My MIL fell for an email scam closing on a house and wired $62K to scammers Real Estate |
- My MIL fell for an email scam closing on a house and wired $62K to scammers
- UPDATE - I felt ready to buy a house, but my dad told me it's a bad idea and now I don't know how to feel
- Didn't receive closing disclosure
- Are there any downsides to unrestricted rural subdivisions?
- What are the DISADVANTAGES of a Corner Lot?
- Appliances in a New Construction - Finance or buy outright?
- More accurate: Redfin or Zillow?
- Attempted to remodel a house using cash over the span of a few years. Now need to finish ASAP. What would be my best course of action to finance the remaining work that needs done?
- Not selling? Raise the price.
- New Construction Home Loan Process...Help!!!��
- Help. What is wrong with this listing? (Omaha, NE)
- Sellers.. and their cattle - are not able to leave in a timely manner
- Costs to sell a house within 1-2 years?
- Just got my property tax bill, not cool. Jumped almost 100$ for each payment. Anybody else? LA peeps?
- OpenDoor offer higher than all others-am I missing anything?
- When shopping for a house would it ever be wise to just use the listing agent as your buyers agent?
- First time home seller! Q’s??
- Thoughts on home purchase
- Buyer backed out, after finding out AirBnBs not allowed
- I need some help choosing.
- Question Appraisal was higher now broker and agent suggest seller cover closing
- New Build. Just found out its 2 blocks from railroad tracks.
- Chances of being pre approved
- Do I owe to my (buyer's) agent in my situation?
- How can I sell this lot in a flood zone?
| My MIL fell for an email scam closing on a house and wired $62K to scammers Posted: 26 Oct 2020 01:57 PM PDT *EDIT: forgot to add that they sent the banking info (routing number and account number etc) in a MICROSOFT WORD DOCUMENT 🤦🏻♀️ Somehow these scammers figured out that they were buying a house and I guess pretended to be her agent that she's been working with. The worst part is that we (my SO and I) not more than a week ago, just told her to stop sending any money to people and told her about all the scams because she had her PayPal hacked and ended up sending the scammer around $500! We specifically told her that no one will ask for payment through email ever and to always pay attention to emails that have typos and grammatical errors especially. She sent the money on Monday and on Thursday got a call from the actual title agent (? Or whoever she would send the down payment on a house to) so they could go through the process of getting the money. We immediately called the banks and I told her she needed to have a wire recall done in hopes it would be able to get the money back. I doubt it though since it was already a few days since she sent it. $62K and these were the emails they used. My SO has been pissed off and we just cannot believe the stupidity of this. [link] [comments]  |
| Posted: 26 Oct 2020 06:16 AM PDT I showed my dad the math and he's on board now! He admitted that he didn't realize what home and rent prices have climbed to. When I first told him about buying, he said "I don't know, do you really want to commit to a 500 or 600 dollar payment every month?" ... even where I'm at, that's kind of unheard of lol. Thank you everyone for the advice and confidence boost in my original post. The 85k one was too good to be true, the foundation was sloping and it reeked of mold. I was also a little worried about, what if that up-and-coming area never "comes up" - it's had plenty of time to and hasn't yet. I went with the 170k ready-to-go house. I submitted an offer for 168k with 3% seller's assist. We shall see what they say. It should be around 12k to close with a monthly payment around 1k. The house has been on the market for a month which is kind of long nowadays, but I don't think the family is in any rush to sell since the house is paid off in full. I also got to talk to the neighbor yesterday when I stopped by at the open house and he seems very sweet, he was trimming his roses. He said he loves it here and it's a nice quiet street, still close to everything. And the neighbor on the other side was taking her huge fluffy dog out for a walk and said hi! Wish me luck and if I just made a horrible decision please keep it to yourself because I am freaking out a bit! Haha [link] [comments]  |
| Didn't receive closing disclosure Posted: 27 Oct 2020 01:54 AM PDT We are in the process of buying our first home and close on 10/30. Everything has went good until tonight. Our lender said we would be receiving our closing disclosure tonight (electronically) and that it HAD to be signed tonight (to comply with the 3 day waiting period). She said the department that sends them out has been working long hours so it could be late at night when we receive it. We waited all night (it's now 01:52 the next morning) and didn't receive anything. I emailed her about it but obviously she won't reply until morning. I'm very worried what happens from here? Anyone have a similar problem happen? [link] [comments]  |
| Are there any downsides to unrestricted rural subdivisions? Posted: 27 Oct 2020 01:32 AM PDT I am wanting to buy property for a hobby farm and a manufactured home. Both of these typically require unrestricted land. I've found a number of properties that are in rural subdivisions that are listed as no restrictions and no HOA. Are there any underlying problems with rural subdivisions that have no restrictions and no HOA? I don't want to spend tens of thousands of dollars developing my land only for someone to come in and say "Sorry, you can't have that pole barn right there." I also worry about an HOA starting against my will. Basically, I want truly unrestricted land and I am not sure if I should completely avoid subdivisions altogether. [link] [comments]  |
| What are the DISADVANTAGES of a Corner Lot? Posted: 26 Oct 2020 06:38 PM PDT Hey guys What are the disadvantages of buying a single-detached that's a corner lot? I heard there's a discount on them and some ppl don't like them. I'm just wondering why. I thought corner lots command a premium because there is 1 less neighbor and you get more lot size. This is just in a cookie-cutter subdivision neighborhood. [link] [comments]  |
| Appliances in a New Construction - Finance or buy outright? Posted: 26 Oct 2020 07:37 PM PDT I am building a new home with a builder in an already established development. Our appliances are going to be about $11k. We have the option to either buy them outright or roll them into our mortgage. I am wondering if there is any benefit either way. I know we will be assessed on the appliances if we roll them into the mortgage and also have to pay interest on them for 30 years. But I also read that some people add them into the mortgage and just pay the extra money towards the down payment. What are your thoughts? [link] [comments]  |
| More accurate: Redfin or Zillow? Posted: 27 Oct 2020 04:09 AM PDT I live in CA (North Bay) - the difference between the Zillow and Redfin estimates is $120k which is significant. Does anybody know which tends to be more accurate? [link] [comments]  |
| Posted: 26 Oct 2020 06:24 PM PDT Buying a house on contract from a family member for $108K. Once I'm complete with my renovations the plan is to roll it into a mortgage with a bank. I have about $45k available in cash. Will need roughly $35K more financed to complete. I estimate the after repair value of the house to be around $220-250k. Looked into 203k/Homestyle loans, but not sure these are best for my situation (seem like a huge pain, and I would like to DIY some of the projects) My thought at the moment is to take a personal loan from a lender (SoFi) then consolidate it into the mortgage with a mortgage lender as quickly as possible. Any issues with this? [link] [comments]  |
| Posted: 26 Oct 2020 08:27 PM PDT I have seen several homes in my area. Listed on Zillo, Trulia and the like that have been sitting empty for a while. Then the house goes up in price. What gives? If it isn't selling for 130 k, i don't think it's going to sell for 170 k. Does this have something to do with prices of similar houses in the area or have people just forgotten how money works? [link] [comments]  |
| New Construction Home Loan Process...Help!!!�� Posted: 27 Oct 2020 03:22 AM PDT Long time lurker here. I'm about to start the process of buying a new construction home. The only experience I have with home buying is with resale's and that process was very straight forward. I'm having a difficult time understand the New construction purchase process. My question really hinges upon how much cash you need to show up front. I have the downpayment, but I'm wondering do I have to show the Loan folks the closing costs up front as well? It will take 9 months to build. That's almost a year's time. I will certainly be saving more and more during this period. Is the closing cost determined near the end of the build time? We are currently waiting for lots to open in a new community so I'm trying to get myself prepared as much as possible. Also for the design studio, I know I'll be choosing upgrades. Since this process is after securing the lot and floor plan and structural options, how will these upgrades be factored into the loan since the design studio comes later? Do I pay out of pocket or is it added to the loan later? All of this is difficult for me to wrap my mind around. I've searched around and can't seem to find a straight answer. I'm building in Phoenix with Maracay Homes. If you have a personal stories/experience please share, I'm all ears and ready to learn. [link] [comments]  |
| Help. What is wrong with this listing? (Omaha, NE) Posted: 27 Oct 2020 03:20 AM PDT Basically my wife and I have a difference of opinion on our listing. I thought I'd solicit some unbiased opinions from here. Listing in question So most houses in the neighborhood sell first weekend. If you search same zip code, there is a house in the neighborhood that we were told will switch to pending today (it was it's first weekend). We didn't get one showing the first weekend. Our agent and us agreed on starting price, but dropped given the zero showings and the other house with one more bedroom hitting the market. I'd also be interested in opinions on what more our agents should be doing? My wife and I disagree on that too. I'll come back and update with my wife's and my opinion in a bit. My thought right now is wait until after Halloween and Election, then drop price to 230k and try and do open houses that weekend. Hopefully the glass shower enclosure will be installed by then. TIA [link] [comments]  |
| Sellers.. and their cattle - are not able to leave in a timely manner Posted: 26 Oct 2020 06:05 PM PDT We are under contract to close on Oct 29. The sellers are having a time management crisis. The husband travels across the country for work and has been out of town longer than expected. They say they cannot be out until "5 pm on the 29th". We close at 2pm on the 29th, so they are going to be there for 3 full hours after it is in our possession. This also means they will NOT have their things out on the 28th when we are doing our "walk through" which at this point feels like bullshit since literally every single thing they own will still be in the house. The agent said "oh and they won't have time to clean it that well either" ... AND their cattle will be grazing the 25 acre pasture until dark on Friday because they won't have time to remove them until then - I mean what?!!! I am thinking we need to contact the closing attorney and ask that X amount of dollars be held in escrow until we are assured everything has gone smoothly. My husband says I'm over reacting and they just need a few extra hours to get their things out. I'm not that trusting and assume they won't give a shit about the house or how they treat in on their way out anymore since they are leaving. Any thoughts on this? It is important to note - we HAVE to close on the 29th because we have documents expiring. [link] [comments]  |
| Costs to sell a house within 1-2 years? Posted: 26 Oct 2020 05:58 PM PDT I'm trying to determine the costs involved with selling a house after 1-2 years. I'm looking to buy a $1M house but my fiance and I are moving to another area of the country CO and if we don't like it I want to minimize the hit. The issue we have is that most of the rentals in the area are dumps and the actual houses for sale are amazing. I think to calculate the costs it would be 2-4% for closing costs. Interest lost for the first 1-2 years. And then of course the costs for selling the house. Is there a good/easy way to calculate this? I'm trying to compare this vs just renting. [link] [comments]  |
| Posted: 26 Oct 2020 10:43 PM PDT |
| OpenDoor offer higher than all others-am I missing anything? Posted: 26 Oct 2020 05:42 PM PDT I've talked to a few traditional real estate agents who gave us CMAs showing 420-430 as a reasonable sale price. I received an offer from OpenDoor (after inspection) for 443, with 6k in repairs - so 437. Their cost is 5% (same or less as I'd pay with a realtor), and closing costs. Am I missing anything? Any reason to NOT sell to them? [link] [comments]  |
| When shopping for a house would it ever be wise to just use the listing agent as your buyers agent? Posted: 27 Oct 2020 12:27 AM PDT I mean what's to stop them from favoring bids that would allow representation on both sides over the other? [link] [comments]  |
| Posted: 27 Oct 2020 12:21 AM PDT Selling house for first time. Ok condition - inherited. Market area is about $180,000 I think it will sell for 165. Looking for tips on dealing with real estate agents as a first time seller. So much of this subreddit seems like it's oriented to buying so I'm hoping for some tips that prevented people from selling under value or getting taken advantage of. [link] [comments]  |
| Posted: 26 Oct 2020 08:35 PM PDT My wife and I are in our mid-20s and live in NYC. I make a good income, but we are currently renting and paying a ton for a tiny 1bd apartment in Manhattan. She is in school, which is fully remote, and I am 75% remote (I go into the office a few days a month). Given NYC is not the same due to COVID and we have no real reason to stick around and 1) pay massive rent for no space 2) pay local taxes 3) generally insane COL, we have been thinking of buying a house outside of the city and living there until things get better and we need to be in the city daily. We are first time home owners, so the idea would be to use some of the programs to purchase a house with very little down, live there for a while (let's say 12 months), and then rent it out when we move back to the city. I understand you can only have 1 FHA loan outstanding at a time, but given the price limits, it would be tough to utilize the program for a condo in Manhattan anyway. Is there anything I'm missing? Do I give up anything by purchasing a house now that I will regret when we want to buy our "real" home in Manhattan? I'm viewing this as a low upfront cost way of getting an investment property, but still abiding by the "primary residence" requirements of these programs. [link] [comments]  |
| Buyer backed out, after finding out AirBnBs not allowed Posted: 26 Oct 2020 06:09 PM PDT Received an FHA offer for a property located in southern CA. 2 day later, after seller accepted offer, buyer decided to back out. The reason buyer backed out, is because they realized the HOA does not allow short term rentals. As the seller, do I have the right to earnest money deposit? Edit: thank you all for responses. [link] [comments]  |
| Posted: 26 Oct 2020 08:21 PM PDT So im someone who wants to be a mortgage broker, yet I can't tell if it is worth it. I can't seem to figure out if opening one would add to the list of ones that haven't gone anywhere, or if this is something that could be very lucrative. I'm thinking places like LA or Florida or Texas would be places to do brokerage. Thoughts from professionals? [link] [comments]  |
| Question Appraisal was higher now broker and agent suggest seller cover closing Posted: 26 Oct 2020 05:40 PM PDT Hello this is my first time buying a house and we found out that the appraisal is 15k higher than the selling price. Our lender suggested that we ask the seller to cover the closing cost which is around 12k. Our lender just highlighted that the plus is we save money because less is required when we close. I understand and like the idea of saving money but my question is will this hurt me in the future? Edit: also yes I'm aware our payment goes up a bit [link] [comments]  |
| New Build. Just found out its 2 blocks from railroad tracks. Posted: 26 Oct 2020 11:20 PM PDT So my wife and I are closing on a new build in Tomball, TX. My wife is on the facebook page of the new neighborhood and there was a recent post about how "The builders never disclosed that there was rail road track 4-5 blocks from their house and it's extremely annoying, almost deafening, and will affect the value of the homes in the neighborhood" I had no idea there were railroad tracks, nobody disclosed this to us either. I've grown up near airports and tracks my entire life, so it doesn't really bother me, but apparently it's a HUGE issue from people in the subdivision who live 2-3 blocks further away than we do. I took a pole in the discord server I was in (7 or so people) and asked them if they would purchase a house next to railroad tracks. Every single person said no. I'm wondering if this actually effects the value or sale potential of the house once it's disclosed. We're literally closing in 3 days, and just found out about this. I personally am not looking at this house as an investment like I did the house prior. I recently retired from the Navy and just want a stable living situation and good schools for my daughter. I really worry about how this will effect my wife and kid as well, the wife isnt too happy about it. What do you guys think? I's this a pull out situation? Being a new build, my earnest money is only $99, so its not a huge deal. Were living rent free in my grandparents old house, so were not in a hurry. I'm just curious how this will effect the house in the long run. Any info is GREATLY appreciated. [link] [comments]  |
| Posted: 26 Oct 2020 02:03 PM PDT Hello what are my chances of being pre approved for a VA Loan. I am planning to purchase in the Las Vegas Area. I am a first time home buyer, I will be starting a job with the USPS, salary will be about 35 grand a year. I also receive VA Disability Benefits and will be receiving VA GI Bill Benefits. My credit score is In the 790s. I have no debt. [link] [comments]  |
| Do I owe to my (buyer's) agent in my situation? Posted: 26 Oct 2020 01:32 PM PDT Hi, I'd like to get some advice on my situation. I am buying my first house, and it is closing tomorrow. I got connected to this agent (I will call him S). when I asked for showing through Zillow website. (Once I clicked some buttons, he called me). Then, we met on Saturday, and he showed me 4-5 houses on that day. I met another agent on Sunday, but I liked S better, and decided to go with S. Over the weekend, we found a house we'd like to check, and asked S if we can see that house. S showed us the house on Tuesday. Then, we made an offer right away. So, we essentially found the house ourselves, and S only showed us houses for 1.5 days. Not so much time spent on us. The house is 1.54M, and I believe the buyer's side will take 2.5% commission. Now, here goes my problem. When I read the inspection report with S, we found a very short section about the pest/mold (simply saying they did not find anything), and S said it should be good to go. We did not make any contingency about the pest inspection. During the inspection, I realized that it was maybe a mistake, and asked S if I could have a full pest inspection report. Turns out that, the very short section about pest report was not complete at all, and we got ~$4500+ worth of pest problem as the full pest inspection result. I expressed my disappointment (though it is partially my fault that I did not ask for it), and S said he will pay for $4500 (sellers won't pay for it since we did not put this in the offer). We will do some fumigation and other works in few days. Do I need to feel like I owe him? He said he is going to pay for $4500 but it hurts his income big time. I am at least paying for the pest inspection report. Other than this problem, he had been very good. Very responsive. Though this pest inspection thing gave me lots of stress because it involves fumigation and I had to make 2-3 hours of phone calls to make a fumigation appointment asap + I need to pay extra $500 as I had to extend the current rent. I wonder this is normal, or I need to prepare some Amazon gift card or so. I feel like he still gets paid a lot given how much time he actually put on my case, but wanted to ask your opinions. Thanks in advance [link] [comments]  |
| How can I sell this lot in a flood zone? Posted: 26 Oct 2020 08:55 PM PDT I have two .25acre lots side by side in East Austin Texas. It's an upcoming area however the 100 yr flood plain just got moved to a 25yr flood plain and building is prohibited on the lot. What sucks is that next door a 2 unit townhome was built on a .25acre lot last year(2019). Sold for 961k total. Since I can't sell this land to a builder what's my best bet? Trying to sell to the city? I don't even know where to start. Or maybe selling to a phone company for 5G stuff. I'm just trying to salvage this best I can. Any Suggestions? [link] [comments]  |
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