Hi everybody, hope everyone is having a good day. I am an overseas investor, i have a question hoping to find an answer. I listed four lots for sale through my agent, the question is : can i do something to boost the listing? like using zillow or realtor for example to give priority for my listing ( paid of course), or any other sites. Thanks and sorry for my poor english. submitted by /u/haytham72 [link] [comments] source https://www.reddit.com/r/RealEstate/comments/l9vu0t/promote_my_listing/

Ok so I'm actually making this post for my girlfriend who is a new agent. She just joined coldwell 3 months ago and just got her first lead. She has a "mentor" but really doesn't know her well and receives little to no help or advice from her so I'm coming to you guys for some help. She's incredibly nervous and stressed about this whole process. She's meeting with the new buyers next week and is trying to prepare herself to what questions they may have, what information she can have ready, what questions she can ask them, ect. She has no one to turn to for help... With everything that's going on atm she's kinda of freaking out and I'm doing all I can to help her. She's frustrated that this so called mentor hasn't done anything to help her. I'm really hoping someone can reach out with insight, help, guidance, anything that can help her out in preparing for this meeting. Please feel free to DM me if you'd like to give her a cal...

submitted by /u/Beautiful-Assistant9 [link] [comments] source https://www.reddit.com/r/RealEstate/comments/l9utn4/what_are_some_of_the_most_impactful_improvements/

It seems that old houses, say that were built before 1940, unless they have some unique historical value, are not worthy of a major investment to remodel. They have just too many potential flaws or "functional obsolesence" (ie outdated building techniques, outdated layout, too inefficient, etc). Perhaps it might be worth it to take it down to the studs and rebuilt to ensure that it's built to modern standards. But best thing is to build a brand spankin new house. This kind of makes me sad because there is a ton of old housing stock in America. But when I really analyze it (I spend a lot of time browsing old houses), I just get overwhelmed with all the potential flaws and inefficiencies that would need corrected. I can see why some just get abonded as they become to costly to maintain. (what if the drains collapse? need a new roof/windows/gutters/etc) submitted by /u/SeriousPuppet [link] [comments] source https://www.reddit.com/r/RealEstate/comments/l9txug/b...

Hi again! Here to pick your brains again! Is it a bad idea to sell to iBuyers? Is it essentially like Carmax for homes? How much of a hit would I take on a 250kish home? Just general opinions even would be appreciated. Thanks! submitted by /u/Loeanneth [link] [comments] source https://www.reddit.com/r/RealEstate/comments/l9tv2r/selling_to_ibuyers/

I got an email from my RA saying the following: ​ Austin is now the nation’s hottest housing market and bidding wars are driving up prices! Homes are selling at 20% above the asking price on average The median home sale price increased by 19% to $370,000 The average days on market decreased by 25 days to 36 days There were 63% fewer homes on the market than last November ​ In my area homes have been going up 20% year over year for at least the past three years. We barely were able to buy in last year and now I just feel bad for anyone else trying. My zip code only has 5 houses for sale and all over a million! I keep thinking this is a bubble and yet.... how is this pricing growth sustainable? submitted by /u/b_gumiho [link] [comments] source https://www.reddit.com/r/RealEstate/comments/l9t75u/austin_market/

I’m in the middle of refinancing my primary mortgage on my home. The underwriter came back saying they need to do a subordination on my active home equity loan. But they can’t. Because the bank holding my active home equity loan never registered the loan with the county. So now I’m at a crossroads. It sounds like there’s no way the HELOC bank can get the second loan registered with the county in time for me to close on my primary loan refinance by the deadline. I’m probably stuck having to just close the HELOC out. Luckily I never used it. And even then I may still have to start the mortgage application process over again. Is this common for a bank to open a Home equity loan with a client and never register the thing? It feels crooked. Thanks submitted by /u/Aanon82 [link] [comments] source https://www.reddit.com/r/RealEstate/comments/l9sxva/heloc_fraud_or_no/

I am wondering what the cost difference is between building new vs buying an old house that you gut down to the studs and remodel from there. Obviously let's assume it's the exact same sq footage and final finishes, etc. (so the final product would look nearly the same). So in the case where you're buying the old house, you have the cost of demolition. But you can use the existing studs/frame and the foundation (assuming they are in good condition, and then yeah you'll prob have to modify the frame to modernize it and get it to code). Let's say this is in a typical middle class city, and you can buy the old house for say $50k. Any idea how the final costs would compare? submitted by /u/SeriousPuppet [link] [comments] source https://www.reddit.com/r/RealEstate/comments/l9s1qm/build_new_vs_gut_job_remodel/

I bought an hoa condo and know that they must have provided it since the sale went through but I don’t see anything in my docs. Is this something the title company keeps? My railing is hoa maintained and completely loose but they are denying repairs saying the previous owners had violations of plants on the balcony and constant water run off that is now the reason for the railing. I also know for a fact that the condo was empty for at least 6 months prior to my sale. It seems unreasonable they are citing this as the reason. Especially because it’s an open pergola balcony. submitted by /u/mochibathwater [link] [comments] source https://www.reddit.com/r/RealEstate/comments/l9rp0a/where_in_all_my_documents_can_i_find_the_hoa/

I have two options Holland park and Hampstead. Which one would you choose to live in ? Which one is a better investment ? ​ Thank you submitted by /u/Rabei25 [link] [comments] source https://www.reddit.com/r/RealEstate/comments/l9rluc/which_neighbourhood_would_you_choose_im_looking/

For example, buying agent happens to be a former neighbor. We got along very well. Would not say she is a friend, but we are definitely friendly. She works for x real estate company that happens to put up the listings for many of the homes I have been interested in. submitted by /u/LocalBodegaCat [link] [comments] source https://www.reddit.com/r/RealEstate/comments/l9r0d8/should_i_work_with_a_buying_agent_who_belongs_to/

submitted by /u/deiseldigdagger [link] [comments] source https://www.reddit.com/r/RealEstate/comments/l9qp4c/has_anyone_successfully_gotten_access_to_the_mls/

My grandfather is moving his business out of his property and wants to fix it up and put the building for lease. He wants to add a finished basement to it that can be used for storage or office space. The building next to his both have a basement leased out. Would it be possible to construct it into his building? What would be the cost of something like that? submitted by /u/hiltonheights [link] [comments] source https://www.reddit.com/r/RealEstate/comments/l9r8zz/is_it_possible_to_construct_a_basement_in/

Selling our house in Iowa. Received our seller closing disclosure by email today. Property taxes are listed twice in it. When added together they equal probably what our property taxes are for a year. One of the amounts has dates listed for July through tomorrow’s closing date. This one makes sense to me. The other does not have dates. Our taxes and insurance are paid with the mortgage through escrow. So does this mean we should be getting a check back from our escrow account or wherever? submitted by /u/I-Am-Disturbed [link] [comments] source https://www.reddit.com/r/RealEstate/comments/l9qo8t/seller_closing_disclosure_question_iowa/

As the title mentions, I am assisting in the build out of a product and would love to ask about 10-15 minutes worth of questions. This is just some basic validation to what we are building. The two groups of people that we are looking for are: Individuals who are looking to buy, currently buying, or have recently bought a home. Realtors Thanks! submitted by /u/dansalg [link] [comments] source https://www.reddit.com/r/RealEstate/comments/l9ql31/need_some_people_to_help_qualify_a_product_were/

Hello, Recently I inherited a home from my father and decided to put it on the market. After 4 months and many showings I finally got an offer. However, the offer is contingent upon the buyer selling her current house. I am not experienced in real estate and want a second opinion on the matter. It seems odd to me that the contract would be set up this way. It’s my understanding my property will appear as ‘pending’ on sites like Zillow and I will be unable to show it to other potential homebuyers while it is pending. What are your thoughts on contracts like this? Any help would be great appreciated! submitted by /u/Competitive-Tip-3560 [link] [comments] source https://www.reddit.com/r/RealEstate/comments/l9qkle/questions_about_as_is_residential_contract/

Found a great place in Georgia and want to put an offer in. The home was purchased for ~130K in Aug 2020 and now selling for 300K. Financing restrictions seem strange though, isn't the VA loan/appraisal process much more stringent than FHA? submitted by /u/ArtificialSelections [link] [comments] source https://www.reddit.com/r/RealEstate/comments/l9q74g/any_reason_a_home_would_be_eligible_for_va_and/

I have found some online real estate brokers that give 2% back to the buyer if they use them when buying a new home. That could save me a lot. Is this common? Should I ask a regular realtor to offer to match that or would that be offensive? submitted by /u/Ok_Transition220 [link] [comments] source https://www.reddit.com/r/RealEstate/comments/l9ph68/buying_new_cashback_florida/

How common is this? How terrible an idea is it? We live in Quebec, Canada, if that makes any difference (not sure if different countries have different ways of doing this). ETA: reason for doing so, we want to make an offer on a place tomorrow and don't currently have an agent. Not trying to negotiate for less price becuz we don't have an agent or anything like that. submitted by /u/valsilph [link] [comments] source https://www.reddit.com/r/RealEstate/comments/l9pljo/buying_without_your_own_realtor/

I believe my sister's tenants are collecting this past December's rental assistance and keeping the money. I don't know how this works though, does the government pay the landlord directly and bypasses the tenants, or do they give the tenants a check, have them cash it, and pay the landlord? submitted by /u/buttwars [link] [comments] source https://www.reddit.com/r/RealEstate/comments/l9q991/question_about_covid19_rental_assistance/

Hi all! I'm a first-time homebuyer looking at houses in Philadelphia, and have a budget that I'd like to stick to (though I could go higher if I have to, I'd prefer not). I just found a shell in a great location, and the architectural drawings for the possible remodel are attached to the listing. For the right price, it could be worth it to go this route, but only if things like the foundation are solid. A few questions: would it be appropriate to reach out to the architect and get more information? What kinds of questions should I ask? What would swing you one way or the other on a potential sale like this? What am I probably missing as a first-timer? Thanks! submitted by /u/jjdactyl [link] [comments] source https://www.reddit.com/r/RealEstate/comments/l9pwo3/renovating_a_shell_pa/

submitted by /u/AlarmingPapaya252 [link] [comments] source https://www.reddit.com/r/RealEstate/comments/l9p7bw/can_i_get_my_broker_license_before_my_salesperson/

Bear with me here. Last week, I passed the Illinois Broker exam. It’s been a hassle trying to find a CRE firm that would take me in, even as a licensed assistant. I’m still in college so I would have to be a part time worker. Any advice on finding the right firm at this stage? If it helps, I’m leaning towards working in multi-family CRE. Thank you in advance! submitted by /u/floppaproperties2914 [link] [comments] source https://www.reddit.com/r/RealEstate/comments/l9oce1/licensed_18_year_old_at_a_major_crossroad_finding/

I found a 50K restaurant for sale on Zillow. If I were to buy this could I legally turn it into a house and live in it? submitted by /u/PrestigiousSympathy3 [link] [comments] source https://www.reddit.com/r/RealEstate/comments/l98lem/can_i_buy_an_old_restaurant_for_residential_space/

If questions like this aren't allowed here let me know, please! Yesterday I took my Texas Real Estate Exam and passed national but failed the state portion, can anyone recommend a source or area to start learning more? Or any advice to an aspiring agent? submitted by /u/MipVip [link] [comments] source https://www.reddit.com/r/RealEstate/comments/l96wxs/a_little_advice/

Hey y’all, I was wondering how I might come up with a fair offer for a home I want to buy and use as a primary residence. The home is listed at $21,900 and has a few minor repair issues my mom and I have been talking out. We know flooring is going to cost roughly $1880-$3000, and work on the unfinished basement may go up to $6,000. We know that there may also be minor repairs needed on the roof, siding, the ceiling of one room, the attic, and the stairs but those are dependent the snow clearing, and measuring certain things (because the cost either goes by linear foot, square foot, or another precise measurement). I really like what I’ve seen and the potential to make this home very comfortable, but I have a few questions: Given the estimate cost of repairs, what might be a fair offer on this home? The tour we had was virtual, so we were unable to see one room and the basement. What might we be able to do to determine if we need mold abatement services, new insulation, inspection ...

I am purchasing a home as a first time home buyer. The original owner was an eldery lady who passed of natural causes (in the home - disclosed) and the estate has decided to sell it. The agent has told me they would like to sell it to someone whos like them (grew up in the house) a family and not an investor. As a 27 year old first time home buyer who grew up in the area with his family what should I mention in my letter - I'm sorry for their loss? I plan to move in my and raise my family? Anything would be appreciated thanks! submitted by /u/cupcakerockstar [link] [comments] source https://www.reddit.com/r/RealEstate/comments/l95s2n/anything_in_particular_i_should_touch_on_in_the/

I’m looking to buy a 2/1 330k condo. The mortgage is equal to or less than what I am paying in rent for a 2/1 apartment (yes including the $270/mo HOA). Is there anything I’m overlooking by buying a condo? Such as if I want to use it as a rental some HOAs limit or prevent renting out units and only allow owner-occupied? I live in SoCal. Thanks in advance!!! submitted by /u/bb437 [link] [comments] source https://www.reddit.com/r/RealEstate/comments/l95w0w/condo_advice/

I'm 30 years old and I live in Florida. I have about $130k in savings but I only make about $40k a year. I'd buy a house but lately it has gotten to where I can't find a halfway decent house that I can afford on my salary and it's just me so I don't need anything big. Like many places inventory is low so prices are high and I just don't feel comfortable taking on $100k+ mortgage debt and spending all of my savings on the down payment with nothing left. Everyone I know seems to have gone wild and gone into huge debt to buy their nice fancy $200k homes. To each their own, but I remember the real estate crash and I couldn't sleep at night doing that myself. I've lately considered that buying a one bedroom one bath park model would be perfect for me. But the only places around here zoned for that are parks where you have to pay lot rent and be over 55 years old to live there. As far as I know any good neighborhood won't let you put in a mobile home. ...

I'm an agent working on a project about real estate technology so I put together a short questionnaire... if you have a minute to answer a few questions. I'd like to learn more about issues real estate professionals are facing in the field. https://docs.google.com/forms/d/e/1FAIpQLSdHUlTr8hoOd7JjOZdlXc1Oqipjsnr5KnSCmZRJs1wW_OlkTA/viewform?usp=sf_link submitted by /u/guru223 [link] [comments] source https://www.reddit.com/r/RealEstate/comments/l95m3g/questionnaire_about_real_estate_problems_what/

I am a first time home buyer and trying to make quick decisions related to buying a home. Came across a home which pretty much checks all that we are looking for. GMaps view: link As you can see, the home is pretty close to I405 freeway. Google distance measurement point-to-point (500ft). Read through generic articles online to understand risks related to living close to freeway. Most articles hint 1000 feet as a relatively safe distance where some recommend 1mil. Looking to start a family in this home (pregnancy, kids, etc.). And most articles I read online point towards child health issues. So, looking for advice from anyone who has gone through this thought before to learn more if I should be worried from a health perspective. Not much worried about noise level and resale value. Thanks for helping me to make a decision. submitted by /u/Karma_555 [link] [comments] source https://www.reddit.com/r/RealEstate/comments/l95gd1/first_time_home_buyer_is_this_far_enough_from/...

Can someone explain to me if this is a scam I’m 90% sure it is but if it is not I would consider buying it. https://www.bid4assets.com/absolute-land-auctions-1dollar submitted by /u/Yeethanos [link] [comments] source https://www.reddit.com/r/RealEstate/comments/l95k0b/i_know_this_is_probably_a_scam_but_why/

Hello everyone, I cannot seem to find the answer to this anywhere on the internet, so I shall ask here in hopes that some light is shed. I am currently living in NJ, with plans to move to Houston, TX in the spring. Can I begin the process of taking the requisite online courses to obtain my license in TX even though I am currently not living in TX? Or should I wait until I’m actually living there? My goal is to take the courses and then when I’m in TX take the exam and pay all the fees involved. In case anyone is wondering, I plan on taking courses here, but I am still shopping around. https://www.texasstateonline.com/ submitted by /u/RaisinBran21 [link] [comments] source https://www.reddit.com/r/RealEstate/comments/l94zxc/please_halp_getting_license_out_of_state/

I am considering purchasing a bed and breakfast in Hawaii. My wife and I would move there and run it. However, it is a true BNB, not an Airbnb meaning it is registered with the city and everything is legit. The problem I’m running into is the owner says she does not have any financial records, meaning I am unable to get a business or commercial loan since everyone wants proof of income and they do not trust projections. Because it is a legit BNB, every lender says I cannot purchase conventional. So I cannot purchase conventional and I cannot purchase business. Does anyone have an idea? I feel like I’ve exhausted every non-hard money option and my realtor is stumped as well. I think it’s a long shot to ask on here but I’m kinda desperate at this point and any advice is appreciated. submitted by /u/Carne_Asada_Friez [link] [comments] source https://www.reddit.com/r/RealEstate/comments/l94q3p/financing_solution_for_bed_and_breakfast/

We received a Loan Estimate document from our lender yesterday but when we reviewed it, it had a higher overall monthly payment then we had previously been told. When we told him he said "oh that's weird, I'll have the loan company review it and send a new one Monday becaude it shouldnt be that high". Then he told us that even when they send a new document we would still have to sign this old one, it cant be left unsigned and nothing is permanent until closing and the closing documents. Now, on a Saturday night at 9pm cst, 10pm his local time, we got another email and it's the same exact document with nothing changed and the old date. We reach out to him again and he says that we need to sign it and we should just sign it so we dont forget later and it can cause big problems. I don't see why we can't wait until Monday and this is honestly a little scary. How can I be sure we arent beibg pushed into a mortgage we cant afford? submitted by /u/Hoostee...

There’s a lot for sale in a neighborhood that’s been developed for many years (20+). There’s a sidewalk all around the neighborhood, except in front of this lot. The lot is a corner lot, size .37 acres. Do you think the buyer would need to pay for a side walk and how much could that cost on top of the property cost (which is $89k)? submitted by /u/awesomom [link] [comments] source https://www.reddit.com/r/RealEstate/comments/l92nd9/lot_for_sale_with_no_sidewalk/

Hi r/RealEstate , I currently live in a single family home with wife and mother in California. My name is on the title and I've been paying the mortgage. Recently, I started a remote dream job that may require me to relocate out of state later this year but won't likely know until June. In the event that my wife and I move, I would want to continue paying the mortgage for my mom to live in the house. I am wondering what is the correct approach to handle this from a tax perspective if it is my house but no longer my primary residence? Thanks! submitted by /u/hamazing [link] [comments] source https://www.reddit.com/r/RealEstate/comments/l92dkx/potentially_moving_out_of_primary_residence_but/

So annoyed with all these homes advertising a "Virtual Tour" that is not a virtual tour, it's just the same listing photos put into a slideshow with a zoom in zoom out feature. Nope, afraid that is not a virtual tour of a home. By the way, I also hate when there are like 40 photos of the property and 3 of the inside of the home... submitted by /u/MinhThien145 [link] [comments] source https://www.reddit.com/r/RealEstate/comments/l91f5i/a_virtual_tour_does_not_mean_putting_your_listing/

We just closed on the house but we were so "generous" that we gave our sellers 25days rent free so they could move out in peace (they were buying their house with the money they got from the sell and they are also planning to do repairs in the new house). Of course now its bugging me because what if they cause damages to the house before they move out (at the end of the day its no longer theirs) or what if they overstay. We have to camp in airB&B until they leave. I feel that I own the house I cant even go to and while I am aware we agreed to it on the contract (sellers market, make your offer attractive to get the house..) it bugs me a lot now. I wanted to ask if this is a typical situation and maybe I am just overexaggerating and how to approach seller and when? I am hoping they dont need 25 days to move out and maybe will be out after 2 weeks. But I dont want to keep on calling them. Also not sure if it's a good idea for a buyer to approach seller directly? Our ag...

A piece of land I’m interested in buying has a home on it that has been vacant for over 10 years and looks like it’s a total tear down. The owner lives in Los Angeles and the home is in Idaho. I’m interested in purchasing the home and tearing the it down to build my own home. In 2016 the home owner was given 90 to make certain repairs or the city was going to condemn the house. He made those repairs but after several windstorms and snow storms, part of the roof has blown off and the detached garage is leaning to one side. Also, during the summer, the weeds can grow to over 4ft tall. The front porch is gone so there’s about a 3 foot drop from the front door to the ground. The driveway isn’t paved and there’s no grass planted. As far as I know, the owner has not been back since 2016. The house it about 2 bedroom 1 bath 800sq ft and on a little over an acre. A home like this would usually go for $350,000+. I would need a mortgage. How would I go about purchasing a home that’s in such dis...

Hey guys, Fairly new homeowner here of a Condo in Brooklyn ( I bought about 2 years ago) - I recently received a notice of property value for the upcoming 21-22 tax year and I was surprised to find an additional +10% adjustment in market value owing to a "structure change due to new construction" even though the building is now 3+ years old. Is this normal? I had assumed any new construction related tax increases would have been accounted for last year but I could be misunderstanding how this system works. submitted by /u/exswoo [link] [comments] source https://www.reddit.com/r/RealEstate/comments/l90zzq/nyc_new_construction_condos_property_taxes/

I am kind of in constant bewilderment at how vast the difference is in house prices between the top areas of the country and the bottom. I mean it's like two different worlds. Let's look at CA and WV. According to this , the avg home value in West Virginia is $107k. The avg home value in CA is $579k. Even in a not-so-great area like West Sacramento the avg home value is over $300k, which to the avg West Virginian would seem out of reach. Even in a sort of typical middle America place like Ohio, the avg home value is a bit over $150k. This is a state with over 10 million in population and home to many pro sports teams, fortune 500 companies, and a high number of 4 year Colleges and Universities per capita. Anyways - I just am beside myself when I think about it. Am I the only one? Do you think this trend will continue? Will the gap continue to widen between the "Californias" and the "Ohios" of the USA indefinitely? (note: I get the reasons. I grew up i...

We’re selling our home and have received 3 offers on the first day. Since they’re full price offers we’re happy to make a decision come end of day Sunday. Besides each offer consisting of full price, one offer in particular is putting down 20% and waiving inspection. Our home is 5 years old and we have taken care of it extremely well. Our realtor suggests posting on our listing that we would like “best and final” offers by end of day Sunday. I’m just wondering if it looks like you’re putting your buyers into an into and uncomfortable situation. Has anyone gone through this and do you think it may turn some buyers off? Would it turn you off? submitted by /u/DCardone [link] [comments] source https://www.reddit.com/r/RealEstate/comments/l90m8t/is_it_appropriate_to_ask_full_offer_buyers_to/

I'll be as brief as possible, not me but my wife's family. grandfather died a few years ago and left a home in MA. 2nd wife survived and was left half the home, other half owned by many heirs (bad deed transfer 30-40 years ago). 2nd wife died in December 2020. home showing sold to a "we buy homes" guy for $20,000 (worth 10x that in current condition). Was sold by the grandmothers conservator (don't get me started) on her behalf in September 2020. Online it shows that the grandfather as grantor (he died several years ago). Looked up the quit claim deed and showed his widow transferring her interest. My question is... what's the scam here? Is it possible that these buys bought a dirty titled house and are claiming full ownership? The buyer tweeted that he had gone to these Than Merrill seminars, is this part of their thing? submitted by /u/OldSchoolAF [link] [comments] source https://www.reddit.com/r/RealEstate/comments/l8zpyg/whats_this_scam...

I’m trying to figure out if I’m making a big deal out of this, because different people I talk to have totally differing opinions. The facts: Found a great remodeled house in a pretty good neighborhood Googled the address and there is a registered sex offender 2 houses down The guy committed the crime 40 years ago. He’s 80 years old now. Only details I can see is that the victim was under 12 years old. Not other information. I have two boys under 3. At first I told myself this was a dealbreaker. But after talking to a few people, they tell me there are registered sex offenders everywhere, the guy is really old and probably harmless. Am I missing a great opportunity but letting this one dude take over my brain? submitted by /u/theyellowpez [link] [comments] source https://www.reddit.com/r/RealEstate/comments/l8zy4k/sex_offender_next_door/

Does the real estate agent have to disclose to the seller that they are also representing the buyer? Does a conflict of interest waiver need to be signed? What does “dealing and honestly and fairly” mean in terms of a transactional broker? And finally, in Florida on a USDA loan, I am assuming the lender decides through an appraisal what they want repaired. Is it commonplace to instead take the private inspection report and say that everything will be required for financing? This includes, for example, hanging drywall in the garage and replacing rotten fascia board. Thank you. submitted by /u/LittleMissPotatoe [link] [comments] source https://www.reddit.com/r/RealEstate/comments/l8zqfe/florida_questions_involving_duties_of_a/

I’ve moved in and out of plenty apartments but never a house. Closing on Monday and will have our apartment through March so we have time to move in. What are the things I must do before moving in? I feel slightly overwhelmed! submitted by /u/Due_Key81217 [link] [comments] source https://www.reddit.com/r/RealEstate/comments/l8e56w/were_closing_now_what/

I took an 30-year FHA home mortgage 5 years and 2 months ago on a 208,000 home, at the time I just paid for the closing cost and had 0% down payment (not something im proud of), also my credit score wasn't great at all, so imagine that, to put it in perspective, I'm paying 1466 a month for it and now I know my interest rate is 7.57% on the loan. All this time I just made sure I pay on time and never miss on payment, which I'm good here, suddently I started getting letters upon letters from different banks about refinancing my home. I grew curious so I started to investigate more. I found out that the average interest rate is somewhere between 2 to 5.5% for the home, whichs puts my interest WAY but WAY too high. 5 years later, I have paid 11% of this loan and I'm thinking about saving money. Now I bought this home 5 years and 2 months ago at 208k, the home value today is around 260-265k give or take. I'm not sure how real state works here. 11% paid of this house ...

I'm an investor looking to get exposure to Miami and Austin real estate. What's the best way to do this? Are there some good REITs you'd recommend? submitted by /u/leftmyheartintruckee [link] [comments] source https://www.reddit.com/r/RealEstate/comments/l8dy9l/how_to_get_exposure_to_miami_and_austin_real/

Every other post here is people struggling to get offers accepted. I absolutely hate reading these posts because everyone should have an opportunity to own a home they love and not just settle on. No fluff, getting straight into it. This might be long. 1. Pre under-written approval: The lender/broker has already verified your credit/assets/debts to income. Get all your documents there. Also, make sure it’s a reputable lender/bank/broker for your area. I can’t stress this enough. Us realtors doing 70+ deals a year have worked with every lender under the sun. If the lender is a red flag, you will have a severe disadvantage. 2. Analyze Your Competition Have your Realtor call the last pended home you love. They ask two questions - how many offers the LA received / how far % over ask are similar homes selling for. This will let you know two huge factors. How many buyers you MIGHT encounter on the next house, and how far over ask people are paying. 3. List Price Does NOT = “Market Va...

I did post earlier about being a frustrated first time home buyer. My realtor is out of town this weekend and a home I really like was posted yesterday. I asked my realtor if there was any way I could still see the home and he reached out to the listing agent. Long story short, the owner will be letting me in tomorrow to see the home. My realtor says this is highly unusual. I am not sure what to expect. Are there any questions I should ask the owner? If I really love it, should I let the owner know? submitted by /u/Famous-Guitar8328 [link] [comments] source https://www.reddit.com/r/RealEstate/comments/l8dbwj/need_advice_for_seeing_a_home_tomorrow_with_owner/

I’m purchasing a home with my brother and we are putting it under an llc. When it comes to get the mortgage, I know the bank will most likely want a personal guarantee. My question is, do we both have to personally guarantee it? My brother wants to purchase another home on his own, so we wanted to know if it was possible for just me to Guarantee it. Has anyone done this before? Thanks submitted by /u/fetacheeseee [link] [comments] source https://www.reddit.com/r/RealEstate/comments/l8d1c0/personally_guaranteeing_a_loan_in_an_llc/

Hi everyone. My DL is currently under my parent’s address and I was wondering if I need to update the address? I rather not be bothered with it since I’m always at my parent’s house so I don’t mind my mail to go there. I do have an owner occupied mortgage, freshly done. Thanks! submitted by /u/lindtdoo [link] [comments] source https://www.reddit.com/r/RealEstate/comments/l8a4vd/do_i_need_to_update_my_drivers_license_address_to/

Alright so im wanting to get into real estate and i have the option to go to college but what would be the best program that may help me with real estate submitted by /u/Nodangles97 [link] [comments] source https://www.reddit.com/r/RealEstate/comments/l8c5z9/advice/

So I’ve been living in an apartment for about 2.5 years, with my mother and I currently on the lease. In October, our lease ended and we were waiting to resign for another year. I was in contact with the office and they told me they were going to let me know when to go to the office to sign. A week after I never received a reply, I went to the office myself to see what was happening. They told me the lady wasn’t there and she was going to call me when she was so we could sign the lease. I left it at that. I figured they just weren’t doing their job properly. Come mid February, I received a termination of tenancy paper saying that our month to month lease was being terminated and we have to be out by the end of the month, leaving us with 14 days to find a new place. I went to the office and tried to talk to them about it, they said they switched landlords and that was their decision. When asked why the office never called me back to sign the lease, they said they reached out several t...

Hi everyone, I'm a first time home buyer. I'm just browsing houses and not entirely serious about purchasing a house YET. But I have a few questions regarding the preapproval process. Some details: I recently was hired full time (about 2 months ago), where before I was working part time at near minimum wage. I am now salary making almost 3 times as much as I was making before. Should I wait until I have more paystubs before I apply for preapprovals to show that I have an "established" income? I have about 3 so far. I'm curious if my old income would cause me to get a lower preapproval. Can I apply to multiple places for a preapproval? If I get a preapproval now, can I "re-apply" for another one to see if I can get a higher one later down the road? If I get a preapproval, I'm not required to use it? I'm mostly curious how much I can actually afford while looking. I don't want to look at houses TOO expensive. submitted by /u/Tig...

I've been looking for a primary home as well as an investment property and I'm looking in two different areas. So whenever I see a property that I like in one area I contact that realtor because he knows the area better, and is also a 5 minute drive as opposed to 40 for my other guy. Is this wrong? I never signed anything. and I would feel bad if I closed on a deal while the other guy was showing me properties as well. But as a customer buying a pretty big transaction I want to work with the realtor best in that particular area. submitted by /u/soyerom [link] [comments] source https://www.reddit.com/r/RealEstate/comments/l8b7yj/is_it_wrong_to_work_with_multiple_realtors/

Well I’ve made a HUGE mistake. I found out I was pregnant with baby #2 and we rushed to find a new home to accommodate our growing family. Due to the limited market this fall we settled on a home that was actually 50k under what we were going to pay but it needs a little work, which we knew. Well, we put in an offer and I immediately began regretting the decision. I hate the super steep driveway, the neighborhood and now everything seems to be replaced...we already replaced the stove, dishwasher and now we have new windows coming for downstairs. I hate the outside of the house, the lay out, the small bedrooms, etc. I told my husband what I was thinking during the buying process when we were in due diligence and I even wanted to back out a week before and he told me a was being crazy or hormonal. This house was not the house I wanted or envisioned being our 2nd home but we were going to have a slightly lower mortgage and we took out money to pay off all our credit card debt. Financia...

Hi all, after getting outbid 4 times, I finally got an offer accepted. Getting pre-approved was easy, took maybe 2 hrs. However, this whole mortgage process has been nerve wracking and I constantly think about things that could go wrong. I’ve already paid for an inspection and waiting for the mortgage company to order an appraisal. The company requested typical W2s and account statements...etc. I got an email saying that I was approved with condition today and now they want a things like letter of explanation for my income, my credit card statement and something that says my balance is $0, and funds source and other things. All these requirements are making me very nervous and uneasy. My closing date is scheduled March 13 because the seller needed time to find a place to stay. I truly think I’ll drive myself crazy. I think of so many things that could go wrong..... Let’s say if they approve me for an mortgage. Can they change their mind right before the closing date? What if they ...

I've never invested before but with most of the duplexes and triplexes I see on zilliow, if I run the numbers it looks like I usually get a negative ROI using a standard 30 year 20 percent down mortgage. Is there any states out there where there are better deals? Is there any place other than zillow that I need to look for real estate deals ? submitted by /u/pugglyman [link] [comments] source https://www.reddit.com/r/RealEstate/comments/l8az5o/is_anyone_finding_deals_with_a_positive_roi_i/

I am looking to purchase a house in TN as my primary residence in retirement. I am looking at fixer uppers to update and make my own, and this would be an all cash offer with no financing. In addition to the cost of the house, what other costs would I expect during the purchase process? Would these costs be flat costs or tied to the purchase costs? I have not owned a house before and appreciate your answers to my questions. submitted by /u/andyfrain [link] [comments] source https://www.reddit.com/r/RealEstate/comments/l8arff/cash_offer_closing_cost/

In NJ. There should be building inspections done, but wonder if I should get my own. The place does not have a basement. submitted by /u/maddenppl [link] [comments] source https://www.reddit.com/r/RealEstate/comments/l8akvu/do_you_do_radon_testing_andor_hire_a_home/

Location: Illinois So I dated a woman for 8 years (never married). We purchased a house together through a joint fha loan and then had a messy breakup about a month later. The timing couldn’t have been worse! It’s been about 6 months and now my ex is refusing to split the mortgage payment. Her idea is that if she doesn’t pay...since she is also on the deed I’m forced to pay her share and she plans to live in the house for free. Our mortgage lender informed us that since neither of us make enough income to buy one another out, the only option would be to refinance the home and resell or default on our mortgage. The issue is, we overplayed significantly on our home...and I truly believe that it would be a massive financial mistake to resell our home so early. It would at least need more renovations to fetch the price we originally payed. What kind of legal options do I have in this situation? I will be struggling severely to pay everything on my own...and my ex is basically entitled ...

I have major appraisal anxiety. Put an offer on a home for $330,000 that was listed for $333,500 after it sat for 11 days and it was accepted. Two homes in the area that sold 5-6 months ago comparable to ours went for $325k and 326k. Seeing how they sold a while back should I be concerned with the home not appraising for what we offered? We could cover the appraisal gap if it say appraised for $326k but would prefer to keep hold of that liquidity. Appraisal was ordered yesterday with a want dat of 2/8 and my nerves are all over the place. submitted by /u/_CurlyTemple [link] [comments] source https://www.reddit.com/r/RealEstate/comments/l8af8c/fthb_with_appraisal_anxiety/

Okay, so the market here (and throughout the country) is insane as we all know. There’s very little inventory and I’ve been helping my aunt and uncle find a house in the OKC suburbs. Everything and I mean everything seems to be taken with very little being built. Prices are going up like crazy. My aunt and uncle want to buy now and part of me worries they’re panic buying but they sold their house awhile back and want a house instead of renting. The current predicament is that they found a house that seems to be reasonably priced, a little above their budget. The problem is, it’s a 5BR and it’s literally just them two and the occasional visit from my sister and I when we sleep over. Is this crazy? Is it crazy to buy a 5BR for just 2 people? submitted by /u/Rickrossthaboss32 [link] [comments] source https://www.reddit.com/r/RealEstate/comments/l8aavj/buying_a_5br_house_for_2_people/

Getting ready to list our house for sale in the next few weeks. Realtor is giving us the option to only accept offers after the first weekend. I’m familiar with the strategy behind this, we went through it when buying. I feel like it’s more fair to buyers to at least give them a chance to look and think about it before offers are accepted. However, as a seller you should only really care about the bottom line, so which option normally returns a better offer? This is Madison, WI, btw. submitted by /u/StopSayingPump [link] [comments] source https://www.reddit.com/r/RealEstate/comments/l8a8pl/accept_offers_anytime_or_wait_until_after_first/

So the real answer is yes - we want our realtor to work with us. The real question is Can we ask for her help and not pay her full commission? (without being jerks) We have a good relationship with our realtor and we reached out to her in the fall about selling our home and a rental property as we are leaving the state. She knew of an investor that might be interested in our rental home, but because of covid (gov restrictions) nothing's happened since that time. In the meantime a friend said they want to buy our house, have made plans to sell their home and move in. We still want to work with our realtor, particularly as we have the rental to sell. How do we say that since we have a buyer and won't be showing the property, we'd like to compensate her for document preparation and review? Or do we just ask the realtor to sell the rental and have a lawyer put together everything for the sale of our home? tl:dr - As a seller how much do we compensate our realtor if we have...

Any lenders you’d recommend for a US citizen living in France who is looking for an investment property in Southern California? Checking HSBC and better.com but wondering if there are any others. submitted by /u/ElaraLarala [link] [comments] source https://www.reddit.com/r/RealEstate/comments/l88895/best_lenders_for_us_citizen_living_overseas/

We are interested in a 1972 home. General inspector looked inside the garage and suspected the walls had asbestos but says he has to get permission from seller to break off some samples for testing. Seller has multiple offers and as such is refusing to let the asbestos testing go through. Anyone have advice on how to proceed? I don't plan on doing DIY stuff to the garage but I'm not 100% sure how possible asbestos in the garage would affect our use of the house or additional precautions we would need to take. Thanks in advance! submitted by /u/MAIRJ23 [link] [comments] source https://www.reddit.com/r/RealEstate/comments/l887ym/seller_of_1972_home_wont_let_us_do_asbestos/

Put in offer, below ask price (podunk town, my agent ran comps, etc.- def not a sellers’ market or hot area with a plethora of lower priced competition) with an ask for closing costs & “home warranty not to exceed $800.” Home is over 100 yrs old, likely has mold and there are cracks in the plaster walls in EVERY room. It’s been on the market since the summer of 2019 with one price drop after a year. No idea if they’ve ever had an offer. Their counter was reasonable (only if you take into consideration they are way overpriced out of the gate), but they maxed out the home warranty at $600. I’m irritated by the measly $200 refusal in the warranty. Seriously? I’m willing to buy your home for hundreds of thousands of dollars and you’re gonna pull off $200 from a warranty? I am irritated (with a tinge of amusement). It just seems petty - so hit me with your best shot - I obv like the home enough to lay down an offer, but it’s not a must have and am leaning very heavily to walking on...

I have a home listed for sale in PA and recently received 3 offers the same day. It is a unique property with a creek setting. The home was a grist mill in the early 1800s and was converted to a home in the 1980s. It is a beautiful place but needs some work to be perfect and the 3rd and 4th floors are unfinished. -One offer was cash but too low. - A second offer was okay but the realtor we were working with (because this offer was written by our realtor) suggested asking for $10k more if we wanted to take that offer. This offer was contingent on obtaining a mortgage and a structural engineer assessment of the building. -A 3rd offer was a cash offer. It was $20k more than the next closest offer. The buyer sent a letter along with the offer stating how much he loved the house and the land. The 3rd offer included contingencies for home inspection, water, land use/zoning and pests. The agreement related to the home inspection states that the buyer would pay up to $30k for any repairs with...

We bought a new build this year and have not had internet for a month (and likely won’t for another two months) because our home is not connected to the main cable line. The two internet providers listed by our builder both cannot service our house without additional construction work. The builder says it’s up to the internet providers to extend their service to new homes, but doesn’t the builder have a hand in this too? Our neighbors have yet to move in, but will likely realize this issue when they do. submitted by /u/mreeeena [link] [comments] source https://www.reddit.com/r/RealEstate/comments/l7iji5/are_new_home_builders_responsible_for_ensuring/

I’m brand new to real estate and looking into possibly buying my first rental property. I know the housing market is booming and am curious to know if it’s worth waiting a year or two. submitted by /u/swedishfish44 [link] [comments] source https://www.reddit.com/r/RealEstate/comments/l7i531/is_right_now_a_good_time_to_buy_or_would_it_be/

It is so competitive that everyone waives this clause. Will it appraise higher due to the competitiveness? submitted by /u/ManTitMan [link] [comments] source https://www.reddit.com/r/RealEstate/comments/l7i3zy/if_i_waive_appraisal_clause_and_bid_over_60k_of/

I'm considering buying some property that is adjacent to a narrow strip of public land. I suspect that strip exists to satisfy anti-landlock requirements when the land got subdivided. However, the land isn't a road, or even cleared, it's a dense forest. Can I do anything more than walk on that land to reach my property? Is there anything, beyond the good will of the local county officials and planning board, I can rely on to get vehicular access? I am intentionally not listing the specific state because I'm looking at similar situations in two states and likely more in the future. If the answer turns out to be different in different states, I'll pursue them separately one at a time. submitted by /u/sparr [link] [comments] source https://www.reddit.com/r/RealEstate/comments/l7hb2m/access_to_a_property_thats_not_landlocked_but_the/

I’ve been considering buying property for some time now, and have had my eye on a couple of homes for several weeks. Earlier this week I checked my credit score (soft inquiry) and today, got in touch with a lender to get a letter of pre-approval, which of course involved a hard inquiry. My credit is better than I expected (801), but I know it’ll now drop after the hard inquiry. Now, however, I’m second guessing whether this is the right time for me to move forward with the process, and am debating holding off for a year, or at least waiting to see how things in the housing market change throughout/after the pandemic. My question now, is whether or not having the hard inquiry done is going to negatively impact me in the long run? Will it look bad if I stop seeking a loan to then return to this a year or two from now? Is it bad that I jumped the gun in getting pre-approved before I was really confident about buying? Thanks in advance. submitted by /u/Chance-Comfort8788 [link] ...

My wife and I began searching for a home in the fall. We quickly got our pre-approval and certificate of eligibility from the VA. We found the home that we had dreamed of at the beginning of November. (We live in a rural area where everyone is familiar with one another). Our realtor is a long-time friend of mine and was brutally honest throughout the duration of the process. He mentioned that the selling agent told him numerous times that it was a waste to show the house because according to her "it will never pass a VA appraisal". Our realtor encouraged to move forward only if it was the home that we wanted and that if not, we could continue looking. We made our offer which was quickly accepted and signed a contract on the 15th of November. The only modification to the contract was the seller/selling agent requesting that the negotiation period be cut from 10 days to 5. We happily agreed as we were eager to own our (hopefully) forever home. My deposits were made and our ins...