I see this sometimes where a house during a second transaction is sold significantly lower than a previous sale, is there some trick of back door that ppl are utilizing that I am not aware of, bc im pretty sure they didnt get a deal that was $650,000 less, it was not a down market like 2008, when you see this, what kinds of things can you assume is happening behinds the scenes? what loopholes are being utilized? submitted by /u/mmori7855 [visit reddit] [comments ..read more

I’m in the early stages of talking to a builder in purchasing a home in a new construction neighborhood. The house is about $1.3 million with the house estimated to be built by May/June 2025. I’ll need to sell my current home but planning on making a down payment of about $800k. I’ve never bought a new construction home and so not entirely sure how the process works. I know we will need to make few deposits along the way ($100k or so, which will be applied to towards the house eventually). But the final amount won’t be until closing. Considering that it’ll be a year before we close on the hou ..read more

I have a buyer for our house. They want us to pay for all closing cost. In turn they will pay over asking to make up the difference. As anyone ever heard of this? What if the appraisal comes into play with the added price increase? submitted by /u/ethmooner7 [visit reddit] [comments ..read more

Realtor wants the initial deposit check since yesterday but the sellers signed last night and even today the lawyers don’t know we are under contract yet they don’t even know they accepted our offer does this sound right ? submitted by /u/Rich_Pay_9559 [visit reddit] [comments ..read more

I bought my home in 2020 for $290.5k. I’m currently selling it, and am in a position to make $120k-$140k net profit. I know that if a home is your primary residence (which I’ve lived in this home the whole time) you aren’t taxed up to $250k net profit as a single filer. Problem is, I’ve also been claiming rental income from a room I rent out and have claimed all the expenses that come with up keeping the home (cleanings, repairs, regular upkeep expenses, etc) on my taxes as deductions. Does this make my home sale fall into a rental category (and have subsequent capital gains tax owed) even th ..read more

We put an offer on a house last week that was accepted and the inspection came back saying that the hvac system isn’t heating properly (8 year old heat pump and 20 year old furnace for emergencies). Also the standby generator has some issues with understanding when the house has or doesn’t have electricity. Lastly the radon gas was averaging a 3.0. We’re having a mitigation expert offer an estimate for a radon system but it’s a larger ranch home on a crawl space so we think it’ll be expensive to fix. This is my 2nd home purchase but I’m not an expert in this process. We feel the seller should ..read more

State of MN. Can the Declarant (developer of a land) appoint them-self as the Architectural Review Committee? Declaration states ARC "is hereby created by Declarant" & states "There shall be up to 3 people who serve as member of the ARC. So long as the Declarant owns any unimproved Lot in the Property, Declarant may appoint and remove members of the ARC." But would there be a clear conflict of interest if declarant is the sole member of the ARC? Issues is we want a privacy fence, or any fence (think white picket even), but ARC says chain link fence only. Declarations state no solid fences ..read more

I’m in the process of relocating for a job. My current house is under contract, inspections are done, and it looks like we’re on track to close as planned. I’ve been to showings at about half a dozen houses, and have narrowed my options down to two. Now I’m struggling to make a decision and, at the same time, worried both could go under contract because of lack of inventory in the area. I don’t know whether to choose the cheaper option that’s just okay or the more expensive one that my wife and I love. House 1: This one’s in a well-maintained golf course community. The lot is about 2/3 acre i ..read more

Weird situation. My gram died and left the house to my aunt and my dad. Her 2 kids.when my gram died my aunt and father never transferred the title / deed into their names. Now my father just recently past so now the house is my aunts and me and my 2 brothers. My aunt will not respond to me in order to get the deed or title transferred into her and our names. What should I do ? Any advice? I’m currently living in the property submitted by /u/MushyGushyFleshlight [visit reddit] [comments ..read more

Buying in GA. Nothing wrong with the house or the contract, life just happened and unfortunately I ended up with a medical appt scheduled for closing day that cannot be moved. No other contingencies in place, we are past DD and closing in a little over a week (total time to close is about 18 days). Given the tight timeline, how reasonable is it to ask for a 1-2 day delay? Getting a lot of pushback by our own agent, and were told the sellers had made plans to close on that day. Given the 18 days of time to close, it does not seem that unreasonable of a request. But are are your thoughts? and w ..read more