White House releases steps they plan on taking to making housing more affordable and decrease buying power of big investors. Thoughts? Real Estate |
- White House releases steps they plan on taking to making housing more affordable and decrease buying power of big investors. Thoughts?
- Opendoor changed closing date on date of closing
- Should I look into other lenders?
- Shared well in Arizona? Any stories concerning wells?
- Bathroom remodel - what would you do differently?
- Advice needed. Found dream house, but lots of of big ticket items found in inspection. We waived all inspections except septic and well ::FACEPALM::
- Wife originally on loan and title. Possible to refinance under husband?
- Refinanced a few months ago with streamline FHA
- About to make an offer; addresses on paperwork don't match?
- Builder threatened to terminate Contract because I won’t use their Lender
- Tips to estimate construction site prep costs?
- RE DEVELOPER
- Question
- Any Real Estate CRM recommendations?
- Real estate exam
- I'm filing a title insurance claim - do I need an attorney and if so how do I find one?
- Any things I should look out for in an ibuyer purchase agreement?
- Lender fumbled closing date, seller is unhappy. Should I be worried? (NJ)
- Considering a house with property line issue (Houston, TX)
- How much will a section 8 voucher pay for a 2 bedroom unit?
- Is this stupid? Buying house with land and subdividing as FTHB.
- Does Opendoor ever move up the closing date?
- Estimated closing dated extend at least 3 months to an unknown date "next year"
| Posted: 03 Sep 2021 10:48 AM PDT |
| Opendoor changed closing date on date of closing Posted: 03 Sep 2021 07:01 PM PDT Today we were supposed to close as sellers. At around 6pm, we received an email from opendoor: "Customer Update: Your customer's final closing date has been changed to Tuesday, Sep 07 at 12:00 PM (PDT)" ——How can they change closing date without any prior communication or reimbursement?! We have vacated the house 3 weeks ago so everyday costs us $$ Such a disappointment the whole process, delay in returning docs, miss closing date. Be aware. Also would like ask if we can just back out and put it on market with an agent... they only put down 1k earnest money, not sure if we can keep it [link] [comments]  |
| Should I look into other lenders? Posted: 03 Sep 2021 10:47 PM PDT First time home buyer in Texas. I got pre-approved from one lender that I found on Zillow>Agent>Lender. Should I look into other lenders? Anything I should know? Watch out for? Any other pulls to my credit right now would mess things up (I had to go run out and put a quick $10 balance on my credit card to bring my score up a little bit) [link] [comments]  |
| Shared well in Arizona? Any stories concerning wells? Posted: 04 Sep 2021 12:17 AM PDT We are moving from California to Arizona soon, and a lot of the rural properties we are looking at have shared wells. How do those work and is it a bad idea to buy a property with a shared well? Thank you. [link] [comments]  |
| Bathroom remodel - what would you do differently? Posted: 03 Sep 2021 08:30 PM PDT This is more just for fun since I don't own this house, but whenever I see a house that needs updates I've been enjoying figuring out plans on how to update them. On this one, I thought the master bedroom's closet and bathroom situation was so awkward. This is my first draft on what to do to make it less cramped since the bathrooms are pretty out of date anyway. I drew this from memory so it's not perfect scale, but the closet was so small and half of the closet space seemed to exist just for the door to have room to open. I also chose these layouts with vanity sink counter space in mind. My questions are:
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| Posted: 04 Sep 2021 03:20 AM PDT We found our dream home, after at least 15 offers and about seeing about 100 houses. Perfect location, amazing lot, architecturally what we want, but we found a ton of issues at our inspection today. The home needs a new roof, termites, carpenter bees, tons regular bees in the exterior soffit, lots of windows need replacement, water coming out of the chimney, the fireplace insert is toast, evidence of mold in the basement, bathrooms leaking to the downstairs, all the kitchen appliances are throw aways (oven has a frightening fungus, vent hoot dangling, trash compactor dead, fridge is super old), all of the siding needs to be replaced or heavily repaired, a deck needs to be completely rebuilt… there was no sellers disclosure because it is an estate. We waived all inspections except septic and well. Things we knew going in and anticipated costs were remodeling the kitchen(80s, in less than ideal condition) and all the bathrooms, as well as remediating the overgrowth of landscape after 5 years of neglect. We are at the top of our budget with our offer. We are still pending our septic inspection and praying it fails so we can renegotiate. But if it doesn't fail.. what would you do? We found our our agent is a terrible negotiator and is always extra by the book. He cannot provide anything helpful in terms of what we can do to adjust the offer. Something I thought of, it's a little risky and dirty… we disclose everything we found in the inspection report to the sellers agent. Say we need to renegotiate or we are walking away (they keep the 5k earnest deposit). My hope they would be willing to disclose because I'm guessing they will have to disclose everything we found in our inspection? Any other ideas on how we can possibly get the price reduced given all these problems? I know we waived most of the inspections (DEEP REGRET). I am unsure of whether to give up the property because We love it so much, but we would be making a BAD deal. Sorry if there are errors all over this post. I woke up at 3 am because I couldn't sleep and it is now 6:30am. [link] [comments]  |
| Wife originally on loan and title. Possible to refinance under husband? Posted: 03 Sep 2021 08:38 PM PDT My wife is on maternity leave for the next 4 months but we want to refinance our home that was originally purchased under her name. Now that she's on maternity leave it will be difficult for her to refinance (she'd only been working at her job for 1 month before 6 months maternity leave). Is it possible to refinance and take out a loan under just my name now? Note:we are in Florida [link] [comments]  |
| Refinanced a few months ago with streamline FHA Posted: 03 Sep 2021 07:28 PM PDT Now we are about to close on another property that will be a FHA. We want to rent the property we refinanced. Does it show up in their system that we have a streamlined and new mortgage? Do I have to tell them I am renting a refinance less than 12 months living in it? Want to make sure we are compliant. [link] [comments]  |
| About to make an offer; addresses on paperwork don't match? Posted: 03 Sep 2021 03:27 PM PDT I have a call out to my buyers agent, but she hasn't answered in a while and I'm getting a bit stressed, as this is the first offer we've put in. We are preparing to put an offer on a starter home in New Jersey. (using a fake address) On the MLS sheet, Zillow listing, lead disclosure, and sales contract, the address is 555 Rainbow Road. However, on the house itself and seller disclosure form, the number is 557 Rainbow Road. When I enter the address in Google Maps, it lists the address as both 555 AND 557. I'm really not sure what to do. Is this a problem? A red flag? I know I have to get the answer from my agent, but a Google search turns up nothing, and I'm wondering if anyone else has run into this? UPDATE: apparently it's not uncommon in this area to have weird hybrid addresses with two numbers. My agent said the tax docs say 555, so that's what matters. [link] [comments]  |
| Builder threatened to terminate Contract because I won’t use their Lender Posted: 03 Sep 2021 10:44 AM PDT Hey Everyone, I don't know what to do and what laws got my back. Basically I'm 14 days out to close and have been working with my preferred lender for since 26 days before close. I had to get prequalified with the Builders lender to go under contract so I did But never signed any final agreements. My preferred lender has already complete appraisal and is almost done processing. The builder states he never knew I went with another lender therefore if I don't use his lender he will terminate contract. (Contract states if I switch lender before 30 days builder can terminate.) Does anyone know what options I have? Thank you so much in advance, I really like this home but forcing me to go with another lender throws some red flags that I can't accept. [link] [comments]  |
| Tips to estimate construction site prep costs? Posted: 03 Sep 2021 10:21 PM PDT I have a parcel I'd like to build a home on. I *think* have have a general idea of the site prep activities that I'll need to complete, but I have zero confidence in my estimates.Who should I engage to do this sort of estimation, and what's a ballpark estimate of the cost? I own a couple unimproved acres on Vashon Island, near Seattle on Puget Sound. Adjacent lots have homes, but none were built recently. I'm trying to figure out what it'll cost to build a hovel there, but it's really tough. The people I've dealt with thus far can't give me any sort of idea what it will cost. Seems to me I should be able to get at least a ballpark number ("yeah, I'm guessing $100K, but that could be off by 10% as costs change over time...and of course depending on the bells and whistles you choose.") I recognize that there are some variables (slope, soil characteristics) which would introduce additional uncertainty. But jeez... I've had a well drilled, but that's it. I have a general idea of what the site prep activities are (clear building footprint, install a septic system, pour a foundation...) I'd like a general idea of what that might cost. I've looked at estimation sites and I've talked to a few local pros, but I still have zero confidence in the numbers. I know that the PNW is a high cost area (let's say 1.5x costs inland) and that costs on the island would be even higher (let's say 1.75). But...1.75 x [some unknown number] doesn't tell me much. [link] [comments]  |
| Posted: 03 Sep 2021 10:19 PM PDT Can I become a real estate developer with internship experience ? [link] [comments]  |
| Posted: 03 Sep 2021 10:18 PM PDT A 21x21 garage is built in every house in the community. What is this an example of? [link] [comments]  |
| Any Real Estate CRM recommendations? Posted: 03 Sep 2021 10:00 PM PDT Looking to find suitable CRM software for a 3 person team. Please let me know if you have any recommendations, any good or bad experiences also help. Here's my wish list: -MLS integration -DocuSign integration -Real Estate specific -App version available -under $50/user/month -Can automate mass emails and anniversary emails -Has a variety of message/mail templates -Has lots of space for notes within client profiles -Can call/email/text through the software -Dashboard, task list, calendar, etc. -Useable in Canada
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| Posted: 03 Sep 2021 09:49 PM PDT Hi I am currently going to take my test for the national portion of the real estate exam. I have a couple questions. If anyone is whiling to help, please message me. [link] [comments]  |
| I'm filing a title insurance claim - do I need an attorney and if so how do I find one? Posted: 03 Sep 2021 01:47 PM PDT I recently bought my first home in Denver, CO last month (yay!). After I moved in I was talking with the electric company about a utility box on the property, and they gave me documents which showed me 2 previously unknown things:
I contacted a surveyor on my own who agreed with the electric company's map. I then contacted the Denver Assessor's office, and they agreed that their public map was in error and that they would make a correction to shrink my lot. Based on the assessed value of the land, that's about a $40k hit to my property value, and more like $50k if you go off the purchase appraisal rather than the assessment. I intend to file a claim with my title insurance for these oversights, but this is a significant chunk of money so I want to solidify my odds that I'll get a return out of it. Should I get a real estate attorney to help me file the claims? If so, how do I go about finding one? Google? I'm not familiar which of the 'trusted reviews' sites for lawyers aren't totally bogus. My relator and my attorney friends didn't have any connections that had experience with these sorts of issues. To be completely honest, I'm not clear exactly who has what interests at stake here. Are my mortgage provider and title company on my side, or on the side of the title insurance company in not wanting a claim paid out? Or are they impartial observers at this point? [link] [comments]  |
| Any things I should look out for in an ibuyer purchase agreement? Posted: 03 Sep 2021 03:13 PM PDT The ibuyer I'm working with (RedfinNow) sent me an offer that looks good, and now they're sending me a purchase agreement. Does anyone who's been through this process before have any thoughts about what I should be paying attention to? [link] [comments]  |
| Lender fumbled closing date, seller is unhappy. Should I be worried? (NJ) Posted: 03 Sep 2021 12:19 PM PDT Despite me getting all required documents to my lender two weeks early, and being prompt with all asks throughout the process, I just got a call from my lender, PNC, that they are not going to be able to meet closing on the 9th. They said they would be able to make the following day, the 10th. However... My realtor is pissed because she can't be available on the 10th. Neither can the seller's realtor. (Remember - this week is a holiday weekend.) Just got word the seller is not happy at all. Should I be worried? This all seems out of my hands as it was the lender's blunder. [link] [comments]  |
| Considering a house with property line issue (Houston, TX) Posted: 03 Sep 2021 02:59 PM PDT Wife and I are considering putting an offer in on a house that meets most of our requirements. However, the back of the property sits up against an US Post Office parking lot and portions of the fence is a couple feet past the property line on the Post Office side. A survey conducted when the current owners purchased the property in 1994 revealed the discrepancy between the fence line and the property line. The fence was damaged in 2008 and the HOA requested that the owners obtain permission from the USPS to erect the replacement fence along the existing fence line which the USPS agreed to. Seems like there hasn't been a issue over the last 2 decades. Does anyone have insight into what kind of potential headaches this could cause in the future and would this be a deal breaker to you? Thanks for your time [link] [comments]  |
| How much will a section 8 voucher pay for a 2 bedroom unit? Posted: 03 Sep 2021 08:37 PM PDT We have a HUD voucher, and we want to transfer it over to another rental unit. It has 2 bedrooms, Does any one know the amount of rent the HUD voucher would cover for the property? The landlord is trying to ask for $900, would it be possible for them to get that? [link] [comments]  |
| Is this stupid? Buying house with land and subdividing as FTHB. Posted: 03 Sep 2021 02:23 PM PDT Edit for the Verdict: This is stupid to do and we will not be doing it. Thanks everyone for your input & insight! I've been actively looking for houses in the Bay Area but almost everything in our budget isn't appealing at this point. We've never really been keen on living in a townhouse or tract home with neighbors breathing down our necks but that's all that's "affordable" in the area right now and I'm suffering from FOMO that eventually we'll be priced out of the area completely if we don't purchase something soon. If you're familiar with the area - we've been considering purchasing in the Santa Cruz mountain area but our jobs are in the East bay and we'd like to keep our commutes under an hour thus can't venture out too far. A lot of the properties in this area are on huge lots which is why we like the area but we also don't want to maintain or pay for 10+ acres of land. Would it be stupid to purchase a fixer-upper on a 10 acre lot, priced a couple hundred thousand dollars over our budget with plans to subdivide the lot, sell the additional parcels and refinance to an amount we're more comfortable with paying long term? We could float the larger mortgage temporarily but don't want to tie up all of our income in a mortgage for 30 years. We're first time homebuyers and aren't experts in real estate. Is this scenario completely stupid to even consider? The property is located about 10 miles from one of the most highly desirable towns in the South Bay. There are other properties/lots off the same road that are 2-3 acres in size and the parcel is zoned "SU" or Special Use if that makes a different. Looking for a reality check if one is due! [link] [comments]  |
| Does Opendoor ever move up the closing date? Posted: 03 Sep 2021 09:46 AM PDT I'm clear to close 2 weeks above my closing date. From your experience, will Opendoor be open to move the closing day up a week? [link] [comments]  |
| Estimated closing dated extend at least 3 months to an unknown date "next year" Posted: 03 Sep 2021 02:33 PM PDT Not only has it been massively extended, but no one tells us. We just keep finding out when we ask our agent to call and ask why they haven't started building yet. This is becoming a MASSIVE financial burden, because we are now paying month to month rent and are driving our daughter to/from school 20 minutes away. We were prepared to close on or around October 22. My lender (yeah, my lender...I don't know anymore) emailed and said we would have to re-do the loan process because the house won't be done until "sometime next year". I informed my agent and she said this was the first time hearing it. We can't afford to lose or $10,000 EM. My agent seems pretty lost. Options? [link] [comments]  |
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