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Re: Is this "normal"?
Just a quick update:
The agent faxed me all the info I was requesting 
I guess she knew I wasn't about to drop any money on a place that I didn't know anything about LOL The electrical has just been updated and the only plumbing problems there is on the property (including underground) is that the bathroom sink leak and needs to be replaced. SO I am pretty please with everything.. now DH just has to go look at it LOL
On my 2nd choice property the only thing major that is wrong is that the electrical needs to be updated. Not too much of a big thing, but I am going to gun for my 1st choice property if DH says its a go
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06-07-2005 12:07 PM
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Re: Is this "normal"?
sounds like a plan then. That's great that everything looks ok. Don't forget to send pictures and invites so we can party w/ you on those weekends. 
If you don't want dumb answers, don't ask dumb questions
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Re: Is this "normal"?
If I were you, I'd still invest in a professional inspection. They typically run from $150-$300 (at least here they do) but are WELL WORTH the money. The first house we were going to buy seemed fine and dandy. We had an inspection done and found out the house had over $10,000 in electrical work to be done. Something that the seller or his agent did not tell us (perhaps they didn't know). But it saved us from spending almost $150,000 (plus the $ for the problems) on a house. The second house we were going to buy (the one we live in now), we had the same inspector come out (he's very reputable throughout the state) and he found a couple pipes that were installed UPSIDE DOWN, some flashing missing on our roof, a broken firebox in the furnace and a VERY FULL septic tank. We were able to add ALL of those things (and more that I don't remember) to the closing agreement. The sellers had to fix all of those things in order for us to buy the house or they could choose to take the amount of money that it would cost to do the repairs OFF of the total cost of the house. It worked out well for us. They fixed most of the problems and took money off the house cost for the rest. The biggest thing for us was having the septic pumped. They didn't tell us that it was FULL and had no idea when the last time it had been pumped was. Nasty!
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The $250 we spent on our home inspection was money very well spent. I wouldn't buy a house without one. They go from the roof to the basement or crawl space. There is so much involved with buying a house, so much a buyer could miss. The one we used gave us a detailed book about our home. Peace of mind, and in a nice book. It also helped with the purchase price. You can point to areas that may need to be fixed, and either have the seller fix it, or knock down the price. It's a buyers market these days. You have the power.
Good luck on your purchase!
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Ok I work in the construction industry and let me tell you what set of a warning when you said the "electrical had been updated" - do you know what constitutes updating? Changing a receptacle or light switch is considered Updating. If it was UPGRADED meaning the panel had been changed out to a larger capacity that is a total different ball of wax.
Home inspections are paid for by the seller and are usually written into the offer on the house as a contention point - meaning that items that come up as not to standards on the report can force the seller to fix them or compensate you to repair them yourself. Home inspections cost $ 400.00 and up in our area - the cost varies by area.
If you are going to have a mortgage on the home be aware "roof in good condition" won't pass the mustard with a mortgage company. If it does not have at least a 5 year life it will more than likely have to be redone before closing - paid for at closing by which ever party is negotiated to pay for it.
I personally don't use Realtors since I know the area and go in with a crew of contractors to check out a home and I use a real estate attorney. However, if you don't know anyone in that area you really should get a Realtor - ask around that town and I bet you find one or speak with some you know in your area and I bet they would know a friend of a friend that is a Realtor in that area.
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Maybe it varies by state... but where I live Inspections are definitely NOT paid for by the seller... nor is it written in to any contracts. I know this by fact cause I really threw a fit about it when we bought our home and was told by everyone from every angle (bank, realtor, other ppl who'd bought homes) that it was optional but that we were completely responsible for it.
On another note... why is a post 4 years old bumped up?
Lord, keep your arm around my shoulder and your hand over my mouth.
An 'eye for an eye' leaves the whole world blind. -Mahatma Gandhi
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Originally Posted by
justme23
On another note... why is a post 4 years old bumped up?
I noticed that too.. She probably bought and sold the place by now heheh
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A spammer posted in it earlier and bumped it up.
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My advice is to hire you own home inspector. The realtor is there to show & show the home. Chance are the property owners did not dilviluge anything major that might be wrong hope they can make a sale quickly. If there is anything wrong you can negotiate with them to make the repairs or you can ask for a price reduction & make the repairs yourself.
If they are foreclosures it is VITAL you have the home inspected. b/c foreclosures come AS IT.
You do have to pay for the inspection on your own.
Insanity is hereditary. You get it from your kids.
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Realtors are there to make money (for themselves) and close the sale. Period.
Do we know if she ever bought the place?
Mrs Pepperpot is a lady who always copes with the tricky situations that she finds herself in....
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