We waited to purchase a new build in Ontario, CA in the Inland Empire in San Bernardino County. We did the math MULTIPLE times and used all kinds of wacky tools online to get a good idea of what our monthly payments would be. It appeared we could afford the home, but when it was our turn in the phase release we were told the tax rate is actually 1.86% and not 0.86% because it was a developing area and it was the 'mello-roos' tax. We were devastated. It meant that the property tax we were estimating to be around 500ish a month was going to be closer to $1200 a month which put us well over budget for our goals. Of course it was our fault - we should have asked. But now we've decided to pivot and considering getting existing houses in the vicinity (built post 2005) but scared we will run into a similar issue and don't have the time to call every single listing agent to confirm property tax on each house we're interested in. Any tips? submitted by /u/SoySanjay

I wanted to write a letter when we put an offer on a home. My real estate agent made it appear that it was pointless. Told me all seller cares about is getting the best offer and making the most money. Which is true? submitted by /u/lilkidlover2 [link] [comments] source https://www.reddit.com/r/RealEstate/comments/mhn1qb/does_writing_a_letter_to_the_seller_when_making/

My realtor made me feel like none of these were adequate enough to negotiate ( she hasn’t seen official report yet) and I was just looking for other opinions . Home built in 1956 , this is what came front the inspection. Seems like most water damage could be explained from chimney seal and from vent at top of the roof leaking - Not sure if this is RUN standards ... inspector was oddly happy with the house overall (wasn’t sure they leaned any which way) Anyone’s advice welcomed . I am just looking for help understanding the severity of this in a house this old ... so I’m not caught off guard when I speak to my Realtor tomorrow . top concerns. submitted by /u/slmcgarvey [link] [comments] source https://www.reddit.com/r/RealEstate/comments/mhmuqi/inspection_results_and_reddits_thoughts/

Anyone who has gone through HELOC recently, can you please answer below questions: I have 30% equity on the house. 1) Recommended lenders with best rate ? (Prefer if there's any lender that does 90% LTV instead of 80% LTV). 2) What is the current expected rate for someone with a good credit score and assets ? (I see online that HELOC typically follows Prime Rate +- Margin rate) ? 3) Is the rate usually negotiable like primary mortgage rates ? 4) Can we open two HELOCs on the same equity ? submitted by /u/ZeroNomad [link] [comments] source https://www.reddit.com/r/RealEstate/comments/mhmb0z/heloc_shopping_recommendations_and_current_rates/

My understanding is that its been extended and extended, eventually it will come to an end and I havent been able to read about any plan to handle those massively behind on their rental dues. Does anyone have information towards this? Id assume there will be a transition to prevent renters behind on dues being evicted submitted by /u/Bigbluebananas [link] [comments] source https://www.reddit.com/r/RealEstate/comments/mhlkuw/when_the_federal_eviction_moratorium_ends/

Is there any rub to owning 3 homes I need to be aware of. 1/ Primary residence 2/ Investment property (under an LLC) 3/ Buying a retirement/second home. Assuming not, but just an overall question if there are any tips/tax/borrowing etc. submitted by /u/Boldbluetit [link] [comments] source https://www.reddit.com/r/RealEstate/comments/mhllbr/multiple_property_ownership_question_3rd_property/

Are there any counties in Wa where they allow tiny homes & tiny homes on wheels for lease & STR in your backyard of either a SFH or MF? Curious about multiplying revenue streams. submitted by /u/ForestRoamer [link] [comments] source https://www.reddit.com/r/RealEstate/comments/mhlheo/tiny_home_on_wheels_as_a_str_or_rental/

I met with a potential selling agent today who told me that although sites like Trulia, Zillow, Redfin, and realtor.com are showing a price around 990k, his appraiser is saying more close to 900k due to a small backyard. I live in Los Angeles in a hilly area. I am not sure if this means he is being brutally honest with me or if he is just lowballing to make a quick sale? Any advice would be much appreciated. submitted by /u/dayvekeem [link] [comments] source https://www.reddit.com/r/RealEstate/comments/mhlb3s/small_backyard_10_sell_price_in_los_angeles/

Hi All, I can’t believe this is happening but I closed last Friday with a 5 day rent back and was supposed to be getting keys tomorrow, but I just learned the sellers are not moved out. They waited until now to tell me that their own escrow had some hold-ups and they won’t be ready to leave until Sunday at the earliest, but no guarantees. The sellers realtor stopped answering his phone. What should I do? I think they are actually planning to move out but nothing is certain anymore. Should I lawyer up immediately? They are telling me they will back pay rent. I had scheduled deliveries and plans for tomorrow... submitted by /u/orioneslol [link] [comments] source https://www.reddit.com/r/RealEstate/comments/mhkfk8/sellers_have_not_vacated_property/

submitted by /u/JamonRuffles17 [link] [comments] source https://www.reddit.com/r/RealEstate/comments/mhjs6d/is_the_entire_market_way_up_or_just_sfh_people/

We did it! Closed today on a 1700 sq foot 3/3 on .34 acres literally on the shores of a major reservoir in the Colorado foothills 15 minutes outside of the hip college town where I work. Approved for 750 but looking around 650. Made three offers that did not work (and with significantly greater tradeoffs than this). My husband found a FSBO that wasn't on the MLS, listed for 700 and had sat for a week or so - we called our realtor, saw it, and came in person the next day to put in our offer. When our realtor got there, an agent was nailing up a sign! But we were "grandfathered" in since we saw it before and after some live action back and forth got under contract at 660, each side paying 1.5 commission, conventional loan with 5%, all contingencies intact (seller ended up crediting some repairs, we sweated the appraisal). And then the calls started coming in based on the sign . . .too late. Lakefront, lake views, across from marina, backs to multiple trails, 20 minutes f

Hi all, first time posting. Looking for advice for my situation. My dad owns a piece of land with nothing built in Texas that he would like to transfer to me. He’s retired and on limited income and would like me to take over the property tax payments. We both have no idea how to proceed with the transfer. Would we need to contact a real estate attorney to assist with the title transfer or is this something we can take care of ourselves with a quit claim deed? Any advice is much appreciated. submitted by /u/spicy_amano [link] [comments] source https://www.reddit.com/r/RealEstate/comments/mhklws/transfer_property_ownership/

I toured a rental home that I liked. I applied. The homeowner got back saying if I would sign a longer lease then she’ll choose me over this other person. I said yes. She said great, I’ll send you the docs. Now she won’t reply to me. I already sent a follow up email, but it’s been over a day and still no response. Should I assume she pulled the rug last second and chose someone else? If so, what a dick move after accepting my app. She could at least tell me she decided to move forward with someone else. submitted by /u/nicebrah [link] [comments] source https://www.reddit.com/r/RealEstate/comments/mhkj05/i_toured_a_rental_applied_got_accepted_they/

I'm in the middle of negotiating a settlement on my mortgage. I'm either doing a principal balance reduction, short payoff or deed in lieu. I'm current on payments currently & plan to be until I resolve the debt. My credit is currently around 800 with nothing negative & a healthy mix of accounts, etc. How would you approximate the credit drop from this? I can't find anything about it when you haven't had late payments along with it. I'm trying to negotiate out where they don't report it negatively but idk if that will happen. submitted by /u/ProperPudding6 [link] [comments] source https://www.reddit.com/r/RealEstate/comments/mhk64k/negotiating_a_foreclosure_alternative_possible/

I'm 27 years old and the majority of my friends that are buying love to note how "interest rates are so low, it's a great time to buy" I understand there are many, many, factors at play here... but if interest rates go higher, I don't know that this same crazy high demand in sustainable. ​ In fact, I think it's possible that once we get a grip on COVID, people start going back to work, and government raises interest rates --- we will see demand drop submitted by /u/JamonRuffles17 [link] [comments] source https://www.reddit.com/r/RealEstate/comments/mhjy1b/housing_shortage_due_to_demand_but_do_people/

I'm a 22 year old looking into buying a cheap property so I can rent out to make a passive income. I have passed my real estate exam and am just looking for a realtor to work for so I have some knowledge in the field. I have over $30k to invest and my mother also wants to invest and has over $50k to invest with. Is it possible to find properties in New York around this price range to do what I want to do? I also have friends who live in other states like PA who are looking to do the same thing, should I also look at properties in other states since they would likely be cheaper than New York? submitted by /u/ghost871 [link] [comments] source https://www.reddit.com/r/RealEstate/comments/mhjxqy/looking_to_invest_in_and_rent_out_property_ny/

Ok sorry in advance this is a little long, but wanted to provide as much information to get the correct feedback. Thanks in advance! Here is my scenario. I own a house (Crest Dr) with a mortgage of around $110k. My sister owns a house (Kip Ln) with a mortgage of around 115k. My sister moved into the Crest Dr house in Jan 2020. My sister moved out of the Kip house after she got married but our parents still live in the Kip house. I live in another house that I own. Our plan was for my sister and I to basically buy each other's houses (Crest Dr and Kip Ln). My parents would continue to live in the Kip Ln house. Right now, I still pay the mortgage on the Crest Dr house and she continues to pay the mortgage on the Kip Ln house. We would basically buy the homes for what is owed on it (my sister would pay the higher amount) I would like to buy the Kip Ln house where my parents live but buy it not as an investment property so that I can get the best interest rate and to be able to

How do you think the loan forbearance will affect Escrow? Are State taxes/Insurance going to want all at once and screw people over? I understand people will have the option to refinance but I’m seeing refi rates have increased so they might have higher payment. Also I think this CDC Eviction Ban will free up some more inventory. Thoughts? submitted by /u/Icy-Memory-5575 [link] [comments] source https://www.reddit.com/r/RealEstate/comments/mhjmlz/thoughts_on_current_status/

I’ve two questions on Quit Claim Deeds. I’m sure this is a topic that’s frequently visited, but I can’t seem to satisfy my interest in the subject. I’m looking into purchasing a vacant lot which has a Quit Claim deed. From what I can tell, it is inherited property that is under current ownership since last July. Before that it was owned by someone of the same last name since it’s purchase in 2008. I also own another vacant lot that has a Quit Claim deed. I purchased last year from an individual that bought it at the county tax sale. My intentions are to build small homes on both properties. After reading a lot of different info on Quit Claim Deeds, most of which advises to steer clear of these types of properties. So, question 1... Should I stay away from the pending purchase of my recent vacant corner lot find? Question 2.... What can I do to ensure I can safely build a home on my current QCD property? Properties are located in South Carolina if that matters on the direction of

We are currently in the process of closing on a house and everything seemed to be in track until we got word from our attorney that there is an open mortgage listed in the title that needs to be cleared before we can close and the sellers attorney is working on it. This is going on 3 weeks ago now and my wife and I are both starting to get anxious. We were just curious if anyone has run into this and if there's anything we can, or should do, in our end to try and speed things along submitted by /u/solace67 [link] [comments] source https://www.reddit.com/r/RealEstate/comments/mhjcvk/open_mortgage_on_title/

do i need two years work history at an income high enough to afford the mortgage payments? is there a way to get around this? i’m currently 19 y/o and i would like to get my first multi unit property so i can house hack and move out of my parents place. i’m currently in the process of getting my real estate license and i’m confident i’ll have the income necessary to cover my expenses but i’d also like to move out sooner than later, i don’t wanna have to wait two years of working as a real estate agent before moving out. submitted by /u/veryrarekirael [link] [comments] source https://www.reddit.com/r/RealEstate/comments/mhjc4o/how_can_i_buy_my_first_property_without_two_years/

Would someone please explain to me how long it usually takes a real estate attorney to put together a simple residential sales contract with the normal contingencies. Wondering if my expectations are significantly out of line or if something else is going on. submitted by /u/4dacommentsonly [link] [comments] source https://www.reddit.com/r/RealEstate/comments/mhj336/issues_with_getting_a_simple_residential_sales/

Quick backstory: I put an offer on an house, lost out to another buyer, that buyer then did an inspection and then backed out during option. The home went back on market, and I put another offer in and moved forward with the home. It sounded like the story was the original buyers decided they wanted to be more central. The listing when it went back on market stated the previous buyer “got cold feet” and the inspection came back “flawless.” I just finished my own inspection and it’s nothing close to flawless. There is roofing damage, grading issues, caulking and sealing problems, and other cosmetic issues. Nothing that’s going to make the house fall down and it’s a recently built home, but things that I feel should’ve been disclosed. My question: are sellers agents required to be truthful in real estate listings? Honestly it makes this whole thing smell worse that they used the word “flawless” after getting an inspection report where there’s no way these things weren’t called out by

Look, we get it. Sellers have the power. Listings are gold. Multiple offers. Yada Yada. You need to remember that this is a HUGE decision for a buyer. All of their money and their life, right? So give them the time they need. No contingencies and a 5-7 day inspection is incredibly stressful for a buyer (and buyers agent). As a listing agent, I'm sure to give buyers time. See the home. Think about it. Come back a second time, make an offer, I'll give you a counter with disclosures. Come back again before you respond. Buyers are nervous enough. No need to add the fear of them losing their earnest money deposit. Calm down, take a beat, and it'll lead to a good price and successful closing and good outcome for your seller. submitted by /u/bjk2020 [link] [comments] source https://www.reddit.com/r/RealEstate/comments/mgyors/listing_agents_we_know_its_a_hot_market_stop/

Hello! Me and my wife are about to close on a home in 2 weeks and we're wondering about the eviction ban. So on our offer, to make it stronger, we gave them 2 weeks free of rent as they need time to relocate.im just concerned because in california you can't kick anyone out. I'm just scared that what if they don't want to leave. Anyone have any suggestions on what I should do? Or anyone know someone who went through this submitted by /u/iliketobefunny [link] [comments] source https://www.reddit.com/r/RealEstate/comments/mgxshc/californias_eviction_ban/

submitted by /u/UnofficialUnicorn [link] [comments] source https://www.reddit.com/r/RealEstate/comments/mgxo61/compass_realtors_in_md_area_how_common_is_it_for/

Hi! I'm currently waiting to take delivery on a 3-story townhouse built by DR Horton (Yeah, I know new construction is a gamble, although I didn't think I would be worrying about this!) I'm getting ready to lock my rate so I wanted to do a little impromptu walkthrough today and I saw a large crack on the edge of the foundation that appears to traverse the entire length of the wall (it disappears under each side past the sliding glass door). The area is in the middle of wetlands (ok, swamp :D) in NJ, but it's really built up and the rest of the units don't really appear to have any sort of problem with this. There's no basement so I figured no worries. From what little research I've done thus far, it appears that this sort of cracking can occur when the foundation is already moving/water underneath/they didn't fill it properly? Closeup Crack Crack Againe More The very last image here shows another crack going the other direction but it seems MUCH

We closed on our house a few months ago and the seller, Fred, left a note (see link below) in our mailbox today saying they drove by and noticed they left “their” bench and to please call. Ridiculous! The same bench was here when they purchased the place a few years ago. What’s next, they’ll want “their” lightbulbs back or “their” lemons off the trees? 😏 List of people I won’t be calling: 1. Fred seriously? submitted by /u/shiwala [link] [comments] source https://www.reddit.com/r/RealEstate/comments/mgx72p/drop_dead_fred/

Downvoting is welcome if you feel like it, as that is a useful data point for me about whether there is a housing bubble. Please make sure any trolling comments are at least funny. Thank you. submitted by /u/Floptombulance [link] [comments] source https://www.reddit.com/r/RealEstate/comments/mgx4bw/people_in_this_sub_are_overconfident_about_their/

Do you think that we will see a time where a one bedroom in downtown be worth 3 million cad ? I live in Vancouver but it really applies most places. submitted by /u/lastfrostymanny [link] [comments] source https://www.reddit.com/r/RealEstate/comments/mgwwts/the_future_of_the_housing_market_major_citys/

With so many homeowners refinancing at record lows or buyers locking in low rates, what will be the effect on the future real estate market? Assuming rates continue to rise, what percent of homeowners will be discouraged to sell their current home and purchase a new one at higher interest rates? submitted by /u/radiocontrolled [link] [comments] source https://www.reddit.com/r/RealEstate/comments/mgwv1w/will_record_low_interest_rates_encourage/

About a month ago, I put an offer on this property that had two units ( 2BR/1 BA and a one BR/1BA) on one parcel of land (as per the listing). 60 year old construction but inside recently renovated. Offered 15k less than the listing price with 2000$ EM and 800$ DD fee. After it got accepted, this first issue I encountered was one of the lenders I talked to said this loan was not likely to close due to the fact that it was 2 units on one parcel and that the seller had not parceled the property yet (the whole parcel had 3 units on it. 1 house and the property in question, the one with the 2 units that I placed an offer on. Owner of record on county PRC was decreased, her heirs signed the purche agreement). I still went ahead and found another lender (for owner occupied) and scheduled a home inspection. Home inspection turned up a lot of issues. The roof on the smaller unit would need the roof replaced in about a year. Water damage in the basement of the other. French drains needed repla

Hi, I’m 16 and currently in high school (Texas). At the time I’m really not quite sure what to do for a living. I get A’s in all my classes, but going to college doesn’t really interest me. I don’t have any prior knowledge of what to expect in real estate, so my questions are: 1. What job in this field pays well, without a college degree (I’m okay with taking courses, I just don’t wanna have to attend college) 2. Is it financially stable, with great job security until retirement? 3. Are there any benefits? Like connections 4. From all the videos I see, is it realistic for me to one day make 6 figures a year 5. Are there any classes in high school I should take in order to be prepared 6. How quickly can I enter this field (P.S with my income I plan on one day becoming a landlord, so I’d like to make enough to pay the mortgages) submitted by /u/isaac_1000 [link] [comments] source https://www.reddit.com/r/RealEstate/comments/mgwpp8/whats_a_great_job_to_pursue_in_the_real_esta

I just am hoping for some advice on how to make the most enticing offers with an FHA loan. Backstory: My husband has extremely low credit usage (only a car payment) , a good credit score (707), and makes a decent income for our area ($60k). We are preapproved for up to $350k but our only option is an FHA loan because we had a chapter 7 bankruptcy two years ago. We sold our house last week and have three months to find a new home AND close while we rent back. We have enough for a 20% down payment. So obviously, we would qualify for a conventional loan if that was an option but it’s not because of the bankruptcy. We’ve bid on four houses THIS WEEK and lose every time because of the FHA. We’re waiting for an answer on a house that we’ve bid $21k over asking and have an escalation agreement as well that we will probably lose too . I’m hoping someone has any suggestions on how we can structure our offers to make us more appealing to sellers. We already do a higher earnest money offer th

Sooo.. today was my closing day and it went awful. I’m going to try to keep this as brief as possible. But it may be hard. I got a call from my agent (who’s actually my ex step mom) and she says there’s an issue with the appraisal. (Appraisal originally came in $100 over asking) Apparently the appraiser only submitted 2 comps and FHA wanted 3. The appraiser was non responsive and I had no clue until today. My closing was at noon, then got pushed to 3. Then didn’t happen at all. So now we’re awaiting to see if the comps they sent over are acceptable and if not we have to negotiate a lower price AND it may have to go through another appraisal which they want to charge me for. (Ffff that) The seller is a single mom going through a divorce and she was supposed to close on her house and she couldn’t either. This is nuts. I can’t believe this. So my agent says we’re shooting for a close tomorrow but right now I’m in a hotel and I am steaming. How could this process get so far along witho

I'm going to put an offer on the house listed by Redfin through Redfin agent. We toured 30+ houses through Redfin and wanted to continue with them. Before this house, we put an offer on other house which was not accepted, but in the process our trust grew. Our agent was helpful and insightful. Now, We are planning to put an offer on Redfin house. Pre-inspection went well and told my agent that we want to go-ahead put an offer. Our agent delayed to get us more info from the listing agent (Not typical, he is generally very responsive). Our agent told us that, it is listing agent's "MO" (being unresponsive). (Flag 1) Finally, listing agent told that he already has 75K -100K(10%-13%)over list price and expecting 2-3 offers. In the 5 days it is listed, only 5 showings were scheduled and I'm keeping an eye on daily schedules (Not much traffic) and I'd been talking to the agents about schedules, they also told me that it's wide open for the next two days, co

I bought a 1250 sq ft ranch 4 yrs ago for 128k. I think I am in over my head and am not a handy person with little extra time with work schedule and family. Wondering if selling and moving trying to find a place that is better maintained may be the best route, can prob afford a 220-250k home. Houses in my area are selling for around 175k for same size or less. Mine would have to be at a discount based on the below. Here's some things that need to be addressed: Foundation crawlspace is dirty, musty despite a sump pump that was put in 2 years ago as well as gutters tied together running to a bubbler to the street. Currently trying to call someone for estimate Bathroom needs some remodeling for tub/shower, 2 estimates so far for 4k (small bathroom) Roof will need to be replaced within a couple years Bathroom fan vent needs to be fixed to go outside. Floors should be replaced as some doesn't match, scratched up and not put in with care to begin with. Washer sme

I feel like I must be missing something, and I’m genuinely curious to hear other people’s thoughts on this. In my area, the median household income is $50,000-$60,000. To be in the top 1% of income earners requires a household income of approximately $540,000. This means roughly half the population should be looking for a home at a price point of $180,000-$240,000 or less, using the 3x-4x income rule. If you make $540,000, and follow the 3-4x income rule, you could be shopping for homes in the $1.5 million to $2 million range (and this assumes you’ve managed to save $300K-$400K for a down payment which is no small task). But, in theory, you should be competing against only 1% of the other residents (at most) because only 1% of people earn enough to purchase a home at that price point. Yet each time one of these houses hits the MLS, it sells above asking price within just a few days. These aren’t investment properties or run down houses in need of a reno that would draw in developer

Sorry! I know this is only for mainly realtors but i couldnt find anything for transaction coordinators! Im interested in it but would love more insight on the career submitted by /u/AsiasDelight [link] [comments] source https://www.reddit.com/r/RealEstate/comments/mgv1gi/ca_do_any_of_you_know_anything_about_tcs/

We have $1,050 in unused seller's credits that we want to use somehow or else it's just lost money... originally our loan officer told us the credit union don't allow ppl to buy down their rates...is that really a thing some places do?? Should I try to insist that we get a manager to let us do it? Or is there something else we could apply our credits towards? submitted by /u/redsharpie8 [link] [comments] source https://www.reddit.com/r/RealEstate/comments/mguoa0/credit_union_wont_allow_us_to_buy_mortgage_points/

So I don't know if I'm being paranoid or not but I'm here to ask and see if anyone feels I may be being brushed off purposely. So I began house hunting and found a home I'm really interested in, the house is kind of underpriced for the neighborhood, size, and etc.. so I figured something is up obviously. I called the agent to see what the deal is and they said the owner previously rented the property out and the last tenants destroyed the inside... broken walls and etc.. I asked if there was any structure damage and they said no so I figured I still wanna check it out as I can do a lot of stuff on my own and have relatives experienced in this sort of stuff, she kept repeating how damaged it was and etc.. kind of odd for an agent selling the home to be bashing a house but whatever.. agent hung up on me immediately after. 2 days later I made time in my day to go head over and check it out and she told me that the house was in acceptance already and it was signed for al

I’m currently a year into my house, I paid $415k, with all the VA related fees and closing costs rolled in, my principal is $424k. Currently I owe $422k at 3.25%. Rocket Mortgage has me approved for a VA IRRL at 2.25% with $15 out of pocket, fees rolled into the loan and I get $581 back. Total loan amount goes to $437k. My monthly goes from $2651 to $2469. Principal and interest are almost even. My question is, is it worth adding $15k to my mortgage? submitted by /u/StrategicBlenderBall [link] [comments] source https://www.reddit.com/r/RealEstate/comments/mgtd3b/refinance_with_higher_principal/

I’m looking to close on a property by April 21 but have not locked in a rate with my lender until this point. My lender came back to me with a 3.75% rate that I would need to pay points to get while I could get a 3.25 with Ally by only paying 1k more in points than what I would pay for a 3.75 with the local lender. If I was to go with a 3.75 with Ally, I would be credited about 5k. I’ve been playing around the math all day and if I go with the local lender, I basically lose 5k - either in closing costs or interest paid over 5 years or a combination of both. I am 100% sure that the local lender will close on time but I am very wary of Ally and have my doubts that will be possible even though they said they can do it. Do I go with the local lender and lose 5k or go with Ally and risk having to delay closing? I truly do want to go with the local lender because I trust them and will pay for quality so any Ally horror stories are welcome. I just feel like a 3.75 is not a great rate righ

I purchased my first home in 2016. I haven't spoken to a realtor but according to Zillow my house is worth about 35% more than what I originally paid for it. I was considering selling now and living with my mom until home prices come back down and then buying another house. Im just curious I guess, when do you guys think prices will drop again? I wouldn't want to live with my mom for more than a year. submitted by /u/like_a_seal [link] [comments] source https://www.reddit.com/r/RealEstate/comments/mgt3fd/when_will_we_see_a_buyers_market_again/

I run a decent general contracting business, but typically only on contract homes, so I have little in the way of assets. I'm looking at a set of 10 duplexes in my neighboring town being sold as a lot for $3.75M. I'd love to take them on as an investment, thinking I could have them paid off in about 11-12 years, but I don't have a down payment for financing. Anyone have ideas on how to get over that hurdle? submitted by /u/jrice441100 [link] [comments] source https://www.reddit.com/r/RealEstate/comments/mgt2af/trying_to_get_into_a_big_property_w_little_money/

We started looking for a house recently and now an opportunity has come up to purchase one. However we are catching a little cold feet from stress. Our baby is due 4 days after the closing date (April 26), im starting a new part time job monday, and we would be going from paying $300 a month for the place we stay, to $800 a month for the mortgage. I guess im just looking for advice on if this stress is a normal feeling, or if we are justified to be second guessing our decisions at a time like this. Any advice is appreciated. Thanks. submitted by /u/CatcherOfFish [link] [comments] source https://www.reddit.com/r/RealEstate/comments/mgszhu/baby_coming_is_now_the_right_time_to_buy/

This is a real question we asked our realtor this week. A story with twists and turns ahead. Started looking for homes in a popular area of the US. Find a cute home, put in our first offer, goes 100k over, cash. Sad, but not surprised, we regroup and look again. Find a 10x nicer home, cooler area, twice as big. Assemble offer and send to realtor. Start googling the neighborhood in more detail. Find an open homicide case for the town... oh no... same street... oh no... across the street from the property. Shit. Do we pull out? No...we are pretty tough... but we now don’t feel comfortable going over asking price. Call realtor and ask how much to discount the offer for murder? 25k seem reasonable? We laugh nervously on the phone. But then actually really have to decide this number for real. Start panic researching the murder in this tiny town. Find the private town Facebook group. Wait to get access. Turns out guy murdered was a huge jerk, like big time, violent, for awhile, to random p

Mostly, a newly working or low-income individual prefers to rent a house. However, they neglect looking at the same thing from a different viewpoint, they don't realize they should spend the same amount as the installment of the home loan and ultimately become the owner of it. However, Down Payment is the biggest challenge that comes in the way of this. Arrangement of the down payment is daunting for any newly working individual, as it required a large amount of capital. But thankfully HomeCapital has come up with a program called Home Down Payment Assistance , in which they provided up to half of the total amount of down payment which we can repay gradually in the next twelve months and the best thing about it is we are not charged interest for the same. submitted by /u/sumitverma101 [link] [comments] source https://www.reddit.com/r/RealEstate/comments/mg8t6g/rent_vs_installments/

I'm 26 and just passed my salesperson exam earlier this month but also got fired from my job shortly after. My parents are at risk elders and want me to only work remote. I was thinking about becoming a transaction coordinator because I want to start getting familiar with how real estate deals work when i'm ready (which would be once I saved up enough to get a place of my own) to work as an agent. Is there any other remote jobs in real estate? Other than TC I don't really see any other options in this industry that are completely remote. I plan on taking the CTC course offered on C.A.R's website, unless any of you know another place I can get tc training. submitted by /u/Current_Dare_8118 [link] [comments] source https://www.reddit.com/r/RealEstate/comments/mg81v8/any_jobs_in_real_estate_that_are_completely_remote/

I just finished the real estate course to be a salesperson. My instructor was not the greatest so now I’m attempting to reteach myself all of the material to prepare myself for the test and my career. Does anyone have recommendations on any websites/videos/Instagram pages I could go on to help me. Need to learn the basics & more. submitted by /u/toaosalma [link] [comments] source https://www.reddit.com/r/RealEstate/comments/mg78uu/a_guide_to_research/

So this is my first step into getting some kind of information or advice on what the first steps that I need to take into looking to own a place instead of rent. I hear all the time renting is just a waste of money and you're better off just buying or working towards buying a place but the thought of it freaks me out and I don't know a single thing about what I need to do. I don't know how realtors work, I don't know how to pay for one, and like most people I am going check to check so I don't have much to spare. Any kind of information that anyone has would be really appreciative. Even the smallest little detail I'm sure it would help. Things that normally you would look over it because you know, would most definitely help, and please for my sake try to explain like I'm five since I don't understand anything regarding any of this. Lol TIA submitted by /u/Sweetimus [link] [comments] source https://www.reddit.com/r/RealEstate/comments/mg77oc

A family member has an issue with hoarding. Their condo is paid off and they've been moved out so the place can get cleaned, including calling exterminators for a rat issue. My question is about maximizing profit when selling. Once the gutting has been done by the clean out company (including removing carpet and a stove that is old and filthy), is it smarter financially to do a basic renovation (paint, flooring, replace the removed appliances), or sell it as is? I'm assuming the latter would turn off a lot of buyers who might be intimidated by a reno, but the family doesn't want to pour major bucks into a top of the line reno if it's just going to be sold. As a point of reference, another condo in the complex in perfect condition sold last year for over 500k. submitted by /u/RandomRedditNameXX [link] [comments] source https://www.reddit.com/r/RealEstate/comments/mg75cc/renovate_or_sell_as_is/

Feeling very excited but also nervous. We have never sold a house before but we have a great agent who was actually my maid of honor so we have 100% trust in her. We were back and forth on the listing price, three weeks ago we thought $600k, then last week we decided on $610K based off of comps, then today we saw that the same exact model of our house was being listed for $630K. Theirs has a third car garage and their lot is 500SF bigger than ours, but the finishes are not as nice as ours, the house is 3 years older than ours, and the neighborhood isn’t quite as nice as ours so we decided to come in $15K lower than them for a listing price of $615K. I’m feeling pretty confident about where we sit price wise, but I’m sure I’ll be anxious tomorrow if my agents phone isn’t ringing off the hooks(we have a very aesthetically pleasing house) as we’re expecting a lot of lookers. We’re in a town of 75,000 people an hour east of the east bay and there are only 3 houses for sale in that price

I'm putting my 1 bedroom condo in a great neighborhood and great location on the market in about 10 days. I'm in a very hot seller's market with limited inventory where homes go very quickly. My question is regarding a cosmetic repair that my realtor is pressing me to do. I have a 6-inch section of baseboard in my small half bathroom that is warped out a few inches due to cat urine damage (I had a litterbox there that I didn't realize was leaking thru its protective mat). I have a few areas on another baseboard in that room with some discoloration and peeling. The contractors I've consulted so far have told me that I'd basically need all the affected baseboards replaced, and I might as well just have all four baseboards in that room replaced so they all match (I currently have colonial style baseboards that are hard to source). One contractor has quoted me around $300 for the job, but he's so busy he probably wouldn't be able to do it before we list.

This is an answer I’m going to find out tomorrow when I talk to our lending agent, but what can I say, I’m impatient. We close on our purchase Wednesday. All of our prelim CDs had this for title insurance costs: Lender: $2,731 Owner: $470 However, the settlement statement I just got says: Lender: $300 Owner: $3200 Our realtor is pretty sure they got switched in the settlement statement, and it’s actually: Lender: $3200 Owner: $300 We are in Florida, so the rates are set by the state, but I can’t figure out how to calculate it that way. Can anyone say they feel confident that lenders title insurance is always much more than owners, and the settlement statement is the wrong version? Or vice versa? This is important because $300 is a no brainer to pay for owner protection, but $3200...we may just take a gamble and waive it. But I’m guessing it’s the $300. submitted by /u/daphnedewey [link] [comments] source https://www.reddit.com/r/RealEstate/comments/mg3uoy/swapped_

I have been actively searching and aggressively bidding the last three months. After eleven years of home ownership, I'm leaning towards renting. This market is beyond frustrating. I bid $100k (12%) over asking, come to find out there was a total of 25 offers, five of which were apparently higher than mine in the NoVA market. submitted by /u/John4pod [link] [comments] source https://www.reddit.com/r/RealEstate/comments/mg6qeg/house_listed_at_850k_i_bid_952k_and_lost/

Can we add this to the list of disclosures? Our old house was haunted and I really didn’t enjoy that. submitted by /u/ZoZo4178 [link] [comments] source https://www.reddit.com/r/RealEstate/comments/mg6qcr/can_you_ask_a_seller_to_disclose_if_its_haunted/

I usually just lurk, but we finally got an offer accepted after 2 months and need to vent. We bid $15K over list, based on other recently sold homes in the area, the home appeared worth it. We did not waive any inspection or appraisal contingencies. We had the house inspected and it was mainly minor issues, with one semi-major issue with the support beams under the home. We asked for the seller to fix that issue, while we were waiting on a response to that, our mortgage broker informed us the house had a FHA appraisal in the last 6 months, and the appraisal was 35K under our offer price and 20K under list price. So now we are screwed over because we are doing a FHA loan and seller will not entertain offer at FHA appraisal price. It sucks they should have never accepted our offer knowing it was FHA when they just had a FHA appraisal under their list price. So now we are out the cost of the inspection and back to the drawing board in this market. submitted by /u/Learnalessoneve

I looked at zillow listing and most of the listings are pending or under contract in a few days. The agent I talked to even was able to sell an apartment in a few days without effort talking how nice the apartment is. I don’t know if she is just being lucky or the market is so hot that each agent can at least sell one in a month. Any Colorado real estate agents here? I need some advice before trying to be an agent. Thanks submitted by /u/ahflylife [link] [comments] source https://www.reddit.com/r/RealEstate/comments/mg5quf/how_often_colorado_real_estate_agents_sell_a_place/

FHB I signed a purchase agreement for a home. We had an inspection. Inspector found mold and the kitchen is slanted. I am loosing interests in this home and I already extended past the time I can get my $1000 back. I’m having doubts but my agent is pressuring me into just waiting to see if they’ll fix it. Even if they do I still have doubts. I’m going to contact my lawyer in the AM. Has anyone been in this position and if so what/how can I get around this? They can’t force me to sign anything else :/ This is my fault I shouldn’t of rushed it but not to put the blame on another person, but my agent hasn’t been really doing is job correctly. Any honest advice or stories will help. I know I’m not the only one. submitted by /u/Educate_Society [link] [comments] source https://www.reddit.com/r/RealEstate/comments/mg44f4/purchase_agreement/

I'm in the process of getting my first mortgage and after received preapproval from 2 places, a local credit union, and a local mortgage broker. The reason I went with the broker is the rate was slightly lower, and they were easy to get in contact with, and assured me they were using lenders who went by the lowest guidelines set me Fannie Mae . I am self employed and I know underwriting can sometimes me a nightmare, so I figured that since the rate was better and the broker made it seem the process would be smooth I should go with the broker. Well here we are 10 days before closing and I have to say this whole process of using this broker has been a nightmare. Getting any info is difficult because I have to go through one guy, who then has to contact the lenders secretary to get to the correct department. During underwriting they have me a set of conditions, which I gathered all of the documents quickly and they keep requesting more and more after I've provided everything

Has anyone received a counteroffer where a seller wanted a leaseback but didn't want to pay rent or even put down a security deposit? This seller also wanted a flexible period beyond 60 days in which to LOOK for another house, not just move. Purchase seemed like a nightmare waiting to happen, with seller potentially staying in house after demanding that escrow close in 15 days so they would have money in hand, while leisurely looking for houses and moving out after 6-8 months, the whole time living rent and property-tax free... submitted by /u/diespamtexters [link] [comments] source https://www.reddit.com/r/RealEstate/comments/mg3wpz/leaseback_with_zero_rent_and_zero_security/

Not sure where I should post this or what to tag it as. If this isn’t correct please help me find the right place. I live in a townhouse and these do not have basements. My living room is carpeted. I noticed over the years a spot where my floor feels like the concrete under my carpet has cracked and either lifted on one side or suck on the other. No more than an inch I think and you can only tell by feeling with your foot. It’s not visible. Doors are fine. Windows are fine. No wall cracks and floors are level on both down and upper floor. Is this worth bringing to my landlord or is this kind of a normal thing? I’ll mention this because I know it could be relevant. I live about an hour north of Pittsburgh PA. So as far as climate and rain and all that… not sure sinkholes are common at all up here… but it has my anxiety worried my place is going to collapse lol. submitted by /u/CalmConsideration980 [link] [comments] source https://www.reddit.com/r/RealEstate/comments/mg3su

So I signed up for a rent to own. They are providing cheap rent and $800 deposit on the home I chose. They say as long as I’m fixing my credit while living there the rent will remain low which idk seems a little Bit too good to be true. Anybody else do this? Has it worked? submitted by /u/Tasty-Cupcake7434 [link] [comments] source https://www.reddit.com/r/RealEstate/comments/mg3ln9/rent_to_own/

In 2009 I used a va loan to buy a house with the intention of selling it when I got out of the military 4 years after buying it. I decided to do this because the real estate agent I worked with guaranteed there would be no issues selling my house when it came time. When it came time to sell it was put on the market and the market was so bad I couldn't sell it. I ended up having to do a deed in lieu in 2013. Fast forward to this year and I was working with my lender and got pre approved for a va loan recently. I went under contract for a new construction home. I was going to take advantage of it being a va loan and not put anything down. Throughout the process and before I ever signed anything with the builder I spoke to my lender and asked if everything was good and I was told there were no issues and we just needed to wait until closing. So I moved forward with the builder and signed the paperwork. Now today my lender is telling me that after further investigation it turns out

Asking for my Mom/Aunts. They recently listed my deceased grandmothers house and it went fast as expected, what wasn’t expected was the winning bid to come in with a due diligence of 100k (house listed around 340 all offers around 350-60). The buyer asked for a quick close of last week, then pushed to today, now asking for it to be moved two more weeks. Nobody is overly concerned, just want to make sure there’s nothing we should be looking out for as it seems odd they would put that much out without secured financing? submitted by /u/whitetrint [link] [comments] source https://www.reddit.com/r/RealEstate/comments/mg2o11/large_due_diligence_now_buyer_having_financing/

Hey home buyers, I wanted to provide some feedback in hopes that it might help anyone who’s having trouble winning a bid on a home purchase. In the months leading up to listing our house, I read dozens of comments on here that, “No one will accept an FHA offer in this market!” Malarkey. I’ll share our situation and what we looked for in the winning bid. We have a 25 yr old (but completely updated) townhouse in a very hot sellers market. Not nearly enough homes for sale and too many buyers looking. Good school district, elem school and public library within walking distance, nice community, lots of parks, soccer fields, playgrounds, community pools, kids riding bikes, people walking dogs, very active community near restaurants and stores, etc. It’s a very sought after area. We listed our house Friday night, had 21 showings over the weekend, got 9 offers in 48 hours, and went under contract today. My husband and I either need to buy our next home contingent on selling this one, or w

Okay, so I've been searching for home for some time now. I found a new construction community last month and visited the model home. I didn't have a realtor or agent that I was working with back then. I didn't realize that I was making a mistake by going directly myself. I liked the home so got all the details and then reserved a lot. Later I got pre-approved through the builders recommended credit union for a construction loan. Initially the sales agent indicated that they'll be room for some negotiation since I was without a agent. Now they say the price is firm since the demand is high and lots are selling fast - which is fine. BUT they want to raise the prices as well due to demand. I made the reservation prior to price increase so requested them to honor the original price. After some discussion they agreed to meet half way in between. I'm little pissed off because they said originally once I do the reservation prices are essentially locked in Now my concern