My parents used loaned money from me and their cash to buy a home, cash only. We put the house in my name, a mistake at the time we learned. We are getting a lawyer to transfer ownership into their name, but can I take advantage of the write offs for 2018? The house is in my name for 2018 tax year. They lived in the house "rent free" while they did major repairs. These repairs I helped pay for. It's their primary residence, their first home is in their name still where other family members live. What do I have to say to get tax write offs on the repairs and property tax? I run a small business LLC, so writes offs for home repairs (nearly $15k) and interest during 2018 was nearly $8k for the borrowed money on home repairs. It could be treated as a business expense and I could be a landlord? If family is there, is it personal use and repairs can't be written off? Eventually the house will be sold once repairs are finished by my father as it was a gut job and then a...

Where can I find my properties legal boundaries? submitted by /u/UrBeautiful47 [link] [comments] source https://www.reddit.com/r/RealEstate/comments/dbmm7y/looking_for_property_boundaries/

Hey everyone, I’ve been trying to get into the housing market for months now. I’ve been pre-approved from my bank and have a big down payment saved. I spend my entire weekends going to open houses, finding a house I love and putting in an offer normally 20-50K over asking price. Yet I keep losing to people who have lower offers but have “firm” offers. My only condition is the acceptance from my bank, my agent attaches my pre-approval as documentation too. I’m starting to feel like I’ll never find a house. There’s always 8-10 offers and I lose every time. How do first time home buyers do it? submitted by /u/Bisk0106 [link] [comments] source https://www.reddit.com/r/RealEstate/comments/dbm567/first_time_home_buyer_getting_discouraged/

Hey Real Estate friends, Renter here and because of the following situation I am, with out a residence, I’ve been living in hotels for the week. Recently my realtor let me stay in an empty extra apartment, all of my stuff is in storage again and I’m losing sleep and work over this.... And I’m scare I may never get my money back, or only a measly portion... And granted with recently starting a new job (while being 27 and broke) and recently moved to from NJ to S.FL... And with an account dwindling down to zero... This 4K they are holding from me is practically all I have left until my next paycheck (so long as I’m not fired for being unable to preform during all of this). — — — So here’s the situation in short: — — — Black mold found. Condo unlivable. Owner won’t fix and we agreed to terminate the lease. I still have the keys. They have the money. How Do I get my money back. And what would you do if you were me? ——— Here’s what I could find in the lease in regards to terminat...

Hey everyone. I’m a first time home buyer buying new construction. The development is great but the schools are subpar. I’m curious as someone who may be putting up the home for rent or sale within 5 years (military) is this a death stroke? My thought process is the schools don’t bother me because my kids aren’t old enough but I think the future tenants or home buyers may frown upon it. There’s almost no other homes in our price range and no rental properties available. The most practical thing is to buy knowing that the schools aren’t the best. Advice?? submitted by /u/Banned-From-This-Sub [link] [comments] source https://www.reddit.com/r/RealEstate/comments/dbn4go/question_to_realities_renting_with_bad_schools/

So, I’ll receive my license in a month for CA, and I’ve been lucky enough to become a part of an amazing team already. I help them with other things aside from matters requiring a license, and I provide value where I see fit. I was recently invited to a meeting with my county’s board of realtors(we’re in the Bay) due to my broker, and I have the chance to possibly become the vice chair of their young professional’s network. That would mean I would become chair by 2021. Should I do this for business and connections? submitted by /u/poeticpolarbear [link] [comments] source https://www.reddit.com/r/RealEstate/comments/dbn2tt/what_would_you_do_new_to_the_business/

A friend of mine whole runs a video production company has agreed to make me a video as a gift. I have 2 hours of shooting. However, I don't know what to make the video about. Should I make it a lifestyle video, an educational video, something else? Realtors, if you had one free professionally produced video... What would you make it about? submitted by /u/blackmicrowave [link] [comments] source https://www.reddit.com/r/RealEstate/comments/dbmvvk/video_ideas/

First time home seller, just trying to make sure this is okay. We've had our closing set for 10/14, which is Columbus Day. Today, my realtor called and asked how I felt about still closing that day because the bank won't be open. The money would be released the next day. I asked if she saw any downside to this and she said no, so I agreed. Now I'm wondering if this was smart to sign over my home before getting paid??? Could this result in anything bad for me? The buyer isn't receiving the keys yet because we have a 7-day contingency after closing for me to vacate. TIA! submitted by /u/theDIYhomegirl [link] [comments] source https://www.reddit.com/r/RealEstate/comments/dbmmwp/closing_on_a_bank_holiday/

We are the homebuyer and we are concerned that our real estate agent isn’t getting commission on the sale. Nothing is signed, so there’s time to make changes. Apparently the seller wants to move out ASAP due to having a sick parent. It’s been on the market for 16 days, ok- so, barely any time. So they’ve freaked out and lowered the price already and to make up for it, they’re taking the commission from the listing agent and our agent. My husband and I are super uncomfortable with this. Our agent has worked hard. I text him at all hours of the day and he’s been super kind. He’s semi retired and he showed us this house knowing before hand, that he wouldn’t get commission. (We obviously had no clue). We love this house and we want to put the commission, at least for our agent, back into the contract. Can we do that? Can we do that with closing cost? We’re doing a special no down payment loan for “modest income” families. We qualify for a second mortgage that we don’t have to pay bac...

So sorry if this isn’t the appropriate place to post this. The basics of my situation is me and my boyfriend are considering buying a home together. I’m 20 and he’s 22 if that makes any difference and have a kid. He makes about twice as I do job wise which is what makes me almost want to think it would be a better idea if he was the name on everything? The other thing is that because I work with livestock I need property which is fine with everyone except that pretty penny attached to it. Anyways, pros and cons of getting married before looking more seriously into a house/property? Thanks! submitted by /u/mistyrulz [link] [comments] source https://www.reddit.com/r/RealEstate/comments/dbm07t/marriage_before_or_after_buying_a_house/

We are selling in a hot market in VA. We got several full price offers 2 days after our home hit the market. We picked the better offer and the buyer scheduled their inspection. The inspection came back with quite a few things which we expected for our price point and age of the house. The buyer started the repair negotiation with one large item they want and a credit for some smaller items. Ok great. So we come up with a counteroffer we want to present. We want to counter with the full credit they are asking for but no to the big repair, hoping we can meet in the middle. Our agent disagrees and is refusing to present our counteroffer. She keeps repeating we need to offer them everything they are asking for. We’ve been arguing about it with her for days. I just want to present my counteroffer and see where it goes but the agent is refusing to present it, repeating that we need to honor all of their requests. I’m honestly baffled and I don’t know what to do. This is a new agent who w...

As the title states, my wife rents an office, and the thermostat is broken, so it freezes the office over night but then turns off during the day and lets thw office overheat. This has happened at least 10 times in the past two months, and my wife has emailed, called, and texted the buulding manager with pictures of her digital thermometer showing 80-82F. He keeps delaying replacing it. What are her options? Location - Colorado Springs. CO Thanks. submitted by /u/yellowhorseNOT [link] [comments] source https://www.reddit.com/r/RealEstate/comments/dbkgz5/office_thermostat_broken_landlord_wont_replace/

submitted by /u/decentmoose [link] [comments] source https://www.reddit.com/r/RealEstate/comments/dbls92/tenant_usoh_received_report_regarding_my_deposit/

Hello! I’m deciding between two lenders for a refinance and one lender already ordered an appraisal for me. The other lender is aware that an appraiser has come to see my house already however they say they won’t accept the report. Is this common? submitted by /u/SwitchedAccount [link] [comments] source https://www.reddit.com/r/RealEstate/comments/dblnjf/nontransferable_appraisal/

Tl;dr: Parents owe money on house. House not worth quite as much as they owe. I want to buy it for more than they owe, so they can fix it up and sell for trending market value. Is this legal, what's the best way, and have you heard of this before? I'm going to use simplistic numbers for ease of math and to remain slightly anonymous. My parents owe $150,000 on their mortgage and they wish to sell their house now because the market is pretty high in our area and my father is ready to retire. The problem is, they have not taken great care of the house and it needs some MAJOR renovations, and their credit is terrible. I've been racking my brain about how we can make this work an I had an idea of buying the house from them for $185,000, then taking the profit to invest $35,000 into renovating the house. Then I would sell it myself for how much houses go for in this neighborhood, with this configuration, ($215,000) and giving them the profit made from the house to kick start...

Had a mold specialist come to the house. He found mold throughout the entire crawlspace under the house. Multiple colors, under the vapor barrier, under the insulation. Easily $4,000+ to remediate. Sellers spent a couple days getting estimates and I guess realized the cost. The had a termite guy (does not do mold, I checked), check out the crawl space and say the moisture percentage is okay so the mold is not an issue. Seller's refused to do anything about the mold, and I'm not buying a house with mold so sadly we are getting the papers together to sign and terminate the contract :( Back to square one. submitted by /u/HoundDogAwhoo [link] [comments] source https://www.reddit.com/r/RealEstate/comments/dbl4et/final_update_should_mold_always_be_treated/

Not sure if this is the right space, if not I apologize. This past spring my partner and I started renting a new house we found through a leasing agency. Wasn't ideal and the move in was a bit shaky but we got settled and everything seemed OK. A month or two later we got notified from the leasing agency that a city inspector would be by to inspect the property and asked if we could be on site. Not a big deal and when the inspector showed up I was helpful and showed everything he asked for. However, he did not pass the house which leads me to believe there is no certificate of occupancy for the site. Is it legal in Michigan to rent out a house without this? The house is certainly livable and the major issues were just bringing things up to code (the old electrical box is fused and doesn't have breakers, a few handrails, minor things overall). I don't want to pursue anything legally because I don't have time or money for it I just want to know if I should expect some ...

I'm wondering if I should take classes online or go to a college that offers real estate classes. submitted by /u/mariannatranch12 [link] [comments] source https://www.reddit.com/r/RealEstate/comments/dbbpaf/real_estate_classes/

I have been saving up for a FHA loan and want to put down 3.5%. The lending limit in my county is $881k (3.5% down-payment = $30,800). What should my goal savings number be? In theory, if I get that $30.8k saved could I buy a house with no more money down, or would I need much more for closing costs etc (can I include this in the loan). I imagine the more saved is better for interest rates. submitted by /u/NextRock [link] [comments] source https://www.reddit.com/r/RealEstate/comments/dbb5xr/fha_loan_down_payment_and_closing_costs_question/

Just closed on my second rental last week and was pumped about getting new appliances when my car was hit by the Best Buy delivery truck. (they arrived two hours late btw). The passenger in the truck knocked on my door and asked if the car outside was mine because they hit it. I walked outside to see the bumper almost torn off completely with additional damage to the front clip. I honesty wasn’t that mad, more so in shock because I just picked up the car less than a year ago. The strangest thing was that one of the drivers had the gall to joke about not getting a good rating on their survey now. To make matters worse, they only delivered 1 out of the 4 appliances and didn’t contact me to tell me they weren’t coming until I called them. The saddest part about the situation is that Best Buy really hasn’t shown any empathy or taken responsibility in any way. It seems like the customer care people have been trained to have no empathy. What would you do in response? Picture of my car ...

In 2004-2005 I had a rental home go into foreclosure. No big deal the bank just reclaimed the property. Fast forward to today. I received a letter in the mail stating that a mortgage company is requesting that I pay 15,000 for the property they purchased. I’m in Georgia and can’t find anything on this, any help on if I am obligated to pay it will be helpful. Thank you. Edit: Spelling submitted by /u/Cookie4prez [link] [comments] source https://www.reddit.com/r/RealEstate/comments/dbbiu0/mortgage_company_coming_for_payback/

I’m thinking of buying a house in late 2020, but I’m a little overwhelmed by all the choices. First, a little background. I am a 40-something single woman with no kids. I am looking for something in the $300-500 K range and to pay in cash. Looking for a 2bdrm (even one ok if nice), but must have a fenced yard. My priority is my dog(s) (have one now, looking to adopt 2 more). Other constraints are that my family owns rental properties (12 now)—condos in Mercer County, NJ (Hightstown); I want to stay somewhat close to central NJ, but not on the Northeast Corridor/near traffic lines going into NYC. I work online from home 7 days a week, so I have no work limitations as long as I have internet. I don’t want to be too far from my parents in central NJ either. I was wondering, for you homebuyers in the Tri-State area, is PA that much more of a deal if you don’t care about school districts? Ive heard property taxes are significantly less; traffic can be less in some counties, but I am not ...

TL;DR: Lot next to mine sold, and it has the same physical address as me. There isn't room (in the numbers) to add another address, so the town's solution is to renumber all the houses on my block. Longer Version: We bought our house 2ish years ago - from a person that owned our house and owned/lived in the house next door. She recut all the land to make a full lot in the middle - basically, there were two biggish lots, and now there are three small lots (.33, .33, .4). She sold her home about a year ago, and has been trying to sell the center lot. We wanted to buy it, but just couldn't make it work. It did sell. When it was sold the real estate listing was 105A, the land record is 103. We're 103 - and the next house down, on the other side lot, where the seller lived, is 105. I spoke to the person in the zoning/planning office about petitioning to get the number changed. She was very familiar with the lot - and when it was cut into a separate lot, she made a propo...

So I’m moving into an apartment and taking over someone’s lease. I’m taking the last two weeks of the month of October and the broker and requesting I pay the two week pro rated rent to the tenant and not the management company. I usually pay management in these cases so this is the first time I’m giving money directly to the tenant. Just didn’t know this was something that could happen since the last few times I had to do something similar and was in the tenant’s position I never got paid for the time I left early? In my mind if you leave early you eat the cost. submitted by /u/omentext [link] [comments] source https://www.reddit.com/r/RealEstate/comments/dbbgte/pay_pro_rateto_the_tenant/

I am currently in the process of buying my first rental property and should close the deal within the next two months. I don't have the most solid grasp on economics (how a recession would impact interest rates), and exactly how refinancing works and the different types of refinances, would that be a bad strategy? I wouldn't try to time the market bottoming out, hence the dollar cost averaging, and would sell out my positions once the market was back in the green. I haven't been able to find anything about this idea online except for in this forum: http://www.city-data.com/forum/investing/771714-cash-out-refi-invest-stock-market.html where this guys financial advisor suggested he do just this but his accountant thought it was too risky. The comments call his financial advisor incompetent but this was in 2009 and had he done that would've made easily doubled/tripled up his money. Thoughts? submitted by /u/skytrash69 [link] [comments] source https://www.redd...

Would I be better off with a 30 or 10 year fixed loan? I'm gonna try to NOT explain the family situation, but just keep it short and sweet. Let's say that a home is 250,000 Between me and my mother we have a down payment of 50,000$ 10 year fixed loan = $2,608.87 30 year fixed loan = $1,569.35 10 year fixed loan = $41,365.04 in total interest paid over the loan's duration 30 year fixed loan = $150,269.27 in total interest paid over the loan's duration So, if I take on a 30 year loan but pay as much each month as one would in a 10 year loan and basically pay off the mortgage in 10 years, I only end up paying the amount of interest that one would for a 10 year loan, correct? Or do I still end up paying more? Is it possible to only have the bare minimum in case my mother passed away so I can still handle the mortgage, but pay more so that I don't pay 150k in interest? submitted by /u/Spaghettalian [link] [comments] source https://www.reddit.com/r/Re...

Buying land to develop SFH in MA, USA. What's the checklist for due dilligence: a. Before submitting an offer the zoning of the land ... connection to public sewer .... HOA ... what else? b. After an offer is accepted ​ Thanks! submitted by /u/spearo [link] [comments] source https://www.reddit.com/r/RealEstate/comments/db6dgw/due_dilligence_for_buying_land_to_develop_a_sfh/

Hello all, Cross-posting from r/HomeImprovement because nobody was able to help. I'm interested in purchasing a new construction home; there is excessive spalling at the SE corner of the house that has partially exposed two of the shear wall holdowns (STHD14), and completely exposed a third STHD. The third STHD also looks to be improperly installed? (Completely vertical with the little spacer tab bent parallel.) The installation guide for this holdown (page 84) indicates that "STHD14 achieve[s] full load for spalls less than 4 [inches]." So that would suggest full loads apply for two of the STHDs, but they are both continuing to spall (you can see the cracks in the photos - concrete falls away if you touch them). And I don't know what to think about the third, vertically-installed STHD on the corner. Is this a cosmetic issue we could patch? Or a structural issue? submitted by /u/Ojja [link] [comments] source https://www.reddit.com/r/RealEstate/comme...

I'm going through my safe and doing some spring cleaning and came across a folder of documents from an old HELOC that I paid off last year. I've confirmed that the HELOC is actually closed, do I need to keep any of these old documents or can I shred them all? submitted by /u/halfanhalf [link] [comments] source https://www.reddit.com/r/RealEstate/comments/db67zu/documents_to_keep_after_paying_off_heloc/

Hey! I am currently considering two homes in a large/densely populated city. Home #1 is considerably cheaper but does not have a garage. It can be tough finding street parking so I may have to pay monthly in a local garage which costs 280$/mo. Home #2 is about 100K more expensive, but is in a much "nicer" part of town and also has an attached garage. If you work out the math, 280$ monthly works out to a 30 year mortgage 100.8K (280 x 12 x 30). So not having to pay for parking can help me afford a home 100K more expensive. I'm leaning toward going for Home #2. Is my logic flawed??? Your thoughts/criticisms would be appreciated. ​ Thanks! submitted by /u/idiotwithagum [link] [comments] source https://www.reddit.com/r/RealEstate/comments/db54tq/check_my_logic_factoring_in_the_cost_of_garage/

I’m looking to invest in a property on a tax lien list. I’m in NYC looking here and into surrounding NY counties. Anyone here with experience in these sales? submitted by /u/stevieboni [link] [comments] source https://www.reddit.com/r/RealEstate/comments/db5h28/lien_sales/

http://www.leaseholditalia.com/ submitted by /u/nihilistwriter [link] [comments] source https://www.reddit.com/r/RealEstate/comments/db584o/does_this_look_like_a_scam_to_you/

I read that the wife and I won’t have to pay taxes on capital gains if we’ve lived in our home for at least 2 of the last 5 years. We’ve been here for 8 years and want to refinance. Would this then reset the clock to where we would have to stay for at least 2 more years before selling to avoid paying taxes on any capital gains? Thanks for any information anyone can provide. submitted by /u/K61rsa [link] [comments] source https://www.reddit.com/r/RealEstate/comments/db4lxw/would_a_refinance_reset_the_clock_for_paying/

Title summarizes it. My realtor and local lender have really pulled through for me. Two other local lenders flat-out refused to help me on the second property at all . But the final numbers on both properties have come back, and I'm undecided on the second / investment property. I'm not comfortable being "undecided" on a house. It's an extra $10k hit in my bank account and it's coming with extra costs that keep creeping up, so I'm more likely than not to back out at this point. How do I politely pull out of the second, and is there any way I can show my appreciation? Because this was all at my command. I get that the realtor and lender work for me and I am their client, but I can't imagine the hassle everyone has been through trying to get both properties secured and financed for me up until this point. Personally, if I was either my realtor or lender, I might just fire me as a client 😂 submitted by /u/TheAdventMaster [link] [comments] ...

How can i sell a resort island without a middle man, what tools should i use to connect to potential buyers? Any help will be much appreciated. submitted by /u/assas10 [link] [comments] source https://www.reddit.com/r/RealEstate/comments/db3sxr/need_help_selling_my_own_island/

Basically I'm submitting my offer and my Redfin agent requested a picture of a check for my earnest money deposit made out to Red Fin. Is this normal? submitted by /u/HastroX [link] [comments] source https://www.reddit.com/r/RealEstate/comments/db3lgl/is_this_normal_buying_a_small_bank_owned/

As the title said. It is going to be our first house. We will deposit our reservation tomorrow and have a payment plan ($3000/month in 5 months) for the 5% deposit. The house is being built and it will be delivered to us in March next year. What could go wrong? What should we look for in the contract which allow us to walk away and get full deposit back when thing goes wrong? submitted by /u/anguyen1008 [link] [comments] source https://www.reddit.com/r/RealEstate/comments/db3hi7/we_are_going_to_sign_a_contract_to_buy_our_first/

I'm a first time home buyer still learning about the process. I am pre-approved and have seen a few open houses. I chatted up a few of the selling agents at the open houses and one or more seem like they would make a good buying agent. I had one of them set me up to get e-mails on homes entering the market. In deciding which agent to utilize as a buying agent, I did some research on home buying and selling protections. It seems the seller is well protected. However, I am unclear on the buyer protections. I understand a buyer and buying agent can enter a contract which usually requires the buyer to work solely with a single agent and requires the agent to act as a fiduciary to the buyer. However, this was noted as uncommon, and I wouldn't like being 'stuck' with one particular agent. I am leaning towards not entering any contract with a buying agent. My uncertainty is that I couldn't find any law stating that a buying agent must act in my interests without one of ...

In a hot market, when multiple offers quickly come to the table I, as a buyer, was often given the ultimatum of my "best and final" offer in the negotiation process. I'm in the Northern Chicagoland area and activity has slowed down, houses which I once thought would be gone in the first weekend are coming up on 100 days on the market (I'm by no means an expert and these are my casual observations). I'm looking to purchase a home in the next 2-3 months, would it be appropriate to turn the tables on the "best and final" and ask the sellers what their best and final is, say if I'm down to 3-4 homes that I'm interested in and at this point it would ultimately come down to price as all of them check my boxes. Has anyone ever had an experience with a situation like this? submitted by /u/Lostboy500 [link] [comments] source https://www.reddit.com/r/RealEstate/comments/db3bl2/turning_the_tables_on_best_and_final_offers/

Hello there! I've been a homeowner since 2010. This was my first home, but the time has come to move on and I'm actively looking in Maine. First though, some background to illustrate my choice of title. I bought this house at the age of 20 and had no one to model my behavior off of in the buying process, so I didn't really know what I was doing or what questions I should have been asking. Because of that, I had a really bad buying experience after my wife and I moved into the home and discovered the various....quirks it has. Basement floods when the seller said it didn't. House has..horse hair wiring insulation and knob & tube, mix of very old and new windows, etc. Thankfully this was a cheap lesson for us to learn, as we only paid $50k with 0% down. And learn it we did -- we will never again trust a Realtor or seller. That brings me to my question. If you were of my opinion, ie never trusting a Realtor or seller, how would you go about double checking everythi...

So here's the situation: Since July 2018, my girlfriend and I have been in the process of building a small 600 square foot house in Charlotte, NC. Unfortunately, the process has been met with multiple delays. Fast forward to the begining of the summer and the house is pretty much complete accept for a few things, one of them being getting the water connected. Since then, the developer has been telling me that the city has been backed up and the water connection keeps getting pushed back. So here's the kicker: I received a call last week from my mortgage company. It turns out that the application for the water to get connected never got submitted by the developer. Furthermore, the mortgage company has not been able to reach the developer at all. The consensus is that the developer has run out of money and is waiting on the final draw from the construction loan in the amount of $11,000 in order to pay the fee for the water to get connected which is $11,580. When I heard this ne...

Hey All - I'm still a "new" homeowner and i'm starting to think short term/long term with my investments vs. where I am in life. My girlfriend and I both purchased homes in June 2018. I've tried to read into the capital gains exemption, and how long a house must be owned, lived in etc., however I am a little confused. The reason for my question is that we plan to move forward with consolidating sometime in the near future, so the question applies to both of our homes. How long must I OWN my home to be capital gains exempt? How long must this home be my PRIMARY RESIDENCE? If I rent my home, do these time frames still stand true as I am still the "owner" of the property? Thanks! submitted by /u/TravRado1024 [link] [comments] source https://www.reddit.com/r/RealEstate/comments/dawmke/home_capital_gains_exemption/

First time home buyer looking for advice after home inspection found more issues than anticipated.   After two years of searching, we found a house that meets most of our needs and that we would be happy living in. There were 3 offers on the house and ours was accepted. (we went over the asking price, which is currently common in our region). We felt the homeowners took great care of their home and did not expect the amount if issues found.   The inspection found the following: - Mold on most basement joists. Basement does not feel humid so this was a surprise. An air exchanger was installed a few years back, so maybe the humidity issue was previously resolved and the homeowners aren't disclosing it? - Slightly sloping floors (inward) in top floor bedrooms, likely due to missing support post in basement. We suspect homeowners may have removed this post during basement renovations. - No pyrite, but test found that there is a 5.5inch gap between the garage slab and the g...

I’ve recently sold a 1927, 2 story, 3 bedroom, 1 bathroom house in Ohio for 90k, taking off about 2k off the original asking price. We are covering closing cost along with doing a home warranty which they requested. We are also spending roughly $700 in exterior painting per negotiated. Anyways, the couple used one of their father’s to do the home inspection. Apparently he found knob and tube wiring in the attic. They would like to put more installation in the attic, so they are asking us to eliminate the knob and tube in the attic. We got a quote and it came to $1850, which we were ok with. We negotiated that they would be responsible for any drywall damage. We disclosed that while some of the wiring was up to date downstairs such as the kitchen, other areas were not per the electrician. Now they want a second quote about how much it would be to replace all the knob and tube in the house which just isn’t realistic. Plus I have to take time out of my schedule. The amount in escrow is...

My landlord is selling the home I’m in (this is Canada) and there have been a lot of booked viewings. I have to vacate for these, so it’s meant about 2-3 hours a day I’m having to leave for people to view the place. It’s to a point now that the realtor is giving me 2 hours of notice before a booking, which makes things difficult. Do I have any rights in this situation? Am I owed any rent in return? I feel like I’m not living here anymore due to how everything needs to be spotless at any given moment. submitted by /u/peeweeharmani [link] [comments] source https://www.reddit.com/r/RealEstate/comments/dawbei/tenant_rights_when_selling_home_vacating_for/

In the middle of purchasing a house with a VA loan which requires a VA appraisal. My understanding is that the appraiser writes their report and submits it to our lender and us. What’s happening that has me concerned is that the seller’s realtor and the VA appraiser (paid by me) have agreed to share the info and submit fixes before she files her report to avoid having to do another appraisal if fixes are required. This seemed very backwards and unethical as I will not know if any fixes were required if they’re not in the appraisers submitted report. Is this business as usual or should I be worried? Also this is coming off the heels of the sellers taking no action on any of the contractually agreed upon fixes found during the regular home inspection done 30 days ago (septic replacement, wiring issues, water abatement) even though closing is in 11 days. They have work lined up but no start or completion dates set. submitted by /u/JPLionFighter [link] [comments] source htt...

I’m switching careers. Has anyone ever gone from insurance to real estate. How has the transition been. I’ve heard the test is a hell of a lot harder! From Texas submitted by /u/liv4s [link] [comments] source https://www.reddit.com/r/RealEstate/comments/davq79/nyl_insurance_agent/

Is there any disadvantage to buying a property that the county appraises for $100k but is listed for $400k? I find it pretty common that the county appraisal is different from market appraisal, but quite frankly.....why? I'm wondering if there is a "warning level" to where market value vs county value is too far out of line and should signal warning to a potential value. Does anyone have a general rule of thumb for this or should I stop looking at county appraised values. submitted by /u/_The_Judge [link] [comments] source https://www.reddit.com/r/RealEstate/comments/daumge/county_assessed_value_vs_appraised_value/

If I decide to buy a new construction home can you typically negotiate pricing? Ask for free upgrades, etc? Ive bought new construction before and the realtor did nothing besides sit at the desk with me while I spoke with the builder and sign the papers yet got paid a few thousand. If I don't use a realtor and so the builder gets to keep more money are they more willing to negotiate? submitted by /u/Gimme_All_Da_Tendies [link] [comments] source https://www.reddit.com/r/RealEstate/comments/dauucr/can_you_negotiate_new_construction/

I am located in an area of California where it’s nearly impossible to find a home under $650,000 and most are way way over that. Considering it’s a nice area, am I shooting myself in the foot showing homes in a 5 year old Subaru? I can afford a nicer car but am wondering what more experienced agents have found. Thanks in advance! submitted by /u/sparkydutch21 [link] [comments] source https://www.reddit.com/r/RealEstate/comments/daqld2/just_getting_into_real_estate_and_drive_a_5_year/

Any good advice from fellow buyers or sellers will be appreciated. We are selling our house contingent upon us finding a home of choice. We will probably enter into a contract soon with a buyer but the pressure is now on us to find another house since we just lost our bid to our original home of choice. We are also looking into a very specific area. We need the proceeds from the sale of our house to use as a downpayment for the purchase of a new home so our offer to buy also has a contingency of closing the sale of our home. I’ve heard that this is a common occurrence. But we are so new to the process, and although our realtor is awesome, and doing a door to door marketing campaign in the targeted area,we still feel a little scared. Thoughts? submitted by /u/aquadove [link] [comments] source https://www.reddit.com/r/RealEstate/comments/darxil/first_time_selling_and_buying_with_contingency/

I have never bought a house before, and I really don't know where to start. I have saved for a down payment for a long time, and now it's a total sellers market here in Spokane, WA. Houses are selling for 10-20k more than asking price hours after they're listed. It's difficult to find anything, but I might get lucky - and get an offer accepted if I offer more than asking. But here is my dilema.. I'm afraid the market is going to crash, we're going to get a recession, something, and wonder if I should wait. It can't be a sellers market forever, how long could this possibly go on? Would it be worth to wait a year or two, and keep savings, or would my savings just be worth less in the long run? Any advice? submitted by /u/Sweetenedanxiety [link] [comments] source https://www.reddit.com/r/RealEstate/comments/daqz54/sellers_market_should_i_buy_or_wait_spokane_wa/

There are at least two agencies that I see ads from all the time in my area that say if your house doesn't sell in a period of time you agree to, they will buy it. How real is that guarantee? Anyone have any experience with it? submitted by /u/lv4myw [link] [comments] source https://www.reddit.com/r/RealEstate/comments/daqh4w/how_real_are_the_advertisements_from_agents_who/

So i’m looking to purchase a unit in a fiveplex to rent out, and there is an option to choose a unit with a main floor bedroom and full bath for 10k extra. This would mean 4 bedrooms instead of 3 in the cheaper unit. Is this addition worth it? The square footage of the units are the same. submitted by /u/russell_flexbrook [link] [comments] source https://www.reddit.com/r/RealEstate/comments/daqcj2/an_extra_10k_adds_a_denbedroom_and_a_full/

We're just starting the process of buying our next home. Is there a way to search for specific terms on a realtor.com or Zillow site... For example I want to see properties where the term "workshop" or "in-law suite" is included. Is there a way to do what I'm asking? Like a Google that goes through multiple property listings in my set map area? submitted by /u/tbw212 [link] [comments] source https://www.reddit.com/r/RealEstate/comments/daqak2/how_to_search_for_specific_terms_in_listings_such/

Hey guys. I've already scouted out a few properties that I very well likely may buy. I've done a lot of research on them on my own but I do not have a buyer's agent. Do I need one? How do I get one? Do I just walk into a real estate office and say hey I already know some properties I want to buy but I need somebody to represent me? Do I want to event tour one of these properties that I have my eye on unless I have my buyer's agent with me? I would understand if I hadn't found any properties that I liked yet since they could you know.. make phone calls and contact people for me... but I already know some properties that I'd like. Thank you! submitted by /u/mapledog123 [link] [comments] source https://www.reddit.com/r/RealEstate/comments/daq9qx/buying_my_first_house_buyers_agent_question/

We bought our house almost a year ago and are in the process of refinancing with the same lender. Appraisal inspection occurred, but a week later and no news from my lender. Today the appraiser calls me out of the blue asking how much money I thought we had put into the house for renovations. He didnt want to talk much, but after some pressing he admitted that he was running into pushback from my lender around the appraised value of the home. He supposedly appraised the property nearly 150k over the price we bought it for a year ago and I guess that raised red flags by my lender. They were now pushing back on the value and asking for additional details. Has anyone had this happen before? Is there a chance the lender will try to force the appraiser to lower the value? Trying to wrap my head around what might happen, why the lender would be so antsy around this, and what I might want to do to fight back if they undervalue for some reason. Seems a really odd situation to be in... ...

Is this considered normal practice? I'd like to be protected from the project taking weeks and weeks and causing me to miss out on rent (especially with winter approaching). The scope of the work is laminate flooring, drywall, framing, and some new doors. The contractor has verbally quoted approximately 1 week of work. Can I ask for this stipulation? If so, what would be acceptable terms for me to ask for? This may be better to xpost on /r/AmItheAsshole . Just kidding. Thank you. submitted by /u/mrfreshmint [link] [comments] source https://www.reddit.com/r/RealEstate/comments/daphel/working_with_a_new_contractor_is_it_okay_to_ask/

Hey Guys! I just started working with my real estate mentor, Kris Krohn, who is helping me find potential properties to rent/lease as my first investment. I am really excited to finally get in the game of real estate investing! Does partnering on real estate deals interest any of you at all? If you love real estate investing give me an email and I can provide more information about potentially partnering if you are as passionate about real estate as I am! Reach me at: aletbusiness@gmail.com submitted by /u/turbowd [link] [comments] source https://www.reddit.com/r/RealEstate/comments/daoro9/first_investment_property/

I posted this in r/tax as well. But can someone help me. A bit of a backstory. I have never filled out the Form 1099-S Proceeds From Real Estate Transactions before. My boss is an attorney and told me to fill it out for a closing that was done for a condominium. My boss represented the purchasers who a couple who purchased the condominium from a one person. The condominium was purchased for less than $250,000. From my understanding the Transferor's, the Seller, Attorney should be the person who was supposed to fill out the Form 1099-S, because from my understanding if there is no settlement agent present during the closing, the Transferor's Attorney is to fill the 1099-S. However, we asked the Transferor's Attorney numerous times to provide to us the 1099-S, but the Attorney did not. My boss decided to that our office would fill it out instead and asked me to fill it out. I was looking at the 1099-S online. I see that on the IRS website there is a downloadable 1099-S F...

Hey all, approaching the end of an option period buying a home near Dallas Texas. The plan is to move into the house and live in it for 1 year, fix it up, and then move out and rent it with the goal of keeping it as a long term investment (20+ years). Description: Its a small, 1 story, 1200 sq/ft 3 bed 2 bath home from 1961. Fully updated with builder's grade we expect to be worth $200K. Cons: The house is move in ready but very old, nearly everything in the home is outdated (carpet, appliances, paint, etc) but they all work. Also the foundation has issues but mostly under warranty and we are negotiating on extra costs with the seller to re-mediate. There are old cracks on many of the interior dry walls from historic foundation issues that need repair. We expect some electrical and plumbing updates are needed but awaiting additional inspections (everything works but might not be up to date/code - plumbing does looks to be pvc). Pros: The plus side is that the roof is being ...

I am so sorry if this has been asked a million times. But I am wondering what your opinions are on the Southern California market. I was born and raised in Southern California. I’ve traveled all over the world and I am confident in saying this live in the best place in the world. I love my city, but I am terrified that I am being priced out. 2 years ago, houses in my neighborhood were going for 320k. Those same houses are now selling for over 500k. I’ve personally seen property values rise 20k over the last 4 months in my city, and it just continues to climb. Every time I seem to save up enough for a down payment, the bar has grown higher and I need more money. It’s a never ending race that I am always 2 steps behind. Now, I’ve spoken to numerous people about this. Real estate agents, financial advisors, real estate investors. All kinds of people, and from what I can gather. No one can agree on what is going on. Half the people I talk to tell me to wait. That we are in a housing b...

I am in the market for a new home. So based on what research I have done, and the current political landscape, is this a good time to buy? Please correct me if I am wrong. Please explain why you disagree. Trade war with China Fed has been lower interest rate for quite some time. Presidential impeachment process started The above 3 points are my biggest concern of buying a property now. At any moment the market can get worse much quicker. Fed lowering interest rate is not a good sign because that mean they are trying to stimulate credit lending. The reason they are stimulating it is because credit lending has been slowed down. Probably due to trade war with China. The stock market has definitely taken a hit. Personally I'm not old enough to understand the consequences of how a Presidential impeaching would have on the real estate sector. But to me, impeaching a President is never a good thing for a country. I personally feel like this is a good time to sell your prop...

Young 18 year old with no knowledge whatsoever but I wanted to start exploring the idea of real estate investing. Any books you recommend? submitted by /u/leoconsumi [link] [comments] source https://www.reddit.com/r/RealEstate/comments/dakfja/how_can_i_learn_about_real_estate_investing/

Im looking to make my first real estate investment soon (just a goal I made for myself). But I'm confused as to which cities to pick and how to pick. I'm looking for good neighborhood with appreciation potential, with flexible expectations on free cash flow. The Cities I know that have good job market are already priced out for investment. And when I'm looking for data points that might point at a growth story, they all give different cities So my question is, if you were to pick ONE less risky property with good appreciation, 5 yr timeline, what cities would you be looking at? Also what's the reason or data points? submitted by /u/myReddltId [link] [comments] source https://www.reddit.com/r/RealEstate/comments/daj8an/city_and_datapoints_recommendation_for_first_time/

I will be finishing my undergrad degree in marketing this semester and I was interested in getting a job in real estate. The jobs that interested me the most were doing appraisals or inspections. It seems that most inspectors have a construction background which I don't have. I also don't have any real estate experience but am willing to learn. Would it be a good idea to pursue these jobs with no relevant experience? Would you recommend any other real estate jobs for someone with no experience? submitted by /u/jkleiner12 [link] [comments] source https://www.reddit.com/r/RealEstate/comments/daivzf/career_in_appraisals_or_inspections/

I don't mind signing a broker/buyer contract with a realtor - but the time terms on this one surprised me. The end date is listed as June 2020 with an extra 180 days tacked on the end at 2.7%. That just makes me not want to do it although she comes highly recommended. submitted by /u/bladsham [link] [comments] source https://www.reddit.com/r/RealEstate/comments/daheg3/realtor_wants_me_to_sign_15mo_contract/

submitted by /u/DesperateForHelp0000 [link] [comments] source https://www.reddit.com/r/RealEstate/comments/daefts/new_home_buyer_and_just_had_inspection_done_how/

I have access to use a rental AMCE listings how do I go about advertising these rentals? Can I used Craigslist and post them on my Zillow etc? submitted by /u/Periolism4 [link] [comments] source https://www.reddit.com/r/RealEstate/comments/dahrbr/hey_everyone/

After a long time of searching, my spouse and I finally found a great home and had our offer accepted. It is not contingent on the sale of our condo. Our condo association is only 8 units and when one of the owners heard mine would be going on the market very soon, reached out to someone that has expressed interest in our units. She same - looked - loved. Made a full asking price offer and wants to do it without agents... She also wants a 30 day close (we don’t close on new home for 40 days now) but is cool with us setting a vacate date after our close. She doesn’t think she even wants an inspection. She did mention that she is preapproved - indicating there is financing involved. She is going to have an attorney draft an agreement for me to review... She asked if I was open to using the same attorney to which I said I would certainly have another attorney look at the agreement on my behalf. What concerns should I have? What should I look for? What is the savings between using just ...

Has anyone ever used the home advantage program when buying or selling a house? My credit union offers this service to get a rebate on closing costs, but there are only a handful of realtors to choose from. Is it worth it? Or do the savings offset fees/costs of a different realtor ? I have friends that are highly qualified realtors I could use but these savings are tempting. Thoughts ? Thanks submitted by /u/philsphan26 [link] [comments] source https://www.reddit.com/r/RealEstate/comments/dafu86/home_advantage_program/

Can you guys give an objective opinion on what this home may have sold for based on the current market/location/size? I'm so curious if it went for under, over, or right on asking price. Wondering what real estate gurus in this sub think submitted by /u/SoSuccessful [link] [comments] source https://www.reddit.com/r/RealEstate/comments/dacn7l/any_norcalsacramento_peeps_can_give_some_insight/

submitted by /u/Cubenels [link] [comments] source https://www.reddit.com/r/RealEstate/comments/dacccp/hey_guys_im_considering_becoming_a_real_estate/

Home is 179,900 in a country setting. This home has been on and off the market since 2011. It needs a significant amount of repairs due to some structural damage, new flooring in one room due to mold underneath, etc. It could cost around 30k. It's in a flood zone. We offered 120k initially and was denied lol. We came back with 140k paying half the closing costs, etc. They hit back for 179k paying all closing costs. We hit back with 155k. Then they hit back with 178k. People say the bank doesn't negotiate and I suppose that is true based on this experience. What should we do next? The highest we wanted to go was 160k/maybe 165k. It is a beautiful and large home great for our family. We were willing to put in the legwork to get it up and running again. We really felt like this was the one... submitted by /u/kittystrudel [link] [comments] source https://www.reddit.com/r/RealEstate/comments/dacby0/reo_foreclosure_negotiating_with_the_bank/