First time House Buyer

[bronco300]

well..it's possible i may be looking into purchasing a house...anyone have any advice for things to look out for so i don't get ripped or anything like that?
thanks

 

[tangman99]

Make sure you get an inspection with a reputable inspector. I forget the certification but don't go with some cheap company to save money here. Are you using a realtor? You should make sure you check local comps to see what comparable homes in the area have sold for recently to make sure the price is in line with what they are asking. In most places right now, it is a buyer market but not all sellers have realized that so many are still asking too much. Not sure in your area though.

 

[bronco300]

thanks, i figured i'd see you come around here

i was just looking through remax right now for houses in the area.

 

[renogaw]

well, i've had 2 inspectors that i've had to point out things to while doing the inspection. if at all possible, if you know liscenced tradesmen, get them there as well. THEY know what to look for.
also, go with a realtor. very much worth the commission.

 

[30-xtra high]

my mom is a realtor.. i can't tell you enough how many people buy a house.. and a year later have a soaking wet basement, or plumbing struck a leak.. its a good idea to have 2 inspectors.., some things to look for..
a dry basement,if its damp.. or wet that either means broken pipe, or the house leaks in stuff from outside..
has to have a fish room.. i need not explain..
make sure all your stuff will fit, it really sucks when you move into to small of a house, and have to leave behind some of your stuff
look for a good community, good neighbors
and if you get a realtor, don't let her/him pressure you into ANYTHING.. make sure it is THE HOUSE for you..

 

[scubaguy]

No matter what, make sure you are there for the inspection. Also make sure they test for moisture even if it is a new house. I have been in two homes, how the inspectors inspect the roof is with binocolars(sp?) :scared: If it is a good inspector they will get up on the roof and inspect it(ducts, pipes, air vents) Also as my dad always told me LOCATION, LOCATION, LOCATION !

 

[renogaw]

also check for mold in the attic.
its funny, our last realtor wouldnt let us buy a couple houses

 

[kogle]

Bronco, I found it helpful to take the day off and go through the home inspection with the inspector guy. That way you can ask questions about anything you see and if you are around they are likely to do a more thorough job. It's not a bad idea to have two inspectors or maybe even a good friend who knows a little about houses to take a look.
Are you shopping in Indy?

 

[watson3]

Depending on how old the house is, wiring in the walls could become a problem with you tank and all its needs

 

[bronco300]

thanks guys!!! yea, i am shopping in Indy, found some nice looking houses on remax...whats the biggest advantages to having a realtor?

 

[renogaw]

they KNOW real estate. they know the laws, what is priced right, what you can ask for and be asked for. nice thing is when you're buying the house, the seller pays the commision.

 

[hot883]

Never pay asking price.
Home Inspector is Key (ask for credentials and or log of how many homes inspected.)
DO NOT GET A VARIATABLE RATE MORTAGAGE
Get the police/crime report printout for your area.
Check for child predators (registered)
Check with local fire department and find out what their rating is. Lower the number (better they are) and your home insurance will be cheaper the lower their rating is.
Barry

 

[rykna]

You don't have to do the paper work and they can find alot more homes that you would have acsess too....
if you get a really good one, like we had in virginia...they'll find out info about the house your interested in that most sellers don't want you to know

 

[threed240]

Also look into buying from an auction. I purchased my house last year through williams & williams auction and got it for around half of what it appraised for. You can google it to find there website, then just search for homes by your zip code. When I signed my papers I had over 50k in positive equity. Well worth it with the rate of foreclosures now.

 

[renogaw]

definitely forclosures would be a great way to get an inexpensive house. with the housing boom and everyone getting refi's and variable interest rates, and those interest only loans, and all the other gimics that came out, forclosure rate is up. plus some people bought houses at the wrong time and paid way too much for their houses and just now cannot afford them. just be warned: forclosures may have problems that you definitely would want a couple inspectors for to check them out.
also: have the house inspected for termites, and get the chimney cleaned BEFORE the inspection. the homeowner will almost always have to clean the chimney after the inspection, but with a dirty chimney you cannot see if it is cracked.

 

[scotts]

You can also look for houses on your own on Realtor dot com, just to see what is out there and get pricing. I agree about using a realtor, however don't let them sell you on a house. Our realtor would walk in with us and say NOTHING! He would answer our questions, maybe point out some interesting but but mainly let us look at the house. Some of the realtors they have on some of the house buying shows are awful.
If you have kids you should check out the schools. In CA we have a standarized test that all the kids take, then you can see the scores of each shool. We did not buy one house that we liked because the schools in that area were not very good.

 

[shogun323]

I find it a good practice when you find a prespective home to go to the counties property appraisers website and peruse around to see how much other homes have sold for in the area. Another great tool is zillow.com !!!!!
Good Luck to you!!!

 

[renogaw]

oh, dont forget to get a septic inspection if not on city water. also if on well, if there's ANY rust in the toilet tanks get the existing homeowner to put in a rust removal system--not just a water softener. get a water test done to test how much rust is in there.

 

[earlybird]

Go with a fixed

[hr]
.

 

[geridoc]

Be careful with a realtor. If the seller is paying the commission, then it is vital that you understand that the realtor's loyalty is to the seller. They will seem to be working for you, but they are legally obligated to represent the seller's best interests, not yours.