Showing posts with label RealEstate. Show all posts
Showing posts with label RealEstate. Show all posts

Wednesday, December 13, 2017

Buying house from landlord - VA RealEstate

Currently renting a single family home in Northern Virginia for 1.25 years now. The landlord who is also a realtor purchased the home with the intention of flipping before renting out to us and now he would like to sell it. He gave the option of selling to us, the tenant and would apply what he would pay a realtor to pay our closing costs +/- 11K.

Online estimates are around $460 while he wants $480 with 11K applied to the closing. The landlord purchased the house 9/16 for $395K and subsequently began renting to us.

Comps are around $440 - $460

He did do some updates, to what degree of correctness that's debatable. He is wanting to sell for 479K and put in new stainless steel dishwasher and refrigerator, existing is perfectly fine. Put a new roof on and new HVAC since it's not R134. There are a couple other issues that need to be fixed such as a cracked hearth stone rendering the fireplace useless, some issues with the windows, exterior and landscaping.

One caveat is my father is a general contractor so we were thinking of seeing what his as is offer is.

To speak to the convenience factor there are two other issues. First, we have a 120lb dog and a 10mo old baby, we have a yard that the dog can run in 1-ish acre and also be moving in January is kinda hell. So there are a few factors in our favor.



Submitted December 14, 2017 at 12:10AM by silentsvn http://ift.tt/2z90ug4 RealEstate

Saturday, November 25, 2017

Buying a house, some concerns with the property after inspection/property research RealEstate

Hi All,

We are first time prospective home buyers in a competitive market. We recently had an offer accepted on a house, but have a few concerns after inspection. Basically, the house is nice but has a few problems that we feel indicated the house was flipped somewhat carelessly. This is making us concerned that there might be deeper problems/the recently renovations might be of suspect quality.

Some Details of the property:

  • House was purchased in 2014 for $340k, being sold now for $480k.

  • Two family house, built 1910.

  • One unit is recently renovated. Owners lived in one unit while slowly renovating the other. The renovated unit was only lived in for maybe a few months in spring 2017 before they moved out and tried sell.

  • The first unit is nice but not renovated, could use a ~$3-4k kitchen upgrade before renting.

  • New boilers for both units. New electrical, plumbing, ikea kitchen in the renovated unit.

During inspection, we noticed a few smaller concerns, such as the refrigerator water wasn’t attached, there are broken windows/missing storm windows, no locks on the windows, missing closet door, radiators were loose (found out heating hasn’t really been used), etc. No deal breakers, but this made us feel that the renovations might be a bit rushed.

This led us into taking a hard look at some of the bigger issues. Talking to the selling agent, it sounded like the now-renovated unit had some major issues (both cosmetic and electrical) that were fixed over the past few years. The entire electrical system was just replaced due to poor wiring before they could bring to market (sounds like they only found this out in the summer, and it delayed them going onto market until now). Electrical is now fixed, but sellers went overbudget – we think this is why some of the smaller things were left unfinished.

We also have some of our bigger concerns after the inspection:

  • Asbestos, radon in the basement. Most of the asbestos is in good condition, but several areas where it is cracking/damaged.

  • Plumbing was replaced in renovated unit but not throughout. A few visible old cast iron pipes with blobs of rust/at end of life. Concerns that this is an upcoming big repair.

  • Renovated unit is listed as a 3 bed/2 bath, but serves more as a 2 bed/1 bath. 1 bedroom/bathroom is in the newly finished attic (~250 sq ft), but there is no heating element (other than open stairway to downstairs heat), no door on the bedroom, and no shower in the bathroom (bathtub only).

Based on this, I have two questions/thoughts that I’d like some feedback on:

  • I’m not sure if we are not being rational/being over concerned regarding the smaller or even potential bigger issues. I’m certainly concerned with the potential quality of the work given it was for the flip, but certainly emotionally reacting based on the problems I see vs. the apparent profit the sellers are making.

  • We are considering being very demanding after the inspection or walking away. The house has some great features as is in a very desirable/competitive neighborhood, but we think it is priced a bit high given our concerns with the attic space + potential future repairs.



Submitted November 25, 2017 at 09:17PM by grandon http://ift.tt/2iR1CMP RealEstate

Buying a house, some concerns with the property after inspection/property research RealEstate

Hi All,

We are first time prospective home buyers in a competitive market. We recently had an offer accepted on a house, but have a few concerns after inspection. Basically, the house is nice but has a few problems that we feel indicated the house was flipped somewhat carelessly. This is making us concerned that there might be deeper problems/the recently renovations might be of suspect quality.

Some Details of the property:

  • House was purchased in 2014 for $340k, being sold now for $480k.

  • Two family house, built 1910.

  • One unit is recently renovated. Owners lived in one unit while slowly renovating the other. The renovated unit was only lived in for maybe a few months in spring 2017 before they moved out and tried sell.

  • The first unit is nice but not renovated, could use a ~$3-4k kitchen upgrade before renting.

  • New boilers for both units. New electrical, plumbing, ikea kitchen in the renovated unit.

During inspection, we noticed a few smaller concerns, such as the refrigerator water wasn’t attached, there are broken windows/missing storm windows, no locks on the windows, missing closet door, radiators were loose (found out heating hasn’t really been used), etc. No deal breakers, but this made us feel that the renovations might be a bit rushed.

This led us into taking a hard look at some of the bigger issues. Talking to the selling agent, it sounded like the now-renovated unit had some major issues (both cosmetic and electrical) that were fixed over the past few years. The entire electrical system was just replaced due to poor wiring before they could bring to market (sounds like they only found this out in the summer, and it delayed them going onto market until now). Electrical is now fixed, but sellers went overbudget – we think this is why some of the smaller things were left unfinished.

We also have some of our bigger concerns after the inspection:

  • Asbestos, radon in the basement. Most of the asbestos is in good condition, but several areas where it is cracking/damaged.

  • Plumbing was replaced in renovated unit but not throughout. A few visible old cast iron pipes with blobs of rust/at end of life. Concerns that this is an upcoming big repair.

  • Renovated unit is listed as a 3 bed/2 bath, but serves more as a 2 bed/1 bath. 1 bedroom/bathroom is in the newly finished attic (~250 sq ft), but there is no heating element (other than open stairway to downstairs heat), no door on the bedroom, and no shower in the bathroom (bathtub only).

Based on this, I have two questions/thoughts that I’d like some feedback on:

  • I’m not sure if we are not being rational/being over concerned regarding the smaller or even potential bigger issues. I’m certainly concerned with the potential quality of the work given it was for the flip, but certainly emotionally reacting based on the problems I see vs. the apparent profit the sellers are making.

  • We are considering being very demanding after the inspection or walking away. The house has some great features as is in a very desirable/competitive neighborhood, but we think it is priced a bit high given our concerns with the attic space + potential future repairs.



Submitted November 25, 2017 at 09:17PM by grandon http://ift.tt/2iR1CMP RealEstate

Sunday, November 19, 2017

Question on deducting rental start up costs RealEstate

You can deduct up to $5k in expenses (and amortize the rest over $5k) for getting your rental property ready to rent out in the year you rent it out.. my question is do those expenses need to occur in the year you rent it out or is the year prior okay too?

E.g., In December 2017 I am going to prepare a house I own (buying refrigerator, washer, dryer, etc) to rent out for the year 2018. I won't place any rent ads until March 2018. But I will buy a washer and dryer in December of 2017. For tax year 2018 will I be able to deduct my expenses incurred in December of 2017 as startup costs?



Submitted November 20, 2017 at 09:02AM by LocalForumTr0LL http://ift.tt/2ASXXET RealEstate

Saturday, November 18, 2017

Looking for advice for buying/negotiating my first home. RealEstate

Hi all. Looking to buy our first home that isn't an apartment. We are looking at a townhouse priced at 173k. Other specs include 1370 sqft, 3 bed/2.5 bath, spread over 3 stories. The location is in Phoenix, AZ.

Some points that I'm considering for negotiation:

  • We have been approved for a loan of 250k, but if we get a loan using the realtor's lenders, they take 3k off of the house.

  • As far as I am aware, the house does not come with a refrigerator and a washer/dryer. Dishwasher/oven/microwave/garbage disposal are included.

  • This is a brand new property, under construction as of today and expected to be completed around January. The entire community is a brand new collection of townhomes. This might deflate my bargaining power since they are brand newly built.

I'm new to the process of buying a house, so I am really looking to leverage my power to get a good deal, but granted I think the price is already fair. I'll disclose most information if needed, just not entirely sure what is important. Thank you for any help!



Submitted November 19, 2017 at 08:09AM by Synikx http://ift.tt/2yX5Zfm RealEstate

Looking for advice for buying/negotiating my first home. RealEstate

Hi all. Looking to buy our first home that isn't an apartment. We are looking at a townhouse priced at 173k. Other specs include 1370 sqft, 3 bed/2.5 bath, spread over 3 stories. The location is in Phoenix, AZ.

Some points that I'm considering for negotiation:

  • We have been approved for a loan of 250k, but if we get a loan using the realtor's lenders, they take 3k off of the house.

  • As far as I am aware, the house does not come with a refrigerator and a washer/dryer. Dishwasher/oven/microwave/garbage disposal are included.

  • This is a brand new property, under construction as of today and expected to be completed around January. The entire community is a brand new collection of townhomes. This might deflate my bargaining power since they are brand newly built.

I'm new to the process of buying a house, so I am really looking to leverage my power to get a good deal, but granted I think the price is already fair. I'll disclose most information if needed, just not entirely sure what is important. Thank you for any help!



Submitted November 19, 2017 at 08:09AM by Synikx http://ift.tt/2yX5Zfm RealEstate

Tuesday, October 10, 2017

Considering buying my parents foreclosure house. Looking for some knowledge... RealEstate

My parents were evicted from their house and it is in "pre-foreclosure" right now on Zillow. I know what the interior of the house looks like, and it is in good shape, just dirty and would be a super easy flip. All my parents' furniture and everything is inside too and I know what it is worth (to be honest not much but they left EVERYTHING inside including 3 refrigerators, washer/dryer, etc.).

My parents have since moved (they were basically homeless after the eviction) and moved out of state. I actually don't even want to tell them I am considering this. I wouldn't buy it just to give it back to my parents or anything. I would buy it for my own gain because I have some knowledge that the house is in good shape but other people can't see the inside and might not see that value.

However, one thing is I know they have HOA lien plus probably some other liens on the house. This could be an issue. I could find out more of the details from my parents.

The pre-foreclosure price listed on Zillow is still kind of high in my opinion. It is near normal market value. Is this normal?

Any feedback/advice?

This was just an idea that popped into my head and I am sitting on a good amount of cash so if this is a good potential opportunity, I don't want to just pass it up without really exploring it as an option.



Submitted October 10, 2017 at 10:59PM by foreclsourethrowaty http://ift.tt/2i1qnbx RealEstate

Sunday, September 24, 2017

I need to sell my house RealEstate

Hi Ok, so I live in America, in Florida specifically. My house is a ranch-style build in 1980. Its approximately 1700 square feet on a 1/4 acre lot within a sub division. I want to sell my home and the home has a few issues. So I am asking here to find out what should I do?

I have not had a realtor go over the property. But from what I can say, the property needs a new fence, the master bathroom shower needs to have the tile replaced (some of the tile is slightly bulging out away from the wall - I suspect some water got in there and there may be mold- I stopped using it months ago in hope of drying it out and maybe stopping any further damage- the roof needs some repairs made- the chimney surround's wood on the roof is rotten and crumbles away when you touch it- The trim around the roof is also bad and needs replaced- the garage door is cracked and the automatic opener does not function- the garage ceiling has no dry wall- the previous owners merely screwed thin wood sheets into the 2x4's with no drywall on the other side- the electrical box is out dated and not up to code- I also suspect that the house needs to be re-wired as I cannot run a toaster and the toaster oven at the same time- The kitchen cabinet's doors were for some reason all removed by the previous owner, and for some reason replaced with 1 inch thick, heavy boards - no idea why-

Thats about it- theres a new air conditioner, new washer / dryer, new stove, new refrigerator , new dishwasher all stainless steel kitchen appliances. The house has a parlor and dining room area that is closed off from the rest of the home by french doors-

Oh, the porch, there is a porch that seems as if the previous owners constructed it themselves- it is screened and no glass- the porch roof leaks when it rains-

What are the major issues that I should address before trying to sell this house? Zillow lists the house as being worth 180K but, Zillow doesnt know about the issues I described.

I want to sell the house and walk away with 150K after the realtor fees etc- I can realistically invest 10K for repairs by November- I would like to sell the house by January.

What should I focus on and should I bring in a realtor or home inspector to tell me what is most important to address with my budget?

Is it better to sell the house "as is"?

Keep in mind, I want to walk away pocketing 150K.

What should I do?



Submitted September 25, 2017 at 02:58AM by housematters http://ift.tt/2hsxNRp RealEstate

Thursday, September 7, 2017

[Oregon] Have almost negotiated a house down to my budget in a tight seller's market. Need some last minute advice. RealEstate

The Scenario: I live in a tight market with nothing for less than $250k that lasts for more than a couple days. I found a good house with an odd layout, priced at $170k that was on the market for 3 weeks. I offered $140k with $5k closing costs. Within an hour they countered with $160k with $3k closing cost and reduced our inspection time from 10 days to 7 days. Their realtor told my realtor that the owner had refinanced and needed to close at a certain price to cover the mortgage and have a good down payment on her next house (which doesn't matter to me in the slightest - I have a budget too and their counter doesn't fit my budget).

Last night I waited until the counter-offer was about to expire and offered $148k with $3k closing, plus I increased the earnest from $500-$1500 to show we were serious. My agent was just at my work for service (unrelated to our deal) and while he was here he got a text message from their agent asking if we would accept $150k with $1k closing, and they keep the refrigerator. He also mentioned he sent the counter in text so that we could avoid writing up all the paperwork and counters again (I think they're desperate to sell this place fast).

My budget for down payment and all costs to close, including inspection, appraisal, etc., is about $32k. Because of an issue with my credit and work history, my underwriter is requiring that I have 20% down payment ($30k on $150k). My realtor said my closing costs, inspections, etc., are going to run around $4500. If they cover $1000, that leaves me $1500 over my budget and I'll have to buy a refrigerator (approx $700).

So here's where all my questions come in... Am I missing a bargaining chip with the fact that they're texting my realtor asking if I'll accept their counter before they send it? Is that some sort of trap or are they desperate to sell this place ASAP? Should I tell my agent to text him back saying we need it to be less? Would it make sense if I increased my offering price to $152,500 (my down would increase to $30,500) and require they cover $4500 closing costs, then I would have $1500 left for additional costs, plus a refrigerator?



Submitted September 08, 2017 at 04:31AM by OMGTako http://ift.tt/2wcSy8I RealEstate

Monday, September 4, 2017

Potential sellers have totally pissed me off... but I love their house. RealEstate

So my wife and I are first time home buyers in Florida. We went and looked at a house that was below our budget but didn't leave much room, and in a decent area with average schools (were dinks). We knew this house had the potential to be a home we could raise a family in.

We offered asking price they pay closing costs. They are original owners and they bought the house in 86. They countered with 2900 in closing. Which my wife and agreed was whatever, we got a lender credit were only out of pocket 1900 for closing.

Here's the catch. They are closing on a different house later this month. They want to take the refrigerator and dishwasher from that house and put it in the house they are currently living in. So they are showing a house knowing full well those appliances are not staying. The rest of the kitchen is original except for the countertop and sink and the two aforementioned appliances. Even if they accepted our counter offer - they do the 2900 in closing we keep the appliances as shown in the house the stupid things wouldn't even be in the house for the home owner to inspect it along with the rest of the house.

How can they offer us appliances they don't own? They are using a broker not an agent. On top of that, they have ignored the offer timelines and their broker has dodged our agents emails and calls. I don't even know what to think. Can we accept their original counter offer at this point?



Submitted September 05, 2017 at 07:59AM by captainJmorgan http://ift.tt/2wC893N RealEstate

Wednesday, April 19, 2017

[CA] Seller did not disclose problem discovered during their 3 days to move after close of escrow. Am I being advised appropriately? RealEstate

This is sort of an update from my previous post in /r/homeimprovement but there are new facts and I am hoping to get your guys' thoughts as well. Check out http://ift.tt/2nR7BCx for pictures. Sorry, this is long, but here are the facts:

  • The owner of the property is also the agent. She is licensed, and I will be referring to this person as "seller"
  • Inspection is performed during escrow period but refrigerator is not moved to inspect the inaccessible area
  • On the Real Estate Transfer Disclosure Statement and Seller Property Questionnaire, the seller notes she is not aware of presence of mold
  • We close escrow on 3/28 and per our contract/agreement, we allow 3 days after close of escrow for the seller to move
  • Seller moves out on 3/31 and they take the refrigerator (to which it was agreed), and we get keys
  • On 4/3, I discover water damage, mildew, and what I think is mold on the wall behind the refrigerator and immediately contact our realtor (note: I was out of state from 3/31 to 4/2)
  • Our realtor contacts seller and notifies seller of issue. My wife and I are not part of the discussion during this time, but there's a lot of back and forth between seller and our realtor (note: discussions are cordial in nature according to realtor)
  • Our realtor tells me the seller acknowledges she noticed water dripping from the valve on the refrigerator ice maker box after the waterline was disconnected but did not think much of it or disclose to me or my agent
  • Also, according to our realtor, the seller states she'd like to help repair this issue
  • Our real estate risk management team and realtor contact an inspector, samples are taken, a lab analyzes them, and it is determined there are 3 different types of mold spores within the walls. The cost to remedy mold is $600 plus $250 for post-treatment air test. But there's also wall repairs needed, the cost of which has not been estimated
  • The seller now says she is only willing to cover $600 and that's all. We get an estimate for the entire repair of removing mold and replacing/painting drywall and the grand total is $2,300. The seller is not currently aware of the final cost yet
  • RE Risk Management advises us to send a letter of demand requesting for $2,300 due to: 1. This is a non-disclosure issue since the seller acknowledged to my realtor she discovered the problem during their move; 2. This is a pre-existing condition and seller is liable (but they are not attorneys so they can't determine legal liability); and 3. The seller is not just an owner, she is also a licensed real estate salesperson, so she is held to a higher standard
  • We're also advised to send a letter of complaint to BRE

We haven't sent out the letter of demand or the complaint to BRE yet, but we plan to do so tomorrow. In the mean time, the repairs will be taken care of by us. So, what do you guys think?



Submitted April 20, 2017 at 02:38AM by DoctorHousesCane http://ift.tt/2o57Ltg RealEstate

Thursday, March 30, 2017

Landlord and Breaking a Lease RealEstate

We are in the process of finally moving into our new forever home. Our lease is for 1 year, starting July 20th and ending July 20th. We live in a very hot rental market and will be moving 2,000 miles away. Our home closure date is May 1st.

We told him of all of this upon our signing of the lease, well in advance, and he swore he would break the lease with zero issues. We said that we are currently selling our starter home and looking for our forever home. He was obviously okay with us closing out our lease early, but there is no mention of it in the lease itself. (Our family knows his family, and his family is extremely rich/owns the entire local town.)

We told the landlord we would be moving a little over 30 days before we move out. We are going to pay for May even though we will be gone by April 25th, just to make sure that the cleaners and carpet cleaners can get into the house after we leave. We have family in the area that will be monitoring the clean-up for us. We will also be cleaning as we slowly pack things into the moving truck. The cleaners alone will be close to $500 upon move out, as we live really far away from a real town. We have them set up to come in before May 1st. So, really, we are paying May just to keep him happy and to be nice.

The landlord is not happy. We are their first tenants in this house, after his nephew lived here and destroyed it - which we cleaned up/helped fix before move in. He wants us to pay all of the rent until end of July. That is 2 additional months (3 if you count us paying for May) that we will have to pay, and equals about $2,000 ($3,000 with us paying for May).

He has also made some comments about the house being "brand new" upon our move out. Yet, it was hardly brand when we moved in. In this area, landlords almost always keep security deposit. We assumed we would never get it back, anyways, and took that into account. He's the type that basically would charge for any little nick in the paint and over charge for it. I'm a little tired of repainting walls (etc), to appease his final move-out. We have been keeping this house in tip top shape, but he visited without warning - again - yesterday, and was complaining about the red clay on the back porch which just needs to be washed off. (This is a habit of his, we get a text message he will be here and he's actually texting from the drive way or the backyard looking into our windows. We've had zero privacy here, such as the nephew showing up randomly, him showing up, and the neighbor's constantly doing things with the cows next door while using our driveway.)

He also said that we are going to be the ones finding a new renter. I flat out denied us doing this for him, and explained that his house would rent really quickly if he listed it. This is absolutely true, if he actually looked for a renter himself. I also think this is not our responsibility, and while our families know each other (welcome to the south!)...we think if he found a new renter, that he would still be charging us rent without us really knowing someone else was in the house. So, he'd be getting income from two sources. We're not sure why he wouldn't want to look for a renter himself, as that is in his benefit, and we're not sure why he is forcing us to keep the entire lease when I am absolutely sure he can get another renter really quickly (school year is ending, and lots of people - thousands - are constantly viewing for rentals in this area around now).

For the final pièce de résistance, he said that he wanted us to leave our (really nice) appliances in the house that we have had for about 2 years. We're talking stainless steel fridge, our lawnmower, our washer and dryer. The house came with none of these, and he was lucky we had some to use. He offered us (for example) $500 for our stainless steel fridge, $75 for our washer and $75 for our dryer. He wants the lawnmower for free. Mind you, these appliances aren't even 3 years old yet. He claims to want to keep them in the house for other potential tenants, but he is lowballing the hell out of us on them. We want to take them with us, but if we are in a poor financial state - we might sell them to him (though we really don't want to).

He's also been complaining lately that he did not charge us enough rent. Admittedly, it was a bit low but not by much ~$50, and did not include any appliances and a ton of up-keep of the property. The way he mentioned it made me feel like he didn't want us to slowly start saving up for a down payment on a house (we already had the money from our sale). It was like he was admitting to try to "trap us" in this house for longer than we wanted to. Really nastily said, and you can tell he is bitter than we are moving on/not giving him any more money in the future.

We are now concerned that he will not only keep the $1,500 security deposit but is also getting additional rent from us ($2k-$3k), wants us to find a new tenant (??), and wants to keep our appliances we bought for extremely low prices. This is around $5,000 we will be losing because of him, not counting the appliances.

Is there anything we can do? We are verging on just paying the additional two months, losing our security, and getting out of dodge as soon as possible.

Edit: This is in Georgia. To be fair, we understood that he might need a bit of time to find another renter...which is another reason that we wanted to pay for May. However, he wants us to pay for May, June, and July...and basically wait until the end of the lease to find a renter instead. He absolutely does not want to do his due diligence to find another renter until absolutely necessary. It should not take 3 months to find a new renter, at all.



Submitted March 30, 2017 at 11:43PM by meowsalot22 http://ift.tt/2mTmPKh RealEstate

Landlord and Breaking a Lease RealEstate

We are in the process of finally moving into our new forever home. Our lease is for 1 year, starting July 20th and ending July 20th. We live in a very hot rental market and will be moving 2,000 miles away. Our home closure date is May 1st.

We told him of all of this upon our signing of the lease, well in advance, and he swore he would break the lease with zero issues. We said that we are currently selling our starter home and looking for our forever home. He was obviously okay with us closing out our lease early, but there is no mention of it in the lease itself. (Our family knows his family, and his family is extremely rich/owns the entire local town.)

We told the landlord we would be moving a little over 30 days before we move out. We are going to pay for May even though we will be gone by April 25th, just to make sure that the cleaners and carpet cleaners can get into the house after we leave. We have family in the area that will be monitoring the clean-up for us. We will also be cleaning as we slowly pack things into the moving truck. The cleaners alone will be close to $500 upon move out, as we live really far away from a real town. We have them set up to come in before May 1st. So, really, we are paying May just to keep him happy and to be nice.

The landlord is not happy. We are their first tenants in this house, after his nephew lived here and destroyed it - which we cleaned up/helped fix before move in. He wants us to pay all of the rent until end of July. That is 2 additional months (3 if you count us paying for May) that we will have to pay, and equals about $2,000 ($3,000 with us paying for May).

He has also made some comments about the house being "brand new" upon our move out. Yet, it was hardly brand when we moved in. In this area, landlords almost always keep security deposit. We assumed we would never get it back, anyways, and took that into account. He's the type that basically would charge for any little nick in the paint and over charge for it. I'm a little tired of repainting walls (etc), to appease his final move-out. We have been keeping this house in tip top shape, but he visited without warning - again - yesterday, and was complaining about the red clay on the back porch which just needs to be washed off. (This is a habit of his, we get a text message he will be here and he's actually texting from the drive way or the backyard looking into our windows. We've had zero privacy here, such as the nephew showing up randomly, him showing up, and the neighbor's constantly doing things with the cows next door while using our driveway.)

He also said that we are going to be the ones finding a new renter. I flat out denied us doing this for him, and explained that his house would rent really quickly if he listed it. This is absolutely true, if he actually looked for a renter himself. I also think this is not our responsibility, and while our families know each other (welcome to the south!)...we think if he found a new renter, that he would still be charging us rent without us really knowing someone else was in the house. So, he'd be getting income from two sources. We're not sure why he wouldn't want to look for a renter himself, as that is in his benefit, and we're not sure why he is forcing us to keep the entire lease when I am absolutely sure he can get another renter really quickly (school year is ending, and lots of people - thousands - are constantly viewing for rentals in this area around now).

For the final pièce de résistance, he said that he wanted us to leave our (really nice) appliances in the house that we have had for about 2 years. We're talking stainless steel fridge, our lawnmower, our washer and dryer. The house came with none of these, and he was lucky we had some to use. He offered us (for example) $500 for our stainless steel fridge, $75 for our washer and $75 for our dryer. He wants the lawnmower for free. Mind you, these appliances aren't even 3 years old yet. He claims to want to keep them in the house for other potential tenants, but he is lowballing the hell out of us on them. We want to take them with us, but if we are in a poor financial state - we might sell them to him (though we really don't want to).

He's also been complaining lately that he did not charge us enough rent. Admittedly, it was a bit low but not by much ~$50, and did not include any appliances and a ton of up-keep of the property. The way he mentioned it made me feel like he didn't want us to slowly start saving up for a down payment on a house (we already had the money from our sale). It was like he was admitting to try to "trap us" in this house for longer than we wanted to. Really nastily said, and you can tell he is bitter than we are moving on/not giving him any more money in the future.

We are now concerned that he will not only keep the $1,500 security deposit but is also getting additional rent from us ($2k-$3k), wants us to find a new tenant (??), and wants to keep our appliances we bought for extremely low prices. This is around $5,000 we will be losing because of him, not counting the appliances.

Is there anything we can do? We are verging on just paying the additional two months, losing our security, and getting out of dodge as soon as possible.

Edit: This is in Georgia. To be fair, we understood that he might need a bit of time to find another renter...which is another reason that we wanted to pay for May. However, he wants us to pay for May, June, and July...and basically wait until the end of the lease to find a renter instead. He absolutely does not want to do his due diligence to find another renter until absolutely necessary. It should not take 3 months to find a new renter, at all.



Submitted March 30, 2017 at 11:43PM by meowsalot22 http://ift.tt/2mTmPKh RealEstate

Sunday, March 26, 2017

Questions about items staying with home after sale RealEstate

I have a co-owner that lives in a different state. I bought a refrigerator and chandelier last year (he paid me no money for either). We are including those two to be bought with the home. Does he owe me half for those items if the home sales with the items in it?



Submitted March 26, 2017 at 09:06PM by starwarsforcefan http://ift.tt/2mEpgQz RealEstate

Tuesday, February 21, 2017

Colorado Tenants Rights/Law RealEstate

I am currently living in employee housing in Fraser, Colorado and had a couple questions that hopefully someone may help answer or point me in the right direction. The rent is taken out of our paycheck and I don't know if contacting the landlord directly will help. As the housing is through the company and not through the owners.

I currently live with 24 other people, all employees of a company. We have had several issues come up, and have contacted the housing manager to no avail. Multiple emails, personal contact over the course of over a month. Issues like the water heater not working, no hot water, broken and failing refrigerators.

I was wondering what course of action we can take since nothing is being done despite contacting them multiple times.



Submitted February 22, 2017 at 05:24AM by egothrasher http://ift.tt/2m9TTJI RealEstate

Friday, February 17, 2017

Need professional input on situation RealEstate

If this is not an appropriate subreddit to post this in I apologize in advance. I'll also post it to /r/realtors. Super long but there is a TL;DR at the end. Thank you very much in advance if you take the time to to read/answer.

My fiancé and I just closed on our first home today. It was a short sale in New Jersey that took about 4 months to complete. Our realtor is a family friend which is why we would like some input from other professionals before we approach him with the issue at hand. Trying to avoid any awkward 'tensions.'

When we signed the contract months ago we asked our realtor about the appliances and if they were staying. The typical kitchen appliances and in the basement was the washer and dryer and an extra refrigerator. Our realtor asked the sellers realtor who said the seller was okay leaving them. (I'll have to skim through the contract but can't recall for certain if that was put into the contract or not.) Fast forward to today when we were doing our final walk through our realtor brings up that the seller apparently told his realtor he wants the extra refrigerator from in the basement. That he's in no rush and understands we have a lot to do and when we're settled in we can contact our realtor who will contact them and arrange for them to come get it. We both were a bit taken back but said "uh okay I guess that's not a problem."

Apparently the seller claims the help he had during the move had to leave prior to getting the fridge out. We were actually there that day they were moving out. We had asked our realtor who asked theirs if we could come over and grab some measurements for furniture and he said it was okay because they were to be moved out the day prior. Guess things got delayed because the day we went they were there moving out. I even offered the seller a hand with moving any larger items if he might need it but he declined.

Later today after talking to some family and friends they don't think it's right. That if they wanted the extra refrigerator they should have said it prior and should have moved it out when they moved their other belongings out. They also explained some scenarios that have us a bit worried. We have our painter coming tomorrow to start painting and I have a torn labrum in my left shoulder and don't have any one else available to come help get it up before he paints. Once the kitchen and stairwell to the basement are painted what happens if when the refrigerator goes to get moved out the paint gets messed up? Or what if during the move if the refrigerator were to break could the seller say it was our fault? What if we were to get hurt while trying to move it? Or what if the seller were to come and move it and he got hurt? It just seems like it opens doors to potential liability issues/property damage that we have no desire to deal with. We just don't want our realtor to have any bad feelings towards us nor do we want any problems with a potentially upset seller. It's not like we NEED the fridge but we also don't NEED to deal with the headache of getting it out. Any professionals that can maybe explain how to handle this situation? Really appreciate it.

TL;DR closed on house today. Seller who said appliances were staying now wants extra refrigerator from basement. They already moved out, we closed TODAY. Painter coming tomorrow. We're worried if we try to move it after the walls are painted about damage. As well as potential damage to fridge or injuries.



Submitted February 17, 2017 at 11:59AM by taF_- http://ift.tt/2lq6tGS RealEstate

Saturday, January 7, 2017

Upscale townhome: large interior unit vs exterior unit. RealEstate

I am thinking about purchasing a townhouse instead of a single family house to be closer to the action and have less to worry about in terms of exterior maintenance.

I want an exterior unit for more light and one less neighbor, but I like the layout of the larger interior units. Light doesn't seem to be an issue with the open layout of the three story townhouse. Also the price of the townhouse is really high for a townhouse and they see mot be going above the standards many other townhouse use. They never have standard subzero refrigerators.

In higher quality constructed townhouse is noise still a big factor? The less windows is not as much of an issue since the open layout provides great lighting.



Submitted January 08, 2017 at 08:02AM by randomthrower2 http://ift.tt/2i3KKPw RealEstate

Saturday, December 17, 2016

[Florida] Renovating my condo to sell it. Any suggestions? RealEstate

I'm renovating my condo. I've already re-done my kitchen cabinets (sanded, painted). I will be replacing the laminate kitchen countertop with a granite, quartz, or butcher-block countertop. I'm also going to add a backsplash, replace the faucet/sink, add new fixtures to the cabinet doors, and replace the range, range hood, refrigerator, and dishwasher with stainless steel appliances. For the rest of the apartment, I'm going to replace the flooring with laminate. I've already ripped out the 30 year old shag carpet.

My budget is $5K. The purchase price for the condo was $80K back in 2004. Comparable apartments in this complex that have been renovated somewhat are listed for $110K to $115K. I'll list mine at $110K, but I'm just hoping for $100K. Does this sound about right? I'm trying to relocate, so I don't want to have it stuck on the market for a while.

The appliance set I'm looking at is $1269. The laminate flooring ranges from $990 to $1390. Do people prefer no gloss laminate, medium gloss, or high gloss? If I go with a quartz countertop, it's gonna run me about $1000 including installation. If I went with a butcher-block countertop, should it match the laminate flooring? I have no idea how much a sink/faucet is going to run me.



Submitted December 18, 2016 at 06:01AM by zenitron http://ift.tt/2hHdyiv RealEstate

Tuesday, October 25, 2016

How to tell how much my house is worth without listing it? RealEstate

We're really not in the market to sell our house, but if the price is right anything can be for sale. We bought the house a year ago, but have since have re-done the kitchen, paint almost all throughout, new a/c and furnace, brand new appliances (oven, refrigerator, microwave, and dishwasher) were bought by previous homeowners and new carpet a week before we moved in. I feel like we got a decent deal I don't want to waste a realtors time if we aren't totally serious about selling it, but if it has gone up in value quite a bit, it could change my mind.



Submitted October 26, 2016 at 04:27AM by husker16 http://ift.tt/2eCJm9c RealEstate

How to tell how much my house is worth without listing it? RealEstate

We're really not in the market to sell our house, but if the price is right anything can be for sale. We bought the house a year ago, but have since have re-done the kitchen, paint almost all throughout, new a/c and furnace, brand new appliances (oven, refrigerator, microwave, and dishwasher) were bought by previous homeowners and new carpet a week before we moved in. I feel like we got a decent deal I don't want to waste a realtors time if we aren't totally serious about selling it, but if it has gone up in value quite a bit, it could change my mind.



Submitted October 26, 2016 at 04:27AM by husker16 http://ift.tt/2eCJm9c RealEstate