Trying to get a rate locked for 6 months or so. Any lender allows you to do that without signing a contract for a property first ? Please name a few. NY - DC area submitted by /u/icehair [link] [comments] source https://www.reddit.com/r/RealEstate/comments/vo5u22/any_lenders_allow_rate_lock_without_property_in/

We may have just participated in the last “hot” housing transaction in this crazy US real estate market before it started cooling down, at least in our region (Midwest). Long story short, we made an offer on Saturday (June 26), the day the home first hit the market. The next day, late evening, the sellers sent over a counter offer that we were mulling over on Monday. As we were about to respond the counter offer (and accept), our realtor informed us that the sellers went with another offer. First, is that legal? What’s our recourse? EDIT: fixed typos. submitted by /u/spicysubu [link] [comments] source https://www.reddit.com/r/RealEstate/comments/vo5qk9/sellers_signed_two_different_buyers_offers/

My wife’s family sold a small house in 1995 for $195k (low even for back then) it is now valued at about $464k but is NOT for sale. After her parents sold it the same people have lived there since 1995. I doubt they’re going to be too anxious to leave but really I have no idea. We can afford it but I don’t want to get her hopes up if it’s not possible Any insight or advice? submitted by /u/Famous-Criticism-806 [link] [comments] source https://www.reddit.com/r/RealEstate/comments/vo4zlq/how_realistic_is_it_to_try_and_buy_my_wifes/

First time buyer here and we finally went under contract today for an amazing home! 🙏 We are out of state so we have only seen it virtually, but I plan on flying there to see it in person before due diligence is over. Now that we are under contract, I feel more comfortable asking these questions that are kind of.. moot points, if you will? Meaning, the answers to these questions wouldn't have affected our offer or change our desire to get the house.. but answers that I'd like to know. However I'm not sure if these are normal questions to ask or simply unnecessary/annoying. Any thoughts? Status on HVAC, water heater? When was the roof installed? Are windows original or updated? How old is the carpet? Is plumbing, electrical, all original? What type of trees are in the backyard? When was the sliding back door installed? How old are the appliances? (Kitchen appliances + washer dryer) Do you remember what the style of tile flooring is called? (In case we want to ke...

I’m in Texas and purchased a new construction townhome in a great, up and coming neighborhood. My place should be completed and ready for move-in in two months from now. I noticed a major building being built on the cross street (about 4 or 5 houses away and across a road from me). I searched the building permits and found it will be a new middle school, slated to open in Fall ‘23. Experts, what will this do to the value of my home? I expect all property to appreciate aggressively in the neighborhood I’m in, but was unsure of how being this close to a school would affect me in particular. Crime and safety ratings are terrific in this neighborhood and other local schools are rated high as well. submitted by /u/jthistle02 [link] [comments] source https://www.reddit.com/r/RealEstate/comments/vo2tte/what_does_a_newly_constructed_middle_school_do_to/

First time homebuyer. Working with a new insurance broker and have some questions. Background info: List price: $339k Sale price: $362k Appraisal value: $363k Loan amount: $344k The insurance broker gave me two different quotes: "As per our conversation, please see the attached quotes. I did a quote at replacement value, and a second on at the purchase price of the home." Quote 1 ($77 / month) Dwelling coverage: $340k Other structures: $34k Personal property: $170k Additional living expenses: $68k Personal liability/medical payments: $300k/$1k Quote 2 ($ 80 / month) Dwelling coverage: $363k Other structures: $36.3k Personal property: $181.5k Additional living expenses: $72.6k Personal liability/medical payments: $300k/$1k This was from an email from my mortgage broker to insurance broker today: "Please provide a dec page w/coverage up to the loan amount or evidence of full replacement value." Which quote should I go with and why? Why is t...

This is mostly a hypothetical question that I'm curious about. I'm curious about what a homeowner's options are when a property becomes effectively worthless. For example there are some condos in certain major cities with very low purchase prices (<$50k) but are saddled with thousands in monthly assessments, usually a combination of high HOA fees for older buildings along with a slew of special assessments. This situation is rare but does exist. At a certain point it's conceivable that the maintenance costs might exceed the unit's rentable value, making it effectively worthless. Or, if thinking into the distant future, properties may become worthless due to some western/southwestern cities losing most of their fresh water supply (I know that's probably extremely unlikely). If the property has a mortgage, then obviously it will go to the bank if the owner abandons it. If there is no mortgage and property taxes are unpaid, the home may go to the taxing aut...

Tell me the truth: is this sustainable? The alarm should have sounded a long time ago. Where were the "experts"? submitted by /u/Almdrs [link] [comments] source https://www.reddit.com/r/RealEstate/comments/vnconz/only_8_of_households_can_afford_a_home_in_broward/

Genuinely devastated at this situation, I was so excited and proud to have my very first apartment without roommates... but it literally went up in flames. Details about the rental - it is a basement apartment, there are two exits but one stays locked at all times (being the exit to the main house), the apartment has its own entryway. There is no thermostat to control the temperature all of the windows are your typical teeny tiny basement windows. One in each room, only a small cat could climb out of these if required a real estate agent signed off on this rental. I have an official signed lease for 12 months, I paid a security deposit & first months rent. I had no reason to believe this was an illegal rental, it all seemed up to snuff to me considering that there was an agent from a legitimate company and the landlords signed on everything as well Also to note - post fire the landlords removed the oven from my kitchen (the apartment is uninhabitable due to the fire, but ...

We had an offer agreed on a place (no contract) but we lost it because we had a terrible agent. Now we have another bite at the cherry because the apartment appraised too low and the buyer pulled out. The seller's agent got in touch with us and is asking if we want to make another offer with her as the dual agent. I'm a little skeptical about this so wanted to get other people's thoughts? submitted by /u/weirdo76 [link] [comments] source https://www.reddit.com/r/RealEstate/comments/vn90m8/what_are_peoples_experiences_of_dual_agents_in_ny/

We are building a home and have a question about what income can be used to qualify for the home. I work a w2 so that’s an easy yes. I also run a side business that has grown well over the past year, my spouse works for it and is my only employee. I technically am the only “owner” of the biz and so my spouse is on paper just like any employee. Is the income I pay my spouse able to be added to the qualifying income? They are w2’d through the business just like another employee. Do I need to disclose that I own the business. For more detail, this side biz is 3 years old but hasn’t really seen any significant revenue until the past year. Thanks in advance for your insights! submitted by /u/Square-Group-4917 [link] [comments] source https://www.reddit.com/r/RealEstate/comments/vn8pok/mortgage_question/

Hi. I don’t know if this is the right place to ask, but I am going to try anyways. Long story short I have bad credit because of some stupid decisions of the past and I am working to pay off existing debts. Meanwhile, my wife has a better credit than me. We are thinking of applying for a mortgage using her credit score since she is almost debt free and I am not. Can I be as a backup person meaning I am not directly applying myself, but I have a job and therefore I am also going to be helping with the mortgage or how does that work? Is my bad credit going to hurt us more than helping us? Should we do it only with her income and credit score? Thanks! submitted by /u/harold1226 [link] [comments] source https://www.reddit.com/r/RealEstate/comments/vn8f95/credit_scores/

Which do you agree or disagree with? Which annoy you the most? I have numbered them for easier reference in comments. Please feel free to add to the list, and I will do an edit update. Please upvote so we can get some healthy debate and clarity on these points. If you disagree, then upvote so others will see and debunk this debunking. ​ Myth 1: Rising use of ARMs means crash in house prices Reality: 2008'ers celebrate this as a sign of a bubble, but they ignore the fact that this increases buying power and may actually result in stronger demand for several few more years, extending the bubble. ​ Myth 2: Realtor companies laying off employees means market crash Reality: Redfin is a realtor. There is very little supply. Bad for realtors. Fewer sales means no commission. Redfin can go bankrupt and this has nothing to do with the price of homes, which appear to still be near record highs. ​ Myth 3: Mortgage companies laying off means the housing market has crashed Reality: Th...

Ok found a house that was renovated and on the market. Everything looked good however after doing some basic deed and record searches there is an ongoing lawsuit against the former seller. The seller who owns the house never disclosed it and some stories do not add up. Sounds like I need to run as far away from this one. If not why would you buy it. The price is not cheap either. submitted by /u/tiger1873 [link] [comments] source https://www.reddit.com/r/RealEstate/comments/vmlfzo/seller_is_suing_for_non_disclosure_to_former/

Hello. I am considering renting out my place. How do I go about finding a good property manager? What things should I look for? TIA. submitted by /u/taway10232021 [link] [comments] source https://www.reddit.com/r/RealEstate/comments/vmkh2w/how_to_choose_a_property_manager/

I'm noticing condos are seeming a lot less expensive than single family or duplexes. Overall my first home purchase ik won't be long term thing. I just want to own something and eventually move out and either airbnb it or rent. Also take advantage or using appreciation and or building equity to use that later down the line for another investment. submitted by /u/dreamchasers_99 [link] [comments] source https://www.reddit.com/r/RealEstate/comments/vmhwmt/is_a_condo_a_good_investment_to_get_started/

I take my real estate exam Thursday what’s the most important subjects to study to pass ? submitted by /u/Left_Ad_4431 [link] [comments] source https://www.reddit.com/r/RealEstate/comments/vmfwsl/real_estate_exam/

How could you become a real estate agent and What courses could you do to get a beter chance of an interview to start as a real estate agent submitted by /u/Fit-Rate-2973 [link] [comments] source https://www.reddit.com/r/RealEstate/comments/vlwjpu/curious/

Hi, My partner and I have put in a full offer for a rental. The real estate agent for the owner said it had to be a full offer as they won't consider anything less. We put in offer in the day we viewed it. They didn't accept our offer yet and the unit is still listed for rent (it has been on the market for over a week at a reduced price). My realtor said the most likely reason they haven't accepted yet is because the selling agent is looking to bring a renter of his own so he gets the full commission. Is this something that occurs often? I really liked the property which is why we offered full price. submitted by /u/Thegreenestadam [link] [comments] source https://www.reddit.com/r/RealEstate/comments/vlwfir/question_regarding_rental_offer_not_being_accepted/

I’ve been hearing that the Fed will begin a major sell off of MBS as part of its QT strategy and that this will have major ramifications for the housing market, particularly interest rates. I can’t find any solid intel on this and media coverage seems nonexistent. Can anyone confirm/explain a little more about what to expect? submitted by /u/TR_Maj [link] [comments] source https://www.reddit.com/r/RealEstate/comments/vlwctk/fed_selling_mbs/

I went on a listing appointment the other day and I invited a colleague with to be a fly on the wall. (I never got the opportunity to hear someone else's listing presentation.) We walk thru the house and I gave some staging and cosmetic repair suggestions. After words we spoke about it and both thought it went really well! (Short story) The next morning I got an email from the seller who was upset. She said when I bought the house with you, your spouse was the listing agent and you never pointed any of these things out and were going to explore their options(new agent and legal) I'm like, holy crap! I was working at the company I owned with my spouse and we had sold it. Thoughts going thru my mind. Is my E and O gap insurance still valid? Does the company who bought our business still have the files? Did I have my cloud back up at the time of this transaction? I called my spouse and shared the email I had received, we both began working on the research to formulate the re...

My husband and I are getting ready to list our house. It’s in a pretty hot area, and the neighbors have been asking for a few years to let them know if we ever decide to sell, because their daughter would want to buy it. The time has come, but our realtor says he has a potential buyer, and that would be the first person to get a showing. I have given the neighbor the information for my realtor, but I want to make sure he actually lists the house online. I’m afraid that he will only let his buyer know, and aside from the sign in the yard we won’t get more advertising for it. How do I prevent this from happening? Should I ask him to let me know when it is on the website to “let my friends that are interested know”? Is there a way to approach this with him to let him know that we want to make as much as we can on this, I know it benefits him greatly to be the realtor for both parties, but I also want to look out for my family. Any and all advice is greatly appreciated! submitted by ...

https://identity-mag.com/elly-mayishteri-yetfarag-addresses-sexual-harassment-and-overly-suspicious-husbands/#comment-5899810658 submitted by /u/Ok-Friendship-6596 [link] [comments] source https://www.reddit.com/r/RealEstate/comments/vlslsf/شقق_فى_اكتوبر_بالتقسيط_لاندمارك_للتطوير_العقاري/

We put in an offer tonight to buy a home and their review time is tomorrow.. In the event that our offer is accepted, I am having second thoughts about our lender. I wish I had shopped around more.. This lender is the recommendation of our agent so communication between them is good, but she quoted us at 6.1%. Just from a quick search that feels high. She also has underwriting and administration "fees". She's somewhat responsive and I have no doubt our loan will go through with her, but I feel like we could save a hefty amount of money going with a different lender. Only problem is in our contract she had put 21 day closing. If we attempt to switch lenders, I'm thinking we won't make that timeline. Is this something that could possibly be renegotiated? Will switching lenders look bad? TLDR: Having second thoughts about the lender we picked. After an accepted offer, can the closing date be renegotiated in order to account for time to switch lenders? submitted...

MS legalized medical cannabis and I was approached by a realtor who wants to help lease my building to an individual who wants to get a license as a processing facility for medical cannabis. Any owner of a building leasing to an authorized individual (legal only, lol) have suggestions or any insight with this? Will app I will reach out to an attorney for legal advice to draw up the contract to start out with. submitted by /u/ptv2547 [link] [comments] source https://www.reddit.com/r/RealEstate/comments/vlol3a/question/

If I wanted to know what a home sold for online, can I find that out? Beside asking the realtor, lol. This would be in the Austin area, thank you for the suggestions. submitted by /u/ptv2547 [link] [comments] source https://www.reddit.com/r/RealEstate/comments/vl1xiz/home_sold_for/

What would be the most effective strategy for purchasing a house with siblings? submitted by /u/01Cloud01 [link] [comments] source https://www.reddit.com/r/RealEstate/comments/vl0x11/purchasing_house_with_siblings/

I was born in 1997, so turned 25 this year. Graduated college in 2020. I'm currently making around $150k but even then if I save a good half of my takehome it feels like the real estate market is inevitably going to outrun me. I have my eye on a city where the average price is ~$300k at the moment and I'm losing sleep that by the time I save up $60k for a down payment (I plan to take 2 years saving up) the market there will have left me behind. Is anyone else in the spot where they just feel like they made a mistake with how late they were born and they wish they could go back in time and ask their parents to conceive them earlier? submitted by /u/kander_santana [link] [comments] source https://www.reddit.com/r/RealEstate/comments/vl036d/did_i_screw_up_with_being_born_too_late/

submitted by /u/Stockbarron [link] [comments] source https://www.reddit.com/r/RealEstate/comments/vkz0x9/hey_im_looking_to_talk_to_so_e_people_who_are/

I’ve searched and searched. To qualify, I just need 6 months of work according to results I’ve found. I’m a W2 contractor that has hit 6 months. My lender continues to insist FHA requires me to also prove I am “contract to hire”. I initially told them this was the case as I was describing my job but now she’s asking for proof, in a condescending tone. I provided her with the proof so now every communication is “how’s the job” or if I’m “still at the job”. This is her way of asking if I’ve been let go yet. Obviously if I was not employed, I’d let her know by now. It’s a bit of a snub each time. This is because, according to her, I’m required to be hired in or “full time” in order to qualify for an FHA loan according to FHA Guidelines. I do not see this information anywhere when I research FHA loan guidelines. The results require m 6 months of employment and when I was pre-approved, I was given the green light with another officer there before being passed on to her. Any advice? Am...

We move next month and I am trying to come up with a list of things that I’ll need but probably forget about (like a sprinkler - which I’ve never needed before). Any tips? submitted by /u/Waltgrace83 [link] [comments] source https://www.reddit.com/r/RealEstate/comments/vkdcoe/moving_from_a_1br_duplex_to_a_3br_house_first/

I own a home in Denver, CO and will be listing for sale in the next couple of months. 3 bed / 2 bath ~1600 sq ft 2 car garage, large backyard 10 year old carpet in living areas, hardwood in bedrooms, linoleum in kitchen and bathrooms hasn’t been painted in 10 years, interior or exterior roof: 7 years old, water heater 15 years old Expected sell price: 475 to 525 (official comps being pulled by realtor now) Denver is a hot market but as we know things are slowly starting to cool down now. Question: what, if anything, should I update before selling to at least make my money back in a market like Denver? Here’s what I’m thinking: 1) paint interior only. Guessing this will run around $4k 2) replace carpet & linoleum with LVP for a seamless look in living area and kitchen, but leave linoleum in bathrooms. I would estimate this costs $10k 3) replace water heater for around $700 TOTAL: $14,700 - what would you change in my position? submitted by /u/marmismitrem [link] ...

submitted by /u/aq-r-steppedinsome [link] [comments] source https://www.reddit.com/r/RealEstate/comments/vk99ql/seen_many_posts_on_selling_on_opendoor_who_has/

First time home buyers in Boston. Got a house and the original lender gave us 6.375% while other lenders were offering ~5.5%, so we changed the lender to my partners-in-law’s friend. We specifically told him that we are looking for a lower rate with NO POINT! Checked our background on Sunday, and told us that he can land us in 5.125%-5.5% with NO POINTS! Sent out an email on Monday telling us the plan is to go with 5.125%, and called our buyer agent that we were locked on Sunday. Finally got the loan estimate on Thursday, and it shows “5.5% with one point” locked on Sunday…. One point is equal to around $6000, and at this point we don’t have other options because a) rate of other lenders all went up to 6% and b) we are looking for a 30 day close, so there is not enough time to start from 0 with another lender. Basically if we don’t sign the document, then we will lose the house and potentially the earnest money… He assured us that he will get some discount and even wrote this in th...

I don't know how to feel about this. Well... i can't help but feel guilty and looking for validation or anyone been through the same thing... The real estate agent who sold me my unit is someone I know through a family member and I think he looked after us in making sure I got the unit. However he looks after huge developments now and I had kinda lost touch. For the sale, I ended up going with someone who my mum had used and she ended up getting an amazing sale like the unit earned more than 100K over what I had paid 2 years ago. I then got a kinda snarky message from the agent who had sold it to me saying "you owe me big" in a jokey kinda way and then said congrats bla bla. I said look sorry I didn't use you I didn't think you'd be interested in small fry units now and should I consider you in the future? No reply. Should I feel bad? Like I do feel bad either way.. has anyone experienced this sort of thing? I know the guy from way back but we're...

submitted by /u/Holygrail1985 [link] [comments] source https://www.reddit.com/r/RealEstate/comments/vk8o4f/land_due_diligence_already_perc_and_survey/

We are taking off my property since it didn’t sell. The agent sent me an invoice for the staging fee. I have never signed a contract for this. There are some rules on it which had never been communicated to me before, I did agree on the price. Are these rules applies to me? Is this the right way to do things? submitted by /u/IllustriousBid3239 [link] [comments] source https://www.reddit.com/r/RealEstate/comments/vjjfya/selling_agent_and_stager_requested_money_without/

Lincoln, 16, offered to purchase his adult aunt’s condo. The two parties signed a sales agreement. Lincoln's aunt knew he had money in a trust and could likely get access to it through his parents. When his parents learned of the transaction, however, they refused to grant Lincoln that access. Lincoln’s aunt cannot sue Lincoln or his parents to enforce the terms of the contract. However, if Lincoln could have accessed the funds, his aunt couldn’t terminate the contract based on Lincoln’s minority status. If a minor entering a contract is voidable, how would this work in the case that his parents DID give him access? a minor can't buy real estate either so? would the whole thing just not even be possible? or would the contract be on hold until he's of age? submitted by /u/krn_01 [link] [comments] source https://www.reddit.com/r/RealEstate/comments/vjim2d/studying_for_real_estate_exam_i_dont_understand/

I own a house in a small town. The house is in good shape. It could use some sprucing up and the like, paint, cleaning, a few simple repairs. I have checked the listings on it and it is listed at $87,900 to 93,700. The area is currently growing as a new company is coming into the county. Another company is interested in the house, they want it for out of town visitors/business persons to have a place for extended stays. They have made me an offer of $75,000. The gentleman that I have been speaking to about it has said that this is their one and only offer. He has also said that the repairs to the house would be too much for them to put anymore than this offer into it. He is considering more than just some sprucing up. They want to gut the place and start over. I feel like any extravagant replacements/repairs are on them. I really want to sell, but would I be a fool to accept 75 K? They will pay cash and all of the closing costs. Or should I see if their final offer is not so final and...

submitted by /u/shikisenri2994 [link] [comments] source https://www.reddit.com/r/RealEstate/comments/vji7f1/help_should_i_get_a_job_in_real_estate_what_are/

When I got my pre approval for my loan it said my rate was 4.85%. This was in March. My pre approval is good until August. Does that mean I am locked into that 4.85% rate until August? submitted by /u/foofighter1999 [link] [comments] source https://www.reddit.com/r/RealEstate/comments/vji199/question_about_pre_approval_and_interest_rate/

My parents are purchasing a second home. I’m in my twenties, still living with my parents. Should my parents have my name on the new home alongside their names or leave me out entirely? Concerns being: would I still be able to benefit from first time homebuyer benefits in the future? My parents initially had my name on the house with them because they wanted to avoid paying taxes in the future, should they transfer the home to me as the owner. So which would be better? Leave my name out entirely or have my name on there with them? Sorry for not knowing specific real estate jargon! Thanks in advance! Additional info: - My parents already got their conditional loan approved. - We’re in Texas. submitted by /u/timelesstiger8 [link] [comments] source https://www.reddit.com/r/RealEstate/comments/vjhvew/whats_more_beneficial/

My husband and I are supposed to close on a house tomorrow. We used a VA loan and we received a conditional approval, meaning we had to submit some extra documents. Generally, it could have been a lot worse. They did want employment verification from every place I ever worked, but this is how the government bureaucracy functions normally. Today, we got the final approval - two days ago we signed the closing documents, then we got to the final stage where we are supposed to sign the papers at the escrow company. But I texted the mortgage officer because we were supposed to have a phone call to schedule the signing early tomorrow morning. She told me that she was trying to find a handy man to do a quick estimate on costs to repair some damaged siding because the underwriter saw the photo and said the repair needed to be done before close. I’m kind of puzzled by this and it’s super inconvenient because we had scheduled time off work and rented a moving truck. Does anyone know why this ...

I'm currently working with a property tax protesting service called Ownwell, and received a peculiar request from them to send over a copy of the closing document. They told me that they need it because my property was recently purchased, and they need the signature page of my Closing Documents (with the purchase price and signature) to complete my protest. I'm a FTHB, and have no idea if it's okay to send the document to them OR the request itself is reasonable or not. I really appreciate any advice. submitted by /u/stiff_neck_remedy [link] [comments] source https://www.reddit.com/r/RealEstate/comments/viwbza/should_i_send_a_copy_of_the_closing_document_for/

With all the shitstorm going around, what do you expect to happen in next 5 yrs and 10yrs do anyone know what happened on tha last real estate crash? What happened to the home owners Homeowner since 2022😑 submitted by /u/amar_smash [link] [comments] source https://www.reddit.com/r/RealEstate/comments/vivqb7/what_happens_in_next_5_years/

Hello I just have a question about my situation. I close on my first house the 28th. I love everything about it, it’s what I want etc. however on the flip side. I’m extremely close with my parents and they just told me they are thinking about moving (to the beach). Before I got this house (which is close to where they live now) I was contemplating moving to the beach. I was just curious on what options look like. If I want to move say in a year or 2 how does this work. Am I basically just down a lot of money? If I want to move to the beach also soonish what is the best course of action? submitted by /u/Fibsss [link] [comments] source https://www.reddit.com/r/RealEstate/comments/vivk3r/closing_on_house_the_28th/

$5k in closing costs and $1.5k in prepaids. The cash out refinance amount is $75k at 5.9% interest rate. This is for a tenant-occupied investment property. Does this seem reasonable? Closing costs seem excessive to me, should I mandate the lender to sweeten the deal or I’ll drop her? submitted by /u/DeafSwimBikeRun [link] [comments] source https://www.reddit.com/r/RealEstate/comments/vivbz8/5k_closing_costs_for_cash_out_refinance/

I found 2 apartment owners selling at 67.32% and 70.71% of their original purchase price. They paid the unit with monthly installment. I offered the units at 7% premium compared to my projection of the asset value if the effect from the recession is similar to the 2008 crash. I use RPPI from the Central Bank between 2008 and 2009. I also use Case-Shiller U.S. National Home Price Index between July 2006 and Feb 2012 (I don't trust the RPPI, the market recovered within 1 year while the U.S. need 6 years). Therefore, I am prepared to hold this unit for at least 6 years to break even (not counting opportunity loss et cetera). submitted by /u/kidfromtheast [link] [comments] source https://www.reddit.com/r/RealEstate/comments/viv9af/should_i_buy_an_apartment_with_814_pricetorent/

I was over here patting myself on the back for selling just before the market cooled off, but now I find myself re-listing for 5k less than I originally listed in a market being killed by interest rates. Not to mention we are currently packing the house up and it's in no way, shape, or form fit to be seen. At least we get to keep the EM, but 5k is small consolation considering it's already spent on a 3 month apartment contract that I'm stuck with regardless. submitted by /u/Mordoci [link] [comments] source https://www.reddit.com/r/RealEstate/comments/vir5x3/buyer_backed_out_5_days_before_closing_what_a/

Can I hire a appraiser to reappraise my house? If I have a 78% LTV I can be rid of my PMI. Has anyone done this before? Will the bank allow it? submitted by /u/Imagination_Green [link] [comments] source https://www.reddit.com/r/RealEstate/comments/vi4e3a/can_i_get_my_house_reappraised_to_get_rid_of_pmi/

We have a few quotes to put mini-split units in - just curious if that would be something we should have installed prior to selling. submitted by /u/sjschlag [link] [comments] source https://www.reddit.com/r/RealEstate/comments/vi2pz7/bought_a_fixer_upper_last_year_with_no_central_ac/

My co-worker with ok credit 745 just told me their mortgage payment will be over $2,400 a month for a home purchase price of $305,000. 100% financing on a VA loan. He could rent in the area for far less. With utilities it will be around $3,000 per month. This is rural NC in an area with 2 out of 10 schools. I don’t see the point. submitted by /u/Altrarunner [link] [comments] source https://www.reddit.com/r/RealEstate/comments/vi2l9z/3000m_for_300000_home/

We just moved into a new build and no mail is coming. It appears that the builder did not register our address with USPS. How do I correct this so I can mail and deliveries from FedEx and UPS? submitted by /u/HedgehogHumble [link] [comments] source https://www.reddit.com/r/RealEstate/comments/vi2a96/new_build_register_with_usps/

Relocating to a new county after my wife took a new job, and we're having a hard time getting our offers accepted. We're placing offers within 48 hours of the homes hitting the MLS, and usually competing with 5-10 other offers. We're doing a conventional loan with 20% down, not asking for credit back towards closing costs or down payment, and including escalation clauses up to what we think the home would appraise for, but we keep losing out. What else can we do to make our offer more attractive to sellers? submitted by /u/Discovensco [link] [comments] source https://www.reddit.com/r/RealEstate/comments/vhztdu/buying_in_a_hot_market_tips_for_a_winning_offer/

1.) how far in advance of the closing date can a builder order for the appraisal to be done? 2.) can i order a second appraisal to be done by someone other than the builders preferred lender? if so, can the second appraisal be done one week before closing? submitted by /u/bumble_bee21fb [link] [comments] source https://www.reddit.com/r/RealEstate/comments/vi03i6/anyone_have_a_second_appraisal_done_on_new/

South Florida homebuyer here; I need some help. I was about to close on a condo when my attorney discovered open building permits from almost 20 years ago on the unit. Looks like a small section of the floor was retiled and it was never inspected. It seems it will cost a few hundred dollars to get the necessary paperwork done. However, the seller is offering me a few grand to proceed with the closing and close the permit myself. My attorney seems non-plussed about it, but I have reservations. I suspect whatever was done was not to code, and the seller is trying to buy himself out of the headache. Will the city/HOA give me grief/fine me if I don't resolve the permit immediately upon purchase? The unit is coming with a tenant delivered, and I don't want to have it be a problem to coordinate moving him out if the floor fails the inspection and needs to be re-done. Asking here because attorney didn't seem to think it would be an issue but I feel like I've heard horror st...

To start, my dad is my realtor. He has our best interests at heart and just wants what will make us happy so Im looking for some outside perspective on a situation. My wife and I are trying to buy our first home. I have a little knowledge I've sapped off my dad from helping him flip houses but we're pretty fresh to it nonetheless. We looked at a good few houses and were surprised to find a home in a neighborhood that couldn't be much more perfect that seemed to check all our boxes. It is a flipped house but my dad and I have done that ourselves several times so it's not a huge red flag for us. So we put an offer in and struck a deal that we'd do no inspection to get us the house at about 10k under asking price. We were pretty happy with price it's actually a little below our max budget, especially after the reduction. However, now that we've seen it a few more times, weve noticed things and the seller is refusing to do them. Most notably are two things: t...

It’s worth mentioning I do not have a green card, I plan to live there in the near future so I thought I’d get a head start on payments. submitted by /u/CocaineInHerAsshole [link] [comments] source https://www.reddit.com/r/RealEstate/comments/vhbjvq/could_i_mortgage_a_property_in_the_us_when_i_live/

Hi, guys! Do you know anyone who has fun and very unique real estate websites or landing pages? Something that's not boring, and differs from basic website? Would love to see them submitted by /u/Huge-Agent-5703 [link] [comments] source https://www.reddit.com/r/RealEstate/comments/vhbepn/real_estate_website/

TL;DR 170k Salary Under contract on a home worth 319k (new construction) in South Carolina Putting 10% down Mortgage w/ PITI is about 2k and some change. Rate is 5.375. 30 year conventional. Seems like people are talking about waiting for prices to drop. I am very comfortable affording this at my salary, but all this talk about prices dropping and stuff is making me second guess. submitted by /u/ImmunogenicError [link] [comments] source https://www.reddit.com/r/RealEstate/comments/vhbbbi/should_i_just_wait/

My wife’s agent refused to write any lower offers. He’s in denial about what’s happening, so I fired him. I’d suggest you all do the same. All the properties we considered are still on the market with no offers of course. submitted by /u/Altrarunner [link] [comments] source https://www.reddit.com/r/RealEstate/comments/vh9okx/fired_agent/

It seems like the US concept of what a starter home is has changed significantly. I'm curious what your thoughts are. Starter homes in my area historically have been detached sfr's, 1000sf or less, 2 bedrooms, 1 bath, several decades old, outdated and usually not located near your top choices location-wise. You would be lucky to get one with a garage or without needing some serious improvements. But it definitely would be livable. Even in this crazy market we've had the past few years there are still plenty of this type of tradional starter home available at starter home prices. What do you think of as a starter home and are these available in your area? submitted by /u/ilovebeagles123 [link] [comments] source https://www.reddit.com/r/RealEstate/comments/vh9y25/what_is_your_definition_of_s_starter_home/

Zillow has land for sale, but it is unclear what it is zoned for. Is there a service I can use to find land that has been zoned for farming? submitted by /u/lildaemon [link] [comments] source https://www.reddit.com/r/RealEstate/comments/vh72vr/any_recommendations_on_where_i_can_go_to_find/

$1650 850sq ft 1 bedroom apt with garage parking included in Hyde park Chicago Or $1500 700sq ft 1 bed room apt with permit outdoor parking in McCormick Place Chicago submitted by /u/Homogenous1 [link] [comments] source https://www.reddit.com/r/RealEstate/comments/vgoat5/assuming_every_other_thing_being_equal_which_is_a/

Information: $180k pretax $7000 take home per month after taxes, health insurance, ESPP, etc. We each put about 13% in our 401k and I put 10% after tax into my companies ESPP. Other assets: We have about $60k in our savings accounts that we don’t touch. About $150k in our individual stock investment account (even after the stock bloodbath) as well as about 12k in a Roth IRA and about $7k in HSA. We own a house right now and would want to sell. Comps are showing that we can have about a 200k profit after closing expenses which we would put towards the new house. New house is at around $630k to $660k depending on what we want to offer based on comps. It would be our forever home. We are preapproved at 4.375% for up to $850k. Right now we are paying $2200 a month for our mortgage with a new mortgage of up to $3600 if we go on the higher end. This is including property tax and insurance. Utilities are not configured in this number. We have a baby on the way, but our parents live in ...

We were originally looking to build, and own 3 acres. However, the prices have been astronomical it’s making me nervous that we won’t be able to afford building (right now or ever). So we looked at a house in the neighborhood we want to be in that’s been sitting for 200 days. It needs a lot of work, mostly cosmetic. However, because I stay at home with our children. I don’t think we will have enough ‘income’ to qualify. Even though we own our current home outright and it’s worth the approximate value of the house we are interested in purchasing. We also have virtually no debt besides one small car payment a month that’s almost paid off. We have cash in savings bonds (that comes with tax implications), savings, roth, 401k, mineral rights etc. Is there a way we could pay the difference in equity of something we own? Or a bridge loan? Do I have options? Am I better off trying to get financed through a credit union? Once we sell our current home it would be an almost even trade off, b...

My cousin sold house his house in February (market peak) for quite a high price and buyer put in $100K deposit. Closing was this week and buyer backed out now saying he can’t close on the property due to financial reasons. Now, can they re-list the property asap or wait for the deposit to be settled as I’m thinking buyer just walked away from $100K deposit. submitted by /u/JakeMatt77 [link] [comments] source https://www.reddit.com/r/RealEstate/comments/vgj8oa/buyer_backed_out_ontario_canada/

I’m watching Selling Sunset, lol.. 1. I’m confused as to why their commission rates are so high 20-30%. 2. The agent has a home to sell, do they only sell to buyers that they also represent? It seems like their sellers AND buyers both come from the same brokerage and i’m just confused, aren’t other brokerages allowed to also put in offers? or is it an exclusive thing to their brokerage, and if so, is that common? submitted by /u/krn_01 [link] [comments] source https://www.reddit.com/r/RealEstate/comments/vgeud8/listing_home_with_agent_do_they_choose_who_to/

Hi, I am about to start a new job at a realestate agency and was just wondering how much an agent roughly earns in a year? Do agents earn a yearly salary plus commission? Just want to make sure I’m not getting played. Thank you submitted by /u/rebrega [link] [comments] source https://www.reddit.com/r/RealEstate/comments/vggqv7/realestate_agent_salary_australia/

My wife and I make about 180k a year before taxes and about 7000 a month take home after 401k, company stock allocations, health insurance etc. For our investments, we are around a medium aggressiveness with about 13% going to 401k and 10% going towards company stock. We can dial those back for a little bit more gross income too. We are looking to buy a house at around 650k, but the mortgage payment would be around 50% of our net income. This is before utilities and everything else house related. Do you think this is too much? We anticipate selling our house for about a 200k profit after all selling expenses and intend to put that towards our new place. This should bring the mortgage payment down a bit after we get it. We are looking in northern Massachusetts if that makes a difference. Thanks! submitted by /u/S3nseiCY [link] [comments] source https://www.reddit.com/r/RealEstate/comments/vgg0lu/is_50_of_gross_income_too_much_to_allocate_to_a/

I still can’t believe it’s really happening and part of me is just waiting for something to go wrong. We were the first showing for this house and fell in love. Almost didn’t make an offer because we were only able to offer asking. Submitted offer yesterday morning and last night they countered for $5k more. Signed new contract shortly after. submitted by /u/Used-Mode1484 [link] [comments] source https://www.reddit.com/r/RealEstate/comments/vfw2uu/35_houses_7_offers_and_were_under_contract/

I've been shopping for a house that we can purchase and demolish, in order to build a new home. We came across a very good property - great location and about double the normal lot size in the area - and we put an offer on that has been accepted. The seller disclosed that they had an oil tank that was removed in 2010. There was leakage and contamination. I have the report from the company stating what they did (testing about 12 ft around tank, replacement of soil, and ongoing testing for a year). I also have a letter from the state, which indicates that the state agency was happy with the results and no further action was required. Given I'm going to knock down this house and build, what is the risk? What questions should I be asking? Is it fine since it was remediated? submitted by /u/arigatoed [link] [comments] source https://www.reddit.com/r/RealEstate/comments/vfwpcr/oil_tank_remediation/

Per the title the floor drain in the basement backed up last night. Tomorrow is our last day in the house for our lease back. I poured some draino in there with no luck. Got my (cheap) snake out and there definitely seems to be a clog a few feet in but I couldn't get it to budge. It's mostly clogged but it does drain away slowly. The only thing affected is the kitchen sink, everything else seems to be connected past the clog. It backed up a year or so ago and draino got it working again. During the inspection about a month ago the inspector turned all of the faucets on and let them run for 10-15 minutes and there were no issues. Do I call a plumber, even though with the weekend they won't likely be here until after we are gone, or do I say "Here's the keys, btw the floor drain is backing up you may want to do something about that?" submitted by /u/coolz19465 [link] [comments] source https://www.reddit.com/r/RealEstate/comments/vfua5q/sold_house_...

The govt thought they were being magnanimous and taking care of the people when they handed out “free” money and passed the eviction moratorium…. Then at the end of the financial year they took back their money via taxes… And landlords got so traumatized by the moratorium that they jacked up rents and security deposits to ridiculous amounts. So now new renters (middle class and poor) are bearing the brunt of our amazing govt’s decisions….. How much more blood can one squeeze from a stone? submitted by /u/thentangler [link] [comments] source https://www.reddit.com/r/RealEstate/comments/vftiwf/new_tenants_are_paying_for_the_covid_moratorium/

Reneging on contract to sell: Without getting sued for breach of contract? If buyers do everything right,? Or do you just pay their costs (which can be anything it seems)? submitted by /u/noplasticstrawsplz [link] [comments] source https://www.reddit.com/r/RealEstate/comments/vfqbyl/is_it_possible_to_back_out_of_selling_after/

Hey Realtors, I am new in real estate learning how to do a CMA. What is the maximum price range you would use when preparing a CMA? 5 %? 10 %? For example if a clients home was estimated on the MLS to be $1, 100,000-$1, 400, 000, What is the lowest house sold you would include in the report and whats the highest house sold you would include? Thanks! submitted by /u/Apprehensive_Guard12 [link] [comments] source https://www.reddit.com/r/RealEstate/comments/vfpktu/new_to_real_estate_price_range_for_cma/