- Is it shady that some "asset company" seems to have bought 4 houses in my community on the same day last year for over $6 million each? They were worth maybe $200k so I'm doubtful they really paid that but that's what's on record.
- Zillow is facing two class-action suits for allegedly misleading investors about the struggles of its iBuying business
- Buyers Keep Backing Out
- Need advice on PA buyer breach of contract
- Better to close 11/30 or 12/1? Lender keeps pushing for the former
- 203(k) vs. HomeStyle Loans
- UK: buy to let mortgage help
- Find a Mortgage Broker or Wait?
- Better to remove original borrower when assuming a loan or simply add a name?
- Question about asbestos.
- 140k+ under list offer accepted in one of the hottest markets in US but would need to represent myself (not a realtor).
- Landlord did not send invoice for damages - Sent straight to collections.
- California - Has anyone changed how they hold title from joint tenancy to community property with right of survivorship?
- Not enough for closing costs
- How much of a work is it too fully renovate a 2,000sqft house?
- Options for Mortgage in Central Florida
- Torn between purchasing new rental property or paying off mortgage of current rental property
- Landlord asking for more money after I moved out over 4 months ago and already received my security deposit back.
- Who is Liable, Property Management Company or Landlord if Contractor is injured?
- Directory or list real estate digital marketing SaaS, tools, templates, examples, swipe files, graphics etc
- New Primary Home
| Posted: 23 Nov 2021 07:01 AM PST |
| Posted: 22 Nov 2021 04:57 PM PST Interesting developments! What do you think? Did Zillow have a responsibility to inform its shareholders and investors about the risks they were taking? [link] [comments] |
| Posted: 23 Nov 2021 08:53 AM PST My house has been listed for about a month now and I've received probably 10 offers since then. I've accepted 3 offers and for each one, the buyer has backed out before the inspection. The first buyer backed out because their current home didn't sell (although my offer wasn't contingent on that sale). The second buyer backed out for "personal reasons". The third buyer backed out after revisiting the house to measure for furniture and decided the house was too small. I'm tired of taking the house off the market and then relisting again after they back out. I'm not even able to get their earnest money. Does this happen often? What should I do to keep a buyer through closing? [link] [comments] |
| Need advice on PA buyer breach of contract Posted: 23 Nov 2021 05:45 AM PST Hello all. I'm hoping that someone here can provide some advice on legal options. Here's the situation. My parents are selling their home in western PA. They went under contract with a buyer about a month ago. Did all inspections and they've set up all the necessary repairs, put money in escrow for things that won't be done by closing, etc. Closing was originally supposed to be end of Nov. About 2 weeks ago, the dummies went out and bought a timeshare, then asked if they could move closing ahead to today so they could clear their mortgage "before the timeshare showed up in their credit report". Clearly they've never bought a house and don't understand that those things show up immediately when you're credit is pulled. So now the buying agent is paying games trying to get their mortgage to clear. The market sucks where my parents live and it's going to be really hard for them to find another buyer, even though they've put a ton of work into the house and it looks great. Is there any legal recourse they can take against the buyers due to their egregious and negligent breach of contract to recover money lost because they went out and bombed their credit before closing? They have now moved into an apartment as they were supposed to be closing today, so now they have an apartment lease and a mortgage to pay on top of additional debt taken on to correct issues for the sale. Any advice would be greatly appreciated, and please let me know if there are additional details I can provide. Thanks! [link] [comments] |
| Better to close 11/30 or 12/1? Lender keeps pushing for the former Posted: 23 Nov 2021 09:23 AM PST Hi everyone, FTHB and running into this issue as my lender has been pushing for an earlier close even though I've stated I cannot but wished to see if financially, it's worth it and/or I'm missing something. DFW market in case it matters. He keeps pushing that closing 11/30 will lessen my interest burden as I'll need to pay the entire month of interest in December, but the interest total is such a small fraction of the mortgage payment that'll get deferred another month if I close 12/1 instead. Also, sellers have leaseback until December anyway so my incentive/rush is even lower. Is there any advantage I'm missing from choosing to close 12/1 besides the low interest payment that's due at close if I were to choose 11/30? Sorry in advance to any mistakes in this post [link] [comments] |
| Posted: 23 Nov 2021 10:27 AM PST Hello, I'm hoping to get some opinions on the 203(k) and HomeStyle loans... I'd like to do some major renovations to a country farm house. The acquisition cost is $111,700, and the renovations right now are just at $134,000. (55% of that renovation cost is a wrap-around cement porch). It seems to me like the HomeStyle loan is a better product, but because the renovations on that loan are capped at 75% of acquisition cost, I'd be stuck with the 203(k) loan if I want to use that as the vehicle to get all the renovations done. I guess my question is whether the 203(k) is an okay product and how it stacks against the HomeStyle loan, and whether I'd be better off trying to minimize my renovations to below 75% of the acquisition cost to utilize the HomeStyle loan. (which would involve removing the wrap-around porch) And if I do use HomeStyle and remove the porch, what other options would I have to finance the wrap-around porch down the road? [link] [comments] |
| Posted: 23 Nov 2021 10:00 AM PST Hello, My in laws bought a house 25 years ago. They ran into some problems and their friend bought that house around 10/15 years ago, and let them live in this house, under the condition that they would be able to buy the house off him again, for the same price they sold it. This year they were finally in the position to do this. Their landlord had to remortgage just before they were ready. No big deal. In order to do so, the bank had to interview them as long term tenants. As soon as the mortgage was granted, he has given them notice to move out, and is moving his daughter in (for free) as we speak. I wondered if there was any legal rights they had, as it doesn't sound right. Im not too worried about them buying the property, but the whole thing seems pretty snakey, he knew he wouldn't be able to remortgage with his daughter living there… can anyone shed some light? Thanks [link] [comments] |
| Find a Mortgage Broker or Wait? Posted: 23 Nov 2021 05:59 AM PST My wife and I are under contract for a home in Florida that costs $4.2M. We have a high net worth (about $20M), but since our income took a big jump this year (mostly dividend from a privately-held business I own and the sale of a few rental properties) it's proving tricky with banks to get the proper financing at this price point. So we ultimately had to get a bridge loan from a private family office for …… 9%. Otherwise, I had to risk essentially using all of our free cash to fund this purchase. Obviously a 9% loan isn't ideal, but are we better served waiting until we file our 2021 taxes to show that big multi-million dollar income, or should we really start hunting for a good mortgage broker that can get this thing done? [link] [comments] |
| Better to remove original borrower when assuming a loan or simply add a name? Posted: 23 Nov 2021 08:08 AM PST I inherited a home and am in the process of assuming the loan as a successor in interest. I was given the option of a simple assumption where my name is added to the loan, or removing the original borrower's name entirely. Are there any clear benefits to choosing one or the other? [link] [comments] |
| Posted: 23 Nov 2021 07:49 AM PST So I'm about to sell my home in upstate NY and I have steam heating in my OLD house. The pipes downstairs are wrapped with asbestos (all in good condition) the realtor came and told me I should wrap it in some sort of tape which if I do end up doing will be one hell of a hassle. I'm wondering does anyone know if I can just paint over it? That technically seals it in right? Will that pass inspection? [link] [comments] |
| Posted: 23 Nov 2021 02:02 AM PST Thanks in advance for any help. This is in Socal btw. I've been renting at the same 3/3 condo since 2018 and have a good working relationship with my landlord. Recently they informed me they were looking to list their place due to rising value but wanted to see if I was interested in it first. The place would sell for around 680kish based on my research and speaking with a few realtors in the area and we settled at 540k. The thing is her mom is a realtor so we would would basically be handling the transaction thru her so she doesn't need to pay any commissions. What do I need to do to make sure I am handing this properly? We agreed to do an inspection, how should we handle any items that could be considered wear and tear in our time here and would def need to be replaced before she listed it (our dishwasher is basically broken and she knows this). Should we still hire a closing attorney to help us at signing? Also would it be rude to maybe ask for another 3% reduction (or maybe to split it?) because she is saving a lot by not hiring a realtor and I am finding myself doing a lot of work to make sure I am doing everything correctly or is this being too greedy like were already getting super hooked up so I dont want to push it but I've been spending 10+ hours a day learning about real estate stuff in order to make sure I don't mess up some small detail and my time/sanity is worth something right? [link] [comments] |
| Landlord did not send invoice for damages - Sent straight to collections. Posted: 22 Nov 2021 03:39 PM PST Hello this is in Missouri if the laws differ state to state. The title pretty well encompasses the issue and I'd appreciate any information for steps to remediate or what I need to do. A little backstory, my wife and I bought a house in August with our lease at our apartment set to expire in October. As we moved out I knew we'd have to pay to repair some of the carpet (we'd adopted a puppy and she tore up a 1x2 section one day. Was a huge mistake, but we understood we'd have to pay for it. We were honest about the damage). I expected a bill for $1000 or so as I assumed they'd argue the entire apartment carpet would need to match. As I moved out I was told I would be emailed and mailed an invoice within 7 days of our lease ending. So I waited for 7 days and had yet to receive anything. Called the office and was told it must be in the mail. I thought it was suspicious they couldn't directly answer my question or send me an electronic copy so I tried to check my online rental account and found that it had been deleted. I've called them twice since then with the response each time being something to the effect of "we mailed it to you idk why you don't have it. Oh yes your account is closed so we can't look it up." I was not surprised in the least when today I received a bill in the mail today from a collections company claiming I owe them $1000 from the apartment. I am furious that my account was sent directly to collections and the apartment complex is now claiming they can't produce a breakdown of charges. Do I have any methods of recourse to make sure this doesn't impact my credit score? As an aside, I truly don't mind paying the bill. I budgeted for it and planned for it because I understood it was our mistake. I am livid that they refused to communicate with me and instead sent me directly to collections. [link] [comments] |
| Posted: 22 Nov 2021 10:48 PM PST My husband and I bought a house together about 6 months ago, and selected to hold title under joint tenancy, which turned out to be a mistake. His parents consulted a lawyer and hold their title that way, so we assumed it was the best option for us too, but we were wrong. We would like to change how we hold title to community property with right of survivorship. We are currently both on the title, but only my husband is on the mortgage, and we don't intend to change that. Has anyone else in California been in a similar situation where you changed how you hold title? If we want to change how we hold title, will we have to refinance, or just file a new deed with the county? [link] [comments] |
| Posted: 23 Nov 2021 07:29 AM PST Hello, If you did not have enough money for closing costs and escrow, how did you cover these costs? [link] [comments] |
| How much of a work is it too fully renovate a 2,000sqft house? Posted: 23 Nov 2021 07:18 AM PST Title. We found this house we're interested in in a good neighborhood at a very reasonable price, surrounded by expensive houses but seems like it needs a lot of work, mostly cosmetic though. Also we would need to finish a basement etc. We're first time home buyer, so I don't know what we're up against. After seeing so many poorly renovated houses with a 'lipstick' on it before being put on a market with an insane pricetag, I feel like it would be more worth it to pick a house that hasn't gone through a renovation and do the job properly ourselves. We know that all the contractors and backed up for months, but I think we have a patience to wait. Edit: + We have at least 500k for the renovation. [link] [comments] |
| Options for Mortgage in Central Florida Posted: 23 Nov 2021 07:07 AM PST My husband is currently here on an EAD. He has 3yrs of work history and has a good credit score. We have a healthy down payment to put down on a house. A lot of lenders we spoke too are looking for a permanent residency card which we are in the process of obtaining but it could 1yr or more. Rent in my area is more than a mortgage at this point and we would like to buy when our lease is up in 6 months. Do any lenders on here now if we are even eligible to obtain a mortgage loan without his permanent residency? [link] [comments] |
| Torn between purchasing new rental property or paying off mortgage of current rental property Posted: 23 Nov 2021 12:24 AM PST Hello everyone, I'm fairly new to the real estate game, but I was able to purchase my first property last December. I work overseas, so I AirBnB/VRBO it out year round. It's a 3 bed/3.5 bath townhome and I have a 30 year mortgage with a 2.25% interest rate. I pay $2500 monthly, including HOA dues. Location is great, it's in Fort Lauderdale and just a 2 minute walk from the beach. So I don't have too much trouble keeping it fairly booked, especially during the winter/spring months. I also have a property manager that I pay 15% to manage the listing. Overall I didn't profit too much last year, but was able to pay my mortgage/HOA from the earning. Now I have saved enough for a down payment on another rental property. But I'm thinking it may be more profitable to simply pay off the mortgage as fast as I can, so eventually I can just keep all of the profits on this house. TLDR: I simply want to bring in as much passive income as possible and I'm not sure weather paying off my current mortgage or taking out a second mortgage for another rental property is the best option. Any advice is appreciated! [link] [comments] |
| Posted: 22 Nov 2021 04:58 PM PST Hello- I'm looking for advice on what to do about this situation. I moved out of a unit I was renting from a large property management company in Portland Oregon. I lived there for 3 years and recently bought a house so I terminated my lease and paid the required fees for doing so. I was told that I could pay them a small fee to clean the unit for me, so I did. I paid them 285 dollars to take care of the unit and that included carpet cleaning. I was officially out of the unit by July 1st and my closing walkthrough was done by July 5th. They sent me the report, stating the carpet needed heavy cleaning and the unit was moderately dirty. (Which it was, not gonna lie. The carpet was nearing end of it's life before we moved in 3 years ago. ) I didn't do much cleaning because I paid for a service for them to clean for me. I received 1k out of my security deposit (originally 1295) with a statement saying they took 295 for carpet cleaning and to replace the kitchen sink. I was mailed back my check in August. Now I get an email from their collections department asking for 400 more dollars. They want 200 more for "heavy cleaning" 100 for minimal haul out (I left some small things behind like some curtains and cleaning supplies under the sink.). They also want 100 for blind cleaning. Am I obligated to this? It seems unreasonable considering I already paid 285 to have the unit cleaned. [link] [comments] |
| Who is Liable, Property Management Company or Landlord if Contractor is injured? Posted: 22 Nov 2021 09:50 PM PST Hi, will my property management company or I be sued if the contractor or workers are injured at my rental property? I have a rental property that requires extensive rehab. My property management company recommended a general contractor to do the rehab. I make the payment to the property management and they in turn issues funds to the general contractor to do the work. If the contractor or their workers get injured on my property, would the property management company be sued since the property management company issued the funds for my rental property? Thanks in advance! [link] [comments] |
| Posted: 23 Nov 2021 04:03 AM PST Does anybody know of a good source, library, membership or directory of good real estate agent digital marketing software, SaaS, templates, examples or tech services of any kinds, copy, swipe files, email sequences, social media graphics, printables, LP creators etc? Where can you find good examples of these things for agents, ideally stuff that can actually be tweaked and used by agents easily in their own business. Trying to build a list of the best marketing and sales resources for agents specifically around advertising listings and recruiting new listings. Ideally core RE marketing examples or resources that could be relevant to agents worldwide not services specific to 1 country (like a US lead generators for example). Thanks! [link] [comments] |
| Posted: 22 Nov 2021 11:57 PM PST I have a primary home, a recently purchased second home and a couple investment properties. All were purchased as such. I now want to rent out my current primary home and purchase a new primary home. As it pertains to conventional financing, would the new primary home come with standard primary home down payment % requirements? Any other issues / caveats? I have approximately 50-60% equity in the current primary home if that makes a difference. Thanks! [link] [comments] |
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