Looking to buy a property but agent is advising against it Real Estate |
- Looking to buy a property but agent is advising against it
- Are the huge and fast price increases on homes making anyone else pause?
- New Jersey boom
- Another reason why the neighbor is also part of whether you should or should not buy some property.
- Just list out the cooling markets
- Property Tax Issues on a New Home Purchase
- Weichert Warranty—worth it or scam?
- Sorry if this is a stupid question but do you need to drive a car to be a leasing consultant?
- Seller wants 60 day rent back when I will be giving birth and we will have a newborn
- First time buyer help
- To buy now or still wait
- Was I shoehorned into withdrawal and return of escrow?
- Buying a house from Zillow offer but saw multiple canceled sales
- Filo Mortgage is using the Russian invasion of Ukraine to pimp their mortgage rates
- Possible mortgage assumption?
- New Construction Cost W/Out Upgrades
- Buying and selling in this market. Advice needed.
- Water Pump Room Noise In Condo Building. Who Is Responsible?
- Should I offer to buy half of my childhood home from my brother?
- Tax liens
- Do buyers still ask for credit after inspection?
| Looking to buy a property but agent is advising against it Posted: 24 Feb 2022 04:45 PM PST As the title says, we're looking at purchasing a new home that is currently owned by Zillow. Our agent is strongly advising against it as they say it'll be a headache from hell, but I've been wondering how true that will be on our portion vs theirs, and I'm also wondering if they're just trying to avoid it because it might be extra work for them compared to a traditional agent. Has anyone had experience buying houses that are owned by Zillow? The property has already had a drop in price on it in the last two weeks and it's in an ideal location for us, so it's been very tempting to look into. TLDR: property we're looking at owned by zillow, our agent is advising against working with them, we're wondering why. Edit: Thank you everyone on the comments and the pros/cons that we hadn't thought about before! We have several new talking points to address with our agent from you all and a few new things to keep in mind. We're going to talk more with the agent and we're leaning towards making a bid on the house. I tried responding to everyone, but if I missed you (or if it's after this edit), it wasn't intentional. I'm heading to bed soon, but thank you all again! [link] [comments] |
| Are the huge and fast price increases on homes making anyone else pause? Posted: 25 Feb 2022 05:13 AM PST I'm in the market for a house and every time I look at the price history it makes me pause. For example a house that I'm looking at is currently on the market for 1.2M, it last sold in 2020 for 575K and in 2017 for 425K. How did that happen (yeah I know how it happened but what!?) Another house I looked at that's listed at 979K was sold for 550k in 2020 and for 389K in 2018. Does this make anyone else pause when they look at the market? It just seems like a potential house of cards and people keep putting their homes back on the market quickly to cash out the fast equity. [link] [comments] |
| Posted: 25 Feb 2022 05:47 AM PST I realize the market is skewed toward sellers everywhere, but realistically is it possible to find and close on a home in 3 months in north NJ? We are looking to move no further south than Middlesex County and no further west than Morris County, so made our area range as broad as we could. Our house went under contract in just 2 days with a full cash offer, which is great. However, we have been looking and offering to no avail for the last month. I've even waived appraisal and inspection on some homes with strong and higher than listing offers and we're still getting beaten. I guess I'm wondering if it's worth it to continue? Our home sale is contingent on finding our new home by June 1st. So we necessarily wouldn't lose our home but we lose time and this is extremely emotionally challenging, not to mention there are a lot of people who are working hard and I wouldn't want it to be for nothing. We also have an infant at home and I think that is making me ponder this decision even harder. Our agent did suggest doing a fast close with a lease back option (to free up more cash), but we decided under no circumstances will we sell our home without another, especially with a newborn. Thank you to anyone familiar with Jersey (or this market for the matter). [link] [comments] |
| Another reason why the neighbor is also part of whether you should or should not buy some property. Posted: 24 Feb 2022 12:05 PM PST A few house down the street, a house was recently sold, the next door neighbor is a very old lady live by herself. Her whole house has not been updated since the 80s. That's fine but the problem is that the house is surrounded by termites. No joke, I literately see termite flying in her front yard and backyard and on the ground/wall/poses (she had an estate sale a few months ago so we got to tour the house, And I am sure they are wood eating termites) I will be surprised if the house doesn't collapse in 5 years if she keeps ignoring the termites. It also explains why I saw at least 10 tents in the surrounding area in the last 2 years. Now the problem comes to the house that just sold. Not surprising that the very next month the house is sold, it is tented. But it won't take long before the termite find their way again to this house that is only 15 feet away from their nest. It's much worse than a noisy neighbor, and the worst part is that there is no way you can find out unless you move in. Btw, value of the houses in this neighborhood is around 1million to 1.2million, average in the region. So it's not a rundown place fully of broke people. Anyway, it's never hurt to knock on the neighbor's door before making an offer. It probably won't change most people's mind, but can help for people debating. [link] [comments] |
| Just list out the cooling markets Posted: 24 Feb 2022 12:20 PM PST I feel like not all areas are created equal. Can we call out cooling markets? Ie: west suburbs of Chicago all list high but are selling below ask. Definitely colder than other areas like Seattle Denver, etc. Any others worth calling out? [link] [comments] |
| Property Tax Issues on a New Home Purchase Posted: 25 Feb 2022 06:36 AM PST Hello all, hoping I can get some guidance here on this situation I find my wife and I in. We are currently in contract for a home in NY where we were told by the seller's agent at the time of viewing (he himself had stated he verified the taxes were correct on the listing) and through MLS that the taxes would be under $8,000 without any sort of exemption. The title search just came back which found the taxes are actually higher than what we were initially told (around $1200). We believe this is a misrepresentation of the taxes because we checked public records for the home and found the 2022 taxes had updated prior to the house going up for sale. When we tried to bring this up to our attorney to try to get the purchase price lowered, their response was that the Seller's attorney will probably argue that we, the buyers have a responsibility to do our due diligence and look into the taxes ourselves since it's public information. I believe that we, the buyers expected to be given accurate information when we made the offer on the house and that this is on the seller's agent. Any help would certainly be appreciated! [link] [comments] |
| Weichert Warranty—worth it or scam? Posted: 25 Feb 2022 05:29 AM PST Basically in the title. We are buying a home and seller is offering a warranty. I believe it is for a year and covers (or partially covers) repairs or replacements for appliances sold with the home amongst other things. Is this something anyone has benefited from? [link] [comments] |
| Sorry if this is a stupid question but do you need to drive a car to be a leasing consultant? Posted: 25 Feb 2022 07:05 AM PST My city has good public transportation, and I can always take a Lyft if needed. [link] [comments] |
| Seller wants 60 day rent back when I will be giving birth and we will have a newborn Posted: 25 Feb 2022 07:04 AM PST Just wanted to get some input on what others would do in my circumstance. Found the closest thing to a dream house. However, seller wants to keep their kids in the same school for 60 days after closing before they move states into their new house. We are considering allowing a rent back, however I will be massively inconveniencing myself. I will be giving birth during that time, and likely will have to move with several dogs and a baby less that'll be than a month year old. Was hoping to be moved in to a new house by end of April so we can have everything set up before baby comes... but if we do this rent back agreement to let them stay to make it easier on THEIR kids, then I will have to spend my first few weeks back from the hospital with a newborn having painters come in, moving and unpacking boxes, etc. Is this worth it, do you think? [link] [comments] |
| Posted: 24 Feb 2022 11:14 PM PST Hello Everyone, I'm looking to purchase my first home, I've been to the bank and I'm approved and have a nice deposit, I'm viewing a property tommorow that I'm quite interested in but the agent wants the property to go to auction, should I make a pre auction bid or ??? Any help would be much appreciated Thanks [link] [comments] |
| Posted: 24 Feb 2022 12:43 PM PST First home buyers living In St Louis MO I'm a 28F living with my 28M bf in an apartment that we've been renting for 2 years now for $700. I'm making $120 ($5k taxes out) until July OR if my contract keeps extending me (1 year and 2 months) of saving $20k while I only have 2300 in student loans debt and a high credit score. (Thanks mom n dad) My boyfriend starts his full time benefits job next month and will be making $40k. Paying off his debt of 12k easily. Looking at a house around $249k and want to put in a bid this weekend with knowing it may have $2-3k possible property taxes. We will put in a conventional loan and inspect the house. His mom may help out the down payment but unsure yet. Is this a smart move? Knowing I most likely will get extended but if I don't, I work for tech so I know I can get a job that will pay me well and knowing my bf wants to stay at this job and save. [link] [comments] |
| Was I shoehorned into withdrawal and return of escrow? Posted: 24 Feb 2022 08:23 PM PST I went under contract for a log home with an inspection contingency. We completed inspection on 7th out of 10 days. Inspector commented that logs may be painted or stained...that's it. Verbally he told me about 20k to redo the finish in a few years. The coating is so thick that the grain of the logs cannot be seen or inspected. I did research on my own. (Edit: I find out that) its common knowledge that paint is the worst thing you can apply to logs. It locks in moisture which creates rot. It is a deficiency that leads to major damage. So I want to mitigate any financial risk and ask my agent. "Can we get a restoration out there to assess the coating?" Agent-"No. Only a licensed inspector can be on property." Couldn't my agent have asked sellers agent for permission? I then continue my emails with the restoration expert and given the floorplan and face measurements he estimates 40K to put a suitable coating on. I tell my agent if we can relay this information to seller as a concern. Agent- "no we cant use it. Its not from an inspector" So I ask him to ask the seller to document the coating. They come back with photos of products that were found in the basement and where they were used, but its all for the inside work-not the exterior. The photos come on the last day of the inspection contingency. At no point did I instruct my agent to make adjust the offer to what I thought would be a just price. Instead I sign the withdrawal form. My bad, but I felt that this instruction could not be executed based on my agent's answers above. [link] [comments] |
| Buying a house from Zillow offer but saw multiple canceled sales Posted: 24 Feb 2022 09:15 PM PST We are looking at a property that was listed in December and was first pending in January 2nd. It was back on market on January 4th and sold again on January 20th. It got back on market again just two days ago and we are looking at sending in an offer. For those of you that might had experience or heard of buying from Zillow. Is there potential issues with the house hence multiple offer backing out? Our agent will check the house out but won't know for sure till inspection. Also, what is the strategy for sending offers for Zillow owned? The house we are looking at is in a very hot neighborhood with bidding wars on almost all deals we have looked at. [link] [comments] |
| Filo Mortgage is using the Russian invasion of Ukraine to pimp their mortgage rates Posted: 24 Feb 2022 02:53 PM PST https://i.imgur.com/qMJu6vE.png
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| Posted: 24 Feb 2022 10:05 PM PST Hello everyone, I have a few questions if anyone would be so kind to help me out here? I do not know how unique my situation is but any advice is greatly appreciated. So the owner of the house I am renting has passed away a few years ago and the sun has taken over but was just collecting rent and not paying mortgage. Found out that the house is $30,000 behind on The mortgage in the house is very close to foreclosure. I learned about a thing called a mortgage assumption call the bank and ask them if it was possible for me to pay the 30 grand I continue with the payments till the house is paid off. She said yes but I would have to get contact with the sun. Is this a good idea? How would I get this started I do not want to contact the sun with the little information I have. Once I get a full grasp on the situation and What the options are. How can I pull this off? Thank you for your time and input! Lancaster California. [link] [comments] |
| New Construction Cost W/Out Upgrades Posted: 24 Feb 2022 08:49 PM PST First time posting in this group! We have been looking off and on since the start of the pandemic. We have had no luck winning any bids, even after going way over asking and doing what everyone else has done. We've decided we want to venture into new construction as an option. We want to buy the basic floorplan without adding any upgrades. (We do not like the idea of financing upgrades into the loan). Can anyone give us an idea as to how much more from the starting price should we expect the final price to be? [link] [comments] |
| Buying and selling in this market. Advice needed. Posted: 24 Feb 2022 10:45 AM PST Here is my situation. Been living in a condo in Maryland (U.S.) the past 11 years. Value has gone up a bit as have everything else. We are actively searching (have an agent) for a single-family house the but the market is so crazy as you know. Want to sell current condo asap as I am scared to wait a while in case this great selling opportunity passes us over. Condos seems to be the first to drop when the market cools or drops. I am able to financially buy first and then sell (within a certain price range) but the problem is so far finding anything I want at my price range, and when I do, there are several better offers with waived home inspections, etc. Craziness abounds. What would be the best option in order to possibly sell now and use some or all of those proceeds to be able to get a bigger down-payment and thus a better house? Or is this even advisable? Have also floated the idea to sell and then rent in order to "sell high" and then try to buy when hopefully the market cools down, but being that I have never rented before, don't you have to wait your lease out (usually 12 months) or risk getting sued / paying huge fees? I guess what I am asking is what would you do in my situation. [link] [comments] |
| Water Pump Room Noise In Condo Building. Who Is Responsible? Posted: 24 Feb 2022 08:09 PM PST I live in an old condo building. Recently the water pump has gotten noisier and the noise is engulfing my unit. It's seemingly coming through most walls and the floor. The HOA board doesn't want to replace the pumps since they still work. They also don't want to soundproof the pump room as it's expensive and they don't know if it will fix my problem. Though I think soundproofing would. Soundproofing my unit isn't feasible since as I said the noise is coming from seemingly everywhere. Since the building is old it appears the noise is able to easily transfer through walls. I don't think the noise is related to vibration / pipes. Is this the boards responsibility to fix? They are giving me a hard time since this isn't effecting many units, they aren't sure how to fix, and soundproofing is expensive. But the sound pollution is terrible and this doesn't seem like something I can / should fix on my own dollar. If they choose to not do anything I wonder if I would need to hire an attorney to have them fix this problem. [link] [comments] |
| Should I offer to buy half of my childhood home from my brother? Posted: 24 Feb 2022 11:00 AM PST My stepfather recently passed away & left our childhood home to my brother who is only 25 & away at college. He wants to keep the house but he cannot afford all of the maintenance it needs. My mom is currently living in it & barely has enough money to pay the bills. I am currently saving for a house with my fiancé & have been thinking about offering to buy half (?) of the house from my brother & fix it up. I am a nurse & have no clue how real estate or business works. I don't know if this is a good idea. I also would like to eventually sell it & move again in the future (probably sell to my brother). However, I want to make sure I get my money back that I put into the house. I haven't mentioned this to him just yet because I need to understand how it works first. Any advice or ideas as to how this may work? Some info about the house: Located in CA Year Built 1959 8,250 Sq. Ft. Lot Redfin Estimate: $1,213,094 A Similar home 2 doors down (same builder) was recently sold ' flipped. Built 1959 4 bed 3 bath 8,470 Sq. Ft. Lot Sold for $790,000 December 2020 ~Flipped~ Sold for $1,360,000 January 2022 [link] [comments] |
| Posted: 24 Feb 2022 07:04 PM PST There was a house sold for $3,734 and then resold recently for $199,000. Do you think that is a tax lien and then the person that had the tax lien got to kick the homeowners out because they didn't pay and have rights to the property to resell it? That's how tax liens look like and work. [link] [comments] |
| Do buyers still ask for credit after inspection? Posted: 24 Feb 2022 06:56 PM PST Hi, When a buyer removes inspection contingency, can a buyer still ask for a credit after the inspection? Is this common? Or do sellers ignore this in this crazy market? Thx [link] [comments] |
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