In short: almost everyone we talk to about buying a house in the East Bay (California) states plainly that we will need to waive the appraisal contingency to ever have an offer accepted. This seems utterly insane. Am I missing something? [more inside]
Hello! We were asked by our RE Agent to provide a list of "must have, " "would like to have," and "definitely must NOT have" items as we start our search. We pretty much have the first two sections covered, but haven't really thought out the "must NOT haves" for our future home. We've started a short list, but we don't know what we may be missing... any suggestions? [more inside]
How seriously should I take James Hanson's sea level predictions as I decide where to buy our vacation/retirement home? [more inside]
What do I need to know about selling a house that I don't currently know? [more inside]
In keeping with the recent question about buying a house in a competitive market... Those of you who have written letters to get a seller to pick you when you aren't the highest bidder - what did you write? Tips, suggestions, don'ts, samples all welcome.
I have been wanting to buy a house in my city for several years and am finally in a position of stability (financial and otherwise) to do so. This is exciting! I want to make sure pursuit of this particular goal does not foolishly jeopardize other long-term goals, and need some help sussing out genuine rational concern from irrational fear of commitment. [more inside]
My family has inherited a piece of property that generates income. Whereas the property once had a single owner, now it's split among myself and two or three other people. Some questions inside about how to manage/title things--most importantly, how do I title a bank account for this? [more inside]
I posted this question a few weeks back. The empty lot next door is technically owned by a man who died 2 years ago, I am in touch with his son, who is willing to try to help me obtain the property, but we don't know how to go about doing that, since A: It's in his father's name, B: It has back taxes. Details inside [more inside]
My tenant of 6 years is moving out and I cannot decide whether I want to rent it or sell. I’ve tried several online calculators for this type of thing and gotten different recommendations. My condo is in Denver, CO, one of the hottest home and rental markets in the country right now. Rental occupancy rates are at 96% and rents have been increasing at about 10% annually. Home values in the past year have gone up almost 15% in the last year with 6% growth projected next year. Details after the jump. [more inside]
Y'all's advice on how I could pimp my cover letter actually did get me a ton of interviews and a new job-- hooray, and thank you! So now I'm moving, and I want to buy a house. What do I look for? [more inside]
I have an important deadline in the house buying process this week and I am totally freaking out about it. Perhaps someone wiser than I on mefi can help me not freak out about the upcoming deadlines and also tell me what is going on behind closed doors. [more inside]
After a couple of meetings and tours of my house, a neighbor's sister is going to be making an offer on my house later tonight (via a scheduled phone call). I don't have a realtor, because I am just in the beginning stages of putting the house on the market. [more inside]
YANML. Home was willed to three siblings, two daughters and a son. One daughter relinquished her share, leaving two siblings to own the home. Remaining daughter, in order to avoid paying taxes and insurance on property, had the home's deed changed into the brother's name ONLY. Can anyone, other than deed holder, make claim to the house. More inside. [more inside]
So I'm considering purchasing a condo in Seattle (Ballard, specifically), but I'll be moving cross-country in doing so, and I'm unfamiliar with the local market. A friend who lives there suggested that condos aren't popular in the greater Seattle area, and that they're hard to sell once purchased. Is that true? In general, how is the market for condos in Seattle? [more inside]
My city has been re-writing its zoning code. There has been a lively debate about proposals to allow higher buildings in select areas, and about how doing so -- or not doing so -- would affect other areas in the city. Some argue as if there is a finite amount of 'pressure' to develop, and that if this pressure isn't relieved by up-zoning in the select areas, the other areas will experience more undesirable development than they would if the pressure were relieved. Is this really how it works? [more inside]
Can you help me figure out why a random realtor keeps mailing me letters claiming to know my dad? And what is the best thing to do in response? [more inside]
I want to buy the empty lot next door (a big empty yard where they tore down a house last year). And then I'll basically just have a bigger yard. I found the owner through the county auditor website, and he is deceased. What do I do? [more inside]
My rental house in DC is being sold and my fellow tenants and I are looking into exercising our TOPA rights and selling our right to purchase the house. [more inside]
Apparently when you are looking for a condo, you need something called a "buyer's agent". I'm in Portland, OR looking for a cheaperish condo. Eastside, or North, or industrial NW preferably. Anybody have recommendations for a buyer's agent? Thanks!
My wife and I rent a house (in Philadelphia if it matters). Out of the blue, our landlord had an appraiser do a walk-through today, only a few days after we started the earliest stages of considering buying a house. (We haven't found one we like.) The appraiser said landlord is refinancing, not selling. (I plan to confirm this.) We're thinking about our options. Questions within; experience with (a) buying from one's landlord, (b) selling to one's tenants, and (c) refinancing a rental property especially welcome. [more inside]
We are considering buying an apartment or a small house in downtown Boise, Idaho strictly for renting it out. We live in NJ, but have family in Boise. Please help us understand all the pros and cons and the logistics of buying property from across the country. [more inside]
Can you help me craft the perfect letter that will get me a house? [more inside]
My ex and I are trying to figure out how to transfer the house to her without me losing all of my equity. Unfortunately, she can't afford to just buy me out, and can't qualify for a new mortgage on the remaining loan balance if she's got a loan to me as well. I'm looking for recommendations on finding a lawyer to help vet a legal agreement, and any specific legal methods for making this happen. This is in Denver, Colorado. [more inside]
I am about to purchase a home. The property is located about halfway between Madison and Milwaukee. There is a long horizontal crack in the basement wall, so I know I want a structural engineer specifically, and I also want a more general home inspector. I have no idea how to go about finding and vetting these individuals. Any recommendations for specific individuals, or instructions on how to find them myself? Thanks!
Our lawyer, who is amazing and awesome, told me this morning she was considering bidding at the same auction we will bid at this weekend. She hadn't realised until we sent her the contract to look over. Obviously this is a conflict of interest, and my first reaction was that we should find a new lawyer, but on more careful reflection I'm failing to think of how it could really matter. What could actually go wrong here? [more inside]
My father passed away in 2014 (in TX, if it matters). I am the only heir and my mother pre-deceased him. My father's estate includes the house he lived in. It was fully paid off. There was a court ruling (Dec '14) affirming that I am to inherit his property and that I am the executor of the estate. Do I now own the house? Or is it technically owned by the estate until the (non-mortgage) debts are all finalized? [more inside]
Let's say, for the sake of argument, that I've had a midlife crisis and decided to dedicate my life to creating uninspired exurban developments . . . [more inside]
We're in the process of buying our first home! Yay! We've seen a lot of places and are ready to pick one. (We're in London, if that matters -- but I think the question is location-specific necessarily.) I am the kind of person that tends to think of drawbacks only after I've signed on the dotted line. What do YOU wish you'd thought of/checked out, etc. before you bought your house? In case it matters, we are a couple with a toddler.
I realized this year I have been neglecting depreciation on my taxes. I bought my condo in 2006, and lived there until 2012. Moved out at the end of June, started renting it out in November 2012. How do I calculate depreciation for my taxes? I know you are supposed to divide costs by 27.5 years, but I have questions. [more inside]
We’re unexpectedly inheriting a house and we have a week to decide what to do with it. [more inside]
Every time I visit Vancouver and drive down Granville St between Granville Island and the airport, I notice there are entire blocks full of single family homes for sale. As in, every house on the block is for sale, often by the same realtor, at the same time. Why is this? [more inside]
I have an adult disabled son who has been living in Las Vegas for five years. I am considering purchasing housing in Las Vegas for him to live in. I would like your advice. Details below the fold. [more inside]
An person with a history of ID theft may have gotten ahold of some of my identity information. I want to do all that I can to stop them from stealing my identity. [more inside]
Buying our first home, I'm would like to go with a buyer agent and have our first meeting set with one Saturday. I'm turning to the hive mind for your tip, tricks, questions, and other things you wish you would have done or found helpful during meeting with your realtor. [more inside]
There is a building in Woodley Park, DC that looks completely normal from the front and burnt-out and abandoned from the back. I lived a few doors down from it for about 15 months and never saw anyone go in or out of the back part of the building. Any idea what the deal is, or how I could research this? [more inside]
My mother is moving out of her house and wants to sell it with as little fuss as possible. She doesn't want to make any improvements, hire a realtor, have 'open houses,' or have any protracted negotiations. Her plan is to just take the best offer of a "fast cash buyout" home-buying company. That sounds like inviting a ripoff to me, but we both know very little about selling houses and don't know of any alternatives. [more inside]
I bought a unit in a high-rise condo in Metro Vancouver that will be finished two years from now. How can I get answers to some admittedly obscure questions? The marketing materials are shallow (I can only read the word 'luxury' so many times), and the broker who signed my paperwork at the showroom has been unhelpful. I'm a first-time buyer. [more inside]
Buying a house here in Canada, and my mortgage broker has mentioned that we're in an unprecedented mortgage rate slump, with five-year fixed at about 2.7% and now 10-years at around 3.8%. I can sort of figure out some math here, but I'm not sure I grasp the full nuances of this decision with compound interest, etc. [more inside]
The Mr and I are investigating the possibility of building a backyard cottage/mother-in-law/DADU on our (currently hypothetical future) property in order to supply rental income. We are aware that there are lots of subtleties and gotchas that we would want to learn about from people who have already gone through the process. I imagine there has to be a community out there somewhere. Can anyone help me figure out how to find homeowners who have built backyard cottages themselves so we can hear their stories? [more inside]
My wife and I have a rental property, and it's basically one headache after another - and worse, it's costing us money every month. I need help! But I'm not sure where to go for sound advice. [more inside]
Because we are in New York state, when we close on our refi, we are going to have to sign all of our paperwork in person. As I understand it, New York law requires this. We had our own lawyer present when we closed on the purchase of this house. Should we have one when we close on the refinance? If so, Why? If it matters, we are in Nassau county, and we are refinancing with the original bank who has owned our mortgage since we purchased the home.
I'm about to make an offer on a home. I've seen six different loan scenarios from two different lenders. The monthly payments and $ to close are all in the range that I can afford, so I will probably just pick one for the offer and pre-approval letter. I told my realtor that after the contract is accepted, I want to sit down with a CPA of some sort (yes Metafilter, fee-only) and figure out which is best for me, given my tax and employment and personal details that the lenders don't seem to want to consider. She said that she has never had a client ask for that before. Really?! [more inside]
We are thinking of moving out of the city to live in a suburb of Boston. It seems like a mysterious, scary, massive step to take. Do you have experience in real estate? Have you moved from the city to a suburb? Please help us think through the pros, cons, and logistics of buying a house for the first time, like we're 5 years old. [more inside]
My wife and I are actively looking to buy a house in Kingston, Ontario and have been working with a real estate agent that we're quite happy with. What would the advantage of having a real estate lawyer in the mix be? We're considering modestly priced single-family homes, possibly with an added apartment, and not sure what value we'd get by adding about $1,000 in legal fees to the proceedings. [more inside]
Could you recommend a good real estate agent who really knows the Ballard neighborhood of Seattle? The Mr and I have rented in Ballard for 5 years and we want to stay here when we buy a home. We've run the numbers and we can afford it (now), but since there is so much subdivision and new construction, we want someone who's really got their finger on the pulse and can almost see the future. [more inside]
My friend is inheriting a house and some land in Connecticut. There was some confusion about property lines and some chatter re: possible "restrictions" on developing the land, so they got a new property survey. There is a note on it "Rights, restrictions, encumbrances, covenants, easements, etc., as per the record may appear" Question- 1. How do they know the property is clear (if that is the right word)? 2. How to determine the current market valuation? Start w/ an Appraisal and Home Inspection? 3. Is the survey deductible? Any other thoughts are welcome.
I've been looking at real estate in County Cavan, Ireland and have a question about the wording. I notice that the word "derelict" is used - does this have a specific meaning in Irish law as it relates to property, or are they using it in the common sense of neglected? There are a lot of properties that are described as derelict but look entirely livable with a few weeks labor. [more inside]
I have a house that I need to sell. It's currently occupied, and the tenants really love living there. I don't want to ask them to move out until I close, both because I need the rent to pay the mortgage until I sell, and because it's just mean to ask them to move out in winter (they've got two little kids). So I'm going to put it on the market while occupied. Are there any best practices here? [more inside]
Can anyone suggest a good book for a first time home buyer in Canada? My wife and I are hoping to purchase our first home in the coming months and we're a bit intimidated at the process. I've seen similar questions before, but the books seemed to be directed at people located in America and I don't know if those would be as applicable or not.
I would like to know what happens when a lender finds a recent change in leadership during due diligence for a loan, such as a business loan or a real estate loan to an organization. [more inside]