selbbub78 0 #1 July 22, 2009 I'm currently looking at the potential of buying my first (beer) house. I've looked at the place, but haven't contacted the relator yet. I'm trying to figure out what sort of information, details, questions, etc... I should have ready for the relator when I do schedule a showing of the place. Can anyone give me any ideas? Thanks, Bubbles "Women fake orgasms - men fake whole relationships" – Sharon Stone "The world is my dropzone" (wise crewdog quote) "The light dims, until full darkness pierces into the world."-KDM Quote Share this post Link to post Share on other sites
Remster 30 #2 July 22, 2009 - Price history of the house - Comps (comparable sales in the area in the last months) - How long as it been on the market - do a zillow.com search to get an idea of the market (but dont have blind trust in the numbers that comes up with) Are you going to contact the seller's realtor, or one you know? If you contact the realtor's seller, he/she will be representing both you and the seller, so although they SHOULD be impartial, it raises potential issues. I would use my own realtor.Remster Quote Share this post Link to post Share on other sites
selbbub78 0 #3 July 22, 2009 Well I was going to contact the house realtor just so I could look at the place. Should I be getting someone to represent me before I do that? I'm seriously so clueless on any of this stuff... CReW Skies, bubbles "Women fake orgasms - men fake whole relationships" – Sharon Stone "The world is my dropzone" (wise crewdog quote) "The light dims, until full darkness pierces into the world."-KDM Quote Share this post Link to post Share on other sites
GaVak 0 #4 July 22, 2009 Quote Well I was going to contact the house realtor just so I could look at the place. Should I be getting someone to represent me before I do that? I'm seriously so clueless on any of this stuff... CReW Skies, bubbles Buyer agents can mean more expensive closing costs. I would take a look first, then get advice online, etc. If you feel really out of water, then look at a buying agent. Most sellers will pay for or contribute to closing costs. In example: I just moved into my condo 3 months ago. By not having a buying agent I was able to get them to pay off my lease at my apartment complex. (1300 bucks). YMMV, it all depends on the place and what they are offering for it. I'm on my second home, so feel free to shoot me any quesitons you have. ~GavLife doesn't need reasons, just participants. D.S.#21 Quote Share this post Link to post Share on other sites
JohnDeere 0 #5 July 22, 2009 Yes you should get your own realitor! You need a good one at that. Take a look at www.daveramsey.com on the top right side it says ELP's. Click on realitors and get a know realitor in your area. They can help you with the whole process. Also you need to pay attention to the age of the house and reapairs that have been done (ex. a 10-15 year old house is about to be in need of maybe a new roof and a/c unit). Another big thing most dont pay attention to is the school district. Even if you dont have kids you should go for a good school district. Dont trust the home owner on how good the district is. The realitor should know though. The better the schools are the easyer it will be to sell latter and typically will meen less crime (also call the local police and ask about crime rate in the area of the house) . Also always get a home inspection from someone the realitor recomends. Also make the seller puchase a home warrenty for you (this is pretty standard these days). Plus make sure you get a smoking hot deal with the way the economy is! Just make sure no matter what you have money saved up for repairs that may come up, if you dont you may not own that house but it may own you. More latter. Nothing opens like a Deere! You ignorant fool! Checks are for workers! Quote Share this post Link to post Share on other sites
tigra 0 #6 July 22, 2009 Are you only looking at one place? I probably looked at over 100 during a 6 month period and put in offers on 2 before I bought the house I live in now. Seriously. I also had to replace my first realtor who was not helping me at all- missed a lot of opportunities to see places because she wouldn't make calls for me. A lot of listing agents won't give a potential buyer the time of day without another realtor involved. I don't know what state you are in, but where I live, the buyer's agent is normally paid out of the commission that the seller pays at closing. Things like closing cost credits? In my experience, they are not always worth it and you are usually better off negotiating a better purchase price. First, the credit is normally only good up to the amount of actual costs. If they offer a $10,000.00 credit but your costs are only $2,000.00, you lose $8,000.00. Also, many times, when a lender/ loan officer/mortgage broker sees the seller is paying a % of costs, that is their greenlight to charge more/ higher fees than they ordinarily would. Not saying always, but I have seen it happen .......... Just my thoughts. Look at more places, price similar homes in the area, do your homework. It IS a buyer's market right now, but still a huge investment. Quote Share this post Link to post Share on other sites
skymama 37 #7 July 22, 2009 How long it's been on the market is key, the seller might be more willing to bargain if they need to dump the house. Also ask for any known defects, how old is the roof, etc. If the roof is in the 15+ range, know that you'll probably have to replace it in a few years and that will cost a few thousand so consider that in what you can afford. I'd ask if the seller would pay closing costs, it never hurts to ask. Find out what schools it's zoned for, you should always look at a house for its resale value and not just your present needs. If the school zone sucks, a family with kids would never buy it from you in the future. If you really like the house, revisit the street in the evening when people are more apt to be home, you'll get a better feel for what the neighbors are like.She is Da Man, and you better not mess with Da Man, because she will lay some keepdown on you faster than, well, really fast. ~Billvon Quote Share this post Link to post Share on other sites
PLFXpert 0 #8 July 22, 2009 I concur with hiring your own realtor, but just for a go-see I would say calling the buyer's realtor is fine. I like open houses, or just seeing if the back door has been accidentally left open; they are less formal. Quote If you really like the house, revisit the street in the evening when people are more apt to be home, you'll get a better feel for what the neighbors are like. I have to second this. One thing I love to do is drive by after a hard storm, during the late evening, etc.Paint me in a corner, but my color comes back. Quote Share this post Link to post Share on other sites
tigra 0 #9 July 22, 2009 An open house is a great way to meet a realtor too. A lot of brokers will have their newer agents sit the open houses- that's one way for them to get leads and new clients. The listing agent doesn't necessarily want to spend an entire Saturday or Sunday handing out cards and flyers. Especially since at least half the people who walk through open houses are curious neighbors, not serious buyers. (Hey, I've done it. Its cool to see what 500K will buy, right? ) I agree about visiting the neighborhood at night, too. Quote Share this post Link to post Share on other sites
airtwardo 7 #10 July 23, 2009 QuoteHow long it's been on the market is key, the seller might be more willing to bargain if they need to dump the house. Also ask for any known defects, how old is the roof, etc. If the roof is in the 15+ range, know that you'll probably have to replace it in a few years and that will cost a few thousand so consider that in what you can afford. I'd ask if the seller would pay closing costs, it never hurts to ask. Find out what schools it's zoned for, you should always look at a house for its resale value and not just your present needs. If the school zone sucks, a family with kids would never buy it from you in the future. If you really like the house, revisit the street in the evening when people are more apt to be home, you'll get a better feel for what the neighbors are like. ...also request from the agent any & all prior inspection reports that may have been done. They often won't offer them up without you asking but (usually) by law you get to see any know reports. Sometimes it will save ya a bunch as far as getting your own inspector (you will do that eventually) and finding out something major that another potential buyer already found out about, and decided to walk. Always give the bare minimum earnest money, just in case. ~ If you choke a Smurf, what color does it turn? ~ Quote Share this post Link to post Share on other sites
comslayer 0 #11 July 23, 2009 things you should ask for documentation on - Property taxes any HOA dues (home owners association) Get an estimate of home owners insurance Is the property located in a Flood zone - insurance will cost more septic system ? drive through the neighbor at random times to see the level of activity...stop late at night and turn off the car and listen to how noisey/quite the place is. Quote Share this post Link to post Share on other sites
Andy9o8 2 #12 July 23, 2009 Good advice above. I'll add this: Once you've signed an agrement of sale, ALWAYS get a thorough home inspection by a certified home inspector (or an engineer) - who you (not the buyer) choose - prior to closing. Do not allow yourself to be persuaded to waive the home inspection. It can save you a world of grief. Quote Share this post Link to post Share on other sites
