My painter just asked me to pay him in cash. The job is nearly 10 grand, should I be sketched out by this? Real Estate |
- My painter just asked me to pay him in cash. The job is nearly 10 grand, should I be sketched out by this?
- Tenant wants a "reason" why I am not allowing a large breed puppy in a 500sqft apartment.
- This one slimmy realtor :)
- Winter is coming... less homes for sale??
- Signed offer and it's time to put up earnest money and I am freaking out
- Should my real estate agent be more forward with me in telling me what my offer should look like when buying?
- Sudden Increase In New Listings Today.. After No New PPP / Stimulus Plan Passed??
- How long does it typically take auction.com listings to go from TBD when listed to have an auction date?
- How much does it cost to build a house like this in San Jose?
- Has there been any studies due to low inventory on homes and prices going up on how house broke people are? Or debt to income ratio?
- First phone meeting
- How is CA property tax calculated during transaction?
- Does bedroom need wall/door to be a bedroom?
- Now I'm Confused(as a noob)
- Home Inspection Revealed a Lot...
- In Escrow, seller caused extensive damage trying to DIY an inspection repair request. Help?
- Seller requesting post closing possession
- Lender estimating property tax high?
- Question about new construction?
- Stachybotrys: a request for guidance.
- How can I find property lines of my house? Thinking my neighbor may have build on some of my property. (US , NYC)
- Legality of Permanent Trailer Home in SoCal
- (Ny State) Should I do a cash out refi?
- Can someone give me the process of buying new construction using only the model home sales reps?
- Offer expiration 3rd day or 72 hours?
| Posted: 01 Oct 2020 04:42 PM PDT I don't plan to pay him in anything but a check but does him asking for this raise any flags or is that normal for a contractor? [link] [comments]  |
| Tenant wants a "reason" why I am not allowing a large breed puppy in a 500sqft apartment. Posted: 01 Oct 2020 06:25 PM PDT He has a 1 year lease and has been living in the 500sqft 1 bed apartment for 3 months with his cat (approved at move in). He recently reached out to ask to adopt a "large breed puppy." Our lease states that all pets must be individually approved in writing by landlord, so I politely said no and referred to that clause in the lease. He then responded with an extremely well thought out and well written email asking to understand why I would not allow a large breed puppy in a 500sqft apartment. Normally I'd just respond with a very polite "fuck off, this was the lease we both mutually agreed to" as saying anything more I've found usually results in the tenant trying to twist your words to their advantage. However, he has been a model tenant and I would like to give a reasonably compassionate explanation without saying too much like "ARE YOU OUT OF YOUR MIND A DOG WILL DESTROY THAT TINY APARTMENT. Any suggestions? -- On another hand, I would be okay letting him have the dog if he agrees to a rent increase that will match the cost to replace the flooring and baseboards after move out (my city's pet deposit limits are an absolute joke - $250 max, so that's not an option) but that would result in a 20% increase in rent, as the unit is already priced below market. If you were in the tenant's position, would you even want to hear that offer? [link] [comments]  |
| Posted: 01 Oct 2020 06:26 PM PDT Very recent cautionary story. Would love to attach screen shots but app won't allow us. We're in contract for 2k sqft house in SoCal for $700k. Ofcourse the inspector found many deferred maintenance like roof leaks, vermin nest in the ceiling, ripped stuff from roofs, etc. No big deal, right? We plan to propose repairs concessions because owner just bought another $900k house and not in financial strain (said the seller agent). Well, first red flag was our new broker. She insisted that we shouldn't ask, its a hot market, seller will not accept, etc.. before even writing the inspection objection. She gave me hell. Literally yelled and over talked me for straight 30min phone call. Second red flags, she immediately ordered an appraisal. Alerted, I did a short county title search. Found over 5 property tax liens. Can't see the detail so I asked my nice broker again. She yelled at me for another 10 min. Provided random facts (liens will be paid no matter what during the closing), questioned my reading abilities, stated that she is a law expert and I should trust her. Well, I don't trust her. Paid the title company to do a complete search. This property owner have $75 million judgements along with over $500k owed back taxes. This property will not paid off even if we close it. Costed me $900 total but I'm glad I didn't listen to a law expert who branched out to be a small property broker. Edit: New broker later admittedly said she's aware of the lien issue and its all typos. Questioned her back, No corrections for years? What a nice homeowner. [link] [comments]  |
| Winter is coming... less homes for sale?? Posted: 02 Oct 2020 04:17 AM PDT I suspect we're going to see even lower inventory due to cyclic market. And longer build times in the winter. (wild speculation) And now with the new" situation", we could see stricter or extended lokdown measures, which would mean even lower inventory. I don't think the inventory problem is going to be solved anytime soon.... Thoughts?? [link] [comments]  |
| Signed offer and it's time to put up earnest money and I am freaking out Posted: 01 Oct 2020 05:07 AM PDT Just signed offer yesterday and I need to put down earnest money today. I can't sleep. Since covid started my fiancee and I have both been working from home in a tiny apartment and decided to buy a house to have more space. We've been wanting a house for years and I think we found one that meets all of our needs. The house costs more than I ever thought I would spend on a house. The way prices have been skyrocketing is making me fear that we are in a bubble, but maybe with all the money the Fed has been printing, it could just be real inflation. Either way, the fear of the housing market crashing is keeping me up at night. Anyone else navigating these same emotions? What is helping? Thanks and stay safe. [link] [comments]  |
| Posted: 01 Oct 2020 07:13 PM PDT We find a house that we like and we tell my agent that we have the budget to bid X on this house. We inform them that we don't want to extremely overpay but we want to win. We also ask which contingencies we should wave etc. Our agent always comes back with "you have to make the best offer you can and do what's best for you." They never come back with if I were you I would bid X and waive these contingencies. I feel like they should be more forward in instructing us what our offer should look like. Am I right in feeling this way or do buying agents normally act this way? [link] [comments]  |
| Sudden Increase In New Listings Today.. After No New PPP / Stimulus Plan Passed?? Posted: 01 Oct 2020 09:38 PM PDT I noticed a handful of price drops too.. is this an anomaly in the white hot market with painfully low new supply every week, or are houses finally going back on market after homeowners are seeing how much people are paying? Curious to hear what you guys are seeing in your own markets! [link] [comments]  |
| Posted: 02 Oct 2020 04:14 AM PDT First time home buyer here, I've been looking at a property listed by auction . com, It has been posted for 35 days with little info regarding the time frame of the sale. How long does this typically take? Just trying to plan ahead as much as possible. Foreclosed property may still be occupied there is still information missing. Any guidance would be appreciated. [link] [comments]  |
| How much does it cost to build a house like this in San Jose? Posted: 02 Oct 2020 01:50 AM PDT This is my dream house: Floorplan here total area = 1,810 sqft 1st floorplan 966 sqft 2nd floorplan 844 sqft My current house is built in the 50s. Silicon Valley is a expensive place, I definitely cannot afford to build right now, but just want to get an estimate how much $$$ to save in order to build my dream house [link] [comments]  |
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| Posted: 01 Oct 2020 06:24 PM PDT I passed my exams Wednesday and decided I should reach out to someone who's been emailing me for recruiting purposes for a while. He's fairly prominent and runs his own group that's apart of a big name company and I'm brand new and feel clueless. Any insight of what I should expect during the call, any questions I should ask him or that he will likely ask me? He's not a broker if that helps. Thanks! [link] [comments]  |
| How is CA property tax calculated during transaction? Posted: 01 Oct 2020 07:55 PM PDT Let's say the house is currently assessed to be worth 310k and will be sold at 700k. The county tax rate is at 1.25%. The closing date is on October 1st. How much does the seller and the buyer each need to pay in property tax for 2020? A few things to consider: The CA fiscal year starts on July 1st. So is the seller paying the first 3 months at the currently assessed value of 310k, or $323 per month? Then once the house is sold, does the tax reassessment get triggered immediate or after the fiscal year is over? Does this mean the buyer will pay $729 a month in property tax for the next 9 months? [link] [comments]  |
| Does bedroom need wall/door to be a bedroom? Posted: 01 Oct 2020 01:45 PM PDT Hi, I know there are certain requirements for a room to be called a bedroom. Such as it must have ingress and egress. It must have a closet, etc. But, I am wondering about a couple other things: 1) does it need to be a certain size (sq ft)? 2) can it be "open" to say the hallway? For ex, I just bought a house. It is listed as 2 bedrooms. There is clearly one bedroom. But the other bedroom is like this - you walk upstairs and at the top of the stairs it just empties into an open room with no actual wall that contains a door. So there is no door, it's just open to the walk path at the top of the stairs and you then walk past that and into the other bedroom. This "bedroom" is probably only about 75 sq ft. It does have a closet. So I am assuming it qualifies as a bedroom technically since it has ingress/egress (2 sources including a window) and it has a closet. But it just doesn't feel like a "room" since it is open (ie not closed off). Thoughts? thanks! [link] [comments]  |
| Posted: 01 Oct 2020 02:41 PM PDT I have been following Graham Stephan for a while and had learned a lot from him, especially on real estate. Recently, he had a video with Kevin O'leary and he pointed out about Graham's debt being too much. I think this is a result of the BRRR Strategy that Graham follows. Now, Kevin advises Graham to settle or lessen the debt first before moving on to another purchase. That means in that way, BRRR Strategy won't be applied anymore because to my understanding, refinancing gives you more debt. And by "settling the debt first", as an average income person, how is one able to settle that amount of debt in a shorter time? that also means lesser investments over time because you will not move on to another unit/house without settling your current one first. Sorry. I'm not really sure if I got the whole picture there but that's what I understood and now I am confused. Someone kindly enlighten me, please. Thanks! [link] [comments]  |
| Home Inspection Revealed a Lot... Posted: 01 Oct 2020 04:10 PM PDT I'm under contract for a 29 year old house. They listed it ridiculously high over recent comps, so I guess people were afraid to make offers, because my accepted offer was about 17% under their asking price, in a highly sought after neighborhood. The seller's agent warned my agent that they didn't plan to make any more concessions after inspections because they had come so far down on their price (but honestly, IMO coming down on a price that was clearly way too high doesn't mean anything.) Fast-forward to the inspections. I just got the reports. Here are some of the highlights: Leaking flashing into the attic where the chimney meets the roof. Chimney damage, no chimney cap. Sagging deck from hot tub with no supports under it. Deck rotting where it meets the house, improper supports. Water splashing up and rotting out some exterior OSB under clapboards on the bottom. Rotting wood around some windowsill areas. Original boiler nearing the end of its useful life. Original hot water tank at over 2x expected life expectancy. Entire radiant floor system and pipes to baseboard made of Entran II piping which was phased out years ago and went thru major class action suits for being defective. Pipes leaking near boiler. Front porch and back deck improperly supported with concrete deck blocks. No railings on front. Loose toilets in 2 bathrooms with evidence of damaged subfloor beneath. Evidence of mold beneath the front door as observed from the basement. This is consistent with why the owners would have replaced the entire front door a few years ago, but of course nothing in disclosures. Pest feces on the attic floor. Follow-up scheduled with a pest inspector soon. In-ground pool liner and cover each have about 2-3 years left. Pool heat exchanger wasn't directly inspected but has major corrosion all over the piping. Water stains on the ceilings of a couple rooms. No CO detectors anywhere in the home. Switch box with double-tapped breakers & evidence of arcing and scorching. Missing railings throughout the house. Failed seals in multiple windows. Missing GFCIs throughout. 2 leaking sinks, 1 leaking laundry basin. I'm still waiting for the results for radon and mold/air quality. Some of this is minor, but some of it seems pretty major, too.Based on this, I feel like my options are to: A.) Offer them significantly less for their house. To heck with their warning and to heck with the "lowering" of the initial price (to where the other comps are lol) B.) Run What would you do? [link] [comments]  |
| In Escrow, seller caused extensive damage trying to DIY an inspection repair request. Help? Posted: 01 Oct 2020 09:59 PM PDT Buying a ~$600k house. As part of the inspection requests we wanted the fridge replaced because the old one was no longer keeping things cool (freezer at 50+ degrees). Seller agreed to repairs and DIY install a new fridge. Both old and new fridge have a water line. Well, the water line leaked while the house was vacant and was discovered about a week later. Initially we were assured there wasn't a lot of water and that it was taken care of. Ok.... Well, we visited the house yesterday (this would be day 14 from the date of fridge replacement) and while the kitchen appeared ok, the carpet pad in the neighboring living room is completely soaked still. The room is roughly 30x20 ft and as far as I can tell it has affected about half of it along with the drywall. Subfloor is concrete. The place REEKS of a musty smell now. I feel like I have no choice but to ask for a SUBSTANTIAL credit on the house or a 3rd party restoration company needs to be out there yesterday. I no longer trust this moron to DIY repairs. Since we are under contract and since the seller has materially affected the value of the house due to a botched install, and what I consider to be negligence in dealing with the issue, how much legal leverage do I have? It's not my intent to walk from the deal. It is my intent to force the seller to fix this via a 3rd party or compensate. Advice? [link] [comments]  |
| Seller requesting post closing possession Posted: 01 Oct 2020 12:04 PM PDT We are in the process of buying a home, contracts are being written up now. The seller is now requesting a 30 days post closing possession, giving us 10K as payment To us this isn't worth the wait, we want to get settled in we have some work to do on the house it's approaching winter here in NY and will be harder to move and do the work we need done and we have our own reasons besides that for wanting to get in sooner rather than later. We are waiting to hear back now, open to any advice since we are first time buyers. [link] [comments]  |
| Lender estimating property tax high? Posted: 01 Oct 2020 09:47 PM PDT My lender is giving me a high estimate for the property tax at about $511 per month. The calculator on Trulia and one I found on google for California property tax says the payment would be around 3813 annually which would be ~318 per month. Am I being scammed? I don't know how they are getting this number [link] [comments]  |
| Question about new construction? Posted: 01 Oct 2020 11:12 AM PDT So, the wife and I purchase a new construction home. The home is located a short distance from our current home. We only purchased to increase square footage for family of four. The house is to be completed on October 22nd. We close on November 3rd. So, this past Sunday I had some family in town. They wanted to see our new home as it is being built. During our tour, we went to check the upstairs. Once we rounded the corner, I noticed a sewer smell. I went into the guest bathroom to discover that one of the workers pissed in the bathtub. The bathtub with no running water. We contacted our realtor and demanded action. The contractor's sales agent contacted us and stated that it would be cleaned immediately. FF three days, the wife and I decided to stop by and check some measurements and make sure the cleaning has taken place. It has not and now the entire upstairs smells like piss. My question is this? What options do we have? Has anyone ever experienced this before? The thought of our kids, in four weeks, bathing in that tub makes me sick.. [link] [comments]  |
| Stachybotrys: a request for guidance. Posted: 01 Oct 2020 09:13 PM PDT Hey, all. First time home buyer here from central FL. Just to give some background, my wife is 6 months pregnant. We came across a great home with everything redone. We were first told that the kitchen remodeling came from a leak in a refrigerator hose that flooded while the owners were on vacation. It was downplayed. While searching for homeowners insurance, we were informed that the claim for remodeling the kitchen/floors came to $46k which brought us concern and led to an eventual mold test/sample collection. Fast forward to today and we get our results back to find that there's a presence of stachybotrys/memnoniella (1 raw count or 70m3). We're past our inspection period and our inspector and even parents say its not much to worry about. However, a lot of sites stay that there should not be a presence of these and if so then 20-50 would already be concerning. We haven't closed yet and at this point are debating whether or not it's minimal (more than anything for the baby) or if we opt to lose our $5k in earnest funds or ifmts worth attempting to negotiate a remediation. Any insight is greatly appreciate. Big thanks in advance! TLDR: got some stachybotrys (70m3) in an area that was flooded and downplayed with a pregnant wife. Do we haggle for a fix or dip out and lose some guap? [link] [comments]  |
| Posted: 01 Oct 2020 05:26 PM PDT Hey guys I want to look at the property lines of my house because I think my neighbor may have build a wall on it in the past. There is a giant wall in the middle of our property that makes it so I can't park more than one car in the driveway. It's just really weird because all other houses on the block have driveways where they can drive all the way back and park multiple cars but my house can't. This is my parents house and they say the wall is our neighbors but it just seemed odd and I wanted to find out the answer myself. P.S - I can drive more than one car in but we just can't open the doors Any help is greatly appreciated thank you guys [link] [comments]  |
| Legality of Permanent Trailer Home in SoCal Posted: 02 Oct 2020 12:44 AM PDT Does anyone have experience with this I want to put a trailer in my back yard one day and live in it, rent out main unit. [link] [comments]  |
| (Ny State) Should I do a cash out refi? Posted: 01 Oct 2020 08:55 PM PDT My parents recently did a deed transfer for a completely paid off rental property of theirs in NY as a "gift" and now I have an investment property under my name. I want to do a cash out refinance on this property to get some of the equity out to use for a down payment for another home possibly but I don't know if it's a good time (like would i be at a disadvantaged if the property value does go down in the next few months) I'm in no rush to buy a house but I want some of the equity in cash in case an opportunity presents itself in the future. Interest rates are low right now and there is A LOT of built in equity on this property. I guess my question is if the market gets flooded with a supply of properties, would interest rates shoot back up again? [link] [comments]  |
| Can someone give me the process of buying new construction using only the model home sales reps? Posted: 01 Oct 2020 08:17 PM PDT Hello Everyone, I just want to make sure everything sounds normal. Wife and I reserved a new construction home. At the time it was just a dirt lot and no ground has been broken. That was on 7/17/2020.... Since then the home is framed, roof on and windows in. I would say pretty good progress for 10 weeks. So far this is what we've done and the process:
What is the next step typically as the home gets closer to finishing? Since I dont have my own agent and relying on the model home rep should I reach out to the preffered lender directly? And then he reaches out to Escrow? Whenever I reach out to rep via email she is very unresponsive. I am not too happy at all with her professionalism but with this market they know we want the homes. I just want to know whats next... Does the real estate rep initiate the start of the loan documents or do I reach out to the Lender directly? The Purchase contract says expected close 1/29/2020 I dont think it will take that long based on them building the homes rapidly but you never know. Or should I just sit back for a month and see if I get contacted and be patient? The only way i've been able to get a hold of the lady is by going into the office and confronting her non appointment to pick options. [link] [comments]  |
| Offer expiration 3rd day or 72 hours? Posted: 01 Oct 2020 07:25 PM PDT In the California real estate offer contract, it says the offer expires on the 3rd day at 5pm. So if the letter was received today Thurs Oct 1, does that mean THURS, FRI, SAT. It expires Sat at 5pm? Or does it mean 72 hours, so FRI, SAT, SUN at 5pm? [link] [comments]  |
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