https://www.youtube.com/watch?v=pmRTZLMH-LM&t=2s submitted by /u/Jerusalem_Jew [link] [comments] source https://www.reddit.com/r/RealEstate/comments/pfa9ez/eviction_crisis_explained_750000_households/

Florida Home Insurance has been tougher to insure with standard shingle roofs older than 10 years (nearly impossible). How are sellers/buyers not recognizing this as an immediate mandatory remediation and cost? Same goes with polybutylene plumbing. I see a majority of listings (looking at you OpenDoor, Zillow, etc) with out-of-date fundamentals that will double out of pocket costs for buyers AND they must have a very narrow window to remediate before occupancy and insurance. I am in RE here I Central Florida and refuse to bring buyers on a budget to a home that doesn’t have these fundamentals well within 10 years of age. submitted by /u/ComonomoC [link] [comments] source https://www.reddit.com/r/RealEstate/comments/pf8tan/regarding_conditionhow_are_your_transactions/

I have a HELOC on my primary residence and want to make a move to another home that will become my primary residence which I will finance with a conventional loan. Can I do this without affecting my open HELOC? submitted by /u/straberimilk [link] [comments] source https://www.reddit.com/r/RealEstate/comments/pf85ve/heloc_on_primary_residence_and_new_purchase/

I am looking to buy properties (SFR) in PA. I already have one in my own name. To transfer to an LLC will require me to pay transfer taxes again. So before I buy any more, I am trying to figure out if it's better to buy each property in an LLC or will a huge umbrella insurance policy cover me here? I know this topic has been beaten to death. But would love to hear any thoughts, if people have them, specifically tied to Pennsylvania real estate law. submitted by /u/birdmanunited [link] [comments] source https://www.reddit.com/r/RealEstate/comments/pf8vhg/buying_50_properties_in_pa_in_own_name_w_umbrella/

Hello, this is my first time posting to this subreddit and I’m hoping you very smart folks can advise me. (I've also posted this to r/personalfinance , but not receiving many replies there.) My husband and I just had our offer accepted on a house in an extremely competitive HCOL market. Initially, we were planning to pay all-cash and then refinancing, but our accountant told us that we wouldn’t able to deduct mortgage interest payments from our taxes, so we switched to downpayment and traditional mortgage. We were pre-approved for a jumbo mortgage with a large, national mortgage company, however when it came time to officially apply for the mortgage we were informed that because he is considered self-employed/contractor they would only be considering the three months he earned money in 2020 (he started in October 2020.) He works for a startup in the EU and they are in the process of forming a C-Corp the US in order to pay him as a W2 employee. He’s been invoicing them every mon...

So as I've been planning and prepping my home purchase I've been working with a mortgage broker and a loan officer for a mortgage lender (who also acts as a broker) to answer my financial questions. Both are fairly pushy about getting me to get a pre-approval from them, but I've held off over the last 8 months so that I can improve my credit and stack cash, amongst other things. Now it's time to go through pre-approval and I'm wondering if I'm stepping on anyone's toes by using the other for a preapproval. I've already let both know I'll use each of them (and others) to check rates for my actual loan - after an offer has been accepted, but for this preapproval I'm wondering if it matters who I go with, or if anyone is going to view that step as a discontinuation of our relationship. submitted by /u/thisaccountforwork [link] [comments] source https://www.reddit.com/r/RealEstate/comments/pf7t8w/who_am_i_offending_by_not_getting_a_prea...

Does it make any sense to add solar panels to investment properties? I pay for the public lines in my properties which are not costly ($25-$50/mo). submitted by /u/SittingByTheFirePit [link] [comments] source https://www.reddit.com/r/RealEstate/comments/pf7107/adding_solar_panels_to_investment_properties/

We want to buy our first home within the next few months, but we do not have a car. We want to move from a big city out to the suburbs, so a car will be more of a necessity. We will also need a car to travel around looking at houses, moving, etc. From what I read, it's not advised to buy a car right before we are going to apply for mortgage pre-approval, but a car is a requirement for us to be able to move. It will be a used car and we will put enough down to only need a small 5k-7k loan at the most. How much will a small loan like this really hurt us if we try to get mortgage pre-approval soon after? submitted by /u/quartershell [link] [comments] source https://www.reddit.com/r/RealEstate/comments/pf7mze/small_car_loan_before_mortgage/

I'm about to enter escrow on a property and looking at hiring a real estate attorney to review documents, etc. I'm new in this area and when I did a quick google search, I found that Legal Shield and similar online attorney services do provide this for a much lower rate. I'm curious if anyone has used these services and what your thoughts are? I have, but only for things like estate planning. ETA: This is not a complex real estate transaction, it's fairly straight forward. I'm really looking for things like document review. submitted by /u/apostate456 [link] [comments] source https://www.reddit.com/r/RealEstate/comments/pf6mlr/has_anyone_used_an_online_attorney_eg_legal/

Hey there, I have a HELOC currently in the underwriting stage post appraisal and am also hunting for property. I have the down payment ready and was wondering if while the HELOC hasn’t closed yet I can get prequalified and potentially start the mortgage process for a property I want to purchase without affecting the HELOC underwriting. Is this possible or will the mortgage force me to restart the heloc process? submitted by /u/straberimilk [link] [comments] source https://www.reddit.com/r/RealEstate/comments/pf6m9s/getting_a_loan_while_another_is_closing/

I have a family member selling two pieces of property that will both have capital gains taxes. The realtor/broker is telling them to wait and sell them in separate years. Why? They would both be capital gains taxes from what I understand. One property would sell for around $1mil and the other around $600k. Is the realtor just trying to split their commission between two years for their personal tax purposes? TIA. submitted by /u/dyllll [link] [comments] source https://www.reddit.com/r/RealEstate/comments/pf6gyh/is_there_any_downside_to_selling_two_pieces_of/

I’m supposed to close in 2 hours, the office is 1 hour away, my nearest bank branch is only in my town, and I STILL DON’T HAVE CLOSING COST NUMBERS FROM THE LENDER. I am absolutely livid. We have been under contract for 60 god damn days (gave sellers time to find a home) - HOW does it end up going this last f****by minute!!!!!!!?????? Rant over. Talk me off a ledge. I just want to get out of my hotel and into a home. We’ve been on the road for 90 days now (military PCS). submitted by /u/Afitz93 [link] [comments] source https://www.reddit.com/r/RealEstate/comments/pf6d6j/rant_closing_time/

My husband and I are getting our documentation together to get preapproved this week and have our eyes on a particular house. The house needs rehab from looking at the outside, the listing has no pictures of the inside. It seems pretty overpriced and judging from the outside it doesn't seem like any rehab has been done yet. When we're preapproved we are going to have our realtor set up a showing. It was sold in February of this year for $217500 and is listed now for $280k and our county property appraiser site lists the National Community Reinvestment Coalition in Washington DC as the owner. Does anybody have any idea what this means? submitted by /u/peachersen [link] [comments] source https://www.reddit.com/r/RealEstate/comments/pf6crh/owned_by_ncrc/

After nearly a year of looking for our first house and essentially giving up, we found someone who likes us and wants to sell us their rental house (without putting it on the market). It’s one of those we-never-could-have-planned-this kind of situations and we feel incredibly lucky and grateful. The seller is very accommodating and letting us do things that I understand would be impossible in most situations in this market. My wife and I want to be prudent, responsible buyers without taking advantage of the seller’s generosity. So,… Seller has allowed us to get an inspection prior to going under contract with the goal of rolling any major repairs into the asking price and therefore mortgage. We’re going to order a home inspection, but from my cursory understanding an inspector does very minimal examination of things like the roof, HVAC system, foundation, etc. So in a perfect world: What else would I want to know about the house/who should I hire to get additional inspections? And ju...

I currently rent an apartment and the lease will be up in January. My partner and I are not sure if we want to rent or buy for our next place. We love the idea of buying but we feel like we shouldn’t try while the market is like this. We also don’t know how long we will be staying in the area as we have discussed plans to move to another state. Neither of us have experience buying a home, so we certainly would need an agent if we go that route. Could an agent help in the event that we choose to rent? Should we hire one to help us decide which option is best for our budget and needs? And how much does this typically cost? I would call a company and ask these questions but I feel so silly having 0 knowledge about how hiring a realtor works or how to buy a house. submitted by /u/thekrustykrabpizzza [link] [comments] source https://www.reddit.com/r/RealEstate/comments/pf61hc/should_i_hire_an_agent/

My wife and I are in what is a hot market for basically all the houses. Have a bad house? Throw it up and get offers same day. Well, except for when it comes to our house. We did get an offer day 1 by a couple that offered before seeing it. The realtor suggested they come see it first, they did and then rescinded the offer with the excuse of "something came up". We have solar panels, normally this is a big positive except they're basically being included in the house. There is a big metal telephone pole near the back of our house, apparently plenty of people have said it's an issue for them. Nothing I can do there but reduce the price if needed, and maybe thats just needed? Here are the most obvious issues: We have 2 dogs and we haven't moved out, so there is a dog smell in the house. We are partly moved out, most of the house is bare and clean but the garage and main bedroom closet are cluttered. We are moving out of the house completely in 3 days so it w...

Something I’ve noticed, new apartments in the past 5 years tend to be built with incredibly low standards. Very thin walls / windows that aren’t insulated. Modern finishes that seem nice at first but wear and tear extremely fast. I had an apartment built in like 1987 that was by far the most insulated apartment I’ve lived in. Why has the bar dropped so much? submitted by /u/bdhssbshwh [link] [comments] source https://www.reddit.com/r/RealEstate/comments/pezvml/newly_built_apartments_whats_the_deal/

The listing agents or whoever is responsible for overinflating the price of homes should be held accountable for fuckery like this. This house is listed with Redfin for $1,015,000. They previously had no working data to come up with a true Redfin estimate, and just by judging the quality of the home, condition, size, and area, honestly the only reason it would even fetch a price at $799k as estimated over on Zillow is because this market is so fucking lopsided and people love to waste money by overpaying and doing dumb shit like waiving appraisal contingencies and foregoing inspections just because they’re desperate for a home. If you’re in Orange County, CA, and looking for a decent sized home that isn’t stupidly expensive and/or 50+ years old, gtfo if you have the means to. submitted by /u/Elidian [link] [comments] source https://www.reddit.com/r/RealEstate/comments/pf0qi8/lol_this_market_enables_the_worst_of_scumbaggery/

I’m a first time home buyer, still looking for a house to buy. My realtor has taken me to look at several houses, and a couple days ago, I went to a house that was very nice but not in the best area (the house was renovated) Anyways, they listed the house for $218k. This is the first time I ever put an offer on a house, I told my realtor I could do $206k. He went home to do paperwork, and then called me and was asking me how much I wanted to pay for due diligence and earnest money? He told me that makes the sellers know that i’m serious about buying the house. He said if they end up taking my offer and my DD and earnest money, and inspection and everything went well, I would get the money back as a credit when buying the house. BUT if let’s say something in inspection went very wrong and I didn’t want to buy the house anymore, the sellers would keep the DD money and the earnest money. Is this a normal thing? I never seen anyone on here talking about that stuff. This is my first time p...

I wonder if someone needs property investor rental management software nowadays? I have my own property are currently on rental, but I'm not sure why are people reaching me for introducing software even though I only have one investment property. 😂 Anyone can enlighten me what's the benefit of having it? submitted by /u/JamesChoiZH [link] [comments] source https://www.reddit.com/r/RealEstate/comments/pf0iex/does_someone_need_property_investor_rental/

This land is adjacent to a highway. There's a Flyover opposite this land. I think that's a merit. The land is quite flat. There's a small village adjacent to this land. I'm thinking of putting a warehouse there. Is it a good option? What are the steps before I can set up a warehouse if anyone has an idea? I might have been a bit vague in the description. I'll try to answer as best as I can in the replies. Thanks a bunch! submitted by /u/Brilliant_Parfait236 [link] [comments] source https://www.reddit.com/r/RealEstate/comments/pf0esa/i_have_a_land_property_in_a_tier_3_city_i_want_to/

I feel like there are strong arguments for both sides here. submitted by /u/AnnArchist [link] [comments] source https://www.reddit.com/r/RealEstate/comments/pf00rg/are_conforming_limits_for_zip_codes_redlining/

Hi guys, i'm buying a house in mason, ohio and my agent had offered me to come see the house one more time before signing the Title papers on Sept 1st. While looking around the house earlier today i noticed the basement wall has a pretty big water leak stain (i forgot the word for it, but its yellow and about 2 feet long). this is my first time buying a house and i have no idea what to do... im also having big issues with my mortgage company, they're the main reason the closing date keeps being delayed. originally i was supposed to move in to my new house on the 27th, but they moved it because apparently underwriting had not sent the final approval which i understand but my loan officers assistant brought up if i it takes too long then they will have to completely terminate the contract (which isnt my fault, ive given them all of my documents ?XD). my agent is aware of this and she said she will speak with the realtor and see what the seller can do about it. im so upset an...

I'm curious if anyone has had to file any type of complaint against a realtor and what the process and outcomes were in doing that? Is there any way to find out if a realtor has ethics complaints filed against them? I was working with someone who did several things that seemed shady as well as ask several inappropriate questions. submitted by /u/cheese_eats [link] [comments] source https://www.reddit.com/r/RealEstate/comments/peklph/has_anyone_had_to_file_an_ethics_complaint_or/

My lender is overestimating my 2021 taxes due to not taking homestead into account, thus they have indicated I have an escrow shortage. Depending on the approval of the upcoming proposed county budget changes, my 2021 RE taxes (billed in November) will be between $300 to $500 less than what the lender estimated. What I'm confused on is that my current escrow payment already includes the amount needed for 2021 RE taxes, but my shortage payment, which I'm also paying, seems to account for the estimated RE taxes as well. Is the escrow shortage I'm being charged related to future 2022 taxes? If so, does this mean I'll get back more than $300-$500 since they are overestimating both 2021 & 2022 RE taxes? submitted by /u/Jove4 [link] [comments] source https://www.reddit.com/r/RealEstate/comments/pek9tt/escrow_shortage_to_surplus_question/

My wife and I are interested in buying a home but she will likely need to be the only borrower on the mortgage as my credit situation is pretty poor with a score under 500, recent bankruptcy etc… She has a FICO of about 630. I’m just finding out that it is pretty much impossible for her to be the sole borrower and be able to include my income with hers. Her gross pay is about $3,900 monthly. We live in MA so a low budget home is going to run us around 250,000. I have learned about the Homeready mortgage option as pretty much the only option that would allow my income to be considered to lower the DTI which would help some but not sure it would get us a $250,000 mortgage. Together our net monthly is about $9000. I would expect my credit situation to turn around in 7-9 years but we would prefer not to keep renting for that long. Does anyone know any other mortgage options that would consider my income as household income but allow me to be a non-borrower? Does homeready allow closing co...

submitted by /u/ShortWoman [link] [comments] source https://www.reddit.com/r/RealEstate/comments/pej7bm/tired_of_hearing_rumors_about_housing_and_videos/

Hey all. We have final walk tomorrow and was wondering what you all would suggest to be on the lookout for, besides obvious signs of damage to the property or appliances. Thanks in advance submitted by /u/reyob1 [link] [comments] source https://www.reddit.com/r/RealEstate/comments/pejl5o/final_walk_through/

Hello…I have lived in the rental for roughly a year and 7 months. I received a letter from my landlord stating month to month and 6 month terms would be increasing. After calling to set an appointment to sign a renewal, a few days later the property manager emailed me stating the landlord wants me to assume responsibility for the water bill. I might be wrong but it peaked my curiosity if he’d be interested in selling. I’ve gotten prequalified for a mortgage and have also been looking at other properties, but would like to stay where I’m at. In addition to being the landlord he is also the owner of the property management LLC. Would I ask my realtor to run comps and have him inquire with the landlord about selling? Ask the landlord directly? I haven’t had much interaction with the landlord, except a text or call for maintenance and the initial lease signing. Any tips or suggestions? submitted by /u/r0bbit0 [link] [comments] source https://www.reddit.com/r/RealEstate/comment...

Hi all. I recently had an offer accepted on a house and will be closing in about 45 days. I'll also be selling my house in the same time. Does anybody know a good attorney in the Orlando FL area to handle this? I'm actually not sure if they have to be local due to the pandemic, but maybe (local laws and whatnot)? Never sold a house before but when I bought my current house, the seller's attorney handled the title as well. Any suggestions? Thanks. submitted by /u/singluon [link] [comments] source https://www.reddit.com/r/RealEstate/comments/pejboh/orlando_real_estate_attorney/

I am a Florida renter of 7 years and my neighbor who ‘owned’ her home next to me died four months ago. I called the police for a welfare check at the end of July and never heard anything back. Turns out she had already died back in May. So now the county just contracted a mowing company to mow her overgrown yard.. Now I’m wondering what will happen to the house. It would be a beautiful little home for my wife and I and I was wondering if there was any kind of ‘insider’ way of going about purchasing it. I would be a first time homebuyer. I dont know the true status of the payments of the home but I know that she didn’t have any family members and was frankly a very rude woman. I imagine that her accounts are now four months behind as she didn’t have family to take over those affairs. Does anyone here know what the logical next steps are? I heard something from a family member about paying the property taxes on it but Im so clueless about this stuff. This maybe isn’t even the correct ...

I currently have a VA loan, the home is worth about 240k, owe about 198k. I want to buy a new home around 550k with my va loan again, with as little money down as all my money is tied up in investments. Another VA loan would be ideal. I’m trying to avoid moving twice (storage to home). Would I be able to get a bridge loan, make an offer with no contingency, sell my house and restore va entitlement prior to closing on the new VA mortgage? What would be the best way to go about this? submitted by /u/LVD187 [link] [comments] source https://www.reddit.com/r/RealEstate/comments/pehpry/one_off_question/

hello, i am 28 turning 29. NJ can not get over some regrets on not buying a 2 family or 3 in 2019 when i had the chance but moving forward to now. i have 200k to buy a 2 family as primary with conventional loan 15% and move out in one year then use a FHA for another duplex putting 11% down, using my math a 575k duplex with 10k taxes will cost 120k down including closing cost, 15% down and 10k reserves. leaves around 80k plus any future savings. in this market with rates under 3%, have i miss the train? im tired of seeing the news stating a mini crash will happen, or prices will keep going up etc. i want to make the best financial decision, i am almost 30! i do not want any more regrets out of fear. i have no debt and emergency fund, retirement accounts etc all are good. im looking for any help or tips that will allow me to make the most of using the funds to get as many units as possible submitted by /u/blueeyesdragon92 [link] [comments] source https://www.reddit.com...

Are houses overvalued at market price, or is the crazy part that people are paying well above asking prices? The reason I ask is because I'm FINALLY in a good financial situation to go house hunting, but I keep hearing/reading how now is a terrible time to buy a home and the prices will depreciate, etc. I'm just afraid of buying a home and it's value going down 10k+ and putting me in a hole, but I've been saving up for years now and feel financially ready. I'm so torn on what to do because I want to finally move to the next chapter of my life, but I'm not sure if the timing is actually terrible or just overly dramatized. submitted by /u/PrettyyyyPrettyGood [link] [comments] source https://www.reddit.com/r/RealEstate/comments/pei9af/are_market_prices_really_that_crazy_or_is_it_the/

My real estate agent recommended this mortgage broker. I called him and he said he can only do a loan of $700K max. In googling around, I am not seeing a specific limit for a jumbo loan. This $700K limit isn't tied to my income, but it sounded like a hard limit. This is in Florida for a primary. What do you think is going on? submitted by /u/spe-swa [link] [comments] source https://www.reddit.com/r/RealEstate/comments/pei8ui/fl_mortgage_broker_says_he_can_only_do_700k_max/

Just what the title says. Do you just scrape Zillow listings in your area and market to them? or is there another avenue I don’t know about? submitted by /u/tazjam90 [link] [comments] source https://www.reddit.com/r/RealEstate/comments/pei3gl/usa_real_estate_agents_what_do_you_use_to_get_new/

My partner and I have been house hunting for about a year now and recently saw a home we liked (but didn't love). The house fits our needs right now, but would not in 5 years probably, however, the price is extremely good as it's been sitting on the market for 9 weeks with little to no interest. We have plans to move about 300 miles away in 5 years and the house would make an ideal rental property (something I've been interested in) for after we move. The mortgage payment would be less than we're currently paying for rent but the trade off is in location (way more rural) and the size is basically the same as our apartment. We're really torn and hoping the real estate gurus here might have some advice. We both feel we would be happy there, but the driving force behind wanting to make an offer is primarily the asking price. Is it wise to make a decision out of fear that we won't be able to find anything like this at the same budget range? submitted by /u/...

What are peoples thoughts on Crypto being incorporated into the Real Estate market? I was just wondering if there were alot of people in this community of Real Estate investors that are maybe Crypto investors as well and if so, what they think the positives would be for these two huge markets to be merged together more in the future. Or maybe there are some on here who aren't Crypto investors already but think the future of Real Estate could be improved within the digital space? Anyway.. Would love to know people's thoughts on it 😊 submitted by /u/MelodicWitness8215 [link] [comments] source https://www.reddit.com/r/RealEstate/comments/pehm0e/crypto_within_real_estate/

What would be your best investment advice for a 23 year old with 200k liquid, looking for monthly STABLE cash flow? Best areas to look at for investment? Anything other than RE? (I know I know this is RE Reddit) but still, money is money. Help me out. submitted by /u/No-Guitar-9937 [link] [comments] source https://www.reddit.com/r/RealEstate/comments/peh25i/what_to_do_with_200k/

My wife and I were able to see a property 15 mins before the deadline for all offers to be in. We came in with our best offer and told our agent we would be comfortable with 30 day occupancy post closing, but not 60 days as the seller was requesting. We rushed to get the offer in due to timing and surprisingly won out between other bids. Shortly after we noticed our purchase agreement states 60 days occupancy vs 30. Ultimately, we feel this is our fault for not catching it and are worried the deal may be blown because of it. Thoughts? submitted by /u/JinxyCat2987 [link] [comments] source https://www.reddit.com/r/RealEstate/comments/peh10g/purchase_agreement_error/

submitted by /u/thefotokart [link] [comments] source https://www.reddit.com/r/RealEstate/comments/pegmeu/vastu_shastra_tips_for_water_fountains_to_bring/

submitted by /u/Fappiness-isawarmgun [link] [comments] source https://www.reddit.com/r/RealEstate/comments/peght0/do_fha_appraisers_look_for_bubblingblistering/

https://www.youtube.com/watch?v=X3p_tXujIv8 submitted by /u/Jerusalem_Jew [link] [comments] source https://www.reddit.com/r/RealEstate/comments/pegdre/cash_buyers_account_for_33_of_us_home_sales/

submitted by /u/itspazzy [link] [comments] source https://www.reddit.com/r/RealEstate/comments/pee15d/on_friday_of_last_week_my_agent_told_me_that_he/

See title. We all know the eviction moratorium was illegal when it was first enacted. SCOTUS just confirmed it. Landlords have very little power in recovering lost rent. There is no framework here for landlords to pressure tenants to repay the owed rent. It would seem fair that people who owe back-rent have a mark on their credit score until they repay everything. submitted by /u/senttoschool [link] [comments] source https://www.reddit.com/r/RealEstate/comments/pedoid/so_now_that_the_scotus_said_eviction_moratorium/

Do you need Owner’s Corporation approval for installation of soundproofing seals to the existing timber front door of the unit? The door itself would be left unchanged but seals would be installed, again for the purposes of noise reduction. Answer: You need to consider whether or not the door is on or in common property. You need to consider whether or not the door is on or in common property. If it is, this would require consent (at the very least) of the Owners Corporation . Your manager will confirm this for you. If you have determined the door is private property, then you only have several points to cover off. For example, if you do not intend to change the external appearance of the door, then you shouldn’t need to seek consent of the Owners Corporation under 5.2 of the Model Rules. If it will change the appearance, again you will need Owners Corporation consent. Regardless, one very important factor to confirm is whether the door is classified as a fire door. If so, ther...

This lady is a very distant relative of my wife. We live in the basement and do little household chores, buy groceries, and cook exchange for greatly reduced rent. She’s got horrible memory issues and can’t cook for herself without risking the house burning down. She’s otherwise in pretty good health. Her 3 daughters have power of attorney and we have a good relationship with them because we take really good care of their mom. So we want to buy this house eventually and plant that seed to let them know we are really interested for when their mom passes on or moves to another home. How can we bring that up in a positive/gentle way without sounding like “we want this house when the old lady kicks the bucket”? submitted by /u/obronikoko [link] [comments] source https://www.reddit.com/r/RealEstate/comments/pe1umo/the_landlord_is_86_with_dementia_how_do_i_bring/

I understand Zillow Offers asks you to fill out a disclosure form. Has anyone done so with "no representation" throughout? I went this to go as fast as possible, but don't want to sink the deal if Zillow objects. submitted by /u/spe-swa [link] [comments] source https://www.reddit.com/r/RealEstate/comments/pe1oo5/zillow_offers_stating_no_representation_on/

So I own a property with my hopefully soon to me moving out ex. We refinanced the house last fall after adding a solar panel array to the house and moved the HELOC debt into the new first mortgage. At the moment she is comparing our run down house with an identical house in the same neighborhood that has been updated with new double hung windows, new laminate flooring throughout the upstairs and lower level, new deck, new kitchen countertops... You get the drift. On the other hand our house has the original 1985 single pane wood frame windows that are literally rotting from moisture damage, original carpet noticable wear and stains, cracked tile in the kitchen from damn subflooring, drywall that has been cut out from the basement, walls with crayon marks that have badly painted over without proper prep, spalling garage slab and front stoop and original asphalt driveway that is crumbling. She has taken it upon herself to try to repair and freshen up the house while I have been away ...

I am looking to purchase this house in Canada. How much would it cost to rehab this? https://www.zillow.com/homedetails/21-Dalhousie-Ave-Hamilton-ON-L8L-3J4/2068710743_zpid/ Thanks a lot for your help. submitted by /u/Particular_Egg_5791 [link] [comments] source https://www.reddit.com/r/RealEstate/comments/pe1hhz/house_renovation_cost/

I bought a house in Vermont last year. Vermont has a state property transfer tax ( https://tax.vermont.gov/property/ptt ), the amount was listed on the HUD-1 (line 1205) correctly, but the title company sent the check for that amount to the town instead of the state. It was applied to my town property taxes, but I later had to play the transfer tax and a penalty of several hundred dollars for late payment. What's the best way to pursue compensation for this? The title company? A title insurance claim? Is there some industry association/regulator? submitted by /u/sfinae [link] [comments] source https://www.reddit.com/r/RealEstate/comments/pe0ej3/escrow_company_mistake/

Sorry if this doesn't belong here but have no idea who to ask. So my house is brand new and I'm the only one on my street. The issue is. My address doesn't show up on maps or anywhere so I can't get deliveries. Is there a way to fix this? submitted by /u/GunMetalGazm [link] [comments] source https://www.reddit.com/r/RealEstate/comments/pdzw77/my_address_is_not_showing_up_for_deliveries/

I am looking to move to west coast (California bay area). With increasing prices, putting down 20% is getting tough. Question that came to mind was - with high house prices > 1.2 to 1.5 Million, do banks insist putting down 20% to avoid PMI costs? Thank you. submitted by /u/lance_klusener [link] [comments] source https://www.reddit.com/r/RealEstate/comments/pdzv9h/for_expensive_houses_in_hcol_do_i_absolutely_need/

Will FHA pass one hand rail on a outside step is there any guidance on that? submitted by /u/Djkevinpaul [link] [comments] source https://www.reddit.com/r/RealEstate/comments/pe159b/hand_rail_for_fha_min_standards/

Hi everyone, Quick Background: My SO and I are are first time homebuyers and we are lucky enough to finally be in contract on a home north of Seattle, WA, after a 2 year (3, if you count 2020) hunt. This was our 4th offer of this year. After the first 3, where we waived financing, appraisal, inspection, offered rent buyback, offered a 3 week (or flexible) close, and offered over $25-60K on asking (I know, it isn't a lot over asking), we nailed it with our 4th offer with the house only on the market for 2 days. We learned the sellers wanted to get their asking and wanted a quick close, and we were able to only waive inspection (after inspection and proof of repairs were presented). We were able to offer asking! Right now, I am working between 3 lenders, one of them is Redfin Mortgage and two local lenders. I was curious about it but haven't seen a lot of discussion on here regarding it. I am curious if anyone has had any experience with them? Our experience so far: Our Redfi...

Hello, Can I claim rental property tax deductions if I also live in the property? For example, if I rented out rooms in my primary residence, can I claim tax deductions on property taxes, mortgage interest, repairs? ​ Thanks submitted by /u/NoWayThisUserIsTaken [link] [comments] source https://www.reddit.com/r/RealEstate/comments/pe1210/can_i_claim_rental_property_tax_deductions_if_i/

Opendoor is an awful company to deal with. We finally got to closing, we signed everything on our end Friday. They never attend closing. We were sent on our way thinking all is well, 2 days later we find out they still haven't signed. We spent the weekend painting and moving in small things. We have movers contracted to move everything in on Monday morning. Now our agent is saying we don't need to move anything and really we shouldn't be in the house. I am freaking out. We have grandparents on their way right now who are very covid cautious (mid 70's) and no way we could convince them to stay at a hotel. We were planning to sleep on air mattresses tonight at the house. We have been in airbnbs/hotels for 2 months now after we sold our home while we waited to close. I thought we were done! Do we have any recourse? Opendoor agent says they haven't signed because they are overloaded with closings and can't give us any date when they might get to us. This is insan...

Didn’t even know this was a thing. My daughter’s offer was accepted (yay) but now a single entity within the entire condo complex owns more than 10% of the total units. This situation makes it a portfolio loan or 2nd home loan BUT she doesn’t own property and her co-signer doesn’t own property AND it’s her primary residence. My ask: what other type of loans are available to her? location property and amount details below. Location: Hawaii Property Type: condominium Loan Type: conforming Thanks in advance!!! submitted by /u/Kmraj [link] [comments] source https://www.reddit.com/r/RealEstate/comments/pdzfyy/condo_ownership_wont_allow_conventional_loan/

Hi guys. Looking at a property that has an underwater reverse mortgage. From what I understand underwater HECM conforming reverse mortgages can be paid off by the seller at 95% of the properties current appraised value (with no deficiency issue to the seller). A few specific questions: How is the appraised value established? If I were to put a contract on the house for X amount would the appraisal done by my bank be the appraised value as per HECM rules? Are sellers fees (agent commissions, sellers credits to the buyer, etc) deducted as normal from this 95% value with no effect to the seller? In this scenario the seller would not be walking away with any money from the closing. Their other option through HECM is simply to surrender their property deed in lieu. I’m trying to avoid that. In terms of getting them some funds legally outside of closing. I’ve read that purchasing all of their furnishings, furniture, etc is one option. Any other ideas? Is there no way to pay rel...

I'm looking for a home in the DMV area and found that a 10/10/80 loan is best for my financial situation for numerous reasons. However, I can't seem to find any viable lenders. All the lenders in this area only seem be selling the 5%down loan, which of course is more money for the bank. If I want a 10/10/80 loan, I can't find any lenders that can promise me a close in under 30days. That's a non-starter in this market where good houses only last like 3 days on average. So how can I get a 10/10/80 loan at that speed? Am I missing something, or is 30-45day closing on these loans par for the course? Is HELOC the answer to get a faster loan? Any advice is greatly appreciated. Thanks! submitted by /u/Egg-Engine [link] [comments] source https://www.reddit.com/r/RealEstate/comments/pdxggy/101080_loan_is_a_nonoption/

So I have already purchased the property, but would love to hear people’s perspective on the decision I made. The age old saying of location is what matters most when assessing the value of a property doesn’t have much detail on what location means. For example proximity to the beach vs view over looking the ocean but further away. My experience: Earlier this year I was assessing two lots in Big Sky, MT. Both similarly priced but the main difference between the two was the view and ski in / ski out access. All else relatively equal (lot size, price, building regs, neighbor, etc). Lot 1 had an amazing view of the Mountain without ski in / ski out access. Lot 2 had ski in / ski out access and lesser of a view. It would be great to hear your opinion which is the better investment when it comes to location: proximity vs view. submitted by /u/Jackjack85 [link] [comments] source https://www.reddit.com/r/RealEstate/comments/pdx3vc/location_location_location/

HCOL area, combined base salary for my wife and l of $140k + 40k in bonus . l work in sales. We have no other debt other than $120k in student loan debt and 2 credit cards with 6% utilization . Both cars are paid off We have 2 options by a townhouse or a SFH. The SFH is priced at $395K and would fit what we are looking for short and long term. The townhouse is not feasible past 2 years as we have 3 kids. But we could buy it and sell it in a year and half allowing us to pay down our student loan debt , put more towards retirement. l am worried about overextending ourself and not putting away enough for retirement and dealing with unexpected maintenance. My wife's car has been giving her issues and we probably need to buy her a new car in a year.. The only other major expense is our homeowner, life, auto and umbrella policy and student loans. All together that's $850 a month + $750 utilities + $800 for groceries + $300 in gas. Any advice appreciated submitted by /u/DMass77...

What are your thoughts on this timeshare NPR article (that you can Google directly) To make second home ownership possible for more people — and, of course, make money — Pacaso uses a "fractional home ownership" model. They buy a house, lightly refurbish it, furnish it and then create an LLC for it. They then divvy up ownership of this corporatized house into eight fractions and sell those shares on their website. If you buy a share in a house, you're able to stay in it 44 nights per year in increments that can't exceed 14 consecutive days per visit. You can also "gift" these stays to friends or family. Pacaso offers an app to handle the logistics of booking stays. It oversees management, maintenance and cleaning of the property. In exchange for all this, it charges 12% of the home's purchase price upfront and monthly fees going forward. If you buy a share in a house, you have to hold on to it for a year. After that, you can sell it and profit from an...

Don't know if this is the right sub for this but I need some guidance. I moved out of my apartment on July 31 having given prior notice that I'm doing so cos of military orders. I already paid for July's rent . I got a check in the mail and the break down says I was charge for August even though I already moved out . Do I have a case here or I'm screwed out of my money. Any help will be greatly appreciated submitted by /u/julukus [link] [comments] source https://www.reddit.com/r/RealEstate/comments/pdufmu/advance_rent_cheque_doesnt_add_up/

Is a cash offer stronger than a "no financing contingency offer" assuming you show proof of funds in both cases and the seller is not in a hurry to close? edit: also assume a substantial EMD in both cases. submitted by /u/thrownawaychris [link] [comments] source https://www.reddit.com/r/RealEstate/comments/pdtfm9/cash_vs_no_financing_contingency/

I just want to thank this sub for getting us through the past year and a half. I learned more than I ever thought I needed to know about real estate transactions, and it is a great resource. We are buyers in a HCOL area (greater Boston) and have been looking for 1.5 years (with a VA loan!) for a home in an extremely hot market. We got an offer accepted on a beautiful colonial today for only slightly above asking after a tense negotiation. I just want to offer hope to anyone else who is still out there looking, it CAN happen for you. We refused to do anything with appraisal gaps, waiving appraisals, we didn’t even need to do 20% down. From what we can tell, there is a slight softening to the market right now. Take a chance on the properties that haven’t sold after the first week, that is what ultimately paid off for us after 10 rejections. Good luck out there!!! submitted by /u/Peebers777 [link] [comments] source https://www.reddit.com/r/RealEstate/comments/pdslwq/finally_...

I have a question in terms of fiduciary duty in relation estate. I am currently in a situation where a realtor asked questions that I found inappropriate and continued to send me listings that were outside of my budget. Her excuse was that she wanted me to buy a property of value and she was selling me a lifestyle, not four walls and a ceiling. However, the monthly payments for the places she was showing me were more than double my budget. I got preapproved through the lender she suggested, and we all had a frank conversation about what was possible financially. At what point can a realtor claim that she is showing me properties for my benefit if they are outside of my price range? At what point are they no longer providing fiduciary duty? submitted by /u/cheese_eats [link] [comments] source https://www.reddit.com/r/RealEstate/comments/pdrpug/fiduciary_duty_real_estate/

Hi all, let me preface this by saying that I (22F) am a rookie real estate agent (1y) and doing pretty well for myself. Once clients have decided to buy/sell real estate, I make it happen. But I wouldn’t know whether they should or shouldn’t buy, if that makes sense. I’m still learning. Onto the actual situation: TLDR: I may have an opportunity to buy 50% of the family vacation home on the French Riviera. I would then own it jointly with my grandpa, and after his death, with my dad and aunt. It would however be my primary residence while still being their vacation home (big plot of land, many opportunities). Before I broach the subject with my grandpa and his brother, I want to be sure of myself. Long version: The house used to belong to my great grandparents, and currently is owned by my grandpa and his brother. They are very attached to it. Following recent conversations with my grandpa’s brother’s kids (the heirs to his current share), it appears that none of them are interest...

I don't put a lot of faith in rumors, which is why I want to ask actual experts. The buyer would pay cash in this scenario: This would be a build-from-new simple 3 BR ranch house, master BR and two smaller BR, with the basement (modestly) finished for a wet bar/games/movie area. Within 50 miles of 45202, preferably to the south or east. submitted by /u/EggcornBot [link] [comments] source https://www.reddit.com/r/RealEstate/comments/pdr5yp/is_it_wise_to_buybuild_in_this_kind_of_market/

Hello all, I currently own a home (1.5 years) and recently made the decision to list it and out an offer in on another home. The home we want has been on the market for 2+months and dropped in price by $20k and from all appearances is in pristine conditions/checks all the boxes. Approved for fha or conventional, major contingency is the sell of my current home. Out offer was submitted 2 days ago, nothing confirmed but noticed the status of the home has changed to “contingent”. Has anyone went through this process recently and can offer tips. Also- my home was listed as coming soon yesterday and 5 confirmed showings over the next few days. Thank you! submitted by /u/fanda4ever [link] [comments] source https://www.reddit.com/r/RealEstate/comments/pdfzkd/questionsguidance/

I’m not sure if this is the right place for this but hoping someone can answer or point me in the right direction. I’m currently a nursing student and have not been actively working during the program. I’m also a single parent, so it would only be my income. My program just moved online, so my current location isn’t as dependent now. I’m also in a position where my landlord wants to sell, I may be able to get out of a lease more easily if wanted to. I have good credit score, only debt is student loan, and prior to quitting working full time,I had a solid work history. Sold a home I owned around 2012 that was FHA. I’m wondering what my options are, if any. submitted by /u/WonkyMom2020 [link] [comments] source https://www.reddit.com/r/RealEstate/comments/pdfm2e/california_how_to_obtain_a_mortgage_as_a_student/

I am a first time home buyer, and yesterday the seller reported that heavy rain ~3in in a few hours caused small leaks in the basement in several unfinished areas they had never had water before. 1) through rebar holes on one side (there is a track at the bottom of the wall that goes to a sump pump, sump pump did not turn) and 2) hydrostatic water on the other side of the house. House is 44 years old and seller has lived there for 32 years. He received quotes to seal area 1 and divert water away from a downspout that is too close to the house and likely the source of water build up for area 2. He is going to pay for all work ~$2000 I am posting because I am shocked this is something the seller felt obligated to report and fix after our inspection period. I would have never put him at fault for this as a sump pump is present and it’s an older house. I am curious of others thoughts on obligations to report water or extent of damage after storms etc. submitted by /u/aylar [link]...

Just a question, still too young to get a property but i already wanna have the knowledge submitted by /u/Hot-Eye8324 [link] [comments] source https://www.reddit.com/r/RealEstate/comments/pdejw0/best_way_to_get_your_first_property/

Prices may still be inflated, but most developers cover major repairs up to a year, so it is a safer bet. Does this makes sense ? submitted by /u/voivode17 [link] [comments] source https://www.reddit.com/r/RealEstate/comments/pdeaav/with_all_the_cash_offers_appraisal_and_inspection/

As a seller who just closed on a house, we have some extra to throw at our new house we're currently living in. My loan officer mentioned that we could recast after 90 days after closing for $500 which would decrease our monthly payment of $1900. 30 year, 2.5% interest rate right now should not change after recast. Should we just put more towards principal each month instead? submitted by /u/techmakin [link] [comments] source https://www.reddit.com/r/RealEstate/comments/pde6y4/to_recast_a_mortgage_or_just_add_more_principal/

What’s the risk of bidding high to win the bid during a bidding war in hopes it doesn’t appraise and then knocking the price down later? It obviously seems very snakey but at the end of the day a seller is going to be subject to the appraisal regardless, unless an appraisal gap is worked out and that can be renegotiated anyway in tidewater. submitted by /u/KidAardvark24 [link] [comments] source https://www.reddit.com/r/RealEstate/comments/pde1wh/bidding_high_and_hoping_it_doesnt_appraise/

"“In a market that right now only has close to half a million listings, a big boost in inventory can mean more choices for buyers and potentially a slowdown in price growth,” says Ratiu. He was quick to add that prices won’t drop, but the double-digit growth may taper off. “It’s signaling a return to normal for the economy and the housing market.”" https://www.realtor.com/news/trends/the-housing-market-frenzy-could-cool-for-this-reason/?identityID=5940b47c9a66eb5550069b82&MID=2021_0426_NL_Multi_Article&RID=4453830822&cid=eml_promo_Marketing_NonPRSL_MultiArticleNL_cons.12696182_2021_0426_NL_Multi_Article-article1-blogs_trends submitted by /u/triviumfan4ever93 [link] [comments] source https://www.reddit.com/r/RealEstate/comments/pdcgd7/thoughts_on_this_article_will_the_housing_market/

We recently moved out of our house into a rental for a job across the country. Our real estate agent was taking care of repairs and was getting ready to list. We had just painted our front porch and door about a month before we moved. I had asked to see pictures before she posted. She did not and the listing is now live. To my surprise our front door is now yellow? Why would she do this without asking us? I’d be open to changing the door color if that helps to sell but I would never have chosen that color. Is it too late to get a new real estate agent? submitted by /u/jersephsmerth [link] [comments] source https://www.reddit.com/r/RealEstate/comments/pdb9lc/real_estate_agent_painted_our_front_door_a/