Does a cash buyer have closing cost fees and bank fees? Do they need a realtor to work with yes? Real Estate |
- Does a cash buyer have closing cost fees and bank fees? Do they need a realtor to work with yes?
- Buying home with unpermitted finished basement
- Best way to offer on a house with an older roof
- How do I find foreclosures?
- I’m new to real estate and wanna learn it more . Should I get a mentor first or fake real estate courses first. What would you guys recommend me to take the next step of real estate learning ?
| Does a cash buyer have closing cost fees and bank fees? Do they need a realtor to work with yes? Posted: 26 Feb 2022 01:34 PM PST Looking at doing a cash offer instead of a mortgage loan. To save interest and fees. Do you have closing cost fees and bank fees with a cash offer. I know you don't have mortgage lender fee. You also need to work with a realtor on a cash offer correct? [link] [comments] |
| Buying home with unpermitted finished basement Posted: 26 Feb 2022 01:27 PM PST We recently had an offer accepted on a home, going 10% over asking price. We found out during the closing process that the basement was unpermitted but done by professionals - didn't think much of it, just knew we'd need the permits down the road if we tried to sell in a colder market. Come to find out, the appraiser won't count the finished basement square footage or bathroom since they're unpermitted. Because of this, it appraised at asking price, rather than ~5-10% higher as expected. Our realtor has noted we're not out of luck, since the house no longer matches the description listed - putting the seller in breach of contract. We still want this house, but are trying to be smart about our next move to get something back without walking away. We've thought about presenting the sellers with 2 options: 1) Get the permits for the basement ahead of closing. 2) Reduce price to match "true" condition of home - thinking about meeting in middle between asking and our original offer (~$20k discount) The house didn't go to open house and received 3 offers in the first day on the market. However, sellers have a home-sale contingency on their next house, so are eager to close. We're renters, so not in a rush. What do you all think about this situation? Is it fair to present those choices? Thanks. [link] [comments] |
| Best way to offer on a house with an older roof Posted: 26 Feb 2022 01:16 PM PST Putting an offer on a house with an older roof. The seller told us that they had an inspection done and the roof is still in good shape. It could pass the 4-point and insurance would sign off. If that's the case, we can just replace the roof when it makes sense. If the roof does not pass the 4-point or insurance says that it doesn't have enough life left, we're in a pickle. The sellers said they won't pay for a new roof. Is there a way to write our offer so that we can agree to pay for the roof, but not just agree to give them a new roof? They got a quote (16k) to have it replaced (although it would make sense to get other estimates, I imagine). For example, what if we agreed to put $16k into escrow to be paid out to the roofing company at close? That money would go into escrow a couple of days after the inspection period (if the roof looks good then we don't need to put that money in. If it's iffy, then the money goes in and repairs can start). My only concern is if the appraisal comes in too far under whatever gap we provide. If we can't come to an agreement and we walk away...we would lose that roof money (especially if the repairs already started/were completed). The sellers don't want to raise the price to cover the cost of the roof. Are there other options we should consider? If we can get the contract for the amount we'll offer, we don't mind repairing the roof...but don't know how to safely put the money upfront so that we don't lose it if the inspection or appraisal comes back really badly. Thanks! [link] [comments] |
| Posted: 26 Feb 2022 12:29 PM PST Good afternoon! Apologies if this is naive, but how do I find foreclosure listings? There's barely anything on popular sites like Zillow and Redfin. Googling "foreclosure listings" isn't super fruitful either Location is Chicago, if that matters Thank you! [link] [comments] |
| Posted: 26 Feb 2022 12:11 PM PST |
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