nunya
SEE ROCK CITY 475 MILES
Premium,MVM
join:2000-12-23
O Fallon, MO
clubs:
 ·AT&T CallVantage
| Know when to run!
I've seen a lot of questions from first time buyers on here. I thought I would start a thread asking current homeowners and pros to post their advice on what to run away from. Please share your wisdom with the "yoots".
I'll plant my seeds of wisdom.
1) Water in the basement (or anywhere else it shouldn't be). Run.
2) Aluminum wire - I DO NOT give a rats ass if you haven't had any problems in the last 30 years. Run.
3) "Flip" houses: These are often done by amateurs trying to make a quick buck. These are also done by professionals trying to turn a quick buck. Their goal is to "sugar coat" the house without spending a lot of money on the innards. These should be very carefully inspected.
4) Crappy neighbors. That 1980 Granada and pile of tires in the neighbors back yard is not going to magically disappear when you close on the property.
5) Always have a home inspection. An inspector is never going to say "don't buy this house". Read between the lines of the report.
6) Find out about the HOA. There are some HOA's out there that make Hitler look like a rational guy.
7) Sellers repairs: The seller is going to do it the cheapest cheapskate way they can cheaply do cheap repairs. Make sure it's understood that seller repairs are to be completed by licensed professionals in a neat, code compliant, professional manor.
8) Incomplete or evasive disclosure. As-is generally means there is something majorly wrong.
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Looks like Reverend Wright got his wish - God Damn America.
Nancy Pelosi - House Minority Leader 2010
Harry Reid - Senate Minority Leader 2010 |
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nonymous
join:2003-09-08
Glendale, AZ
1 edit | 1) Depends on how much you like the house and where it is coming from. May be an easy enough fix. Some water tables just are that high.
2) Aluminum is fine as long as the correct parts are used and it is checked every so often. Bad installs or using copper parts on aluminum is a problem .
8)7) When I sell my house I am tempted to go as is. Buyers are tending towards not nice people and when buying an older house then want everything just like new. You have a 6 year old heatpump not good enough we want new. The plumbing is 15 years old give us new. We are buying used and want eevrything new. My house is just fine but I can not guarantee a pipe will not leak next month it is used not brand new from a builder. Why the heck should I put a like new guarantee and pay to fix up everything. if I did that I might as well stay here. Plus if I do that my price is going up. I need to put thousands in I will do that before I sell and raise the price. You are buying used at used price. You want a fricking new warranty go buy new.
I will not hide any problems but be real is it an older house not brand new. Why the heck should I pay to make it new. You want new then fix it up after purchasing it. All I will guarantee is the age of everything in the house. Roof newer than house. Heatpump installed on x date etc.
Why should I pay if the home inspector says I have old plumbing. You do not have to buy it. Or pay me what I want and install new yourself. I won't lock you into buying if you don't want too why should you be able to lock me into fixing everything up for like new you.
You want a repair buy it and do it yourself. if you do not now want to buy it do not. It may be getting so bad the buyers want the whole house torn down and a new one installed. |
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bent
not broken
Premium
join:2004-10-04
Loveland, CO
clubs: | Good luck selling your money pit in this market 
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Greedy Old Pigs |
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scooper
join:2000-07-11
Youngsville, NC | It's not necessarily a money pit - it's just not new.
All he is saying is if you're buying a "not new house" - don't expect "everything like new". |
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horsemouth
Please Clarify My CSP
Premium
join:2002-03-13
canada | reply to nunya
Good list.
The one I shake my head at is #2 every time I say Aluminum wire is bad people have 101 reasons why it is ok.
In my neighbourhood
9]Lead water lines and paint [some houses are 200 years old]
10]asbestos |
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bent
not broken
Premium
join:2004-10-04
Loveland, CO
clubs:
 ·Comcast Formerly ..
1 edit | reply to scooper
said by scooper  :It's not necessarily a money pit - it's just not new. All he is saying is if you're buying a "not new house" - don't expect "everything like new". Well, if I'm paying full market value for a house, it better be in pretty damn near new condition. If my inspector says "gonna need a new roof in a couple years," guess what? Seller is going to do one of the following: a. Put a new roof using a licensed contractor that offers a transferable warranty, b. Drop the price by the cost of a new roof, or c. Find another dumber buyer.
There's a TON of sellers out there who think their under-maintained out-of-date home is worth full market value. I guess there's buyers out there that will buy those houses, but not many...
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Greedy Old Pigs |
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Waterbug
join:2008-03-30
| reply to nunya
We bought an 80 year old house because my wife wanted a "historic" home. We had a buyers home inspection, and the inspector classified a lot of items as "typical for age". Big warning there, that we ignored. Very few things are meant to last 80 years, so "typical for age" was his way of saying "potential problem". Even though we were paying his fee, he was reluctant to say something was bad, because if he did and we backed out of the sale, no Realtor would recommend his services. |
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scooper
join:2000-07-11
Youngsville, NC
| reply to bent
If YOUR inspector said my house will need a new roof in a couple years , and you say "I want a new roof" - I just raised the price of my house by $10,000 (the price of a new roof) (I have A LARGE amount of roof).
Similarly for anything else - if what's there right now is working fine, and you're asking for new - you just raised the price by the cost of the replacement item. If this is not acceptable to you - then we will not be making a deal. |
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horsemouth
Please Clarify My CSP
Premium
join:2002-03-13
canada | reply to Waterbug
You may want to ask your lawyer next time. |
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Waterbug
join:2008-03-30
| said by horsemouth :You may want to ask your lawyer next time. The inspector did not "lie" in his report. He made statements that were open to interpretation. Unfortunately, we didn't read between the lines. I think he was smart enough to skirt legal liability. |
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horsemouth
Please Clarify My CSP
Premium
join:2002-03-13
canada
·Eastlink Cable
| said by Waterbug :said by horsemouth :You may want to ask your lawyer next time. The inspector did not "lie" in his report. He made statements that were open to interpretation. Unfortunately, we didn't read between the lines. I think he was smart enough to skirt legal liability. That is kinda what I understood.
What I was trying to say is that a lawyer recommended inspector is worth more than a real estate one. [In my market] |
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xbell
@cgocable.net | reply to nunya
10. Any sign that an electrician has attempted any of the communication wiring in the home.  |
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gregz
join:2009-10-01
| said by xbell :10. Any sign that an electrician has attempted any of the communication wiring in the home. I am sorry, but being bonded & insured, and the fact, that an Electrician can do a 100% better job, then a typical home owner. |
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xbell
@cgocable.net
| said by gregz : I am sorry, but being bonded & insured, and communication firms aren't or I guess I'm the only one
and the fact, that an Electrician can do a 100% better job, then a typical home owner. not all home owners from what I've seen....and not even close to a communication guy |
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telworker
join:2009-04-15
| reply to gregz
said by gregz : I am sorry, but being bonded & insured, and the fact, that an Electrician can do a 100% better job, then a typical home owner. Not what I see on a daily basis. I wouldn't let an electrician wire up a network, coax or voice system in a home or business any more than I would let my GP operate on me. |
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Daarken
Rara Avises
join:2005-01-12
Cajun Countr
·Cox HSI
·Suddenlink
| "being bonded & insured" does not make you a good contractor whatsoever.
I have seen so many "being bonded & insured" electrical contractors that are worth the toilet paper I flush more then I can count.
As a special systems designer we give those special "being bonded & insured" contractors special "oh shit not him" pricing.
Personally from seeing the quality of Nunya's posts and responses I would be honored to subcontract under him.
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Getting it Done. |
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PhoenixDown
-- Wants FIOS
Premium
join:2003-06-08
Fresh Meadows, NY
clubs:  | Zombies... definitely zombies!
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~ Insert a Funny Sig Here ~ |
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nunya
SEE ROCK CITY 475 MILES
Premium,MVM
join:2000-12-23
O Fallon, MO
clubs: | reply to nunya
Well. It was a good idea anyway. |
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bent
not broken
Premium
join:2004-10-04
Loveland, CO
clubs: | reply to scooper
Back to my original point. Good luck selling your money pit.
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Greedy Old Pigs |
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cdru
Go Colts
Premium,MVM
join:2003-05-14
Fort Wayne, IN
| reply to nunya
I guess I'm going to be screwed trying to do my first flip of a home with a wet basement that uses Al wiring with the Beverly Hillbillies living next door and a Nazi HOA. I fixed everything the buyers wanted that I could find on clearance and the inspector sure appeared surprised. He said that he had never seen a home like this...I'm pretty sure that was a good thing. I just hope they don't test for for lead paint, asbestos tiles, leaky buried oil tank, or the plugged leech field for the septic tank. I marked down on the disclosure that it was all good... |
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