A reminder to ALWAYS have a thorough inspection and randomly look under your house Real Estate |
- A reminder to ALWAYS have a thorough inspection and randomly look under your house
- Everyone wants to be a REA.
- Dumb Mistake - Breaking a Lease - Not Sure If I Can.....
- Mortgage Rate Search Engine?
- Uneven 2nd floor and squeaky 3rd floor. Is it red flag?
- To buy or wait (SoCal)
- Feeling down about the process
- Refinance: Received notice that appraiser came by...except they didn’t
- How many days from closing do I receive clear to close?
- Rent to own Georgia
- What should i do with stain on carpet?
- Is the inspection referenced for the assessment?
- Has anyone bought from a home from Zillow?
- Any sites that allow appraisal value search?
- Will a new roof increase the home appraisal?
- First time home sellers - Inspection Question
- Do you capital gains if you use the proceeds to buy another house?
- [CA] Seeking Los Angeles/SFV specific advice on purchasing home
- Central Ohio - what's happening?
- Question for underwriters
- Different loan estimates from broker and lender
- Home inspector caused “damaged” to attic insulation
- Can I utilize a gift of equity if buying my grandparents home as an investment property
- What are the Duties and responsibilities of a licensed assistant?
| A reminder to ALWAYS have a thorough inspection and randomly look under your house Posted: 23 Oct 2020 04:06 PM PDT My client decided to sell the house they bought 2 years ago. They had a guy come replace the flooring and subfloor in the bathroom before listing. I came over to look at the house and talk to them about what our plan was, etc.. I walked into the bathroom and the floor felt weird. The guy was literally still there but he assured us that everything was good. It was the "floating flooring" that made the floor feel squishy... I told my client that they need to have someone come look because something wasn't right. I peeped into the crawl space and it looked like a mess. Sooo come to find out, when they bought the house 2 years ago, they didn't have an inspection. They had a family member look over everything... He said everything was fine... The downstairs toilet had been replaced by the previous owners just before they bought it.... without a seal. So for 2 years they have been flushing the toilet with no ring under the toilet. The entire subfloor and joists are rotten and have to be replaced. This will cost them around 15-20k. Insurance won't cover it because it's considered a maintenance issue that wasn't dealt with. Always get a proper inspection and make it a habit to look under your house monthly. Maybe set a reminder to look any time you replace your air filter. It could save you a lot of time and money in the long run. [link] [comments]  |
| Posted: 23 Oct 2020 08:01 AM PDT When times are good. My FB feed is flooded with spams from old friends from HS that pretty much squabbled the first 5 years our out of school tried to be a REA and flopped. Times are great right now and I see people spamming posts claiming why spend $1500 on rent when I can get you in a brand new cookie cutter, shit build for 0% down, closing costs covered, AKA Rolled into the loan and 30 day closing. A buddy of mine has bought himself an Audi, new truck and a 23' skiff this year alone all off the great commission influx he has. What's going to happen when things go tits up for REA? [link] [comments]  |
| Dumb Mistake - Breaking a Lease - Not Sure If I Can..... Posted: 23 Oct 2020 08:39 PM PDT So I found a really great place to buy. Good price, nice location. I did not expect to find a place so soon but it was (to me) too good to pass up. I started on the whole process and now next week I've got inspection setup and I'm supposed to post a down payment. Closing was/is scheduled for November 30th. Then I remembered my lease. I thought it was month to month but it turns out it isn't. I signed it just last September. I called my landlord and he said he would be willing to keep my security deposit plus one month's rent. I was OK with that but this was just over a phone conversation and now I'm worried he's going to renege on the deal. He's a nice guy (even said how bad he feels about losing me). But what if he holds me to harsher terms like making me pay all the rent till next August? How far (on average) do landlords take these things? I'm really, really worried because I love the place I want to buy. I know he's got the legal right to hold me to the lease but do many landlords do that? Any advice out there? Thanks.... [link] [comments]  |
| Posted: 23 Oct 2020 09:40 PM PDT Is there a site like Priceline or Kayak or Hotels.com but for mortgage estimates? Just put in your info: earnings, credit, etc. and they generate the best rates and options for you and break down the line items. It seems like a big pain in the ass doing it lender by lender and then deciding from there who to go with. I know there are mortgage brokers that can do this but then sometimes you have to pay them at closing. I think I have a fantastic deal right now with an in-house lender thru a builder but don't want to have buyers remorse if I find out later I could've saved more elsewhere. Thanks Team! [link] [comments]  |
| Uneven 2nd floor and squeaky 3rd floor. Is it red flag? Posted: 24 Oct 2020 03:29 AM PDT First time buyer here. There is this colonial 3 story townhome I really like. It was built in 1980s. Basement has a walkout. Dining room and kitchen is on the 2nd floor. There is a dry wall between dining room and kitchen. On the Dining room side, the floor is sagging along the dry wall. Everywhere else seems to be flat. Dining room has wood floor and kitchen has tile 3rd floor has carpet throughout. In some areas, the floor squeaks when I step on them. Are these red flags? How much would it cost to fix squeaky floor on 3rd level and sagging on 2nd level? If I don't fix them, how long can they hold before I absolutely need to fix them? I will definitely have inspection on the house if I were to buy it. Now I am not sure if I should make the offer or not. My realtor doesn't seem to be bothered by these. She says these are common and do not indicate structural issues. [link] [comments]  |
| Posted: 23 Oct 2020 07:19 PM PDT My husband and I have a little over $20K in savings and plan on saving an additional $5-8k before our apartment lease is up next August. My husband believes we should begin looking into purchasing a home but I'm not sure if now is the time to buy with everything going on. Are housing prices expected to drop? We live in Rancho Cucamonga for reference. [link] [comments]  |
| Feeling down about the process Posted: 23 Oct 2020 08:28 PM PDT Hey all, I know there's been a bunch of these lately but I just need to vent. I live in the expanded Denver Metro area and I've been looking for houses for the last 3 months. I got out of the army in December and I've been saving up enough to have a decent nest egg for a va loan with a few contingencies. I've submitted numerous offers up to 25k over asking with a 5k appraisal gap contingency and each time im beat out by price and appraisal gap. It's just so disheartening and I feel like the VA loan isn't looked on well. And from what it seems like the markets just been devouring itself and I feel like I'll never get a foot in the door so to speak. Thanks for your valuable time, I hope you all have a good weekend. [link] [comments]  |
| Refinance: Received notice that appraiser came by...except they didn’t Posted: 23 Oct 2020 04:26 PM PDT Refinancing via Better.com. Appraisal was scheduled for today around 12pm. Was told it would be an exterior appraisal. Received an email at 10:10am from my loan processing expert that "the inspection for [my address] has been completed." I work from home, my wife is home on maternity leave, and we have a Ring doorbell. No one came by; not even a drive-by. The appraisal value is important for us for LTV to avoid PMI. How does this work? Do I wait to see what the appraiser says before I bring this up? [link] [comments]  |
| How many days from closing do I receive clear to close? Posted: 23 Oct 2020 11:42 PM PDT I had a conditional approval last week, and its been 7 days since ive met all the conditions stated in the mortgage commitment. I have 2 weeks left until closing, this anxiety is bothersome. When should i expect to get the clear to close? [link] [comments]  |
| Posted: 23 Oct 2020 11:39 PM PDT My credit is decent, but I'm still working on it. I don't have enough money saved for a large down payment, and was considering rent-to-own. I'm not sure where to start looking because of the RTO horror stories I've heard in the past. I've done some reading and I'm leaning towards an options contract with a percentage of the monthly payments going towards the purchase price. Can someone point me into the right direction? Location: Atlanta, GA (metropolitan area) [link] [comments]  |
| What should i do with stain on carpet? Posted: 23 Oct 2020 07:25 PM PDT I decided to sell my rental property. Tenants left it a mess,anyways. I got my carpet cleaned today looks good,but in one room theirs a big red stain that din't come out,its a bout 4 inchs looks to be some kind of paint. Also,they broke one of the kitchen sink doors. How much of impact is this going to have in selling the house? [link] [comments]  |
| Is the inspection referenced for the assessment? Posted: 23 Oct 2020 10:42 PM PDT This seems like a logical question, but there wasn't any easy answer on Google and my parents can't remember, ha. Thanks for any input on the appraisal process. [link] [comments]  |
| Has anyone bought from a home from Zillow? Posted: 23 Oct 2020 09:56 PM PDT First time home buyer here. We are under contract on a home that was purchased by Zillow from the previous owners. Looks like they came in, cleaned it up a bit, and put it back on the market. Has anyone had experience buying a house from a big corporation like this? How as your experience? This house in particular comp'd 15k under what we agreed to pay. I'm afraid that it'll appraise under the asking price and they'll refuse to come down in price. [link] [comments]  |
| Any sites that allow appraisal value search? Posted: 23 Oct 2020 09:56 PM PDT I've been on several real estate sites, and I'm always drawn to listings where the selling price is hovering right around the estimate/appraisal value. However, so far I haven't found a way to filter by that. Anyone know of a site that allows this kind of filtering? [link] [comments]  |
| Will a new roof increase the home appraisal? Posted: 23 Oct 2020 09:56 PM PDT Like a lot of families, 2020 has put me and my family into a situation we did not expect to be in. We have been renting a home for over three years now and because of COVID 19, our landlord is selling all of his rental properties. We are in the process of buying the home we are in, however in addition to a few minor repairs ($300 worth) the roof was inspected and it needs replaced before closing in the loan. It is being done, but the asking price is increasing by the cost of the new roof (approx $7000). The house was already appraised and came at exactly the original asking price ($86,000.00) There will need to be an additional appraisal after the new roof is installed. My question, do you think that the appraisal will increase to match the new asking price of $93,000.00? I'm very concerned that if it doesn't increase to match we will not get the loan and be homeless. It's an FHA loan through Rocket Mortgage. [link] [comments]  |
| First time home sellers - Inspection Question Posted: 23 Oct 2020 12:50 PM PDT My husband and I are first time home sellers and currently working up to getting our house listed. We've been doing all the little fixes as recommended around the house but recently we noticed a ticking sound in our upstairs bathroom when the sink is draining. After a lot of research and a plumber's assessment later, we've found out that it's simple pipe expansion. No leaks found or anything like that. Our plumber told us that it should not affect an inspection and that it's very normal with PVC pipes. So my question is, does anyone know if this could scare away a potential buyer? We are thinking an inspector will also know that it's pipe expansion but not sure. We also have our receipt from our plumber stating that it's pipe expansion we could certainly provide this documentation. Also, is this something that would definitely need to be stated on the disclosure? I assumed yes, but wasn't sure. Thanks in advance! [link] [comments]  |
| Do you capital gains if you use the proceeds to buy another house? Posted: 23 Oct 2020 08:44 PM PDT Literally no where on the internet will give me a clear answer. I bought a house in January of 2020 and with Covid and everything we're in desperate need of more space. Our home has appreciated significantly just this year. My question i can't get answered is if we take the proceeds from sale and make say 20k do we still need to pay capital gains since we owned the home less than two years if we take that and put it toward a new home? [link] [comments]  |
| [CA] Seeking Los Angeles/SFV specific advice on purchasing home Posted: 23 Oct 2020 03:46 PM PDT After searching basically all year, I've narrowed my search to two homes. We just had a baby last month so keep that in mind when considering the two. One is in Studio City (SC) and the other is in Sherman Oaks (SO). Both are the same sq ft, same price, south of Ventura Blvd, and 4 beds. SC has 4 bath, SO has 2 bath. SO is on a corner lot, on a beautiful, wide street with parking on both sides of the street, and a sidewalk. SC is a narrower street, also nice looking, but parking is only on one side of the street and also located right after a couple of apartment complexes, so lots of cars are typically parked on the street. SC house is one street south of Ventura Blvd, SO is deeper south on a street parallel to Ventura Blvd. SO is on a nicer looking street but you're kind of car dependent but closer to the 405. It is also used lightly as a pass through street by some in the mornings and afternoons as it is parallel to Ventura. SC is very close to the blvd. You exit the freeway, cross Ventura into the residential and it's one of the first few single family homes on the main street. It's a 10 min walk to the metro and 20 min walk to Universal Studios. The school rating for SC are 7 elementary, 6 jr high, 8 high school. For SO it's 7, 6, 6. But we don't know if we'd stay in this house 14 years from now (until our child is in high school) nor do we know if the ratings will stay the same by then. I'm having a hard time determining which house is both better to raise a child in/safer and also better for resale further down the road. We like both houses considerably, and both of us work from home so commuting is currently not an issue for us. [link] [comments]  |
| Central Ohio - what's happening? Posted: 23 Oct 2020 01:20 PM PDT We own inherited family land near Knox Lake, but we don't live in the midwest anymore. We recently received multiple selling inquiries out of the blue and the tax assessment value just went way up after being unchanged for decades. What's happening there? [link] [comments]  |
| Posted: 23 Oct 2020 03:32 PM PDT We are in the process of buying our first home as a primary residence. Underwriters are questioning why we don't want to break our lease. We would have to pay a large amount to break the lease and it's easier for us financially just to pay it month by month until may 2021. We don't close on the house until mid November 2020. Also want to note the apartment is closing to my husbands work and he can't get a transfer for 90 days. Our new home is 90 miles from his work. So it just makes sense to keep the apt. The house loan is only under my name anyways and I'll be at the home full time. I also offered to take my name off the apt lease. Are they going to make a big deal about this and make us break the lease? [link] [comments]  |
| Different loan estimates from broker and lender Posted: 23 Oct 2020 06:55 PM PDT I am a first time home buyer. I submitted "Uniform Residential Loan Application" to a loan officer at a local broker. Origination charges in my application include only these items: - %0 for discount points - $995 Lender fee A few days later I got a loan estimate from the lender (NewRez) that is different from the one in my application. Specifically, it has - $2394 for 1.088% points - No lender fee - Hosts of other items (e.g., title - closing preparation fee, title - survey required by title, etc) that do not appear in my application to the local broker. As a result, total loan costs differ between 3,895 and 5,895. This is the third time I got a loan estimate from the lender that is different from the terms specified in my original application. Every time this happens I asked the loan officer to fix the numbers and he said he would do it, but basically nothing has changed. The loan officer once said that final mortgage disclose would be the same as the one in the original application. Is the broker going to take care of the discount points and newly added fees as he mentioned? Any advice/insights would be appreciated. [link] [comments]  |
| Home inspector caused “damaged” to attic insulation Posted: 23 Oct 2020 06:51 PM PDT Girlfriend is in the process of buying a new house. Had the inspection done and the inspector noticed a couple worrying signs. The biggest one was mold in the crawl space. Sent back a request to fix the mold and the seller responded saying they will pay for a mold test and all cleaning of mold and adjusting the vapor barrier. A little after the seller said he'd fix that they came back and said the inspector caused damage. The damage they noted was to the attic insulation. In the attic the insulation was over the floor joists. The inspector walked on the wood joists to inspect the attic and in the process compressed the insulation. Now the seller is saying the insulation is damaged and the buyer needs to pay over $1,000 to fix the damage caused during the inspection. Don't know what to do now. The inspector has insurance but they are saying the buyer is liable to the seller and the inspector is liable to the buyer. So she would have to pay this and then try to get the money back from the inspectors insurance. I'm doubtful insurance would pay this and guessing they would laugh her off the phone. Was wondering if anyone had any advice? [link] [comments]  |
| Can I utilize a gift of equity if buying my grandparents home as an investment property Posted: 23 Oct 2020 06:48 PM PDT |
| What are the Duties and responsibilities of a licensed assistant? Posted: 23 Oct 2020 06:27 PM PDT Hey, I'm recently licensed and looking to start out as a licensed assistant to learn the ropes. I am just curious as to what that consists of and what a day at work would look like. Any advice and guidance would be much appreciated. [link] [comments]  |
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