Just signed our 2.75% 25 year refi. Real Estate |
- Just signed our 2.75% 25 year refi.
- Did not realize how expensive it is to sell a house!!!
- Closed the 31st first time homebuyer
- Just closed on our first house!
- Ever had a seller cry when selling their first home?
- Am I doing my due diligence on land purchase?
- Real Estate accounting software?
- Selling a rental property that was acquired after death. What to expect? (California)
- Jumbo Loan Refinancing - Any broker/ bank recommendations?
- Buying a fairly new house without permits.
- Roof color for resale value
- Builder put up wrong siding and I hate it !!
- Sellers refusing to take care of rat problem?
- My realtor got skittish when I told her I was shopping around for representation. She asked me to sign a Buyer Service Agreement before the first showing; I declined to sign anything but decided to work with her and texted I’d go with her as my exclusive agent but then we met and she’s AWFUL!
- Regret selling
- Should I view home purchase as primary residence or future rental?
- 3 vs 5 percent down to hold onto cash
- How to determine if agent is good
- Selling condo n san diego thinking of getting another one
- Your Storytime: HOA Concerns and Questions
- Displaced for about 4 weeks, any recommendations?
- Vacant Lot Selling
- Gifted earnest money. Is it allowed on conventional loan?
- As a buyer, do I pay realtor fees?
| Just signed our 2.75% 25 year refi. Posted: 04 Sep 2020 05:12 PM PDT Totally excited. Dropped from 3.85 to 2.75, knocked a year of the mortgage, and eliminated PMI. We'll save about $200 a month and be done a year earlier. Cash to close was $450.xx. Took 30 days. Because it may be asked, we used Mutual of Omaha via the Costco mortgage service. They waived appraisal and listed the value as an average of Zillow, Trulia, and Redfin. Underwriting fees were $350. It was all online / DocuSign, and only interaction with a person was today to sign. We did it outside to be safe. They we're attentive and always available. Absolutely recommend it. [link] [comments]  |
| Did not realize how expensive it is to sell a house!!! Posted: 04 Sep 2020 06:38 PM PDT I am the seller and paying 31K in closing costs (22K for RE agents, that was NOT a surprise). WA state. Every transaction involves title insurance. Almost 6K in deed transfer fees. The HOA wants 250 dollars to transfer from me to buyer, with no break in dues. [link] [comments]  |
| Closed the 31st first time homebuyer Posted: 04 Sep 2020 08:24 AM PDT 3.00% rate, FHA, DPA, wanted to say thanks for all advice put on here. It does make a difference having knowledge of stories and things to look out for as we went through the process like what matters and what is an easy fix. We put in our 4th offer, accepted June 5th and we had two month escrow (if that's the right term), things got scary near the end as everyone relaxed thinking it was done but it got done! We even got a little equity in from our offer ^ had all the contingencies and house exceeded everything, currently tore up all the tile and putting in laminate and new carpet :) thanks again all! [link] [comments]  |
| Just closed on our first house! Posted: 04 Sep 2020 02:06 PM PDT Been awesome to watch some of the rates you all have been able to get. We finished with a 2.625% on a 30 year (credit about 740) and about 5k on closing costs! Looking forward to the move in process. [link] [comments]  |
| Ever had a seller cry when selling their first home? Posted: 05 Sep 2020 02:23 AM PDT Just curious what kinda of emotional reactions realtors have observed from home sellers? [link] [comments]  |
| Am I doing my due diligence on land purchase? Posted: 04 Sep 2020 09:13 PM PDT I found a 15 acre plot and hoping to buy it and subdivide to build two very modest homes with a friend (with the help of each other and our networks of people who do this stuff for a living). We are in talks with the seller/land owner who is doing this through private sale and we are going to have a lawyer write up a pns after we come to a number. The seller bought this land for about 45% of the assessed value and about 15-20% of what comparable lots would go for in the area (he said looks for opportunities where people just want to get rid of their raw land because they are done with it. He got it from two out of state family members who got it from their dad before he passed.) It's a great deal for the area and we are local and want to jump on it. I just don't want to miss something big. After all, the deal is really good and it makes me want to be cautious. The seller provided a survey done a few years ago (by the owners previous to him) that shows three potential lots with possible house sites, leach fields and well locations. One site is complete with an approved septic plan (and the other two sites have test pits of same depth dug). We have a septic guy coming out to do his own site walk to help us know if these plans are still viable.. I know we want to make sure the title is all good (been to the clerk for the deed, verified ownership) stuff like septic plan (which is a big deal here) and water can be drilled, but i'm not exactly sure where to look to find out that we are 100% getting the timber and mineral rights. When I have the lawyer write a pns, that does not mean they are finding that stuff out, correct? Or if I want the pns to include contingencies like timber rights must be included, does the lawyer find that out? I have the deed, I just don't understand if that is supposed to be revealed in the deed or if it can be hidden. The town has no zoning, and very few restrictions in general. I am also curious to know what the best route would be to determine if the land susceptible to erosion, as it is on a slope.. This is definitely something I keep thinking about. I am interested in potential due diligence I might not realize I am missing. Thank you for any comments etc. This spot feels very right, and we want to do this the right way, but not miss our chance to make an offer. [link] [comments]  |
| Real Estate accounting software? Posted: 04 Sep 2020 10:01 PM PDT Looking for recommendation for decent accounting software for real estate, preferably a free one. Thanks in advance! [link] [comments]  |
| Selling a rental property that was acquired after death. What to expect? (California) Posted: 05 Sep 2020 03:35 AM PDT Ill keep the explanation short. My father passed away last year and he had a duplex with the title only in his name. My mother just had the title officially transferred to her name. If she were to sell, will the capital gains be determined from the time the title was changed to her name, or from the time my father acquired it? [link] [comments]  |
| Jumbo Loan Refinancing - Any broker/ bank recommendations? Posted: 04 Sep 2020 04:54 PM PDT Hello, My primary residence is in Novi, Michigan which I bought last year for around $630k at 4.5% mortgage rate with 10% down payment. With the low rates, I would like to refinance but no bank or broker is giving me the time of the day as it is a jumbo loan, unless I bring my total loan to $510k. Right now, it is $565k. I was wondering if anyone has recently refinanced a jumbo loan and could recommend their bank or broker because I haven't been able to find anyone. I have tried Chase, TD Bank, and Wells Fargo. Also, the broker I used last year is no longer doing jumbo financing. I will appreciate any suggestions. Thanks! [link] [comments]  |
| Buying a fairly new house without permits. Posted: 05 Sep 2020 12:38 AM PDT I've already placed an offer on this house, before I found out that most of it was built without permits. The house was built in 2018, and it looks like the first 600 or so square feet were built with permits. The remainder of the house was not. The house is almost 1800 square feet in total. It wasn't listed with any kind of discount, despite most of the house not being permitted. The house is gorgeous and I really love everything about the property. Everything seems to work as it should, minus the hot water knob on one of the sinks. My lender doesn't seem too concerned about the lack of permits. My realtor has asked the seller to retroactively get the permits and to pay for the septic inspection. It looks like the septic is going to be big enough for the property, since the family of 4 who have been living there has never pumped the septic tank. Also, the same septic tank was placed on every lot before the houses were built and other houses in the neighborhood have the same number of bedrooms and bathroom as this one does. It's rather obvious that this was done intentionally, as the "original" house does not have a kitchen or living room. The tax assessment of the property is about a quarter of the listing price. Additionally, the seller put a gas stove in the kitchen just for the listing pictures, even though there is no gas in the house. My intention is still to buy the home, and I have to move within the month. I'm looking for advice on what to do to ensure that the home is properly permitted. I would hate to run into issues with insurance, the loan, or have to tear out the majority of the home. I live in a blazing hot market. The house is in a small town just outside of a big city in Texas. The inspection is this week. Edit: Clarifying information. [link] [comments]  |
| Posted: 05 Sep 2020 12:23 AM PDT Hi, I am wondering if roof shingle color matters for resale value. The house color can make a difference. But does roof color? I'm guessing it's best to stay neutral? (grays, browns, or some combination)? [link] [comments]  |
| Builder put up wrong siding and I hate it !! Posted: 04 Sep 2020 08:28 PM PDT So I'm 30 days away from closing on a new build SFH. Siding was delayed for some reason and is just now going up. I rode by today and nearly had a heart attack when I saw the siding that had been put up. The sides and back of the house are a cape cod gray vinyl siding which is fine but the whole front of the house is a charcoal smoke color with the vertical board and batter siding. It looks hideous! Also, the siding they chose for the front looks NOTHING like the houseplan or rendering. It is obviously the wrong siding. On top of that I hate the color. Is there anything I can do? What sucks is this is considered an Inventory home but I feel I was misled on what it would look like. I am willing to walk due to this, but don't want to lose my EMD of 5k. Can builders change the color of inventory homes or is this unchangeable due to permits that were placed? Is exterior color even permitted? So devastated right now. [link] [comments]  |
| Sellers refusing to take care of rat problem? Posted: 04 Sep 2020 08:20 PM PDT We just finished the inspection process on our first house and found that there is a huge rat problem in the attic of the house, to the point where the AC ducts and attic insulation have been eaten through as well as some of the wood outside. The rodent inspector said it'd be a 2000-4000 fix depending on if we replace the insulation or not. The sellers are claiming they didn't know about the rats (even though there were traps on the roof) and are now saying they don't want to credit us anything or do the repairs to seal off and clean the attic. The property itself already has some weird things with it (shared driveway, bedroom converted into a closet, etc) so we were the ONLY offer they had gotten in 60 days. Am I crazy for thinking we should be credited something especially for the rodent issue? Or am I just a naive first-time buyer who has no idea what they're talking about? Wondering if it would just be best to walk away or deal with it. [link] [comments]  |
| Posted: 04 Sep 2020 11:44 PM PDT I hadn't met her and she'd maybe put in 1-2 hours of various emails and conversations with me and my lender. I was suggested to see another realtor which I set up. I felt compelled to be transparent and told her I'd set up meeting with a realtor to just figure out if I had a preference...market research and shopping around. Nothing surprising or offensive there. She got off the phone and sounded in fine spirits. I then sent her a house I was interested in seeing (at this point we'd never done a single walk through together) and she responded in a text that she would email a Buyer Service Agreement, essentially locking in exclusive representation. I proceeded to meet and show two houses with the other realtor. At first I sensed there could maybe be friction but ultimately she was knowledgeable and very, very efficient in pointing out red flags to me, as a newbie. So, with the original agent and I set up a Skype call to "get-to-know you" which made me really like her. She seemed to have an energy that I liked! And I feel stupid for feeling pressure so early, despite knowing it was quite normal to show multiple homes (even in COVID) to people who may end up being your client but ultimately, could be a loss. So because I felt this FaceTime "compatibility" I texted her that that I really liked working with her and I was going to "choose" her as my "exclusive agent." Long story short, we saw our first round of houses today and we were like oil and water. I couldn't stand her lack of guidance or appeal and she seemed very irritated and dodgy of my many questions. Could this text backfire on me?Are realtors burned enough to invest the time and money to pursue something like this as a contractual agreement? Would it even stand in court? Should i not even think twice before bailing on her and finding someone else – like the other more knowledgeable and informative agent who was very helpful, but I took for granted? [link] [comments]  |
| Posted: 04 Sep 2020 10:12 AM PDT My father once told me his biggest regret was selling his properties to purchase another and wished he had just kept them and rented them out. Does anyone else feel this way after selling? I'm in a situation where I can get top dollar for my condo to upgrade to a single family house with a yard. My goal is to invest in real estate but I feel like I F'd up buying a condo as my first investment with an $600 HOA. If i were to rent I'd get about $2600/month and my mortgage is $2,700 + HOA . I'm torn if I should let it go or keep it and stay. I live in Los Angeles. Thanks in advance! [link] [comments]  |
| Should I view home purchase as primary residence or future rental? Posted: 04 Sep 2020 10:36 AM PDT I'm looking for a home in a very strong seller's market. I have enough saved to buy cash and I'm leaning that way so my offer will be competitive. It will be my primary residence at least for a couple years but possibly longer (I have moved 8 times in 24 years so that seems to be my pattern). Since rates are so low, I wonder if I should pull out about 50% after closing. My concern is if I wait to take a loan on the home in say 3 years I'll miss out on record low rates. I would use the money to put down on another home and that would be a true investment property. Just looking for outside opinions. Should I refinance right away and make another investment or just enjoy a paid off property for awhile? Are there any disadvantages to doing financing after closing cash on a property? [link] [comments]  |
| 3 vs 5 percent down to hold onto cash Posted: 04 Sep 2020 06:49 PM PDT First of all, yes, I know 10 or 20% down would be better. But we have 5% down for a house we're under contract on and are considering putting 3% down instead so we have flexibility to buy some things for the house in cash as soon as we get in (fridge, riding lawn mower, any unexpected home improvement costs). Our thinking is that it is better to pay for these items in cash rather than put it on a credit card. But I am not sure with the amortization schedules if my reasoning is sound there. Does it make sense to do a smaller down payment to keep a little cash on hand? [link] [comments]  |
| How to determine if agent is good Posted: 04 Sep 2020 11:52 AM PDT When buying and selling a property (currently in process of) how do I determine if the agent is good. What can I expect of the agent and what type of things fall under my responsibility? Selling a condo and current agent asked me if signs are allowed. After telling her I don't know, she just replied with 2 words in an email "condo documents." I read through the documents and have no problem doing some research and leg work. Just want to see if that was knowledge I, as the seller and owner, needed to know. Thanks for all advice. [link] [comments]  |
| Selling condo n san diego thinking of getting another one Posted: 04 Sep 2020 04:24 PM PDT i have a condo in escrow for sale for 410k with about 70k left on mortgage. was going to sit it out for a bit and see what is going to happen with the market but saw a condo i really like for 490k and thinking about making an offer w about 130k down and 30 year fixed. my friends think i am crazy for doing so but wondering what folks on here think. I think interest rates will remain low for years but dont know where prices will go in the short term. eventually i think due to inflation it would be a good investment [link] [comments]  |
| Your Storytime: HOA Concerns and Questions Posted: 04 Sep 2020 06:27 PM PDT Hey everyone .. long time lurker who will be buying a home soon. As a first-time homebuyer, what part about HOAs should I be nervous about? I want to hear your story about what you wish you knew before you bought your first home/condo into an HOA. There are lots of horror stories about HOAs, are there any good ones too? [link] [comments]  |
| Displaced for about 4 weeks, any recommendations? Posted: 04 Sep 2020 10:39 AM PDT I rented out my latest project house and was planning on moving to a different state, but I was asked to stay in town for work through this month. I currently have no where to stay now, which is weird seeing as I own 3 homes. All the rentals I can find require a min 6 month lease (understandably), and it is a small town with very few apartment complexes that also require minimum lease terms. Any recommendations on where to stay? Hotels are expensive. [link] [comments]  |
| Posted: 04 Sep 2020 04:29 PM PDT What are some suggestions for selling large quantities of vacant lots of land? All very small, mostly under an acre and residential. I would like to sell them in one or several package deals rather than deal with selling them all separately. [link] [comments]  |
| Gifted earnest money. Is it allowed on conventional loan? Posted: 04 Sep 2020 08:12 PM PDT Hello. I recently made an offer on a home and the seller accepted on Thursday night. The agent told me to download an app for the Title Company earnest money deposit. I don't have any checks as I haven't used them for anything in about 10 years. I couldn't get to the bank on Friday because they were closed because COVID to do wire transfer. So I had my mother download the app and use my credentials to take a snapshot of the check. Title Agency said it was fine but needed gift letter which we both signed. Then mortgage guy calls and says he insists that I do it myself through wire. Again banks closed and don't open until Tuesday (past 48 hour limit). Although he insists wire from my account, he says it's possible if my mother submits letter and gives 2 months bank statements. Then I call my agent and explain. She says isn't sure and says if there are any problems then she is going to put the house back on market. My mortgage guy says we can use mom's check now then do wire next week. I call bank and no answer. They cal me at about 1:30 pm and say that I can't do wire transfer over phone for personal accounts. I explain they know who I am and my family had been with this small bank for 20 years. The double check with manager. Call me back at about 1:55pm and say ok but the cutoff is 2:00 pm and they can't do it.l today. At the end everyone seemed ok and that the gift money is fine. Mom did gift letter and gave statement and gift letter. My head is running around with all things that can go wrong. I keep thinking the agent doesn't like what's going on and will pull the deal on a technicality if they got a better offer. I've read various answers online to the earnest money as a gift. If read that it's allowed in FHA but is a no no on conventional. I believe mine is conventional since I'm doing 20 percent but it is in fact my first time buying a home. My question, can the agent pull the deal if earnest money was paid by gift? Again, everyone was ok with it and all gift docs were signed but my question is could she if she had an incentive to do so? [link] [comments]  |
| As a buyer, do I pay realtor fees? Posted: 04 Sep 2020 08:05 PM PDT I am selling my investment property and using the money to put a down payment on another home so that I can start a family. In my agreement it states I'm paying 6% of the purchase price and it's being split by my realtor and the buyers realtor, no big deal. I live in Florida and initially I thought that the SELLER is who pays for the realtor fee's, and the BUYER just has to worry about closing costs. My dad seems to think I'm going to owe my realtor another 6% when I buy a home... and my realtor won't get back with me fast enough so maybe you guys can give me an answer. Do buyers pay realtor fee too? [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