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SQLit
 
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Default New Home - Inspector Found some SERIOUS issues.


"Gren" wrote in message
om...
Oh boy. Just this past friday, my wife, our broker, an indepedant
inspector and I converged and met regarding a house we're looking to
buy. We love this house, and really have begun to dream about what we
can do with it. It's a little bit of a fixer-upper, but nothing
crazy... or so I thought.

Enter.. the inspector. "Hmm.. well.. that roof is an issue" "Oh?"
It turns out, the seller never replaced the roof.. they just layered
it. 4 -6 layers of shingles. We had an opportunity to get in the
attic and see the roof from the inside-out and found there was NO
plywood sublayer for the shingles. They were nail directly onto the
rafters and then scaled. No sublayer.. no tar paper.. just shingles.
4-5 layers of 'em.

SO. (1) We need a new roof.. the whole thing ripped up and replaced
with plywood (or whatever that first layer is) and shingles.

Next thing. (2) 60 amp electrical service to the house. (ugh)
ORIGINAL and ACTIVE knob and tube wiring throughout. I would say
10-20% of the house is knob and tube/fuses.. the rest on a curcuit
breaker. Need to have it updated to 100/200 amp service.

annnddd.. (3) some wood boring beetle damage in the basement. One
load-bearing girder and the stairs leading into the basement need to
be replaced/treated.

that's the major stuff. we've asked the seller to address these
issues.. I'm just afraid of the fact that although we've fallen in
love with this home, the roof might be a serious problem and could
lead to us passing on the home.

I honestly don't know how much these various tasks will cost the
seller to fix. I'm guessing (I could be way off) but.. 10k for the
roof, 1.5k for the electrical (60 amp to 100 amp) and 1.5k for girder
to be jacked/replaced and new stairs. And this is to be performed by
licensed contractors, not by the seller's buddy handyman.

purchase price for home.. 154k. my 'estimated' cost for seller to
repair these issues: at least 13k. (could be much higher, I dunno)

need advice.


Do your home work, call your insurance man and ask what the premium will be,
you may be in for a shock.

Get contractors to bid on the repairs BEFORE you make an offer. Provide
their bids with your offer at the new reduced price.

Check with the local jurisdictional authority and ask questions before your
offer. You may be required to do more than what the inspector found.

Assume the owner understands all of this and then PRAY that they are
reasonable. I just purchased an newer home. One seller lowered the price 5K
then demanded the buyer pay all the closing costs. Doing the math it was
more than the original price. House is still vacant, going on 4 months now.
3 blocks from the home I bought. Really dumb in my opinion