This past summer I purchased my first house. I was able to do this because I qualified for a grant to go towards my down payment but when the money for this grant was gone, it was gone. This restraint plus the very hot housing market pressured me to find a house and make an offer because houses were lasting maybe a week before they were sold. I had an ideal neighborhood but it was too expensive so I bought in an adjacent "up and coming" neighborhood. My first major disappointment was closing itself. It is a long story but basically the seller showed up, as I was moving into my house, with the police accusing me of breaking into my own house.(He had refused to give me the keys despite "ownership upon closing" and me being a 100% in the right.) Having the seller and his agent (yes his agent) yelling at me and having to explain my right to police was extremely stressful and made me suspicious of everything he had done to the house. I had a thorough inspection done a

This came up during my home inspection: https://imgur.com/a/wKs2ZDZ Is this mold? Does it need to be removed/treated? I got a quote for $595 from a local "Mold Solution" company to have it removed. The build/seller doesn't want to pay for it and said it shouldn't be an issue. He said it is common in that type of lumber and is not mold. (I forgot the extract terms he used). He also mentioned even if it is mold, it wouldn't grow due to lack of moisture and proper ventilation in the attic. submitted by /u/aznffl [link] [comments] source https://www.reddit.com/r/RealEstate/comments/ko5nfj/new_construction_home_is_this_mold_in_the_attic/

Hi! New user here and hopeful future mortgage loan originator in Texas. I took my exam Nov 2020 and began the license application process. Already did fingerprints and submitted request for credit report. Since submitting and attesting my application, my license status shows Pending- Incomplete however, there are no active line items. I've emailed Texas SML licensing department already and no response to email and no updates on NMLS website. Dec. 31, 2020 now and wondering if there is anything else I can/ should do. Am I missing something perhaps? I've gone through all items on left side of screen and navigated through site as best as I can and have not been able to come up with anything. Any advice would be deeply appreciated! submitted by /u/Pure-Razzmatazz-408 [link] [comments] source https://www.reddit.com/r/RealEstate/comments/ko555m/nmls_texas_sml/

Has anyone written a letter about buying property? Or somehow gotten in contact with the owner? I’m searching the CAD and looking people up. Just found the perfect ten acres, but the owner just passed in December. I imagine it would be a sore subject for the family to get a letter now.. but how do you handle asking if someone would sell, period? Not just in this situation. submitted by /u/ftme2019 [link] [comments] source https://www.reddit.com/r/RealEstate/comments/ko6esi/writing_a_letter/

My SO any I are under contract for a home in the tri-state area. My real estate agent told us before we bid on this house that it was very overpriced based on the comps she reviewed. The sellers agent made us decide if we want to match another offer they received at 650k. The other offer was an FHA while ours was conventional with 20% down so they chose ours. Fast forward 2 weeks, the appraisal came out at 570k which my team had a feeling this would come back lower. This is a 80k difference and we don't really have the capacity to make up the difference. It seems very silly to me that a seller's agent would risk overpricing a home by so much. wondering how likely this deal may be to fail and what options or offers might allow the contract to proceed and close? in a sellers market, do sellers really hope someone pays this difference above market value? the neighborhood is not particularly attractive submitted by /u/Slimj92 [link] [comments] source https://www.reddi

I currently live in Minnesota and want to get my real estate license, but may move to Texas in the near future. My question is how do I continue doing real estate if I move to another state? Do I have to get another license? submitted by /u/alivianeuberger [link] [comments] source https://www.reddit.com/r/RealEstate/comments/ko2msw/license_reciprocity/

So this is going to be quite a ramble, and I'm not even sure what my main question is, but I would really appreciate some comments from some people wiser in this area than I. Please ask questions if I have left any info out; I could only guess at what info was relevant here, and as such, included some stray facts and questions to help explain things. We bought a property in May, consisting of 3 parcels. The large parcel includes our home, but it also has a 2nd home in its "backyard." The second home is much older, and actually faces a road and has its own address. We, of course, live in the nice, newer house. The new one is essentially the house we bought, but now we also own the old home on the property (and paid for it too). But now, we're wondering what to do with it. Our mortgage company has told us that if we add ~18,000 in value to our property, we can refinance with a significantly better interest rate. Even though the second home is not a primary residence

Hi All! I am in LA and everything decent has had multiple offers going significantly higher than list price. For people on here in the LA area who offered way more than list, did your appraisal match up to your offer price? Was it somewhat close? Did the appraiser use recent comps like the last month? Or did they use comps from 5-6 months ago when the market wasn't as hot? My main concern with bidding wars is the appraisal coming in short. I have some extra cash I could put in, but not a huge amount. TIA! submitted by /u/kandidkats [link] [comments] source https://www.reddit.com/r/RealEstate/comments/ko3mi7/appraisals_ca_la_area/

So I'm looking into investing in a condo that is up for sale on my county's website. I searched into the history of the property and there are two mortgages. The first one being a bank and they did indeed start foreclosure proceedings but then decided to "de-accelerate the loan, withdraw its prior demand for immediate payment of all sums secured by the security instrument and re-institutes the loan as an installment loan." The case then closes. I'm not sure the reason for this but it does seem like there were some responses by the HOA/community association and second mortgagor stating their claims were higher than the banks' claim on the property and perhaps the bank withdraw their foreclosure for this reason(although it doesn't make sense to me but thats all there is to go with on the court history)? However there is a second mortgage that's worth about 10% of what the first mortgage is worth. The owner of this mortgage also foreclosed on the proper

So I am creating a will for the first time in my life and it mainly bc I’m developing a decent amount of equity in my condo. I tried to refinance earlier this year and it was t worth it because I only owe about $70k and banks don’t seem interested in refinancing mortgages that low. That got me thinking... if I leave my condo to someone and they decide to keep it instead of selling it - can they just take over the mortgage? How would they keep the place if they wanted it? submitted by /u/FloridaManCometh [link] [comments] source https://www.reddit.com/r/RealEstate/comments/ko34jh/question_about_an_inherited_mortgage/

I'm looking at purchasing a parcel of raw land currently listed at $6500. It's been on the market for a year today, and the appraisal is for $5500. My question is, based on only this information, would $5000 be a reasonable bid, or is it too lowball? Thanks in advance! submitted by /u/pandadebasura [link] [comments] source https://www.reddit.com/r/RealEstate/comments/ko2y7a/ms_firsttime_buying_land_bid_question/

I'm a first-time home seller looking to sell my house in the SF Bay Area in the next couple of months. I'm starting the process now and calling some real estate agents in my area. I'm wondering what kind of questions I can ask the agents without getting too intrusive. I don't want them to think I'm trying to squeeze free advice from them. Can I ask how much they think they can sell the house for, how much of a discount they would offer in terms of commissions, what sort of techniques or advantages they would use, what their opinion on what changes the house needs, who their contractors are, etc? Also, are there any other questions I should ask the real estate agents? submitted by /u/backward_s [link] [comments] source https://www.reddit.com/r/RealEstate/comments/ko0r1u/sf_bay_area_what_questions_can_i_ask_a_real/

Hi RE, I’m in central Texas looking at refinancing my mortgage. I found one company that omitted the survey from the closing costs and when I asked they said their title company didn’t require it. Is this normal? My initial loan had a survey required, and another refi loan I found wanted one as well. Im confused why they would be able to forgo it? Thanks for any advice in advance. I am not sure I can take the loan officers word on this one. Considering the contradict. Happy new year. submitted by /u/PsyKoptiK [link] [comments] source https://www.reddit.com/r/RealEstate/comments/ko1cro/are_refinance_rules_different_from_initial/

I have an old fashioned borewell on my property I was considering capping or filling. As I look into HVAC options I wondered if this thing could be used to offset the cost of a open loop geothermal. any one familiar with this? submitted by /u/prayermachine [link] [comments] source https://www.reddit.com/r/RealEstate/comments/ko10tg/geothermal_use_from_old_borewell_nc/

I bought my first house a couple months ago with an FHA loan. I attempted to get internet (fiber optic) but couldn’t because they couldn’t bond to ground. I ended up testing all the outlets to find out nothing is grounded.... even the gcfi outlets. Also the roof started leaking in 3 spots... glad they “redid” the roof right before closing. My question is I don’t think an FHA inspector actually even inspected the house. Does this fall on us to repair or then because they didn’t check anything!? submitted by /u/LiveSecurity9398 [link] [comments] source https://www.reddit.com/r/RealEstate/comments/ko0vyj/fha_loan/

Hi All, I'm finally planning to leave the apartment life behind and purchase a home. I want to get everyone's thoughts in regards to my current plan to purchase a townhouse and renting out the additional rooms. Properties I'm Looking At: Currently I'm targeting properties in the Dallas area in the $250K - $350K range that offer three bedrooms and three full size bathrooms. The logic behind this is I should be able to rent out rooms for more money if I can market that they come with a private bathroom. Also I'm looking at homes that have been built in the last five years. The logic is that I'm not smart enough to know what to look for in houses built in the 80s/90s and would prefer to get a newer one that is modern and won't have any weird quirk I didn't anticipate. An example of a property that fits the above criteria: https://www.zillow.com/homedetails/206-Emma-Dr-Lewisville-TX-75057/182382984_zpid/ Loans: I'm still a little unclear about w

Filed a complaint against my former RE agent for a litany of issues. My state's RE Commission found "probable cause" for material fraud and some other things... exactly what I expected. What I didn't expect was also finding PC for what appears to be a kickback. I'm stunned, lol. Not really, absolutely horrid experience during my tenure with him. Surprised is more like it. I was selling and then buying, so I also used him as a buyer agent and already had my lender working on my new mortgage. Three quarters through, my lender can't finish the mortgage due to changes in the process re Covid and offered to reach out to find someone who could. I mentioned it to my agent who suggested a lender he uses. Said lender was also doing the mortgage for the buyer of my home (unsure if that's significant) and I jumped on board. I was perfectly happy with the new lender, thought she was fabulous. I did make a reference in the complaint about having to change lenders, bu

my goal is to become a self made millionaire trough property development,my idea to get there is trough buying cheap houses lower than the area average then renovating it for a fixed amount making a bit of profit for example house 150k area average 200k renovation costs 20k 150k+20k=170k giving me 30k profit and thats just the average and could pull my money back out ​ i would apreciate it if i could have a few tips and tricks and to see if its possible to do and or any tips thanks. submitted by /u/jakeblooron240hz [link] [comments] source https://www.reddit.com/r/RealEstate/comments/kni5hx/can_i_achive_my_goals_with_my_stratergies/

I own a house which I live in. I am buying another primary home with parents (they needed me on the loan as they don't have the income to buy the house). We don't want to move. Other than changing address what else do I need to do to show my residency there? submitted by /u/thishitisgettingold [link] [comments] source https://www.reddit.com/r/RealEstate/comments/knhxax/buying_a_primary_home_but_dont_want_to_move/

Hi all, curious about the above because I've been looking at different condos and several of them that I am interested in are mostly older (like 1920 for one in Boston). I'm curious about the freak chance (I know it won't happen, more out of curiosity) that I 'roll a one' and buy a condo, but the building is demolished at some point in history. I know buildings get fixed and renovated for centuries, I'm thinking freak chance here. Is the property worthless/just worth what the land is worth because it will no longer exist? Is the construction company/HOA/other fees that a parking garage might charge you idfk required to pay me for what the room was worth before being demolished? Or might it be worth an equal amount of space in the new building? submitted by /u/dudecool2016 [link] [comments] source https://www.reddit.com/r/RealEstate/comments/knhdvs/if_i_own_a_condo_or_some_other_property_in_a/

Has anyone purchased a HUD home with this little of a down payment? The program is called Denver Home Ownership. The only stipulation that I know of is that it has to be owner occupied for you to use this. submitted by /u/Cryptic2014 [link] [comments] source https://www.reddit.com/r/RealEstate/comments/knhrkh/hud_home_with_100_down_payment/

My parents are in the process of getting a home but there have been some issues coming up with the company who builds the homes and also does the lending. The major one is that the down payment has changed. Mt parents signed for a down payment of 26k and now its 30k. Due to some other issues, is there any way of for them to back out without losing anything or how would it work? Thank you for your help! submitted by /u/anxious-star [link] [comments] source https://www.reddit.com/r/RealEstate/comments/knhp7x/backing_out_before_closing_day/

Don’t know what flair to put for this but I’m in the middle of taking my real estate courses, and thought about it. Would being a photographer/videographer good for being a real estate agent? I’m new to this but I know I’m able to get clients that way, and can also do work when I do get property I’m pretty sure. Are there any good uses for this profession as well! If this topic or question is not allowed, so sorry! Thanks! submitted by /u/DesperateCommercial7 [link] [comments] source https://www.reddit.com/r/RealEstate/comments/knhice/is_being_a_professional_photographervideographer/

I am planning to buy my first home, which will be my primary residence. I have saved up 20% down and other expenses. The problem is that i am on a budget. Primary reason is that i dont want to spend more that 30% of my monthly on mortgate+tax. The place where i am looking to buy, it is very rare to get a home in the range that i am looking for. I will soon start the process of getting pre-approved etc. But my questions is that will buyer's agents ignore me if they think that my budget is on the lower side and another question i had is that how common is it for agents to find a house before it goes for listing on Redfin or Zillow? Does it even makes sense to start looking when i know that it is going to be a very long shot for me to get a house in this market? submitted by /u/ywnla [link] [comments] source https://www.reddit.com/r/RealEstate/comments/knhack/would_the_real_estate_agents_ignore_me_if_i_am_on/

I own a 1BR in DC and am going to grad school in another state next year. I have a VA loan and APR is currently 3.25 but have an offer to drop it to 2.25 if I refinance, only adds a few thousand to mortgage balance. I’d save $200 a month ($2k P&I down to $1.8k) but obviously wouldn’t want to if I’m going to sell it. I’d like to rent it out but I don’t think it would be cash flow positive. I could probably rent it for $2.3k or so per month, but after factoring in 10% vacancy rate, 10% property management fees, and HOA ($300) I’d be paying $100-300 out of pocket every month. It’s in the “best” neighborhood in DC, and has appreciated ~5% annually since I’ve had it, but not sure what to do. Since it won’t be cash flow positive is it as simple as “sell”? I’m definitely emotionally attached to it as my first home and can’t tell if I’m talking myself into keeping it or if there’s a good reason to. submitted by /u/fernway73 [link] [comments] source https://www.reddit.com/r/R

We are in a nice, small house that we love (3 bed, 1.5 bath, 1200 sq ft), but we have a second baby on the way and parents that visit often, so our current house is getting a bit cramped. We're looking to buy a bigger house in the same area because the town has one of the best school districts in the area, is walkable and is close to work. For the reasons I listed, this is a fairly desirable place to live. Houses priced correctly are gone the day after listing (I've been tracking real estate here for maybe four years). We thought now would be a good time to buy because interest rates are low and our income has increased over the past year, plus it's easier to move while I'm pregnant than it is with a newborn. Our realtor wants us to list/sell our house first, then buy a new house with the funds from the home purchase. I don't care for this option because houses in my area typically sell the weekend they're listed, which then puts a countdown clock on us to f

The living/mortgage situation my father and uncle decided on about 20 years ago is complicated and I'm trying to do the right things now. My uncle took out a mortgage under his name 20 years ago but my family has been living and making payments towards the house (houseA). My father took out a mortgage under his name about 20 years ago as well that my uncle's family has been living and making payments towards (houseB). It gets complicated because my father passed away about 10 years ago and since then my uncle took over my father's business and paid what was left in our mortgage (houseA). While my father was alive my uncle tried taking a loan against the equity of the house (houseA) but didn't get approved. My uncle asked my father to take a loan against the equity of houseB and that was approved. Both my mom and dad were not fond of this decision. Since my father passed away the account holder of houseB is my mom. My uncle used $100,000 for a gas station that he later

I was supposed to close on 12/18. I chose a 60 day close knowing that Covid-19 can cause delays. It had to be delayed twice already due to seller not getting CO in time, now on 12/30 I can't reach the township to try to get information on when the reinspection date is. Multiple people tied to this transaction have tried to reach them, but they haven't answered any calls or emails in the last three days. The point is that I'm living in a dated beat up apartment in a slumlord complex and I would love to leave like yesterday. My father met someone and he married her. Her three kids are in the apartment and this place is crowded. I'm frustrated that I have very little to no control over when the township will respond. submitted by /u/xEmartz91x [link] [comments] source https://www.reddit.com/r/RealEstate/comments/knghg6/feeling_like_longest_escrow_period_ever/

What does it mean if lender asked if I want tax & insurance impounds? submitted by /u/lostnegative [link] [comments] source https://www.reddit.com/r/RealEstate/comments/kngakg/what_does_it_mean_if_lender_asked_if_i_want_tax/

What are your thoughts on going into your 401k to buy investment properties? I'm 27 just bought my first duplex recently via FHA with money I've saved up for the last few years. And it just dawned on me that I have like 40k sitting in a 401k account. Would it make sense to dip in there to use to buy my second property? submitted by /u/guitardrummer22 [link] [comments] source https://www.reddit.com/r/RealEstate/comments/kng91a/emptying_401k_for_real_estate_property/

There are lots of threads on here where buyers have discovered issues after closing that they feel had to have been known by the previous owner, yet were not disclosed. The advice is usually that yes, you can go after the seller, but your chances of success are slim and will be expensive. Does the community have any examples of successfully pursuing a seller after closing for a defect in the property? I personally don't know of one. I suspect they are rare, but it would be interesting to hear about successful cases. submitted by /u/tvgraves [link] [comments] source https://www.reddit.com/r/RealEstate/comments/kng2nw/examples_of_successfully_going_after/

I am pursuing a very unusual property for a very unusual business plan. I find myself in a chicken and egg situation where lenders won't give me terms until I have capital, and I don't know how much capital I need until I have loan terms. I feel like this is making me look very unprofessional when I'm talking to someone about getting financially involved in the project and I can't narrow down our capital raising goals any more than a very wide range like $200k-800k. submitted by /u/sparr [link] [comments] source https://www.reddit.com/r/RealEstate/comments/knfzdl/how_amateur_does_it_sound_when_i_tell_a_potential/

This is a hypothetical question as I'm nowhere near buying a home, but I check out Zillow from time to time to see if there's anything interesting. Last night I found a house located directly on the border of the US and Canada. The house is technically on US soil and the street is in the US (so you can't drive across the border without going through the little station down the road), but the parcel is halfway into Canada and the back door of the house opens into Canada. It's such an interesting listing, I was wondering what the legality of such a house would be. Would one need a passport or dual citizenship to live there? submitted by /u/Repulsive-Divide [link] [comments] source https://www.reddit.com/r/RealEstate/comments/knfhie/what_is_the_legality_of_buying_a_home_on_an/

I've read that 15-20 minutes is the average. Is that really enough time for a 2000 sqft house? Do more interested buyers tend to look longer, and less interested buyers look shorter? submitted by /u/AmericanAbroadNow [link] [comments] source https://www.reddit.com/r/RealEstate/comments/knf08r/whats_the_average_showing_time_for_buyers/

State : Maryland Principal owed : $335,000 Status : Pre-foreclosure (forbearance until 5/31/2021) Interest Rate: 4.25% Past Due Balance: $121,462.42 Accelerated amount due listed on foreclosure doc: $415~ (late fees, back interest, attorney costs) actual payoff was requested but it won't be back until the 6th of Jan Condition: About $5k in repairs HOA Lien: $1800 ($700 of is dues, rest is fees) / monthly HOA $125 Front Foot Past due: $3700 (includes late fees) Potential Property Value: $390,000(pre-pandemic) -$440,000 (Nov of this year) submitted by /u/TampaPrimer [link] [comments] source https://www.reddit.com/r/RealEstate/comments/knfn4g/anyone_want_to_take_a_stab_at_this_and_give_worst/

My fiance and I are getting married next year and we have been looking into purchasing our first home/condo this coming Summer. Without going into much detail... we've done lots of research and understand what we are getting into financially. Here's the situation... my fiance will have to relocate to the local school district (which given this pandemic and the number of teachers quitting by the week, she won't have a problem becoming employed here). Typically school districts in my state do not start to offer contracts for teachers until March/April which means the job pool is slim pickings until then. With this in mind, when should we start talking with individuals to find the right pre-approved loan? Thanks in advance! submitted by /u/iMarchRGB [link] [comments] source https://www.reddit.com/r/RealEstate/comments/knfis1/not_sure_when_to_pursue_mortgage_options/

- Not underwater on house - Current rate 4.375 - Have an extra 100k - Planning to stay in this house at least 2 years From running the numbers it appears that by doing a cash in refinance I can get a significantly lower interest rate which would break even after 12 months and "saving" 15k by the end of the second year. This essentially a 15% "return" on 100k over two years. Am I missing something or is this a pretty decent place to park 100k for a couple years? submitted by /u/DamnDirtyHippie [link] [comments] source https://www.reddit.com/r/RealEstate/comments/knfg0x/is_refinancing_a_good_investment_for_cash/

Rural Western North Carolina... we bought our house 5 years ago on the 1st of January. Originally it was a family plot of land. Other houses were built for the children when they grew up, and the land was sub divided. There are two other houses, besides ours that are currently now on the well that I own. There is an agreement for a very small quarterly fee for access and maintenance. One of the houses is now being sold. We do not want to continue to provide access to the well to the new homeowner. What is the best approach for me to disconnect their access? I’m assuming a new agreement for access to the well would need to be created anyway. Thanks for any help. It’s appreciated. submitted by /u/Aj1744 [link] [comments] source https://www.reddit.com/r/RealEstate/comments/knem7a/access_to_shared_well/

My bank is no longer issuing HELOC loans. I have about 10 years left on a 15-year mortgage. With the 30- and 15-year rates being almost equal, does it make sense to refinance back to 30 years so I can get access to funds for home improvements? I understand I would still need to make aggressive payments to save on interest. Thanks! submitted by /u/cryptacle [link] [comments] source https://www.reddit.com/r/RealEstate/comments/kmu8lm/go_back_to_a_30year_mortgage_instead_of_my/

Earlier this month, I found a new construction home builder and loved everything so I wrote a $5k check for the lot deposit. Nothing was signed except for the check. They told me they wouldn’t be able to contract it for a couple of weeks as they were limited to how many they could contract per month. Today, we are still not under contract and they have raised the floor plan price online twice and now it costs almost $15k more. While I can afford it, will they honor the price that it was when I put down money on the lot? Or can they just keep increasing the price since we don’t have a contract yet? submitted by /u/clearfreckles [link] [comments] source https://www.reddit.com/r/RealEstate/comments/kmtbch/new_home_builder_keeps_increasing_price_after_lot/

I was surfing the web for real estate brokers and I saw a couple of them, offering more than 40-60 Acres for around $250-300K. - We are talking about land in the united states... I even saw an island for less than $400K and those posts from brokers in Sotheby's. submitted by /u/aregus [link] [comments] source https://www.reddit.com/r/RealEstate/comments/kmtyh2/why_is_the_land_so_cheap_in_states_like_idaho/

Honestly I just want to know the reality of getting into real estate investing. I’ve read so much and just have countless things to learn. I feel like a lot of the material that’s out there makes it seem so easy, but of course it’s not. I’m not looking for horrors stories. Just the reality. The day to day responsibilities. What’s it like for someone with little to no capital and 0 contacts within that industry to start. And where do you start? I know this is kind of all over the place but I don’t want to limit the responses. Any info would be welcomed. Thank you. submitted by /u/onewhowrote [link] [comments] source https://www.reddit.com/r/RealEstate/comments/kmtq43/the_reality_of_real_estate_investing/

We are in route to purchase our 2nd office condo (we bought our first one last year). We live in Texas and given the recent surge we expect businesses to be booming in the upcoming decade. So we figured that now is the time to invest in office condos. Now, our rationale is that the property you purchase is obviously going to appreciate in value, but in addition in about 5 years or so we should be making a profit from our tenants. We gave our first tenant a lower rent because it was COVID and we would rather offset a few hundred dollars rather than lose the thousands with an empty office. By the end of this week, we will place our downpayment for our 2nd office condo. We don’t really care about immediate returns. Our whole idea is that in 30-40 years, these properties will become assets for the next generation and its better to put our money to work now rather than just keep a lump sum in the bank. But I worry sometimes that there might be better investment methods that might yield

Seattle area resident here. Suburbs south of Seattle specifically. I've noticed one of my rentals I've owned for 8 years, is in an area that I feel is declining. Are these reliable signs in your opinion? ​ -The grocery store used to be safe and clean. Now there are aggressive panhandlers by the dozen at each door, and it's not uncommon to see employees confronting a shop lifter (one of those panhandlers) in the store... -There are a fair amount of rentals on my block. And the house is a block away from a ghetto apartment complex that seems to have more and more hoodlums walking through the area. -Gang graffiti is more and more common. -There are few restaurants and shops. We have one major employer in this city with a small office building (Boeing). I'm considering selling the rental before the area declines more. They did build a new school in place of the dilapidated one finally, but in general, the area seems to be going down hill IMO. Would you agree or are

This is long, so buckle up for the ride! This was my second home but it is my husbands’ first home. The first one I bought right before the crash of 08 and was underwater until I sold it in 2018 with 1k in my pocket for my trouble after putting 20K in it (it was a bad flip) just to get it to sell. After that, I rented for a couple of years as I was relocating from Philly to NC and had to spend the time to save up a down payment. To make a long story short the 08 crash left some serious trauma in me, not to mention a lost 10 years where I could have had equity-gone. I grew up only in rentals my whole life and I am the first woman in my family to have ever bought a house on my own. I had no real advice or wisdom that might have made me choose differently. I only saw it as checking off the thing you do to get into the middle class. Boy that was a real tough lesson and my trauma definitely was a factor this time, too. I started looking in Jan. of 2020 with my husband. From Jan. to Mar

submitted by /u/BlueOctopotato [link] [comments] source https://www.reddit.com/r/RealEstate/comments/kmsg3k/what_are_some_red_flags_to_watch_out_for_when/

We purchase a house and our closing date would be 3 weeks before our marriage date. We can put the title as single man and single woman, joint tenants OR put the title just under my name and then add her to the title later after we get married as husband/wife. What kind of paperwork or fee is involved to add spouse to a title later? Is there any difference if our title says husband and wife vs. single man/woman joint tenants after we get married? submitted by /u/Iso238 [link] [comments] source https://www.reddit.com/r/RealEstate/comments/kmsg15/closing_date_before_marriage_what_to_put_in_title/

San Francisco and parts of Bay Area California near the Hayward Fault all on high liquefaction zone should there be an earthquake (and the Bay Area is long overdue for an earthquake). submitted by /u/foggyburns [link] [comments] source https://www.reddit.com/r/RealEstate/comments/kmsbh7/looking_to_buy_home_in_area_that_has_70/

i really dont get it where does the money come from to pull out when you spent it submitted by /u/jakeblooron240hz [link] [comments] source https://www.reddit.com/r/RealEstate/comments/kmrzmx/can_someone_please_explain_pulling_money_back_out/

I currently live in Santa Barbara and won’t be able to purchase a home for the next 5 years due to average price of around $1,000,000. I have about 30k saved up and was looking into properties out in the Midwest to potentially buy a first home and rent it out. I was curious if you had any tips/ precautions for a first time home buyer that won’t live on the property. Thanks in advance! submitted by /u/cjcano76 [link] [comments] source https://www.reddit.com/r/RealEstate/comments/kmrnjq/buying_first_home_out_of_state/

Hey everyone, My wife and I currently own and live in a condo in the Bay Area, CA. We just had our son this year and as a result have naturally wanted to start looking for a bigger home to accommodate him and future children. While we are looking for a new home to move into, we'd ideally like to keep this condo and rent it out. However, banks I have spoken to have said that rental income can only count against the first home's mortgage if I have a signed rental/lease agreement as well as security deposit, and possibly up to 3 months of rental income. My question is about doing something that is maybe in the gray area of mortgage applications. Essentially I'm wondering if I could sign a lease with my sister-in-law to show the bank as well as any necessary rental income from the sister-in-law, without her actually living there in reality. That would then help to reduce the debt that is calculated against us when applying for a second mortgage, and allowing us to get a larg

I sold a house today and the closing person was very much in a rush since they had another closing to be at. At the end she gave me my settlement check but told me not to cash it till she called me. She said there was a problem with recording and funding. I have no idea what that means and have already turned over the keys. Kind of freaking out sitting here looking at this check I can't cash. submitted by /u/Hep_C_for_me [link] [comments] source https://www.reddit.com/r/RealEstate/comments/kmqxbe/seller_given_check_but_told_not_to_cash_it/

is there a page for all laws and rules for property investment in the uk because im having a hard time trying to find and learn all the new legal stratergies to financial freedom, thanks submitted by /u/jakeblooron240hz [link] [comments] source https://www.reddit.com/r/RealEstate/comments/kmrsvf/quick_question/

I’m curious if anyone here has any experience on doing a cash out refi on farmland. My father passed away and the farm was left to me. I have a half sister that was Willed 10% of the value of the farm land. I don’t want to sell it, so I’d like to buy her out, but I can’t afford to do that on my own. The farm does not currently have a lien, so I’d like to take a loan against the land to buy her out. I know there are farm improvement loans, but not sure if banks loan money for things like this. I can’t imagine these loans wouldn’t exist. The collateral is there, so there’s literally zero risk. Any guidance would be appreciated! Thanks! submitted by /u/echeck80 [link] [comments] source https://www.reddit.com/r/RealEstate/comments/kmrhlh/cash_out_refi_on_farmland/

Posted this in another sub, but I'm hoping to get a different perspective from this sub. Assuming I put 3% down, I'm looking at financing the rest of the purchase ($720k). This comes down to roughly $4k/month. The more I put down... the less the monthly will be and I think I can get it below $4k/month. $4k/month is everything (principle plus interest, PMI, insurance, HOA, and taxes). I have no debt. I have $150k in retirements and $150k in cash (planning on using $20k for the downpayment and for whatever closing costs would be). My take home is about $10k per month ($6k in available income every month after $4k for my house), so in a year I would pay $50k towards the house and $70k is everything else (food, entertainment, and savings). The house checks off a lot of boxes. Similar houses are going between 550k and 670k but I would need to put additional money into remodeling them (most are 20-30 years old) and fixing it to how I want them to be. This is a new construction s

I'm thinking of selling a condo which is about $700,000 and is mostly owned by the bank 😃 so at this point the commission an agent would charge (about 22k, by my calculation) makes a big difference for me. Even redfin, now in Canada, would be about 17k. How hard or easy would it be to list it myself? What would I need? The apartment is in a location where it almost sells itself. TBH I can't see how it merits $15k+ in commission because there wouldn't be that much work put into it. Thanks. submitted by /u/wuhan_bat_panini [link] [comments] source https://www.reddit.com/r/RealEstate/comments/kmr6dt/canada_what_are_pros_and_cons_of_using_a_real/

I see investment opportunities in my area for 2-tier/3-tier properties for great prices, but they all look old and could have potential big fixes. Do y’all have any best practices or advice on how to make sure you are protected? Obviously the inspection is huge, but let’s say I see a home and I just assume I’ll need a new roof in the next few years. Is it possible to somehow pay more in my loan to free up capital in the near-term (I’d rather pay for a $15K expense over the span of 30 years rather than all at once)? submitted by /u/rwcg2d [link] [comments] source https://www.reddit.com/r/RealEstate/comments/kmr32n/advice_for_buying_old_homes/

Bought a home and lived in it for about two years. Recently moved out and it is on rental market now. Do I have to notify my lender of this? Should I expect interest rate increase or any fees? submitted by /u/harambe_did911 [link] [comments] source https://www.reddit.com/r/RealEstate/comments/kmr2t3/notify_lender_of_rental_conversion/

Current rate is 4.5% so obviously eager to refi, but times are tight. Converted SFH to duplex so now based on the loan to value required and lower than anticipated appraisal I need to take lender credits toward my cash to close. I am wondering if a credit of ~10K is reasonable to take the 3.375 rate. I know there are probably a number of factors but just looking for some insight. I’m working with a loan originator who is a long time friend, but I don’t have a lot of experience or knowledge and just wondering if this sounds about right or if I should somehow be shopping this out. He has been super helpful throughout the process but I want to make sure I’m getting a reasonable deal. Thanks submitted by /u/phishfiend [link] [comments] source https://www.reddit.com/r/RealEstate/comments/kmqsb2/approximately_how_much_should_i_receive_in_lender/

I was looking into this a bit online to get an idea of how much value it will add to the home roughly speaking. So I get an idea of how much money I can make back on the removal cost. This homelite article makes it seem that the more expensive or/and large the home, the more value it adds: https://www.homelight.com/blog/does-removing-popcorn-ceiling-increase-home-value/ Any advice would be greatly appreciated! submitted by /u/NeoZeoVII [link] [comments] source https://www.reddit.com/r/RealEstate/comments/kmqjlc/how_much_value_does_removing_popcorn_asbestos/

I retired early and have been shopping homes, looking to sell mine and purchase another. For some reason, I figured if you showed significant assets, that would help get approved for a mortgage. Apparently not true and you need to show income. Here's what I'm thinking, please let me know if this should work. First, I would use the 72t option to start taking penalty free distributions from my IRA's. These are a fixed amount. To supplement that, I would consider using cash to purchase a five year immediate annuity, for whatever additional income is needed. I'm within five years of age 59.5, so this just needs to be a five year plan. Let me know if there are any holes in this approach. I plan to speak with some lenders about this approach, they just all seem to be super busy right now. submitted by /u/upvoter2u [link] [comments] source https://www.reddit.com/r/RealEstate/comments/kmqcma/retired_early_mortgage_question/

Backstory. I just purchased a home in the Tacoma area and it has tile countertops. Every home that I buy is bought with the assumption that it will be a rental in th future. I generally stay in a place 3-4 years and move on to a new property. I'm trying to see if laminate is still viable for kitchens now a days. I used laminate in a previous home and it looked great and sold very fast. As I said I'll be living in the house for a few years so it's not something that is necessary to do right now. I am considering changing the titled kitchen island to butcher board ASAP just to see how that works out. submitted by /u/redblackgreenmachine [link] [comments] source https://www.reddit.com/r/RealEstate/comments/km79yf/are_laminate_countertops_still_a_viable_option_fo/

Hey everyone! I’m going to study real estate in Australia next year (feb) Any advice would be very appreciated, I want to become familiar with real estate as much as I can before I start studying. I am awaiting a few real estate books I brought online but any reference for books will also be very appreciated 🤩 submitted by /u/stacececey [link] [comments] source https://www.reddit.com/r/RealEstate/comments/km77qu/after_a_decade_of_procrastination_im_ready_to/

We are looking to buy a new home, and we looked at a great place. The only issue is that the lot we are interested in falls close to a substation. When I mean close, we can see it from the backyard. There’s probably a few feet and between the property lines. We were told it wouldn’t be an issue, but Google tells us otherwise. Would there be an issue when reselling? Will we get back what we invested? Also behind the substation is a waste water treatment plant. When we were visiting today, it didn’t smell. We passed the plant as well and it didn’t. A couple of points to mention, it’s in a prime location, a PGA golf course will be coming right by the community next year, and it’s close to a lot of places. submitted by /u/loonygirl30 [link] [comments] source https://www.reddit.com/r/RealEstate/comments/km76k2/buying_new_construction_behind_substation/

So I bought my primary residence off-market by knocking doors and finding some snowbirds that were ready to downsize. It was a private deal and was well under market-value. I'm now filing the standard homestead exemption paperwork and there's a line asking about purchase price. Anyone know if this is a requirement? I think Idaho is a private state, where details of RE transactions are not required to be public, just the fact that a transaction was made and title changed. But am I required to tell the tax man the details? submitted by /u/ATXENG [link] [comments] source https://www.reddit.com/r/RealEstate/comments/km767o/idaho_private_sale_do_i_have_to_tell_the_tax_man/

I know there’s New York City and Boston. What other big cities are there, that are good for realtors? submitted by /u/fuck_rockstar_honest [link] [comments] source https://www.reddit.com/r/RealEstate/comments/km6u58/best_cities_for_realtors_in_the_new_england_states/

In South Carolina The house next to ours went into foreclosure after years of the owner not paying his mortgage. He had renters who were paying the rental company, then the owner pocketed the rent, and didn’t pay the mortgage. He claimed he was active duty military each time they tried to foreclose according to court documents (he was lying). Long part of that story short, he’s passed away now, and our HOA had a lien on the house for a few thousand dollars. There was still a mortgage on the home though. Apparently the bank went out of business and the loan went to another bank, then that bank closed and so on. So our HOA took it upon themselves to purchase the home for $500 in an auction. Then they sold it to one of the board members boss’s for $12K after lecturing us about how they all signed NDA’s to avoid someone doing just that. They never disclosed any of this to the community, we confronted them about it because we looked into it after seeing all the strange activity at the h