UPDATE: [FL] Adjacent lot to my property is occupied by a murderer/meth addict squatter, and her property taxes are past due. What can I do? Real Estate |
- UPDATE: [FL] Adjacent lot to my property is occupied by a murderer/meth addict squatter, and her property taxes are past due. What can I do?
- So I was doing my daily house hunting of homes I’ll never afford in Beverly hills and I have one question
- Tomorrow is closing day. Buyer is backing out over a leaked garbage disposal.
- What are the most common ways a house can fall through between an offering being accepted and closing?
- Agent did not disclose relationship with closing attorney (MA)
- What do you consider an excessive amount of paint left behind?
- [CAN-BC] Home inspection / furnace issue. Advice appreciated!
- House now has water damage - 6 days until closing
- Pros and cons to HOAs
- Seller already have house inspection report
- Agents/brokers, from what you are seeing in your area, why are people moving?
- [New York] What to do about a piece of land you own in a neighborhood? Want to sell... What should I be doing?
- My wife is being told she HAS to end her paternity leave in order to be approved for our loan to buy our first home. What do we do?
- (seller) House Appraisal came in low!!
- Points on first home?
- Perfect House, Meh Location
- First time buyer - torn on offer
- Title company made a mistake and now we owe $5k
- Way overpriced house
- New home build - questions about earnest money and deposits
- I made a bad long-term lock decision on new construction and now I have to refinance right after closing. What's to stop me from jacking the rate upwards 2% to collect a huge credit and then refinancing a couple months after closing?
- Seller never pulled permits for remodels
- Rocket Mortgage Screwed Me...
- We had an inspection done on our house today. It did go well.
| Posted: 05 Aug 2020 02:25 PM PDT My original post on this subject is now nearly 3 years in the making, but the property just sold at auction last week so I thought I'd share what I learned. The short version is we had some very trashy and disruptive neighbors squatting on the property next to our home, and we discovered their property taxes had not been paid since the original owner died in 2016. So after a few months of research, a four-hour online class on tax deed auctions, and a $200 title search, we learned that the rights to the property could be purchased in an online auction run by the county tax office. You have to have your max bid in liquid cash ready to go if you win the auction, but there are certainly some bargains to be had. Anyway, after watching the auction calendar for over a year, the property finally appeared on the schedule, and the auction took place last week. The property had an appraised value of ~$45K, and the bidding starts at the simply whatever is past due on the taxes (less than $3K in this place). The auction is run by a third-party company in partnership with every FL county, and it works almost exactly like eBay. Unfortunately, we're small-timers and our max bid of $10K was immediately squashed--this $45K property ended up selling for $25K and the new owners showed up that very same day to start clearing the way for new development. So despite the anticlimactic finish, we learned a ton about tax auctions and will be fishing for more in the future, once we have a bit more liquid cash to play with. Sorry for the long post but I got a ton of requests for an update and I figured this might be of use to at least one other person out there. Thanks for reading! [link] [comments]  |
| Posted: 05 Aug 2020 07:23 PM PDT How are there so many homes that are $5,000,000+ and who lives in them? I wanna know what jobs these people have or what they did for all this money.. obviously 90% of athletes can afford these homes but it's not only athletes or actors who live in these homes. I was thinking maybe doctors and lawyers but they make only in the couple hundred thousand range. How is that enough to buy a $5,000,000 home? Are they all business owners? CEO's? There are hundreds and thousands of these homes Its just mind boggling. The average household income in Beverly Hills is only $200,000. ??? My sister and her fiancé make a combined $300,000 per year and they said they had to stretch their pockets for their home that was only $830,000. What gives? This is just so confusing to me. It's not only Beverly Hills. Same goes for Greenwich ct, rich parts of Miami, etc. who are all these people? Do they just save money for 10-15 years and do a fat $1,000,000+ down payment? Are they all rich through stock market??? [link] [comments]  |
| Tomorrow is closing day. Buyer is backing out over a leaked garbage disposal. Posted: 05 Aug 2020 07:55 PM PDT Hello everyone, Tomorrow is my closing date for the house. I already signed the documents and buyer took little time to sign for it because he has not got his money from lender until yesterday. They came to see the house yesterday before the closing on their side but they claimed that house is not completely clean and emptied out. Also they claim two of my sinks are leaking and my disposal is not working properly. They want me to be responsible for those things even though seller purchased warranty for the appliances also covers garbage disposal problems. Before I left the house and When I asked my agent whats need to be done for closing she just hit me with two words saying "broom clean" and she hasn't gone through anything with me about "how to leave the house during closing" even though that was my first time selling a house and she knew that already. Now they are saying without I fix those issues (sink leaking water in bathroom and disposal dripping water when faucet is used, nothing really major) they won't close it. At this point I do not know what to do. I am really pissed that my realtor did not inform me about this when she was the only person to give me information about how to leave the house pretty much. Can I have your guy's opinion about what steps I should take. Im very inexperienced about it and obviously I got no help from agent even though shes getting a cut. Do I need to reach my agent's company and talk to it with her supervisor? Is it even worth it ? It was a terrible experience with that buyer was two weeks late on loan process and now with this stuff going on. Should I go ahead cancel everything and then put the house in a market with a new agent ? Your opinions really matter a lot to me at this point. I appericiate it. [link] [comments]  |
| Posted: 05 Aug 2020 08:23 AM PDT My offer was accepted a couple weeks ago & I'm getting excited for closing. I just want to make sure I'm not missing anything, so what are the most common ways it all falls through? [link] [comments]  |
| Agent did not disclose relationship with closing attorney (MA) Posted: 05 Aug 2020 01:21 PM PDT Last week I closed on a property. The closing attorney was put in touch with me via my agent. I told her at the start of my search my friend is a closing attorney and I would like to work with him. My lender had reservations about that and strongly suggested working with their attorney. In the interest of saving time, I said I would use the mortgage companys' attorney. A couple days later I received an email referencing my offer from my agent saying "Your attorney, Sean, wrote to the other attorney asking..." I assumed she meant the attorney from the mortgage company. This was her referral and was not disclosed to me. Had I known I would not have worked with him. Everything went fine at the close but I would have rather the business went to my friend. Now closing was a week ago and she needs me to sign a disclosure that I was made aware of her referrals. Should I just sign or escalate this? Thank you for any advise in advanced. I purchased in MA if that helps. [link] [comments]  |
| What do you consider an excessive amount of paint left behind? Posted: 05 Aug 2020 06:57 PM PDT We've just taken possession of our new home. It's 3400 square feet. I found 43 cans of paint just after our final walk through. Some are huge, some are smaller samples. Some you can tell were never used (they have a note on them that they are the wrong color) and are completely full. Some were colors the sellers later painted over. About 50% are labeled. The sellers have been renting back from us for the last month or so, and there is money being held back in escrow to cover any potential problems. We've found a few other small issues -- the doorbell is not working and a piece of countertop is unglued. To me, these are all kind of minor and not big enough to raise a fuss. But add in the paint and I'm starting to get ticked off. Does this seem excessive to you or am I just being petty? [link] [comments]  |
| [CAN-BC] Home inspection / furnace issue. Advice appreciated! Posted: 05 Aug 2020 11:11 PM PDT Hello, My wife and I are in a contingency period right now. It ends on Friday. We just put an offer in on a townhouse. We got an inspection, and the inspector said everything was fine, however, he recommended that the furnace be replaced because it was from 1980 and original to the unit. It had some rust, but worked fine. However, he said it had a high likelihood of failure in the near future given its age. We then asked for a 4k discount in the total sale price of the home to cover the cost of replacement. We thought that was fair given we have not come down in price for any other issue. The sellers then went and got their own inspection, and essentially sent me a report saying "the furnace works fine. No discount". My issue is that I was asking for a 4k reduction because the furnace was BROKEN, I was asking for a discount because it was GOING to break down very soon, and had a "high probability of failure" according to our inspector. I'm a little miffed they got their own inspection, but shifted the reasoning to justify their sale price. Do I have any legs to stand on? Or am I in the wrong here [link] [comments]  |
| House now has water damage - 6 days until closing Posted: 05 Aug 2020 09:42 PM PDT In Alberta Canada. Have a questions about potential risks or concerns I should be aware of before we move forward on a deal. We are 6 days until closing on our new home. We received a call from our realtor that the home we purchased had a leak from a water line over the weekend and there is damage to the hardwood on the main level, one section of lower cabinets/wall, basement walls and carpets. We viewed the property and seen the damage first hand and am wondering if anyone here has ever ran into an issue like this one. I'm wondering if we continue to close will their insurance adjuster work with us following the purchase? Will their insurance people speak with me before closing so I can confirm upfront what exactly will be replaced? Is there any risk with me moving forward, assuming that the seller has to have the house in showing condition for us, at some point? And lastly We have been told that the timeline to complete the Reno's is 3-4 months. Is there anything I should be asking the seller for based off that timeline? Thanks in advanced for any advice provided. [link] [comments]  |
| Posted: 05 Aug 2020 04:27 PM PDT My husband and I feel differently about HOAs. I haven't had any bad experiencs growing up with one. The most restriction I have experienced was having to buy a particular mailbox when a neighbor kid mowed ours down. My husband on the other hand, has never lived in an HOA neighborhood and only has heard horror stories about how they can be so interfering and restrictive that it's not worth it. His view is it's my property, I should be able to do whatever I want (and also not be forced to socialize like his friend's HOA does). I try to tell him that not all HOAs are that power hungry and most that I have come in contact with take care of maintenance things around the neighborhood. What has your experience been with HOAs? Is there any way to know if we are buying into a bad HOA before we go through with the sale? What if we can't avoid it like in the case of a condo? [link] [comments]  |
| Seller already have house inspection report Posted: 06 Aug 2020 12:52 AM PDT If the seller already did a home inspection prior to listing their property, is it still necessary for the buyer to still have a home inspection done? [link] [comments]  |
| Agents/brokers, from what you are seeing in your area, why are people moving? Posted: 05 Aug 2020 03:05 PM PDT e.g. percentage from waning a bigger house or something different vs people needing to sell because of job loss or other issue or simply relocation? I know it's anecdotal, but I'm interested in hearing from your experience e.g. my small neighborhood (~60 homes) went from no houses for sale to 5-7 in a very short period of time. [link] [comments]  |
| Posted: 05 Aug 2020 10:18 AM PDT Back in the 80's, my parents purchased a piece of land. They paid $6k for it. It's 80 x 100 I believe. At one point, they got a permit to build on it but they never did. Over the years, a neighborhood built up around it. A few years ago, a couple purchased a house near the land and did some investigating and contacted my mother. He wanted more property space and offered her $2K for it. She said no. We would like to sell it but not for 2K. I know we would have to get an updated survey, but what else should I look into doing? Any advice or tips? [link] [comments]  |
| Posted: 05 Aug 2020 02:55 PM PDT Well, the mortgage company will not allow us to close on our home until she returns to work because when they reach out to her employer for proof of employment.... it comes back saying she is on leave. We just had our first born six weeks ago and my wife has three months maternity leave. I found this article online -- https://www.hud.gov/topics/fair_lending and it seems like this is against the law. What do we do!? We're buying a new build, and going through their lender. Are we screwed? Maternity leave Discrimination Since 2010, HUD has seen a steady stream of complaints alleging discrimination against borrowers who are on maternity leave. In these cases, lenders allegedly denied or delayed loans to working women because they were pregnant or on maternity leave. Sometimes, a lender allegedly treated women differently by requiring women to end their maternity leave and return to work in order to be approved for a loan. [link] [comments]  |
| (seller) House Appraisal came in low!! Posted: 05 Aug 2020 11:36 PM PDT On July 1st i put my house on the market for 240k and i got an FHA offer for $250k within a few days. we have been under contract all month and finally got the appraisal and it came back @ 235k. I think that is low considering how the house market is right now. What should i do? if they offer 250 should they pay 250? [link] [comments]  |
| Posted: 05 Aug 2020 12:18 PM PDT Hello!! I've tried researching how points work but can't seem to grasp it. I'm wondering if you guys could help me point to the right direction. I'm buying my first home. Asking price 266k Loan is 257,050 They have given us two options. Loan is for 30 years conventional fixed. Option 1 interest rate 2.99% closing cost 10806.05 and monthly payment 1945.50 Option 2 interest rate 3.375% closing cost 8441.31 and monthly payment would be 1999.56 I did the calculation on need wallet but can't seem to understand it. Thank you in advance!!!!! Edit: I plan to live in the house for a long time with the family [link] [comments]  |
| Posted: 05 Aug 2020 07:37 PM PDT Remove if not correct sub. Background: my wife and I are in a very competitive market that includes middle class families, investors, and flippers. We've been on the hunt for about 15 months now, had 3 offers rejected, and finally one accepted. Now: the house is perfect, PERFECT for us. Newer (2009) house, 3 beds, 1 bath (a second can be added quite easily), good size backyard, lots of living space for a family of 3, and 2-1 car garages. But... theres always gotta be a but. But its on the edge of a rough, well shitty part of town. Lots of drug deals and shady people frequent the area. But literally the next block over is a not too bad area. We've had our offer accepted and are moving forward. My parents have warned us to think hard about moving to such a rough area. For what it's worth they also love the house and think it's perfect for a new family. My mom said he checked the police reports in the area and there wasn't many. I guess i am looking for some advice on making the decision to pass on the house. At what point does the neighborhood outweigh the perfect house? [link] [comments]  |
| First time buyer - torn on offer Posted: 05 Aug 2020 07:28 PM PDT First time buyer in a high cost of living, urban, competitive market. Looking for about 2 months. Two rejected offers. The second offer was $1k above the accepted offer but the accepted offer waived all contingencies. Saw a house today at 2pm. Offers due at noon tomorrow. The house fits the majority of what we want. Larger lot (5900 sqft) smaller house (1080sqft), driveway, okay location (could be better), quieter street, space for a large shed in the backyard, dining room. That's legit our deal breaker list. The biggest concession though, is next door is a 4 story apartment building. The house is a 1.5 story cape. It definitely affects the atmosphere of the rear yard, which is a pretty important part of the house to us. I wouldn't quite call it an eyesore but it's close. Additionally, I don't love capes. Especially when my area has 100+ year old colonials that are so much more beautiful. This is all kind of beside the point really. Basically, I'm torn on whether to make an offer, which is essentially the question "should I hold out for a house that is a better fit or should I accept that this house is good enough and to find that 'better fit' I could be waiting a looooong time". The second house we made an offer on was a 10/10 and we went all in and it still wasn't enough. So even if the house does exist and does come on the market, there's obviously no guarantee we could even get it. We have no rush to move, lease is flexible. What would you do? [link] [comments]  |
| Title company made a mistake and now we owe $5k Posted: 05 Aug 2020 07:21 PM PDT We built a new home in Utah and closed on it in May. The title company contacted us today, saying they made a mistake and accidentally gave us a $10,000 credit (for not using our own realtor) when it was supposed to only be $5,000. They are now demanding we pay the $5,000 immediately. We don't know much about real estate, but are looking for any guidance anyone has. Are we legally required to pay this even if it's their mistake? Is it possible to negotiate a lower payment? [link] [comments]  |
| Posted: 05 Aug 2020 12:55 PM PDT So my husband and I've been searching since February, we finally have a contract on our current house and found a house we love. I'm still subscribed to my realtor's portal. I saw a house pop up that made jaw drop because of the price because I couldn't see any reason why it was so high. Can anyone tell me why there is such a price discrepancy? Or is the buyer just going with whatever price he thinks he can get and going against his realtor's advice? The house we are buying that will be a comp for the overpriced one Edit to add: I also checked that appraisal district and it is priced 115,000 over the value on appraisal district. I know actual market value is usually higher, but what I've seen is market value being closer to 30k, I understand it might be even higher, but maybe closer to 50k. ETA: Our house is also caddy corner to a playground, and one house over from a pond. ETA: while it says 5 bedrooms on the post, the fifth is actually a game room they have turned into a bedroom, we have a similar game room area. [link] [comments]  |
| New home build - questions about earnest money and deposits Posted: 05 Aug 2020 06:45 PM PDT We're looking at a new home build and the money portion is being explained and I feel like I just don't understand how this works. This is what I was told: $10,000 earnest money deposit Then we pay 10% of the cost of the added upgrades (let's say $100,000 of upgrades) equaling $10,000 upgrade deposit. The house price is $200,000 but since we already gave them $20,000 the new price is $180,000. It sounds like I don't see equity from that $20,000 and now I have $20,000 less to use on my down payment. Am I misunderstanding this process? If any new home buyers or realtors have information I would appreciate your input! We are planning to use a realtor, but it's too late to get one tonight! Thanks! [link] [comments]  |
| Posted: 05 Aug 2020 11:37 AM PDT Highly qualified buyer, new construction, conforming loan. I locked at 3.25% on a new construction home a couple months ago thinking it was a good time. Now I can easily get 2.5%. It's too late to unlock/relock elsewhere. I'm going to be refinancing very shortly after settlement. But what I can do is buy my current rate UPWARDS all the way to 4.5% which gives me a closing cost credit of $12,000. That mortgage rate sucks, but I'll only be bound by it for a couple months before I refinance. Why is this a bad idea? [link] [comments]  |
| Seller never pulled permits for remodels Posted: 05 Aug 2020 02:36 PM PDT Is this a big deal or am I exaggerating? Seller is my cousin, he never pulled permits, added a kitchen, remodeled the other, switched the stove from electric to gas, should I be concerned and ask for money to eventually pull permits? It's a strong sellers market so I am afraid he will say no, should I continue with transaction? [link] [comments]  |
| Posted: 05 Aug 2020 04:06 PM PDT Hey guys first time home buyer here and wanted to get your suggestions on what I should do in this situation. Story: So I applied with Rocket Mortgage in middle of June and during this process, I got pre-approved and everything seemed to be going well she asked me a whole bunch of questions and the most important question was "is this home under construction and I told her not the condo specifically, but there is a condo that is being built right across from the condo i'm buying (different building same HOA) so she just goes to the next question didn't even think about that question until I got a phone call (today) right before closing that they cannot process the loan because of the fact that the HOA has another condo being built, which makes no sense to me because its a whole separate building.... Mind you that the HOA verification took forever and because of that I had to drive to the HOA building to drop off the check for the questionnaire. I was told that we would close on 3 separate occasions 7/30 8/5 and now 8/6 which is not going to happen. I would have been okay with the situation if they told me 20 days before because I would just look for a mortgage company that could do the loan. I don't understand how they can just say everything will be fine until closing and just be like sorry sucks for you. By the way closing date is 8/7...... P.S. I am also the realtor and I have never came across this situation before. TL;DR Rocket Mortgage Sucks or maybe just the officer.. I don't know. Any suggestions would be much appreciated.... [link] [comments]  |
| We had an inspection done on our house today. It did go well. Posted: 05 Aug 2020 06:14 PM PDT So today I am the seller and the buyers had a inspection done. Now my husband does construction and he is electrician. So the inspection come back with a couple of good thing and some that are ridiculous. Some of this stuff was done and done properly. That he said we didn't do. Like nailing the nails down he said we didn't do it right. No ice and water shield. Which we don't need it on our house. We ask three roofers. No drip edge. Flashing vent did it . Again he said we didn't do it but we did. So some of the things is broken siding. Nothing major small little hole in two spot and a crack. So the stuff that does need to be fixed is wood on the porch rot ok now problem. And a door frame needs to be redone. This is just to name a few. We got this information from our realtor. Tomorrow or Friday will get the actual report. [link] [comments]  |
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