FTHB here. We are interested in purchasing a house, currently listed at $490k (originally $520k). House is a new build, sitting on the market for over 130 days. After seeing it with our realtor, we loved the house, but could also see why it was sitting for so long (steep hills make 2/3 of property unusable, road noise, far from the city, actual house size). Our realtor advised that the builder would probably take $475k, but we are having a difficult time seeing that price in this home (the fact that it has been on the market for this long shows others would agree). We are considering offering $440k. Whether how that is structured is up for negotiation ($460k + $20k concession, $450k + $10k concessions, etc.). Where I’m conflicted is this… if it was simply me and the builder negotiating, I would have no problem asking this price. But after asking the realtor’s opinion, and considering that she is the one that has to stick her neck out there for us, I am having a moral dilemma asking thi...

submitted by /u/jkrm1920 [link] [comments] source https://www.reddit.com/r/RealEstate/comments/1tyqgpy/is_it_a_good_time_to_consider_purchasing_house_in/

How to buy a Real Estate at Auction..? this is not an advertisement. It is just a conversation on how you may buy a home or piece of land if you see the property advertised that option. Maybe I can help you out with some insight. I’ve been seeing a massive surge of the buyers interest in real estate auctions lately (especially with people trying to find deals in this market). But there is a terrifying blind spot happening right now: Many traditional real estate agents have absolutely no idea how auctions legally work. I can help clarify… you do not have to fire your Real estate Agent, just ask them to get informed… If you are looking to buy a property at auction, even though I can’t give you legal advice maybe I can give you some guidance…? Anyone , butler..? submitted by /u/AmericasAuctioneer [link] [comments] source https://www.reddit.com/r/RealEstate/comments/1tyjews/questions_about_real_estate_auctions_unconfused/

First-time home buyer here having signed a contract on a property for $188K in WA with a pass/fail inspection (period runs through Monday). Inspection this week uncovered that the hot water heater broke and the space it's in and the subfloor are damaged with some mold. A quote to repair the space + install new hot water heater is ~$3K. My agent first suggested the seller would cover 1K, and I would cover 2K. Now she's suggesting an even split, and the selling price increases to $189,500. It seems like she's really not acting in my best financial interest. For one, she is the listing agent's mother. Furthermore, at the mention that I was thinking about getting an inspector outside her recommendation, she asked if she had offended me, and then claimed in a raised tone that "I am very ethical", which was pretty embarrassing, extremely unprofessional, and a manipulative pressure tactic even at its most generous. I did end up going with her inspector because h...

I bought my house in 2015 for $126k with an FHA loan. It’s now estimated around $213k, and I owe about $96k. I’m considering selling next year and renting for a while. I know rent may cost more than my monthly mortgage, but that’s not really the issue. I’m house-poor, carrying too much debt, and my margins are too tight. I’m 40 and down to less than $100 in my bank account after an emergency vet visit last night. My mother keeps telling me that if I sell, I’ll never own another home, and that renting will be a disaster because I’ll be at the mercy of a landlord. Why do people keep telling me this would be a huge mistake if the goal is to get out of debt and reset financially? submitted by /u/Agitated_Pudding7259 [link] [comments] source https://www.reddit.com/r/RealEstate/comments/1ty231v/broke_and_thinking_about_selling/

Seller bought the house 10 years ago. they claimed no asbestos. seller strategically placed items all over the house to cover up holes and weird things including a heavy as fuck armoire blocking the attic access. once in the attic it was half done with new insulation and half filled with the original vermiculite. im confident that they very much knew about the vermiculite either when they got their inspection done or when the insullation guy dipped oit halfway through the project. this is Illinois so the inspectors are all licensed so their guy would have known. anyone ever deal with this? sorry for no caps, iPhone keeps turning it off… submitted by /u/Mobely [link] [comments] source https://www.reddit.com/r/RealEstate/comments/1txzc8o/can_i_sue_seller_to_get_inspection_fee/

The text highlights a massive blind spot in the real estate industry: **many traditional real estate agents and brokers simply do not understand how real estate auctions work**, even though they are legally obligated to have "subject matter expertise" for the services they provide. According to Myers Jackson a “Real Property Auctioneer” says that The core can be broken down into a much clearer, actionable explanation of how real estate auctions operate and why the standard real estate rules don't apply. ### The Golden Rule: "The Fall of the Hammer" In a traditional home sale, you submit an offer, negotiate back and forth, sign a contract, and then use a contingency period (usually 30 to 45 days) to do home inspections or secure a mortgage. If you find a problem, you can re-negotiate the price or walk away. **Auctions completely reverse this timeline.** * **Before the Auction:** This is when *all* your homework happens. You must view the property, read the ...

We're looking at a nice newer construction home, it's perfect for our needs but I'm a little worried about resale with the bathrooms. The main bedroom on the main level has an ensuite bathroom, and the three bedrooms upstairs only have one shared bathroom. It's pretty big, double vanities, water closet, but still just one. I think that's fine for our small family but this house isn't cheap and I'm worried it'll be a problem when we go to sell it in the future? The house is 3,100 sqft 4/2.5, there's a half bath on the main floor. There's also an unfinished basement that's plumbed for an additional bathroom, but there's no fixtures or anything. submitted by /u/dessertgrinch [link] [comments] source https://www.reddit.com/r/RealEstate/comments/1twqlih/buying_a_house_with_2_bathrooms_for_4_bedrooms/

I'm in Virginia. After my inspection, I asked to have money taken off the price due to the number of problems in the house. Their reply was that the price was already low because they knew that from the start. They agreed to take only $2000 off the price. This $2000 price reduction happened at closing. Now, when I look at realtor.com, it says the house sold for the price before the $2000 reduction. Why is that? submitted by /u/mlmiller1 [link] [comments] source https://www.reddit.com/r/RealEstate/comments/1twn6jo/question_about_money_off_price_at_closing/