Getting Real (Estate) - Page 14

lookout123 · 02-06-2009, 01:38 PM

SM is right. I've bought and sold a number of houses and I can tell you that the seller has to disclose anything that could possibly be wrong with the house just so they can't be sued later if something turns up. I saw that same disclosure for a house in phoenix that had a minor water leak that had been properly taken care of. Get a good inspection and see what it shows.

Radar · 02-06-2009, 04:03 PM

I've scheduled an inspector to come out on Monday. My father and I are going to the house today with some flashlights to look around at possible water damage.

Radar · 02-07-2009, 01:25 AM

Quote:

Originally Posted by glatt

And this is how you find a good inspector. Word of mouth.

Don't use an inspector recommended by either agent. They will tend to recommend inspectors who won't jinx the deal.

I read this a bit too late. My agent scheduled the inspector to go in on Monday. My dad and I went in today and looked very closely at the house and we're pretty sure there's no mold, but an agent will come in on Monday.

When we checked out the house today my agent told me the bank will pay for the termite inspection and any repairs for damage caused by termites, they will install a new water heater, they had already installed a really fancy looking faucet in the kitchen with a detachable part to spray down dishes, they will install a new thermostat and test the heating and cooling. etc.

I felt a lot better.

I want to thank you guys (especially smoothmoniker) for letting me know the mold thing was standard. I was freaking out. I feel a whole lot better now, and I will be buying the house depending on what the inspector says after monday afternoon.

I guess the combination of the bank accepting my offer in a single day combined with the mention of the word "mold" has freaked me out a bit. So has the fact that when I told my boss I was buying a new house, he told me "you might want to hold off on a major purchase like that".

Luckily my old boss is at a new place and he's been begging me to leave this job to work for him. I called him today and said if he can get me the same rate I'm making now, or slightly better, I'll take it. The job is closer to where I currently live, but further away from the house we're buying, and I wouldn't be in management, but as long as I can pay the mortgage payments, etc. I'll be just fine.

classicman · 02-07-2009, 10:58 AM

FWIW - you can still get an independent inspector to take a look at things for you. Just to get a 2nd opinion - can't hurt.
You can also call a mold remediation company to look into that specific issue. Remember they will WANT to find something, as thats what they do for a living and may dig a little deeper than your average inspector. Something to consider perhaps - good luck!

smoothmoniker · 02-07-2009, 02:02 PM

That's true. We had multiple specialists come out to the house, a chimney mason, an electrician, a pool guy. It helped us figure out if we wanted to buy, and also helped us start putting together a budget for repairs that will need to happen in the first few weeks.

Radar · 02-09-2009, 09:09 AM

Thanks for that advice. I'm having a general inspection done today, but I'll probably bring in a pool guy, and perhaps a couple of others come in to check things out. I don't need an electrical guy because my dad is an electrician.

smoothmoniker · 02-09-2009, 12:56 PM

Our inspection was incredibly overwhelming - the house was built in 1934, so everything was in need of repair. At the end of the inspection, I asked the inspector to organize the items into three categories:

1) must be done before move-in, for health and safety reasons
2) should be done within the first year, to avoid future long-term damage
3) would be nice to get to someday, but not urgent.

Once the items were grouped that way, I felt much better about the house, and our ability to actually get the work completed that it needed. It helped us prioritize our reserve cash, and keep from being overwhelmed by the 97 things on the big list. It turned out to be only about 5 things that were urgent and required professional contractors to do, and about 10 things that needed to be done within the first year to avoid future damage, most of which I can do.

Good luck, and keep us updated.

Radar · 02-09-2009, 01:03 PM

Someone ripped out the thermostat, so I bought one over the weekend. I'll hook it up during the inspection today so we can test the air conditioner and heater.

classicman · 02-09-2009, 01:56 PM

All thermostats are not the same - just sayin. Make sure you got one compatible with the system in the house.

Radar · 02-09-2009, 01:58 PM

I won't know if it's compatable until I hook it up. There's nothing on the wall but a bracket and some wires.

I assume the heat is gas and the air conditioner is electric. I got a 24 volt one, which seems to be standard.

classicman · 02-09-2009, 02:31 PM

I'm just trying to help you with my limited experience. I am sure there are others with much more knowledge than I here. When I replaced mine the # of wires that were there, type - either gas, oil or electric and the unit that it was going to were all important.

Radar · 02-09-2009, 04:51 PM

They are labeled with letters. I put the same wires to the same letters and it worked. At least it worked on the air conditioner. The house doesn't have the gas turned on so I can't test the heater. Though since the heater pushes the air through the house, the heater did kick on when I tested the air conditioner with the new thermostat

classicman · 02-09-2009, 09:00 PM

Good - that was fortunate.

Pie · 02-09-2009, 10:16 PM

We got an offer on our townhome on Friday, and today we found out there may be a second offer! Woot!

smoothmoniker · 02-09-2009, 10:46 PM

So, in order for the loan to fund and the mortgage to close, you have to have a termite report, and they have to fix all Level 1 damage. This is all done by the escrow company.

The escrow company has not even sent out the report to the repair company yet, and every termite company in the area has a 2 week backlog before they can come look at the property. We're supposed to close escrow on Friday.

Arrrrgh!

02-06-2009, 01:38 PM	#196
lookout123 changed his status to single Join Date: Apr 2004 Location: Right behind you. No, the other side. Posts: 10,308	SM is right. I've bought and sold a number of houses and I can tell you that the seller has to disclose anything that could possibly be wrong with the house just so they can't be sued later if something turns up. I saw that same disclosure for a house in phoenix that had a minor water leak that had been properly taken care of. Get a good inspection and see what it shows. __________________ Getting knocked down is no sin, it's not getting back up that's the sin

02-06-2009, 04:03 PM	#197
Radar Constitutional Scholar Join Date: Dec 2002 Location: Ocala, FL Posts: 4,006	I've scheduled an inspector to come out on Monday. My father and I are going to the house today with some flashlights to look around at possible water damage. __________________ "I'm completely in favor of the separation of Church and State. My idea is that these two institutions screw us up enough on their own, so both of them together is certain death." - George Carlin

02-07-2009, 10:58 AM	#199
classicman barely disguised asshole, keeper of all that is holy. Join Date: Nov 2007 Posts: 23,401	FWIW - you can still get an independent inspector to take a look at things for you. Just to get a 2nd opinion - can't hurt. You can also call a mold remediation company to look into that specific issue. Remember they will WANT to find something, as thats what they do for a living and may dig a little deeper than your average inspector. Something to consider perhaps - good luck! __________________ "like strapping a pillow on a bull in a china shop" Bullitt

02-07-2009, 02:02 PM	#200
smoothmoniker to live and die in LA Join Date: Feb 2003 Location: Los Angeles Posts: 2,090	That's true. We had multiple specialists come out to the house, a chimney mason, an electrician, a pool guy. It helped us figure out if we wanted to buy, and also helped us start putting together a budget for repairs that will need to happen in the first few weeks. __________________ to live and die in LA

02-09-2009, 09:09 AM	#201
Radar Constitutional Scholar Join Date: Dec 2002 Location: Ocala, FL Posts: 4,006	Thanks for that advice. I'm having a general inspection done today, but I'll probably bring in a pool guy, and perhaps a couple of others come in to check things out. I don't need an electrical guy because my dad is an electrician. __________________ "I'm completely in favor of the separation of Church and State. My idea is that these two institutions screw us up enough on their own, so both of them together is certain death." - George Carlin

02-09-2009, 12:56 PM	#202
smoothmoniker to live and die in LA Join Date: Feb 2003 Location: Los Angeles Posts: 2,090	Our inspection was incredibly overwhelming - the house was built in 1934, so everything was in need of repair. At the end of the inspection, I asked the inspector to organize the items into three categories: 1) must be done before move-in, for health and safety reasons 2) should be done within the first year, to avoid future long-term damage 3) would be nice to get to someday, but not urgent. Once the items were grouped that way, I felt much better about the house, and our ability to actually get the work completed that it needed. It helped us prioritize our reserve cash, and keep from being overwhelmed by the 97 things on the big list. It turned out to be only about 5 things that were urgent and required professional contractors to do, and about 10 things that needed to be done within the first year to avoid future damage, most of which I can do. Good luck, and keep us updated. __________________ to live and die in LA

02-09-2009, 01:03 PM	#203
Radar Constitutional Scholar Join Date: Dec 2002 Location: Ocala, FL Posts: 4,006	Someone ripped out the thermostat, so I bought one over the weekend. I'll hook it up during the inspection today so we can test the air conditioner and heater. __________________ "I'm completely in favor of the separation of Church and State. My idea is that these two institutions screw us up enough on their own, so both of them together is certain death." - George Carlin

02-09-2009, 01:56 PM	#204
classicman barely disguised asshole, keeper of all that is holy. Join Date: Nov 2007 Posts: 23,401	All thermostats are not the same - just sayin. Make sure you got one compatible with the system in the house. __________________ "like strapping a pillow on a bull in a china shop" Bullitt

02-09-2009, 01:58 PM	#205
Radar Constitutional Scholar Join Date: Dec 2002 Location: Ocala, FL Posts: 4,006	I won't know if it's compatable until I hook it up. There's nothing on the wall but a bracket and some wires. I assume the heat is gas and the air conditioner is electric. I got a 24 volt one, which seems to be standard. __________________ "I'm completely in favor of the separation of Church and State. My idea is that these two institutions screw us up enough on their own, so both of them together is certain death." - George Carlin

02-09-2009, 02:31 PM	#206
classicman barely disguised asshole, keeper of all that is holy. Join Date: Nov 2007 Posts: 23,401	I'm just trying to help you with my limited experience. I am sure there are others with much more knowledge than I here. When I replaced mine the # of wires that were there, type - either gas, oil or electric and the unit that it was going to were all important. __________________ "like strapping a pillow on a bull in a china shop" Bullitt

02-09-2009, 04:51 PM	#207
Radar Constitutional Scholar Join Date: Dec 2002 Location: Ocala, FL Posts: 4,006	They are labeled with letters. I put the same wires to the same letters and it worked. At least it worked on the air conditioner. The house doesn't have the gas turned on so I can't test the heater. Though since the heater pushes the air through the house, the heater did kick on when I tested the air conditioner with the new thermostat __________________ "I'm completely in favor of the separation of Church and State. My idea is that these two institutions screw us up enough on their own, so both of them together is certain death." - George Carlin

02-09-2009, 09:00 PM	#208
classicman barely disguised asshole, keeper of all that is holy. Join Date: Nov 2007 Posts: 23,401	Good - that was fortunate. __________________ "like strapping a pillow on a bull in a china shop" Bullitt

02-09-2009, 10:16 PM	#209
Pie Gone and done Join Date: Sep 2001 Posts: 4,808	We got an offer on our townhome on Friday, and today we found out there may be a second offer! Woot! __________________ per·son \ˈpər-sən\ (noun) - an ephemeral collection of small, irrational decisions The fun thing about evolution (and science in general) is that it happens whether you believe in it or not.

02-09-2009, 10:46 PM	#210
smoothmoniker to live and die in LA Join Date: Feb 2003 Location: Los Angeles Posts: 2,090	So, in order for the loan to fund and the mortgage to close, you have to have a termite report, and they have to fix all Level 1 damage. This is all done by the escrow company. The escrow company has not even sent out the report to the repair company yet, and every termite company in the area has a 2 week backlog before they can come look at the property. We're supposed to close escrow on Friday. Arrrrgh! __________________ to live and die in LA

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