My realtor advised me to write the seller a letter offer. I believe this should be more why I’m interested in the unit, but what else should I be mentioning in the letter offer? Do I need to explain my offer price reasoning to the seller? Thanks! submitted by /u/lgvara [link] [comments] source https://www.reddit.com/r/RealEstate/comments/gufd8f/tips_on_writing_letter_offer_purchase/

A lot of tech companies are now offering work from home options to their employees. I am wondering if this impacts real estate prices in bay area or in Seattle where tech companies' presence is huge. An employee can live in North Carolina and didn't need to move to bay area due to high real estate prices. If this trend continues, not a lot of people will move to tech cities which may result in housing prices drop. submitted by /u/Magneto09149 [link] [comments] source https://www.reddit.com/r/RealEstate/comments/guf4is/real_estate_future_in_bay_area_and_tech_cities/

my grandpa has a piece of property that has been in the family for as long as i can remember and i frankly would like to keep it that way. however he has it in his will to be sold and the proceeds to be divided among his children which is more fair. is there a stage where the house is offered for sale to the direct family BEFORE it goes to market? i would like to get funds or loans in order and get an estimate situated before someone even has the opportunity to snatch it out from under me. also is it possible for multiple members go in on a buyout on something like this and the property be split between them? say if i and 2 others are interested in buying while the rest want money? submitted by /u/danz409 [link] [comments] source https://www.reddit.com/r/RealEstate/comments/guex6y/question_on_inheritance/

US - Minnesota There is a home that I'm interested in looking at. It's for sale by owner and was recently bought in Feb. 2020. Looking at Zillow and talking with the neighbors, this home has been bought and sold 4 times in the last 10 years. The neighbors just said that people live there for a couple of years in the home and move. The neighborhood is fine. The online pics look okay. Not a former crime or murder house. Is there any advice on whether to pursue or not pursue a home that has been bought/sold multiple times? Any tips to ask the homeseller or home flipper? submitted by /u/MNCPA [link] [comments] source https://www.reddit.com/r/RealEstate/comments/guebwf/for_sale_by_owner_resold_multiple_times/

Hi everyone. I’m considering buying a property with a manufactured home on it that is in need of repair or replacement. I am wanting to replace the mobile home with a new manufactured home. What type of loan would I need for this would FHA loan allow me to replace the home on the site or would I need to leave that home on the property until the mortgage is paid off. submitted by /u/thrrrroooooooo [link] [comments] source https://www.reddit.com/r/RealEstate/comments/gue17v/buying_with_fha_and_replacing_home/

It was 1k more than the listing price. Now the seller has counter offered. Isn't that weird? I thought they would accept it at the listing price and they didn't get any other offers either. It was a offer with 7 day loan and appraisal contingency, 25 day closing and 20% down. Anyone can explain or share a similar situation? submitted by /u/goodbye_neo [link] [comments] source https://www.reddit.com/r/RealEstate/comments/gudhz0/made_an_offer_over_listing_price_seller_counter/

Hi guys, I’m a first time homebuyer and trying to figure out whether to buy old or build new. I live in an area with a lot of neighborhoods from the 50s-70s that haven’t been updated much since they were built but also the local tech boom has brought tons of new housing developments to previously semi-rural areas. The housing race has spiked home prices a lot so I’m looking at a budget of around $350k-$410k for a smaller new build in a more out of the way community or an old home on a better lot that probably needs a lot of work and most likely won’t be the coolest/prettiest “vintage” house on the block. My decision is boiling down to: which type of home will have a better chance of selling in 5-10 years? Like for example, I know the market is unpredictable, but what type of house has a better chance of selling (hopefully making a little profit, but that’s beside the point) rather than becoming an unsellable albatross around my neck if the housing market goes down? I know it’s always

Hi All, First time home buyer here. Purchased a precon (townhome) a few years back. Was recently contacted by the builder to come pick up the keys to my unit and I will have to pay an occupancy fee of $3700 a month till closing. They also informed me that the government is quite backed up due the whole pandemic situation and it will take some time until things gets back to full capacity. Does anyone have any tips or pointers to how I can somehow expedite this process? Is there a standard practice of how occupancy fee are calculated? Do I have to take the keys now or can I pick it up when im able to close and avoid the occupancy fee. $3700 does seem like quite a hefty fee as I can rent elsewhere in the area for 1800-2200. The other units in my block has yet to be completed/ sold. Do I have to wait until the entire block gets sold/ completed in order for my unit to close? Getting a little worried. Thanks in advance! submitted by /u/dillydildos [link] [comments] source http

CA is my current residence and I'm employed full time here. I'm considering buying a house in Texas where some of my family lives and having them move in to stay there. I may move there later this year for primary residence but have not come to a decision yet. I'm very new to this so I do not know where to start, any help or finger in the right direction would be great. Do I absolutely need the 20% down if I will not be living there right away? Do I find mortgage broker in the state of Texas where I want to buy property or can I use one in CA? submitted by /u/_Clayton_Bigsby [link] [comments] source https://www.reddit.com/r/RealEstate/comments/guch2z/ca_buying_1st_home_as_investment_property_in/

Am having second thoughts of selling my home. I have agree on the offer from buyer. There is no ernest money and the only thing he has paid for is the inspector who came in last week. Is there any other fees I will have to pay the realstate agent? I know I need to pay the photographer. Am really stressing over this big time... thank you!!! submitted by /u/Tister1985 [link] [comments] source https://www.reddit.com/r/RealEstate/comments/gucehb/hey_guys_was_hoping_a_realtor_can_chime_in_or/

Hi, I can afford a down-payment on a house right now and giving the low interest rates that and possibly the better than before real-state market , should I buy a house, move in and then sell in 3 years giving that am considering relocating by then. or should I keep renting. If am paying 1200$ a month for rent thats almost 43,000 $ in 3 years that I can just pay for the mortgage instead of rent and possibly make some profit on the house, or even if it lost value , that lost value would be in the same value of mortgage that I paid that could have been rent (or even less). Please advice. It seems to good of a bargain and I think am messing some hidden costs that am not accounting for. Thank you !! submitted by /u/yazedah [link] [comments] source https://www.reddit.com/r/RealEstate/comments/gucwfm/thinking_of_possible_relocating_in_2_or_3_years/

6 months ago I moved into a 110 year old house that recently tested positive for meth. (12µg/100cm²... in my state any house that tests higher than 1µg/100cm² must be decontaminated.) My housemates and I have found a much nicer place to live but I'm concerned about bringing my furniture into the new house. We took our couches to the dump, but will I have to replace my bed, chair, and desk as well? What about my computer and clothing? It would be awful if I move into a new house and am responsible for contaminating it with meth. I would also like to state that none of us have ever smoked meth, all of this is residue from previous tenants. If this isn't the correct subreddit for this post then I apologize, please let me know where I should post it instead. submitted by /u/An_actual_kiwi [link] [comments] source https://www.reddit.com/r/RealEstate/comments/gucv97/i_just_discovered_ive_been_living_in_a_meth_house/

Hey guys, love this subreddit and all the informative posts! I was hoping to get some advice about request for repairs. My wife and I are in escrow right now. We just finished doing inspections this last week and gathered our reports and prioritized which items made the most sense to add to the list. Spent about $800 on home, foundation, mainline and drainage inspections. It was pricey but I can't imagine not doing the due diligence before making the biggest investment of our lives. It seemed to have paid off because we found a few items that easily surpassed the $800 spent. The biggest items we found were: The foundation had a slightly large crack that was estimated to be $3,000~ to repair. Breaker panel was an older model that only supported 20amps, the new HVAC that was added requires 30amps. ($2000~ repair) Drainage around the home is affecting the foundation. It is moist and it seems that waterproofing is required. ($30,000 estimate....) Given that the home is a fixer

I’m looking for reasonable solution. I rented out my house after I got married, so I’m not a professional ‘landlord’ I rented the house to a new tenant this February. The lease was for the 18 months with 1.5 month security deposit. Today the tenant gave me a notice mentioning Covid and pay decrease and the fact that the house was not warm enough during cold months. I lived there for 6 years and the entire heating system is brand new and actually very efficient. Anyway, she will pay her rent tomorrow and move out on August 15th. I’m guessing she is not planning on paying me anything after tomorrow. I shouldn’t have a problem renting the property as soon as she moves out but there still might be a gap of 2 to 6 weeks. If she won’t pay me anymore what can I do? How should I respond to her email? What if there will be damage to the property? Can I ask her to leave earlier if she won’t pay on July 1st? What is a reasonable approach in this case. I don’t want to spend thousands of dollars t

Good evening everyone. The house that am selling (I have an offer on it and we accepted). If we dont agree with the assesor final price on the home do we have the right to not accepted the offer? I spend 12k already on the house adding a storm shelter (I know it doesn't add value to the house) most homes in my neighborhood have them and this one didn't. I told my realtor I would not sell this house for the same price I bought if for. I am also counting the closing cost and first year insurance to all this...just frustrated and ticked off. Thank You in Advance. submitted by /u/Tister1985 [link] [comments] source https://www.reddit.com/r/RealEstate/comments/guc1o7/selling_question_if_am_not_satisfied_with_the/

Anyone have any experience with this course? https://mlotrainingacademy.com/live-20hr-nmls/ Is this legit/worth it? submitted by /u/iAintNoLick [link] [comments] source https://www.reddit.com/r/RealEstate/comments/gubiif/affinity_real_estate_mortgage_service_course/

Be real As an investor, what was the ups and downs of your journey? I would love to buy a duplex for 20% down and rent it out while I live in the other unit. What has been your experience in this? submitted by /u/Tostitos153 [link] [comments] source https://www.reddit.com/r/RealEstate/comments/gube44/pros_and_cons_of_real_estate_investing/

.33 Acre lot In a bit of a rundown area with a lot of homes on the street having a lot of clutter etc. Here is the link to the listing-- https://www.coldwellbankerhomes.com/ca/santa-rosa/3161-wilder-rd/pid_36210483/ ​ So, I am a newb with this for sure. There has been a ton of interest but no one has presented a written offer yet. I am thinking around the 45k cash mark. ​ But my idea with the property would be to clean it out and then maybe just rent it to someone for use as a storage area for their contracting company or for their RV's. Is allowable in these types of situations? Would it make sense to put in a sewer and a well and then get electricity from the street and then having a complete RV live in situation or a house situation? ​ Any help is appreciated ​ Zoning: RR B6 2.5, VOH ​ Land use: RURAL RES/VACANT HOMESITE submitted by /u/bigger_bob_22 [link] [comments] source https://www.reddit.com/r/RealEstate/comments/gub2j4/first_timer_buying_cheap_lo

Hi all! My husband and I are first time home buyers and are so so excited to be taking this step. We’ve been pre-approved, have an agent we like, know what kind of house we are after... but I am discouraged! I have this picture in my mind of what I want and pieces of one house for it and pieces of other houses fit it but I haven’t found one that is just right. Now I know at our budget (or any budget under the millions!) we aren’t going to get a perfect dream house. I know there will be compromises and sacrifices. But when do you just say “this house is good enough, let’s sign our life away on this one!” How do you not obsess and worry that another better one will come along? I guess the whole process has turned from really exciting to stressful. Any tips would be most welcome :) submitted by /u/pineapple_princesses [link] [comments] source https://www.reddit.com/r/RealEstate/comments/gu9dtr/im_totally_overwhelmed_with_buying_a_house/

So the typical mobile/trailer park homes I come across are like this one . They don't seem particularly mobile but I know some are, technically speaking. However I've also recently come across ones that look like this and I think no way those are mobile, and it doesn't seem like a typical trailer park, yet they are listed as mobile/manufactured. Does this just mean that this area was purchased by a developer and the developer only had a few designs they wanted and manufactured all these homes to be there? Or does manufactured actually mean it's technically mobile? And do manufactured homes always have a space rental fee (it's not on the last one's listing but I've seen it on many other manufactured homes)? submitted by /u/TheRadHatter9 [link] [comments] source https://www.reddit.com/r/RealEstate/comments/gu9sca/what_exactly_does_manufactured_mean_ive_been/

I bought a home 2 years ago and its been hell for me every since we moved in. The neighbors are inconsiderate and blast music during the day and sometimes during the late night that can be heard inside our home. After talking to them for 6 months and going to their house many times late at night to ask them to turn down the music we got tired and started calling the police. The issues have not stop. I'm honestly surprised the police has not fined them! When calling the police I do it anonymously. We dont have any other option but to sell the house even though we know we will loose a lot of money and will most likely have to rent! Would we have to notify buyers about this? No one let us know when we bought it so we dont know If its require to disclose that. The police calls were done anonymously as well not sure if that helps? I live in Delaware. submitted by /u/lucyball22 [link] [comments] source https://www.reddit.com/r/RealEstate/comments/gua78g/disclose_about_loud_n

Hello, I’ve been looking to get a private plot of land for recreational uses. I came across about 9 acres for $8k in the area I’ve been looking at. I’d pay cash for it. It’s zoned for camping/hunting/snowmobiling only. No parked RV or building. My question is for something of this size what would be the right way to approach purchasing this? There’s a real estate agent listed. Should I find my own for this? Should I just contact him? Not sure if it’s important but it’s in a different state than I reside. What do I need to know about this before I go any further? Thanks, Josh submitted by /u/WickedxJosh [link] [comments] source https://www.reddit.com/r/RealEstate/comments/gua2o5/advice_on_buying_plot_of_land_for_recreational/

Hi, my SO and I rent an apartment for $1,500 per month. I am of the opinion buying a home is better than renting, because you gain equity and collateral rather than not gaining “anything” by renting. We have an idea to live in the area for about two more years until we both get our professional engineer certifications. Is it wise to buy a $250k house just to move in 2 years? My hope is to use that home as a rental property but likely it would have to be sold as we wouldn’t have enough down payment to purchase another house at 20%. I think it’d be worth it, but am I missing something? I used the Nerdwallet renting vs buying calculator. submitted by /u/firerow3991 [link] [comments] source https://www.reddit.com/r/RealEstate/comments/gua0xx/is_it_wise_to_buy_a_house_to_only_live_there_for/

We are trying to buy a plot of land that uses an old town road as a right of way. The land sits behind a property owner that really doesn’t want anything going in behind him. He’s put up a gate blocking the road, several signs that say no trespassing - even though he has no ownership of the old road turned right of way. We are basically using lawyers to force use of the right of way and easements for utilities - with success, we’ll I’m not, seller is to make it marketable. An agent we are not using mentioned the property owner could sue once we have a house built. Is this true? Am I opening myself up for a liability? Land is at a huge premium here, and our houses would end up rather far apart so once in I doubt I’d ever see the guy. submitted by /u/tombloomingdale [link] [comments] source https://www.reddit.com/r/RealEstate/comments/gty6ye/can_an_abutting_landowner_sue_me_for_buying_land/

Semi serious post as wife and I both have good jobs and have been looking for two years and finally settled on a townhouse (PA) that offers us space and location that we didnt have before. But I still cant help but to think that this current situation is a harbinger of things to come. Good luck to anyone else buying and selling in these crazy times. submitted by /u/bmault [link] [comments] source https://www.reddit.com/r/RealEstate/comments/gtxs3p/backed_out_on_buying_a_house_on_the_eve_of_the/

Has anyone ever dealt with real estate mobbing? I would be the first to admit that the outside of my house needed major work. What I did not know is that apparently my neighbors thought i was going to go through foreclosure and was making plans for his family member to swoop in . Now that I've started putting in the work to the outside of my home, coverts harassments and attitudes has exploded. It's like I am targeted by a real estate mafia. I've spoken with family, coworkers and friends and have given names as well as having an insurance policy. Has anyone experience this? submitted by /u/EMOTIVEWAVE [link] [comments] source https://www.reddit.com/r/RealEstate/comments/gtwsnd/real_estate_mobbing/

Just got my first offer accepted as a home buyer. It’s exciting but stressful. Idk if I made the right choice but I love this property. Info: bout in a good neighborhood with decent schools. 40 min away from my job. Bout for 175k and with comps the house is worth 190k with work it needs. How do I know if the house needs more work than I can do? Work needed: trees cut down, paving the driveway, get on city sewer line and off septic, landscaping, patio needs to be redone, flooring needs to be taken out and laminate put in. Extra bath needs to be added, potential drainage needs to be fixed for flooding. My plan is to fix it all over a span of a couple years. Not going to try and redo everything at once. Did I make a good decision? submitted by /u/leadsinlight1 [link] [comments] source https://www.reddit.com/r/RealEstate/comments/gtukld/did_i_make_a_good_deal/

I've been paying close attention to the housing market for about 3 months because I've been serious about buying a house for 3 months. But with COVID-19 throwing everything off-kilter, I'd like to be able to look at the town where I would like to buy, and see how many homes were listed or were sold in May of 2019, or how many were listed or sold in November of 2016, and so on. I'm trying to find a baseline for what represents normal. Is there anything like that out there? Thank you. submitted by /u/dc_sonoma [link] [comments] source https://www.reddit.com/r/RealEstate/comments/gttzyk/is_there_a_resource_that_tells_you_how_many_homes/

I saw a house the day it went up for sale. I contacted the agent multiple times without response looking for an appointment. When he finally picked up he informed me there were no offers but when the day of our appointment came he completely ignored my attempts to communicate with him and that day the house went pending. Looking back, i feel discriminated due to my broken English and don’t feel i was given a fair chance and i don’t know if that’s considered normal. Im not sure wether he lied to me about being no offers on the house or he rushed an offer below asking price. Would this count as some kind of discrimination? I contacted a different agent after and offered listing price however the other offer below had been accepted already and the house had been up 3 days. Some more backstory: I contacted the selling agent the day it went up and was told he couldn’t show me the house that day and we could talk tomorrow. I called the day after which was memorial day and he told me he didn

Help! So we live in a hot housing market where homes are under contract within a day of listing. We jumped at a home we instantly loved and made a full price offer, put down a 3% deposit with a contingency of a home inspection and radon testing. We had that done within the specified time frame and there were several minor items on the report a few larger concerns and the radon testing came back high. Our realtor recommended that we negotiate for repairs to the home and received an inflated estimate for some of the repairs. We made sure to tell her we wanted the home regardless if the sellers were willing to agree to any repairs. We didn’t want to miss out on this home over a couple thousand dollars and were willing to make the repairs ourselves. So our realtor recommended we ask for the cost of the repairs and the installation of a radon mitigation system. We didn’t want to piss of the seller as it’s a hot housing market but were talked into asking for repair costs by our realtor. We

We finally bought our dream house close to both my and my spouses jobs. It's almost a half an hour bus ride downtown, plus a little profit from the current renters finishing up their lease isn't bad. Now we're seeing images of places just a few blocks away just trashed by riots (flipped burning cars and such). I'm terrified for our tenants to say the least. We've reached out to them asking to keep us updated; but is there any more we can do? submitted by /u/cmyk_rose057 [link] [comments] source https://www.reddit.com/r/RealEstate/comments/gtrure/what_can_you_do_to_protect_tenants_property/

My wife and I are just in the baby stages of looking to buy property. It sounds crazy but we’re looking at some very inexpensive fixer uppers in Montana that we could pay cash for, live in for 2-3 years while fixing up, and then sell for cash in hand and use that as a substantial down payment on a larger house. I have my eye on a particular house and we don’t have a real estate agent yet (or may not get one) and I have a few questions about the property, such as, is the water and electrical currently turned on (and if not, when was the last time it was) is the house inhabited currently, and even, is the seller is possibly willing to drop the purchase price (it’s been on the market almost a year). Can I contact the seller’s agent directly and ask these questions? I don’t want to waste everyone’s time viewing the property if it’s clearly not livable and it’s hard to tell from the listings. I know the seller’s agent works for the seller but I didn’t know if she would likely be willing to

Live in a townhouse community and keep our home in great condition. Just sold for a great price, over $25K higher than the last home in this community (or any other home has sold for) two years ago. Now find out today direct neighbor is going to list their house for $40K lower than what I sold for. Can them listing for so low hurt my appraisal? Our home inspection was last Wednesday and we believe went pretty well. Hoping things keep moving so our appraisal gets done sooner than later. Thanks for any input. submitted by /u/Night_hawk47 [link] [comments] source https://www.reddit.com/r/RealEstate/comments/gtrfvn/selling_offer_accepted_inspection_done_appraisal/

Seller needs a 90 day close due to circumstances of their move. My current home is being sold and is going into contract with a 60 day close. So we will need to figure something out..Also new home will need reno(which at this point we have no choice but to do reno while living there). Really lost in this situation and not sure what to do. My broker is suggesting proposing a 60 day close with an option for the seller to rent their house from us for 30 days. This will give us the opportunity to potentially bring in some of the renovation materials such as new floors (which I read need to be in the home environment for 2 weeks-before installing). We are also concerned with the start of the school year.. kid (kindergarten) will risk not starting the school year at the zoned school. What are your suggestions? submitted by /u/PHARMDRX [link] [comments] source https://www.reddit.com/r/RealEstate/comments/gtr6hr/buying_a_home_seller_asking_for_a_90_day_close/

Hello, looking for advice or maybe just venting. Me and my husband have been under contract since March for a house we love. This is our 3rd house, 2nd under a VA loan. We made a strong offer on a house (full asking price!), but requested pretty reasonable repairs. We only asked for the items which required licensed contractors (very minor things such as a couple electrical safety items), pool repairs (liner replacement), and anything that the VA appraiser flagged as a ‘must be fixed’. Receipts required to be delivered three days prior to final walkthrough. We seller readily agreed and said it all sounded reasonable. We were pretty excited as we knew the pool liner would be a high dollar item, but the seller probably knew we’d push for price adjustment, because no one would buy the house with the completely trashed liner. We agreed to 60 day closing to allow time to sell our old house and get the repairs done. We sell our house very quickly, so seemingly everything was going as pl

If a property has a building that is encroaching on another property, would title insurance protect the encroached land owner from losing the land to a prescriptive easement? If not, how does one ensure that the malicious land owner does not gain the easement? They do not have permission to use the land, but how is that recorded legally? submitted by /u/Monimix41 [link] [comments] source https://www.reddit.com/r/RealEstate/comments/gtqata/mo_does_title_insurance_protect_against_a/

I bought my first condo in March 2019 and am wondering if it is worth refinancing to get rid of PMI and get a better interest rate with the rates hovering so low. It was a brand new build and no one had lived here before me. It seems a bit odd to refinance after just a year of owning but getting a smaller monthly payment is definitely enticing. I see myself staying in this house for another 2-3 years and then would like to keep it as a rental property. Facts: Purchased in March 2019 for $389,000 Current amount left on the loan: $341,000 Current Monthly Payment: $2,032 (includes $52 PMI) Interest Rate 4% I know that a Zillow estimate absolutely is not the end all be all but the Zestimate has been hovering around $409,000. I am unsure what an appraiser would actually appraise it at as I have have zero experience with that. I have added things like brand new glass shower doors in both bathrooms, blinds throughout the condo, and a new washer and dryer. Not sure if those actually add

School Districts in MA Laying Off Teachers Just one example, but join that with Boeing Layoffs, a wave of tech IPO layoffs, Stanford University projecting layoffs, we are going to see white collar suffering in this recession. Nearly every sector has contracted. Teachers are homeowners, as are many of the white collar workers (admin and faculty) at universities. There is going to be an economic shock felt through the white collar, it’s just delayed on earnings, budget cuts, etc... these processes move slower in corporate America than the restaurant or hair salon around the corner. Not a “doomer” but a realist. We are still early in this economic situation, jobs will continue to be lost even after lockdowns are lifted, forbearance will end with a political resistance to extension from the right. Don’t take a few weeks of data distorted by a heavy supply/demand imbalance as a sign of a V shaped recovery and all is back to normal. I’ve continued to argue with extremists on both sides

So in February my wife and I purchased a new construction home. The offer we made in January was accepted as the home was being completed. We got a few design decisions which was nice at first but ended up being a nightmare as the builder wasn’t the easiest person to deal with. We purchased for $275k and put $31k down. We got a one year builders warranty as well as a 2-10. We’ve lived there since mid February and have used the warranty multiple times. I’m making this brief so I won’t list all the items, but it’s pretty lengthy. Over time we have grown more and more unhappy with the house, the land(1 acre), and dealing with the builder. Well now my wife’s job is moving and doubling her commute which is already pretty bad. So we are really leaning towards selling to save our sanity and to help out her commute. So between selling fees, capital gains, etc. is there anything we can do to limit our loss? It will really hit hard to lose the whole $31k we put down. Any help would be appreci

My boyfriend and I are beginning the process of buying our first home we want to get pre-approved for a loan before we start seriously looking at properties. We’ve received many opinions on loans and banks to use, but we need advice for finding the best bank and loan for us. Is a credit union, large bank, or a local bank better? What do we need to consider when getting pre-approved? What does the process look like? There are so many things we need to consider and don’t know where to start. Any advice helps!! Thank you! submitted by /u/_adelala_ [link] [comments] source https://www.reddit.com/r/RealEstate/comments/gtpst5/any_recommendations_or_advice_for_first_time_home/

My girlfriend and I have been preapproved for mortgage loan and are starting to look at houses. We have been talking to a realtor who works for a very well established agency in my area. Should we go with them or is it better to go with a strictly buyers broker? Just concerned that they will try to push their in house listings on us, is that something to worry about? Thanks! submitted by /u/NeatEmergency [link] [comments] source https://www.reddit.com/r/RealEstate/comments/gtpnvy/first_time_homebuyers_help/

Opendoor is selling a house, and it’s been on the market for 3 months. You can check their website and see if an offer has been made and as of yesterday morning it said it had no active offers. I submitted an offer and now the website says it has an active offer. They emailed my agent and said, we need the “highest and best offer” because we have a multiple offer situation and they’ll be deciding tomorrow. Now, I’m not the smartest person, but it seems like they haven’t had any offers for a while until mine, and now want to get me to raise my offer. I’m giving them almost exactly what they want. Think they’re telling the truth? submitted by /u/jakevols15 [link] [comments] source https://www.reddit.com/r/RealEstate/comments/gtokp2/highest_and_best_offer_legit/

Just as it says. I had a loan officer give me a good faith estimate on a property a couple of weeks ago and today his assistant gave me a new good faith estimate and it is higher by almost $2k Tried to call and email him, but no response because this is the weekend. submitted by /u/Blessedthrifter [link] [comments] source https://www.reddit.com/r/RealEstate/comments/gtpwj4/2nd_gfe_on_same_house_in_less_than_two_weeks/

Of course I wouldn’t expect them to vacate with 2 weeks notice, but could I do a 45 day closing contingent on them leaving and the property being in good condition? The last thing I’d like to do is buy a property, immediately ask inherited tenants to leave and have them trash the place. Thanks for the help! submitted by /u/scott12333 [link] [comments] source https://www.reddit.com/r/RealEstate/comments/gtp7uh/looking_to_buy_duplex_thats_rented_through_june/

The purpose of this is for college financial aid. My financial aid advisor says the house (that my parent's rent out for) is worth 300k according to their public data, but I it's worth 220k based on public data from RedFin. I do see the 300k estimate from sites like Zillow which is where they probably got it from. Not sure if this is the correct subreddit, but who should I contact to get an official letter on the current market value of the house to try to appeal this issue? Also, around how much should it cost to get this letter? submitted by /u/Cookeh1204 [link] [comments] source https://www.reddit.com/r/RealEstate/comments/gtp635/where_can_i_get_an_official_letter_stating_price/

submitted by /u/cheese_pasta_life [link] [comments] source https://www.reddit.com/r/RealEstate/comments/gtodd9/any_advice_for_new_agents_starting_their_career/

NY. A few weeks after closing, the law firm that I closed with has told me that "your lender has requested that your Note be re-executed." Apparently someone (an agent) forgot to sign something and now everyone has to sign again. Being called a "clerical error." I'm just a little confused why it is necessary. The loan is already enacted. What purpose does it serve to have me sign again? What would happen if I refused? submitted by /u/TheRealJeffRichards [link] [comments] source https://www.reddit.com/r/RealEstate/comments/gt8hg2/postclosing_request_to_reexecute/

I’m currently looking at homes and I have the 20% down payment and then some. If I submit an offer on a home stating I’m putting 20% down do I have to or can I decide to put 10-15% down after the offer is accepted. I personally like the liquidity and a lot of my money is tied up in the stock market. submitted by /u/robp1976 [link] [comments] source https://www.reddit.com/r/RealEstate/comments/gt8ave/making_offer_and_percentage_down/

Is the earnest money separate or part of the down payment? My realtor specified in our contract that we should pay earnest money and separately the full down payment. I keep reading that the earnest money is applied to either closing costs or earnest money. submitted by /u/Future_Tell [link] [comments] source https://www.reddit.com/r/RealEstate/comments/gt8ahs/earnest_money_question/

It's a beach-front cottage in Michigan, old, small and pretty rustic; needs many updates, though as a family we have been comfortable there for many decades, seasonally. Out of several siblings, my one sister and I are taking title to the property. My question is not about how the other siblings will react to this -- we've been through acceptance and denial letters, and all of the rest are on board with taking their cash from my parents' trust instead of title to the property. So all that drama is laid to rest. I foresee that my one sister and I will set up an LLC to manage the property that we are taking title to. One, to hammer out agreements about how we will use it, maintain it and upgrade it, and Two to manage payment and liability. My question for you all is if a simple LLC is the way to proceed. Am I missing anything? submitted by /u/guppy1979 [link] [comments] source https://www.reddit.com/r/RealEstate/comments/gt89ni/assuming_ownership_of_family_cott

Wanted lots of professional opinions and voices weighing in on this so here it goes: Husband and I fell in love with a home. Home is vacant,owned by an investor. We went to a showing and noticed lots of shoddy workmanship. Decided it was listed for more we are willing to pay due to lack of finishing the job. Did some digging and also found out the roof is 20-25 years old and septic was listed as unsatisfactory by town. No sellers disclosure. Now we really think it’s overpriced, plus it’s on a main road. We still love it and with listings drying up, not really sure how to proceed. We think it’s overpriced by about 100-150 thousand based on all we would need to fix or do ourselves. Basically looks like they made it pretty for pictures. So...Be patient? Offer lowball? Run away? Our realtor is awesome but wanted to hear from a broad range of opinions. Thanks all. submitted by /u/Marbarro18 [link] [comments] source https://www.reddit.com/r/RealEstate/comments/gt80je/wait_it_ou

Closing on a home soon. I have an allowance given to replace the flooring. The money will be held in escrow at the closing company's attorney office. My agent told me that in order to use this allowance properly, I must have a contractor complete the service, after which I present the bill to the attorney's office and they pay the contractor directly. The thing is...it's freaking carpet replacement. Home Depot has a killer deal going on this summer where they will replace and install carpet free of charge as long as you buy the product from them and the carpet is over a certain dollar amount per sqft and minimum purchase amount total. Home Depot isn't going to accept being told "yeah just give me the bill and I'll have some attorney office mail you a check." Any of you experienced folks have any ideas? submitted by /u/rowtahd [link] [comments] source https://www.reddit.com/r/RealEstate/comments/gt7uve/question_about_using_allowance_for_repai

Hi all I work as an lpn full time. I just started a few months ago, and as of right now my yearly salary will be anywhere between 40-50k. Is that enough to start saving for real estate? I still live with my mom so I’m wondering if I need to go back to school for a few years to increase my pay or just start saving now. I live in MA. submitted by /u/Tostitos153 [link] [comments] source https://www.reddit.com/r/RealEstate/comments/gt8096/50k_enough/

Hi everyone, I am looking for some advice. My fiancé and I found a condo that we would like to rent (South Florida) We got a leasing contract written up with the landlord, all we need now is to be approved by the HOA. We submitted our HOA application to the management company and they sent our application to the HOA board for approval. The HOA board has 30 days to approve us. It will be 30 days tomorrow and we haven’t heard a word from them. What can we do, if anything? Thank you! submitted by /u/carolcalhoun [link] [comments] source https://www.reddit.com/r/RealEstate/comments/gt4quq/hoa_rental_approval_taking_longer_than_expected/

My dads been looking for a home to buy to rent out. Is there a website I can check out to see a curve of prices? Is right now a good time to buy or 6-12 months from now? (He thinks 6-12 months from now) submitted by /u/alwaysvivi [link] [comments] source https://www.reddit.com/r/RealEstate/comments/gt7nqe/purchasing_home/

Still new to this. There was an apartment unit that I was interested in for renting out later down the line, but the listing agent said that the apartment building reached its limit for # of rentable units. My question is, does every apartment have a policy like this? Or is it just for some of them? And how many % of the building would be rental units? Thanks submitted by /u/throwaway12380404 [link] [comments] source https://www.reddit.com/r/RealEstate/comments/gt503k/how_often_do_apartments_have_a_limit_on_how_many/

If my husband has a decent credit score and mine is not so hot(from some hard times in the past), can my husband apply for a mortgage loan without me being on the application? submitted by /u/LaceyJ1121 [link] [comments] source https://www.reddit.com/r/RealEstate/comments/gt7a7j/need_some_advice/

Am I correct in thinking that a lot more houses in the east coast have vinyl sidings, compared to the west coast where even inexpensive houses have wood or Hardiplank sidings? I am talking mid to lower high-end houses, typically built in the last 10-20 years. I come to this conclusion from extensive research using Redfin listings -:) If I am right is it because of the weather? submitted by /u/InCodIthrust [link] [comments] source https://www.reddit.com/r/RealEstate/comments/gt6hee/siding_for_houses_east_coast_vs_west_coast/

We are FTHB and trying to purchase in the $250-$275 list price range in MN. Our agent says this is the most competitive price range in our market. We are preapproved for a conventional loan at 5% down well beyond this price range. We have enough liquidity to put down 10% + our closing costs. We've lost 3 multiple-offer scenarios so far (no seller costs or home warranty in any offer): Offered 6% over list, 10 day inspection, 10% down, appraisal contingency. Seller cited not liking appraisal contingency. Offered 6% over list, 7 day inspection, 10% down, appraisal contingency. No response from seller or their agent at all. Offered 8% over list, 7 day inspection, 10% down, appraisal contingency only if it appraised below 98% of our offer price. Seller cited preferring a higher down-payment offer. All these offers have been made the day of our showing, which has been 0 -- 2 days after the house entered the market. Any ideas on how to strengthen our offers? Anything our agent or

Due diligence period expires tonight at 11:59 (they have about an hour and a half left). Sellers haven’t signed yet-our agent is waiting for the sellers response to deposit the earnest money. What happens if they don’t respond by tonight? What if they back out of the deal after the earnest money has been deposited? Will we (financially-earnest $) face the consequences if they back out? Sorry we’re just super nerve wracked about their decision tonight, anything helps submitted by /u/aliar00 [link] [comments] source https://www.reddit.com/r/RealEstate/comments/gt5mwj/seller_hasnt_responded_to_otp/

It feels so surreal to finally own a home and I just wanted to extend my utmost thanks to this sub (one of my favorites to lurk on) for the informative posts because we've had a bit of a rollercoaster of a buying experience, though I'm guessing that's more the "norm" than anything else. We put an offer in on a 3 bedroom condo back in mid-March right before the lockdowns really began. We really loved the neighborhood and the house and we were so excited. After inspection uncovered a lot of major issues (HVAC, electrical, and plumbing all needed major repairs) we attempted to negotiate with the seller, but they ended up rejecting our "best and final" offer. We were so upset and after looking at a few other far less appealing homes, and given the current situation, we had basically decided that we were going to re-sign our lease for another year. But then a single-family house popped up in a town we never thought we would be able to afford. We scrambled

So I have been posting on here for a couple days regarding home searching. I googled and might be missing it but I am finding any house built like 95-2003ish has this god awful fireplace right where your 65" TV should BE!! you can say these homes didnt grow well with the times... And what gets me is these fire places are like in calm climate areas. Sacramento for example... ​ I keep thinking oh damn I may want to commit to my down payment on this one... Then I see why its cheap as fuck... The fireplace ruins the whole fucking living room. Maybe if you're 90 and you can't use a remote you may like to light up a fire during a cold 54 degree winter night but damn man. I want the somewhat open floor plan. And no I dont want to hang a 70" tv above a fireplace and have it angled like the tower of pisa. ​ I am convinced that a fireplace is single handedly ruining thousands of homes in california. That fireplace fucks up the value so bad. submitted by /u/Necessary

I’m not sure if this will be the right subreddit to ask, but I’m interested in buying a condo which I heard they built a bedroom from what it was originally a studio. What would normally happen if they didnt have a permit to begin with? What would be the consequences or any penalty coming my way? Should I ask if they applied for a permit? Thanks! submitted by /u/lgvara [link] [comments] source https://www.reddit.com/r/RealEstate/comments/gt5mvc/do_you_need_a_permit_to_build_a_room_in_your/

submitted by /u/Tostitos153 [link] [comments] source https://www.reddit.com/r/RealEstate/comments/gt5g0z/real_estate_investingfinancial_freedom/

Hi all I am 22 working as an LPN in MA. I work full time but in my free time I’ve been watching YouTube videos and listening to podcasts with real estate experts and I know that this is something I want to get into. As of right now I would like to be an investor while I work full time but maybe things will change in the future; I am planning on hiring a real estate agent to help me with the motions but before I even do that I need to have a sufficient savings. How much $ do I need to be ready to get into buying a property and having to do necessary renovations? I was thinking anywhere between $20-30k. Thank you submitted by /u/Tostitos153 [link] [comments] source https://www.reddit.com/r/RealEstate/comments/gt4kgi/how_much_to_get_started/

submitted by /u/FirmBizkit [link] [comments] source https://www.reddit.com/r/RealEstate/comments/gt4hxi/does_buying_a_property_withfor_my_parents_make/

I am under contract for a property, and the property lines in MLS go straight through a shed on the righthand side of the property. We were planning on getting a survey done anyway, but I was curious is these are fairly accurate, or best guesses. submitted by /u/Elpmet [link] [comments] source https://www.reddit.com/r/RealEstate/comments/gt48md/how_accurate_are_mls_property_lines_in_map_view/

asking this to help my grandma, we live in california. she recently put her house on the market. 7 days ago she got an offer and she accepted it. however, she has had a change of heart and no longer wishes to sell the house at all. the buyers made a $1500 deposit, but that is it. they have not been approved for a loan yet, and my grandmother has payed for all of the inspections and repairs required out of pocket. the realtor told her she is going to need a lawyer. what kind of options does she have, and what should she be expecting/looking for going forwards? thanks for the help! submitted by /u/grandmas_throw_away [link] [comments] source https://www.reddit.com/r/RealEstate/comments/gt31os/grandmother_wants_to_back_out_of_selling_her/

Hello all! Long time reader, first time poster here. My husband I are currently in a weird situation trying to purchase our first home. Looking to hear from anyone who has ever experienced this or something similar, as everyone we are working with has not. This is in Pennsylvania. A little backstory: Home is a manufactured double wide on a permanent cement pillar foundation. It is sitting on 2 acres, moved onto the property in 2004. It has been someone's summer vacation home, so it's in great shape. We are doing a USDA loan and had the home inspected, water tested. All looks good. Sure, the bathrooms could use updating as far as fixtures and minor things like that, but we aren't picky. No red flags were discovered. We have been approved with our lender initially, but it has not gone to USDA for approval yet, because there is no title for this home. Part of the process of buying a mobile home is retiring the title to real estate. Seller bought it as a model home from a

First time buyers, and My husband and I closed on the first house we made an offer on! Everything went smoothly for the most part, and it’s such a relief to be done with it. I’ve been perusing this Reddit to learn more about the whole process, and realized (too late) that we were never asked to do a final walk through—in fact, I didn’t even know it was a thing. Just wondering, is that normal? Should our realtor have mentioned it? We also found out last night (Wednesday), several hours after closing, that we wouldn’t be able to go there or move in until friday, because the previous owner was going to be living there until then. It was disappointing, but in the scheme of things, seemed minor EXCEPT for the fact we had changed all the utilities, rented a u-haul, and technically got the keys for it today. Felt sort of anti climatic not to be able to go there right away, and also, another area where I felt like our realtor sort of let us down. Now I’m slightly nervous realizing we haven’t

Looking at a gorgeous loft in brooklyn that sold for 390K in 2010, then 750 in 2015, now they’re asking for almost 900. In ten years this unit more than doubled, how high can it go? Rental prices don’t match the buyers price tag, a 500-600K unit is 3K a month as a rental, while 1% of the home value would be 5 or 6K, it seems like the market is created by buying and holding hoping it will double or triple in a short amount of time. submitted by /u/myfriendsfoundme-1tm [link] [comments] source https://www.reddit.com/r/RealEstate/comments/gsm3fd/is_nyc_a_tulip_market_waiting_to_crash/

My hybrid closing is just a day away. Completed the walk through with the construction manager. Identified some minor fixes. But should be ready in few hours. Any thought on final reviews or things to double check like may be closing documents ? I tried to read all the closing documents provided. Have not wired money yet, will do few hours before signing. Appreciate any advises on this. submitted by /u/cula123 [link] [comments] source https://www.reddit.com/r/RealEstate/comments/gslbhs/any_final_items_to_review_before_closing_on_new/

We did the final walkthrough today, as we are closing tomorrow. The house was in really great condition during inspection etc, but understandably everything is in boxes today at the walkthrough. Kind of impeded our ability to view the walls, and the master bath had dog hair all over the floor (our daughter is allergic). Also a little concerned about their ability to get everything done before the afternoon tomorrow. All furniture and boxes were still there at the time of walkthrough (evening around 5 PM). ​ Is it reasonable to request another walkthrough before closing tomorrow? submitted by /u/anathemal [link] [comments] source https://www.reddit.com/r/RealEstate/comments/gslyks/final_walkthrough_so_much_clutter/

What do you think are my best refinancing options considering my current rates? Should I consider 15 year mortgages? I feel like my rates are high. Balances $147,102.41 - 4% Primary $99,297.15 - 4.75% Rental $199,573.34 - 5.375% Rental submitted by /u/AgentZach322 [link] [comments] source https://www.reddit.com/r/RealEstate/comments/gsllz6/refinance_options/

submitted by /u/freebird348 [link] [comments] source https://www.reddit.com/r/RealEstate/comments/gslflg/are_there_any_good_statistics_on_what_percent_of/

Hi, ​ Two years after separation, I'm still not divorced, despite my best efforts. My ex is dragging out the issues. ​ I'd like to buy a house. A non-lawyer friend told me California "is a community property state" and therefore if one married person buys a house, the other married person automatically has "a stake in it" (whatever that means), unless they sign a quitclaim deed (Yeah, that's never happening). ​ With the totally-understood caveat that nobody here is a lawyer, can anyone offer advice? Is that true? ​ Note that we have officially-separate funds now, and I'd be buying this with my own money. submitted by /u/dnh234589 [link] [comments] source https://www.reddit.com/r/RealEstate/comments/gsl7qq/divorce_homebuying_timing/

So I was quitclaimed a home- which I intended on renting out as income for the family member I received it from. I have now switched my plan and intend on selling said home to pay for a home closer to me in cash. I am being asked the title company for an uninsured deed affidavit or a grant deed now that I am selling. The condo is 100% paid off for sure, no liens. Can anyone give me some insight where to go from here? Sounds like I took a misstep. submitted by /u/redditprolurker [link] [comments] source https://www.reddit.com/r/RealEstate/comments/gskw97/quitclaim_issues_with_selling/