We originally hooked up with an agent in Phoenix though a program that gives me a kickback on purchase. We went on three looking days (maybe 10 properties total) and have decided that she doesn’t know the area we’re looking at and doesn’t have the experience we need to get the best deal where we’re looking. We found the perfect agent at an open house who does and would like to switch agents. How do we gracefully do this? Do we just “ghost” realtor A? Send her a thank you gift like a Starbucks card or something? Explain why or not? A is very young and only really knows A part of the city we’re not interested in. She has no idea if a house is overpriced for the area and pushes to write a contract on every house we looked at even through they were way off the mark on our list of must-haves. Walk away quietly with our new agent or explain then walk away? Thanks. submitted by /u/UNDhockeyhateswomen [link] [comments] source https://www.reddit.com/r/RealEstate/comments/eidy3q

I know a few developers in my area who do subdivisions and condo buildings, I’ve looked through some of their finances and it seems like they use an huge amount of debt compared to investors. It would seem like they are over leveraged on paper, if there was a market downturn they would be screwed. How are they able to use that much debt for an asset that doesn’t even exist? submitted by /u/NotYaNigga [link] [comments] source https://www.reddit.com/r/RealEstate/comments/eidqio/why_do_developers_use_so_much_debt/

Hi everybody, I’ve recently started construction on a new home. But I was wondering if there is anyway to find out what the original house was that was built on the land I purchased. How would I go about doing so? It’s to be expected to have homes torn down and replaced by new construction in South Tampa, Florida. So I’d assume the city might keep records of what the history of that land is. Weather it was a previous home owner, what was previously occupying the space, and the previous sell prices of the lot. I was only able to find previous sell prices but not much more details. submitted by /u/ShadowWolf2020 [link] [comments] source https://www.reddit.com/r/RealEstate/comments/eicey8/finding_out_what_was_previously_built_on_my_lot/

State: California City: Sacramento My wife and I are looking for homes to buy and were very interested in one home we came across. Everything looked good, except our home inspector found damage to the foundation outside and a foundation repair in the hallway. My wife and I decided to contact a foundation company for a foundation measurement. Here is where the story gets odd. Because there was a gap between when inspections needed to be finished and when the foundation company would be able to schedule we requested an extension on inspection time, assuming this would be no problem. The seller refused to sign it. Our agent explained that we would be walking away. One day after the 3 days left he signed and we had an inspector come in to measure the foundation. What we found was that the foundation was likely cracked straight across the house. The Master bedroom was 2" below level, and the far corner of the house across from the master (the living room) was also sinking a simila

My aunt seems super busy with her real estate jobs. Sense im staying with her for a couple of months and I have free time is there anything I could do that will you help her out majorly and make her job easier while I'm in town? submitted by /u/wadester007 [link] [comments] source https://www.reddit.com/r/RealEstate/comments/ei00p0/im_in_town_staying_with_my_aunt_for_a_couple_of/

It's in an expensive area, Seattle market. It's on MLS, so not a pocket deal. It's been sitting a while, so probably can grab it a bit cheaper + closing costs. 800K means jumbo loan, not just FHA (probably the biggest issue here.) 2 x 2 bedrooms. Median rent in the area is 1600-1900. 1x 1 bedroom (where i'd live and airbnb out when I'm not in town.) At 4% downpayment, it looks to be about $4200/month. At 20% downpayment it drops down to $3200/month. 4% = 30,000 20% = 152,000. I'm tired of renting in the Seattle area, but also I kinda hate the area but I do understand the housing crunch, my work always involves seattle (tech) and Triplex always seem to hold value, and the area within an year will be open to more public transit / train. At what point does it make sense? Even at 4% cost w/ high interest - it's cheaper than renting a studio at $1600/month. submitted by /u/careago_ [link] [comments] source https://www.reddit.com/r/RealEstat

TL;DR: Me and my girlfriend are being harassed by an agent working for a preconstruction project claiming he is our agent and that he should get the commission. Calling us multiple times even though we told him we already we already have an agent and making inappropriate accusations towards us which is extremely unprofessional and downright rude. Left a real sour taste in my mouth. What should I do? A little backstory: Me and my girlfriend just bought our first home together in the form of a preconstruction with the help of an agent who is a buddy of mine. He was the one to introduce us to the project. We check the website and in order to get the floor plans and to get more information we had to register with the website. Done. We receive some info including the floor plans and a date for an info session (like a banquet hall of people. Not one on one). Looking at the site, they have some agents that represents the project and they are there to help with sales and to answer question

It it normal/legal for a broker to charge $100 Application fee per tenant in NYC? I was under the understanding that state law capped application Fees, and background checks at $20 a pop?? Are they breaking the law??? submitted by /u/KingJon7124 [link] [comments] source https://www.reddit.com/r/RealEstate/comments/ehzear/100_application_fees/

Experts on real estate - based on the current trend of the economy it seems we are teetering on another recession. What is your opinion on buying real estate now. Is it smarter to buy once the market goes into a recession? Do I need holding power to purchase a property during a recession that I was planning on renting out? submitted by /u/star_gazer00 [link] [comments] source https://www.reddit.com/r/RealEstate/comments/ehyrqn/impending_recession/

So I have a rental property which is currently turning over. My last tenants paid on time and occupied the property for four years. They were decent tenants. I found the following issues during the move out inspection and I’m curious whether others would describe these issues as normal wear and tear, or something else. TIA Chip in the middle of laminate kitchen countertop Broken/ripped screen door which cannot be fixed Metal flashing around front door & window has been etched by a sharp object. It basically looks like a child etched letters/words and scribbles into the metal in multiple areas. Microwave has cracked front door and burn marks inside (this microwave was new and purchased during this tenant’s tenancy as the original microwave broke and was replaced approx 3 yrs ago). Child’s scribbles in pen on walls in multiple areas which have required extra coats of paint to cover. submitted by /u/awwfawkit [link] [comments] source https://www.reddit.com/r/RealEs

We are considering a Meritage Homes house and we can’t seem to find many reviews online other than some bad ones on consumer affairs and then a couple good ones from Reddit. Does anyone have any experience/reviews? Positives? Negatives? submitted by /u/cuddlebuginarug [link] [comments] source https://www.reddit.com/r/RealEstate/comments/ehyce6/does_anyone_have_experience_with_meritage_homes/

So my mother will be receiving a 250k settlement soon. We currently live in a triplex that we own and we live in the front unit and rent the two back units and receive $1800 a month in rental income for them. Mortgage is ~ $1800 a month and we currently owe about 215k with a 4% interest rate with about 12 years left. My mother wants a single family home in an area where prices average $600k. My initial thoughts are to pay 100k towards the mortgage and have 5 years left on that triplex before pay it off. We can hold on to the 150k for when we find a home that we want to buy (store it in a CD or high-yield savings account). If and when we do buy rent out the front unit and have about $3k in rental income which will pay the 1.8k mortgage giving us 1.2k to help pay our new home mortgage. My dad and brother’s income is about 2.5k a month after taxes, mine is about 3.5k. With this we should have more than enough income to make this possible and pay for utilities, food, etc. Any though

Signed a contract to purchase 59 acres across the road from me. Agreed to close on January 24th, found out I won't have the funds to purchase until February 6th. How can i get this contract extended? Will i have to pay fees? submitted by /u/YoloGang4LyfeTSLA420 [link] [comments] source https://www.reddit.com/r/RealEstate/comments/ehxudz/extension_of_contract/

Hey, I have a house for $35,000 with a $10,000 down payment with a fixed rate of 4% for 30 years. I have no credit history but I am not doing this through the bank, I am doing this through my father who owned the house before me. He purchased the house for 29k a few years back. It brings in about $600 a month and costs about $277 a month with the mortgage I’ll be paying plus taxes and insurance. I’m thinking of opening a credit card and putting the expenses on there so I can build a score. All in all, I don’t even know if this is a bad idea. Anyone have any suggestions because I’m fairly new to this. Also, does anyone have any credit card suggestions? submitted by /u/senselessapprentice- [link] [comments] source https://www.reddit.com/r/RealEstate/comments/ehxu1g/buying_first_rental_at_18_in_need_of_advice/

I'm 35yrs old, single male. I moved over 8 times in last 20yrs and I'm over it. Here's what I"m looking for -low property tax low crimes -somewhere warm or 4 seasons around 200-300k -safe place where I can start and raise a family what do I need to watch out for when buying a first house? I figured my real estate agent will handle everything? is it a bad idea to buy a cheap foreclosed homes? submitted by /u/wisqrg50 [link] [comments] source https://www.reddit.com/r/RealEstate/comments/ehxlqx/buying_my_first_home_usa/

All scenarios are in CA. Looking for your professional and personal inputs. 1.Notary public notarizes a power of attorney with someone using a fake ID, and in CA, a thumbprint is required. There is no thumbprint. This assumes that the notary does not know how to verify a fake ID is either incompetent or negligent. What are you opinions on a notary, the transaction and possible court outcome? A mobile notary public notarizes a power of attorney with a fake ID at a parking lot at midnight. This assumes that the notary does not know how to verify a fake ID is either incompetent or negligent. What are you opinions on a notarization and the person with the fake ID? You, the notary are being sued, and you are aware that you may be getting sued and you decide to leave/flee the country to avoid being served. What are your opinions on the notary? You, the notary are being sued, and have been served by a lawyer representing multiples clients. Instead of answering the complaint, you

I recently viewed a home last week. Listed at 285k assessed at 240k. Seller was offering to pay all closing costs. 1200 sq ft, needed some minor work. I offered 230k. Within 5 mins listing agent informed me that the offer was “too low to counter”. Which I just found to be strange. I just received a notification about the home going into foreclosure, I did some research and noticed the judgment on the house was for 183k. Going to auction on Jan 16. While I was viewing the home the owner said regardless of what happens they were moving out o Jan 15, due to school changes and that they had a new place already. What would be the reasoning to not accept the offer? submitted by /u/rileysdad23 [link] [comments] source https://www.reddit.com/r/RealEstate/comments/ehx8gk/was_told_offer_to_low_to_counter_but_just_got_a/

I'm in California if that helps. Here's a timeline: -I made an offer on a house -On Saturday, realtor called and said they had accepted my offer Friday night. -On Saturday, we received a copy of a counter offer form w/ seller's signature on it stating that they are selling the house "as is" and realtor said to sign and accept by Monday if we would like to proceed in purchasing the house. -Realtor called on Sunday stating that seller has received additional offers so their counter offer has been rescinded and they sent another counter offer stating that they will accept the highest offer. -Today, realtor had us sign that form as well as a buyer counter offer stating our original price. Realtor made it appear as though we had the house. -Realtor said they accepted someone else's offer and that we are next on the list. Did my realtor drop the ball? submitted by /u/The__Rover [link] [comments] source https://www.reddit.com/r/RealEstate/comment

I am going in on a house with my Dad (buying a house to rent out, wont be living there) because I dont have enough saved up to put in a healthy downpayment. What is a fair way for us to go about this? Right now, we agree that he will put in a downpayment that is about 50% of the value, and we will split the mortgage 50/50. What is a fair amount to split the revenue between us and would you recommend starting an LLC for this? submitted by /u/BiscuitBoi69 [link] [comments] source https://www.reddit.com/r/RealEstate/comments/ehwzeo/going_in_on_a_house_with_my_dad_what_is_a_fair/

I just want to go see the unit, why would the realtor want me to “sign a buyer broker contract just for that unit.”? submitted by /u/KINGOJ7 [link] [comments] source https://www.reddit.com/r/RealEstate/comments/ehwe3x/buyer_broker_contract/

Client bought a house (not my deal) over the summer. During an inspection, it was found there was Aspergillus mold present. An agreement was written to give the buyer a credit at closing. One day before closing the seller also remediated a broken AC and the deal closed. 6 months later the bother of my client died unexpectedly. The air was tested again and now there is another type of mold/fungus (basidiospore) which is a toxic spore and my client suspects is the cause of her brother’s death. The mold remediation company cannot find the source of the new mold and therefore cannot remove it. The levels inside the house are about 50-100x as what is outside. So, I have no clue what to do in this situation. It may have been festering in the broken AC, but my client does not have the money to replace the AC on a whim. I don’t think that we have a way, if we get a lawyer involved to prove negligence and seek damages from the original seller. (Arizona). They want about $10k to get involved

I have a debt-free home in San Francisco. It's a four-bedroom, 2.5 baths, mid-century design. It needs some interior work (updating). I'd like to get some advice on how much $ to spend to get in rental condition. Who should I contact to get a walkthrough assessment? submitted by /u/Hopeful-Exchange [link] [comments] source https://www.reddit.com/r/RealEstate/comments/ehvu0j/need_some_advice_to_move_forward/

My husband and I received a collection letter stating we owe $26,000+ to the seller of a home purchase agreement that never closed. It's an extremely long story so I won't go in to all the details but we went under contract for a house in Suffolk Va and as things were moving forward we found alot of misrepresentation and what we believe was fraud in reference to the realtor, mortgage broker, and seller so we didn't go through with the sale. We got a letter from the seller's attorney threatening a lawsuit if we decided not to close but after that complete silence..we never got a termination agreement for the contract and the realtor called and said point blank if we weren't going to close then he no longer worked for us and hung up on me and I never heard from him again either..the whole situation snowballed into another bad situation with our then current rental and we focused on that and finding another place as well as gathering information and trying to find a l

I'm in the market for buying a home to live in for myself (not to flip). This one fixer upper (60 year old home) caught my eye and the entire cosmetics on the inside would have to be gutted and re-done. I would like to make sure I have the proper inspection done before closing escrow. Are there different types of inspectors or professionals I should hire to do this type of evaluation? Ultimately, I want to make sure I have a good idea of how much I need to spend on renovations. submitted by /u/elfreedpayton [link] [comments] source https://www.reddit.com/r/RealEstate/comments/ehur57/what_types_of_inspectors_should_i_hire_when/

The Las Vegas Market is pretty hot and competitive. My husband was doing some back digging research for me on Zillow, OpenDoor and OfferPad to see how they stacked up against what my comps said on our home. Well he also managed to get a quote from a local agent here, (a whole other conversation). A Top Producing agent as a matter of fact and they tier their listing packages. Now listed below is what they tiered theirs at, but I'm do all of the below for less than 3% half the time. ​ Do you tier your listing packages? What do you feel the disadvantage is or advantage is to doing so? 1% MLS ONLY LISTING - Nothing else all the way to 4% for the whole sha-bang! 1% List MLS only 2% (MLS List + Online Marketing and Professional Photographer & Market Analysis) 3% 2% Listing plus Video walkthrough, just listed post cards, weekly market report and in house buyer specialist showing your home to office network of buyer pools 4% 3% Listing plus facebook ads, international presence

Wife and I are looking at new construction $660,000 home. The builder offers a $5000 bonus if you either use their lender, or use your own lender and get $5000 towards appliances. Currently it only needs a fridge and washer dryer. Our agent said if we use our own lender, we can get them to price match the $5000 lender bonus (which they already agreed to do), and then we can also get the $5000 appliance credit from builder. I’m guessing we won’t be able to negotiate the home price, but what else can we negotiate? It does need a fence and some landscaping. Is that something that would be negotiable? What about wiring up specific floodlights I want on the front and rear of the house? I’m not trying to be greedy but what else should we do? One last item is the builder wants to see our current house we are listing. They want to see the condition (it’s great condition) and the listing price. Is this normal? They would do a walkthrough of the property and home in person before or just afte

Myself(28) and wife(25) currently gross 160k we max out our 401k, Roth IRAs and HSAs. No kids. Our mortgage is paid off and the house value is 320k. We have 40k liquid cash and have a HELOC of 250k. The house in the DFW area particularly Euless. we’re planning to have kids in the next 2 years and school district is important for us. HEBISD (for those familiar) to me is a terrible school district. I would prefer our kids go to GCISD. however, the cost of homes are significantly higher. Here are our options: 1.) stay in current house, use HELOC to buy investment property and put it on rent. (Might be hard to find cash flow since DFW market is hot) 2.) get a nicer home in a better area around us.(grapevine/Colleyville) 400k range. So we have a property in the school district and don’t have to stress when we have kids, And put our current house on rent. (We can get $2300 a month in rent) 3.) Should we downsize and get another house and rent this one out for $2300? (Further drive a

Hello everyone, it is time for me to become a homeowner. There is this house that I love, but its listing price is crazy. Its been on the market for 1 month and its at $460,000. I’m hoping I can get it for at-least $410,000. How much under asking price should I offer on the house? I heard if its been on the market for 1-2months you can offer 10% under. If its 2+months you can offer between 20-30%. Is this true? How much percent under asking price did you pay for your house? submitted by /u/Jae3991 [link] [comments] source https://www.reddit.com/r/RealEstate/comments/ehp98j/how_low_can_you_go/

The situation is pretty much fully explained in the title. Her exact words were “they also have a offer so if you want to put in a offer we need to soon.” She seems kind and trustworthy, but to be honest I don’t know her very well. Is it possible that she is lying or that she is being lied to? 140 days is a very long time to be on the market and the fact that this offer mysteriously appeared right as I was in the process of making an offer is suspicious. submitted by /u/AceTrainerDanny [link] [comments] source https://www.reddit.com/r/RealEstate/comments/ehp70i/i_am_buying_an_investment_property_thats_been_on/

Hi all, my wife and I are going to be listing our home very shortly for a move out of state. We have contacted two different realtors from different groups. We know both of them on some person level. One is the agent who helped us buy our home years back, and they other is a former coworker who is know on the real esters business. Both of them have given us very similar assessments, plans, and fees. So I guess I’m just stuck on how I should proceed choosing one over the other. Sorry for crappy formatting I am on mobile. submitted by /u/Unkle_Argyle [link] [comments] source https://www.reddit.com/r/RealEstate/comments/ehoq0l/how_to_decide_on_a_listing_realtor/

There’s a lovely home in my neighborhood that has seemingly been vacant over ten years. The previous owners have noticeably abandoned it, county records even show that they’ve acquired a new property instead. I’m curious as to who is watching over it now — if there is any general answer. I fathom after some signs of trespassing, a few doors have been boarded up, including one piece of wood nailed along front door. The grass seems to be consecutively cut too, I can never quite catch the person however. Clerk records still show the property as being in some limbo state of foreclosure... Do banks hire maintenance companies or what? submitted by /u/commeilfaut26 [link] [comments] source https://www.reddit.com/r/RealEstate/comments/ehobq6/who_takes_care_of_abandoned_properties/

Hi all. Girlfriend (and soon to be fiancee) and I are prospective home-owners. I am familiarizing myself with this sub quickly, so I am sorry if my question could be more easier answered with more searching. I will lay out my conditions below. Incomes. I take home ~65k and she takes home ~65k. First child due in March. This is the biggest thing to me, crucial to have everyone under one roof. I carry no debt. She has 5k credit card,15k car, 15k student. I have about ~17k cash, 3k savings. Right now we both live in separate apartments with a total rent of $1750. Our leases both end August 2020. We can beat that on a mortgage pretty handily I believe. Trying to meet that 20% downpayment, but not crucial with VA loans I see. I would be planning on buying come summer time to save a bit more for that. My father is comfortable contributing via loan, but treating that as a last resort. I am estimating our budget to be around 200k in the Greenville SC area. Approaching this with VA lo

Good morning, all. My wife and I are going to be making a concerted effort to get out of our starter home this year. According to my Property Appraiser's website, our property value has almost doubled since we bought the house for approximately $80k in 2014. We would like to use that equity to cover the down payment and moving-related costs. My main question is: how do you buy (or build) a house while trying to sell at the same time? Is there a time frame that you allows you to buy or build before you sell? I assume that can be established through a contract, but I have basically zero experience in these situations and I don't want to go to a realtor to have them immediately push me to buy or sell. We'd like to build a house because we're so picky about how we like our living spaces laid out, so I'm also curious as to the cost comparison between buy and building. Our area has inflated quite a bit, and I suppose that we would basically be buying houses that were

Hi All, I bought my place in Contra Consta county in Richmond, CA in Sep 2019. Just got a tax bill that covers fiscal year July 1, 2019 through June 30, 2020. Am I responsible for paying the whole amount? due to the fiscal year, it kinda makes sense, but just wanted to make sure this is not something the previous owner should have taken care off. Thanks. submitted by /u/Toko22 [link] [comments] source https://www.reddit.com/r/RealEstate/comments/ehnoei/bought_in_sep_2019_am_i_responsible_for_1920/

(NJ) Home was built in 1965. We purchased the home "as-is" as per the contract. However we recently realized that more than 75% of outer walls of the home do no have insulation. Regardless of the as-is contract was/is the seller required to disclose this? Home inspection did not and from my knowledge does not look into walls to see if they are insulated. So how was I supposed to assume or know to check this when buying? Any info/advice would be greatly appreciated. Edit: spelling submitted by /u/shubaD [link] [comments] source https://www.reddit.com/r/RealEstate/comments/ehnn22/nj_does_the_seller_have_to_disclose_that_the/

submitted by /u/mackboync [link] [comments] source https://www.reddit.com/r/RealEstate/comments/ehmygg/realtor_says_its_worth_83k_but_the_house_is_in/

I am looking to do some home renovations in the new year to my primary residence but before I begin the work I want to make sure that the work I am doing is adding value so that when I refi or should I sell I am equity up on the work I’m putting into it. What’s the best way to make sure the work and cost of work to the house is worth it? submitted by /u/Really_Cool_Dad [link] [comments] source https://www.reddit.com/r/RealEstate/comments/ehm58q/home_renovations/

I know a lot of people don't have this opportunity unfortunately so I would like to take advantage of this to be able to acquire my own house because if I didn't have this house to come to I would literally be homeless right now................ but I don't know how to go about doing it >.< Okay so I'm on SSI which is only $783 a month & I live in Palestine, TX. The market here is very bad it's a sellers market at this point. There's not a lot of rentals & the rentals that are listed in the area are like $800+ in its way too much for an SSI income. Luckily my dad acquired this house back in the day before everything in real estate went to shit & he fully owns it. I'm able to live here rent free & could technically stay here forever but to be honest with you I wanna get out of here ASAP. I honestly can't stand my dad & it just feels awkward to be living in this house with him but I'm only dealing with him because I would ot

In this hypothetical situation, the seller has agreed to work with me. How do I get this under contract so that the title agency doesn't go behind my back or another agent or wholesaler butts in. This is part of the process that gets confusing for me submitted by /u/13enigma [link] [comments] source https://www.reddit.com/r/RealEstate/comments/ehlexj/in_wholesaling_how_do_you_get_the_contract/

Hi, I'm pretty new to posting on Reddit so here goes. Me and my family (Mother, Sister, and I) Are looking to move out of state. We live in the U.S. and my mother found a deal on a house but I'm afraid it may be a scam. We live about 15 hours away from the house so we can't check, and the landlord lives even further away than we do if what he says is to be believed. The landlord who we are in contact with agreed to send keys and lease papers after a security deposit. Against my gut the money was sent (from bank to bank if that makes a difference) however the landlord is now requesting that we also pay first months rent before sending keys and papers. He says he was advised by his lawyer not to do so before first months rent stating that he will be out of the state's in January and if the lease and keys are sent now then we have rights to the house for a year since the agreement is yearly. The whole thing seems off to me, is there any way to discover if this is a sca

I have three separate pre-approvals for an amount that is $80,000 above our offer. They are nervous my financing is a concern. We are talking about a mid $200k house and I am approved for mid $300k. I don't know how else to calm them down. They are so worried that they have requested they can move out after we sign all the closing paperwork. submitted by /u/Scooterboi85 [link] [comments] source https://www.reddit.com/r/RealEstate/comments/ehh31a/sellers_are_nervous_about_my_financing/

Buying a house from original owner built 1994. What are the chances owner still have a copy of blueprint and giving it to me on request? I have requested my realtor to request it from the seller. Thoughts? submitted by /u/Bxs0755 [link] [comments] source https://www.reddit.com/r/RealEstate/comments/ehgemv/blueprint_request/

I'm in California and want to retire but would like to invest in rental property like a duplex. But it is so expensive here that I've been thinking of doing it in another state. Any advice would be great. submitted by /u/Bryce006 [link] [comments] source https://www.reddit.com/r/RealEstate/comments/ehfxz9/curious/

So here is where I sit. My mom (70) is single and has her only income from social security which is just under $1k a month in northern California. She has 2 mortgages on her 1 house (long story one of the mortgages went to collections but is now in good standing for about a year). She is unable to pay for the two which has left me picking up the second mortgage for the past year. Now she is having trouble making the first mortgage payment and I am already stretched thin paying my mortgage along with her second. The first mortgage is $87k at 4.8% FRM with a maturity date in 2040 and $858 per month. The second one (The one that went to collections) is for $75k with a 4.7% ARM with a maturity date in 2031 and $730 per month. The house is roughly around $370,000. And not up to date and could use some love to get to market value. After looking into any extra income my mom can make, the only thing we have is her dog sitting through Rover, however, she is very bad with technology and is

I plan to buy a house in a year but as far as my realtor is aware, I'm buying one immediately. This means that I do not intend to buy any of the houses he will tour for me. Instead I will use this opportunity to ask questions to gain experience on what to look for in a house. ​ I wanted to ask what questions should I ask him and what should I try to learn about? I'm also bringing some friends that are more experienced in real estate to prevent him from tricking me up. submitted by /u/xuhu55 [link] [comments] source https://www.reddit.com/r/RealEstate/comments/ehfy88/what_to_ask_realtor_when_visiting_house/

The boiler is about 30 years old, water heaters about 9 years old. Drywall has to be ripped out, we have to put an extra battery for the pump and possibly put a French drain system and a few other things. My father is a contractor and he estimated there’s about $20,000 worth of work just with the problem with the basement flooding. This all happened during attorney review and now it has me worried. We don’t know how many times it has actually flooded before and if it compromised the heaters and boiler. These issues that came up were obviously not present during the first showing. We went with the inspector and to our surprise the basement had about 6 inches of water. I’ve come up with a spreadsheet of how much it will take for me to fix this as soon as I get the property, but since it’s being sold as is I don’t know if I should even bother asking for $15k off the purchase price. submitted by /u/ng300 [link] [comments] source https://www.reddit.com/r/RealEstate/comments/eh

This would be my 3rd real estate purchase, however 1st that is a REO/Bank owned variety. The property sits in a desirable neighborhood (B rated) with good schools and new commercial real estate all around (shopping centers, new hospital etc). My agent I am working with said he has worked with the listing agent on another transaction earlier this year, and mentioned the asset manager who has this property will likely not budge much. My agent shared the property was listed fairly competitive (200K vs. homes in the neighborhood via MLS selling for 210-215 move-in ready) although no appliances convey, the flooring throughout would need to be replaced before move-in, and most importantly, my inspection revealed the HVAC and AC (both original at 14 yrs) are on their legit last legs. I was present for the inspection, and asked point blank to the inspector what his thoughts were about the home. He said if I was purchasing from another person, I would likely have more negotiating power on the

I'm hoping to buy my first rental property sometime in the second half of 2020. With that in mind, how soon before I intend on buying a property should I try connecting with a real estate buying agent? I feel as if I shouldn't search for someone too soon, and having them wait multiple months until I decide on a property to buy. And on the flip side, I don't want to find one too late, and exceed my favored buying window. submitted by /u/Dropitlolo [link] [comments] source https://www.reddit.com/r/RealEstate/comments/ehdwtt/how_soon_should_i_reach_out_to_real_estate_agents/

I’m planning to move to New York City and want to live in Manhattan. I’m only planning to be there for about a year. In my market (Phoenix) it’s significantly cheaper to buy than it is to rent. I’ve been looking on street easy in Manhattan and that definitely doesn’t seem to be the case after taking into account building fees and taxes. I was hoping I could buy a condo and then sell it or maybe rent it for a while and then sell it, but i don’t have a really good understanding of the market there so I’m getting cold feet. I’d appreciate any advice! submitted by /u/Mmmelanie [link] [comments] source https://www.reddit.com/r/RealEstate/comments/ehdrrh/cheaper_to_rent_than_buy_in_manhattan/

What level of insurance do you guys have on your rentals? Of course if you have a loan your required to have a certain level, but if you own it out right you could even just have liability. Or would you prefer to have insurance at a level to retrieve you're investment, or enough to pay you back the current market value. I've even thought about getting the coverage to be 10k less than my investment since I could still sell the lot for me 10k if I had a tornado. I'm pretty own to risk and I don't want to give a months rent strait to insurance each year. Interested in hearing your opinions though submitted by /u/theusersub [link] [comments] source https://www.reddit.com/r/RealEstate/comments/eh909x/level_of_insurance_on_your_rentals/

I'm looking to buy my first place within the next few years but prices are insane. I can afford fixer uppers and figure I'd use that time to learn how to be handy as well for smaller projects. I've even come across posts on redfin that would state that newly added rooms did not have permits which is a huge red flag for me. It doesn't seem like the headache of saving the money (if you even save any at the end after demolition, clean up, and patching up the wall, right?) is even worth it? If I do happen to buy a house without permits for a room, I'm guessing I'll have to tear it down if the city finds out? But how will the city find out? submitted by /u/stupidlypoopingfear [link] [comments] source https://www.reddit.com/r/RealEstate/comments/eh8xij/im_seeing_property_los_angeles_california_on/

The situation is as follows: We purchased a property where my mother put down 2/3 of down payment and my wife contributed 1/3. Title and mortgage all under my mother’s name. Monthly payments are split equal. The goal is to have equal money given between the three of us after closing costs when we decide to sell the property. All three of us are okay with this idea. We’ve spoken to one lawyer and she said we have to write up a deed and have it notarized, but she said this wouldn’t stand in court. If I do write up my own deed, anything special I should include? Do I any to have professional lingo in it? Any suggestion is welcome, thank you submitted by /u/alexshen1 [link] [comments] source https://www.reddit.com/r/RealEstate/comments/eh1rbk/how_to_notarize_a_deed_for_a_property_split/

Need inputs on whether to buy or not buy a house with accident during construction: A crane arm landed on the new townhome we are considering to buy. The house is being framed. They framed the first floor and are in the process of framing the second floor. The crane arm landed on the patio (being built) of first floor and broke the wall (living room wall that has the door to patio) and few studs (2/4 studs) which are being used to build the powder room. The builder removed the portion of wall and studs that are broken and put new ones. He said we can get an engineer inspect the house but not until the whole house is framed (pre dry wall). We are wondering if we should buy the house or walk out. Concern is any structural or framing damage (now or in future). 2.any issues with resale (disclosures etc etc.) submitted by /u/pete14162020 [link] [comments] source https://www.reddit.com/r/RealEstate/comments/eh1mp3/buy_or_not_buy_a_house_with_accident_during/

Hey, where would an American start when looking for European properties needing renovation? Hoping to find farm houses/ traditional cottages. I know it’s going to be country specific but I’m just starting to look and I’m keeping options open. submitted by /u/whillyer17 [link] [comments] source https://www.reddit.com/r/RealEstate/comments/eh0kzv/european_renovation_projects/

Edit: The property is entirely renovated and in good condition. Only normal turnover expenses apply. I’ve just been offered a management position on a 50 unit building purchase, which is currently fully occupied with each unit at half of the current market rate. (The property got a state grant for massive renovations, with the condition that rental rates would not rise for 15 years, ending Jan 1 2020). The owner wants to renew all 50 tenants at double their current rental rate when leases expire. It’s a mix of 12 studios, 12 one-bed, 12 two-bed, 12 three-bed, and 2 three-bed townhouses. Obviously, this will result in a lot of turnover, so what is the best way to handle this as the new property manager? Ex. A studio is currently renting for $350/mo, but market rate is $800/mo. submitted by /u/ThePermafrost [link] [comments] source https://www.reddit.com/r/RealEstate/comments/eh770x/best_way_to_double_rent_rates_on_a_50_unit/

Hello my SO inherited a property(land)from her grandmother whom was dealing w cancer Her grandmother came over one day and they all signed a quit claim deed transferring the property from Grandmother to my SO My question is does my SO own the property? It’s valued at id say 10,000 but her family members have ambitions to sell it and claim the money / piece I’m the one who has been paying the taxes on the property for about two years. Grandma has since passed away. submitted by /u/MaybeYesMayb [link] [comments] source https://www.reddit.com/r/RealEstate/comments/eh6oja/quit_claim_deed_help_question/

I am a realtor, and I'd like to purchase the home that I'm renting. I know that the landlord would be willing to sell. Heres the situation. It's a joint lease, and I want to get rid of the other tenant. Realizing that normally we have to go by the lease, but if half the leasees own the property, do I have to honor it? Obviously notice etc would be needed. I'm just not keen on co-habbitating with an ex, and 18 yr old kid, for another 7 months. submitted by /u/Steelepc [link] [comments] source https://www.reddit.com/r/RealEstate/comments/eh5xuo/purchasing_tenant_occupied_home_fl/

In March of this year, I moved into a townhome. I knew that there was a Supplemental Tax bill on its way. However, received two bills with different owed amounts with the same due dates. For the first bill, the first and second installment is $622. Due date for the first is 12/31. Due date for the second is 04/30. For the second bill, the first and second installment is $950. Due date for the first is 12/31. Due date for the second is 04/30. The only difference that appeared (at least to me) to matter was the Roll Year. For the first bill, the Roll Year is 18-19. For the second bill, the Roll Year is 19-20. Does the first bill occur because I moved into the townhome in March? March of 2019? I'm not an expert, here. So go easy on me. Thanks in advance! submitted by /u/On4thand2 [link] [comments] source https://www.reddit.com/r/RealEstate/comments/eh3s8j/supplemental_secured_property_tax_bill/

Today my wife and I went to see a property that we loved. It was everything we've been wanting and more (literally. More square foot than we had been looking at) after a period (over 8 hours of text and voicemail) of our realtor trying to contact the agent, we find out the house is already under contract and has been since the day before. the agent was out of the country so didn't bother to update it. If they had service to accept the contract and not the MLS, I think they should lose their license. Would you agree or disagree? Keep in mind it's 2019 and basically every plane has wifi. submitted by /u/b4mf74nk [link] [comments] source https://www.reddit.com/r/RealEstate/comments/eh3jpi/if_you_are_an_agent_please_do_your_job/

submitted by /u/Cyclotrom [link] [comments] source https://www.reddit.com/r/RealEstate/comments/eh34nd/where_do_i_find_out_what_is_the_average_cap_rate/

Hello, I work in property management. I am about to buy my first rental property, a duplex, in a soon-to-be thriving market. I have a friend who is well off and looking into a CPA and attorney before buying rental property. From my experience I don’t see this as completely necessary seeing as I’ve never seen anything become an issue to this extent. What do all of you think? The CPA I can see more beneficial than the latter, but on such a small scale as one property I believe my families’ CPA will suffice. Personally, I believe, at such a small scale, you’ll be losing more than you make with a lawyer. What do you think? submitted by /u/Spartakusssrs [link] [comments] source https://www.reddit.com/r/RealEstate/comments/eh30eo/cpa_and_lawyer_before_rental_property/

I was browsing redfin and saw a vacant lot for sale that used to have a house on the property but it burnt down a few years ago. I like the location and from my understanding, since there used to be a house, there should be a connection for water/power/sewer, right (I guess in theory. Would have to check permits and everything to fully know)? I'm not going to buy this land since I'm still saving up money but it got me curious... If I wasn't in a rush to build, could this be a decent buy? Location is good and there should be a connection for utilities. When I have enough saved up I could slowly build a house then maybe buy a tiny home to add in as an ADU if the city allows it for some extra cash. What are some things I should look out for other than permits? submitted by /u/stupidlypoopingfear [link] [comments] source https://www.reddit.com/r/RealEstate/comments/eh2x7r/pros_and_cons_for_buying_a_vacant_lot_that_used/

Like what is publicly on the real estate websites but in json format? I don't think I can but just checking. Can't get mls membership. submitted by /u/darkstarman [link] [comments] source https://www.reddit.com/r/RealEstate/comments/eh2sno/can_i_get_even_basic_json_without_mls/

I was told by my broker that owning a rental property may reduce my tax liability (through my Schedule E) submitted by /u/Cyclotrom [link] [comments] source https://www.reddit.com/r/RealEstate/comments/eh2r30/what_are_the_tax_benefits_of_owning_an_investment/

Hi everyone. My wife and I are exploring buying a bigger house for our growing family. Pertinent info: Annual salary ~ $140,000 combined Credit score ~ both over 750 I am a service connected veteran at 10% (plan on using VA loan) Car debt ~ $30,000 CC/Student loan debt ~ $30,000 We have approximately $140,000 dollars in equity in our current house. We plan on paying off the car loan and using the rest on the new house we are looking at. The new house we really like is priced at a little under $485,000 (bringing it down to ~ $385,000 after the down payment). We were told that it is not uncommon to buy a house on contingency of selling our current house. Is this true or are we looking at a difficult process? Does our plan make sense to you experienced folks? Please let me know if you need any further explanation. I don't usually comment much less start any threads. Thank you all in advance. submitted by /u/91w209 [link] [comments] source https://www.reddit.com/r/RealEst

Already have a decent idea of different ways I can do this but came here to see if any have done this in the past and how it went? I’m currently a freshman and living in a dorm this year; but was wondering what would possibly be the best ways to live rent free/make money off of rent while in college.. first idea to approach this situation is to try to find a place say 3 or 4 bedrooms to try to rent out for $1000-$1500 depending on what I can find. And then rent each extra bedroom out for $500-$600 a month to other college students. Any experience with this? Any experience with this situation and is it worth it to go through all of the trouble of basically being a landlord for the other roommates(I’d like to be in charge and collect the rent and just rent the whole place in my name because of potential profit/if one person gives a lot of trouble I can say they’ve got to go. Second idea I came up with today is to possibly ask around on Facebook, etc to see if there are any local ranches

I have $100k CAD for a down payment. Currently that amounts to around $76k USD. Together, my partner and I make around $160k(CAD) a year working in construction in and around the Greater Toronto Area in Ontario, Canada. We have no debt. We’re entertaining the thought of potentially buying property in the US. Thinking somewhere warm like Florida, or California, Utah, Arizona. We love the landscape and mountains of the west and figure we could live there for 6 months of the year. I work in film construction and know a few people who do it- but unfortunately they are not currently home to talk about it with us. If you have any pros, cons, advice, or thoughts, about what it’s like to own, invest, get a mortgage, legalities, etc... I’d love to know! submitted by /u/DeeWhee [link] [comments] source https://www.reddit.com/r/RealEstate/comments/eh198y/canadian_first_time_home_buyer_interested_in/

So I currently rent out an apartment for 1300 that I absolutely love. Love the amenities, location and high class feel of the place. I’m thinking about getting some real estate since I can find some good property under 200k. Would this be sensible to keep living in my apartment but buying a house with the intention of renting that out submitted by /u/thunder0j [link] [comments] source https://www.reddit.com/r/RealEstate/comments/eh08qm/renting_in_the_same_city_you_own_a_home/

I'm looking to purchase a home from a relocation company and had a specific concern regarding one clause in the rider agreement. I understand no responses here constitute legal advice or replace an attorney, I'm just hoping someone with more experience in this situation can shed some light. The clause reads: Buyer acknowledges that this sale is a corporate relocation transaction and that Seller's ability to transfer title is contingent upon Seller's ability to acquire contractual ownership of the property through a contract with the individual being relocated upon terms satisfactory to that individual and Seller on or before the closing date. If Seller does not acquire ownership, authority and/or obtain marketable title on or before the closing date, the Agreement may be deemed null and void at the option of either party. In that event, the earnest money or Buyer's deposit will be refunded to Buyer as Buyer's sole and exclusive remedy and Seller will be rele

My mother and I received a warranty deed from a family member with both of our names on it. My mother and I decided to sell the attached peice of land and split the profit 50/50. My question is... Will my mother and I have to pay income earned taxes on each of our profit from the land? I can't seem to receive a clear answer from my accountant. Thanks! P.S. This is my first post on Reddit. submitted by /u/bebopjop [link] [comments] source https://www.reddit.com/r/RealEstate/comments/eh0bjf/warranty_deed_tax_implications/

I'm looking to put an offer in on a house but I noticed that there are two military lots within close proximity on the tax map. One lot is about 35 acres and the other is 60 acres in size. I guess my biggest concern is not knowing what the potential is behind these pieces of land are exactly. What exactly is a military lot? submitted by /u/aerodynamicmagnet [link] [comments] source https://www.reddit.com/r/RealEstate/comments/eh01j6/what_is_a_designated_military_lot_on_a_tax_map/

I've posted questions in the past about real estate investing outside of the US, but it seems most people here are focused within the domestic market. If anyone is investing outside of the US, especially in developing markets, I'd love to hear where you conduct your research. As an American living outside of the US, markets in South East Asia, Eastern Europe, and South America feel more appealing to me, but the resources available to learn more about local laws, tactics, and find groups is minimal. submitted by /u/archer48 [link] [comments] source https://www.reddit.com/r/RealEstate/comments/egz36t/where_do_people_discuss_international_real_estate/

Say company A purchases company B. Company B name goes away and everything becomes company A. Does your employment history length all of a sudden reset since you are working for a new employer? Do lenders look at this as such? submitted by /u/redditsanchez [link] [comments] source https://www.reddit.com/r/RealEstate/comments/egw0ci/does_employment_history_length_reset_if_a_company/