My husband and I recently inherited my mothers home. We need to buy my brother out of his share of the house, so we hired a home appraiser. The woman has been rather flippant, and after a month of waiting for her, she said she gave it to our lawyer two weeks ago. This bothers me for a few reasons, the lawyer had nothing to do with this, the will had already been through probate, but also she never gave us any information or even told us it was completed. I emailed her this evening asking for more information and she just said “the real estate value of your home is x”. Because I’m not familiar with any of this, should we actually be getting a report? What should it list? I paid this woman $400, and for that I was hoping I would be getting slightly more than a one sentence email. submitted by /u/persephonenyc [link] [comments] source https://www.reddit.com/r/RealEstate/comments/cj5kks/home_appraisal_question/

My husband and I are both veterans. We used my VA loan to purchase our current primary residence. In Decemeber, we will be coming up to two years living here. We want to move to a different state for employment (same company, different position). Do we need to refinance our current residence? Can we just use my husbands VA loan benefits and keep our current residence as a VA loan? Or if we refinance, can we use my VA benefit again? I am receiving disability pay so our funding fee is waived. Is that a one time deal? Thanks. submitted by /u/nunyabiz428 [link] [comments] source https://www.reddit.com/r/RealEstate/comments/cj5i88/va_loan_questions/

What's up everybody! First time posting in this sub and I'm hoping I'm in the right place. So I'm 24 and I've been saving up for a few years to buy my first home. I've been looking for over a year and I'm ready to move out now. I have about 25k saved up, and I've been approved for a loan up to 100k. I'm looking for a house for around 70-90k. I live in the Midwest, so houses are pretty cheap compared to other places. A really nice 3 bd and 2 br house with a big garage and basement can be found for 150k. I'm a single dude so I don't need that much space. I've found a few nice houses in decent neighborhoods in my price range, but this is where my problem lies. My dad has disapproved of just about every single one. I should add that my dad is pretty good at remodeling. He's one of those guys that's a carpenter, plumber, electrician, drywall finisher, etc. I obviously want his input and advice but I feel like he's being unrealis...

Do the sellers owe us a credit is the alarm system is not functioning? It was advertised in the listing. Not picked up in the inspection report since it was out of scope for the inspector. submitted by /u/brosenberg25 [link] [comments] source https://www.reddit.com/r/RealEstate/comments/cj566u/alarm_system/

edit of Title "how is this going to impact the sale of my house?" I did get rid of the mice problem but those damn things left droppings all over the entry of the attic. I'm calling around for a professional company and will plan to use them to clean up the attic. How will this impact the sale of my house? submitted by /u/Surfer949 [link] [comments] source https://www.reddit.com/r/RealEstate/comments/cj4x3h/planning_to_sell_home_and_had_mice_in_attic_with/

Hello All, I am not accustomed to posting online, so please forgive any faux pax I may commit. I would request your advice with regards to the financing of my purchase of my first home. The numbers are as follows: Home value: ~$490,000 Down payment from myself: ~$120,000 Funds from father: ~$250,000 Bank loan: ~$120,000 (15 year fixed rate, 3.3%) When I informed the bank that I will be taking out a personal loan from my father, I was advised (indirectly, but undoubtedly) to present it as a "gift." Upon reading the verbiage included in the gift letter, which states in no unclear terms that there is no expectation for the monies to be repaid, I could not help but conclude that to present the sum as a "gift" is fraud, simply put. To this, the agent said something to the effect that, "Well, there is no expectation but if you choose to pay it back you can." Such reasoning failed to assuage my conscience (and fear of the law, to be fair). Now, if I ...

I currently live in Crown Heights and I am thinking about buying a condo here. A few questions for the hivemind: 1) People that are familiar with NYC: where would you recommend. It seems like I can get reasonably good deals in Bushwick. Is there something about Bushwick I should be concerned about? ​ 2) In terms of dealing with HOAs and maintenance fees, is it better to buy a unit in a bigger building or a small building (like 5-10 units). ​ 3) Is there any way to find "fixer upper" condos in NYC? It seems like that isn't an option unless you want to buy in a dilapidated building where your unit is the only nice one. ​ 4) Anything else I should know? ​ Thanks in advance! submitted by /u/Bountyperson [link] [comments] source https://www.reddit.com/r/RealEstate/comments/cj44av/questions_about_buying_a_condo_in_new_york_city/

Short story, I'll have 100k after the sale and owe 100k on another rental. The rental with a loan costs 1000 a month for everything and rents for 1600. It is an FHA loan from 2013 at 3.75%, still paying pmi from my 3% down payment.. submitted by /u/atlnw [link] [comments] source https://www.reddit.com/r/RealEstate/comments/cj3x0q/selling_one_rental_home_should_i_pay_off_a/

I have been looking into buying a new build home in a large sub-division (60 houses) that is on it's final phase. Are there any key things to look for when going over the spec sheets and asking questions of the sales team? Any specific targeted questions to ask? How can you gauge the quality of a builder? submitted by /u/VMP8899 [link] [comments] source https://www.reddit.com/r/RealEstate/comments/cj3n6h/questions_about_new_build_spec_sheet_and_general/

My attorney friend said that LLCs are overrated for liability protection in rental real estate, and that an umbrella insurance policy is pretty much just as effective. What do you think? How important is it to keep property in LLC ownership instead of owned by you personally? I currently have a mortgage on my rental property, but I'd like to transfer it into an LLC. My attorney friend said that most mortgages have a due on sale clause that will prevent them from being transferred. But he also said that lenders rarely check and that people frequently transfer properties into an LLC with no problems, and if something goes wrong, they just transfer back to the original name. So what do you think? Is it worth it to just transfer my rental into an LLC? submitted by /u/throwthrothroway [link] [comments] source https://www.reddit.com/r/RealEstate/comments/cj4kut/how_important_is_it_to_keep_a_rental_property_in/