Newsflash: Is A Real Estate Agent Who Withheld Information Liable?

During a dispute over the return of the earnest money we learned that our real estate agent withheld information from us that would have allowed us to close on a property instead of canceling the contract due to the sellers being unable to fulfill their contractual obligations. The issues that were of concern, that were to our knowledge not addressed by the sellers before the closing, caused us to cancel the contract. We were informed by the sellers attorney that they had in fact offered three different solutions to the issues to our agent. Our agent did not notify us of the sellers solution offers.

Read more at https://www.reddit.com/r/RealEstate/comments/a5vv2o/is_a_real_estate_agent_who_withheld_information/?utm_source=ifttt

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Newsflash: title tax accounts. buying land my father hasn’t paid taxes on.

hi r/RealEstateproperty my father owns in western mass was placed on the town’s tax title account for unpaid property taxes when i was a child. i’m now no longer a child, have money, and would like to buy the land. i’ve been in contact with the town clerk and the treasurer. can i purchase this land by paying off the account? how can i have the title transferred to my name?does anybody have any experience with title taxes?

Read more at https://www.reddit.com/r/RealEstate/comments/a5v23p/title_tax_accounts_buying_land_my_father_hasnt/?utm_source=ifttt

Newsflash: Can a realtor share my info if they’re not my realtor?

Hi everyone! I’m having trouble finding answers to this question, and I am not sure I want to bring it to my realtor yet. Here’s my predicament:I have a narcissistic family member who is aware that I am contracted to buy a new home. I have not told her about the home. I told another family member about this and that is likely how she found out. She started to badger another family member about the new house asking for details about the home and this person had no information to give. She then says, that she will look up my new house. It then occurred to me that she has a friend who is a realtor. Can this realtor friend give my family member information about my home, address, purchase price etc without my permission?To be clear, I’m not certain that she has done anything (which is why I don’t want to involve my realtor yet). Also, I’m not keeping the fact that we would like to move a secret. I’m more alarmed that this family member won’t simply just ask me. But at the same time I want to be aware of my rights and if they have potential to be violated. I am in PA USA. Thanks for reading!

Read more at https://www.reddit.com/r/RealEstate/comments/a5uqa5/can_a_realtor_share_my_info_if_theyre_not_my/?utm_source=ifttt

Newsflash: Offering Rent in Advance?

So I’m currently an unemployed student, but I have quite a bit of savings. My partner is working full time, but as a casual, so naturally on paper we aren’t appealing.In order to get chosen, we’ve been considering offering all 12 months rent in advance, because it shouldn’t matter on our employment then, they know they have their money.That’s what we figured. What are your thoughts on how to get chosen?​Our current landlord is planning to sell and we don’t want to get stuck at the last minute with no re-leasing with new owners and I start Uni.

Read more at https://www.reddit.com/r/RealEstate/comments/a5uqby/offering_rent_in_advance/?utm_source=ifttt

Newsflash: Buyer orders appraisal a week after due diligence ended….

My wife and I are in the process of selling our townhouse, and have been through the due diligence period made the requested repairs and thought we were in the clear. Our agent advised us in the beginning that the buyer was not going to order an appraisal due to the high down payment, her words were almost a “cash offer”. Due diligence (North Carolina) ended 12/5, and we were advised last night by our agent that he is ordering an appraisal and we need to set up an appointment immediately. The current closing date is set for 1/15. This has us in panic mode because we close on our new home a week from today.​The list price was $159,900, and sold at $157,000 0 in closing with comparable homes around the 155k range give or take. If the appraisal comes back low. Does the buyer still have a leg to stand on as far as negotiating? I am assuming if they walked at this point they would lose everything?I know some of you will say ask your agent, but a caveat to that is she is a family member and acting as a dual agent.(Will never do business with family again).Any friendly advise would be greatly appreciated.

Read more at https://www.reddit.com/r/RealEstate/comments/a5uh8o/buyer_orders_appraisal_a_week_after_due_diligence/?utm_source=ifttt

Newsflash: How do you make money from real estate?

I’m 15 years old, and my brother who is 24, moved to NY a week ago to do real estate. My uncle does real estate and he’ll mentor him. I’m interested in real estate and am considering it as a future career choice of mine. But I have no clue how it works, how people find properties, how you make money, or any of that stuff. I would ask my brother, but I just want him to adjust first. So would anyone explain? It would be much appreciated. Thanks!

Read more at https://www.reddit.com/r/RealEstate/comments/a5uhlh/how_do_you_make_money_from_real_estate/?utm_source=ifttt

Newsflash: Things to look out for in final walk-through of a new construction?

Having a final walk-through of a new construction townhouse condo very soon. We did a pre-drywall walk-through to understand what is happening behind the walls. At that time, we only asked about measurements of spaces to understand what appliances to get.We want to make sure we are prepared for this final walk-through with bullet points to look for, and not let our excitement cloud our thinking. Is there a standard set of things to check?

Read more at https://www.reddit.com/r/RealEstate/comments/a5u6d9/things_to_look_out_for_in_final_walkthrough_of_a/?utm_source=ifttt

Newsflash: Rate Lock Ending

Has anyone swapped lenders and let their rate lock expire?I know I will owe things like appraisal. But will I have to pay any of the origination/rate lock fees?Long story short: buying a house (supposed to close today) and the seller has a ton of previously paid off mortgages that had not been satisfied. Three still lack mortgage satisfactions and it is HIGHLY doubtful that will happen before my rate lock expires next week. So I was looking at rates for other lenders- and the rates are just as good right now with much less origination fees because I would not have to do a longer rate lock (we did a 60 day lock because we have had such a long time between contract on the house and closing). Our contract has a ‘close by the 14th’ term- so we can most likely negotiate the ~3-4 weeks it will take to go through underwriting on a new loan application.Current lender says they will charge ~65/day to ‘extend’ our rate lock. And who knows how long this will take. Maybe 10 days, maybe 15 days, hopefully not too much longer if we stay the course.TL;DR has anyone applied for a new loan and let their current rate lock expire?​

Read more at https://www.reddit.com/r/RealEstate/comments/a5u21q/rate_lock_ending/?utm_source=ifttt

Newsflash: We inherited land+a mobile home. The mobile home title is nowhere to be found and neither is a vin.

I should start this off by saying we live in Arizona.The data plate that lists the manufacturer, year, and VIN number has been removed. I removed siding to try to find a VIN number on the tow bar, and searched the entire inside of the mobile home.​Someone made us a cash offer for the 2 lots plus the mobile home and we would really like to just get some cash for it and be done with it.​What can we do if there is no title or VIN number, but we own the land that the trailer is sitting on? The trailer was made roughly in the 70s we believe.​I’ve heard suggestions of telling the buyer that he is buying vacant land and anything on it is free, but from what I’ve seen that still requires a title transfer. This has become a very stressful experience for us and we are tending to avoid the situation because we are both in our early 20s and never wanted to be in this position in the first place. I really appreciate anybodys help.

Read more at https://www.reddit.com/r/RealEstate/comments/a5tt9g/we_inherited_landa_mobile_home_the_mobile_home/?utm_source=ifttt

Newsflash: Floor shakes when heating is turned on

I went to look at a smaller rowhome house yesterday and I really like the place. It was updated in 2014 and looks like it was a full renovation which they did a good job with. The house was built in 1925.While I was sitting on a chair in the living room talking to my agent I decided to turn on the heat in the house (forced air). As the furnace was doing it’s thing, I could feel the floor vibrating from where I was sitting (middle of the room). My agent was on a couch towards the front of the house and she did not feel it over there, but definitely felt it when she sat in my chair.The furnace sits pretty much below the living room close to where I was sitting, but I’ve never felt the floor shake when the heating kicks on. I’m not going to let that detail put me off of making an offer, but I’m wondering what this might be a sign of in the house and what kinds of fix can be made to prevent the shaking. It definitely bugged me when I was sitting down.

Read more at https://www.reddit.com/r/RealEstate/comments/a5tooe/floor_shakes_when_heating_is_turned_on/?utm_source=ifttt