Posted: 2/24/2009 10:43:41 PM EDT
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My wife, father-in-law, and myself all headed out to the house near Monroe we're hoping to buy. Walked through it with the home inspector (who was on our dime, so he was on our side - I was very impressed with how thorough he was).
As soon as he poked his head up into the attic we knew we had a problem... The entire plywood sheeting layer of the roof was sopping wet. The place needs a whole new roof pronto. That, and some of the electical work was apparently a do-it-yourself job... it's a 1997 construction and none of the exterior outlets have GFIs.  There's also an un-permitted water heater in the basement, and the house has Louisiana Pacific siding on it... Goddamit.
We really, really need this house (our current apartment is about to be sold and is full of mold making us sick), the owner really, really has to sell, but neither of us can afford to have all this shit fixed. Roof would be at least $5k, plus electrical inspector and electrical contractor, there's two plumbing issues that need inspection and correction (one around the upstairs toilet and one in the downstairs bathroom), I'd want the slope behind the house checked by a geologist and an arborist (to verify the slope or the trees aren't coming down on the house anytime soon)... ...anybody got any hints? I'm new to all this and I'm quickly getting in over my head. 
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With the leaking roof and plumbing issues, you might find yourself with another mold problem. Who knows what else is waiting to be found.
I vote to pass on it. Rent a little longer if you have to, but this is a buyer's market and I would wait for something more ideal. |
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Quoted:
My wife, father-in-law, and myself all headed out to the house near Monroe we're hoping to buy. Walked through it with the home inspector (who was on our dime, so he was on our side - I was very impressed with how thorough he was). Really, really wise move. I can tell you all sorts of stories about BAD home inspectors that get paid by the buyer but really work for the Realtor. The most recent story is about an inspector that 'missed' a full termite infestation. The house is brick, but every wood wall needed to be replaced (read this as all inside walls) and the slab drilled for the exterminator. It worked out to be a $35k adder that no one anticipated. The inspector? Well, if you read your contract, he is liable for the cost of the inspection and nothing else. |
| Are you looking at foreclosures or just whatevers on the MLS? Theres a couple sites, foreclosurepoint and realtytrac that I've browsed. I signed up for the free 7 day trial of realtytrac last year and used the shit out of it for 7 days. I went to one of the auctions at the county courthouse in Everett and saw how that worked (dress warm) . I'll be seriously looking for a home again closer to summer and plan to go back to realtytrac myself. |
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If you are a qualified buyer in todays market .... there's no reason on earth to settle for anything less than the best digs for the best price.
You are in the drivers seat and every seller in town should be catering to your needs. Be patient and buy smart and you'll find a nice place priced right. |
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If you're actually approved for a home loan, take your time. There's plenty of properties out there, and a lot of good buys. If you don't get a steal on that place, pass This is absolutely correct. Also, leave your emotions at the apartment when you go house hunting. Emotions should be left out of this transaction. |