/r/RealEstate
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Redditors sharing home ownership knowledge, real estate market knowledge, mortgage/lending and property investment expertise.
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Buying your first house? Choosing a real estate agent? Looking for a Realtor? (DYK Realtors pay annual fees of $600.00 for the distinction of having the trademarked proper noun attached to themselves?) A full time investor? Buying your first duplex? Buying a Short Sale or an REO or Foreclosure? This is the spot for first timers, secondtimers, landlords, rehabbers, flippers, and buy-and-holders.
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/r/RealEstate
Hi. I'm a 50% homeowner (condo) in the state or Florida. I have read and heard about Quit Claim's not being done or filed as clean as they could have been resulting in some future issues. I have even heard the term a "perfectly completed Quit Claim".
I'd like to save some money, download the Quit Claim template and file it myself with the county. Anyone know what a "perfectly completed Quit Claim" looks like and what I can/should consider now before moving forward?
We just had an appraisal done and it came in at 545,000, which was our accepted offer. We also found out during the inspection period that the roof is at the end of its life, and has resulted in a leak that has soaked drywall. Is it wrong to ask for a new roof to move forward? I’m okay dealing with the drywall repair and all the other small annoyances. New roof with solar panel removal will be just shy of 28k. Dry wall remediation and other issues will be around 10-20k. I just want feedback before we send our requests. Thank you in advance!
I started in the last year to diversify my investments by investing in real estate.
M34, I live abroad, I currently have a total assets of about 650k composed of: 207k equity ETFs, 300k real estate (market value), 42k Crypto, 12k gold ETFs, 8k bond ETFs, 25k liquidity, 50k liquidity in my company's coffers, 2-3k other
I purchased in December 2024 - after about a year and a half of research, time and attempts - an apartment in the center of a large Spanish city (Valencia). It was an opportunity, paid € 184,000, two bedrooms and with unique characteristics for the real estate market in the area, for example super bright with as many as 5 balconies.
Well, the goal was to renovate it and rent it out. In a month I renovated it (it needed a refresh, not deep work) arriving at a total investment of €222,000 and I have already rented it for €1,400/month for the next 4 months (my intention is to rent it for short periods like this).
I had it appraised by a real estate agency and they tell me that the market value to sell it is €240-250,000.
Yesterday a friend who works in the real estate market here tells me that he has a foreign investor who is looking for exactly an apartment with these characteristics and has a lot of budget. He gives him a price: €295,000. This one accepts, wants it at all costs and so I have this purchase offer in hand.
Now I have a doubt about what to do.
My goal was to buy an apartment to have an alternative income in a FIRE perspective. I could have about €1,400 per month. Which net of costs and taxes would be €1,050 per month. I live in a rental and I also liked the idea of having my own property where I could eventually go and live if they increase my rent in the future.
Or I could sell for €295,000 to do a "flipping", realizing a capital gain of about €73,000, which net of taxes and costs would be about €55,000 net. However, if I want to reinvest them I would have to start looking for opportunities again and waste more time in a real estate market here in the area that has gone crazy (it took me a year and a half to manage to get an apartment, otherwise the opportunities fly away within 1 hour of publication)
Bought a home last year, was told that there was not disclosure form required because it was an estate sale. Inspector noted some moisture in the basement bathroom. Seller had the plumber “replace the wax ring and snake pipes”. No mention of any previous issues. Basement flooded badly after closing in the same area. After much trial and error figured out that the exterior drain pipes were all collapsed from the underground downspouts. Had to dig up all the pipes and concrete to the street and replace. The basement had to be remediated and carpets, drywall, flooring all removed. Turns out nothing was covered by insurance.
My insurance company told me that there had been a previous claim by the previous owners for water damage in the basement. So this was not unknown. How could they get away with not disclosing this?
I have my first house paid for, livable by July at the latest. I would like to build a portfolio, if you had to start over would you run off a HELOC loan and reinvest or would you save cash and take the good buys as they come?
I have been following my local real estate market very closely since about May of last year.
Inventory was significantly low from 2020-2022 like most other places in the country and I stopped looking.
Started paying attention to the market again in May of last year and every day there were 4-5 existing homes listed every day and homes sitting for several weeks/ months.
Inventory of existing homes started drying up in December BUT some really good deals were posted while I was away for the holidays. We’re talking 30k-40k under what comparable homes were listed at.
Does inventory typically dry up around this time and sellers wait for spring OR “here we go again…….” And people have developed confidence under a new administration?
I usually never click on ads but I was blown away and thought it was a scam. They charge eight dollars per photo that you want to create a video with. I'm just wondering if anyone has experienced working with them or knows a better company that does the same quality that they are claiming they do?
For the Missouri National/ State exam:
What test prep program did you use? Do you feel it was effective to help you pass the test? Anyone use a tutor of some sort?
Ive taken the test 4 times and failed all with at least 5 points below the passing. Im not giving up but not sure what other options there are to help me pass the test before May.
I'm a FTHB and we have been "penciled in" to close next week. We just found out yesterday that the hold up is due to the seller having issues with getting the title, because of his ex wife? I'm honestly confused on the details. But I've been told that the sellers attorney has JUST requested to the court yesterday that the sale on the house still closes, and then the seller and his ex wife can figure out logistics/who gets how much money AFTER closing. This also is complicated because I also just found out yesterday that the seller hasn't been paying his mortgage, and the home is in preforeclosure! We had no idea about any of this prior to offering, or even signing the P&S agreement. Now I'm freaking out because I saw that this home that I'm supposed to close on the 7th, already has a scheduled auction for foreclosure on the 11th! What are the chances the court will figure out their issue/approve the sale to go through before the auction? What else can I do? I do not want to lose this house.
I was about to put down a deposit for an apartment in Maryland, but I just found out that the building has lead pipes. I’ve looked online and seen mixed opinions, would really love anyone’s input! Thanks!
I'll try to keep this short.
I bought my small 3 bed 1 bath house for $69k (nice) back in 2022. 30 year @3.75% which ive only paid the minimumand owe roughly $67k. I am military and will be going overseas for 3 years minimum and not sure if I will even return here. We have done alot to the house such as new roof, pest control and insulation, water filtration on kitchen sink, and a backyard patio and shed. Zillow estimates $97k which I assume doesn't account for home improvements? Should I keep it and rent it out or just sell it? I have someone interest in renting for 850-900/ month and my mortgage is about 500. I don't know what to do.
Hey everyone, Ill keep it short. My dad passed away and im the only person in his will to inherit everything. He got his house from his mom with a QUITCLAIM DEED in illinois and now I need to transfer it to my name. can anyone help me in what I should do? Thanks!
ABOUT A YERAR AGO MY EX GIRLFRIEND AND I PURCHASED A CONDO CASH WIRTH HER MOTHER AND FATHER AS AN AIR BNB INVESTMENT. WE PURCHASED IT THROUGH AN LLC WHCH I AM LISTED NO BUT HER FATHER WAS THE ONKLY TOI MAKE IT THERE TO SIGN SO HE BECAME THE RESIDENT AGENT ON THE PAPER WORK. I HAVE BEEN TRYING TIO FILEA LAWSUIT BUT NEED THE OPERATING AGREEMENT THAT WAS TAKEN FRIOM MY HOUSE WHEN WE BROKE UP, AND HAVE BEEN RUNNING INTO DEAD ENDS TRYING TO GET IT ANY OTHER WAY. I NEED HELP PLEASE ANY INPUT IS APPRECIATED.
I am helping my father in law sell a small piece of unimproved land in Michigan. It’s cheap, the offer is from a neighbor who wants to buy it. We received an offer letter that has a simple Yes/No question about whether oil, gas, and mineral rights are included and it is checked Yes. I’ve never seen it so explicitly stated. In Texas where I live, the sale of mineral rights is handled through an addendum.
Is this a standard question on offer letters in Michigan where the seller has to explicitly say yes or no to mineral rights are included in the sale of property?
The Rate and I have been growing apart emotionally lately. And I married the House. I don't like this extracurricular romantic and financial activity.
House is under contract to sell. I am also under contract for a new purchase contingent on the sale of old house. The way the contracts are written, I close on the purchase 2 days after the sale. Is it possible to close on the purchase the same day as the sale? Why is it 2 days? I’m in a wet funding state if that makes any difference.
On mobile, sorry for formatting. Also this is Illinois.
Partner and I bought a house late last year in cash. We waived inspection contingency because we'd already lost nearly a dozen bids and were living with his parents while house hunting. Sellers disclosure mentioned some minor water in basement during heavy storms but no other issues. Listing stated new roof, kitchen and bathroom remodel in the last 5 years.
Offer was accepted and we requested a day to have an inspector go out just so we could see what we were getting into, we would've been fine with whatever it was since we were told new roof and no structural issues (our 2 big no-no's). Seller refused to allow an inspection and refused to allow us to go in ourselves again before closing. We decided to go ahead with the sale anyway (I know, but whatever).
Now we're dealing with water coming into our living room because the roof is crap, either installed wrong or older than stated. Basement is flooding, not finished so whatever, but it's causing excess humidity. And today we noticed water coming down the exposed chimney in the dining room.
There's no way the previous owners didn't know about these issues as we removed the particle board covering the chimney after moving in to make it look better. Beneath it was black tar paper that we looked up and saw it's used to prevent mold in moist areas. There's also evidence of previous mold cleanup on the chimney and some roof slats in the attic. None of this was disclosed.
What are our options? Do we go after the previous owner, the listing agent, the roofer, or all three?
Thank you in advance for any advice. Please do not berate us for waiving inspection, we learned our lesson.
Our house has been on the market for almost a month and a half. We have had 3 times our relator said we were going to be getting an offer but each time fell through and we haven't received any. Is this typical?
Something I was thinking about, lots of sellers do highest and best with multiple offers.
Let’s say a $400k listed price.
They say highest and best. Which forces you to overbid as you only have “one” chance.
I say $405k, they say no you lost. Then you ignore their no and offer $415k. They still ignore you. Then you say $420k which beats the highest offer.
Would they actually ignore you at this point? Just for the sake you didn’t “follow the rules”?
I mean the money is there.
What's the best way to go about getting a non-lowballed cash offer quickly?
Where to discuss "title" topics?
There's not a flair or tag here, on this sub, for "title".
Recently closed on a property in which I found out from a new neighbor that the property is prone to flooding and has flooded more than once due to flash flood.
The flooding issue was never disclosed on the closing disclosure and having dealt with flooding before; I would have never purchased a property knowing that was an issue ever again.
What are my options at this point?
I just closed on a house today 🎉 and my lovely seller gave me a binder chock full of warranty and owner’s manual information. Basically a new build binder situation. In addition to the physical binder, I would like to have a digital copy.
Does anyone know if Staples, CVS, etc offer a service to scan all the pages in this binder onto a USB drive so I don’t have to?
I wanted to share something that many property owners and real estate investors aren't aware of and would help you keep cash in your business.
A lot of people are still depreciating their buildings over 27.5 or 39 years, but the IRS actually allows certain parts of a property (like flooring, lighting, HVAC, and other components) to be depreciated much faster-in 5, 7, or 15 years.
This process, called cost segregation, has been a game-changer for many property owners because it can lead to huge tax savings and better cash flow. It's IRS-approved, works alongside your CPA, and is especially useful if you've recently purchased, renovated, or built a property.
I've seen cases where owners were able to unlock six-figure tax savings just by reallocating depreciation correctly. Since tax season is approaching, I figured this might help someone here.
Has anyone here ever done a cost segregation study on their properties? If so, what was your experience like? And if not, l'd be happy to share more info or point you in the right direction!
We sold our property as is. House has been closed. Final walkthrough comes by 5pm on Tuesday. We are moving out tomorrow. The contract said “Broom Swept”. I’m just afraid we’re gonna lose out on time to get this hoarder house cleaned out properly.
All the extra furniture and junk will be removed by Monday. Just concerned. Although they, the buyers, are basically renovating everything for a flip.
What’s the worst that can happen?
I don’t understand appraisals and why the mortgage broker or me the buyer can’t come in contact with them.
So truth is I felt I overpaid by a lot on this home…
My original sale price of $380k. Through some inspection, the adjusted sale value became $370k because of issues.
On the appraisal report, it lists the sale price at $380k. Shouldn’t it be $370k?
The final appraisal came in at $380k, my original sale price.
I guess I should be happy? Idk, I wanted it to come in lower so I could negotiate down.
The mortgage brokers bias is that they want it to come at or above because they don’t deal to fall through.
The seller’s bias I assume is the same. So why can only the seller be in contact?
They literally used sales from almost over a year ago, 6 months, etc and literally all on the higher end of the neighborhood. Like really??? Not a single comp on the same street.
My wife and I are approaching an empty nest and considering selling our home in the next three years. We’ve lived here for 18 years, and while it’s been well-maintained, it could use several updates.
The biggest issues:
The furnace and water heater were here when we moved in (still working but old).
Soffit, fascia, and siding all need repair or replacement.
Carpet, paint, drywall repairs, etc.
One bathroom is functional but really needs work.
I can DIY some of it, but I’d rather hire professionals. Altogether, I’m estimating $40K–$50K to get the house to a “new-ish” condition.
My question: Is it worth it?
I know we could just price it lower and let buyers deal with the updates, but I don’t want these issues to scare off otherwise interested buyers. On the other hand, if we do the updates, some things (like the furnace and water heater) might still need replacing in a few years anyway.
For context, we live in a medium-demand area—not skyrocketing prices, but steady turnover due to job movement. In 18 years, we’re the third-longest residents on our block, and every other house except two has sold at least once.
If we do the updates, we’d keep them neutral and in line with mid-century ranch remodel trends—nothing flashy, just clean and modern.
Would the investment be worth it, or should we just sell as-is and adjust the price?
I am located in northern Indiana and closed on my house at the end of July in 2024. In the process of moving in I discovered visually signs of past flooding. There were water lines in the crawlspace and water stains in my mechanical room leading from the crawlspace. Along with a few other minor things, this was not disclosed anywhere to me in the process of getting my home. When I asked the previous homeowners (through our realtors), they denied everything I asked about.
I discovered today that my house has flooded and it is coming from the crawlspace. I did have a home inspection done, but I ended up getting my money back from the inspection.
Would I have a case against the previous homeowners for not disclosing the flooding issues? I have pictures from when I moved it from the water lines and water stains.
I created a subreddit called r/AustinCRE because I couldn't find a similar group. Anyone know of a similar group and/or is this redundant? I don't want to mess with it if it's doubling efforts. I haven't posted anything in there yet, just testing the waters...thinking it could be a good resource for brokers and investors/principals to share deals/knowledge/etc in Austin....thoughts?
Hey y'all! I have been a sole real estate agent for 2 years, beginning my third year in Residential Real Estate. I have not found the best CRM, Marketing Automation, Great customer service, seamless integration with third party apps and ai capabilities.
Please provide your experience with any of the RE Systems: BoldTrail " which is a combination of BoomTown & Kvcore), FollowUp Boss, and GoHighLevel. Thanks in advance.
I need to switch out of Hubspot to utilize a Real Estate based Crm in order to increase closed deals and operate efficiently, so please advise which CRM has worked best for your business. I am adding a seller and buyer agent under me in the next 3 months, and we need the best system to accomplish company goals.
Top 4 priorities
Phenomenal CRM and follow up system
Marketing automations for email, SMS, Marketing templates, scheduled posting, content creation templates and ai
Good Mobile App utilization
Leads nurturing / paid lead integration.
Ps: price isn’t an issue.