Book Recommendations

Does anyone know of any book in particular that helped them when learning about real estate? Any good audiobooks I could listen too while commuting? Any level advanced or basic just want something to listen to or read.

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Backing out/legal advice

I'd made an offer on a property after receiving the report from the seller marking what they had knowledge of in terms of defects and after sending my agent to inspect the building and take pictures. After the offer was accepted I sent an inspector. The inspector turned up a number of things like mold, possible asbestos, possible leaky roof, gas leaks, etc. Things which would have been pretty obvious to any seller. I responded to the seller with conditions to repair most of the things the agent found and the seller agreed, but in the meantime I'd gotten a bad feeling and decided to back off. Now, the seller is refusing to sign a mutual cancellation.

Where do I go from here? My agent is saying I should seek legal advice or just go ahead with the sale, but I don't want to get stuck with a house and the seller must have been lying on their initial disclosure.

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VA appraisal ridiculously low, what’s my next step?

House from hell strikes again. Closing was in 6 days not so much anymore. The VA appraisal came back way late and at $109K (purchase price is $137K). I only know of 1 house in my zip code that has sold for so little (a foreclosure) including the houses that are completely gutted after being flooded during Harvey. Honestly I’m wondering if the guy ever even looked at the house.

My realtor and lender are both new to the VA loan process. I know an appeal is possible, but is it possible to find out what comps the appraiser used?

I was prepared to walk away if the appraisal came back low, but this pissed me off and now I’m just angry. Is it worth the fight?

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Agent wants the closing of a deal to be contingent on the Sellers closing of a property the day after the deal?

They say it is just so the Sellers don't end up homeless but it makes no sense.. We are set to close on _ day contingent on the sale of their house the day after….. it should be contingent on them signing their closing disclosure/ their wire/ Getting the clear to close etc.. the other agent said they will remove the contingency on the day of closing but I don't like it. Thoughts? Location is Oregon.

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(CA) I wan to build a guest house, but my neighbors oppose it. Now we are going to a hearing. I would like some advice on what to do next.

I live in California, and I want to build a guest house in my backyard for my mother to live. I rent out a room for AirBnB, and I just found out my neighbor does not like it. They oppose the construction because of my AirBnB. They did not say anything to me before till now. I only found out because they send email to city hall stating my AirBnB as a reason they do not want the guest house build for fear of me renting that out as well. Another neighbor does not want me to build it because she thinks it could lower the value of her home.

I plan on talking to me neighbor and telling them I would stop the AirBnB if they would allow me to build my guest house. I am not sure how to approach the neighbor who said my guest house would lower their house value.

I would like some advice on what I should do next. What happens if I cannot convince my neighbors to allow me to build the guest house, and we proceed to the hearing? What are my chances of getting my house build despite the neighbors concern?

Thanks in advance for any advice.

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(VA) Conflicting information on what happens to the state tax lien if the bank forecloses on a home.

I had a failing business and tried to save it for a couple of years. I had been delinquent in remitting the sales tax I was collecting. I now have a state tax lien on my home for around $50k

There is no equity on my home and the bank gave me a foreclosure date. As far as I understand, in order for the bank to foreclose on my home, they have to pay my tax lien And the lien will be satisfied. The bank can then come after me for the deficiency.

However, I've heard some short sale specialists that I talked to say that is not true, but another said the opposite. They said that if my home goes into foreclosure and there is not enough equity the tax liens will be removed and transfer to me personally.

Please help!

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Was lied to by landlords, what can I do?

I've made a post here before asking what I should do about this problem but what it comes down to is I was promised a terrifically convienient parking spot for free when it's usually a paid spot and then I was told after signing my lease that it was taken and that I could park in a horrendous spot several blocks away. I haven't lived here long and haven't even paid rent yet so my question is what can I do to move out and pay them as little as possible? Can I take them to court by myself? I'm goning to ask them what they could do for me since I wanna break my lease and have been living here for such a short time but if they continue to be difficult and try to stick a bunch of fees on me I wanna know what I can do. Thanks!

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(US, LA) House or Multi-unit?

Hey /r/RealEstate,

For several years now I've wanted to move to one of the bigger cities here in Louisiana. I've got friends who live there (from when I was in school), and the lifestyle and activities there suit me a lot better than where I live in rural louisiana.

I'm finally in a position where I can actually afford to purchase a property and I'm trying to figure out what the right plan of attack is.

Originally, I thought it was a no-brainer to get a multi-unit place. I found out there are several locations, most of them four-plexes, that are under $200,000, a few of them are closer to $100,000 which is a very tempting price from the outside.

It seems efficient to be able to rent out spaces while I occupy one or am working on the units that need TLC, I'd have that bit of income to help offset the cost of payments and any upgrades that do need to be made.

But, as I was looking into this it occurred to me that a lot of these places are already rented out to tennants and that started to give me cold feet. One place is up front about the fact that its cost is low because it needs a new roof, but besides that there's something generally fishy about purchasing a property that is actively leased out to tennants. I assume that's a thing that happens all the time, but I don't really have any perspective on what sorts of responsiblities and costs I might have to take on as a result of that? Is fixing the plumbing in one of the units too expensive for the current landlord to front, is something like that going on?

Alternatively, houses that I could try to rent out bedrooms in start closer to $150,000 and quickly go up. If I were to eventually rent the property, it seems like renting one house would generate a lot less income than renting out a four units each close to about half the typical rent for a ~3 bedroom house.

For whatever it's worth, I think I have a romanticized idea of "fixing up" something like one of these multi-unit places and either living in one of the units and managing the property into retirement, or moving on to something else (or more properties) and sitting on passive income. So a reality check is welcome, too.

Before I even look at these places (some of which are hard to view if they're are already occupied), I figured it would be smart to get advice on whether or not random strangers think I'm going down a silly path. (I'll also be discussing with property owners I'm close to and my family and whatnot!)

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Bought a house, prior owners failed to disclose multiple issues. Do I have any type of recourse? [PA]

(Cross-posted from r/legaladvice)

I bought a house around Christmas last year, and since then I've uncovered multiple problems that were not disclosed by the sellers. The detached garage and basement flood every time it rains, I found about 20 tons of construction waste and garbage buried in the back yard, and the recent kitchen addition was not built on a level foundation. I had a home inspection, but the inspector was not able to catch the foundation or garage issue because the crawlspace and garage were full of junk so he did not have access. We did not notice any signs of flooding in the basement, because the sellers had just very recently re-painted the entire thing. None of these issues were disclosed by the seller, and they are all blatantly obvious if you've spent more than a week there. There's several other problems as well, too many to mention.

I've been fixing most of the issues on my own, but the major problem is the foundation not being level. The prior owners added a kitchen addition to the rear of the home. When they laid the block foundation for it, they never got it level – it was way off. They tried to fix the issue by just slapping on extra mortar, but still never got it level and just built the addition anyway. Now the entire house slopes towards the faulty foundation and I've been told it will cost about $20K to fix (I bought the house for $50K). Support beams need to be installed, the whole house needs to be lifted, and the faulty foundation completely torn out and replaced. It's not anything urgent, but it will eventually need done and it is a huge inconvenience to live with daily.

I know it's my own stupid fault for buying the place without more thorough due diligence, but do I have any type of recourse here? I spoke with an attorney friend that said I could probably sue for damages on the basis of failure to disclose. However, because the issues are relatively obvious, he's not sure if the fact that since I bought the house anyway that may have forfeited that option. Any thoughts or suggestions you all have would be greatly appreciated. Thanks in advance!

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Unique Situation, Please Advise.

First time home buyers. Unmarried currently, but both with excellent credit – 780+ .Presently in Ohio. Large amount of savings.

My girlfriend and I are recently unemployed, but very employable people. We are looking at moving elsewhere and purchasing a home, if not starting a business as well. We have been interested in some specific areas, but notably Boise, ID for the type of business we're interested in as well as proximity to nature.

Our question is being first time home buyers with ampe money to put down, how necessary is it to line up jobs before trying to get a loan?

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