Put an offer in for a property in Denver right before the shutdowns on 3/29 set for a 45 day close putting it at May 12th. Worked with a few lenders and locked in a rate 5% Down Conventional at 3.125%. Inspection was resolved etc. but the appraisal came in low. Offer price was listing at 265k and appraiser set it at 251k. The seller will now only come down to 262k if we close earlier (first of all what?lol) Honestly I thought it was a little low as well as the bank too but the appraiser won’t budge. I see mistakes from both parties. The appraiser used comps older than 6months (doesn’t look like they adjusted for age), all the properties he used as comps are outdated, and the sqft were mainly low (850sqft) then adjusted for being less by a bed/bath/sqft. The 1-3 comps are typically the ones that are weighted towards the appraisal. The appraiser used all the lower end properties for comps 1-3. The seller/agent provided non-comparable comps because they either had a basement or a gar...

Kind of nervous this is all about to go down. I live in south Florida and I really can’t get a decent house in a good neighborhood for under $265 but I can get a above average town house in a good area. Anything I should look out for with dealing and what not? This is all really scary... I really wish I can get a house but that might be out of the question:( How much should I and lower the price on a townhouse that’s 260k? submitted by /u/Zeal0522 [link] [comments] source https://www.reddit.com/r/RealEstate/comments/g9gzxk/im_being_approved_for_a_256k_loan_at_32_first/

Hello guys! So i was shopping for refinancing my home & boiled down to two lenders which basically offered the same loan estimate. One is my current lender & the other one is Owning.com. I have appraisal waiver for both lenders. All I want is to close asap. Current lender matched what Owning quoted me. Haven't heard from Owning till today. Question, will i get in trouble having two lenders ready to close? Will i pay either to both of them if i decided to choose one of the other? Fyi: i don’t have any closing cost, no lender points & no appraisal & no out of pocket cost. My current lender matched what Owning quoted me so I continue to talked them & go through the process. I didn’t actually hear anything from Owning till today that’s why I was talking to my current lender. I’m just worried that I’m in a situation where i could get in trouble for having two lenders ready to close. Current Loan Rate: 4% FHA Remaining Loan Term: 25 Years ​ Refinance Loan r...

I can’t find an estimate anywhere on the internet. I simply must know! Thanks. submitted by /u/dobbyisafreelf [link] [comments] source https://www.reddit.com/r/RealEstate/comments/g9g9b5/how_much_is_the_gracie_mansion_in_manhattan_worth/

Hello, Just wanted to ask if anyone has seen or encountered this scenario. Found a house in an decent neighborhood, which will eventually go up do to close by university. It was listed for a certain price, when our agent spoke to their agent/owner they explained the restriction. That the price was only for the built home and not the property. Seems kinda weird as this home is not in the country but in los angeles. Also they did not want our agent or our lender, they wanted to do everything on their end. Obviously we passed, but if some poor soul buys it. Is it obvious that the seller could potentially kick them of property? submitted by /u/omnigear [link] [comments] source https://www.reddit.com/r/RealEstate/comments/g9g8cz/weird_restriction/

We have been renting the house we currently live in for about a year now. We have made so many improvements to the house because we want the place we live in to be nice. We have a great relationship with our landlord and we would like to ask her if she would be willing to sell us the house but we don’t know how to approach her with this. Is this something she could get offended about? How can we ask and not hurt the relationship? Any tips will help. TIA! submitted by /u/reddmthfknit [link] [comments] source https://www.reddit.com/r/RealEstate/comments/g9fema/how_do_you_ask_your_landlord_if_theyre_interested/

Some listing agent told me it was. I find it hard to believe and can't find anything to this effect. submitted by /u/RemoteDesktop [link] [comments] source https://www.reddit.com/r/RealEstate/comments/g9f392/wa_is_it_against_nwmls_rules_for_buyer_to_share/

I’m a recent first time homeowner and had a question about refinancing. I’m caught in a spot where there’s a tricky decision. Two years into a 20 year mortgage at 4.325%. Basically can refinance to a new 20 year and save $200+ish a month or to a new 15 year and have to pay $85 extra a month all told. I just want to know what you think is the best financial decision here (what if we don’t have plans to move but job situations or upgrades might (?) have us move before 15-20 years is up?). And lastly now would be the time to do this, correct? Thanks all for helping out a novice! submitted by /u/merlin401 [link] [comments] source https://www.reddit.com/r/RealEstate/comments/g9f27t/refinancing_variables/

Can anyone give me an idea on what you've seen interest rate buy downs cost? Client is being told it's only $1600 to drop the rate .5% lower than the best rate they could offer. My client is concerned there's something shady going on because his research indicated that it should cost at least 1% of the cost of the house ($450,000k). Just curious what others are paying to buy the rate down. submitted by /u/BeccaTRS [link] [comments] source https://www.reddit.com/r/RealEstate/comments/g9euby/interest_rate_buy_down/

I’m currently living in a studio that’s part of a main house in a high income area. There are three other studios on the property all separated. If the city were to find out about it I believe that they would ask my landlord to tear it down or fix the illegal attachments. I don’t think he has enough money to afford something like that so I believe he would sell. If I wanted to purchase the property could I use that information to my advantage to get a lower price? If he wanted to sell it on an open market would he need to take care of the studios or could he just sell as is? submitted by /u/ZtxVIII [link] [comments] source https://www.reddit.com/r/RealEstate/comments/g9eqp0/could_you_use_illegal_rental_attachments_as/