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Topic: Buying a House
papersmile's photo
Tue 05/25/10 03:29 PM
i'm THIS close to getting my house on the market and making a conditional offer on a home with larger property, larger square footage, nicer backyard, and further north of the city.

i'm going for a second look tomorrow night. what sort of questions should i make sure i ask and/or what things should i be looking for?

i'm just taking my daughter to dance class now and will check back for any suggestions in a couple of hours.

thanks for any advice.

TxsGal3333's photo
Tue 05/25/10 03:44 PM
Look at the ceilings to see if there is any water damage it's a sign that there is roof damage or has been in the past.... find out the last time the roof was replaced, if any foundation work has been done and is it under warranty.......same with air & heat unit's......... but in the end make sure you have someone that inspects homes to check it out as well.....

Ask how much their utility's run it will give you a hint what to look towards.....

Find out where the nearest police station, school, shopping areas ect are...

And ask what kind of neighbors are around......whoa

newarkjw's photo
Tue 05/25/10 03:53 PM
That's pretty exciting. I would look close at the mechanical systems and the roof. If it has a basement check for any signs of seepage. Since you are making an offer on a contigency basis it might be worth having someone inspect it. I hope it works out.....flowerforyou

AndyBgood's photo
Tue 05/25/10 04:17 PM
What work or upgrades have been done recently. Has there been any issues with flooding and ventilation? Any damaged plumbing that had to be repaired the resulted in house flooding? If so was it remediated and the house carry an assurance of being mold free? Does it have a septic system and if so when was the last time it was serviced. This is different because you are in Canada but has the house been treated for termites, carpenter ants?

Also you can pay a service to conduct a full inspection of the house as well. They crawl into the attics and under the houses to look for issues.

If the house needs a lot of work you had better know what you are getting into. There is a big difference between "Turnkey" and "Fixer Upper" and a "Scrape and Go Special." Some people try to pass off the latter two as "turnkey."

ALSO NEVER EVER TRUST A REAL ESTATE AGENT FOR NOTHING! THEY ARE IN IT FOR THE SALE! NOT WHAT YOU WANT! Stick to your guns when it comes to what you want! There is no substitutions for really being happy with what you got!

no photo
Tue 05/25/10 04:23 PM
..

....make sure to find out how old the roof is and how old the central air conditioner is,make sure to check the foundation for cracks ,whether it has a termite inspection or has a pest control contract,look for places where mold may be,.. it would definitely be worth your money to have it inspected by someone reputable and make the contract contingent upon inspection
..look at the slope 0f the land and make sure it slopes away from the house and not towards it..if it has a basement definitely make a visual inspection for cracks and water stains,note the year of the house if it is quite old electrical wiring could be a problem ..look through the internet and see what other things to note when buying a house..nothing like a whole lot of preparation..and of course location is key as far as driving the value up or down
..but anyways those are just a few..if you do find things that need fixed depending on the severity you could use them to drive the price down a little,definitely note the neighborhood,could check out sex offender registries ..maybe drive thru the neighborhood a few times to see whats up....
..good luck .....smokin

Winx's photo
Tue 05/25/10 04:30 PM
How dry is the basement and get it in writing.

horzman's photo
Tue 05/25/10 04:30 PM
Hi, I am in the real estate business, if your house is not on the market yet, I couldn't recommend that you hold off on your offer.

Although the numbers are getting better, but there are lots of houses on the market today, lots of them are foreclosures going for pennies on the dollar.... and not many buyers.
So the chance that your house is going to sell in the next 30-60 days is not as good.
If you put a conditional offer, it still going to cost you because you still have to do inspection, appraisal, maybe even a survey... and that could be close to $1000 depending on the area you're in… and you still need to produce a bank letter of credit.
Years ago my wife talked me into doing what you are about to do, our other house didn’t sell for 2 years.

My sister was trying to do the same thing, I told her not to start looking until she has an offer on her house....it's much easier to buy a house than to sell one.

Good luck.

Winx's photo
Tue 05/25/10 04:31 PM
Also, drive the street when people are off of work. Then you can see who lives there.

papersmile's photo
Tue 05/25/10 05:49 PM
Edited by papersmile on Tue 05/25/10 05:50 PM
i've scoped the area. it seems that it's quite quiet with a lot of old, retired people in the neighbourhood.

the high school is walkable, the elementary requires free bussing. there is definitely a mall within 5 minutes (i couldn't do it elsewise!)

i've been told the roof is 2 years old, as well as the furnace. the pool needs a new liner. there is a LOT of re-decorating to do but i like stuff like that and am in no rush to accomplish it all at once.

i will make note to check the ceilings for water damage although i'm told the current owner is a plumber and has kept up the structure of the house quite well.

a home inspector is a definite and his approval is one of the conditions. i also won't make an offer unless mine is sold (which i imagine it'll go like a hotcake since real estate is still hopping here in the city). the current mortgage will just be portable to the new house and i might just be charged a small fee for doing so.

buttons's photo
Tue 05/25/10 05:59 PM
as a past Realtor myself , my first thing i would do is to check the average time for homes in your area have sold as well. on comparable homes. especially in todays market, if there are multiple offers on the house you want and homes are not selling you may have to offer pretty high for the offer to even be looked at with a condition stipulated of selling your home.

krupa's photo
Tue 05/25/10 06:22 PM
Find out what the property taxes run annually.

More importantly, ask if there is a porn store in walking distance....do it just to see the look of suprize and hear the moment of hesitation from the realtor.


I would also cruise by about 11-12 at night on a friday or saturday. If you got neighborhood teens next door with thier stereos bumping the latest gangsta rap....you may want to know about it before you pay to live next door to them.

Marley's photo
Tue 05/25/10 06:56 PM

i'm THIS close to getting my house on the market and making a conditional offer on a home with larger property, larger square footage, nicer backyard, and further north of the city.

i'm going for a second look tomorrow night. what sort of questions should i make sure i ask and/or what things should i be looking for?

i'm just taking my daughter to dance class now and will check back for any suggestions in a couple of hours.

thanks for any advice.


Don't you like your current digs? Perhaps not? How's the housing market up there? Ask your daughter what she thinks. She has to relocate as well. She will be leaving friends behind. Not trying to discourage you.

no photo
Tue 05/25/10 07:32 PM
You can contact the local police department for calls in the nieghborhood. As far as the inspecter, make sure he/she knows who they are working for! YOU! If the realator gets pushy, about it. They work for you too. Ask questions, if either hesitates, refer to rule #1. You are the boss! If they won't answer, FIRE THEM!

papersmile's photo
Wed 05/26/10 02:44 AM
Edited by papersmile on Wed 05/26/10 02:47 AM


i'm THIS close to getting my house on the market and making a conditional offer on a home with larger property, larger square footage, nicer backyard, and further north of the city.

i'm going for a second look tomorrow night. what sort of questions should i make sure i ask and/or what things should i be looking for?

i'm just taking my daughter to dance class now and will check back for any suggestions in a couple of hours.

thanks for any advice.


Don't you like your current digs? Perhaps not? How's the housing market up there? Ask your daughter what she thinks. She has to relocate as well. She will be leaving friends behind. Not trying to discourage you.


i don't NOT like my house (i'm very fortunate to have a roof over my head, etc.)

however, i never really wanted to purchase it - it was more my ex's choice and since we'd already sold and were anxious to find something, anything, this was an okay choice.

i bought out his share during the divorce and now that we've lived in it awhile, i'd like to start fresh somewhere else. the housing market is way overpriced and i'll make a good profit on this house. however, i'll obviously have to buy high as well, thus part of the reason for moving further north as prices are substantially cheaper.

the area currently is not bad. i'm on a fairly private street. i'd just like for them to have a bedroom each (2 share currently) and give them a backyard big enough to enjoy (although ours is cute, it's not very big and this has a nice-sized inground pool in it, as well as a lot of grass and gardens. my feeling on our current area though is that within the next 10 years, or less, it's going to become very run-down and seedy and i'd like to get out while the value is high(er).

the kids might want to move more than i do. my oldest has just asked that i do it before she starts high school so she at least has a chance to make a friend before doing so. next year is her last year in elementary. the middle one wants to change schools too, but doesn't like to deal with change. the little one was the most upset, but offering her $20 and getting to sleep in my bed for a month fixed that up!


I would also cruise by about 11-12 at night on a friday or saturday. If you got neighborhood teens next door with thier stereos bumping the latest gangsta rap....you may want to know about it before you pay to live next door to them.


that's a good idea; i've only ever gone there in the day time and everyone i see looks old and possibly retired. calling the police department is another thought (do they provide that sort of information?)

yes, property taxes are something i totally meant to ask and it just slipped my mind. i doubt they'll be as much as mine are since i'm in an over-inflated area as it is.

thanks everyone, i appreciate all your ideas. flowerforyou


horzman's photo
Wed 05/26/10 05:04 AM
I think a fresh start is good after divorce... I hope your house sells fast.

make sure you hire a good inspector, and get the seller to buy you a home warranty cost around $400.... they usually collect that at closing.

Best wishes.

papersmile's photo
Wed 05/26/10 03:07 PM
it's not THAT fresh a start (we've been apart a LONG time) laugh

i've never heard of a warranty that you can buy on a resale; i thought they only existed with new home purchases.

horzman's photo
Wed 05/26/10 08:30 PM

it's not THAT fresh a start (we've been apart a LONG time) laugh

i've never heard of a warranty that you can buy on a resale; i thought they only existed with new home purchases.
[/quote

There are lots of companies that offer warranty on resale, usually it's for one year but it gives you a peace of mind.... some companies warranty anything from appliances to pool equipment.
your real estate broker should know this.

I bought a house few years back, a month later the AC broke down, the warranty company replaced... I think premium was about $75... but the replacement cost them over 2k.


Shasta1's photo
Wed 05/26/10 11:26 PM

I think a fresh start is good after divorce... I hope your house sells fast.

make sure you hire a good inspector, and get the seller to buy you a home warranty cost around $400.... they usually collect that at closing.

Best wishes.



And don't use the one the mortgage company/realtor suggests. Find your own through friends. I made the mistake of allowing the realtors office use their own and as time went by (6 mos) he 'skipped over' some interesting things I would have insisted fixed. Flush the toilets, turn on all the water, look under sinks. open windows, doors, check appliances, etc. Look for cracks, shifting, things that don't work too well, figure out why. Just sayin'flowerforyou Maybe you know all this already.

papersmile's photo
Thu 05/27/10 03:26 AM
i don't know a lot of this (thus my reason for asking).

i see the possibilities, i look at the layout, the yard, etc.

i had my brother-in-law come with me, as he's a pool owner, and this had an inground oval. the electrical was apparently illegal and the liner was shot (which the real estate agent told me) and basically said it might just be a fill-in. he suggested i look for a home in better condition and just add a few bucks and put in a pool myself.

there was no leakage, some of the windows didn't open (my own are going to have to replaced soon too anyway), the a/c, furnace, and roof were a couple of years old.

i still loved the layout and the garden. it's very difficult to find property here with 4 bedrooms on the top floor as well as a backyard bigger than a postage stamp.

i just may put in a really low offer and see what happens. however, first i'll get mine on the market and find a buyer then i'll be able to make offers without worrying about getting stuck. hopefully, i'll find something that we all like.


horzman's photo
Thu 05/27/10 04:18 AM
Good luck to you.... you don't have to worry too much about inspection, just find the house you like, neighborhood, yard etc. leave the inspection to professional, a good inspector can find out much more than you can... they have few nice gadgets.

it doesn't matter what, put in the contract for seller to pay for house warranty... he can decline it, but put it in anyway.

an offer in real estate is open, you add anything you want in your offer, heck you can ask for the seller's Ferrari in the offer if he has one, but he has to accept for it to become a contract.
Seller also can decline all or part of your offer, that’s when a good real estate broker comes in play.
Find a good real estate agent and let them guide you through the process.

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