The offer is contingent on loan approval, home inspection, and cancellation of the open houses scheduled for this weekend. They want an answer by end of today or they are withdrawing the offer. We are worried we may have underpriced the home a bit and would lose out on potentially higher offers by accepting instead of waiting until after the open houses at least. On the other hand, the house does need some work (which is described in the disclosures) and there’s a chance that the potential buyer seeing the home and the work needed in-person could change their mind about the offer they submitted. Our agent laid out the pros and cons of both options, but I’m wondering what you would do in this situation? The home is near Raleigh, North Carolina btw (if that makes any difference) submitted by /u/ixvst01 [link] [comments] source https://www.reddit.com/r/RealEstate/comments/1shohpd/first_time_seller_received_site_unseen_full_price/

A month ago the sale of my house busted due to buyer unable to secure his loan. House was appraised at asking price - 250k. Got in contract with a second buyer and the 2nd FHA appraisal was 9k less than the first one. Based on my research and what my realtor says is that the new lender will have to go with the first appraisal? Is that correct? We are reaching out to the first lender to obtain the FHA case number and provide it to the new lender. submitted by /u/UFOsss01 [link] [comments] source https://www.reddit.com/r/RealEstate/comments/1shmyb3/fha_2nd_appraisal_came_lower_than_1st_one/

I live in a 2 family house that is separated into 2 condos. I own the top floor and the bottom floor condo recently went up for sale. Im trying to weigh the pros and cons about becoming a landlord to an adjacent unit. Some of the pros I can think of are proximity to my investment if there are things needing to be addressed. Also, I would get to decide on who I rent it too. Are there any additional financial considerations in regards to mortgage rates or insurance that I should be aware of once I own both (all) the units in the HOA? What about cons? If anyone has personal experience with something like this I would love to hear your thoughts. submitted by /u/mycartel [link] [comments] source https://www.reddit.com/r/RealEstate/comments/1sgtoi3/should_i_buy_the_condo_downstairs/

I put in an offer on a house earlier this year that I later rescinded, but in my initial offer contract, my real estate agent had me sign an exclusivity contract.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/