I'm sick of my agent not listening to me. Real Estate |
- I'm sick of my agent not listening to me.
- They made a counteroffer!
- As a buyer unaffected by low mortgage rates, and looking for low/mid range housing... Is this literally the worst time to be looking to buy? Any tips on making the best of this market?
- Staying 60 days after close
- PSA: Don't like your agent, but have an exclusive contract with them? Ask for another agent in their office.
- Should I?
- Buy or wait?
- Staging
- First offer accepted!
- Lender Freddie Mac Mortgage
- Did COVID make it harder and more expensive to find houses?
- Does change of bond mean change of lease?
- To buy now or to wait?
- Questions from sellers about buyers inspection
- I'd love to place an offer on this duplex. It checks all my boxes but I was wondering if there is anything in particular I should be asking for as the owner has no disclosures and they are placing the inspection report responsibility on the buyer.
- 5 day option period
- First time homebuyer + landlord?
- using funds for cash out refinance to fund down payment on investment property
- Market is stagnant for selling condo/townhome, but need to sell before June 2021 to close on new home construction.
- Combining HELOC with mortgage?
- desperate for a house
- Buying home, offered no contingencies other than financing, and was accepted.
- Lender and IRS
- Best online company/bank for cash-out refinance?
| I'm sick of my agent not listening to me. Posted: 01 Nov 2020 10:32 AM PST Just a rant. I'm looking to buy a larger home and sell the one I have. I have no mortgage debt and it's not an emergency to move, but I want move into town and away from the rural area I'm in now. I know it's a shit time to be looking. My buyer's agent helped us buy our current home and is the predominant local agent in town, so it makes sense to us them again. I'm very clear about what I'm looking for. I want move-in ready, 3-4 beds, 2-3 full baths, 2 car garage, an office, and a basement that is either already finished or can be finished. I'm not picky about the exterior aesthetics so long as it needs no major renovation. Yesterday, my agent tried to talk me into considering a 3 bed, 1.5 bath home with no office that's at the top of my price range (edit of what I'm willing to pay...I can afford at least 50% more). The kicker is that the current owner took it off the market in April because he wasn't able to sell it due to his refusal to allow a buyer inside to see it out of fear from covid. (edit Bonus fuckery...agent tells me the seller who won't let the buyer see the property wants a rent back until they find a new house). I tell my agent (for at least the 5th time) I'm not interested in a home that doesn't meet my basic criteria. The agent starts getting all "but it's beautiful architecture" and "you could add another bathroom" and you could convert the office to a 4th bedroom", blah blah blah. (edit After the agent showed us the old listing, she said, "but don't drive by the house, the owner will get upset." To which I replied, "So it sounds like he doesn't actually want to sell the house".) Why even bring this up? It's not what I want and the seller sounds like a cuckoo bird. I ask the agent, "why would I make an offer on a property without being able to tour it." Agent says, "we can put in the contract you can see it once before closing." WTF. We're not talking about moving to another state, it's across town. I may give up and build something. Update What an amusing way to spend my Sunday. While this thread has been carrying on, the realtor emailed me about another of her expired listings. This time for a 6 bed/ 4 bath duplex that currently has a tenant. It needs a total gut and new roof. It's not a single family home. Like WTF?! I asked her if she was in the Twilight Zone and reiterated my wish list is not malleable (she's not going to talk me into anything). [link] [comments]  |
| Posted: 01 Nov 2020 06:25 PM PST This is the seventh offer I've made in the last six months. Every other time, I would hear back that there are multiple offers and they just wanted everybody's highest and best. Obviously my highest and best has never been THE highest and best. This time I'm the only offer on the table and they came back with an actual number. I still can't believe it. It took everything I had in me not to immediately accept their offer just out of fear of missing the opportunity. This is so stressful and scary, I'm nervous I could screw up this first sliver hope I've throughout this whole process. Tell me I'm not the only one who has felt this way, or something else to get me through until I hear back! [link] [comments]  |
| Posted: 02 Nov 2020 12:48 AM PST |
| Posted: 02 Nov 2020 03:35 AM PST Me and my girlfriend are buying our first house and we found a house that we love. It's a little over what we think it's worth and considering it's been on the market for 4 weeks now and we were the only offer so far we went 20k under asking. Their agent told us that he needs 60s of occupancy after close because the new house that he wants the sellers need 60 days after close. The bank also won't allow him to purchase the new house without accepting an offer on his current home. The seller counter offered and only came down 3k and wanted to pay only $40 a day vs the 1/30th of our mortgage payment which would be around $60 a day. My girlfriend is now worried about the guy staying 60 days after close because he didn't budge at all and got a bad first impression (He divorced 50y/o man recently divorced). With COVID going on if he were to stay longer than the 60 we don't know if we would even been able to evict him. Have you guys ever had to evict someone after close? If so how did it go? And is coming down only 3k and offering the $40 a day a slap in our face? [link] [comments]  |
| Posted: 01 Nov 2020 01:00 PM PST Hey everyone, Just a friendly reminder that your exclusive agreements are likely with the FIRM, not with the Agent. So if you don't like your agent, ask them to switch with another in their firm. This can be done at no extra cost or paperwork. All it takes is a phone call. Hope this helps. [link] [comments]  |
| Posted: 01 Nov 2020 07:30 PM PST I'm having second thoughts about being an agent. I live in NJ, and I know that living in Hudson County could be a good thing for my career. But I've heard a lot of horror stories about how people get into real estate and don't make it past their first year. I have a full time job, but I know real estate will probably consume me. And I'm thinking about the effects it may have on my relationship as we are starting a family.. Any advice from agents?? [link] [comments]  |
| Posted: 01 Nov 2020 09:21 PM PST What are your predictions of the housing market in the next year or two? I'm looking to upgrade my house and I'm unsure if I should do it now or wait until the market is better. I live in the San Diego area if that helps. I'd love to hear your thoughts. I'm very conflicted with what to do. [link] [comments]  |
| Posted: 02 Nov 2020 12:21 AM PST How many people have either staged properties for sale themselves or rented a staging company to do it for them? Did you find that it was worth the extra money and time? We will be selling soon and have a large house, I'm thinking that staging would be the way to go, or having people see it with furniture. Did it make a difference to those of you that have bought recently"? [link] [comments]  |
| Posted: 01 Nov 2020 01:01 PM PST We are buying our first house and the first offer we put in just got accepted! I know we aren't "out of the woods" yet, we still have the whole closing process, but having to only put in 1 offer is unheard of here! On to inspection... [link] [comments]  |
| Posted: 01 Nov 2020 11:12 PM PST So here I am again. Trying to see if I will pass Freddie Mac Mortgage loan. lol Anyway long story, signed closing disclosure in fha but never made it to final approval since no tax transcripts for my ammended return or proof that irs received and accepted my 2018 ammended return. Now, I talk to this mortage company lender, he told me if i am self employed within five years or more, he only needs one year tax return. Im curious if he is really telling me right. I know lenders are different. So I ask him, does he need to run my credit first to see if i really qualify for a one year tax return. He said, yes! He needs to run my credit so he can verify that he only needs a one year tax return. Is he telling the truth? why he needs to run it when im telling him my credit is 750, no debt at all, no history of debt or bad debt, great job and income. I know lenders run credit but why he cannot confirm it himself if i have those good credit. I just need to make sure i can close this time since airbnbng is not fun anymore, tired moving every month. [link] [comments]  |
| Did COVID make it harder and more expensive to find houses? Posted: 02 Nov 2020 02:51 AM PST |
| Does change of bond mean change of lease? Posted: 02 Nov 2020 01:48 AM PST G'day! Signed a change of bond form recently & the manager is making it sound like the people who left & were replaced in the bond have no responsibility to pay. Did signing the change of bond mean that whoever was removed also gets removed from the lease? Location: Australia [link] [comments]  |
| Posted: 01 Nov 2020 07:14 PM PST I would love some thoughts. We are currently renting and have been looking at houses in Texas, DFW area. The idea was to buy something in the $250k range, live there for a couple of years and then rent it out and move to a bigger place. We are at that point where we have several months left on our lease and either have to extend it or get a different place. My husband is leaning towards buying now but I'm skeptical as I'm seeing some people are suggesting the market might be going down in the next year or two plus the market has been crazy hot in our area lately and the prices are going up (which seems strange and I seriously wasn't expecting given current events). I'm afraid of buying something and having it be worth thousands less in a year, but at the same time I'm tired of renting. I know that no one knows for sure what's gonna happen in the future but I would love some thoughts from others. Would you buy now or would you wait? Thank you. [link] [comments]  |
| Questions from sellers about buyers inspection Posted: 01 Nov 2020 06:58 PM PST We have an offer on our house in a suburb of Columbus Ohio. The buyers offered full asking price. We listed our house about 15k less than some of the neighborhood comps because we knew there were some repairs that needed done. The buyers came back after the inspection with about 10k in repair requests. We haven't responded yet. We are in a very hot market. One of the requests is radon. Others are related to leaky faucets, and a few more substantial issues but nothing that will keep them from getting a mortgage. Thoughts? [link] [comments]  |
| Posted: 01 Nov 2020 04:17 PM PST I'm a first time home buyer and I've been looking for a place for the last 6 months in a HCOL area where the market for SFH homes has been red hot. Homes are closing within days at well above asking. However due to the pandemic there is no interest in multi family units to my advantage. I'm planning on placing an offer on this duplex that's been sitting on the market for 200+ days - I have been preapproved from the bank and have the down payment. I plan to live in one unit and rent out the other. The deal is very enticing, I've visited the property and checks all my boxes but I have some concerns. The original owner was a 106 year old woman and the property is now in possession of her 80 year old daughter. There is a chance that the 106 year old woman passed in the home but there is no disclosures and no detail of that. Is that a problem? Also, the trust is making the buyer do all inspections as they have no inspection reports which is understandable but is there anything I need to be concerned about in the home? I know the inspections I bring in will only be able to uncover so much but with no disclosures on the home should I check anything else or ask them to at least confirm anything they can reveal? Thanks much in advance [link] [comments]  |
| Posted: 01 Nov 2020 05:47 PM PST My realtor is wanting us to ask our (potential) buyer to agree to a 5 day option period. We have three offers, and all three buyers are asking for 7 day. Does asking to lower to 5 days scare people off? We already lost our first buyer, because they got scared and backed out during option. I think it was at the top of their price range and after having a couple days to think about the purchase they just panicked and backed out. So this is our second round of offers and I don't want to lose another one...Last time we sold and bought I remember 10 days being standard, so these shorter option periods are kind of intense to me. I know it's a very different market now though. [link] [comments]  |
| First time homebuyer + landlord? Posted: 01 Nov 2020 07:59 PM PST Hi, I am looking to buy my own home, after renting for many years. I have a job, own my own business, my income is about $4,000/mo, going to school for my MBA, and I do have $37,000 in loans. I want to buy a 4 bed/4 bath home. I want to rent out the other 3 bedrooms to pay for the mortgage on the home. I've read that this isn't allowed on a regular home mortgage, and am wondering what loans are best for this purpose? The cost of the home is $120,000, and I have about $15,000 to put down at this very moment. I want to use the 3 rented rooms to cover the mortgage + other home expenses. Thanks! [link] [comments]  |
| using funds for cash out refinance to fund down payment on investment property Posted: 01 Nov 2020 02:29 PM PST currently in contract for an investment property, planning to do a cash out refinance at the same time to fund the down payment: Question: for the cash out refinance will that need to close before we close on investment or can both closings happen on the same day? I am wondering since I am using funds from a cash out refiaince, do i need to deposit the funds in my bank and then close on the investment property? [link] [comments]  |
| Posted: 01 Nov 2020 02:01 PM PST We have been planning to list our townhome in early 2021 so we can procure the rest of a downpayment for a new construction build. Our concern is that the market for condos/townhomes in our area has gone stagnant. Our realtor thinks it is mainly due to the uncertainty around the election and partially the season. Our type of home has always been in good demand but are concerned that we should consider listing sooner than Feb/Mar of 2021 to be able to have it sold before June. Any advice or tips would greatly be appreciated. We also don't want our property to become stale sitting on the market. [link] [comments]  |
| Combining HELOC with mortgage? Posted: 01 Nov 2020 10:03 PM PST Is it possible to combine a HELOC with a mortgage? Is it wise to do so? I know mortgage rates are at historic lows, but housing prices in the areas I'm looking at are high (imo). HELOC rates are higher, but I was thinking of using a HELOC to subsidize the purchase of our new home and pay it down during the draw period so that there would be minimal to nothing left when the payment period began. My husband is retired and wants us to move by summer 2021 and I'm in grad school and work full-time, just to give context. Credit scores are good. Thanks in advance for your thoughts and suggestions! [link] [comments]  |
| Posted: 01 Nov 2020 02:31 PM PST i need to move out by the end of this year. 5th offer just got rejected , we offered 30k above listed price , appraisal gap +5,550. Still nope . is it time to look for apartments ? house hunting sucks & all my hope in finding a house is gone. oh and guess what, our realtor handed us over to another realtor because she's going full time at another job! nothing good is happening in my life at the moment. [link] [comments]  |
| Buying home, offered no contingencies other than financing, and was accepted. Posted: 01 Nov 2020 09:51 PM PST Offered about $30k below asking. Seller is the general contractor who built the entire development and lived in the home for 30 years. Disclosed will need new roof and windows at some point. Getting jitters now. Questions: 1) put my mind at ease; and 2) what are the first things to do once we've moved in? Thanks! [link] [comments]  |
| Posted: 01 Nov 2020 05:58 PM PST Long story short, I was supposed to close an fha mortgage loan last sept 16 2020 but due to no transcripts at all due to irs backlog i did not end up closing. Anyway signed closing disclosure but did not end up closing, SO SAD! So now my lender told me my tax returns are rejected due to a wrong address. I called irs and they told me its not rejected. They are only holding my 2019 return since they need to verify my identity and problem solved. I verify my identity and pass it. So now, my lender is asking me to sign a 4506T again showing my physical address which in all my irs documentations are on my po box address. What to do? Did it happen to anybody here? How long it takes again? Maybe lender are doing a verification on my self employment so they can proceed if i find another house again. I hope so! [link] [comments]  |
| Best online company/bank for cash-out refinance? Posted: 01 Nov 2020 09:18 PM PST Looked in to Quicken loans. Are they good? Any other suggestions? Does it really matter as long as I get the same low interest and additional cash I need? [link] [comments]  |
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