My house is not selling

Any ideas why my house is not selling? My house has been on the market for about 65 days now. There has been several showings and all feedback has been great. We have had one low-ball offer that we rejected. Our agent says we are definitely not overpriced. Any ideas what might be going wrong? I should note that the house is 1 year old, 4,100+ sq. ft in a subdivision that is finishing the final phase so I know I am competing with new homes.

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Landlord lied about selling, also asks me to extend my tenancy (which expires in 2 months) – what can I do? (UK)

So, I moved into this studio apartment (UK) earlier this year. My initial 6 month tenancy expires at the end of September. My landlord's agent has asked whether I want to extend or not.

I do, and I certainly don't have the spare cash to move out and pay the initial security deposit and 1st month's rent on another place.

However, the last few weeks, the landlord's agent kept emailing me saying that a valuer was coming round to value the property as the landlord was looking to re-mortgage. No biggie I thought.

This happened four or five times, as the valuer apparently kept cancelling. One day, I happen to be in when said "valuer" arrives. It isn't a valuer at all but an estate agent showing people round.

The guy he's showing today starts asking about whether the amenities come with the flat, and what is it on the market for. Obviously my landlord is selling. I did a bit of digging and found the listing on a local site.

With my lease up in 2 months, no possibility of enough cash to up and move elsewhere, and it seemingly obvious the landlord has been hiding the fact he's selling behind a re-mortgager, what're my options?

TL;DR: Lease up in 2 months. Landlord hid the fact he is selling from me, I just found out, but he has asked me to extend my tenancy. What're my options?

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Architect renovating house to sell for profit. Do I go for a timeless style or do I design something with my own design style to set it apart from everything else on the market? (BE, Europe)

I'm an architect, just bought a house which will be drastically renovated (it's not in good shape, but with tons of potential), located in the center of very popular city. I'm just looking to sell once construction has finished and maximize profits while still delivering something I can be proud of as a designer/architect. Was thinking things over material and color wise and was wondering if I should go with something timeless to appeal to a broader range of buyers or if I should incorporate some of my style as an architect and make it into something a little more special to make it stand apart from everything else. (If I can keep costs relatively the same.)

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How wise would it be to become a processor before becoming a loan officer?

I'm currently a loan servicing representative for a private lender. I'm fairly new to the real estate industry, but I've learned a lot so far and am enjoying it. My goal is loan officer, but I'm not sure if it would be a little too big of a jump to go from my current position straight to LO. I've gotten mixed opinions on this. My manager recommends becoming a processor first to know how to prepare a file correctly and send less junk to processors/underwriters and reduce rejections. However, others have said this is not really necessary, and that you can learn by trial and error.

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Is this normal?

Hey folks we're soon to be first time new home build owners in central NC. We've done all of our selections with the builders designer and signed off on everything. The only problem we come up against is: On our first visit we decided to have a LV 1 Granite as our counter tops choice. We weren't really excited over their selections though, so decided to sleep on it. The next day they have a "new" vendor who has marble as a LV 1 choice, with no price change. Of course we jump on this just by looking at their 3in x 12in sample, which was exactly what we were looking for, but we can't "personally" choose our own slab. Is this something that's normal on a LV 1 upgrade choice or are we being too picky?

Edit: A very reputable builder in central NC.

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Exterior Home Appraisal Questions

Bot asked for Location. Washington State, USA

My wife and I have started a HELOC process of which we have recently had an outside only appraisal done by the bank's 3rd party. Couple of our questions are…

  1. Does basement sq/ft count towards the total size of the home? ~1000 sq/ft main floor, ~1000 sq/ft daylight basement(~900 finished,~100 unfinished).

I assume it does because our county assessor's info includes the space. Even in the appraisal's notes it mentions the "finished" sq/ft of the basement, but says the house is ONLY ~1000 sq/ft. To note our house does look like a single story from the front of the house.

  1. If yes, then why did the comparables they listed only compare to ~1000 sq/ft homes?

  2. Is there a way to contest the appraisal?

We feel the appraisal ripped us off as the comparables are HALF the size of our home and our appraisal is undervalued on our home by a good 50-75k for our market area, which is reducing our potential HELOC limits.

Thanks to anyone who can give us some info and what our potential options are. I will answer questions if I am able without giving out personal info.

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Quicken Loans Property Tax Underestimate –> payment jump?

Hi,

Attorney, here. Have heard from a few clients who financed with Quicken Loans and had their loan payments jump several hundred dollars after first year due to 'unforeseen' increases in their property taxes. Thing is, tax records don't support the increase. Theory is that this could be a gross underestimate of taxes by Quicken to make loan payments seem smaller (aka more/actually affordable) so as to entice signing. Anyone have any thoughts/experience/knowledge of/with the above?

Thanks,

M

Edit to appease the LocationBot: Philadelphia, PA

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TIFU – Under Contract for a Home I Don’t Want – Help!

So… TIFU! I, the over eager first time homebuyer, didn’t check my emotions at the door when looking at a home for sell.

Here is the situation:

We weren’t planning on buying a home for 5 more months, but went to an open house for a home just to get the feel of what it’s like to shop for a home. The home was significantly discounted and the agent said that he could get the sellers to cover our closing costs. Caught up in the moment we made an offer and it got accepted and now we are under contract. This all happen in the space of 8 hours.

After sleeping on it we realized WTF are we doing? There are things we don’t really like about the house! It is literally the first one we saw in real life! The agent said we can get out of the offer and that making the offer was just to “get the ball rolling” so here is how I think I can get out…

The contract says

“Buyer's obligation to purchase the Property is conditioned upon Buyer's Due Diligence…Buyer's Due Diligence shall consist of Buyer's review and approval of the contents of the seller Disclosures…and any other tests, evaluations and verifications of the Property deemed necessary or appropriate by Buyer, such as:… convicted sex offenders residing in proximity to the Property; and any other matters deemed material to Buyer in making a decision to purchase the Property….If Buyer determines, in Buyer's sole discretion, that the results of the Due Diligence are unacceptable, Buyer may either: (i) no later than the Due Diligence Deadline cancel the REPC by providing written notice to Seller, whereupon the Earnest Money Deposit shall be released to Buyer without the requirement of further written authorization from Seller;

We have a baby and there are three registered sex offenders within an 8-minute walk in the neighborhood and seven within a 1 mile radius. The three were convicted of: Use of Interstate Facilities to Transmit Information about a Minor, Sexual Intercourse Without Consent, and Possession of Child Pornography. So, it seems serious.

Another mistake I realized I made was that the seller’s agent is now also my buyer’s agent. So I am hesitant to talk through this with him.

This all happened in Utah.

Can you, the stranger on the internet, point me in the right direction?

TL;DL I’m under contract for a home I don’t want and think I can get out because of close proximity of sex offenders. Can I?

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(Advice) Getting an advance on inheritance to purchase a condo from parent. Should I officially buy at true price (which includes inheritance)?

Hello. This is my first time buying property so I would really appreciate any advice. So, I'm buying a condo worth 34k at 20k, because the parent selling it to be is giving me a 14k advance on my inheritance. With a net take home of $3984/year (not including property tax or repairs) the cap rate is pretty decent, which I was going to leverage toward my student loans. But I'm afraid that if I buy it for 20k and try to sell it in the future, it will be harder to get the true value of 34k+, plus I'll be lowering comps which indirectly affects family that own other condos there. If I officially buy for 34k, with a "balloon payment" owed at a later date, my higher property tax will eat into my cap rate. I am wondering what the most sensible option is. Any advice is much appreciated.

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