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Is it normal to ask a seller to provide an itemized list of renovations?

Hi, all! I am interested a two-family house that has a renovated basement being used (illegally) as a third unit. The basement has undergone extensive renovations, including the addition of a small kitchen and bathroom as well as tiled floors. The two upstairs units have also gotten cosmetic renovations (eg, floors, bathroom, kitchens). Because the basement is not legally “livable space,” it has been excluded from the sq ft calculation, which is 1,672 sq ft. The house sold in 2022 for $277k and is now being listed for $599k. I think that is overpriced given the fact that the legal livable space is 1,672 for a two-family, but the seller seems to be pricing in the basement renovations to the list price. A key detail is that the house was built in 1897 and the only plumbing updates have been for the bathroom renovations in units 1 & 2 & basement. I’m also not sure of the ages of the electrical or heating units. The water heaters will need to be updated soon (one for each unit)...
Recent posts

Replacing cat damaged carpet

My realtor suggested we replace the carpet in our house before listing as it is well loved and quite damaged in some areas from our cats. They ideally want us to recarpet the whole house but said downstairs is the priority as it’s the first impression. Most of the damage is upstairs/on the stairs. I’m hesitant to do this because moving the furniture seems like a huge task that I am frankly not up for AND I’m concerned our cats will just damage the new carpet. I suggested offering a credit for the flooring but they think replacing the carpet would be more appealing than the credit. I’m somewhat open to doing the downstairs but really don’t think I can handle a project like the upstairs as we would have to move everything downstairs and then back up. So it seems silly to replace the downstairs when buyers may want a credit anyway after seeing the damage upstairs. submitted by /u/Wrong-Wall-6732 [link] [comments] source https://www.reddit.com/r/RealEstate/comments/1sropt1/re...

A fair critique!

The Keller Williams model is heavily built on “teams” and internal profit-sharing, which can lead to a culture where agents prioritize internal transactions (keeping the deal “in-house”) over finding the best external fit for a buyer. submitted by /u/peppy-mint [link] [comments] source https://www.reddit.com/r/RealEstate/comments/1srkvup/a_fair_critique/

Need help. Commercial lender refusing to release appraisals to new lender

I have a large deal with appraisals that I paid $2,150 for. The old lender misrepresented closing costs one day before closing, so I told him I’m shopping the loan. Found a new lender immediately who was willing to close using the same appraisals. The old lender is acting like a baby and refusing to release the appraisals that I paid for. I reached out to the appraisal company, and they’re also refusing to release them without the old lender’s permission. What can I do here? submitted by /u/NukeyHov [link] [comments] source https://www.reddit.com/r/RealEstate/comments/1sqsv40/need_help_commercial_lender_refusing_to_release/

Requesting to move in early

I know this probably is looked down upon, but me and my kid have been living in hotel for nearly a month already. I just retired from the military, and they messed up orders causing a 3 week delay. The USAF had stopped retirement orders starting 1 April, I had requested retirement before that but someone couldn't read the orders. I'm trying to find the best way to move in just 2 weeks before the close out date, and not be a risk to the sellers and be fair to both parties. We wouldn't move any furniture except 2 inflatable mattresses for us to sleep on. My daughter needs to get back into school but it requires a residential address to attend, and a hotel won't work. submitted by /u/Caldersson [link] [comments] source https://www.reddit.com/r/RealEstate/comments/1sqsepg/requesting_to_move_in_early/

Writing an offer with about $17k of concession funds

…and I’m quite torn on how to use it. On the one hand, I could dump it all into points and buy down to 5.49%. That lands me right on a comfy payment number. But the break even period is about 5.5 years, and my credit union does dirt cheap ass refinances. If I used it towards closing costs I could finish the new place’s basement sooner. I’m super open to opinions here. submitted by /u/c0LdFir3 [link] [comments] source https://www.reddit.com/r/RealEstate/comments/1spuw8a/writing_an_offer_with_about_17k_of_concession/

Everything is overpriced

Im talking “values“ up 50-100% since Covid in my neighborhood. I’ve toured a few where everything is still original from when the houses were built in 1992 (like original jetted tubs and builder grade bathrooms, 8-10 year old kitchens and roofs). All are asking over $800K when they sold in 2015 for $3-400K. I just sold a house where we had remodeled every major room (kitchen, baths, floors, roof, HVAC) and felt justified in our markup. But it’s crazy now to see sellers asking for that markup for just a few basic maintenance items. Yet most of these sellers are willing to just sit and wait it out until they find a desperate buyer. Several have sat on/off market for close to a year. I’m frustrated (and jealous). I’d like to upgrade my home but I can’t justify these values. submitted by /u/Technical_Quiet_5687 [link] [comments] source https://www.reddit.com/r/RealEstate/comments/1sptgh5/everything_is_overpriced/

My agent didn't put inspection contingency when I asked for it

I'm in CA. First, I made such a stupid mistake. Trust but didn't verified. When putting the offer, I asked via text that don't put "as is". my realtor ignored it and there was no inspection contingency in the contract and now I am in the hook for it, in the seller's disclosure, they disclosed there was a leaked in the last heavy rainfall (2 months ago), and in home inspection, the report indicated the roof need to be fixed (mortars failed, tiles were loose.) I lost legal power to ask seller to fix issues. Luckily I still have loan contingency and appraisal contingency. Appraisal came back above market value which is good. but did not mentioned termite or roof leaks. I am using VA loan so the VA required termite/dry rot treatment, but the roof area is gray. Can I reach out the manage broker of the agent and complain for commission credit? chatgpt gave me a decent ideas for the next steps, which is get roof repair estimated and email the agent's team ...

Has anyone LinkedIn business referral to share?

I'm on job hunt since a year and unable to use additional career premium referral due to ineligibility, I'm looking for LinkedIn business premium referral at no cost to continue my job search and LinkedIn learning, i would highly appreciate. You may please dm. Thank you submitted by /u/M_Arslan9 [link] [comments] source https://www.reddit.com/r/RealEstate/comments/1sp7ymn/has_anyone_linkedin_business_referral_to_share/

House went live last night, got offer for full asking in cash

So I have a contengcy that we find new housing before close. We've been trying to buy since last April, beat out of houses every single time we put an offer in. We decided to get ours listed first, try to sell and buy at the same time. Now, we got 2 showing requests immediately, and an agent calling our realtor asking if we would accept sight unseen full cash price, and RENT our house back from them, until we find a new one..no escalation clause not an on paper offer, just asking if we would consider that. I'm kind of offended, we have the contengcy for a reason, I'm not wanting to do a rent back when my mortgage is only $720 a month, I can't imagine paying more than my mortgage to rent my own home, whole I HOPE to find another one. As I was writing this, a guy actually drove up to my house (I'm sitting on the porch) and asked me questions about buying it, and the neighborhood. So feels like we at least have some interest. What's the benefits of taking cash off...