VA appraisal came above the offer price! Real Estate |
- VA appraisal came above the offer price!
- 64% of millennials regret buying home in current market, survey shows
- My realtor tells me that all sellers are rejecting VA loans for conventional or cash buyers. What do I do?
- Just bought a second house and sold our first home in the Seattle area. AMA
- Well, finally have a nightmare tenant - need some help
- If you could rent for a bit, would you?
- Mountain View home sale sets new record, sold at nearly $1 million over asking
- Can I end my lease without penalty? (Florida)
- Can I force a seller to give me a copy of the engineering plans?
- Did I get ripped off by Tri Pointe Homes when buying solar panels on new construction?
- Realtor Issues, this one is a treat from the start!!
- Switching Lenders in Competitive Market?
- wtf - way over priced wtf is going on here
- Home Equities on Investment properties and listed properties.
- Closing date delayed many weeks
- Need help on understanding property tax. Florida.
- Waiving inspection contingency?
- Under contract- during final walk through, noticed odd foundation work. What do I have here?
- In escrow, real estate agent sending me other homes
- [CA] How to find a decent realtor to help me sell a parcel of vacant land?
- How can we recieve "reimbursements" for a termination of sale?
- Cabinet upgrades...worth it?
- How much of a case do we have?
- How do appraisers take into account market trend?
VA appraisal came above the offer price! Posted: 02 Jun 2021 05:55 PM PDT Great news! Just got an email from my VA loan officer that my house has appraised $1k more than the offer price. This has been the last hurdle and I'm now very excited to close in a few days! [link] [comments] |
64% of millennials regret buying home in current market, survey shows Posted: 02 Jun 2021 05:24 AM PDT I can't link it here, but it's easy enough to Google (Bankrate conducted the survey). Some key takeaways:
Speculating for a moment, I think such a high level of buyer's remorse might be a large contributing factor to a market correction in the very near future. Prices are starting to plateau in many markets, and people who bought before the latest surge in prices (i.e in early/mid 2020) may try to unload their houses en masse, since they've appreciated enough to at least recoup closing costs and if they're lucky, a year's worth of maintenance costs/taxes/other fixed costs. Such a huge flood of inventory would snowball, as more and more people try to sell as quickly as possible to avoid selling at a loss, flooding the market with inventory and driving prices down. If that happens, I don't see them rising again as precipitously as they did in 2021, since the market will be wiser and more cautious. [link] [comments] |
Posted: 02 Jun 2021 06:20 PM PDT I'm honestly at a loss for words , I kept asking for showings from my realtor and he's telling me that I'll probably end up having to pay someone to cash up the house for a fee or do a rent to own, I got approved for 250k which is about as good for shit if this is true. I am so discouraged. [link] [comments] |
Just bought a second house and sold our first home in the Seattle area. AMA Posted: 02 Jun 2021 09:34 PM PDT We've got a new baby in 2020 and no longer fit into our old house. The timing was terrible - we are in the Seattle area and the market is crazy here (well, even more than usual) - people have to bid 100-300K over asking and waive everything to win a dream house.We ended up buying one for the asking price and just went into the mutual agreement on the old one for ~8% over asking. If we didn't have to upgrade I'd give up months ago. The process
Learnings:
Happy to answer any questions, unless it reveals my identity. Good luck with your buying/selling! Edit: grammar/typos [link] [comments] |
Well, finally have a nightmare tenant - need some help Posted: 03 Jun 2021 04:19 AM PDT I have contacted a couple of lawyers over the last few days - heard nothing back yet. So, have a tenant who's lease has expired and refused all new attempts to sign a lease. Literally just says nope, I'm not signing. New drama is his ex girlfriend has reappeared and she's a heroin addict. My other tenant in a different apartment has a young daughter. Last night from 1am to 4am the upstairs drug addict tenant were screaming, banging, throwing stuff etc. Police came, it quieted down. I'm not sure how to even get eviction rolling. This heroin addict doesn't even live there it's his "guest". Without a lease, how do I prove this? Also, the tenant I want out has a full time job etc so is the moratorium during covid still applicable to him? Any prods in the right direction would be helpful. I'm in upstate Ny btw. [link] [comments] |
If you could rent for a bit, would you? Posted: 02 Jun 2021 07:06 PM PDT My wife and I are getting ready to list our house in CO next week. We expect for it to move rather quickly based on everything. We're moving back home to TN, but given the market right now would it be wise to rent for a while until the market slows down a bit? Our friend (who is a realtor in TN) has told us horror stories of people offering $150,000 over asking and still losing out. This environment doesn't interest me at all. Should we just put our equity in the bank, rent for a few months to a year and then look at buying? Do you expect the market to calm down in a few months or are prices only going to continue to rise and we'll get priced out? What's your best guestimate? [link] [comments] |
Mountain View home sale sets new record, sold at nearly $1 million over asking Posted: 02 Jun 2021 11:45 PM PDT Remodeled 7-bedroom house in Waverly Park neighborhood sells for $5.477 million in just six days [link] [comments] |
Can I end my lease without penalty? (Florida) Posted: 03 Jun 2021 04:37 AM PDT I signed a year lease back in November for a studio apt. It's infested with termites, they have been consistently swarming since April and now the termites are in my furniture too. I've told the property management people and the real estate person handling the lease (I never got a contact for the owner of the apt) They've sent an exterminator to do spot treatments three times but still the problem persists. Even the exterminator clearly told me that tenting the building is the only real solution. I have everything in writing. I have told them multiple times how bad the situation is and they just send the guy for a spot treatment and that does nothing. I don't want to live in these conditions anymore. I've tried to communicate the issue but nothing has been resolved and it's been months at this point. Would I be able to end my lease without penalty in this case? [link] [comments] |
Can I force a seller to give me a copy of the engineering plans? Posted: 02 Jun 2021 09:59 PM PDT I'm buying a new custom-built home, and the home builder has shown me enough red flags for me to be overly cautious. The slab concrete foundation (not post-tensioned) has a 0.25" wise crack near the rear patio, so I asked for the engineering plans, specifically the foundation plans. They've ignored all requests from myself and my agent. I added the request to the list of repairs, but they denied that request saying that the plans belong to the seller's "partner". Also, the city does not have a copy on file. I'm more concerned about their silence and failure to reply to any requests. What can I do and should I be overly concerned? More context:
[link] [comments] |
Did I get ripped off by Tri Pointe Homes when buying solar panels on new construction? Posted: 02 Jun 2021 10:41 PM PDT Just bought new construction in California from Tri Pointe Homes, and found out earlier today from my solar panel activation application to PG&E that the "System Cost paid by the Customer" (me) is $19,338. However, the builder charged me $22,400 for the "Solar 4.6 Kw System Purchase" on my Buyer Option Order. Is it normal for the construction company to mark up the price by that much? Will I be eligible to get a refund from them for the price difference? Just want to find out whether I was cheated, or if this is standard protocol. I would really appreciate any insight. Thanks! Vivian [link] [comments] |
Realtor Issues, this one is a treat from the start!! Posted: 02 Jun 2021 07:57 PM PDT Get a load of this! So my fiancé and I recently bought a house, we are in a small rental house and we were able to snag an outdated older persons fixer upper at a good price in this market. Coincidentally my landlord called us the same week we bought the house and told us he was selling the rental we were in. He's a great guy and we've had a great relationship over our 4 years of renting. Anyway, he tells us we will have the weekend and a few days to clean up, cut grass etc. Again he is a great guy so we want to clean the house, and we had already rented a small dumpster to clean the junk out of the basement and garage. Even without cleaning the place it is looking/smelling 10x better than when we moved in, the landlord even expressed this a year ago when he came to fix something. This Realtor text us the day my landlord contacts us and tell us she is coming in a few hours to take pictures. We obviously told her no and called my landlord to confirm we have a few days to clean. He's was as confused as we are by her haste-fullness and told her to wait. A few day of cleaning later she is coming to take pictures. First thing first, she is 45 minutes late, with one text at the 20 minute mark that she was on her way. When she arrives she greets OUR NEIGHBORS. We are confused about their conversation and figure they are friends or something. NOPE, she is showing them the house with zero notice to us because she "figured we had a relationship with them." Which we have a "Hello" relationship, but that's it. I confront her about this after the showing and she brushes me off like she doesn't even see me and asks me about what doors we lock in the house. She then tells us she won't be listing the house for at least 2 days, then lists it the next morning. This bitch is straight treating us like trash because we are tenants and she thinks we deserve no respect. Side note, my landlord is selling 15 FUCKING HOUSES with this lady! I texted her, for visual proof, telling her she is unprofessional and that it is unacceptable the way she is treating us. She rebuttals back basically saying she has been communicating just fine and that it's not a big deal our neighbors were over. So I have no choose but to text the landlord. He basically says that is unacceptable and that he will handle it. I got a text from her a few minutes later apologizing for everything but it was obviously a "I'm sorry I got caught"... I get the market is stressful right now but what the fuck is this lady, mid 40's and is an experienced realtor, treating the people living in the houses she is selling like shit. She is risking losing over a dozen houses and/or future houses he may sell because you think you are better than the people renting this place? Me and my fiancé are both working professionals and can't believe someone can treat people like that, especially at their job. She knows they will sell, why be so pushy? Especially when you have people who want to clean up to make pictures look nice? Sorry for the rant, but I figured someone would relate! [link] [comments] |
Switching Lenders in Competitive Market? Posted: 02 Jun 2021 11:29 PM PDT Looking for some advice from others who have worked in a very competitive market (bay area). I'm a first time home buyer. Just yesterday we had an offer approved after going 50k over asking price (830k). Our realtor worked very closely with a local lender who she has a close relationship with in getting our offer approved. However, when I tried asking the local lender what the rate estimate would be for us, she never gave a straight answer. Now that offer is accepted, the lender told us that our rate would be 3.4%, which is considerably higher than the estimates I had previously found online. To double check, I called up another national lender to see what they could offer (I previously got pre approved with them) and they came in at 3% after going through all of the details, and assured me they could close on time since we're only one day in to escrow. I brought this to my agent, but she's pushing back, saying that if we switch the lender now, it will scare off the buyer, and we might lose the house. My gut reaction was that my agent is just trying to keep the partnership with the local lender, but we have also gotten word that the buyer has since received multiple offers for over 850k, so I'm worried that there really is some added risk to changing lenders now. I'd like to take advantage of lower rates, but the thought of losing the house over this is making me sick. Knowing that the seller has multiple other options, would changing lenders really open us up to risk of losing the house? [link] [comments] |
wtf - way over priced wtf is going on here Posted: 02 Jun 2021 10:16 PM PDT So i know the real estate market in california is way out of control but I was looking at home prices near me to gauge the value of my home and there was a recent sale according to realtor.com for a house smaller than mine, same size yard, same interior type nothing out of the ordinary. but it sold for 960k while everything similar and comparable in the area is all 300-450k. what the hell happened here? is this someone laundering money? Is it someone trying to really kick start the regentrification of the negbhooor? tihs is a crap neghobhood here like crack head crazy tweakers and homeless wandering through here. how is this even possible? https://www.zillow.com/homedetails/175-Arden-Way-Sacramento-CA-95815/26089417_zpid/ [link] [comments] |
Home Equities on Investment properties and listed properties. Posted: 03 Jun 2021 05:12 AM PDT For years I searched for a lender who can do home equities for investment properties and on home that are listed for sale. From time to time these solutions were the only option for some of my clients. Finally I switched banks last year and now I can do both! Anyone else ever look for these two NO cost options because their clients need or asked for them? Anyone have similar products or services that are not normally available? [link] [comments] |
Closing date delayed many weeks Posted: 02 Jun 2021 10:13 PM PDT We're selling a house and we were supposed to close soon, but the appraisal came in low and the buyer is going to shop for a new loan. This will push us out for a month potentially. My realtor says there's not much we can do, because the wording in the contract says closing date "on or about" June xx and that courts have traditionally held 30 days from that date to be reasonable given the "about" wording. If I cancel, they'll get their earnest money back if they were unable to obtain a loan for the amount specified in the contingency. And even though I can probably find a new buyer immediately (reasonably hot market) it will still be at least 30 days to close. Should I really just sit on my hands for another few weeks? [link] [comments] |
Need help on understanding property tax. Florida. Posted: 03 Jun 2021 04:10 AM PDT So I'm looking to buy a house and everywhere i see it says property tax is like 1.08% or around that of your homes value per year. but when my realtor tells me what the taxes are he's telling me its like double per month what i see and understand from me looking up the houses. am I wrong or is he not taking into account homestead exemption because this will be my permanent house. thanks. [link] [comments] |
Waiving inspection contingency? Posted: 03 Jun 2021 04:07 AM PDT We want to put an offer in on a house we saw in upstate NY. We brought our friend who is an electrician with us when we saw the house. The house is 91 years old. Our realtor basically said if we want to get a house we cannot have an inspection. We asked if we could put put in the offer that we won't hold sellers liable for any fixes or just looking for major issues and he said that isnt a thing. I really don't want to waive the inspection. Any advice? This will also be my first house. [link] [comments] |
Under contract- during final walk through, noticed odd foundation work. What do I have here? Posted: 02 Jun 2021 09:48 PM PDT So today during our final walkthrough I noticed the house had a crawl space. After poking around I noticed the foundation looked to be slab concrete, with a section of cinder blocks. Directly above the cinder block section, on the main floor of the house is a wood fireplace and the chimney. The house was built in the late 70's. We are not in a market where inspections are common. Is the slab/cinder mix normal, somewhat normal or way out of left field? How concerned should I be? Here is a picture: [link] [comments] |
In escrow, real estate agent sending me other homes Posted: 02 Jun 2021 09:08 PM PDT My husband and I are really upset as we put an offer an a home and our offer got accepted. The twist is there is a contingency on seller finding a replacement home. We love this home and really wish it to be ours. We know the sellers are serious about moving and they are putting offers on homes left and right but it's not looking good so far. It will be a month since the seller accepted our offer on the 12th of this month. Our realtor sent us a home and said she just wants us to have options. What's the likelihood we'll get this home has anyone ever had any experiences like ours? [link] [comments] |
[CA] How to find a decent realtor to help me sell a parcel of vacant land? Posted: 02 Jun 2021 11:18 PM PDT Long time lurker here. I have a 20 acre parcel of vacant land in rural CA that I want to sell and I think I need to get help from a realtor to make sure I get all the documentation right. It should be a pretty simple transaction. I'm looking for suggestions.
Thanks! [link] [comments] |
How can we recieve "reimbursements" for a termination of sale? Posted: 02 Jun 2021 08:40 PM PDT Hi All, im looking for some advice on what to do to get back money we have lost. Some of the details of the sale are just on what I remember as it is my parents transaction and I was just fed small details. Background: We decided to put our house on the market late February, and got a bite on the 2nd week of March. We officially signed the first of the contract around the last week of March after home inspection with the buyer and all the other stuff. Repair amendment signed second week of April. Closing was supposed to be on May 19th, and the buyer told us to move out ASAP before the closing date, which we did. We asked for an extension so we could find a place to live, but they denied our request. So we found a less than desirable place after being denied to multiple rentals and settled for a mobile home (in which we have not paid yet). They Extended the closing date to May 26th, so we asked for $500 to pay for the 1st month rent on the trailer property. They asked for another extension to June 4th after not meeting the previous closing date, and in return, we would get $1800 for our month rent on our house that we are selling. Now today, they have asked to terminate the sale, and we are now down $10k due to us adding another room in the trailer. Now, the sellers of the trailer are asking for the money which we dont have. What can my parents do to atleast recoup some of the money they spent? [link] [comments] |
Posted: 02 Jun 2021 08:30 PM PDT Question...standard builder cabinets are birch. I can. Upgrade to maple for 5k more. Is it worth it for a different type of wood? If we do maple they offer painting them. Bitch that isn't an option. Is that wood hard to paint? Thanks! [link] [comments] |
How much of a case do we have? Posted: 02 Jun 2021 06:01 AM PDT In March my husband and I purchased a home that was an obvious flip. The paint, the floors and the "modern" light fixtures gave it away. While I was anti-flip when home shopping, this location was perfect and on land. I personally love the layout of the house and thought I can always update the flip part to how I like as time goes on. This house was the top of our budget but we decided to go for it. 3 months later, the basement floods terribly. The roof over the garage is flat. The flippers put a new roof on it but water has leaked from it almost instantly in many places. There is water coming in from the west side as well. My husband tore out the new drywall in the garage to find that they covered up huge problems. (Active termites & a falling wall with rotting beams to support it) The house was advertised with a new metal roof which was a huge selling point for us. Well the roof over the house leaks. We had a professional that specializes in metal roofs come out and say it was installed incorrectly and gave us a quote to fix it. The master shower was pooling water in our downstairs finished basement. My husband noticed and tore out the ceiling to find out they completely installed the shower wrong. Water and mold were everywhere. The window in the finished basement was installed incorrectly as well. Water has been seeping through onto the carpet. And there was no window well cover installed so water comes through the well and now our finished basement is covered in mold. My husband reached out to the contractor on Facebook and he claims zero responsibility for the roof and garage saying it was installed properly. He is open to checking out the shower. I made my husband cancel to appointment to have him come check it out because we met this man at our final walk through and he was aggressive. My husband wants to sue but we don't have a lot of money. He is handy so he thinks he can fix it all himself but wants monetary compensation. I'm at a loss wondering if we even have a case against him. Any thoughts? [link] [comments] |
How do appraisers take into account market trend? Posted: 02 Jun 2021 04:04 PM PDT My appraisal came back low - you can see my previous post about all the issues with it, but I wanted to ask specifically about market trend. The appraiser chose the first comp on a house sold 8 months ago. Comps 2 and 3 are from houses sold 2 months ago. Anyone not living under a rock should know house prices have increased dramatically, to the tune of 10-15% in the last year, or about 1% a month. The appraiser's report did not make any adjustment for this at all. The appraisal actually came back LOWER than the most similar comp. Currently listed homes are higher than my house's price. It's like the most glaring issue with the report that this appraiser did not take increasing house prices into account. Unfortunately there aren't many comparable homes sold in the area. Why is there no quantified adjustment made for market trend? [link] [comments] |
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