Okay guys I’m gonna use this to spring board into the answers I’ve always wanted to know, so here goes.... -I’m engaged with an infant child -I work in law enforcement and make about 100K -fiancé works for a hospital and makes about 31K we have saved about 10K 10K in a retirement bank of which I’m able to take 50% (don’t wanna touch it) I have a credit score of 710 and have about 6K in debt (50-150$ minimum payments) We really want a house in the westchester county area and hoping to get approved for a 200K loan for a small starter home, we only wanna put 3.5% We qualify for all the First time home buyer programs, my questions are 1) is it possible? 2) what are property taxes? When and how are they paid? 3) can I come out of this with only the 3.5% out of pocket (not including inspections, etc) 4) can I put closing costs into my mortgage? 5) working with a mortgage broker to save me leg work considering my schedule, do you recommend? 6) assuming all the stars line ...

A house that we like came on the market, well below the price we are looking to spend. We are in a super hot market and want to make sure we are competitive with our offers. Would a negotiation tactic of offering $10k over asking and seller pays $8k in closing costs be enticing? It would basically be like financing the closing costs into the mortgage, freeing up our bank account for more renovations/savings/etc. Is this a good strategy? what are some of the downsides I'm not thinking of? submitted by /u/Enonnaig [link] [comments] source https://www.reddit.com/r/RealEstate/comments/evf7ev/negotiation_idea/

I have browsed through a couple threads on this topic but the circumstances were all slightly different and the ones that were close didn't have a ton of feedback. I am a senior in college and recently purchase a rental property out of state with my brother. We inherited about 15 grand each 10 years ago which is how the down payment was funded. Daddy had nothing to do with it, he doesn't even work in the industry. I am beginning to apply to jobs in commercial real estate (goal is financial/research analyst in capital markets, asset management, or development) and am wondering if I should put this on my resume. I feel that the experience from this endeavor is very relevant. I conducted extensive market research and financial due diligence to identify a value-add opportunity. I had to communicate with various RE stakeholders such as zoning departments, property managers, insurance companies, and contractors. And I feel that it is a unique undertaking for someone my age. I am ...

What does this mean? Doesn't the landlord usually pay the property tax? It says that the property will be foreclosed and sold if no taxes are paid..please help submitted by /u/olivianotolive [link] [comments] source https://www.reddit.com/r/RealEstate/comments/eveezw/im_currently_renting_a_home_and_i_got_a/

We have a home sale contingency on new townhouse construction in Chicago. We just got a signed contract on our place, with a mortgage contingency. Home is finished but basement buildout (was negotiated to be completed as part of the offer. We're in attorneey review now. Also, they're only offering 1 year limited warranty, no structural. I'm used to a 10 year structure or a 1-10, 2-10 warranty. General thoughts? submitted by /u/Lewis312 [link] [comments] source https://www.reddit.com/r/RealEstate/comments/everx6/sellerbuilder_requesting_nonrefundable_prepayment/

I went through a divorce and am being sued by my old divorce atty. During the divorce, she filed a lis pendens on the judgement i owed for her services. The divorce was finalized 6 months after this was filed, he now owns the home and had to buy me out. I was told i am free and clear of any assets/liabilities of the real estate, does that lawsuit in the lis pendens now fall on him? submitted by /u/Popptart7722 [link] [comments] source https://www.reddit.com/r/RealEstate/comments/evervi/question_regarding_lis_pendens_court_in_the/

I am looking to buy a home in a fairly low value area (rural, low income, etc). I found a nice-looking property with the rare feature of not looking like it's been 20 feet under water. It has a newer-looking small doublewide and some features I really like, including a brand new (2017) metal building from a reputable builder that's been converted into a 2-bedroom apartment with double carport. It's listed for 115k, which is pretty high for the area, and has been listed for a long time (since October, also unusual for around here). I've started the pre-approval process and have gotten back a quote for how much I'm looking at paying for it. The lender was referred to me by the realtor and they seem to know each other. My folks went by the county tax assessor's office today while I was at work and pulled the records for that property, and found that it's valued at only about 70k. Not only that, but the "owner" listed is actually the real estate age...

I'm looking at purchasing 2 buildings on 1 plot of land. The back unit is a house and the front unit is more of a warehouse. I'll likely use it to store my tools, car, etc. The listing agent is saying that I will likely need to get a commercial loan for the purchase. Can anyone confirm if this is true? The land is zoned RH2 (residential) so I'm not exactly sure why a commercial loan would be in play here... submitted by /u/ospreyintokyo [link] [comments] source https://www.reddit.com/r/RealEstate/comments/ev2a89/2_buildings_on_1_plot_of_land_zoned_rh2_why_would/

Where do owner/operators of larger complexes hangout? BP's multi-family forum is geared towards investors and multifamilyinsider.com 's forum is too quiet. r/smallbusiness can handle general topics like employee benefits/development, insurance, and taxes but finding a one-stop shop would be excellent. submitted by /u/llin_1234 [link] [comments] source https://www.reddit.com/r/RealEstate/comments/ev22ru/100_unit_apartment_owner_forums/

I am absolutely SICK of hearing this from my realtor. When it took forever to hear back from inspections, my realtor repeatedly assured me "no news is good news"...and then the buyer came back with a TRR of like 17 things to fix. Realtor keeps sending out contractors for bids on these items, and our TRR response period ends tomorrow. I have no idea how we are supposed to respond to the buyer on these requests, because the realtor hasn't communicated anything to me. We are slated to close the 10th which means we have to move the 7th...but we've still not heard anything from the appraisal. Our realtor keeps telling me "no news is good news". Well it wasn't good news last time, buddy! If the appraisal doesn't come back near asking, how can we know what we can offer the buyer in the way of credits at closing? We have a number we have to hit in order to make this work. *headdesk* They keep assuring us with the surveyor coming out and the buyer's t...