submitted by /u/ValuableOk10 [link] [comments] source https://www.reddit.com/r/RealEstate/comments/ufc7np/im_bullish_on_innovative_disruption_in_the_real/

I’m looking at interest only mortgage options and trying to understand when it makes sense. I’m thinking if you don’t feel like your home is going to appreciate very quickly especially now, then putting down a bigger down payment plus taking out an interest only mortgage would help you lower the monthly mortgage amount for 7-10 years and at the same time means you can deduct your entire mortgage payment. So you still participate in the upside with your down payment, while getting to deduct your entire mortgage payment, and lower your total monthly cost. And if you plan to sell before you start having to make principle payments then it works out even better. submitted by /u/jzmorganchase [link] [comments] source https://www.reddit.com/r/RealEstate/comments/ufc7ag/when_do_interest_only_mortgages_make_sense/

I'm interested in buying a lot that's listed online, but not sure what I should ask about during the initial inquiry. I'd like to see if they have a a site/soil evaluation or even a site survey, but I have no idea how any of it works. Any advice or canned messages for what I should/shouldn't say or ask would be really helpful. Thanks! submitted by /u/einbierbitte [link] [comments] source https://www.reddit.com/r/RealEstate/comments/ufbcgh/what_to_ask_during_initial_contact_for_possible/

I would like to find the floor plans for every unit in a condo complex, not just the ones currently for sale. The building doesn't have them, and I can only find a few on google. Where can I go to get them all? submitted by /u/billytime69 [link] [comments] source https://www.reddit.com/r/RealEstate/comments/ufb46m/nv_how_can_i_find_all_the_floor_plans_for_this/

My wife owns a 2 family rental property in NJ that we want to sell, it was gifted by her parents about two years ago. Notice was given to the tenants to vacate by July and one offered to buy it for $400k. Zillow & trulia estimate it's worth $465k, redfin $505k, and realtor.com $549k.The tenant doesn't want to move and will buy the house as-is. My FIL has been maintaining the property but he's tired of it, I've never actually seen it but he says it's in pretty rough shape and before getting the offer from the tenant said it should be sold as-is. It's 100 years old and he says the roof is getting to end of life, the plumbing needs to be replaced, driveway needs to be repaved, and everything about it is old and outdated. Should we accept the tenants offer? Anything we need to know about taxes? I bought my primary residence 5 years ago but besides that I have no knowledge or experience with real estate. submitted by /u/notpaulrudd [link] [comments] ...

My real estate agent only showed me one house. A house we lost, because she spammed the seller’s agent with calls requesting to know the bid amounts, which ultimately led to my real estate agent getting blocked and us not being able to submit a bid. Before this she referred us to a lender. This lender never sent us our pre-approval and sent it only to our agent. After not hearing any updates from the lender on my approval status and no response. I finally sent the lender a message asking if we are still working with him or if we need a new lender. He then promptly responded and said he sent her the letter a week prior and didn’t CC me. It seems like my agent was hiding my pre-approval so that I wouldn’t run off anywhere without her. During the house search she told us to look for homes on our own and report back if we like anything. A month ago we finally found a new construction home and informed her about it. She became a bit upset, because apparently she had to come with us to the ...

Example: A: Assume you finance $400,000 with no money down, 5% at 30 years. Monthly payment: $2,147 B: assume the market falls 20%, you finance $320,000 but interest rates continued to rise, and you get 7.5% for 30 years. Monthly payment: $2,237 For you to match current prices, the market would need to fall about 24% if interest rates rose to 7.5% If they go to 8% or more, you’ll need the market to fall closer to 30% to break even compared to today’s market. So what would they tell me? (Someone with the belief that rates won’t be lower for the next year or so at least.) I also don’t believe we’re going to see prices tank 30%. Buy now. submitted by /u/superavg [link] [comments] source https://www.reddit.com/r/RealEstate/comments/uf7qgp/some_math_people_seem_to_be_forgetting/

List price was 325k and due to a competitive bidding process, my offer was accepted at 390k. I had a contingency stating that I would fund up to 15k difference between final offer and appraised value. Lending company stated that they would have an appraiser consider a recent sold price nearby and use that to increase the appraisal. However they do not have the confidence that the condo will appraise beyond 355 or 360k. That is still 30k difference. I have the option to walk away, work with the seller to each put in 15k or put in 30k myself. I don't even want to consider the last option. This is in the Lake City area. Lending company is planning to give the final appraisal value on Tuesday. Would love to hear your thoughts in the meantime! submitted by /u/throwaway90-25 [link] [comments] source https://www.reddit.com/r/RealEstate/comments/uf7287/seattle_condo_appraised_at_340k_when_offer/

Hey there fellow Redditors! Burner account for privacy reasons. I'm in the the process of selling commercial real estate properties in Barranquilla, Colombia. My family has a Residential Real Estate Development company and we own some properties. We are in need of some liquidity to finish projects and pay back to the banks. Selling properties locally is slow because there aren't that many buyers at the moment. I was wondering if there was a way to sell these properties to people abroad (most likely USA). Are there any Real Estate Private Equity that invests in Commercial Real Estate in Colombia or LATAM? How do I go about selling any of these? I've no clue where to start so any help will be highly appreciated! Happy to answer any questions too. PS: We have multiple properties ranging from $3MM USD to $10MM USD. Thank you(: submitted by /u/Aspenucho [link] [comments] source https://www.reddit.com/r/RealEstate/comments/uen44f/how_to_buysell_commercial_real_est...

Wife and I are hoping to be in good position to buy our first home by the end of the year, between increased savings from recent job moves and a possible down payment gift portion from family. Lots of “ifs” here but I am curious — Seems like there’s a decent chance of the economy moving into a recession. That would be manageable for us (with all due sensitivity for those who would be facing job loss) as our roles and industries are very secure. My question is, during a recession, should we expect the number of available homes to decrease as folks try to ride out the downturn rather than selling low? We live in a HCOL area on the east coast. To be clear I’m not COUNTING on a recession, just wondering how that would affect availability. submitted by /u/considertheoctopus [link] [comments] source https://www.reddit.com/r/RealEstate/comments/uemolx/housing_availability_during_a_recession/

I'm new and idk if this is normal or not. I found a leaning investment brokerage company that I was interested in and contacted the owner. Told him I was interested in a house, duplex and he fwd the email to his partner to set up filters and see what my interest are ect. When we talked on the phone, I asked her about the house, and she thought it could be a winner and good deal. And she mentioned that she also mentioned the street to other people too. Just to reiterate, I'm new, idk if I'm being suckered in or this is normal. She is an investor and she's seems knowledgeable and very excited. But it just feels a bit wrong since I found the property and already said I'm interested in looking. Maybe I'm being sensitive about it,... Is this normal? Like I guess wwont this increase the amount of potential buyers and she gets more money? submitted by /u/Icekitsune714 [link] [comments] source https://www.reddit.com/r/RealEstate/comments/uem2wi/can_a_re_age...

I live in Alabama & have a chance of buying 2.5 acres of land for 15k. This is my first time buying any type of property so please point me to the right direction on who to ask, but the owner of the land said that they had to sell it with a quit claim deed so the land doesn’t have to be probated. I have no clue what either of those terms mean & the google definitions don’t really help out submitted by /u/UnwhitePerson [link] [comments] source https://www.reddit.com/r/RealEstate/comments/uekeor/is_buying_land_with_a_quit_claim_deed_legit/

30 recently married male in MCOL area. When I started really saving for a house 5 years ago, I believed I would buy a $150k starter house and live there for a few years. I started a side hustle, stashed $250k in a down payment fund rapidly (the business took off), and decided with my new wife to go for it about 5 months ago. I thought this would be fun. Going for $350k houses seemed like a dream a few years ago - that I could never do it. But even $350k houses are on the market for 16 hours before having offers $70k over asking or some bullshit and I think that I could not realistically be in a better position to buy a house but I’m not gonna be stupid. I feel defeated but I just can’t do it anymore. This market is not for my wife and I and I can’t stomach paying SO MUCH over what I know these houses are worth. I’m all about being aggressive and I’ll definitely overpay. But I’m not gonna be dumb. Guess I’ll just keep saving. Thanks for letting me vent because I’m sad. submitt...

Choosing the right apartments in a high rise building can be a daunting task. You want to make sure that you're getting the best possible deal, but you also want to be sure that you're living in a safe and comfortable environment. https://asmitagroup.livejournal.com/462.html #BuyApartmentsinMumbai submitted by /u/asmitaindiarealtyair [link] [comments] source https://www.reddit.com/r/RealEstate/comments/uei6c1/how_to_choose_the_right_apartments_in_a_high_rise/

I am looking into getting my real estate license for Georgia and am looking for a sponsor in the NorthEast Metro Atlanta Area. If anyone knows of a company or group that does that here, please let me know. Thanks in Advance! submitted by /u/inmyheadidream [link] [comments] source https://www.reddit.com/r/RealEstate/comments/udtjol/real_estate_sponsor/

Hey, I'm studying econ at UCONN and I want to get a real estate license over the summer but not until my summer class is over at the start of July. Is there any way I can get a license between July and early September? submitted by /u/Jagger1637 [link] [comments] source https://www.reddit.com/r/RealEstate/comments/udtgee/fastest_time_i_can_get_a_real_estate_license/

We might need therapy after this. We’ve been searching for a new home for 1.5 years now. Sadly, we lost about 10 offers even with our new agent and creative ways to win. So we got lucky and found a lot in an community we like and is thinking of building… but then we can’t commit bc it will take 14 months to build vs purchasing a regular home and moving in a few months later. we keeping thinking “what if” we find a potential home and things slow down? Hypothetically speaking, we would like to build then if a house comes along can we purchase that house too? Then sell the new build after its built. Is this possible if so how does this work? Side note, we have a house that we currently live in and will sell when we find a house . submitted by /u/Cpc2021 [link] [comments] source https://www.reddit.com/r/RealEstate/comments/udtcf3/were_in_a_pickle/

My husband and I just started the process of building a home (set to break ground early next week) and although we were able to lock in the interest rate by putting an additional 1% down, the rate did jump before we knew it was an option to lock it in. We live in AZ and despite what google may say, it’s become extremely expensive here with the average home around $450k, possibly more. Our real estate agent told us that the home we’re building may be worth $610 by the end of the year. We have heard that the market isn’t sustainable and is going to crash, we’ve heard the exact opposite as well. Because the interest rate jumped, our mortgage payment went up by about $450 per month putting the mortgage payment at $3,300 per month. Although we do okay financially this is such a large payment. We have the opportunity to back out of the house and move in with my parents rent-free for a few years. We’re about to be first time parents and could potentially use the opportunity to finish scho...

I am looking all over the internet for a Real Estate CRM and Website service. I have been looking a couple of options like KVCore or BoomTown but they are very expensive and I don't know if they support Albanian language for the site. We are a small team in Albania with one office and we really need some help to find a good Cloud service or Company to work with. submitted by /u/fioreid [link] [comments] source https://www.reddit.com/r/RealEstate/comments/udqypm/crm_website_for_real_estate_agency_need_help/

Buying a home from my parents using a gift of equity as down and to cover closing costs. Locked into a 15 year 3.375 interest rate with 1.25 points. Sale price= $300,000 Appraised Value= $417,000. GOE= $117,000 The idea was to use the GOE as a down payment and for closing costs. Bank wanted to do $100,000 down and $10,000 for closing including 1.25 points. Here’s the thing, they set the sales price for $200,000 as if the GOE were an actual cash down payment on the $300,000 sales price. So all of the numbers were for the $200K loan. I saw the discrepancy and asked the loan agent how my parents were going to be paid the $300K when the loan amount was $200K. The agent told me that a different agent more familiar with GOE would explain when we got closer to the closing date. That’s didn’t sound like the smartest way to proceed with a loan, so I asked the managing agent the same question. She told me the same thing and not to worry. The only rationale that I could come up with was that ...

submitted by /u/getboy97 [link] [comments] source https://www.reddit.com/r/RealEstate/comments/udoprq/my_parents_house_is_down_the_street_and_they_are/

Hello, I have a dumb question I am closing (hopefully) on a house in June. My lender, Navy Federal, says I can lock in a lower interest rate with them if rate drop in the next 2 months. They said I have to monitor rates, they will not inform me if rates drop My question is how do I know if rates drop? It seems each time I google rates, I get different numbers. It’s not like NFCU had a “here is the rate for today” webpage. submitted by /u/Firelavahot [link] [comments] source https://www.reddit.com/r/RealEstate/comments/ud104j/interest_rate_questions/

Forgive me if I'm off the topic. But maybe some guys are in the same position with me I wanted to ask whether someone can recommend an ergonomic office chair for somebody between 185-190cm (but not heavy)? I don't know much about office chairs and currently I'm trying to get a used one, for WFH. And frankly, my budget is limited around $500-700 In the local store I found some good offers on a Steelcase Leap V1, Gesture, Amia and a Herman Miller Mirra 2. (All without headrest). Is there a good chance they're working for me? Also I have two optional questions, is it possible to add aftermarket headrests to these chairs and do you have some additional chair recommendations for me to look up? I appreciate every answer! submitted by /u/astonmet_com [link] [comments] source https://www.reddit.com/r/RealEstate/comments/uczzoq/best_office_chairs_for_tall_people_recommendations/

How can I get free summaries to prep for the CA RE test? submitted by /u/Thundercats_4eva [link] [comments] source https://www.reddit.com/r/RealEstate/comments/ucx9ui/ca_re_exam_prep_summaries/

According to the article, it's already under contract: https://www.washingtonian.com/2022/04/26/a-former-toxic-waste-dump-in-a-hot-dc-neighborhood-is-for-sale-for-1-3-million/ submitted by /u/lewphone [link] [comments] source https://www.reddit.com/r/RealEstate/comments/ucx6x2/a_former_toxic_waste_dump_in_a_hot_dc/

I was suspended from work without pay for 30 days. I will be returning to work approximately two weeks before I’m supposed to close on my new home…. Will this negatively affect my standing in regards to purchasing this home? Any and all advice is appreciated submitted by /u/freakiefeeties [link] [comments] source https://www.reddit.com/r/RealEstate/comments/ucr30t/need_advice/

I’m closing next Friday and it’s not been an easy road here with not-great sellers and my agent not caring about anything but pushing hard to close regardless of my concerns.. FTHB and nervous, as the only leverage I’ve left is not to close if I discover anything major and the seller don’t negotiate in good faith submitted by /u/readitrepostedit [link] [comments] source https://www.reddit.com/r/RealEstate/comments/ucb1gc/what_to_expect_on_the_day_of_closing_any_nasty_or/

Hello I am sill learning and doing research so forgive me if my question is a bit silly. When using a hard money lender to purchase a long term rental property do you have to pay a down payment on the value of the loan or the purchase price of home? Loan terms 80% LTV. Purchase price 100k I assume given the numbers above I would get a loan of 80k and cover other 20k to purchase the home. Now here is where I am confused So is that 20k the actual down payment or do I have to cover that 20k plus another 20% on the loan itself? The reason I ask is because of this video. https://youtu.be/GICDUPAFtVo?t=527 submitted by /u/Endkeeper23 [link] [comments] source https://www.reddit.com/r/RealEstate/comments/uc84hu/questions_about_hard_money_lenders_ltv_and_down/

He recorded our conversation on the phone of me saying if he got accepted to the town the house is in (which he didn't and prob won't) he can buy the house ... I know that if we didn't sign on anything Which we didn't he can't do anything but that recording scares me a little and i don't know if he gonna submit the whole recording or just what suits him (he sounded nice at first then revealed he's true colors) i found a new buyer a nice old lady she passed the entrance meeting to my town and is a great person compared to the other one ... Can i sell it to her and hope he is just good at intimidating or can i get in trouble? Thx submitted by /u/LopsidedAd6128 [link] [comments] source https://www.reddit.com/r/RealEstate/comments/uc73ba/i_promised_to_sell_my_house_to_a_man_on_the_phone/

I suggest giving this some thought before you emotionally respond to this inquiry. I am curiously wondering since homes have been around forever as well as home purchasing contracts and such why agents make so much? Keep in mind... They make so much that there's a massive amount of people that want to be a real estate agent because of it's lucrative nature. Now turn to the conversation to scales of manufacturing. The more of something that is produced in quantity the cheaper/lower cost it is supposed to become. The more homes that are sold and the more than paperwork and contracts are more mainstreamed and commonplace means it should lower the cost because these agents are barely lifting a finger to do any true work. I know there's a partially truth to what I say because there are ways to many people that have bought homes that say they DREAD the home buying process because of all the PAINS they have to go through. Why did you pay so much to an agent to just put you thro...

submitted by /u/PickKey651 [link] [comments] source https://www.reddit.com/r/RealEstate/comments/uc5uu3/officetel_astral_city_căn_hộ_văn_phòng_đa_năng/

I have been house hunting for over a year, live outside of Boston. I've been outbid several times and can't find the "right" house. Just this past weekend we found a "right enough" house and are planning to purchase directly from the owners (below the estimated Zillow price). I have a RE lawyer who has been helping with various aspects, but wondering what things I need to be mindful of? A few key pieces of info to consider: we're putting 20% down, we have outstanding credit, we're pre-approved for a 30-year mortgage at 4.75% (bad but not terrible). We're waiving an inspection, but the home was bulit in 1992 and has been in the hands of the original owners since then - as I've been house hunting for so long the only concern I have is I saw some 'debris' in one corner of the basement that could've been mouse poop, but could also be dead bugs (that said, it's not a lot and it looks ancient). All systems have been recently updat...

Hello! We are unexpectedly needing to move across the country, and need to find an agent who can help us remotely. We are looking at two different cities within an hour of Denver, but one is to the north and the other is to the east. Is it even possible to find one agent who can reliably help us over such a large area? Is there a particular term or phrase I can Google to help find an agent who is able to help us with such a large search? We want to be open to as many properties within our budget as possible, which is why we don't want to narrow down to one specific area. Thank you! submitted by /u/lynchiandream [link] [comments] source https://www.reddit.com/r/RealEstate/comments/ubhzgi/how_large_of_an_area_does_an_agent_cover/

I plan to retire in a few years and want to move somewhere else in the country (currently living and working in the Northeast USA). My plan is buy a rental property that will eventually become my own residence one day (since I can't relocate now due to various personal/work reasons). I know the market has been crazy over the past two years, so I'm not in the rush to buy right now, mainly just exploring and gathering ideas at this point. All inputs would be greatly appreciated. Here are a few lifestyle and financial factors that I have in mind: Tropical climate/sunbelt states: I hate living in the Northeast. Snow, gloomy weather, seasonal depression, exorbitant winter energy cost, shorter days, etc. Metropolitan area: I don't plan to live right in the downtown of a major city, but still want to have easy access (with 2-hour drive) to a somewhat major city Price-to-rent ratio: If the price to own a home is significantly higher than renting in the new city, then I plan t...

Facts: Fixed 30 years at 4.75% vs. 10/5 3/3/6 at 3.675% with a point By the 15th year you would have paid off more balance with the ARM than the fixed with just about the same total payment. The way I look at it, I’m betting that one of the three happens in the next 15 years: Refinance to a 15 or 20 fixed. Mortgage rates calm down to a mid/high 3 with enough savings to cover refinancing closing cost. Investment made with the savings (monthly payment difference between ARM and 4.75%) returns enough to refinance and/or recast Refinance with another ARM to buy time Move out At about 700k loan, the savings alone represent 45-50k at zero compounding int. You also would have paid off more of the loan. Thoughts? submitted by /u/eujenio8484 [link] [comments] source https://www.reddit.com/r/RealEstate/comments/ubg9vw/another_30_fixed_vs_arm_question_105_with_caps_336/

Hello I am about to go into escrow, I have credit unions offering me 2.85% on a 7 year ARM, all other lenders, including the highly recommended ones by savvy friends are offering a 5.25% on the same ARM. I would be saving almost 1000$ a month. What in the world? there is people paying that much over just because they do not know that Credit unions have amazing ARM rates? is this a norm? I am a fist time buyer, so I am just amazed how I almost paid 1000$ over, and how people are paying that much period. Please explain. I live in socal, great credit and putting 10% down on a 650,000 home. ​ TLDR: 7 year arm on a 2.85% from credit union and 5.25% from all non credit union lenders. How is this even fair? submitted by /u/cpgalvez [link] [comments] source https://www.reddit.com/r/RealEstate/comments/ubftin/credit_unions_are_offering_25_points_less_than/

How is this process usually done? My family lives in vancouver bc and we have received offers from developers but we’re not sure if it’s a good deal. We have one realtor that is representing 1-2 homes in the block (we haven’t signed one yet) and she said she can negotiate higher, like somewhere 650-700$ per sf but then we have another realtor telling us that $700 per sf is still rather low. We have no idea who to trust as these two hate each other’s guts. I don’t trust realtors in general so I would like to do my own research to get a better idea but I’m not sure if I’m even looking in the right direction. This whole thing is new to me, like what should I consider in my calculations? I don’t think the developers care about the value of my home as they will just tear it down. So should I just consider the value and size of my lot? I feel like there’s more and that MLS might not be a good comparison since most of them are sold as a single unit. submitted by /u/sackticklr [link] ...

Situation: Active duty Army officer, VA loan, deployed in Eastern Europe (thanks Putin) for another 2 months and I’ve had my offered accepted on a 2020 duplex 3bedroom 2 bath 1 garage each side about 2500 sqft total, concrete floors and passed inspection with a mortgage of 340k total monthly payments of 2600 using VA loan with no down payment and about 18-20k in cash for rainy day. It’s located an hour from Austin is good town but decent neighborhood outside major army base so not worried about demand. I already own a first 3 bedroom 2 bath SFH that a wonderful family has occupied while I’m deployed, hence I want to keep them and would rather purchase a new place and collect 250 in cash flow from this family. My intent is to occupy duplex for a year and rent out other two bedrooms for 500-600 a piece, and other side for 1200-1400 depending on demand. Then leaving duty station and renting both sides. My question is: I am locked in for a 5.2% interest rate causing the mortgage to be ...

Situation: Active duty Army officer deployed in Eastern Europe (thanks Putin) for another 2 months and I’ve had my offered accepted on a 2020 duplex 3bedroom 2 bath 1 garage each side about 2500 sqft total, concrete floors and passed inspection with a mortgage of 340k total monthly payments of 2600 using VA loan with no down payment and about 18-20k in cash for rainy day. It’s located an hour from Austin is good town but decent neighborhood outside major army base so not worried about demand. I already own a first 3 bedroom 2 bath SFH that a wonderful family has occupied while I’m deployed, hence I want to keep them and would rather purchase a new place and collect 250 in cash flow from this family. My intent is to occupy duplex for a year and rent out other two bedrooms for 500-600 a piece, and other side for 1200-1400 depending on demand. Then leaving duty station and renting both sides. My question is: I am locked in for a 5.2% interest rate causing the mortgage to be 2600 inste...

How much does everyone here know about this company? Their usual model is "lease with the right to purchase" when you find a home and have them buy it on your behalf (after they determine that it fits within their program and negotiate a purchase price with the seller). This is " a " path to home ownership, though the renter/buyer ends up paying more overall due to the required 3 year (Texas - my location) to 5 year (everywhere else) lease minimums before purchase eligibility. Here's our strange situation. We were looking for places to rent at the beginning of the pandemic and landed at the house we're in now. It's managed by Pathlight and I think at the time it was owned by another entity. Then we got a letter about a year ago saying the property had changed hands (to Home Partners) but that nothing would change on our end (and indeed nothing did). We have now been in the home for two years (just signed on for another year) and are really interested ...

This is probably a dumb question. My father wants to sell his home and downsize to a smaller home. He has a nice chunk of $ to put down on next home, but ideally he wants to sell his current home and use the proceeds to purchase his next home without getting a loan. What is the best way for him to list his house and time it so he can pay for the next one and be in the clear? Do we put something in his listing contract that states the sale of his home is contingent on him finding and buying another home? I feel that may sway buyers away from buying his home. I suppose he could just buy a home he likes, financing some of the purchase, and then list his home and when it sells use the $ to pay off his mortgage on the new house? Not sure what the protocol is here. He is 80 so I think he just wants a clean, quick transaction without involving banks. submitted by /u/Tyrrhen2Ionian [link] [comments] source https://www.reddit.com/r/RealEstate/comments/uaodyw/sell_a_home_need_a_home...

When we bought the house the seller left some furniture in the up stairs (with our permission). They were moving cross country and didn’t want to take it. Well we have no idea how the bedroom set got up the stairs. Our plan was to dismantle it upon moving and call it a day. Well, my friend decided to look for a makers mark and we found out it might be worth thousands of dollars (per piece). We don’t want this furniture and don’t want to handle the hassle of getting it out of there but at the same time it might be a gold mine. On to the real estate question. How weird would it be to get the furniture appraised and try to get the house buyer to buy it (at a steep discount of course). We haven’t listed yet. submitted by /u/LtCommanderCarter [link] [comments] source https://www.reddit.com/r/RealEstate/comments/uanuux/selling_house_not_sure_what_to_do_with_vintage/

I am sure I will have to pay well above list price and know that I need cash up front and may have to put an appraisal contingency in the offer. But yesterday my broker asked me to ask my well known lender what happens if the appraisal is less than the list price? What could possibly go wrong other than than dealing with the gap? Would it retrigger a new application in times of rising rates? Can I put a contingency in for a min appraisal value as well as a gap? submitted by /u/PoorInCT [link] [comments] source https://www.reddit.com/r/RealEstate/comments/ua2tug/mortagage_if_house_appraises_less_than_list_price/

My fiancé and I are looking to buy a house that needs renovating from the late 1950s. The house is all original and has never been touched. It is close to parents and in a location we love. However, our home inspector did bring up that there are asbestos tiles in the unfinished basement. He said this is because they are 9x9. The basement has a moisture problem, and the tiles are visibly damaged. Is this a deal breaker? If anyone has dealt with asbestos abatement and removal, how much did it cost? How likely is there is a possibility of asbestos elsewhere in the home? I love this house but this possible asbestos is the only thing holding me back! submitted by /u/hockeygal3140 [link] [comments] source https://www.reddit.com/r/RealEstate/comments/ua0rra/possible_asbestos_in_basement/

I am highly annoyed that my buyer agent keeps pushing his inspector guy and lawyer on me. When I first met my agent, he said he had a crew of vendors that typically help him close. Initially I was open to using his folks, but opted to use my own lawyer and search for my own inspector to compare prices. I never promised to take him up on his offer other than being my agent. I’m a FTHB, 20 something yr old woman—I think he’s assigned himself the “all-knowing uncle” role and continues to cut me off and speak over me as well. When I’m firm with him, his response is, “I feel like you don’t trust me”. I trusted him in the beginning but that has waned with his behavior. Has anybody else experienced this? (I met him through a co-worker who boasted an AMAZING experience with him—likely because she used his entire team) submitted by /u/Fit-Comedian6096 [link] [comments] source https://www.reddit.com/r/RealEstate/comments/ua0emc/my_buyer_agent_talks_over_me_and_wants_me_to_use/

This is the second time I’ve presented the forms to my clients, the have doubt about signing about any forms, they literally took 2 weeks to sign new build contract…what would you do? 2nd time presenting the forms to the clients, what would you do? submitted by /u/HTownRealtor [link] [comments] source https://www.reddit.com/r/RealEstate/comments/u9zz55/clients_dont_want_to_sign_affiliated_business/

So my dad and I signed a TWO year lease on a condo on April 13th, 2021. Today my landlord called my dad and told him that she is giving us a 60 day notice because she’s experiencing hardship and needs the condo back. Can she legally break the lease? It doesn’t say this anywhere in the lease paperwork. (CA) submitted by /u/hayleyy_johnson [link] [comments] source https://www.reddit.com/r/RealEstate/comments/u9zatz/landlord_giving_60_day_notice/

I live in Michigan and I just bought a two-story single-family home w/ basement. There is a main kitchen on the 1st floor, and the 2nd floor has one smaller bedroom and one larger bedroom. I want to turn the smaller bedroom into a kitchen space. The intention of making the 2nd kitchen is so that it can be used by the person living in the 2nd floor bedroom. I will get a proper permit from the city to do this work, but I want to make sure that I can keep this home as a single-family home and not to be considered as a multi-family home after the kitchen is added. I know every state & city has a different zoning ordinance, but just as a general rule of thumb, what would be a safer approach to take when I plan the kitchen layout and functions/installed appliances in order to avoid the risk of getting this home considered as a multi-family home by the city? FYI, I'll be working on this project on my own as an extension of the current remodelling project that I'm working on right...

I'm looking for a buyers agent and found NAEBA and a local member. Looks good on their website and most Google results. Homeopenly, however, calls NAEBA a massive kickback scheme . Is that someone that has a bone to pick or is it a real concern? Thanks. submitted by /u/Enhanced_Calm_Steve [link] [comments] source https://www.reddit.com/r/RealEstate/comments/u9dylh/is_naeba_legitimate/

Hey all, quick question. I’m in the process of developing the script for a short film, do landlords or real estate agencies ever allow people to rent a property out for like a week or two specifically for people to film in? I need a few scenes set in an apartment with my own props and such, but don’t live alone or in an apartment. Is it common for landlords or agencies to allow this? Thanks! submitted by /u/nigeribos [link] [comments] source https://www.reddit.com/r/RealEstate/comments/u9cza4/renting_property_out_for_filming/

I have to respond to an offer by 1pm today (6hrs), it is my first offer and was sent last night just a bit after the first showing. I am both excited and taking pause. Which I am probably stupid for doing but the situation raised a few questions. And I wanted to get some real input on it here. First of all obviously the market is heading towards stagnation. So at this point selling off a home is probably a good idea regardless. But my Realtor (a niece of a good friend) seemed not to be very familiar with my area. And I kind of got stuck due to my mom "knowing" this person. This situation is a bit different due to having the deed transferred to me by my grandmothers estate, and my mom has been involved and helpful with the house. So whatever at this point. But the Realtor came in and listed the home at 320k, with the reasoning that "we can let the buyers push up the price". This alone made me a bit anxious but I am not a realtor obviously. And I was curious if t...

submitted by /u/Master-Job4846 [link] [comments] source https://www.reddit.com/r/RealEstate/comments/u9avul/why_is_the_appraisal_value_of_a_house_different/

I'm selling my home and I don't think my realtor is doing a good job. I won't get into the details, let's just say their plan hasn't resulted in sale, even in a hot market where I'm located. If I change the realtor now, does it mean my home will be delisted and relisted under a different agent? Does it make the home less desirable in any way? Any advice is appreciated. submitted by /u/no_sh33p [link] [comments] source https://www.reddit.com/r/RealEstate/comments/u99eav/can_i_change_realtor_if_the_house_was_already/

I've read several posts from people who respond that agents should not get paid so much because they do such little work. Granted there are those exceptions where someone makes an offer on the first showing but I don't think people realize how much time is involved in showing homes to people who will potentially not even buy anything. I have an agent friend who showed approximately six properties to a family within a 3 week. And then decided to drop the person in favor of working with a distant family member who they found out was also an agent. What are your thoughts on agents getting a 3% commission? submitted by /u/Brucef310 [link] [comments] source https://www.reddit.com/r/RealEstate/comments/u98nki/i_think_people_who_complain_about_agents_making_a/

Locked my rate at 5.5% on conventional for 270 days. It went up from 3.75%. I’m curious if rates would go down by November. I’m also scared that I won’t afford the payments. submitted by /u/keanufire1 [link] [comments] source https://www.reddit.com/r/RealEstate/comments/u8hybt/just_locked_my_rate/

I watched some sort of documentary that discussed USA REALTORS, lobbyists, American commissions vs. other countries. It showed an example of someone trying to sell their own home and being unsuccessful because they didn't have an agent. It talked about how a buyer's agent has no incentive to get the buyer a better price. It also talked about lobbyists in DC. Does anyone know what this show may have been? It did not shed a positive light on the US Real Estate industry (specifically REALTORS) I've been racking my brain for days. submitted by /u/Jessalready [link] [comments] source https://www.reddit.com/r/RealEstate/comments/u82ky3/documentary_on_realtors/

I have been waiting for QC ( quality control) approval since Monday. How long does QC normally take to approve or deny a loan? Tia submitted by /u/Cruzody333 [link] [comments] source https://www.reddit.com/r/RealEstate/comments/u8hnqi/qc/

Just wanted to share my last two experiences with mortgage bankers/brokers. Five years ago, I was all pre-approved to buy a house and right before making the offer on a place we liked, I called to do one final check-in with my WF banker who I'd been working with the entire time. Everything was good and we made an offer, countered, and got the house. While she was processing the loan, she calls me up and tells me rates had gone up and my loan was now going to cost $250 more per month. I told her she was nuts and I was supposed to be locked in, but she insisted there was nothing she could do. I told her off over the phone (not my proudest moment) and called my realtor and told him to exercise the loan contingency - the deal's off. Since a good realtor is also a good psychologist, he talked me down and asked for her number (he didn't know her from Adam). 20 minutes later, she calls all apologetic and "Mr. Dgstan this, Mr. Dgstan that.... Oh, I wasn't aware you qual...

I am closing (seller) on my home May 2 which is a Monday. Escrow is saying they will do the mortgage payoff and include interest for April though May 2. I also have an HOA payment due May 2. I’m not sure how quickly these payments will be made at close so should I just pay them on my own? I am closing on a new home in a couple months and don’t want any affect to my credit (very unlikely but I’m crazy about making sure things are paid on time). submitted by /u/mephesta [link] [comments] source https://www.reddit.com/r/RealEstate/comments/u8gs4j/last_mortgage_payment_before_close/

My opendoor experience had been nothing but positive, convenient, and fast. Just to preface, I lived in maricopa county, Arizona so the market is super hot at the moment. July 12th we requested a preliminary offer, which we received on the same day. It was 345k-385k with the estimate being 365k Now, we were just hoping for a minimum of 280k so this looked great! We scheduled a video tour for the following week. Video tour- Wednesday at 9:30am: took 20 minutes. The first 10was just talking to the opendoor experience partner and answering their questions (do your appliances work? Have you received offers from other companies? When do you want to move? How much are you hoping for? Is this a smokers home, or do you have pets?). then the following 10minutes is the tour of the home. You start at the front door and walk through your home doing a slow 360 in each room. You do not need to show inside cabinets or closets but as we have walk in closets, we did. I'd recommend showing any wa...

submitted by /u/OceanvilleRoad [link] [comments] source https://www.reddit.com/r/RealEstate/comments/u7taql/am_i_obligated_to_sell_to_highest_offer/

Anyone else thinking how climate change (for those that believe it) will impact livability in CA? More heatwaves, much higher temperatures throughout the year, wild fires, mega droughts, etc. Not trying to bring in the already known factor of high home prices and property taxes, I'm wanting to know if CA is going to be sustainable for its current population, especially with the drought and no desalination system. We're considering moving back to the bay area in the future but fear the extreme conditions will make real estate in CA undesirable sooner than later. I don't think many people think that far ahead and a lot of residents are choosing turning the blind eye to these conditions. submitted by /u/koffees [link] [comments] source https://www.reddit.com/r/RealEstate/comments/u7qh45/real_estate_in_ca_and_global_warming_effects/

I “own” shares in a Brooklyn co-op with my mother. Both our names are on the lease. In the future, I plan for my domestic partner to move in with us. I wanted to know if the co-op board could bar or prevent this arrangement, as I know that many people have nightmare stories about them (mine happens to be extremely unresponsive, hence why I’m here). Per NYC’s Roommate Law, I understand that tenants are allowed “one roommate”—would this rule still be in place if BOTH my mother and I’s names are on the lease? The language is a little unclear: “Any lease or rental agreement for residential premises entered into by two or more tenants shall be construed to permit occupancy by tenants, immediate family of tenants, occupants and dependent children of occupants; provided that the total number of tenants and occupants, excluding occupants' dependent children, does not exceed the number of tenants specified in the current lease or rental agreement, and that at least one tenant or a tenan...

I'm gonna talk about the next game changer with the widespread implementation of futuristic cyberpunk style mega cities. Fully contained eco system's that would make the Burj Khalifa look like a shack where people will be able to functionally carry out their entire biosocial and work activities all in one area. The effects of this are unknown, but soon we will know their towering presence in our skylines. submitted by /u/Yamatro [link] [comments] source https://www.reddit.com/r/RealEstate/comments/u7qpud/the_one_thing_no_one_is_talking_about_when_it/

>20% down payment on a 30-year fixed with decent LTV. At time of rate lock, told loan officer verbally that we would like to pay property taxes and homeowners insurance separately, i.e., not to be put in escrow. At closing, we see that we are "pre-paying" 1 full year in advance for property taxes and insurance as it has been added to the costs. Spouse and I assume that this is means our taxes and insurance is taken care of until 2023. We thought this was the only form of payment required during this time and that they would not put into escrow. We assumed we would only be paying principal and interest. However, our bill comes and we see that this never happened as the 1st monthly installment is higher than anticipated. Guess we misunderstood big time. Our fault for not paying more detailed attention to closing disclosures and at signing. This was our third house (not a good excuse, we know :() so we assumed the intentions of the loan officer and quickly brushed through...

Un agente inmobiliario es más que una persona que vende casas. La competencia entre agentes es muy grande y es necesario ser conocido para obtener clientes potenciales a través de internet y las relaciones en persona. Todo agente tiene que tener conocimiento en las áreas del mercado inmobiliario, marketing, tecnología, asuntos bancarios, atención al cliente y asuntos legales. Los mejores agentes tienen conexiones con otros profesionales en diferentes industrias relacionadas al sector inmobiliario, como tasadores, inspectores, paisajistas y contratistas. Debido a esto, los agentes inmobiliarios saben quién podría ser su mejor opción para sus necesidades y pueden ponerlo en contacto con el contacto adecuado. Los agentes inmobiliarios comprenden el mercado y las tendencias actuales, incluidos los precios de las propiedades y la comunidad. Esta información puede ayudarlo a tomar las decisiones correctas sin una investigación exhaustiva de su parte. Cómo brindan atención al clie...

For example paying a huge amount of money to rent a small apartment in a crime filled neighborhood in New York or Boston that 30 years ago was considered dirt cheap and affordable Or as another example My uncle bought a house in Northern California suburbs that has 3 stories and came with a swimming pool for 600 thousand dollars, thing is a damn near mini mansion and it came with a swimming pool for fucks sakes. But people are paying millions of dollars to live in tiny condos in downtown San Francisco or New York Long time ago it was the suburbs that were known for being expensive, cities were mostly working class minus a couple ultra rich neighborhoods which is fine and good nothing hard to understand there. What I’m having trouble getting is 1. The poor crime ridden neighborhoods still being pricey 2. People paying a million dollars for one floor condos and there being cheaper mini mansions that come with nice amenities like pools submitted by /u/menaceman42 [link] [comm...

I had this project going on and I need like an opinion from you guys and my English is bad sorry about that. ​ For you guys as a Real estate agent etc... What's forclosure for you? Amortization Equity and Difference between property deed and title ​ Thank for answering. I love you all. God bless you! submitted by /u/Mayuuuuuuu [link] [comments] source https://www.reddit.com/r/RealEstate/comments/u71e4h/quick_question_for_my_project_about_real_estate/

All applications ask for credit score, total income, etc. I have a minimum wage job. I have no current credit score because I had barely obtained my SS card and some legal documents. But my parents help cover my housing costs I am also confused about applying on Zillow. Do I apply through my parents account or my own account? Stressed submitted by /u/kevaux [link] [comments] source https://www.reddit.com/r/RealEstate/comments/u70zhv/explain_to_me_like_im_5_please_if_i_am_a_college/