It's The Biggest....

[txgrneyes]

Purchase of my life…. I am buying a house.

What I am asking for is some tips…things you have done or should have done when you bought your place. Something you even heard when making a purchase this big.


Anything will be helpful…I know it varies from state to state…but let me know and I will check into it here in TX.

[Lilith]

Make sure you hire an inspector. We thought a VA inspection was good enough but we should have hired a private inspector.

[dicksbro]

You didn't say if it was a new house or a previously owned one. I'll guess the latter.

You might ask about utility bill histories, insulation in walls/ceilings. If there's a basement, does it have a sump pump ... any history of water problems. How old's the furnace or air conditioner. If it's an older home, has it been reshingled? Any warranty remaining on siding and is it transferable?


Oh yeah ... CONGRATULATIONS. We're happy for you. :D

[sodaklostsoul]

Congrats!!!!!

[dm383]

Congrats, sweetie!! Like Lilith said, the single biggest thing you have to do is get it inspected/surveyed - whichever the terminology is in Tx. After that, al the things db said.

And.............























........Enjoy!!

DM :D

[scotzoidman]

The inspector is the best insurance you can get before you sign the rest of your life away...the VA or FHA "inspections" are just bare minimum scans by whoever is sitting around the office with his thumb up his ass & needs something to do, & their only concern is that the house isn't gonna collapse before your signature is dry (& therefore making sure >their< asses are covered)...so cover your own sweet by paying somebody to be in your corner, & don't be afraid to demand that anything your guy finds is addressed BEFORE the big day...

As the closing day approaches, practice some hand isometrics to limber up...I shudder to think of the forests that gave their all just to get all the paperwork you'll hafta sign...

[WildIrish]

The best money you can spend is on a private home inspector. Make sure he's going to work for you...and be there with him as he goes through the house. He will be a wealth of information, and you can point things out to him as you're walking around with him.

He should check the roof, heating system, electrical system, sewer system, plumbing, foundation, insulation in crawlspaces or attic, structural areas like the flooring & stairs, chimney (either fireplace or heating system), and if you have a well...make sure he does a flow test to verify that the well can put out a decent amount of water without running into problems.

And get title insurance. If there's a problem with the title that doesn't get discovered in the title search...you're covered! When we refinanced our house last year, it was discovered during the bank's title search that our land was actually comprised of two lots. Only one of the lots had gone through probate when the previous owner's husband had passed away, so technically we owned our house and the lot it sat on, and the second lot was owned half by us and half by a person that had passed away. Because we had title insurance...they paid to straighten the whole mess out!

[Coaster]

I'll echo all the above because we are doing exactly all the above with my son. He's been looking and with my building experience I'm able to point out simple things for him to consider..... but on the house he finally is going to bid on, we'll get an inspector!

[maddy]

Ah! I've been through this in Texas, even. If you are in the DFW area, I can recommend an inspector that I used a few years ago and was extremely pleased with. Attend your inspection and take a camera. You have the right to go through every nook and cranny at that point - open every cabinet, run every faucet (the shower too), open and close every window and door. My inspection in Texas lasted 2-3 hours and I walked out with about 100 digital pics of my own plus those of the inspector.

You'll also need a termite inspection. Not a big deal but it's required. Ask the inspector to show you things like where the main water shut off is for the house as well as the power supply.

Make sure you know how old the roof is and how many layers of shingles there are. Roofs only last about 5 years in TX because of the hail storms. Also because of this, your homeowners insurance will be high. Be prepared for a deductible that is 1% of the home value in order to keep the homeowners insurance reasonable. Also understand how water damage works with homeowners insurance in TX. There are two different coverages and the cost will vary dramatically.

Title insurance is also costly, but necessary. More than likely your closing will be at the Title company, this seems to be unique to Texas as far as I can tell. The bulk of the cost should be on the seller, but you will have a portion to pay as well.

Depending on the location you are in, be aware of how real estate assessments are handled. In the DFW area the assessed value becomes the purchase price after you close. Therefore if the purchase price is considerably higher than the assessed value, your taxes could increase considerably as well. You can ask your realtor, but I suggest getting in touch with the assessors office to verify it too.

Home warranties seemed common in Texas too. They are okay deal, just realize what you are getting into. The seller typically pays the cost for this as well. An example: My hot water heater died about 30 days after moving in. I knew the hot water heater wouldn't last long, but didn't request it to be replaced becuase i had a home warranty. What i didn't know is the home warranty does NOT cover the cost to bring it up to code. And the home warranty company doesn't often send out the cheapest of tradesman. The replacement of the hot water heater cost me over $500 when I expected it to be about $50. Your hot water heater is likely to be in the garage or attic, make sure the inspector lets you know if its to code or not. Mine needed to be raised off the garage floor by 18 inches, plus an expansion tank needed to be added (looked like a smaller version of a propane tank).

Make sure you do a final walk through before the closing to make sure nothing has changed about the property since your inspection. Or to validate that any repairs you requested as a result of the inspection are corrected. When you go to the closing make sure the garage door openers (the controls you keep in the car) are present. People often forget and keep them in their cars.

Be prepared to pay for a full year of homeowners insurance before you close. This one caught me by surprise, I don't know how I missed it - I guess because it wasn't a closing cost perse.

If there's a sprinkler system make sure that is also tested at the inspection and ask for the manual to be left. If there's a fence (what do I mean if? everyone in TX has a fence) make sure it meets all the necessary requirements to be away from property lines and also make sure it's going to last awhile - they aren't the cheapest things to replace. Particularly if they are board on board, 8' with a cap and nice sturdy gates.

I'm sure I'll think of more. I know it's a lot of information, but I'm trying to tell you all that I learned when I purchased two homes in 3 years and one of them in Texas.

[osuche]

Shop, shop, shop. Look at comparables on zillow.com

Do NOT pay too much for the house. Do NOT buy the most expensive house on the block/neighborhood - you'll have problems selling it for what you want.

Do find a Realtor you trust - and do ask them to see if they will provide you with a rebate/discount if you find your own home and all they have to do is help you close the transaction.

Do investigate reduced-rate brokers like Assist2Sell, Zip Realty, and others to see if you want their services --- this approach can trim thousands of dollars off of the price of the house

Do have the foundation inspected.

Do research to see if you're in a flood zone or an earthquake zone, as this will increase your insurance rates.

Do call the police dept and ask about crime rates in the area; also look at the school ratings for the are you're in

Do hang out near the property during "rush hours" and make sure you're OK with the noise

Do measure rooms to make sure your furniture fits

Thanks all I can think of now.

[PantyFanatic]

I'm super happy for you TGE. :)

You'll love your home deeply and the work will never end, just like having a child. :rofl:

You are right that it will probably be the biggest thing you will ever buy. It surely will be the biggest dollar commitment you'll make. That means there is a lot of $$$ involved and that means the road is lined with every kind of parasite and opportunist that the establishment and commerce has to offer. Get as much information as you can then just use common sense.

http://www.archaeolink.com/home_buying_tips.htm

http://www.ourfamilyplace.com/homebuyer/first.html

http://www.look4movers.com/texas_house_buying_pitfalls.htm

http://www.greenbuilder.com/general/articles/greenhome.html

Please keep us posted.

[Cheyanne]

Now that everyone has managed to scare you to death..... lol j/k - all is very valuable advice - congrats TGE!

I really just had to post because I would be under PF.. ;)


and yes... I am in a flirty mood.. :)

[sodaklostsoul]

Hehehe then I get to be under Chey!!!

[Cheyanne]

hmmmmmmmmm... now that sounds interesting.. :D

[sodaklostsoul]

*wink* *wink*

[txgrneyes]

I really really want to run and hide now....


Thank to all for the advise. Now to put it to work for me. Will keep you posted.

[PantyFanatic]

*pinches self to see if I just died and went to heaven* :p


I've been waiting a looooog time to be over you. :hump:



..... and being under you two is the other half of my life's fantasy. :3way:

[txgrneyes]

And now I am over and under you. :spin: .


.PF make up your mind and do something or I am gonna have to take matters into my own hands...... :cuffs:

[sodaklostsoul]

*snicker*

[campingboy]

Congrads on the house hunting - looking. I'm sure that you will find a wonderful house and turn it into a home in no time.

Get a lawyer. A real estate agent is not working for you. They are working for the seller. Get a lawyer to review the Agreement to Purchase. You will have to see a lawyer to close the deal, so might as well get them evolved right at the beginning.

[maddy]

Believe it or not, the lawyer thing is state by state. When I purchased my house in Texas there wasn't one needed and I didn't feel I needed one as all the forms were just that... standard forms with blanks filled in. The real estate agent was working for me as I had my own and the seller had hers. All of the paperwork was completed by the Title Company, which is where the closing was held.

I didn't have a GOOD agent, but that's another story I won't get into.

One other thing, if you end up with funds in escrow - do make sure you understand the escrow agreement. Example: The seller gave me $3,000 at closing to replace the carpeting. These funds were held in escrow rather than just handed to me in the form of a check. If I failed to have the carpeting replaced in a given time (I think it was 90 days) the funds went back to the seller. The catch was the escrow agreement wanted me to have an inspection to validate the carpet was replaced. I argued that I was able to provide original receipts of the purchase and installation and wasn't willing to pay another $300 for an inspector to walk through my house and say "yup, carpet looks new". It was just one more headache I didn't need, but was able to get my money in the end.

[PantyFanatic]

.....That means there is a lot of $$$ involved and that means the road is lined with every kind of parasite and opportunist that the establishment and commerce has to offer. Get as much information as you can then just use common sense....... :rolleyes2

Believe it or not, the lawyer thing is state by state. When I purchased my house in Texas there wasn't one needed and I didn't feel I needed one as all the forms were just that... standard forms with blanks filled in. The real estate agent was working for me as I had my own and the seller had hers. All of the paperwork was completed by the Title Company, which is where the closing was held.

I didn't have a GOOD agent, but that's another story I won't get into.

One other thing, if you end up with funds in escrow - do make sure you understand the escrow agreement. Example: The seller gave me $3,000 at closing to replace the carpeting. These funds were held in escrow rather than just handed to me in the form of a check. If I failed to have the carpeting replaced in a given time (I think it was 90 days) the funds went back to the seller. The catch was the escrow agreement wanted me to have an inspection to validate the carpet was replaced. I argued that I was able to provide original receipts of the purchase and installation and wasn't willing to pay another $300 for an inspector to walk through my house and say "yup, carpet looks new". It was just one more headache I didn't need, but was able to get my money in the end.
:shrug:

[maddy]

Was I confusing?

[txgrneyes]

Lawyers are in, inspector was there and the seller was too....all and all we are a go.


I'll have the keys shortly....in exchange for the money of course

[osuche]

Congrats!

[dm383]

I'll have the keys shortly....in exchange for the money of course


Aah, yes....... there's always something, isn't there?? ;)

DM

Congrats, sweetie... it'll all be worth it, you'll see!

[PantyFanatic]

Was I confusing?
Not at all.


You were clear and simple. It wasn't presented by the lawyers yet. ;)

[wyndhy]

Was I confusing?
no. but he ^^^ is. :D

[WildIrish]

Attend your inspection and take a camera.



Excellent advice! :wtp:

[LixyChick]

My mistakes...

I let my realtor recommend an inspector...and then the realtor came to the inspection.

DON'T DO THAT!

Get an independent inspector (not associated with the realtor's office) and DO NOT let your realtor come to the inspection!

All the rest of the advice is fanfuckintastic!

Good luck and congratulations sweety!

[dicksbro]

Hadn't checked back in a bit. Have you closed? Are you all moved in now? When are you having us all over for coffee? :D

[txgrneyes]

Have you ever heard of buyers remorse? Well I have it. At this point I am not too happy but then on the other side of things I am. It really hasn't set in I guess. But then again I have been in the house only 5 days.

Already there are things that are going wrong.

1)My washer and dryer both quit on me only 1 day apart.

2)My sewage in the first bathroom is seeking revenge on someone or something.

3) The shower/tub cant hold it's liquid. Everytime I take a shower the water goes down the drain but ends up on the floor. I dont know what to do about that. :hair:

So my question is So now what? :rolleyes2

The good news is I am learning to repair things myself. :nana: I fixed my dryer...needed a new plug and the washer well it died. I had to buy another one. Now to tackle the bathroom.

I am taking the advise from a movie...you might have seen it..."Under the Tuscan Sun"...well anyway I love that movie. She said the secret to overcomeing buyers remorse is to find one room in the house and make it yours. Then move to the other rooms and introduce yourself slowly. Well maybe that will work...at least it did in the movie. :shrug:


WANTED

A MAN THAT IS HANDY IN EVERY WAY... :wish: JUST SUMMIT YOUR NAME HERE!

oh WELL JUST CHECKING IN....LOVE YALL....OH AND ANYTIME YOU WANT TO COME TO TEA...COFFEE...JUST COME ON OVER...BUT LET ME KNOW FIRST...SO I CAN CLEAN UP THE HOUSE...AND GET THE ROPE OUT.

[sodaklostsoul]

Sorry to hear that TGE, one day or room at a time. Hugs!!

[marval]

congrats miss grneyes!

[dm383]

Have you ever heard of buyers remorse? Well I have it. At this point I am not too happy but then on the other side of things I am. It really hasn't set in I guess. But then again I have been in the house only 5 days......

.........

WANTED

A MAN THAT IS HANDY IN EVERY WAY... :wish: JUST SUMMIT YOUR NAME HERE!

oh WELL JUST CHECKING IN....LOVE YALL....OH AND ANYTIME YOU WANT TO COME TO TEA...COFFEE...JUST COME ON OVER...BUT LET ME KNOW FIRST...SO I CAN CLEAN UP THE HOUSE...AND GET THE ROPE OUT.

Coffee? Tea? Or...Me? ;)

Seriously, though - sorry to hear about all your niggles. It'll all seem worth it in no time, honest! (And you know I'd be over in a flash to fix you up - if I could!!)

(((Natalie)))

DM

[txgrneyes]

Coffee? Tea? Or...Me? ;)

Seriously, though - sorry to hear about all your niggles. It'll all seem worth it in no time, honest! (And you know I'd be over in a flash to fix you up - if I could!!)

(((Natalie)))

DM

Now DM...you shouldn't tease like that. You know exactly what I want. And it just aint fair. I tell you it just aint fair. OH and BTW...where is my story?


Anyway after a week and a couple hundred dollars I have my house all working now. Now if I can just get it clean. It seems like it dont want to stay clean. I just clean one room and leave for a min. and then it is dirty again. I am still not excited though. Well ok a little...

Things to do:

Look for a house-check
Buy the house-check
Build a wall in the house-check
Fix the house-check
Find a man-
Clean the house-

ONly a couple of things left to do...not bad I guess...will post pics soon when I get the house cleaned up enough to take pics...OK?

Love to all,

Natalie

[Winston77]

WANTED

A MAN THAT IS HANDY IN EVERY WAY... :wish: JUST SUMMIT YOUR NAME HERE!

.
I'm available just let me know when. I could use to get out of this snow!