Hi everyone! Just bought a home in Southern California that is actually 2 properties. Front unit is 3bed/2bath, back unit is 2bed/1bath. I intend on renting out the back unit, and after some renovating expect I can make at least $2200/mo from it. Now that the excitement is wearing off I’m getting stressed about wanting to do this right. Here’s what I have so far: Post listing online Ask interested people for an application and run a background check. What website do I use for this? Anything specific I should look for in a report? Do a pre-move in inspection with the tenants. Is there an official source for this form or should I create one? Tenants need to sign a lease. Where do I get an up to date lease that follows all California law? And do you guys have any other tips? Any and all info is appreciated! Thank you :) Edit: A big worry of mine is a tenant who stops paying rent/finds some legal loophole way around it since California is very pro renter. I really need the rental ...

Wouldn’t now be a pretty decent time to buy? In my area prices have begun to fall with sellers incrementally reducing asking price on homes for weeks-months before sale. I’m new to real estate, but wouldn’t it be good to lock in a relatively low price (with property taxes tied to that price)? Then refinance once rates fall back down? Assuming I can comfortably cover the high rates now, wouldn’t that be the best of both worlds? submitted by /u/sweetawakening [link] [comments] source https://www.reddit.com/r/RealEstate/comments/xs1vop/question_from_the_village_idiot/

I am a landlord with multiple properties in my surrounding area. A house just went up for sale that is an ideal purchase for me. The seller has made in clear they will not sell to landlords out of respect for their neighbors. I thought about purchasing under my personal name and transferring to LLC after the but people in the area know me and may catch on. Also thought about purchasing under my mothers name (different lady name) and transferring after sale but seems like a lot of work. Any ideas on how to go about this? P.S. I am not a slumlord and have always had well respected tenants who get along with neighbors and respect the area submitted by /u/Bizzy1995 [link] [comments] source https://www.reddit.com/r/RealEstate/comments/xs0to0/seller_wont_sell_to_landlord/

In italy we a government based source called OMI that periodically publish dataset containing the values of houses in Italy, divided by different areas. I was wondering if other EU countries has similar public accessible database. submitted by /u/GreatExtent8937 [link] [comments] source https://www.reddit.com/r/RealEstate/comments/xryz1s/property_data_values_for_eu_countries/

Our 2022 P&L statement so far: https://imgur.com/a/KIVB1pZ ​ I recently inherited control over my family's real estate company, and am a complete novice. ​ I wanted to share what our profit and loss statement looks like and see if I could get feedback on it from experienced operators, especially on the expenses. I have no idea if I'm overpaying for anything, or if I'm organizing things in a suboptimal way. ​ Does this look like a healthy P&L statement? If not, what looks wrong/stands out to you? Again, I'm a novice so I have no idea if I'm overpaying for anything.... ​ I thought it might be interesting to share real numbers, so thank you in advance for any feedback/advice you might have! ​ Relevant Info: We have 3 properties, 2 in PA and 1 in NY: 23 unit apartment building @ 95% occupancy A ski chalet in NY that's rented through the ski resort office 50,000 sq ft manufacturing facility (my cousin runs his business out of it, so we don...

I have a manager that doesn't care for our apartment complex, we are low income and get funding via the state from New Mexico financial authorities. We also have a housing program that represents up. Besides them we don't have any lawyers or anyone to sue or speak in iur behalf. We have appliances that don't work, windows get busted on a biweekly bases homeless harassing tenants put parking garage doesn't even close, and managementharassed tenants and then tries to evict. Maintenance requests don't work, corporate doesnt care and we are truly helpess. Kts a abuse of power. We have lost 3 assistant managers due to the manager with another apologizing for her actions. Whats the best thing I should do? I feel cornered a long with tenants. Any advice would be much appreciated. submitted by /u/Crazygamerlv [link] [comments] source https://www.reddit.com/r/RealEstate/comments/xrubdp/im_needing_some_help/

Is it realistic to think I can buy right now in East Valley without putting down more that like $500 in earnest money? We are doing dpa and after I talked to the lender it sounded like we would only need appraisal and home inspection money and even that could be refunded at closing. We are waiting on pre-approval letter to start actually looking at houses to make offers. I didn't even think about earnest money until the lender mentioned it could potentially be refunded. I don't immediately have $4k laying around and would take atleast a month to save up. I'm on a bit of a tight timeline and there are several houses on the market we really like, one has been listed for over 100 days. Anyone have insight? Thanks submitted by /u/allouttabubblegum528 [link] [comments] source https://www.reddit.com/r/RealEstate/comments/xr8vgq/earnest_money_in_az/

Will I be okay to close if I’m getting let go of my job on Monday. If I’m clear to close does that mean they already did the last employment check? submitted by /u/Johndoe_718 [link] [comments] source https://www.reddit.com/r/RealEstate/comments/xr7u6r/clear_to_close_for_tomorrow_but_getting_fired/

I purchased an investment property last summer to house hack. I have lived in one unit, and the other two have been used as rentals. When I toured the property, my agent and I noticed a "soft spot" in the floor of a room. We discussed and figured if something was terribly wrong, it would show up on the inspection report. This is a Frankenstein home where addition after addition was added on (likely by the original owner), and much of the building isn't really "conventional" from a builder or inspector's standards. So I go under contract and have the inspection, and the inspector simply notes "soft spot in flooring of room x". Regarding the crawl space under this area, the inspector states he did not inspect it because he could not fully access the space due to duct work and plumbing obstructions. When I asked my agent about her recommendations for the entire property after inspection, this wasn't in her list of items, so it fell off my radar....

1 490899.026 (east) 2772730 (north) The plot size is approximately 31,000 sq.ft but what context do the above numbers carry? are these certain measuring units? submitted by /u/maturebehavior [link] [comments] source https://www.reddit.com/r/RealEstate/comments/xr32or/can_someone_please_explain_me_what_do_these_plot/

Paid earnest money for a new construction primary residence in August 2021. After upgrades the total price came out to $620K. Fast forward to last month. Got loan approved last month with 5% down. Lender (local CU) did an appraisal and the appraised value came out to 700K. With 5% down and 80K appraised value, I am around 17-18% equity on the house. I am closing next week so lender sent the final estimate with $250 PMI. I inquired if they would reduce the PMI based on the equity and they said No. They will only go with the sale price which is $620K. How should I convince them to adjust the PMI according to the equity? Am I being unreasonable ? submitted by /u/PeacekeepingDispatch [link] [comments] source https://www.reddit.com/r/RealEstate/comments/xr2ide/how_to_convince_my_lender_to_reduce_pmi_payment/

We’ve been looking for a home since December 2021. Our criteria is pretty specific and we don’t have to move right now (renting), so we’re not in a huge rush. We signed a year long contract with a realtor, and chose her because of her purported deep network and access to hearing about homes before they come on the market. However, she hasn’t done so in the time we’ve worked together. Is this normal or should we expect at least a couple scoops on homes that will soon be going live? She’s part of a large brokerage so I kind of expected she’d have some insider info. We haven’t heard from her since July when we last looked at a home. We reach out proactively if we see something on Zillow/Redfin but don’t hear anything otherwise. Is that normal? Just a function of the market we’re in? Or should we be expecting a bit more? submitted by /u/thedamagelady [link] [comments] source https://www.reddit.com/r/RealEstate/comments/xr0dcc/are_pocket_listings_still_a_thing_in_this_market/ ...

To give context, I have a realtor that showed me a couple houses. One of them I was very interested in, but when she submitted the offer, she submitted it 11k higher than I asked her to, then denied that was what she offered. I politely expressed that I felt I wasn't being fairly and honestly represted and asked to be let out of my contact and she agreed. I am still interested in that property, but the realtors I've spoken to seem uninterested in helping me get into the property since someone else showed me the property and it would be "stepping on her toes". Could I still do it myself? submitted by /u/GodlessHeathenz [link] [comments] source https://www.reddit.com/r/RealEstate/comments/xqdbun/can_i_as_an_individual_put_an_offer_on_a_house/

I have a 2-fam house that sits on a lot that is 12,500 sq feet. I was thinking of trying to subdivide and either build on it or sell it. Years ago, the requirement was that the lot had to be 5,000 sq ft, a few of my neighbors have 5,000 sq ft lots. At one point, probably 20-30 years ago, they increased the minimum lot size to 7,500 square feet, so my lot would have to be 15,000 sq ft to subdivide it into 7,500 and 7,500 lots. I was thinking of applying for a variance to subdivide my lot to 7,500 and 5,000 (current 2-fam house). Does anyone have experience in applying for a variance and getting it approved? Additional info: House was purchased for $500k (no mortgage), currently worth $750k-$800k. 7,500 lot would be worth $150k-$200k. submitted by /u/rtraveler1 [link] [comments] source https://www.reddit.com/r/RealEstate/comments/xqd7f6/variance_to_subdivide_lot/

I've flipped 3 homes on my own while living in them, hiring out what I have to and handling paint, flooring, and other simpler jobs myself. All have been profitable, but I want to start doing these on the side without forcing my family to live in a construction zone. We've just sold our home and now have $130K sitting around to work with while we rent somewhere. Sanity check - I've read a lot on this sub and love it, but also see almost unanimous negative responses about people starting to become flippers, wholesalers or any other entry point into the market (realtor). Sentiment seems to be that if you're not established already, your odds of success are very low. Am I missing something here? Can someone explain why I'm just "late to the party" so I can't do well at it? submitted by /u/Objective_Relief_449 [link] [comments] source https://www.reddit.com/r/RealEstate/comments/xqcp5r/sanity_check_starting_house_flips/

​ Analyze The Area ( Zoning ) Litigation Matters Amenities The Terms of the Deal ( Financing Options ) Condition of the Building Don't Miss the Structural Details ( Fiber Connections, Network Coverage, Air Conditioning ) submitted by /u/realtorspak [link] [comments] source https://www.reddit.com/r/RealEstate/comments/xqa15y/things_to_consider_before_buying_a_commercial/

Hello My parents are planning to sell their property through a listing broker in the city of New York. The contract listed two brokers on the agreement and that the owner agrees to pay the listing broker a total commission of 3%. "The OWNER hereby agrees to pay the LISTING BROKER a total commission in the amount of 3%" My question is, are the two brokers sharing the 3% or will my parents have to pay a 6% fee? Thank you for the help. submitted by /u/yeongsoo [link] [comments] source https://www.reddit.com/r/RealEstate/comments/xq5a7c/two_brokers_listed_on_exclusive_right_to_sell/

That's what my lender is telling me. Stuck some discount points on our mortgage without asking, says 0-points was unavailable due to market conditions. I don't know that much about mortgages at this level of detail, has anyone else heard of this happening? submitted by /u/building_robots [link] [comments] source https://www.reddit.com/r/RealEstate/comments/xq58rk/ever_heard_of_not_being_able_to_lock_a_rate/

I'm a single guy looking to house hack in the next 3 months. Are there any loans where I can use rental income from additional rooms to qualify for the mortgage? I've seen Boarder income but that seems to be slightly different. submitted by /u/Phatten [link] [comments] source https://www.reddit.com/r/RealEstate/comments/xpigmp/can_i_use_rental_income_to_qualify_on_a_single/

https://www.zillow.com/homedetails/1149-NW-20th-Ave-Cape-Coral-FL-33993/68097239_zpid/?utm_campaign=iosappmessage&utm_medium=referral&utm_source=txtshare Long story short, the owner of this house is under contract to purchase my house, in Delaware. I think they’re shooting for the moon at this price point. Zestimate says 598k, but I know that the Zestimate is unreliable and often times flat out wrong. Maybe I’m wrong, but I’m looking for anyone to weigh in. Thanks! submitted by /u/samsquanchhhhhh [link] [comments] source https://www.reddit.com/r/RealEstate/comments/xpg1qe/florida_agents_what_should_this_be_listed_at/

FTB here looking to get on the housing market in the UK in the south of England. Trying to figure out whether now is a terrible time to be taking up a mortgage given the economic outlook and banks withdrawing a number of their offered mortgage rates? Is there going to be a significant drop in housing prices in response to rising interest rates and people failing to repay their mortgages? Appreciate this is a speculative question but would be interested to hear opinions from people more in the know than myself. Keep looking and buy when the right thing comes along or sit tight? submitted by /u/Reddit7om [link] [comments] source https://www.reddit.com/r/RealEstate/comments/xpflrf/first_time_buyer_uk/

Per WSJ: Rents Fall for First Time Since Late 2020 Apartment rents are falling from record highs across the U.S. for the first time in nearly two years, offering the prospect of relief to millions of tenants who have seen steep increases during the pandemic. August apartment asking rents nationally slipped 0.1% from July, according to a report from property data company CoStar Group. It was the first monthly decline in rent since December 2020, the company said. Other surveys also showed rent declines of various degrees. Apartment-listing website Rent.com showed a 2.8% decrease in rent for one-bedroom apartments during the same month. The listings website Realtor.com also noted a slight monthly decline in rent this August. (News Corp, owner of The Wall Street Journal, operates Realtor.com under license from the National Association of Realtors.) The decline is obviously very modest, but could just be the tip of the iceberg, especially if the labor market takes a hit. submitted...

I am in the process of selling a commercial property and want to 1031 exchange it into a condo. What are the downsides of owning a condo? What happens if there is something wrong with the unit and needs to be fixed (ie plumbing). Do you have to hire someone from the building? How easy is it to buy / sell? What is a reasonable price appreciation for nj/nyc metro area? submitted by /u/balaca40 [link] [comments] source https://www.reddit.com/r/RealEstate/comments/xpacn8/what_are_the_downsides_of_investing_in_a_condo/

Stock market just went back to 2020 December. I have to say fed will keep raising rates until EOY Sep : .75 bps oct : .75 bps Nov : .50 bps Dec: .25 bps S&P 500 to 3400 to 3500 (bottom prediction) and possible 3200 and 3000 Housing to follow suit with another 15% - 25% up until June of next year(2023) Fed is also lookin to push 5% unemployment To squash the excess money in the economy right now I am 10% cash adding every week to the reserves.currently sitting tight on a downpayment and DCA on my portfolios submitted by /u/No_Experience_4809 [link] [comments] source https://www.reddit.com/r/RealEstate/comments/xp8uo2/where_i_guess_housing_will_be_in_6_9_months/

823 August Street SE, Palm Bay, FL, 32909 - www.flexmls.com/share/7XnAf/823-August-St-SE,-Palm-Bay,-FL-32909 Hi everyone! So we are on the hunt for our primary residence. We like this house but when we looked up the comps it seemed to be over priced. When we viewed the home it seemed to need a roof replacement. The listing agent did say the seller is aware and to work the roof replacement into the offer( if any offer). I'm now debating as it seems like something alot of ppl have walked away from the property for. The home has been listed for over 100 days. I wanted some feedback from buyers who have bought homes with roofs that may need replacement and what maybe helped you in making the decision to proceed with the property.For us it is a great location, close to shops, freeway, and family. Also what barriers did you run into (if any) during financing or post closing? submitted by /u/AfroPuffs89 [link] [comments] source https://www.reddit.com/r/RealEstate/comments/x...

Hi Everyone. Would anyone know what a rental properties business category might be? I live in New York. These are the only options that I'm seeing https://www.businessexpress.ny.gov/app/bw/businesswizard ​ Real Estate Salesperson Real Estate Broker Apartment Referral Service Real Estate Services Property Management Company Mortgage Broker Appraisals (Real Estate) Home Inspections Would it be considered "Real Estate Services? Thank you. Kind regards, submitted by /u/timewizardfromearth [link] [comments] source https://www.reddit.com/r/RealEstate/comments/xolabr/what_would_a_rental_properties_business_category/

I acquired a park home through the death of my mum and I am looking to move out once my mum’s property has sold. Does any one have any advice they can give me. I earn 23k a year and he earns 27k a year and we both are young and haven’t got any major debts or anything We will have a deposit of about 60k Can someone please help me, will we still be able to use the first time buyer schemes like my partner has a help to buy and I have a lifetime isa. Thank you submitted by /u/Apprehensive_Stop802 [link] [comments] source https://www.reddit.com/r/RealEstate/comments/xol4hu/am_i_still_a_first_time_buyer_uk/

My wife and were just married last month and are now in the process of finding and purchasing our first home. We've only seen three homes so far. The first two homes had issues that prevented us from wanting to purchase them. We loved the third house that we saw. It's a mid-century modern built in the 1960s. It's not very updated, but it's been well maintained, has a new HVAC and new roof and it has a ton of charm. It's a very unique house with a ton of space, a beautiful front yard and spacious backyard and it's in our budget. There are two main downsides. The first thing we noticed is that's in on a main road (35 mph speed limit, and doesn't seem like a ton of traffic, but a main road with double yellow lines). The second thing, that we found out later is that despite it being in a picturesque, charming neighborhood, it is in a terrible school district. My wife and and probably don't want kids and we absolutely love the house, but we're h...

https://www.reddit.com/r/RealEstate/comments/xan2yp/seller_refusing_to_close/?utm_source=share&utm_medium=ios_app&utm_name=iossmf Here’s an update on a post I made 2 weeks ago. Seller told us the only way to move forward was to pay $50k over the agreed upon price or he would carry a Lien on the property. After consulting with an attorney we decided the least stressful solution for us was to walk away. Found another property and closed on it a few days ago. submitted by /u/itsamennonitething [link] [comments] source https://www.reddit.com/r/RealEstate/comments/xoi37q/update_seller_refused_to_close/

I know interest rates have been higher than the 7% now and comments I've seen mention family having an interest rate of 13%. I was messing around with a mortgage calculator and at 9% interest, 20% down (which I don't think I'd want to put down). The best I could get within a comfortable mortgage rate would be maybe 250k. Granted the area I'd be looking at has high property taxes. My salary is 120k. The median salary of where I'm looking is 70k with inflation. And the median sale price is 315k. My question is how did people afford homes with an interest rate so high? Were homes that inexpensive comparatively? submitted by /u/Another_anon_123 [link] [comments] source https://www.reddit.com/r/RealEstate/comments/xog24v/interest_rates_and_affordability_question/

People keep saying to wait until the housing bubble bursts and prices fall to buy into real estate. However, the thing that will cause the housing prices to drop will be an increase in interest rates. So even if housing prices fall, wont increasing interest rates eat away at any potential market price decrease? Because interest would be compounding over time and may outweigh any change in the real estate prices itself. Or is it possible to get approved for a mortgage earlier and lock into a fixed rate and then buy a home a few months later when prices fall even lower? I’m confused as to why waiting is better than buying right now while rates continue to increase it seems it is better to lock in at an over valued price with a lower mortgage rate in my opinion but why is this logic wrong? submitted by /u/Sustainable_Coffee94 [link] [comments] source https://www.reddit.com/r/RealEstate/comments/xobqig/which_is_better_a_cheaper_home_at_higher_mortgage/

I am currently looking for a place (apartment or house) to move out but don’t know much about how the housing market works. I have about 40k in savings and roughly make a gross monthly income $5000. All I pay for is my car note currently which is less than $500 a month. What do you think I can afford based on the information given? I’ve asked family for help but they suggest I stay and live with them so they refuse to help me. Thank you to anyone with advice. submitted by /u/Pizzathisass [link] [comments] source https://www.reddit.com/r/RealEstate/comments/xnrm1h/trying_to_move_our_family_home/

It’s about affordability,when you have an avg American Joe making 50 to 70k per year and expecting to pay 50% of his wages towards living, Houston we have a problem America again created a housing bubble lead by mass speculation, cheap money, endless access to infinite money I fear this time is no different from last time, affordability is in dismal state and cracks are beginning to show Job market, the only standing pillar left to hold the housing market is going to be tipped over by our bro Jerome Powell Please understand I don’t mean to blame anybody submitted by /u/No_Experience_4809 [link] [comments] source https://www.reddit.com/r/RealEstate/comments/xnq510/it_was_never_about_poor_lending_standardslow/

Unless the owner was out there scrubbing between patio tiles with a toothbrush and edging the lawn with scissors, it's likely that the house was simply "appropriately maintained", and whoever wrote the description was grasping for reasons to list it for that much. The expectation for any property is that it's in good shape (i.e. maintained) unless otherwise mentioned. submitted by /u/WinterHill [link] [comments] source https://www.reddit.com/r/RealEstate/comments/xnnkqt/psa_any_house_described_as_immaculately/

MD here. Have been monitoring market locally for a while. 2 condos (listed almost at all time highs) in the area are under contract within a week. Same applies to smaller SFHs (under 2k sq ft). They go pretty fast since you kinda, sorta still can afford these under $400k with ~6% interest rates. Everything else bigger > $500k for the most part has been sitting for 30 + days. I mean who the hell can afford $4000 + mortgage, so I'm not surprised. Supply is decent since people have to move for XYZ reason, new jobs, divorces etc. The problem is that new buyers in lower, median income bracket without any equity are pretty much outpriced and can't afford literally anything. This is why rent is skyrocketing. Also I stopped hearing about "cash buyers" 🤡, finally. Historically high home prices coupled with highest interest rates for more than a decade do not mesh well together. We live in condo and eventually want to buy SFM with a yard but im not buying $500-600k hom...

I am looking at buying a house in Seattle, where prices tend to rise faster than most of the country and I expect there to be strong demand for quite a while. I work in tech and could comfortably afford something in the $650,000 range, I am single and don't need a lot of space. I'm thinking of intentionally buying something a bit larger or in a nicer neighborhood though as an investment. The general advice is not to buy more than you need, but I watched a youtube video recently that talked about how when you buy a house you essentially get access to a huge amount of investing margin, because you now have an investment worth the entire price of the house and all you had to pay upfront was the down payment. So if the property goes up 15% I make $97,000 even though I only put down $35,000 or so. If my income ever changed I could rent out the place to cover most of the mortgage and still benefit from appreciation. In theory, if the whole city appreciates at roughly the same rate...

Hello, I know the answer seems simple but my mom seemed very convinced. So my mother wants to sell her very nice apartment in a city in FL to move to The Villages. I love the apartment but I don't live in Florida and ultimately it is her life. She was letting me know and I asked her the usual are you sure, tell me about the new neighborhood questions, and I also requested "If you don't need the money, would it be possible to make sure it's sold to a family or people instead of a corporation?" And she told me that was illegal to choose who you sold your house to because of discrimination and you have to take the highest offer. I think she probably just wants a cop out because she grew up poor so she sort of always chooses to take as much money as possible when she can, but she will still make 50-75k more than she bought this apartment for 8 years ago because of how much the market has grown in her area and the improvements she made. I'm a big believer tha...

I bought my first house at the beginning of 2021 in a newer townhome community (built in 2017, 3 bed, 3 bath) in the burbs. I’m a social guy and always out talking with my neighbors and one day we got on the subject of how high our home values have gotten over the two year after a few of them just sold. I bought at 201k and put 10k down. Fast forward to today and most of them that have less square footage as mine are selling at 238k and 242k. After I called the bank they said in February I can get rid of PMI on that 24 month payment and can have an assessor out there, just call back in January to schedule that. I asked around to my neighbors if they were will paying PMI and I told a few of them now that their house was worth more they can get it removed easily (and some of them bought in at 175k). Sad people don’t educate themselves a little more and sad that the banks never told them about this and all they had to do is make a few phone calls and an appraisal to get it removed. ...

Edit: thank you for your comments explaining submitted by /u/DonaldTrumpsCumSock [link] [comments] source https://www.reddit.com/r/RealEstate/comments/xnjn90/what_value_do_landlords_provide_in_the_housing/

I just listed my home for sale in a Houston suburb 2 days ago. A year ago when we were looking for homes, every house had at least 3 offers on it the first day. I know it's still very soon but I'm concerned about how long it will take to sell. We've listed at FMV and have professional pics etc. We have several friends that are interested in moving to Texas although not right at this very moment but it got me to thinking, how would I (or realtor) reach out to channels in other states? My home would be an excellent buy for someone coming from a higher real estate cost location, listing on Craigslist just seems shady. submitted by /u/ffloss [link] [comments] source https://www.reddit.com/r/RealEstate/comments/xmxere/how_to_get_interest_from_buyers_in_other_states/

TLDR: Offered to do all repairs on due diligence. Buyers waited entire DD period to terminate. Now buyers extorting me for more money than they paid. My house went under contract 3 weeks ago. I got a great deal on the house in the beginning of 2020, NC waterfront for $320k. The couple was going through a divorce and just wanted to get rid of it. There were some issues on the inspection, but nothing major. All issues were addressed. Fast forward to a few months ago, I am moving, and the house is worth $5-600k. I listed the house for $525 and I had 10 requests for showings in 48 hours. Given the unknown trajectory of the market, I accepted the first offer of $10k over asking with a 24-hour period to accept. I accepted. Because of the previous buyers being of no help on anything, it was difficult for me to put any meaningful information on the RPD. The previous owner’s agent did tell me that a portion of the metal roof had been repaired in 2018 after hurricane Florence. So on the RPD u...

The people buying my house are using a no down payment VA loan. They have given us $10,000 for due dilligence/earnest money. As part of the contract we agreed to give then a credit of $10,000 for closing costs. Will the buyer get (at least some of) their earnest money back at closing? Like let's say closing costs end up being $11,000. Since we offered a credit of $10,000 would they get the $9000 back? submitted by /u/lkn240 [link] [comments] source https://www.reddit.com/r/RealEstate/comments/xmt8i1/va_loan_seller_covering_closing_costs_does_buyer/

Hey everyone! I (32F) was born and raised in Phoenix and have also lived in Seattle in my 20's. I bought a house last year because I'm hoping to have a family in the next couple years. I was fortunate and sold my first place for $150k profit in peak 2022 so I have a lot in savings at this point. I am starting to feel nervous about my decision, not because I plan to sell anytime soon, but because of the water issues everyone is alway bringing up. I was looking for some support maybe from people in the same boat and how you're handling the worry that this might not be habbital longter. I really don't want to live anywhere else and love it here, nor do I want to take a massive loss if we are forced out. How are my fellow Arizonains coping with the worry? Is anyone preparing now for a potential water shortage here? If so, how? submitted by /u/EggsBenedict_T [link] [comments] source https://www.reddit.com/r/RealEstate/comments/xmr290/i_bought_a_house_in_arizona_...

submitted by /u/ConcreteDoofus [link] [comments] source https://www.reddit.com/r/RealEstate/comments/xmq74s/should_i_buy_a_home_now_or_wait/

Does anyone have experience insuring their home owned by a revocable trust or land trust? I use Travellers but I can't find anything on their website. submitted by /u/chicagoian2022 [link] [comments] source https://www.reddit.com/r/RealEstate/comments/xmo9of/travelers_homeowners_insurance_and_home_owned_by/

Were in a badly timed situation "The electric service entrance cables appeared to be in need of evaluation. The electrical grounding system wire for the hot water heater was not in use. A licensed electrician should be called to inspect the system." We're buying a house in Florida. We're supposed to close Monday but a hurricane is coming, were in central florida so downed trees and some wind is the threat really.. This is what was on my inspection report. The seller has had trouble getting an electrician out before Monday and offered to get the quote and pay the quote but the repairs would be scheduled after closing. On the flip side, if we put off closing now, it'd be scheduled for the 12th.. If the storm hits, electricians might be pretty busy and the closing would be further delayed, the loan officer may have us pay for a new inspection and Appraisal and closing could be even further from the 12th. We're renting and are supposed to be out on the 1st, 48 ...

Inflation is up and house prices go down. Home prices go up inflation is down. So do we cheer for interest rates to go down so houses can go back up again? submitted by /u/arrivva [link] [comments] source https://www.reddit.com/r/RealEstate/comments/xlz928/inflation_is_upside_down/

Sorry if this is mislabeled or not posted in the right sub. I need some advice on how to handle a buyout. Me and a cousin purchased a foreclosure in 2018 for $380,000, we agreed that we would keep the home for 5 years. We also agreed that at the end of 5 years I could buy him out, or we would sell the house. We refinanced in 2020 so I put down $25,000 more than my cousin so that we could get rid of PMI. The house is now worth about $535,000. Assuming the value of the house is still 535k next year and the remaining mortgage balance is 347k, what would be a fair offer for a buyout currently? Side notes and questions I have - I know I am up $25,000 in equity vs my cousin. I'm not worried about being screwed over, I just want to make sure everything is fair. Should my cousin be responsible for part of closing costs even if we don't go though a realtor for me buying him out? I will have to pay some part of them when I sell the house. Should I have a realtor make the offer? ...

Does anyone have a link/source that tracks the average monthly payment of new mortgages in the US over time? I’m in the market and trying to mentally balance price cuts in my area with rising rates. It feels like the price cuts and new listings are lowering average price, but nowhere near enough to offset rate increases. Just curious if this data exists somewhere easily available so I can get a sense of how monthly payments have increased over the last few years. That’s really what I’m looking at more than either sales price or rates in isolation, and I have to think a lot of other prospective buyers are the same. submitted by /u/positiveredditftw [link] [comments] source https://www.reddit.com/r/RealEstate/comments/xlwhfa/average_monthly_payment_of_new_mortgages_over_time/

Hello everyone! First I want to thank each and everyone of you for your post, inspiration and support. This is really a strong community we have here. I would love to get your advice on a issue I’m having during my home buying process. I was able to get my credit up to 650 from the low 400s with the help of this group in 1 year!! To qualify for the home purchase, I was told that I need at least a 620 and no late payments in 12 months. I purchased a vehicle 6 months ago and traded in another vehicle that had a smal 3K balance. The dealership was supposed to send the check to Bridgecrest (I know they are horrible but I was in a bind for a vehicle years ago) but the dealership dragged their feet on sending the check to the previous Finance company. This resulted in the check being sent to the previous Finance company late. They reported the late payment to the bureaus and now I’m unable to get my house right now because of an error on the dealerships behalf. Do any of you all have any re...

Hello, I’m renting a privately owned townhouse from a lovely couple but the leasing company they went through is trying to scam me (I believe). My lease is up November 1st, and my housemate found another person to move in. The couple who owns the property contacted me and informed me that there is $600 new tenet fee, $300 paid by me (who is moving out) and the owners. I’ve rented at many places and after reviewing my lease there are no papers reflecting this charge. This has nothing to do with fixing damage as the owners also have to pay. I’m not breaking the lease either, so I’m just confused as to how this is legal. I don’t have a lawyer but when I call them I want an idea of what I should say. Has anyone heard of a “new tenet fee” after a lease ends? submitted by /u/Superb-Work5044 [link] [comments] source https://www.reddit.com/r/RealEstate/comments/xlurtx/california_leasing_company_wants_to_charge_me_a/

I am going through a lender with a calhfa conventional loan and the lender is charging me a 14k in origination fees on top of 11k on points. I'm currently looking at the calhfa conventional loan handbook and it says that "CalHFA allows: "Customary lender origination fees not to exceed the greater of 3% of the loan amount or $3,000" . The 14k is 11k over 3000, is this allowed with calhfa conventional or am I misinterpreting the handbook? https://www.calhfa.ca.gov/homeownership/programs/FAQ-conventional.pdf submitted by /u/Longwashere [link] [comments] source https://www.reddit.com/r/RealEstate/comments/xltp0h/calhfa_convetional_origination_fees_am_im_being/

Has anyone done this or represented a seller with this contingency? How much does it limit the buying pool? As a buyer I don’t think I could make a commitment to buy knowing there is a chance I won’t get the house and be in limbo but as a seller this seems like a very attractive way to sell and buy simultaneously. submitted by /u/VeryStab1eGenius [link] [comments] source https://www.reddit.com/r/RealEstate/comments/xl2su2/buying_contingent_on_sale_of_current_home/

submitted by /u/dnunn12 [link] [comments] source https://www.reddit.com/r/RealEstate/comments/xl31po/what_rates_are_you_being_quoted_after_the_last/

submitted by /u/HavokzDK [link] [comments] source https://www.reddit.com/r/RealEstate/comments/xl2ye5/funds_not_disbursed_1_week_after_closing_seller/

Cross posted to r/legaladvice We purchased a 120 year old farmhouse at the end of April in Kentucky. During the inspection process we found that there was some structural support damage and mold on the beams and underside of floors. From our talks with the inspector, he agreed that the mold was the most important issue and that we should get taken care of before closing. In our purchasing agreement, we asked for a credit towards foundation/structure repairs and for the mold in the crawlspace to be remediated and the areas to be painted with KILZ paint. About a week before closing we received pictures of the KILZ paint. When we and our banker asked for evidence that the mold had been remediated, we were sent an invoice where it states the mold was remediated and the areas painted. In addition to this, when we spoke to the inspector after he did the inspection back in April he verbally told us he was not able to access the crawl space under my sons room. Fast forward to this week. We...

(Throwaway acct.)So spouse and I bought a condo in North East (all cash) just under 2 yrs ago. This was supposed to be our forever home. I absolutely hate it here for a multitude of reasons, spouse loves it. On paper this was the perfect place; we're able to save a lot of cash monthly, location is great - safe and accessible. We've put about $45,000 into it ($25,000 of that was for a "surprise" repair), never flipped kitchen or bath. Anyway, initially it was a decent buy and if it weren't for that $25,000 expenditure, I believe we would have broke even if we were to sell in today's market (I've kept track of sales here). So we will certainly lose money. Should we sell in spring and rent or sit for awhile? Our ultimate goal is to buy a home in an HOA. We will end up having to take out a mortgage for about 100k to 120k to do this. But there are hardly any coming onto the market. I'm conflicted and frozen on what to do, so I greatly appreciate any advice...

I’m in the process of buying a home and ordered a septic inspection. It revealed that the drain bed was out of code (it’s about 200 square feet smaller than code requires). When it was originally approved by the county the home was reported as having two less bedroom than it currently does. All other info in the report checked out. I’m wondering whether or not this is something I need to be concerned about. Questions… 1. Will the fact that my drain bed isn’t up to code impact an insurance claim should an issue ever arise with the septic system? And 2. how might this impact my ability to sell the home at some future date? submitted by /u/bear_crater [link] [comments] source https://www.reddit.com/r/RealEstate/comments/xkzx1d/septic_inspection_is_this_an_issue/

I've been thinking about a new home for about a year, but not too seriously as I've been okay where I am. I live in a "hot market" city, which has seen a pretty large influx of inventory and price drops over these past few months. I started looking for real about a month ago. This will be my second time to buy a house. I made some compromises the first time around, mostly because I was being conservative with the monthly payment (I shot for something like 25% of my monthly take home pay). My income has increased by a lot (promotion), and I am confident that it will continue to increase. I work in a stable field. So this time around, I budgeted for like 40%. That was a few weeks ago, when my lender quoted me at around 5.125%. I plan to keep my current home with its dirt cheap mortgage as a rental, I expect to break even on this for now. I plan to cash out about half my reserve in stocks for the down payment + 6 month buffer for the rental. The only debt I have is a ...

submitted by /u/Large_Surround8768 [link] [comments] source https://www.reddit.com/r/RealEstate/comments/xk4b29/refinance_is_up_104_this_month_is_this_a_good/

The SBA lender said there will be an appraisal and environmental report. The sellers are very stubborn about the offer they accepted for 1.1 (apparently they wanted more like 1.6 but everyone agrees they would have never gotten that). They were very reluctant to accept my offer of 1.1. My financing is through an SBA lender. If the appraisal comes in at 900 or 1m, will they have no choice but to lower to that price? I will not have the funds to make up the difference, as any savings I have will need to go into the business and carry the mortgage while I get this location up and running. submitted by /u/cutefuzzythings [link] [comments] source https://www.reddit.com/r/RealEstate/comments/xk44m2/how_will_an_appraisal_affect_sba_loan/

I wanted to create an actual post to address what I consider one of the biggest misconceptions in the rental market, the tenant's obligations with a lease. I see this far too often. This applies to contract law in general also. Although you signed a lease technically committing you to pay a certain amount of money in exchange for a rental for a certain period of time, if you break the lease the landlord must make a reasonable effort to mitigate damages. In a competitive market this should be relatively quick. If the landlord refuses to re-lease or is unreasonable in their attempts to re-lease, they have violated their Duty to Mitigate damages and the court will adjust their award accordingly. Read substantially reduce the award. Once the apartment is re-leased you are off the hook for payments as the landlord cannot collect money twice for the same unit. Don't be bullied into paying and don't be afraid to sue for your deposit back. Small claims lawsuits are affordabl...

I am stepping into real estate but everyone is saying that property are down these days so any good tips to generate sales in these situations? submitted by /u/re_khantariq [link] [comments] source https://www.reddit.com/r/RealEstate/comments/xk1uyi/sales/

House is part of an estate in nice area of Sacramento. Single story 2 Bedroom/1 Bath ( 1100 sq ft) on an almost 1/3 acre - . The kitchen was in a middle of a remodel when the owner passed - nothing crazy still looks likes it fits with the home which is from the 70s - but needs about 3k - 5k of work . The real estate agent we have currently wants to list as a fixer upper and leave the kitchen. But we are wondering if we should put in the work to get the kitchen finished ( which is mainly just the backsplash). Thoughts? submitted by /u/Any-Wall2020 [link] [comments] source https://www.reddit.com/r/RealEstate/comments/xk1fdt/should_we_finish_the_kitchen_before_selling/

does anyone know if property can be bought in another country using a mortgage from an American bank? submitted by /u/Vegetable_Swing8340 [link] [comments] source https://www.reddit.com/r/RealEstate/comments/xjy81g/can_i_buy_property_on_another_country_with_a/

The average mortgage rate in 2021 was 2.96%. If one bought a $500,000 house and put 20% they would have a mortgage of $2,199. The average rate as of today is 6.33%. If someone buys a $500,000 house with 20% down their payment will be $3,005. Everybody is speculating a housing crash or the market going crazy and losing lots or value, etc. What do you believe will be the actual result of the high payment of interest, are house values going to dip significantly or what do you think? submitted by /u/jgonzalez0503 [link] [comments] source https://www.reddit.com/r/RealEstate/comments/xjx796/what_is_the_impact_of_this_on_the_market/

Hi. I bought a condo in PA early last year, got a great interest rate and low closing costs as a first time buyer. If I sell and move to MA, can I get low closing costs as a first time home buyer again? Does that info travel across state lines? My finances: I have a pretty good salary but not a huge amount of savings; I could cough up $10k up front. submitted by /u/rotterdamn8 [link] [comments] source https://www.reddit.com/r/RealEstate/comments/xj8631/i_was_a_first_time_home_buyer_in_pa_can_i_still/

e.g. Google, Nerd Wallet etc. etc. Do they actually translate to affordability in real life? Husband and I are buying second home, they want to go up to the limit of the affordability calculators where as i want to reign it back in a bit (giving current rates and future uncertainty). Any input on the matter welcome. submitted by /u/lordgoosington2 [link] [comments] source https://www.reddit.com/r/RealEstate/comments/xj72cp/how_accurate_are_purchase_budget_affordability/

Hello, Do you know what is Guided viewing? submitted by /u/RemarkableAd4798 [link] [comments] source https://www.reddit.com/r/RealEstate/comments/xj6gm6/what_is_guided_viewing/

​ With the hectic pace of every day life, it's no surprise there are so many in desperate need of some relaxation. Think about it, when was the last time you had a day for yourself where you treated yourself to a manicure, facial, massage, or wrap? With the slew of spas in and around Paradise Valley, you have your pick for where to go when you want some pampering. If you're ready to take some time for yourself, check out some of the following spas in Paradise Valley. Montelucia Resort & Spa Although it only opened in 2008, Montelucia Resort & Spa has quickly become one of the most popular spas in the Paradise Valley area. They feature hundreds of guest rooms and suits, so you have no excuse to not take more than a day for yourself. When you want a swim, there are three pools to choose from, and when you get hungry, stop at one of the five restaurants on site, such as Prado or Mbar, or do room service. Head over to their 31,000 square foot Joya Spa for one of their n...