[TN] I inherited an acre and am thinking about building something small rather than continuing to rent out apartments. Real Estate |
- [TN] I inherited an acre and am thinking about building something small rather than continuing to rent out apartments.
- Decided not to move. Should we compensate our realtor somehow?
- RADON Our realtor changed her story
- Housing development planned and its effect on my property.
- Can my wife and I use both of our incomes on a mortgage even if I just started a new job?
- Agent purchased house without listing
- Can I buy land for the sole purpose of planting a small orchard/garden? (LA)
- What is "realistic" to ask for by buyers in this market.(OR)
- Can a married couple also have a co-signer?
- As the seller will I be informed of when the appraisal and how much it came back at?
- First Time Buyer - Are these fees reasonable?
- Appraisal waiver but still being charged
- Meeting with a lawyer over real estate with ex
- (NY) own useless land I can't sell, what to expect in tax foreclosure
- Seller wants to keep owned water softener
- Buyer cash reserves
- Help! Neighbor drilling holes in the garage that leads through my mom's wall.
- Your favorite house exterior color? The house has red brick around the house, the bottom 1/3 of the exterior walls.
- Commission question
- Calculate unrecoverable cost of owning a house?
- When to renovate kitchen for rental?
- How close can another houses roofs be your house?
- If I have the keys, can I go to my new house before the time listed on the contract?
- I have a question
| Posted: 06 Oct 2020 12:42 PM PDT I recently inherited an acre of land in eastern Tennessee relatively close to Maryville and It's actually closer to my job than my insane commute is. One of my friends recently closed on a tiny little 500 sq foot house (with a basement that doesn't factor into the sq ft) over in Johnson City for just 60k. It was built in 2018, and the land for it apparently went for 3k. It's pretty much an apartment for a fraction of the cost that he's actually putting equity into. I really like that idea. How much would it cost to build a small house like that on the land? I actually have a fair amount of cash I could put up front. Could I build something around 500-1000 sq ft for around 100k? It would be so nice to ditch the apartment bills altogether since I already have the land. [link] [comments]  |
| Decided not to move. Should we compensate our realtor somehow? Posted: 06 Oct 2020 07:18 PM PDT Would it be appropriate to give something (a gift or giftcard or even cash) to our realtor for his time? We fully intended on buying a house. Our realtor drove 40 minutes to get to one showing, the others were within 15 minutes of his home. We made an offer on 2 homes but got beat by other offers. We are sort of burned out and have considered just staying put and doing some renovations on our current house, which is nearly paid off anyways. If we decided to look again we would definitely use him as our realtor. I just hate feeling like we wasted his time. [link] [comments]  |
| RADON Our realtor changed her story Posted: 06 Oct 2020 08:14 PM PDT Hey, we're buying a house and have been working with the same realtor for a while. I've gotten annoyed from time to time with her behavior (slow to respond, slow to schedule viewings etc.) Anyways we finally found a cute little house in our price range and a decent location. We're nervous as first time homebuyers and the one issue was that there's high levels of radon and we have a young child. However when we were walking through the house, I mentioned my concern about the radon and she said that the seller was installing a radon mitigation system. Both my husband and I were part of the conversation and he remembers it too. Based on that and with encouragement from our parents (because we're nervous nellies) we placed an offer on the house (full price because of the market). We were in second place and moved up to first! After going under contract we've had nothing but issues with our realtor - we had to redo the purchase agreement 3 times, she wouldn't get documents to our mortgage lender in a timely fashion (it took a full week for her to send the purchase agreement, despite me reminding every day) and then most recently she said she was concerned about the high radon levels and recommended we have it retested. I said ok, but the radon mitigation system resolves that issue. She then said that she doesn't remember ever saying the seller was installing one and that they likely won't. I got really upset and she said she'd recheck with the sellers realtor. I've asked her for follow up information several times since and she's ignoring me. At the time we thought she was a good fit because she's the owner of a prominent realty in town, but she's constantly forgetting dates, details, and gaslighting me. I'm not sure how to proceed at this point. Radon is a serious issue and we went under contract with the belief that a mediation system was being installed. Feeling pissed off! [link] [comments]  |
| Housing development planned and its effect on my property. Posted: 07 Oct 2020 01:53 AM PDT Hey all, My wife and I purchased a home in 2018 in the country. We paid $328k for the property in Ottawa Ontario and the land itself is surrounded on 3 sides by acres and acres of forest and rural land. Earlier this year the city changed the zoning rules to include our area for home development and bids are already starting. There is currently a bid to build 35-45k homes around our house turning the whole country area into another cookie cutter suburb. What will that do for my property value? Our home is a 4 bedroom 2 and a half bath bungalow. Our property is about half an acre in the back. Id rather not live in the suburbs and would likely move farther into the country, when would be the opportune time to sell? Thanks!! [link] [comments]  |
| Can my wife and I use both of our incomes on a mortgage even if I just started a new job? Posted: 06 Oct 2020 09:37 PM PDT My wife and I are wanting to buy our first home. She has been at her place of employment for just over two years. I've just recently start working again after a 2 year gap. Can both of our incomes be considered on a mortgage? [link] [comments]  |
| Agent purchased house without listing Posted: 06 Oct 2020 08:18 AM PDT A great family friend (We always called him Uncle) is about 80 years old and looking to move into an assisted living situation. He's single without any blood family around. He recently called an agent to come out to look his house and start getting it up for sale. The house is older and not in great shape. The real estate agent that he called ended up buying the house from him directly (without listing it) this week at way below market value. Below even what the land is worth. The neighbors actually reached out to us because they over heard the agent outside bragging about how much money he is going to make off the house. That's when we called him and found out the situation. My uncle is nice to a fault and wouldn't know if someone was taking advantage of him. Sadly, he would be a scammers dream. I'm trying to get more exact details. Any thoughts would be great. I'm wondering if there might be legal action too. Edit - this is in Washington state [link] [comments]  |
| Can I buy land for the sole purpose of planting a small orchard/garden? (LA) Posted: 06 Oct 2020 10:01 PM PDT I found a piece of semi-cheap sloped land that has access to water, and it says on the page that you may or may not be allowed to build a house on it. Would I be able to purchase this land and just use it to plant a mini orchard/garden for selling to local restaurants and farmer's markets? Do I need a special license? [link] [comments]  |
| What is "realistic" to ask for by buyers in this market.(OR) Posted: 06 Oct 2020 02:32 PM PDT House on the market with first offer within an hour of listing. Though the deal is now dead because they were asking for way too much including a price reduction of 16k; what seems realistic in this market? We are the only house for sale in our (small) zip code at the price with Beach access and ocean views. We know our roof only has a few years left but otherwise everything has been updated down to siding. Is it reasonable for buyers to ask for new roof or price off house? I want to be fair but seems like its a take what you can get market. What are others seeing? [link] [comments]  |
| Can a married couple also have a co-signer? Posted: 06 Oct 2020 10:47 PM PDT My husband and I want to get a higher home loan amount, can we use his mother as a co-signer? Ideally we'd like to just have the home loan in his name with his mom as a co-signer, without me on the loan, is that an option? We can afford the monthly mortgage payment well enough, it would be around 15-18% of our combined income, but neither of us has long employment history. [link] [comments]  |
| As the seller will I be informed of when the appraisal and how much it came back at? Posted: 06 Oct 2020 07:58 PM PDT I am selling a home and have yet to hear about the appraisal. The buyer "Inspection period" ended exactly a weeks ago. When should I expect to hear from the title company? When the appraisal is completed will I be informed when it is complete and the amount the home appraised for? [link] [comments]  |
| First Time Buyer - Are these fees reasonable? Posted: 06 Oct 2020 03:19 PM PDT High credit rating, quoted 2.625% with an APR of 2.75%. 30 year fixed, 10% down on $325,000. Zero points Lender Costs/Fees * Commitment Fee: $1070 * Appraisal Fee: $450 * Credit Report: $100 * Flood Cert: $12.50 * Loan Cash Credit: $400 (negotiated this as a credit off commitment fee) Title, Recording, Transfer, Other Costs
As I am aware the above fees in Title/Recording are all estimates and my mortgage company has no control. I'm just checking to make sure I am getting a fair deal. Thanks! [link] [comments]  |
| Appraisal waiver but still being charged Posted: 07 Oct 2020 12:24 AM PDT I am currently refinancing and was approved for an appraisal waiver. But my lender still required that I pay the fee before I could lock my rate. They said it would be refunded at closing so I went ahead and paid it. The $550 fee is still showing on my closing estimate and I'm now being told it is "a fee associated with the refinance therefore it is required to remain on the loan estimate. The fee is refunded right after closing." Does this sound correct? Seems off that my settlement docs will show something that is not being paid. [link] [comments]  |
| Meeting with a lawyer over real estate with ex Posted: 07 Oct 2020 12:11 AM PDT I need advice for my meeting with a lawyer about real estate owned with a ex. Sorry it long but thank you for reading!:) I have a an hour with a lawyer on Thursday. I am a 24 y woman, Bought a duplex with a ex boyfriend 3 years ago. •My dad lent us the downpayment. •Since day one I have been the face of •management for the property and got renters for one unit. •Since day one I have paid for and physically done all yard maintenance and snow removal. •We lived in half of the duplex together for 1 year. •He left me, moved state told me to put all utilities in my name. •I couldn't afford the rest of the mortgage so I moved out and rented it out. •we met up in the states and we paid the utilities with the extra income from rented unit. • his bank took out all of the tenants security deposit from our mutual account his name was on for a missed car payment and he never reimbursed it. • I had to terminate a lease for the upstairs tenant for a lost hamster that had to get cut out of the wall. I had to write it up and have my mom serve them. • couldn't find a renter so my dad paid a few mortgages while we were traveling. • about a year ago we broke up and I moved back to the state where the duplex is located. • couldn't find a renter so I found a roommate to pay for most of the rest of mortgage and I moved in. •He was MIA for a entire year while I was managing, paying for utilities and maintaining the property out of my own pocket. •now since the market is good he got a lawyer to force me to sell at 50,000 more than valued price. • currently having to move out and find a renter to cover the rest of the mortgage and utilities. • over the last year the mortgage went up due to back taxes from when he lived in the unit. I paid an extra $3500 over a year in back taxes. •my tenant downstairs is pregnant, has two kids, due November 15th and has auto immune ( I love her and can't stand to think of a inspector or potential buyer coming into their unit during Covid) What can I do? What should I say to my lawyer to be prepared? Never spoke to a lawyer or ever been in a legal battle. He is primary and I am coborrower. Any suggestions??? Thank you I am freaking out a little. I would like the house because I have great credit and could refinance in my name, he has zero credit. But if I can't get it, fine I just want my money back and my tenants to be protected. There is no equity in the house and I don't think we can reasonably make money, realistically I believe we will be paying to sell. He is broke and desperate for money. He has a real estate agent say 50,000 over can be expected but I have had three real estate agents say no. [link] [comments]  |
| (NY) own useless land I can't sell, what to expect in tax foreclosure Posted: 06 Oct 2020 08:23 PM PDT I own a parcel of land I was planning to build a house on, but due to zoning issues I really can't. I'm trying to sell it but not too surprisingly, nobody really wants to own and pay taxes for useless land. Is there some way to return/donate it to the county? Or if I just stop paying taxes on it and they eventually foreclose and take it off my hands, what can I expect? Would it hit my credit? I thought I read somewhere that the credit reporting agencies stopped recording tax liens/foreclosures in 2017/2018? [link] [comments]  |
| Seller wants to keep owned water softener Posted: 06 Oct 2020 06:59 PM PDT I'm a first time home buyer and currently in the option period for a home. The seller wants to take the water softener, which they own and is currently in use and hooked up. How common is this? I really want a water softener and don't want to buy a new one - any tips for negotiating this? Would it be in my best interest to purchase a new one anyway because of warranties? [link] [comments]  |
| Posted: 06 Oct 2020 03:45 PM PDT Quick question. Currently in the works of closing on a house. We are currently in the underwriting process and are set for $29,100 (subject to change with insurance, fee's ect.) Total cash at closing but that amount is getting close to my limit of 30k. We are set to close on a Monday so if that amount does creek up to my limit I would be fine that coming Friday (payday). My question is, will being that tight with money on closing have any issues when it comes to cash reserves being looked at in the underwriting process? Thanks in advance. [link] [comments]  |
| Help! Neighbor drilling holes in the garage that leads through my mom's wall. Posted: 06 Oct 2020 03:02 PM PDT So my mom lives in a townhome in Oregon. Recently her neighbor has drilled holes through his garage wall and those holes lead to an enclosed patio area in front of my moms house. Its not inside of her house, but it is right on the outside of her front door. This is problematic because if my mom wants to sell her portion of the house this could devalue it. Is what my neighbor did legal? Theres no HOA my in my moms neighborhood, so she cannot pursue that route. Technically he's drilling holes through his garage wall but they lead to an alcove outside my mom's front door. Please help. [link] [comments]  |
| Posted: 06 Oct 2020 09:29 PM PDT |
| Posted: 07 Oct 2020 03:21 AM PDT Let's say I am a realtor, working for a broker. I got a lead on a property from my broker and I was asked to work on it. Does it mean that I receive the entirety of the commission, or do I have to split it with my broker? And let's say I work for First Team. Thanks for your guys input. [link] [comments]  |
| Calculate unrecoverable cost of owning a house? Posted: 06 Oct 2020 03:04 PM PDT Trying to assess my situation of Buying vs Renting. Am I on the right track on calculating the unrecoverable cost of owning a house? For a $600,000 home: Tax = $650/mo (City charges 3.66 per dollar for 35% Asset Value) Maintenance = $500/mo (Assumes 1% per year) Insurance, Sewer, Trash = $150/mo Mortgage Interest = $650/mo (Assuming 20% down so $480,000 mortgage, assumes 30yr loan at 3% but pay off in 25 years, total interest is $200,000) Total Cost of house = $1,950/mo (Assuming I'm just stacking cash and not invest it at all so no lost on opportunity cost). [link] [comments]  |
| When to renovate kitchen for rental? Posted: 06 Oct 2020 10:10 PM PDT We are living in a townhouse in Toronto. In about 2 years we will be moving and we hope to be able to keep this townhouse as a rental. The kitchen is outdated and we'd like to renovate it. Would it make more sense financially to do the renovation closer to when we plan on renting it out in order to expense it against rental income? Is there something we should consider when doing this? (We can live with the kitchen) [link] [comments]  |
| How close can another houses roofs be your house? Posted: 06 Oct 2020 10:09 PM PDT I'm looking into purchasing a fixer upper, it checks almost every box that I've placed and is a home that I can see myself living in for 20 or more years (after some small home renovations). The two biggest problems that I can see however is that there is another house who's roof is very close to this house. Like probably less than 12 inches kind of close (I think probably around ~5 inches but I honestly can't tell just from looking at it). It's a single family home not a townhouse. Also the second problem is that there is a tree which is hovering over the roof, the tree is about a foot or two away from the property, but I think this is less minor because you can just trim it or get a permit to demolish where-as you can't just trim or demolish someone's roof. I was wondering how big of a problem this is and does anyone have any experience with a neighbors single family home's roof almost touching theirs? The actual houses are at least 2 feet apart, the roofs however are close, so I assume there is a bit of slanting and these are older homes. Edit: Also if the neighbors roof is hovering over your property, does this give them any claim to your land? [link] [comments]  |
| If I have the keys, can I go to my new house before the time listed on the contract? Posted: 06 Oct 2020 01:22 PM PDT I am closing on my first house on Thursday morning. The contract states that I take possession at 5 PM that day, and my realtor repeated that time when we were discussing closing day, even though she said she'll be giving me the keys that morning. The house is vacant and the contractors have been done with all the work for several days already. Is this 5 PM thing like a wink wink, nudge nudge situation or do I really have to wait until then to go to my house? [link] [comments]  |
| Posted: 07 Oct 2020 01:24 AM PDT I am 18 years old trying to get into real estate. Can anyone tell what type of math is used in real estate? I heard it was mainly algebra. Can anyone verify this? Please and thank you. [link] [comments]  |
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