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buy a house?

Discussion in 'The Okie Corral' started by modgun, Mar 16, 2010.

  1. modgun

    modgun CLM

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    Leaving to look at a house for the first time...ever...in any way...first time...any suggestions?

    thanks guys.
     
  2. HerrGlock

    HerrGlock Scouts Out CLM

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    Spend $200-500 and have a housing inspector of your own look it over before you sign anywhere and have the fixes the person finds written in as "must be fixed" before you'll sign. It's worth every penny. Even if the inspector doesn't find anything, that's worth the money too.
     

  3. farley45

    farley45

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    I'll be doing the same thing within a year or so.


    Good luck:wavey:
     
  4. RCP

    RCP

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    Just bought my 1st house this year, things I would suggest would be:

    Pay attention to the surroundings, we found some nice houses but some of them were surrounded by other homes that were not so well taken care of. We found another one that we really liked but it backed up to an industrial park. When all was said and done we ended up buying one in an HOA subdivision which has it's advantages and disadvantages.

    If you choose to go that route try and learn as much about the HOA as possible. Annual cost, amenities, and what there rules are (for instance in one community we looked at they wouldn't even allow you to wash your car in your own driveway :upeyes:).
     
  5. HerrGlock

    HerrGlock Scouts Out CLM

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    Oh. When you drive into the neighbourhood look for:

    GOOD:
    Toys in the yard
    late-ish model cars
    garages left open
    front porches
    kids playing in yards and in street
    basketball hoops on sides of driveways

    BAD:
    bars in windows
    no one visible
    cars on blocks (more than one or two per street)
    obviously empty houses frequently
    poorly maintained cars outside
    no kids visible
    no toys in yards
     
  6. wjv

    wjv Zip It Stan Lee.. . .

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    Check out the neighborhood in the evening or on a weekend.

    How many cars are in the street. How many junkers. How many barking dogs / screaming kids and such. . .
     
  7. glockaviator

    glockaviator

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    Don't use the home inspector the realtor recommends. Realtors only recommend ones that don't find anything wrong. Actually, I'd try and talk a small home building contractor into doing it for you, pay him of course. Pay close attention to things that are SERIOUS like foundation, mold, termite damage. Old roofs, siding, painting etc can all be fixed. Although even the small things matter. Around here it's cracked foundations. Everygthing else is fixable. On an old home, everything, on average, is 1/2 worn out. You can make a water heater last forever by replacing the sacrificial anode every 5 years BTW.

    Realize you are allowed to shop around for your own mortgage. Do so. Rates vary. Don't get sucked into low rate lead ons. Find a website that quotes true rates, no gimmicks. In Colorado http://www.crowder.com/Default.aspx
    (nothing to do with me, just has the current true rates right there on his website and quotes no BS rates. Your area may differ. Find a no BS one. Dont get any mortgage insurance, extended warranties or any of that other crap they try and sell ya. That stuff is a bad deal.

    Before you buy a home you usually sign a contract. It details what you are agreeing to do, how much to pay and when. You can usually get out of it by not qualifying for the loan.
    When you buy a home you get Title Insurance, a Warranty Deed (the title to the property, and a Deed of Trust (document relating to the loan). All the other papers are mostly BS.

    Realtors work for themselves. All they care about is making the deal go through. As the buyer, you are in charge, make them work for you if you can. Anyway, don't let anyone intimidate you. Get copies of everything you sign and if you don't know what to do, DELAY, and talk it over with someone more knowledgable than you are.
     
  8. MrKandiyohi

    MrKandiyohi Millennium Member

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    Always be willing to walk away from any house. You won't die if you don't get that particular house. Chances are it won't be the last house you buy. If you have a wife, make sure she understands that and is willing to do that.

    Buying a house is a business deal, and it's not buying a box of Girl Scout cookies. You're not insulting a seller by offering less than what they're asking.

    Don't let your real estate agent pressure you into upping the offer. It's to his advantage to get you to buy the house - he doesn't have to pay for it.

    Don't wipe out your savings for the down payment. You'll want something in reserve. The purchase of the house is just the first thing you'll be paying for in the next 12 months - new furniture, carpeting, paint, lawn tools, water heater, appliances......