Hypocritical home sellers who cashed out expecting cheap rents ? Real Estate |
- Hypocritical home sellers who cashed out expecting cheap rents ?
- Allowing people to walk their dogs on my property?
- [TX] First time home buyer looking to move to Dallas, TX
- Generally speaking, does an in ground pool raise or lower the value of a home?
- Houses Sold Then Listed for Rent Way Below Cost?
- Home Appraised 20K Under Purchase Price - What would you do
- Closing costs
- AmeriSave?
- Any advice for things that should be in a rental agreement that aren't normal?
- Did you pay more or at/less than appraised value in 2021?
- Renting lot to do mechanic work in Michigan
- Have a VA financed offer in hand. What do I need to be paying attention to?
- Trying to figure out a price for land.
- Buy new build in developing community or stay in current home?
- Property tax
- Awesome house, not so great school district
- Does Anybody Know Of A Free Online Service To Lookup A Property's Deed/QuitClaim, etc. History?
- Isn't "Accepting backup offers" in the MLS listing just inviting trouble?
- Estimate for preparing raw land for manufactured home in California
- SFR - Planned Unit Development. Will this be tougher to sell down the line?
- Is it possible to get a loan with no down payment?
- New Agent finding a brokerage
- Seller hasn’t responded to Repair Request…
- Should we try and buy a home we’ll only live in for less than 2 years?
- Resourceful eBook for New Real Estate Agents
| Hypocritical home sellers who cashed out expecting cheap rents ? Posted: 13 Sep 2021 01:47 PM PDT I know an airbnb owner who has been getting many requests for long-term rental from locals who have sold their homes at record prices, and now need a place to live. Of course, the airbnb owner has raised their weekend rates, as well. So, it doesn't pay to do a monthly rental right now. These sellers are expecting regular market rents and actually have gotten nasty saying the airbnb owner is "taking advantage of the situation". Yes, exactly like the sellers themselves did when they sold their house at record prices ! It's amazing how people can be so hypocritical when it doesn't suit their needs. I know another guy who is a miser who just saw dollar signs and just got his home under contract. He has no idea where he is moving to. LOL. Anyone seeing other strange things like this? [link] [comments]  |
| Allowing people to walk their dogs on my property? Posted: 14 Sep 2021 12:08 AM PDT So there is a large (40 acre) field behind my house that had been for sale for a few decades. During that time, the neighborhood on the other side of the field began to use the field as an unofficial neighborhood walking park. Some foot paths became weaved into the tall grass where people walked their dogs, jogged, rode bikes, etc. We used it for those purposes as well. Recently, someone bought the field and the land around it. We've always feared that someone would develop the field into an apartment complex or new neighborhood and ruin our scenic view. So I sought out the new owner for some insight to his plans. He claims he's not looking to build anything on the property (for now), but he did say he could be interested in selling me the field behind my house (the previous owner had no interest in subdividing the property and I didn't want the whole 150 acres). So my question is, if I were to acquire this property, how much liability would I be opening myself up to if I continued to allow the residents of the neighborhood to use the foot paths? What could I do to protect myself? Signage? It's flat field of weeds/tall grass and I can see nearly the entire field from my back deck. I feel the only way I'll know for certain that nothing will ever be built there is if I own it, and the price seems right. Any insight is appreciated. Thanks! [link] [comments]  |
| [TX] First time home buyer looking to move to Dallas, TX Posted: 14 Sep 2021 04:12 AM PDT Hey everyone, wanted to get some feedback about the general market outlook in Dallas. It doesnt seem astronomically terrible. I mean what you get for 300k now was 230-260k a few years ago just looking at price graphs. What really went up I guess was 1500 sqft 3br 2 bathrooms maybe from 150k to 230k 250k. For a first time buyer that can stick it in with the ol parents for like the next 8 months, do you guys expect things will continue with inflation and investors driving up prices, or are there tons of overleveraged investors and an imminent crash? [link] [comments]  |
| Generally speaking, does an in ground pool raise or lower the value of a home? Posted: 13 Sep 2021 10:07 AM PDT |
| Houses Sold Then Listed for Rent Way Below Cost? Posted: 13 Sep 2021 09:32 PM PDT I'm in the Bay Area (if username didn't give it away) and have noticed houses getting sold way over comps, then almost immediately listed for rent much below what the the carrying costs would have to be. What would drive this behavior? Are investors buying homes for multiple millions and just ok losing money each month as long a they have a place to park their money? Really frustrating for anyone looking to buy a house to live in themselves... not looking myself at the moment but really feel for everyone who lost their offer just to see this happen. [link] [comments]  |
| Home Appraised 20K Under Purchase Price - What would you do Posted: 13 Sep 2021 09:45 PM PDT We are in the process of buying a house and just got the appraisal that our new build appraised for 500K even though our purchase price was 520K (20K under the appraisal price). The agent and builder want to contest, but we are not confident that the appraiser won't change from the new comps sent to the lender. The closing timeline is tight for us as we are traveling and we feel like we are already conceding too much to pay over the appraisal (paying owner title fee, no other offers on the house, it's getting into slow season). We have the opportunity to walk away from this build (it's a spec home) and look for something more in line. What would you do? [link] [comments]  |
| Posted: 13 Sep 2021 07:58 PM PDT As a buyer closing costs are the most scary thing to me when looking to buy a house. I hear it ranges from 2-6% and that makes the difference of THOUSANDS of dollars. Why is it not more defined? It's nerve racking the difference in cost I need to save up after I've already saved so much for the down payment [link] [comments]  |
| Posted: 13 Sep 2021 07:44 PM PDT Anyone have experience with AmeriSave? I'm an agent with my clients currently in escrow on a property. They had engaged with AmeriSave to get their pre-approval and put down a non-refundable $500 application fee before I took them on as clients, as a result I wasn't able to recommend a reputable lender and they didn't want to lose their deposit (which I get) with AmeriSave so that's who they've used despite my qualms about using them. We're 13 days into escrow and it's been rocky. Their system has gone haywire at points and asked my clients for multiple things that they've already submitted. The loan processor accidentally included them in an email that said the file was "having issues." Which understandably freaked my clients out. The loan officer and main contact can't be reached by phone because her number is disconnected and hasn't been input into their new system, she also asked ME if I wanted to order the appraisal and I was like ??? Overall no one seems to know what's going on and I feel like I'm babysitting this lender to make sure things move along. At this point I'm concerned about their ability to close. Has anyone had experience with them, how was it? Anything else that I need to look out for? [link] [comments]  |
| Any advice for things that should be in a rental agreement that aren't normal? Posted: 13 Sep 2021 08:36 PM PDT We are renting out a room in a house we recently bought. We downloaded a default Oregon rental agreement, but am wondering if anyone has any tips or advice on things we can add, do or prepare for? This is the first time we are going to be landlords. Thanks! [link] [comments]  |
| Did you pay more or at/less than appraised value in 2021? Posted: 13 Sep 2021 12:55 PM PDT Through the process with my realtor she often suggested I include appraisal gap coverage in my offers for places, and she claimed that it's rare properties were appraising low (even for over-list offers) so it was unlikely that clause would be used. However, I just got an appraisal back on a property and it appraised way low… the lender is now saying this is pretty common in this market. Luckily, I didn't have a gap clause in this offer, but I'm curious how often it's been an issue. With so many people paying over asking (or list prices being high to begin with), have buyers struggled with appraisals coming in low? What's the reality? [link] [comments]  |
| Renting lot to do mechanic work in Michigan Posted: 13 Sep 2021 06:52 PM PDT I'm looking for a parking lot to rent in Michigan, are there any websites or ways so I may be able to find one? I want to start a small mechanic business where I can just work on a small lot any, advice would be appreciated. Thank you. [link] [comments]  |
| Have a VA financed offer in hand. What do I need to be paying attention to? Posted: 14 Sep 2021 03:28 AM PDT We have sold over a dozen houses over the years, but as it turns out never to a VA buyer. What do I need to pay attention to that is special to VA? I've read the major finance sites about things like closing costs and appraisal issues and pest inspections - we're good there. I'm thinking about things that aren't published such as - can we expect delays from back-log? Is a prequalification letter the same with VA as it is with Conventional or FHA? I don't know what I don't know, so any comparison you might have to offer between VA and other financing would help me as a seller to decide if this is the right offer to accept. Thank you! [link] [comments]  |
| Trying to figure out a price for land. Posted: 13 Sep 2021 06:16 AM PDT I live next to a rental property that's on a heavily wooded 1 acre lot. The owners are selling it, and are going to break the lot into 3 pieces. If they cut down the woods to build another house, I'll lose all of my backyard privacy. They are willing to sell me part of the lot that's right next to my house. It would add a 40' buffer between me and whatever they do. I'd be buying about .15 wooded acres, so not enough to be a buildable lot. My local agent does have any ideas for what a comp would be. Is $10,000 too much? Too little? The zip code is 56082 if that helps. Edit: The seller has mentioned that the cheapest buildable lot in town is currently listed at 50k. I think they're going to ask way too much for this slice. [link] [comments]  |
| Buy new build in developing community or stay in current home? Posted: 13 Sep 2021 11:28 PM PDT Hi all, My wife and I just had a baby and are looking to move from our current 1650sqft 4bd 3ba home in Gardena, CA to a brand new community development in San Pedro, CA. The new house would be built from scratch and bigger than our current home and more expensive, but we have been wanting to move to an area that is safer and nicer than our current neighborhood. We bought our home for $465k in 2015 and we estimate we can sell it for between $800k-$900k. We have about $300k in cash to put towards a new home in that community, which would be around $1.3M. We would have to sell our current home and use that money towards the new house. The new homes are built by KB Homes. A few questions:
Any insight and thoughts would be very helpful here! Thank you!! [link] [comments]  |
| Posted: 13 Sep 2021 04:28 PM PDT I'm closing soon on a house in San Diego. My lender finalized my monthly payment amount. But the taxes are based on my purchase price of $659k. County tax assessor public records has my house assessed at $86k as of 6/30/21. Looking at prior year tax payments online, previous owner paid taxes on $86k. So is it correct for the lender to charge me tax on $659k??? I would think the excess funds in escrow would be a ridiculous amount. Side note I looked up all my comps from appraisal report and they all have huge discrepancies like this between purchase price and assessed price. [link] [comments]  |
| Awesome house, not so great school district Posted: 14 Sep 2021 02:52 AM PDT We found this perfect (for us) house in a not so great school district. Although we don't have children we are concerned about resale value. It's a 4 bedroom house with plenty of space and the ideal demographic would a family who's just starting out. We would want to sell the house in about 10 years. The house hits all our wants and needs so this is a tough call. Any advice? [link] [comments]  |
| Does Anybody Know Of A Free Online Service To Lookup A Property's Deed/QuitClaim, etc. History? Posted: 13 Sep 2021 08:46 PM PDT Hi, Is there a free online service where I just type the property address to show Deed transactions history of such property? (sorry I'm not sure how that data is called) Property is located in California if that matters. Thanks guys 🧏♀️ [link] [comments]  |
| Isn't "Accepting backup offers" in the MLS listing just inviting trouble? Posted: 14 Sep 2021 02:42 AM PDT This is the only region I'm looking at, so maybe it's regional, but I am seeing quite a few listings with "accepting backup offers" in them, for example: https://www.redfin.com/FL/Miramar-Beach/337-Indigo-Loop-32550/home/139332759 Plus this listing is still set to "active". If a perceived better backup up offer does come up, it means the seller pretty much has zero reason to cooperate with a buyer who has potentially spent hundreds of dollars and stopped their house hunting. [link] [comments]  |
| Estimate for preparing raw land for manufactured home in California Posted: 13 Sep 2021 08:26 PM PDT I got an estimate for $75,000 for all permits and to install power, water, sewer, gravel driveway and other basic things to prepare for the installation of a manufactured home in Northern California. Does this cost amount seem like a reasonable estimate? [link] [comments]  |
| SFR - Planned Unit Development. Will this be tougher to sell down the line? Posted: 13 Sep 2021 08:25 PM PDT First things first, this sub has been invaluable as a FTHB. We made an offer on a house, just slightly over asking, and it was accepted. Although it was listed as a SFH, looking over county records and hearing back from the appraiser, it's being classified as a SFR - in a planned unit development. It definitely looks like a (detached) townhome with identical homes on either side. No yard or garden whatsoever. Anyone willing to speculate on whether this will be hard to sell later on, say 8-10 years from now? For reference, it's in the Bay Area, but only barely, in Livermore, CA. [link] [comments]  |
| Is it possible to get a loan with no down payment? Posted: 13 Sep 2021 08:18 PM PDT We're in a sticky situation. We're currently renting and the cost is just about our entire monthly income. To be clear yes we understand that was a TERRIBLE idea. However escaping domestic violence with 3 small children we took the first safe place that would have us. What this means is we have no savings and for the time being no way to actually aquire any especially not the 20-40 thousand I've seen people asking for down payment. Credit score is poor. I know it's such a long shot but I've looked into both FHA and USDA mortgage loans and honestly I feel like I'm at a loss. My fiance's median credit score is close but not quite 580 and the TransUnion score by itself is lower. Does anyone know if there's anything we can do currently? In the meantime we are working on raising credit scores and doing our very best to try and save. Our old mortgage (which seems to be fairly average for houses in this area) was about half of what we're currently paying in rent. [link] [comments]  |
| Posted: 13 Sep 2021 06:20 PM PDT |
| Seller hasn’t responded to Repair Request… Posted: 13 Sep 2021 11:42 AM PDT We are first time homebuyers and this is the first and only house we put an offer in on and it was accepted. ETA: The USDA 502 Direct Loan "a copy of the whole house inspection report must be provided to the Agency". They then review it and either deny the property or order the as is or as-improved appraisal. I HAD to submit the full inspection to the lender (the lender is the USDA). https://www.rd.usda.gov/files/IA_hp_Home_Inspection_Information_022318.pdf USDA 502 Direct Loan Inspection requirements ——————- We submitted the repair request on Wednesday 9/8 to the seller and we have had no response yet, and our inspection contingency expires tomorrow on Monday 9/13. I just re-read the repair request and apparently the sellers have "no obligation to respond". Our realtor has been asking their realtor and the listing agent said Friday 9/10 that the seller was unavailable but she was going to go over it with them "soon". Our realtor said for us to talk to lender (USDA Direct Loan) about what to do if the sellers decide not to fix some items. We know they already started completing some of the repairs bc we drove by and saw them working on the main portion (dry rot in the carport). We have a USDA loan and we only requested the items the USDA requires to close. It wasn't much as the house is in great shape. The worst part was the carport had a lot of dry rot. The appraisal cannot be ordered until they respond. What should we do? How worried should I be? The sellers were accepting backup offers. Here is what we asked for: Requested Repairs: Roof Inspection: All roofing repairs to be completed as stated in roof inspection report dated 8/31/21. ($875 + $325 for certificate, total $1200) Pest Inspection: dated 8/31/21. All pest repairs stated in report to be completed including all Section one and Section two repairs. (Section 1 - $6272, Section 2 - $810, Further inspection - $115 - Total $7197) - Mostly the attached carport has extensive dry rot. But the sellers had already begun repairs before we even put an offer in, and have since appeared to do a lot more work on the carport. Septic Inspection: Completed Septic System has been inspected and cleared by Ned Carnett Septic Services dated 8/30/21 (Seller Paid - cleared) Home Inspection - LANDSCAPING \ Walkway: uneven trip hazard Electrical SERVICE DROP AND SERVICE ENTRANCE: Branches / vines interfering with wires Metal boot / not sealed Location: Roof: Contact the local utility company for repairs. SERVICE BOX, GROUNDING AND PANEL \ Service box: Unprotected openings DISTRIBUTION SYSTEM \ Wiring - installation: Open splices in the attic, Garage, carport extension cords used as perm. wiring. DISTRIBUTION SYSTEM \ Outlets (receptacles): GFCI outlets needed, exterior: install ground fault circuit interrupter (GFCI) outlet(s) Worn receptacles on front porch: Not suitable for outdoor (exterior) use, service panel DISTRIBUTION SYSTEM \ Switches: 3-way not working as intended, Noted - Light For Dinning Room. DISTRIBUTION SYSTEM \ Cover plates: Missing, Noted - Laundry Room Outlet Cover Missing For Dryer./Install approved electrical cover plates They are taking the wood stove with them. CHIMNEY AND VENT \ Inspect/sweep chimney Condition: Inspect (and/sweep if needed) before using Noted - Excessive Chunks Of Creosote / Roof Vent Location: Roof / Wood Stove: Recommend having the chimney flue(s) / venting system(s) inspected and cleaned (if) necessary by an industry specialists. We just found out the sellers are taking the wood stove and caping the chimney - it was in the MLS but WE just found out - so not sure how this plays out. WATER HEATER \ Tank: 1. At the time of installation a pressure expansion tank may not had been required at the cold water supply line to the water heater. However, one is recommended. A water heater expansion tank is designed to help prevent fluctuations in water pressure. Fluctuations in water pressure can potentially damage the water heater and supply lines in the homes plumbing system. 2. At the time of installation a drip pan may or may not have been required under this hot water tank. However, since the tank is in an interior space, or is adjacent to an interior wall, a drip pan is recommended. Any drip pan requires a drain line which is properly terminated to an exterior location. WATER HEATER - ELECTRICAL WIRING \ Fuses and breakers: The electric water heater does not have an electrical disconnect switch within sight of the tank. When someone is repairing an electric water heater, they need to be assured that the electricity stays off while they are handling wiring and connections that could shock if the circuit were to suddenly become live. The installation of an electrical service disconnect is recommendation. FIXTURES AND FAUCETS \ Toilet Loose APPLIANCES \ Dishwasher: The dishwasher is discharging through the air gap indicating the drain line from the dishwasher to the waste disposal is blocked. * Plumbing repair recommended. WALLS \ Wood: Water damaged: Hall bathtub / base board This list will serve as the required repairs prior to the close of escrow. Essentially USDA requires a cleared pest report section one and two. Please provide addendums and Request for Repairs buyer and seller agree upon. [link] [comments]  |
| Should we try and buy a home we’ll only live in for less than 2 years? Posted: 13 Sep 2021 09:25 PM PDT My Wife is in the military and we've been living in Corpus Christi, TX for 2 years. We rent and we just got word today that our landlord is planning to put the house on the market soon. We love our house and our neighborhood and our landlord has been giving us a great deal on rent, so anything else we find to rent will most likely be a major downgrade. Also, we'd rather not move right now just to turn around and get transferred by the military in less than 2 years. The market value is $295k and according to our lease, if we choose to buy, our landlord would have to take 10% of what we've paid in rent thus far as a down payment ($3,900) Only thing is, we've been hit pretty hard by the pandemic. I lost my job early on and then our daughter was born extremely premature in December and is doing well, but too vulnerable to go to daycare with everything going on with COVID, so I've stayed unemployed and just work DoorDash to bring money in. And our credit has taken a hit. But we do have the option for a VA loan. Would it be silly to consider buying it given our current situation? [link] [comments]  |
| Resourceful eBook for New Real Estate Agents Posted: 13 Sep 2021 09:02 PM PDT Just wanted to share this resource with the community. For anyone who is interested in becoming a real estate agent or for new agents starting their career in the industry, this is a must must-read. And the eBook is free! https://www.vaned.com/blog/complete-guide-to-starting-a-real-estate-career/ [link] [comments]  |
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