I was just reading closing instructions for a property under contract. The property is in an estate after the owner has passed away. The personal representative, a member of the family, has been authorized to conduct the transaction. in the closing instructions it’s specifically calls out that when there is a deed via personal representative there is no responsibility for the correct language or preparation of the deed by the closing company.Does anyone have any experience or suggestions on details needed to proceed correctly?
I though the sub would enjoy this listing:This is a property being sold in “As is” condition. You will not be able to live in the property and the interior can not be viewed. Property is currently est.1680 square feet which has an allowable usable floor area of 4000 square feet. Property can only be purchased for cash. No financing. Please do not disturb the occupants for information regarding this property. Please call for further information.
Have any of you been seeing this insanity?https://imgur.com/a/LOByEf688% DTI on a $1.4m home with 0% down “meh” FICO score, hmmmmmm what could go wrong….
Hey everyoneStarted having some backups and called a plumber for our house we moved into 5 months ago. Long story short we got an estimate of 40k to fix the sewer.The Plumber talked to the neighbors as they were outside, and they mentioned that while renovating the house the sewer backed up and flooded the basement. THIS WAS NOT DISCLOSED TO US. It flooded on the flippers who bought it, not the original owners.We also had a home inspection and sewer scope, the inspection said it looked fine and recommended maybe another scope in a few years to check for roots.How screwed am I?
I’m planning to purchase a new house soon. Before I sign the purchase agreement, should I get a real estate agent on board? Will they help with reading over the contract, value, checking the work of the builder, etc? Or would a real estate lawyer make more sense?
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This is meant to be kind of a quick consensus question.. don’t think too deeply about it.I live in a BOOMING suburb of Atlanta about 2 miles from our recently re-energized downtown 3 miles from the massive new work/live/play. There is hardly an ounce of land that isn’t being developed in the city now. My house is quite different from virtually EVERY other house around. It’s in a small neighborhood, with no swim/tennis/HOA. It’s a 4/2 split-level that was built in 1975 and has almost an acre of land. The vast majority of houses were built in 1990 or newer and sit in .3 acre or less. I bought the house for $186k in 2008 and have $155k left on the loan. There hasn’t been a single house built in the last 5 years for less than $400k with a significant portion over $600K. The house across the street(fully updated and up-kept amazingly) sold for $395k a couple months ago. The same house as mine with no upgrades, but kept well sold for $315k a couple months ago. My kitchen and wood floor was somewhat upgraded, but that’s abut it. Most everything else is “starter home” or original decor.While the house isn’t in dis-repair, it would need the following to make it minimally saleable.New roof(age)New driveway(repair) New siding(repair)New covered rear Porch and deck rebuilt from the ground up(repairs)Refinished floors(wear and tear)Re-tile kitchen(repair)50ft of wood fencing(repair)New GuttersOptional Upgrades I can think ofRe-do 2 bathrooms(show/bath, tiling, vanity)Landscaping9 dual pane windowsConvert sliding glass door to french doorsStairway railingThen the usual paint/carpeting etc…With all that being said which scenario do you think would provide the largest net profit?Sell As is with nothing doneDo ONLY the repairsDo repairs and upgradesI’m leaning towards scenario 1 because I don’t think the difference between 1 and 3 is large enough to justify the risk of #3 costing more than I think it would cost.
Hey everyone,I am working on closing my first real estate purchase and it will be in a coop. I received the financial statement from the lawyers and RE Agent. Any specific things I should be looking for in the document?Reviewing the document I see its “profitable” each year, that its collecting enough maintenance to cover the over head with the up keep of the building. Anything else I should be looking for? or that a red flag?
Buyer here. When interviewing a couple realtors, I asked if they had any additional fees aside from the commission.One person says there is a $250 transaction fee (from their brokerage) within their buyers exclusivity agreement.Others we spoke with have “no additional fees”.Just looking for other’s thoughts on passing that fee to the client (buyer). Why some do and some don’t.Thanks!
I and 2 girls I’ll be living with (we’re in college) found the perfect house to rent. It’s a 4 bedroom and we will need to find a fourth roommate. We toured the house and the renter’s are a family and they seem interested in us as tenants. They even said they will hold the house for us to move in in 2 months if we can just put a deposit down.Now they just need us all to fill out applications. Do I tell them we don’t actually have a fourth roommate yet? Or would this scare them away? Our plan as of now is to tell them that we can pay the full deposit and each fill out an application, and we will have a fourth roommate found by the time we actually move in.