Are too many trees next to a house bad? Real Estate |
- Are too many trees next to a house bad?
- Any homebuyers want to share successful negotiation stories?
- Loan to buy a land + build a house
- Any luck with cold approaches when trying to buy a single family home as a first time home buyer?
- When in the buying process does paperwork start to get drawn up and finalized?
- Refinancing home loan now or wait?
- Rodent droppings found on inspection - Sellers not following agreement
- Does an agent have to have an open house BY LAW after adding to MLS?
- Keeping up with listings
- Question about possibly buying land off of local school district
- Realtor Duty of Care to Clients - $8k incorrect estimation of seller proceeds?
- Potentially won't get PMI - loan denial ?
- First time home seller. Would like some feedback on two offers FHA vs Conventional
- USDA Loan and Rental Income
- Renting vs. buying with mediocre credit
- Buying first house with plans of staying for only ~5 years...bad idea?
- (WA state) Signed and down payment on a mobile, what about the title?
- Buying a really cheap (<20k) house? A terrible idea? Whats the cheapest a habitable house can be?
- Is it normal for the title company to use a 3rd party to electronically provide wiring instructions?
- Buying property that pays itself off
- How to view CCR before making an offer?
- Texas On-site Sewer Facility (TAR 1407) Document
- What’s the legal meaning of “As is” within a contract?
- Do You Recommend Dropping Out of College to Pursue Real Estate?
| Are too many trees next to a house bad? Posted: 02 Jan 2021 12:00 PM PST I'm currently house hunting and is thinking about making an offer. My concern is there are a lot of big trees near the house. There are two big trees literally is only 5ft away. I'm not sure what kind of tree they are, but they look mature and is more than 30ft tall. What's the chance that these trees might cause a foundation problem later? [link] [comments]  |
| Any homebuyers want to share successful negotiation stories? Posted: 03 Jan 2021 03:24 AM PST |
| Loan to buy a land + build a house Posted: 03 Jan 2021 03:01 AM PST What are the best loan option for this? I am trying to find a properly, and build right away. [link] [comments]  |
| Any luck with cold approaches when trying to buy a single family home as a first time home buyer? Posted: 02 Jan 2021 03:37 PM PST I'm looking to buy a small single family house for myself to live in, in a really desirable small town. The houses are in the $100,000 range go fast and are competitive. How much luck would I have if I approached a homeowner and asked if they had any plans of selling? Thanks! [link] [comments]  |
| When in the buying process does paperwork start to get drawn up and finalized? Posted: 02 Jan 2021 11:07 PM PST (Picked Closing Issues, but know it's not a real issue atm. But falls in the realm). So I know I'm going to get a lot of lectures on "just wait", but theoretically, when do papers like the loan (maybe) and deed get finalized and official in the buying/closing process? I'm in the process of getting divorced (California) and I'd like to be able to buy a house as soon as possible once it's final. The clock counting down on the 6 months minimum after him being served would be early June. He's motivated and I'm motivated to finalize it as soon as possible, and my lawyers have even told me they think we can get the financial numbers done earlier than the June date (based on what motivation they've seen in their communication with his lawyer), for what ever that means. I know I don't want to put my name on documents until it can clearly and unequivocally say "Jane doe, a single woman". Given that the market picks up in spring, I'm wondering if I can start the process before the divorce is final (say early May when I'll have a better idea of whether or not early June is going to happen), and have a closing date of something not too long after the expected divorce date. I'm looking in a very specific area (I've been watching the neighborhood over the last 12 months, and houses just don't come up that often, usually go to sale pending in a week and close in like 30-45 days; in my first choice neighborhood, there's been something like 5 homes that were for sale the last 12 months ) so I dont want to miss out. I can offer some sort of daily payment to the seller if the closing gets delayed because the divorce gets delayed. I will also likely buy all cash. So without the lectures, help me understand the timing on this so I might be able to jump on a house if something I want comes on the market? [link] [comments]  |
| Refinancing home loan now or wait? Posted: 02 Jan 2021 08:49 PM PST I'm moving interstate at the end of March and I plan to buy a home within the first 3-6 months of moving. I currently own (mortgaged) a home in Melbourne, which I will hold on to as an investment and use some equity to make up part of my deposit on the new home. Should I refinance my exisiting property now to access the equity and hold the cash to top up my deposit or do I wait until I'm ready to buy interstate and do the refinance and new mortgage at the same time? Thanks for reading! [link] [comments]  |
| Rodent droppings found on inspection - Sellers not following agreement Posted: 02 Jan 2021 07:03 PM PST I close on a new home on Monday. During the inspection the inspector found what he thinks were rodent droppings in the attic. We asked the seller to have a rodent inspection & control done. They agreed to have it done and provide receipts of it being completed. Our realtor has asked several times since and they haven't provided anything. Wondering what my options are. I know I can always just not sign on Monday but that seems extreme? Can I ask them to give me money instead since they won't have time to get it completed now? Thanks in advance for the advice! [link] [comments]  |
| Does an agent have to have an open house BY LAW after adding to MLS? Posted: 02 Jan 2021 01:58 PM PST My neighbor just put a For-Sale sign outside his house and I am interested in buying his house for an upgrade. He told me he was thinking of selling last year, but I wasn't sure if it was the right thing for me to do at the time so I didn't say anything. Anyway, we agreed on a price, he wants to sell it to me, but his real estate agent is telling him that BY LAW he has to do an open house because he already added it to MLS. This would be a couple of weeks away, slow everything down for everyone, and I don't know why, the seller will still pay the agent his commission even though he doesn't have to do any work whatsoever. It sounds like the agent is hoping for some kind of bidding war. I am in NY. Has anyone heard of such a rule? [link] [comments]  |
| Posted: 03 Jan 2021 01:17 AM PST For the realtors and real estate investors out there, how do you guys keep up with the latest listings on the MLS? Any tools out there or just manually going through them every day? What's your workflow? [link] [comments]  |
| Question about possibly buying land off of local school district Posted: 03 Jan 2021 12:57 AM PST I live in Ohio on a half acre lot, and the land behind my property is vacant. It's 33 acres of wooded area and not maintained. After doing some research, I found out the land has been owned by my city's public school district since 1975, and I automatically assumed it was not possible to buy a piece of this land. However, there is a house down the street from my house which looks to have an additional 6 plots of land behind it. This family seems to have bought the 0.5 acres of land behind their home plus 5 half acre plots of land behind 5 of their neighbors' homes, which equals to them owning about 3.5 acres of land. I'm basing all of this information off of a public property search for my county and what I assume are the property lines of each of the other properties around my house. I'm interested in the 0.5 acres directly behind my house. Assuming my neighbor did purchase this land from my city school district, and assuming the city school district will not use this land in the future and are willing to sell, could anyone help me out on what steps I could take to possibly inquire about purchasing some land from the school district (or whoever owns it)? Thanks! [link] [comments]  |
| Realtor Duty of Care to Clients - $8k incorrect estimation of seller proceeds? Posted: 02 Jan 2021 08:50 PM PST We recently sold our condo (closing is in two days). In determining whether to accept the offer, we asked our realtor to run the numbers to determine what our estimated seller proceeds would be. We discussed that we would be using the proceeds to purchase a single-family home and wanted to get about $25,000 in profit to use on a downpayment for the next house. The realtor believed that we would get $24,000. We agreed to accept the offer based on his estimation. Today, we received the official letter from the title company with seller proceeds of $8,000 less than what our realtor estimated. We understand that estimation is just a guess, but $8,000 is a big difference. We expected to receive $24,000 but will only be getting $16,000. The numbers in his estimation add up (he sent us a spreadsheet breakdown) but he missed a major debit and I can't figure out what it is, as compared to the title company's final proceed breakdown. My question is - is the realtor's poor financial counsel on whether to accept this offer a failure to meet the minimum duty of care? Is this actionable in any way? [link] [comments]  |
| Potentially won't get PMI - loan denial ? Posted: 02 Jan 2021 06:29 PM PST TL;DR: Is it hard to qualify for a PMI? Is there anything I can do to get approved for PMI? It's the last thing needed to close. Hi all, I was told to hop over here with this question. I was supposed to close on my home last week and it got pushed out a few times. The final problem the lender is having is getting a PMI since I put 5% down. I received final approval for my loan, but just need PMI to close. I was told on Thursday that I just need to put into closing costs a payment toward a credit card which is no big deal for me and I said okay. They said I should be closing early next week. Today I received a call from lending saying actually I do not need to make any payments on that card, but that I may get declined coverage from the PMI because my income is in the form of a fellowship + adjunct pay (I'm a PhD student and adjunct prof) and the PMI doesn't like it. They said if the PMI declines me I'll lose the loan. What can I do? I submitted all my proof of employment with the lender and made it to their final approval. Why would a PMI decline me? I'm very confused and stressed about not being able to have my home when I've just made it to the end of such a stressful homebuying journey. [link] [comments]  |
| First time home seller. Would like some feedback on two offers FHA vs Conventional Posted: 02 Jan 2021 08:21 PM PST I have two offers on my home that I just put on the market. House was listed for 255,000. Offer 1 - FHA 260,000 wants me to pay 1% of their 3.5% down payment Offer 2 - Conventional 255,000 wants 3% back in closing costs. I have a house built in the 1990s. In overall good condition but I do worry about little spots of exterior wood rot on the patio and settling cracks on the patio. I fear that the FHA inspection people will nitpick and require fixing prior to closing. What are your thoughts and experiences. Thank you! [link] [comments]  |
| Posted: 02 Jan 2021 08:17 PM PST I've been researching how USDA Guaranteed Loans calculate the buyer's rental income from a prior property. From what I have read, they take the rental profit/loss. If you are profiting, that is added to your income and the mortgage payment is not added to recurring debts. If you are losing money every month, the difference between the rent and mortgage payment is added to your recurring debts. The property is a duplex, one tenant pays $1200 and the other $1400. The mortgage payment is $1600. I profit $1000 a month before other expenses. I have only owned the property for 1 year now. One requirement I saw, was that you must have the rental income for 2 years. So I'm assuming that will disqualify my profit from the rental property, even though the tenants are in lease agreements. I'm wondering if I am correct in this, or if they will in fact count the income as it will be on my Tax return this year, before applying for the USDA Mortgage? Let's say they do not count the rental income. That's fine. Will they still count the mortgage payment for the rental property against my monthly recurring debt? If they did, that seems it would be extremely unfair as it would be double dipping against me- not counting my income from the property, but then counting the debt from the property. I do meet income qualifications for a USDA Direct Loan in the area I am looking, and it qualifies as rural. [link] [comments]  |
| Renting vs. buying with mediocre credit Posted: 02 Jan 2021 07:36 PM PST So I'm essentially just tired of paying rent for a townhome in Phoenix, AZ. I want to buy a home in the coming future, but just want to weigh my options carefully. Would it be more financially strategic to to just buy SOMETHING with a small down payment and pay PMI, just so I'm building equity ASAP, or would it be better to wait till my FICO 8 is more favorable and use a larger down payment? FICO 8: 621 Experian: 681 Vantage: 662 [link] [comments]  |
| Buying first house with plans of staying for only ~5 years...bad idea? Posted: 02 Jan 2021 05:38 AM PST We plan to be in the area longer but will likely move once our son starts school. Typically speaking does one lose out (vs renting) on buying and selling in a 5-year span? [link] [comments]  |
| (WA state) Signed and down payment on a mobile, what about the title? Posted: 02 Jan 2021 10:43 PM PST Questions for you all, thanks in advance. We recently bought a tiny house in a mobile park (just the structure; renting space). I am curious, I found online that the title transfers as of the down payment, while elsewhere it says the title remains with the seller as a lien on the place until paid off. I can't find anything about a title in the paperwork. Furthermore, the guy possibly mentioned that they didn't have a title but rather needed to obtain one. The seller was the owner of the mobile park who purchased the unit in order to sell and get long term tenants in... So with that in mind I guess you could say I'm not concerned that they weren't the real owners or something shady like that. Additionally, we're curious how (if?) we could go about selling the unit before it's actually paid off. If the price we sell for is greater than what's left than we owe, I suppose that we could pay off the loan (personal loan to the seller btw) and obtain the title to then transfer to the new buyer. Out of curiosity and to confirm my understanding, what happens if we sell for less than what's owed? I would suppose the lienholder (initial seller) would still hold that title until they are paid off by us? That seems like a lot of moving parts. [link] [comments]  |
| Buying a really cheap (<20k) house? A terrible idea? Whats the cheapest a habitable house can be? Posted: 02 Jan 2021 06:43 PM PST What's the cheapest a house can be and still be livable? Not comfortable or nice, just livable. Lately I have been toying with the idea of buying a really inexpensive house, with cash. I have been going on to Realtor .com and searching for the cheapest houses available. There are a bunch in rural Kansas, Illinois and Michigan that are listed between 8k and 20k that look like they could be a fun project. Obviously they are small, old, in need of renovation, in terrible locations, surround by farmland or other decaying buildings, in terrible school districts, not within walking distance of anything, etc. but that is all part of the appeal to me. I really like the idea of living someplace rural and remote. I am more than happy to put in a lot of sweat equity. I want to live cheaply- no rent, no mortgage, low cost of living - so more of my income can go to investments/savings. And I've got at least 10k in the bank, so I could just do it! The houses I have been looking at are listed as a "handyman special" and sold "as is." How bad can they be? Does a $15k house necessarily have some major structural problem? Would they all cost thousands to repair to be legally habitable? What are the options for financing? Getting a 30 year mortgage for such a small amount of money seems absurd -only $52 a month! It has been fun to daydream about, but please, tell me why this is a stupid idea [link] [comments]  |
| Is it normal for the title company to use a 3rd party to electronically provide wiring instructions? Posted: 02 Jan 2021 08:23 AM PST First time homebuyer. I close on a home Tuesday, Jan 5. Concerning avoiding wire fraud. Firstly I plan to call the title company Monday and verify the instructions I received prior to calling the bank to initiate the transfer. Also I will not act on any emails I receive attempting to make any changes to the instructions I have now. My loan officer called me with final closing figures Thursday and instructed me to visit the title company to pick up wiring instructions. I couldn't make it to the title company's location between the time I received final closing figures and when they closed early due to it being a holiday weekend. I called them (used a googled number and it matched the one given me by the loan officer) and the person I talked to said they normally use a 3rd party service, CertifID, to provide wiring instructions. I provided my email and phone number and received instructions to verify my identity and received the wiring instructions with the routing and account # etc. I relayed this to my loan officer, who wasn't concerned. I just wanted to get another perspective on this from others in the industry. Has the Covid-19 pandemic made it normal to not physically pick up wiring instructions from the brick and mortar location and instead rely on 3rd party services to give instructions? From my understanding most fraud happens through email. Again, I'll be calling the title company Monday to verify I received the correct information before initiating the wire transfer. [link] [comments]  |
| Buying property that pays itself off Posted: 02 Jan 2021 10:11 PM PST Hello, noob here.I've been watching a lot of real estate shows lately (lol) and I've always thought of the future. I'm 24 yrs. Old, make about 135k a year and saving as much as I can. Currently I have 65k saved up in investments and was planning to buy a house soon and thought why not buy 2 properties while in theory only paying for 1 house. while watching this real estate show called Caribbean life I thought about buying a house to be rented out. My train of thought is that I won't be going into this thinking I'm going to get rich off of real estate but more of renting out a property and at-least breaking even on its expenses. An example of my plan would be buying a house that has a mortgage of $1,500 for 20 years and renting it out for say $2000. This would cover the mortgage and extra for the repairs and upkeep. As the years pass would this not mean that someone else payed for me to have a house? Like if I buy a villa / penthouse in Dubai and rent it out to say air BnB, would this not mean that I can have a vacation home for "free" as the mortgage, utilities and upkeep are payed for by renters. [link] [comments]  |
| How to view CCR before making an offer? Posted: 02 Jan 2021 10:03 PM PST I'm interested in a parcel of vacant land and need to see the CCRs to determine whether it's worth making an offer. The realtor denied my request to see restrictions and says they'll be available after an offer is made. Some of the restrictions for other properties have been minimum 2000sq ft build. I live alone and intend to build 1500sq ft max. How can I obtain the CCRs without enlisting a real estate attorney to submit an offer? [link] [comments]  |
| Texas On-site Sewer Facility (TAR 1407) Document Posted: 02 Jan 2021 06:12 PM PST Does anyone know if an "Information About On-site Sewer Facility" or TAR 1407 document is legally required to be provided in a real estate transaction when using a standard residential TREC No. 20-14 contract? [link] [comments]  |
| What’s the legal meaning of “As is” within a contract? Posted: 02 Jan 2021 06:09 PM PST Does selling a house "as is" automatically negate a buyers right to an inspection/right to walk away if they find something they don't like during an inspection? I was talking to an agent I really trust who was giving me off the record advice. She said if I'm buying a house as is, I can still get out of the contract after inspection. Apparently most seller's agents don't write in specifically that the buyer waives right to back out based on inspection / that it's for information only and if it says simply "as is" that doesn't supersede my right to an inspection (Iowa, by the way). Is this true? [link] [comments]  |
| Do You Recommend Dropping Out of College to Pursue Real Estate? Posted: 02 Jan 2021 09:46 PM PST I am 19, a freshman in college, and have been interested in pursuing real estate for a couple years. My dad is the head of a real estate group and has been for as long as I have been alive. I thoroughly enjoy college and it has been a great experience even with all of the covid restrictions, but I feel that I can learn most of the useful information that I have been taught somewhere online. I know you do not need a degree to get a real estate license so my thinking was to major in finance to get some knowledge that would complement my future real estate endeavors. My parents pay for a chunk of my college but I still have to come up with a good amount and receive some loans and I really do not want to dig myself into a financial hole if I don't need to. I was planning to start educating myself more on real estate anyways while classes started back up again, but now I'm seriously contemplating dropping out and focusing completely on learning the skills I need to grow. Any recommendations are welcome, I just want to hear advice for the future! [link] [comments]  |
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