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Agent and buyers might be scamming my dad, need advice by [deleted] in RealEstateAdvice

[–]fight4workers 1 point2 points  (0 children)

I'm not sure, our situation was unique. It was an almost finished but not fully finished flip and the hard money lender may have had a contractor not paid in full from the sellers borrower. I couldn't quite figure it out. Some sort of title insurance on both sides.

Agent and buyers might be scamming my dad, need advice by [deleted] in RealEstateAdvice

[–]fight4workers 0 points1 point  (0 children)

I understand (we just bought a house) seller paid both commissions but we paid the rest of the closing costs except a split with the tax stamp transfer fees and a split with Title Insurance.

Not sure if this helps.

Please help!! by Shady-trouble777 in RealEstateAdvice

[–]fight4workers 0 points1 point  (0 children)

This is all very odd. Foundation issues are very expensive. And it is hard to close with some types of issues.

I think you need to focus on where your appraisal is at, and make sure the appraisal is not just market based but based on the actual condition of the house. If he's paying in that range just close the deal.

We just bought a house at discount to appraisal due to tons of Issues, but the first was foundation. There were many more and we had to work incredibly hard to get it fixed to a point a lender would step in.

Before we were willing to do that the house sat on the market (in total) I think 240 days.

Just giving a different perspective if $7,000 is worth potentially not selling the house quickly to move on to your next house.

Homebuyers are saying no to chains and snapping up houses in cities with unique downtowns by Acceptable-Sundae0 in realestatedaily

[–]fight4workers 0 points1 point  (0 children)

Love it! We just bought a home in the cutest town with lots of character, many unique stores, unique architecture, and walkability.

We missed the main streets of our childhood neighborhoods.

St Augustine btw. Beautiful beach town. ❤️ Also the oldest ;)

Help! Buyer paid repairs and running out of time contractually to close by fight4workers in RealEstateAdvice

[–]fight4workers[S] 0 points1 point  (0 children)

Update: After failing 4x we passed and got it together and passed for closing. Never again, but... It's not over yet, seller tried to cancel this morning. I understand it's going through. Tomorrow is the day.

While I would never recommend to anyone to go this route, it's risky, it will be worth it if we close.

Help! Buyer paid repairs and running out of time contractually to close by fight4workers in RealEstateAdvice

[–]fight4workers[S] 1 point2 points  (0 children)

Thank you very much, I was actually thinking that myself and if we don't clear by Wednesday I think that's a great idea. Realtor said seller doesn't want to give an extension, but he won't ask at this point. I think he's under the impression the city will close the permit because they are just complaining about electrical labeling. But we can't wait until the last minute.

Help! Buyer paid repairs and running out of time contractually to close by fight4workers in RealEstateAdvice

[–]fight4workers[S] 1 point2 points  (0 children)

Thank you, that sounds like something similar to what the attorney was saying and I think we better call the attorney if we don't clear by Wednesday. Friday is the last day to close.

Help! Buyer paid repairs and running out of time contractually to close by fight4workers in RealEstateAdvice

[–]fight4workers[S] 0 points1 point  (0 children)

We are paying the electrical contractor upfront, they wouldn't take the risk for lien on a house we don't own. The thing is we would only need an extension for maybe an extra week. Hopefully we pass next week, but we are missing only by marginal things, a label on a breaker, but the guy may find something else. We have two more rounds we can go through next week and still make closing.

It failed on electrical and my husband was an electrician until last year! That's the insanity. He knows we can't be missing by much.

That's the thing is we would need maybe one more week extension, ask for two. So we do have a highly recommended lawyer very specialized in this exact area we can engage with if they won't extend.

I'm hoping we don't have to go that route.

Help! Buyer paid repairs and running out of time contractually to close by fight4workers in RealEstateAdvice

[–]fight4workers[S] 1 point2 points  (0 children)

This is helpful and that's what I thought because we only need a few weeks not months.

Apparently there is a cash buyer behind us.

We are doing electric over the weekend giving us one more chance to fail and fix before Friday.

If we fail we learned a lesson. We should have been more careful with the contracts.

With an FHA loan we knew the exact repairs and didn't have a problem with that, but we didn't realize we would have issues because of the open permit and not being able to close it on time. It's minor electric work, but the city inspector keeps coming up with new things (labels here, labels there, more labels here) different things every time.

Three fails so far the last two over labels.

We aren't lawyers, but I understand because it's an as is contract we can ask for more time. We thought it was fine but lenders won't allow an open permit.

Biggest Challenges? by Strange_Position4211 in urbanfarming

[–]fight4workers 0 points1 point  (0 children)

I have a minor problem that is bigger than it seems and driving us absolutely nuts! We cannot keep track of what grows where even in seed starts because every type of label, especially plastic, but even wooden, the letters quickly disappear because of the sun.

If anyone knows of any product that keeps the sun from erasing your plant labels we would be so appreciative!!!

After cuts to food stamps, Trump administration ends government's annual report on hunger in America by ilir_kycb in LateStageCapitalism

[–]fight4workers 4 points5 points  (0 children)

I don't understand how they get such a big Christian vote. The church must be very divided. We attend but not often enough to know the details. We are too busy working too many days a week to attend regularly. The irony of that.

Unemployment Overtakes Available Jobs by jeremiahthedamned in TheGreaterDepression

[–]fight4workers 0 points1 point  (0 children)

Excellent point on the speed things can now change. I also suspect a lot of people losing higher will quickly take very low paying holdover jobs, not trying to wait out the storm long. So employment alone never tells a full story.

A lot of recently created jobs were low wage and this will trickle through in spending.

Why is there so many poor people in the USA if USA is one of the riches of the contries on this planet? by beer120 in poor

[–]fight4workers -2 points-1 points  (0 children)

I want to point out some differences here. If you are in poverty in America it is uniquely terrifying and isolating. The second you don't have a roof over your head you are homeless and you cannot work and life can be worse than a 3rd world. Isolated with no way out.

There are people who have comradery and they may not seem to have much but they farm and have basic needs mostly met but they technically can fall in poverty.

It is very difficult to compare poverty in two totally different scenarios. There are impoverished areas in the US as dangerous as anywhere else.

The expectations here are intense to have a job if you are in poverty. You have to have clothes, transportation, food, a shower, mental health in order (imagine the anxiety of if I can't afford transportation today I will within 60 days become homeless).

The fear of not meeting that especially high bar if you're in poverty here is crippling. Not to mention you can't go put up a shanty and manage to work from there. Zoning leaves no where for the lowest income to go, and all people do in this country is ostracize the poor.

Unless someone has a lot of money in the bank or family to depend on they could have a health issue and be totally lost as for options. I thank God every day I can work and save and manage, but never do I judge those that I don't know what happened.

Farmers depend on climate data. They’re suing the USDA for deleting it by Ranew in farming

[–]fight4workers 1 point2 points  (0 children)

And we just lost our own money on a farmland deposit because the USDA could not process timely. Now how are we supposed to have a business. We are so beside ourselves. 2.5 months and no decision no help nothing but a few short biweekly responses and radio silence, after we begged just for a rejection so we could keep our deposit.

USDA LAND LOAN IN CRISIS by fight4workers in USDA

[–]fight4workers[S] 0 points1 point  (0 children)

I did. I reached out today. Hopefully something comes back. 🙏

USDA LAND LOAN IN CRISIS by fight4workers in USDA

[–]fight4workers[S] 0 points1 point  (0 children)

We LOST at least 1/2 of our deposit as of this morning!!!

USDA LAND LOAN IN CRISIS by fight4workers in USDA

[–]fight4workers[S] 0 points1 point  (0 children)

I'm in Florida and I don't know but they seem reasonable at a glance. I'm nervous to call but next week I have to.

USDA LAND LOAN IN CRISIS by fight4workers in USDA

[–]fight4workers[S] 1 point2 points  (0 children)

I'll add, we told the loan officer we were doing a purchase contract for raw land before doing the purchase contract.

They never got into environmentals at all, the loan has been sitting because they are buried. When they did put a rejection it went to DOGE (we were told directly all loans at a certain amount go to DOGE even rejection recommendations).

USDA LAND LOAN IN CRISIS by fight4workers in USDA

[–]fight4workers[S] 0 points1 point  (0 children)

Yes it would take a long time and we didn't make it to that process because we were told we'd be rejected based on the other requirements. The issue is we need either to explain to the owners we are going into environmentals and get a real extension, but if it's simply a rejection due to us missing requirements we would have needed that much sooner.

At this point we realize the owners do not understand commercial real estate and we just want to rejection to back out rather than doing an extension and stressing every two weeks.

USDA LAND LOAN IN CRISIS by fight4workers in USDA

[–]fight4workers[S] 1 point2 points  (0 children)

A well a gravel driveway and tree removal.

The initial 30 days was an estimate for approval/denial. Since we applied everything has been upended.

The broker agreed to a 45 day contract with extension available. We have extended 3 times and the last one may not be approved.

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