When Comparing 2 Lenders, should I just accept one or should they fight for the lowest rates?

Hi Reddit,

I'm comparing two lenders right now and one lender gave me their rates and the other lender is going to give me a rate (which is definitely going to be lower than the one lender). I'm just wondering if I should decide based on this or should I tell the original lender the offer from the 2nd lender??

I just don't want to run them in circles but at the same time I do want to get a good deal, is there an acceptable number of times I should compare their rates and tell them? Or is there some other accepted practice in this situation.


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(MN) – Looking for advice on what to offer on a cosmetic fixer upper w/ unfinished basement in this market

Hey everyone I recently just started looking at homes and found what I think is a great starter and investment home that I can fix up along the way. For those that are in MN this is in the Northwestern suburbs area of Brooklyn Park / New Hope / Crystal / Maple Grove… 1,000 square feet upstairs with a completely open unfinished basement ready for improvement. Upstairs is nicely done and the listing price is $180,000. Kitchen will need some cabinetry work and new appliances to get to the next level and I would want to get it into the 230K range. Selling agent says there are multiple offers and my agent thinks it will go above asking. I've done some research on costs and plan to do as much work myself as I can as I'm handy but also have access too people who can plumb and wire. I think I want to put an offer in for 190K but would love to hear other peoples thoughts. Thanks!

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Best ROI for these renovations/improvements

Wondering if anyone has metrics/experience on the ROI for these things (central North Carolina if that matters)

  • replacing gravel driveway and parking pad with paved cement driveway (50 yards long approx)
  • replace 2 old HVAC units
  • replace deck (boards starting to splinter a lot, but is still functional and used every day)

We may be considering selling if the potential value is high enough, but these 3 things are definitely on the to-do list anyway if we stay. I figure if we do try to sell, then these things may improve the price by getting more than $1 back for every dollar spent…maybe?

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Does anyone have experience with CalVet home loans? (Not VA, Calvet Specifically) (California)

CalVet is different than a VA home loan. There seems to be some advantages and some disadvantages. Being that this is my first home I am struggling to see what the disadvantages are when I compare a CalVet vs a VA loan. Can someone tell me why they prefer one over the other? Thanks.

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Land survey

Thank you for the tip about not splitting the cost with a neighbpr for a land survey
I am in Marrietta, Georgia. East Cobb County. My next door neighbor wants to see my land survey. I don't have one, I thought the GIS was sufficient and accurate but apparently it isn't either. Shouldn't my neighbor hire a surveyor if she wants to know the boundaries? Why would she be asking for mine?

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When will cap rates rise?

Cap rates are getting very close to current interest rates in multi family properties, and I’ve even seen incidencies of cap rates lower than the interest rate.

Why are people still buying in the face of that headwind? Do they really think they can create that much of a value add?

Furthermore, if the rates do get inverted, what kind of opportunities does that create?

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Buying a House with Vermiculite in the Attic. Can I renegotiate Closing Cost/Terms?

My wife and I are buying a house in Southern Michigan.
My wife and I are buying an old fixer upper in a town we really like. It's a beautiful Brick House built around 1880. Structural it is sound and the inspection came back pretty good, or at least what we expected.

However, there is Vermiculite in the attic, which has a 70% chance of containing Asbestos. Really, professionals just assume that all Vermiculite contains Asbestos. Even though it is in the attic (which is considered OKAY), for peace of mind, and because our house will need a new roof in 3 years or so, we want the Asbestos gone. Asbestos Abatement for this situation could cost 2000, to 4,000.

Our original closing cost is 33,900. What I want to know is, is it reasonable/fair/legal, to renegotiate the closing cost to cover the abatement? Is that something we can ask for? I wanted to get your opinion before bringing this to my real estate agent.

Thanks for any insight.

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Foreign Real estate investment – looking some pointer

Anyone has experience in purchasing and investing in real estate market in foreign country? SE Asia to be specific. I really do appreciate some pointers to get me started.

I do have some capital that I plan to invest in real estate, and the real estate scene in SE Asia is booming very fast at the moment, especially in rental market. And with the current capital comparing with the real estate price over there, I can acquire more properties in SE Asia while the average rent is about the same, if not more, comparing to US rent.

On of the plan I have is to open a Corp over here and acquire properties under the Corp name, as foreign entity.

Note: I’m originally from SE Asia so I do have a lot of interest in its real estate market and I will have a lot of help over to manage the properties.

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Power cables near new property

Looking for some advice.

I'm a first time buyer in the UK and I've had one issue raised from a survey carried out on the property I'm proceeding with that has given me cause for concern. The survey has come back that there are power cables nearby and that this could be a health concern.

I've now gone down the rabbit hole with this, with highly regarded research pieces saying it's fine but forums saying we may as well be moving into Chernobyl. While my health fears have been mitigated by reading well sourced research, my fear is that we could face issues selling further down line.

I've spent the afternoon looking at house sales in the area over the last six years and houses in the surrounding area are still selling (on an average of 120 days from listing), but I'm still concerned. It's an absolutely beautiful four bed house so I'd be gutted to lose it, but I just want to be sure I'm doing the right thing.

Anyone have any experience of anything like this? Am I over-thinking or suitably cautious? Any advice is greatly appreciated.

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