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Buying a Home that was a former Grow Operation

Hi all! Looking for any knowledge or opinions here, I’ve been reading former threads about the topic, but posting some different questions: Yesterday my husband relator and I were looking at homes. Not first time home buyers, but still pretty inexperienced. We had a handful to look at then had extra time so we went to a home last minute house. I had seen it on Zillow but from the first few pictures I swiped on thought “this is great, it’ll get bid up and out of our budget.” It was great, exactly what we’re looking for. Very well kept up, very clean, so on. Until the basement - full on 3 room grow op. Note: I’m in a state where it is legal and has been for a few years. Had a bit of a smell when you went to the basement, but we don’t know how long it had been since the owner stopped growing. Everything was gone and very clean. Electrical appears to be upgraded and done by a professional/correct, but would need that thoroughly checked in an inspection. The owner had a drain in every r...
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NorthGroup NC

Anyone familiar with NorthGroup Real Estate out of Charlotte and Raleigh NC? What has your experience been? submitted by /u/Ciao_Be11a [link] [comments] source https://www.reddit.com/r/RealEstate/comments/1jrzr1z/northgroup_nc/
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Question about selling my home

So I'm looking into selling my home in Riverside CA with the zip code being 92506. I currently have a 2 bed 2 bath 1100 sq ft condo and is worth an estimated 305k. Now, is the 305K price, maximum value, means the home is turn key ready which means no improvements need to be made? The condo does need the following: Probably fresh coat of paint New kitchen flooring New kitchen range hood Updated kitchen cabinet doors New bedroom and bathroom doors totalling 4 New faucets Now if I decide NOT to do all this, is the property still worth 305k or how much should I go down to ? Not sure how this thread feels about opendoor but they've offered a median price is 277,000 before fees and taking a closer look at the property. First time trying to sell a home btw submitted by /u/Tonberry38 [link] [comments] source https://www.reddit.com/r/RealEstate/comments/1jrylqz/question_about_selling_my_home/
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Curious about my mortgage

So I’m interested in a house and the realtor showed me what my mortgage would be. I just want to make sure I’m not being ripped off here. It’s a 170,000$ house. We have good credit (in the 700s) and before taxes and insurence, with a conventional loan, it’s going to be 1,400$ a month. Obviously with interest and principal it’s going to be higher than 170,000 / 30 / 12 But to be clear 170,000/30/12 =472 That’s almost 1,000$ a month seemingly just going towards principal and interest. Is this normal? Are we being ripped off? Edit- just to be clear, for a 170,000$ house, after 30 years, we will have payed over 500,000$ if we pay that every month (again not including taxes and insurence) submitted by /u/Synthetex [link] [comments] source https://www.reddit.com/r/RealEstate/comments/1jr8scn/curious_about_my_mortgage/
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Foreclosure offer in this market (US)

Found a foreclosure house that my husband and I really love and it’s in a great neighborhood. It hasn’t had any occupants for 10 years and has been in foreclosure since 2017. It needs a lot of work (probably 100-200k) and I know right now probably isn’t the best time but it just went on the market for 475 (sold in 2001 for 190…) but again a lot of work (giant hole in the ceiling, possible water damage, outdated and that’s just what we can see - bringing a contractor in Saturday). They’re about to open it up to investors but is 400 too low? I know the banks can accept whatever but with what’s going on right now I feel like that’s not a bad offer? I just don’t know with everything going on if banks would expect investors to meet their price or not. submitted by /u/bongo_bumz [link] [comments] source https://www.reddit.com/r/RealEstate/comments/1jr5cqm/foreclosure_offer_in_this_market_us/
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EM clarification pls

Hi 👋 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...
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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...
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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/
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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/
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