.0% by multiple lenders) but most of them only have 45-60 day standard rate locks. If I do a 90 day lock I can get 3.125-3.25 rate. I'm worried with the market volatility due to Covid that we could see some crazy rate changes within the next 2 months. What are some educated guesses on how mortgage rates will be affected or just your personal opinions on which route to take. I'm having a hard time with the potential gamble here. [link] [comments]  |
| How to find out death history in a condo unit? Posted: 24 May 2020 01:24 AM PDT Currently thinking of putting an offer on a unit I just toured today, but someone told me to look into this. I think it's a good idea, but where can I find this information about a condo unit? Google has lots of websites for houses, but not sure about condos. Please help! Thank you! [link] [comments]  |
| VA Refi Offer. Dropping from 4.0 to 2.75. Please check this offer? Posted: 23 May 2020 12:07 PM PDT Can I do better than this? Wife and I have perfect credit, 80K line of credit, and no debt other than a new home's mortgage (less than 2 years). We want to take advantage of the interest rate spiral but unsure about this offer. We are interested in any opinions from the gurus here. Please have fun tearing it apart if its not any good or not I won't hold it against any. I value opinions and advice. Loan Disclosure Screenshots [link] [comments]  |
| Building a New Home, and basement flooded Posted: 23 May 2020 08:50 AM PDT Hello everyone, My wife and I are building a new home and are under roof, shingled, windows and doors installed. We went yesterday to take interior pictures for future reference (if we decide to do any work, having pictures of all the plumbing/wiring, duct-work pre-drywall would be invaluable) and noticed there was about 2 inches of water in our basement, and judging by the mud marks on the rough in plumbing, there was at some point in the past week anywhere from 12-18" of water down there. We were told that at some point during the build we'd likely have water in the basement because thieves steal the power cords to the sump pumps blah blah blah,that was a little concerning to hear, but I'm even more concerned at this point because our furnace had been installed already, so that means our brand new furnace was under 12-18" of water for an unknown amount of time. I have a picture of the water in the basement that includes the furnace and the mud/water marks on the walls/pipes. My question to you all here is how should I expect that conversation with the builder to go on getting the furnace completely replaced. I've brought my agent into the loop and he said to definitely start with emailing everyone (while looping him in) to start the process. I'm assuming this is going to be a hassle to get this furnace replaced, just curious if anyone else has had to deal with an issue like this. Thanks in advance to anyone who can offer any insight. [link] [comments]  |
| Posted: 23 May 2020 11:50 PM PDT |
| Is it expected to haggle or just offer the asking price? First time buyer here Posted: 23 May 2020 09:35 PM PDT |
| Posted: 23 May 2020 08:55 PM PDT Hello. This is my first ever post so pardon me. I'm currently interested with a condo unit, the whole condo complex has around 1k unit hence it's pretty easy to find comparison. But, since there were literally like 10+ units sold in the past 2-3 month with different price, i find it hard to pin point the right price for the condo i'm interested in. For example. The unit that i like is located on level 11, 1 BR, 850 sf. Asking price 290k with minor renovation like kitchen cabinet and bathroom. Not really major except removal of bathtub to shower. So there are at least 4-5 units sold in the past 2 months, exactly same unit, the different mainly in renovation and level (but none on the ground floor) So 2 unit sold for less 260k, 2 unit sold for 270-280k, 1 unit is still on process of sale with 260k asking price right now. The 270-280k unit has some sort of renovation. The 260k isn't renovated but in really good shape. A bigger 1BR unit (1000 sf) sold for 290-310k range. My agent is keep pushing me to offer the seller asking price of 290k, which i think at least 10k too expensive just based on the past 2 months data. I know he just want to quick sell and get his money. If i go way back to 6 month, the price was much lower in 240k-250k range. My question is based on this, how can i determine the fair offer for the unit? Is it based on average sf of the comps for the past 2 months? 6 months? My gut feeling the seller looking price is a bit expensive but i'm not sure. What do you guys think? Thanks! [link] [comments]  |
| Jumping the gun on first house you like or waiting it out? Posted: 23 May 2020 08:47 PM PDT Today my SO and I saw houses for the first time. We saw 3 in total but only liked 1. It's a 3 bed 1 bath. It's a duplex which we were initially against but ended up really liking. Has enclosed porch, back garden, semi finished basement, nice shed with heating/AC (easily a mini guest house), decent kitchen. Biggest hold up for us is honestly the living room walls are textured and it's plastered (?). Apparently it would be hard to fix/remove that as it could be hiding uneven walls (?). House has been on market for 3 days and honestly our realtor (SO's uncle) doesn't think it's going to last long. This is not the most hot market but he did say he was working with a few people in general. We are scheduled to see a couple more houses in 7 days. My SO and realtor both think we should at more houses before making an offer. And I definitely agree. However I really love this house, and my SO likes it (doesn't love it, but honestly he's pretty stubborn lol). I don't want to think we'd miss out on an opportunity, although of course I'd have to do a little more convincing with my SO. What would you guys do? Just looking for advice I guess. Either way this 7 day wait is going to make me so anxious haha. [link] [comments]  |
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