Realtor is Suggesting We Skip Walkthrough...Need Advice. Real Estate |
- Realtor is Suggesting We Skip Walkthrough...Need Advice.
- How can you avoid buying an apartment on a building that might collapse?
- Redfin favorite status update emails are the best
- I wanted to write a letter to the seller along with my offer. But the listing agent whose also representing me, says it’s against the Fair Housing Act. Any thoughts?
- Canada May be approaching a buyers market?
- Realtor’s Role
- New Home Builder hit me with $2K in Hidden Costs - Pre-bid. Seems like an Ethics violation
- Seller provided me notice to perform 48 hours after accepting my offer (California)
- Company wants me to relocate to Toronto Canada. They are responsible for the rent+living fees. What implications does this have on my consumer/tenant protection laws and how will it affect taxes?
- Looking to buy a home in the next 6 months. Where do I start? What are the steps?
- Purchasing Property with Landing Strip
- How much commission does the agent actually keep?
- Buy Now or Wait
- Seller wants to keep EMD after underappraised
- In today's current market, is it still reasonable to ask seller for repairs?
- Home in my area list price is $499k. Apparently there are "cash" offers over list price and I need to write at least asking price to be considered according to the listing agent whose also representing me. What should I do in this scenario?
- Should I still go through with it?
- A blessing or a curse? Help pls
- iBuyers in Chicago suburbs?
- Found amazing home but seller wants 12 month leaseback while they build
- Selling home by owner.
- Appraiser Trainee - TN
- Selling Agent Bluffing Higher Offer After Major Issue Reported?
- What does California paying 100% back rent do to the future of the California housing market?
| Realtor is Suggesting We Skip Walkthrough...Need Advice. Posted: 27 Jun 2021 01:15 PM PDT We are in escrow for a home and close next week. The sellers have 4 weeks rent-back (It was the only way to beat other buyers offers, I don't need to be told it's a bad idea). When we asked our realtor when we schedule the walk through, she said: "With rent back no walk through prior to close (handing over of the keys). We just get keys at possession" This doesn't seem right to me. There were no repairs to be done, and chances of them sabotaging anything is slim - but I'd still like to go through and make sure they do things like clear our the attic of their stuff. Any advice? Thanks EDIT: Thank you for your responses. We will do a walkthrough before closing. Our contract doesn't mention it, so it's not not allowed. It will make us feel better, and while our feelings may not be super important to our agent, their feelings (in this manner) are not super important to me. That sounds cold, doesn't it? :) [link] [comments]  |
| How can you avoid buying an apartment on a building that might collapse? Posted: 27 Jun 2021 07:03 PM PDT Until now, I had never thought about the building itself for the inspection. Sure, you inspected the apartment but the assumption is that the building will withstand the years. So, after Miami. How do you avoid something like that happening to you? [link] [comments]  |
| Redfin favorite status update emails are the best Posted: 27 Jun 2021 07:21 AM PDT I've put offers in on some places and didn't get them, I clicked the heart button on the Redfin app and now I get emails about what the houses I lost out on actually sold for. One place I was the backup offer, but when I heard the original offer backed out after the inspection I didn't want to put in the same offer so I passed. It was listed at 360k, I offered 400k no contingencies, they picked another offer with a higher offer and 6 month rent back. They backed out and I said no and it went back on the market. It sold last week for 365k, just 5k over list price lmao. After I put in the offer I looked up if there were any permits and they pulled one for 30k for basement structural support column replacements, I'm guessing the inspection may have found something wrong with it. Sometimes it's good you didn't get the house! [link] [comments]  |
| Posted: 27 Jun 2021 07:35 PM PDT The house I'm interested at is priced at $499k. I was planning to do a full price offer with 5% down. The offer is going get written up tonight, having the listing agent represent me. The girl at the office says they don't present letters because it's biased and discriminatory in California. She tells me there's lot of offers above asking price and cash offers. I feel like even if there is, they shouldn't disclose that. Isn't that illegal too lol. Should I just find a different agent to work with? [link] [comments]  |
| Canada May be approaching a buyers market? Posted: 27 Jun 2021 07:21 PM PDT "While housing markets across Canada remain very active, we now have two months of moderating activity in the books, and that goes for demand, supply and prices," stated Cliff Stevenson, Chair of CREA. Source: https://creastats.crea.ca/en-CA/ "There are signs that the spike in prices has peaked, whether it is in Ontario's cottage country or Atlantic Canada. Therefore, if people are diving into the real estate market now and pay way over the asking price, it is more than likely that they will not experience the same level of growth. As a result, many new homeowners will be stuck with negative equity on their properties for many years to come." Source: https://blog.remax.ca/the-blind-bidding-debate-in-canadian-real-estate/ "The seasonally adjusted aggregate SNLR fell to 75.4 percent in May. It was the fourth consecutive month to see the ratio slip, which is now down 15.4 points from the January high." Source: https://betterdwelling.com/canadian-real-estate-markets-are-seeing-a-big-shift-as-buyers-drop-faster-than-sellers/ Price dropping each month.. "The $688,000 figure is down from $696,000 in April and just over $716,000 in March, which suggests that while comparisons to the early days of COVID show a red-hot market, it is in fact cooling." Source: https://www.cbc.ca/news/business/crea-may-housing-stats-1.6065969 [link] [comments]  |
| Posted: 27 Jun 2021 08:38 PM PDT Why do a lot of realtors think they're running a business now from their couch? They put forth very little effort it seems. They lure you in to work with them then you don't hear from again. "Here work with my showing agent" or "I have an on call showing agent". Everything is a team. I signed up to work with you not your random pyramid employee. They never do any work to find houses or send me anything either. They just auto email houses in MLS and wait for me to send them listings. Also I ask about areas like neighborhoods, schools , communities , etc but "they can't share info or opinions". I just don't get their role. Very lazy profession anymore. [link] [comments]  |
| New Home Builder hit me with $2K in Hidden Costs - Pre-bid. Seems like an Ethics violation Posted: 28 Jun 2021 03:51 AM PDT Pulte homes — has a bidding program where they have a Drawing and you enter by submitting an Offer. Your Offer includes some questions - and an additional Lot Premium Bid - on top of the Builder Lot Premium. You also include your anticipated amount you will spend on Options - and your Elevation choice. So I submitted an Offer and won. After winning - when signing the sales agreement - the builder hits me with $2000 in mandatory structural options - because it's a Corner Lot. They add on a little feature of rock siding to the side of the house because it's a corner lot. This cost was completely hidden to me - until the sales agent mentioned it when I signed the agreement. I feel this should have been included in their lot premium - since it's required for the corner lot. I feel this was a misrepresentation and it was a hidden cost. Do I have any recourse? Is this an ethics violation? Should I threaten to file a formal complaint if they do not absorb that cost themselves ? I want to write a very direct email - but I also want to make sure I word it correctly and threaten the appropriate action. I also don't want them to refuse to sell to me either. But I don't feel like it's fair for them to Hide Costs. [link] [comments]  |
| Seller provided me notice to perform 48 hours after accepting my offer (California) Posted: 28 Jun 2021 12:05 AM PDT After multiple counters, I (buyer) and seller of a property agreed upon terms on 6/25, with a signed agreement. Essentially i'm now on the clock to sell my current property. Terms of my and seller agreement: - close escrow 35 days - RPA14B to be 12 days - COP2a to be 12 days - COP to be removed in 24 days My property was listed on MLS immediately. Multiple tours so far, no written offers yet. Tonight, 6/27, my buying agent received a Notice to perform, dated 6/26, with the box checked "Closing Escrow on buyers property". Terms: "BUYER: If you do not remove the specified contingency(ies) (C.A.R. Forms CR or RR) and take the specified contractual actions indicated above within 2 (or ) Days After Delivery (but no less than the time specified in the Agreement) of this Notice to Buyer to Perform, Seller may cancel the Agreement." My Buying Agent is interpreting this as i have 2 days from when seller signed to remove contigencies, meaning close escrow, which is not possible without selling my current property. Advice welcome. Does seller's Notice to Perform alter the agreed upon terms? PS: Speculation is selling party received a better offer after entering contract with me, so Notice to Perform was provided with intent to give me 2 days to fund escrow, or drop me. Thank you- [link] [comments]  |
| Posted: 27 Jun 2021 10:13 PM PDT Hello everyone, A bit of background information. My company wants me to relocate to Toronto for work and right now I live 4 provinces away. I don't mind moving, I've actually been looking forward to city living and this is a great opportunity to expand my horizon. However, I have a slight concern regarding tenant protection laws if the lease is going to be signed under the company name. Or, is it possible that the lease be put under my name, but the company still pays for it, and therefore can use it as a deductible? Also, what are the implications on my personal taxes? Thank you so much! [link] [comments]  |
| Looking to buy a home in the next 6 months. Where do I start? What are the steps? Posted: 27 Jun 2021 05:04 PM PDT So here I am. I'm finally the correct combination of sick of renting + confident about staying in this location that i've decided to start looking to buy. I know that 20% down payment is the typically quoted number to save, so step one, I save saved that amount and then some for a home in what i think is my price range. But now i'm sort of at a loss for what to do next... the process is completely new to me, I don't even know what step two is! Some background info:
Not sure if that info helps. But I like to work procedurally, so I just need to know step two haha. Even just some online resources that have been vetted by people on this sub would be extremely helpful! But any thoughts and guidance at all would be greatly appreciated! [link] [comments]  |
| Purchasing Property with Landing Strip Posted: 27 Jun 2021 03:10 PM PDT We are looking at a ~70 acre property with an FAA approved airstrip but we would want to get rid of the landing strip because it's on what is really the only portion that can be farmed or built on (because it's flat) and hasn't been maintained. Our realtor said they weren't sure but they thought once an airstrip was approved that it couldn't be removed. Does anyone know if it is possible to remove it and if so does anyone have any experience with cost/process/things to look out for with removing an airstrip? [link] [comments]  |
| How much commission does the agent actually keep? Posted: 27 Jun 2021 10:21 PM PDT The agents often take 1.5-2.5% of the sale price as commission but most agents are working for an agency. How much commission does the agent personally pocket and how much goes to the agency? [link] [comments]  |
| Posted: 27 Jun 2021 07:32 PM PDT Hey all I'm very new to this so if I sound like an idiot it's probably because I am one. Here is some essential facts that you probably need to know.
So biggest concern is you guessed it "Is it the right time to buy?" I've heard so much about how much of a seller's market it is and how people are getting offers for houses 30% higher than what they paid for them a couple years back. If this were a forever home situation I could see maybe wanting to strike now, but the fact of the matter is a lot can change in my life where it could cause me to have to sell the house later down the line. I plan on getting married at some point and having kids and I don't want to sell the house for a huge loss knowing how hot the market is right now. So I just want to know is the market going to get better or is now the time to buy because prices are only going to get more and more egregious? [link] [comments]  |
| Seller wants to keep EMD after underappraised Posted: 27 Jun 2021 02:57 PM PDT We were under contract for a house. The appraisal didn't finish until closing day. It took over 30 days for them to complete the appraisal. It came in $20k short. We want to buy the house but need my mother in law to wire us money as a gift for the difference which the broker said is fine since they already sourced her accounts. She's in a different country so the wires take a day or so. Seller now wants to back out and keep the EMD even though we are okay with paying the gap, and we told them, and we want to buy the house, just a few days later. What recourse do we have? [link] [comments]  |
| In today's current market, is it still reasonable to ask seller for repairs? Posted: 27 Jun 2021 09:05 AM PDT We are buyers and will be attending the inspection on Tuesday (6/29). Currently, with the market leaning more towards the seller's favor, is it still normal/okay to ask sellers to do all/most of the repairs? Or are sellers rejecting to do repairs now? We're first time home buyers, and so do not have any experience. We just want the closing process to go smoothly, especially since it's been rough (getting outbid, rejected offers, etc.). [link] [comments]  |
| Posted: 28 Jun 2021 03:09 AM PDT I currently am looking to buy a home that's a fixer, in a very hot market. The property I'm looking at once fixed up, we'd look to see it valued at $620k, as the house down the street same floorpan has sold for that price back in February. I guess my question is should I offer from the $499k-$525k range? I was thinking if this home just doesn't happen to workout for me, I want to net a good profit too. I don't want to be buying this home for more than what it's worth. I want to net a profit of like $60k or so at least from this transaction. Given this home is going to need $50k worth of repairs. It's only 900 sq ft. Very small home but so many repairs needed. The seller has provided a complete report of the inspection they done for the property as well. When I told my newly found agent, whose also the listing agent for this home, that I want to offer less she give me this look. Lol. I said ok then I think I'll just do full price asking at $499k, with 5% down conventional. And then she asked me to send proof of funds when she emails me the offer and said no letter is acceptable. I wanted to personally write a letter to the seller, but it is considered against the Fair Housing Act. But proof of funds really? Isn't that too early in this stage to provide that? Why would I waste anyone's time if I can't buy. She didn't even write up my offer and have it sent to me til 11:50PM at night. Which makes me feel like she's not even taking my offer seriously. Should I up my offer or something? What do you guys think? [link] [comments]  |
| Should I still go through with it? Posted: 27 Jun 2021 11:02 PM PDT My fiance and I got pre approved for a USDA loan. There's a crazy list of requirements that the property needs to meet. One of the requirements is that the septic tank needs to be 100 feet from the house? Lolwut? That is the most unreasonable thing I ever had. Basically means that our offer just went to shit. I live in PA had anyone else had this by passed by any chance? It's it worth it to go through with an inspection and appraisal or will it most definitely not be ignored? [link] [comments]  |
| A blessing or a curse? Help pls Posted: 27 Jun 2021 09:50 PM PDT My grandma has is giving me her old property as well an empty lot next door. I'm a recent college graduate and I am starting my career in the coming week!! I'm not necessarily in a position to invest in property as much as I'd like. I'm looking into renovating the existing house and them living there myself while I save. I'd like to build next door. After doing some research I found that the lot is zoned in a multifamily capable zone. Is this investment worth it? Building a home from the ground up feels very daunting… if anyone has any advice or similar experiences I'd apprehending it [link] [comments]  |
| Posted: 27 Jun 2021 09:05 PM PDT Does any one know of any reputable iBuyers in Chicagoland? As far as I know Zillow offers, Redfin Now, Opendoor or Offerpad don't operate here. If anyone has any firsthand experience with an iBuyer around here please let me know. Thanks! [link] [comments]  |
| Found amazing home but seller wants 12 month leaseback while they build Posted: 27 Jun 2021 12:50 PM PDT We found an amazing off-market home. It's everything we are looking for, but the sellers are building and want a 12-month leaseback. We are currently renting and willing to continue renting while their home is built. My concern comes down to mortgage rates. I want to take advantage of the current rates, but I think a common stipulation with lenders is that it must be your primary residence (at least for the lowest rates on a conventional loan). Does anyone have experience with long-term leasebacks for a home that you intend to eventually be your primary residence. Thanks for any advice. [link] [comments]  |
| Posted: 27 Jun 2021 05:02 PM PDT We posted it on Facebook two days ago and have had nine showings and one offer, but it's not looking like the buyer will be able to obtain financing. It goes live on zillow tomorrow and I'm hoping to sell it quickly, obviously. I was wondering as to how long people usually wait to follow up and make an offer or see it again after initially seeing it. Any advice or knowledge shared would be greatly appreciated this is my first home sale. Thanks. [link] [comments]  |
| Posted: 27 Jun 2021 08:27 PM PDT Hello! I'm in TN and looking to start as a part time trainee. I work 7-3:30 for my full time job, but I've been wanting a career change for years. I have a solid amount of experience working with reimbursement and utilization review in my field. I would plan to keep my full time job until appraising could be sustainable income. What would be expected pay per appraisal for a trainee in TN? Also from start to finish how long does the average appraisal take? I.e. travel, time at property, and time on compiling reports. Lastly, who would you recommend for coursework? [link] [comments]  |
| Selling Agent Bluffing Higher Offer After Major Issue Reported? Posted: 27 Jun 2021 02:12 PM PDT Following home inspection mold was found in the basement. Mold inspection report sent to selling agent. Selling agent responds with "we have an investor offering more than what you paid and willing to take care of the mold issue without a credit." They accepted my offer and I was the highest bidder, now after the fact they're claiming there is some mystery buyer. Either that's true and i'm screwed and have to just pay for it myself or they are bluffing and I would like to find out how to call them out without risking the deal falling through. I've reached out to my lawyer and am waiting for response but I'm too eager and asking for the internet's advice, thanks. [link] [comments]  |
| What does California paying 100% back rent do to the future of the California housing market? Posted: 27 Jun 2021 11:50 PM PDT |
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