For the longest time, the general consensus was that condo communities in Florida with a high senior population was a cheap place to live due to low maintenance fees etc. Does that translate to property's been neglected for 25 years + deferred maintenance ??? So those condos are pretty much a ticking time bomb where the new buyer will be saddled with huge increases in HOA when something major needs to be repaired?? Im new to condo shopping. And i just want to make sure im understanding things correctly. Insights? submitted by /u/meshflesh40 [link] [comments] source https://www.reddit.com/r/RealEstate/comments/187emkz/question_about_florida_condos/

Hey all, I'm in the process of trying to purchase a new home and we were told by the seller and seller's agent that they had a confirmed assumable FHA loan which seemed like a great deal to get a 4.25% rate. Fast forward, I was able to get the funds together to cover the delta between sale price and the current loan amount, we went under contract and I emailed the bank to inquire about an assumption packet to start my application process (I was already pre-approved for a larger conventional loan, have a low DTI and credit score over 820, so was not worried about getting approved). We received this email back from the bank saying the loan didn't meet eligibility requirements because the account has been past due in the past 12 months. I have yet to apply or provide any financial info to the bank, but it seems strange that a loan owner wouldn't want to allow someone in better financial standing to take over a loan that has had past due payments. Email is below for more ...

submitted by /u/Several_Dependent155 [link] [comments] source https://www.reddit.com/r/RealEstate/comments/187casm/what_realtor_will_sell_a_apartment_building/

Bought a house on 2021 and we are now looking to upgrade. The current house is 3,500 sq ft built in 2003. Bought for $720k with 2.25% interest rate. Two recent comps but the house at $1.05M. Family: 33 and 32 y/o dual income. 3 kids (5,4,2). No need for further education (Both have Masters) Financial Picture: $19k net a month (includes annual bonuses) No debt (new cars in 22 and 23), Retirement savings on track College for kids is on track. Daycare costs ending in 2 years ($4.5k a month) We want a house that is newer, a little bigger and better quality overall. Looking at $1.3m to $1.4m Is there any strategy to be able to bring my 2.25% interest rate with me to the new house? submitted by /u/Adventurous_End_9445 [link] [comments] source https://www.reddit.com/r/RealEstate/comments/186nuj7/take_my_interest_with_me/

submitted by /u/Silly_Show_9077 [link] [comments] source https://www.reddit.com/r/RealEstate/comments/186lyj1/hola_a_todos_una_pregunta_si_he_ganado_11000_por/

I reached out to my lender as I am sure my home has increased in value in the last two years to the tune of an extra 10% in equity. I put 12% down. Using my simple person math I estimate I now have 22% equity and want to remove my PMI. When I reached out to my mortgage company they stated I need am LTV of 75%? I thought all that mattered was that I held 20% equity of my home or more to remove PMI. submitted by /u/abebrahamgo [link] [comments] source https://www.reddit.com/r/RealEstate/comments/186jkik/lender_requires_75_ltv_to_remove_pmi/

Hi, I have just bought my first house (had notification on sale) and it’s all with solicitors. My partner just drove past and said next door had signs up saying ‘deep excavation’. Should I be concerned ? It’s not on my house obviously but will it affect anything ? submitted by /u/Infamous_Ad_681 [link] [comments] source https://www.reddit.com/r/RealEstate/comments/185ujvu/deep_excavation_next_door_sign/

Hi, looking for advice here. I am married in CA and am about to close on my first investment property (located in Texas) in 2 days. I’m buying the house entirely on my own and I am the only one on the mortgage. My husband has no interest in ownership of the house. Our marriage has been rocky so divorce in the future is not unlikely. I know CA is a community property state, meaning he will be entitled to half of the house in case of divorce, so I would like to get advice on what I can do to protect this asset. My husband has already agreed to sign off on the house and grant me sole ownership, so it is just a matter of figuring out the legal steps to do that. I did some research and seems like a quitclaim deed is what I need? Does anyone have experience/advice on that? The notary is coming in 2 days to finalize closing, so is that a good time to also get the quitclaim notarized or should I wait until the house is officially in our title to start the quitclaim process? submitted b...

TL;DR - Tried getting a look at the foundation, and nothing came back. Panicked and moved forward, now regretting my decision. Can I get my EMD back? Closing date is suppose to be Thursday, November 30th. Story time: Newish Long Distance Investor. My capital is quite limited. I put an offer, which was accepted. I got an inspection report. Amongst other things, there was a portion of the house where it was sunk and the foundation was messed up. Also, my inspector said that he suspects there's standing water below the housing due to mosquitoes coming out from the bottom. The weather on the day of the inspection was low 45 degrees Fahrenheit, high 72 degrees Fahrenheit. The inspector noted that they were unable to gain access to the foundation. I communicated with my realtor, asking for one: an inspection extension, and two: access to the foundation so I can get a quote on any possible rehab. Realtor responded with "It's been requested." I communicated with a GC to...

I watch a lot of cable news entertainment. The mantra “higher for longer” is repeated virtually daily. When the Federal Reserve a year ago said “lower forever” and then went ahead and raised interest rates the fastest in history, it was like, of course they had to because they gone and fucked up. But now, since the Fed said “higher for longer”, it’s suddenly the Gospel of Jesus Christ and I guess we have to deal with higher for longer. What am I missing here? These are the same people who pivoted on a dime like 10 seconds ago right? And now it’s higher for longer. C’mon. submitted by /u/DKC_TheBrainSupreme [link] [comments] source https://www.reddit.com/r/RealEstate/comments/184wkd4/higher_for_longer/

submitted by /u/Quick-Marionberry-34 [link] [comments] source https://www.reddit.com/r/RealEstate/comments/1848nxl/what_are_people_getting_for_30_year_or_20_year/

What type of commisions are realtors getting today? submitted by /u/rockyroad2a [link] [comments] source https://www.reddit.com/r/RealEstate/comments/1845buy/realtor_commision_new_jersey_us/

I'm 52, retired from the Army and I receive $53k in retirement income for life (with COLA adjustments each year). I have $50k in savings spread out among several CDs generating $200/month in additional income. I have no debt other than everyday expenses, free health care for life and no dependents outside of looking after my elderly mother. Here is my dilemma. I have a 497 FICO score. Even with my VA Home Loan Guaranty, no bank or mortgage lender will approve me for a home loan. Even if I did find a lender, the interest rate would be insanely high. It doesn't matter what the VA does and does not require like no down payment or minimum credit score requirement, banks still provide the financing and do require a down payment and minimum credit score - Veterans with good credit can take advantage of the no down payment requirement. My question is should I just rent a nice little house in a MCOL city by paying a years' worth of rent upfront to get past my credit score issue...

Good evening. Looking for a way to invest in something without throwing in my entire paycheck. It probably isn't possible so I decided to search the web and discovered a few sites promoting this idea where you can invest in real estate with just $20. It sounded too good to be true submitted by /u/Successful-Sky4411 [link] [comments] source https://www.reddit.com/r/RealEstate/comments/183gz9f/is_there_truly_a_way_to_invest_in_real_estate/

Buying my first home. Realtor that i have an agreement with told me that i have to give him my social security number and driver license. He said it was standard protocol. I found out later that i could have given this information myself to the title company, which seems to be the sole reason why he would need this info. Now him and his realtor company have my private info. I am worried about it being compromised. I would have felt more comfortable furnishing this information myself to the necessary parties that need this sensitive info. submitted by /u/vahelp1 [link] [comments] source https://www.reddit.com/r/RealEstate/comments/183gxrg/realtor_has_my_social_security_number/

Hopefully this is an ok place to put this. I’m doing some research on how online presence/marketing affects a home buyers view on realtors. I would be so thankful to anyone who could fill out this super quick survey 🙌🏻 as I’m currently working on my degree and need this for a research project. Tyia! https://forms.gle/zFjJmdU6mcWTn4Zi9 submitted by /u/cnm98 [link] [comments] source https://www.reddit.com/r/RealEstate/comments/183f7z1/doing_some_research_on_realtor_online_presence/

Hypothetically if you were a college student living with your parents and wanted to invest around 50k into the real estate market, how would you do it? Maybe a studio apartment in the 250 - 300 range?What are some other options? Hypothetically. ​ Edit: I know we're all on reddit super angry that we've been priced out of the market and people with more money than us are making even more money than us investing in real estate but i'm asking a HYPOTHETICAL question. Some actual ideas or reasons why this won't work would be interesting to read and learn from, thanks. submitted by /u/JV152 [link] [comments] source https://www.reddit.com/r/RealEstate/comments/182mun8/how_would_you_invest_50k_into_the_los_angeles/

I just bought a house with Century and I am just having problems after problem with what they built. Yes I have been using my warranty but I just feel like I am having constant problems. The first is I just got internet access after 3 months of living here, but now with internet access I find out that the houses Ethernet infrastructure is all not working. I have already had things mis wired, people not following through when warranty issues are being followed up on. Constant mistakes when coming to fix things through my warranty. Is this a common issue with Century Communities? Also I couldn't find a specific subreddit for the builder but I saw other posts about the builder here so I figured that this would be the best place to post. submitted by /u/tmanbisch [link] [comments] source https://www.reddit.com/r/RealEstate/comments/181y02a/century_communities/

Hi, I need some advice please. I have an income of 92k annually ($7,666 monthly) and recently paid of my car loan which had to a balance of 30k on it leaving me zero debts monthly I would like to purchase with a purchase value of $535,000. For this home I plan on making a down-payment of $60,000. Considering today's interest rate, I would really like to know how possible this would be Thank you. submitted by /u/Potential-Pitch-6099 [link] [comments] source https://www.reddit.com/r/RealEstate/comments/181x4sx/how_much_mortgage_can_i_afford_considering_the/

Title says the bottom line question. Not a modular- axles were removed and it's tied down. Looking for any and all advice, experience, knowledge. TIA Details: 26 y/o, rural town in California. Relocating isn't possible as our business is here. Looking to buy first home. Looking to either make it a rental in the future, or improve & resell. Stick-builts are a hard market. Options 350k or less all need major upgrades/repairs to be comfortable. There is a manufactured for sale on 5 acres w/creek, permanent foundation (crawl space), with a 1b1b ADU. Manufactured was placed in 2001 by the contractor who lived there, and has lived there since. Well maintained, doesn't look its age. Needs some TLC. It has a gabled roof, ensuite bath, small walk in closet, added deck, and spaced well enough away from ADU. Am I crazy to consider this? What would reselling look like in 10 to 40 years? Would financing be possible once it's over 30 years? Would renting the MFG and AD...

If a property manager Doesn’t show on the day of a planned routine rental inspection, can they just rock up the next day or do they have to organise another time with notice? Have been home all day leaving messages and emails to get in contact with no response. submitted by /u/Mysterious_Resident2 [link] [comments] source https://www.reddit.com/r/RealEstate/comments/181v4dp/just_wondering/

So, I have had two agents walk through my property and both tell me it should sell for 600-650k. They supplied their comps independently to back up their figures using sold price per square foot and the sales price per acre of land. A bank, who uses an automated appraisal software at first, just spit back 456k. Because of the enormous difference a regular appraiser will be coming out to my house. Is this normal??? If this thousendoesnt appraise for at least 600k, I will not be selling. submitted by /u/Borgus222 [link] [comments] source https://www.reddit.com/r/RealEstate/comments/18177li/appraisals/

First time home buyer. Does this mean the seller’s agent is also getting 0.5%? My agent told me she wants to negotiate so she can get 2.5%. Should I agree to this? submitted by /u/pizzafio [link] [comments] source https://www.reddit.com/r/RealEstate/comments/1813yly/buyers_compensation_05/

Hey everyone, Earlier this year I was helping my parents buy a home, and I found reading through the disclosures to be extremely time-consuming and tedious. Now that GPT supports attachments, I created a GPT that (given a disclosure) can summarize what's going on, identify red flags to take a closer look at, and of course answer any additional questions an interested home buyer/seller might have. I found out that good agents are supposed to help out with analyzing and explaining disclosures, so to all realtors out there, would a tool like this be helpful in delivering a better experience for your clients? Would love feedback and thoughts! Here's the GPT: https://chat.openai.com/g/g-pGdvdAg7E-disclosure-analysis submitted by /u/Worth_Independence99 [link] [comments] source https://www.reddit.com/r/RealEstate/comments/1813sx0/thoughts_on_using_gpt_to_analyze_and_explain/

I have been reasonably successful in life and I’m in a position to be able to assist my young adult children in buying their first homes. I already helped one and am in the process of helping the second. I was out at open housing looking at true starter homes. (I’m not helping them get anything outrageous. I wasn’t that successful.). But I was looking at the young couples at some of the open houses and they appeared as though these starter homes would be an absolute stretch for them to afford. Made me wonder if I am part of the problem by giving my kids a leg up over these other people that are struggling and don’t have access to a parent willing to help. I hate the concept of “privilege” because I feel I did things without assistance. But… it’s tough to not feel like my kids have an unfair advantage by birth. Should I feel any guilt? Or is that just how the world works? submitted by /u/Sudden-Yak-6988 [link] [comments] source https://www.reddit.com/r/RealEstate/comments/1...

I made the decision to submit the extension. I would like to submit the extension, I’m not asking her, I’m telling her. How do I say this? submitted by /u/illjustbemyself [link] [comments] source https://www.reddit.com/r/RealEstate/comments/180dl7j/i_asked_my_realtor_for_the_form_to_extend_the/

I’m closing on my first property in 2 weeks and my LO just requested proof of lease termination and verification of funds for closing. This is the final requirement for clear to close. My apartment management company requires 60 day notice and 1700 early termination fee. I planned on subletting the apartment however, the manager denied it. Not sure what to do or expect at this point. submitted by /u/Intelligent-Bug3006 [link] [comments] source https://www.reddit.com/r/RealEstate/comments/180c84v/will_my_loan_be_denied/

I've been racking my brain for a week on what to do. Divorced mom age 51 2 kids 19/15. I bought my house new 10 years ago cheap, financed a few years ago at 3%. I love this house but sick of the neighborhood and its a cluster home so I have no private drive way..only a 2 car garage...only a sideyard..sick of 2 story....neighorhood is mostly renters and investors with no pride of ownership..HOA dues go up every year and the few owners that live here have to put up with all the renters and nonsense.excellent location in high demand very safe suburb in AZ...only 2 houses for sale in my neighborhood including mine the other is way overpriced. House has been for sale for almost 2 weeks and some traffic but slow only 1 showing last week and she was in and out in 5 min ...price point is great for city...its a big rare floorplan too....rent would be $2500 if i keep it..mortgage is 1050....I really want to buy a new build with a financing incentive I have my eye on but the only way to affo...

I know nobody certainly knows but what is your best guess on what would need to happen to correct home prices being disproportionately high compared to household income and interest rates being high as well? I live in Boston and there aren’t many options for buyers at the moment either. Plus people locked in their old rates are less willing to sell. I see it hard for home prices to go down with this situation but I mean something has to give right? Or else home prices will keep going up, interest rates stay high and salaries not yet high enough? Recession maybe? submitted by /u/Deep_Woodpecker_2688 [link] [comments] source https://www.reddit.com/r/RealEstate/comments/17znmbq/what_do_you_guys_think_will_happen_to_correct_the/

I would like to buy a little house somewhere in the EU where there is a lot of nature and it's affordable. Doesn't have to be fancy, the most important thing is that there is a lot of nature around. I don't know where to start looking. submitted by /u/amataveritasmd [link] [comments] source https://www.reddit.com/r/RealEstate/comments/17znlgk/do_you_have_an_advice_where_i_can_buy_a_little/

tl;dr: new fridge is dead the week of closing. How to address as buyer without delaying things? Hey everyone! We’re under contract to purchase a home (closing is at the end of this week) and the sellers called our agent to let them know that the fridge is dead. It was upgraded this summer (mid-high end, probably 4k new) and is under warranty. But, given the holidays, there is no chance of getting someone to look at it for a few weeks at the earliest. The sellers seem pretty reasonable (family moving unexpectedly for work after ~10 years in the home) and the house has a small basement fridge we can use temporarily while getting this one repaired or replaced. We have both an agent and real estate attorney, but what would folks here ask for in order to make sure there we don’t get stuck with the repair or replacement costs? Thanks! submitted by /u/youkidsareweird [link] [comments] source https://www.reddit.com/r/RealEstate/comments/17zl1mn/fridge_failure_a_week_before_closi...

We listed after Labor Day. Have had open houses every weekend. Discovered the agent posted no signage near our condo buildings or in the lobby. Insisted that open houses be at least 90 minutes. They were just an hour. NYC reacts well to direct mail when there are new listings. We were promised a nailed after we listed. Didn’t happen. When we did a 5% price reduction a few weeks ago. Didn’t happen. Finally when a similar apartment across the hall went on the market with a gorgeous mailer, oh, finally, we get a mailer, days before Thanksgiving as we consider going off the market. Any advice here? We are under contract a few more months and the only thing the broker is pushing is lowering price. Any recommendations as our market goes from slow to slower? submitted by /u/scott11101 [link] [comments] source https://www.reddit.com/r/RealEstate/comments/17yy57v/unmotivated_broker/

My partner and I reached out to a real estate agent who gave us the number of a lender they recommend because we’re looking to buy a new home. I worked with the lender to get a quote, and they’re working on an approval now. Im now getting a massive amount of calls and texts from other lenders all saying they can get cheaper rates/fees for us. One said that “the credit bureaus notify smaller lenders when a credit report has been pulled by a lender that will charge high fees and interest”, saying they think we should work with them. I just don’t want us taken advantage of. Should I be shopping around with lenders or go with what our agent recommends? submitted by /u/Daddy_urp [link] [comments] source https://www.reddit.com/r/RealEstate/comments/17ywrkw/getting_a_massive_amount_of_messages/

I'm currently in escrow for a probate property in Los Angeles, CA that was originally full authority but is now requiring court confirmation. Originally the hearing was supposed to be November 13 but it didn't. The seller's side said the objecting beneficiary filing other petitions caused a delay, and they needed more time for the publication. I believe both excuses are false (proof of publication was filed October 30 and the court already gave an "ok to set" for confirmation hearing) and their attorney just didn't file the petition. Anyway, the hearing is now supposed to be held on December 7 but the petition still hasn't been filed and I have yet to receive a notice from the seller regarding the hearing information. Is there any way I can force the seller to perform or for their attorney to file the petition? submitted by /u/premiumrich [link] [comments] source https://www.reddit.com/r/RealEstate/comments/17yucll/ca_sellers_attorney_is_laggi...

Hello, I've been in the process of trying to get a mortgage for a home located in a community land trust. The home is located in PA. It is a newer, beautiful home located near the waterfront that is very affordable due to it being part of this trust. Basically how the situation works is the trust owns all the land in the community, but an individual owns the house that is built on the land. Every lot owner in the community owns an equal share of the trust (not owned by a large corporation or anything). Most owners have either paid with cash or a home-equity loan, which I'm unfortunately not able to do being a first time home buyer. The frustrating thing is no lender will touch it due to the collateral issue, and it doesn't qualify for Fannie Mae as there is no grounds lease for the property. I've probably gone through a couple dozen lenders so far and made it to various stages, but nothing was ever official. In terms of the financials, the sales agreement for the hom...

I’m in NJ, in a suburban commuter town (train to NYC is about 1 hour)l The houses around me (and in general the northern part of the state) have been selling over asking. There also have been several homes torn down and built with larger ones lately. I purchased the home about 10 years ago, but have not been able to keep up with the maintenance (job loss+crippling depression). I was cold-called by a realtor whose clients lost a bid on a house around the corner from me. I spoke with her and explained the situation and gave her a basic rundown of some of the issues with the house. She will coming for a tour in 2 weeks. Does anyone have some tips or red-flags that I should be aware of? This is my first house and I’m not really sure what to do next. The issues range from cosmetic (paint and drywall patches, ugly old wall to wall carpet in bedrooms, to major-definitely needs new roof). I want out, but I don’t want to get screwed over in the process. I can do minor repairs, but can’t afford...

I am currently in a mess with my deceased ex husband’s kids. My ex and I divorced in May of 2023 and he died September 2023. We owned two houses together. House A was awarded to him and House B was awarded to me. I got a job offer I couldn’t refuse to begin in September across the country. We talked about him buying me out of House B. I wrote up a rent to own agreement via rocketlawyer which listed a deposit of $75k with option to purchase at the end of the lease (august 2024.) He wrote me a check and I moved across the country. He made 1 mortgage payment on the house before he passed. Because all of this happened so fast, both of our names are still on both of the houses deeds and mortgages (joint w/survivorship which converts to joint w/tenancy upon divorce in AZ.) Upon his death the kids went through House B and took refrigerators, washer and dryer and all of the furniture (I left it furnished for him.) They also took his cars (part of his estate) but that’s none of my business. I...

A house where I live costs about 10x more than an equivalent house does in Texas. So wouldn’t it make sense to just buy some land and build on it? ELI5 submitted by /u/BurnTheBoats- [link] [comments] source https://www.reddit.com/r/RealEstate/comments/17y1s6a/why_dont_people_just_build_a_house/

My husband and I have been wanting to buy a home and our loan officer just told us we need to save up to afford our closing costs and down payment and that we should be able to buy something once more homes become available in the spring? How likely is this? I’ve been reading that some homes maybe be available, yes, but demand will just drive the prices up again and we can only afford so little as it is. Our stats: Loan we can afford: $200K Location: Northern Va, but willing to move 2 hours out from DC Household Income: $70K Debt: $25K Dependents: 2 Type of home we want: single home, 2 bed 2 bath, 5 acres of land (which our realtor said is unrealistic for our price range) Should we just bite the bullet now and move out of my in laws and rent an apartment and wait another year to look to buy? submitted by /u/Notlivingthedream3 [link] [comments] source https://www.reddit.com/r/RealEstate/comments/17xcg08/housing_market_in_spring_2024/

More experienced folks, please help me think through this timeline. I'm being relocated from my current overseas office back to the US, and need to be out of here between July 1-14 2024. My family is moving home permanently, so we'll want to buy -- but I am taking a secondment to another organization, which for complicated government bureaucracy reasons means I'm technically resigning from my current job with full re-employment rights, and starting a new job with the secondment org for 1-3 years and then going back to my home organization. My pay stays relatively the same, but I understand that for mortgage purposes it'll be seen as a new job. When do I need to start actively looking at houses, in order to close before the July deadline? When do I start with the mortgage pre-app process? How long is this all taking given the current market? What else might I not be thinking through right now that I need to be aware of, given that we haven't owned a home since 201...

Hi all, Is anyone here a PM or has experience in the space? Wondering how you handle hiring vendors and managing RFQs. Even if you have a preferred vendors list, how do you make sure you’re getting the best price? Do you use any software solutions to manage bigger maintenance jobs? Thanks! submitted by /u/determinedwanderer [link] [comments] source https://www.reddit.com/r/RealEstate/comments/17w9tol/property_management_question/

I want to learn from others, what’s the most frustrating thing to happen to you while selling your home? submitted by /u/Think2muchalready [link] [comments] source https://www.reddit.com/r/RealEstate/comments/17wdy3y/whats_the_most_frustrating_thing_to_happen_to_you/

How safe is it to keep put the house under a land trust under this company? I was wondering that if this company itself shuts down or files for bankruptcy, my home is gone too? Is this possible? submitted by /u/_Karachi [link] [comments] source https://www.reddit.com/r/RealEstate/comments/17vttck/chicago_title_land_trust_company/

I have been working on getting my real-estate license but i cant tell you how discouraged looking at this lawsuit thats going on currently at the moment. just wondering y’alls thoughts and opinions on whats going on. submitted by /u/SuddenYesterday4333 [link] [comments] source https://www.reddit.com/r/RealEstate/comments/17vtdn9/realestate_lawsuit/

Hi everyone, I'm excited to share a unique opportunity for forward-thinking real estate agents in this group. I have developed a new A/B testing tool well suited for the real estate market, and we're looking for early adopters to give it a try – absolutely free! What's in it for you? Enhance Conversion Rates: Test different headlines, content, strategies on your listings to see what works best in real-world scenarios. Data-Driven Insights: Gain valuable insights into your clients' preferences and behaviors. Stay Ahead of the Competition: Utilize cutting-edge technology to boost your listings and client engagement. What we ask in return: Feedback: Your honest feedback will be invaluable in helping us refine and improve the tool. Case Studies: If you're open to it, we'd love to feature your success stories as case studies (with your consent, of course). How to join: Simply comment below or DM me to express your interest. We'll provide you w...

submitted by /u/QuitNew5089 [link] [comments] source https://www.reddit.com/r/RealEstate/comments/17vot2p/need_help_have_questions_can_anyone_please_help/

say you make an offer through your realtor and go through all the paperwork and think you're sending your cash downpayment to a real homeowner only to find out that you got scammed and just sent the downpayment to a scammer. how are you meant to recover your money in this case? is your money just gone? is your realtor responsible to pay you the downpayment money back? submitted by /u/Ok_News_406 [link] [comments] source https://www.reddit.com/r/RealEstate/comments/17uzkbw/us_if_you_try_to_buy_a_house_but_its_a_scam_and/

I read somewhere that there is something legally binding you to use the realtor who showed you the house. Is this true? Is the realtor refusing to submit a 'lowball' offer enough to break free from the 'binds'? submitted by /u/Ok_News_406 [link] [comments] source https://www.reddit.com/r/RealEstate/comments/17uz3l3/us_if_a_realtor_showed_me_a_house_i_like_but/

I'm arguing with a new home builder about a lot of dead/damaged/destroyed grass on the lot they want me to close on this week. They have offered to rip up all the dead parts and give me new sod. This raises the question, why did they even lay the sod two months ago? Why not just put the sod in at the very last minute? submitted by /u/OrneryLitigator [link] [comments] source https://www.reddit.com/r/RealEstate/comments/17uwizf/why_dont_new_home_builders_just_lay_all_the_sod_a/

I’m thinking about closing off a room from interior access to the home and setting it up like a studio apartment with exterior access only. This would be for my adult son to “rent”. I would also be adding a toilet and shower to the room. On paper does this technically change anything or would it still be considered a 4br/2bath (3 with the additional toilet and shower?) single family home? Home is located in Texas. Let me know if this makes sense. submitted by /u/NectarineSevere6686 [link] [comments] source https://www.reddit.com/r/RealEstate/comments/17ub2yt/closing_off_a_room_question/

We listed with a company and found a house that was listed under the same company but a different office/location. We asked our agent if he knew this person and he told us he didn’t. (They are friends on fb and have commented on each others posts.. mhmm) We ended up putting in an offer for asking price. Our agent was upset that we didn’t put in an escalation clause up to our max amount (so potentially $60k above asking). Tried for several minutes to convince us to do this and basically hung up on us when we said no. House sold for 5k over asking… The whole situation seemed off to me. Is it possible both agents tried to get buyers to put in escalation clauses? submitted by /u/Li2_lCO3 [link] [comments] source https://www.reddit.com/r/RealEstate/comments/17uacls/do_agents_talk/

I wonder what kind of use cases ChatGPT is used by real estate agents? submitted by /u/sarathy1988 [link] [comments] source https://www.reddit.com/r/RealEstate/comments/17u841a/chatgpt_in_realestate/

I'm 20 and currently in college. Parents bought me a studio apartment that I'm staying in. Currently I'm renting from them, but they say they're willing to transfer the apartment to me if I pay all the expenses (For they're currently operating it at a loss). The studio apartment is worth just around 90k. The mortgage I'd be paying down is around 60k. I have 21k in savings. My question is, if I want to one day be wealthy, should I put my money towards a new down payment for a rental property in the future? OR should I just play it safe and pay off a big part of the mortgage on my property? I don't really know how to navigate all this... I've never done any real estate stuff before. submitted by /u/Adam_Goth [link] [comments] source https://www.reddit.com/r/RealEstate/comments/17u5832/20_and_being_given_an_studio_apartment_by_parents/

I have 15 year mortgage on a condo outside of NYC that I rent out for $2300. Mortgage + property taxes + HOA fee comes out to be $3028. I closed on a new property that I share with my fiancé. Mortgage and property taxes on the new place is $4750. Does it make sense to keep renting out my condo or sell as soon as the tenant’s lease is over? My total comp is around 250k. submitted by /u/zero_gc [link] [comments] source https://www.reddit.com/r/RealEstate/comments/17tl6qw/does_it_make_sense_to_sell_or_continue_renting_out/

I posted two days ago about how the driveway on a new build home I'm supposed to buy this week is two different colors: https://old.reddit.com/r/RealEstate/comments/17sx27d/is_it_petty_for_me_to_expect_the_driveway_on_a/ That's because the builder poured the driveway, then ripped up the right half of it due to utilities access issues, then re-poured that half weeks later, presumably with a different mix. The two halves are thus different colors. The comments I got were incredibly helpful. I'm deeply indebted to everyone who took the time to comment. The consensus of the replies seemed to be that this two toned driveway is not normal or generally acceptable in the building/real estate world. I have a greater concern about the landscaping. Landscaping and sprinklers are included under the contract. I visited the property Thursday after it rained a bit. I was dismayed to see a lot of mud, puddles, and dead sod/grass. I made a quick one and half minute video of my walk a...

Buying Old house ( built 1920) within budget. Great neighborhood and school district to raise kids. Check all the boxes that I need. Looks well maintained. 1. Fresh paint observed. Since its build before 1970. Should i be worried for lead poisioning? 2. Leakage in boiler room. Contractor states its a quick fix and no problem. 3. Moldy wall in one of the cabinet in closet. Inspector stated its not big deal and easy fix 4. Termite activities suspected in boiler room. As per inspector- not so expensive to fix 5. Sewer line inspection awating 6. Radon level 2.7 in basement. Should i do mitigation. But states says not mandatory I want this house so bad.. But dont wanna buy in rush. All the houses around 1920 to 1930 are being sold 100k more than what we are buying. Please Advise. submitted by /u/One_Cow_1505 [link] [comments] source https://www.reddit.com/r/RealEstate/comments/17ti3ek/buying_older_house_1920_near_to_nyc_and_within/

If you are a loan officer or intimately familiar with the home loan process I could really use your advice. Sorry for the long post. TLDR: I exclusively do contract work and I have periods of time where on paper it looks like I'm unemployed, even though I have steady income history and tons of job opportunity. How does this look to a loan officer and how do I convince them to approve me for a loan? I (27M) originally thought getting a loan would be an easy process, but I'm beginning to have some doubts. I have never bought a home. I have zero debt, and about 50K in the bank. Optimally I'd like to buy a duplex or triplex by sometime late next summer or early fall (August-October of 2024) with about 100K down and a budget of about 400-500K (that would be max, I'd love to get a bit of a fixer-upper for cheaper). For the areas I'm looking (Indiana, Ohio, Tennessee), preliminary research seems like this is a very feasible plan. For my personal finances, I have had o...

Our agent presented us with a full price cash offer with a quick close. In the deposit section, contract stated buyer would deposit full purchase price as the deposit, wired to the escrow agent within 3 days. On day three, no funds. Escrow agent told us the seller’s agent said there was a problem with the wire and that it was forthcoming. Our real estate agent also reassured us. We waited. Meanwhile, our house is off the market. Four days passed, and we finally demanded an explanation. We asked our agent what proof of funds she had received from sellers agent. She said she was given verbal assurance that they had the full amount and got confirmation from their banks only that they are an account holders because of privacy laws. They did not pursue it. Our agent told us none of this. The escrow agent also told us that, according to the buyers, obtaining the wire from their account at Schwab was delayed because of a nationwide hack. I have three Schwab accounts and received no such noti...

Trying to determine what the best wealth creation decision will be? Situation: Were just about to finish closing on a new upgraded home (B) to live in, however still own our first home (A). We are debating renting out or selling home A. Were not sure if the wealth creation from renting home A is worth becoming a landlord. Stats: Home B: $1.5M, with 20% down, at 6.7% ARM (7 years). Home A: Market value $625k, $405k and 27 years left on the mortgage at 3.15%. Property tax $8k, HOA dues $600\year, insurance $1.7k\year. Its a 30 year old home where weve already made some maintenance investments (new roof, new appliances). Not expecting major repairs, but lets assume $6k\year at 1% of the home value? Option A: Based on comps, we should be able to rent our home out for $3800-$4200\month (good school district, low inventory for single family homes in the area). We would eventually sell once our equity gets higher, interest rates drop (which we believe will trigger a higher purchase price...

Looking for forever home that does not need major renovations on $300k budget in Minnesota. These parameters seem to leave me with two options: a suburban townhome or a rural single-family home. I like the low maintenance aspect of a townhome, as well as low insurance and taxes, but I dislike how HOA fees will only continue to rise as years go by. Also dislike shared walls and being so close to neighbors. I like the privacy, yard, and appreciation potential of a SFH, but am concerned about rural school districts (may need special education for one kid) as well as living in the middle of nowhere with kids. Job is currently remote, but no guarantee it will remain that way. I am currently living in a suburban townhome in a good school district 30 minutes from company HQ, but it is a dark, interior unit with no yard. If I move to another townhome, it would have to be an end unit with a yard. If you had to choose between a suburban townhome and a rural single-family home, which would y...

Im approved for 150k. I got a substantial down payment amount as well. Can I get the approval done in CA and use it to buy in Chicago? submitted by /u/TotalRecallsABitch [link] [comments] source https://www.reddit.com/r/RealEstate/comments/17spuq7/can_i_use_my_california_preapproval_for_illinois/

I’m currently going through the process of divorce, and I was looking for some advice when it came to a rental house we have. She is willing to let me pay for her half, but we currently have a 2.5% interest rate and with how high interest rates are, it would be a hefty price difference when I refinance to remove her from the title. Net worth is around $100K and we refinanced it in Sept 2020. The rental income is currently $2,645, with the property manager taking 185 (7%), and mortgage almost $1.6K; meaning not accounting for other expenses, we pull about $860 per month. Assuming the new APR for Texas would be around 7%, the estimated price of the total mortgage (tax/insurance included) after refinancing would be around $2.2K. Leaving about 260 per month, but that doesn’t account for repairs, vacancies, etc. I have an 800 credit but I might have to do a cash-out refinance or something to pay her the estimated $50K she would be owed, unless we agree on paying her the $50K over time. I...

submitted by /u/AskSushantGandhi [link] [comments] source https://www.reddit.com/r/RealEstate/comments/17rz53h/what_is_the_most_creative_or_effective_estate/

As the title says, I'm 19 being forced into buying a $200,000 home. TL:DR I need a lot of instruction on what steps to take as a first home buyer since I truly know NOTHING about how to do this. I'm living in a rent to own house with my mom. We're under a 4 year lease and we have about 5 more months before we are expected to buy. I knew when we moved in I would be co-signing on the property in 3 years time. Everything took a really bad turn several months ago when my mom and landlord rewrote the lease double the price. I wasn't informed of this extreme change until 3 months after this occurred. My mom has since left her job and I have been practically the sole provider since. In the past 3 years I have put a lot of effort into fixing up this house and I simply cannot leave as it meets a lot of necessities. My mom wants to be as helpful as she can but I can tell she is extremely lost and is too distracted to really figure this out with me. I just need some help from h...

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This is a dumb question that other people Im sure want to know the answer to as well. I'm in the VERY ground level phase of learning about commercial real estate. Figure if I'm trying to learn about it, it's going to collapse around here soon... I found a listing for an apartment building that makes me want to learn how to "do the numbers" to see if it's a good deal or not. Located in small town NE, about 30 miles from a big population center. One of those "cute" small towns that are beginning to see some life again. They are asking 168K. County assesses at 121.5K ...there was a big drop from 1 year to the next. Built in 1880. On main street. Flat roof looks well maintained based on google maps. No comps. Commercial on the bottom (not rented) - 1600 Sq/ft. Said he can get $650 out of it. I'm skeptical honestly. I would use it for my business and pay rent to myself. 1 bed/1 bath apartment (rented, $420) 2 bed/1 bath (rented, $700) 2 bed/1 ...

Our agent says that most home sales in our area happen in January, so she's encouraging us to go off market now and re-list at the beginning of January. I'm just wondering if that's really the best month to list, because I've always read that late Spring is better (it's a 5 bedroom family home in a good school district). We would take the break as an opportunity to finish out some areas on the basement that we'll want to finish if we do end up keeping the house, but also hope those updates would improve the home value for interested buyers. submitted by /u/ImpossibleLuckDragon [link] [comments] source https://www.reddit.com/r/RealEstate/comments/17r8fpe/our_agent_wants_us_to_relist_in_january_is_that/

My husband and I make about $375k combined income. He purchased the 2000 sq foot end unit townhome that we live in long before I met him for $220k now worth about $460k as that is what the smaller middle unit sold for recently. We have made renovations to this place since we got married. It’s a great property in a nice town way out in the suburbs. Before COVID I was working in downtown Boston to get there I need to drive to the center of our town jump on a town shuttle to the local commuter rail(25 min) take the commuter rail 1 hour 15 min to North station. Switch to the orange line for 3 stops and walk about 5 min to my office. If I hit everything right my commute was 1 hour 44 min. Coming home was a different story. I often had meetings until 5pm and by the time I left the office got to north station the next commuter rail was like 6:14 or 6:45. Then I would have to wait and I would eventually get back to the commuter rail stop around 7:30/8. The town shuttle no longer operates a...

This is our first time buying a house and we are in escrow for a new build that is 95% done. It just need the AC unit put in plus some finishing touches. The inspection is tomorrow and the seller (also the builder) wants to add this to our agreement: "seller agrees to address and remedy all items from the inspection reports that are not up to state industry building standards. Work to be completed prior to closing. If there are still items that need to be completed after closing, seller to leave $5,000 in escrow until completed. Upon buyer receipt of inspection reports, buyer to remove the inspection contingency and agree to release $10,000 of earnest money to seller and deemed non-refundable." Any glaring issues with signing this? I'm assuming the seller just wants to make sure we won't back out over something small/fixable? The builder is a local builder that's been in the business for 30+ years. submitted by /u/helpnadviceneededpls [link] [comments...

My brother and I do not get along or should I say despise each other. My parents are getting old and I’m not sure what’s the best way to go about splitting up parents home that they want for the both of us to have. While my parents are still alive, would it be wise to have my brother buy my portion out and he can keep the house now? My portion would be 500k, he would give me 200k upfront and owe me 300k w 3.5 interest for 30yrs. Or should we do a living trust and only obtain our portions when my parents pass. First option sounds nice to have liquid cash right now, but he would inherit my parents low property tax for that house and pretty much live in the house for dirt cheap while I have to pay so much property tax for my current house. It’s not fair that they keep the house while I have to go find another house and pay high interest rates plus property tax. Not to mention, him owing me 300k at 3.5% interest rate over 30 years when he inherits after 6-7 years. It’s not fair for him...

I just found out that there is a small piece of land(.10 acres) between my house and my neighbors. It looks like my property and anyone looking at the home would assume it’s mine as well. I’ll try not to dive too deep but what I have gathered is that the original owner of my house also owned this small piece of land. For some reason, it appears they divided this piece of land and it was willed to an heir separately from the home I now own. Also, the land has been delinquent on taxes for over a decade. 1) Could this be a mistake as the land is essentially useless to someone who doesn’t own either me or my neighbors property? 2) If not, why the heck would someone do something like this? This more out of pure curiosity. 3) Is there anything I can legally do to claim this piece of land, especially since they are delinquent on taxes? Any advice would be appreciated. submitted by /u/Big-Business1921 [link] [comments] source https://www.reddit.com/r/RealEstate/comments/17qi4m...

We are starting to look for something in the 600-800K range within 30-40 mins drive of my partner's workplace in downtown Boston. There seems to be more inventory now than over the summer - any chance prices might be dropping? submitted by /u/InferiorityComplex95 [link] [comments] source https://www.reddit.com/r/RealEstate/comments/17psus4/whats_the_state_of_the_market_in_massachusetts/