Title company fees are making me laugh out loud Real Estate |
- Title company fees are making me laugh out loud
- Realtor knocked on my door yesterday. She said she has clients who thought my house was cute and asked if I had any intentions of selling. What should I do?
- Our Real Estate Agent Said We Will Get Blacklisted If We Pull Out of a Deal
- Is house hunting fatigue a real thing?
- Advice about Getting Evicted
- Urgent - Offer accepted. New house in flood AE zone. Built according to flood requirements
- What do you find to be the most nerve wracking part of the home buying/selling process?
- Questions about Zero Lot lines in California
- Favorite Rental Property Turnover Tips
- Realtor lied - Need some advice
- [First time buyer] townhouse owner is selling as a loss. Bad investment for me?
- Buyers terminating sale after we (sellers) did not agree to fixing their entire list after inspection- advice needed!
- Did we do the right thing?
- My Experience Locking In a 30yr 2.875% Refi By Comparison Shopping Lenders With Own Up
- Turned down tenant asked if I will sell. Situation is VERY sticky. Advice MUCH needed!
- Full Time Job and Real Estate?
- Owner offering to sell house to us Owner Finance. Need some advice.
- Considering relocating to another state...noob here
- How do you determine the best offer to make?
- Under contract and waiting for the current tenant to move out by closing
- Rehab Financing
- Flat roof replacement cost? [Chicago] [First time homebuyer]
- I’m looking to buy a house and my coworker is selling hers - too good to be true?
- Two young couples considering buying a duplex. Is there any general advice on a strategy for doing this? And how to equitably manage a situation like that?
| Title company fees are making me laugh out loud Posted: 01 Jul 2020 12:10 PM PDT We're selling a house. The buyers picked the title company. $295 to pay off my previous mortgage. $90 to wire me the remaining proceeds. I burst out laughing. $385 to send two wires? I mean, come on. I want to contest these fees -- I worked in finance for 20 years so I know they're ridiculous -- but I'm betting I'll get nowhere with it. Anyone have any title company fee success stories? [link] [comments]  |
| Posted: 01 Jul 2020 04:53 PM PDT The title says mostly all of it. Yesterday morning I answered the door and a woman said her clients thought my house was cute and asked if I was interested in selling. The people who I assume were her clients were with her but in the car. There's one house down the road on the market, and one a few streets over but that's pretty much it for the neighborhood. I politely declined but took her business card. I looked into her after she left to make sure it wasn't something scammy and she appears to be an established agent in my area. After thinking about it for a day, I feel like I should at least entertain the idea, right? I don't want to waste people's time because the offer would need to be high enough to cover what I've put into it (In October I had a sump pump and waterproofing in the basement installed, new water heater, new washer/dryer). But maybe the offer would be high enough? I'm in no way attached to this house so if I can profit off it, why not? If I went ahead with anything, my thought was to reach out to my agent who helped me buy this place (he was great!), explain everything and have him talk to their agent to get a feel for what they'd bring to the table. I guess I'm looking for thoughts and opinions on what you fine folks would do. As I said, this is my first house and have a limited knowledge of how this all works. [link] [comments]  |
| Our Real Estate Agent Said We Will Get Blacklisted If We Pull Out of a Deal Posted: 01 Jul 2020 12:50 PM PDT We're going through a real shitty time trying to buy a house. The seller is being a nightmare, and we're still in inspections. We're trying to pull out of the deal, but our agent said we will get blacklisted and won't be able to find another agent in the area if we do. Is this true or this a threat? [link] [comments]  |
| Is house hunting fatigue a real thing? Posted: 01 Jul 2020 06:10 AM PDT My wife and I have been looking pretty aggressively for about 8 months now. We lost a house we loved a few weeks ago and just found another house we are about to bid on that literally checks all the boxes minus a pool (but the sellers have an approved permit and we love the design so will likely be putting that in next year). For some reason though my wife and I just don't have that, I don't know...spark? We had it on other houses we didn't put offers on because it didn't meet all of our criteria. Idk if it's something we don't love about the house or if we are generally just burnt on searching and losing places. Does anyone go through the same thing? I'm worried about losing this place because we are burnt out and not because we don't love it. [link] [comments]  |
| Posted: 01 Jul 2020 06:53 PM PDT Hello, First of all, not sure if this is the place to post this. I tried r/AirBnB but it won't let me post. I recently booked an Airbnb for 6 months. I'm only one month in. I've made two payments. The first payment was made when I first booked the place one month ago, and the second was made just yesterday. I just received a text from the host telling me that she had an emergency and she needs her place back. She just gives me 5 days to move out and I don't have any place to go. I moved to this city (Newark, NJ) for a job recently and I don't know anybody who could help me. I'm not confident I can find another place on such short notice. Any advice would be appreciated Thank you [link] [comments]  |
| Urgent - Offer accepted. New house in flood AE zone. Built according to flood requirements Posted: 02 Jul 2020 03:59 AM PDT After searching for a year, we finally got our offer accepted. House is brand new but in AE zone due to being close to a river. The street was flooded during Irene in 2010. A new house was built from ground up last year. Has elevation certificate. Ground floor is just garage built on concrete slabs and floor. AC heater/boiler all on 2nd floor. Rest of the house is well above flood plane. I don't plan to keep anything in the garage except cars.. Risk of future flooding is only to garage. On the market for past 12 months. originally listed for 799 all last year. The price is 15% lower compared to rest rest of the other house in town... I'm financially good and can manage any financial risk. Will get flood insurance etc.. originally listed for 799 last year, listed back for 765 last week.. I put an offer for 730 but the Seller didn't accept or reject. I finally offered 740 and it was accepted. Putting 35% down. Tight market in NJ. 15 miles of Manhattan. Near train and bus station.. Have appraisal, loan and inspection contingency. Flood insurance is around 600 per year. Will get 3% 30 year rate with no closing costs/points from lender. Dual agent. as I didnt get my own agent and the reason the deal is going thru without delay. What you guys think ?? . Anything else I should include in final contract due to Flood zone?? [link] [comments]  |
| What do you find to be the most nerve wracking part of the home buying/selling process? Posted: 02 Jul 2020 05:36 AM PDT So my husband and I are in the process of selling our condo, and buying a house. The condo sale closes on the 15th, and our house closing is on the 29th. I'm finding these lasts two/three weeks before selling the condo to be the most nerve wracking. At the beginning of the process (contract negotiations, inspection, attorney review, etc.) There is a ton of communication so at least I feel I know where things stand. These last few weeks it is just silence! Did the appraisal go well? Is their lender giving them the mortgage commitment? Will they get approval 3 days before? It's the waiting in silence that is going to kill me slowly... What do you find to be the most stressful part of the process? EDIT: Weird capitalization typo LOL [link] [comments]  |
| Questions about Zero Lot lines in California Posted: 01 Jul 2020 08:31 PM PDT Hey all, First time poster here looking for some advice or possibly just a confirmation on what I think I already know. I own a Zero Lot Line Property in Northern California also known as a garden home. These homes have a side yard that is enclosed by the wall of my neighbors house and my front fence. All of the land up to that wall is my property And the wall is the existing lot line. Our CCR's provide my neighbor with a 5ft easement to allow him access to this wall for painting and repairs which I would have to grant him access to my enclosed yard to do. This also means I cannot build any permanent structures on the side of my house that would infringe on that 5ft easement. Totally fine with all of that. Last week a new neighbor moved in next door and was asking me to access my yard to do some repairs to the siding we exchanged numbers and agreed to set a day/time for him to access my yard. All good so far. Here's where it got tricky. He also added that he'd be running a vent through the wall. Hard stop. He essentially wants to move his dryer to the garage that shares our common wall and install the dryer vent so that it vents directly into my yard. Yeah, not happening. Now, from what I understand, the building codes and CCR's state that the shared wall cannot be altered for ventilation, windows, egress or anything else that would infringe on my property line. Same as how I cannot build a permanent structure within 5ft of the wall as to allow for the easement. Furthermore, I understand the building code for these type of homes in our area specifically states that all ventilation has to be vertical through the roof and set back 2ft from the shared wall. (2ft inside his property from the shared wall.) Which would be a building code violation should he attempt to create a lateral ventilation on the shared wall into my property. I have a feeling that even though I've told him about the building code requirements and given him a hard no, he's still going to push the issue and even possibly try to cut the vent hole from his side of the wall. Am I wrong here about my CCR's and building codes? If he tries to cut the vent what can I do? Call local code enforcement? Any help or advice is much appreciated. Thanks all! [link] [comments]  |
| Favorite Rental Property Turnover Tips Posted: 02 Jul 2020 05:14 AM PDT What is everyone's favorite easy and affordable rental property turnover tips and tricks? For example, I find an easy one is simply re-caulking the bathtubs and replacing showerheads, making the shower look brand new, after cleaning of course. I'm just looking for basic easy and affordable tips for my rental property turnovers that will make new tenants feel like the place is clean and somewhat upgraded. Edit: I forgot a couple of my favorite tips. I use chlorhexidine solution to mop and clean most hard surfaces. This is what vets and hospitals use to disinfect, and it does wonders in getting the former residents smell out of the house. I also spray Ozium in the air handler to freshen up the air ducts and smell of the house. Cheaper and easier than an ozone machine rental. Just be careful to spray and then vacate for like a day, it's not safe to be inhaling a lot. [link] [comments]  |
| Realtor lied - Need some advice Posted: 01 Jul 2020 08:37 PM PDT Hi, first-time home buyer here about a house and agent in South Carolina. Have a few questions. We have a dual agent. On the house listing on realtor.com, which we are now under contract for (still haven't closed yet), the house was advertised in ALL CAPS saying it had a brand new roof installed just recently. That was a selling point for us. It's a mobile home that listed for $85k, has been on the market since early January. We eventually got to $78k and up to $3500 closing costs for the accepted offer. All good so far. We're now applying for home insurance, and home insurance asks for stuff like recent improvements/changes to the home and recent filed insurance claims. After asking our agent a million times when the roof was remade (I'm thinking it was built like 2018 or even last year, since it was advertised as having a brand new roof), he finally texts us today to say that it hasn't been changed since the home was built in 2004... Soooo basically it appears that he lied, which doesn't give me confidence that he hasn't lied about anything else about the house. We're also not in South Carolina--we're in Michigan, and can't see the house up-close other than the video walk-through we did with him over zoom. So today we screenshot the listing that shows the ALL CAPS ad for the new roof to back us up just in case we need to go to court--and we checked the listing like three hours later, and the all caps part about having a new roof got deleted. On top of that, before we signed the contract, we checked the seller's disclosure. The disclosure basically came out clean--nothing wrong with the house that she knows of. But our agent just told us today that there was one insurance claim that was filed in 2016... he didn't tell us what it was for. This wasn't noted on the disclosure form--is it supposed to be? I'm not sure what SC disclosure forms are like, but when we looked at a seller's disclosure in Mississippi, the seller wrote down what had previously been problematic in the house, but wrote that it had been fixed ("toilet pipe damage, got fixed by plumber"). Should she have put down on the disclosure the issue in 2016 that they filed for? All of this information came at us today. Today was our home inspection. What I'm wondering is, if we decide to back out at all at this point, can we get all of our earnest money back and get him/broker to pay for our home inspection? It's kind of BS that we thought we were getting a new roof and now we're not. We texted him and told him he misled us, and he came back at us saying that it wasn't misleading but a mistake--supposedly, they thought they needed to put a new roof up last year and were about to get it fixed, but it didn't happen. This may or may not be true, and I'm inclined to think it's definitely NOT true, but the fact of the matter is that he put "BRAND NEW ROOF INSTALLED" and we made an offer on the house partly based on the understanding that there would be a new roof. Would this count as fraud or just being misled? Also, if we did decide to continue with the contract, could we ask for the price to be lowered? And if the home inspection comes back with a report saying the roof will need to be replaced soon/there's damage to it, could the report on top of the false advertising of a new roof be a good argument for the seller to lower the price of the house? Also, do texts count as written contracts? Our due date according to the contract for the earnest money was 6/24. We hadn't turned it in on time because the seller didn't respond by the offer deadline to accept it (she accepted a day late)--so our agent texted that as long as he got our earnest money this week we'd be fine. We sent a money order on Thursday and mailed it--it should have come in by Monday, but while my husband was texting him about misleading us, he suddenly brought it up in conversation: "Did you send the earnest money yet?" It's Wednesday today. We'll call the brokers in the morning to see if they received it, but I'm worried that, if we choose to walk away from the house and sue him, he is going to argue that we don't have a right to sue for them to pay the home inspection fees/entire earnest money because technically the contract was already void because he didn't receive the earnest money on time. I hope I'm making sense. I'm seriously stressed out and this whole process has made me resent the process of buying a house, honestly. Just before this, another real estate agent in Mississippi pressured us into making a higher offer on a house than we had originally wanted, and our lender lied to us about closing costs. This hasn't been fun. Thanks in advance for all of your advice/insight! [link] [comments]  |
| [First time buyer] townhouse owner is selling as a loss. Bad investment for me? Posted: 01 Jul 2020 02:51 PM PDT First time home buyer. Near a metropolitan area in the US (about 20 mins driving distance). The owner bought this townhouse in 2015. However, the selling agent said he never fully moved in due to work related issues. During the tour, I did notice the excellent condition for it being a 5 year townhouse. The owner put in every kind of upgrade imaginable. So there isn't a single thing we would have to fix (aesthetically). However, the owner bought this at $1.5M in 2015. It is now selling around $1.4M. Even with all the upgrades, the owner is losing money (remodeling + original purchase price). Would this be a bad investment? I guess I find it odd that even with the upgrade.. why is the owner losing money? Average HOA is listed at $260 a month. I'm a first time home buyer. So any advice would be greatly appreciated. [link] [comments]  |
| Posted: 02 Jul 2020 03:45 AM PDT A few weeks back, my husband and I listed out home. Due to the highly competitive sellers market, we had 12 showings in two days and were under agreement within three. We agreed on a price that was 4,900 under asking. We had upped asking price a bit to account for this and just wanted the process over with, so that's why we took a lower offer so quick. Well we got the buyer's response to inspection a few days ago and were shocked at their very long list of asks. Husband and I didn't have any known issues with our home and weren't expecting any major finds. After reading through this list with our realtor, he was a bit taken aback as well as he explained that most of these "issues" are cookie cutter finds on inspection reports for any house, let alone ones built in the 1940's in our area. Some of our asks were ones he has never heard in his long career. Things we agreed to fix: - install radon mitigation system - address mold found behind wall - address various minor plumbing issues/ leaks in bathroom tub/ shower/ toilet - install new outlets in kitchen and porch to be up to code Things we stated we will not fix - address grading of yard so water slopes away from home (we have no issues with this and found it outrageous to landscape our entire yard) - address effervescence/ salt crystals in unfinished basement (realtor says most all homes in our area have this) - replace rusted gas meter (we believe the gas company owns this) - fix a leak "behind shower wall" (husband is experienced in this sort of thing and can't find it at all and has no idea what inspector means) - replace broken outer pane of double window (was like that when we moved in and would require replacing entire window, which would be costly after already addressing radon and mold) - address cupping of wood floor in finished basement ( precious owners put floating floor on top of un-level garage floor to finish basement- we have no moisture issues and again this would be a very costly fix) Realtor sent this list to our buyers (with the reminder that they got the house for under asking and would be paying significantly more for new constructions), but they are terminating. They made it clear that they expected everything on their list to be fixed. Do you all think these inspection results will be an issue going forward? We still planning on fixing the same things, but now the inspection results will be disclosed and I'm terrified that perspective buyers will walk away for the same reasons. We close on our new home tomorrow and money was going to be quite tight until closing on our current home next month (which now isn't happening). This adds to the stress level quite a bit! Anyone with advice, experience, or anything to ease my mind? [link] [comments]  |
| Posted: 01 Jul 2020 12:39 PM PDT My husband and I found a house that was pretty much everything we wanted. We offered a price the seller came back with a counter and we accepted pending a home inspection. The house is old and the roof is very old and has a very clear dip in it. The inspector told us to get a proper roof inspection because he can't actually go on the roof (roof also has solar panels). So we did...roofer brought my husband and the seller both on the roof to show them that the roof is terrible and needs replacing. Loose shingles everywhere, and lots of sagging. He gave us a price on how much it'll cost to replace so we asked the seller to come down that much. Seller refused and said that the roof is fine and that he used to be a roofer. They say the roofer is just looking for a job..The roof is almost 30 years old. We really want the house but can't afford it with the original price plus replacing the roof...I'm so sad at loosing this house...did we do the right thing? Just looking for some opinions [link] [comments]  |
| My Experience Locking In a 30yr 2.875% Refi By Comparison Shopping Lenders With Own Up Posted: 01 Jul 2020 12:20 PM PDT tldr: we used Own Up to shop for the best refinance terms, were satisfied with the service they provided, and would recommend them to anyone looking around for a new mortgage. Our context: Excellent credit, $150k loan balance, ~$120k equity, 24yrs remaining @ 4.625%. Refinance - no cash-out, fees rolled in, prepaids out of pocket. 30yrs, 2.875%, no points, waived appraisal, small lender credit. Our story: Over the last 6 months we've been shopping around, keeping an eye on rates, waiting for what we hoped would be the best opportunity to refinance our mortgage. I had tabs on a big bank (WF, who is our current mortgage owner), a regional credit union, and an online lender Better.com. I saw an ad for Own Up that pitched themselves as basically a nice-UI online broker. I had steered away from engaging the likes of Lending Tree and others because of the unwelcome inundation of calls and emails that would surely come, plus not willing to commit far enough for a hard credit pull but wanting accurate quotes and not bait. Own Up seemed interesting and pretty low risk to get a variety of customized quotes, so I went for it. After inputting my information I agreed to scheduling a call with one of their advisors. It was a quick chat confirming what our refinance goals were and what their process would look like. Shortly thereafter, I received the first round of quotes in an expandable dashboard that detailed each offer's rate and fee information. There were several types (duration, rates, cost structure) based on what I had mentioned were qualities we'd entertain from about 5-6 different lenders I hadn't heard of. The advisor made themselves available if I wanted to move forward with any of them or sit back and wait and provide me new quotes at my request. So I sat back and waited, and periodically emailed the advisor for a fresh set of quotes, perhaps once every few weeks for the next 3 months. Never received any pressure, and they were happy to answer questions. Fortunately, the numbers began reaching where we hoped they'd get to, and we were able to lock in our rate and terms by completing the initial application with the selected lender by EOB. The handoff was easy and we're about a week into processing with our chosen lender. I'm writing this to provide those who are looking for lender options, broker options, etc and who either haven't heard of Own Up or have heard and haven't found anything on them here (like me). I'm not affiliated with them, I'm a homeowner who was looking for a great deal and an easy, helpful process. I'm happy to answer questions as best I can! [link] [comments]  |
| Turned down tenant asked if I will sell. Situation is VERY sticky. Advice MUCH needed! Posted: 01 Jul 2020 08:22 PM PDT A tenant I screened but turned down for a relatively minor reason (restricted breed pet) asked me if I would be willing to sell. I would love to do this, but I have had the house for only a year, so my equity is limited. I'd need to sell under very specific conditions in order to satisfy the other person on title (not on the mortgage, but on title-- though they do have about 22% stake in the house. Don't get me started on how dumb this was). Presumably, the buyers would be financing with a VA loan, which I have no issue with. However, I am not able to mess too much with sale price because it must appraise. With all of that noted, for it to work on my end and theirs, I would prefer to do the entire process through a real estate attorney. How difficult is this? Am I in over my head? The house itself has some superficial fixes to be done that we have been working on anyways because we intended to rent. My motivation for selling is getting out of this "investment" with the person on title who is taking advantage of being on title, but carrying no true liability. Send help. Advice needed. [link] [comments]  |
| Full Time Job and Real Estate? Posted: 02 Jul 2020 02:08 AM PDT Hi, so I want to get into real estate very soon and ultimately turn it into a full time career, but I am making ends meet working full time 10am-7pm Monday-Friday. I want to keep this job while starting up in real estate until I'm confident in going all in to real estate. My concern is that I am only available at nights, early mornings, and weekends. Is this a problem for someone like me trying to build a base and foundation starting off as a real estate agent? Any recommendations? Thanks. [link] [comments]  |
| Owner offering to sell house to us Owner Finance. Need some advice. Posted: 02 Jul 2020 01:24 AM PDT A close family friend was offered to buy a multifamily house where he was renting a part of for over 10 years. He asked me and my father in law if we were interested in buying the house with him. The owner is an old lady and owns multiple houses. I believe she wants to sell because of the stress/personal health problems. The house shes selling is a bit old and needs some work done. As of right now, all 3 "houses" are being rented out. I dont really know much about real estate and we're meeting up with her tomorrow. I need some advice on what questions to ask her. The property assessed value is 950k. Do I need to make a contract with her? What would happen if she passed? Any information would help greatly! Thank you. Forgot to mention. This property is in Honolulu, Hawaii [link] [comments]  |
| Considering relocating to another state...noob here Posted: 01 Jul 2020 09:35 PM PDT Hi all. I apologize if this question is stupid. I read through other posts and did some looking online but not really finding what I'm looking for. Any help would be greatly appreciated. Also, apologies if this question doesnt belong on this sub, but guidance to the correct place would be helpful. We are looking to relocate to another state. We know if we sold our current home we would have a decent amount for a down payment that would either put us around the same monthly payment or possibly cheaper, but for a bigger place for our growing family. Additionally, we both have jobs that COULD allow for quick employment (never guaranteed I know though). Its also possible that I can transfer with my company but it's not 100% known yet. Do people doing this, typically rent first? And then look to buy later after having the needed employment history? Are there any instances where people are able to buy a home but not outright (and here is the stupid part of my question)? I'm not a complete tool I promise, and maybe I'm overthinking things so it's not clicking. But basically looking for advice on relocating. Obviously holding employment ahead of time is ideal...but any options on buying a home if that doesnt pan out immediately? Maybe I'm flawed in thinking people move after selling, and can buy, but without lined up employment? Just seeing if there are any options. Of course our goal is to be employed before moving...but even then...do people typically rent until they have a few months of pay stubs? Sorry if this is a completely noob question and I'll admit it is. But like I said, I think I'm just getting overwhelmed and would appreciate any advice. Thanks for your time. [link] [comments]  |
| How do you determine the best offer to make? Posted: 01 Jul 2020 03:32 PM PDT Asking....since I'm going to look at a house tomorrow and it is the only one I've liked and been excited to see. It already has an offer on it sight unseen by someone else. So, given that info...what do I know to do to make my offer better if I like it? This is a pretty lower priced market but things are getting snatched up lightning fast. House is listed for 199999. [link] [comments]  |
| Under contract and waiting for the current tenant to move out by closing Posted: 01 Jul 2020 05:21 PM PDT Our offer was accepted early June with a July 30 closing date on the condition that their current tenant moves out before closing for inspection etc. The tenant is renting the unit month-to-month with no lease. Was told the seller is offering $3,000 (imo not much) for them to move out before their 90 days notice to vacate (DC law), but I don't know the details on their offer. Asked for an update from my realtor and their listing agent came back "We don't think the tenant will be out by July 30 and they have 90 days, but hopefully they'll be out before". I wonder how proactive the seller and is trying to encourage the tenant to move out as they are enjoy collecting $2,000 in rent per month. Really this is also a vent as it's out of my control. Feels like I have no leverage here and interest rates could rise in the meantime which is a stressor. Anyone been through this before? Should I have included something else in the offer for leverage? [link] [comments]  |
| Posted: 01 Jul 2020 06:43 PM PDT I have a multi-family property that an owner is willing to sell to me for $100k (off-market). The property needs a decent amount of work but the seller is motivated to dish the property because of family issues. There is solid market data to support that the property's ARV will be around $225k. Based off preliminary estimates, the rehab cost will be roughly $50-60k, barring any major setbacks. I do not have enough capital on hand to buy the property in cash or enough to finance the rehab. I do own real estate and I work as a commercial appraiser so I am familiar with development deals. I am considering an FHA 203k to finance the entire project. I am also considering private money to complete the project. I would like to hold the property long term. Do you have any suggestions for financing a deal like this? All suggestions are welcome. Thank you. [link] [comments]  |
| Flat roof replacement cost? [Chicago] [First time homebuyer] Posted: 01 Jul 2020 06:26 PM PDT I've recently went under contract for the purchase of a 2 flat in Chicago, Humboldt Park area. I haven't closed but it's under attorney review. During my initial viewing, the ceiling on the second floor had a water stain about 3 inches in diameter "oval shape" but no leaks. The seller's agent informed me that the roof was repaired but needed to cleanup the ceiling. Fortunately it rained a couple days prior to my home inspection and luckily, the tenant was in the house and provided some more details. During the inspection, the original stain was still there but now I noticed a water stain line about a foot length from the water stain. But not easily visible or very wide, maybe a quarter inch wide. I asked the tenant if she can offer some history. She said it only happens when a big thunderstorm "HEAVY RAIN" hits, and they usually fix it right away. I suppose the management company. She also pointed at another area in the front of the house that has a leak. She also mentioned, it happens about 2 or 3 times since she's lived there. Long thread for a simple question, hahahaha. I'm almost done 😁 My attorney is working out a deal where the seller pays for the cost of replacing the roof. I did tell her I may consider going 50/50. My question, how much is it to replace a 2060 Sq Ft flat roof? A high and low figure would be great, I understand there are a lot of factors at play. I'm estimating $20k. Also, can I still back out if the seller and buyer cannot agree on a resolution? Do I get my earnest money back? Also, there is no history of the last time the roof was replaced. This leads me to believe that it has never been replaced and the seller is not disclosing any info, so he can get a fat check. Thank you in advance for any advice or opinions. [link] [comments]  |
| I’m looking to buy a house and my coworker is selling hers - too good to be true? Posted: 01 Jul 2020 06:07 PM PDT Hello All, My fiancé and I have talked about buying a house for over a year now and have finally started to look the past couple weeks. I was talking to a coworker today about looking for a house, and she told me that she and her husband are selling a house that they bought for their son while he was in college - the son dropped out and now they will be selling the house. They have not listed it yet. She's going to let us come look at the house on Friday and so far it seems great. It's in the area that we are looking, the price is great, and I was able to look at the Zillow listing from when she bought it in 2017 and it looks promising. My question is - what should I be worried about buying a house from a coworker? She said that if they are able to sell it to us without listing it, they can come down on what they would have asked for as far as the price. She bought it for $50,000 in 2017 (this is rural Appalachia and it's a small house - don't be alarmed at the low price) and has done renovations. She is talking about $79,000 (which is still very good - probably the lowest price I've seen for something that didn't need a lot of work done). Is it possible to do this without a realtor? On top of that, my fiancé and I only have about $5,000 to put down right now. We had planned on asking the buyer to pay the closing costs, would that still be an option? How much will an appraisal cost? I'm sure I will need to pay for that as well. I guess I'm just feeling around if this is a bad idea? I'm really stopping myself from getting too excited so burst my bubble and tell me all the things that could go wrong! [link] [comments]  |
| Posted: 01 Jul 2020 11:17 AM PDT Hi everyone, I understand this is a bit outside the norm but two friends of ours, my fiance, and myself have been considering buying a duplex after both of us couples were looking into individual one family homes before. We're all in our mid to late 20s and want to get out of the rent trap as soon as we can but after talking about this together none of us are in a hurry to own our very own homes and frankly we all get along really well which is where the idea of a duplex has come up. We don't want to have a fully communal living situation but sharing things like laundry machines and a yard really doesn't bother us at all and would likely allow us to live more cheaply until we're all a bit older and start to have families. We would likely have one other friend renting in our friend's half if we could find a house that that works out in. My fiance and I are much closer to having enough saved for a down payment on a single family house, we were planning for around $200k. The duplexes we see that seem around that quality are about $300k to $350k in our area, so of course we'd need to save more than before but considering our friends are also saving that puts us quite a bit closer. Still I expect myself and my fiance would be putting in the bulk of the down payment. That's where I'm left trying to find out how people in these situations figure out an equitable way to handle the differences in what is being put down for the down payment and also differences in income and credit. I have the best paying career out of the group and my credit rating is excellent, which is something I would hope to leverage with a mortgage lender but is all of that just moot when it comes to a situation like this? I also want to protect our friends in the event that something happens and we can't fulfill our obligations. Part of me feels as though it would be the easiest and safest to buy a duplex ourselves and rent to our friends but I'd really like for them to build equity through all of this too. I'd really appreciate any insight or direction anyone might have for something like this. We're not looking to do this right away, the soonest might be a year from now, but we all want to see if we can have a clear plan in place to give everyone goals on how to set ourselves up for it. Thanks! [link] [comments]  |
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