I recently bought a house and in the sale, i had a post-occupancy addendum. The seller stayed for 46 days after closing (for $3000) and was a really big hassle afterwords. Never actually gave us keys at closing since she pre-signed, and demanded money from me for a propane refill way before she even moved out, among many, many other issues in those 45 days that have since been delt with. Today, she finally notified me that she had left, for good, and left the keys at the property, finally. After work, i went to the house to see how it was left, and there is alot, and i mean ALOT of stuff left, an entire household worth of items like, her bed, a chair, dishes (still in the dishwasher) coffee still in the coffee pot, salads in the fridge, litter box with cat dookie still in it and sooo much other stuff. I took pictures to document everything left im every location of the house, 86 pictures to be specific, but im not sure what to do with everything. She stated she took everything she wan

Does the housing authority offer a higher rent amount to the owner if electric (heating,cooking,water heating,other electric)is included in the unit compared to if it isn't? submitted by /u/deborah2001 [link] [comments] source https://www.reddit.com/r/RealEstate/comments/n2bjs7/does_the_housing_authority_offer_a_higher_rent/

So I went from being super depressed all month to finally getting an offer accepted on our dream home. I am worried about timelines and ensuring all the necessary steps followed through. My realtor, lender, AND seller all got COVID in the same week so everyone is super hard to get ahold of. Either they took time off work or are working at like 20% capacity from home and doing what they can. Just a very odd feeling. I’m super anxious, but at the same time I want them to focus on their health as that’s what’s important in life. Is there a way I could request to extend the closing date or something to give everyone more time? submitted by /u/Historical_Night_770 [link] [comments] source https://www.reddit.com/r/RealEstate/comments/n2az4d/this_is_a_mess/

Been reading a lot and seeing people say they got their offer accepted cause it was the “cleanest.” What does a “clean offer” mean? submitted by /u/RemarkableWinter [link] [comments] source https://www.reddit.com/r/RealEstate/comments/n2aqtc/whats_a_clean_offer/

Hey guys I'm looking to become a new home owner! I was not even looking for a home it just fell on me. So a close family friend is selling me his house for 100k(i know super cheap). Should i get a realtor or should I just finance with my bank? submitted by /u/JeepXJ98 [link] [comments] source https://www.reddit.com/r/RealEstate/comments/n2b3ff/what_would_be_my_best_option/

So this is from my mom, and she's dismayed because escrow is taking too long. She settled on a buyer by beginning of March. The real estate agent (who represents us AND the buyer) highly advised us to move out before April because my late dad's bankruptcy (which we kept paying after his passing) will surely be dismissed by the court soon as requested, and told us the buyer was 'a little annoyed' that we were still in our house. We got the dismissal letter around the target date (2nd week of April), but Escrow is taking long because semantics about needing the court to 'CLOSE' the case when they initially asked and used the term 'DISMISSAL'. We got a small place to rent in this crazy overpriced market by the 24th of March, took the L on paying both the mortgage+HOA+Homeowner's insurance and the rent for April. Coming up to May now, and there's been no email or call from escrow despite my mom trying to communicate with them. The real estate age

Howdy r/RealEstate - I’ve been in the market as a first-time buyer for 2+ months in a medium cost-of-living US city. Like many on this sub, I’ve been having a difficult time. In my case, the primary challenge — more so than getting offers accepted — has been finding homes that I even want to offer on in the first place. I’m a big fan of modern/contemporary homes, which are available in my city but are generally 4k+ sqft and out of my price range. I’m a single guy and really don’t need more than 2k sqft, so the challenge has been to find a smaller modern/contemporary SFH that’s within my budget. And that has proved to be really tough. Today I finally found the unicorn listing that actually fits my criteria. It’s an 1800 sqft custom-built contemporary home that is absolutely beautiful , is on a great lot, and is comfortably within my price range. My agent and I both expect it to be an insane bidding war, so I’m planning to be very aggressive with the offer. The main question is exa

For the record I’m a FTHB so I could just be sounding like an idiot here... There is a townhome for sale I’m interested in that is being sold by Opendoor. However, I have two issues with this property: The previous owners owe about $7,500 in unpaid HOA dues and I haven’t been able to confirm with the HOA what the actual payment amount is and details surrounding repayment. Neither myself nor my realtor can get ahold of the HOA to confirm the pet policies and I have a 50lb dog. Every other HOA property I’ve offered on I’ve been able to confirm this ahead of time. Do you think it’s worth touring this place and potentially submitting a low ball offer (I refuse to pay the overdue fees unless I get it for under list price)? My realtor says they have been able to negotiate a lower price with a previous Opendoor listing, but I’m curious to see if anyone else has experience with Opendoor as a buyer? I’m only asking at this point because this is the 2ND time this house has gone back

It’s a friendly little pitty but the previous owners went MIA immediately after closing and I can’t get in touch. I was thinking of getting a dog but seems unethical to take there dog, it was a much older couple so maybe they didn’t know? Anyone does this mean I get to keep him? submitted by /u/skibumdtc [link] [comments] source https://www.reddit.com/r/RealEstate/comments/n29gvo/we_just_closed_on_our_house_this_morning_but_the/

So our home purchase fell through today. We were buying a FSBO for $300,000, a 1960s 2 bedroom 1 bath with a 1 bedroom apartment attached. Two owners ever, looks well kept, nice yard, ugly/fixable kitchen. Being able to rent out the apartment was extremely attractive to us, as it’s the only way we can really afford a livable house in this market. The last house we bought was $95,000 in 2017, in a different city, and that was A Different Time. For example, there is this multifamily gem down the street from us, not as high quality perhaps, and also it’s missing an exterior wall. Because it burned off. And they’re just selling it like that. For $250,000. So $300,000 for a sweet house in a lovely quiet neighborhood, with rental income, sounded like a wonderful deal. The seller chose to do a FSBO, but we really value our realtor and wanted to make sure we had someone knowledgeable covering our backsides. And I’m so glad we hired her. The seller disliked dealing with realtors and tended

With the additional hoops required for a homestyle or 203k loan for that matter, do I have any shot at getting a house in this quick market? Area is Dallas TX looking to get something small and renovate to my liking. Would I be better to go conventional on a better home where I can do the renovation scope of work? submitted by /u/craigslist_kid [link] [comments] source https://www.reddit.com/r/RealEstate/comments/n29fi6/homestyle_in_this_market/

Due to a work opportunity, I will be moving to a different state to work and am looking at buying a second home. I currently have a mortgage on my current home with a LTV of ~38%, but I was curious what would be the smarter move - buy this second home and make it my primary and convert my old home into a secondary, or keep my old home as the primary. Reason I plan on keeping my primary home is that I have family that lives there. I'll have the ability to work remotely/spend time in either property more, so I'm not concerned about the "residency" component. I'm overall a bit inexperienced with how interest rates work when you convert from primary to secondary, or if they change at all. Curious how everyone would handle the situation. submitted by /u/chub_woofer [link] [comments] source https://www.reddit.com/r/RealEstate/comments/n28sbd/buying_second_home_make_this_my_primary_or_keep/

I don’t understand that stuff at all, but I know it’s one of the many reasons the market got so wild. I would they think would’ve gone back up by now? But like I said, I have no idea about this stuff. I would think banks and lenders are making so much money and people are so desperate they would take advantage and raise interest rates? Edit*** sorry. I mean risen lol. submitted by /u/candyapplesugar [link] [comments] source https://www.reddit.com/r/RealEstate/comments/n28krx/why_havent_interest_rates_dropped/

The P&S is still being reviewed by my attorney but I received an email from my lender that I need to start uploading my financials on Monday. This is definitely the lender I will be using since they gave me a good rate. Any concerns with moving forward with the loan app before signing P&S? Thank you. submitted by /u/bluewhalien52 [link] [comments] source https://www.reddit.com/r/RealEstate/comments/n28c7n/should_i_sign_loan_disclosures_before_signing_ps/

I went to visit the house and noticed that my home is being built with thermo ply on the sides and back of the house. OSB is being used in the front. On all other houses that i drove by, there was OSB in the front and back with thermo ply on the sides. I signed the contract agreement several months ago and got it for a much lower price than what they are going for now. Im not sure which other houses may have signed before me but from what i could tell, mine was the only house like this...I think there may have been 1 other one that also a set up like mine (and i think was also an early signer). At first I thought maybe it was an elevation issue (some houses are stucco) but all the houses i drove by seemed to have OSB in the back. I know lumber is at a high right now but it doesn't seem right that they are building my house with less quality. I even drove by their other subdivision they are building and the homes there are the same (OSB in front and back). This is a bit high

Building a new house and it will not be ready for 10 months. I hope I will be ok on selling in 10 months. Thoughts? submitted by /u/facingrockbottom [link] [comments] source https://www.reddit.com/r/RealEstate/comments/n2869d/will_we_sell_next_year/

I have a purchase offer accepted and appraisal scheduled for a week from now. The story behind the home is, the seller bought from a relative in close to tear down status for 450k in Feb in an off market transaction, fixed the heck out of it, and I’m potentially purchasing for 720k (comps in area support the price). That said, my leader told me because it’s considered a flip and the profit of the flip is so extensive, the appraisal will likely be much much lower. Is this often the case? submitted by /u/sushicary1 [link] [comments] source https://www.reddit.com/r/RealEstate/comments/n27gzx/will_flip_profit_affect_appraisal/

Often times in this group I see people on the sidelines waiting for some kind of housing crash saying the market is in a bubble. Sometimes they even compare this market to 2008 just because the similarity that the housing market is in utter chaos. The housing collapse of 2008 was because of a major systematic issue. Everyone and their dog (literally) Could get a mortgage even if they couldn't afford it. During 2020 and 2021 some aspects are the same. The market is insane right now and housing prices have been going higher, often times significantly.. My theory on the reason for this major increase in home prices is that it is a result of inflation. Some people may say it's because of a housing shortage with many more buyers then sellers. It is true that there is a lack of inventory and tons of buyers on the market. It is my proposition that this is because of inflation. When you increase the amount of dollars in circulation by over 30% and distribute it throughout the Co

Going to sign up this week, wanted to know what someone else’s experience with this site was? How was it? Was it helpful? submitted by /u/Unclesam75228 [link] [comments] source https://www.reddit.com/r/RealEstate/comments/n283fr/is_real_estate_express_reliable_and_good_source/

Im in Chicago. The property I want is in the beginning stages of foreclosure. I want to buy the back due taxes in a tax sale but I just want to know, who gets the house first? The bank doing the foreclosure? Or the city? The house is vacant and I want to knock it down for the land. If I buy the taxes, I bypass the bank from foreclosing? I’m so confused. Thanks submitted by /u/Angie19792018 [link] [comments] source https://www.reddit.com/r/RealEstate/comments/n27fe9/who_gets_the_house/

I was wondering if this is a way to value a residential lot if there are no comps (no other lots around) -- so look at the housing prices (new house if available) and take 15-20% of that as price of the lot? Reason being, from what I read the lot is usually about 20% the cost of a new build house. So if new houses are going for $400k then the lot might be worth around $80k. or something.... yeah? So maybe list it a bit below that if you want to get more eyeballs on it. submitted by /u/SeriousPuppet [link] [comments] source https://www.reddit.com/r/RealEstate/comments/n27ezw/a_way_to_value_residential_lot/

Hey everyone, I’m sure this gets asked a billion times but I need to be the billion plus one because I have no one else to ask. I live in the twin cities area (MN) and it seems like a really hot market out here. I recently walked through a house that, within my means, was beautiful. It is a ranch/rambler style home 1800 sq ft 4 bed, 2 bath built in the 50s with an updated kitchen, 2 updated full bathrooms, fully finished basement, dining room and large fenced backyard. This house is move in ready with no needed changes. I’m trying to shrug off the hype of this house and come back to reality, the house is listed at 325k which my realtor said is to start a bidding war. They said to be above the rest ask 350k. Is 25k asking price reasonable? I tried looking at comps but in my general area there really aren’t houses as updated and nice as it. The ones that are a little close go for 300-315k but they have a lot of work needed such as siding unfinished basement, roof etc. Is 25k above

We put in an offer of $450k for a house listed at $525k that's been listed for over 30 days. Listing agent told my agent that she knows the seller won't go below $515k and so won't bother presenting it. My agent asked for an official rejection with no counter but she won't. Is this within the bounds of normal behavior? submitted by /u/ihavethebestmarriage [link] [comments] source https://www.reddit.com/r/RealEstate/comments/n26rbu/listing_agent_wont_present_my_offer_to_seller/

Basically the title. We got an appraisal back that was lower than expected. When we reviewed the comps they used, we noticed that not a single comp was less than 90 days old, despite there being a nearly identical property that sold a month ago (among other, still comparable but less identical properties). We appealed and asked that they include that property, but they refused on the grounds that the property had new floors and paint (the interior of ours is in like-new condition...this seems like a BS excuse, especially as all the other comps they used had much different interior conditions from our home). It seems like the only reason they would not use this comp is because it sold for a much higher price, but that's the case for anything selling in April vs January in this city. Am I missing something? submitted by /u/ace_at_none [link] [comments] source https://www.reddit.com/r/RealEstate/comments/n1m4m0/can_appraisers_just_choose_to_not_use_certain/

After getting into a contract on a house, we decided to do some mortgage shopping. We had an underwritten pre-approval from Chase before starting the house hunt. After some loan shopping, we decided on BoA because they provided the best rates. We felt Chase won't be able to match it since the difference was significant. ​ 5 days later, we hear an appraisal is already done but is on hold. We then realize the appraiser was from Chase (Apparently it was ordered by our lender even before signing anything). BoA is saying their appraiser request will take atleast 3 weeks. Our house has a 30 day closing terms (we are on Day-7). Now our realtor is saying we are in a tough spot and says we should ask for Chase to rate match with BoA. Now the rates are higher than 5 days ago and we have asked for Chase to match. My question is if Chase is not able to match the rate, can we afford to say no and go with BoA and risk Delayed appraisal which means delayed closing and/or, Lower appraisal si

The title says most of it - I live in PA and I am moving into an apartment in an apartment complex in about a month. They are charging a $60 use and occupancy fee. I thought these were for when a buyer wants to move into a house before closing on it (among other house buyer/seller things). Why am I paying this for a rental and what does it mean? submitted by /u/Skuttlebutt42 [link] [comments] source https://www.reddit.com/r/RealEstate/comments/n1m2wm/use_and_occupancy_agreement_on_a_rental/

Context: Metro Vancouver Area Apologies if we've posted to the wrong subreddit but hoping we can get guidance on a very stressful situation we are currently in. We're supposed to take possession of our new home tomorrow but today we were informed by our realtors that our sellers are refusing to hand over the keys for possession tomorrow. We've already closed on the property and it is / will be legally ours. We sold our current home and the new buyers are supposed to be given possession of our place two days after we were supposed to move in. We will still be showing up with our realtor at possession time tomorrow very well prepared with the possibility they won't handover the keys at which point we will be going directly to lawyers. Has anyone dealt with something similar or know how lawyers proceed in these situations? This is extremely stressful as we now have to arrange storage and seeking accommodation in a hotel. I really hope no one has to ever deal with a str

Condo in Chicago, IL that I am considering buying but wondering if it was just a den conversion vs an actual bedroom. It’s a 2bd/2ba and 1,000sf where as most other 2bd/2ba in the building and area are closer to 1,200 The 2nd bedroom has a door, a closet and the dimensions are 10’x9’ There are 2 full baths, 1 of which is directly across the hall from the 2nd bed Is this a true 2 bed condo, or is this a 1 bed + den conversion - if so, how does it affect the value when it comes time to resell? submitted by /u/DawgLab [link] [comments] source https://www.reddit.com/r/RealEstate/comments/n1kblg/does_a_bedroom_need_a_window_chicago_il/

I recently opened an addiction treatment center a few months ago and it has been doing really well. The "center" is at a residential home where we treat the patients and provide 24/7 monitored care. We are finally breaking even and I accept to do exceptionally well when I start receiving insurance checks for treatment in the next few months. I am currently renting the facility we are in which brings a lot of uncertainty. Will the owners sell, raise the rent, etc.? I really need to purchase a residence to focus on the longer term goals of the business but given we are a startup, we do not have the traditional 25% needed for a down payment. We are looking at several properties ranging from $2M-$3.5M ( the market is insane right now where I am). I will also we are on the higher end of treatment centers so I am getting a 4-7 bedroom place on land for that price. Are there any non-traditional forms of financing I can look at to acheive this goal where I just have a monthly mort

Well, I have finally reached a time in my life when I am looking at buying real estate. I never thought I'd be here, so this is an amazing moment! What I would LOVE to hear from you is what book(s) you read that left you feeling REALLY educated and informed about real estate? Podcasts are also welcome. I am a new landowner, looking to use my first real estate purchase(s) as investments toward accumulating stable wealth, and having a dream house one day. Thank you very much! submitted by /u/ilovebromeliads [link] [comments] source https://www.reddit.com/r/RealEstate/comments/n1jx6y/whats_the_best_real_estate_book_you_ever_read_the/

Hi there! I am studying to become a Las Vegas real estate agent, and had plans to start my own online-tech brokerage in the future, similar to Redfin/Zillow. 𝙎𝙏𝘼𝙍𝙏𝙄𝙉𝙂 𝘼 𝘽𝙍𝙊𝙆𝙀𝙍𝘼𝙂𝙀: I'm looking a multiple brokerages, but Redfin's model catches my eye the most. Being a registered employee of Redfin as a Lead Agent, was there a non-compete clause within your employment agreement, and if so, what were the time/distance limitations for starting your own brokerage? Starting a competing online brokerage after working for Redfin and learning their internal processes may be something they'd want to protect against, no? 𝘾𝙃𝘼𝙉𝙂𝙄𝙉𝙂 𝘽𝙍𝙊𝙆𝙀𝙍𝘼𝙂𝙀𝙎 𝘼𝙎 𝘼𝙉 𝘼𝙂𝙀𝙉𝙏: Also, as I'm understanding it, even though you are a registered employee with Redfin, you are free to replace brokerages as an agent whenever you'd like, correct? submitted by /u/AltruisticOffice5 [link] [comments] source https://www.reddit.com/r/RealEstate/comments/

Offer got accepted on a rural 20 acre piece of property. Seller had no survey and bank was willing to go off what was recorded in deed but I wanted a fresh survey. I knew the property had been previously listed and went under contract but fell through and property was relisted with a new realtor so he didn't give a reason why it fell through. Because the price was lowered I'm thinking it was appraisal. I did notice there was fresh survey tape on the corners of the property. So I asked and they said they never received the survey since previous buyer paid for it. Started calling around for estimates and timelines were pretty far out. Got a call back and one company told me they had just surveyed this property a couple months ago. Sounds like I found the company that did it for the last buyer. I asked em how much I would need to pay to get it and they told me all I gotta do is get the current owner to call and give them permission to release it to me and I can have it no charge.

My wife and I have been trying to buy into a very competitive and what feels to be inflated market. We got an offer accepted last week, inspection Monday, inspection objections yesterday, inspection resolution today. One of our asks wasn't met: to test the attic insulation (vermiculite) for asbestos. Some had fallen into a bedroom closet due to a poorly sealed surround of a vent pipe; yeah, this is an older house. They've agreed to remediate that, and seal the surround, but my concerns are: 1) remediation costs for the attic, and 2) where else might this stuff be leeching, is it air-bound? Total attic sq. footage is probably 1300 sq ft. Anyone have experience with this insulation? Wife and I love the house, want to be in the area, are just concerned on the costs of remediation and making the home safe if it does test positive for asbestos. Edit: forgot to add that there is a need to upgrade insulation in the attic in general, as well as access for some of the other inspec

So I bought a new construction house about 2 months ago. The builder has from what I can tell graded the lot, they dug an area out for the basement, and seemed to flatten the land where the house will sit. It seemed like they were actively working on it up until 2 weeks ago. I live right by the development so I check once a week to see what's going on. My builder notified me this morning that they were working on grading this week. This didn't make much sense to me as everything looked graded to me and they were previously digging the area for the basement. Also there literally has been no change in the past two weeks. I questioned the builder and she stated that she'll check with the guy in charge of the construction as she's just the sales rep. What I did notice is that they have been working diligently on clearing and grading the neighboring lots from mine. I think they just stopped working on mine to take care of the other lots near mine. I just wanted to check if

This is an update to my previous post. We are closing tomorrow with the same buyers, different lender. It seems that the issue was the buyers used the Mortgage Forbearance and had to make 3 payments to be caught up. They made 2 payments then sold the condo. Because they didnt follow the protocols exactly there was an issue. We did sign the amendatory clause. We weren't happy with it, but it was the quickest way to close, plus we didnt have to show the house empty and risk getting a lower offer. The buyers also signed an amendment granting us $3k credit for closing. Very stressful sale. If this was a different market I'm not sure we would have trusted the buyers, but they are 'homeless' and there is so little inventory on the market in our price range that we assumed they didnt want out. submitted by /u/diskfreak3 [link] [comments] source https://www.reddit.com/r/RealEstate/comments/n1isdm/update_on_buyers_loan_being_pulled/

We have two offers both at $615k, one with 20% down but no backstop on the appraisal, one with 15% down and a 15k backstop on the appraisal. We are slightly worried the house will underappraise (we bought it 2 years ago at 499 and it appraised there, and these offers are 26k over asking. Any thoughts/advice? submitted by /u/Sarvox [link] [comments] source https://www.reddit.com/r/RealEstate/comments/n1ira2/picking_an_offer/

Anyone else think it's a mistake and will make buying a home even more difficult? Instead of investors and corporations buying multifamily real estate they'll just compete with first time home buyers and small investors by buying up more single family homes to take advantage of the 1031 tax deferral. submitted by /u/iisirka [link] [comments] source https://www.reddit.com/r/RealEstate/comments/n1iiej/more_unaffordable_housing_bidens_1031_exchange/

Hello, we're trying to sell our condo and have been on the market since the middle of Monday without any showings. I know that the house market at the moment is extremely hot and competitive, but I was expecting at least some interest. Our pictures were not the best, so we brought in a pro and had some better photos done (much better), they went up a few hours ago. I'm hoping that will get more interest. I don't think we're much off in price (in this market) and it seems to be the only thing available in this price range in this area of town and have listened to our realtor every step of the way. I'm really stressing over getting this thing sold since everyone has told me that it should sell very quickly and its been almost 4 with not even a peep. submitted by /u/riatin [link] [comments] source https://www.reddit.com/r/RealEstate/comments/n1iexp/is_the_condo_market_slowlexington_ky/

The long story short, I bought my first home in 2019. It's a cute little 1940 590ish sqft home. My mortgage was for less than 100k. I really began to regret it in the summer of 2020. Being a single homeowner is an insane amount of work. Pair that with the fact that my property was not well mantained by any of the previous owners, and I'm just done. I get no enjoyment out of this house. So I want to sell. My parents said I could move in with them, which is a win win - I can be closer to help them (as they're both 70) and I'll have way more room for my dog. My current gameplan is to begin moving the stuff I'm keeping over there in the next week. Once my stuff is there, I'll fix a fence panel, have the yard professionally cleaned, and have the house professionally cleaned. I know I'll need to reach out to a realtor, but I'm not sure how to / what to look for. Any advice would be greatly apprecaited. submitted by /u/thoinfrostaxe [link] [comment

So I'm a first time homebuyer and I just happened to choose the most interesting time to shop! I've been renting an apartment with a roommate for about 2 years now and I'm definitely wanting my own place. My roommate will still be living with me paying rent as we'll draw up our own contract. I've been looking around since late 2020. My lease is up in July 2021 so I had chosen my main actual shopping to be around April-June. I am already pre-approved and my realtor has been very proactive in giving advice and showing me new listing. So around mid March I found the perfect home for me. Right size, price, and location. I immediately put in a very good bid but I got out bid by one person. But they said they still wanted me as a back up. So now fast forward to April. Apparently the appraisal came back lower than their offer and they couldn't get the mortgage loan. But they asked for an extension on closing. The sellers were reluctant as they wanted to close fast but

A family member is buying their first house. They have a house that they are willing to "settle" for (I have already tried to talk them out of doing that but to no avail) and they found one where the buyer is willing to go to $110k on a listing of $115k. Problem is, they are not using a realtor, and they are being completely neurotic about the whole process. They have no money for a down payment and had to get money for the closing from another relative. They are making offers and doing all this stuff that is really the wrong move for their situation. Having been through the process myself about 4 times, I was taken aback when they told me that their lender told them that the estimated closing would be $12,000 on a $110,000 home. To me, that was ridiculous. My first home was that exact amount, in an area with higher taxes and our closing costs were about $3500 with an interest rate of 7%. They only have $5000 for closing from our relative, and they are asking me for more

Let's say that for some reason I come across a lot of money and I'm now a millionaire, and I wanted to buy back my childhood home no matter how much it would cost. As in, I'd pay the current owners $300K or more for a house they bought for $120K. How would I go about doing this? Do I need a realtor to do this? Has anyone been in a situation like this before? Typo. OLD home, not own home. submitted by /u/Excellent-Hearing-87 [link] [comments] source https://www.reddit.com/r/RealEstate/comments/n1i67v/hypothetical_situation_buying_back_my_own_home/

Hi all. I’m 24, have no real estate experience but want to learn about real estate and property. It may or may not turn into a career but I definitely want to start getting property to rent/ flip/ invest in etc. I work in construction so I’m somewhat handy and have solid connections. But construction isn’t my passion. I figured I’d give real estate a swing and see if I like it. I haven’t taken a course since high school. What do I need? Basic supplies wise. I already got my books from the class. Do I need a laptop or should I stick with a basic note taking binder? Any ideas and tips for my endeavor into this new chapter of my life would be appreciated. Also some basic tips for how to take a class as an adult. Thanks! submitted by /u/benpfosho12 [link] [comments] source https://www.reddit.com/r/RealEstate/comments/n1i4f6/tips_for_taking_a_real_estate_class_evening/

How long do such things take? When will we have a clearer picture/result of the outcome? A few months? by the end of this year? submitted by /u/balaca40 [link] [comments] source https://www.reddit.com/r/RealEstate/comments/n1hv61/does_anyone_know_when_the_biden_capital_gains_tax/

Hello all, I have a circumstance that I would like advice on. I recently purchased my first multifamily building. I had a brand new TPO roof installed. While viewing the completed work on my property, I look over at the neighboring multifamily building, directly next to mine, and notice extreme bowing in the bricks and 60-70% of the mortar missing from the upper portion of the building. I would like to know is this a potential hazard to my building and if so how should I proceed? (Try to contact the current owner or reach out to the city or ........?) submitted by /u/HelloTheSnow [link] [comments] source https://www.reddit.com/r/RealEstate/comments/n1huru/how_should_i_proceed/

https://mfmbankers.com/ I am selling an apartment in NYC and these people are taking forever to give the buyer a loan. Anyone have any experience with them? They seem really stupid. submitted by /u/Master-Biscotti-5121 [link] [comments] source https://www.reddit.com/r/RealEstate/comments/n1hd8e/meadowbrook_financial_mortgage_thoughts_feelings/

Are you able to sell the home if last years taxes are still owed? Should I notify agent before closing? submitted by /u/NinjaSawce [link] [comments] source https://www.reddit.com/r/RealEstate/comments/n0w4g6/selling_a_home_with_back_taxes/

We haven’t closed on our loan just yet, about to in a few days. I was offered a job that doesn’t start until May 24th, is it a good idea to let lender know of this or does the underwriter have to know this? The job is a higher pay too. I just want to know if I have to let them know, I will still be employed at my current employer until May 24th. submitted by /u/cosmicsmaug [link] [comments] source https://www.reddit.com/r/RealEstate/comments/n0vd8n/question_on_employment_and_loan/

I sold my house last year. My plan was to wait until the market corrected. That's starting to seem unlikely to happen for a long time with the continued extensions of moratoriums, etc. We've been keeping an eye open for anything good and reasonably priced on the market, but generally have refused to take part in anything that looks like it's going to be a multi-offer frustrating mess with people trying to outbid and out-waive each other. We have no interest in playing that game. A house went on the market Monday evening, we saw it Tuesday morning, and put in a full price offer at noon that expired in 24 hours. Terms are full price, conventional loan, inspection contingency, no appraisal waiver, 30 days free occupancy. The sellers accepted it with no changes. Apparently they had multiple showings lined up and an open house scheduled for the weekend. They cancelled it all and just accepted our offer. The things that I know helped are that our realtor is easy to work with

We're buying an investment property that is $7M. If I look at comps, it should be priced at $5.5M. But there aren't really any "accurate" comps...so I'm told. For as long I've been an investor, I have always had to pay based on pro forma. If I got a penny for every person who showed his true books/tax returns, I'd have.......let me see.....a penny? If that? I understand it's cutthroat out there, been doing this long enough to know that I've done the same when selling. I guess it works both ways. Sorry just ranting. submitted by /u/Resident-Coach-786 [link] [comments] source https://www.reddit.com/r/RealEstate/comments/n0vu20/its_hard_to_value_something_above_5m/

I own a home in the San Francisco Bay Area that I'm planning to sell this year. I'm debating between using a real estate agent I know or Redfin. The real estate agent is very good at what she does, and is an expert in our neighborhood. I spoke to the Redfin agent, she seems very good, and is the top performer in our city. We expect our house to sell between $1.7M and $1.9M. Real Estate Agent: 2.5% to her, 2.5% to buyer agent Redfin: 1% to Redfin (if we buy using them as well, which we probably will, 2.5% to buyer agent. In a normal housing market, I think there's a better case to be made for using the real estate agent, but in a market as hot as this one, I know we will get a lot of people viewing the property and probably multiple offers. Is it likely that a good real estate agent will bring $25K in value over the Redfin agent? submitted by /u/jellyjack [link] [comments] source https://www.reddit.com/r/RealEstate/comments/n0v0yz/real_estate_agent_or_redfin

So what’s the deal with Zillow owned homes? Are they train wrecks with lipstick on them that Zillow is looking to offload quickly? About to go under contract on one and just not sure about the business of it. This is in California’s market. Do they come down on price if the inspection comes back that it needs major items? Thanks for the insight! submitted by /u/DoItForDoleWhips [link] [comments] source https://www.reddit.com/r/RealEstate/comments/n0uyuw/zillow_owned_homes/

As the title says. Got a copy of all the documents I will be signing. So so so so so much reading. Anything I should be aware of or consider before signing? Is it all pretty much just standard stuff? Are there items I can say no to (and should say no to)? ​ I've read about 1/4 of it and it all just seems pretty standard stuff. submitted by /u/throwaway_clt7 [link] [comments] source https://www.reddit.com/r/RealEstate/comments/n0uy7l/closing_tomorrow_anything_to_look_out_for/

I know that lending rules have definitely become stricter since Covid. However, do you guys think that we’ll still see a larger than usual numbers of loan defaults in the coming years? People are paying well over asking price and there’s got to be a lot of people stretching their budgets thinner than usual because of FOMO and market hype. submitted by /u/Flying-Bulldog [link] [comments] source https://www.reddit.com/r/RealEstate/comments/n0sa24/will_we_see_a_large_number_of_loan_defaults/

So I'm closing next week on a new construction property, it is built by a local small custom builder (pointing this out as they don't really have a reputation to protect). During attorney review, we gave them a list of things to be repaired and they agreed to it. We are doing the final walk through on Saturday so my question is, what happens if there are things that still needs to be repaired at the time of the walk-through? Is there a way to add a written commitment this late in the process to get something repaired after closing? What is the normal procedure when this happens? Any input is greatly appreciated! My main concern is that there were multiple windows that didn't close properly and I doubt they went through warranty to get new ones. I don't want to delay closing or cancel the deal due to this but windows are not cheap either... submitted by /u/noodlerage1314 [link] [comments] source https://www.reddit.com/r/RealEstate/comments/n0s12p/new_const

We bought a new build that will be completed end of August. This was a SPEC home with about 30k in upgrades and we added another 6k. We got an email today from the sales manager stating that due to the upgrades we need to be aware that the house may not appraise and we will have to make up the difference. We are first time home buyers and obviously my wife and I were freaking out. We spoke to our realtor, our lender, and the sales manager to try and gain some clarity since we didn’t actually add all of the upgrades (except for the last 6k). We live in a non disclosure state so it’s hard to see what other homes have sold for around us. When my wife and I were house hunting however, this home/floor plan/upgrades were nicer than 95% of the other homes we looked at in our price range. Plus we have a view of the mountains and no one can build behind us or on our left because of a park within the community. Is this just the home builder covering their ass or is this something I should be le

How come just now I thought of using reddit to ask all the questions I've been suffering about lately? (facepalm) It's my first time posting... Here's the story. We're trying to buy an apartment in New York City. We have lost some bidding wars already, so anxiety is a real problem. It turns out that our broker (buyers) is also listing a property that suits our needs. In the first open house, we go to see it. Later in that day, we submit an offer at the asking price. The broker says she already got 7 offers -- so they will be asking for best and final offers due in two days. At the end of those two days, the broker calls me and strongly recommends that I bid $75k above asking. I do so, begrudgingly, and in the next day she says my offer was accepted. By the way, I hate the process -- for all I know the broker is making up numbers and offers to get me to bid higher. Anyway, going to the point: Today, I received more detailed information about the building, like finan

I am set to close on a property in about 3 weeks. During the various processes of getting the mortgage the loan cost per month has dropped quite a bit (property tax went from estimate to actual + insurance is less than expected). I'm currently putting 12% down and I'm wondering if I am able to drop my down payment amount to keep some cash for home improvements since i could still afford the monthly payment even with a slightly lower down (likely $10-15k). I wanted to ask before I call and ask the mortgage company in case this isn't something that is considered a good idea. submitted by /u/Flagastro [link] [comments] source https://www.reddit.com/r/RealEstate/comments/n0uspz/first_time_home_buyer_question_changing_down/

The numbers don't seem to add up for the USA actually having a shortage of housing. Population has increased by 25,795,570. The number of housing units has increased by 11,236,100. Household size is 2.6. 25,795,570 / 2.6 = 9,921,373 11,236,100 - 9,921,373 = 1,314,727 more housing units comparatively than in 2009, a time when there was supposedly a glut of supply. Have there really been millions of houses torn down in the last 10 years? Sources: Housing units built https://www.census.gov/construction/nrc/xls/co_cust.xls Household size: https://www.arcgis.com/home/item.html?id=b597302950234000b7ba4fa33cd785eb#:~:text=The%20average%20household%20size%20for,household%20population%20by%20total%20households . submitted by /u/ToasterWaffles [link] [comments] source https://www.reddit.com/r/RealEstate/comments/n0ura3/usa_population_grow_since_2009_26_million_housing/

I am curious, how much did you put down for downpayment? I have heard 20% was recommended but I wanted to learn more. submitted by /u/Prestigious_Draft_24 [link] [comments] source https://www.reddit.com/r/RealEstate/comments/n0uqbd/typical_downpayment/

So, We put our townhome for sale and accepted full price offer in 2-3 days with inspection and mortgage contingencies. Inspection went well, the buyers asked for $1k at closing which we happily agreed to cover some minor things. Mortgage contingency expired on 4/27. Our (seller) agent got a text from buyer's agent that they requested for extension, it's just the bank is busy and waiting on few things to give a 'clear to close'. Our attorney mentioned nothing to us. We emailed him asking for more details like what is the actual reason, how many days is the request for extension. No response. We understand that they are probably overwhelmed, but we are clients too. So, we waited 24 hrs and emailed again - no response. We reached out to our realtor, he emailed them too looping us - no response. I didn't call then yet, it's usually 'he will call back in few' all the time. What's the course of action? Wait for attorney to respond at his mercy or can w

Don’t have an extra 100k under your mattress for a bidding war? No problem! First time home buyer here, finally had an offer accepted and is going smooth so far. Here are my tips and tricks to increase your chances in today’s market. If you are new to home buying like me, then go down that Reddit wormhole. I can’t thank this community enough. I have learned so much about various real estate related things in such a short amount of time. I went from not knowing how to even apply for a loan to suggesting contingency strategies with my realtor lmao. Try and make sure everyone knows you are looking for a home! This includes friends, relatives, and coworkers. All it takes is that one friend of a coworker’s third cousin’s next door neighbor who’s selling to give you an edge. I promise you, your chances are much higher awaiting that one person who just so happens to know someone who will be selling soon or in a few months than trying to win a offer with today’s market. This sort of

Looking for some advice on how I can back out of a signed P&S for a home, without losing earnest money deposit. My husband and I had signed the P&S around two weeks ago to purchase a condo. Main reason for the purchase is the proximity to work for the both of us. But that's actually changed a few days ago since he got a new job offer that's much better but in a totally different town. More than an hour away from where we're buying... This was totally unexpected. We were already kind of lukewarm about the home. Location was the single biggest factor why we made the decision to buy this place, and now that's gone. Honestly we were just so tired of looking. Physically and emotionally draining. We have already deposited a good portion of the down payment, about $60K. There is only mortgage contingency left. We had already provided all the documents that’s been requested. The loan is in the approval process. Is there anything we can do at this point to trigger

Got lucky on first offer in this crazy market but inspection showed some big ticket items that were just downright atrocious and needed replacement (electricity, plumbing, AC, just to name a few). Can we just back out and say not interested? Is this legal? Tips? submitted by /u/jakson669 [link] [comments] source https://www.reddit.com/r/RealEstate/comments/n0tgbb/bad_inspection_can_we_back_out/

Like, I have never been the type of consider calling the bylaw on someone, but honestly we got a suspicious call from the city planning department 2 days after he poked his head into my basement Reno (that is not major enough to really require permits) Even though this guy is a creepy jerk , we have been trying to live and let live, for our peace around our house but he is sort of pushing us. The way our house situated it would be right in our face, he could probably lie and say he will move t or the renter lives in the house, as he mentioned... lol.. they won't like his sewer hook ups he put in the yard though, they will hate those. Would you get a lawyer when dealing with a pathological lair trying to break the rules? how to stay safe and sane ? submitted by /u/homestead1111 [link] [comments] source https://www.reddit.com/r/RealEstate/comments/n0ts8v/guy_next_door_thinks_he_should_be_able_to_build_a/

I'm currently in the process of deciding whether to sell my home (approximately 500k) with a net of 470k after commission, sales tax, law fees, etc OR rent the property for roughly 2k per month. It is a townhouse that is not renovated, built in the 1980s, and is due for some repairs (nothing necessarily major). I have not been a landlord so this would be a first. It is my parents' property and we will move in somewhere else. The question I had, would this be a good ROI. Rent - 24k/annually Taxes - 6k/annually Home Insurance - 1.2k/annually = 16.8k/annually. This number is very raw considering there are no home maintenance repairs factored in plus we don't know how long it will take to get a renter. Furthermore, most properties in this area were rented out for about $2400-2500/month but with the pandemic prices have gone down as everyone is moving away from the city. 16.8k/500k = roughly 3.36% ROI. Is this worth it? Do I hold onto this property because of its location

I know we are all navigating this insane market. On several offers, I’ve had sellers’ agents not only turn down the offer, but absolutely not respond to it outright. Is this something that others are experiencing in this current market? It seems as though in any other market, agents would be courteous enough to actually respond. submitted by /u/Conscious-Side-2771 [link] [comments] source https://www.reddit.com/r/RealEstate/comments/n0qz69/sellers_agents_not_even_responding/

submitted by /u/MrSnowden [link] [comments] source https://www.reddit.com/r/RealEstate/comments/n0st5j/crazy_listed_our_house_house_3_hours_ago_20/

I saw a property sell with 49 offers last month in the Bay Area, that's the biggest number I've seen. It ended up going for ~400k over asking (1.05M vs 1.4M) What's the record? submitted by /u/TiDoBos [link] [comments] source https://www.reddit.com/r/RealEstate/comments/n0slf1/multiple_offers_what_is_the_highest_number_of/

I'm very new to real estate, and found an absolutely stunning house that is very clearly in a rough shape. No yard care, most of the windows beat in and covered with wood, paint chipping. All that I'm wondering how I would go about trying to buy it, I know there's a big chance it might not be for sale but I'd be kicking myself down the line if I didn't at least look into it. submitted by /u/tstilly [link] [comments] source https://www.reddit.com/r/RealEstate/comments/n06u6j/im_looking_to_buy_a_run_down_abandoned_house_but/

This is likely a very stupid question but here it is anyway: What happens when you’re buying from your landlord regarding last month’s rent and deposit? My husband and I are starting this process with our landlord and I haven’t found anything regarding this question. submitted by /u/kiwimag5 [link] [comments] source https://www.reddit.com/r/RealEstate/comments/n06lpr/buying_from_landlord_what_about_last_months_rent/

We were the ‘first’ sale of the 2021 hot selling season in our neighborhood back in February and sold over asking, including credit on a minor stucco issue we had no idea about (completely reasonable, given the appraisal contingency and this neighborhood historically being dead for sales in Q4 for the past decade we’ve been here. Everything went as expected - no regrets). Our neighbors listed at our contact price a week later; more recent kitchen, powder room and a screened in porch. They sold 35k over list in March. Now, their adjacent neighbor has listed their comparable (to ours) house at 45k over our original list, went under contract immediately and fell out within a week. It’s been two weeks since they relisted and neither their status nor price has changed on the MLS. My nosy hypothesis is that because they fell out of escrow once, they’re not changing public status of the property until DD is fully sealed and/or cleared for closing. Old neighbors of ours think it’s because t