I am buying a new home and it is an existing home....

[mom4conservatives]

I am buying a new house, the house is an existing one. I have a built a home before, but I was just wondering if anyone had any advice that maybe you had wish someone had told you or you wish you had known etc. I think you get my point. I mean I have all the advice in the world from my parents but just thought I would ask a much more none biased collection of people!!

Thanks M4C!!

[pattyk]

read your papers at closing. there's a lot of words there but pay attention to things, like, if you have penalty for paying it off sooner and whatnot.

just one thing I can think of.

[mom4conservatives]

read your papers at closing. there's a lot of words there but pay attention to things, like, if you have penalty for paying it off sooner and whatnot.

just one thing I can think of.

Really wouldn't have thought of that.


Thanks Patty, gosh long time no see. Great advice!!

[Frau Blucher]

Make sure the property lines are where they are supposed to be on your closing papers...friends of mine got gipped out of half of her lot that way! Then the sneaky buggers went and built a house on the lot and moved in!!!
She had to sell her house because she couldn't stand living by them after they scammed her!!!

[mom4conservatives]

Make sure the property lines are where they are supposed to be on your closing papers...friends of mine got gipped out of half of her lot that way! Then the sneaky buggers went and built a house on the lot and moved in!!!
She had to sell her house because she couldn't stand living by them after they scammed her!!!

Yikes, OK Mom just decided she is totally writing these posts down.

Glad I did this thread.

[Striker8440]

Patty gave some good advice, also a few things I can think of:

Does it have a basement or crawlspace? If a crawlspace how easy is it to get into and how tall is it?

Does it have a sump pump and if so how old?
How is the sumppump plumbed out? Is it tied into the main sewer line coming out of the home or straight out? (Straight out is best, I used to install sump pumps and the worst thing you can do is tie it into the sewer simply because the pump is fighting for flow and can back up either the sewer or the pump)

What shape is the roof in?

How old is the furnace/AC?

Does it have a garage, if so is it heated or not, how old is the garage door opener, and do you have extra remotes for it?

How is it insulated?

Are any of the load bearing walls cracking anywhere?

[SFC(R)L]

I am buying a new house, the house is an existing one. I have a built a home before, but I was just wondering if anyone had any advice that maybe you had wish someone had told you or you wish you had known etc. I think you get my point. I mean I have all the advice in the world from my parents but just thought I would ask a much more none biased collection of people!!

Thanks M4C!!

Hire a Realtor as a Buyer's Agent.

Have the Realtor review your process and ensure you have your survey, your appraisal, and review the sales contract with you. Review your financing documents to ensure they are as you agreed.

Hire a real estate attorney to review the documents for you, as Realtors are prohibited from practicing law in Texas.

Ensure that the survey is for the property you are purchasing and your appraisal is correct; have the mortgage company bless this along with the county title company holding the title.

[Liberty1980]

if it's not been stated, hire your own home inspector to look at the property before you commit. my sister was going to buy a house that was beautiful and had a really good price. they hired their own inspector and come to find out, the house was laden with termites and some of the main support beams were damaged from them.

[mom4conservatives]

Patty gave some good advice, also a few things I can think of:

Does it have a basement or crawlspace? If a crawlspace how easy is it to get into and how tall is it?

Does it have a sump pump and if so how old?
How is the sumppump plumbed out? Is it tied into the main sewer line coming out of the home or straight out? (Straight out is best, I used to install sump pumps and the worst thing you can do is tie it into the sewer simply because the pump is fighting for flow and can back up either the sewer or the pump)

What shape is the roof in?

How old is the furnace/AC?

Does it have a garage, if so is it heated or not, how old is the garage door opener, and do you have extra remotes for it?

How is it insulated?

Are any of the load bearing walls cracking anywhere?

Great questions. Some of them I already have the answer too. But will def. look into the rest!

[mom4conservatives]

Hire a Realtor as a Buyer's Agent.

Have the Realtor review your process and ensure you have your survey, your appraisal, and review the sales contract with you. Review your financing documents to ensure they are as you agreed.

Hire a real estate attorney to review the documents for you, as Realtors are prohibited from practicing law in Texas.

Ensure that the survey is for the property you are purchasing and your appraisal is correct; have the mortgage company bless this along with the county title company holding the title.

I already have a buyers agent. And I am sure he is going to think of all of these things all you wonderful people are saying. I just wanted to be sure.

Thanks!!

[mom4conservatives]

if it's not been stated, hire your own home inspector to look at the property before you commit. my sister was going to buy a house that was beautiful and had a really good price. they hired their own inspector and come to find out, the house was laden with termites and some of the main support beams were damaged from them.

Yikes. I hate termites. Sorry for your sister. But I haven't offered the contract yet and not sure when I will, but I have an inspector all lined up. Expensive but i was told by my realtor it was the only way to go to ensure my protection. And the seller of course!

[Liberty1980]

Yikes. I hate termites. Sorry for your sister. But I haven't offered the contract yet and not sure when I will, but I have an inspector all lined up. Expensive but i was told by my realtor it was the only way to go to ensure my protection. And the seller of course!
It might be expensive, but it's a smart investment for your biggest investment.

[SFC(R)L]

I already have a buyers agent. And I am sure he is going to think of all of these things all you wonderful people are saying. I just wanted to be sure.

Thanks!!

If you are in Texas, see

http://www.trec.state.tx.us/
http://www.trec.state.tx.us/complaintsconsumer/default.asp

should you have a problem, there is a fund to help you.

[mom4conservatives]

If you are in Texas, see

http://www.trec.state.tx.us/
http://www.trec.state.tx.us/complaintsconsumer/default.asp

should you have a problem, there is a fund to help you.

I am actually moving out of the state of texas. Although after gov. Perry today I might rethink it, no just kidding. But thankyou for the links and advice. Really I appreciate it.

[SFC(R)L]

Yikes. I hate termites. Sorry for your sister. But I haven't offered the contract yet and not sure when I will, but I have an inspector all lined up. Expensive but i was told by my realtor it was the only way to go to ensure my protection. And the seller of course!

Your inspector works for you, not the seller. The seller is not your concern. Ensure that you receive a copy of the inspection report, and that there is a buyer's walk through at time of possession.

[mom4conservatives]

Your inspector works for you, not the seller. The seller is not your concern. Ensure that you receive a copy of the inspection report, and that there is a buyer's walk through at time of possession.


Gotcha and yes the inspector will be working only for me!! Buyers walk thru I remember doing that with my existing home!

[Old Goat]

Many good suggestions here but the basis for all is, don't let your emotions get in the way of a good purchase.

I know it is hard not to fall in love with a house. You begin to dream of building your future there. You think of having friends over for dinner and you consider how your furniture might look. But don't let those idealized dreams get in the way of reality. Be prepared to walk away at any point up until you have a contract or all stipulations are satisfied. Be prepared to walk away.

We found a house we really liked many years ago. It needed a little work but was in a great location. The funny think is, there was a house down the street that was similar and was in perfect condition with a little better lot. After several rounds of negotiations I was ready to walk away but decided to come up a little on the price. It was still a good deal but not a steal. We got the house.

The next month the "better" house went on the market at the same price we bought. Overall, we did okay but could have saved a lot of effort and expense had we waited.

What I am trying to say is, there is no "perfect" house.

[mom4conservatives]

Many good suggestions here but the basis for all is, don't let your emotions get in the way of a good purchase.

I know it is hard not to fall in love with a house. You begin to dream of building your future there. You think of having friends over for dinner and you consider how your furniture might look. But don't let those idealized dreams get in the way of reality. Be prepared to walk away at any point up until you have a contract or all stipulations are satisfied. Be prepared to walk away.

We found a house we really liked many years ago. It needed a little work but was in a great location. The funny think is, there was a house down the street that was similar and was in perfect condition with a little better lot. After several rounds of negotiations I was ready to walk away but decided to come up a little on the price. It was still a good deal but not a steal. We got the house.

The next month the "better" house went on the market at the same price we bought. Overall, we did okay but could have saved a lot of effort and expense had we waited.

What I am trying to say is, there is no "perfect" house.

Ok very good point. I am female so naturally I am emotional, but shhhhhhhh. don't tell, anyway I am glad you said this because of my current martial situation thinking of a new home all mine and the start it represents is cheerful. So thank you for bringing me back down out of the rafters to reality and what will be, will be. God's got a plan. Hopefully the right floor plan, Just kidding I couldn't resist! But thankyou and sorry for what happened to you and yours.

[jeepers]

What is your legal recourse if it turns out the place has problems and how much time do you have to find them out? There are many things that you see AFTER you move in and the deal is done.

I've lived in new homes and old homes and have had less issue with an old home than with a new one.

If the roof has any issue at all, set it up that it's ripped to the studs and replaced. Your roof is your walls in the future. Bad roof, means bad walls.

Foundation has to be perfect.

Look for recent repair work and question it. Find out not just what, but WHY. We were told that our porch had a simple ice dam the previous winter. It's now been fixed multiple times and it's still not fixed. We think that it's a design problem.

Know that anything old is going to die, and probably sooner than you want it to. It's one thing to replace an old furnace. It's another to replace that..then the cooling system...then plumbing...then (fill in the blank). Updates get bonus points. If everything has to be updated, think more than twice before you sign the dotted line. Unless you've got a lot of available cash lying around.

Yes, pay for an inspector, but he's not going to tell you things like 'if you have to do plumbing on that big bathtub, there is no kick plate so you're going to have to rip tile in that event". Design problems if up to code, are not going to be in that report. YOU walk around and look at each room and imagine having to repair anything in it. You'll start to get an eye for things.

And speaking of code...Our old house had a remodeled kitchen that was visually the bomb. Passed all of the 'inspections'. Then I go to use the trash compactor and the lights dimmed. And then when DH used the garage door opener, the lights dimmed. WHA?

Turns out, whomever did the remodel put like all of the lights in the kitchen, all of the appliances, and the garage door on ONE circuit. It wasn't cheaper to do that, it was just sloppy. However, the circuit box was all labeled correctly, it just wasn't really what those switches represented.

Dh is handy so he was able to fix it. This wasn't cheeper to do, it was just stupid on that contractor's part.

And then when I took my first bath, I reached for the soap and noticed that there were brush streaks on the soap holder. My brain went WHA? for a moment, and then looking more closely, I realized that all of that ivory tile had been PAINTED.

PAINTED? Yeah, when you scraped one of them, that tile was really pink. PINK. They freaking painted the tile in the entire bathroom! :lol:

So don't just look at the house...LOOK at the house. I mean, squint at it, close up. Look for the flaws and see if you can live with them.

You'll see things more than 'isn't this living room so sunny and airy?' You've already established that you like the thing in general. Now look at how it's BUILT. How it's designed. And how sturdy the parts are.

You'll get a different impression.

[jeepers]

Btw, if I was buying a house in Texas, I'd really want it to be super insulated, have newer windows for the same reason, and a newish a/c. I'd also be paying attention to areas that might have bad drainage, or outdoor mold problems. That humidity must wreck havoc with homes. And moisture indeed means potential termites.

The old home mentioned above? Termites UNDER the porch and a side wall and there was absolutely no visible damage to me as a buyer. Found by our inspector.

[mom4conservatives]

Btw, if I was buying a house in Texas, I'd really want it to be super insulated, have newer windows for the same reason, and a newish a/c. I'd also be paying attention to areas that might have bad drainage, or outdoor mold problems. That humidity must wreck havoc with homes. And moisture indeed means potential termites.

The old home mentioned above? Termites UNDER the porch and a side wall and there was absolutely no visible damage to me as a buyer. Found by our inspector.

I love ya jeepers, but you are scaring the **** out of me!! Not really but wow this is very eye opening. They painted the bathroom tile. OMG i would never even think to look for that let alone do it. But I am honest so i would feel bad. No poker face here. But I will def. do all of your suggestions. I have 3 I am thinking of but after yesterday i pretty much eliminated one of them b/c once I started really looking it was just one thing after another. And cash flow isn't in the cards. But, I hope you still like your house.

[SFC(R)L]

Gotcha and yes the inspector will be working only for me!! Buyers walk thru I remember doing that with my existing home!

feel free to PM me as I am a licensee

[mom4conservatives]

feel free to PM me as I am a licensee

k great to know thank you for that kind offer!! Wow super people here in Hannity land. But i already knew it. It is just situations like these even with some of the stuff that goes on , on the boards, we really are one big loving community!!

[Frau Blucher]

I love ya jeepers, but you are scaring the **** out of me!! Not really but wow this is very eye opening. They painted the bathroom tile. OMG i would never even think to look for that let alone do it. But I am honest so i would feel bad. No poker face here. But I will def. do all of your suggestions. I have 3 I am thinking of but after yesterday i pretty much eliminated one of them b/c once I started really looking it was just one thing after another. And cash flow isn't in the cards. But, I hope you still like your house.

Just watch a few of those design to sell shows on HGTV...that will give you an idea of what to look for, to see if it has been "upgraded". :whistle:

[mom4conservatives]

Just watch a few of those design to sell shows on HGTV...that will give you an idea of what to look for, to see if it has been "upgraded". :whistle:

I will do that, never thought of that.

[JimGP20]

I am buying a new house, the house is an existing one. I have a built a home before, but I was just wondering if anyone had any advice that maybe you had wish someone had told you or you wish you had known etc. I think you get my point. I mean I have all the advice in the world from my parents but just thought I would ask a much more none biased collection of people!!

Thanks M4C!!


Alot of great advice given in this thread. I would like to add... really... and I mean really talk to the former owners about the house. Find out what everything does and what every knob, lever and handle is for. We bought an older house 2 years ago and it has a swimming pool and just last weekend, I discovered a knob on the side of the house that fills the pool. I had been using a hose to add water. There are tons of things that former homeowners have probably done to the house that you will wish you knew about when they come up. Try every switch on the wall and figure out what, if anything, it is for.

[mom4conservatives]

Alot of great advice given in this thread. I would like to add... really... and I mean really talk to the former owners about the house. Find out what everything does and what every knob, lever and handle is for. We bought an older house 2 years ago and it has a swimming pool and just last weekend, I discovered a knob on the side of the house that fills the pool. I had been using a hose to add water. There are tons of things that former homeowners have probably done to the house that you will wish you knew about when they come up. Try every switch on the wall and figure out what, if anything, it is for.


Jim gotcha, Btw bet you are glad you don't have to get the hose out anymore.

[jeepers]

I love ya jeepers, but you are scaring the **** out of me!! Not really but wow this is very eye opening. They painted the bathroom tile. OMG i would never even think to look for that let alone do it. But I am honest so i would feel bad. No poker face here. But I will def. do all of your suggestions. I have 3 I am thinking of but after yesterday i pretty much eliminated one of them b/c once I started really looking it was just one thing after another. And cash flow isn't in the cards. But, I hope you still like your house.


Yes, I do, I even liked the old one with the painted tile! :lol:

Look, it's about taking off the 'I love this place' glasses, like you did with the one that you rejected. I looked at 35 different homes before we picked this one and it was almost out of desperation. You're always going to find things that you like, things that you don't like and things that need to be fixed,..and things that you discover that will be repaired afterwards.

But you sort of need sort of a context as to what is mandatory and what is optional. I needed an interior open floor plan because we are from a different state and used to more outdoor living than here. Tiny hallways made me feel claustraphobic. Needed a decent flattish backyard so that the kids could have a swingset. And the best school district that we could get into.

The rest was about total functionality. Didn't want a fixer upper because getting used to an entirely different community where everything was new was going to be hard enough. Some fixing, okay. Lotsa fixing, no.

So that pretty much nixed a bunch of properties that we saw with really horrible cabinetry and wallpaper. Didn't even have to look at the furnace when you're faced with about 100k of asthetic remodeling that we neither wanted to do nor could afford. It had to be 'we can move right in after I give it my own bath', ready.

I'm glad that we did it that way. Got the school, the backyard and it was ready, freddy.

Yep, we still found issues, but since we did a lot of work before the purchase, we knew mostly what we were facing afterwards. And that is the entire point. It's not about finding a home without flaws, it's about making sure that you don't get any large and nasty surprises.

If you get past the basic context, and then spend time in the place walking around going 'what needs to be fixed, here?', that will take care of a whole host of unanswered questions. It might also create some questions that you might be glad that you asked.

Leave the termites to the inspectors, look at it from the home repair point of view. And the 'I have to live in this' angle. And the 'will this drive me bat **** crazy?' level. LOL

If I had it to do over again, I might look for a place that had a mudroom immediately off the kitchen. In the winter, I'm constantly having to worry about keeping that area dry and free from mud and water. Would rather have tile than hardwood at that entry way. Is that critical? Heck, no. But it would make life easier.

So like I said, imagine LIVING there. Imagine owning it. The better you're able to do that, the more realistic you can be about having to deal with it once you own it.

[mom4conservatives]

Yes, I do, I even liked the old one with the painted tile! :lol:

Look, it's about taking off the 'I love this place' glasses, like you did with the one that you rejected. I looked at 35 different homes before we picked this one and it was almost out of desperation. You're always going to find things that you like, things that you don't like and things that need to be fixed,..and things that you discover that will be repaired afterwards.

But you sort of need sort of a context as to what is mandatory and what is optional. I needed an interior open floor plan because we are from a different state and used to more outdoor living than here. Tiny hallways made me feel claustraphobic. Needed a decent flattish backyard so that the kids could have a swingset. And the best school district that we could get into.

The rest was about total functionality. Didn't want a fixer upper because getting used to an entirely different community where everything was new was going to be hard enough. Some fixing, okay. Lotsa fixing, no.

So that pretty much nixed a bunch of properties that we saw with really horrible cabinetry and wallpaper. Didn't even have to look at the furnace when you're faced with about 100k of asthetic remodeling that we neither wanted to do nor could afford. It had to be 'we can move right in after I give it my own bath', ready.

I'm glad that we did it that way. Got the school, the backyard and it was ready, freddy.

Yep, we still found issues, but since we did a lot of work before the purchase, we knew mostly what we were facing afterwards. And that is the entire point. It's not about finding a home without flaws, it's about making sure that you don't get any large and nasty surprises.

If you get past the basic context, and then spend time in the place walking around going 'what needs to be fixed, here?', that will take care of a whole host of unanswered questions. It might also create some questions that you might be glad that you asked.

Leave the termites to the inspectors, look at it from the home repair point of view. And the 'I have to live in this' angle. And the 'will this drive me bat **** crazy?' level. LOL

If I had it to do over again, I might look for a place that had a mudroom immediately off the kitchen. In the winter, I'm constantly having to worry about keeping that area dry and free from mud and water. Would rather have tile than hardwood at that entry way. Is that critical? Heck, no. But it would make life easier.

So like I said, imagine LIVING there. Imagine owning it. The better you're able to do that, the more realistic you can be about having to deal with it once you own it.

I originally sent the realtor a list of some 30 homes , but we narrowed it down to I think15 or 16. Some I knew right away oh heck no, others not. But the one I am pretty sure of is only 7 years old. Was lived in by a women who lived on her own. A middle aged women. We saw a few little things that would be easy to fix. As far as the eye could tell so far. Nothing major . So that will be where the inspector comes in. But I will take everything you just said and really read again a couple of times and put into the good ol' memory bank. I really appreciate you taking the time to type all of this to me. Really I do. You and everyone else here has been a blessing.

But keep the suggestions coming!! M4C:D

[Thank you Troops]

Get a conforming loan from a bank and stay away from mortgage companies unless you have to because of your credit. The interest rates are low so get a fixed loan. Lowball the offer and ask for the lawn mower also.

[Dreamy]

How exciting Mom!

Best money we ever spent was for the real estate attorney for the closings. Not the bank's attorney. Our own personal attorney whose only function was to protect us and our investment.

[mom4conservatives]

Get a conforming loan from a bank and stay away from mortgage companies unless you have to because of your credit. The interest rates are low so get a fixed loan. Lowball the offer and ask for the lawn mower also.

I am working with a private bank. Def. am trying to stay away from Mortgage Co.

The lawn mower ok!! LOL

[mom4conservatives]

How exciting Mom!

Best money we ever spent was for the real estate attorney for the closings. Not the bank's attorney. Our own personal attorney whose only function was to protect us and our investment.


Yes it is, but not so much sometimes considering the circumstances. Scary too.

Yes a real estate attorney is a great idea and thing to do.:D

[SFC(R)L]

I am working with a private bank. Def. am trying to stay away from Mortgage Co.

The lawn mower ok!! LOL

Just bought a new 2009 Suburban for Mrs. SFC(R)L.

Got a pretty good deal, got a good vehicle.

Told the salesman, "Look, for this kinda money, you need to hang a ranch hand on the front of that thing for me."

He asked me if that was the deal breaker. I said "Yup".

Mama got her new grey Suburban and she went over on Saturday and they hung her new cow catcher for free.

[mom4conservatives]

Just bought a new 2009 Suburban for Mrs. SFC(R)L.

Got a pretty good deal, got a good vehicle.

Told the salesman, "Look, for this kinda money, you need to hang a ranch hand on the front of that thing for me."

He asked me if that was the deal breaker. I said "Yup".

Mama got her new grey Suburban and she went over on Saturday and they hung her new cow catcher for free.

well lucky her, the Mrs. I mean.

I get your point though!:D