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Sirotan posted:The very first house that I put an offer on, and lost because the sellers went with an all cash offer, is now back on the market a whole 6 months later with all the same details, photos, etc. except they want $2k more than they bought it for any are trying to sell it by owner. Had my heart set on that house and have been bummed this whole time that I never got it. Now I'm not sure if I should feel happy or pissed. If flippers who paid cash are trying to get out for less than transaction costs, you should be very, very happy to not have bought that house.
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Feb 5, 2019 02:48
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Happy. Happy as gently caress. There's a crack in the foundation or the electric is from pre-war Russia or there's a ghost.
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Feb 5, 2019 03:10
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poo poo POST MALONE posted:Happy. Happy as gently caress. Yep. A few months is probably too short for some life event to have forced them to sell, so they probably moved in and discovered some horrible reality of the place they can't live with. You dodged a bullet that just killed someone else. You should feel happy.
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Feb 5, 2019 03:18
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Sellers seem to be willing to have the asbestos professionally removed. Still trying to sell my drat house. Had a second showing from one couple and my agent seemed to think they were going to put in an offer. Not sure what they’re waiting for!!!
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Feb 5, 2019 03:21
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Spring Heeled Jack posted:Sellers seem to be willing to have the asbestos professionally removed. Sounds like a buyer's market.
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Feb 5, 2019 03:44
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therobit posted:If flippers who paid cash are trying to get out for less than transaction costs, you should be very, very happy to not have bought that house. yeah something's hosed there for sure
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Feb 5, 2019 03:55
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Divorce?
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Feb 5, 2019 03:58
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Subjunctive posted:Divorce? Karma. Flippers are lovely people albeit less lovely than slumlords
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Feb 5, 2019 06:03
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I can't imagine it was a flip gone bad. The house was immaculate when I last saw it, the only work it possibly needed was a dishwasher installed and updating the already finished basement. If they found something hosed up wouldn't they need to disclose it? You guys are probably right though, even if I hadn't been pinning for this place it's just too weird. They raised the price on the listing about two hours after it posted, and have an open house scheduled for a month from now. All the decent houses in this market are selling in 2, maybe 3 days and this place went under contract in under a weekend last time around, so waiting a month and explicitly stating in the listing that highest and best offers are due by March 15 seems odd to me.
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Feb 5, 2019 12:25
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Sirotan posted:If they found something hosed up wouldn't they need to disclose it? Hahahaha. Oh, my child...
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Feb 5, 2019 13:13
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B-Nasty posted:Hahahaha. Oh, my child... If you can't see it you can't count on a previous owner to be some house wizard savant. These cases are not easy to win and they will just check don't know on every disclosure which means it is on you to have an expert examine. We only owned the house for 6 months and never lived in it. But I would guess they are lazy flippers that are just counting on the insane housing prices to get them a better then 3% return on cash they have.
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Feb 5, 2019 14:22
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lol the listing on Zillow is now updated to include "WILL NOT LIST WITH REALTOR!**" in the descrip. Edit: My agent says this wouldn't show up in the MLS if its FSBO, wants to know if I want to pursue it. hmmm Sirotan fucked around with this message at 17:01 on Feb 5, 2019 |
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Feb 5, 2019 16:50
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Sirotan posted:lol the listing on Zillow is now updated to include "WILL NOT LIST WITH REALTOR!**" in the descrip. "I barely avoided getting hit by a train, should I jump back in front of it?"
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Feb 5, 2019 17:26
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Jose Valasquez posted:"I barely avoided getting hit by a train, should I jump back in front of it?" I think it's more morbid curiosity at this point. Another friend suggested this is possibly money laundering. I just want to know, and it all pisses me off.
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Feb 5, 2019 17:30
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Sirotan posted:I think it's more morbid curiosity at this point. Another friend suggested this is possibly money laundering. I just want to know, and it all pisses me off. I mean, definitely go see it and talk to the owners. See if you can figure out what's up and just go along for the ride if you can get them talking about their finances/life problems/politics. Intentionally goad them on things like that.
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Feb 5, 2019 18:02
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Sirotan posted:I can't imagine it was a flip gone bad. The house was immaculate when I last saw it, the only work it possibly needed was a dishwasher installed and updating the already finished basement. If they found something hosed up wouldn't they need to disclose it? If you are sure you want it make an offer now. You can have your agent find out why the last sale fell through. There are different types of FSBO, and some of the show up on the MLS, like most flat fee listing services.
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Feb 5, 2019 18:10
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lampey posted:You can have your agent find out why the last sale fell through. It doesn't sound like it fell through. From the phrasing I'm taking away that the new owners have listed it.
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Feb 5, 2019 18:57
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Spring Heeled Jack posted:Sellers seem to be willing to have the asbestos professionally removed. I know the world is way too big for this to be the case, but I checked your history just to make sure you weren't in Dallas. My wife and I were close to offering on a house after a second showing on Sunday but declined because the house had 2 foundation repairs. Now, in that area of town it's not unusual for just about every home to have some history of foundation repairs but we backed out after learning that the repairs were from 7 and 1 year ago, respectively. Interestingly, my take on the house was that it had been fabulously remodeled. Walls were removed and added (with permits), all of the flooring, ceilings, walls, etc, were immaculate. My father in law had exactly the opposite take on the house by looking at things like interior doors, outside fence, soffets and gutters, baseboards, etc, his opinion was that they hadn't remodeled the place at all and he figured it needed $40k more in work. It's partly a generational thing and partly that they always look at brand new houses and we're shopping homes from the goddamn 70s. My wife and I are nuts deep in the process again and it sucks, there's not a single house in the current market that meets all of our checkboxes in the right location. We're looking at either waiting for the market to heat up a bit or buying one of the homes to remodel. Andy Dufresne fucked around with this message at 19:11 on Feb 5, 2019 |
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Feb 5, 2019 19:08
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Andy Dufresne posted:My father in law had exactly the opposite take on the house by looking at things like interior doors, outside fence, soffets and gutters, baseboards, etc, his opinion was that they hadn't remodeled the place at all and he figured it needed $40k more in work. It's partly a generational thing and partly that they always look at brand new houses and we're shopping homes from the goddamn 70s. How is that "generational"? Sounds more like you have a different idea of the extent of what constitutes "remodeling." Depending on what specifically he saw as the issues he just might be a lot better at looking past the "flashy" things and is looking at the stuff a lot of people without building experience miss or don't even know to look for.
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Feb 5, 2019 19:21
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Motronic posted:How is that "generational"? Sounds more like you have a different idea of the extent of what constitutes "remodeling." Depending on what specifically he saw as the issues he just might be a lot better at looking past the "flashy" things and is looking at the stuff a lot of people without building experience miss or don't even know to look for. You're right, it isn't generational at all. He's an electrician who has 40 years of experience wiring new homes and he and his wife have bought their previous 3 homes new (and far out in the burbs). I guess I was only pointing out that there's not a single house in the parts of town we're shopping that will have a new everything. Still, I really appreciated the input he provided.
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Feb 5, 2019 19:24
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Andy Dufresne posted:I guess I was only pointing out that there's not a single house in the parts of town we're shopping that will have a new everything. I'm sure there are, but they are probably outside your price range. Most new construction is built massive, with expensive finishes and has prices to match. That, and they're usually in a HOA, which should make anyone run away.
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Feb 6, 2019 01:16
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If I had an HOA they would be able to tell me not to build a mini ramp that envelopes my entire driveway. I mean, I'm not going to do that ever but I like knowing that I could do it if I wanted to.
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Feb 6, 2019 05:30
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Nearly done with my taxes... you know how the thread has always been saying "don't count on the mortgage interest deduction, there's no guarantee it'll be around forever" That isn't precisely what has happened, but I bet most Americans will no longer be in a position to deduct mortgage interest anyway. Because the standard deduction is now higher, and state/local tax is no longer something you can deduct, so most people who used to be able to itemize simply won't be able to now.
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Feb 6, 2019 06:55
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QuarkJets posted:Nearly done with my taxes... you know how the thread has always been saying "don't count on the mortgage interest deduction, there's no guarantee it'll be around forever" Overall, though, most (90%) will see a tax reduction after all the TCJA changes. However, if you live in a high-tax state, own expensive property, and make good money, oh boy...
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Feb 6, 2019 13:19
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QuarkJets posted:Nearly done with my taxes... you know how the thread has always been saying "don't count on the mortgage interest deduction, there's no guarantee it'll be around forever" You can still deduct state and local taxes up to $10,000
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Feb 6, 2019 13:27
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B-Nasty posted:Overall, though, most (90%) will see a tax reduction after all the TCJA changes. However, if you live in a high-tax state, own expensive property, and make good money, oh boy... Hi, yes, don't doxx me.
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Feb 6, 2019 14:15
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Sirotan posted:lol the listing on Zillow is now updated to include "WILL NOT LIST WITH REALTOR!**" in the descrip. Every MLS feeds their data into an IDX feed that in-turn feeds Realtor.com, as well as pretty much every real estate brokerage's website.
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Feb 6, 2019 20:02
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EAT FASTER!!!!!! posted:Hi, yes, don't doxx me. Counterpoint: Interestingly enough, the change to AMT calculations can make this a wash. Counter-Counterpoint: If you make enough that your income exceeds the AMT calculation then this is moot.
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Feb 7, 2019 02:02
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balancedbias posted:Counterpoint: Interestingly enough, the change to AMT calculations can make this a wash. At the end is 2017 I stupidly paid my 2018 tax bill early since I’m way over the new $10k limit. Turns out trying to deduct $34k+ in SALT while single with no dependents put me in AMT and ate most of my refund. For reference: ~$13k in property tax ~$8k in state and city income
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Feb 7, 2019 03:49
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bird with big dick posted:Wells Fargo does not own my loan and I actually got a letter saying "Why the gently caress haven't you paid your property taxes yet" last year and I ignored it and it seems to have gone away but tbh I don't pay that much attention to my snail mail so maybe I'm about to get foreclosed upon. Lol 2 days after I posted this I got a letter for THIS year's saying I'm 200 dollars short and I need to pay it by June 1st or something or they'll put a lien on my house. At least I think it's from this years and not last years, I didn't look that close at it. I want to name and shame my mortgage company but I can't even remember who they are right now. Also my payment went up a full $100+ a month due to escrow insufficiencies. e: It's Arvest Central Mortgage
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Feb 7, 2019 03:58
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Jealous Cow posted:At the end is 2017 I stupidly paid my 2018 tax bill early since I’m way over the new $10k limit. SALT cap sucks rear end but the personal exemption elimination is the biggest dick kicker IMO. Depends where you live though of course.
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Feb 7, 2019 03:59
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B-Nasty posted:However, if you live in a high-tax state, own expensive property, and make good money, oh boy... Unless you got kids. GEOTUS looked at those poor benighted 400k/yr earners and said "These unfortunate souls haven't been benefiting from the child tax credit" and thus the phase out was changed for MFJ from 110k to 400k. If you had a household of 250k and three kids you went from 0 child tax credit to $6,000 child tax credit which makes up for a lot o SALT.
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Feb 7, 2019 04:05
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bird with big dick posted:If you had a household of 250k and three kids you went from 0 child tax credit to $6,000 child tax credit which makes up for a lot o SALT. One of the reasons I was happy my son was born near the end of last year. I mean, having a healthy child born on January 1st is still a blessing, but losing $2000 for being born a few hours later would be a kick in the rear end.
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Feb 7, 2019 05:42
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Anyone here have experience seeking out a mortgage...while recently self-employed? I moved to Seattle area five years ago for a startup that imploded last year and I started a consulting company with some former colleagues. I was dumb and did not buy before the insane boom. My apartment reminded me today that need 60-day notice, I’m basically old and decrepit now (30) and probably need to figure out what the gently caress I’m doing next. Month to month is horribly expensive (and I’m not signing up to complete this entire process in 60 days) but I also don’t want to sign up for another year. Toying with starting to look at condos and townhomes but before that is finding someone who’ll loan me money. Parents have zero issue co-signing, but my company is so new that I don’t have a K-1 yet and from what I’ve read co-signing has its own pitfalls...
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Feb 7, 2019 09:11
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movax posted:Anyone here have experience seeking out a mortgage...while recently self-employed? If you have less than 12 months of self-employment history, you are unlikely to be able to find a lender who will provide a conforming mortgage. I would stick to lenders who clearly will advertise/offer non-conforming or portfolio loans. Self-employment continuance/seasoning rules tend to be pretty similar across the board. A large caveat to this is that if your K-1 will show that you have less than 25% of ownership in the company, you will not be considered self-employed. In that scenario, you will be able to find conforming mortgages using your w2 income (potentially)
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Feb 7, 2019 15:09
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If you go get a wage job you can use that income to qualify. Otherwise you won't qualify until you have filed a tax return for the business covering 12 months of business activity.
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Feb 7, 2019 15:39
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gtkor posted:If you have less than 12 months of self-employment history, you are unlikely to be able to find a lender who will provide a conforming mortgage. I would stick to lenders who clearly will advertise/offer non-conforming or portfolio loans. Self-employment continuance/seasoning rules tend to be pretty similar across the board. It'll be 12 months next month; last year I had 2 months of W-2 income where the last check included a bonus + PTO payout. For my company, I'm a 10% owner but we've been doing guaranteed payments in lieu of issuing ourselves W-2 wages / etc. Likely to change this year though. I have significant savings and brokerage amounts (which is how I qualified for my current lease with $0 income) but that really doesn't help me out besides being able to execute on the down payment.
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Feb 7, 2019 19:25
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Based on the information provided, you likely will be looking at non-conforming/portfolio loans. The guaranteed payments changing but not currently being w-2 earnings puts you in a grey area that doesn't really work for you in either scenario unfortunately. Having bonus be part of your payout (with less than 12 month history of receipt) makes that route tougher as well. Conforming guidelines are going to go off of the business start date based on the tax returns.
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Feb 7, 2019 19:39
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gtkor posted:Based on the information provided, you likely will be looking at non-conforming/portfolio loans. Got it; this is at least a place to start, thanks! For co-signing, what are the general detriments to that in terms of interest rate? I have heard that co-signing generally results in a higher interest rate but I couldn't find data / research / etc to back that up. I will be the one making all the payments / have budgeted for it, but can lean on my parents' financial stability to back me up. (My Plan B is to go take one of several standing opportunities and become techie scum which will cover me financially).
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Feb 7, 2019 19:55
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movax posted:Got it; this is at least a place to start, thanks! If your parent's are going to be co-signing they will be considered Non-occupying Co-clients. The days of you getting worse pricing/Interest rates for this are pretty much over. If you are willing to put 20% or more down, you may be able to obtain the loan solely using their income (assuming the Debt to Income qualifies with your debts factored in, plus their debts including housing expenses). Also worth adding as a PS on this, this will allow you to qualify for conforming loans as well, which generally come at better interest rates than the non-comforming/portfolio loans I was talking about in prior posts. gtkor fucked around with this message at 20:11 on Feb 7, 2019 |
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Feb 7, 2019 20:08
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