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...

Hello, I just received a phone call from a company claiming to help families/heirs collect surplus funds after a foreclosure sale. At first I thought it was a possible scam. They claim heirs don't pay them, but that they take a contingency on the claimed funds (~35%). Background: My grandmother owned property in a small rural town in TN. I live in Florida. Is there any way for me to redeem/reclaim the property and keep it after foreclosure? I'm reading that in some states, there is a time period to do this, but am curious if others have done this before and what steps I should be exploring, what documents I need, and if I absolutely need to hire an attorney. Advice? (P.S. I know there are lots of property owners here who take advantage of situations like these to increase their portfolio. I'm asking as someone who both wants to retain this property due to family sentiment AND to increase my own property portfolio). submitted by /u/unstereotyped [link] [...

Location: Portland OR And if the deck is composite, do they care about how close it looks to actual natural wood? I'm thinking about putting in a deck and definitely convinced that composite is the right way to go. I'm curious what buyers think about it. Personally I would see it as a benefit because composite decks have great warranties. For the two materials I'm looking at the price difference is about $3,000 and I just don't think it's worth the extra money for a material that looks a little bit more like wood than the cheaper one. They both have the same warranty. Does a deck add to property value? The area that I'm in is middle class / not rich or fancy. I'm trying to turn my backyard into a entertainment space that has a lot of privacy. The front yard is pretty worthless for anything really. It's just not a usable social space. Edit: I'm not asking if I should consider buying wood. I'm asking whether buyers actually care about that....

I have so much on my mind and I just need to get it out of my head. I'm in the process of selling a house in Maryland and buying a house in Michigan, relocating for a job. This process started in December when I accepted a job offer, but our first bank (and current mortgage holder) kind of screwed us by not doing their due diligence and pre-appoving us without a sale contingency. We were scheduled to close on a house in January when underwriting informed us (after I had asked our loan officer and processor multiple times) that we have to sell our MD house first. Smash-cut to March. I have to start a new job, so I'm in an Airbnb while my SO and pets stay in MD to sell the house. We finally get a buyer, and we find an awesome house in MI. Timelines are synced up pretty well. But the two states operate differently. MD schedules closing when the purchase agreement is ratified. MI doesn't schedule closing until we get our Clear to Close notification. Now we're contracted t...

I'm a real estate agent/investor in Louisville and I keep seeing people on this sub talk about Nashville, Austin, Boise — markets that got hyped and then corrected. Wanted to throw Louisville into the conversation because the numbers are kind of wild. Median home prices: National average: ~$415K Nashville: ~$475K Louisville: ~$265K That's 39% below the national average and almost half of Nashville — a city that's only 3 hours away. Meanwhile, Kentucky just had its second-best year ever for private-sector investment ($10.5B statewide, $5B+ in the Louisville metro). Ford, GE Appliances, Meta, Foxconn — all building or expanding here. UPS Worldport (largest automated package facility on Earth) is here. Humana is HQ'd here. For investors: cap rates run 5.7% to 11%+, rent growth is 2.5% vs 1.1% nationally, and new rental supply is at an 8-year low. The gap between Louisville and comparable metros is going to close. The question is just how fast. I wrote up the fu...

I have an offer accepted on a house, so the next step is to rate shopping. I plan to reach out to 4 lenders. Should I get a full pre-approval from each lender or just give them all the needed information to get a quote? submitted by /u/redhamster2009 [link] [comments] source https://www.reddit.com/r/RealEstate/comments/1sdj0u6/rate_shopping/

Have a question about the tax lien auxiliary session. As I understand these would be unsold tax liens during the auction. These are set as "buy now" tax liens, but what im unable to find is the interest on these liens. Are these automatic set at the maximum, which in AZ would be 16%? submitted by /u/turbo_the_world [link] [comments] source https://www.reddit.com/r/RealEstate/comments/1sdh2e4/tax_lien_auxiliary_session/

I'm closing on a new build in South Carolina - it's a new sub-division from a national builder. Would be my primary home. I'm considering if it would make sense to skip the title and general home insurance? My thinking is - why pay for insurance on something I can afford to replace. Anybody went through this? Is the risk/reward worth it? submitted by /u/AlternativeBank1869 [link] [comments] source https://www.reddit.com/r/RealEstate/comments/1sday54/skipping_title_and_hazard_insurance_on_a_cash/

We learned through our insurance quote process that the sellers had a prior claim. They said after Hurricane Helene (2024) there was a small water spot at the ceiling-wall junction in the first floor living room. Home wasn’t in the direct path but located outside Greenville SC. Sellers only spoke with someone on the phone — no adjuster came out — and the sellers said it went away. Nothing was paid out. The sellers say this has never happened prior to and hasn't happened since. The CLUE report showed no info besides the date, $0 payout and the word “WIND”, but the sellers say the issue was water as noted above. We have no records of any remediation and the sellers have not mentioned doing anything to address it other than calling their insurance company because they didn't know what else to do. The house was built in 2019. Our inspector was not aware of this during the original inspection and sellers did not include it on the disclosure. We have scheduled a re-inspection with...