How much of the air/space above my land or home do I own or have rights to? (CA) Real Estate |
- How much of the air/space above my land or home do I own or have rights to? (CA)
- [MI] How do I exclude a person from purchasing a house?
- Do homebuyers seek terrazzo floors? Does restoring terrazzo floors add value to the property?
- Appraisals (CA - LA Area)
- Stuck between a rock and a HUD place
- Question about an inherited mortgage.
- Is a real estate appraiser a good job?
- Buy or Rent...
- Thinking about leaving my corporate life in America to buy a hostel in South America & run it as an Airbnb. Has anyone done something similar? Or know someone who has?
- Thoughts on placing offer on parents home.
- New construction home - Is this mold in the attic?
- Two houses on my property
- NMLS - Texas SML
- (SF Bay Area) What questions can I ask a real estate agent when interviewing to sell a house?
- Making second home a primary residence?
- Geothermal use from old borewell (NC)
- Does it make sense to hold on to my dad's property (Bridgeport, CT)?
- Advice and empathy for a remorseful first time homeowner
- Very Low Home Appraisal
- Writing a letter
- Question - First Mortgage dismisses case but Second Mortgage forecloses and sells property, what are the implications?
- [MS] First-time Buying Land - Bid question
- License Reciprocity
| How much of the air/space above my land or home do I own or have rights to? (CA) Posted: 01 Jan 2021 01:05 AM PST |
| [MI] How do I exclude a person from purchasing a house? Posted: 31 Dec 2020 09:07 AM PST My father in law passed away and we need to sell his house. A quick back-story: Neighbor has bought many of the houses in the neighborhood so we think he may try to buy this house. Neighbor is also a complete tool. He has attempted to sue my FIL on several occasions. One, for example, was because he claimed my FIL was "spying" on him, and sued him for the cost of a privacy fence. Obviously that was thrown out of court. We are VERY concerned that he will buy the house and then sue the estate for every little thing "wrong" with it. He may even create problems to sue for. Yes, we're disclosing everything we are aware of, but we live in TN and have only visited the house. We also realize he can sue for anything, even if it's disclosed and not a valid lawsuit, which will cost us $250/hour for the attorney to handle. And yes, the neighbor will likely attempt something like this. He's petty, and will enjoy wasting the estates money, even if he gets none. Our realtor tells us that if the neighbor makes a full-price offer and we reject it, his realtor could go after us for their part of the sales commission. Right now, our thought is we will reject any offer from him that is not full-price, with no contingencies. But we'd really just rather not accept ANY offer. We are consulting with the attorney to check options (we will likely trespass him from the property so he can't even do a viewing). Is there anything else we can do? EDIT: in case it matters, the neighbor is not in any protected group or class. so there's no way that he could claim discrimination, at least not legally claim it, if we were to reject his offer. EDIT #2: Realtor is wife's cousin, who also happens to have 20 years experience in this market and is consistently in the Top 5 producers in the market. Realtor absolutely has our best interests in mind, and we totally trust them. The statement they made was more like "our contract has a clause saying that if we produce a buyer at your asking price and without contingencies, then if you choose to not sell to them, you would still be liable for paying commission, but I'll make an exception for this person or any LLC that he has an interest in. I've never had this situation before, so I'll have to see if there's any liability to the buyer's agent, but I don't think there is". The realtor was simply offering a potential snag, but said they would double check. I don't think we should be so hard on the realtor, this doesn't seem like a situation that is very common. Clearly, in 20 years, ours hasn't had this question asked. [link] [comments]  |
| Do homebuyers seek terrazzo floors? Does restoring terrazzo floors add value to the property? Posted: 31 Dec 2020 02:40 PM PST We recently purchased a property that has terrazzo flooring. However it has several carpet holes. Is worth paying to have them restored? Does it add value of any kind to the property? I was quoted 7k to fill in the holes, grind, and polish. Is this something people see value in when purchasing a home? All feedback would be appreciated. Thanks! [link] [comments]  |
| Posted: 31 Dec 2020 06:49 PM PST Hi All! I am in LA and everything decent has had multiple offers going significantly higher than list price. For people on here in the LA area who offered way more than list, did your appraisal match up to your offer price? Was it somewhat close? Did the appraiser use recent comps like the last month? Or did they use comps from 5-6 months ago when the market wasn't as hot? My main concern with bidding wars is the appraisal coming in short. I have some extra cash I could put in, but not a huge amount. TIA! [link] [comments]  |
| Stuck between a rock and a HUD place Posted: 31 Dec 2020 02:28 PM PST Thank you for your attention. Located in Texas. We are in the process of trying to purchase a repossessed HUD home. We are owner occupants and won the bid in the initial phase. Due to the holidays, we are now past the back out period. HUD disclosed that there was a unknown leak that was discovered by the utility company (who removed the water meter completely). We have consulted with a plumber we trust and even worst case senario (such as it being under the foundation) we are still willing to move forward knowing the potential cost of having a major problem repaired. We want this house SO BAD. We have emotionally invested into the remodeling we want to do to make this our perfect home. Here's our problem. We requested authorization to turn on the utilities for the lender to do the appraisal required for the mortgage. HUD denied our request to turn on the water. Without the appraisal, we can't get funding (which we would get having great credit, and at an amazing interest rate). Without funding, we aren't willing to go bankrupt by paying cash up front. HUD is preventing us from doing something required by our lender to buy this house. We want this house. Real bad. What do we do? [link] [comments]  |
| Question about an inherited mortgage. Posted: 31 Dec 2020 06:14 PM PST So I am creating a will for the first time in my life and it mainly bc I'm developing a decent amount of equity in my condo. I tried to refinance earlier this year and it was t worth it because I only owe about $70k and banks don't seem interested in refinancing mortgages that low. That got me thinking... if I leave my condo to someone and they decide to keep it instead of selling it - can they just take over the mortgage? How would they keep the place if they wanted it? [link] [comments]  |
| Is a real estate appraiser a good job? Posted: 31 Dec 2020 11:42 PM PST My sisters a real estate agent and she's always talking about how being an appraiser could be a good job for me, she says they make good pay especially if you work for yourself. [link] [comments]  |
| Posted: 01 Jan 2021 02:12 AM PST My wife and I need some advice regarding first time home buying or should we continue renting. We are looking to buy a new build in Georgia, 340k home. We have 33k in savings, combined gross 160k, both have strong 401k's, credit scores are 804 and 760 and have zero debt. We focused the past few years on paying off our student loans and car notes… all while renting. My biggest concerns are my job, the down payment/closing cost and general fear of home ownership. I work for the Federal Gov. and could be moving in 3-4 years, if that happens the Gov. will pay to move me and will buy our home after they have 3 different appraisers conduct appraisals (median value is given), or I can choose to sell on my own. Putting a minimum down payment seems like our only option unless we want to blow through our savings or pull from our 401k's (which I do not want to do). If I knew I would be in this house for 10 plus years I would not have such hesitation, however, with my career and the chance of moving in a few years I am worried I would be under on the house if that time came. We currently spend $1650 a month in rent but our utilities are covered, I am sick of paying rent and do not really want to spend another 3 plus years renting. Should we try and secure an FHA loan? Given our circumstance would it be wise to buy or continue to rent? Any and all advice is welcome… [link] [comments]  |
| Posted: 31 Dec 2020 11:20 AM PST 31, have about 100k saved up, have a nice comfy career as a software engineer ... however I feel like my soul & body is slowly decaying doing this type of work. I need a change. As the title implies, I'd like to buy a humble hostel type property in which I'd live in & rent out on AirBnb to travelers. Would love to hear some firsthand stories if you or anyone you know / know of has done something similar. Thanks. [link] [comments]  |
| Thoughts on placing offer on parents home. Posted: 01 Jan 2021 01:39 AM PST My parents own a house just outside of the town I live in. They have retired and have moved out of the area, however stilll own the house though mostly using for storage. The home has since fallen in horrible disrepair in the years since they have moved away and would cost much more than it's worth to fix it up. The lot is a few acres. I feel like any offer I would give them would be a slap in face because I have a rough idea of what they paid, but feel like it's worth nowhere near that with the home in such disrepair. How should I go about giving them an offer on their property considering that I feel like the property is just worth the land and I would have to pay to demolish the house before I could do anything with it? [link] [comments]  |
| New construction home - Is this mold in the attic? Posted: 31 Dec 2020 09:19 PM PST This came up during my home inspection:https://imgur.com/a/wKs2ZDZ Is this mold? Does it need to be removed/treated? I got a quote for $595 from a local "Mold Solution" company to have it removed. The builder/seller doesn't want to pay for it and said it shouldn't be an issue. He said it is common in that type of lumber and is not mold. (I forgot the exact terms he used). He also mentioned even if it is mold, it wouldn't grow due to lack of moisture and proper ventilation in the attic. [link] [comments]  |
| Posted: 31 Dec 2020 08:47 PM PST So this is going to be quite a ramble, and I'm not even sure what my main question is, but I would really appreciate some comments from some people wiser in this area than I. Please ask questions if I have left any info out; I could only guess at what info was relevant here, and as such, included some stray facts and questions to help explain things. We bought a property in May, consisting of 3 parcels. The large parcel includes our home, but it also has a 2nd home in its "backyard." The second home is much older, and actually faces a road and has its own address. We, of course, live in the nice, newer house. The new one is essentially the house we bought, but now we also own the old home on the property (and paid for it too). But now, we're wondering what to do with it. Our mortgage company has told us that if we add ~18,000 in value to our property, we can refinance with a significantly better interest rate. Even though the second home is not a primary residence (though it is on the property of our primary residence), if we renovate the second house to make it livable, even if no one is presently living in it, can we get a new appraisal of both homes together and increase the total value of the property? Maybe that's my main question there. Stray facts: -- The appraisal that accompanied our buying process referred to the second home (since it was unlivable) as a workshop -- The mother of the previous owner lived in the old home for years; when she died, they moved into it, and subsequently had the new house built on the property. -- The old house was gutted. e.g. it's missing some of the plumbing and fixtures, hot water tank, furnace. -- the old house has its own separate physical address, but the county assessor shows that it's on the same parcel as our own home -- We did have an inspector of sorts give the place a decent once-over, and they reported back that there are some utilities and other necessary updates, but otherwise, though it's dirty and clearly unlived-in for many years, it's got pretty good bones and no foundation issues. Stray questions: -- a dumb one . . . I suppose my property tax paid to the county will go up if we renovate the house up to being livable? -- are there any unforeseen (to me) consequences of owning two livable residences, but only living in one? I'm thinking about confusing the mortgage company, messing up my taxes, etc. (I don't really even know what else. -- what makes a house livable, technically-speaking? Is there even a technical meaning of the word? -- anyone else with a clever idea of what to do with the property? Demolishing would be pricier, and honestly provide little to no benefit. Leaving it there is just a bit of an eyesore, but that's it. [link] [comments]  |
| Posted: 31 Dec 2020 08:42 PM PST Hi! New user here and hopeful future mortgage loan originator in Texas. I took my exam Nov 2020 and began the license application process. Already did fingerprints and submitted request for credit report. Since submitting and attesting my application, my license status shows Pending- Incomplete however, there are no active line items. I've emailed Texas SML licensing department already and no response to email and no updates on NMLS website. Dec. 31, 2020 now and wondering if there is anything else I can/ should do. Am I missing something perhaps? I've gone through all items on left side of screen and navigated through site as best as I can and have not been able to come up with anything. Any advice would be deeply appreciated! [link] [comments]  |
| (SF Bay Area) What questions can I ask a real estate agent when interviewing to sell a house? Posted: 31 Dec 2020 03:43 PM PST I'm a first-time home seller looking to sell my house in the SF Bay Area in the next couple of months. I'm starting the process now and calling some real estate agents in my area. I'm wondering what kind of questions I can ask the agents without getting too intrusive. I don't want them to think I'm trying to squeeze free advice from them. Can I ask how much they think they can sell the house for, how much of a discount they would offer in terms of commissions, what sort of techniques or advantages they would use, what their opinion on what changes the house needs, who their contractors are, etc? Also, are there any other questions I should ask the real estate agents? [link] [comments]  |
| Making second home a primary residence? Posted: 31 Dec 2020 11:42 PM PST Hello, just looking into turning our 2nd home, a cabin in South Lake Tahoe into our primary residence. How is this done? What are the steps? Thank you. [link] [comments]  |
| Geothermal use from old borewell (NC) Posted: 31 Dec 2020 04:00 PM PST I have an old fashioned borewell on my property I was considering capping or filling. As I look into HVAC options I wondered if this thing could be used to offset the cost of a open loop geothermal. any one familiar with this? [link] [comments]  |
| Does it make sense to hold on to my dad's property (Bridgeport, CT)? Posted: 31 Dec 2020 01:47 PM PST My parents bought a very small home in a co-op community in Bridgeport, CT a few years back for $25k. It's about a hundred years old. My dad (homebuilder) is quite handy and was able to get the place in nice condition with a small investment of $2k or so. The best part about this place (for me) is access to NYC by train (1.5 hours). Flash-forward to today. They've torn down the projects across the street from the co-op community. Obviously, home values are going up anyway. The house is now worth $80k-$90k. It costs $4644/year to cover all the expenses of hanging on to this property. I told my dad I could cover them in exchange for inheriting the place one day. Selling it is probably the more logical thing to do, but I thought we should consider hanging on to it since he doesn't need the cash from the sale. My thought is maybe it could be a good store of wealth + a crash pad for whenever we're in the area (2 to 4 times a year). We're not allowed to rent it out because of the co-op. [link] [comments]  |
| Advice and empathy for a remorseful first time homeowner Posted: 31 Dec 2020 11:23 PM PST This past summer I purchased my first house. I was able to do this because I qualified for a grant to go towards my down payment but when the money for this grant was gone, it was gone. This restraint plus the very hot housing market pressured me to find a house and make an offer because houses were lasting maybe a week before they were sold. I had an ideal neighborhood but it was too expensive so I bought in an adjacent "up and coming" neighborhood. My first major disappointment was closing itself. It is a long story but basically the seller showed up, as I was moving into my house, with the police accusing me of breaking into my own house.(He had refused to give me the keys despite "ownership upon closing" and me being a 100% in the right.) Having the seller and his agent (yes his agent) yelling at me and having to explain my right to police was extremely stressful and made me suspicious of everything he had done to the house. I had a thorough inspection done and knew there were major issues like lead paint on the siding. My first month my neighbors' aggressive dog broke through their fence and attacked my puppy. I put up a very sturdy fence which cost 3k then sewage backed up in my basement and I had to make a 10k repair to the plumbing. I did not have this money on hand so am now paying down a loan with a 8% interest as quickly as I can. One item "fixed" before closing was flagged as being not to code by my plumber. Now I am fighting with the other plumbing company to redo the work properly. I still have the lead paint exterior to deal with and I just can't shake the feeling that I have made a horrible mistake. I was told the neighborhood was "up and coming" and several houses were sold here last summer. The house next to me was flipped and sold but I worry that this area won't continue to appreciate. I also feel like I am dumping all my money into this house when the point was to have affordable living while building equity. Any advice or empathy is appreciated. The stress of this is affecting my sleep. [link] [comments]  |
| Posted: 31 Dec 2020 09:42 PM PST My SO any I are under contract for a home in the tri-state area. My real estate agent told us before we bid on this house that it was very overpriced based on the comps she reviewed. The sellers agent made us decide if we want to match another offer they received at 650k. The other offer was an FHA while ours was conventional with 20% down so they chose ours. Fast forward 2 weeks, the appraisal came out at 570k which my team had a feeling this would come back lower. This is a 80k difference and we don't really have the capacity to make up the difference. It seems very silly to me that a seller's agent would risk overpricing a home by so much. wondering how likely this deal may be to fail and what options or offers might allow the contract to proceed and close? in a sellers market, do sellers really hope someone pays this difference above market value? the neighborhood is not particularly attractive [link] [comments]  |
| Posted: 31 Dec 2020 10:14 PM PST Has anyone written a letter about buying property? Or somehow gotten in contact with the owner? I'm searching the CAD and looking people up. Just found the perfect ten acres, but the owner just passed in December. I imagine it would be a sore subject for the family to get a letter now.. but how do you handle asking if someone would sell, period? Not just in this situation. [link] [comments]  |
| Posted: 31 Dec 2020 06:21 PM PST So I'm looking into investing in a condo that is up for sale on my county's website. I searched into the history of the property and there are two mortgages. The first one being a bank and they did indeed start foreclosure proceedings but then decided to "de-accelerate the loan, withdraw its prior demand for immediate payment of all sums secured by the security instrument and re-institutes the loan as an installment loan." The case then closes. I'm not sure the reason for this but it does seem like there were some responses by the HOA/community association and second mortgagor stating their claims were higher than the banks' claim on the property and perhaps the bank withdraw their foreclosure for this reason(although it doesn't make sense to me but thats all there is to go with on the court history)? However there is a second mortgage that's worth about 10% of what the first mortgage is worth. The owner of this mortgage also foreclosed on the property and is what is causing the property to go up for auction. So my question being, if I buy this property, it seems I'm also assuming the payments for the first mortgage? Hope this question makes sense - don't want to go buying a property in case I still have to pay more in the future. [link] [comments]  |
| [MS] First-time Buying Land - Bid question Posted: 31 Dec 2020 06:02 PM PST I'm looking at purchasing a parcel of raw land currently listed at $6500. It's been on the market for a year today, and the appraisal is for $5500. My question is, based on only this information, would $5000 be a reasonable bid, or is it too lowball? Thanks in advance! [link] [comments]  |
| Posted: 31 Dec 2020 05:41 PM PST I currently live in Minnesota and want to get my real estate license, but may move to Texas in the near future. My question is how do I continue doing real estate if I move to another state? Do I have to get another license? [link] [comments]  |
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