Terrible new home purchase process with Lennar (CA) Real Estate |
- Terrible new home purchase process with Lennar (CA)
- Housing prices up 250 percent in some areas.
- Switching teams within Title Insurance/Escrow company during home purchase
- Closed escrow 1 month ago. The listing agent put flyers in the whole neighborhood's mailboxes (including mine) using photos of my home and saying (I sold this home for top dollar, I can sell yours too". Is this common practice?
- Update to a home we under bid on
- "After Collapse, Hot Florida Market Faces Uncertainty."
- Payday?
- How long did it take you to transition towards becoming a full time realtor?
- Best way to deal with slow contractors or to incentive them to get the job done after paying deposits?
- Everything that can go wrong with an inspection unrelated to the house
- Condo next to a fire station
- Price Drop Carlsbad, CA
- Stay far away from Amerisave Mortgage
- Hello everyone, I’m 20 years old and wanting to get into real estate.
- A few questions on the construction loan
- Does the ability to build a home on vacant land increase the lands value?
- Do not waive off Inspection Contingency..
- Getting a mortgage with <2 years stable 1099 income
- Is it worth becoming a Real Estate agent?
- Can I be both a Realtor and a Home Inspector for my client?
- Can someone look at my map site for the house I’m building and share their thoughts?
- Received cash offer with 120 day closing.
- Ok question for all of you Austin real estate folks...
- Title company hasn't yet send me the settlement statement and closing documents
| Terrible new home purchase process with Lennar (CA) Posted: 06 Jul 2021 01:53 PM PDT I just wanted to my experience with Lennar since I wish I'd seen something similar when I searched the sub. They are developing new homes in the area I'm interested in for a potential November move-in. They started selling months in advance of the homes being built. They initially offered $5k worth of incentives to my purchase if we came in without an agent. We talked over not brining an agent with friends who have very recently purchased a new development and had a great experience without an agent (they got the extra incentives promised and overall were very happy), so we decided to go for the incentives and not bring our agent. We tour the model homes, liked two models, and liked one of them more than the other. It was lottery based and we got picked for the model we liked a little less but decide to go ahead with it anyway. Obviously they didn't negotiate on the price but when I asked for the $5k incentives, they said they were no longer offering that. STILL we went ahead thinking "what's 5k if we're getting a nice house at the end, we'll deal". The sales agent then tells us we have until the end of the day to drop off our deposit check or they will sell to someone else since they don't have the clearances to wire transfer at the moment. We explained that we need a few days since that would be a 10 hour round trip drive for us and we are willing to do a wire-transfer but he didn't budge and we ended up doing the drive since we wanted the house. Fast forward to a few weeks later, the check still hasn't been deposited so the drive was unnecessary, and they finally send us the purchase agreement. Now they're saying we have 24 hours to sign the purchase agreement but they will not be making any changes to the agreement. We either sign it as is or they sell to someone else and we don't even get the time to ask a contract lawyer since we don't have a few days to do this. We asked for more time to read the 100 page contract or get our agent involved since we aren't getting an incentive, but they said no to that too. Overall, the agent hasn't been answering our questions, has been really misogynistic and condescending. He can't even answer basic questions about the lot size for the yard. This has been the worst experience and we probably won't be going through with the purchase with their high pressure/scare tactics and this all feels really unethical to me. Lennar is out to take advantage of buyers and I would recommend bringing an agent no matter what incentives they offer you or, better yet, not buying from them if you have other options. [link] [comments]  |
| Housing prices up 250 percent in some areas. Posted: 06 Jul 2021 07:56 PM PDT I was browsing Redfin and noticed some houses bought in 2019 for 29k are now asking 99k. The area was country Mississippi which accounts for the price. My concern is the offer is pending and since it most likely a cash offer it will go through. Once it does this valuation in that area will be permanent. Am I correct in think this? [link] [comments]  |
| Switching teams within Title Insurance/Escrow company during home purchase Posted: 07 Jul 2021 01:11 AM PDT I was hoping to get some advice on whether a home buyer can request switching to a new team within the Title Insurance company? We're about a week away from closing and I'll like to do this. There was some delay in the title verification process on the seller's side and I've called the title company about 4 times over a couple of weeks to get an update and the person who pics up says they'll relay the info to the Escrow Closer, but that person hasn't been calling me back or replying to emails. When I called the Title Insurance company and asked a manager to switch the team handling our account/title from the office an hour away to our local office 15 mins from our house. The customer service has just been really bad and the first team has been non responsive. I just got an email from the manager saying: "We reached out to the listing agent about your request and they are not interested in moving teams. They do not want any unnecessary delay in closing. Please chat with your agent if you need to push on this." I thought that I, as the buyer, was hiring and paying for the Title Insurance company's services. Can the listing agent stop us from switching teams like this? [link] [comments]  |
| Posted: 06 Jul 2021 05:11 PM PDT I guess it caught me off guard. Is this something agents usually do? It's weird seeing my home photos and information (sale price) being advertised to everyone in the neighborhood. I guess people can find the info online anyway, but just seems odd. This is my first home purchase so I'm wondering if this is just par for the course. [link] [comments]  |
| Update to a home we under bid on Posted: 06 Jul 2021 02:11 PM PDT Here's the original post: https://www.reddit.com/r/RealEstate/comments/mv2n8a/how_long_should_the_buyer_expect_to_wait_to_hear/?utm_medium=android_app&utm_source=share We didn't get that house, but closed on another home for about the same price we offered on first one. First house has been reduced twice, and the selling agent contacted our agent to "check in" on us. Obviously, we've moved on, but annoyed that we could have had the first one at the price we wanted. But we're glad where we are now, so it actually worked out better for us as buyers. But for you sellers, Lesson learned here: often times, the first offer you get is the best one. So don't hold out "hoping" you'll get more money (even if less than full asking - at least counter). I know this will get downvoted by selling agents, as they all try to get your home in a bidding war so they can make more money, but in my book, having an offer is better than no offer. So now they'll probably be stuck paying two mortgages for a 3rd consecutive year. Good luck to all! [link] [comments]  |
| "After Collapse, Hot Florida Market Faces Uncertainty." Posted: 06 Jul 2021 10:07 AM PDT It has started!! The partial collapse of the Champlain Towers South in Surfside, Fla., has plunged older beachside condos and high-rise buildings like it into a swirl of apprehension. SURFSIDE, Fla. — Ines Mason bought the 14th-floor condo in a building perched on an island in Biscayne Bay five years ago as a getaway, lured by the captivating view of the water. "In the morning, the sun rises, you can see that," she said. "It's amazing." But after seeing another high rise similar to her own collapse nearly two weeks ago in the nearby city of Surfside, suddenly her Florida escape turned into a source of anxiety. She became concerned about the structural integrity of her building, which is about 30 years old. She also worried about the financial return on her investment; her family had recently been contemplating putting the condo on the market and buying a townhouse. "Should we sell it?" said Ms. Mason, a project manager who lives in Northern Virginia and travels to South Florida several times a year. "Should we not sell it? What should we do? We're kind of just holding on tight and waiting to see." https://www.nytimes.com/2021/07/06/us/florida-condos-insurance.html?smid=url-share [link] [comments]  |
| Posted: 06 Jul 2021 06:34 PM PDT I have a question for all the realtors: when you first started out, how long did it take for your first paycheck? I have a job where i work from 5:30AM-12:30PM, and my boss, who has his real estate license, told me i should keep my current job to pay my bills, and do real estate after i get out of work. He offered to give me 5 hrs daily,(5:30AM-10:30AM). What do you guys think? Any comments or suggestions? [link] [comments]  |
| How long did it take you to transition towards becoming a full time realtor? Posted: 07 Jul 2021 04:01 AM PDT I've recently decided to undertake becoming a realtor in Ontario Canada and I was wondering how long it took the new guys to transition into full time real estate agents. Currently working a job to sustain me 3 days a week totalling 30 hours and would like to know the right to let my other job go. Appreciate any advice for a newbie! Thanks guys! [link] [comments]  |
| Posted: 07 Jul 2021 03:57 AM PDT Long story short my contractor is slower than hell. Paid him for half the job he did a month ago and seemingly forgot about. I guess the small amount of pay isn't worth the completion at this point for him I've spoken with him a couple times, and each week it gets delayed a week. I'm really at the point I'm tempted to pay him 75% for the job upon completion. Feel like my only option is to offer more pay for quicker work, but I ain't paying extra for this shit service. Really blows my mind a field with such demand and potential money had so many shit employees. Like if these contractors ran a remotely tight ship they'd be racking it in. Just lazy people in general somehow [link] [comments]  |
| Everything that can go wrong with an inspection unrelated to the house Posted: 06 Jul 2021 06:51 PM PDT So, I made a comment about this story in an earlier post. I was waiting for my buddy to get back to me since the details are a little fuzzy. Backstory Christmas Eve, his in-laws are driving in. In the late afternoon, he tells his wife he has to go pick up one more present for her. Then he doesn't come home. His in-laws get there, they eat supper, then go to Midnight Mass. They get home from Mass and he still isn't there. He rolls in about an hour or so later. He and his wife proceed to have a hissing argument, because his in-laws are in the next room. He stomps out of bedroom, goes downstairs, drinks some more and passes out on the kitchen floor. A few hours later, his wife finds him and her dad tries to carry him up the stairs. He can't. They dragged him out of the kitchen until his folks got there and then his dad and father in law carried him upstairs. By now he had pissed himself. So they left him on the bedroom floor. Christmas dinner is pretty quiet and finally the wife said she was going to ask him/tell him to leave. His mom jumps to his defense, his dad doesn't. So, fast forward and they are getting divorced. Only it is 2009 and the market has crashed and slumped. They'd only been in their house a few years and while it wasn't a total money pit, after the realtor fees and closing costs, they were going to be lucky if they ended up with any return. So, the house sits for several months. Finally, they are able to lower the price a few thousand dollars and still hopefully break even. The house sits a few more months and sometime in August it is shown. They get a lowball offer. Their realtor explains that he really thinks they should take it. They agree. There's a few back and forth moments with the buyers trying to get some personal property and them to pay for all closing costs. But, everything gets sorted and they set up the inspection. The buyer's realtor was also related to the buyers. The buyers arrive with their relative realtor, their three dogs and their tween son. They unhesitatingly bring the dogs in the house. The inspector arrives. Within 30 seconds of the inspector arriving, the German Shepherd proceeds to lift his leg and piss on some priceless books. My buddy couldn't remember if it was a signed Truman or Eisenhower book, but there was also an early edition of Uncle Tom's Cabin and a few others like that. The wife - who is still the co-owner shrieks at the dog. This causes the female buyer to shriek at her and tell her is she yells at her dog again, the deal is off. They start the inspection in the walk up attic. About this time, my buddy gets there and finds his ex-wife silently sobbing on the floor in front of the bookcase. She hiccups her way through telling him what happened. Today he told me that image still haunts him. As they are sitting there on the floor, they can hear the tween and the dogs running around upstairs. Doors are opening and closing. Then they hear something and they both realize at the same time what is going to happen. The boy is opening and closing drawers. There's only one bedroom that has drawers in it. One bedroom was used for storage, one bedroom was a guest room with nightstands that didn't have drawers. One bedroom is the master bedroom with dressers and nightstands. A few seconds later, they hear a drawer open and then they hear what they feared would happen. Tween has found his wife's vibrator. Tween has turned the vibrator on. Since husband bought it for his wife and they had utilized it together, they both knew the sound. They race upstairs to find the tween holding the useful part of the vibrator in his hand, the towel that it was wrapped up in on the floor. Wife shrieks at him, husband grabs the vibrator, turns it off and is wrapping it back up as parents, realtor and inspector come thundering the dozen or so steps down the hall. In her defense, it was wrapped up in a towel…underneath her Bible…in a drawer. So, buyer wife/mother starts shrieking at her again and actually lunges toward her. Husband and inspector blocked her path. Dogs are barking and snarling. Seller wife says, "Get out, get out, get the F out of my house." And she never used that word. Realtor starts to argue and the inspector interrupts and says, "I have a license/certification/state permit (whatever it was called). When a homeowner tells me to leave, I'm leaving - and you probably should, too." He winked at them (my buddy and his wife as he left). Buyer mom tells her son to go wash his hands. My buddy says, "Nope, you can get out now." Buyer husband turns to my buddy at the door and says, "If you were a real man, your wife wouldn't need that." His Ex Wife kept him from going to jail. After a few moments of silence, they take a deep breath and look at each other. She says to him, "I don't care if I have to get a second job at Taco Bell for the rest of my life and pay you and whatever breach of contract is in play off in pennies. I am NOT selling this house to them." A few minutes later their realtor called and they told him to cancel the deal, take the house off the market, etc. They worked something out and his Ex-wife lived in the house for five more years. They sold for a profit and there was decent equity built up by then. The buyers never pursed anything legally. His Ex-wife married the inspector, but that is a totally different story. [link] [comments]  |
| Posted: 06 Jul 2021 09:24 PM PDT Hello - considering a condo but it's right next to a fire station. I'm sure it might potentially affect resale value, but we're not too concerned as we plan to be there for quite some time. Our bigger concern is exactly how noisy it might be for just day to day living, or rather, sleeping. Has anyone lived next to a fire station and can share their experience? I searched on here and didn't find too much. Also, how helpful is additional noise proofing or additional panes on the windows? Thanks! [link] [comments]  |
| Posted: 06 Jul 2021 12:03 PM PDT https://www.realtor.com/realestateandhomes-detail/1212-Spar-Ct_Carlsbad_CA_92011_M19882-28755 $151k price drop in Carlsbad, CA. Overpriced to begin with, but the stripper pole in the living room and altar with a skull in the bedroom probably don't help… [link] [comments]  |
| Stay far away from Amerisave Mortgage Posted: 06 Jul 2021 09:52 AM PDT Long story short, I did not end up using them as a lender in the initial pre-approval/offer process, but they continue to call me after I blocked their number and told them to stop calling me. Well they started using random numbers of businesses in my area in order to spoof the caller ID and try to talk me into switching. No legit business spoofs caller ID's. That's some real scummy shit. So now I'm making a complaint to the FTC as well. [link] [comments]  |
| Hello everyone, I’m 20 years old and wanting to get into real estate. Posted: 07 Jul 2021 01:55 AM PDT So I'm currently in college going for an associate degree in business management and through my experience I've come to the conclusion that college is complete bull shit and just a constant hustle to get a 9-5 job watching a series of different YouTube videos. Which I never wanted and to me real estate has always been end game to me. I'm completely clueless about real estate atm but I talked to an agent that sold our house last year and I got really interested. I have no responsibility's right now and 6k saved up. I still have to get my license but I know that's just the start of the battle. I want to know what's the best way to get started after the license and what would be a good job to have on the side to get me to learn and gain some experience in this field. Construction is just one of my thoughts but I'm sure there's many others. Any thoughts or advice would be really appreciated! [link] [comments]  |
| A few questions on the construction loan Posted: 07 Jul 2021 01:15 AM PDT Experts, I got a quote to build a new house for 500K, researching home construction. Quick investigation showed that major banks actually don't give out these and not so easy to find answers...A few dumb questions for the community:
I understand that a lot will depend on the individual circumstances and the landing institution but still there must be some general guidelines. Thanks in advance! [link] [comments]  |
| Does the ability to build a home on vacant land increase the lands value? Posted: 06 Jul 2021 08:34 PM PDT I'm currently trying to purchase a piece of vacant land (around 50 acres) to build a home on. I agreed to purchase the property for $450k, but it only appraised for $400k, and the seller is refusing to lower the price, so the deal is dead. However, I was looking into the appraisal and it states the appraiser heavily compared the lands value to a specific piece of property that sold recently near by. The compared piece of property is the same amount of acres and similar in vegetation (wooded with a river). It makes sense that the land I'm trying to purchase would be compared to this piece of land. However, the compared piece of property is completely in a flood zone and not buildable. The piece of land I'm trying to purchase is also in a flood zone but has around an 8 acre section that is completely out of the flood zone and can build a house on. No where in the report did the appraiser mention that the other property was in a flood zone and not buildable. He only compared the amount of acres and road frontage. Is it worth my time to reach out to the appraiser/lender and discuss how this could affect the value? From my understanding, land is more valuable if you can build a home on it. Currently on the market there are many larges pieces of land for sale that are not buildable and have a very low price because of it. [link] [comments]  |
| Do not waive off Inspection Contingency.. Posted: 06 Jul 2021 02:14 PM PDT |
| Getting a mortgage with <2 years stable 1099 income Posted: 06 Jul 2021 07:55 PM PDT I'm trying to plan ahead to buy a $200k starter home in Tennessee (mortgage w/ taxes + insurance is ~$900/mo).
My question is: am I likely to be eligible for a mortgage right now given these circumstances? Or do I have to wait until the end of the year when I have 2 years of 40K+ income? My YTD is on track showing I will make more than last year. My income is reliable, with a fixed amount monthly. Do I have to wait until January of next year for a mortgage, after my next tax return? [link] [comments]  |
| Is it worth becoming a Real Estate agent? Posted: 06 Jul 2021 05:40 PM PDT I've been accepted by agentadvise.com and they are asking me to get my license, it's my second job working with people and I like it, but is this a whole other ball game? Is there anything I should know before spending money to get a license? [link] [comments]  |
| Can I be both a Realtor and a Home Inspector for my client? Posted: 06 Jul 2021 11:13 PM PDT Hey all, sorry if this question is a little dumb. I just became a realtor about a month ago and was thinking of other ways to market myself better. And yeah that brought me to the question on my title. Can I be both for my client? Or is that a seriously bad conflict of interest? Thanks in advance. [link] [comments]  |
| Can someone look at my map site for the house I’m building and share their thoughts? Posted: 06 Jul 2021 04:42 PM PDT So I'm building my first home on a corner lot and had expressed to them that I wanted as much back yard as possible (I did pay extra for this lot) and I just got the map site today and am pretty upset as I almost have no backyard. I couldn't even build a pool in the future if I wanted. I told them I was unhappy about this and just wanted some opinions as to whether you think it's doable for them to fix it. Pm me I'll send map site. [link] [comments]  |
| Received cash offer with 120 day closing. Posted: 06 Jul 2021 06:25 PM PDT I was about to list my home on the market. A commercial property owner that abuts my property got wind of this and just made a cash offer. The number is good but he wants 120 days to close. When I asked why, he says he is closing on another of his properties in ~90 days and wants to use the cash from that sale for mine. The number is good and it buys me time to get rid of all my possessions but I'm stressed about the extended closing date. Would you accept such an offer? This is my first ever home sale and I would really appreciate any advice. [link] [comments]  |
| Ok question for all of you Austin real estate folks... Posted: 06 Jul 2021 09:15 AM PDT I have owned my house in Austin for almost 20 years and the value of it is like 3/4 of a mil now. It has gone through the roof. Thinking of selling and moving out to Cedar Park or Georgetown. I work from home and my kid is homeschooled. Am I crazy? It looks like I could pocket almost 400 Gs in the deal and get a newer house. [link] [comments]  |
| Title company hasn't yet send me the settlement statement and closing documents Posted: 06 Jul 2021 05:52 PM PDT I am selling my house in TN, and my closing is on July 8. I am doing a remote closing so my title company is sending me the documents to sign through a notary company on July 7. I asked them to send me the documents for review. I didn't receive anything from them yet. I am not comfortable signing anything until I completely understand them. I talked to my realtor and he said it is a serious concern. I read online that the title company should send me the documents atleast 3 days before closing. What are my options here? If I don't understand something can I just say I need to discuss this with someone before I sign? What happens to the closing date then? [link] [comments]  |
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