Watching My Old House Go Up For Sale Again (MA) Real Estate |
- Watching My Old House Go Up For Sale Again (MA)
- Household mortgage payments at the lowest level in 40 years
- Help needed over builder next door cutting into my property with no heads up!! Survey issues!!
- Voices from 2005-2006
- San Diego sell vs renting
- Is it common for sellers to place emotion over price?
- As-Is, Early Possession, Cash Buyer Backing Out
- Does signing initial closing disclosure lock any of the numbers?
- Selling to Zillow, anything to be wary of?
- I need all of your opinion about property price in Bali
- As a seller, is it okay to leave a "Frequently Asked Questions" note in the house during a showing?
- Keeping up hope?
- Help me understand the appraisal clause?
- Seller asking us to do our own research in permits
- Can a buyer back out after the inspection period ends.
- Leak identified during the final walkthrough, 2 days prior to closing
- Buying a condo with plans to live there next year.
- My neighbor wants to buy the house next door to him but doesn't get along with the neighbor who is selling
- Realtor keeping deposit despite contract saying to release it to buyer. Pennsylvania
- Best way to approach out of state primary home loan?
- Delay in receiving appraisal, is this normal?
- Buying in Co-op... Pro's & Con's
- National Buyers Agent?
- If a house was recently sold, will it always be displayed in the status of ‘sold’ on Zillow?
- Is my realtor being shady?
| Watching My Old House Go Up For Sale Again (MA) Posted: 09 Aug 2021 12:48 PM PDT We sold our starter home 3 years ago for $175k. It is less than 1,000 square feet, 2 bed, 1 small bath but with a great yard. The house is 100+ years old with a leaky foundation, a mouse problem, incredibly crooked floors, and just needed tons of work that we weren't willing to do. We were very open about the problems and even paid for our own inspection that we provided to prospective buyers. We were honestly just happy to be rid of the thing. The house was listed this week. The roof is new, existing wood floors were refinished, and the linoleum in the kitchen replaced. I can't tell what other work was done but it still has the same kitchen with abnormally small stove and cabinets where we found so many mouse droppings. Same tiny bathroom. Same foundation and basement floor with evidence of years of water infiltration. It's listed for $310k. While this would be an amazing ROI for the seller, it really just makes me so sad for people trying to buy a house right now. I know houses are worth what the market says they're worth, but if someone waives inspection on that house and pays $310k for it, there is not a doubt in my mind that they'll regret it. [link] [comments]  |
| Household mortgage payments at the lowest level in 40 years Posted: 09 Aug 2021 09:59 PM PDT As a percentage of household income, Americans now pay less for our mortgages than at any point since 1980. The same holds true for all consumer debt. So if you're waiting for a crash, LOL.
https://fred.stlouisfed.org/graph/?id=TDSP,MDSP,CDSP,FODSP, [link] [comments]  |
| Help needed over builder next door cutting into my property with no heads up!! Survey issues!! Posted: 09 Aug 2021 05:28 PM PDT The property next to me was there long before mine but was recently torn down to build 5 condos. This morning, they tore my fence down and started cutting into my property. They told me that the survey showed our property was covering 8 inches of theirs. Coincidentally, they need 8 more inches for wheelchair access. They gave me no heads up and gave me no time to get my own survey done. They did send me the survey they had done but the timing seems sketchy. If they had the survey done before breaking ground, why not show me then and give me time to get my own survey done or at least have my dogs in the house the day of! Do I have legal grounds to get my own survey done? If I get one done and it shows something different but the new property is done, what next? Please help!! [link] [comments]  |
| Posted: 09 Aug 2021 09:50 AM PDT It's almost bizarre how they echo the same things we're hearing today. Very interesting to see. Same claims of low interest rates, higher incomes, shortage of inventory, excellent fundamentals.
More examples here: http://economicsofcontempt.blogspot.com/2008/07/official-list-of-punditsexperts-who.html [link] [comments]  |
| Posted: 09 Aug 2021 08:12 PM PDT So along with the rest of the market, my house has jumped 100% in value over the last 7 years. I bought in 2014 for $550k, and the most recent appraisal came back at $1.1mm. Currently financed at 2.75%. I'm military and executing orders, so I know for a certainty that I'm moving in January of 2022. Which brings me to the standard "rent vs sell" question. Factors: Current monthly payment (principle, interest, insurance, tax): $2867 Property manager thinks he could get $3400/month for it. He takes 8%, then I figure 5% for routine maintenance, which leave me making about $100/month. Realistically I know that "profit" doesn't exist because any unplanned cost is going to chew through it. So I'm assuming I'll break even. There's a good chance that I'll return to the area, in which case there is no way I could afford buying a house like this again. So my thought is that it basically costs nothing to keep it and rent it, and if I return then I already have a nice home. If I don't come back, then I just sell it and I'm no worse off then I am right now (maybe better because of depreciation and tax write offs). Any help poking holes in my plan would be appreciated, as well as your opinions. Thanks! [link] [comments]  |
| Is it common for sellers to place emotion over price? Posted: 10 Aug 2021 03:12 AM PDT I've placed 3 offers on properties now. One property i found out my offer was much higher than the actual value and the owner wouldn't renegotiate despite my renegotiated offer still being the highest he refused so I pulled out. The next the owner felt "obliged" to go with 1 seller because they offered first but my offer was actually higher and made 1 day later. And the most recent I was told the owner went with a cash buyer instead even though mine was higher... so I informed them that I'm a cash buyer too and have mentioned that several times. So they clarified and said the owner decided to go with a charity who is buying the house even though my offer was higher. Surely cash buyer highest offer is the most important factor? Is it common for people to want to sell houses for less than the highest offer due to other reasons ? [link] [comments]  |
| As-Is, Early Possession, Cash Buyer Backing Out Posted: 09 Aug 2021 06:06 AM PDT We were approached by a realtor/investor who offered cash to purchase our home "as-is" - no inspection, no appraisal, requested early occupancy (9 days) and offered to pay rent, and a two week close - the sale being contingent on their home selling. We caught wind that they were hiring contractors to perform work on the home during their early possession - which per the early possession contract that they signed, they were not permitted to do. We are not unreasonable people, and simply asked that they agree that they will pay for any and all work performed should the home sale fall through. They refused to agree and asked for a mutual release. They were given 2 days after signing the purchase agreement to review the original inspection and appraisal and back out, but they waived that right and proceeded into day 4, during which time we were scrambling to vacate the house so they could take possession on day 5. We have done everything asked, except permit them to have unapproved work done on the house before closing. Are we being completely unreasonable by holding them to the legally binding contracts that they willingly signed? [link] [comments]  |
| Does signing initial closing disclosure lock any of the numbers? Posted: 09 Aug 2021 06:46 AM PDT Got the disclosure and there's a significant amount of variance from the loan estimate. My agent & LO are saying to just sign it and it'll get worked out at closing much closer to the original estimate. Now I'm just wondering what even is the point of this if it's inaccurate as they say? Does signing it lock any figures? [link] [comments]  |
| Selling to Zillow, anything to be wary of? Posted: 09 Aug 2021 09:58 PM PDT So we are signing a deal to sell our house to Zillow, with an agent. I'm kicking myself for not getting an offer price from zillow before we signed with an agent but we had no way to know that zillow would offer $30k or more above what we thought was a reasonable listing price. My agent usually gets offer prices from many of the iBuyers and zillow came back $30k over what we planned to list at. We still had some showings and open houses this last week but as we thought, no one could come close to matching what zillow offers with cash and quicker closing. It sucks to be losing over $20k in commissions with an agent and going with zillow but in the end we got way over what we were hoping for. Now I'm wondering if there is anything I should be on the lookout for with the paperwork and such when selling to Zillow. Obviously I expect my agent to handle 99% of all of this but I've never sold a home before. Another Q I have is whether I can push for a faster closin? I told my agent we wanted the fastest possible closing which they currently seem to offer as a 15 day. However we were told our closing date would be the 31st which is more than 15 days. Can we push to have the close completed sooner? My concern is we are moving out of state and plan to be out of the house completely within the next week. I'm quite nervous having an empty house that is still legally our responsibility for 2 weeks without any way to watch over it besides keeping in contact with neighbors who can keep an eye out. [link] [comments]  |
| I need all of your opinion about property price in Bali Posted: 09 Aug 2021 09:15 PM PDT Hi, i am a property agent and i need your opinion about property price in Bali. please put the price and another specification if you want Im gonna starting to make an ads to foreigner, so i need to know about people's perception about property in Bali (mostlyfor villa) [link] [comments]  |
| As a seller, is it okay to leave a "Frequently Asked Questions" note in the house during a showing? Posted: 09 Aug 2021 02:05 PM PDT Seller here. I am done with the staging and I am about to list my house this upcoming weekend. One of the things I was thinking about is to leave a note of Frequently Asked Questions to answer common questions like how's the neighborhood or what's the square feet, does the garage come with automatic door opener, etc. Not a lot of questions - just top 3-5 questions, enough to fit one page. Many of these things are listed in the house description and included in Seller's Disclosure, but I am afraid not every potential buyer reads those in details but may be thinking about it in their mind. Additionally, a note like this can show the seller is considerate. What do you think? Is this is a bad idea? [link] [comments]  |
| Posted: 09 Aug 2021 03:27 PM PDT We're in the process of looking for a home. 2 offers made that we didn't get. Have one in that we expect to hear on tonight. My husband takes every unaccepted offer as proof we won't find a house. (Like many places, our local good inventory is limited). Meanwhile I've heard (I don't remember from where) that people are making like an average of 7 offers before they get their house. I think I can hold on to hope, but how are other homebuyers doing it? *edited for grammar [link] [comments]  |
| Help me understand the appraisal clause? Posted: 09 Aug 2021 10:40 PM PDT My realtor asked me to provide an amount I'm willing to pay in cash should the appraisal clause be used, I put 5k. But I'm confused as on here I've read the appraisal clause works as if you offer 300k on the house, but it appraises for 250k, you owe the seller 50k cash. So why did my realtor ask for a $ amount for my appraisal clause? I'm going to remove the appraisal clause all-together, but I'd appreciate a better understanding of how it works. [link] [comments]  |
| Seller asking us to do our own research in permits Posted: 10 Aug 2021 02:14 AM PDT CA here Hi- I received a reasonable counteroffer on a home that I would like to accept. Except on the counteroffer, they sellers state that I, the buyer, are to do our own research on the sq footage, # of bedrooms, and most importantly, permits If sign this counteroffer, are we as the buyer acknowledging that we have done our own DD on this house regarding permits and sq footage, and if we find out parts of the house is unpermitted it isn't sufficient reason to walk away from the home The thing is, this home definitely has had add on rooms over the years. It was built in the 20s , and online search only reveals permits records for some recent work, but nothing involving the more significant room addons Why would the sellers agent add this portion in the counter offer unless they wanted to limit their liability on these likely unpermitted addons? I haven't signed the counteroffer yet. Should I ask the sellers for any permits and just walk away if they refuse? I haven't seen the sellers disclosure yet and anything written there can hard to believe. The home from what I can tell , had been in the seller's family for many many years. They should know if it's permitted I'm also hesitant to reach out to our city's building department and have them flag the home. Please help! [link] [comments]  |
| Can a buyer back out after the inspection period ends. Posted: 10 Aug 2021 01:59 AM PDT For context a investor is looking at buying our house. They did the inspection and then sent the cancellation form. After sending the form they called my realtor and asked if they could have an extension to decide because they didn't have a chance to look at the inspection report and we agreed as it was only a few days. Now the timeframe is over and we haven't heard from the buyer. My realtor is going to call them today as yesterday was the last day. Can they still back out and what happens if they do? [link] [comments]  |
| Leak identified during the final walkthrough, 2 days prior to closing Posted: 10 Aug 2021 01:55 AM PDT We did the final walkthrough yesterday and saw some liquid in the kitchen counter coming from upstairs, messing the cabinets. Master bathroom is above the kitchen. Some water leaking happened it seems. Property is vacant so nobody saw it before us. Seller will have it checked, what are my options at this point ? Obviously all the contingencies have expired at this point. [link] [comments]  |
| Buying a condo with plans to live there next year. Posted: 09 Aug 2021 06:03 PM PDT I'm planning to buy a condo/town house right now. I plan to stay there next year in July. That's when my current lease expires. Meanwhile, my family member will be occupying the house. Can I still get primary residence home loan? Location: Bay Area. [link] [comments]  |
| Posted: 09 Aug 2021 08:55 AM PDT So just as title says, my neighbor wants to buy the house next door to him but him and the neighbor have never been on good terms. Is there a way my neighbor could buy the house without disclosing it's him? Is there any recommendations or tips anyone has ? Thanks much appreciated [link] [comments]  |
| Realtor keeping deposit despite contract saying to release it to buyer. Pennsylvania Posted: 10 Aug 2021 12:28 AM PDT Hello, so my was in the process of buying a home and passed 4 days before closing in 10/2020. I spoke true realtor about getting the 5k deposit and here is a list of reasons he gave me each time. 1 The seller will not give you back the money you will need a lawyer. 2 When I tell him I found the contract and it states the broker must hold the money he admits he has the money but I need a lawyer to write a letter to get the money. 3 I have a lawyer call him and he tells them that since he didn't get final mortgage papers the money was forfeited(no where is this in the contract). But the contract does state that both parties must go to mediation before litigation but this costs money, but I see a part in the contract that states that after receipt of buyer's written request, broker will, within 30 days of receipt, distribute the money to the buyer unless the broker receives notice of litigation. I sent him an email to both emails in the contract requesting the funds July 1st. Now august comes and I call and tell him according to the contract I'm due a refund. & it's been a run around since, first he needed to talk to the seller. Then I threaten to complain to the licensing board and then he sends me a termination of agreement with a distribution agreement on bottom the stating the seller would get all of the money, I don't sign it. I've been popping up at the office but now he's "at a convention". So I'm not sure what to do?can I sue him since he is no longer abiding by the contract or would I still need to try mediation? Thanks [link] [comments]  |
| Best way to approach out of state primary home loan? Posted: 10 Aug 2021 12:04 AM PDT I would like advice on what the best way to approach a home loan is. My husband and I have bought and sold 2 homes in 20 years and both were very straight forawrd easy process. This time things are more complicated and I want to make sure the process is as easy as possible since life is a bit stressful. My husband and I sold our home.I would like to buy a home in N.CT/W.MA/Upstate NY. I have 2 children starting college in this area. My son needs medical care and will need to live at home most likely for a few years. My husband owns a business in The Southwest (UT/NV/AZ region) and has owned it for 20 years. He is going to be staying in the area to keep running his business due to the labor shortage he just can't leave. He will be staying at my mother's house, which is in a trust in my name (My mom has dementia and is getting care). His housing will cost us nothing and we have sold out primary home. Our credit score is above 820 and we are putting 50% down on a home. I will be living in the new home with 1 child and 1 will be in a dorm nearby but home on the weekends. Question is can we buy a home based on my husband's income in another state if he is staying behind and living with no bills (in a house that is in my name in a trust) or does he have to get a job in the area we are moving too? We had a mortgage provider who knows us but he is on vacation for 2 weeks and we need to get started. My husband contacted a new lender and they said it would be better to have a local job. My husband does have employers willing to offer him a job but he needs to stay behind and manage his business. His business is booming and there is no one to do important jobs (my husband has contracts to do government and large business jobs and he just can't walk away). Our son has surgery scheduled this fall in MA and our other child starts college in a fews weeks there so I really want to be in the region soon. What is the best way to approach the loan, the loan amount is under 200k and we have no other debt, not a car, a credit card, nothing. Is this going to be hard? People are moving to the current city I live in from CA and the husband is working in CA and it seesm so easy? Thanks for any advice. [link] [comments]  |
| Delay in receiving appraisal, is this normal? Posted: 09 Aug 2021 08:06 PM PDT I want to start out with saying that this is our ( husband and me) first time buying a house so there are things we probably still don't know at this point but I needed to vent more than anything. After about three months or so of looking for a house and about 4 offers being rejected we finally had an offer accepted on July 3rd. We consider ourselves lucky because in the grand scheme of things it really wasn't that long of a process but it was exhausting enough to us. We were pre-approved for an FHA loan (lower down payment and lower interest rate helped this decision). Our loan orginator(the guy who got us our pre-approval) has this automatic emailing system for the steps of the loan process and on July 8th our loan application was received. And on July 9th we submitted all the required papework (W2s, paystubs and a gift letter because my parents we gifting us money for a down payment, the whole works). After all that the automatic email stated we were sent into processing. Now this lady, we will call her S, she was a lot to handle ... I get that she is just doing her job but she was really good at demanding we answer immediately but then go three days without answering our questions. I also would like to add that on July 10th, we were told to pay for the appraisal early and it would be deducted from our closing costs and because it was an FHA loan the appraisal and FHA inspection (separate from the original inspection which came back great on July 8th) would happen at the same time Was a great time, super stressful. After about 7 days, and countless emails with her, we went into underwritting on July 15th. Then on July 16th we were conditionly approved for our loan. During this time the appraisal/FHA inspection had not happened or was not told to us it was scheduled or anything. In retrospect, we probably should have been a little pushy about it but we just assumed this was a normal process and didn't think much about it. We still were contacted just about daily from S for all the underwriting documents. Fast forward to last Monday August 2nd, we had been told by S that we were close to be cleared to close and she just needed a quote for homeowners insurance and we had realized we still hadn't gotten notice of the appraisal being done. So my husband emailed our loan orginator and his assistant asking about our appraisal since we were told our closing date was estimated to be August 10th. About maybe 30-60 minutes later we got an email with the appraisal and FHA Inspection report. According to the paperwork the appraisal/inspection was done July 21st and the report was finished on July 27th. Not once we were told about this being done or that it was scheduled or that it had come back. Repairs had to be done according to the report before being approved for us to move in. Even though we are buying As- Is these repairs needed to be done. So Monday August 2nd we had to scrabble around figuring out how to get them done. The seller, who has been AMAZING, told us that he couldn't really help due to his work schedule but gave us a 1000$ credit to use for the repairs. So my husband and I cancelled our mini vacation to see family and my dad, my husband and I did the repairs. We had to repaint the unfinished basement walls, add a outlet cover, repaint the bedroom door, add an extension off the relief valve, and add a handrail to the basement stairs. It took us all weekend but we finished it. I hated it because I was doing work on a house I didn't even own yet but we wanted to close. Thursday August 5th our loan orginators assistant said he would schedule the appraisal to come out Monday to clear us to close for Tuesday. So we thought okay great this is annoying but all working out so it was worth the cancelled trip and hardwork. Received a phone call this morning stating they are having trouble getting an appraiser out because of scheduling issues and our closing date was pushed back to Thursday the 12th. I know two days isn't the worst thing in the world but I'm SUPER frustrated that any of this is happening to begin with because we were not informed about the appraisal when it FIRST happened. I just want to move in and be done with this whole annoying as hell experience. Would there be a reason it took almost a week after the appraisal report was finished for it to finally be delivered to us, and so close to closing? I'm desperate for some kind of reason for this to be happening like this. Everything up until this point had been going decently well. [link] [comments]  |
| Buying in Co-op... Pro's & Con's Posted: 09 Aug 2021 10:06 AM PDT Hi All, I am considering buying a 2 bed 1 bath co-op in Boston (Allston). I am a FTHB and have no idea what Co-op's entail. Have any of you folks lived in a Co-op building? what are the pro's / con's of such a unit? Thanks for all your wisdom! [link] [comments]  |
| Posted: 09 Aug 2021 06:49 PM PDT I recently accepted a remote job and am looking for a house anywhere in the country but have no idea where to start. In my experience, real estate agents only work within a certain area. Does anyone know of any company or real estate agent that could work with me to find my dream home without regard to geography? (Any US state) [link] [comments]  |
| If a house was recently sold, will it always be displayed in the status of ‘sold’ on Zillow? Posted: 09 Aug 2021 06:47 PM PDT My GF and I are buying our first house. We have put 3 offers on 3 houses in the last 2-3 weeks (didn't get any of them). 1st and 3rd house still say pending on Zillow. The 2nd house house says 'off the market.' It also doesn't have any new/recent sale history added. What does this typically mean in this instance? That it didn't actually sell? Or could it have sold and they just didn't update the status? [link] [comments]  |
| Posted: 09 Aug 2021 08:30 AM PDT First time house seller here... seeking seasoned advice. My house officially went on the market Saturday at 12:01am. Two days prior to that the it was listed on MLS as "Coming Soon". There were a few showings over the weekend and I received an offer first thing Monday morning. The home is located in an area of the where the market is considered "hot". I've frequently heard stories of homes recently selling "over asking price" and "cash" and "no inspection". The offer I received is exactly for the exact amount I'm asking, with a contingent inspection, and bank financing. So the offer is pretty generic. My realtor called me shortly after receiving the offer and exclaimed, "I received a great offer on your house!" After hearing the details I wasn't really in agreement that it was a great offer. It was a standard offer, period. As mentioned, this is a hot market. Despite the relative craziness of the market my realtor poopoo'ed the idea that I'd be getting many, better qualified offers. She painted a picture that after the first few days the pool of qualified buyers kinda dries up... and basically suggested that it'd be futile to wait for something better to come along. I get the feeling she's trying to get me to accept an offer prematurely. She's my exclusive seller's agent, so I'm not quite certain why she's pushing for a quick sale other than she's trying to score a quick commission. I've been following the house on Zillow and see that it's getting a metric ton of views and "saves". The realtor tells me that these stats are basically worthless... that they don't use Zillow and that they do their own marketing that would yield BIG results fast. I'm skeptical. What say you Reddit? Should I be? [link] [comments]  |
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