After going back and forth forever the seller finally accepted our negotiations after the inspection!!! We close in 10 days!! Real Estate |
- After going back and forth forever the seller finally accepted our negotiations after the inspection!!! We close in 10 days!!
- Building our first home, I'm stoked!
- Guys I just passed my real estate state exam over the weekend.
- Is there still a benefit to getting a mortgage if you can afford to buy the house with cash? I always heard there was but I don’t know if that’s the case anymore.
- Gift for Realtor?
- Closed on the sell of our house today
- When (if ever) is it cheaper to build than buy a house?
- Listing agent cautioning against lender
- Shingles lifting up, is this normal?
- First Time Home Buyer - %down, realtors, and COVID19
- Buying a flipped house. Sold for ~65k 8 months ago, listed for 210k now.
- New build 3 bed 2.5 bath townhome, $1600 PITI, rents for $2300/mo. Good investment as my first rental property?
- House on the market for 130 days, and been under contract 3 different times. Worth a low offer?
- Is it a good idea for me to get my real estate license right now ?
- Construction issues revealed after I bought a condo
- Advice for a young buck
- Appraiser checks permits?
- What would you research?
- How long does the process to get approved for leasing a commercial unit take? [California]
- (CALIFORNIA) I am single, unmarried, and buying my first home. Should I put a family member on the title or set up a will?
- Anyone have any experience with “Millennial Home Lending”?
- How do I convince a homeowner who has the property for sale to lease it to me instead?
- Widower with 19-year-old tax lein inherits property - what now?
- Unlisted home, same family for generations
| Posted: 08 Jun 2020 07:34 PM PDT |
| Building our first home, I'm stoked! Posted: 08 Jun 2020 02:57 PM PDT Wife and I signed the papers last Thursday, the money came out today for the deposit. It's a spec home, but it's a nicer/larger one and it has the garage and lot I wanted and the space she did. It also has an unfinished basement as a play space for the kiddos (19 months and -35 weeks!) I'm super excited, it backs up to a stand of trees, I can walk a mile to a movie theatre and a bunch of bars and shopping. It's big enough to last us a long time until we decide to move to the country or something changes immensely. I know we can afford the mortgage, it's just a big adjustment since it's 1100 more than we are paying now with 0% down, if we did 0% down (thank god for VA! [2.625%]) I'm not usually a poster here, but I'm stoked. [link] [comments]  |
| Guys I just passed my real estate state exam over the weekend. Posted: 08 Jun 2020 04:41 AM PDT Guys I just got my real estate license over the weekend. I haven't decided which company I want to work for yet, since I just passed the state exam this weekend. I am so excited to start the his career, I worked in a real estate office for a year a year ago. I have great experience in follow up, detail, writing up the agreement and contracts, I used to do it all. I finally got the ball rolling for myself, I live in Florida which is a great state to own property. There are no state taxes and it is a lien theory state! [link] [comments]  |
| Posted: 08 Jun 2020 11:01 PM PDT I have about $500K in savings and want to buy a house for $350K. I could just write a check but I have always been told "oh a mortgage is great because you can deduct the interest, rates are lower than inflation, blah blah blah". I always rolled my eyes thinking it was just bankers convincing us we need mortgages. But now that I'm about to do it I am wondering if there are deeper subtleties I haven't considered. The way I see it I'm losing on interest and closing costs and whatever fees no matter how low they are. But I am also open to realizing I don't have all the answers. Thoughts? [link] [comments]  |
| Posted: 09 Jun 2020 03:03 AM PDT We've been looking for a house since last fall with a realtor who has shown us about half a dozen properties in that time, none of which we ended up putting offers on (small town, not much comes up for sale, plus I guess you could say we are picky). We obviously weren't finding what we wanted through listings so we put a wanted ad in the local paper and ended up being contacted by a nice couple. We went to see their house over the weekend and fell in love, and will most likely be moving forward with the purchase and it will be a private sale as per seller's request. My question is, now that we are moving forward without her, should I gift the realtor for her time spent showing us houses? Would gift cards be appropriate? If so, how much $? [link] [comments]  |
| Closed on the sell of our house today Posted: 08 Jun 2020 06:36 PM PDT Finally closed on the sale of our house today. After being dropped by Opendoor in April, then we took a low ball offer because we thought the housing market was going to crash and we would lose all of our equity, then that contract fell through because they couldn't get financing, so here we are closing on the deal that came at asking price! So glad that's over [link] [comments]  |
| When (if ever) is it cheaper to build than buy a house? Posted: 08 Jun 2020 05:15 PM PDT So whenever I read someone say that building is cheaper than buying, I always read the comment "not really", "not necessarily" or "no, but at least you get exactly what you want". I already know some things that can make the final price tag fluctuate and go higher, such as the land price, the optional upgrades, lawn, driveway, etc. And I also know that building has a lot more upfront/out-of-pocket costs. But I was wondering if there are situations where it IS cheaper to build, especially when we want a smaller house (say, 2b/2b, 1200-ish sqft max), compared to what's often offered in my area (at least 3b/2b, 1700 sqft and up), which also tend to have lots of features we don't care about at all. Like would building a 2b/2b 1200sqft, really be as expensive as buying an older 3b/2b 1700 sqft? And even if they end up being around the same price, wouldn't the new home save you some money down the road in maintenance since everything is new? I know everything has too many variables to compare, but I was just looking for examples of maybe specific situations where building would be cheaper. [link] [comments]  |
| Listing agent cautioning against lender Posted: 08 Jun 2020 03:53 PM PDT My house has been on the market for several days and the best offer yet is 4% above our asking price. With everything factored in, it is still the best offer to us, however our agent and her brokerage have recently had bad experiences with the lender, Navy Federal Credit Union, and are cautioning against accepting the offer. Is this a legitimate concern? Is NFCU riskier than other lenders? Also, although the offer is more than generous, I'm worried our house may not appraise that high. Should I ignore that fear and deal with the appraisal later? What options do I have if the appraisal comes in lower? [link] [comments]  |
| Shingles lifting up, is this normal? Posted: 08 Jun 2020 05:07 PM PDT Hello, I live in Florida and recently replaced the roof shingles today. Some of the shingles are lifting in some areas (like this https://imgur.com/gallery/fD1LrqC). According to the contractor, this is normal and with some heat, the shingles will flatten over the week. Is this true? It looks off for some reason. Thank you. [link] [comments]  |
| First Time Home Buyer - %down, realtors, and COVID19 Posted: 08 Jun 2020 07:33 PM PDT Hi! I'm a first time home buyer. I have been saving up for a long time for this! I've been pre-approved and have a 15% down payment (I have 20% saved but I don't want to use all of my savings, I know I will have extra insurance but interest rates are so low). I'm thinking about jumping the gun and moving forward with the process before I have the 20% + extra saved... I'm looking for some advice. I feel like the time will never be better in my big City. The easy question that others have probably asked (but in a very different climate)...do you wait until you have the 20% to put down or do you jump on the low interest rate and slight decline in the market in a city where the seller's market is BOOOMING? My more difficult question...I found a house I am in love with. It checks all my boxes. The only thing is that it is for sale by owner. Kind of scary. Does this mean I would need to drop my realtor? I understand that the closing costs would now we 6% less...which is over 20k. How does that impact the process?! The seller should be more flexible, no? It seems like they put X amount into remodeling the home and are trying to get a turn around on the investment. My faux father is a broker and is really helpful throughout this entire process...but I had a negative first time experience in a realtor (he sent his assistant to view with me each time and never saw the place, kept pushing me to buy when I was unsure about it, told me the inspection was fine even though it came back with 30k of work needed, none of the appliances worked, etc etc I eventually dropped out during the option period or whatever, only lost 1k). My good friend just bought her first home without a realtor and is telling me it's a huge headache but totally doable. Just need a lawyer. So what does the internet think?! Should I go with my dream home, 15% down without a realtor...continue looking with my other friend's realtor that he says is great, or just rent until I die because my city is too expensive to buy? I appreciate you taking the time to read this and any suggestions. Happy to provide more detail but not sure how in-depth is the norm. [link] [comments]  |
| Buying a flipped house. Sold for ~65k 8 months ago, listed for 210k now. Posted: 08 Jun 2020 07:59 AM PDT I'm trying to get a good feel of what I should be looking for as I go through this process. The house was in terrible condition cosmetically when it was sold last year. Holes in walls, mounted sinks broken, all flooring either severely damaged or entirely removed, vines creeping up siding, etc. It was a foreclosure & it doesn't like like the person living there took kindly to being foreclosed on. But it's in absolutely beautiful condition now- it virtually looks like a new home. All the flooring, cabinets, siding, windows, appliances, etc. are brand-new & very high quality. GFCI outlets where they should be, new deck, tall baseboards & matching trim throughout the entire house. They definitely didn't go cheap on any of the immediately obvious materials. We'll be doing our inspection sometime this week. I'm just wondering what sort of things you'd want to pay closer attention to on a flipped house than you would for a typical sale. I've really liked what I've seen & I'm trying not to let something large slip by because I'm busy staring at the giant finished basement & shiny new everything. EDIT: Good news! Lots of internet sleuthing led me to some records for a flip they did in 2014. The guy they sold it to is a local attorney, so I gave his office a call to see if he'd just be willing to give me a quick answer what he thought about the house 6 years later. He said they actually did as good of a job as it looks- they've had absolutely no problems & are still living there & loving it. Apparently, they're a Polish couple & the guy is a very skilled woodworker. He did all of the woodwork himself- floors, stairs, trim, cabinets, etc. They're all beautiful. He said they haven't had any issues with things like plumbing, electrical, etc. We actually talked for about 7 minutes about it, the call was super informative & I feel much better about the purchase now :) [link] [comments]  |
| Posted: 08 Jun 2020 08:14 PM PDT |
| House on the market for 130 days, and been under contract 3 different times. Worth a low offer? Posted: 08 Jun 2020 07:36 PM PDT House is priced at 184, sold by opendoor. I offered 167 for it a while back and they kept offering list price. Then it goes under contract but keeps falling through. I kinda noticed some rotten wood in some areas and the front porch looked like it could be settling. Should I try to offer again? Or leave it alone for someone else to hassle with? [link] [comments]  |
| Is it a good idea for me to get my real estate license right now ? Posted: 08 Jun 2020 07:05 PM PDT Hi ! I'm 18yo and the real estate business has always excited me but with the virus stuff going on right now is it a good idea for me to get my license? Would I be able to get a good job quick ? Or am I better off going into another field . Thank you in advance for the advice I live in Las Vegas btw [link] [comments]  |
| Construction issues revealed after I bought a condo Posted: 08 Jun 2020 04:46 PM PDT Hey all. I purchased a condo in mid may in Texas. About 2 weeks after closing, I was notified of a special assessment to fix some structural issues with all of the buildings in the complex. Some bricks fell off one of the building walls (not my building) due to which the HOA launched an investigation into the quality of the construction of the rest of the buildings. It turns out that all the building externals are not up to code and have construction issues that need to be repaired. I wont get into the details of the construction issues as that is immaterial. The bricks fell in December 2019 and the HOA notified everyone that there would be a structural analysis done. A few reports were done by third party construction companies and these were shared by the HOA with all the owners in December and March. The seller did not disclose any of these construction issues in the sellers disclosure. I obviously had an inspection done on the condo but only the insides of the condo and the roof (the condo is on the second floor out of 2 floors) were inspected. Can I go after the seller to pay the special assessment? Do I have a good case? The special assessment to calculate the exact cost of the repair was done after closing so the seller would not have known the cost but I believe he should have disclosed the structural issues at the very least as that would have greatly impacted my buying decision. What do you guys think? Thanks in advance! Edit: I checked the sellers disclosure and they have signed and dated and checked "no" under no external wall and structural defects. However, I just noticed the disclosure is signed and dated at 1/30/2020 which is before the defects were found in all the buildings. However, before that date, the seller was aware of the damage to the one building which would have had caused a special assessment anyway. After 1/30 and before closing, he was aware of the structural issues to all buildings but did not disclose them to me. However, he did not sign anything regarding this. [link] [comments]  |
| Posted: 08 Jun 2020 10:39 PM PDT I have been told by my manager that I won't have a job until late October. So I have decided to get my Real estate broker license. Eventually I would like to become an assistant or intern. My question to the people in this lovely sub is what advice do you have that you can pass along. For example does where I go to school matter? Should I be doing something to make myself a viable candidate for internships? Any advice would be appreciated. Thank you! [link] [comments]  |
| Posted: 08 Jun 2020 04:17 PM PDT I recently got my basement done and added two conforming rooms to my house. However, permits were not taken due to city closure from COVID and partly to save time/costs. I want to do cashout refi to get money out of the house that I put in. Will the appraiser check permits? If he finds that no permits were pulled, will I not get any equity out of this renovation to count towards the refi? [link] [comments]  |
| Posted: 08 Jun 2020 09:53 PM PDT Novice, intermediate and experienced home buyers a like ... I am curious how and where you would research a new place you want to move to? My fiance and i are thinking of downsizing and moving to a condo or townhome. There really are only two or three locations we are looking at. When I try to Google complex names or addresses, big surprise, all I get are real estate listings with your typical stats and details. And I have already browsed the crime report websites. What are some over looked or out of the box ways to really do your homework on some place you're considering moving to? [link] [comments]  |
| How long does the process to get approved for leasing a commercial unit take? [California] Posted: 08 Jun 2020 09:33 PM PDT I'm really eager to get my business going.. took a look at the place today and asked him to send me the application. How long does everything take? Should I be proactive and reach out to the realtor the next day? [link] [comments]  |
| Posted: 08 Jun 2020 08:39 PM PDT Hello, new potential homeowner here. Just looking for a quick and dirty answer before consulting a lawyer. I have no children and I am unmarried. Is it better to hold title with a parent or prepare a will that will leave it a parent after I take ownership? Thank you! [link] [comments]  |
| Anyone have any experience with “Millennial Home Lending”? Posted: 08 Jun 2020 07:52 PM PDT Besides their terrible name, once every couple months they send me an "offer" (ad) in the mail with a pretty sweet rate. I figure there's a very low chance I actually get the rate, but I wanna make sure they're not a total scam first before I even try. So - anyone have any experience with these guys? [link] [comments]  |
| How do I convince a homeowner who has the property for sale to lease it to me instead? Posted: 08 Jun 2020 03:59 PM PDT I am considering accepting a job in a rural town in West Texas. I look forward to move to this town. I checked out the market in this town and there is only one property for rent. I then switched to sale, and got more results. All of these properties are for sale, but I cannot buy them because I am not yet in that point. I am more than willing to rent, but there is just one property for rent. This got me thinking if there is a way to reach a deal with these owners to lease their properties to me instead. I am willing to reach to a fair agreement, even if I have to take care of the maintenance or repair when something breaks. How do I convince a property owner to lease their properties? Is it even possible? Thank you. [link] [comments]  |
| Widower with 19-year-old tax lein inherits property - what now? Posted: 08 Jun 2020 03:56 PM PDT Hi there, I'm trying to help out a relative, so if anyone can point me in the right direction I'd appreciate it. Here's the situation: legally separated couple who started living together again. The house was in the wife's name. She dies, and the property goes through probate and is awarded to the husband. He turns around and wants to sell and move out. The title search turns up a 19-year-old federal tax lien on the husband, equal to the amount of the original mortgage. What now? Is the lein still valid? Will it prevent a sale? [link] [comments]  |
| Unlisted home, same family for generations Posted: 08 Jun 2020 03:42 PM PDT I saw a few other posts in this group about contacting homeowners who haven't listed their houses, so I thought this might be a good place to ask this. I live in a super rural area, where most homes are small, manufactured, and/or most from the 1960s-present. I currently own a small Cape Cod style house on 36 acres that was built in 1978. But I dream of owning a large, 100+ year old farmhouse. When my husband (then boyfriend) and I started looking for a home 6 years ago, I wrote a LOT of letters to landowners asking if they'd consider selling, thinking we'd build our dream home. Most never wrote back, a few said no. We looked for two years. Then we found our place, and while it wasn't my dream home, it was located right between our two families, was really well maintained, and offered enough space for us at the time. Two kids later, we're starting to feel cramped and construction prices are through the roof - $250/sq ft; we could never afford to build now and even if we could, I think it would be difficult to secure a construction loan because I doubt a 2,000 sq ft home in this area would appraise for $500,000. (To give an idea of the market here, we bought our 1,500 sq ft home on 36 acres for $160,000 in 2015.) Anyway - occasionally I'll look at listings in other states and drool over the fixer-upper farmhouses, but ultimately we decide it's more important to be by family. One time, when I was really sad about never being able to find something even close to what I want in this area, my husband said, "One day, the right place will come on the market, and it'll probably be a place we never even considered, like the Anderson farm." We were in the car and since I didn't know the place he was talking about, he drove past it. It's down a side road we almost never have a reason to be on, which is why I didn't recall it right away. It is, without a doubt, my dream home! Here's the question: it's owned by a 90-something year old lady who's parents AND grandparents had owned it. She grew up there, her mom grew up there. This family has owned it since 1912. My question is, would it be exceedingly rude to write this lady to say, "If you ever consider selling, we're interested"? Obviously, I'd say more than just that! But...I had no reservations about writing to land owners, vacant with less sentimental value, and I just feel like in this particular case, care and sensitivity are paramount. How would you write a letter like this, or would you just pass? I have no idea if any of her three children or six grandchildren are interested in living here, but I assume it's more likely than not that one of them inherits it and keeps it. But for my dream home, I think writing a letter is a small risk to take. The worst that can happen is they say no, right? [link] [comments]  |
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