As the title describes, I got a real estate agent and signed a 6 month contract to sell my house. My house sits on an acre in San Diego, California, it has 5 bedrooms and panoramic views through out the house. The house is valued at 650k, this real estate agent who I signed with 4 months ago to sell my house was telling me that there was multiple people who were interested in purchasing my home, he began to tell me that because my home is in bad condition because of landscaping and a few other minor things he said he can sell my house for 450k to an investor that HE knew and that he also had a friend who could also offer me 450k as well. I come to find out that this real estate agent has never even listed my house on MLS, Redfin, Zillow, realtor, or any websites saying that it was for sale. My house was not even listed on his real estate companies website that he works for. This real estate agent knows I have fallen on hard times and that my house is up for foreclosure very soon. He t

Tldr; our realtor went to sleep and didn't explain 10k overlist offer asking 10k in closing...motives?? We just got our first offer on our townhouse (we are still pre market) List: 384,900 Offer: 394,900 asking 10k in closing ???Does that not just make it kind of a moot point?? What is the motivation here? Do they just want us, as sellers, to be all glittery eyes OMG 10k over list...sure here are closing costs.....????? Our concern is with appraisal our neighborhood doesn't have any recent past comps in the last 6mo and those were at 350s little to no upgrades. We have updated all baths, kitchen and laminate throughout. It shows very well. but 20yo windows,roof,HVAC (all in good/ working condition) comps in other neighborhoods are in 380-415 similar features, space, community amenities. Many not very updated. submitted by /u/dogbearbeardog [link] [comments] source https://www.reddit.com/r/RealEstate/comments/c7nj9e/explain_this_offer_to_me_offering_over_listbut

The seller and buyer agreed that no termite treatment will be performed. Escrow has closed. Why is the agent still trying to get me to sign the buyer’s inspection waiver? Deal is in California. submitted by /u/Agentreddit [link] [comments] source https://www.reddit.com/r/RealEstate/comments/c7nzjl/escrow_closed_but_agent_is_still_trying_to_get_me/

submitted by /u/timothyouzts [link] [comments] source https://www.reddit.com/r/RealEstate/comments/c7my3r/what_are_the_repercussions_of_backing_out_of_a/

Hey guys, i want to know if you had any weird or scary encounters as a landlord. Did anyone ever blackmail or threaten you? Let me know if you ever had this kind of experience before. submitted by /u/Rahulh_13 [link] [comments] source https://www.reddit.com/r/RealEstate/comments/c7mim3/your_scariest_moment_as_a_real_estate_investor/

Relevant link here . There was already a house sold in Manhattan on blockchain last year but interesting to see this move oversees. Anyone here have any experience or thoughts on how prevalent this might become? submitted by /u/looseboy [link] [comments] source https://www.reddit.com/r/RealEstate/comments/c7n9ym/europe_completes_its_first_ever_blockchain_real/

My Husband, my 3 year old, and myself were told by my Father-in-Law that we need to be out by September because his girlfriend is moving in. I am freaked out. I have no idea how to start this process. We have no credit (scores of 637ish and never used credit cards) and are looking and renting because we have limited income. Combined we make approximately $3500-$4300/month Expenses are approximately $1275 (phone bill, car insurance, groceries, gas) My husband spends about $500/month on gas because he commutes daily from the central valley to the bay area. Would moving closer to his work be better? The rent goes up the closer you get but I don't know if it outweighs the cost of gas. I have about $3500 saved at the moment and he is expecting a bonus check next month around $1000. My question is: where the hell do we start? How much can we afford? submitted by /u/specksandflecks93 [link] [comments] source https://www.reddit.com/r/RealEstate/comments/c7n44p/i_am_freaki

I have spent my entire life in a New York City apartment which I own, which is now worth almost half a million. I plan to retire to Texas in about 6 or 7 years or so, cheaper to live of course, (compared to NYC) and honestly all I want to do is spend my life relaxing in a house with a hammock and a dog. Austin, TX is close enough to some of my family (the ones I can actually stand to be around) and I’ve been there enough times to have a good feel for it. I’ve been keeping an eye on some houses around there, and there seem to be some decent ones around 200-250k. I don’t need a huge house. Question is: is it a good idea to buy a home outright with cash? I can sell my NYC apartment and have more than enough to buy a house outright, and still have some cash in the bank for other unforeseen expenses, etc..is there any pros/cons for paying for a home in cash versus financing? submitted by /u/dbhalberg [link] [comments] source https://www.reddit.com/r/RealEstate/comments/c7ladd/w

Can anyone give me very minimal info on what things I should look at when buying and renting out my first home? I’m hoping to have the capital in under 2yrs which I’m looking at have around 60k which is doable. I want to know from a trusting someone who’s had success with multiple homes. What kinds of things would I be needing to look into as far as landlords, keeping overhead and expenses low, taxes, etc. Wanting multiple properties myself within 6 yrs maybe 5-6 homes being rented. I know the income won’t be there for awhile but I’m thinking long term it’ll be a good investment, especially if I end up with 10-15 homes in multiple areas. Which brings me to the question of having landlords or keeping up on my property while me not being there and still making a profit. I’ll be doing lots more research in the meantime but that’s what I’m heading towards for early retirement, real estate investing. 27 years old if that means much. Thanks submitted by /u/DevJohnson113 [link] [co

Hi Reddit I recently purchased a house with intentions on putting a $10,000 fence in. The builder isn't too keen on doing it because of the flow of the street. He WILL do it as per the agreement but I'm also having second thoughts and fine with not. The lawyer did a $10,00 holdback for it. The builder said he could finish the space under my deck with pavers and finish it nicely for more outdoor living space with privacy shutters/ blinds or put in other upgrades in the house like a bar etc. Should I do any other options? If i do, I want them to be value add and get the money back if I sell in the future. OR I can just take the $10,000 and invest it?? Is there also anyway I can see if I can give it back to the lender and they can rewrite the amount of my mortgage? Been in the house 10 days. Thanks for any input and guidance here. submitted by /u/LifesOptimist [link] [comments] source https://www.reddit.com/r/RealEstate/comments/c7m69r/what_to_do_with_7000_holdbac

curious how it went and if they crossed all the t's. submitted by /u/mfairview [link] [comments] source https://www.reddit.com/r/RealEstate/comments/c7lyyx/anyone_ever_use_hyatt_legal_services_to_close_on/

I have an excellent credit score 770+ I have W2 work, but I also have a lot of independent contractor work and over this last summer work has been very slow and my work doesn't pick up until fall so it currently looks like I am not making much money. I am looking for a condo in the $100-130K range. (Homes in my area [Miami] are much more expensive for anything decent $250k+) so it will have to be a condo. For a $130K place I have enough for 10% down, but ideally I would want to put 5-7% down so that I have a bit of a cushion for unseen expenses. From what I've been reading, in order to qualify for a loan you should have proof of full-time employment of 2 years+ and tax returns that show you can afford the payments. Unfortunately I do not have either of those. My last 2 tax returns definitely look like I don't make enough. And my employment makes it look like I have unsteady income. I'm starting to think if it is even worth taking the hit on my credit trying to qua

Uber-beginner here, I know little about real estate, but this is my question. Let's say I want to buy a plot of land in northern california and build a small minimalist house on it. Something with perhaps one bathroom, one kitchen, one living room, and one or 2 rooms with everything very integrated. Could something like this be achievable for under 100k? This is the kind of house im thinking of, but maybe a little smaller and with changes that could make it cheaper. A one story rectangular "modern" design. https://archello.s3.eu-central-1.amazonaws.com/images/2014/02/21/h25.1506072731.9372.jpg submitted by /u/dalecooper56 [link] [comments] source https://www.reddit.com/r/RealEstate/comments/c7h3iz/ca_building_a_tiny_house/

My mother passed back in February, and my brother and I are trying to sell the home. However, we’re conflicted on how to approach it. He wants to sell it “as is,” but I think we need to empty the place and put a couple thousand into it so that it might sell quicker. The house is about 20 years old and in relatively good shape. My brother seems to think that if we leave the furniture in it and not worry about some of those spots that need to be painted or patched. I’m kind of leaning the other way. Get stuff out. Replace the carpet. Patch and paint. We’re not terribly concerned about the price. We’re more concerned about running out of money for the mortgage. Anyone ever sold “as is?” What was your experience like? submitted by /u/Sweatsock_Pimp [link] [comments] source https://www.reddit.com/r/RealEstate/comments/c7fwlw/anyone_ever_sold_a_home_as_is_what_does_that_mean/

We've been renting this place for a year, when we signed the lease, we paid first last and a deposit equivalent to one months rent. We recently renewed lease last month accepting a 50$ increase. This morning, landlord reminds us about 50$ increase tomorrow and says "and don't forget the extra 100$, 50 towards the security deposit and 50 towards last month of rent." Is it standard to increase the amount of the deposit and last month rent to reflect current rent? Everywhere else I've ever rented, I've paid first last and deposit, and they remained like that no matter what the rent increases were. Thank you for any insight submitted by /u/trill0llirt [link] [comments] source https://www.reddit.com/r/RealEstate/comments/c7f9cm/surprise_increase_to_deposit_and_last_months_rent/

Bought a house few years back as a rental in the Bay Area. After looking for months found one reasonably priced and good rental income. From looking at all of the different homes I noticed that basically all of them have unpermitted work done. The house I bought is no different and has converted garage, and a whole bunch of other work that was very obviously done without permits. On one hand, every house in this area has obvious work done since most of the houses are 70 years old, and none have permits. But on the other, I want to change some lines to the house and update electrical box...which would all require permits and am worried about that once the city shows up, I will have to rebuild the whole house. So far the city just appears to want to rip off the homeowners and are mostly interested in making money. And once they are there, you have no leverage or a way of fighting back. Would like to hear some experiences or advice from people that went through similar situations. Are t

I am looking to buy a home in Washington/Seattle area. Is there any way to buy this home without anyone being able to look up my new address? I heard purchasing under a business name is an option, but I would imagine the taxes are complex. Is there any other option? submitted by /u/tgupscoffee [link] [comments] source https://www.reddit.com/r/RealEstate/comments/c7g1k9/how_do_i_buy_a_home_but_ensure_my_new_address/

My son helped me out 9 years ago by buying a house for me in which my daughter, him, and me live. We had an agreement that when I was stable I would buy the house from him for what was left on the mortgage. I have been paying for the house all along, per our agreement. No problems. He and I are now ready to do this. His mortgage company said that he should have me added to the deed and when that is registered by the county then refinance the house to remove him from the deed and the mortgage. It would be the cheapest way and is legal. So, how do I do that? submitted by /u/Flustered3 [link] [comments] source https://www.reddit.com/r/RealEstate/comments/c7g0ro/how_do_you_add_your_name_to_the_deed_of_a_house/

Anyone here actively doing this, and/or having any success? I'm wondering if there's any downsides I'm not thinking of, because it isn't something I see in my area. I've always gone the paid boosted post route, but marketplace seems like a free, and potentially better alternative. Any compliance notes (OAR or otherwise) would be appreciated as well. submitted by /u/theProbablyPolicy [link] [comments] source https://www.reddit.com/r/RealEstate/comments/c7fz11/advertising_listings_on_fb_marketplace_ohio/

As the title notes, this is a multi billion dollar industrial town with a neighborhood along for the ride. At one point I was optimistic that I could make something out of it, an artistic old town kinda thing, a social landscaping of creatives, just got an old school barber shop that moved in. ​ With that being said, part of me thinks it is a lost cause. The industry is a chemical plant and god knows it's good for no ones image, much less their health. The plant also provides clients to these businesses and without it, it'd probably be worst for me financially. Yet, awhile backI thought I had the potential to change the perception. ​ We have 6 commercial spaces so far, many empty, I think that is the worst thing. I'd give away rent, abatements just to add some life to the block but I don't know if this can ever be more than what it is? ​ What would you do? submitted by /u/satorisoul [link] [comments] source https://www.reddit.com/r/RealEstate/comments

Hi! Was thinking about utilizing this method but had a quick question about purchasing the property. Do I have to shell out the lump sum cash to buy the property? I have about 50k saved up but the 5 unit I want is 200k. Should I just keep saving so I can buy it cash? Or is there another way? submitted by /u/igotquetions [link] [comments] source https://www.reddit.com/r/RealEstate/comments/c7f40n/brrr_method_buying_question/

So here’s question I have, and perhaps more experienced folks can comment. I’m wondering if condos benefit from economies of scale? For this assume there are 15 units. Say the association wants to replace all of the outdoor decks. They get one contract to do them all. I assume the price of doing that / 15, is less than if each person where to go our and contract someone individually. Same with landscaping, maintenance etc. Does anyone else believe this to be the case? submitted by /u/Grimakis [link] [comments] source https://www.reddit.com/r/RealEstate/comments/c7eeid/condominiums_hoa_and_economies_of_scale/

I have a large amount of money to put down on a home. Is it possible or even legal to offer to pay for 10k or so of the sellers closing costs in order for them to drop the home price by 10k? It would really help because transfer costs where I am at are incredibly high. I would still be putting 20% plus down on the home. Any other ideas would be appreciated. Thanks. submitted by /u/maddirtyplumber [link] [comments] source https://www.reddit.com/r/RealEstate/comments/c7dudt/paying_sellers_costs_to_lower_home_price/

I just learned that a drive thru dispensary is being build down the street from my house. I have a townhouse in the verybfromlnt of the complex. If you stand in the complex driveway you can see the new building. I'm indifferent about it but wondering how it could impact my property value. submitted by /u/Mollymollymolly0707 [link] [comments] source https://www.reddit.com/r/RealEstate/comments/c7esy6/will_a_drive_thru_weed_dispensary_a_block_away/

My husband and I are suppose to close on a house in 2 weeks. We signed off on inspection, hoa packet, etc. Contract is contingent on financing (we are approved). I just found out my husband has been having an affair. I have hard indisputable evidence (the woman’s husband sent me screen shots). He doesn’t know that I know, but I plan on confronting him once I get my ducks in a row. As for the house, I want to back out and file for divorce. I don’t care if we lose the deposit, but I don’t want to be sued by the seller (a realtor), my realtor or any of the finance people. Can I back out? And if so should I say family problems as the reason? I can not afford this house on my own. TIA submitted by /u/Helpmeout5535 [link] [comments] source https://www.reddit.com/r/RealEstate/comments/c78dwq/family_problems_i_want_to_back_out_of_contract/

Hello all First time poster. I’m currently looking at a detached house and found that there is a little gap under the walkway to the backyard. Is this a serious problem? (ie sinking foundation)? Thank you image submitted by /u/furyp [link] [comments] source https://www.reddit.com/r/RealEstate/comments/c7a28p/considering_a_house_but_found_a_gap_under_the/

So something got me thinking the other day, what is the future of real estate? Thank you! submitted by /u/Zakku_Rakusihi [link] [comments] source https://www.reddit.com/r/RealEstate/comments/c7abu0/what_is_the_future_of_real_estate_technology/

I am a 21 year old graduating a year from now. I have goals of getting into real estate investing eventually through acquiring properties that I plan on living in for a bit then moving out and renting them out. I will hopefully be making about 40-50K upon graduation. My question is is it a bad idea to get into a house early out of school (me and my older brother have been talking about possibly splitting a house) if I don’t have much savings other than a couple grand from working throughout college? Or should I rent an apartment/house for a couple years while saving up for a down payment? submitted by /u/nmb012 [link] [comments] source https://www.reddit.com/r/RealEstate/comments/c79p15/soon_to_be_college_grade_deciding_on_rentbuy/

Has anyone worked with this program. What are the pros and cons for buyers? I’m looking into using this program, but it seems to good to be true. What’s the catch? submitted by /u/EmilyAnn1790 [link] [comments] source https://www.reddit.com/r/RealEstate/comments/c77frl/naca_neighborhood_assistance_corporation_of/

Backstory: My offer was accepted, and the house was inspected and appraised. The sellers disclosure noted that the basement does leak in the spring. The inspector saw that it was leaking after recent heavy rain, and at that point both the inspector and my real estate agent suggested that clearing the gutters and grading the area around house would likely take care of the issue. The house is 95 years old, has block foundations, and after speaking with the neighbors, they've told me that every house in the area has water issues. I grew up in a house with block foundations that leaked, and it wasn't a big deal. We just fixed our downspouts and graded around the house. It didn't seem like a big deal, and in this area, every house has a leaking basement, so we proceeded to the next step. The appraiser came and noted the water, too, and the bank now wants a foundation inspection. The house appraised at $14k over the accepted offer (about 15%). Cutting through the marketing

I want to be able to use proper terminology for items in a house, as well as common materials and am looking for some guidance. For example I would love a book that had lots of definitions of housing types like Craftsman, French Provincial, Cottage, and explanations as to what makes them that. I would also love info on what types of materials you find through the house like why you should / shouldn’t use quartz, granite, marble etc in certain areas... or pluses and minuses of other materials or designs. I would appreciate any insight. submitted by /u/PPhant [link] [comments] source https://www.reddit.com/r/RealEstate/comments/c776na/looking_for_ideas_on_where_to_learn_about_house/

I'm not sure if this belongs here but my mom hired a realtor to find tenants and the realtor seems to have gave unsolicited private information and advice to her previous tenants. This resulted in nearly $10,000 worth of damages to my childhood home. The realtor failed to disclose the details of the rental contract agreement to the tenants and is actually supporting them in these violations. My mom just thought to tell me all of the realtor's shady behavior like introducing her to contractors and receiving commission from the contractors. As a result, my parents are involved in a small claims dispute with the previous tenants and is considering suing the realtor but most google searches are for situations involving buying and selling real estate. The dispute is over a property in California but we're wanting to hear experiences regarding situations similar to this. submitted by /u/AggravatingPie1 [link] [comments] source https://www.reddit.com/r/RealEstate/com

We are looking to buy a condo in Los Angeles and just got out bid on a great condo in a complex we loved. A VERY similar unit just came on the market but it’s a REX home. I’ve never really heard of them or known anyone with experience using them. I would love it if anyone could share their experience good or bad. Is it worth hiring a realtor for us to pay on our end, or is working with Rex reasonable? My SO used to do commercial real estate and sell businesses, so we can navigate the paperwork and inspections on our own.... How is their process, since they are obviously operating at a discount of 2% commission. submitted by /u/raralala2019 [link] [comments] source https://www.reddit.com/r/RealEstate/comments/c769gt/anyone_have_experience_buying_with_rex_homes/

I've always looked up listings on a lark, never having owned property myself. How is it that bathrooms outweigh the number of bedrooms, especially in higher priced listings? I'm honestly stumped. When did this trend really get it's start? submitted by /u/bademailname [link] [comments] source https://www.reddit.com/r/RealEstate/comments/c761r1/when_and_why_did_it_become_a_thing_that_there/

There’s an open house for a home that I grew up in next week that I want to go visit since I have fond memories of it as a child. How often do people do that in your experience? And is it proper to let the listing agent know when you get there so they know you may not actually have any intentions of buying it? submitted by /u/Tyrionlannister92 [link] [comments] source https://www.reddit.com/r/RealEstate/comments/c6zt2t/hey_realtors_how_often_do_you_see_people_visiting/

I am in the process of buying a flipped pre-1978 house. The quality of the renovation is good, but to be on the safe side we ordered a lead clearance test to make sure it was cleaned up properly after the recent renovations. Unfortunately, it failed the test (10x recommended lead levels in dust on some sills and floors). Our realtor doesn't have much experience with this (apparently people don't usually do any type of lead testing in this area), and I am wondering what is a reasonable response for this the due diligence. I know that for safety purposes all that should be necessary is a careful cleaning followed by another lead clearance test, but I am also worried about issues with future resale as we would now have to disclose a failed lead dust test (of course we would also disclose the subsequent passed clearance, but I worry this will still spook some buyers). I assume the current sellers will have the same concern if the present deal now falls through, so I would guess we

Its so annoying. Seeing several amazingly priced homes, only to read "in need of TLC" and the likes. Why cant a retail buyer just weed out homes that aren't materially "move-in ready". I don't want to fucking see anything else. Is there another MLS site that does this (redfin does, but tens --if not hundreds-- of fixer properties still make it through)? submitted by /u/Mr-Ivar [link] [comments] source https://www.reddit.com/r/RealEstate/comments/c6z4x6/why_dont_zillow_and_redfin_tries_but_fails_allow/

Ready to buy, pre-approved, currently renting. Our property manager said he can get us out of the lease early if we use him as the realtor, which we’re not thrilled about, since he hasn’t been a stellar property manager (takes forever to respond, doesn’t fix certain things at all). I read the lease, and it says either we or the PM could find a subletter for the fee of 70% of one month’s rent, which is do-able. I’m in an area where home values have been rising steadily for years. I’m worried that the houses I see now in our price range will be out of that range if we wait a year when the lease is up. Should I make an offer on a house another realtor showed me? Am I being realistic about the market or creating a situation where I feel pressured to act immediately? submitted by /u/snootopia [link] [comments] source https://www.reddit.com/r/RealEstate/comments/c6ynhj/first_time_homebuying_fever/

Hi, In the US, have a real estate foreclosure system in court but I can't find it in UK. Is UK have different foreclosure real estate system? submitted by /u/rea1ity83 [link] [comments] source https://www.reddit.com/r/RealEstate/comments/c6vyqf/is_it_uk_have_real_estate_foreclosure_system_in/

I bought my house in February. The credit union gave me 100% financing at 0.75% interest (this is Tokyo, interest rates are unusually low) for 20 years. Just talking round numbers, the house was about $180,000, and the monthly payments are about $700. The balance after this and that extra payments at closing is about $165,000 now. My original idea was to make the payments for 10 years, and then pay off the balance. Before 10 years there is a $900 pre-payment penalty. Some people might say at that interest rate why not stick it out for 20 years. But I'm 63 years old and so have to consider that as well. In addition to the main house on the 2nd and 3rd floors, there is also an empty downstairs which can be rented out as an office or even just a storeroom, with potential rent potential of $800 to $1,000/month. Or I could divide it and use part myself and rent out the rest for about $500/month. All in all a good deal. Tokyo has some bargains. But this is where I get confused. I

So, I’ll try and be as concise as possible. In negotiations to buy a new home and something we found during inspections were termite damaged sill plates in the basement. The damage was visible by just poking a finger through the wood and down the exterior of the wall going about 8-10ft. The sellers agreed to fix it and yesterday we came to see the work. It appears they put in a reinforcement plate. Not sure if they cut out the old or inspected for more damage. We than called our home inspector who said this they definitely took the cheaper route, but it should be okay. Should this be a red flag or should be pursue further on negotiations? Thanks for any help and advice! submitted by /u/Melasteve [link] [comments] source https://www.reddit.com/r/RealEstate/comments/c6x389/looking_for_advice_on_a_potential_new_home_we_are/

Hi all, my first time posting here. Forgive my formatting. Our daughter is about to start elementary, and we are looking to buy a house in the Illinois suburbs with decent schools. After lots of research we had found 2 houses in Hoffman Estates that are attractive to us in their own ways and we have a hard time deciding which to buy. House 1 has all 3 schools (elementary/ jr high/ high) as 9/9/10 based on GreatSchools rating (fairly accurate IMO), but the house itself is a bit dated with some updates to do (mild stuff like window frames etc) House 2 has the 3 schools at 5/6/10, but the house itself is fully renovated, we don’t need to do any additional work. House 2 is about 5% more expensive than house 1. Same tax. Would like to get some ideas on which one to choose and why? Thanks a lot in advance. submitted by /u/balpby1989 [link] [comments] source https://www.reddit.com/r/RealEstate/comments/c6uzrc/good_schools_or_good_house/

So I bought my first home three years ago and my rafters are failing. The home inspection didn't catch it and I didn't know anything about them. I have tried the insurance route and was told lack of ventilation was the culprit So I was denied. The roof repair is about half the cost of what I purchasedy home. So now I can repair the roof for 80k-100k or leave but I'm going lose my ass on this house. What are my options? submitted by /u/Amrothnimrodel [link] [comments] source https://www.reddit.com/r/RealEstate/comments/c6vjvx/what_do_i_do_about_my_roof/

Is this normal for realtors to recommend their contractors? Is this common? Thank you. submitted by /u/Ispepsioko [link] [comments] source https://www.reddit.com/r/RealEstate/comments/c6uzmt/posted_a_recommendation_on_nextdoor_for/

My husband and I are on different pages when it comes to purchase price of a home (First time homebuyers and plan to make this our forever home). He is very conservative, he thinks about our future kids, saving for their college, etc. I 100% agree we need to take these future costs into consideration but I believe he is being TOO conservative but would like others opinions/ expertises/ experiences. 1 we can easily afford to put 20% down 2. The only debt we have is my car which is being leased right now for $450/month. I plan to buy it at the end of the lease this fall for 22k. We have no student loans or credit card debts. He will need a new car in the near future (prob in a years time)3. He’s salary and takes home( after taxes) 4k/month. I’m hourly so my paychecks vary. I average $3600/month. He also gets quarterly bonuses (not guaranteed but 99% of the time gets them) of about $1200. He also gets raises each year of about 2k. We do plan to have children in the future and I do want t

Hey everyone, sorry if this is a dumb question—I just bought my first house 10 months ago and am still pretty clueless about a lot of things. So the house was $230k and my monthly PMI is $218. I have a conventional loan, so PMI is supposed to drop off once I reach 20% equity. My question is, will the monthly PMI payment remain that high all the way up until that point? In theory, if it takes me 8 years to reach 20%, will it always be $218 until that point? Or will it slowly reduce itself before then? If it reduces, when, and by how much? My interest rate is 5.1% if that maters at all. submitted by /u/idontknow2317 [link] [comments] source https://www.reddit.com/r/RealEstate/comments/c6thz8/will_my_pmi_always_be_this_expensive/

I was checking zillow today and I came across a condo for a very good price in a decent area which had a right of first refusal. A big red flag for me was that I can remember seeing this same condo for sale about a year and a half ago for the same price. They seem to be taking it down and putting it back up over and over again because it says it was posted recently. It also does not allow rentals. My understanding of right of first refusal is that if you purchase the condo and want to sell it the HOA gets first dibs, correct? On this case what is the HOA trying to accomplish? It seems to me like they just want someone who will stick around for a while but I am wondering if I'm missing something. submitted by /u/5prcnt [link] [comments] source https://www.reddit.com/r/RealEstate/comments/c6td2x/condo_for_sale_with_right_of_first_refusal/

Hi well I was working years before and saved up for a cheap duplex and my parents helped me. It’s paid off and Im also 23 and still live with my parents so I pay no rent or mortgage and I’m not working anymore but currently have $3000 a month in rental income. I would like to get my second duplex and live in it this time using a mortgage as I have no money, Would I ever qualify for a mortgage showing I’m unemployed but own rental property and live with parents or do I need to go back to work full time again? No car loan since I use ole reliable parents camry, practically debt free currently and fico score is above 700 submitted by /u/e30sonny [link] [comments] source https://www.reddit.com/r/RealEstate/comments/c6ubf3/mortgage_while_unemployed_but_i_have_rental_income/

Fiancé and I are pursuing a foreclosed home that was built in 1885. We got our home inspection and it went much better than we expected - no evidence of termites or wood boring insects, metal roof in great condition, foundation is good, only some minor electrical issues (my grandfather is an electrician) such as replacing outlets. We are having a sewer inspection early next week. The main looks to be cast iron, which makes me nervous as it is pushing 140 years old if it is original. There was a front porch addition in 1986, as well as new metal roof in 1986. My question is how likely is it that the sewer was replaced during that time along with those other improvements to the home? Was cast iron even still used in the 1980s? submitted by /u/coffeeNcatz [link] [comments] source https://www.reddit.com/r/RealEstate/comments/c6szbw/cast_iron_sewer_main/

Sellers past and present of owner occupied homes- how much went into cleaning/ organizing/ maintaining your house to be “show ready”? Especially interested in hearing from those with toddlers/ small children/ pets. etc. Was your “show ready” home all that different from your “everyday life home” Thanks! submitted by /u/kmw11988 [link] [comments] source https://www.reddit.com/r/RealEstate/comments/c6sywd/getting_and_keeping_your_home_show_ready/

My brother and I have started doing some real estate investing together. We live in separate locals with his being better for finding reasonable deals. We each bring something to the table, he finds the deal, does the leg work, sets up the refinance, deals with the rehab (although on the first one I did some of the rehab but he admittedly did alot more.) I bring the capital and pay for all associated costs. We then do the BRRR and refinance all my money back out. We then each have 50 % ownership. He has recently requested that he get an additional 10% from my end of rent to manage my portion of the property. I am opposed to this as I sort of see it that him getting 50% without having to put up any money should be fair. He sees it the other way cause I get all my money financed back out and he says he could just get the money from the bank and own the whole thing but he prefers that we do it together. The last property my money was only tied up about 3 months before refinance. Who is

The zestimate on my house (none of my neighbors) alone went down 25%. What the heck is going on? My neighbors crack den with one less bedroom is currently zestimated higher than my house. It seems impossible that my house alone could go down like this. submitted by /u/mortimanmpls [link] [comments] source https://www.reddit.com/r/RealEstate/comments/c6spi7/why_did_my_homes_zestimate_go_down_25_overnight/

I own a ZLL with a shared foundation. Both sides of the ZLL have been condemned by the city pending repairs. I cannot stay in the home neither can my neighbor. The contractor requires that both sides agree on the repair and divide the cost before they can start the engineering and permitting process. My side is ready to go, we have the funds necessary and are just waiting for my neighbor. I have been waiting for my neighbor for several months while paying for a rental and a mortgage. I am not sure how much longer I will be able to pay for both places. I need to get the house repaired to move on with my life. My neighbor is insistent on “having the bank buy him out” whatever that means and says that he cannot do a repair due to “negotiations.” Do I have any recourse in forcing a decision? Am I stuck with a unlivable home till my neighbor sells, or forecloses? submitted by /u/skyhawk13205 [link] [comments] source https://www.reddit.com/r/RealEstate/comments/c6rm39/shared

I’m in my late 20’s, I have a masters degree in engineering, and I’m from Ohio... I own a house and enjoy helping my friends look for houses and work on home improvement projects. I spend more time than I should looking at listings, and have always wanted to get into real estate investing. At this time, I’m not ready to get into real estate investing but I’ve been thinking more about becoming an agent. Is it possible to do this on the side while having a full time job? Would an agency hire me part time? I know there are educational and certification requirements, but does anyone know if my existing college education would cover any schooling requirements and if I’d just have to take a test (in Ohio)? Thank you for the advice! submitted by /u/blankman91 [link] [comments] source https://www.reddit.com/r/RealEstate/comments/c6rhan/im_an_engineer_thinking_about_becoming_a_real/

We are first time buyers trying to get a house in a very strong seller’s market right now. We found a house we would like to put in an offer on but the seller is requesting two extra days AFTER closing before turning over possession. The timing of it doesn’t bother us, we can easily spare the two days, but the potential to do a final walk through only to find the house trashed two days later is off putting. Our realtor said clauses like that put off a lot of buyers for that reason but sellers can still push for it because people are so desperate for a house here. What should our thought process be here? We are thinking of still doing the offer without that extra two days but make clear that if they need extra time before close (so they can get moved out, etc) we are willing to do a slower close. Are we being overly paranoid? Is there a reasonable reason a seller would request this? The realtor suggested it’s because they need the extra time to vacate since they are moving with a baby.

I know there is no hard fast rule & every case is different, but generally speaking in the experience of the professionals on this sub, if a home has been on the market for 100 days are the sellers usually asking for a high price because they aren’t really looking to sell & just want to see what offers they get back? submitted by /u/Kirk_Bohls [link] [comments] source https://www.reddit.com/r/RealEstate/comments/c6r9hj/looking_for_professional_opinions/

Hi everyone! I’m just looking to see if this experience is normal or not. The brief back story is that my husband and I are purchasing our first home from a friend of a family member. There are no REs involved in the transaction. Both parties have RE attorneys. We have been having some issues with our loan officer at the bank, who has sourced our mortgage out to Caliber Home Loans. Our issues are mainly that the loan officer is not very timely with his responses to our emails or submitting/sending documents. We contacted his supervisor and it seems to have improved until this point. We are scheduled to close this Tuesday at 4 pm. Today, our attorney called us and asked if we had any other contact information for someone either at the bank or Caliber. They received our closing disclosure, and several items were not filled out or filled out incorrectly. One of the most glaring items, at least to me, was that our cash to close changed by almost $2000 from the estimated cash to close the

Looking for feedback on this idea. I am a first time homebuyer in Ohio. I wasn’t planning on purchasing at this time, but my wife and I went to an open house and really felt that the property hit most of our primary needs/wants and price for sq ft was great for the area. We do not have a buyers agent as we were not “actively” looking. As I understand it, sellers will pay ~6% to the sellers agent upon completion of the sale, of which the sellers agent will typically split with buyers agent at 3% for each. As we do not have a buyers agent the sellers agent will get to keep all 6%, if we don’t hire an agent. Only being interested in this one property, my thought was to offer sellers agent to dual represent for this transaction only on the condition that they give us 1.5% of the commission towards closing costs. This way sellers agent keeps 4.5% and is incentivized to close this house with us. I think this is a fair deal as the agent would be doing less “work” as a buyers agent (didn’t

I bought my home about a year ago. Since then, I've of course gotten the occasional letter asking of I'm interested in selling and do I have an agent, etc. I understand marketing, they don't bother me, I just toss them. However, lately I've also been getting voicemails, robocalls, and texts (sometimes all three at once!) from local realtors asking if I want to sell. (A home just went on the market in my neighborhood, don't know if that's related.) I asked one how they got my number and they told me lexis nexus. Are these kind of cold calls ever successful? They just irritate me. And is there any way I can hide or remove my cell number from these records? submitted by /u/akestral [link] [comments] source https://www.reddit.com/r/RealEstate/comments/c6kpen/realtor_marketing_robocallstexts/

I currently own my own home and have had my eye on others in my neighborhood. My neighbor across the street recently let me know she was selling her home. I asked her if she would consider letting me take the first shot. Later she approached me about it to check if I was serious and once she told me her price, I said definitely. She wants to do everything without realtors so she will have an RE attorney handle her side of the paperwork. I am guessing I will need one as well. This is a first for me so any advice is appreciated. I have considered paying a realtors commission so I don’t have to worry but I would rather just pay the RE attorney if that would be adequate. submitted by /u/TheFuryIII [link] [comments] source https://www.reddit.com/r/RealEstate/comments/c6kt2m/buying_house_directly_from_neighbor/

We went from Accepted Offer to contract to appraisal (it was appraised under list price). Went back to negotiations went 20k Accepted offer got it accepted, goes back into contract. His needed to be resubmitted.... He went MIA, wtf... Literally just went MIA. I don't know what I going to do. This is my reputation on the line. This deal could take me to the next level or shoot me into obscurity. The listing agreement was up 2 months ago. Owners aalready said if it doesn't work out i will not get another chance. I'm so fucked. I haven't told them that the buyer is actively fucking up the deal. submitted by /u/Babayagah21 [link] [comments] source https://www.reddit.com/r/RealEstate/comments/c6krzk/im_going_to_vent_fucking_buyer/

Buying a new spec home which hasn't been built yet, the lot still being assessed and it'll be another 5 or 6 months. We signed our contract and put down a 1k deposit as we were in a time crunch and they were letting us pick the lot we wanted before they decided on which model to place on said lot. They were offering 3k off if using a preferred lender but even they agreed that my current lender had the best offer. We are in a buyers market in this town and this is just one of more than 10+ builders in the area also making new homes (we just preferred the layout of this builder better) I want to know how/when would be a good time or if it's even feasible to ask for a comp before we really buy the place, so far they haven't really budged but I don't even know how to really ask for these things... I'm not afraid to walk if they won't do this, it'll be a 1k lesson but at least I won't feel regret for the purchase. I wanted to ask them to comp the floors

I’m showing a HUD home today, and again tomorrow to separate parties. It sits on 7acres, but both guys don’t want to have the house on it. Just want it for the land. House needs $9K in MPR, which is probably why the house hasn’t been won yet. My question is, if both guys are looking at the property as an investment property and will tear the house down in a year or so, are they going to have to make those repairs? Both guys would still live at their current address for a year or two before dealing with the land and home that sits on it. I’m relatively new and my mentor wasn’t exactly sure either bc he hasn’t dealt with this situation before. Thanks! submitted by /u/seeclarke [link] [comments] source https://www.reddit.com/r/RealEstate/comments/c6jorm/question_about_hud_home/

I’m closing on a house soon and everything has been going very smoothly. However the insurance company has spotted that i don’t have railings on my front steps and a small farmers porch(18”) in the mud room entrance. Any advice on which insurance agency any recent home buyers have used that had no issues with the lack of handrails ? submitted by /u/DifficultIce [link] [comments] source https://www.reddit.com/r/RealEstate/comments/c6ikdt/hand_rail_and_insurance_issues/

submitted by /u/legallyadvisemepls [link] [comments] source https://www.reddit.com/r/RealEstate/comments/c6ffwz/xpost_rlegaladvice_seller_signed_addendum_now_is/

How do you become a real estate agent in ca? submitted by /u/tiffy54321 [link] [comments] source https://www.reddit.com/r/RealEstate/comments/c6f99e/how_to_become_a_real_estate_agent_in_ca/

Hello - I am trying to refinance and started the process with broker 1. Got an appraisal done by a company that broker 1 recommended. About a week after appraisal report came in, I spoke with broker 2 who offered me a much better rate. Is there anyway broker 2 can use existing appraisal report? submitted by /u/iFuckburritos [link] [comments] source https://www.reddit.com/r/RealEstate/comments/c6jhrr/can_appraisal_report_done_with_one_broker_for/

My boyfriend starts his new job this Monday. We were looking for flats last week, found one, put the holding deposit down, filled out all of the forms, background check, credit check, etc, which has all gone through.... and we're waiting to hear back about exactly what day we can move in (they said maybe June 30th). Having heard nothing yesterday, we called the office that was handling our case, and they said that the woman in charge of our flat is on vacation until next week. We then called the real estate office that showed us the flat and has the keys, and they said that they'd look into it ASAP. ​ I'm just wondering what to do here because my boyfriend doesn't have any experience with moving or the apartment hunt as he's been living in his first and only flat for the past five years. I, on the other hand, have moved and apartment hunted a few times, as well as having some past experience as a letting agent, so I sort of know my way around these tricky areas.

I came across an advert for "crowd investing" website and something seems fishy to me. This is the website: https://estateguru.co/investor/ They say that they have "Historical returns of 12.16%" 12.16% is of course insane, since stock market barely returns you 5% inflation adjusted. So what is the catch? I am fully aware there is no free lunch. I think this platform is somewhat copied from already existing crowd financing real estate platforms in the west specifically for Eastern Europe, so the same issues should apply. Kindly let me know all the information you have on why this is a BAD IDEA. Thank you submitted by /u/RealHedgeFund [link] [comments] source https://www.reddit.com/r/RealEstate/comments/c6iqst/eastern_europe_what_are_the_risks_in_real_estate/

The best tenant is the government. It will never skip on rents, it’ll never negotiate a lower monthly rate out of nowhere, and it’ll never be vacant. With that in mind, building section 8 or other subsidized housing units would be the way to go as a jumpstart, correct? If you have done strategies similar/equal to this one, I’d love to hear how it turned out for you. submitted by /u/ActuallyAMammal [link] [comments] source https://www.reddit.com/r/RealEstate/comments/c6hszb/thoughts_on_investing_in_section_8government/

This is the quickest site to my knowledge. ​ There is no limit to how fast you can go through the course, except that you must wait three days before taking the final exam of each of the 6 sections. This means you can go through the entire course in approximately 6 one hour one section chunks. It takes approximately one hour to click through each section and take the three to four question easy quizzes. ​ The section tests are also proctored online, so it saves the drive time to a testing location ​ DISCLAIMER: you still have to pass the final overall Real Estate License and section exams. This process is not a way to cheat the system-- but it allows those that can learn the material efficiently to do so in a faster manner than the time that the state dictates. ​ If this will save you some time (this method saved me 100+ hours), please use my link down below to say thank you. The $25 amazon gift card I get from the referral will be much appreciated. :) ​ https://www.talkable

We are selling our house and had a termite/ wood fungul inspection. There were some issues in the report with fungul and wood rot. Mostly in our decking.The first report was not clear with no pictures and no markings on the actual wood areas. There was an outline of the property labeled a, b or c with notes on what needs to be fixed. Out realtor called to verify and we complied with the initial report issues. They came out to check that the issues were taking care of but now they added additional issues to the report that were not in it previously. Our realtor feels that they did not appreciate that we did not use them and their ridiculous quote to fix the items. I know the issues need addressing and we have no problem in fixing them but is this normal practice? Especially being so close to closing. Are we going to expect new additional issues after the 2nd set of issues are fixed? submitted by /u/BlackYukonSukerPunch [link] [comments] source https://www.reddit.com/r/RealE

Hey all. I’ve posted a couple times here and was wandering the worst part of home buying for you? Everyone says the process is so bad but it really hasn’t been that terrible. My file literally went into underwriting today. Thank you! submitted by /u/Mollyf6686 [link] [comments] source https://www.reddit.com/r/RealEstate/comments/c6epzp/whats_the_worst_part_of_home_buying_process/

We've been under a prolonged inspection period due to schedules of the various inspectors (already pushed deadline twice now). The inspection period now ends Friday at 5pm. Today, the house failed septic inspection. Specifically the filter pump is not working as it should and needs to be replaced. The results have already been shared with the county health department and we have our report which deemed it a health hazzard. Inspector says it will be a 3-5k repair. Clearly we don't have enough time to get estimates for repair/replacement. How should I proceed? Should we ask for seller to fix it? Or, do we take a gamble at a higher cost repair and ask for a 5k credit? Or something else I haven't thought of? submitted by /u/dimplesgalore [link] [comments] source https://www.reddit.com/r/RealEstate/comments/c6dfgp/house_failed_septic_inspection/

https://www.housingwire.com/articles/49421-bill-eliminating-va-loan-cap-signed-into-law submitted by /u/aardy [link] [comments] source https://www.reddit.com/r/RealEstate/comments/c6ee6p/va_loans_loan_limits_w_0_down_going_away/

The house I have for sale as well as all the houses I'm looking at had their zestimates dramatically decreased today. ​ And the houses aren't even in the same area, it's colorado and Illinois. ​ And by dramatically I mean like $50,000 submitted by /u/kermit54 [link] [comments] source https://www.reddit.com/r/RealEstate/comments/c6dvz7/did_zillow_dramatically_decrease_their_zestimates/

Hi, so my driveway looks pretty ugly, and there are some cracks, and sunk-in spots. There is also a separation crack along the house that causes some flooding in the garage. Sealing it will help, so should I do it before I put it on the market? submitted by /u/MBlaizze [link] [comments] source https://www.reddit.com/r/RealEstate/comments/c6dnrx/is_it_worth_it_to_seal_my_driveway_for_500_to_add/

So, here’s the deal: I built a home at $225K in DFW. After upgrades, despite saying I don’t want to go over budget but I did on the granite, the price was upped to $230k during the appraisal but the amendment wasn’t signed until after the appraisal was given to me. I fought the appraisal and got it up to $235k but the lender is saying the VA says the lender can only give me $225k because of the amendment being signed after the appraisal was given to me. Is it possible for me to go to another lender and get a new appraisal and loan for the new sales price? I attempted to the seller to settle at $225k but since I raised the appraisal he’s thinking $230k is low now. If yes who’s a local lender in DFW lol I had 4.25% with 1,800 lender credits and no lending fees. P.S. I don’t recommend creating a ROV on your own, it’s a bitch. submitted by /u/gbeezy09 [link] [comments] source https://www.reddit.com/r/RealEstate/comments/c6dgb4/txva_loan_built_home_appraisal_came_low_can_i

So I am about to close real estate (first home buyer) within a week. Reviewing commitment title, I read owner's affidavit. What does this state in the affidavit? Anyone can educate me for this? And what should I pay attention in the owner's affidavit? submitted by /u/momehap [link] [comments] source https://www.reddit.com/r/RealEstate/comments/c6d7rz/what_does_owners_affidavit_state/