Between the bank rates and everything else it just seems like buyers and sellers would both profit so much more If they just cut the bank out of it completely or only ask for a supplemental loan to carry what’s needed. There are lawyers and CPAs and real estate agents who are savvy enough to accomplish all this without a bank and protect interests of all involved, right? Why is there not a huge upswing in this, especially for those downsizing? submitted by /u/Rrenphoenixx [link] [comments] source https://www.reddit.com/r/RealEstate/comments/1uoqgwi/does_anyone_do_contact_for_deed_anymore/

submitted by /u/limponion36 [link] [comments] source https://www.reddit.com/r/RealEstate/comments/1uojdeg/septic_tank_is_on_plot_next_door_does_the_owner/

Every single day I see posts here about house not selling, multiple price reductions and no buyers are interested. This is my response to that, as a seller who can't afford to take the 10% equity loss when we're moving internationally to an even hotter market than here. I live in a VHCOL area 8 miles from the beach in SoCal. We put our house on the market in October last year, and our agent let us know by the time we were ready to list, that the market had fallen off a cliff in just 6 weeks. We got 2 offers, both 10% lower than comps and our unit had major upgrades compared to recently sold units. So we pulled it and decided to do a total facelift before re-listing. But, the market has fallen even more. We're out $20k in renovations and 6 months of my labor making the place turn key ready. There's been no rebound. So, I'm just waiting it out while doing renovations and refinishing. My mortgage is $1900 and my interest rate is 2.7% so why would I sell in such an a...

Closing on a house in just over a week, and found out yesterday through applying for home owners insurance that the sellers did not disclose a claim for $100k (buying house for $940k) for water damage from a "leak" in the kitchen. It seems like they purposely did not disclose this because they did disclose a claim for the roof 10 years ago, but nothing about the water damage. Everything I am seeing says sale/resale value goes down when there is water damage, but there was no discount on sales price. My insurance is also going to be $1,300 more per year due to this. I am in love with this home. It is in the perfect area for me. The sellers have offered to pay for a mold inspection, but I feel like I am still going to be getting screwed by paying full price even if there is no mold. Should I cut my losses? Ask to reduce the price? Please give me all of your advice and opinions. submitted by /u/doge_ucf [link] [comments] source https://www.reddit.com/r...

Mom and dad have passed on and we are in the process of clearing the estate. Without getting into specifics I'm super sad about having to sell the house but it's what needs done. I'm not gonna live there and renting isn't something I even remotely want to entertain. The home is a rural house in NW PA. While not on a back road it's definitely in the middle of Amish country. I was considering leaving a note for 2x purposes. One, to wish them the best of luck in the future and that I would think mom and dad would be happy. Mom and Dad loved having kids around the place, and the young couple buying the home have 3x young kids. Also I want to detail specifics on how "I think" things are setup as far as the heating works for the house (house has an outside wood boiler and a propane furnace). Additionally wanted to mention things about the neighbors (good stuff) and also some close family friends that are Amish that might be able to render construction services...

I've seen tons of D.R. Horton, Lennar, or other mass home builder-related posts on here that seem to just say "DR Horton bad" without addressing the actual root of the problem. Having worked in the heavily regulated pharmaceutical industry / GMP manufacturing, It's clear to me that there needs to be some systemic change that incentivizes quality while maintaining quantity. The main argument against this is that increased costs will be transferred to the buyers when they're looking for affordable housing, and that increased regulations will hurt buyers. I think this is wrong, buyers are already being hurt by the quality issues seen with mass home builders' products. D.R. Horton homes are cheaper than the broader market, however insurers are insuring them as if they will last 30 years. Buyers may end up spending much more on repairs to the crappy homes, and possibly litigation, over the first 5 years of buying a home which they didn't anticipate. With impro...

It’s a designated monument and a contributor to a historic district with a very stringent design review board. Every repair would have to be approved by the city and the district board. Adu law is strong in my state, but the board can make me build in historical style, not visible from the street, and 750 square feet max. It’s also in a hillside zone, which triggers really expensive foundations compared to flat land. It is filled in to look flat though, and has been that way for a century. There’s small 1910 barn that has a permit on file, but the house itself is too old to have an original permit on file. It needs: 750k in “conforming” work done to it in order to max out its value at 900k. Even getting it habitable would be a tall order. It has a 6 foot tall brick foundation with almost no mortar left in the joints. One of the corbeled chimney tops is about to roll off the tall and very steep roof. A specialized historic mason will have to do all of that. Much of the 30 windows and...

I finally got my house under contract after 9 grueling months due to my agent overpricing it, being on a busy road, and having a narrow driveway that backs into traffic. I was so excited, even though it seemed I might have to move into a short term rental since, as luck would have it, nothing was available that I wanted. Every house I hoped for went under contract while my house was on the market. Oh well, at least I was finally selling mine. Then, I found out on inspection that I had 26K worth of foundation work + 8400 in other items, totaling about 35K in repairs to my house. It has to be done, sucks big time,but I accepted it. I found a great house at the final hour, and got it under contract, contingent on the sale of my home. All was moving forward, till I found out that the foundation contractor, doing work on my house, had a set back and wouldn’t be finished with necessary work for two weeks after my closing date. My agent seemed upset, and indicated this put me in a position...

My parents want to sell me and my husband my childhood home. We would move to MI from Denver. They are wanting to gift us equity as much as a 20% down payment so that we wouldn’t deal with PMI. The only problem is our current lease in Denver is not up until end of March and my parents new place is ready by end of Sept so they want us to purchase in October, as they basically want the sell of their old house to go towards the new house. I know I need to ask our landlord about options of breaking our lease early but I’m worried we will be told we cannot break the lease and will be essentially paying for two places for 5 months. I know my parents are doing a solid by doing this sell so that we are not using any realtors and gifting a down payment/equity but I feel like my husband and I are potentially going to be broke for a year if this is all how it works out. I need to breach closing costs, doing inspections of the house, but really want to avoid double rent and I don’t know how we ...