I'm posting this here because I saw a previous post from a somewhat similar situation in this sub where people actually knew their sh**. Meanwhile in the more relevant groups I just hear "get an attrorney." Not very helpful. So we bought a new house in November. Didn't "move in" until December. We had money set aside to pay the mortgage on the old house as we cleaned it up and sold it. Expected it to be on the market for a few months, but not too long. But we DID take our sweet time in moving and a very large portion of items were still in the old house when... On January 20th, the old house caught fire and burned down. No people were hurt. We were on track to clean up the house and sell it for about $475k. Part of the property covered a portion of the lake out back, so we KNEW it would sell fast, being a waterfront property. Well, insurance (State Farm) found out we had a second house (we didn't say we didn, but we didn't say we didn't, eithe...

We’re looking to buy a house as is. Aside from the home inspection and looking up flood maps and permits, is there anything else you could think of to get checked on the house? Thank you! submitted by /u/Alternative_Party277 [link] [comments] source https://www.reddit.com/r/RealEstate/comments/1toa7tl/buying_as_is/

Not asking what to do. Asking what you did that turned out to be a waste. There's plenty of advice about what to fix before selling but almost nothing about what to skip. We're about six weeks out from listing in a competitive Bay Area suburb and I'm getting pressure from multiple directions to keep spending on prep. At some point it has to stop. submitted by /u/Poke333Z [link] [comments] source https://www.reddit.com/r/RealEstate/comments/1to7qb8/lafayette_ca_sellers_what_did_you_waste_money_on/

My wife and I purchased our first home almost 1 year ago exactly, located in one of the more faster growing towns in Tennessee. House was built in 2014, we purchased from the original owner, and it's listed online that he bought for 275k while we paid 490k for it (still blows my mind). Now, I am seeing all kinds of articles talking about how another 2008 type of market crash is unavoidable at this point, and I should be ready to watch the value of my home plummet through the floor. While I of course don't want to see that happen, people are making it sound like everyone is screwed. As long as I maintain my job/income, we can afford the house no problem. I understand some pieces of the mortgage (i.e. taxes) can go up some, but is there something I am missing that would result in the payment skyrocketing beyond affordability? I guess I am just confused on how the market crashing has a direct impact on people who are not trying to buy or sell a house right now. Sure, there are go...

we are relocating to miami at the end of summer with our family and need to choose between building a new home or buying an existing one. the idea of building appeals because we can include features like impact windows and energy efficient systems right from the start. this could mean lower utility costs over time and better protection against storms common in the area. however buying might allow us to move in faster and settle before the school year begins. we spoke with contractors about building costs and timelines but are seeking input from others who have built in miami. what was the actual timeline and total cost difference compared to buying for those who went the new construction route. any advice on navigating permits or market conditions when deciding between the two options. submitted by /u/Crystallover1991 [link] [comments] source https://www.reddit.com/r/RealEstate/comments/1tnalw1/build_new_home_or_buy_existing_when_moving_to/

We purchased a home in 2020 but only my name is on the deed/title (her lack of credit at the time prevented the loan we were trying to get). We are about to file for divorce & the house will be listed in 2 weeks or so. We are in Washington so there is a 90 day waiting/separation period before we can make the divorce final, if that matters. My question is: will the profits go to me as far as taxes go? We are splitting the profits but I am concerned that if we file for divorce prior to the sale of the home it will all fall under my name. Potentially surprising me with capital gains tax at the end of the year. Is the $250k threshold for long term capital gains exemption strictly for profits on the home, not counting regular income? If so I will be below that. Should we talk to the title company about adding her to the paperwork before we list the home? I’m hoping to get ahead of a major headache. Appreciate any help! submitted by /u/nothingwascool [link] [c...

34, single. about $740k in retirement (401k, mega backdoor roth, backdoor roth, and brokerage). $250k in a money market account (emergency savings + down payment savings). income is $150k-250k, depending on the year. currently renting for $1800/month. considering a condo in downtown nashville. would put $100k-150k down (20% minimum), leaving $3600/month between mortgage/insurance/hoa/taxes. considering the current market, appreciation expectations for a downtown condo, etc... would it be financially smarter to keep renting & investing? i'm out roughly $22k/year in renting costs, but i'm able to invest everything else, making 10% interest. submitted by /u/europeanuppercut [link] [comments] source https://www.reddit.com/r/RealEstate/comments/1tmm38d/stuck_between_buying_a_condo_downtown_nashville/

King, Snohomish, and Pierce counties? Curious on a modest house price history. Like 1800-2200 sqft. What was the price in 2010, 2015, 2020, and today? Are prices softening since broad layoffs? Anyone got an example anecdote? submitted by /u/HarryCrushNuh [link] [comments] source https://www.reddit.com/r/RealEstate/comments/1tmdkke/seattle_market_has_anyone_tracked_house_prices/

We put an offer in for a house asking $525k (nc), we offered $515k and the sellers came back with $520k, we agreed asking for 0 closing costs. Our realtor at the time said this would be best for our offer to be accepted as we have lost out of 4 other homes already. She assured us we could negotiate for this later on. Now we are in the process of negotiating and found there are trusses in the attic that need to be fixed and the ac will need to be replaced. The sellers agreed to take care of the trusses. We are asking for $13k in concessions to cover the cost of the ac and some of the closing costs. The sellers are agreeable to $9600. We really want that much for repairs, + extra for closing costs. Is that reasonable? Our realtor seems to this it isn’t considering the market and the home being in such good shape for a 20 year old home. submitted by /u/JasmineDragon22 [link] [comments] source https://www.reddit.com/r/RealEstate/comments/1tmgrkj/are_we_being_reasona...