Real-time Real Estate business data collection. Real Estate |
- Real-time Real Estate business data collection.
- Real estate attorney for Opendoor sale?
- Equity Trust company dragging out sign off to close
- [NY] renovate or buy a new home question
- Escrow Shortage vs Escrow Balance
- Where to report occupancy fraud?
- Raising rent? When, why?
- Seller just came to my house unannounced trying to cancel his sale (CA)
- Buying a new construction home. Best way to deal with long term rate lock?
- Condo profit
- Inspector shared report with seller’s agent
- Buying a house in USA from abroad?
- Value of an ADU vs renovations to join ADU + SFR
- Buying land without realtor
- ELI5 - How do sellers make a profit with closing costs being as high as they are?
- Multi-county House Hunting Questions
- Ohio FTHB Jitters
- To Realtor or not Realtor?
- How do you let your client know about their bid?
- Is there any way to correct a Walk Score?
| Real-time Real Estate business data collection. Posted: 14 Dec 2021 06:08 AM PST Is it possible to acquire a real-time data log of sale, purchase, leasing, renting of real estate through an efficient third-party other than the government of any particular state or country to use that data to influence a specific type of market? [link] [comments] |
| Real estate attorney for Opendoor sale? Posted: 14 Dec 2021 04:06 AM PST Apologies if this is not allowed, but I'm likely moving forward with selling my home to Opendoor. This is my second home sale, but first with an iBuyer. Should I get a real estate attorney to look over everything prior to signing? Is there anything specific I need to be aware of? [link] [comments] |
| Equity Trust company dragging out sign off to close Posted: 14 Dec 2021 04:03 AM PST I'm currently in the process of buying my first home in central Indiana and am finally to the part where I get to close. The problem is that the house used to be a rental so it is being sold thru an IRA equity trust and they are "slow getting information over to title" per the seller's agent. Is this common? or are they intentionally dragging this out? I'm trying not to speculate but it's too early (6am in my location) to call my realtor/mortgage company and ask. Everything else is done--inspection, appraisal, repairs, re appraisal--what reason might they be taking so long? [link] [comments] |
| [NY] renovate or buy a new home question Posted: 14 Dec 2021 06:51 AM PST Cross posted : So we currently owe around 200k on our mortgage. House would most likely appraise for around 700k. We love the area we live in and would ideally stay in this area forever. Not much has come on the market in this area but there have been a few over the 1mil mark that nonetheless need work done. The reason for moving and or renovating is that it is simply time for new things (roof. Windows, siding, updated interior) Our dilemma is do we stay in our home and put major money into our renovations here or move into something that may have a lot of the big items updated already. Second part of the question is if we do decide to stay here how would that work financially? Do we take out a loan (construction loan) to handle the major renovations? Do we refinance the house? Just not sure which road to take. Thanks for any advice guys/gals. [link] [comments] |
| Escrow Shortage vs Escrow Balance Posted: 14 Dec 2021 06:43 AM PST Hello All, I am pretty inexperienced in mortgages, escrow and the likes as it's our first home. So I am asking this question to learn about these things better and maybe others in my boat can learn too. When I logged into my Rocket Mortgage account online, I was a bit surprised to see an increase in my monthly mortgage due to there being an "Escrow Analysis" and a "Escrow Shortage" due to school taxes increasing. Being the curious chap I am, I decided to make it a little goal to understand this better. (We are also living paycheck to paycheck at this time bacause my wife is not working at the moment, so one salary) What I have understood so far is my county's school tax (I'm in upstate NY if that has any consequence) has increased, Rocket Mortgage was notified of this, and they, in return notified me that I was short by $895.82 resulting in my monthly payments going up +$136/month. Out of curiousity, I downloaded my running transaction report from Rocket's website, which shows my running Escrow balance over the past 2 years. As of 12/7/2021, which is my latest mortgage payment, it says my escrow balance is $2,863.59. Back on 9/15/2021, it shows that $3,935.75 was taken out of my escrow, which is the exact amount of the reported school tax for this year. If they have already withdrew the school taxes from my escrow to pay the school tax AND I have a balance of $2,863.59 as of current in my running escrow balance, then I am lost as to why they are saying I have a shortage in my escrow. Additionally, there is also a town tax that was also taken out of my escrow balance. Recap...
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| Where to report occupancy fraud? Posted: 13 Dec 2021 08:26 PM PST So, as it seems to be the common thing these days, I found out a guy that bought the house next to me in fact committed occupancy fraud. The deed lists the property as his current address, but he has never lived there and has put the house up for rent 60 days after he bought it. The home is sitting vacant and I looked at the mortgage docs and he did not buy it as an investment property and got an owner-occupied loan putting only 5% down. He got the mortgage through Quicken Loans. Do I contact them? The FBI? [link] [comments] |
| Posted: 14 Dec 2021 05:54 AM PST Quick overview; 2 family I have owned for 3 years. North Jersey area. Unit is updated 2br, deck, yard, basement & driveway. 1st year rented out for $1700 p/mo. That family moved and unit was unoccupied for one month, I was considering selling. Ran into an associate as he was otw to see a different apt close by. I advised of the availability and he took it. I rented it to him for $1600 p/mo. He is a 100% solid tenant. Looks after the place, pays on time, good communication, etc. 2 years this month have passed and since it's a business, I need to stay current. Also, Covid has pushed the rental prices up. I estimate if I were to rent to new tenants, I could ask 2k-2200. Dilemma. Thoughts? Advise? Tnx. [link] [comments] |
| Seller just came to my house unannounced trying to cancel his sale (CA) Posted: 13 Dec 2021 07:33 PM PST As the title states, we are in escrow pending the sale of our home (which explains how the seller of our potential home has our address.) Almost a week after signing he decides to send a notice of cancellation which of course we decline. He has since stopped communications with his agent and has been communicating through his broker. Tomorrow we were supposed to have our inspections and the broker shared to not show up as she is "concerned of his reaction." Today we were informed that all future communications be handled through his attorney. Today he came to our home in the evening. I did not answer and minutes later our agent texts us saying he called her pretending to be someone else and then admitted he was at our home and that not only was he not selling his home but that we would not be getting anything (out of the deal.) I am scared; police would not take our call as he technically just rang the doorbell. Tried to file a police report but it is not an offense. We have a meeting with our attorney tomorrow but am still just shaken and nervous that he would have the gall to try to harass us in person. Not sure what advice can be given as we seem to be taking the proper steps to proceed cautiously but if anyone has advice it is appreciated. [link] [comments] |
| Buying a new construction home. Best way to deal with long term rate lock? Posted: 13 Dec 2021 08:43 PM PST I'm building a new home with MI Homes. Construction starts this month and the "estimated" close date is in June. I'm a bit concerned about interest rates going up by June and wanted to see my best course of action for locking in an interest rate for 9 months, which gives me a cushion if there's a delay? It's a 30 year fixed rate and we don't want anything added at close (I've seen some that can add up to 0.5%) so I either want it to stay the same or have the option to float down. MI gives us $5,000 to close if we finance with them, so I'm wondering if I should try to lock with them or try an outside bank? Any advice on the new build + financing would be greatly appreciated. Thanks! [link] [comments] |
| Posted: 13 Dec 2021 07:16 PM PST First off, not a real estate investor, but I've always wondered. Some people care only about making a return on their rentals, but I don't see (often) the fact that, even if a property is break even for instance, why do so many people ignore the fact that principal is being paid down as a benefit? Reason I ask is, I'm moving out of state and renting out my condo. Rent will likely ONLY cover my expenses and nothing more. I like the idea of owning the property, as it's in Chicago and hoping it appreciates + I don't want to take the commission hit selling it + I have a really good rate (which I might not be able to get again by the time I'm able to afford a house - currently not working a W2/high paying job atm and the market I'm going to is really expensive) [link] [comments] |
| Inspector shared report with seller’s agent Posted: 14 Dec 2021 06:56 AM PST Just came to our attention that the home inspector shared the inspection report with the seller's agent, without our permission. This has effectively taken away any leverage we had to negotiate. The inspector says, the contract we signed says he can share it with all interested parties. This does not sound right at all. Any advice? [link] [comments] |
| Buying a house in USA from abroad? Posted: 14 Dec 2021 12:19 AM PST I'm American and live abroad with my husband. We are intending to move back within the next couple of years. We have a down payment saved for the LCOL area we are intending to move back to. I'd prefer not to rent or impose on family when moving back, which would mean buying a house from abroad. Is this at all possible? I could go back next year for a couple of weeks, and we have family in the area who could help us keep an eye on things. [link] [comments] |
| Value of an ADU vs renovations to join ADU + SFR Posted: 14 Dec 2021 04:55 AM PST I have a SFR investment property with an ADU above a 2 car garage so that the 2 car garage is not accessible to the main part of the house. In my town, there's an owner occupancy requirement so that I cannot rent out the ADU and SFR separately to two parties. I would have to live in either the ADU or SFR. Since I cannot rent the ADU out separately (vacant now), would it boost value for buyers to gut the ADU and make renovations to connect the two units? I live in a moderately HCOL area where there aren't a lot of homes with ADUs, so I feel like most buyers would not be interested in being a landlord although financially it would go a long way for a buyer to rent out the ADU and offset the mortgage significantly given the price of rent here. The other thing I was thinking of was asking the housing board for an exemption to the owner occupancy rule, but then I would put a target on my back and they would know that I was trying to rent the ADU without living in the SFR. I have 40% LTV in the house, so doing a cash-out refi down the road and renting units has been something on my mind. Thank you. [link] [comments] |
| Posted: 13 Dec 2021 07:50 PM PST I've found a parcel that's for sale by owner and want to try working through the process without a realtor this time. Any tips? Is there a good contract/offer template anyone would recommend? [link] [comments] |
| ELI5 - How do sellers make a profit with closing costs being as high as they are? Posted: 13 Dec 2021 09:50 PM PST I am a first time buyer but thinking about my potential return on investment down the line when we sell. I'm learning about seller closing costs and how they're 6-10% of the sale price. If a house is, say, 600k and goes up in value to 635k, is that actually not a net profit for the seller due to closing costs? Seems so crazy but this is all new to me. PS why don't they teach this stuff in school? Haha [link] [comments] |
| Multi-county House Hunting Questions Posted: 13 Dec 2021 06:15 PM PST Hi! Sorry if this is the wrong place to post this, I just couldn't find anywhere more relevant. My fiancée and I are currently on the west coast and looking to move back to the midwest near our families (St. Louis/Southern IL) and are looking to purchase our first home. Both of our jobs are 100% remote so precise location is not necessarily important with the only exception being that we are trying to make sure we are within a couple of hours of both of our parents' places. I mention this because I am having a hell of time scheduling tours and whatnot for the short time we will be back in the area over the holidays (12\18 - 12\30). Now I totally understand that showings may slow during this period but I haven't managed to lock in tours at any of the 8 houses we are looking at (haven't received ANY responses). I am also finding it nigh impossible to find a realtor that services a wider area than a single city (such as Springfield, IL) which is making it tough to find someone who will go to bat for us and get tours scheduled in a way that makes sense. My question - at what point should we have a realtor? Should we pick the area first? That doesn't make sense to me because we are pretty open with a decent budget for the area and so we want the best property for our cash, picking an area first makes this difficult. I've messaged a few realtors now and they seem fairly strict on the markets they service. Should I simply work with the seller's agent? I read elsewhere that that's not always desirable... I know it's a lot but we've been spinning our tires for the last 1-2 months trying to figure out the order of operations and now it's down to the wire (looking to have a place locked in around March) and besides having a shortlist of properties we are interested in we still aren't sure how to actually view them as I do not receive responses from Zillow when I reach out myself. Thank you for any tips you can offer us! [link] [comments] |
| Posted: 13 Dec 2021 07:24 PM PST Or maybe full on panic? Is this normal? FTHB, moved to the area two years ago for a job, figured I'd rent for a year then buy a house. Spent the past year trying to find what I liked or getting outbid on the ones I did. I also now have a baby on the way that's due in March. Wife is anxious to get a house and get out of our apartment. I've always wanted a big kitchen and a garage I can park my vehicles in (Ohio winter suck). Also have motorcycles I work on frequently, so garage space is important to me. Ideally a 3 car garage and room to build a shop. Also have a small toy hauler I want to keep at the house so HOAs are out. Been a really slow couple of weeks then saw a house pop up that seemed to check most of our boxes. House went on the market Thursday afternoon; sellers would review the offers on Saturday at 1pm. Looked at it on Friday afternoon. Everything seemed okay with it. Not really what I wanted as far as layout goes, small kitchen, small two car garage, original builder grade, needs carpet and some updating, but it's mostly move in ready. Nice neighborhood and a 3 min drive from work. On a whim, I called my realtor and told him we would be good with putting an offer on it (one of his other agents was showing it to us). Realtor said the price (320k) was good, maybe slightly underpriced. I said I'd be okay with going 5k over on it. He made some calls, said there were multiple offers on it and suggested offering an additional 5k if they took my offer that night instead of waiting till Sat. Also offered a short close (~3 weeks). No time to research it, so I agree to it. To my surprise, he notifies me later that night that they accepted. Really was not expecting that. I'm cool with it at first, not super excited about since I wasn't in love with the house, but now doubts are really creeping in. Started taking a closer look at comps in the area and other bigger, nicer, houses just sold a month or two earlier for 20-30k less. I would definitely be paying more than any house had sold for in the neighborhood. Bank is saying they do not need to appraise it either, they are comfortable loaning on it with my 20% down. This seems kind of crazy to me? Now I just have this deep sense of dread about the situation... really considering eating the earnest/inspection money and backing out... I figured I would be excited when I finally got a house... Is this something every FTHB goes through? [link] [comments] |
| Posted: 13 Dec 2021 09:06 PM PST Me and my wife we decide to build a house. On Wednesday I have a call-meeting with a realtor but I'm from Europe and I'm not sure what's the role of a realtor and why I need one. What questions can i ask to made my decision if i want to work with him? [link] [comments] |
| How do you let your client know about their bid? Posted: 13 Dec 2021 09:05 PM PST As a buyer's agent, do you call, text, or email the client about their bid? [link] [comments] |
| Is there any way to correct a Walk Score? Posted: 13 Dec 2021 03:38 PM PST House has a bad walk score, but I'm pretty sure that this fails to take into account a dedicated pedestrian path that makes stores, restaurants, etc., way more accessible by foot. Has anyone successfully worked with Walk Score to make corrections? [link] [comments] |
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