How do I filter out co-ops for my rental property search? submitted by /u/yodawashere [link] [comments] source https://www.reddit.com/r/RealEstate/comments/e4czlu/if_i_dont_have_access_to_the_mls_what_is_the_best/

What is the difference between Original Price and List Price? I generated a Sold Price Analysis which shows the relationship between the Original Price, List Price, and Sale Price. My understanding is that Original Price is the price for the property when it first became listed on the MLS. Is List Price the final list price after the last price adjustment has been made? Agh, please help this noob agent! ​ Example: 10/17/2019 Orig Price $1,768,888 10/17/2019 List Price $ 1,868,800 11/30/2019 Sale Price $1,860,000 I interpreted this as... The home was first listed at $1,768,888. After X amount of price adjustments, the home was finally listed at $1,878,800. The home actually sold for $1,860,000 after further negotiations? submitted by /u/Whimsicalpopsicle [link] [comments] source https://www.reddit.com/r/RealEstate/comments/e4cy24/what_is_the_difference/

How much is it? For the price of $87,000 what should be my offer? submitted by /u/ipurple7 [link] [comments] source https://www.reddit.com/r/RealEstate/comments/e4apny/how_much_is_the_negotiation_roompercentage_wise/

There’s a couple more questions I have regarding my current situation but I’ll start with this one. My dad has owned our house since 1992 I believe or 90, I forget and as of now owes a bit under $6.5k to finish paying it off. Me and my sister have been helping him pay it off for the past year since he’s fallen into hard times financially, now we have often discussed the prospects of selling the house and he personally told me he’d much rather put the house to my name, and do as I want with it, if sold, we’d split off the money between me, my dad, sister(though she’s said she’s not interested in, but I fail to believe will end up being true) and I imagine my mom as well (they’re separated, but in okay terms). Now when my dad financed the house he had my aunts husband (not 100% sure if ever married but I’m assuming) co sign with him. Fast forward 25+ years, my uncle fled back to Mexico after he got caught up in some stuff, no one knows where he went, but safe to say he’s long gone fro

My clients after being showed a few older homes decided on a new construction in a builders new community . Being i was a buyers agent in this transaction , they didn't need much help in getting under contract with this home. My question for you is what do I need to do until it closes.. Ive spoken to my mentor and he says stop by weekly and talk with the salesperson.. Anything else I should be doing?? submitted by /u/peidey18 [link] [comments] source https://www.reddit.com/r/RealEstate/comments/e49kfo/first_closing_on_new_construction/

I need to vent and I think this is where it's most appropriate. I also posted to personal finance. My husband and I love to travel and adventure. We strive to be debt free ASAP. We currently rent, and we decided renting is basically just paying someone else's mortgage. We work a lot, and the idea of home maintenance/homeowner responsibility was intimidating and stressful, so we decided on buying an affordable condo in a small city about 10 minutes away from where we are now. It's cheap, and we can travel and adventure while working on paying something off QUICKLY. The property is also rentable. I assume we should pay it off within about 10 years. I've told a few friends and family members. Some are excited, but I'm appalled at how many bad responses we're getting. I've heard everything from "I just can't imagine you being happy in a condo" to "I can't believe you're moving to a CITY." It's very discouraging to know peop

Thoughts? submitted by /u/jimmy2465 [link] [comments] source https://www.reddit.com/r/RealEstate/comments/e496tv/buying_compucram_to_study_for_my_real_estate_test/

Is that a bad sign...or is it more common than I think? Should I get some other agent or...? He said inspection etc will be done of course and that will be on the offer itself... submitted by /u/ipurple7 [link] [comments] source https://www.reddit.com/r/RealEstate/comments/e48kqc/real_estate_agentbuyer_says_you_can_go_have_a/

Long Back Story Bear with me: Presently we live in the state of Ohio. We acquired our mortgage in 2016. We began our search looking for low cost homes that we could easily afford, but our realtor at the time assure us that with a USDA loan we could get a nice home and an affordable payment. We found a home that was on the market for 124k, which was just at the high end of our price range. However, after speaking with our credit union who had issues our pre-approval letter she came to us and said they wanted over $8k for closing and that she had never had a client asked to pay so much. She assured us that a man she had worked with previously was great at getting homes financed and paying less at closing. This man had us write letters about our finances and previous credit issues, paying off even the smallest of debts, and even securing a letter from our landlord at the time. We asked him if he was certain this was going to be ok because it seemed like a lot of work just to get anyone

We know the buyers real estate agent’s commission also depends on the sale price (2-3%)...in this case , wouldn’t the agent have his best interest in helping buy the property for the HIGHEST price Possible...while at the same time making it seem like he’s trying his best? submitted by /u/ipurple7 [link] [comments] source https://www.reddit.com/r/RealEstate/comments/e48chk/buyers_real_estate_agent_how_can_he_be_motivated/

We are closing a new construction with pulte in chicago and looking for a home inspector. - advice on when to get the home inspected- before closing or at the 11 month mark before 1 year builder warranty expires? - Anyone here has any suggestions for a good/reliable home inspector? submitted by /u/VK2317 [link] [comments] source https://www.reddit.com/r/RealEstate/comments/e47hka/how_to_find_a_home_inspector_for_new_construction/

Hi. There is a house I'm interested in buying. The seller started construction then stopped, closed up what they were doing and put the house on the market. But the loan recorded they currently have is about 125k more than the list price. Are the sellers going to have to come to closing with 125k, can it be an undisclosed short sale, etc? Again, very new to the understanding of a construction loan. submitted by /u/awakeningat40 [link] [comments] source https://www.reddit.com/r/RealEstate/comments/e475ax/construction_loan_mortgage_question/

I just had a huge life realignment, and it’s flipped my plans! I have been blessed with a great career and will be moving to a more Northern city in Ca. So here’s my dilemma: I have been studying the market I’ll be moving into for several months now, and it’s been extremely high. It has slowed down recently and I’m finally seeing some potential homes I can house hack into. One particular property that I have been keeping an eye on has been on the market for 3 months and it has two properties on one lot. The front home (2 bed/ 1 bath 1000 sq. Ft), and the back home (3 bed/ 2 bath 1000 sq. Ft). The front was built in 1940, while the back home was built in 2005. I’m going to talk to the agent soon and want a good series of questions to ask him about the home. It’s also listed as a single family, but has two homes on one lot. What should I look out for? Besides calling the building department to make sure the home was built legally, is there any any other questions I should ask? Al

I am hoping this is the right community to ask this. I Am closing on the sale of my townhome in a few weeks. The accepted offer was at the end of October, so they have already signed off on the CIC documents. My association has recently (today) notified residents of a dues increase beginning Jan 1. Does this information count as material facts? Do i need to disclose this to the buyer? My realtor is also unsure as this seems like a grey area, i am hoping some one here has experience with this. submitted by /u/Frerf [link] [comments] source https://www.reddit.com/r/RealEstate/comments/e46ce0/wondering_if_i_have_to_disclose_hoa_dues_increase/

I’m hoping someone on here might be able to help me. A relative wants to sell his home (mortgaged) to his daughter for about $100k below market value. (But still satisfying the mortgage balance on the house.) His daughter will have to take out a new mortgage on the house, and she has about a 25% down payment, if that matters. My question is, is there any issue (legally, with her bank or otherwise) with purchasing a home significantly below market value? submitted by /u/pretzelprincess79 [link] [comments] source https://www.reddit.com/r/RealEstate/comments/e467n7/selling_to_family_member_below_market_value/

Key Facts: Current Mortgage Total Cash Outflow is $1846 30yr @ 5.625% P&I is $1,404.60 HOA is $220/mo Taxes $222/mo Rental Income is $1850 In late 2007 my wife and I got married and bought our primary home (perfect timing to buy a place /s!). It's a 4/2 Condo in Miami. Surely enough it went underwater by ~50%, but being the responsible people that we are we held on to it and property values now in 2019 mean that we have a little bit of equity ~70-75 LTV. We moved out of that property in 2011 and have rented it out ever since, and just recently we became cash flow neutral (enough to cover P&I , Taxes, and HOA). I'm thinking of refinancing it, but I have doubts about going to a 20 year or a 30 year. Surely, the 30yr is more attractive since it would generate an extra ~$366/mo in cash flow. Refinance offers 30yr at 4.5% a bit high due to 1)investment condo and 2) Miami this would generate about $366 extra in monthly CF 20yr at 4.25% this would generate a

Most likely just going to keep trashing them! submitted by /u/redditsenioradmin [link] [comments] source https://www.reddit.com/r/RealEstate/comments/e40g7b/i_purchased_my_first_home_in_march_using_a_va/

Put in a counter offer on Thursday (Thanksgiving) & have yet to respond (Saturday). What is the latest they could respond? Would today be the last day or Sunday? submitted by /u/clyson [link] [comments] source https://www.reddit.com/r/RealEstate/comments/e4138o/for_someone_to_accept_or_decline_a_counter_offer/

Hello! I am working on getting my real estate license this month, but had a question about expiration. I know in PA they expire every even year by May 31, so if I were to get my license Dec 2019 or Jan 2020, would that mean it is still going to expire in May 2020 even if I've only had it for a few months, or would it expire for the first time in 2022. Thanks for the help guys. submitted by /u/imjjang [link] [comments] source https://www.reddit.com/r/RealEstate/comments/e41hhe/pa_real_estate_license_expiration_question/

Current situation: 7/1 ARM 3.625% (until 2025) $205/month mortgage insurance Remaining balance - $325K Best shopped for refinance rate so far: 30 year fixed 3.875% $1200 closing cost $65/month mortgage insurance $385k appraisal assumption (loan would be for 328k) This is a primary residence condo. It's hard to say how long I plan to live here probably a couple more years and then would ideally like to rent it out instead of selling. Looking forward to hearing some opinions, thanks! submitted by /u/lifeisandroid [link] [comments] source https://www.reddit.com/r/RealEstate/comments/e41950/should_i_refinance/

Looking at buying a new build in a gated community. This will be be higher end homes in the area around 420k but not the nicest house in the neighborhood approach 700k+. The community has several parks and pool and gym. It is near the mountains as well and close to core of city. However, there are homes around the area that have been there for awhile. There are other developments and shopping being built. Should I be worried about resale if we decide to move or are we getting in early and it’s a good investment? Thanks for the advice! Community : https://www.maracayhomes.com/community/avance/ submitted by /u/jms9993 [link] [comments] source https://www.reddit.com/r/RealEstate/comments/e40pp1/gated_community_in_developing_area_good_or_bad/

Currently renting but I am living in the Seattle area. The market here is very high compared to the Us relatively. I am looking to purchase my first condo and stop letting my rent go out of the door. I want to also get into rentals but I’m having trouble deciding between the two options I see below given I can afford around a 400-450k home. Option 1 Buy two condos in an Renton, WA (not the best area) for 200k each. Live in one of the condos and rent the other and try to pay them down as fast as possible. Option 2 Buy one condo in a really good area Bellevue/Redmond,WA for 400k and live in it as my primary residence, then try to pay it down as fast as possible to purchase a rental later. Would be great to get feedback on which option I should take from you all. Thanks submitted by /u/genchigenchi [link] [comments] source https://www.reddit.com/r/RealEstate/comments/e400gf/buy_2_condos_for_200k_each_and_rent_one_or_buy_1/

Home prices are expensive in my area (CA) and we are still not sure where to settle down yet. Would anyone recommend rent to own? submitted by /u/acidburn3006 [link] [comments] source https://www.reddit.com/r/RealEstate/comments/e3zgrt/rent_to_own_experiences/

I have three siblings and my dad owns 4 houses. When he passes away, he plans on giving each of us a house. One house is of lower value, 2 are about the same, and one is higher. The way he has it laid out, I will be getting the high-value house. We (the siblings) will need to make equalization payments to each other to make the amount that we inherit the same. My question is, will I be able to somehow qualify for a loan of approx $600k with an income of ~$70k The house is paid off and the current value is approx $2,222.414. We live it the San Francisco Bay Area if that makes any difference. Thanks for any input! submitted by /u/Solarcaine34 [link] [comments] source https://www.reddit.com/r/RealEstate/comments/e3rypf/will_i_be_able_to_get_a_loan_on_a_home_i_will/

Basically as title says, I'm looking to see what's the difference between a lender's title insurance and owners. On the closing costs worksheet it seems owners title insurance was optional, but do I really need it if there is the lender's already? If something was wrong with the title, wouldn't the lender cover it/ find out about it anyways? submitted by /u/HastroX [link] [comments] source https://www.reddit.com/r/RealEstate/comments/e3vmjj/whats_the_difference_between_lenders_title/

Is it a straight up tax or do they get it back somehow. A straight up tax would most probably make it a bad investment. submitted by /u/Firm_Salamander [link] [comments] source https://www.reddit.com/r/RealEstate/comments/e3uqbg/whats_the_deal_with_the_15_withholding_of_sales/

Hello, I'm in a complex situation with a management company I'm contracted with and I'm fairly certain are lying to me about listing a unit of mine for rent as they are highly inept and have shown massively unethical business practices. They claim it's been listed on "You Got Listings". I don't believe that the unit is listed at all, but cannot verify this as I don't have access to this site/service. I'm in a situation where they have a legal duty to list this property. I can explain further in a dm if necessary and provide the address of the property. Would anyone be able to verify whether my property is actually listed if they have access to this site? I would only request a screenshot (with all possible personal identifiers of yours redacted) and wouldn't identify you at all if you were able to provide me with this help. Thanks for reading. submitted by /u/janetandeliot [link] [comments] source https://www.reddit.com/r/RealEst

l, Hope you are well. I'm looking for best ways to utilize my parents real estate basement and few flats. FYI two flats will convert to airbnB houses as its profitable in my area. However there is like a 100m2 of basement space thats completely not being used. I probably could utilize anywhere from 30 to 50m2 for a business/lending services. Except ive got no clue how to find such a niche. F.e. a dentistry office is too expensive for hygiene requirements. Storage - don't think its profitablr enough. Massage parlour - maybe? Beauty salon - uncertain. Hotdesks? - there are windows but Im sur hotdesks need more sunlight. Hostel - too loud not enough space I presume. The property has its own yard and its located in the city centre, based in east/north europe seconf largest city approx 300-400k population with a growing economy everyday(IT sector particularly). Any idea...? I will.be taking a loan for such thing between 20-40k. Labour and parts is still at reasonable price.

I’ve been looking for a while - with an agent for less than two weeks. We much have seen 15 places and I found one I loved. Made an offer - the seller went with someone who placed an earlier bid. I’m back to looking and sent the agent a list of 10-12 places I want to look at. They told me it’s ‘too many and to pick five’ - I think that’s bullshit. I’m obviously not going to buy something just because I’ve seen it and will gladly switch agents, but I guess I’m seeking validation that I’m not being a crazy person & trying to find out what the norm is. I’m also doing all the homework and finding listings in my own (tying this out also is making me realize maybe this guy sucks) submitted by /u/festiveanarchy [link] [comments] source https://www.reddit.com/r/RealEstate/comments/e3t56u/how_many_places_did_you_look_at_before_finding/

I make 50k at 27yo with no children and hoping to make more come new year credit is 594 for now as i have to pay off $500 in a old medical bill..how do i go about finding how much home i can afford and also where to look if i want a specific price range (100-170k) in my area or surrounding cities...i know credit is bad but thats literally my only debt evee so it should improve quickly once payed....also looking to use the FHA and Tn first time buyers downpayment assistance submitted by /u/bigtreetron [link] [comments] source https://www.reddit.com/r/RealEstate/comments/e3t82h/tn_how_do_you_begin_a_search_for_homes_to_purchase/

Hi, I currently live in a 2 bedroom, 1 bath apartment with my mom and brother. The house down the street just went on sale about 1 week ago or so for ~150K $ and is a 2 bed 2 bath home. The estimated monthly payment is said to be ~575$, which is on par with what we pay rent for now. Even though the outside is a bit so-so, the inside of the home looks remodeled and its a lot of open land. We think it would be worth it to give it a shot, but unsure what else we need to think about... this would be the first time I would be owning a home. And it wouldn’t be a “forever” home... but at least we would be paying towards owning something. Would this be stupid? I’m soon to have a fixed income starting January, which is also a plus. Any sort of advice would help. Just wanted second opinions. Thank you. submitted by /u/UhcakiP5 [link] [comments] source https://www.reddit.com/r/RealEstate/comments/e3ssfd/interested_in_buying_150k_home_in_las_vegas_nv/

Pros: No need of down payment Cons: Makes you pay interest However, my lender suggested that by rolling closing costs into mortgage, my purchase price will be bumped by x+closing costs. Now, is this a good sign for me down the road? If i want to sell my house similar to my neighbor, i might need to put an ad for higher price since my purchase price went higher. Is this a good idea to pursue? Any other downsides? submitted by /u/iluvapple [link] [comments] source https://www.reddit.com/r/RealEstate/comments/e3sqvk/rolling_closing_costs_to_mortgage_pros_and_cons/

We are moving to a tiny coastal town, from the market you can see that it’s normal houses are on the market for over a year. The house we want is no exception. It’s been on about 18 months, was originally listed it $795k > $780k > $765k > $750k. We have offered $710k. He came back with $735k - our real estate agent said he’s almost certainly not going to budge and it’s still a good price, but I think I should negotiate lower, no? We don’t want to go higher that 725k (bare in mind it’s only had 2 offers this entire time.). What should I do? submitted by /u/kicksjoysharkness [link] [comments] source https://www.reddit.com/r/RealEstate/comments/e3qkhf/first_time_buyer_and_struggling_with_what_to_do/

Hey guys i'm looking into real estate and researching all the different strategies and ways people make money. I'm preparing to become an investor once i'm 18 and I can find a good deal. It seems evident to me that I need to find people in my local area who can help me learn In other words Mentors. I plan on attending my local monthly meetup starting wednesday. Does anybody have any ideas on how you can be useful to a seasoned investor who you could learn from. This is what has entered my mind so far. 1 Offer to take phone calls from tenants of a few units and give notices of certain things acting as property manager LITE,2 Offer myself as a labor hand removing trash from a rehab getting supplies from a hardware store like lowes,3 Send them deals or try to find some to forward to them. I'll ask some people what I can do at the meetup what I can do for them. What are your ideas? submitted by /u/vinkybean [link] [comments] source https://www.reddit.com/r/Real

Im currently taking practice and principals, which other course should i take as my 3rd ?? submitted by /u/AntHoney1221 [link] [comments] source https://www.reddit.com/r/RealEstate/comments/e3q9l4/help_which_course_to_take/

We're first home buyers working with a realtor our mortgage broker recommended. So far the realtor had been very enthusiastic and responsive when showing a few homes. They agreed we had a decent price range for what we were looking for and the last time we met they sounded very confident they'd be able to nail the next showings. For the past couple of weeks, however, they became unresponsive to the day of the week we usually tour houses. We spent the day waiting for their response after 3 emails and not a single yes/no. After a week, we sent them a final email asking if they still wanted to work with us and they brushed off the previous emails and said we'd tour some more houses this weekend. Is this a red flag? They've also sent a repeated house listing that we had already said no to. Does this show lack of commitment from their part? This definitely left a bad taste for this realtor but I'm trying to gauge whether this is likely a honest mistake or a red flag

Testing in a week and will be with a pretty well-known firm with outstanding training. I just moved here so sphere is quite small. However, I am wondering how realistic it'll be to get a closing within, say, the first few months. Ive heard stories of agents going 8 or more months starting out. The brokerage manager said that she did ten sides her first year but that new people, at their location, seem to do 2-3-4 right out of the gate, then stagnate due to a lack of focus on lead generation. All that to say, Im wondering how much of this is up to chance and how much directly related to lead gen, farming, networking and associating as much as possible. I have exactly six months of savings and am hopeful to get a side, or closing, by the end of February, or roughly 11 weeks in. May be a bit hopeful. Not sure though. In Northern Colorado if that matters. And my background is a single house-flip I did myself. submitted by /u/frybrosiah [link] [comments] source https://www

submitted by /u/Fergyfoo [link] [comments] source https://www.reddit.com/r/RealEstate/comments/e3of8y/what_is_a_studio_apartmentbachelor_suite_like/

Last fall, I had a buyer sent to me by a trusted lender. They were pre-approved and ready to go, using an FHA with downpayment assistance. At the time, the market was difficult and finding homes in their price range was tedious. Around Christmas, they decided to put it off for a year in the hopes that they could save up some money and try again this year. In late October, he called and said they were ready to jump back in. They got back in touch with their lender and we were given the go-ahead to start looking again. We've shifted into a buyer's market, interest rates are great, everything looked perfect. We found a house last Friday, but because they were traveling to Mexico for the holiday, he asked if they could have time to talk about it. I knew it was probably safe to wait, it's a neighborhood with a dozen homes for sale, each with over 100 DOM, agents offering all kinds of incentives to get them sold- now I'm glad I agreed to wait on writing an offer. Today, I

This is just a speculation as I do not own a home yet. I would like to buy a home for my mother who is unable to buy for certain reasons but has the means to buy. However, I don’t think I would like to live in this house with her, simply just put my name on it for her to have. I’m assuming there are some legal issues with this. Is there anyway for me to possibly gift the house to her, or for me to live separately from the house with a lease for an apartment? I would appreciate any advice on the situation. Extra info: my mother is diabetic and is 55. I’m not sure but I’m assuming that this affects the mortgage, in case I sign a mortgage for 30 years. submitted by /u/wtfcherries [link] [comments] source https://www.reddit.com/r/RealEstate/comments/e3jqif/what_are_the_chances_of_me_being_able_to_live_in/

I’m not in real estate yet, but I’m studying to get my license. While I’m taking my courses, I thought it would be good to speak to different real estate brokers in my neighborhood. We talked about selling – how they got their clients. Both of the real estate brokers I spoke to said most of their income is based on referrals. In the age of the Internet, I was surprised. Experienced real estate agents, do you rely more on referrals or online marketing? submitted by /u/redbirdlovespopcorn [link] [comments] source https://www.reddit.com/r/RealEstate/comments/e3jf2r/online_advertising_or_using_current_clients_to/

I’m finishing up my schooling and about to take my licensing exam. I’m starting to look into which brokerage companies are best for real estate agents who are just starting out. Any suggestions? submitted by /u/kduffy98 [link] [comments] source https://www.reddit.com/r/RealEstate/comments/e3immg/what_is_the_best_company_for_a_brand_new_real/

PA Realtor here. Yesterday, I did a walkthrough on a property under contract to get an idea of what type of homes are in that area. I used ShowingTime to schedule it as it was listed as a Go&Show. I just got a call from a Listing agent demanding to know why I went inside his listing. I explained that I was in the neighborhood and I wanted to see what’s available. I’m new to the area and I’m trying to get an idea of the different features of houses in the vicinity. He was not at all happy about that... he accused me of trying to “fuck up his deal” and said what I did is illegal... even though I received notification that my walk through had Been confirmed. I’m new to being a realtor and still working towards my first sale. I’m waiting to hear back from my broker. Do I have anything to be worried about? I can’t find any rules that I’ve broken. submitted by /u/KTM-King [link] [comments] source https://www.reddit.com/r/RealEstate/comments/e3gdzx/just_received_a_threate

I have always just used the big banks and had no issues. However I want to know whether there are any risks to using a small mortgage lender. What to look out for etc. The mortgage would be in Ontario Canada. submitted by /u/dengerus [link] [comments] source https://www.reddit.com/r/RealEstate/comments/e3gmht/what_are_the_risks_of_smaller_mortgage_companies/

I am a fairly new agent and I joined the office of an agent that I previously used to buy my rental property. We kept in contact after the sale and she knew I had my license and referred me to the office she was at. Im currently on the market for my 2nd rental property. I reached out to the office secretary asking if they offer mentorship and she said no but she would connect me to the sales manager to assist me. So now Im wondering why wouldn't a broker offer mentorship to new agents? The way I see it is if I win, we all win. He gets a percentage of the sale without technically doing anything right? Why wouldn't you want your agents to be on top of their game? Im genuinely asking, I dont mean to offend anyone if so. Off topic, but the sales manager helped me draw up the offer, they finally accepted it and now I need to move forward. Should I offer him cash/ a percentage for him assisting me? What's the honorable thing to do? submitted by /u/BuildingWealth30 [link]

Hello Real Estate Kings and Queens, I'm getting ready to graduate from university here this summer (M21) with a degree in digital marketing. I've enjoyed working in large and small business settings for other people, have some clients that I market for (freelance digital marketing), but have found that my ambitions are not suited to your standard 9-5 office job. I live for the hustle and the grind. I've been shadowing a successful local real estate agent in my home state area, Michigan, to test the waters in this career path and I'm sure this is the route for me. This kind of work is what gets me going, and I'm super excited to have found it. However, I don't want to spend my life here in Michigan. I'm looking to relocate to the Tempe/Mesa area of Arizona, and I am wondering what hurdles any of you agents or realtors have encountered becoming an agent in a state where you don't have near the same sized sphere as you do in your hometown, for example. H

First time homebuyer here, we put an offer in on a house we really like. It's newly renovated with a new roof, kitchen, and interior. Everything looks perfect except the inspector found active termites in the house and some damage in the floor and attic that he says should be replaced. We've confronted the owner/contractor and he claims he thought the boards weren't that badly damaged but also didn't disclose the termite damage to begin with. We can ask the contractor to repair everything and get the house treated but if damage has been found below the house and the attic, is it safe to assume they're everywhere? We are leaning towards backing out the deal but is this something that can be fixed completely or are we overreacting? Our goal is to keep this house as a rental in the future. submitted by /u/btulli2 [link] [comments] source https://www.reddit.com/r/RealEstate/comments/e3g2cz/active_termites_found_during_inspection/

Me and my wife make 200k but my part of the full salary is fairly new. Gov job that I started off two & half years ago (however 5 years of continuous service) at 40k and now make 150k. With things like an sf-50 that show salaries how easy is it to get a mortgage for say 400k and 5-10% down. submitted by /u/Brave29 [link] [comments] source https://www.reddit.com/r/RealEstate/comments/e3f88g/getting_a_mortgage_on_a_new_income/

You know that real estate agents are always trying to look at the bright side when describing properties that have issues. I am going to go see a property today that has two unpermitted/illegal bathrooms so that I can list it for sale. Trying to come up with the best way to describe them. In the spirit of today’s political climate I have decided to refer to unpermitted construction such as a bathroom...unDocumented “This may be an undocumented bathroom please do not ask for paperwork.” Please keep in mind that this is humor, disclose disclose disclose submitted by /u/wok174 [link] [comments] source https://www.reddit.com/r/RealEstate/comments/e3eho5/undocumented_bathroom_humor/

Most title job advertisements require experience from what i have seen. How is someone supposed to break into business if employers only hiring experienced applicants? submitted by /u/Novice33 [link] [comments] source https://www.reddit.com/r/RealEstate/comments/e3b8cy/title_insurance_jobs/

I was wondering if anyone knew more specifically about how BLM works. I am interested in buying land that is currently held by BLM, I understand that under certain conditions such as the land is Identified as excess, scattered, isolated or uneconomic to manage, that they are sometimes selected to be put up for sale. What I want to know is if citizens are able to make a case for land to become available for sale, or do we simply get what ever they decide internally to sell? ​ Thanks, submitted by /u/Naymeer66 [link] [comments] source https://www.reddit.com/r/RealEstate/comments/e3ab75/purchasing_blm_land/

We have some shingles blow off and I decided to do a roof replacement. Our insurance policy is covering about $4500. To our surprise, the roof has 6 layers of asphalt on top of cedar Shake. Cost will be around $13,000 for a full tear off. We bought the house in December of 2015 and the inspection report said that it has two layers of asphalt shingles. Is this something that the inspectors errors and omissions policy would cover or do I have any recourse for this? Thank you submitted by /u/lasllani [link] [comments] source https://www.reddit.com/r/RealEstate/comments/e3elzj/inspector_didnt_catch_roof_issue/

Background: First time homebuyer, buying in NYC. Because the house was extremely desirable, we were forced into into a dual agency situation. Our lawyers have been in negotiations for more than a week now. A few things that I would like advice on: 1) Seller's lawyer has language in the contract that says that if anything falls through between mortgage commitment and closing, then sellers have the right to keep our deposit (10% on the offer). My agent friend says that this is common legalese in CA but the culture there is that no seller with an experienced agent actually upholds this because sellers wouldn't want to have their house on hold in litigation. My lawyer wants to change the language so that we're protected until the mortgage is secured, but the seller's lawyer refused. Is my lawyer being an alarmist? 2) Sellers asked for a >3-month post-closing possession. We have negotiated the terms and feel comfortable with it, as long as we're truly protected. H

I make $92k annually and my monthly Bill's are around $700 (car loan, student loans and car insurance). Based on this info, can you give me a ballpark figure. Also, for the record, I'm one of the cheapest counties in the SF Bay Area, a decent home here costs around $450k. But I highly doubt I'll be approved for that much. I want to get an idea before starting to do the "real work". submitted by /u/Kellie_81 [link] [comments] source https://www.reddit.com/r/RealEstate/comments/e3dgiw/how_much_house_would_i_qualify_for/

Just a new homeowner here in the last year. Wanted to post and say that I spent a lot of time using sites like Zillow and Redfin trying to find the best home to buy in the Bay Area where I wanted to live. Then I spent 6 months tracking my estimates on these sites, wondering if I made a bad decision, etc. I dunno. Usual new homeowner concern I guess. I saw my Redfin estimate had gone down by around 100k in 6 months (from 1.25 to 1.15) and it was stressing me out. I started looking at comps in the area and realized these estimates must be garbage. A nearby home just sold for 1.35M with 50 more square feet and looks just as updated. In fact, the neighbor two doors down that’s house and lot is almost a replica of mine is valued at +100k... they’re 200 feet from me and on the same street. Just felt I should post a reminder for new home owners and would-be investors that these estimates are completely darts on the wall. In the general vicinity.... but something tells me me something i

Just going till make things simple. My wife and I want to buy a new house. We're currently living in our first home that we purchased roughly 3 years ago on a va loan with no down payment. The home was bought for 140k, since the neighborhood had filled up, homes in the area go for around 160ish. The new home we want is 190k. Trying to find a way to make it work is proving to be tough. Due to our lack of fu ds in savings and checking (probablycan't put anythingdown). Mainly because I really want to keep the first home and rent it out. (In a new subdivision 10 from a large air force base) I have very little knowledge on how these things go. But what I'm thinking is we have 1 of 2 options. Refinance first home, and use escrow to put down payment on new home? Or refinance with a new bank to clear up my VA benefit so that the VA will approve the new loan? Get a signed lease for original house to show it as income before attempting to get new loan? Additional info: First

My mother owns our childhood home, where she lives by herself after my dad’s passing. Single family home: 2,100 sqft, 4 bed 2 bath, built in early late 1990’s. Neighborhood zip-code: 95382. The home is valued at about 530K. The home is just to big for 1 person to be living in. My mom wants to purchase a smaller home that she can live and retire in. My questions is, what should she do with the home? The only two options would be to sell or rent, what would be the benefits for her to do either-or. Tax pros & cons, etc. Are those the only two options? What are your guys thoughts. Thank you in advance. submitted by /u/lightscody [link] [comments] source https://www.reddit.com/r/RealEstate/comments/e38cgt/mom_owns_a_home_worth_approx_530k_what_to_do_with/

We want to move to a apartment. I'm thinking we use my name for the lease but he pays the rent submitted by /u/AllCityReject [link] [comments] source https://www.reddit.com/r/RealEstate/comments/e38kar/if_my_dad_has_bad_credit_then_can_we_use_mine/

Hi there, just had a question about downpayments. I understand that most lenders do not allow or are wary of downpayments where some part of the downpayment is borrowed by the borrower. In my situation, I received a gift from my parents. The gift itself came from a loan my parents took out and are paying off. (I am not on the loan.) Is this something that will cause an issue with lenders? I deposited the gift funds several months back and I am currently in the process of purchasing a property. I am approaching the end of my loan contingency period so I just wanted to know if this is something that could cause an issue. Thanks in advance for any advice and Happy Thanksgiving to everyone. submitted by /u/throwaway30054 [link] [comments] source https://www.reddit.com/r/RealEstate/comments/e36zvn/ca_downpayment_with_funds_borrowed_by_someone_else/

Is it possible to reassume a loan on a house after It had already been assumed by a realty? submitted by /u/thelonegunman88 [link] [comments] source https://www.reddit.com/r/RealEstate/comments/e38f5r/want_to_go_back/

I know everyone’s situation is a little different so I’ll explain a little and have you guys jump into my shoes for a sec. I bought a fixer upper in Hawaii 2 years ago, a year after being stationed here on behave of the Airforce’s needs. I fixed it up and rented it out to some of my military buddies during the time. I met my future fiancé here in Hawaii as well and we are doing the exact same thing with her townhouse. We live in her place now and we fixed it up nice too. So now we have two properties in which together, we hope to take home about 150k once sold from what our real estates agents have said and by checking out the near by comps. Fast forward to today, I’m getting medically discharged by the military because of my bad back condition and my girlfriend is voluntarily getting out too in hopes of pursuing her IT career. We love to save money so we have some nice cash stored away and other than buying our town homes, we don’t invest because we don’t feel educated enough to do

I'm currently signed for a one year lease in my house, starting from this past October. I know the owner was trying to sell it for the past two years and just this fall put it up for rent because nobody would buy it. I would have bought it if I could, but I had no clue how to buy a house and I needed a place pretty quickly in October. The owner said he was willing to discuss a sale whenever I want. How do I go about getting this done? Should I go back to the realtor that dealt with this rental listing or would that be a conflict of interest? I have a realtor family friend but her area is outside the city and when I asked about getting help for this, she seems unsure. And can someone explain seller financing and if that's a good idea here? I might not get approved for the full mortgage. submitted by /u/quicktick [link] [comments] source https://www.reddit.com/r/RealEstate/comments/e36vsp/how_to_propose_to_buy_the_house_im_currently/

Is it better to buy an older & cheaper home in Cali (1950-80s) or should I wait it out and buy a newer home (1990s-up)? Any advice? What are the pros and cons? What should I look out for? Thx! submitted by /u/chris5042 [link] [comments] source https://www.reddit.com/r/RealEstate/comments/e35pyc/buying_an_old_vs_newer_house/

Hi Everyone, I'm new to the real estate market and would love to open up a discussion on some strategies on marketing my property. it's a home in Long Island NY, 4 bedrooms 2 baths, garage, and basement. I'm thinking of using social media ads like Facebook and target people who I think may be interested in the home, but what are your thoughts? Any advice that can be given would be much appreciated. Thanks! submitted by /u/kenaki_the_last [link] [comments] source https://www.reddit.com/r/RealEstate/comments/e35dnv/how_to_advertise_your_property_thats_on_the_market/

My wife and my 1 y/o are moving from Washington state to Chicago in a month for work reasons which does not give us a lot of time. We have been using Truila to look for town homes to live in. Because of personal and work reasons we are unable to physically see any offers we ask about. Best bet for us right now seems to be Skyping the realtor renting the property to us however it doesn’t really tell us how nice the neighborhood or community is. We also feel like we’ll miss something we don’t like while we are Skyping. Is there any advice or tools we could use to ease our decision making process? submitted by /u/TripleKickfliped [link] [comments] source https://www.reddit.com/r/RealEstate/comments/e35arp/moving_without_seeing_rental/

Bought a house in NC, for weeks I was checking in with the mortgage guy to make sure nothing would be delayed, etc and he said "we're right on track" and "no news is good news". We are now supposed to be closing on Wed. Dec 4, he calls me at 4:59pm on Wed night (before long Thanksgiving weekend) and tells me closing is going to be delayed because they can't get in touch with title company. Apparently they've been calling the wrong number for weeks and just now decide to tell me. I had furniture, movers, utilities, etc all scheduled for closing day or a day after. Not to mention I apparently lose thousands of due diligence money if the closing is delayed. We didn't have due diligence in the state I'm coming from so I'm not sure if there is any way around it. I'm beyond angry, since I've been in contact with him for weeks asking if there are any issues that would delay closing so I could start working on them. I'll never use WF (

There’s an area I’m interested in buying with three different builders doing new construction. Is it usually possible to buy the LOT ONLY from one builder (better lot), but get a different one to build the actual house (prefer a different builder)? Or is it that if they sell you the lot, you have to build with them? submitted by /u/Ctzip [link] [comments] source https://www.reddit.com/r/RealEstate/comments/e3319y/dumb_question_i_think/

My house burned down and I never rebuilt it. The foundation and part of the garage is still on the land. It’s about 25,264.8, with a fenced backyard. If I was to sell it how much do you think I’d get for it? Am I better off rebuilding a home there (I have not enough money for this and I am in a desperate time which is why I’m asking if I should sell it) Are there people who would demolish what is there for free and help me sell it? submitted by /u/octokitt3n [link] [comments] source https://www.reddit.com/r/RealEstate/comments/e31uvq/previously_burned_down_property_wanting_to_sell/

I've owned a house for many years (well, the bank owns a lot of it too, actually) and track it's estimated value using Redfin. I have a spreadsheet history that I update each month going back years. But there's this weird bug I noticed where the estimated value gets retroactively changed. For example, in January 2018 Redfin estimated my house at almost 2.3M. It was approximately 2.3M for several months -- before and after January -- so it was pretty stable and not some error on my part where I might have written down the wrong number one month. But now if you look at the chart for the same time period around Jan 2018, Redfin has an estimate of approximately 2M. The value has fallen recently (per their algorithm) which is fine and probably accurate. But they're not only adjusting the current value, but retroactively decreasing the historical value. It's not really a problem for me for any practical reasons, but it just seems bizarre. It was worth what it was worth

Ok so I’m new to reddit but I don’t really know where else to ask. To set the stage my grandfather had passed about a year ago and left my grandmother all alone in Tennessee. My dad moved from California to Tennessee to help his mother move out and take care of her in her elderly years. Not important to the story but my dad does stained glass repair and fabrication, and apparently there’s not a big market for it in the south, so he’s not making a lot. Come to find out that my grandfather wasn’t the best financially, and had left my grandmother with a triple mortgage on the house. Upon further inspection from my dad, it seems as though half of the house has no foundation under it. The half of the house without foundation has only a few cinder blocks resting on the dirt to support the house. The dirt that the house is resting appears to have some sort of sinkhole under it or something because There are huge cracks that go down further than we can reach. The house was built in 1975 and

Okay so basically i got a certain amount of money that I was putting on the side for a while. Now that I feel that I have enough I was planning on buying a house. I do not really intend to go live there right now since I’m still studying. So I was wondering, economically speaking if I wished to make some money from renting the house would it be better if I take one big house or 2 smaller ones in different countries. Also since my objectif on this is to have a secure long-term revenue while at the same time an asset on my name, I was also thinking about doing something else with my amount (stock, bonds...) before investing in real estate. I am really not experienced in this and the decision feels huge for me Thanks my fellow redditors submitted by /u/mazeuun [link] [comments] source https://www.reddit.com/r/RealEstate/comments/e2y5q5/what_should_i_do_a_big_house_or_two_smallers/

So inspection revealed minor moisture damage and painting needed on clapboard. Also some rotten trim pieces around columns. My realtor said exterior painting was required as it "could effect the foundation and was not cosmetic." Also there was fogged window indicating bad seal. Again I thought these things I wouldn't have or worry about. Yeah. I can fix but I feel I'm doing them a favor and its not required under necessary repairs. Vjrginia What do you think? submitted by /u/oakmanii [link] [comments] source https://www.reddit.com/r/RealEstate/comments/e2s8o4/outside_painting_repair/

https://imgur.com/a/WCHCJKJ If I am prepaying homeowner insurance premium for 12 months, why am i paying for 3 months again in the initial escrow payment at closing? Same with property taxes, if I am prepaying for 3 months, why am I paying again in the initial escrow payment for 2 months in other taxes (I believe it's property taxes) submitted by /u/HastroX [link] [comments] source https://www.reddit.com/r/RealEstate/comments/e2rkof/do_not_understand_these_costs_can_someone_help/

What was your experience and how late into the process did you find out? submitted by /u/Yhprums [link] [comments] source https://www.reddit.com/r/RealEstate/comments/e2r5zi/have_you_ever_lost_a_house_you_wanted_to_buy/

So I am a California agent. I’ve been in for under a year and have assisted my broker with deals but have none for myself as of now. My sphere of influence has run dry do to myself and my broker having the same group of friends which have given him all of his business. I’ve had family member screw me over, sadly my girlfriend’s family used different agents and I’ve just plain had bad luck. I’m just curious as to how you acquired your first sale or purchase? Friends/family? And after you went through them, who was your next target market? I don’t feel like cold calling is really a useable technique in 2019 and I wouldn’t even know where to get someone’s number. Any and all advice is welcome. submitted by /u/Alessoninswagenomics [link] [comments] source https://www.reddit.com/r/RealEstate/comments/e2qv6l/new_agent_struggling_with_leads/

RE Rookie here, looking for some more experienced advice about the single rental unit i own: 34 and 33 yo married DINK with roughly $250k annual salary and about a $1M net worth not including this property with all assets being stocks (401k, IRAs and Brokerage). Goal is Financial Independence in 10 years and a net worth of $2.5M. About the property jn question: Condo is being rented for past 6 years, since me entering military after just under 2 years of ownership (owned since 2012). Condo is located in a HCOL region outskirts of NYC and doesnt have any issues getting rented due to ease of access to NYC via public transport. My wife and I are currently looking to purchase a home in Washington State where we are stationed as a potential rental property after we inadvertently have to move in 3 years under military orders. We qualify for a VA loan but also have about $150k in cash in a downpayment fund, also are OK renting if that makes more sense. Our goal is to eventually move back to