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Default 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?

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Default going to contract on Saturday - what should I look out for?

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?

We're in the process of purchasing our first home as well. Get an
inspection. Getaninspectiongetaninspectiongetaninspection. Attend the
inspection and follow the inspector around. Go over the report with him
and then call him if you have any questions after you take it home and
resd it a couple more times.

If there is anything that turns up a little funky at the inspection, get
an inspection and estimate by a specialist in that area before you
proceed, as you may want to ask the seller to accept a lower price or
give you back some money or have the problem fixed before closing. Make
sure there is enough time built into your contract to have a few
business days before response deadlines in case there are any special
issues you want to have looked at.

(Speaking from experience as someone who just today received the return
of earnest money and release from contract after waiting almost 3 weeks
waiting to get out of a contract on a home with a roof that was beyond
our financial abilities or interest in dealing with - poorly maintained
flat roof in a snowy climate - no thanks. I won't bore with the details,
unless anyone asks.) Anyway...

Your buyers agent (you do have one, don't you?) should guide you through
what is standard to put in the contract - things like curtain rods,
blinds, window coverings of any type are pretty standard, if there is a
pool then all the pool paraphernalia, appliances, our place is going to
include a huge picnic table and benched which I think were built in the
yard, stuff like that can all be added to the purchase offer. I'm also
interested in the dining table and chairs they have in hte eating area,
as they suit the space and our needs, but we decided not to make that
part of the contract and will do that privately. I would think if you
saw a dehumidifier set up in the basement, or a window air conditioner,
you could always ask for that kind of thing.

-Karen-
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Default 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.

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Default 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.

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Default 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


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Default going to contract on Saturday - what should I look out for?

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.


I
can't imagine they wouldn't remedy the problem if it existed since they
do have a young son.


Never make assumptions based things like that.

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Default 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.





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Default 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.


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Default 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


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Default 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


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Default 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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