I got my real estate exam tomorrow, so nervous Real Estate |
- I got my real estate exam tomorrow, so nervous
- Accidentally allowed a hard credit check before mortgage refi
- Danes Get 20-Year 0% Mortgages
- If you started your career in real estate all over, what would you do differently in the beginning?
- Is 2.875% a good rate
- Square footage during appraisal - Minnesota
- Any Advice Welcomed, Please
- KB Homes - What the heck is actually their “standard” included features? (Las Vegas, Nevada)
- Question regarding possible monthly fees?
- Raised rent after 2 years and I’m being threatened with court?
- Home Equity Loan advice
- Advice on first purchase / mortgage
- Lender question: Is flood insurance required when only land is in the flood zone?
- [ADVICE?] Dad's verbal agreement to fix up & sell his neighbors house/mobile home
- How much has real estate ACTUALLY changed during covid?
- Daily Newsletter suggestions?
- Fees when selling a Spanish property?
- First Time Home Buyer Considering USDA Guaranteed Loan.
- Wanted some advice for investing in Chicago/greater area.
- Sewer scope inspection?
- Townhouse—good idea?
- Chose and agent but services are being provided by a co-realtor?
- Can a buyer ask to set a long closing date on a business?
- A real estate agent is telling me to over bid.
- HOA's fidelity bond too low, loan canceled?
| I got my real estate exam tomorrow, so nervous Posted: 05 Jan 2021 10:01 PM PST I've been wanting to get into real estate for a while now and I finally went ahead and started my coursework via real estate express back in September I completed my 75 hours of coursework towards the end of November and unfortunately the closest exam date I could get was January 6th so I went almost 2 months just studying on and off trying to retain as much information as possible and keep actively studying. I been studying extra hard this past week trying to figure out my strong subjects and my weaker subjects. I believe I'm prepared for tomorrow but I'm also extremely nervous as I'm still not confident 100% in everything like the math aspects of the exam. I start my exam tomorrow at 9am (so actually just 9 hours from me making this post) and I couldn't be more excited and more nervous to see how I do and I just hope to god I pass my first try. [link] [comments]  |
| Accidentally allowed a hard credit check before mortgage refi Posted: 05 Jan 2021 09:01 PM PST Hi all, My wife and I are refinancing our house and closing on Friday. I was window shopping student loan refinances last night with soft credit checks on 2 different sites. I must've messed up because long story short, one of them ended up being a hard credit check. I know enough not to mess with my credit score by opening new accounts, increasing my debt-to-income ratio etc... would a hard credit check cause any problems? I know I should've just waited, but here I am working myself up and stressing out. My credit score is excellent, so I don't see why a hit to my score of a few points would be a problem... any insights? Thanks in advance. [link] [comments]  |
| Danes Get 20-Year 0% Mortgages Posted: 05 Jan 2021 06:09 PM PST |
| If you started your career in real estate all over, what would you do differently in the beginning? Posted: 05 Jan 2021 06:49 AM PST |
| Posted: 05 Jan 2021 03:18 PM PST I'm buying my first investment property and they said the loan is locked in at 2.875% 30 year term. I'm just curious is that a decent interest rate? [link] [comments]  |
| Square footage during appraisal - Minnesota Posted: 05 Jan 2021 06:51 PM PST My parents are selling their home in Minnesota and the next step is the home appraisal. There are some areas of the home that do not have finish trim i.e. around doors or baseboard. They were told that if the trim isn't complete then that room won't be counted towards the square footage of the house and that it may not appraise to the value of the sale. This concerns me because they accepted a lower offer on the home to sell as is to avoid doing some of that work. Does anyone have any documentation that would back up this claim in Minnesota that trim is needed for an appraisal to include the square footage of the room? [link] [comments]  |
| Posted: 06 Jan 2021 01:45 AM PST Hello, all! I have lived in my current (and first; near and dear to my heart for that reason) home for close to five and a half years now. Recently, I've had some questionable things happen in my neighborhood that have left me feeling unsafe and quite anxious as a single female. After the last episode, the idea of moving came up. My parents have continuously told me that I can't ever think of leaving here until I build enough equity, but feeling safe seems greater than all the rules from their generation. I've reached out to a real estate agent, who definitely agrees while the market may be hotter for selling right now, there's not much on the market as far as buying goes right now. She's hopeful for the spring, though. Perhaps the idea of moving is drastic, which is why I was hoping for an outsider's opinion. I've reached out to a few neighbors up the road (I live in a rural area) and they've said living here certainly isn't what it used to be. Stealing as well as drug activity have been present and I don't see this stopping. This makes me think my property value could depreciate and now may be the time to make a change if I'm going to, even if it terrifies me now. I've toyed with the idea of buying a small piece of land and building a very modest house, but know that can add up quickly, too, especially with building costs due to the pandemic. I am (only; I say only for financial purposes, not because teachers are only teachers 🙃) a teacher and certainly don't make a lot of money, but could hopefully swing a house in the $150,000-$170,000 range. I'd need to reach out to a lender for another approval. While it wouldn't be ideal, would it be better to go ahead and get my house on the market, given that they're selling at full price or even higher, even if I don't have somewhere immediately of my own? My parents may not like me moving into the guest bedroom for the time being, but I know would accept it if they had to. Thoughts? Thank you all in advance for your wisdom! [link] [comments]  |
| KB Homes - What the heck is actually their “standard” included features? (Las Vegas, Nevada) Posted: 05 Jan 2021 09:30 PM PST Can someone please tell me generally what their base home standard features are? I know it may be different depending on area. But is the first floor carpet/tile, etc? What appliances are included if any? No one from sales has gotten back to me via email and I'm really curious. I am probably not going to get upgraded floors through the builder that's why I ask. Richmond Homes in my area at least has a list of standard included features but I can't find it anywhere on KB's website anymore. I swear they used to have a link to a sheet but it's not there anymore. I know, a lot of people hate KB Homes. We have family that purchased from them before and no issues. I live in a tough market and KB Homes is coming out with a new community in my desired neighborhood and within our budget. Their little article on what's included in the base price of a new home is absolutely useless [link] [comments]  |
| Question regarding possible monthly fees? Posted: 06 Jan 2021 04:41 AM PST A bit new to understanding how home buying processes work here and I have a quick question. For a lets say 600k dollar home (if it was purchased cash) how much would utilities, home owners insurance, property taxes and maybe HOA dues bring the monthly fee to? I know there's a lot of factors that determine this but just a guess would be good enough just to wrap my head around it somewhat, thanks! [link] [comments]  |
| Raised rent after 2 years and I’m being threatened with court? Posted: 06 Jan 2021 04:39 AM PST I own a house in NYC where the rent for 3 bedrooms 2.5 bathrooms is 2,700-3,000$. One of our apartments is 2 floors with 3 beds 2.5 baths with a huge living area. A couple years ago we had the place rented out for $1700. When the rate was around $2,400. Now 2020 it's $1900 and we can't afford to loose that much more. Instead of asking for the common rate we asked for $2,300 and now we being threatened with court! Does she have a case here? Any questions I will answer honestly! [link] [comments]  |
| Posted: 06 Jan 2021 04:36 AM PST We want to update the home we have been in for 32 yrs, with plans to sell it in Spring, 2022. It's a large, older home & will probably take a year to do the work we want done. We have decided on takin out a home equity loan is the best plan. I basically would like feedback on any possible problems that might occur with this type of loan? [link] [comments]  |
| Advice on first purchase / mortgage Posted: 05 Jan 2021 08:58 PM PST Here are the numbers: I'm 38, single male, I have about $400,000 saved up and I just put an offer down on a $740,000 2 BR apartment in a Coop in Brooklyn NY 11201 I'll need a $340,000 mortgage and I have been pre-approved by CitizensOne bank for a FNMA 30 YEAR FIXED. the HOA on the apartment is $1450 a month which includes taxes, etc, so I'll be paying about $2700 monthly. Which is about what I pay now for my 1BR in the same neighborhood. I have a few questions that I'm trying to verify before I pull the trigger:
Any other advice I should know? Thank you [link] [comments]  |
| Lender question: Is flood insurance required when only land is in the flood zone? Posted: 05 Jan 2021 07:14 PM PST Situation: I am considering purchasing a property (land with home) which is 4.3 acres. 0.6 acres of the property is in flood zone with a stream running through it. The stream is 348 feet from the edge of the house, at an elevation of 22 feet. The closest edge of the flood zone, to the house, is 302 feet at 22 feet of elevation. Question: If I purchase this property in cash, I understand that I will not be required to have flood insurance. However, if I wanted to get a HELOC in the future, would I need flood insurance if all structures remained outside of the flood zone? Edit: Here's an image of the property. The blue area is zone AE. https://i.imgur.com/W68zSY1.jpg [link] [comments]  |
| [ADVICE?] Dad's verbal agreement to fix up & sell his neighbors house/mobile home Posted: 05 Jan 2021 05:46 PM PST So here's a funny one: I was recently catching up with my 70+ year old Dad, who lives in Alaska, when he announced to me that he was "selling his neighbors house for her." Now to understand why upon hearing this I immediately imagined myself choking him, you have to understand the kind of person my dad is: he has a heart of gold. He's always doing favors for people in his neighborhood; shoveling their driveway, driving them to their appointments, loaning them money. The only problem is rarely does any of this get paid back. He has, not only a charitable nature, but a trusting one as well. And it's because of his nature that he's always getting himself into these "handshake agreements" where he does work for someone in exchange for some future monetary return (that conveniently isn't in writing), which of course, often never comes. Cue now. So the finer details of this particular situation are thus: he's got a neighbor (call her: Kiko) who for personal reasons recently moved out of her house (it's actually a mobile home, in a mobile home park, but I'll continue to call it a house for simplicity sake) and into an apartment. My dad has often helped Kiko in the past by doing handyman work on her house for her. She also wants to sell the house, however the house isn't in the greatest condition and needs some fixing up before it's ready for sale. The "deal" my Dad and Kiko came up with (according to my Dad) is that he will fix up the house enough so it will get a decent sale price, and then sell it for her, and in exchange for this he takes whatever profit there is from the sale price after $10,000 (In other words, he fixes up the house , sells it, Kiko, who is the house owner, get's the first $10k from the sale price, and my Dad gets any money above that). Of course, NONE of this is in writing and my dad is also not any kind of real estate agent, licensed or otherwise, nor has he, to my knowledge, ever even sold a house, or mobile home for that matter. Currently he's putting new doors on and doing some painting inside the house, all at his own cost (although he probably got the doors and paint for almost nothing at Lowes or something) and labor, and expects that it'll take him about a month to complete the work. He said so far he's had one buyer on the line, but they changed their mind and he made the mistake of not getting a down payment. Lesson learned, he says. Right. But wait, there's more! Because Kiko is struggling financially, my Dad agreed to pay her rent for the house this month, which is why he wants to get the work done asap. Keep in mind my dad is a guy who has no other form of income besides his social security, which I struggle to keep him from giving away to one neighbor or another half the time anyway. That's pretty much it. He thinks he's got a decent chunk of money coming to him when he fixes it up and gets a good sale price. I'm kind of at a loss. I haven't looked at what mobile homes are going for in that area so it's certainly possible that when he fixes it up it'll go for a decent bit more than $10,000, but I see no guarantees that he would get any of that. Unless a verbal agreement is binding in Alaska? He did say something about him being able to put a lien on the house if he wasn't paid, which sounds reasonable, but I don't know anything about, that and it sounds like something that would still be based on some kind of written contract. It sounds to me like he's set himself up to be taken advantage of by doing a bunch of work for someone and then not getting paid for it afterward, which would definitely not be the first time for him. Thoughts? What questions should I even be asking him here? Again, no part of the agreement he has with his neighbor about either the work he's doing on the house or what profit he's entitled to when he sells the house is in any kind of contractual form save verbal. Are there any paperwork forms I can send him so he can get this in writing? What else should he be looking out for? TLDR: Dad (in Alaska) is fixing up and selling his neighbors mobile home. His verbal agreement with the neighbor/owner is that the neighbor/owner gets the first $10,000 of the sale price and Dad get's any money after that. So for example, if my Dad can sell it for $15,000, the neighbor gets $10,000 and my Dad get's $5,000. Nothing is in writing and I'm afraid of him being taken advantage of. [link] [comments]  |
| How much has real estate ACTUALLY changed during covid? Posted: 05 Jan 2021 03:20 PM PST Are people still meeting often in person or has a lot of work moved to being remote? [link] [comments]  |
| Posted: 05 Jan 2021 10:35 PM PST Hi all, I live in NY and I am looking for a daily Newsletter that I can sign up for to news sent to me daily. Something like the Morning Brew (for those familiar) but specifically geared towards real estate. Any suggestions? [link] [comments]  |
| Fees when selling a Spanish property? Posted: 05 Jan 2021 10:34 PM PST Can anyone provide a list of ballpark expenses and taxes involved for a British person selling a Spanish property? [link] [comments]  |
| First Time Home Buyer Considering USDA Guaranteed Loan. Posted: 05 Jan 2021 10:32 PM PST I checked my income and I meet moderate level range. Has anyone worked with USDA before? What was your experience? Is their turn around rate very slow ? [link] [comments]  |
| Wanted some advice for investing in Chicago/greater area. Posted: 05 Jan 2021 09:41 PM PST I'm just starting out with investing and would like some help if anyone had any to offer. I know the basics, more or less looking for just some advice or tips, being on the Chicago area would be even better, but anything is appreciated! Some connections here would be great too!! Thanks! [link] [comments]  |
| Posted: 05 Jan 2021 02:17 PM PST Hello all, I had a question for those of you who are more experienced here. I am now in the inspection period for a house. Everything went well in the inspection, a few small things, but nothing major came up. The inspector noted that there was no sump pump installed and that he highly recommends one being installed. He also told me he highly recommends a sewer scope inspection because the house is over 20 years old. The house was built in 1956. But back then, the house was on a well and you can see in the basement where the well pipes used to be. Now I'm not sure when sewer was ran through this house, but since it's on the same street as an elementary school, it might have been awhile? There was no trees on the property really and no tree roots can be seen. Everything in the house seems to drain just fine (we had the shower, washer, and all sinks going at the same time) and things were fine. I'm just not sure if this is a scam or if this is something potential buyers do in addition to a regular inspection since I've never heard of it before? Thanks! Any advice is appreciated. [link] [comments]  |
| Posted: 05 Jan 2021 12:47 PM PST My fiancé and I cannot afford a house right now but we don't want to throw money at the wind on an apartment when we have the means to afford a townhouse. But I've heard some people say townhomes/condos are not a good idea because they're really hard to sell due to them all looking similar. I would love some advice/thoughts on this. Thx💛💛 Edit: sorry I should have shared before. This is referring to Utah and we'd like to live somewhere in Salt Lake County or Utah County. I imagine it would be 3-5 years as we want something bigger when we start having kids. We have the option of living in my parents basement to save for a house so we may go that route. [link] [comments]  |
| Chose and agent but services are being provided by a co-realtor? Posted: 05 Jan 2021 09:15 AM PST Hi I have had my townhouse listed since late September. I chose a realtor that I liked who is popular in my city and has a team of realtors under his umbrela. After about two weeks he told me he would be away for a week and would have his partner (realtor) show me some properties during that time and answer my calls/texts. It has remained this way for 3 months with my actual realtor engaging only a few times. My place isn't selling and I feel like this junior realtor has basically taken over all customer service activities. He is a nice, professional person... but it's not who I hired. I don't think he has many listings and I'm not sure if he is salaried or something but appears to do all the work... answers all my texts, calls, inquiries etc Is this normal? I frankly have considered just terminating my contract. I didn't hire this other person .. and my place isn't selling Edit: I called the realtors office after having no response by text/phone from his personal cell phone since before Xmas . His assistant/receptionist told me, in a "here's the dirt" way that my realtor spends 3 months of the year in Europe and has been away on vacation since Late October. I contacted a real estate lawyer willing to review the contract I signed. I'll post back with details. Not sure why my question has been downvoted but I think it's obvious that I've not received the level of service I expected from my realtor. [link] [comments]  |
| Can a buyer ask to set a long closing date on a business? Posted: 05 Jan 2021 11:25 PM PST I was wondering if it's possible to set a lengthy closing date as part of a buying offer. Looking into an outright purchase (no lenders, no mortgage) but do not need the building for at least 6 to 9 months, maybe more, and the seller is also a retiree in no real rush to sell so probably doesn't 'need' to sell fast. I am considering offering the asking price as a bargaining chip in return for the delayed close in order to finish up on other business first which is nowhere near that new location. [link] [comments]  |
| A real estate agent is telling me to over bid. Posted: 05 Jan 2021 11:19 PM PST How can I be sure that the overbid is actually necessary and not just the real estate agent trying to get a bigger check? [link] [comments]  |
| HOA's fidelity bond too low, loan canceled? Posted: 05 Jan 2021 10:25 PM PST 25 days into the closing process, the lender at a big bank says that the insurance underwriting fails because the HOA's fidelity bond insurance coverage is too low. All other parts of the loan are completely fine. Is there any way I can mitigate this myself? What would you do? [link] [comments]  |
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