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EM clarification pls

Hi đź‘‹ I'm in texas and wanted to ask if I can back out within my option period and get my EM back under B5? Option Period ends 4/4 5pm. I found another home I'm interested in. My real estate agent told me to wait out the option period and back out with the HOA document. I copied both sections below. I feel like its better to back out during the option period because I dont want to drag it out so im not sure why my agent is telling me to wait it out. Is there a chance I wont get my EM back if I back out during the option period? TYIA [NAME OF CONTRACT] PROMULGATED BY THE TEXAS REAL ESTATE COMMISSION (TREC) RESIDENTIAL CONDOMINIUM CONTRACT (RESALE) NOTICE: Not For Use Where Seller Owns Fee Simple Title To Land Beneath Unit [HOA SECTION] (2) Buyer has not received a copy of the Documents. Seller, at Seller's expense, shall deliver the Documents to Buyer within 14 days after the Effective Date of the contract. Buyer may terminate the contract within 7 days after Buyer recei...
Recent posts

Buyer in need of Urgent advice

We are set to close on a house within the next week, and have just received a clear to close from lender. However, my partner, who is the only income on the loan, just lost their job. We have enough savings, as well as my employment, that this is not an issue for us financially. My question is, with their income being the only one on the loan, would this cause the deal to fall through this close to closing? Again, financially we are fine and only need my income plus our savings in the meantime. My main concern is primarily on closing on this house, we are 8 months into our search and 3-5 offers. My living situation relies on this house closing. I spent thousands beteween inspections, appraisal, and earnest. With us already receiving a clear to close, I am wondering if the lender will even verify employment again after this. If you have any thoughts or advice please let me know ASAP submitted by /u/Formal4 [link] [comments] source https://www.reddit.com/r/RealEstate/comme...

Update before selling?

I have a condo in a good part of San Jose CA. The inside is livable but certainly older. It had t been updated in a long time. The prevailing wisdom I got was to sell as it because renovations don’t earn their cost back when selling. I didn’t renovate. Now that I’m listing the place for sale, I’m finding that most interested buyers lose interest once they see the place hasn’t been updated. Do those two perspectives conflict with each other? submitted by /u/Rcrez [link] [comments] source https://www.reddit.com/r/RealEstate/comments/1jqckee/update_before_selling/

Listed for 5 dayswith only 1 showing. Should we drop price by $50,000?

We just listed our house not even a week ago. Our realtor know we want to sell quickly as we stated multiple times bluntly we want to move fast. We have had one showing. We asked our realtor if this normal for our area's current market. They replied yes. Apparently this is to be expected due to what our house is listed at. When houses fall in a price range that is below our listed price, they sell faster. To place our house in that range we would need to drop the price by $50,000. Is dropping the price a good idea right now? submitted by /u/Acceptable-Driver566 [link] [comments] source https://www.reddit.com/r/RealEstate/comments/1jpnk1p/listed_for_5_dayswith_only_1_showing_should_we/

Which country’s real estate is worth investing in now?

With markets changing everywhere, I’m wondering — which country do you think is the best for real estate investment right now? Low risk or high return, long-term or short-term — what’s your take? Looking to hear opinions and maybe some personal experiences too. submitted by /u/bikakujp [link] [comments] source https://www.reddit.com/r/RealEstate/comments/1jpkv1y/which_countrys_real_estate_is_worth_investing_in/

What do you think of rising privacy concerns on Whatsapp usage for business owners

Being a business Owner, There are tons of documents are shared among business stakeholders. Now a days I keep reading in news how govt is able to get whatsapp data to help income tax departments. Even whatsapp itself has put this in their policy about data sharing with govt on certain request. Even if data sharing with govt is not as easy as it seem to be, It has raised concerns among common people who do not understand how & when the data is shared. because it has never been disclosed or made understood. It's not about tax stealing, A business Owners does a lot of things to manage expanses etc.. not everything is done through online payment on the field. I tried using other apps such as Signal but person on the other side isn't using it. I'm here for suggestions. submitted by /u/Major_Law1943 [link] [comments] source https://www.reddit.com/r/RealEstate/comments/1jpkqko/what_do_you_think_of_rising_privacy_concerns_on/

Question about utilities

So I am buying a house for first time and the mortgage will be in my name. My adult son who works full time is going to be living with me and is going to pay the utilities to help me out. We already have closing date set for a few weeks. When they transfer utilities at closing can they transfer them into my son’s name and not mine since he will be the one paying the utilities? Will my lender care? submitted by /u/Neither-Frame-1136 [link] [comments] source https://www.reddit.com/r/RealEstate/comments/1jpiyo9/question_about_utilities/

[MI] I want to purchase .25 acres from farmer to put up polebarn.

I was planning on putting up a pole barn but the ordnance officer says I’m not allowed to unless I own 1 acre. I am surrounded by farm fields and need .25 acres. I showed the farmer where the polebarn going to be (it would be on the property I currently own and not encroach on his field at all) he was fine with selling me it. How do I purchase this from him and add the property to my lot? Also how do I guarantee him he can continue farming on the land for free and for life. Do I just need to contact title company? submitted by /u/Omerite1031 [link] [comments] source https://www.reddit.com/r/RealEstate/comments/1jos8nr/mi_i_want_to_purchase_25_acres_from_farmer_to_put/

How realistically are tax deeds the golden mine of RE investing?

I’m not the one to follow random youtubers and influencers promoting random sruff and selling programs on how to get rich quickly, but for some time I am eyeing one Instagramer who I don’t wanna name. I don’t wanna promote him here, but he seems to have made a killing by buying, repairing and renting out apartments bought off a tax deed. He is not selling snything, so I can’t pinpoint any specific lies on his part. Are tax deeds the ultimate “buy cheap” plan? Anybody has some experience with this? submitted by /u/rybavlimuzine [link] [comments] source https://www.reddit.com/r/RealEstate/comments/1jorear/how_realistically_are_tax_deeds_the_golden_mine/

Questions, preparing to sell

My mom owns my house so she has final say on how we sell it, but I would like to hear your guy's opinions on this or ideas. We bought the house for $15k 10 years ago. It's in worse shape then when we bought it because a lot of long term issues have caught up to the house. At this point, it would need stripped to the studs or demolished. Bathroom alone is $10k in work. My mom has spoken to a realtor off-handly who believes the house is worth 30k. My mom mentioned hoping for 60-70k. 1500 square feet, 0.38 acres, 3 bed, 1 bath, 2 story farm house, rural one light town, bad school district, decently priced taxes. I have a friend who has offered to pay us $2k down, $800 a month with a written contract until an agreed upon amount has been reached. He knows what needs done, is fine with it, and is experienced. My mom has said this would be too much work, and that she rather try to sell the place outright, while I believe his deal sounds rather reasonable but I could just be naive....