Seller told me solar panels were fully paid off/owned, however I just found out they are leased. I close in 10 days...help:( Real Estate |
- Seller told me solar panels were fully paid off/owned, however I just found out they are leased. I close in 10 days...help:(
- Buyer backed out and we are entitled to their earnest money. Their realtor said she never collected it and it doesn't exist. Now what?
- Mortgage demand from homebuyers amazes again, now up 13% annually despite rising rates
- Only 1 in 10 borrowers in forbearance is equity poor
- Real estate agents, what are some every day problems you wish could be fixed?
- How do I reagain control of my Zillow listing from a pay to list MLA website?
- [OR] "AS-IS" offer on a house was informally accepted, do I need a lawyer or agent?
- Purchasing a New Construction home with a $2500 credit if I use their lender (instead of my mortgage broker). Worth it?
- [MA] What would we be getting into with a ~100+ year old home?
- Anyone else noticing EVEN FEWER houses coming on the market this month?
- Do sellers leave things behind without noting it in the contract? Do buyers appreciate it?
- Hard money loan, then refi
- Seller refusing extension
- Flooring costs for a spec home and valuation (DC Metro Area)
- How do I remove pictures from listing websites?
- Advice on buying/selling a unique Mid-Century Modern Home?
- Xpost - Trouble negotiating incentives for new build
- Offer accepted! First time homeowner, seller's market, VA loan! Just wanted to thank this sub, and give some advice for anyone in our situation.
- First Time Home Buyers in Bay Area - Should we wait and save more for a down payment or try to get into a decent/ok option
- Searching 4 months to no avail, wait longer or compromise?
- How will new congestion/carbon pricing policies affect the location of different types of real estate activity within metro areas?
- Does having 2 part time jobs count as a full time job when trying to buy a house?
- Need Advice
- Closing on a house in a few days. Seller not honoring their promise!
| Posted: 10 Jun 2020 03:53 PM PDT Both the seller and agent actually said the panels were paid off, but the solar company told me that it is a lease and the lease has only been opened for a little over 1.5 years (25 year life). I do not want to sign a contract bounding me to panels for 25 years. What are my options? Can I request that the panels be bought out by the seller prior to closing? FYI I have not signed any solar panel transfer agreement yet. [link] [comments]  |
| Posted: 10 Jun 2020 03:12 PM PDT [Michigan] We entered into a purchase agreement that had a $5000 earnest money deposit. The buyer backed out after the inspection period was finished because he got in a fight with his realtor and ended the relationship (the realtor did SO many things wrong but that's a story for another time). So it should be no surprise to me that when my realtor approached the buyer's realtor to collect the earnest money and get them to sign the mutual release, their realtor informed us that she never had the earnest money and she is completely no contact with her ex-clients so we could essentially suck it. We escalated the situation to the brokers, but of course their broker won't answer any calls. I think they are fully aware of what they are doing, and because we have so many other offers they know we want to move forward and hopefully just forget about the money they owe us. We have another buyer who wants to move forward quickly, so we might just have to sign off on the first buyers agreement and forget about the 5k altogether. Is there somewhere I can file a complaint? Is this grounds for losing her license? I don't necessarily want to waste time with an attorney if it will hold up the closing with the new buyer, but I want to put this chick on blast. [link] [comments]  |
| Mortgage demand from homebuyers amazes again, now up 13% annually despite rising rates Posted: 10 Jun 2020 06:07 AM PDT It seems that COVID hasn't slowed down the market at all, only pent up demand. How do you see this affecting the housing market moving forward? Were those expecting doom and gloom reversing course? [link] [comments]  |
| Only 1 in 10 borrowers in forbearance is equity poor Posted: 10 Jun 2020 11:21 AM PDT https://www.housingwire.com/articles/only-1-in-10-borrowers-in-forbearance-is-equity-poor 1% are underwater. 9% have less than 10% in equity. The above two groups are considered "equity poor" and at possible risk of foreclosure. But that leaves the remaining 90%. A whopping 80% of those in forebearance have 20% or more equity in their property. There's been a lot of questions about what happens after forbearance. Right now, it does not look like a disaster looming. [link] [comments]  |
| Real estate agents, what are some every day problems you wish could be fixed? Posted: 10 Jun 2020 10:06 PM PDT So I am in the process of selling my house and there is often miscommunication with my agent and the buyers agents. My agent tells me, for example, someone will come to see my place at 2pm. They never show up, causing inconvenience to me and confusion to my agent. I just can help but imagine if their was an app or something that could centralize listing times and reduce confusion and improve communication. Just curious as to if this is a problem to anyone else, if there are current solutions, and any other daily problems agents/buyers face. All input is appreciated!! [link] [comments]  |
| How do I reagain control of my Zillow listing from a pay to list MLA website? Posted: 10 Jun 2020 02:20 PM PDT Long story short - I created beatiful, well curated listings for zillow and redfin for my house (FSBO). As icing on the cake, I paid around $100 for a service to also list my home on the MLA. I gave them all the same information, photos, etc. They crammed it all together, took out a bunch of pictures, removed a bunch of information, added poor grammar, and essentially created a disaster. They are not responsive to any of my requests to fix things. But the worst part is that Zillow detected that my house was listed on the MLS and imported all the bad data from there. My beautiful listing that was getting 10+ calls a day immediately dropped to zero. Not a single call since the disaster. I wasn't too worried, because we already had three offers on the house, but after multiple extensions with the first offer the deal fell through and the second and third offers already purchased elsewhere. Now I'm on a time crunch and need to get this place sold. So my question is, how do I regain control of my Zillow and Redfin listings? Zillow says I can't have control because I am using a "Realtor" (i.e. the pay to list service on MLS) and the pay to list service won't do anything to help me out and aren't responsive. Any help would be appreciated. [link] [comments]  |
| [OR] "AS-IS" offer on a house was informally accepted, do I need a lawyer or agent? Posted: 10 Jun 2020 05:36 PM PDT Hi everyone, I know people typically suggest working with a lawyer or real estate agent, but I want to buy this specific property that's not on the market yet and we agreed on a price for the house as-is, so no expectations from the seller to fix anything up. I know typically I'd want a lawyer or an agent to draw up the agreement to make sure all the conditions are met, but there are no conditions to be met except for the house to be free of liens. I am financing this purchase and working with a lender and title company that I expect will do due diligence to make sure the house is "free and clear" and worth the amount they are willing to finance. To be clear, I know the house needs work and I am buying it below market to fix it up before I move in. The seller is out of state and would rather not be involved in getting it renovated for the market. Do I really need to get a lawyer/agent involved if I already have an accepted offer and a draft of the sales agreement? I'm hoping the answer is "no", because that will add 2% to my cost and I need that money for renovations. Thank you for your help! [link] [comments]  |
| Posted: 10 Jun 2020 07:07 PM PDT I'm a novice at all of this and I'm not sure if the rates they give me will most likely be the same or if they'll be higher. I got a local mortgage broker (at the advice of this sub) who has been super helpful, but I'm being offered a $2500 bonus if I go with their lender instead. Is it worth it? [link] [comments]  |
| [MA] What would we be getting into with a ~100+ year old home? Posted: 10 Jun 2020 04:13 PM PDT Husband and I live in Boston, currently renters and are hoping to buy for the first time within the next 9 months - but we're struggling with inventory. Much of the [at present meager] availability in Boston is older homes - triple deckers, most commonly, or single family homes - from the 1800s or early 1900s. There are very few newer homes (like, <30 years old) in this area. We'd prefer newer construction, but those are much more $ and there just aren't that many of them. It's more common to see multi-family homes, condos, homes, etc. that have really old bones, but that have been gutted and remodeled. If we were to move in that direction, what would we be getting into? We have some immediate concerns about foundations, plumbing, etc. - would it be a terrible idea to consider those older homes? Would we be in for a world of hurt as first-time buyers? Horror stories welcome. [link] [comments]  |
| Anyone else noticing EVEN FEWER houses coming on the market this month? Posted: 10 Jun 2020 07:41 AM PDT I'm in Maine and my husband and I have been having a lot of trouble getting a house (7 offers and counting!). Inventory has been incredible low here, as I'm sure it has been everywhere, but I've been hoping that as things start opening up again from the quarantine, the rate of houses coming on the market would pick up a bit. Nope. In the last couple of weeks, it actually seems to have slowed down. I can't wrap my head around this. Is anyone else seeing this in their area? [link] [comments]  |
| Do sellers leave things behind without noting it in the contract? Do buyers appreciate it? Posted: 10 Jun 2020 08:03 PM PDT Looking at photos of our first house we sold, and there's so much random stuff we left. A giant mirror that really only fit that house, bar stools I chose specifically for the bar we built in the kitchen, the patio furniture we built the patio for, that fit exactly right. We didn't need any of that stuff, and asked our agent to chat with the buyer to see if he wanted us to get it all out of there. Never heard back from the buyer, so he inherited it all. There were a few things that were left when we toured our current new house, like a picnic table and a bunch of building materials left over from previous projects. We weren't about to make contingencies, but we were hoping they'd leave it, but they cleaned everything out before we got the keys. In hindsight, we probably should've asked if they just wanted to leave it all or take it, whatever works. Were we the weird ones leaving random things behind? Not literal move-out process trash, but there were some other random things one could consider garbage. A huge set of golf clubs, an old scooter, things we just forgot and the buyer didn't ask us to move out. [link] [comments]  |
| Posted: 11 Jun 2020 12:42 AM PDT I'd like to buy a fixer-upper that won't qualify for conventional mortgage, so am thinking of getting a hard money loan. The lender requires me to sign a form that says it's not owner-occupied. My plan is to not live in it immediately, but fix just the biggest issues in the first few months, and then once issues are fixed "enough", call the bank and ask to refinance. Then, move in and continue to fix more minor issues. What gotchas aren't I thinking of? What could go wrong? 1) I need to make sure the hard money lender doesn't have a prepayment penalty. 2) Another thing that could go wrong is if my fixes are delayed for some reason, and I have to pay at high interest rate for longer. 3) Another thing is maybe I'm underestimating what it will take to make a bank happy to agree to refi. 4) ??? This is scary. Please help! [link] [comments]  |
| Posted: 11 Jun 2020 12:16 AM PDT We are in a contract that is supposed to close on a house in Utah on Thursday (6/11) . We found out on 6/10 at 9:00 am that the lender didn't receive one document from the title company on time so we will not be able to close and fund until Monday (6/15). We reached out to see if we could rent the property from Friday to Monday and offered $500. Our agent also sent a request to extend to Monday. They responded that they don't want to rent (which sucks but is fine) and they are refusing to sign the extension. They even told our agent they have a backup offer they will go with if we don't fund by the original 6/11. We have signed the closing CD documents and literally everything is set to go through on Monday. We will be homeless if they pull out. (We will have to rent storage for our stuff and pay for temporary housing until we could get another house). We have had numerous conversations with our RE and she is doing everything she can but they are refusing to sign the extension. We even had the Manager from the lender try to call the sellers RE to confirm that the loan is secure and will go through on Monday. I guess there is a three day gap required by law to fund after the loan is approved. Can they really do this? I am so lost as to what to do. We have 3 kids, one of whom is severely disabled and the sellers know this (they have brought it up several times in conversation). Are we screwed if they don't sign the extension? [link] [comments]  |
| Flooring costs for a spec home and valuation (DC Metro Area) Posted: 11 Jun 2020 12:09 AM PDT So my husband and I are recently under contract for a spec home in Northern Virginia. After the design center, the builder sent us to select flooring. We originally wanted all tile throughout but the flooring specialist said that they recommended laminate instead (what they use in the model homes). He said it would cost double (laminate throughout came to $59k) to get tile and the builder wouldnt even allow. My questions would be, if we are already paying over $700k for the house (~5300 sqft), would it make sense to pay another $59k for just flooring? Would it be cheaper to get the standard flooring and then upgrade later to what we actually want (tiles)? [link] [comments]  |
| How do I remove pictures from listing websites? Posted: 10 Jun 2020 11:39 PM PDT A few weeks after closing, I asked my realtor if they can get the listing agent to remove pictures of our house on Zillow, Redfin, etc. They contacted them and the agent said they had already "released" the listing and could no longer control it. What are my options to get the pictures taken off MLS and all the listing websites? I know I can take ownership and remove it on Zillow and Redfin, but what about all those other websites? Any advice will be helpful. Thanks! [link] [comments]  |
| Advice on buying/selling a unique Mid-Century Modern Home? Posted: 10 Jun 2020 10:42 PM PDT I posted this on the MidCenturyModern subreddit, so apologies if you've seen it twice. I deleted that post since it wasn't getting responses. Did you buy or sell a MCM house in the last few years? If so, how was the appraisal process? I'm deathly afraid that my deal is going to fall through. I'm moving to a small city in the Southeast with a very limited amount of MCM architecture. This is not like Palm Springs where there are a lot of MCM homes and wide knowledge and appreciation of MCM. I'm pre-approved for an appropriate mortgage and in good financial standing. I found an absolute gem of MCM home that a woman is selling now, six months after her husband passed, and she has accepted my offer, we are under contract. It is a true MCM home, constructed by a noted local architect. The seller and her late husband did an incredible job updating and refurbishing the house in an authentic and tasteful manner -- preserving all of the elements that make it a true MCM home, like the post and beam high ceilings, floor to wall windows in all main living areas. Everything (from the internal construction to the interior design-- plumbing, HVAC, water heater + softener, electrical, roof, paint, landscaping, kitchen, living room, bathrooms, bedrooms) is new and yet it still looks authentically MCM. We estimate that there are may be ten true MCM homes in the entire city and most of them have either stayed in families for generations or never go on the market, because they sell so quickly via private sales. My huge concern is that an appraiser from this area is not going to have a lot of experience with MCM homes and not recognize how unique this house is and how in demand it would be. I just lucked out by finding the house within hours of its listing and being the first to view it and make an offer. If the appraiser just compares it to the average cookie-cutter housing development home in the area with comparable square footage, they'll be comparing apples and oranges and I fear they will undervalue this truly unique property. There's nothing I can do until we get to the appraisal stage. Until then, I'd love to hear about any of your experiences. If you were a buyer or seller or agent, did you have any issues with the appraisal? And, if so, were you able to resolve them? Did you petition for a reassessment, secure a new appraisal, make an arrangement with the buyer/seller to make up the difference? [link] [comments]  |
| Xpost - Trouble negotiating incentives for new build Posted: 10 Jun 2020 06:54 PM PDT Was anyone here able to negotiate higher incentives for using a builder's lender? We are getting ready to sign a contract for a new build and they have offered $14k of incentives. I'm not satisfied and want to negotiate, but the sales agent has initially said flat out no. I know they're able to do more because another floor plan I was considering has $19k worth of incentives. Does anyone have any strategies or stories about negotiating more? My realtor is trying as well but I just want to make sure we've exhausted all options. [link] [comments]  |
| Posted: 10 Jun 2020 06:06 AM PDT Disclaimer: Our market is not as hot as some other markets on here, it seems. I don't know exactly what we were up against, but based on how many people were touring the home that day, and how quickly the first few homes we looked at went, we went in strong.
Edit: VettedVA on Facebook has been a great resource for us as well. You can ask for more specific advice on VA loans, and there are recommendations for local mortgage brokers to give you a starting point if you want some options. I think those are the main things! Good luck. :) [link] [comments]  |
| Posted: 10 Jun 2020 04:08 PM PDT The Bay Area is very competitive and we only have about 5% down and need to have appraisal and loan approval contigencies while other buyers can make offers with no contingencies. There is another house we looked at that's been on the for a while that hasn't received any offers so they may be open to negotiating with our terms. The thing is we're unsure about the neighborhood and we don't feel like we love the house/neighborhood. It's not a bad neighborhood perse but we just feel kind of whatever about it. The house is pretty decent but needs a lot of work and we don't feel like we love it. But maybe we could put enough work into it to help us love it? Or are we just trying to convince ourselves that we like it? Should we take it since the house is decent enough and there's less competition or should we wait and save more so we can afford something that makes us feel excited about it. [link] [comments]  |
| Searching 4 months to no avail, wait longer or compromise? Posted: 10 Jun 2020 09:26 PM PDT We did find one but got cold feet and backed out after inspection at last second, lacked privacy we wanted as well. The inventory has been tough here in NW Washington. Is there a right answer or is it anyone's guess? Should we compromise and just buy a new construction that lacks privacy but is nice and large or keep waiting to end of July maximum deadline? We entered phase 2 of covid restrictions which loosen things up so hoping more homes will go for sale. Kind of want to buy soon while rated are low. Got a super 2.85% rate on hone we backed out of, not sure we will be able to match that again. [link] [comments]  |
| Posted: 10 Jun 2020 09:08 PM PDT |
| Does having 2 part time jobs count as a full time job when trying to buy a house? Posted: 10 Jun 2020 03:02 PM PDT I'm trying to buy a starter home early next year when I'm finished with school. The mortgage lender & real estate agent both said being full time is important. Will 2 part time jobs count as full time to them? [link] [comments]  |
| Posted: 10 Jun 2020 05:13 PM PDT I want to get into the BRRRR method and I don't know what's the best way to start. I have 12k saved and I have a ranch that's appraised around 120k all payed off. My fathers done rehab his whole life and my mother recently got into real estate. Should I go for a hloc? Should I wait to see if the housing market will fall? Is there a way to get an equity loan now, and sit on it until the market falls? Should I just buy traditional fha on a multi family home? I just want to start building my portfolio but I don't know where to start. [link] [comments]  |
| Closing on a house in a few days. Seller not honoring their promise! Posted: 10 Jun 2020 02:49 PM PDT We have bought a home with an above ground pool and in the listing it stated "seller will have pool ready by closing". 2 days before close...and the pool is still not filled or ready to be used. Seller apparently went on vacation and hasn't been responding to his agent. We do not want to pay the extra costs to fill the pool and are wondering what our options are as buyers in the case the seller doesn't keep up their end of the agreement. [link] [comments]  |
| You are subscribed to email updates from HomeOwners & Investors. To stop receiving these emails, you may unsubscribe now. | Email delivery powered by Google |
| Google, 1600 Amphitheatre Parkway, Mountain View, CA 94043, United States | |
No comments:
Post a Comment