My family and I are interested in buying a home in the next year. I'm pretty good with finances and see a home as a series of systems that allow you to live a life and a series of risks to be managed - which is to say that I'm not afraid of cracked drywall nor will I assume new drywall means everything is okay.

Uh, I think that puts me ahead of most first time homebuyers but I'm sure there are still some things I should study.

Any books you recommend? There are a _million_ books out there on this sort of thing which only makes it difficult to figure out what to read.

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none. Good real estate agent, good home inspector. after that, MRF.



Edited 1 time(s). Last edit at 12/15/2018 09:34PM by space-time.

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space-time
none. Good real estate agent, good home inspector. after that, MRF.

This.

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C(-)ris
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Don't buy a home warranty, instead, put money away for the unexpected repairs. Ask around for a good plumber and HVAC company. Pretty much everything can be answered here or online.

Congrats on the house!

If not a new house, then undertake inspections by a frame structural engineer, and a mold specialist. Many so-called 'home inspectors' are not competent to diagnose serious problems.

My Number Two Son bought a 1970s house last year, which turned out to have serious mold and frame rot, which had been covered up by the previous owner (who perhaps did not understand the problems). Son is allergic to the mold, and ended up spending another 50% of purchase price in extensive mold remediation and repairs (all existing wallboard had to be replaced, plus some framing).

/Mr Lynn

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On the river in Saxonville.

This seems not so common in the midwest, but out here in the MidAtlantic you don't do this sort transaction without using a real estate lawyer.

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Bixby
This seems not so common in the midwest, but out here in the MidAtlantic you don't do this sort transaction without using a real estate lawyer.

I've been curious about that, using lawyers seem common in NY, but not in CA. What value does the lawyer add, and what sort of issues do they tend to catch?

I would think the most important issue is that the transfer of ownership is done correctly, and that's what the title company does and what title insurance is for. And if there's a mortgage, the bank (who is risking more money than the buyer) is another set of eyes on the entire transaction.

GGD,

This:

[www.nolo.com]

And, yes, a competent attorney can make a _huge_ difference in a real estate transaction, especially if it falls through.

Robert

....'Little House on the Prairie'......??

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I reject your reality and substitute my own!

A fat check book.

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If you know anything about woodworking or construction, read up on problems with home inspectors. As mrlynn comments, many are borderline useless and their only training might have been to learn the answers to pass the feeble local requirements. Their background should be relevant to issues with local building practices over the last 100 years (or however old the buildings you will be looking at).

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In tha 360. MRF User Map

so how does a structural engineer inspect what is behind dry walls? I think he may see something in an unfininshed basement, but, if the house has a fully finished basement, what can they see?

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space-time
so how does a structural engineer inspect what is behind dry walls? I think he may see something in an unfininshed basement, but, if the house has a fully finished basement, what can they see?

He would know to sight along exterior walls and the roof looking for bows and dips that could indicate hidden structural problems.

A regular home inspector would see cracked plaster and want it repaired. A structural engineer would see cracked plaster and want to know what caused the plaster to crack in the first place.

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WARNING- If I posted a link in the above message, assume it is at minimum "NSFW- Language". Occasionally you'll be wrong.

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What's my "Super Power"? I can make active threads go stone-dead with a single post. I try to use this power only for good and not for evil but, you know... stuff happens.

Home Buying for Dummies


[www.amazon.com]

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GGD
What value does the lawyer add, and what sort of issues do they tend to catch?

When we bought our place here in NJ, the previous seller held to none of the agreed-upon terms in the offer - timing-wise, what he was going to correct, etc. We thought he may have been trying to frustrate us enough such that we'd back out and he'd be able to re-list and get a higher price. Our attorney talked us through all the options and what the contractual obligations were.

The day we closed, the seller's attorney (the seller did not appear for closing) didn't even bring the pay off cash. So ultimately the seller was just, as my mom would say, a piece of work.

But an attorney helps you navigate when things don't go quite to plan.