I have been thinking about buying a vacation condo along the coast of Washington. Several of the condos mention they are rented nightly to tourists and that if I wanted to use my own condo I would have to pay a "small" nightly fee. First off, can I turn the condo into a private (IE no rentals) use condo? Second, what is the "small" nightly fee? And why do I have to pay a fee to use my own unit? submitted by /u/Iamnumber6666 [link] [comments] source https://www.reddit.com/r/RealEstate/comments/fbqmsb/vacation_condos/

There's an extra concrete driveway adjacent to my current rental that the landlord says we aren't allowed to use. He was thinking of putting a tiny home on it himself, but he's super disorganized and I doubt he'll ever get around to it. It got me thinking, though, that I should offer to buy that area off him and just build something on it myself. I'm totally new to this, but owning a tiny/affordable home in an urban area has always been something of a dream of mine, so I'm curious to see if there's an opportunity here. Thank you everyone in advance! EDIT: To clarify, this would require splitting the property into two APNs as the driveway is currently part of the property that contains house I am renting. The driveway is roughly 20'x40'. submitted by /u/fuzzyoatmealboy [link] [comments] source https://www.reddit.com/r/RealEstate/comments/fbqa9w/currently_renting_and_thinking_of_offering_to_buy/

submitted by /u/she212 [link] [comments] source https://www.reddit.com/r/RealEstate/comments/fbq33u/why_is_it_some_realtors_dont_show_listing_price/

Buyer walks shortly after inspection, buyers agent does not give any reason just says they are cancelling the contract. Refuses to give any information at all. Nothing. All communication has been respectful and seller has been accommodating for buyer and agent. Any thoughts? I have sold many houses and have never encountered this cold shoulder approach from a realtor. submitted by /u/jasonfauerbach [link] [comments] source https://www.reddit.com/r/RealEstate/comments/fbptqw/fl_how_common_is_this_scenario_and_what_are_your/

We are under contract for a home and are almost at the end of our inspection negotiation period. Unfortunately the inspections revealed a lot of expensive issues. The sellers have agreed to all our repair requests, but want us to complete some of the more invasive (like some serious structural work) post closing with a check made out to the contractor that provided the quotes and to us. I foresaw this coming and had a conversation with my lender about it prior to this. I was told that repairs post inspection would not be ok and there was really no “above board” way of doing this, even though it is commonly done without the lenders knowledge. We are not willing to do anything the lender isn’t going to sign off on because it isn’t a small amount or minor work. And because duh. Am I being unreasonable or is there something I’m missing? submitted by /u/RadioNights [link] [comments] source https://www.reddit.com/r/RealEstate/comments/fbpiyj/repairs_after_closing/

What is the accepted term for a door which has a double locking fixture like a deadbolt which only opens from the inside in real estate? I've been stalked recently and I'm having trouble finding the right building with only double lock. submitted by /u/amutualravishment [link] [comments] source https://www.reddit.com/r/RealEstate/comments/fbo0c7/term_for_double_locked_with_inside_only_exit/

Viewed a 3-story house as a prospective buyer and noticed that much of the popcorn ceiling on the top floor (under the attic) is covered with small anthole sized holes (see links for photos). https://i.ibb.co/gJ7GWyc/E17-FF364-7-A63-406-E-A81-D-2-D31007749-E5.jpg https://i.ibb.co/dD49rc5/55-FBAAEF-F0-D5-4-CBB-8152-86-F3042-F9-FB5.jpg They aren’t concentrated in any one area, but randomly scattered around most of the ceiling. The popcorn ceilings on the other floors don’t have this issue. The house is just under 20 years old. What would be potential causes of these holes? Is this something I should be concerned about? submitted by /u/PullTilItHurts [link] [comments] source https://www.reddit.com/r/RealEstate/comments/fbnqct/popcorn_ceiling_holes/

A flipper has offered to buy our fixer upper house, but she wants us to let her start work on the remodel BEFORE we go to closing. Like she wants to get contractors in there right this minute. Am I the only one who thinks that's batshit crazy??? Our biggest concern is what would happen if she decided to back out for some reason, after doing lots of work to the house. We're even concerned it might be a scam where she's planning on backing out, then charging us for the work she did. Are our concerns justified? submitted by /u/thorosaurus [link] [comments] source https://www.reddit.com/r/RealEstate/comments/fbnpn6/does_this_sound_fishy/

submitted by /u/realmisc [link] [comments] source https://www.reddit.com/r/RealEstate/comments/fbmdc4/how_soon_after_signing_the_sales_contract_does/

I would like to know if it was possible to switch to a conventional loan when u are in the middle of an appraisal? And they find something wrong but you really want the house so you’d like to finance the issue down the line by taking out a personal loan. Could I switch from a fha 203k to a 97% conventional loan? Would that be possible? submitted by /u/Actual-Maize [link] [comments] source https://www.reddit.com/r/RealEstate/comments/fblkev/id_like_to_ask_a_question_to_anyone_with_this/

Hello great minds I have a question for you guys. I’m looking to purchase a property from my parents hopefully at a 10-15% discount. I’m in California so the price will still be $600-650k. I’m looking for any suggestions on ways to transfer or save cash on this transaction. I don’t have the income to qualify for the entire loan as a single person, but can rent out the second bedroom for additional income. I can qualify for a $350k loan rn with my main job and have added a second job about six months ago so I won’t be house poor, since I can’t qualify for the entire loan my parents are willing to either cosign for a higher loan or to keep the remaining portion to be purchased at a later time. Financials Purchase price $600-650k My income $75k+ Room rental $750-850/month Cash on hand $70k Does anyone have experience in this or have suggestions, trying to keep the costs low and keep the prop 13 property tax status the best we can? Thanks in advanced!! submitted by /u/spankyasses...

First time home buyer located in Texas and I've been asking for the HOA information since our option period. I was under the impression that it was the seller's responsibility to provide them to us (per the addendum in the contract) but was told by our agent that the title company is allowed to act as the buyer in this situation. After taking another look at the contract, it indeed says that is the case. After kicking myself for not seeing that, I ask my agent when I can get them from the title company. Agent contacts title company, title company sends over the resale certification and says that I can contact the HOA treasurer myself to get the governing documents since they do not have them. I contact the HOA treasurer and no reply. My agent asks the sellers agent for them and they say they don't have any either. It was my understanding that these had to be apart of our final documents come closing, is that correct? Is it normal for people to close on homes without obtai...

So, I know it says condo in the flair, but it was the closest option. My fiance and I live on Long Island in New York. We have been looking for a little while and saving up for down payments. We could do a condo or house down payment without a problem for the price range we are looking at. The issue with the co-op is that it wants an 18% down payment and we have saved around 13%. It would take another 2 to 3 months to save the remainder and by then the co-op would be sold as its a very desirable location and is one of few two bed two bath in the area. Does anyone know of any lending methods or ideas of how to fill that 5% missing gap of down payment? I wanted to use unison but they do not work with co-ops. I am open to lending tree but not sure if its the right route. Thank you all for your help and advice! submitted by /u/abovethewavess [link] [comments] source https://www.reddit.com/r/RealEstate/comments/fblfks/buying_a_coop_and_need_down_payment_fundsadvice_ny/

I don't know where to start, but here goes... 1.) Income I've been making about $110k salary for 3 years and I receive royalties through oil and gas income from my family's business. My 2-year average 2017-2018 for royalties is about 40k, but one year was 75k and the other was 4k. 2019 was way better, maybe 70k again, but I don't have a tax return yet. I quit my salaried job recently and started my own online business with nearly no overhead. I have no income to show yet. 2.) Mortgage number 1 I've lived in my house for 8 years and I have a newly retired couple that will be moving in and paying the cost of my mortgage plus property taxes (2k/month). They are homeowners themselves and don't owe anything. Their daughter lives down the street from my house. I know lenders like to see a year or more of income from tenants, but obviously I don't have that yet. Maybe a signed lease will work? Extra background: I made no money and went to graduate school for...

I am a first time home buyer who is in contingency for a home. The contingency period ends on Monday. I really love the house but starting to get worried for the future economy due to the decline in stock market this week. Advice on what to do? I’m not worried about losing my job. Just worried that the economy will slow down and my home purchase now would be inflated. submitted by /u/lbwinwin [link] [comments] source https://www.reddit.com/r/RealEstate/comments/fb6dk0/this_weeks_stock_market_making_me_second_guess_my/

Hello all, I am 23 years old and looking to purchase a condo in my area. I have enough saved for a small downpayment and have been pre-approved for a loan of $130,000. I recently found a 2 bed 2 bath condo that is in a decent location, looks great (renovated), and is in a good HOA community. The list price is $116,500 which is definitely on the lowest end for my area. Other similar condos in the neighborhood have sold around $105,000-$115,000, but most of the condos on the lower end weren't renovated. The renovated units have gone for around $115,000. The condo has currently been on the market for 72 days. Is this considered a long time? If so, should I offer lower than asking? I would of course like to get my costs as low as possible. I don't want to offend the seller or come off as a non-serious buyer by offering closer to $108,000 (I'd expect that they'd be most likely to counter in the middle?). Does this seem like a lowball offer to you? Thank you for your hel...

I’m in a sellers market and the house I’m trying to purchase was listed at $180, I decided to offer $185 and I pay closing because there was a multiple offer situation. Two of the houses in that neighborhood were listed at $185 but one sold for $180 and the other for $170. I have a feeling it’s not going to appraise for quite $185. Our closing date would be March 10th which isn’t even two weeks away. I’m buying in west ATL near the Paulding area if that helps any. I know that’s a question no one has the answer too, but this is my first time buying a home. What’s the likelihood of a sale still going through if it doesn’t appraise by $4-$10k? submitted by /u/Blabberpumpkin [link] [comments] source https://www.reddit.com/r/RealEstate/comments/fbb9a6/is_it_more_or_less_likely_for_a_sale_to_fall/

I know that CA does blended assessment but what I'm trying to understand is how to estimate the 'market value' portion of the new addition. For example, let's say the house is worth 2,000 sqft @ $500 / sqft = $1,000,000. You add another 2,000sqft @ $200 / sqft cost = $400,000 total cost. Similar 4,000 sqft houses are sold for $1,800,000. So would the market value of the new addition be $400,000 or $800,000? I think it's the former since land is already factored into the existing assessment, but I just want to confirm. submitted by /u/escape30now [link] [comments] source https://www.reddit.com/r/RealEstate/comments/fb9anq/ca_how_to_define_market_value_for_home_addition/

https://gyazo.com/8b673321278dd743cb9e1094a36ea8a9 So here is my conversion rate tracking spreadsheet I made that I'll update at the end of every week in a different per month tab and it'll auto populate the totals screen for the year. I'll list why each one is there so I don't get scolded for doing "30 different lead gen methods." Don't do that. I'm simply asking for your guys' opinion on what I'm doing for my business in terms of trying to figure out the best way to track so I don’t glaze inflate my numbers. Expireds, FSBO's and Open Houses are my main 3 sources of lead gen I plan on doing. Facebook ads my "passive" lead gen that I'll run in the background while doing the main 3. Door knocking & Circle Prospecting around Open Houses or if I have nothing else to do. Referral & Sphere or Influence as although new, still prefer to have these Lead Follow Up - This is what my question is about. So let...

My husband and I just started looking at houses. We have a loan pre-approval and are interviewing buyers agents right now. The agents that we really like and thought we were going to pick are also the agents for the house we like. We haven't finished with the interview process so right now we don't have a backup agent to go with. When I asked what they would do in the case that they represent a house that we like, they said they could refer us to someone else in their group that isn't part of their team. This is the Bay Area so houses are usually sold within a week of showing them and I feel we need to move quickly if we love this house. I want to make sure our interests are protected. Do you think we should quickly look for other agent to work with or should we ask them for the referral? Also if this house falls through, would we be able to work with them as our agent or would we be stuck with whoever we got in a hurry when trying to get this house? submitted by /u...

Do our homes go down in value? I was thinking of selling the house in the next three months but now it has turned into bugging in and riding the coronavirus wave. submitted by /u/jku2017 [link] [comments] source https://www.reddit.com/r/RealEstate/comments/fb7siu/what_impact_does_the_coronavirus_have_on_the/

My wife and I are looking to buy our first home. I've convinced my wife to get either a duplex or a single family house that could be easily converted. ​ I just toured a house today that seems like it would fit the bill. It is about 2,200 sq. ft. and there is a section of the house that could easily be walled off and would have a bath room, large bed room/living area small kitchen, its own entrance. The rest of the house is large enough that we really wouldn't miss the extra space. ​ Are there any disadvantages to doing something like this? The county property appraiser has the house classified as "Single Family". Would I have to apply to get the property rezoned? ​ I grew up one county north of where I'm currently looking to buy a house. My mother inherited a single family home with an attached "efficiency" apartment. It had its own bathroom, kitchenette and entrance and was walled off from the rest of the house. She always rented the two section...

When exactly do you start keeping most of the profit? How many houses do you need to rent to keep around $2000 in profit? Thank you!! submitted by /u/dhzetta [link] [comments] source https://www.reddit.com/r/RealEstate/comments/fb6hof/is_the_key_to_real_estate_to_get_a_loan_to_buy/

I'm sure I can find scripts, but I'm looking more what should I know beforehand? Common objections, questions or problems I may hit. I was reading articles, but most of them had dead giveaways in them that the person hadn't door knocked. (One recommended giving potted plants as gifts.... how few doors you think I'm knocking that I can just transport all these -free to give to people who will kill them- potted plants?) Yes I know door knocking isn't the best or only thing, but I figure dedicate a couple hours a day 2 or 3 days a week when I'm starting, if for no other reason than to get that mindset back in full swing. submitted by /u/SalesmanWaldo [link] [comments] source https://www.reddit.com/r/RealEstate/comments/fb69cl/im_in_denver_and_im_just_over_halfway_through_my/

Found a house in my town in Oklahoma that was in my price range and was completely revovated. New kitchen, bathrooms, windows, everything. Someone else put in a bid at the last minute and got it. I'm heartbroken and stressed about what I'm going to do. Lease ends may 31st, so I have to either find someone just as good in the next few weeks or settle for a house that I'll wake up in everyday disappointed. Is it like this everywhere? Do real estate agents just let everyone know when there is an offer put in to purposely start bidding wars? submitted by /u/ResumeIThelp [link] [comments] source https://www.reddit.com/r/RealEstate/comments/fb652c/put_in_an_offer_on_a_house_i_loved_and_now_its/

Can an intermediary agency occur in Texas when there are only 1 broker and 1 real estate salesperson? This topic is seriously confusing. submitted by /u/ThickTheCat [link] [comments] source https://www.reddit.com/r/RealEstate/comments/fb6460/real_estate_exam_help/

I just purchased a property with the intent to develop a number of small cottages on it. During this process I did the following due diligence: Had the county pull every prior deed and look for any deed restrictions. They told me there were none. Acquired an approved development permit from the county for my exact multi-unit use. (they are supposed to check restrictions in this application process) Purchased a title policy at time of sale that states that there are no restrictions. The first bit of site work started this week and I immediately began getting complaints from neighbors that my land should have restrictions and that what I'm doing is not allowed. I double checked all 3 points above at that point and brushed it off as whiny nimbys. Last night I received an email from the guy who originally broke that land into smaller plots saying that he did, indeed, put restrictions on every one of them. Is there something else I should have looked for? If there are no longer...

I was looking around to buy my first house because I'm tired of wasting Martin rent but house prices is ridiculously high these days. Finally I quit. I know the mortgage rate is lowest ever but for me the price f**** matter too. Why I got to buy house of 100k for 180k. I'm Memphis great area. Does anybody have experienced what I'm talking about ? submitted by /u/bendriouichd [link] [comments] source https://www.reddit.com/r/RealEstate/comments/fb4sxp/im_first_home_buyer/

We submitted our refinance app today and we’ll be locking in at 3.0% for a 30yr. The rate lock is for 45 days, but the loan officer expects it to take less time than that. For those of you who have refinanced, how long did the process take for you? submitted by /u/whalecat [link] [comments] source https://www.reddit.com/r/RealEstate/comments/fb4whw/refinancing_how_long_did_yours_take/

Two questions, does it make sense to buy a home in cash? Let's say you had around $2 mil in savings and were looking to buy a home for around $500k. Would it be better to finance it and invest money elsewhere or just to buy a house in full? Also does it make sense to buy a more expensive and nice home? Do more expensive and nicer homes appreciate at a better rate than a lower priced home? Is spending $500k on a home a bit too much if you made around $250k a year but had $2 mil in savings? submitted by /u/Wrestler04 [link] [comments] source https://www.reddit.com/r/RealEstate/comments/fb4t6q/does_it_make_sense_to_buy_a_house_with_cash/

Hello All, So wife and I got a sizeable tax return, roughly 8k. We are currently renting and our landlord told us he was selling house and if we wanted to stay we could and he would have the buyers honor our lease or we could move on. We decided to look into buying a house. I got a pre-approval VA loan from Huntington and started shopping. We have found the house, offer accepted, paid earnest money and all is good. Maybe I am looking into this too much but I am worried about the seasoning. I had about 1200 in the account before the tax return, we just got married and we spent a big amount on our wedding and honeymoon so I am re-couping. I do make much more than the average 25-year-old (113k in Ohio), and deposited $1500 into the savings not too much later after the tax return with another 2k going into the savings this march. My worry however is that the 8k and 1500 have not sat in the bank account long enough and the underwriter will deny us the house loan. I didn't even know ab...

I've done photography (fashion, travel, events) for 10 years here and there on the side. I want to get into real estate photography as a side hustle on the weekends. Any real estate agents here can give any advice on how to get started? How does it usually work - do agents already have the same photographers they've used for a while? If so, how do I break in? Preferably probably homes not commercial buildings as I don't have the crazy equipment for that. Any information would be super helpful, thanks! submitted by /u/electrictalk [link] [comments] source https://www.reddit.com/r/RealEstate/comments/fb4kpd/advice_on_becoming_a_real_estate_photographer_how/

Hello, I purchased a $750K condo in Boston in December(my first property), it's come to my attention that the condo does not have the 5/6 owner Occupancy ratio stated by the property management company it actually had a 1/6 owner occupancy ratio(well 2/6 now that I've moved in). I talked to the I am fully moved in and have started to make small renovations. I talked to my real estate lawyer and he thinks that this is pretty crazy, and I should settle for damages but was unsure of how to calculate damages. I was wondering how you would calculate damages for something like this? submitted by /u/rainhale [link] [comments] source https://www.reddit.com/r/RealEstate/comments/fb4i2m/purchased_condo_property_management_company/

Not exactly sure how to ask this. Pretend I started a hotel using my own money and it ended up being very successful. I want to expand and buy a larger location, but I don't have the money. But I do have a proven track record of making good money doing exactly what I'm doing now. Uh, what do I do next? Thanks for any help on this, never really thought I'd get this far but just happy to be here. submitted by /u/TheProdigalBootycall [link] [comments] source https://www.reddit.com/r/RealEstate/comments/fb4hcy/how_do_you_get_business_loans_anyway/

Here is some background information: The house was for sale for 399k and comes with a pool, and an inlaw suite. The only home available in the area that suits my every need, all other homes I looked at are severely lacking. The pool is in shambles and the seller said it was an estimated 20k to fix. I offer 360k cash buy, to cover the pool, some slight renovation costs (it seems they tried to update the home and ran out of money, so it's not in perfect condition) and also the fact that its cash and not a mortgage.They accept the offer pending inspection, and here is what was discovered in the inspection: There is no working heat on the main floor (it's multi level heating) The heat in the basement isn't installed and the basement as a whole is only partially finished(it was advertised as a complete finished basement) The septic tank is cracked and needs repair. The roof is the original roof, around 27 years old. Apparently it's on its last legs and will need to b...

Hey we were In market to buy home in great neck Long Island from months we finally liked a co op and put an offer and they said yes, we have done inspection, the contracts are with our -buyer attorney. The last week due to corona virus we are hearing rumors of economic slowdown and now my husband is in full panic and planning to back out of the offer. Is there any truth in his panic attack? Is this the worst time to buy house? Please help, very confused first time home buyer. submitted by /u/maivisha13 [link] [comments] source https://www.reddit.com/r/RealEstate/comments/fb3zlr/is_this_the_worse_time_to_buy_home/

who can i call for water and septic testing in castle hayne? thank you submitted by /u/tyger013 [link] [comments] source https://www.reddit.com/r/RealEstate/comments/favw2t/water_and_septic_testing_in_castle_hayne/

My girlfriend and I recently moved into her grandmothers house after she decided she'd seen enough Ohio winters and moved south. My question has to do with the deed of the house, which is still in the grandmothers dead boyfriends name. We'll call him "John." None of Johns family has ever tried to claim the house in the 5 or 6 years he's been deceased, but what worries me is that the gramma just kept the water bill and tge property taxes in his name. My question is basically "who owns the house?!" submitted by /u/PrudentPhilosopher2 [link] [comments] source https://www.reddit.com/r/RealEstate/comments/fav9zu/living_in_a_dead_guys_house/

We have interviewed several agents and narrowed it down to 2 that we liked the most. One of them agreed to do some showings with us this afternoon, but sent over an exclusive agreement for me to sign, which wasn't unexpected but some of the verbiage in here stands out to me. Just wanted to check to see if I'm crazy or this seems excessive - TERM AND TERMINATION: This Agreement commences when signed and, subject to the COMPENSATION paragraph, expires at 11:59pm on JULY 31, 2020 ("Expiration Date"). Either party may terminate this Agreement prior to the Expiration Date by notice to the other. In the event Buyer wishes to terminate this Agreement prior to the Expiration Date, without good cause, Buyer shall compensate broker $1000 ("Early Termination Fee"), in addition to any compensation otherwise due pursuant to this Agreement. * 8B. Payment. Buyer shall pay compensation in the amount of 3% of the sales price (or as per MLS this was hand written in )...

Guys tell my what I miss and what is your suggestion. One month deposit and one rental payment Background check for all tenant before move in. Pass 3 months pay subs Ex landlord’s contact information for reference. 5 bank pass 2 months bank statement. Copies of government issued id submitted by /u/umit321 [link] [comments] source https://www.reddit.com/r/RealEstate/comments/fapzg4/i_am_try_to_rent_out_my_property_this_is_my_check/

Good Morning Everyone, I’m looking at buying a triplex consisting of a 1BR unit and a small commercial store front on the first floor, and a 2BR on the second floor. I was wondering if there were any taxes or regulations that I would have to adhere to due to the commercial unit on the first floor. Thanks in advance! submitted by /u/Diogenes_The_Dawg [link] [comments] source https://www.reddit.com/r/RealEstate/comments/fatllk/renting_small_commercial_units/

Hey all, A year ago we bought a home for 260k and put less than 20% down the home was appraised in its bad condition for 270k. The PMI is based on the 260k purchase price for when it will drop off and our rate was at 4.5% due to a blip in time when rates were going up. If we refinanced our current mortgage of 246k at 3.5% what is the pmi based off of? The comps in area have sold for 280-285 so we won’t be at 20% of value to avoid pmi. We did many upgrades to the house and believe it is close or better then the comps so we expect 280k appraisal. Is there a general rule that this goes by is pmi based off new appraisal or off original purchase price still? Thanks! submitted by /u/Garobo [link] [comments] source https://www.reddit.com/r/RealEstate/comments/fau3it/refinance_and_pmi_question/

We are first time sellers. We are selling/buying at the same time, so we’re not sure how to overlap the timing of the closings (like most people, we need to sell in order to buy). We do plan on putting in an offer as soon as we are in contract, to mitigate the chance of being homeless for a few weeks. I know this is the norm, but how do people do it? Could we ask the buyer if we can vacate X days post-closing, then try to overlap with the new home? submitted by /u/marthamagrum [link] [comments] source https://www.reddit.com/r/RealEstate/comments/fasvcv/how_long_to_vacate_after_closing/

Should we pay to list our home on the MLS, or just post it on Zillow, Redfin, and Craigslist? Also, do we really need a real estate attorney? If so, for what? submitted by /u/rage242 [link] [comments] source https://www.reddit.com/r/RealEstate/comments/farjd9/missouri_we_are_rookies_but_we_want_to_sell_our/

I need some advice because I'm not sure how to handle this. 10yrs ago, i bought my house and I live along a street where the houses are about 3.5' apart. So for years my neighbor has been harrassing me if my rose bush crept onto his property or came over and cut them, sprayed weeds in my yard, sprayed for bees. Bent my downspouts to drain into my foundation, etc. He also had a small fence put up in the back of his yard with no outlet to the alley so he goes through my yard and down my steps in my yard. For years, ive dealt with it because I couldnt afford a fence and i believed my foundation (plus a few inches) was the property line. Well I have been doing better financially these past 2 yrs so I'm redoing my steps in the back and putting up a fence to keep them out. Finally! Low and behold, i had the surveyor come yesterday and he pinned my property. To my surprise, I notice that their sidewalk and steps all along the side of both of our houses were poured about 5 inche...

We had our inspection done and while there, I noticed a darker stucco below the window of the downstairs bathroom. The homeowner claims some stucco was rubbed off from a play house and he had it re done, the inspector stated there was moisture detected... I’m worried they tried to hide a leak. Any advice? Photos attached! They were taken at night with flash. https://ibb.co/HhQrwYS submitted by /u/anydaymeow [link] [comments] source https://www.reddit.com/r/RealEstate/comments/faq3pg/first_time_homebuyer_detected_moisture_in_stucco/

How do you determine what you should offer on a house? The house was foreclosed in January 2019 for 112,000 and then sold in May 2019 for 85,000. They are currently asking 170K and it’s been on the market for 210 days. The county records say that it’s current value is about 129K. The house is a two-story two car garage, 1800 ft.², on a 1.6 acre lot, three bed 2 1/2 bath. I I know that time is money and every month it goes by they are losing money on the house but to me it seems like it’s kind of priced pretty high for what it sold for and what the county records say the value is. Thanks for any help. submitted by /u/abates369 [link] [comments] source https://www.reddit.com/r/RealEstate/comments/faqken/first_time_homebuyer_on_a_foreclosed_and_flipped/

Buying my first house, trying to wrap my head around the mindfuck I've had today. For simplicity let's say I gotta put 6k in escrow for painting in spring. Title company wont accept a wire transfer, wont accept cash. I thought I could get a cashier's check from a bank but no place would let me without being a customer, even if I paid them. And I couldn't get a money order for 6k, the money order places had daily limits. Finally got the title company to agree to a personal check from myself. Several questions, maybe you guys know: Why wont a bank write a cashier's check for a fee? I walked into three banks today with 6k in cash in my pocket, ready to pay some trumped up fee for them to write a check and none of them would. What the fuck? Those guys were all playing Facebook, nobody's going to the bank on a Thursday morning. Are they sticking their necks out in some way i dont realize if i give them cash, and they give me a cahsiers check? Is it normal for a ti...

Hello. I live in Northern Colorado and I’ve recently listed my house for sale. Our family has grown since buying our home 5 years ago and we are relocating to a home with more space. We are already under contract on our new home but the sale is contingent on the sale of our current home. Prior to listing our home for sale we discussed with our realtor who assured us that the market was hot and we would have no problem selling our house within the required 30 days. She told us we would more than likely get multiple offers in the first several days because there are so few homes on the market in this price range. Our home is a two bedroom 1 and 3/4 bath on .19 acres. Homes with comparable updates and smaller square footage within a 0.5 mile radius are selling in less than a week for 35K more than our house is listed for. Our home has been on the market for more than 3 weeks and we have not received an offer. We have dropped the price 10K since listing it without any changes. I am worri...

My parents bought a second home 5 years ago which I have been living in/paying mortgage to them. They want to sell it now and give me the money from the sale of the house. How can they avoid paying capital gains on the equity? Property is in Ontario, Canada submitted by /u/rdh0919 [link] [comments] source https://www.reddit.com/r/RealEstate/comments/faokoh/how_to_avoid_paying_capital_gains_on_rental/

I will be graduating from my Master's program and will be signing a contract of employment soon. I will be earning ~150k as a base salary. My wife and I currently live in Florida, and pending the signing of this contract we will be moving to Ohio. Is it possible to obtain financing in order to purchase a house after I have been in school for the past 2 years and not employed during this time? We have a decent number of pets and are trying to stay away from renting upon our move to Ohio. Any other advice people may have for first time home buyers, buying a home out of state, etc. is appreciated as well. Thanks submitted by /u/SpareAdviceAccount [link] [comments] source https://www.reddit.com/r/RealEstate/comments/faog2f/graduating_in_6_months_job_contract_signed_soon/

I tried to put an offer on the house and faced strange seller's behavior, trying to understand if this is the sign of avoid them. I had put a reasonable offer close or equal to market price (after market analysis by me and my realtor), on a house that had been sitting on the market for 2 years listed well above market price.I gave seller almost 72 hours go consider offer.I got verbal response in a couple of days that they'd agree to my offer but would only sell AS-IS. I responded verbally this would not be acceptable and would not agree with AS-IS language. I also communicated that I didn't expect to ask seller to do any repairs, as I was looking for fast cash closing, but would walk away if major/expensive issues are found on inspection or ask for price reduction. Also I said that want to keep the language in the contract that seller is to repair septic, if inspector finds issues. At offer expiration time I got a call from my agent telling me verbally that seller agree...

I recently moved into a home (Michigan) and found that the bath tub upstairs is leaking onto a ceiling on the floor below. You can tell this was a previous issue based on the look of the ceiling(which is all wood) but was not obvious to me. This was not disclosed and was not found in the inspection. What are my remedies? What should my agent do, if anything? submitted by /u/drod1919 [link] [comments] source https://www.reddit.com/r/RealEstate/comments/fan63y/water_leak_found_after_moving_into_home/

Does anyone know of methods to view old listings of a property? Or at least the pictures? It used to be that you could search Google images and eventually a old zillow posting would show up. Realtor.com used to let you pick between different generations of listings. Neither seems to be working anymore. submitted by /u/bram2727 [link] [comments] source https://www.reddit.com/r/RealEstate/comments/fang6y/viewing_old_real_estate_listings/

Looking to get a construction to a permanent home loan. Wife has been working for almost 1 year at her job. Before that she was unemployed. I will be starting a Job this month. Been unemployed before this. At what point can I use the income from our jobs for a loan. I heard it was 2 years but do they make exceptions, if so what would that be? Thank you for your help! submitted by /u/tafocus99 [link] [comments] source https://www.reddit.com/r/RealEstate/comments/fam1dy/can_i_use_my_w2_income_less_than_1_year_at_job/

Hi all- I’ve google this question, asked our real estate agent, and asked the real estate lawyer involved as well but haven’t received a firm answer. My wife and I are selling our current house and buying another in MA. Right now, the closings are both scheduled for 3/17. I work a full day on 3/17 (12 hour shift) and I cannot switch my shift or leave during it, so I do not think I can be present for the signing. My question is- can I complete a power of attorney with my wife so she can sign on my behalf for both a buyer and seller closing? From what I’ve read online, it seems like it’s no problem when selling, but can be an issue as a buyer. Appreciate any help! submitted by /u/mfitzy87 [link] [comments] source https://www.reddit.com/r/RealEstate/comments/famime/massachusetts_poa_for_closings_as_buyer_and_seller/

Hi all, I am 17 and about to start college in the fall semester. I’ve been admitted to numerous colleges in the US for pre-vet/ biology however, my true passion is aviation. As a result my plan was to pursue this major while working on my pilot certifications at a local FBO. However I’m also interested potentially becoming a real estate agent and general investor in case the pilot thing doesn’t work out (most because in the event I ever lost my medical in 20 I feel that stem degree wouldn’t be as useful). As a result I am planning on changing majors and would like advice on what major would be the best choice to learn investing. I understand that one doesn’t necessarily need a college degree, however, in order to satisfy the airline requirements I need a bachelor’s degree. Basically I feel that pursing a traditional stem degree while pursuing my ATP, and teaching myself investing would be too much to handle so I need appreciate any advice, thank you! submitted by /u/LunarLupusNo...

So me and two other friends are moving in together. We are all out of college and have jobs in our fields. We have applied to one house waiting for approval, but another house we viewed we liked a lot more. This house has been on the market for 1 day and it has seen a lot of attraction. If we offered to pay more rent a month would that do us any favors? submitted by /u/dcolorado [link] [comments] source https://www.reddit.com/r/RealEstate/comments/famhys/offering_to_pay_more_for_rent/

My wife and I just purchased our first home and neither of us has ever lived in a house on well water. We have about a month before we have to be out of our current residence and wanted to use that time in part to check everything associated with the well before actually moving in. Any advice on things we should definitely do at the very least (well inspection, water quality testing, etc)? Our water treatment system consists of the pump which then goes to a water softener system, then a UV sterilization unit, and then either a carbon or sediment filter (I didn't get the best look at it when I was last in the house). I would definitely plan on starting with a new UV lamp and maybe a new filter, but is there anything else? The house has been vacant for about 6-8 months at this point. submitted by /u/acarter5251 [link] [comments] source https://www.reddit.com/r/RealEstate/comments/famwe1/first_time_homebuyers_and_well_owners_advice/

3 months ago my ex tenant left with no notice. He just packed up his stuff and left. He was late two months in Rent Payments. He left one of his cars parked on the street. It’s a non functional convertible mustang. I have no way of getting in contact with him. Rumor is that he moved to another city 5 hours away. How do I claim the title of his car. I would like to fix it up myself. submitted by /u/coolrthancoolio [link] [comments] source https://www.reddit.com/r/RealEstate/comments/fa8bur/how_to_claim_an_extenants_car/

My SO and I purchased a condo in a building last year and we have just not enjoyed it like we expected. It's mostly "if we had known..." type reasons. Aka the walls are paper thin. Living in a downtown previously I had no expectation of quiet, but we can hear our neighbor through the walls when they talk in normal conversation, not even yelling. No solutions we have tried (that we are allowed to do) have helped. A few other things have made us think we shouldn't have purchased. I'm at peace with losing a little bit on the sell (the value has probably increased a little bit) and taking my lumps and just living in an apartment until we are ready for a SFH, but I don't want to make an extremely stupid decision. We would just go back to the same apartment we were in previously that we loved. We thought the condo was going to basically be the apartment we loved that we now owned and could live in for the next 5 years. It’s one of those things that I feel like the ...

What banks do you recommend mortgage shopping with? Would love to get some recos from personal experience. I’m in Bergen County, NJ, and already talked to BOA. I may talk to TD as well since my current mortgage is with them (although I don’t remember the experience being great with that). Purchase price $930k with 20% down. submitted by /u/watermelona [link] [comments] source https://www.reddit.com/r/RealEstate/comments/fac1xs/suggestions_for_mortgage_shopping_in_northern_nj/

Is it possible for a buyer to relist on MLS after completing renovations on a newly purchased home? My wife and I were monitoring a home (not in the best shape) which was sold, and then relisted ~ 1 month later on MLS at a price $60k more. Would this be some kind of contract between buyer and seller? submitted by /u/Casual--Loafer [link] [comments] source https://www.reddit.com/r/RealEstate/comments/fac0nl/buyer_relisting_after_completing_renovations_ca/

House buyer here. We are closing June 1, 2020. Ive contacted two loan companies (bell bank and traditional mortgage) and they’ve been able to provide me a general rate estimate over the phone. But I don’t understand how I decide who to use and when I have to commit. I thought I need a loan provider locked in to even agree to a purchase agreement but nope! The PA is already signed. I did get a pre approval letter from bell bank but they didn’t need my tax or paycheck info to provide it. The other place said they’d need both to get me pre approved. Can anyone help me understand? Rates are super low right now and I don’t wanna miss out if I can be doing something now. I also don’t wanna fully commit to one company unknowingly. Did I already commit to bell by getting a pre approval letter from them?? submitted by /u/maybeluckyagain [link] [comments] source https://www.reddit.com/r/RealEstate/comments/fabi1w/when_do_you_lock_rates_for_mortgage/

submitted by /u/Leothomass [link] [comments] source https://www.reddit.com/r/RealEstate/comments/fa97zu/my_friend_suggests_i_should_buy_a_condo_in_the/

Wanted to sanity-check before I went making a pain of myself at the closing company's office. In Seattle (King County), property taxes are due April 30th and October 31st: https://www.kingcounty.gov/depts/finance-business-operations/treasury/property-tax.aspx I get that when closing on a house, you don't close on one of those two dates, so you are responsible for paying the seller back for the part of the tax between the closing date and the tax-due date. We closed on 10/4/2019, so the sellers had already paid tax through 10/31, but on my closing documents we paid property tax of $2,759.33 through the end of the year, 12/31. (Tax per half is about $5,500.) Shouldn't I have only paid the portion from 10/4 to 10/31, or about $880? (After we closed, I paid another $5,500 directly to the county for the October-April cycle.) Charge listed on my closing documents: https://i.imgur.com/ZBXkLg9.png Thanks for looking! submitted by /u/SethKinast [link] [comments] so...

Most model homes display the best the builder has to offer in design. It likely comes at a much higher price but can the builder do an identical house if requested? submitted by /u/Gristle__McThornbody [link] [comments] source https://www.reddit.com/r/RealEstate/comments/fa8km4/ca_can_a_builder_build_you_a_house_exactly_like/

Hey all! My husband and I are looking at getting our first house sometime this year under FHA or USDA loans. My credit score is sitting at 735, and I make around 35k a year, with little debt. My husband makes about 50k a year with a 600ish credit score. He has a good amount of credit card usage due to some events that have happened this year. I know our chances aren't looking the greatest, but are there options of talking to a lender and seeing if they would let me just apply and see what we would qualify for? Or is there for me to apply by myself, and add just his salary to the application? It would leave his credit score out. What are our chances of being able to qualify for anything? If anyone has any insight on it please help! submitted by /u/fromkasetocan [link] [comments] source https://www.reddit.com/r/RealEstate/comments/fa86q1/first_time_financing_questions/

My fiance and I are/will be in the market for our first house. As of now we rent a house for $1475 a month. Listed below are questions/concerns that we have. Concern 1: I have bad credit (630) from a bad divorce 4 years ago. Mostly late payments but my payments have been 100% on time for the last 2 years. And one credit card with a high balance. She has good credit in the mid 700s. Concern 2: She is a bartender and most of her income is from tips. She makes 11.50 and hour and does receive paychecks every other week. With tips being in cash that's where most of our savings are. I think savings need to be in a bank if you want to use it on a down payment, we're working on that... I make 55k a year and have a freelance job on the side that I make around 10k a year. Question 1: what would be the best way to go about getting financing? She has the good credit and I have the money available for a loan. I haven't found any good advice online on this situation. Question 2: has...

So I'm currently P&C licensed, I've been selling insurance about a year. I'll be getting my real estate license next month. I've already cleared with my broker that I can continue insurance as long as I dont sell to real estate clients. Have any of you or anyone you know done this before? Any tips to keep myself from accidentally violating something? Or is it not worth the hassle and I should just pick one submitted by /u/thebig05 [link] [comments] source https://www.reddit.com/r/RealEstate/comments/fa5fkj/selling_real_estate_and_pc_insurance/

Has anyone ever been a full time paralegal and worked part time as a real estate agent until going full time? I'm considering it, but wanted to hear some other people's perspectives first. I currently work in a real estate law firm and do legal work in the real estate field. I discussed this with the attorney who runs the firm and he seemed agreeable to the situation of me bringing in deals for his clients to look at. Has anyone ever done anything like this? submitted by /u/throwaway_way__away [link] [comments] source https://www.reddit.com/r/RealEstate/comments/fa5dya/real_estate_agent_and_real_estate_paralegal/

Is it common to be told to exclude a repair rider when sending your bank the housing contract in fear that it could impact the mortgage process? submitted by /u/mikeinet [link] [comments] source https://www.reddit.com/r/RealEstate/comments/fa4iu3/contract_addendum_for_repairs_and_banks/