We have an offer to sell our duplex in NH, but the buyer has a contingency to close on their property before the sale of our property completes. The real kicker here is that the buyers property is a commercial property that has been under escrow for several years as part of a large project by the state. The closing on the sellers property is supposed to close next week. So it seems very close. The evidence they gave for funds was the P&S of their commercial property plus an e-mail from the attorney about their close date. The offer is fora little over asking with an inspection/pest inspection contingency. We are a little antsy because we already had another offer fall through over financing. What else should we look for/ask for before we sign? submitted by /u/jascentros [link] [comments] source https://www.reddit.com/r/RealEstate/comments/1t69clx/nh_selling_duplex_in_ma_with_buyer_contingency/

I have an accepted offer on house being sold by an estate “as is”. I added an inspection contingency in my offer. The seller’s attorney and agent tried to talk me out of an inspection, which I found suspicious. The inspection was a disaster with several major issues and dozens of minor. I am fine with the minor issues but the major foundation and structural issues are $25-$30k minimum to repair. I requested a credit at closing for half the repair costs which I feel is reasonable. They refuse stating they have a backup cash/no inspection offer. Here is my question: Once the written inspection is provided to the attorney, agent and sellers, aren’t they now legally obliged to provide that to any interested buyer? An estate doesn’t have to provide a condition disclosure because they simply can plead ignorance but the inspection notifies them. I must mention that the selling price is right around current market value so adding $30,000 in repairs would not be a bargain. submitted b...

Hello, r/RealEstate I need some advice. I recently accepted a job in another city. My family and I will need to move about six hours away from where we currently live. We're currently in a suburb of St. Louis. Basically, we do not have the time or money to put much into our house to get it ready to sell. As far as we are aware, there isn't anything major wrong with the house. The roof is about seven years old and we've had no issues with leaking. The HVAC works perfectly fine. There are some hairline cracks in the basement wall, but none of them are deeply concerning as far as I am aware. There are a bunch of medium and small repairs and renovations that we'd love to do if we had more time and more money to work with. I consider medium repairs to be anything between around $500 to around $5,000. And small repairs are anything under $500. These are just my rough categories. Medium repairs/renovations: replace awful concrete counters and sink in kitchen landscapi...

Genuine question here, not just trying to bash anyone. I don't understand the value that they add. Situation 1: I want a small piece of raw land for sale. It would be an all cash transaction. I don't need inspections or zoning approval or anything of the sort. Just heres money, give me land. I email the realtor, no response. I wait a week, then email again. No response. I call during business hours, no answer. I leave a voicemail. I wait about a week then find the owner/seller on Facebook and message them about it. It's been on the market over a year, but apparently they have had "zero interested buyers." I tell them that I want it, I'm happy with the asking price, but can't get in touch with the realtor despite calls and emails. I give the seller my info and ask her to pass it on to the realtor to contact me. She says that she did, but I never hear from the realtor. I call and email the realtor again. No response. I posted about this frustrating e...

My husband doesn’t have the best credit history, and I’m a SAHM, but his income is good. With a no down payment program we qualified for $200k. And there’s just…nothing in our area for that price. I knew the market had gotten bad but this really gave me a reality check. In 2021 I was approved for $125k. And I had options with that. Ended up with a decent house that didn’t need any work. Now 5 years later $200k and there is nothing but trailers on land? We are in small town Indiana. Not the city or anything like that. We are discussing buying one of these crappy $200k homes and trying to fix it. I am concerned about actually being able to afford repairs. Everyone keeps saying the market is going to come down, it’s going to have to crash, etc. but I’ve been hearing this for years. Is it actually going to happen? Edit bc I’ve been asked the same thing a few times: The house I bought in 2021 was sold in 2022. There were extenuating circumstances and it was the best case scenario. No it ...

I was curious what the rising costs of renting versus owning were. Talking to home owners who says their monthly rates don't go up but renting does. This doesn't take into account rising taxes, maintenance and insurance costs. I compared 3 markets (florida, ohio, california) and this is the quick recap (time frame: 2020 - 2025): Of course, each market are quite different. Cost increases were higher for home owners in florida, slightly higher for renters in ohio, and lower for rent controlled renters in california (about the same for non rent controlled) This was eye opening for my friends because it dispells the myth that once you buy a house, your ownership costs do not increase. Side-by-side comparison Market Rent Increase (Typical Annual) Homeowner Cost Increase (All-in) Who gets hit harder? Fort Lauderdale 5–9% (volatile spikes) 6–10%+ (insurance-driven) Homeowners (long-term) Columbus 4–6% (steady) 3–5% (stable) Renters slightly Los Angeles 1–4% ...

Hey everyone I have a pretty important question to ask regarding finances. Situation is: *I have two 15 year old kids going to college in two years…one most likely on academic/athletic scholarship and one using reciprocity perk from work. *current home is worth about a million bucks, but I have projected repairs of nearly $100k over the next 5-6 years (roof, driveway, windows, etc.). Most likely will sell for about $950k. *Idea is to sell now and downsize to newer construction. Not as nice of a neighborhood, but still amazing. Not worried about resale value due to the crazy market we have in our area. Plan to be here another 10-20 years. New house is about $600k. *Will pocket and utilize small loan to have about $250k in liquid assets. Idea is to invest this now. I am in Oregon, married, and 44…. It sure how much I am going to get hit with capital gains. Also closing costs, etc. *Even with loan, my wife and I will be bringing home an additional $2500k a month after all bills and r...

One thing I feel like does not get discussed enough in real estate conversations is how much insurance, taxes, and HOA fees can completely change the real monthly cost of a house. A listing can look affordable on paper, but once you add in property taxes, insurance premiums, and sometimes HOA dues, the payment jumps way beyond what most buyers are actually comfortable with. In some cases, the house itself is not even the biggest problem anymore. The carrying costs are. What makes it frustrating is that sellers and agents often focus on the sticker price, while buyers are looking at the full picture. A home that seems borderline at list price can become a hard no once the real monthly number comes into view. I feel like this is one reason so many deals are getting stuck right now. Buyers are more cautious, and they are not just looking at what they can qualify for, but what they can actually live with every month. Anyone else seeing this become a bigger issue lately? submitte...

Hi, if I were to convert a current owner occupied single family into a 2 unit rental (both sides rented), would I need to notify the homeowners insurance company and mortgage company? Would I need to change the insurance policy from the single family to a 2 unit, and would they notify the mortgage company and would the mortgage company need to refinance me? Or would I just need to notify the insurance company that I'm renting it out 100%? submitted by /u/DanGleebitz [link] [comments] source https://www.reddit.com/r/RealEstate/comments/1t47kry/converting_single_family_into_2_unit/