The fuck do I do after I’ve been told my offer was accepted ? (I’m excited and can’t sleep right now so......) Real Estate |
- The fuck do I do after I’ve been told my offer was accepted ? (I’m excited and can’t sleep right now so......)
- Inspection Gone Wrong
- Real Estate--Should We Sue for Earnest Money?
- Realtor told me it's a great time to buy a house.
- When can I start looking again? (unemployment related)
- Have buyers gone crazy?
- Closing delayed.
- Noisy Neighbor: Dementia. Need advice!
- Paying a lease up front. Is it risky or okay?
- Job Change Mid-Build
- How long do 3D walkthrough websites stay active?
- Cannot use home inspection to back out.
- Help! Seller left a TON of garbage when we had agreed they would remove it!
- REDFIN or realtor for selling your house
- Brokers & agents, how has COVID affected your job so far? How do you see it affecting you in the coming years?
- Renting a property with an FHA loan.
- Hoping to buy next year - what should I know?
- U.S. Landlord Survey - Advocacy to create a new U.S. federal government grant/loan program for property owners impacted by pandemic
- Buying a House with OpenDoor to save on closing costs?
- Neighbors structure on my property
- Seller won’t allow well and septic inspection
- Rented a house
- What Now ?!
- First time getting a mortgage - How do points affect us? [CA]
| Posted: 07 Jul 2020 09:42 PM PDT Not sure why I'm making this post. It's 11 PM, I need to get up early but I can't sleep because I'm so excited for what comes next. I'm the youngest guy in my family and friend circle to buy a home. I made an offer on my dream place this afternoon. Looked at it late yesterday, wrote the offer this morning, signed and sent it over this afternoon, got told our offer was accepted around 5-6 hours later. No negotiations, no back and forth. They had multiple offers to chose from and honestly I wasn't expecting to come out on top given the market and how fast places go, especially in the area of where I got in. I had financing and home inspection as my conditions and offered only 5% over asking/list price, but only because I knew there were multiple offers. So since I'm excited and can't sleep, what comes next ? What can I expect ? What're somethings to do or prepare for ? [link] [comments]  |
| Posted: 07 Jul 2020 11:13 AM PDT Okay, Reddit, I'm pretty angry and am looking for guidance on whether my anger is justified and/or how I should address it. We recently went under contract after listing our house for sale. Our next door neighbor is actually buying the house to rent to one of her kids. She expressed interest in buying and asked if she could look at it, so we let her do an initial tour without a realtor (it was just her and her daughter.) About a week later, our agent received a written offer from their realtor, which we negotiated and ultimately accepted. A couple days ago they did their inspection, and it was a MESS. They'd scheduled it for Friday at 1pm. We were already planning to leave town for the weekend that evening, so we decided to just get on the road early so that we'd be gone for the inspection as we're supposed to be, without having to kill 3-4 hours. Our realtor set the expectations with us that the appointment is typically just the inspector, and the buyer and/or their agent will join for the last 20-30 minutes to review the findings. At noon, the neighbor rang the doorbell, and she, her realtor, and the inspector were there for the inspection (an hour early). I explained that they were early for the appointment window, and we were busy packing/loading up to get out of town prior to the scheduled inspection. They asked if they could just get started early, and I said we'd finish up as quickly as possible and let them know as soon as we were leaving. They seemed irritated that we wouldn't just leave right then, but I tried to keep it friendly, left by 12:30 and notified them that they were free to get started early. About 30min later, another neighbor, who was keeping an eye on the house while we were away, called me to say there were A LOT of people coming and going between our house and the purchasing neighbor. We have cameras covering the front of the house, so I looked at the footage, and sure enough, there was about 15 people - men, women, children, etc, some of whom I recognized and most of whom I did not. I went through the clips and it's 3 hours solid of people coming and going, kids running back and forth, etc, and very few of which show anyone being escorted by one of the two licensed pros (realtor and inspector). I sent these video clips to my realtor and was very angry. It's still OUR HOME filled with OUR THINGS, and there's just a bunch of people running around doing who knows what. Even with typical showings, there's a licensed realtor there to escort and the number of people present is typically limited to the actual buyer. The inspection is NOT the time you get to show off to all your friends and family the house you're buying - they can look at the photos from the listing and/or see if after closing when you move in. Additionally, we're in the middle of a pandemic and just the health concerns irritated me - where we live, you're limited to gatherings of 10 people, and they had at least 15 coming and going, in someone else's (my) home, without our permission. Furthermore, when we returned home on Sunday, we found that the backdoor had been left unlocked all weekend, and I know for certain it was locked when we left. It's the realtor and inspectors responsibility to insure the house is locked up when they finish, and they failed to do so, even knowing we were leaving town. Additionally, while we have cameras in the front, we do not have them in the back. Because the buyer lives next door, they could easily get from their gate into our backyard gate and through the unlocked backdoor without being detected by our cameras or neighbors. I won't claim that leaving the backdoor unlocked was intentional, but I also don't feel comfortable assuming it wasn't. I feel totally violated. We did notice on the video that following the inspection, the entire gang, including the realtor and inspector, went over to the buyers house. I've obviously raised all of these concerns to my realtor, and he agreed that the experience was unacceptable. Since then, he's brought it to the attention of the buyers agent, but said he hasn't gotten any meaningful response or acknowledgement... No apology, admission of wrong doing, etc, just basically "too bad, so sad." I asked my agent about filing a complaint against the realtor, inspector, or both, and he said he'd look into avenues to do so, but that if I'm serious about filing a complaint, he doesn't suggest I go forward with that until after the closing in an effort to avoid any backlash prior to the sale. I feel totally helpless and violated. The entire inspection process felt totally out of line and it doesn't feel like I've got any recourse. Is this normal? Has anyone else experienced anything similar? Is there anything I can or should do, or do I just need to let it go? We're still pending the inspection report and any forthcoming attempts at negotiations, and I'm going to be SHOOK if anything there looks out of line. We take very good care of the house and aren't expecting any surprises, though we understand the inspectors job is to point things out and the report won't be perfect. [link] [comments]  |
| Real Estate--Should We Sue for Earnest Money? Posted: 07 Jul 2020 06:54 PM PDT We are the sellers of a home in Oregon. At the time of final underwriting it was discovered that the buyer failed to disclose a business loan over 1 million dollars that they had signed a personal guarantee on. They also failed to disclose multiple other properties they owned. This put their income/debt ratio over the limit, and the sale of our home fell apart. Our realtor advised us to seek legal counsel to keep the earnest money (not a small amount), as it could be argued the buyer did not act in good faith by failing to disclose the loan plus the additional properites. We are doing that, but also wanted to ask here for people's thoughts. Happy to answer any follow-up questions. [link] [comments]  |
| Realtor told me it's a great time to buy a house. Posted: 07 Jul 2020 12:00 PM PDT Honestly, my gut tells me it's not. Yes, interest rates are low but prices are way up. Plus, the uncertainty of Covid and it's effects on the economy have me weary of his statement. What do you guys think? I'm in California btw. [link] [comments]  |
| When can I start looking again? (unemployment related) Posted: 08 Jul 2020 02:01 AM PDT Since number matter the most, 10+ years at a high end steak house, 60-75K the last 5 years on my W2, but it's part time technically, easily 20% down on a 300K house. Going on last year's numbers I made a little over 5K a month after taxes. Quick glance at a local house that's 315K, 63K down, shows the house with tax and insurance at $1,531. Easily doable, in my mind...last year. Question 1: How bad does me being part time play into things? Question 2: When can I get approved now? I know the answer is not today! LOL We're closed. I'm on unemployment. When we reopen, staff is being called back based on seniority and on demand (how busy we are). I don't know when I'll be back. More so, what I'm getting at, how important are recent pay checks? Say I start back August 1st, but only make 2K that month, next month is 2300, and things start to creep back towards normal...at some point I'm back to 5K a month, but that might not be till Christmas, maybe next summer as I'm in FL and tourist based. Since I'm looking at houses that will be $1,500 a month, do I need to show say 3 months of $4,500+ income? 50% kicking myself for not buying in February, 50% hoping the sell off of airbnb homes will keep up and I can come out ahead by buying in the future vs 02/2020 prices. [link] [comments]  |
| Posted: 08 Jul 2020 04:02 AM PDT In the western suburbs of Pa, buyers are offering 40-50k over ask with no contingencies. These houses are not worth that much when comparing them to comps and I doubt they appraise. People seem to think that the values of homes dropped 20% because of COVID. Why would you put in an offer with no contingencies if the house was septic? Just asking for a disaster there. I've noticed that this seems to be the case for all houses under $600k. There was a house listed for $580k that needed a full stucco remediation (at least $100k) and the buyers waived all inspections and no credit to the buyers for remediation since the sellers had the stucco inspection report already. I wish people would stop being crazy and start thinking rationally for once. [link] [comments]  |
| Posted: 08 Jul 2020 03:56 AM PDT So my closing got delayed by my lender. Not sure yet by how long. They're telling me that my property taxes still need reviewed and they need 2020 receipts of boro taxes and school taxes if they were paid, and that they will bring this to the attention of my realtor. They said that the property tax agent won't be back in the office until monday. So im confused. What does this mean for me? Do the sellers need to show these receipts? This is my first time doing this and it's all very confusing. I also tried getting ahold of my realtor to discuss the closing delay yesterday and no answer. The original closing date was set for friday. What should I do if I can't get to him by then? All I want to know is what's going on and to discuss all of this with someone who knows but he can't answer the phone. I'm so frustrated. [link] [comments]  |
| Noisy Neighbor: Dementia. Need advice! Posted: 07 Jul 2020 09:46 PM PDT First post here and I don't know where else to turn. So my house's neighbor is an old Greek lady whose English is her second language. She's kind, clean, and means well and is all-in-all a good neighbor. She is the owner of the house she lives in. To help her with the bills, she rents the upstairs of her house to a man who has dementia or Alzheimer's. She didn't know this when she rented it. The older man's family has more or less abandoned him there, especially so with this COVID business going on. I see no future where the family acts unless forced to. Now this old man with dementia leaves all the windows open and blasts his TV 24/7. I looked up my local noise ordinance and he's in clear violation. No need to record anything, at any point a cop could come out and hear it. It's not like talking to him is going to fix anything. So what do I do?! 1) I'm afraid if I call the cops for a noise complaint, the old nice lady is just gonna get hit with tons of tickets each day I called. 2) I know APS is a possibility too, but it seems like I'm getting too involved if I'm calling them. How do I get this fixed?! Ideally without ruining this old ladies life? She hates him as a tenant, but evicting someone is tough as is, especially when you're an old lady whose second language is English and has no money for a drawn out law battle. Is there a way? It's this old guy's family who should be getting the tickets and providing him proper care. Help Please! [link] [comments]  |
| Paying a lease up front. Is it risky or okay? Posted: 07 Jul 2020 11:47 PM PDT My fiancé and I are unemployed due to COVID, we are moving into a new town (I'm very confident we will find jobs immediately). The apartment we applied at was hesitant that we were unemployed so I told them we could pay a 6 month lease upfront. Is this ever a normal thing to do? Can they try to evict us for no reason and keep all six months rent that we already paid them? [link] [comments]  |
| Posted: 07 Jul 2020 09:22 PM PDT Hi there! Back in February we sold our home and we are currently in an apartment while our new home is being built. (Awaiting municipal inspections before moving forward right now!) Last Friday, my husband was given an unexpected job offer that is absolutely perfect for him. Same career field, same job title...different company...better pay, better growth opportunities, etc. But...we are Mid-Build. We won't close until November, most likely...and our lender said it should be fine. She put notes in the file and gave him her "blessing" to accept the job. We've seen a lot of things go wrong for people though, and we are a bit worried here. In y'all's experience, will accepting the position be a bad idea for our closing process? I assume the current economic/health/political landscape will play heavily into home loans for a long while, so I. Seriously apprehensive. 😬 [link] [comments]  |
| How long do 3D walkthrough websites stay active? Posted: 07 Jul 2020 03:20 PM PDT The house I am buying has a 3D walkthrough with matterport. How long can I expect the website to be up? It's a useful tool I'd like to preserve if possible. [link] [comments]  |
| Cannot use home inspection to back out. Posted: 07 Jul 2020 05:56 PM PDT Hey RealEstate Reddit Community, I am interested in a new construction home from a builder. I was told by my sales agent that the builder company won't allow me to walk out and take back my earnest money if I find any flaws from a professional home inspection. My sales agent mentioned that it is a common rule for new home construction because the builder worked on constructing the home of my choice already. In my case, I have to pay 2% of the total price as earnest money and I am allowed to bring a professional home inspector to find any flaws that the builder will fix before the move-in date but I am not allowed to back out of the deal without losing my 2% earnest money. This make sense to me but I was just wondering if this is a common rule for new home constructions? And is the house still worth considering if I am guaranteed to lose 2% of the total cost if I do decide to back out? [link] [comments]  |
| Help! Seller left a TON of garbage when we had agreed they would remove it! Posted: 07 Jul 2020 05:44 PM PDT The sale was recorded and we were supposed to receive keys on our property in Inglewood today! We articulated 4 or 5 times that EVERYTHING is to be removed and they have left a few dumpsters worth of trash, including gerbil cages, boxes, food waste, etc.. What should I do?! [link] [comments]  |
| REDFIN or realtor for selling your house Posted: 07 Jul 2020 09:24 PM PDT Hi! I'm thinking of selling my house in the next couple of months and I'm trying to figure out if it is better to go with REDFIN or with a realtor. I bought the house 7 years ago through REDFIN and if I go that way I may be using the same agent in REDFIN that helped me buy the house. I had a good experience then but I'm not sure if I should be looking at something else when selling. Any thoughts? [link] [comments]  |
| Posted: 07 Jul 2020 06:56 PM PDT |
| Renting a property with an FHA loan. Posted: 07 Jul 2020 06:52 PM PDT Hi guys! I hope this is the right sub for my question. Two and a half months ago, my wife and I decided to list our house for sale in a very small farming community and head for a bigger city. We bought our house two years ago with an FHA loan. Our realtor said we would have no issues selling our home, as comps in the area sold quickly and the house is nice and reasonably priced and we live within commuting distance of a larger city. Well, I had a falling out at my job which resulted in us moving before we had a buyer lined up, so now we moved four hours away and left the house vacant for sale. We had money to afford everything for a while but now the budget is getting way too tight for my liking. Being that we have an FHA loan on the house and no money to refinance, I was wondering if anyone had any experience renting out a property that has an FHA loan. At this point I don't care what it takes to get this issue taken care of, it needs to start paying for itself or get sold. Any input is appreciated! [link] [comments]  |
| Hoping to buy next year - what should I know? Posted: 07 Jul 2020 08:52 PM PDT As the title says, I'm hoping to buy my first house next year, and want to start learning what I should know. I'm in ATX and the prices increased ~10% over the last year. I'm not planning on buying a property that I can't put 20% down on. I'm also planning on this being a starter, I'm single home, and reselling at some point after settling down (hopefully within the next 5-8 years, lol). What should I know if I'm going into it knowing it won't be my forever home? Should I be taking things into consideration such as condo vs townhome vs home? Amount of bedrooms? Square footage? Any and all guidance is appreciated, and thank you in advance! [link] [comments]  |
| Posted: 07 Jul 2020 10:12 AM PDT My U.S. based nonprofit is working with Congress and other advocacy groups to create a new Federal lending facility that would provide very low cost loans and/or grants for individual residential real estate investors in the United States that have been impacted by the pandemic. Our economists have created a survey to collect information from rental property owners and managers regarding what they are experiencing in the market and to gauge investor interest in suggested program elements. The aggregate data will be shared with Congress and the press, individual responses are anonymous. We have gotten approval from the mods to share this survey with your group. If you are a rental property owner or manager in the U.S., please take or share our survey. It only takes a few minutes but will make a big difference as we advocate for this program. Link to survey: https://nahrep.org/landlord-survey/ [link] [comments]  |
| Buying a House with OpenDoor to save on closing costs? Posted: 07 Jul 2020 11:59 PM PDT So I have read mostly negative reviews here on reddit regarding Opendoor. Most all the reviews however, seem to focus on buying and selling homes directly owned by them and the associated problems. It seems however, that OpenDoor offers a 1% credit on purchase price for most any home on the market (NOT owned by them) including the newest MLS listings. Fine print mentions something about $3,000 commission to buyer' agent. Need to find out if you can still use your own agent for this credit and also find out if any decent agent would deal with them and a possible diluted commission? Just wondering if this is an option worth considering as I am currently looking to buy a house within next 6 months and would love to save a potential $3.5K-6.5K (650K house budget) money to apply for closing costs. [link] [comments]  |
| Neighbors structure on my property Posted: 07 Jul 2020 09:53 AM PDT When we moved into our home, my neighbor came over and "leveled" with me that the separate garage he had built years prior, as well as some of the driveway, actually crosses over the property line into my property. I hate the garage. We bought a home with a nice view and the garage is a double story that obstructs much of the view in that direction. We have a nice relationship with our neighbors, but being that they are quite old, I considered doing something about it after they pass and sell or transfer the home. Ideally, we would have it taken down. What are my options? [link] [comments]  |
| Seller won’t allow well and septic inspection Posted: 07 Jul 2020 02:58 PM PDT I'm looking at a home and the seller will not allow a preinspection on well or septic. The septic is very old and will likely need replacement which I am ok with, but What would be the reasons behind someone not allowing one at all? [link] [comments]  |
| Posted: 07 Jul 2020 11:34 PM PDT My Family rented a house in florida for 6 days and we are suspicious that the house owner is living in the garage of it, it has 2 garages and one is locked the guy that owns it has a lot of his stuff still here but he has a computer in the garage we see through the window and it only comes on at night but we can the blue tint through the glass blurred doors what should we do? it's really suspicious! [link] [comments]  |
| Posted: 07 Jul 2020 10:37 PM PDT Hey y'all. Just hung my license recently and I still have many questions on what to do next. I will be submitting my application to join my local AOR in Southern California so that I can have MLS access and become a realtor. Once this happens I plan on finally prospecting. I guess my question to my fellow agents is what did y'all do when you first started to generate leads and become more familiar with the industry. My main struggle at the moment is the whole transaction process and not wanting to screw it up. I've considered working with a transaction coordinator such as transactly to handle the whole process while I focus on turning leads into sales. I Also was considering using a software called Redx to generate cold call leads. How do y'all feel about those softwares. And one final question (which may sound stupid) where do I even get all of the contracts and disclosures that are necessary such as an RLA or RPA. Thank you for your help. [link] [comments]  |
| First time getting a mortgage - How do points affect us? [CA] Posted: 07 Jul 2020 12:51 PM PDT My husband and I just got married and are buying a property my parents own using a gift of equity for our down payment. The home is valued at $450,000 and we're basically taking over the balance of the existing mortgage (~250k). We are in the process of securing a loan from Quicken (which apparently is a bad idea, although we didn't know that getting into it). They've given us a rate of 2.875% with 1.5 points. We understand points and interest rates, but we don't know what's reasonable in terms of number of points, how they affect us, etc. Any advice would be greatly appreciated! [link] [comments]  |
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