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New Possibly buying a beater house
Susan found this house yesterday:

[link|http://www.windermere.com/index.cfm?fuseaction=Listing.ListingDetail&ListingID=5212792|http://www.windermer...ListingID=5212792]

It's about 100k below what the average valuation for that neighborhood, and there is one phrase that concerns me: "Sold as-is, without Form 17 provided as Seller is exempt from disclosure."

This means that it probably has serious problems that the owner does not want to disclose.

We're going to go take a look at it Real Soon Now, and I'm wondering if anybody here has any experience in what to look for, what kind of questions to ask, etc.
All I want for my birthday is a new President!
New One major thing to look for
are cracks in the foundation or the basement walls. That is a big deal. Also check soundness of the ceiling beams in the basement, that could also indicate a water damaged house.

Edit: Look for water lines in the basement also, or water stains on the floor that could indicate leakage. Check walls for water trail stains as well, especially near the outside of the foundation.

Another thing would be to check for termites. Take a screwdriver or pocketknife and gently poke beams and wooden struts and things that stick out, make sure nothing feels "soft" or crumbly.

Other water damage can be found in the bathrooms, push on the tile walls, see if they feel firm. If they ripple, there's probably water damage in the walls, especially check near bathtubs and shower cells.

Test all the water, run the faucets and be sure plumbing works and looks up to specs. Check any exposed plumbing for leaks and water stains.

Check the electrical outlets, make sure they work, test one or so in every room if possible. (You can take a simple nightlight for this purpose). Make sure they are grounded, especially if you want to be running computers, because it's expensive to ground them later.

Edit: You can use a grounding checker for this purpose, also, we had one, it's something you get at the hardware store and you plug it in and if the outlet is grounded, the plug thing lights up a small light.

Check the roof as much as possible. This isn't as easy, but you can climb up on a ladder and examine the roof visually, and also scan all the ceilings for any sign of water stains or damage. If possible, get up in the attic, if they have one, and examine the underside of the roof as well.

I know there's a few more, (we learned all this before buying our house), but I can't think of them right now. If I remember others I'll post them.

Good luck!

Brenda



"It's not where a person stands in time of comfort and security, but rather where they stand in times of strife and controversy that determine true friends."
(Quote sent to me by a true friend, author unknown).
Expand Edited by Nightowl Oct. 15, 2004, 12:08:10 PM EDT
New Re: Possibly buying a beater house
foundations, walk around looking at the eaves for signs of rot, sagging floors, bouncy feel. The trick on a beater is to avoid major structural problems, before putting in an offer get an attourney to draw an offer with right to inspect (by a pro) and the right to negotiate what the inspector finds.
regards and luck,
daemon
New Also walk the ground towards the sewer
look for discoloration and sniff the soil for sewage seepage.
regards,
daemon
New This is where it pays to hire a house Appraiser / Inspector.
As a guess, it would cost you perhaps two to four hundred dollars for the service. But, you would then know what you're getting into.

Obviously, you need to be pretty certain you have a serious interest in the house and indeed decide beforehand on a max budget for repairs.
Alex

In politics, what begins in fear usually ends in folly. -- Samuel Taylor Coleridge, poet (1772-1834)
New Absolutamente!
My Realtor and honorary Jewish Mother, Trude - always insisted upon a (bloody good) Inspector, a Licensed one. Period.

(And an 'architect' - then.. at a pittance - on any serious remodel: that guy saved us Thousands for a few hundred. Acting as manager of the subs alone was worth his fee many times over.) I suspect that with todays biz-ethics.. all even More So.

Luck - be paranoid; imagine that Bill O'Reilly or Dick Cheney are the 'sellers'.
New Well that was quick.
House was on the market for two days, got eleven bids, and closed for "thousands" above the bid price.

Never even got a chance to check it out. Scary.
All I want for my birthday is a new President!
New Probably built on an indian burial ground
--
Chris Altmann
New those go quick to people that rehab and resell
you have probalby seen their ads, will buy your ugly house. Their gig is to get a crew in there, clean and green then lease option it to a buyer with credit issues. They make the spread between the purchase and the cleanup vs PITI on the money outlayed and some operating capital while the new buyer cleans up his credit to get a conventional loan within 2 years. Ask a realtor for a foreclosure, and HUD repo list, get pre-approved for the loan, then move fast. Not for the faint of heart.
regards
daemon
     Possibly buying a beater house - (inthane-chan) - (8)
         One major thing to look for - (Nightowl)
         Re: Possibly buying a beater house - (daemon) - (1)
             Also walk the ground towards the sewer - (daemon)
         This is where it pays to hire a house Appraiser / Inspector. - (a6l6e6x) - (1)
             Absolutamente! - (Ashton)
         Well that was quick. - (inthane-chan) - (2)
             Probably built on an indian burial ground -NT - (altmann)
             those go quick to people that rehab and resell - (daemon)

Caveat emptor.
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