I’m so happy our offer wasn’t accepted Real Estate |
- I’m so happy our offer wasn’t accepted
- First time home buyer in a HCOL area: should I get a starter home or go straight for a forever home?
- These power lines a cause for concern?
- Our (buyer) agent didn’t reply back after offer rejected by seller. Can we move forward with another offer without her?
- The suspense is killing me!
- First home financing
- Our agent is a "friend/coworker" and they suck...how to tell them we found a new agent
- How much do leasing agents charge to find a new tenant?
- Question: When to seek a new realtor?
- How do I proceed?
- How do I proceed?
- Accepted a great offer for my place, the inspection is this week, furnace is 46 years old...how to handle it?
- Selling agent won't return email calls or text ( under contract)
- Total Newbie Question - Current home mortgage and relocating to a new state
- What are the signs of a good and bad real estate agent for buying?
- Possession day didn't go well
- How to sell a home for parents when one is in hospice? (CA)
- Possible to get my Residential Real Estate Appraisal License by 18?
- Lots of homes for sale in an area
- Our agent keeps pushing my husband and I to put in our highest offer first instead of bidding, is this right?
- State of the industry?
- How often do agents lie in regards to offers in on a house?
- How do I get into wholesaling?
- Feeling a bit of buyer’s remorse
- Silly appraisal question
| I’m so happy our offer wasn’t accepted Posted: 04 Oct 2020 04:36 PM PDT When we started out the home buying process (first time buyer here) we quickly fell in love with a 2 bedroom, 2.5 bath, 1400 sq foot townhome. It was in an amazing location, almost nonexistent HOA, great school district, and walking distance to a big shopping center with Costco, bars, movie theater, etc. It was listed at $389k and had been on the market for 6+ months. Based on comps we initially offered $360k, went up to $370k and sellers came down to $375k. We decided to walk away. We cooled our search for a bit but after not too long we found another townhouse for sale about ~5 minutes away from the first one. 3 bedrooms, 3.5 baths, 1800 sq feet. Still great location but more expensive HOA and less desirable schools. However this house was built in 2006, first house was built in 1985. List price was $395k, they accepted $388k, but we negotiated back down to $380k after inspection. We've been living here for about 2 months now and on almost a daily basis we talk about how happy we are that we got this house and not the first house. At the time we were crushed, we both cried, felt extremely discouraged (it wasn't our first offer), and considered throwing in the towel. But I'm SO glad we didn't. This house is a MUCH better fit for our family and is honestly the perfect house for us right now. I think we will stay here for a while, and we would've outgrown the first house as soon as we moved in. I just wanted to share this with anyone who is currently feeling frustrated/discouraged/upset because their offer wasn't accepted. Something better is coming. You might not even know it's better until after you buy it and live in it. But keep going, maybe open your search a little bit. Everything will work out in the end. [link] [comments]  |
| First time home buyer in a HCOL area: should I get a starter home or go straight for a forever home? Posted: 04 Oct 2020 08:56 PM PDT I live on the Eastside of Seattle. It's a very competitive real estate market here. I have enough to buy my wife and I our forever home but it's unclear right now whether we will be having kids (medical reasons) so I don't want to buy a huge home if it'll just end up being the two of us. What gives me pause is that the market is at an all time high right now and the real estate prices here have nearly quadrupled in the last 10 yrs. My gut tells me it's gotta go down in the next few years. Should I get a starter home and minimize my losses if I have to eventually sell it in a few years or should I get a forever home now, knowing I'm paying a premium, but being willing to ride out the ups and downs over the next 30 yrs? I'm 36 right now. The price for a starter home would be around $800-900k and for what I would consider our forever home would be around $1.3-1.5 million in the areas we are considering. I've been looking at homes for several months but still can't seem to pull the trigger because I'm always afraid I'm buying at the top. [link] [comments]  |
| These power lines a cause for concern? Posted: 05 Oct 2020 12:57 AM PDT Hi. I am currently looking to place an offer on a home with a series of large wooden power lines (assuming the low voltage, distribution lines) that can be seen behind the home from the yard. I intend on living here myself. I realize I'm only able to afford a place like this because of the discount it might already have, but that it might also affect the resale later. Ultimately, I'm more concerned about my family's health. Should I be? Thanks. https://i.imgur.com/Muxppc2.jpg https://i.imgur.com/DZMmPK7.jpg https://i.imgur.com/vcMCsFP.jpg [link] [comments]  |
| Posted: 04 Oct 2020 12:37 PM PDT |
| Posted: 05 Oct 2020 02:24 AM PDT We put in an offer on a house! It's a rehab so most of my fantasies about the house at this point it how will we remodel this space or that. I'm trying so hard to not get too excited. We put in our offer at asking but there had been a cash offer right before us. As far as I can tell it was probably low ball because they didn't immediately take it. Now our offer is either a bargaining chip for the seller or they are legitimately mulling over their options. We were supposed to have our answer tonight, but they contacted our agent and asked for one more day. They had also contacted our lender to make sure it was a rehab loan earlier today. I believe that was because they know the house would not pass inspection as is. This morning when I woke up trying so hard to hold back my desire to be excited. Now the suspense is so built up! My mantra is " I am not already excited" and "if it doesn't happen it's not meant to be!" [link] [comments]  |
| Posted: 05 Oct 2020 02:14 AM PDT Currently a 19 year old junior in college and I've been able to save 30k with all loans paid off. I plan to work next year as well and hopefully graduate with 35k in my saving so. Would I be able to finance a 4 plex thru FHA as soon as I graduate or does it require many requisites to qualify for it. Would it also benefit me if my dad cosigns with me or is that not a thing when purchasing a home, my dad is lower middle class but does own real estate. Thanks to anyone who can help [link] [comments]  |
| Our agent is a "friend/coworker" and they suck...how to tell them we found a new agent Posted: 04 Oct 2020 09:56 PM PDT We have an agent that works in the same business as me, at another location. I work with his sister in law. They sold my parents their home. They currently are selling our home and trying to find us a new home. We are under contract to sell with this agent and inspection is Tues. This agent does work part-time in real estate. With that being said, they're a super nice person. However the market in our state is nuts. This agent isn't timely at all. Homes are being listed and sold within 2 days! We found another agent that responds quickly, and actually told us it's "imperative to move quickly in this market". We actually just learned that homes that aren't even listed yet are available to view by the realtor....we had no clue. And we seriously wonder why our agent friend hasn't been doing that before! How do we say goodbye to this person without hard feelings? I mean they're selling our house. They're making about $8k off of that sale. We just don't want to move from this home to an apartment because we miss out on homes as a result of our current agent not being timely! [link] [comments]  |
| How much do leasing agents charge to find a new tenant? Posted: 05 Oct 2020 12:39 AM PDT Hi all, I currently rent a 1-bedroom condo in Seattle from an independent real estate investor who lives on the other side of the country and has never stepped foot in the condo. I recently gave him notice that I'll be moving out, and mentioned I'd be happy to help him show the unit to potential tenants since my move-out notice (on a month-to-month lease) was somewhat short notice. I'm also just moving to another unit in the same building so it would be easy for me to show. He's previously used a rental property management company to find him new tenants, but when I mentioned that I have a good history of finding tenants for my own condo (a much smaller studio on the other side of town), and that using websites like Zillow, Hotpads, FB Marketplace were all free, he asked if I'd be willing to market and show the unit for him, and that he'd be happy to pay me a fee. How much is reasonable to expect for a fee for this type of service? Obviously I don't expect to get paid as much as a professional management company, but I'd like to at least get a ballpark of what they do charge so I'm not being totally taken advantage of. Do leasing agents / property management companies charge a % of the rent each month until a renter is found? Or a one time flat fee? Any insight would be helpful. TL;DR - I'm how much should I reasonably expect to charge a landlord for essentially acting as a freelance leasing agent in finding the landlord a new tenant? [link] [comments]  |
| Question: When to seek a new realtor? Posted: 04 Oct 2020 06:40 PM PDT In the good news, we just closed on a new home (hooray!) Now, we get to sell our first home. We've been working to prepare it for sale for about four weeks - painting, doing cosmetic repairs and prepping to move all our stuff. We are at the point, though, that we don't think we want to work with the agent that represented us in our recent buy. I'll outline a few reasons why:
So, clearly, we don't have malfeasance or poor conduct -- just personalities that don't mesh. She knows our area, sells here frequently; but, is also EXTREMELY busy. I worry our low-end home may not be a priority. Long story short, we haven't signed anything for her to represent us as sellers agent; but had several conversations around her representing us in the sale. What's the best way to handle this? Wait for her to call us (which she may, or may not, frankly); or, call her and tell her we've decided on another agent? [link] [comments]  |
| Posted: 05 Oct 2020 12:31 AM PDT Sorry it's a long text, thank you for reading. I am a 24 year old woman who bought a duplex three years ago with a boyfriend. He is the primary, I am the co borrower. My dad lent us the down payment in which my ex never paid back. We rented out one side and lived in one for 1 1/2years. In that time we split the utilities and remaining mortgage amount after tenants paid. Since day one I took care of the managing of the place: paying or physically doing all yard work and snow removal. I wrote up leases, found tenants, wrote up addendums and been main contact and face for all tenant. We eventually broke up and i lived in state. I ended up with all responsibility for the place. Because I could not find a tenant to fill the other unit, I moved in and found a roommate as that was easier and I needed to make the mortgage payments. I have paid all utilities, physically done all the work and managed everything. I also paid $3500 in back taxes from the time my ex lived in the unit. Now with sales prices being so good my ex got a lawyer to force me to sell for a outrageous price, mean while all utilities are in my name and I still have to manage everything. I know I could sue him but I have school and everything else to focus on. I really would like to drop my name off the loan and quitclaim the title to him and walk away and leave him with all the responsibilities. What should I do.. I have anxiety with large decisions like this. The duplex is a money pit and it's too stressful to manage and take care of. I do not think we will make money off of selling it.. I think it will be on the market for a long time because it is priced 30-40-50k higher than its worth. Meanwhile I am footing all the hard work and effort. [link] [comments]  |
| Posted: 05 Oct 2020 12:31 AM PDT Sorry it's a long text, thank you for reading. I am a 24 year old woman who bought a duplex three years ago with a boyfriend. He is the primary, I am the co borrower. My dad lent us the down payment in which my ex never paid back. We rented out one side and lived in one for 1 1/2years. In that time we split the utilities and remaining mortgage amount after tenants paid. Since day one I took care of the managing of the place: paying or physically doing all yard work and snow removal. I wrote up leases, found tenants, wrote up addendums and been main contact and face for all tenant. We eventually broke up and i lived in state. I ended up with all responsibility for the place. Because I could not find a tenant to fill the other unit, I moved in and found a roommate as that was easier and I needed to make the mortgage payments. I have paid all utilities, physically done all the work and managed everything. I also paid $3500 in back taxes from the time my ex lived in the unit. Now with sales prices being so good my ex got a lawyer to force me to sell for a outrageous price, mean while all utilities are in my name and I still have to manage everything. I know I could sue him but I have school and everything else to focus on. I really would like to drop my name off the loan and quitclaim the title to him and walk away and leave him with all the responsibilities. What should I do.. I have anxiety with large decisions like this. The duplex is a money pit and it's too stressful to manage and take care of. I do not think we will make money off of selling it.. I think it will be on the market for a long time because it is priced 30-40-50k higher than its worth. Meanwhile I am footing all the hard work and effort. [link] [comments]  |
| Posted: 04 Oct 2020 06:30 PM PDT I fully expect my furnace to be a point of negotiation for the buyer. It's 46 years old, and to my knowledge, hasn't been serviced in years. It works great and my condo is tiny (665 sq ft) so it's not like it cranks for long hours when in use. That said, when I bought this place my inspector told me I should probably replace it ASAP. Well, here I am on the way out and I still have it. Should I bother hiring someone to come by and service it in advance of the inspection in the hopes the buyer finds it acceptable enough? We're in an old building in a historic neighborhood so it won't be a total surprise that it's old. Or should I just roll with it into the inspection as is and see what happens? [link] [comments]  |
| Selling agent won't return email calls or text ( under contract) Posted: 04 Oct 2020 08:33 PM PDT I have tried multiple times to contact sellers realtor but they never return my messages. What should I do? Who do I contact? I'm not using a realtor. I know that I should. I've been told already. any new advice would be very helpful. [link] [comments]  |
| Total Newbie Question - Current home mortgage and relocating to a new state Posted: 04 Oct 2020 04:33 PM PDT My husband is the owner of our multi-family home, we share this house with his family and are in the process of refinancing. My husband will have a new job in DC (we are in NY) and ideally we would like to relocate to DC/surrounding areas and transfer the mortgage to my Husband's brother (who shares this house with us) then purchase a new home there.. how difficult is this situation? Also, if we move to a different state can we apply for an FHA loan eventhough we already purchased a home before? Will this be a complicated process? Should we rent instead? We have 2 kids so renting is not what I prefer because of possibility of complaints from neighbors but I was wondering if thats what we should do first? Thank you!! Sorry if i'm asking dumb questions just wanted so see what you think 😬 [link] [comments]  |
| What are the signs of a good and bad real estate agent for buying? Posted: 04 Oct 2020 08:06 PM PDT Hello all so we've been looking at various homes and have had 2 offers fall through. We're getting disheartened and feel like our agent isn't really helping us get our best offer out. We're first time home buyers so everything's new but for our first offer on a home we merely did a higher asking price. We didn't know about waiving contingencies and he did nothing to inform us. When I brought it up after we got our first rejected he advised to go 25k over asking for the second and waive appraisal contingency. I found it weird that now he's giving better advice compared to the first. That offer was ultimately rejected and he could not find out why even after we told him we'd be willing to counter. I don't know if this is typical but we're not 100% sure about him anymore. So is this uncommon? What signs do you look for in a good agent who really wants to help and get you a home compared to a bad one who just wants a check. [link] [comments]  |
| Posted: 04 Oct 2020 11:10 PM PDT Hi everyone, this is my first time starting a thread on reddit Sorry for the long post. :-) So we purchased our first townhouse, and are super excited 😄. It is in Canada, BC. Yesterday was our possession day, and we were preparing to get the keys and all. The problems started that am. First per contract we were supposed to get the keys at 10am, but were asked if it can be 12pm. We got there 12:30pm. They were still moving out until 1:30pm, and the cleaners they hired where there until almost 2pm. They left a few full garbage bags. They were supposed to replace a Over the Range Microwave, and that was not done. The broken one is still there, and apparently the new one is ordered and pending installation. We were left with dealing with home depo and the installation company. When we first saw the place, the listing stated it was freshly painted, we saw it wasn't and asked, the seller realtor stated , as the place was just listed,and it was, they will paint it, same question was asked when we did the inspection same answer. They took the cable and internet equipment with them, even though it belongs to the strata. the strata has a multi year contract with shaw. And the last thing which honestly is the biggest issue i have, is they didn't leave us all the keys. There are 2 doors from the garage to the house, and to the basement room, that i don't have a key. They only left us 1 key for the mailbox. And they didn't leave any garage door remotes. i managed to change the locks, but the garage door i cannot do anything except unplug it. What are our options here, and what are the steps we should take? Thanks in advance. Edit: Forgot to mention, my Realtor is in contact with the sellers realtor, but I don't see much happening here, as he just said he will get back to us.. 36 hours later.. nothing.. [link] [comments]  |
| How to sell a home for parents when one is in hospice? (CA) Posted: 04 Oct 2020 10:28 PM PDT Have parents that have equity in a reverse mortgage loan and would like to sell their home and put them in a home together. My mom is unresponsive and dad cannot watch over himself. How would I go about selling their home so that I can put them both in a home with 24hr care. Thank you [link] [comments]  |
| Possible to get my Residential Real Estate Appraisal License by 18? Posted: 04 Oct 2020 10:27 PM PDT Just wondering if I can do the 150 hours of courses required before hand. [link] [comments]  |
| Lots of homes for sale in an area Posted: 04 Oct 2020 04:15 PM PDT I've been browsing homes on Redfin (out of Seattle). I keep noticing a ton of homes in a specific neighborhood going on sale (Lake Forrest Park if you're familiar) and I'm curious how to research why. The school ratings aren't great but being close to Seattle downtown and the water, this neighborhood seems great [link] [comments]  |
| Posted: 04 Oct 2020 06:22 PM PDT My husband (28M) and I (26F) are first time home buyers and have been home shopping for around a month. Our budget is pretty high, but we also live in an in-demand area and want to stay local. With that said, we've already seen 4 or so houses we swore was the one, until we saw the next so the housing market can't be that bad lol. Overall we've seen around 20. We've put in offers on two houses, the first we ultimately rejected their third or fourth counteroffer because the seller didn't want to pay any closing costs or negotiate on price at all. They just didn't seem serious enough about selling to us for us to keep going back and forth. The second house is waiting until tomorrow to review all their offers; the one we put in is for asking price plus 75% of closing costs. This seems fair to us because the house does need some minor work and is very expensive even for the area. Our agent seems to think we should put in even more and told us we need to start just putting in our highest bid first on every house we're really interested in. I feel like that's kind of crazy as we don't even want to close until December and there seems to always be another home. I also noticed whenever I watch those house buying shows that they start off low and usually cut a deal at least a bit below the asking price. However, our agent doesn't seem to be a fan of this tactic and believes we'll keep losing houses until we're willing to put in more than the asking price and pay closing. Is this right or does she just want more money? [link] [comments]  |
| Posted: 04 Oct 2020 09:23 PM PDT Hey guys, I wanted to get an honest assessment and some experienced opinions. My wife and I have been trying to "buy" the house she inherited since February. Basically she and her brother inherited the house after her mother passed away so we are getting a mortgage to buy him out of his share, and we are keeping the house. We are, supposedly, about to close but we have been having serious misgivings about the competency of our mortgage broker. Mostly because it has taken them 8 months to get us to this point. Every time we have brought the time frame up to them they've kind of shrugged and said "yeah, the whole industry is all over the place right now...". We're also right now slated to pay them almost $5,000 as part of our $20,000 worth of closing costs (on a $176,000 loan/$220,000 purchase price). Those numbers don't feel right either, but maybe I'm mistaken? Basically both my wife and I feel like this whole thing has been mishandled, but were wondering if someone impartial might see it differently. [link] [comments]  |
| How often do agents lie in regards to offers in on a house? Posted: 04 Oct 2020 04:01 PM PDT Buying a townhome and we submitted our offer yesterday. This place has been on the market for 3 days and the sellers agent is saying they have 6 offers in and expecting 3 more. Is it possible that sellers agents lie to just stir up emotion? So the buyer considers upping their bid? This is a hot sellers market so not impossible for the house to have this many offers (as another house supposedly did) but curious if it's possible the agent is BSing. Edit: I know that this is a hot sellers market so I'm not asking if it's possible for a house to receive X offers but more whether agents can lie about number of offers received. [link] [comments]  |
| How do I get into wholesaling? Posted: 04 Oct 2020 07:37 PM PDT Im 15 almost 16 and I wanna get into real estate and I feel this way is good to start.I wanna be able to have at minimum 5 thousand in my bank account when I graduate highschool but of course I wanna have more I just feel like that should be a good minimum. I wanna know how it works,best way to get started,how to get in contact with people and whatever I need to do to start whole sailing I also want to know people my age or over that currently do it or are retired for tips. At a point when I have enough i wanna get invested in being a landlord and own air bnbs [link] [comments]  |
| Feeling a bit of buyer’s remorse Posted: 04 Oct 2020 07:08 PM PDT We've recently closed on a SFR in a city south of Boston. The neighborhood is quiet and most homes that sell here are appreciating in value (we almost got priced out of this home). The school system is excellent. I live close by to my parents home since they are in the next town over. Recently, I've been seeing a lot of Facebook posts of friends who have purchased their homes in Rhode Island and particularly in Pawtucket. According to the housing market there, houses are huge and cheap. I guess what I'm trying to say is that I wish I wasn't so tied down to friends and family that I could have looked at homes out-of-state. What do you guys think? [link] [comments]  |
| Posted: 04 Oct 2020 07:45 AM PDT Hey all, We just got confirmation our loan is ready to go, but still waiting on appraisal to come in. My question is if appraisal has been done, does it show up on Zillow somehow? I haven't seen the report or heard from the lender, but I noticed the home we chose on Zillow changed price to $5000 over what we offered. All other sites show the original price. Could it be it appraised over? If it appraises over, can the seller demand more? We're first time buyers so I have somewhat silly questions. [link] [comments]  |
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