3 days before closing newly built house flooded. I could use all the advice. Real Estate |
- 3 days before closing newly built house flooded. I could use all the advice.
- Is it a bad sign that noise from neighbor's kids were mentioned in disclosure?
- Is it legal?
- California Tenant Issues - Need Help with a Defiant and Abusive Tenant
- Im in escrow as seller, buyer has home-sell contingency however the close date on their property is on the day of closing of our escrow. Can we cancel if they dont meet our deadline?
- House with '2 car garage' appears to only fit 1 car?
- Buying condo with tenant advice
- Another week without new listings...
- RE Agent being dishonest? MLS inactive?
- Seller Financing - Who holds the Title and/or Deed?
- Credit for something in seller's disclosure?
- Taking from 403B to pay off mortgage on first rental property that I used to live in.
- [CA] Would like to start storage facility around LA.
- Question about warranty
- Is moving for shortened commute and more space worth it?
- How can Swedish interest rates be so low? Opinion- Subsidized to a degree by the govt.
- Rental Property - Advice
- Buying small house with intention to add on
- Fixer upper discount?
- Changing Closing Date
- The CARES forebearance application for my FHA-backed primary residence was denied. How is this legal?
- How soon to start the home buying process
- Planning on Selling House in Englewood Cliffs
- Need advice on unpermitted square footage in contingency period (CA)
- Asked sellers for credit, they agreed, found out my loan won't accept credits
| 3 days before closing newly built house flooded. I could use all the advice. Posted: 13 Jun 2020 04:06 AM PDT As the title says. Friday, 3 days before closing, the day of our final walk through a cleaner turned on the bath tub with the drain closed and then left the property. The builder and I discovered the flood 4 hours later. The entire master bath/closet most of the master bedroom and some of the living room had standing water of 1/4 inch at most. The water also went through/under the wall into the guest bedroom and guest bathroom a fair amount. We have tile throughout. The builder removed all of the water and the floors were dry at the 5 hour mark. They brought in fans and dehumidifiers in all affected rooms at about the 9 hour mark that are still running. [link] [comments]  |
| Is it a bad sign that noise from neighbor's kids were mentioned in disclosure? Posted: 12 Jun 2020 10:21 AM PDT TLDR: Below-market list price and noise disclosures have me second-guessing our dream house My partner and I are looking to buy our first place in the Bay Area. We found a house that is literally the most well-designed house we have ever seen. It was designed and built permitted by an architect couple who lived in the house. This is to say, it isn't your run-of-the-mill flip. Typical with Bay Area, the list price of the house is substantially less than the market rate and also less than tax assessment (which, actually reflects the current state of the house- a rare sight indeed!). I have a gut feeling about the neighbors and I want to get a second opinion. I noticed something was wrong in looking at the sale history. Since 2014, no owner has lasted more than 3 years. The last time it sold, about 3 years ago, it was for more than the current list price. I keep thinking, who sells in under 5 years in a beautiful house unless something isn't right? In the disclosures, it also mentions that the neighbors have kids in the yard under the noise/nuisance section. We ate lunch outside in our car after our tour and could actually hear kids and a booming male voice. We didn't hear anything during the tour. Am I being paranoid? Is it common to mention kid noises? What is your take? UPDATE: It appears the neighbors are a prolific home daycare provider with several locations. To find this I searched every name associated with the property and the city name. Thanks for your help guys! [link] [comments]  |
| Posted: 13 Jun 2020 04:24 AM PDT Morning all, I'll try to make it simple. Close friend is selling me his home which is dated and needs roughly 20-30k in remodeling. The home is worth 270-290 conservatively His sale price is 215. I asked for and was approved for a FHA 250k at 3.5% down. At the end of the sale the seller is going to then gift me the difference for my remodel. Is this all good ? [link] [comments]  |
| California Tenant Issues - Need Help with a Defiant and Abusive Tenant Posted: 12 Jun 2020 07:12 PM PDT I own a fourplex in Richmond, CA and its my only property. I lived there for a while in one of the units but eventually rented the whole thing out. I have to admit, the tenant that moved into my unit has driven me crazy and has gotten the best of me - I'm at the end of my rope. I can't even begin to explain how horribly she has treated me and berated me in emails, acting as if she's entitled to free rent for the rest of her life. Prior to COVID-19, she was up to date, though I basically had to negotiate with her to pay rent each month. She is three months behind now due to COVID and I can't blame anybody for that - its been hard on all of us. What I'm really writing about is this: just the other day, my property manager noticed that her window was broken. I went back on the security camera footage and found evidence that it was a woman that my tenant was fighting with that threw a shoe through her window back on May 21st ( which was 19 days before we noticed). Prior to me telling her about the footage, she implied that she didn't know what happened and that she didn't even notice the broken window until we brought it up. Then I showed her the footage which clearly indicates that the tenant was home at the time of the break, she was in a dispute with the woman who broke the window, and that she (the tenant) took pictures of the broken window immediately after it was broken and cleaned up the mess). She responds to this email berating me saying that she's not responsible and WASN"T EVEN HOME and then demands me to also add a motorized gate to the property - something she has demanded since she moved in almost two years ago. My property managers want me to file a police report but I'm having trouble getting the RPD to cooperate, they say its a civil matter. Should I fix the window and then take her to civil court with the solid evidence to demand the money that I spent on fixing the window? I know eviction of this tenant will be a long time away from now, and I'll be footing her bill for a long long time. I really appreciate any advice. [link] [comments]  |
| Posted: 13 Jun 2020 06:28 AM PDT I am currently in escrow as a seller. Buyer submitted an offer with home-sell contingency which we accepted. We got word that the buyer will be closing escrow on their property on the day of close of our escrow. As a result, buyer has removed all their contingencies however our moving situation as become difficult. If the buyer doesn't close our escrow by the close date, can we cancel the deal? Are there any repercussion we need to be aware of afterwards? edit: due to our situation, extending escrow is not a possibility [link] [comments]  |
| House with '2 car garage' appears to only fit 1 car? Posted: 12 Jun 2020 05:21 AM PDT My husband and I are looking at this house: https://www.realtor.com/realestateandhomes-detail/154-Baird-Ave_Wadsworth_OH_44281_M49125-13518 The MLS listing claims the house has a '2 car garage with a single bay door'. If you look at the pictures though, there seems to be no way 2 cars could actually fit. Is this strictly an advertising thing? Is a '2 car garage' based on size and not actually how many cars fit? [link] [comments]  |
| Buying condo with tenant advice Posted: 13 Jun 2020 06:15 AM PDT So I found a nice condo that I want to buy but the seller already has a tenant that's on a lease till the end of July. How can I protect myself before buying if the person tries to stay if I don't wish to renew the lease. I have no reason to suggest that's the case but before buying and with all the COVID changes it could end up being difficult to get someone out. Just need some advice...Oh I'm in Connecticut [link] [comments]  |
| Another week without new listings... Posted: 12 Jun 2020 05:27 PM PDT Second week in a row without new listings in the three towns I'm looking to buy. Three different states and regions of the US. Searching since January and was hoping to buy when the spring listings came on, then after things opened ...and now? Any insight on why it's getting worse by the week? [link] [comments]  |
| RE Agent being dishonest? MLS inactive? Posted: 13 Jun 2020 05:54 AM PDT Our home listed yesterday afternoon, but when I checked the MLS and 3rd part sites (like zillow etc.) it showed as inactive. I called my agent super early who said she looked into it and she just had to "hit refresh". Problem is, I took screenshots and it definitely showed that it was listed yesterday and delisted today. I had friends across the country look and verify they saw the same thing and had never seen the listing prior to that. Now everything shows as active again and my agent won't directly answer my questions, implying it magically fixed itself. That all seems like my agent doesn't want to admit she screwed up because it would let me out of my contract. Mistakes happen and I have a deep capacity for forgiveness, but I can't abide a liar and feel I'm being lied to. Has anyone else seen this sort of thing happen - listings just self-delist from the MLS 10 hours after being listed and then magically relisting on its own? [link] [comments]  |
| Seller Financing - Who holds the Title and/or Deed? Posted: 13 Jun 2020 05:48 AM PDT I've been approached by my tenant to purchase the property they are currently leasing from me (AL). If I offer them seller financing (100%), will the deed and title move into their name and I become the bank by holding a mortgage on the property? Will they be responsible for taxes and insurance? Also, in the event they default and we foreclose, do I regain the property and title and deed move back into my name. I want to make sure I'm buttoned up legally and can repossess the house if things go south especially in the current state of the world. [link] [comments]  |
| Credit for something in seller's disclosure? Posted: 13 Jun 2020 05:17 AM PDT I am trying to find out if I can ask for a credit for an AC unit that "blows air but might need a freon charge." My husband and I are under contract for a house that was listed as having AC but after our offer was accepted and we got the contract we learned the AC unit doesn't actually cool. It's 25+ years old and rusting next to the house. We have our inspection on Monday and I'm sure it will be flagged. Can we ask for a credit to get a new unit or no, because it is listed in the disclosure? I'm trying to figure out if disclosing it gives them immunity or not, but I can't find anything clear in google. [link] [comments]  |
| Taking from 403B to pay off mortgage on first rental property that I used to live in. Posted: 12 Jun 2020 09:21 PM PDT Hello everyone, long time lurker here and pretty new in the real estate realm. Debt: 300K mortgage on my current home (30-year mortgage). $2700/mo Investments and Assets 403B is $250k. Need Some Guidance From RE investment Minded Folks Here: So, my current rental property has a balance of $50k remaining. The mortgage is $1900/month, I get $1800 back after the property manager takes $100. The house market value is $202k and projected to be fully paid off by 2023. My current house that I live in has $300k remaining to pay off. Recently, due to COVID19, my job is allowing employees to borrow up to $100,000 from their 403B with no early withdrawal 10% penalty. (However, I would still get taxed from the money I make from the 403B). My question is what would be the best plan of action given the option of borrowing $50k from my 403B.
Thank you all for being my source of inspiration. [link] [comments]  |
| [CA] Would like to start storage facility around LA. Posted: 13 Jun 2020 04:18 AM PDT I only have 50k cash, and at best can probably get 20% down on a loan, which leaves me with 250k to purchase property + develop storage. Obviously, I'm not going to find anything worthwhile that I can afford in the city. Do you guys think it's worthwhile to start a facility on undeveloped, commercially zoned land outside LA? Obviously the closer the better, but would 15 miles outside the city border be a no-no? [link] [comments]  |
| Posted: 13 Jun 2020 04:12 AM PDT I recently purchased a newly constructed home and have a 1 year warranty on the house. I had a fence installed and discovered that some of the irrigation heads were installed outside of my property line. I used the warranty to have this issue fixed, but I think I could have a future problem. When the irrigation people came out to fix, all they did was move the flexible part of the heads under the fence into my yard. So in reality, the piping and wiring are still in my neighbors yard and the head now comes up in mine. Should I bring this up with the builder to get the whole thing moved onto my property? My worry is if maintenance or my neighbor ever installs a pool it could become a nightmare. [link] [comments]  |
| Is moving for shortened commute and more space worth it? Posted: 13 Jun 2020 03:58 AM PDT We're in the Boston area and own a condo just inside city limits (~530k). Commute to work/daycare can be 45m one way in rush hour just to go a few miles - this is killing my soul. We also need more space due to toddlers, but a move to the suburbs for school etc can be pushed ~4 years out from now and I'd like to avoid as long as possible due to hating the commute. We've owned our current place for only 4 years. Is it super dumb to buy another place (~850k) that's both intermediately bigger and closer to our work/city center just for the next 4 years? We're struggling with the decision of selling our current place and/or selling the next place after only 4 years each. Also, it feels silly to rent something ourselves after owning for a while, but maybe this is an option? Thanks for any perspectives. [link] [comments]  |
| How can Swedish interest rates be so low? Opinion- Subsidized to a degree by the govt. Posted: 13 Jun 2020 02:18 AM PDT |
| Posted: 12 Jun 2020 09:41 PM PDT Hi all, I am currently obsessed with the idea of investing in real estate at the moment. I am constantly looking at Zillow to see what the possibilities are. My goal is to buy my first home this year either straight away as a rental property with 20% down in a college town or go the FHA route and live in a house for a year with a friend who will help with some rent money, this would be all in the state of Texas. Just curious how others started and best strategies. I'm also in the process of getting my real estate license during the pandemic to have access to the MLS and save a little on closing costs, while also learning as much as possible about the industry. I know it's a lot but I just want to talk to individuals who have experience and see what's up! Thank you [link] [comments]  |
| Buying small house with intention to add on Posted: 12 Jun 2020 05:01 PM PDT We are first time homebuyers looking at buying a house that is in a neighborhood we'd love to be in. The 1940's house is small at 1100 sq. ft. However, it would work for us as is for probably about 10 years. I do not see it working well past that, but our hope is to buy a place and stay forever if possible. There is a one care garage with a vaulted roof (storage area up top) attached to the side of the house. My dream would be to save up and plan to remodel this space into a modest master suite in 10 years. The housing market where we are moves super fast and is extremely competitive. Any thoughts on if it is a stupid decision to buy a house you know you'll grow out of unless you add on? I'm torn- part of me wonders if we should just rent another year and look at the market next spring... EDIT: Forgot to add that we do feel it is overpriced for what it is, but that being said...we've been warned that the house will still go for a lot over the asking price based on the current market. [link] [comments]  |
| Posted: 13 Jun 2020 12:06 AM PDT I'm looking at putting in an offer for a fixer upper in an extremely desired location. The neighborhood houses avg $2m. The fixer upper hasn't been updated in 60 years and will require a full renovation (kitchen, bathrooms, bedrooms, flooring, roofing, electrical) What kind of discount would you apply, roughly, in this situation? Labor cost is very high here, and I'm guessing the remodel cost will be 300+. [link] [comments]  |
| Posted: 12 Jun 2020 01:10 PM PDT Hi All - My gf and I are buying new construction from Lennar with a new home orientation date in August, a week later the New Home Delivery, and then closing two days after. Our agent who without our consent, changed the closing date to the day of the New Home Delivery date and we are unhappy and wanting to either change it back to its original date, or a week later for peace of mind to address any blue tape errors that are unresolved. We have called and Lennar's agent refuses to change the date and will not provide me a number or person to escalate to. On our side, what can we do about this? And is 1 week enough to address all blue tape issues before closing? I've seen other houses during that time and the houses looked to be completely covered in blue tape. I also don't want to find ourselves with open items upon closing and was reassured that on closing, there will be no open items. When I asked for it in writing, he became defensive. So, in summary, 1) what can we do about the closing date 2)is there anyone we can call as any number I can find is just an answering machine, and 3) do we have to close when they decide? Thanks!! [link] [comments]  |
| Posted: 12 Jun 2020 11:35 PM PDT The CARES act requires all FHA providers to offer 180 days of forbearance to all FHA-backed loans. Why would my loan provider deny my CARES act forbearance if I indicated I'd have trouble making future payments? My credit score shows a serious delinquency I didn't know about--but that shouldn't matter! [link] [comments]  |
| How soon to start the home buying process Posted: 12 Jun 2020 08:54 AM PDT I am currently renting and my lease will be up late January of next year. In an ideal world, I would have the keys to my new house and be ready to move in mid January to allow for a smooth transition from our apartment to our new home. The market seems hot right now, inventory is low and good homes are selling quickly after getting listed. Based on this timeline, when should I start with finding a real estate agent, getting pre approval for a mortgage, etc.. Would love to hear your thoughts :) Thanks! [link] [comments]  |
| Planning on Selling House in Englewood Cliffs Posted: 12 Jun 2020 11:04 PM PDT Hello, Planning on selling house in Englewood Cliffs. I believe the realtor that we hired undervalued our home. If we receive offers at the listing price is it possible to ask for more money? [link] [comments]  |
| Need advice on unpermitted square footage in contingency period (CA) Posted: 12 Jun 2020 10:51 PM PDT We're currently in the contingency period of our townhome purchase in Southern California (LA region). We just learned through the seller disclosures that there are unpermitted renovations to the kitchen and bathroom. More concerning is that there is 300 square feet of unpermitted square footage. The seller counted this in the square footage, listing it as 2000 square feet when it would be 1700 if they only counted permitted footage. It turns out that a prior owner (without permits) closed the atrium in the middle of the home and turned the bottom room into a dining room and the top room into a bonus room with a skylight. We're not sure how to handle this as from what we've read, unpermitted square footage comes with some risks. Right now we're planning to talk to the city and see how much it costs to legalize the additions, and how long it takes. Depending on what they say, we may ask the seller to legalize it, to credit us for the costs, or we may negotiate the price down based on the costs and risks for us. Does anyone have any advice on this? [link] [comments]  |
| Asked sellers for credit, they agreed, found out my loan won't accept credits Posted: 12 Jun 2020 10:17 PM PDT Basically my loan program will not allow seller credit, but will accept to changing the purchase price in line with the credit. It's a few thousand dollars. My agent has been asked twice to contact sellers agent of the issue. Still waiting for a response. Already have signed addendum for credit by both of us. Now what? Am I being unreasonable to expect my agent to be on top of this? [link] [comments]  |
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