I bought a condo in a 20 unit new construction building 10 months ago, I was the 2nd unit owner. Upon my closing I noticed that other units had their prices slashed up to 150k. I went from having purchased the 2nd least expensive unit to the 6th most expensive unit in the building. Today I find out that the penthouse unit in my tier is being listed with a rooftop space I don't have and an additional parking space for the same price for which I purchased my condo, ultimately devaluing my property. This is a price drop of 150k. Do I have any recourse with the developer selling this unit to protect my value? I think this is an excessive price drop in a short amount of time. submitted by /u/21stCenturyWriter [link] [comments] source https://www.reddit.com/r/RealEstate/comments/ex2gby/condo_developer_underpricing/

Hello I have a 2 bed 1 bath condo in mind I am thinking about a potential offer. Asking price is 220k, it has no rental cap. 280$ hoa fees and 2180$ tax it is on the west suburbs of Portland Oregon on a max (subway) line. Takes 30 min to ride. Built in 2007. It is near the tech companies (potential educated renters) I will move there, live in it and then may travel to overseas, in that case, I will need to rent it with as little headache as possible. My now realter will also be the property manager in the future when I rent the unit. A conservative rent would be 1350$ could be higher too but I try to be conservative. Deduct 280$ for hoa and 200$ for tax, my rental income would be say 800$ (roughly) Is this a good investment for someone who may move oversees and needs a reliable low maintenance, relatively newer condo ? I do not have the full cash, I will take a personal loan and close it in 2 years for the %15 of the home submitted by /u/GreenerCar [link] [comments] ...

Alright, I'm going to be honest. My husband and I started looking for homes (first time home buyers) and found one that was ridiculously perfect for us in the neighborhood we wanted to live in and got a little attached. They provided multiple inspections up front (WE GOT OUR OWN, not -that- stupid) and issues were there but it didn't seem like anything major. This house has been chilling on the market for a while (4 months) sellers are now living out of state. We put in an offer that included sewer line repair, covering our closing costs, and a bit off the top for the other issues (electric panel, water heater). Because we put in a very modest down (3%) I included a letter to woo them/convince them we were serious. Shit got weird fast. Agent said sellers were getting a counteroffer together but it wouldn't be ready until the next day. FOUR offers came in, one cash for list, one 10K above asking with almost no contingencies beyond the standard inspection/appraisal. Other ...

Hello, I have some questions but not really sure where or who to ask. I am ready to start investing into real estate but want to make sure I have what I need before it is the right time. Currently, I am 24 years old, with a 730 credit score, 20k in my savings, and have made a steady 60-80k a year for the past 3 years with my job. I have basically no debt, except I still owe about 14k on a 30k car. I am looking at houses in the desert in California that are brand new still being built, going for between $300,000 - $400,000. My plan is to buy one and immediately rent it out. What I figured was with 20k down on a 300,000 house, 3bed and 2bath. I could have a mortgage around $1,500 and rent it out for $2,000. This way the renters pay off the house for me, plus I make an extra 500 a month passive income. The only problem is now I'm gettin backlash on that prediction. Is it not that easy? What does somebody with knowledge and expertise in real estate think about this situation? Is on...

Hello, I have some questions but not really sure where or who to ask. I am ready to start investing into real estate but want to make sure I have what I need before it is the right time. Currently, I am 24 years old, with a 730 credit score, 20k in my savings, and have made a steady 60-80k a year for the past 3 years with my job. I have basically no debt, except I still owe about 14k on a 30k car. I am looking at houses in the desert in California that are brand new still being built, going for between $300,000 - $400,000. My plan is to buy one and immediately rent it out. What I figured was with 20k down on a 300,000 house, 3bed and 2bath. I could have a mortgage around $1,500 and rent it out for $2,000. This way the renters pay off the house for me, plus I make an extra 500 a month passive income. The only problem is now I'm gettin backlash on that prediction. Is it not that easy? What does somebody with knowledge and expertise in real estate think about this situation? Is on...

I'm pulling my hair out trying to figure out the total asset I'd have from a vacant $3,000 piece of land. Here is my problem I can only have $2,000 in assets to my name so if I'm buying a 5 acre vacant lot for 3g's how do I find my total asset cost? If y + z = x and x is asset what is y and z? submitted by /u/AngeredTwitchian [link] [comments] source https://www.reddit.com/r/RealEstate/comments/ex04p7/how_to_total_assets_when_buying_land/

Crosspost from r/legaladvice I'm looking to buy a condo in Bellevue, WA. The condo I've been looking at has an assigned parking spot, but it is labeled as handicapped, which I am not. Based on my preliminary research, the condo is required to have a certain amount of handicapped spots ( https://www.hum.wa.gov/fair-housing/disability-access-requirements ). Since it's technically illegal for me to park in a handicapped spot, what are my options in proceeding? What clause, if any, can I include to get this spot converted to a non-handicapped spot? Thanks for your help! submitted by /u/romanLegion6384 [link] [comments] source https://www.reddit.com/r/RealEstate/comments/ex019w/handicapped_spot_conversion/

I don’t know what I’m getting into- I found a house I like but my realtor has discovered the inspection findings from the previous inspection - and the seller has not repaired these things. I don’t know if they are $100 fixes or $5000 fixes. This is in brevard county Florida, it’s not a place that floods so water damage from flooding is not likely. I understand it’s well water I’m ok with that part. But I don’t know what these findings entail. We are already making an offer $20k less than asking price. Please advise! https://imgur.com/a/bikPz9k submitted by /u/Concept666 [link] [comments] source https://www.reddit.com/r/RealEstate/comments/ewzpxh/usa_fl_how_big_of_a_deal_are_these_inspection/

This is about a property in Texas. I looked up a property that husband and wife purchased together. I'm trying to understand how the title is held, either joint tenants with rights of survivorship or joint tenants in common. I imagine since the purchasers are husband and wife the answer is JTWRS, but I really cannot tell when looking at the document filed by the county. (Harris County, Texas) Any lawyers here that can point me in the right direction? submitted by /u/jell1fish [link] [comments] source https://www.reddit.com/r/RealEstate/comments/ewz4v3/question_about_title/

Don't know where to post my question, but I'm putting it here as well. Need some advice.. Recent homeowner. House was built 1954 and is still using galvanized steel for plumbing which last about 50-60 years. We had a leak in the slab more than a year ago and after the insurance claim, it got patched up. The problem still remains that we have the galvanized steel still so it's only a matter of time until another pipe burst happens. I got an insurance quote that is $1500 cheaper than the one I have, but they require that my galvanized pipe is replaced. Do I either wait for the next disaster in my finally renovated furnished home or do I replace the plumbing now and get the new insurance? My house is on a slab, so that complicates things. submitted by /u/peach____tree [link] [comments] source https://www.reddit.com/r/RealEstate/comments/ewz29b/need_advice/

I'm trying to buy a 135k house and the mortgage lenders want a couple bank statements to see how much money I've got. I have about 5k in the bank and 10k in cash. However, I have to pay my 2019 taxes so there will only be 1k in the bank which looks pretty terrible. How can I deposit the cash and make sure they are OK with it? Is there a way around this? Or will I be unable to buy a house until I get more paychecks from work to increase my checking account balance? All the lenders are telling me that they don't want to see cash deposits but I have a lot of cash I need to deposit somehow... submitted by /u/Paulx589 [link] [comments] source https://www.reddit.com/r/RealEstate/comments/ewy4os/trying_to_purchase_a_house_lenders_want_to_see/

Why do some companies ask for orders when applying for VA Loan? submitted by /u/thesouless33 [link] [comments] source https://www.reddit.com/r/RealEstate/comments/ewxuwo/va_loan/

I am considering bidding on a foreclosed property at a Sheriff's Sale. It's my understanding that in my jurisdiction all liens on the property will be satisfied at the sale, EXCEPT for federal tax liens. The owner's have a number of judgements against them for Ohio Taxes going back many years, so it's reasonable to wonder if they were not paying their federal taxes as well. How can I ensure there are no federal tax liens on the property? There are no liens (not even for state taxes) other than the mortgage appearing at the county recorder's office. I've read that the IRS might file liens with the Secretary of State, but they don't seem to know what I'm talking about. I've also called a local title company to inquire about a title search on the property, they said no, just go with the preliminary judicial report filed with the court (it doesn't list any federal tax liens). submitted by /u/OrsonAround [link] [comments] source https://...

Hi y'all im new to this community abd were looking to go out for a week in new england and we want a house that has railroad tracks in the backyard, thank you submitted by /u/UpstairsDebate [link] [comments] source https://www.reddit.com/r/RealEstate/comments/ewxgna/renting_an_house_by_train_tracks/

Hi. I'm in a situation where I'm selling a rental home and using the profit as a down payment for an apartment building. The apartment building sale is a friendly situation so we just need to make the 1031 activity happen. I'm wondering...is there an inexpensive option other than a realtor or attorney? My realtor (for the rental sale) wants 2% to facilitate it for the purchase but that is a big cut of $2,000,000. Thanks. submitted by /u/InstantFace [link] [comments] source https://www.reddit.com/r/RealEstate/comments/ewxjs6/inexpensive_1031_facilitator/

My dad had to work while the home appraiser came by, he told me to not tell the appraiser that the ac was having problems. Well I sorta forgot and said it wasnt working as well, how bad did I mess up? submitted by /u/Lordvenn [link] [comments] source https://www.reddit.com/r/RealEstate/comments/ewx7s8/house_got_appraised/

I have read alot about how buying new construction existing inventory (from Toll Brothers and the likes) can saved you quite a bit (if the house meets your requirement of course). However, I haven't seen any tips on any negotiating tactics if you are buying these inventory with cash. I'm a first time buyer in TX and I wasn't planning to use an agent. For example, the house linked below has already marked down from $280k to $249k: https://www.perryhomes.com/new-homes-dallas/home-details/devonshire/232/665041/ I supposed that they wouldn't want to go much lower on the price to keep the house price in the area steady. Considering the considerable price drop on some of these inventories already and I'm planning to pay with cash, I didn't think an agent could help much with negotiation. Might also be advantageous not to have one if I can get additional concessions from the builder. I know they would throw in some appliances if buyers go with their preferred lende...

We’ve been house hunting for several months now. We found our realtor through our friends, they were really happy with him so we figured we could work with him too. His office is a bit far from where we live, about 45-50 minutes away. It’s not terrible. But he does insist we go to his office whenever we want to put in an offer. We’ve only put in one offer so far, so this happened once. But we want to put in an offer on a house we saw last night. Unfortunately, my boyfriend has a wacky work schedule. So we didn’t go last night after viewing the house to put in an offer. It just wouldn’t have worked out time wise. So now we’ll have to go very late tonight to put in the offer. Luckily the owners are giving people till Monday before all offers are reviewed. I’ve asked multiple times if this process is something we can do over docusign or anything like that and have been told no, it would be best to go to the office to put in the offer. While I’m very aware we made this choice to work wi...

Hey, quick question - can you recommend some automated tool for long-term market analysis? I just want to have some global insight into this market without looking through ads manually. submitted by /u/lgmys [link] [comments] source https://www.reddit.com/r/RealEstate/comments/ewpm6c/market_analysis/

I am looking to sell my home and am looking at all options. I know OpenDoor and Zillow both purchase directly and I am getting quotes from them. Are there other similar cash buyers? My home is in a popular suburb of Raleigh, NC And yes I know FSBO and selling traditionally are alternatives and ones I am looking at too. I am just looking for info on cash buyers that would by-pass the traditional sale process submitted by /u/ma91pmh [link] [comments] source https://www.reddit.com/r/RealEstate/comments/ewp67m/alternatives_to_opendoor_and_zillow/

TLDR - Sell and buy again? Keep and rent out the OH house, while renting in CO? Keep the OH house and buy a manufactured home in CO? Help! I am moving from OH (affordable cost of living, low mortgage on my house) to CO (houses are expensive, would need to sell mine for the down payment). For the most part rent would be cheaper than a mortgage where I am moving, unless we get a manufactured home. This is a multi-part question... My current house is a small cape cod, 3 bed 2 bath I bought it for 80k and think I can sell it for at least 110k and if I do some updates I can sell it for 120k or so. 1 - Is buying a manufactured home a bad idea? They are affordable and even with the land rent they are cheaper. I would not need to sell my house to purchase one and I could rent my OH home out to our current roommate who is staying back. Is this better/worse than renting? Do you make anything when you resell a manufactured home? There are not a lot where I am from so they are foreign to me. ...

Traditional banks in the area won't want to take on the property due to the mobile home, but local portfolio lenders seem to be fine with it since they don't need to conform to Freddie/Fannie rules, but their rates aren't as competitive. Do I have any other options? submitted by /u/MetsToWS [link] [comments] source https://www.reddit.com/r/RealEstate/comments/ewpf33/usny_property_has_a_mobile_home_on_it/

I’m looking into getting a side job that I can work my own hours or schedule in addition to my full time job, and real estate seems like my top interest. My grandfather used to do this on weekends and made a decent amount of extra money. I know I will need to take the course and get my license but where do I go from there? Any advice? Is this possible? I also would consider eventually, in the far future, doing this full time if I thought it would be the right choice. submitted by /u/kp10795 [link] [comments] source https://www.reddit.com/r/RealEstate/comments/ewp9ii/how_do_i_get_started_in_real_estate_as_a_parttime/

I have seen a couple online, they seem sparse, and I would really like to be able to pour as much detail as I can I to a calculator to help see how outcomes might be impacted. I would be a first-time landlord as well as a first-time home seller. Thanks very much! 🙏 submitted by /u/Transposer [link] [comments] source https://www.reddit.com/r/RealEstate/comments/ewodp7/can_anyone_recommend_a_good_downloadable_excel/

If anyone has had experience valuing or buying a marina (i.e. waterfront property with dock/boat slips/industrial space)...please let me know. submitted by /u/seven-costanza7 [link] [comments] source https://www.reddit.com/r/RealEstate/comments/ewp0xa/valuation_techniques_for_marinas/

Hello Everybody Does anyone have tips how is it possible to invest in Tax Liens from europe? submitted by /u/wistumedia [link] [comments] source https://www.reddit.com/r/RealEstate/comments/ewonjh/tax_liens_investing_in_europe/

Hey there community, I'm 22 years old and I'm in my first year of the study 'technical business'. I'm very interested in real estate, investing, building a company and all those stuff. But I need some advice I guess. I don't have enough time to spend on developing knowledge about those stuff. How many time do you guys spend into financial development and what would you guys recommend to do? Just focus on all these subjects together or just read books about one thing first, and then the next one. I have the feeling I get too old to try all these things otherwise. Like I don't have enough time. Would love to hear some tips! submitted by /u/hrpoortinga [link] [comments] source https://www.reddit.com/r/RealEstate/comments/ewo5zs/22_years_old_student_from_a_poor_family_who_try/

Our land has some drainage issues due to heavy clay soil. Being a former zoning board member and having had training in water diversion, I'm keenly aware that water is a homes worst enemy. Our downspouts are already diverted out to the ditch, but we have pooling of water in the rear as the land slopes slightly toward the house which causes me some concern. I've had a landscape architect draft me a plan for a rain garden to catch the collecting water. Aside from being a utility, it will look great. My question is, has anyone else experienced similar issues and installed a rain garden? If so, is there a way to calculated a ROI on such an item? submitted by /u/dimplesgalore [link] [comments] source https://www.reddit.com/r/RealEstate/comments/ewn5gm/roi_rain_garden_installation/

Anyone know how I can get a hold of one in the Portland, Oregon area? submitted by /u/Stephbing [link] [comments] source https://www.reddit.com/r/RealEstate/comments/ewk867/va_specialized_realtor/

Looking to co-invest with a sibling on a rental property. There is a possibility that they might live in one unit; it’s a duplex. My question is what are the common structures for a deal like this? Which one is most recommended? So far what I am thinking about is A) purely a financier role, I lend them money and they pay me back on an agreed upon schedule B) be invested in the property while we own it. Do we take the ratio of what I bring to the table vs what they bring to the table and then just apply that ratio to everything?eg. any equity made on a sale, taxes, mortgage payments, repairs etc. submitted by /u/kapitanemo [link] [comments] source https://www.reddit.com/r/RealEstate/comments/ewjmh8/how_structure_deal_with_sibling/

I’ve been paying off student loans and finally will be in a great position to buy first house. Wife stays at home and I have two kids with one on the way so need a 4-2.5. Average home cost in good school district in my area is about $275-300k. My gross income is ~$130k a year but likely rising the next couple of years and plateauing around $150k if I stay at same position. I have no debt except about $20k in student loan payments that will be gone in next few months. Own a few cars worth in the $15-20k range but no other major assets. Good savings with down payment of 30k. Renting currently and DTI is around 10% with my rent payment included. I am comfortable going up to DTI of 25% in my current situation but have lender trying to sell me being pre-approved for houses that would take DTI up to 35% or more. Housing prices are definitely going up in this area. A friend built a house a few years ago for $270k and after four years was appraising for $320’s. I feel like I should get in th...

My house is fairly common in my city (literally three doors up from us is the same build), is there a way to search real estate listings by exact footage so I can see what other people have done with the same space? Trying to get ideas for things to do with ours. submitted by /u/InternetWeakGuy [link] [comments] source https://www.reddit.com/r/RealEstate/comments/ewh7od/is_there_a_way_to_search_houses_by_exact_square/

My fiancee and I make around 30k a year between us two. We are both 21 years old. He doesn't have much credit history but I do due to student loans and a credit card and my fico says its 669, however Credit Karma says 738 (I don't pay attention to that one). We work in a very flexible job where we get to pick up or give away as many hours we want. However, we'll be wanting to work as full-timers soon if we can buy a house which would bump our income into the 45k combined. I've been looking into buying a house after being constantly kind of "betrayed" by my father who keeps on promising us a mobile home he has but since my 30 yr old brother lives in it, he refuses to kick him out. We wanted to save money of rent by living in a mobile home, however it seems that won't be possible so we're spending on average around 1,200k in rent monthly. Would it be possible for us to skip that step and apply for an USDA loan? We have savings but not enough for a 20%...

Today, I received notice from our County Treasurer explaining my property is subject to foreclosure and behind on property taxes. Upon further study of the material, it appears our house occupies two parcels, a small section to the north (10% of the physical house occupies here, .01 acre), and a large section south (90% of the physical house occupies here, .04 acres). Evidently, the mortgage does not include the northern parcel, which would explain why our property taxes were not being covered - on documentation provided, the owner and taxpayer are listed as the previous resident and owner. At this point, I have alerted my mortgage company about this, and will contact the County Treasurer tomorrow morning as she's out for the rest of the day. What other actions should I take at this point in time? Also, I have some questions regarding this situation: What is the difficulty which may be involved in taking ownership of this parcel? Will this be an additional purchase with an addit...

Has anyone had any success with the Nextdoor neighborhood discussion group? I am contemplating sponsoring a zip code which allows me to advertise my real estate services a couple of time a month and post listings. Has anyone connected to a seller of buyer on the Nextdoor platform. Thanks. submitted by /u/no_hassles [link] [comments] source https://www.reddit.com/r/RealEstate/comments/ewekur/nextdoor_usage_by_real_estate_agents/

Hi, i have a piece of property (located on a corner street )that is gated. It has parking located on all sides. When i purchased the property it was not gated and tenants entered and exited freely from all angles kind of like a corner gas station. When the gate was put up, it allowed entry and exit on that one spot. However, i am not sure if it is legal. The side walk curb is not flattened but worn out from so many cars. What document do i need to look at to see if it is legal? A survey? Who can i talk to? It is the only way to get into the rear parking. However the city has plans for that side of the street and im not sure that would allow it. Thanks for your advice submitted by /u/deez29 [link] [comments] source https://www.reddit.com/r/RealEstate/comments/ewgwt8/parking_entry_legal/

Hey all, just picking up my first condo with conventional financing (hooray). Looks like I will be travelling extensively for work this year and wondering it there are any stipulations for how long I have to wait before I can rent? I know FHA has strict rental contingencies, so curious what the deal is with conventional. Our closing date is next week. Happy to provide any other info I can. Thank you! submitted by /u/loshofficial [link] [comments] source https://www.reddit.com/r/RealEstate/comments/ewgoqs/how_long_before_renting_on_a_conventionally/

Someone told me to post here . My mother called me today to let me know that she sold her house. I was confused. I thought she didn't want to sell it anyone But she said. Someone called her and they talked about the price and They settle on a price. He sent her the contract and they both signed it. https://imgur.com/a/oowSgGb This is the copy of the contract. This sounds so so fishy. I'm hoping it's not a scam. But can anyone enlighten me or help me? Because I only was able to find out the Lawyers Place. (Which I'm going to call tomorrow to confirm about the buyer) But any other information about the Buyer. I can't find it. No reality address or agency number. Or anything submitted by /u/King_Ding_Dong69 [link] [comments] source https://www.reddit.com/r/RealEstate/comments/ewfmo2/random_investor_called_up_my_mom_to_sell_her_house/

I'm a self-employed contractor that earns checks and cash. RP-Funding told me that they don't want to see any cash deposits from the last 2 months when applying for a mortgage... ​ Are there any private lenders that don't have so many upfront requirements? I'm looking for a lender who will check my credit, take my downpayment, and approve me. Do those still exist? ​ I understand they might require a higher down payment cost + higher interest rates, but I'd be fine with that. ​ Any help/info/advice is appreciated. Thanks! submitted by /u/Paulx589 [link] [comments] source https://www.reddit.com/r/RealEstate/comments/ewf6yj/who_are_some_private_lenders_that_dont_have/

submitted by /u/Aerial_penguin [link] [comments] source https://www.reddit.com/r/RealEstate/comments/ewf4r4/thoughts_on_becoming_a_notary_signing_agent_seems/

Hi in NJ I know if you keep your house for 2 years as your primary residence and go to sell there won't be any tax on the gains right? (provided you make under 250k) Well someone warned me if I rent a room in the house then claim the depreciation I might not be eligible for this? Does anyone know if that's true and what the stipulations are? Thanks submitted by /u/XFirePhoto [link] [comments] source https://www.reddit.com/r/RealEstate/comments/ew5d1y/would_renting_room_in_your_house_disqualify_you/

Purchased a foreclosure from an online auction back in September 2019. Sent over earnest money deposit. It’s now almost February 2020 and we still haven’t closed due to county plumbing requirements to be fulfilled by seller prior to being sold. Finally found a plumber who said it would be done a few weeks ago. Apparently It’s been difficult finding a plumber able to do the testing. Signed an addendum stating we would close by Jan 24. I’ve signed about 5 of these over the past several months and each date always passes. Now they are saying plumber will fulfill requirements first week of Feb. At what point can I just walk away and get my earnest money deposit back? Last addendum says close by Jan 24. Is the entire contract void now? submitted by /u/thegreatestmeow [link] [comments] source https://www.reddit.com/r/RealEstate/comments/ew4r7a/walking_away_from_deal_after_seller_delays/

Reading from a California Real Estate book, it first talks about how a real estate agent can make suggestions as to a preferred escrow company for both the buyer and seller. Then it says: “It is imperative that you, as the salesperson, disclose in writing any shared interest that you or your broker have with the selected escrow company.” What is meant by “shared interest?” At first I thought it meant something along the lines of getting some kind of compensation if a particular escrow company was selected. Until I read further on down where it says: “A real estate licensee is prohibited by law from receiving any “kickback” for solicitation of escrow business. (This also applies to claiming a fee or compensation for referrals to title insurance, home protection companies, and pest control firms.)” What then is it referring to when talking about shared interest if the interest is not a fee, kickback, or any type of compensation? submitted by /u/XiangJiang [link] [comments]...

I’ve been comparing definitions side by side, looked at examples but it is still not clear to me what the differences are besides one being good and the other bad for the most part. What I’ve found is that a referral fee is a commission paid to a person responsible for bringing a customer to your business often tied directly to a sale. A kickback is a payment made to someone who has facilitated a transaction or appointment. They sound similar to me. How to know when it’s one or the other or when it’s good or bad? submitted by /u/XiangJiang [link] [comments] source https://www.reddit.com/r/RealEstate/comments/ew2vvb/difference_between_referral_fee_and_kickback/

I'd like to purchase an old, concrete repair shop and convert it into my home. I have enough cash to fund the project, but I would like to be able to take out a mortgage on the finished product to recapture the equity. I'm concerned that despite succeeding in creating a comfortable, quality, code-conforming residence on the inside, the project may not appraise well as a home if the building keeps it's commercial silhouette on the outside. How might such a building be evaluated? The property is zoned residential. The existing building is sound structurally, it has all the necessary utilities, but it looks like a simple concrete box with industrial windows. The surrounding neighborhood it full of mid-century bungalows. I'm sure I could add paint and some residential flourishes, but I don't want to add a pitched roof or any significant architectural language. Excusing all the other feasibility questions (budget, soils, permits, etc.), what can I expect? Is an apprai...

I live in the Bay Area and work in the software industry. My mother lives in my hometown, in upstate NY, in a duplex apartment where she's been for over 20 years. Her landlord, a nice woman about my mother's age, lives in the adjoining apartment. She's owned it the whole time, and she and my mother are friendly. The landlord has had some health issues over the past few years, and generally seems to dislike being a landlord; I suspect she might be interested in a sale. My mother would like to stay in the apartment for good, and she agrees that the landlord might be interested in selling. So, I want to buy the house. I've never bought real estate before. I have plenty of cash (I could buy the house outright, if I wanted), and excellent credit. In addition, I worry about the possibility of disruption in my mother's life should the landlord decide to sell. I'd like to be able to make the landlord a reasonable (even generous) private sale offer, and have the land...

So basically im almost 18 and i plan to move out with my brother and one of my friends to get an apartment but my friend is still 16 turning 17. And im tryna figure out if hes able to pay rent legally or anything or if im able to just let him pay a third of rent under the table or something. Does he need to get emancipated and go through a crap ton of bullshit or can he just crash at my apartment and pay me so i can pay the landlord? Idk if this is the right place to ask about this but someone lemme know if they have any info about this submitted by /u/Sandy-J-Lopez [link] [comments] source https://www.reddit.com/r/RealEstate/comments/ew0l72/moving_out/

Hi does anyone have experience buying property in the Philippines? Is it easier leasing out to locals here or to expats? In one location, BGC, there's a large BPO INDUSTRY. Other location would be Makati, there's more Expats, Chinese POGO industry. submitted by /u/HeyGoody [link] [comments] source https://www.reddit.com/r/RealEstate/comments/ew07u5/in_the_philippines_buying_property_easier_to/

I am currently in the housing market for the first time and have been working with a real estate agent. They have been very helpful providing market knowledge setting up viewing and tours. However, almost all of the listings they have shown me are also on websites like redfin where i could set up tours myself. I also have a family member who has been a mortgage lender / broker for many years tell me that instead of using a real estate agent, that we should find it on our own on redfin and that they could put in the offer for us and give us the commission the buying agent would normally make. I believe they have done this in the past for other family members. My concern is that my family member lives in a smaller town suburb in a different part of the state and are not familiar with the hyper competitive SF housing market. However, this family member has 25 years of experience in mortgage lending and RE brokerage. If I could truly save 30k or so by going with the family member like th...

I'm not buying my forever house, but I'm selling the one I'm in to get to a better neighborhood and a better home. So, I was approved for a mortgage. I have two options. One is the 10/1 ARM at 2.15% but I would have to pay it off or refi before ten years is up. On the other hand, I have the 30 year conventional at 3.24% my credit union said I'd save about 13k on the 10/1 ARM and then could just refinance if I'm staying and didn't sell. Thoughts on this? I feel like it is a bold move, and from what I understand helped create the housing crash in the earlier 2000s. But on the flip side savings of 150 a month adds up. submitted by /u/rettribution [link] [comments] source https://www.reddit.com/r/RealEstate/comments/evyw6p/arm_101_or_conventional/

Need some advice on this stuff I’m dealing with. I got with a realtor and found a home I liked. Told her I’m a newbie, but I’ve been trying to get educated on the basics. We did a walk through, did the inspection(housemaster) and I took a trusted friend who has been working on homes forever. He let me know that it’s modular and they cut corners big time. He said if I buy it, the resell will likely be bad news. I went ahead and signed off saying I’m taking it as is. Two days later, my lender called me and said the county is calling it manufactured/mobile and that my loan will be denied. I knew that it’s modular and took this as a sign to get out, because I was hesitating but signed off. Rookie mistake. The lender is also new to lending, which I did not know and found out today. And then I get called again and I’m told I can get a conventional loan for modular but I told her I just want out. My realtor is telling me we might have to get an attorney involved because i signed off on ta...

I am under contract for a new construction in a multiple-unit building, and the appraisal came in under the contract. I thought I had a good deal, even with the contract price. Some details: Contract started 12/26 The listing price was $549k The contract price was $535k The appraisal came in at $525k There are 12 units, only 4 are under contract at the moment It appears to me that the comps used in the appraisal are off, so we can potentially appeal the appraisal, and my agent agrees, but others have said that's not going change much. The developer said they will not reduce their price, but I was told that's a very bold statement to make, and that they may actually do so if threatened to leave the contract. It's my understanding that they don't want to sell too low, because it will impact every unit in their development moving forward. i do not, however, want to pay $10K out of pocket. How likely is a reappraisal going to change things? Will the developer rea...

This has been dragging on since November/December so I'm fuzzy on the pieces. We were selling a house, I started a new job, we had to move into a shitty Airbnb, etc. so I'll try to recall what I can. I have it in my email that we signed our Purchase Offer on 11/22/19. The bank sent us a list of items they needed from us on 12/27 which we completed by the 29th. The loan was started on the 2nd. We had to have the house reappraised for some paint touchups, which happened on Monday, but the report didn't make its way to the bank until today. We won't be clear to begin closing, I guess, until tomorrow so Friday basically isn't happening. It'll likely be a week later. Initially, we'd been told early in the process that 1/15 would be possible which impacted when we set our own house to sell. I feel like our realtor back home was much more knowledgeable than the one we located in our new "home" because every call she made, from the amount we'd make ...

Now having to pull out of a house because the appraisal came in too low to negotiate on and the seller won't move. We have spent months looking for houses with every decent house being snatched up (in the dead of winter) before we can even put in an offer. (We have also had several people let us see houses only to find out that they were under contract so they just wasted our time). For the area, all houses are priced similarly, especially for the size we are looking for. We finally found a house that is updated with all mechanical and cosmetic, the inspections are near perfect but then the VA appraisal killed it. Having seen the prices and condition of many comparable properties (all built around the same time), I am seriously just wanting to give up on finding/buying a house, especially if all the houses in this typical price range are going to be swatted down by VA appraisal. Like if this one did not appraise well then how are the others we have looked at ever going to appraise...

Currently in Indiana with military orders to move out of state within 6 months. Plan on putting our house up for sale and renting it out. Since this is our first time renting and we will be out of state, plan on using a property manager. What types of things should I look for in a property management company or manager? Any red flags I should be on the lookout for or management fee percentage I should shoot for? I've reached out to 3 companies and so far all three request 10% of monthly rent. submitted by /u/Digiorno_Dan [link] [comments] source https://www.reddit.com/r/RealEstate/comments/evxqde/what_to_look_for_when_shopping_for_property/

I'm in Abilene TX & have never bought a home in my life so I will admit, I'm no expert. We went and saw a house tonight that was put on the market in Nov. 2018 for 210k. The house was built in 2016. Owners didn't note any repairs or anything done to the house but have listed it at 224k which, to me, feels a bit high. This is 129.00/ square foot and most places near there are selling for around 130.00/sq ft for but they're brand new builds. We asked realtor about pricing and she said that the listing realtor looks at all of that before they make the price and that it seems pretty comparable to new builds on the market. I understand her logic but I feel like it's kind of a cop out. It's not a new build. It's not in terrible condition by any means but the house has been lived in and has some wear and tear (plus a septic that'll likely need cleaned out). She didn't deter us from putting in an offer, or even negotiating, but I just want to be sure w...

At a move out inspection meth paraphernalia was found in one of the units. The property manager had the unit inspected for meth and it came back positive. "The samples from the property came back at 720.0 µg/100cm²" Can anyone tell me about the process? Estimated time I should plan for it to take and cost? The unit is around 1300SQft. What steps can I take to make sure I'm not getting swindled by the decontamination company? I've been told its a shady biz. submitted by /u/TGtrainer [link] [comments] source https://www.reddit.com/r/RealEstate/comments/evvwfm/meth_decontamination_questions/

I consider myself a very visual person and find it difficult to properly picture how I might place my furniture and things in an unstaged house, which makes it really difficult for me to analyze one during a viewing vs a property that's already been professionally staged. What kinds of things can I do to better make decisions on unstaged houses? submitted by /u/hottubtimemachines [link] [comments] source https://www.reddit.com/r/RealEstate/comments/evvwyh/how_do_i_properly_analyze_an_unstaged_house/

We've been in our current house for 2.5 years and we are selling, closing set for 10 February. It has been our primary residence the entire time, and the first home we've ever owned. What taxes can we expect to pay next year from the proceeds of the sale? ETA: USA, Oklahoma, Tulsa County submitted by /u/88ajoy [link] [comments] source https://www.reddit.com/r/RealEstate/comments/evvulb/question_regarding_taxes/

I refinanced my mortgage in 2019 with a new Lender. Do I need to file a new homestead exemption? submitted by /u/duke9350 [link] [comments] source https://www.reddit.com/r/RealEstate/comments/evvu2p/refinance_mortgage_homestead_exemption/

Can anyone recommend the best book for REIT investing. I’m looking to get into a career in this field and was hoping to get a full insight submitted by /u/tohon123 [link] [comments] source https://www.reddit.com/r/RealEstate/comments/evvi6r/books/

Hello everyone. I have the option of buying a building at an appraised price from 2 years ago at 490k. However, in the appraisal (Paid by the seller), there was an "extraordinary assumption" that the building will be made handicap accessible. The building is currently not handicap accessible and would cost roughly 100k to build a handicap ramp and restroom. I can also have the building reappraised and buy the building at the new appraisal price. My question to you is how likely is the appraisal price to go lower without the "extraordinary assumption" and with a neutral payer. submitted by /u/DrDoom_ [link] [comments] source https://www.reddit.com/r/RealEstate/comments/evvbyc/us_question_about_appraisal/

Wanted to hear your opinions on the negative side of applying for/using a FHA loan at 3.5% on a property. I'd live there for a year or two and then use it as a rental property to pay off the mortgage and hopefully receive a small passive income. If you could use numerical examples so I can picture your argument I'd really appreciate it submitted by /u/jmatus13_ [link] [comments] source https://www.reddit.com/r/RealEstate/comments/evuzyu/fha_loan_downside/

I live in houston & i am in the middle of getting my license. i am estimating i get it in May. but i don’t know what brokerage i should go to, i don’t really want to pay a high fee, i work part time so i’ll be saving money while working. submitted by /u/peyton670 [link] [comments] source https://www.reddit.com/r/RealEstate/comments/evih7u/new_real_estate_agent_advice/

I just recently moved into a home rental that has been infested with bed bugs. Is there any way I can break the lease and get out of here as soon as possible? (WA) submitted by /u/Dargia [link] [comments] source https://www.reddit.com/r/RealEstate/comments/eviajf/bed_bug_nightmare/

Our offer on a fixer trust sale was accepted TODAY. Yay! Because this was a very hot property we had offered a 15 day escrow and waived inspection and due diligence contingencies but still have our loan contingency in place. Despite asking multiple times about the status of solar on the house (leased, owned, etc) we couldn’t get any information from the listing agent or trustee prior to offers. No one seemed to know. Now that we have an accepted offer we’ve found there is a lien on the house for the solar. That’s the only information we have until the trustee investigates. We have not yet transferred our earnest money yet and are concerned about this solar possibly being $20k in assumed financial responsibility being that we agreed to buy “as is.” Our agent thinks we still have a safety net in our loan contingency because a lender could argue that assuming the lien debt changes the deal and won’t fund us. Are liens included in “as-is” properties? What possible scenarios can occu...

I'm 26 years old, I've been a licensed agent for 3 years now, in those 3 years i've done 96 transactions, 74 rentals and 22 sales, ~12.5m in total volume with over 6m in 2019. How does Redfin calculate your salary amount? Would you recommend working for Redfin to an agent such as myself? Do you feel capped as far as salary goes? Is it fairly easy to get hired at Redfin or are they actual pretty tough when it comes to the hiring process? submitted by /u/JustWannaSee35 [link] [comments] source https://www.reddit.com/r/RealEstate/comments/evhiri/questions_for_redfin_agents/

Bought a house few months ago, single family in a very good school district. Didn’t realize until we moved in but holy shit a plane literally goes overhead some days like 3x a minute. In one day it could be up to 300x a day. It feels criminal. It’s 12 miles from the major airport so no way in a million years would I have expected this to be an issue. I filed 2 complaints with the airport ombudsman like 2 months ago but no responses at all. What do I do in this situation. For some people it may not be an issue but I can’t stand it. Happens basically 3 days a week sometimes on weekends it is very loud. I can see the planes approaching they are pretty low for 12+ miles from the airport, the planes could clearly go elsewhere but they come over us only on those days. Airport has a flight map so it’s easy to see them coming straight over our heads it’s literally a direct hit every time. submitted by /u/starkmatic [link] [comments] source https://www.reddit.com/r/RealEstate/comme...

My wife and I bring home 12.5k a month total. We pay no taxes as it's VA money. Because I'm disabled, I pay no closing cost nor insurance per the VA Loan. New law has no cap on down payment for first time users. What am I looking at? The home is not built yet, and that's the starting price .. around 1.4m for this particular home. We have 300k for down payment and our credits are above 700 with absolutely no debt. Any help would be much appreciated. submitted by /u/Soft-Spot [link] [comments] source https://www.reddit.com/r/RealEstate/comments/evhnsw/can_we_afford_a_15_million_home_with_300k_down/

I had a question and thought this might be a good place for feedback. My wife and I are in search of our very first home to purchase. We seem to have (mostly) same taste in homes styles with one exception. Size of homes and surrounding neighborhood. In my opinion, I think a smaller home ( 2 bedroom 1 bathroom and a big back yard) in a nice neighborhood is the best way to go. She thinks a bigger home in a not so great neighborhood (3 bedroom 2 bathrooms) would be better choice. If you guys had your pick, what do you ways think would be the best route to go? Feedback would be greatly appreciated. submitted by /u/FineUse [link] [comments] source https://www.reddit.com/r/RealEstate/comments/evhal8/small_home_good_neighborhood_or_big_home_not_so/

As the title says, I want to develop a brownfield site on the water in Rhode Island. I have never done any real estate development, but believe my business plan is sound, and I am currently working with a developer with previous experience. The current owner is the polluter. I mainly want the land for parking. What are some questions I should be thinking about. I’ve left this very opened ended to allow for any thoughts/questions on development, developing a brownfield site, developing waterfront property, etc. I’m interested to hear everything you all have to say. Thanks. submitted by /u/MakeTomorrowBetter [link] [comments] source https://www.reddit.com/r/RealEstate/comments/evh4i9/i_want_to_develop_a_brownfield_site_on_the_water/

My mom is finally selling the family home. My grandfather built it and it was left to my dad, so the house has never been available on the open market. We are thinking of selling it to a family member so we are not sure if we are going use a realtor for the transaction or not. How else can we get decent comps to price right when the houses all around that are on the same size lot also have not gone through a public sale? In NE Ohio, if that matters. submitted by /u/puddin71 [link] [comments] source https://www.reddit.com/r/RealEstate/comments/evh7nx/best_way_to_see_a_list_of_decent_comps/

I live in a condo with less than 20 units, so the owners all know each other. I may have to move soon and was contemplating renting out my upstairs unit-A. The unit-B below me is already being rented out. I was considering to use the same property management as unit-B, thinking should any issues arise between the units, access and red tape would be super easy if it was all managed the same. I'm friendly with the owners of unit-B and they have been renting out their unit for a long time. Are there any downsides or risks to this I should be aware of? Thanks. submitted by /u/someonesaymoney [link] [comments] source https://www.reddit.com/r/RealEstate/comments/evh760/anything_negative_to_use_same_property_management/

This didnt happen to me but to someone i know — it seems like a very unorthodox situation but tell me if you have seen it it and share your feelings. 2nd mortgage - very small - under $50K with a major national bank. 1st mortgage - over $200 K is with a really sleazy lender. House was appraised over $400K Lender #2 was allowed to conduct a foreclosure sale, with the stipulation that the buyer has to “take on” Mortgage 1. A foreclosure sale was conducted in Spring 2019. The buyer won with a bid of $59,000 and this is the reported sale price with the county / city. The buyers are listed as the owners of record. Fast forward to late 2019. Lender 1 (again with a horrific reputation) either is reneging on the deal or could not qualify the buyer / new owner They are now suing in a foreclosure, husband and wife that bought the property and the previous owner. The foreclosure is stalled right now because Lender 1 cannot locate the previous owner. The only thing i could think of is Lende...

I’m looking to buy a house as my primary residence and I’m specifically looking for a house that needs some work. There are a lot of flippers in our market and I don’t trust the quick work that most of them do so I would rather buy a house that they haven’t done and do it myself. I’ve repeatedly been beat out on full cash offers, even one that was $10,000 less than mine ($5k over asking) so I’m wondering if there’s anything I can do to help my cause. I’ve considered writing letters to the owners for a personal touch but a lot of these go so fast they wouldn’t get it until after they accepted another offer. Any other advice on getting to those types of houses with so many investors? submitted by /u/watergator [link] [comments] source https://www.reddit.com/r/RealEstate/comments/evg30i/how_to_compete_with_investors/

I am going to refi my own home loan. But with rates being low, if a bigger home becomes affordable I would like to move. How long do I have to stay put before looking ? submitted by /u/anewdogpanicneedhelp [link] [comments] source https://www.reddit.com/r/RealEstate/comments/evg55p/how_soon_after_refi_of_owner_occupied_home_can_i/