Buying our first house!

[buxfan4life]

Sounds like I already have good news on the wiring issue...

The seller's agent was present during the inspection. Come to find out, she was nervous about our inspector and has come to refer to him as "The Dealbreaker". He's thorough, and that's why we hired him in the first place, then hired him again.

She stuck to one room most of the time and eavesdropped on the inspection. I was careful not to make to many indications about what I thought of the place or what was being found. I did make sure to let her know though that I had backed out of a deal based on an inspection once before and since I'm a month-to-month renter of my current place, I'm under no pressure to take on a place that's less than ideal.

When the inspector discovered the aluminum wiring in the circuit panel, he followed up by going around the house and checking what was behind the plates on some of the fixtures throughout the house. He did one of them right in earshot of where she was sitting, showing the aluminum wiring leading into the light switch and more aluminum wiring leading out of it to the new ceiling fan it controlled.

She called my agent unsolicited and said the sellers were already calling electricians to have the entire house retro-fitted with CopAlum, and that the work will be fully documented. We didn't even have to haggle over it.

This is going too smoothly - there has to be another shoe about to drop.

Glad to hear your seller is willing to fix problems. We have not heard back from FHA on the inspection results yet, and what might need to done before closing, but the seller's agent is already being a complete bitch about the possibility the seller may have to repair things before the home can sell. She claims my offer was stealing the house anyway and that I should take on all the responsibility of any repairs that need done at that price point, and has stated as such without talking to her client. I think the seller's agent is just getting pissed that I keep eating into her commission on a listing she has had on the market for 3 years.

Hopefully I find out tomorrow what needs done and we can move forward. Ugh, forgot how much a pain in the ass buying a house can be.

 

[Mac]

Sounds like I already have good news on the wiring issue...

The seller's agent was present during the inspection. Come to find out, she was nervous about our inspector and has come to refer to him as "The Dealbreaker". He's thorough, and that's why we hired him in the first place, then hired him again.

She stuck to one room most of the time and eavesdropped on the inspection. I was careful not to make to many indications about what I thought of the place or what was being found. I did make sure to let her know though that I had backed out of a deal based on an inspection once before and since I'm a month-to-month renter of my current place, I'm under no pressure to take on a place that's less than ideal.

When the inspector discovered the aluminum wiring in the circuit panel, he followed up by going around the house and checking what was behind the plates on some of the fixtures throughout the house. He did one of them right in earshot of where she was sitting, showing the aluminum wiring leading into the light switch and more aluminum wiring leading out of it to the new ceiling fan it controlled.

She called my agent unsolicited and said the sellers were already calling electricians to have the entire house retro-fitted with CopAlum, and that the work will be fully documented. We didn't even have to haggle over it.

This is going too smoothly - there has to be another shoe about to drop.

That's great news for you. Awesome that they are going to have it fixed.

 

[OneBuckeye]

So... what is the best way to find an inspector in an area you are unfamiler with? Our Agent reccomended us one. I got a quote from another I found with good google reviews and testimonials on his website. Looks like I might highjack this thread very soon.

 

[buxfan4life]

So... what is the best way to find an inspector in an area you are unfamiler with? Our Agent reccomended us one. I got a quote from another I found with good google reviews and testimonials on his website. Looks like I might highjack this thread very soon.

Sounds like you are doing your homework, which is key.

You can look up their licence online and see if there are any complaints. Angie's list might work (although I don't like how you have to pay for that website now). Ask anyone you know who bought a house recently and see who they used and how their inspector was.

The one I chose had no complaints logged, had a great rating on BBB, and had some acquaintances use him previously on their purchases and were very satisfied with the work performed.

 

[OneBuckeye]

Right. So one guy I can't find a cert for. The other is a prof inspector certified here. http://www.trec.texas.gov/ The other is certifed here. http://www.nachi.org/ Didn't know there were so many home inspector certfications out there. Sounds like pretty much anyone can call themselves a home inspector.

 

[jlb1705]

So... what is the best way to find an inspector in an area you are unfamiler with? Our Agent reccomended us one. I got a quote from another I found with good google reviews and testimonials on his website. Looks like I might highjack this thread very soon.

Ask for a sample report. A good one will be extensive, itemized and include photos. If they don't have one posted to the web, request one via email.

I dismissed out-of-hand anybody recommended by my realtor. I didn't tell her that of course, but that's what I've done. It makes things tougher if you haven't used somebody before (I'm in that same situation). But I want somebody who works for ME.

When you get a recommendation from your realtor you can't be sure of the basis on which that recommendation is being made. Is the person good, or will they just go though the motions and not get in the way of the sale?

 

[buckeyebri]

Sounds like pretty much anyone can call themselves a home inspector.

Yes, this is very problematic and you have to be careful and do your homework. Don't be afraid to ask for references that you can contact.

I dismissed out-of-hand anybody recommended by my realtor. I didn't tell her that of course, but that's what I've done. It makes things tougher if you haven't used somebody before (I'm in that same situation). But I want somebody who works for ME.

^this 1000 times this^

I have gone after the inspector on our last house and got him to pay me for his Fuck up. I also went after the realtor who recommended a inspection company on a house and got him to pay for a new furnace.

 

[buxfan4life]

Just got my appraisal back, and BOO-YA!!! nothing needs to be done before the closing of the sale. Sooo, that means I can take my time and get those things fixed correctly and no more haggling with that bitch of an agent the seller is using.

And to top it off, the appraisal came back in $10K higher than the purchase price.

I am feeling like this right now!

 

[buckeyebri]

Congrats! Are you going FHA? If so and you need money to do improvements or buy appliances you have some cap room, so to speak, on your loan to value.

 

[buxfan4life]

Congrats! Are you going FHA? If so and you need money to do improvements or buy appliances you have some cap room, so to speak, on your loan to value.

Yep, but I am not going that route since I have cash on hand. I went FHA so that I could undercut the price and keep a majority of my bank for improvements and such after the closing. That 10K will go towards the equity so I can get rid of PMI sooner, i hope. The plan is to do a lot of weekend DIY projects the next couple of years to upgrade and improve, then get re-appraised and hopefully be at 20% then.

Either way, I am stoked to have this process done soon. Almost forgot what buying a house is like.

 

[buckeyebri]

Good idea to get rid of that PMI as quickly as possible. I know my NC house has PMI and I understand it has doubled since I bought that house about 3 years ago.

The house we just bought, I did with 3% down and a little creative financing of an 80/17 loan to avoid the PMI/MIP. The 17% loan is a Home Equity tied to the real mortgage. So now I can pay principal in both areas as opposed to paying for PMI and getting nothing out of it.

 

[jlb1705]

This thing is cruising right along... *fingers crossed* *knock on wood* We're thru the appraisal and our loan application has gone to underwriting.

It's funny, the need for homeowner's insurance gave us the kick in the pants we needed to finally go in and get the rest of our insurance situation sorted out. My wife and I were still on separate auto policies from before we were married. We're saving enough by combining for multi-car and multi-line discounts to cover the entire cost of our homeowner's policy.

 

[Bleed S & G]

Congrats JLB - lots of fun & stress buying a place - I had sold about 85 buyers before I bought my place & wow, what a difference it is on the other end of things.

 

[buxfan4life]

T-minus 4hrs and 9 mins til closing.

Got my walk through scheduled for 2:15 today, closing at 3:00.

So glad that the process is almost complete. Took most of the week off from work (here now, but leaving at 2 for the walk through) so I can get some things painted, all of the little stuff moved, then Saturday morning I get the truck and move the furniture. I am hoping to be relaxing by the pool on Sunday with everything (for the most part) done.



**Little advice to anyone buying a home that is currently renting, try to close and take possession with at least a week left on your lease so you don't have to do the move out/move in thing on the same day. Did that with the first house I bought (was married at the time, and my son was still a baby) and it sucked trying to do everything in one day. It will also give you some time to do things like replace carpet, paint, clean (if needed) so that you aren't dealing with moving furniture later to do these things.

 

[Best Buckeye]

T-minus 4hrs and 9 mins til closing.

Got my walk through scheduled for 2:15 today, closing at 3:00.

So glad that the process is almost complete. Took most of the week off from work (here now, but leaving at 2 for the walk through) so I can get some things painted, all of the little stuff moved, then Saturday morning I get the truck and move the furniture. I am hoping to be relaxing by the pool on Sunday with everything (for the most part) done.



**Little advice to anyone buying a home that is currently renting, try to close and take possession with at least a week left on your lease so you don't have to do the move out/move in thing on the same day. Did that with the first house I bought (was married at the time, and my son was still a baby) and it sucked trying to do everything in one day. It will also give you some time to do things like replace carpet, paint, clean (if needed) so that you aren't dealing with moving furniture later to do these things.

Congrats Buxfan on getting your new home. As soon as you get done today pm me so you can come here and I'll sell you all the tools and supplies you will need over the next 30 years or so to keep your house in tip top shape.
I don't need them anymore cuz I'm retired.....