Housing News

"Gift Deed"

Sun, 29 Jun 2025 21:14:36 +0000

For a bunch of irrelevant reasons, a family member wants to transfer their home in a rural area to my spouse and I using a "Lady Bird or Gift Deed". It was drafted by their attorney, but before we execute it, I need to understand the consequences. What kind of attorney should I consult for a review? Estate? Real Estate? Other?

I'm concerned about tax consequences, estate issues, etc. The property is in Texas and has a few acres of land. It does have a mortgage, probably a VA one.

TIA.

submitted by /u/rktsci
[link] [comments]

Is my realtor marketing well?

Sun, 29 Jun 2025 21:11:28 +0000

Hey realtors. I suspect my realtor isn’t doing much but I came for a humble second opinion. I asked about her marketing plan, and she said she’s using social media. I have only been able to find 11 posts in nearly 3 months, she isn’t utilizing IG, etc. It’s not on any niche websites. She said she’s posting to her “stories” on FB and she has a pretty extensive equestrian network.

Property: 20 acre farm with smaller house in the Midwest, specifically set up for horses. Will require a niche buyer. This one ain’t gonna sell itself. I’m unsurprised it hasn’t sold, I am surprised that I’ve had 2 showings in 3 months.

What SHOULD my realtor be doing? Do I need to take a backseat and trust the process here? I don’t want to be a Karen but also, for about $25k or so in commissions on her end, 11 posts and some to her “stories” seems…low.

I started posting in FB groups about 5 days ago and views increased at least 12x the views it was getting.

Of course I will talk to her first…but I need to know what a group of peers thinks is an appropriate amount of effort for this property and any suggestions of something else she could be doing.

submitted by /u/writehandedTom
[link] [comments]

alternatives to bridge loan

Sun, 29 Jun 2025 20:41:54 +0000

Alternatives to loans or mortgages under 100k?

Please advise are there sites or methods that can work quickly when moving?

submitted by /u/robinrhouse
[link] [comments]

Recommended Down Payment for an $850,000 house?

Sun, 29 Jun 2025 20:12:14 +0000

I was thinking of putting $200,000, but is that overkill? I'd like to possibly have a good amount, but if I can do less than $200,000 then that would be alright with me. Just want to get a good idea, it's my first time buying a home!

submitted by /u/perky_92
[link] [comments]

How do I go about buying my family’s home?

Sun, 29 Jun 2025 18:44:05 +0000

My family has all grown up in this 4 bedroom 2 bathroom house with a mother-in-law suit in the back. I live in the suit in the back and my 2 great aunts live in the large house, well long story short my we are having some family problems and they would like for me to buy the house. I’m not rich but I know it’s possible to make money because of how the property is set up and it’s right by the airport in my city. They want 250,000 but it’s worth about 350,000 - 400,000. There is 5 brothers and sisters that were given this house as their inheritance and they are all eager for me to buy the house, but they would have to split that 250,000. My grandmother offered me to use her part of the inheritance to buy the house. Any ideas on what I would likely pay for a monthly mortgage? And are there any tips and tricks to making the process a lot cheaper? Or am I just stupid for thinking about it?

submitted by /u/Jada6241
[link] [comments]

very old house held up by a very old wood tree post?

Sun, 29 Jun 2025 18:11:45 +0000

is this normal? over 100 years old, modern renovation. the house definitely has cracks inside the closets. is that a sign of imminent collapse? wouldn't they have noticed in the kitchen reno? and would you leave a stick holding up your house?

submitted by /u/JodieFountainsHair
[link] [comments]

What should I consider when thinking of purchasing a second home?

Sun, 29 Jun 2025 17:50:54 +0000

I currently own a home in a steadily growing market in Tennessee. I have around 100k in equity after 2.5 years of ownership. Went through a breakup and don't really want to live here anymore. I would love to downsize to something tiny in a city I love, which would be in Kentucky. I can purchase a house there for $120k to $200k that would suit me for at least a couple years as a single person. A house in this new city isn't a great investment based on their market, so I am leaning toward keeping my current house.

I have about three months salary cash on hand. My debt to income ratio is 28%. My parents are wealthy, and while I do not wish to borrow money from them, they are a safety net if needed. My current home would be fairly easy to rent and I could probably bring in $350 a month beyond my mortgage payment conservatively.

What do I need to consider? Where should I start? Early into this thought process and hoping to get some feedback!

submitted by /u/Formal-Tomato8316
[link] [comments]

Lease Renewal Question

Sun, 29 Jun 2025 17:00:12 +0000

I don't really do leases but I did one for a friend last year (landlord), and her tenants want to renew the lease for another 12 months. In Florida, leases cannot be more than 12 months, so in this case do I need to do a new lease agreement between both parties, or can I do an addendum to the original lease agreement? Nothing will be changing and there'll be no increase in rent.

submitted by /u/Buhnanah
[link] [comments]

Small Condo HOA declined reserve study, red flag?

Sun, 29 Jun 2025 16:42:10 +0000

In a HCOL (Seattle area) and found a duplex-style condo, in a small complex (14 units) that checks the right boxes, except the HOA seemingly declined to have a reserve study. I say seemingly because the seller's broker says she "assumes" they declined a reserve study because it's a small complex, with a highly engaged board (meeting minutes indicate that is true) and that most big ticket items recently addressed. That also seem to be true: Siding is being replaced this year (and to the casual observer looks to be in near-perfect shape), roof is under 3 years old, gutters were replaced in the last year or so, etc.

Our agent isn't as engaged as we'd like and hasn't replied to our question about if not having a reserve study is a concern. We were able to get financials and don't see anything immediately concerning, but it's more or less numbers on a spreadsheet, with very limited context, so we don't feel like we necessarily know enough to make an expensive decision.

submitted by /u/GeorgeBonanza_
[link] [comments]

Help interpret inspection issues!

Sun, 29 Jun 2025 16:26:57 +0000

Trying to buy a house in Michigan. The house is in a neighborhood we like but has been hideously maintained. It is a 1993 and they are slobs. Cat hair in windows. Blocked vents. The AC filter was so black and filled our inspector was shocked. We know we have a deep clean and carpet replacements and are okay with that.

The house is mid 600s. Market has been cooling. They had dropped by $40,000 already. Others locally are doing the same.

Others in the neighborhood with slightly better layout and much better maintenance sold mid-700s in March/April. No others in the neighborhood are available...nothing in the radius. So location is our driver.

Issues:

-Major siding rot in several spots.

- 4 Windows that are rotting or failing

-End of life AC (from 1993) that is rusted and sliding off the pad. They replaced furnace but not AC

-Nonworking humidifier

-Nonworking 2015 generator (that was part of our understanding was working when we offered)

-Repaired roof truss (with no documentation so not sure if it is recent or original)

-failed seal on sump and grinder pump crock that causes radon to fluctuate

-bat droppings and dead mice and birds nests in attic (small hole)

- hornets nests in roof and deck

Things we knew about and affected price at offer time

-Failing Washing Machine (all older appliances)

-Deck that needs to be reinforced and redone (we will replace)

-Lose toilets (likely need to be replaced)

-Shower heads leaking

-leaking kitchen pipes (pvc needs replaced)

-Dated design kitchen and baths (wanted to do this myself anyway)

-old paint (would repaint anyway)

Trying to decide if we should ask for additional price reductions or if we are being unreasonable with the BIG issues. Are those actually priced in if they are lower than others in the neighborhood with upgrades and better maintenance that sold earlier. The reality is we'd likely have to do all new windows and use vinyl siding to replace wood. Roof in 2018 (two owners ago). We will likely have to do all carpets with something else -- but expected that due to cats.

Any insights are useful. Thanks.

submitted by /u/Twochickensacoke
[link] [comments]

Selling Multiple Duplexes to = 1 Commercial Apartment Complex

Sun, 29 Jun 2025 16:23:07 +0000

Slowly built up my portfolio of long term residential duplexes in a nearby city part time while also working full time elsewhere. Residential real estate in the city doubled in value during that time (which can be said for most cities in the past decade). Wondering if it's a good time to 1031 exchange 5 of them for 1 apartment complex.

Pros: it's in the suburbs in the best school district in the area, hopefully that would mean better tenants. Also it would be much easier to maintain 1 place rather than 5 different locations. It would hopefully give me the opportunity to scale as I have been barely treading water doing the maintenance and management myself.

Cons: RE agent costs and logistics to sell 5 properties, and could they all be sold in time for the exchange. They are in the same area so I would be essentially flooding the market with my own inventory. Also I would be going from low taxes to much much higher taxes. City schools vs the top school district, costs a lot more in taxes. Commercial loan rates and insurance I believe would cost more vs residential.

I have also considered storage or warehouse properties to get out of residential completely but it's the business I know and trust over the past decade and people always need a place to live. It would be nice though to not have to deal with tenants in their homes vs a warehouse where it seems like much less can go wrong. Also, I don't want to get into politics but I do have concerns (especially in the city) that socialist policies view housing as a human right and there could eventually be stricter laws that impact that business and that wouldn't be the case in storage/warehouses.

Looking for thoughts and experiences. This would be a big move for me. I'm typically pretty conservative in my approach so just looking for some feedback. Thanks in advance!

submitted by /u/No-Pool2029
[link] [comments]

House facing an alley - anything to be aware of?

Sun, 29 Jun 2025 16:15:03 +0000

Thinking of purchasing a house in Austin that can only be accessed via an alley. While it’s not my ideal setup, I don’t have a problem with it given my budget constraints. Any impact on resale in the future (it’s in a very desirable area)? Anything else to consider?

submitted by /u/Difficult_Review9741
[link] [comments]

Do houses really sell better when they furniture inside of them?

Sun, 29 Jun 2025 16:14:49 +0000

submitted by /u/Salt_Past8633
[link] [comments]

Struggling with deciding whether to upgrade our home or just leave it alone

Sun, 29 Jun 2025 16:14:09 +0000

My wife and I are going to be renting out our home for the next 3 years while we are in another state for work. We intend to come back and make some updates to the house. We are struggling deciding whether we want to pour a bunch of money into it knowing we will either sell it or continue renting it out in the next 7-10 years. Our current list of upgrades are as follows: - replace the fence - re-landscape the yard (front and back) - replace all interior doors, baseboards and floors - finish the laundry room - replace kitchen appliances - refinish our deck

I foresee us spending $30-50k on these upgrades. Does it make sense to pour that kind of money into a house that we may end up selling and possibly not recoup?

submitted by /u/arockobama96
[link] [comments]

Delisted house, now realtor wants to rent

Sun, 29 Jun 2025 15:54:28 +0000

Hi all, hoping for some perspective in this situation, as something maybe feels off to me or that it could go very wrong.

A couple weeks ago I had a SFH on market in a HCL area, was going to sell but the market dropped at the same time, had multiple low bids including one from a relator that has now asked my agent about renting the property instead short term to maybe a year it sounds like. My agent didn't give me much details beyond that. Thoughts on this? What should I be aware of? I don't really care for their term length statement but curious otherwise. Thanks.

submitted by /u/snbdmliss
[link] [comments]

Want to sell soon. Should we do the needed repairs/fixes with home equity?

Sun, 29 Jun 2025 14:14:18 +0000

We'd like to sell hopefully next year. The house needs a new roof and gutters and the master bath desperately needs a full update. Other than that we think it's in pretty good shape for selling. We've had equity since we bought the house in 2013 and it's only grown. My question is should we take out a HELOAN or HELOC and whether doing so would be wise right before we want to sell and buy another house? We have some saved up for a down payment, but what we make on the sale will be a majority chunk of what we put down on the next house.

submitted by /u/CareyBeary21
[link] [comments]

Making a space work or buy a new home?

Sun, 29 Jun 2025 12:49:03 +0000

Hello all,

Currently, I have a home that I bought back in 2020 when the interest rates were low. The house has started to become too tiny for our needs and I'm trying to figure out a solution. Is there anyway keep a mortgage rate low buying a new home or are we looking at the 6.5% rate?

submitted by /u/RebusPlays
[link] [comments]

Is this a good buy?

Sun, 29 Jun 2025 11:51:00 +0000

https://apps.realtor.com/mUAZ/y9jqhsxw

Wife and I are looking at houses we are first time home buyers. We liked this house but I wanted to know if you see any red flags. The house has been on the market for 230 days which is concerning. Would it possible to live in this and renovate over time? Also how much could that cost? Thank you

submitted by /u/OmniscientTrucker
[link] [comments]

MLS sites like Zillow estimate Solar adds 4% value to a home. Has this been your experience?

Sun, 29 Jun 2025 11:46:38 +0000

Would appreciate your experiences/views. Especially from those who have solar on their homes, have bought homes with solar, or realtors who have experience with such homes. I am talking about newer solar systems - so let's say anything post 2020. Thanks for your feedback!

submitted by /u/Flamtice0
[link] [comments]

Referral Percentage?

Sun, 29 Jun 2025 11:43:58 +0000

I am a slightly new referral agent, referred to an old business partner. What is a good referral percentage? We are agents in NJ. Just want to make sure I’m getting a fair percentage

submitted by /u/Fast_Sympathy_7195
[link] [comments]

Help needed! Seller refused to sign on closing day!

Sun, 29 Jun 2025 06:22:21 +0000

We were in the process of purchasing a house. Well actually we were at the end and ready to close. It was a lengthy and stressful process but we finally saw a light at the end of the tunnel. We started april 11 and were set to sign Thursday June 26. We went to our closing appt and signed and the seller was going to sign at a later time due to having radiation that morning as she had stage 4 cancer and is doing radiation treatments. Well I got a phone call that the seller backed out of the deal last minute! Mind you, all of our stuff was packed and we had not renewed our contract at the home we were renting. Apparently the house was under the husband and wife and the he had passed years before but left a will. The wife never took it to get recorded with the courts and it expired? Well now she needed to get an affidavit of heir ship and since her husband had a living son, he would’ve had to sign to allow her to retain the property. Well he refused as they pretty much hate each other and said if she sells, he wanted his part which was 25%. Out of spite, she backed out of the deal as she did not want to give him a dime. Well are devastated and extremely upset as we are packed up and were told everything was done and in order. My questions are #1 isn’t he still entitled to a percentage whether or not she sells? Like eventually will he still be able to fight her son for the property if she passes? #2 we were told that we would get our earnest money back but not what we spent on inspections and appraisals!! Is there a way we can fight that to get that back? This was emotionally and mentally draining and honestly my whole family is feeling…just…defeated! I don’t understand how this happened and why it took till closing to figure out all the paperwork was not in order!! I honestly don’t know what actually happened because the title company has not reached out.

submitted by /u/bellamama1982
[link] [comments]

How many showings and offers did you get?

Sun, 29 Jun 2025 02:52:42 +0000

How many showings and offers is typical in your first days/weeks on the market? I’m selling my second house, and having a much different experience than selling my first house (first 2017, was likely underpriced, had 20 showings first day and 6 offers)

Background- we currently live in a VHCOL area, but are in a very affordable entry level price point home, updated and beautiful inside, BUT on a busy street (on the flip side, we are houses down from the extremely desirable highschool). We’re on track to only have 4 showings across our first 3 days on the market. This seems super low to me, but maybe my first house experience was abnormal? How many showings should you expect your opening weekend/week? And generally what percent of showings result in offers?

submitted by /u/Hydrangea324
[link] [comments]

How to Build a Cash Buyers List the Right Way FAST & FREE

Sun, 29 Jun 2025 02:15:01 +0000

14 price changes up and down. On the market for 2 years

Sun, 29 Jun 2025 01:20:09 +0000

I copy and pasted the price history below. What’s going on with this absolute roller coaster of a listing? I’m guessing they just don’t care if they sell or not?

6/29/2025 Price change $1,375,000 $358/sqft -1.7%

6/13/2025 Price change $1,399,000 $365/sqft +5.3%

6/01/2025 Price Change $1,329,000 $346/sqft -5.0%

4/25/2025 Price Change $1,399,000 $365/sqft +3.7%

4/24/2025 Price Change $1,349,000 $351/sqft -1.9%

3/02/2025 Price Change $1,375,000 $358/sqft -1.7%

11/23/2024 Listed for sale $1,399,000 $365/sqft +0.0%

8/09/2024 Listing removed $1,399,000 $365/sqft +0.0%

6/20/2024 Price Change $1,399,000 $365/sqft -1.4%

6/13/2024 Price change $1,419,000 $370/sqft -0.7%

4/15/2024 Price change $1,429,000 $372/sqft -1.4%

3/21/2024 Listed for sale $1,449,000 $378/sqft +0.0%

3/09/2024 Listing removed $1,449,000 $378/sqft +0.0%

10/06/2023 Listed for sale $1,449,000 $378/sqft -3.3%

9/18/2023 Listing removed

8/19/2023 Price change $1,498,000 $390/sqft -3.3%

8/03/2023 Price change $1,549,000 $404/sqft -1.7%

7/14/2023 Listed for sale $1,575,000 $410/sqft +37.1%

11/10/2021 Listing removed

10/05/2021 Contingent $1,149,000 $299/sqft +0.0%

9/30/2021 Listed for sale $1,149,000

submitted by /u/Janitor_Area51
[link] [comments]

Can I afford this $295k triplex

Sat, 28 Jun 2025 20:36:24 +0000

I’m a 24-year-old single male, no kids. I make about $5,800/month (pre-tax), have no debt, and my car is paid off. I’m in sales, $5,800 is a 2 year average.

Current assets: • $5,000 cash • $35,000 in a Roth IRA • $4,500 in an HSA • $5k–10k in 401ks

Currently I pay: - $150 in car insurance - $50 phone bill - $300 monthly towards the hsa - 5% monthly toward a 401k - $130 for health, dental, and vision

I figure if needed I can pause contributions towards hsa and 401k to save up again.

I’m looking at purchasing a $295,000 triplex. I would live in one unit and rent out the other two. Rent on the other two units would bring in $1,050 and $800 monthly.

I’d be putting 3.5% down. I just offered $295k, asking price, and seller paying closing costs. I’m estimating I’d come out of pocket about 14k to cover an inspection, downpayment, any fees on my end. So I would have to pull from my Roth, which I can do without penalty (from contributions).

I’m trying to figure out if this is realistically affordable for me and what I should be considering (e.g., reserves, maintenance, worst-case scenarios, etc.). Would love input on whether this seems like a smart move financially or if I’m jumping in too early.

Thanks in advance for any advice or reality checks.

submitted by /u/OTMOptions
[link] [comments]

Bought a rural Texas home can’t shake this weird feeling about why the seller really moved

Sat, 28 Jun 2025 08:38:22 +0000

Hey everyone. Just wanted to share something that’s been bugging me, and maybe get some outside perspective.

I’m originally from the Houston area but had moved to California for work. Recently, my wife and I decided to come back home to Texas and found a property we really liked a house on about 10 acres in a rural area.

During the buying process, I asked my realtor why the seller was moving. She said the seller’s agent told her it was just a “vacation home.” But that didn’t make much sense to me. The house had cattle, and it was clear during our walkthrough that someone had been living there full-time, it looked like an active homestead, not a weekend getaway.

We loved the property though, so we moved forward. After we closed and already had the keys, I still couldn’t shake the feeling that something was off. So I had my realtor ask again and this time, the seller’s agent responded that “she’s not able to share that information.”

At that point, it was too late to change anything the deal was done. But the sudden change in tone and refusal to answer left a weird taste in my mouth.

Has anyone else experienced something like this when buying a home? Am I overthinking it, or is this kind of thing a sign of something more?

Edit: I forgot to mention they only lived there for a year before selling the home

submitted by /u/Internal_Pear_1118
[link] [comments]

Why I Don’t Recommend Hard Money Loans for Beginners in Real Estate Use This Instead

Sat, 28 Jun 2025 02:00:09 +0000

Are Realtors Gaming the System with "Active Contingent" listings?

Fri, 27 Jun 2025 17:39:14 +0000

IDK if it's my area or what, but a home will get listed, and after a couple days will change to "active contingent." Ok whatever, but then the home will sit and sit and sit for months, and even lower price in the meantime. This is like 80% of the listings in my area.

Are realtors intentionally somehow making these listings Active Contingent so it looks like the house is in high demand and encourage higher offers?

I just can't imagine how this pattern is so prevalent across so many listings that never sell.

submitted by /u/DarceysEyeOnThePrize
[link] [comments]

Extended Closing New Construction in Boston

Fri, 27 Jun 2025 17:36:14 +0000

Currently dealing with delayed closing because the new construction condo hasn’t gone through all of the necessary inspections for a COO. So far, the construction is mostly done with electricity running. HVAC and water passed inspections. Remaining is plumbing inspection, gas installations, life and safety inspections. I had signed a p&s in February 2025 and was scheduled to close end of May. I had a rate lock til end of June and closed the lease on my apartment as I was expecting to move in. Also, there is a drop deadline by Oct 1 where I can walk with my deposits back.

However, the sellers were not only not responsive at all but also delayed closing twice now both times giving me around 5-6 days notice. The new closing is end of July and I’ve had to pay an extension AND prepaid interest. My legal team doesn’t seem to be able to do anything and there seems to be absolutely no repercussions for this kind of behavior.

Am I screwed here? The sellers gave me a credit but I am seeking to get more at this point. I can’t live like this month to month not knowing where I’m going to be for the following week. Would love other redditors advice.

submitted by /u/cubano63
[link] [comments]

Adding a Home Elevator: Pros and Cons: Resale Value?

Fri, 27 Jun 2025 17:28:20 +0000

I’m seriously consider adding a home elevator.

I’m aware of the typical costs, it looks like ~$40K-$50K for the elevator (the house is worth $900K).

Obviously this would be a net positive for older buyers. Are there any major drawbacks to consider?

submitted by /u/GotMyOrangeCrush
[link] [comments]

Buying without agent representation.

Fri, 27 Jun 2025 17:20:02 +0000

We looked at an open house and want to make an offer on it. We don’t have a realtor representing us. Do we need one or can we work with the sellers agent to submit an offer? Should we contact a real estate attorney? What are your recommendations?

submitted by /u/Beginning-Leg-3060
[link] [comments]

Encroahment and how to proceed when discovered during escow of sale.

Fri, 27 Jun 2025 17:05:46 +0000

My neighbor is selling their home and recently entered into a 30 day escrow with new buyer. I had a licensed survey performed last week to generate a boundry and topo for a planned remodel I am pursueing down the road. It has been discovered that the shared wall with the property in escrow is encroaching 3' into my property for a span of 100'. Whats the best way to proceed in efforts to retrieve my land?

submitted by /u/AlternativeGrape5033
[link] [comments]

Selling commission

Fri, 27 Jun 2025 17:04:25 +0000

We are looking at selling our property. We’ve already moved. The house should sell around $700k. It’s in a really desirable neighborhood (VLCOL) Midwest city) and while I’m hopeful it will sell quick, I know our price limits the pool of buyers. My issue is, at this list price (or even a lower sales price), I’m really struggling with the commissions. 6% feels like robbery at a potential $40K loss of profit. Oh and not to mention, the commission is on sales price (but not net of commission or concessions)—so I’m basically paying you commission on money I’m giving away to a buyer?

I know BAC is negotiable, but I’m realistic about buyers wanting/needing that (agent has already prepped us for min 2.5%). But I understand BAs do a ton of legwork. My bigger issue is the actual selling agent/broker wanting 3%. That’s $20K for essentially just guiding us through the process and uploading my home to the internet.

The last time I sold a house, it was worth $150K so even a 6% commission split seemed reasonable for the effort to sell.

Not sure why I’m looking for here, maybe just a rant. But I’d love to find a realtor that would list for say 2% with the ability to earn up to 3% if sales price ends up above list. Why don’t those seem to exist?

submitted by /u/Technical_Quiet_5687
[link] [comments]

Private road to house owned by neighbor

Fri, 27 Jun 2025 15:34:51 +0000

We're interested in buying this house, but the issue is that the load leading up to it, is owned by the neighbor.

The listing agent says there is a recorded easement that captures the fact that it can be used without any issues. But I have never considered a situation like this before. So I'm wondering:

Here is a picture: https://imgur.com/a/gly51P1

Is this common?
What could go wrong?
What type of legal evidence would I need to see to make sure we're protected for the future?
Would you advise against this?

Thank you for the help!

submitted by /u/big_easy_
[link] [comments]

Who is responsible for drain plumbing in my condo hoa?

Fri, 27 Jun 2025 15:15:50 +0000

Downstairs neighbor complained of a leak coming from my shower, they called a plumber already. It looks like there is some moisture around the exit side of the p-trap.

Does anyone know if the p-trap is typically the owner's responsibility or the hoa's?

submitted by /u/BackdoorDan
[link] [comments]

Insurance help

Fri, 27 Jun 2025 15:11:59 +0000

Does anybody have any good recommendations for insurance particularly on old buildings I am finding it harder and harder to even get a company to take on my buildings let alone the price I then have to pay

submitted by /u/KaBar12
[link] [comments]

Square footage accuracy?

Fri, 27 Jun 2025 14:44:07 +0000

A home we are interested in buying is listed with a wildly incorrect square footage. It’s listed at just over 4700sq ft. According to the dimensions of the floor plan it’s just under 4000sq ft.

We put in an offer that was in line with the actual square footage which was 85k under list and the sellers declined and didn’t counter. I’m not surprised they didn’t counter because it would have felt like a low ball offer if they genuinely believe the home is 4700sq ft.

As far as I know they haven’t had any other offers yet and we are still interested in the home. We will likely submit another offer at some point. But would love some advice on what we could ask our agent to discuss with the listing agent, or what we could submit with our offer to back up why our offers are under their list price.

submitted by /u/Glittering_Walk4926
[link] [comments]

I need data to show to my realtor about a 2/1 house.

Fri, 27 Jun 2025 14:31:52 +0000

I’m selling a house built in the 1940s that has two legal bedrooms and one bathroom, about 1400 sq ft. There is a third room that has a window and a closet but not enough square footage to list as a bedroom so I want to promote it as a home office because it’s separated from everything and in it you can’t hear any noise from the other rooms.

The price my realtor wants to list at ($275k) seems too high for me. Online I can only find two other houses in my city with 2/1 that are even close, and they have other features like a huge deck or more updated kitchen.

I’m trying to get the point across that there is an upper limit to what we can ask for a 2/1 house, and that listing it at 40-50k more than the other 2/1 homes is nuts. He keeps pointing out things like the great family room, original hardwood paneling, and so on, but at some point you’re just putting too much lipstick on the pig.

He will be re-running the comps this weekend and I need to be prepared with my examples of why that price is unreasonable. Since I don’t have access to MLS, what resources should I use to illustrate my point?

submitted by /u/Purlz1st
[link] [comments]

Need Your Perspective

Fri, 27 Jun 2025 14:08:55 +0000

Need your perspective and how it may affect me. Here goes. I have a family member (FM) who wants to purchase a home using my name, credit, and perks I may qualify for as a first time homebuyer. FM suggests that I 1. Take out a loan using my identity or 2. Co-sign a loan using FM's identity.

Take out a Loan:
- I take out a loan, purchase the house of FM's choosing, the FM will live there. My name would be on the deed, FM would be listed as primary occupant. FM then suggests that I can then borrow from the equity of the house after 6 months of purchasing the 1st and use that money to then purchase my house. FM said it would be easier getting 2nd house since I can use the 1st as collateral.
Co-sign A Loan:
- Co-sign a loan FM would acquire. FM cannot do it by themself because FM does not 2 years of consistent, verifiable income. FM claims to have cash but a loan officer cannot consider those funds since a loan officer cannot prove it's source. FM is adamant they can pay the mortgage even though FM have not worked a W2 for 2+ years.

I know I should seek financial advice from a professional, I just want some perspectives on peoples experiences on these kind of things. Thanks!

submitted by /u/KrennShaww
[link] [comments]

Buyer seeking estimate of property taxes and HOI prior to purchase.

Fri, 27 Jun 2025 13:55:06 +0000

All, I am planning to sell our home and move about 600 miles to another state. I am seeking a (close) estimate of what my taxes and insurance will be at the new house. Are there any ways, methods, and/or websites available to get a closet estimate of these ownership costs? The estimates provided online (Redfin and Zillow) seem way out of touch.

Thank you ...

submitted by /u/dudreddit
[link] [comments]

Buying a house in West Rotterdam – is this normal?

Fri, 27 Jun 2025 13:28:59 +0000

Hey everyone, I’m in the process of buying a house in West Rotterdam. I offered 15% over the asking price and my offer was accepted. The real estate agent mentioned that in case the bank’s appraisal comes in lower than my offer, I’d have to cover the difference in cash.

Is this standard practice in today’s Dutch housing market, or did I go too high? Would love to hear your thoughts.

submitted by /u/AE-002
[link] [comments]

Why would someone only put down $100 in earnest money?

Fri, 27 Jun 2025 13:26:48 +0000

This is my first time selling a house, and this is the first offer we've gotten. It's been on the market for four days, and has had a dozen showings. I inherited the house and it needs a lot of work. It's well into the lower end of prices for the area. Most of the showings seem to be from flippers or young couples, which is what we expected. (I live out of state and have security cameras in the place, which is how I know who is viewing it. The cameras are not hidden, so it's not shady.)

I was excited to get the offer, which is for my full asking price. But the earnest money seemed really low. Why would someone do that? What are some possible reasons? Like, why even waste the time making the offer if they're not that serious about it?

Edit: The house is being sold "as-is." I am too far away to deal with any repairs, either fixing them myself or coordinating their repair. I'm also not in a hurry to sell the place. The carrying costs are trivial for me.

Edit 2: I just spoke to my realtor. It's an all-cash offer, and they want to close in a month. I'm guessing it's a flipper. My realtor suggests letting the other people who did viewings know that there's an offer in, and get theirs in if they wanted to, but also said this all-cash offer at asking price is pretty good.

This is a $100k fixer-upper in a city where the average home is $350k.

submitted by /u/Striking-Anxiety-604
[link] [comments]

Market seems saturated, but my realtor doesn't want me to drop my price yet.

Fri, 27 Jun 2025 12:58:13 +0000

I'm in the Columbus, OH area, and our house has been on the market for nearly a month. We have so far had a single showing. I went with the price the realtor suggested, but, the housing inventory in our area at our price range has ballooned like crazy, and it doesn't look like many house are selling. I spoke with my realtor yesterday about dropping the price, but, he said he's talked to other realtors and the houses they represent aren't getting showings either. He says no one wants to start tanking the market. I am completely ignorant, but it strikes me as, not a great idea? His reasoning is that because no one is coming by, there's no way to know if the house is priced appropriately or not. It seems to me like it'd be better to be one of the first houses to drop price rather than one of the last ones, what do you all think?

For context, at least on Zillow, we seem to be getting a lot of views/saves relative to other houses in the area in our price range, but... as no one is coming by, I figure it's risky to just trust that metric.

Edit: I took the majority advice here and we’re making a significant price cut. Thank you all so much, fingers crossed

submitted by /u/ChipsAreClips
[link] [comments]

Timeline for resolution of an unreleased deed of trust?

Fri, 27 Jun 2025 12:38:04 +0000

We were supposed to close on our home this past Wednesday but found out closing would be delayed due to an unreleased deed of trust dating back to 1998. This would have been under the owners before the current sellers of the home, so our realtor said it’s likely paid off, we just need Truist to release it. We have been unable to get an accurate timeline for how long this could take from anyone, the sellers attorneys just keep telling our realtor they’re pushing Truist to resolve it. Does anyone have any insight for how long this process could take?

submitted by /u/wirewrapped18
[link] [comments]

Can you DIY a cost seg study if you want? and will it be IRS-compliant?

Fri, 27 Jun 2025 12:29:43 +0000

When it comes to budgeting, bookkeeping, and finding extra deductions, I'm all for doing things myself. But after looking into cost segregation a little more, I don't want to do this on my own.

The IRS has some pretty strict rules about what counts, and if you're speeding up depreciation, they want a real engineering-based report.

I almost started putting it together myself, but then I remembered how easy it would be to mess up an audit. I chose Maven in the end because they had a calculator that helped me see the benefits before I signed up. This made the choice easier.

Has anyone ever tried to do this themselves? I'm really interested in how it turned out.

submitted by /u/Dazzling_Project_721
[link] [comments]

20 year old water heater in acceptable condition is making condo uninsurable (Florida)

Fri, 27 Jun 2025 12:16:54 +0000

EDIT - we want it replaced and would do it ourselves at close but can’t get insurance because of the age, therefore can’t get a loan because no insurance. “Acceptable” is just what the inspector noted it as, sorry for the miscommunication.

We’re under contract (inspection period) for a condo with a 20 year old water heater. I am being told by insurance companies that they can’t insure the unit due to the age of the water heater even if it is in acceptable condition. The closest I got was somebody telling me that their “private insurance partner” could “consider it” IF the water heater is not in the living space (it is). I can’t get a loan without full coverage insurance in place.

Do I just have to back out if the owner won’t replace it? Or is there a way to move forward? I just had no idea that something like that could make the place uninsurable.

submitted by /u/Busy_Energy_7663
[link] [comments]

Clear to Close but no date?

Fri, 27 Jun 2025 11:20:13 +0000

Is this normal? We are at the "Clear to Close" step in our buying process but we still don't have a date to close. I need to know something so I can turn on utilities, etc. Can anyone give me an idea of about how long this step takes so I know what my next step is?

submitted by /u/TotesMaGoats_1962
[link] [comments]

In escrow and sellers refusing access for inspections and appraisal

Fri, 27 Jun 2025 03:58:21 +0000

We are buying a single family home in Los Angeles, California and are currently 13 days into a 30 day escrow. Our scheduled closing date is July 14. The last 5 days the sellers have become uncooperative and we’re not sure where to go from here.

There was a bit of back and forth on our offer and we finally came to an agreement about $75k below their asking price.

At this point, we’ve provided all needed information and our loan is conditionally approved, pending only the appraisal. We had our inspection last Tuesday (6/17) and were planning to do a foundation inspection as a follow up this past Monday (6/23) as well as our appraisal that same day. On Sunday, the sellers issued us a notice to perform stating we needed to remove the inspection contingency by Monday at 11:59pm.

However, they also stated they were refusing access to the property for our inspection and appraisal on Monday. The appraiser showed up Monday, and they refused them access and provided no alternative date.

We were comfortable with the information we had around the foundation from our general inspection, so we waived the physical inspection contingency so that the sellers couldn’t cancel the contract.

We then issued them a notice to perform to them to grant us access to the property and provide the seller paperwork. No response has been received.

Our realtor and their realtor work for the same company, and they are refusing to communicate with either. We are pretty much in the dark, but still want to move forward with closing and purchasing the property.

Anyone experience something similar or know how we can still move forward with purchasing the property? We’re planning to speak to a real estate attorney but really don’t want to spend a lot of money on attorney fees.

submitted by /u/wak16
[link] [comments]

Cold Calling for Real Estate Deals – What TO Do and What NOT To Do (Cold Calling Tips for Beginners)

Fri, 27 Jun 2025 02:00:23 +0000

Seller refusing to sign cancellation

Fri, 27 Jun 2025 00:15:47 +0000

Update: we have reached out to title and the broker. We've sent an updated cancellation to split earnest. While waiting for a response we have contacted a real estate attorney.

Our realtor is making phone calls for next steps. But doesn't sound like she's had this happen before.

We did our final walkthrough the day before closing and the basement was riddled with water and mold that wasn't there during our inspection window. They agreed to have a mold mitigator come out and assess and the mitigator agreed that the mold and water should be taken care of and there is evidence that it has happened in the past.

We ended up walking because we don't want to live in a mold house with our baby. Seller is now refusing to sign cancellation papers.

What now?

submitted by /u/schmidthead9
[link] [comments]