I am finally selling this long-suffering house, to a buyer with a VA loan. How mandatory is it that I cover her closing costs? She is moving from a state with way, way higher housing costs than this location; she loooves the house, and upped the asking price by $6K to beat out another offer within 5 days of listing. My agent was adamant that I agree to cover her closing costs, somewhat over $5K, because it's routine. [more inside]
I own an apartment in New York City, which I need to rent out. I found tenants who seem to be lovely people, but I'm struggling to decide whether or not to be concerned about their finances. [more inside]
Does anyone have experience using college loans for buying property to live in while attending school? I'm looking at buying a 2-5 acres for about $25,000 to $40,000, putting up a DIY cabin shed in lieu of throwing all my money at rent over the next 3 years. [more inside]
My neighborhood is in a crazed real-estate frenzy. Every other house is for sale. Every other house is being torn down and rebuilt. It is like a nonstop construction zone around here. Would it be illegal for me to put up a phony "For Sale" sign to tease the manic speculators? [more inside]
Do you have to involve a real estate agent in a deal if you didn't sign a contract with them, but they showed you the house? [more inside]
I just read this comment, and thought this was AWESOME. But unfortunately, it kinda doesn't work. Does your city have an app (iOS preferable, but I can always get a cheap android phone to check it out), that has an AWESOME app for mass transit? Whats the app? "Real time tracker" is what I'm looking for (i think). It need not be awesome in terms of fonts, design, etc. I kinda just want it to be more than a list of schedules. [more inside]
My wife and I will (hopefully) be buying our first home in the near future. We've identified a great place, however the sellers want to do away with real estate agents to save on the 6% commission, since they've already identified a willing and able buyer (us). Complication: I've never bought a house before and am nervous about not having someone to hold my hand. Advice? More details below. [more inside]
My husband and I are saving for a down payment for an apartment. We (as many people in our income bracket) are feeling the heat of just not having enough to compete in the market. Hoping to cut through the rabble and get some feedback on recent buying experiences from people who have been successful in going through the process. We have some specific issues that we are hoping to get feedback on, contained within... [more inside]
I'm finally ready to put my Memphis house on the market again, so have to find an ethical, skilled professional realtor there (I live 3 hours away). Ideally this would be someone who learned the business, and performance standards, in at least one other major American city. [more inside]
people who are a bit older than me in my field but who somehow see me as an equal [more inside]
I'm considering buying residential property to rent out, either in Portland, ME or Orlando, FL. Quite different scenarios, so the decision isn't really apples-to-apples. [more inside]
I got a call from a client today who saw an apt with another broker. This broker has the same listing as me but is in another office (the owner of the property is using both of our offices - neither of us have exclusivity agreements). [more inside]
I am saving up for the down payment on a co-op apartment here in NYC. I'll estimate the sum of said payment to be in the $30-$50K range, based on current co-op prices and a down payment requirement of 20%. [more inside]
I'd like to know which real estate agents have actually completed/closed on houses/property in a particular county, say in the past 12 months or calendar year. [more inside]
We are considering a move to Seattle from the Bay Area. Last year we took ourselves out of the house-hunting game down here due to the crazy market here. What can we expect from Seattle? [more inside]
The house values quoted to us are all over the place! [more inside]
Greetings! My LLs are about 85 and seem to be over being LLs. There are 11 units in my building, 3 of which were rented for the year, we had a 4th tenant but she moved out the 4th month. I secured all of these tenants. My LLs obviously could have made a lot more money if they rented all the units. I can easily get tenants and have no problem doing so, the only obstacle is the LLs, they do not get back to emails and lose many of the renters I get (I show them the unit and it takes the LL 2 weeks to email back). [more inside]
This question is following up on one I posted almost a year ago, trying to arrange sale of house to tenants who could not qualify for a bank loan (a resounding NO to self-financing and promissory note). If at all viable, I will follow up with an attorney; otherwise I will let it go. Here's the idea: They can now qualify for a $130K loan. The house is zestimated at $170K. What about selling them a right of first refusal for $40K to buy the house at $130K? They would pay me up front for the right and for my promise to make the house available within x time for them to exercise that right. They would of course still have to come up with a down payment for the bank/mortgagor, but I think it's more their credit than their cash flow that has been a problem in the past. Even as I type this I'm imagining Murphy's Law kicking in, but seems riskier for them (buyers) than for me.
Hi, hubby and I are looking to sell our house. We have a traditional agent that we've used in the past, but we don't want to use her again. We aren't ruling out using another local agent, but since we're both tech savvy and used sites such as Redfin extensively during the browsing stage, we are thinking about using a Redfin agent. Other than lower commission, the other perks like free professional photos is certainly nice to have. But other than agent's reviews on Redfin's own site, I can't seem to find stories of other people's experience using Redfin agents to sell properties. Stories of people using Redfin agents from the buy side seem to be more common. So I'm posting here to see if any MeFites who have used/know someone who have listed properties with Redfin, both pros and cons of going this way. Thanks!
YANL, YANML. I presently am on the deed to a house with a family member. We are joint tenants with full rights of survivorship. My family member holds the mortgage note entirely in his name. Other members of my family are becoming increasingly more aggressive in regards to me moving the mortgage into my name (which may not financially/credit wise be feasible). My question is that I'm planning to get married later next month. Is there any benefit to me - to protect my interests in the property - to get married sooner? [more inside]
My husband and I are thinking about having a home built -- a production home -- in one of the many subdivisions in our growing area. We have purchased a home before (and sold it later; not in our current area) but it was older and had been flipped. What do we need to know about the production home process? [more inside]
Does anyone know the skinny on CU Community, a credit union lender based in Springfield, MO? [more inside]
There is an 4-story commercial office building that we'd like to sell. The building's tenants are professional businesses. We'd like to sell the building as soon as possible. Teach us how? [more inside]
My mother bought a townhouse before the housing bubble. She lost her job two years ago and is having trouble paying the mortgage. What's the process for selling the house and what do we have to lose? [more inside]
There are several people I've been chatting to online for various periods of time, who I'm likely to meet on my next journey around the USA. In the case of a few, they are asking to meet up. Nothing romantic and more than friendship with any, though the level of friendship differs; in some cases it's quite strong or complex. Problem is, the prospect of finally meeting IRL repeatedly terrifies me to the point of making me feel ill. Is this kind of feeling normal or common, or not? How can I subdue it and not make myself hide, literally? [more inside]
I've been living in Brooklyn Heights for two years. It's expensive and kind of boring, but definitely very safe. I'm moving soon and found a place I love in Clinton Hill close to Pratt. I love the beautiful architecture and artsy vibe. I was ready to sign a year's lease but then I did a bit of googling and found out that Clinton Hill and Fort Greene were found to be the 6th most dangerous neighborhood in NYC. Is Clinton Hill really that dangerous? I am a 95 pound woman in my 20s, not super street smart, but familiar with the Subway and Brooklyn in general. Is moving to Clinton Hill a bad idea? Am I doomed to moving to Park Slope instead just to be safe? Will I be okay in Clinton Hill as long as I don't walk home alone at midnight - which I do in Brooklyn Heights now? Or conversely, is it on the dangerous level of not walking alone any time after dark?
I'm looking to rent a room in Brooklyn/Queens ASAP but I know very little about the city. I have a place to stay for a few weeks when I move down there on the 17th of this month but after that I'm pretty much on my own. How can I educate myself in the meantime so I know what to look for when I'm reading craisglist ads? Also, suggestions for good apartments based on what I'm looking for? [more inside]
Should we consider an ARM in the current mortgage market? [more inside]
I am getting ready to buy a property in toronto-- it's a renovated condo. The condo is under the York Condo Corporation and Pro-House management. I am new to this market, and the internet is filled with things these companies say about themselves. So I am looking to the hive mind: do you know anything about these companies? their reputation, your experience, stories you've heard...anything. PM is welcomed too, if you feel inclined. thanks!
What are the pros and cons of self-financing the sale of my house to the tenants? They are excellent tenants and love the house, would buy it except that their credit is wrecked from husband not paying taxes. As I understand it, if they pay me a down payment, I would transfer title to them in exchange for a promissory note for the balance of my mortgage, and they would continue to pay me monthly, payments which I continue to turn over to the mortgagor bank. [more inside]
Husband and I are seeking a rental home. We found a nice house and the landlord has invited us to apply. Last time we applied for rental the property manager had us do a credit/background check via an online service. This new landlord gave us a paper form asking for SSN, DOB, our checking and savings account numbers, employment history, and other info. The landlord is an older person with a couple investment properties. I'm sure this is not a scam, but I am reluctant to hand all my ID and bank numbers to a stranger. Advice? Anyone know a simple, reputable online background checking service that I can suggest to this landlord? We would pay the fee. My goal is to make the landlord comfortable so we can lease the house. The Seattle rental market is very tight. This landlord has his pick of many worthy applicants. We have excellent credit, references, etc.
Yes, I know everyone will tell me to get a lawyer. Anyway, has anyone ever broken a joint tenancy on a piece of property? [more inside]
Do you have suggestions? Should we do it? Where? In town? Farther out? Way out in the country? Neighborhoods to check and things to look out for? [more inside]
Real estate filter: Is it considered in any way derogatory or impolite to refer to non-prime commercial office space as "Class B" or "Class C"? [more inside]
In last year or so the real estate (sold houses and land worldwide) section of Ebay was very active and was full of ads. There are not many ads right now, practically nothing. What did I miss, did Ebay change some policy or did everybody migrate to craigslist or to other avenues? Any explanation from the realtors of the metafilter?
Has anyone figured out how to approach a bank to purchase non-performing residential loans? I've approached a local bank. Although it would probably be in their interest to sell the loans, they don't seem to have a mechanism. I haven't figured out how to crack this nut.
First time homebuyers, both excited and nervous as high hell. We've been looking at houses for a few months and have finally come across one we absolutely adore. It's an older house (constructed 1922) that seems to have been immaculately kept and regularly maintained. However, with a house that age, it seems likely that there may be some issues. [more inside]
I am advising on the creation of a web portal for the sales of homes. One of the concerns is that buyer and seller will find each other via the site but then carry out the purchase on their own, cutting the site out of a potential "intermediary" fee. Does anybody have any ideas / experience on how this can be addressed?
I'm having a really hard time finding a reputable mortgage broker. The property is in Boston, MA, but I'm willing to work with someone in another state. The most important thing is that they're not slimy or condescending. Can you recommend someone in my area? Anyone to avoid?
My wife is a new RE agent in the L.A. area and is looking for ways to meet people who may be interested in buying/selling a home. Does the community have any ideas on how she can go out and meet this group of people, network with them, and start to generate leads? Thanks.
In New York, and many other cities, developers can build bigger buildings than would otherwise be allowed, as long as they provide amenities such as parks, schools, affordable housing, etc. I want to show students how this works by providing a photo or drawing of a real building, annotated to show how much of the height is due to these bonuses. For example, a drawing of a 50 story building, where the first 30 floors are unannotated, but then 30-35 are labeled "plaza," 35-40 "affordable housing units," 40-45 "subway entrance" and so on. I want it to be from a real building, and clear enough to show via a projector. I'm surprised this doesn't already exist, but I've done plenty of searching and can't find it.
Where does the foreclosure auction when the title transfers from the owner to the bank actually occur and how do I get information about these auctions. I live in NM, but foreclosure auction practices in other states will probably help me figure this out. Also, does anyone have any experience to share on approaching banks regarding properties in pre-foreclosure. Finally, are there forums out there dedicated to these topics. [more inside]
I engaged a realtor - the brother of a friend - as I embarked on a home search. I have not signed a binding agreement with this realtor. So far, he has set me up with an online search site and arranged for me to visit 4 properties. I loved one of these properties and was prepared to make an offer, but before I could do that, the property went under contract to another interested buyer. Meanwhile ... the seller contacted me saying that she really liked me and felt good about selling to me. She wants me to ditch my agent and deal directly with her (she's acting as her own agent) and her closing attorney. 1) Is it legal for me to ditch my agent in order to make this deal happen? 2) How can I be certain that the deal is legit and that I'm not being duped? 3) I LOVE the property, so it's totally worth it to deal directly with the seller if that's what it takes to make the purchase.
I'm well positioned (I think), to become a real estate investor. I'd like advice on how to take it to the next step. [more inside]
How do I find out if a house has been "flipped" ? [more inside]
Does anyone know of a real estate lawyer in Miami with cross certification for NYC? [more inside]
For those with experience in both the Vancouver and San Francisco real estate markets, how would you compare the two? Can you offer any examples of similar neighborhoods? [more inside]
If you own some land, under what conditions can it be taken away from you? [more inside]
A funny Website where people post real life true stories and events in their life??????????????? [more inside]
How do I get a trade focused book published? Should I get an agent? [more inside]