I put in an offer on a house earlier this year that I later rescinded, but in my initial offer contract, my real estate agent had me sign an exclusivity contract. It basically states that I have to use him as my agent for the next year. Long story short, I do not want to work with him after this past experience and was wondering if I am bound to him and what I need to do to get out of this exclusivity contract? Since the exclusivity contract was part of my offer, and my offer was rescinded, does that mean the exclusivity contact is void as well? submitted by /u/happilyeveremma [link] [comments] source https://www.reddit.com/r/RealEstate/comments/1sgry09/am_i_legally_bound_to_an_agent/

After a big wildfires last year my house had heavy smoke and water damage. Insurance came back with an offer of $94k and I was pretty much ready to accept it because I didn’t want to fight them. A neighbor told me to call Onsite Public Adjusters. They took over his whole claim and ended up getting me $198k... basically double what the insurance company originally offered to me. Ițm thinking about hiring an adjuster too but I would like to hear more advice. submitted by /u/porchoua [link] [comments] source https://www.reddit.com/r/RealEstate/comments/1sgn8l7/how_much_more_did_your_public_adjuster_get_you_on/

So our mortgage jumped up $250 a few months ago. Nothing changed except our taxes went from 1200-2400. Using a calculator with our interest rate. Insurance ,Property tax and pmi our payment should be 2313 a month but we are getting charged 2,540. They valued our home from 80k to 160k that’s why our taxes doubled to 2,400. Are they charging us as if it will double again this year? Just trying to understand where 250 extra a month is going. Will we get it back if it doesn’t double again ? submitted by /u/MissionHome18 [link] [comments] source https://www.reddit.com/r/RealEstate/comments/1sg5p47/mortgage_is_250_over_what_it_should_be/

Update: consulted a friend that is an experienced agent where we live and they looked over our contract. Based on how the sales contract is written apparently, because we did not provide earnest money within 3 days, the contract is void therefore we’re technically not under contract. Our agent did not know this and said he would need to contact his legal department to see if we could even renegotiate. This is also not a good thing because if we decided to buy in 6 months the seller could’ve raised the price and there’s nothing we could’ve done. 🫠 We are in a peculiar situation. We are in the process of buying a home, however, when we made an offer we are on contingency and the seller didn’t like it and said he’d rather rent it, so we offered to rent until our house sell then buy. We got the inspection done, he fixed stuff, and we moved in. Week 2 we got a huge downpour of rain and saw the home has major drainage issues and the foundation likely has been affected. We had a drainage ...

Just getting started and looking into getting my Real Estate license in TN. Are there any good books I can study in order to learn more about the topic in general? Something like the “for dummies” books that gives a lot of information in one book to get a super broad view of the topic would be great. submitted by /u/Infinite-Librarian20 [link] [comments] source https://www.reddit.com/r/RealEstate/comments/1sfu5vc/best_audiobooks_for_learning_about_real_estate/

submitted by /u/Kicice [link] [comments] source https://www.reddit.com/r/RealEstate/comments/1sfolew/is_selling_after_2_years_of_ownership_to_rent_an/

We have a budget of 1 mill, which we know won't go far in most places. Condo/townhouse works. We have a short list of what would make a place possible. When we look up agencies, it seems every brokerage is on their own. No longer a world where you could speak to a broker who could point you to an area and benefit from referral fee. With so many markets so competitive, and good realtors too busy, how do we figure out how to narrow down possible markets WITH insight of someone in the business? (We have bought and sold a number of homes in a number of markets and always do all our research, but this return has been impossible to wrangle without having the realtor IN the community that we can't yet determine! We know how to search a community for best realtors, but even that is limiting us as everybody says where they are is best.) Are their agencies or services that, for a fee, help with this winnowing down process (like there is on East Coast with Suburban Jungle)? submit...

Location: Pennsylvania Looking for a real estate attorneys opinion, would be happy to DM. submitted by /u/Hopeful-Wishbone-388 [link] [comments] source https://www.reddit.com/r/RealEstate/comments/1sf4fdh/location_pennsylvania_real_estate_attorney/

https://imgur.com/a/Gm64Okq Experienced investors, homeowners: Currently in the due diligence period for an investment property built in the 1970s. First time home buyer. Expensive at $1.5 million but priced pretty fairly for $/sq ft (~4900 ft^2) based on comps. Estimated 11-15% cash on cash return, 50-70k cash flow. Large tax savings. First time buyer. Will enjoy on occasion as a vacation home. What are your thoughts on these findings? Obviously I’m pretty concerned about these and want a property but not at the expense of 50 years of deferred maintenance with landmine expenses. What is a must fix, and what could balloon into big expenses? What would you negotiate? Would you walk on this deal? Already got $25k seller credits and they said they weren’t planning on negotiating much later (eg. After inspection), they’re eager to sell but also are still allowing showings under contract so hedging their bets. I’ll lose about 10K in appraisal, title, searching due diligence fees whic...