Hello, Let's say you buy a rental single family, how much would it cost to get a permit for ADU and see if you can rent it out. ? This would make it unofficially a 2nd unit with grants from certain towns submitted by /u/tryingtobefree9020 [link] [comments] source https://www.reddit.com/r/RealEstate/comments/oazh14/idea_buying_a_single_to_add_adu_in_nj_to_make_it/

crossposted in /r/legaladvice I live in Minnesota, he lives in Pennsylvania, and we were married in Florida. We are not legally separated because Florida doesn't recognize legal separation. I'm looking to buy a house in the next few months. Will being married complicate that? Does the house I buy become marital property and he owns half of it? I'm speaking to an actual lawyer this week, just want to know what kind of response I should expect. Thank you in advance. submitted by /u/charliebeanz [link] [comments] source https://www.reddit.com/r/RealEstate/comments/oaz7fk/does_anyone_know_if_a_house_bought_during_a/

They liked my offer but said I need to wait a bit because they are in talks with divorce lawyers in regards to the settlement of property. How long would this process usually take? submitted by /u/relentless_bull_ [link] [comments] source https://www.reddit.com/r/RealEstate/comments/oaypds/sellers_accepted_my_offer_but_are_in_process_of/

There are two floor plans common in my area (Seattle): A) 3 bedrooms on the main floor, 2 baths on the main floor B) 2 bedrooms, 1 bath on the main floor and 1 bedroom 1 bath in the basement Which one do you prefer and/or would have better resale value and why? submitted by /u/arkkansas [link] [comments] source https://www.reddit.com/r/RealEstate/comments/oayhda/bedrooms_on_main_floor_vs_bedroom_in_basement/

Hello All, The other week we entered contract to buy an apartment. After sending deposit (>$50k), we entered into the HOA review period, which was 5 days. On/about the 2nd day, we requested additional information since the building's replacement fund had declined by nearly half over the past year, they had been underfunding the replacement fund and the included report slated the building's future replacement items were several millions of dollars over the next decade. After requesting an extension of time and additional information, including an updated report outlining future expected expenditures, they rejected the timeline extension. They did; however, supply more historical documents which only showed more negative operating income each year. On the morning of the 5th day, we stated we were backing out because we were uncomfortable with the HOA financials, in line with the HOA provision outlined in our contract, deeming it was the buyer's assessment to determine in

TLDR: can't stop considering this house that has the perfect lot and location but has an obvious big foundation issue even after previous repair, has gone pending twice and back on market. Very attractive price. What is the worst that we could be in for if we go for it? OK... we are located in central Texas. You can't talk to anyone about foundation issues here without hearing "it's not if, but when" and that basically everyone should expect at least a small foundation issue at some point. The thinking there is that it shouldn't be an absolute deal killer. We are selling and then buying and, as everyone else, doing it in a small window of time. We have found a house in our desired location with basically the perfect lot. The price was a little on the high end initially, and when we went to see it it was very clear immediately upon walking in that there is a foundation issue due to sloping floors. In fact, a group went in after us with an agent and we saw the

I don’t know if I’m using the correct terminology, but I’m referring to the builders that build whole new neighborhoods of made to order homes. You can usually pick from a handful of designs and customize them to your taste. I’m wondering if any of those companies will work with someone who just wants a shell built (foundation, frame, roof, siding, roofing, doors/windows, ac, electric) and can finish the inside on their own, or if that’s not something they usually allow. submitted by /u/977888 [link] [comments] source https://www.reddit.com/r/RealEstate/comments/oay2hn/can_you_have_a_volume_home_builder_make_you_a/

Been interested in a certain house for some time. The listing very prominently calls attention to square footage that is wildly inaccurate. The claimed square footage is at least twice the actuals and very obviously incorrect even to an amateur, but matches and was clearly drawn from inaccurate tax records (which likely just lumped some out building sf into the number). While I could easily see a lazy or willfully ignorant agent just drawing from the tax records, the house has now been on the market for several years and has had the listing renewed multiple times. I have, in writing called attention to the inaccuracy to the listing agent. I have seen listings that are savvy enough to use language like "listed at XXsf" or "buyer to verify xxx", but this list does none of that, listing the SF in the very first sentence of the description. I am not sure why I even care, as perhaps the reason it hasn't sold is that every potential buyer has immediately realized t

Appraisal came back short and we challenged the appraisal pointing out a comp that was more comparable in all aspects than any of the comps used in the report (basically the same house) and sold above our current contract price. Appraiser states that it cannot be used due to being a relocation/corporation sale. The house of concern underwent the normal process and went on the open market, had multiple offers, and was under contract only a few days later for far over asking. (Property history and records never show a relocation company owning the place, but I reckon they are tied up in it somehow) So onto my questions. Why would a relocation comp not be valid to use? Do the circumstances of the sale not give it grounds to be an arm's length transaction? submitted by /u/BoisterousBlowfish [link] [comments] source https://www.reddit.com/r/RealEstate/comments/oawmwp/relocation_sale_as_valid_comp/

Last time I looked for a house Realtor’s app was my best one. Now Zillow’s appears better. An agent we’re working with steered us to Century 21’s. No surprise there as that’s who he is with but leads me to ask the Q abt them all in general. submitted by /u/Fractoso_Jauregi [link] [comments] source https://www.reddit.com/r/RealEstate/comments/oaxc4o/does_one_real_estate_app_outperform_all_the/

House prices in Phoenix have rises 100k in a year. What are people even supposed to do anymore? This is bullshit. https://www.fox10phoenix.com/news/the-struggle-is-real-estate-high-prices-lead-to-tough-phoenix-metro-housing-market-for-buyers?utm_campaign=trueanthem&utm_medium=trueanthem&utm_source=facebook&fbclid=IwAR2fPoosgZlmWLQp4fL_JOmQmbOZj1ZRmKUjW-To5vdJokqCFAHqgxp6ROw submitted by /u/ContentBug2 [link] [comments] source https://www.reddit.com/r/RealEstate/comments/oax7r2/what_are_people_even_supposed_to_do/

What is the best LVP for your buck in your experience Lowes or Home Depot Brand? Costco? Lumber Liquidators? Got a guy for $1 install per sq foot and ideally looking to be at $2-2.5 per sq foot for flooring, but my installer recommended I go with Home Depots brand for $3 or so. Gonna go with that unless anyone has better ideas? submitted by /u/soyerom [link] [comments] source https://www.reddit.com/r/RealEstate/comments/oawqj7/best_budget_lvp_flooring/

Looking at financing a commercial real estate property. The bank’s flood advisor said it needs flood insurance. Insurance companies immediately quote $16K and $22K. They say, “if you get an elevation certificate, the price can come down” so I get one. Premium ranges from $2500 to $4000 based on NFIP. They are all supposed to quote the same price since it is underwritten by the govt so obviously something is effed up. Fishy so far. I’m reading the elevation cert EC and it says the 6 buildings I want to buy (self storage) are in zone AE. I look at the fema Map online and one part of the property touches AE zone. But the elevation cert says none of the buildings are below base flood elevation. BFE So I call up the surveyor and ask why the building is listed in zone AE. He says if any part of the property is in zone AE, the whole property is listed as such. I’m skeptical. I ask him where is that documented? Oh it’s in the fema handbook for EC’s. Uh huh ok. I go to the FEMA website and

See link: https://www.cnbc.com/2021/06/30/as-housing-boom-begins-to-fizzle-weekly-mortgage-demand-falls-.html submitted by /u/CaponeFojo26 [link] [comments] source https://www.reddit.com/r/RealEstate/comments/oaw8yw/mortgage_demand_continues_to_decline/

This could be a really stupid or unaswerable question but how much are closing fees? Like a general estimate. Got an offer accepted on our third try and only had to offer 1k over for a total of 231k. That being said things are extremely tight. We did 5k earnest with 15k down. We were going to do 20k down but my husband doesn't start working until August and we wanted a cushion. We are running low on funds probably around 6-8k to last us until he starts work not including our current rent costs. Are we screwed? My realtor hasn't mentioned an estimate for closing costs or even talked about them besides a few times in passing. submitted by /u/catbuggie [link] [comments] source https://www.reddit.com/r/RealEstate/comments/oav9pl/closing_fees/

I am in the middle of selling my house in Florida and we just came across that the property appraisers office has my home listed as a 3 bedroom. The Sq. Ft. Is correct but my house was definitely built as a 4 bedroom. I have no idea how they messed that up. There has been no additions as I live in a country club so it wouldn't fly anyways but now I'm freaking out that this could cause problems with my closing. I have heard mixed reviews on if I should or need to get this fixed. submitted by /u/jagsgators01 [link] [comments] source https://www.reddit.com/r/RealEstate/comments/oaud8x/appraisers_office_has_wrong_info_listed_florida/

First time home buyer here. We ordered an appraiser from the lender 6/13 and we haven’t even been charged yet. The schedule the lender says is 6/29/21 at noon. Which was yesterday. The appraiser hasn’t even scheduled a showtime or even showed up or even been in contact with listing agent. Well a day later, I am trying to figure out if this is normal since i am supposed to close the 7th of July. My lender said that there is nothing he can do but wait on appraiser but I have one more week til I close. submitted by /u/rmjbodybuilding [link] [comments] source https://www.reddit.com/r/RealEstate/comments/oau9iy/if_lender_orders_appraiser_to_be_there_at_a/

We've been gearing up to sell our primary residence, with plans to then find and purchase a replacement property. The one thing we've been planning for is how to avoid "moving twice", especially since we have a young toddler in tow right now. To that end, we were going down the path of selling with a contingency on 'finding' a replacement, and then carefully engineering the closing of both the sale and purchase. The other option we're also looking into is the possibility of a bridge loan, but those conversations have only just started with our intended lender, so we don't know the scale of our options there yet. In reading some posts on here tonight, I was reminded that mainly out of curiousity 3 weeks ago, I had submitted requests for offers to both both Zillow and OpenDoor. The initial numbers I saw at that time were impressive, but I heavily discounted them as I figured they would eventually be much lower after getting through their various walkth

I agreed to a 40-day rentback after closing (nature of the market and this was a home I really liked after seeing many other homes). They are due to move out before the month ends, but I am told they have secured other housing by the 15th and may be out before the official end of rentback. Should I have my realtor ask them when they plan to move out by, or should I just wait until the end of the rentback period to reach out? Planning to do walkthrough day after rentback ends. There is a security deposit on hold for damage or late move out. Any tips are appreciated. Thank you. submitted by /u/CrumpetsGalore70 [link] [comments] source https://www.reddit.com/r/RealEstate/comments/oasmrg/question_about_rentback_ca/

Bit of an odd question, should I (the buyer) share the inspection report with the appraiser? The house is being sold 'as is' and needs some work, per the as-is the seller's said they will not negotiate on anything in the inspection report. However, they proposed a clause that they would negotiate if the house doesn't appraise - is sharing the report (and thus the issues of the home) a way to help prompt this negotiation? To my knowledge the appraiser didn't even walk through the house. This is a conventional loan w/20% down. I understand the financial implications if it comes low and I need to make up the difference between offer and loan (assuming they don't in fact renegotiate). Anything else I am missing or risking? submitted by /u/generalmonte [link] [comments] source https://www.reddit.com/r/RealEstate/comments/oas81a/share_inspection_report_with_appraiser_pros_and/

If I’m buying a mew construction home from a home builder do I still need a buyers agent? submitted by /u/soundneedle [link] [comments] source https://www.reddit.com/r/RealEstate/comments/oarzog/need_an_agent_if_buying_new_construction/

Hi Reddit folks, I have landed a job in Los Angeles, and my wife and I are moving there by Sept. We are thinking of buying a house for ~ $1,300,000 in LA. We make 210k per annum, have excellent credit scores, can afford a down payment of ~$100k, and don't have children. We've been researching for several weeks and have not found a good lender (based on the reviews) yet. Are there any *good* mortgage lenders for first-time homebuyers? We are very cautious about approaching lenders because we do not want them to ruin our credit scores. ​ Thank you very much in advance for any advice! submitted by /u/ComfortableDot5931 [link] [comments] source https://www.reddit.com/r/RealEstate/comments/oart45/good_mortgage_lenders_for_firsttime_homebuyers_in/

Brigade Citadel is new residence project in hyderabad. It's about the joy of discovering a niche that resonates with you. Everything from the thoughtful cluster of luxuries, roaming outside beneath a 100-year-old banyan tree, the smart design, and the dynamic similarly invested network around you will be an insistent carnival of life, spread out over 11 pieces of land. For more info: BRIGADE CITADEL submitted by /u/brigadecitadel [link] [comments] source https://www.reddit.com/r/RealEstate/comments/oarnr6/apartments_available_for_sale_in_hyderabad/

So my dad started real estate 6 months ago and he has now got 2 homes he is renting out 1 of them gives a 0.08 cash on cash return rate is this good for a beginner? submitted by /u/HopetobeinPCMR [link] [comments] source https://www.reddit.com/r/RealEstate/comments/oac4xm/is_a_008_cash_on_cash_return_good/

Lawyers/ Real estate agents of reddit I need advice. I currently own a home with my now ex boyfriend, he owns 65% I own 35% (him/his dad convinced me at signing that my BF should own more because his dad helped with he down payment to "protect his money"). In the years I lived there I payed half the mortgage and helped pay for renovations to the home. Now that we are no longer together he wants to keep the house and i will be bought out but he does not want to get an actual appraisal and just write me a check for what he thinks is "fair". what are my options to get him to cooperate, I know I cant force a sale since i own less and right now he's dragging his feet on the situation submitted by /u/Able-Lecture-115 [link] [comments] source https://www.reddit.com/r/RealEstate/comments/oabtnw/need_help_getting_bought_out_of_a_3565_home/

I'm pretty confused: I get a purchase and sale agreement and the seller signs it and then it's valid right? Why do I a need an attorney or a title company? What do they do? submitted by /u/theuglykid9 [link] [comments] source https://www.reddit.com/r/RealEstate/comments/oabiza/what_do_attorneystitle_companies_do_for/

I’m selling my house in a pretty new neighborhood, all houses are about 2-4 years old and in great condition. Everything that has sold within the past 2 months and even going back to January and February has sold for at least 40k above the original new construction purchase price. As such, there are plenty of comps readily available from just these past 2 months to get a correct and fair price for the house. The buyers agent is instead pulling some of the original comps from original owners buying straight from the builder towards the completion of the total neighborhood project, and then added in a recent one that his client bought for an absolute ridiculous discount because the family needed to leave the state for work and were desperate. My agent is laying down the hammer on this guy but what self respecting agent would pull 2+ year old comps when you have all the recent sales numbers to justify an actual offer. submitted by /u/chubbsfordubs [link] [comments] source h

First time homebuyer here looking in the North Seattle area currently looking at a flipped property that has some history I don't quite understand. Sale history says it was sold in March 2021, presumably to an investor looking to flip. However, when looking into city permitting on the property it turns out the current sellers names have also been on all the permits issued since it was last sold in 2007. The disclosure form says they have never lived in the home so I assume it was a rental property and that they have owned it since 2007 but is there a reason why there would be a separate sale instance in March? submitted by /u/Loodacriz [link] [comments] source https://www.reddit.com/r/RealEstate/comments/oaayod/wa_fhb_looking_for_advice/

I was trying to buy a condo. I submitted a best and final offer and they said no. They needed $10K more. I was able to secure a gift and agreed to all of their terms and returned signed copy by the deadline. The seller then held my offer and accepted another offer. Is there anything I can do, or is this just a shitty situation? Obviously extremely pissed as I wouldn’t do business this way, but it just seems ridiculous as they said it was a done deal if I met them at their terms. I did, but then they got something else before they returned their executed copy. TLDR; verbal agreement without executed contract submitted by /u/DawgLab [link] [comments] source https://www.reddit.com/r/RealEstate/comments/oaayhh/buying_a_condo_seller_accepted_another_offer/

I’m feeling so hopeless in today’s market like many of us I’m sure. I’d love to hear some success stories to give me some hope. I’ve only been crushed once so far but now it’s been days since any new homes have been put up for sale in my town. Would love to hear some positive experiences and any input is appreciated! submitted by /u/PrettyExit3519 [link] [comments] source https://www.reddit.com/r/RealEstate/comments/oaay7y/someone_reassure_me/

I am writing to take the temperature of those in the R.E. world outside of the normal guise of prices, supply/demand, etc. What are your thoughts on recent trends from tech based R.E. Companies? Examples: Modern Discount Brokerages - Full service realty at a fraction of the cost. Company will list your home for a flat fee of $3,000, and help you purchase a home giving you 1/2 their commissions back. iBuyers - Companies that will buy your home, sometimes at more than market price, with no showings, certain to close, etc. submitted by /u/TheePrinceAkeem [link] [comments] source https://www.reddit.com/r/RealEstate/comments/oaa0x3/temperature_readings_modern_real_estate/

The Federal Open Market Committee (FOMC) announced in a statement last Wendsday. they kept interest rates close to zero percent, but Federal officials expect two increases by 2023. https://mrex.co/en/interest-rates-held-near-zero-but-fed-expects-two-increases-by-2023/ submitted by /u/MaximRealEstate [link] [comments] source https://www.reddit.com/r/RealEstate/comments/oa9vk0/interest_rates_held_near_zero_but_fed_expects_two/

Quick question that I hope to have some knowledge on before asking my selling agent. We are listing our home with an agent very soon, maybe today, and I’m curious. If we find an unrepresented buyer, does the selling agent typically get the full commission? Are commissions ever written into the seller/agent contract separately, I.e., that the selling agent will get their 2.5 percentage upon sale, but if there’s no buyers agent the remaining 2.5% will not be paid out by the homeowner? I’m asking because I might have a buyer in the wings and don’t mind paying the sellers agent commission, but if I find the buyer I don’t want to pay a full 5% to my agent for a house that never really hit the market. Thanks for any info submitted by /u/insidedreams [link] [comments] source https://www.reddit.com/r/RealEstate/comments/oa9d7r/question_on_re_agent_commissions/

The Consumer Financial Protection Bureau announced a new rule today to prevent a wave of foreclosures due to coronavirus. Here is a summary from the New York Times: “In most cases, lenders will only be allowed to foreclose on a home if it is abandoned, if the borrower has not responded to messages for at least 90 days, or if the borrower has been formally evaluated for all available “loss mitigation” options (such as a loan modification) and none are viable. Servicers will also be allowed to proceed with foreclosures for borrowers who were already 120 or more days delinquent before March 1, 2020. The new rule also allows mortgage servicers to more easily offer some loan modifications so long as the changes do not increase a borrower’s monthly payments or extend the loan’s term more than 40 years beyond the modification date.” I think the big foreclosure wave people are talking about after the eviction/foreclosure moratoriums end is not going to happen. https://www.consumerfinanc

I'm in the process of selling my condo (Boston), which is under contract. My selling agent is asking a lot of requests around certain documents, and I don't know what they are or how to obtain them. I asked him to communicate with my attorney directly whereas I have a full time job and don't have time to play monkey in the middle. He was very put off and gave me attitude. What's the normal protocol here? submitted by /u/pocahontas_bitch [link] [comments] source https://www.reddit.com/r/RealEstate/comments/oa7zs3/is_it_normal_for_my_selling_agent_to_communicate/

We closed May 4th. His house closed 6/25. Y’all… the house was listed at 129k and sold for 141k. There are foundation issues (lots of big, deep cracks, doors wouldn’t close properly) The roof and windows (thin, like trailer windows, some didn’t even open) need completely replaced (leaks in garage, hole from tree from ice storm, broken beams in the attic). Hot water heater was definitely going out before we left. Electricity will probably need updated or redone (multiple outlets do not work, lights would flicker throughout the day) and the plumbing (had water under tiles in bathroom, running when toilets not being used) is not good. Basically, this house is gonna need to be taken down to the studs. Our landlord had 88 properties so, quite a few of his houses lacked being kept up. Part of me thinks a flipper came in but, if not , I -really- hope no one waived their inspections and such. They’re in for a big surprise if they did. Anyways, happy Tuesday! submitted by /u/badhairg

When listing your home, how do you handle offers you’re not excited about but would consider? Basically if you have a few offers but maybe one has a VA loan or some other thing going on where it may be difficult to close? submitted by /u/FrankyKnuckles [link] [comments] source https://www.reddit.com/r/RealEstate/comments/oa7bul/how_long_do_you_have_before_you_must_choose_an/

Party A has an I/E easement over party B's property, can party A legally sell that easement to party C? submitted by /u/MarkJ- [link] [comments] source https://www.reddit.com/r/RealEstate/comments/oa7n1b/can_you_resell_and_easement/

Like everyone else, I struggled to find a home; several offers lost and moral was crushed. I finally found the perfect house; it was in a great location, just outdated. I was pretty surprised my offer was accepted because I used the VA loan and only went 15k over asking. I guess the lack of turnkey turned some people away (needed new flooring, carpet was gross, and some other things). We did the final walk through yesterday and the seller was by far the worst kind of human. He left trash everywhere, meat blood and grease stains all over the kitchen and fridge, and allowed his cat to shit and piss all over the carpet for at least a week. It was honestly hard to even hold my breath from the intense cat smell during the walk through. The carpet was honestly horrific, it wasnt great during my initial viewing of the house, but was 100x worse. I was absolutely furious and had a mini freak out and told my agent I was out. I'd gladly lose the 3k deposit out of principle. My agent and t

I've been hunting for a house since March and have been outbid on every offer I've made so far. Anything that's remotely nice in my area is being bought cash and I just can't compete. My husband and I found a home in the most idyllic location (3 acres, secluded, surrounded by woods and across the street from a horse stable) but the home is a fixer upper with a weird layout. The entrance opens up to the living room (no foyer) and all of the bedrooms are directly off the living room. You're basically greeted by a wall of doors all of which a various bedrooms. There's not even room for a TV in the living room because all of the wallspace is occupied by doors, windows, or the fireplace. Moreover, there's only 1 full bath above ground. While I wouldn't mind the wonky layout (it's just me and my husband and we're not having kids) I'm sure the layout would put off prospective buyers should we ever need to move. We have $260,000 to rennovate but

This is a 30-year, 2.75% fixed rate refinance with Better Mortgage. When I requested an updated loan estimate to not finance any costs (paid from loan amount), the points increased substantially. Is this legitimate due to Better’s lost interest payments or some other reason? Here are the scenarios: 1: Loan Amount = $200,028. Points = $1,222. Closing Costs Financed = $2,549. Note: Better initially estimated this loan amount with $400 financed and the same points. This is the updated estimate after getting a payoff statement from my current mortgage company. 2: Loan Amount = $197,478. Points = $2,328. Closing Costs Financed = $0. Thanks! submitted by /u/bra34b [link] [comments] source https://www.reddit.com/r/RealEstate/comments/oa684d/refinance_loan_amount_points_and_costs_financed/

Our builder (a typical large nationwide one) caused a delay today which is the day before closing. They apparently didn’t have a final inspection for the certificate of occupancy and as such we couldn’t have our bank fund the loan today and close tomorrow. We found all of this out after we wired our closing costs and down payment... We have all moving things organized since they confirmed multiple times about closing on the 29th and were adamant that we were in the clear with no issues. Now we are stuck with an unknown delay and no where to go on the 30th at 5pm (day we need to be out of our recently sold home which is at the end of our lease-back agreement and the new owners are expecting keys that day). Anyone else run into such a late delay by a builder and what if any kind of recourse do we have? submitted by /u/TechPharmMed [link] [comments] source https://www.reddit.com/r/RealEstate/comments/oa2wm7/builder_delay_on_day_of_loan_funding_recourse/

I was looking at Zillow's "sold home" feature and I saw 70 acres of land sold for 100 million dollars? Who is buying that? Is it a person, or a company? Any information on this topic? submitted by /u/perpetualdriven [link] [comments] source https://www.reddit.com/r/RealEstate/comments/oa2w6u/who_buys_100_million_dollar_properties/

Location: Southern California So I'm currently in escrow for what I thought would be a pretty straight forward transaction. We opened on June 10th and scheduled to close July 15. They countered my initial offer and we both signed for about 20k over asking, which is common for this area and market. In the counteroffer, it was stipulated that all contingencies had to be lifted by 21 days, aka July 1. Everything was going smoothly until about a week ago, seller suddenly requests a lease back. I had already made plans to occupy at closing and had other roommates that were ready to move in as well so I declined the request. This is when the fun started. A few days later, they issued me a Notice to Perform (Fri, June 25) to lift my appraisal contingency by Monday, June 28th. This was strange because the appraisal was scheduled for June 28th. This is when I realized something was up. After some digging by my real estate agent, she found out from the selling agent that they were trying

Hi, I am looking to put in a offer for a house that has a creek flowing through the property - the dwelling itself is setback quite a bit away from it and completely out of the flood zone and Wetlands buffer around the creek. But because of the brook on the land, it means that property comes under Zone A flood zone, hence likely requiring flood insurance by lender. So I am trying to budget for the flood insurance before putting in offer. How much limit mortgage lender typically require? Upto the limit of the mortgage Or Amount to rebuild the house or another amount? One of the Flood insurance agent I spoke with said that Flood isurnace with 250k limit should be enough. 250k will be substantially lower than either mortgage amount or the amount required to rebuild. Any help will be greatly appreciated. submitted by /u/whosthr [link] [comments] source https://www.reddit.com/r/RealEstate/comments/oa2f9t/flood_insurance_limits/

I went on a tour and there was one other guy, very little interest. Bidding opens today and am wondering if I should put down a bid now or wait a few days. Logic being if I wait a few days I won't seem as desperate. If they know I'm desperate, they'll wait for me to put in a really high bid. submitted by /u/dantheman66666 [link] [comments] source https://www.reddit.com/r/RealEstate/comments/oa2dc9/should_you_bid_right_the_day_after_a_tour_or_wait/

I’m in the process of moving out of the home I am selling. Closing is in about a week and a half. I removed part of my baseboard along a wall to allow a media console to sit flush against the wall. The house was photographed and shown like this. The inspector did not seem to notice it, nor have the buyers. When I move the media stand out of the room, the 70” of missing baseboard will be apparent. I no longer have the piece of baseboard, so to fix it I’d have to hopefully find the exact match and have it cut to size (gave away my saw in preparation for the move). I’ve got enough on my plate, I really don’t want to deal with this. Since it was sold that way I don’t think I should have to fix it. But I’m hearing that I do have to fix it? Thoughts? submitted by /u/Wild-Heron [link] [comments] source https://www.reddit.com/r/RealEstate/comments/o9t7oa/do_i_need_to_fix_this_missing_baseboard_obscured/

A 3,000 sq. ft building that I want to lease is listed at $10.00/SF/YR on Loopnet, meaning I would have to pay $30,000 per year which is a bit above my budget. If I were to offer $8.00/SF/YR, would this be considered insultingly low? Basically I'm just trying to figire out how much commercial/industrial rents "marked up" when they are advertised online, and how much are they ACTUALLY are leased for once the deal is closed. Is there an industry-wide practice where the rent is listed higher than what it actually goes for? submitted by /u/2020random2019 [link] [comments] source https://www.reddit.com/r/RealEstate/comments/o9smxi/how_much_wiggle_room_is_there_when_negotiating/

I’m currently selling a house which has been under contract for 45 days. The closing is in 2 days. I got a call today from my realtor saying the HOA board of directors, disapproved the buyer’s application on grounds of “criminal history”. The buyer apparently had an ugly divorce a ten years ago, it was based around the kids. His X filed for a restraining order. We don’t know if there were ever any charges or arrests made, but he has since moved on, remarried, and started a new life. To my knowledge there is nothing in the community’s covenants and bylaws that would disqualify a person for this and no amendment has ever been passed to change that. I also don’t think there are state or federal laws that disqualify a person, solely based on this. It’s possible the board is discriminating without legal ground, but for the sake of keeping this short, I am out 7K for the time it was taken off the market. The buyer put 10K initial deposit in escrow contingent upon him securing financing

I know that I will have to pay taxes for capital gains on the sale, but I truly don’t want to be there anymore. I bought the house to live close to my brother but he passed away unexpectedly. I gave it a few months so I didn’t act impulsively, but I still feel the same way. I considered renting it for a year (Airbnb is not an option), but what if by then the market is not favoring the seller like now. According to real estate comps, I should (hopefully) be able to recover my investment even after taxes. Thoughts/advice? What would you do? submitted by /u/BricksSister [link] [comments] source https://www.reddit.com/r/RealEstate/comments/o9rabb/bought_1_year_ago_should_i_sell/

My company is looking to rent a 10,000 sq. ft. industrial warehouse to manufacture and store t-shirts. How much monthly rent should we expect to pay? The location is upstate New York. Utilities, hydro, water and propery taxes are not included. Also, is the rent negotiable for renting industrial real estate? How much negotiating room is there for industrial rents? Thanks submitted by /u/2020random2019 [link] [comments] source https://www.reddit.com/r/RealEstate/comments/o9s23g/how_much_does_it_cost_to_rent_industrial_real/

The cost to build a home, at least material wise, is roughly the same nationwide. Housing prices, however, are not. So if a home averages $1M in CA, why aren't builders flocking there? Assuming $150 per sq/ft, a 2000 sq/ft home would cost about $300,000 to build. If the same home could easily be sold for $1M, and maybe $100k for the land, that's quite a profit. On the same page, in areas where home prices are the lowest in median price, like WV and MS, ($108 and $128k), what is incentivizing developers to build new homes if most people can buy a home much cheaper than a new one? I'm also curious what is so marketable about new construction? In my area, the cheapest new construction home I could find in a development was $281,000, and only 3BR, 2BA, 2 Car Garage, and a small 1341 square feet GLA. Similar homes built since 1990 are selling for only $200-$220,000, and most of the new homes I see are pretty bare bones, I'm talking linoleum instead of tile, vinyl plank

Hello, Thanks for reading this, I'm looking for some advice to see if I'm crazy or if what I'm looking at is in the bounds of reason. My partner and I live in a MCOL city with HCOL salaries. We save a lot of money, no kids, etc. We're exploring the idea of buying unimproved land in the Upper Peninsula in Michigan (southern exposure) and then building a cabin. We might buy the land now and wait to see if materials prices come down as well. No rush. As I'm doing research on properties, I'm finding some that look good, albeit maybe overpriced. Here's an example of one that we'd consider though I'm not sure this is what we want. What I'm considering is something where I can get electricity, and if we build a more on-grid place we'd dig a well and septic. I'm also wondering if it makes sense to just buy the land and hang on to it until we decide to move up there and just build a larger house instead of a cabin. Downside being that we wo

Hey all! So I have been an admin assistant for my boss who is a coach here at a brokerage in PA. We recently commissioned someone to virtually stage a house she is listing and she gave me the idea of it being something I could do for her instead of someone else. Do you know where I could find some good furniture renders with different 360 aspects? We are willing to pay for the resources, the rest of the staging I am able to do. ​ Thank you! submitted by /u/Yung_Dashe [link] [comments] source https://www.reddit.com/r/RealEstate/comments/o9rq9q/virtual_staging_furniture_resources/

TLDR: sellers agent made a big about the house being professionally cleaned before the sellers left. This included carpet cleaning. The house was filthy when we arrived. Are they obligated to pay for it be done since we were told it would be? There was absolutely no way the house was cleaned period. Both ovens were awful - something had boiled over/exploded all over the inside. The kitchen had dried food stuck to counters and spilled down the front of the cabinet. Big hair balls. Dust everywhere - thick layers of dust on built ins. The carpet very clearly had not been cleaned either. It looked dingy. My dog got sick and I had to use the spot bot. The water it sucked up was black. The sellers were not the most lovely people anyway. Before we knew they were terrible, we agreed to a leaseback. We did keep the deposit of $500 to cover the cleaning costs. But it barely covers having a service clean the home. Since their agent informed us that these services took place, are they obligate

https://www.ft.com/content/ff83ed04-3bb5-444a-9af0-1b466201ef67 Some parts of the article for the lazy: “It’s very important for us to get back to our 2 per cent inflation target but the goal is for that to be sustainable,” Eric Rosengren, the president of the Boston Fed, told the Financial Times. “And for that to be sustainable, we can’t have a boom and bust cycle in something like real estate. “I’m not predicting that we’ll necessarily have a bust. But I do think it’s worth paying close attention to what’s happening in the housing market,” he said. “You don’t want too much exuberance in the housing market,” Rosengren said. “I would just highlight that boom and bust cycles in the real estate market have occurred in the United States multiple times, and around the world, and frequently as a source of financial stability concerns.” ———— Commence discussion on our fav topic! As a reminder, no one knows where the hell market will go, but it’s fun to speculate. submitted by /u

The whole selling process was a mess and both real estate agents were part of the problem. The new owners did an inspection and visited the house multiple times while we occupied the house. Problems were addressed and negotiated before the final sale. Now (a week after the final sale was signed) they are complaining about lingering smells. I can agree that my dogs did pee on the hardwood floors and I did my best to address that while I lived there. The new owners want the smell addressed by me now. I’m not sure what I’m obligated to do since the smell issue was not discussed at any point before the sale nor during the final walk through. We never masked the odors with candles nor did we hide the dogs. What am I obligated to do? Can we be sued or something? submitted by /u/DrivingGoddess [link] [comments] source https://www.reddit.com/r/RealEstate/comments/o9qhkg/help_house_has_sold_but_now_new_owners_are/

My dad's a realtor. He has a house we looked at the the seller doesn't have on the market who may be willing to sell to us. It's 330. So not worth 330 but that's the market today. Needs a lot of work. We desperately need a 4 bedroom but I'm having a hard time justifying that price for an older beat up house, needs a lot of work (like new siding and carpet and bathrooms and the deck is a safety issue, no grass,)that's really not big enough for us, but better than where we are, when a year ago for that price we could have built a house for that price. I just don't know how to justify it, and yet we need it. We can't get into some bidding war and we have to sell out townhouse first so no one's going to take that contingency. submitted by /u/lyssthebitchcalore [link] [comments] source https://www.reddit.com/r/RealEstate/comments/o9qxhc/would_you_buy_a_house_like_this/

Agents, buyers, sellers, what are your thoughts. I want to throw out a few issues that are not always considered. As a Realtor, I love it when a seller provides one, although I absolutely appraise the buyer of the risks, and I do have my concerns, because my Inspectors are great, and not all are. But it makes it easier for me when they are willing to rely on it, and better chance of getting the deal. And I would much prefer it than to waive inspection altogether. However, the risk of an inspection accidentally or willfully missing something big is definitely there. So I worry sometimes that as a Realtor, I need to put aside the fact that I like it and advise buyers not to rely on them. It does make things easier for buyers, despite the risk, and allows buyers to bid a house up with more confidence. As a seller, it is not so simple as it might seem either. As Annie Fitzsimmons, the attorney for the King county association of Realtors points out, the seller could potentially be held li

Source. I'm just wondering how this works, what about an HOA of townhouses ? If the damage is only one side of a structure, does everyone in the HOA have to pay for it? It just seems to be a steep payment if you bought a condo, lets say 2016, for 500k only to find out a few years later you'll be on the hook for another 100k. It's even more problematic if you consider that a lot of older folks live in these communities who may have bought decades ago when prices where cheaper or used their retirement funds and have no means to finance an additional loan. Is this common? The cost of postponing repairs? Both? submitted by /u/jrr24601 [link] [comments] source https://www.reddit.com/r/RealEstate/comments/o9qsc6/how_common_are_hoacondo_special_assessment_fees/

Pulte homes — has a bidding program where they have a Drawing and you enter by submitting an Offer. Your Offer includes some questions - and an additional Lot Premium Bid - on top of the Builder Lot Premium. You also include your anticipated amount you will spend on Options - and your Elevation choice. So I submitted an Offer and won. After winning - when signing the sales agreement - the builder hits me with $2000 in mandatory structural options - because it’s a Corner Lot. They add on a little feature of rock siding to the side of the house because it’s a corner lot. This cost was completely hidden to me - until the sales agent mentioned it when I signed the agreement. I feel this should have been included in their lot premium - since it’s required for the corner lot. I feel this was a misrepresentation and it was a hidden cost. Do I have any recourse? Is this an ethics violation? Should I threaten to file a formal complaint if they do not absorb that cost themselves ? I w

Are you looking for a strata management company in Sydney, NSW? Civium can help. We provide strata management services across Sydney. Our role is to enhance your community so you can live as comfortably and harmoniously as possible. Give us a call today. submitted by /u/lowrieeva34 [link] [comments] source https://www.reddit.com/r/RealEstate/comments/o9hrbl/strata_companies_sydney/

I currently am looking to buy a home that's a fixer, in a very hot market. The property I'm looking at once fixed up, we'd look to see it valued at $620k, as the house down the street same with the same floorplan, which sold for that price back in February. The list price of this house is $499k. I guess I like it enough that I keep driving to look at it. I guess my question is should I offer from the $499k-$525k range? I was thinking if this home just doesn't happen to workout for me, I want to net a good profit too. I don't want to be buying this home for more than what it's worth. I want to net a profit of like $60k or so at least from this transaction. Given this home is going to need $50k worth of repairs. It's only 900 sq ft. Very small home but so many repairs needed. The seller has provided a complete report of the inspection they done for the property as well. When I told my newly found agent, whose also the listing agent for this home, that I wan

I currently am looking to buy a home that's a fixer, in a very hot market. The property I'm looking at once fixed up, we'd look to see it valued at $620k, as the house down the street same floorpan has sold for that price back in February. I guess my question is should I offer from the $499k-$525k range? I was thinking if this home just doesn't happen to workout for me, I want to net a good profit too. I don't want to be buying this home for more than what it's worth. I want to net a profit of like $60k or so at least from this transaction. Given this home is going to need $50k worth of repairs. It's only 900 sq ft. Very small home but so many repairs needed. The seller has provided a complete report of the inspection they done for the property as well. When I told my newly found agent, whose also the listing agent for this home, that I want to offer less she give me this look. Lol. I said ok then I think I'll just do full price asking at $499k, with

submitted by /u/itspazzy [link] [comments] source https://www.reddit.com/r/RealEstate/comments/o9h65r/how_much_do_you_get_taxed_on_the_profit_you_make/

After multiple counters, I (buyer) and seller of a property agreed upon terms on 6/25, with a signed agreement. Essentially i'm now on the clock to sell my current property. Terms of my and seller agreement: - close escrow 35 days - RPA14B to be 12 days - COP2a to be 12 days - COP to be removed in 24 days My property was listed on MLS immediately. Multiple tours so far, no written offers yet. Tonight, 6/27, my buying agent received a Notice to perform, dated 6/26, with the box checked "Closing Escrow on buyers property". Terms: "BUYER: If you do not remove the specified contingency(ies) (C.A.R. Forms CR or RR) and take the specified contractual actions indicated above within 2 (or ) Days After Delivery (but no less than the time specified in the Agreement) of this Notice to Buyer to Perform, Seller may cancel the Agreement." My Buying Agent is interpreting this as i have 2 days from when seller signed to remove contigencies, meaning close escrow, which i

My fiance and I got pre approved for a USDA loan. There's a crazy list of requirements that the property needs to meet. One of the requirements is that the septic tank needs to be 100 feet from the house? Lolwut? That is the most unreasonable thing I ever had. Basically means that our offer just went to shit. I live in PA had anyone else had this by passed by any chance? It's it worth it to go through with an inspection and appraisal or will it most definitely not be ignored? submitted by /u/LeTheTea [link] [comments] source https://www.reddit.com/r/RealEstate/comments/o9e7tk/should_i_still_go_through_with_it/

About 758,000 California households are behind on rent submitted by /u/coofboye [link] [comments] source https://www.reddit.com/r/RealEstate/comments/o9etru/what_does_california_paying_100_back_rent_do_to/

submitted by /u/itspazzy [link] [comments] source https://www.reddit.com/r/RealEstate/comments/o9et98/lets_say_i_am_a_bought_my_home_for_5_down_then/

We posted it on Facebook two days ago and have had nine showings and one offer, but it’s not looking like the buyer will be able to obtain financing. It goes live on zillow tomorrow and I’m hoping to sell it quickly, obviously. I was wondering as to how long people usually wait to follow up and make an offer or see it again after initially seeing it. Any advice or knowledge shared would be greatly appreciated this is my first home sale. Thanks. submitted by /u/jumbawumba07 [link] [comments] source https://www.reddit.com/r/RealEstate/comments/o98rv0/selling_home_by_owner/

We were under contract for a house. The appraisal didn’t finish until closing day. It took over 30 days for them to complete the appraisal. It came in $20k short. We want to buy the house but need my mother in law to wire us money as a gift for the difference which the broker said is fine since they already sourced her accounts. She’s in a different country so the wires take a day or so. Seller now wants to back out and keep the EMD even though we are okay with paying the gap, and we told them, and we want to buy the house, just a few days later. What recourse do we have? submitted by /u/throwRA_southparking [link] [comments] source https://www.reddit.com/r/RealEstate/comments/o96ln4/seller_wants_to_keep_emd_after_underappraised/