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#1
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going to contract on Saturday - what should I look out for?
I'm the buyer, this is my first house, are there any things that you
regret you didn't ask or make sure was part of the contract? |
#2
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going to contract on Saturday - what should I look out for?
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#3
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going to contract on Saturday - what should I look out for?
If you are closing on Saturday it is too late. If you are signing the sales agreement on Sat., then that is different. If you want the electrical appliances, window treatments and anything else that is not permanently attached to the real property, then you must put it in writing. It is a good idea to make the sale contingent on a home inspection as well as your ability to get a loan....doesn't hurt to have an escape clause in case you find out that there is something undesirable about the house. I assume you have already checked out the neighborhood and know that you will be able to buy homeowner's insurance to cover it (here in FL that is not always the case) and can afford to pay for the insurance. |
#4
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going to contract on Saturday - what should I look out for?
Dottie wrote: If you are closing on Saturday it is too late. If you are signing the sales agreement on Sat., then that is different. If you want the electrical appliances, window treatments and anything else that is not permanently attached to the real property, then you must put it in writing. It is a good idea to make the sale contingent on a home inspection as well as your ability to get a loan....doesn't hurt to have an escape clause in case you find out that there is something undesirable about the house. Not just the ability to get a loan, but the type of loan and the maximum interest rate you'll accept, too. Otherwise, if your original financing falls through you may find yourself obligated to pursue a loan with less favorable terms. I assume you have already checked out the neighborhood and know that you will be able to buy homeowner's insurance to cover it (here in FL that is not always the case) and can afford to pay for the insurance. Make the sale contingent on getting insurance anyway, although I think most lenders (assuming you are borrowing) are going to require insurance anyways. |
#6
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going to contract on Saturday - what should I look out for?
vic wrote: wrote: I'm the buyer, this is my first house, are there any things that you regret you didn't ask or make sure was part of the contract? Don't sign the arbitration clause if you do you can't take them to court they will win you will lose every thing. go to ripoffreport.com punch in [ home place ] read them . then punch in [homes] you will see a lot of victim from diffent home builders make sure the home builder that is doing your house is not on the list of home builders. my email is; re; fraud so it don't go to spam if you need any help . who is building for you? Timothy |
#7
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going to contract on Saturday - what should I look out for?
it's an existing house and I'm reviewing the contract with a lawyer.
Thanks for the site though, I'll check it out. vic wrote: wrote: I'm the buyer, this is my first house, are there any things that you regret you didn't ask or make sure was part of the contract? Don't sign the arbitration clause if you do you can't take them to court they will win you will lose every thing. go to ripoffreport.com punch in [ home place ] read them . then punch in [homes] you will see a lot of victim from diffent home builders make sure the home builder that is doing your house is not on the list of home builders. my email is; re; fraud so it don't go to spam if you need any help . who is building for you? Timothy |
#8
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going to contract on Saturday - what should I look out for?
already did my inspection. The inspector gave it a very good report.
The only thing I worry about are the things he cannot see. The pipes inside the walls, mold? Also the owners said they did a radon inspection when they bought the house in 2002 and said it passed but they don't have the paper work. Should I insist on an inspection? I can't imagine they wouldn't remedy the problem if it existed since they do have a young son. MDT at Paragon Home Inspections, LLC wrote: From my prespective: don't let yourself get emotionally comitted to purchase before the inspection. One of the scarier experiences for a Home Inspector is the occasional situtation where first-time buyers' eyes glaze over when you explain a major defect - say that water the leaking from the toilet and under the floor tiles has rotted out the entire floor structure blow - and then start measuring the widows for drapes. Fine if they understand what they are getting into and they are making an informed decsion - definitely NOT good if they don't and are not. Fortunately in my area such houses are the exception - perhaps one house in 25 or 30 has a defect (other than a near-end-of-life roof, which can usually wait a year or two) which will require big-dollar repair in the near future, and even then in a market where the seller his usually experienced a lot of appreciation, and the average home sells for around 300K, it seems to be the case that even a 5 or 10K problem is usually a situation where the buyer and seller are able to work things out. But - especially if you are a first time buyer with limited cash - IMO it's vital to listen carefully to what the inspector says and reports. And then ask questions - and keep asking questions if there are things you don't understand - until you are completely satisfied that you do understand the possible implications of any major problems - no matter how much you love the house. Michael Thomas Paragon Home Inspection, LLC Chicago, IL mdtATparagoninspectsDOTcom 847-475-5668 |
#9
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going to contract on Saturday - what should I look out for?
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#10
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Radon Testing going to contract on Saturday - what should I look outfor?
wall st journal radon radon.biz
Joe Hiller wrote: wrote: already did my inspection. The inspector gave it a very good report. The only thing I worry about are the things he cannot see. The pipes inside the walls, mold? Also the owners said they did a radon inspection when they bought the house in 2002 and said it passed but they don't have the paper work. Should I insist on an inspection? Sure a radon test would be a good idea and a short term test doesn't cost too much www.radon.biz is one example. Couple of caveats: The short term (a few days) is not as accurate as a long term test (several months). The test sample must be opened and closed exactly according to the directions, the times of opening and closing accurate logged, and the temperature recorded. The sample needs to be mailed back as soon as possible after closing, so if you close it during the morning before the mail goes out, that is ideal. Finally, if the test is not done by you (likely you will not be there and the owner will) you need to understand that the ideally the testing is done with doors and windows closed and minimal entering/exiting the house. If someone really wanted to ensure that a test passed, all they would need to do would be to keep windows open near the sample, or just move the sample. Samples should be taken on each level, including where you sleep. Excellent Wall Street Journal article on radon testing, with reviews of various test laboratories: http://www.safetyissues.com/magazine...4/hm_Radon.htm 4.0 or more pCi/L is considered to indicate need for remediation. Higher than 2.0 pCi/L may require a closer look. Of course these are just somewhat arbitrary numbers and true health effects can vary considerably from person to person. Depending on your state laws, it is possible that radon testers may be required to forward your results to your state government. Also, if you are in New Jersey, state laws there make radon testing much more expensive than in other states, so expect much higher prices. |
#11
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Radon Testing going to contract on Saturday - what should I look out for?
I'm in CT. I already signed the contract. Am I screwed or can I amend
it after the fact to include a Radon test contingency? Joe Hiller wrote: wall st journal radon radon.biz Joe Hiller wrote: wrote: already did my inspection. The inspector gave it a very good report. The only thing I worry about are the things he cannot see. The pipes inside the walls, mold? Also the owners said they did a radon inspection when they bought the house in 2002 and said it passed but they don't have the paper work. Should I insist on an inspection? Sure a radon test would be a good idea and a short term test doesn't cost too much www.radon.biz is one example. Couple of caveats: The short term (a few days) is not as accurate as a long term test (several months). The test sample must be opened and closed exactly according to the directions, the times of opening and closing accurate logged, and the temperature recorded. The sample needs to be mailed back as soon as possible after closing, so if you close it during the morning before the mail goes out, that is ideal. Finally, if the test is not done by you (likely you will not be there and the owner will) you need to understand that the ideally the testing is done with doors and windows closed and minimal entering/exiting the house. If someone really wanted to ensure that a test passed, all they would need to do would be to keep windows open near the sample, or just move the sample. Samples should be taken on each level, including where you sleep. Excellent Wall Street Journal article on radon testing, with reviews of various test laboratories: http://www.safetyissues.com/magazine...4/hm_Radon.htm 4.0 or more pCi/L is considered to indicate need for remediation. Higher than 2.0 pCi/L may require a closer look. Of course these are just somewhat arbitrary numbers and true health effects can vary considerably from person to person. Depending on your state laws, it is possible that radon testers may be required to forward your results to your state government. Also, if you are in New Jersey, state laws there make radon testing much more expensive than in other states, so expect much higher prices. |
#12
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Radon Testing going to contract on Saturday - what should I look out for?
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#13
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Radon Testing going to contract on Saturday - what should I look out for?
In NJ radon testing is part of the home inspection contingency most
contracts have. Level too high walk away. Banty wrote: In article . com, says... I'm in CT. I already signed the contract. Am I screwed or can I amend it after the fact to include a Radon test contingency? At worst, you're 'screwed' out of maybe a couple of thousand for a mitigation system. Against the rest of your costs, this is a nit. Banty -- |
#14
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Radon Testing going to contract on Saturday - what should I look out for?
If seller wont fix an expensive item I'd walk away. Itsat least $1000
to fix radon. The house I bought had asbestos on pipes. Ifseller wouldnt fix I'd have walked. This is a buyers market now so why settle for anything. Banty wrote: In article .com, says... In NJ radon testing is part of the home inspection contingency most contracts have. Level too high walk away. "Walk away"? Maybe. Or maybe not. Depends on the level, and costs of mitigation. Like anything else. Banty -- |
#15
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Radon Testing going to contract on Saturday - what should I look out for?
On 23 Jul 2006 22:39:36 -0700, someone wrote:
I'm in CT. I already signed the contract. Am I screwed or can I amend it after the fact to include a Radon test contingency? Contract is a contract. Why should they let you amend it, what is in it for them? Are radon tests even customary in your area? The whole thing was a little late to be asking for advise - the time to ask what to put in the contract is before you go look at the first house. And the person to ask is YOUR LAWYER. Reply to NG only - this e.mail address goes to a kill file. |
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