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QuarkJets posted:1) Water and electrical are both turned off right now, what needs to happen to get these turned on? 1) That's a great question for your agent, inspector, or the local electrical and water companies who would have to turn them on for a day. That's a local question. Call them. If they can't turn them on for a day your inspector may be able to hook up a generator, if they have one, to check electrical. 2) An inspector is only going to see things that aren't covered by drywall. You could have a plumber put a camera down the drain pipes if you're really worried. I'd suggest you work with a buyer's agent familiar with foreclosures, these are the kind of questions they can help you with. They would know who to contact locally for these things.
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Jul 28, 2014 13:30
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Zhentar posted:Do it if they don't already have an active mitigation system. It's not really a proper radon test (which takes place over at least a month, IIRC), and the sellers can cheat it a bit, but on the other hand it's not very expensive, and if it does come up high, it's easy to get the sellers to pay the couple thousand to get an active system installed (once you tell them about your test results they'd have to disclose it to any other buyers). We had a radon inspection done and it came back 11.8 (supposed to be below 4, ideally below 2.) This ended up with the seller putting in a mitigation system that got it below 4 at no cost to us. Cost the seller about $800 or something along those lines. Seeing as we're turning the basement into a theater/rec room, I'm quite happy we opted to do it.
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Jul 28, 2014 14:16
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Propagandalf posted:Are there any websites that index and compare city/county incidental fees? The tax rates and estimates are easy to find, but I'm interested in how much the city (Omaha, NE) is going to try to gently caress me if I move into the city limits from renting in the suburbs in the next county over. I don't know a web site but I just closed on a house in Omaha last week. Once I get a bill I could give you an estimate for my part of town at least. Where are you now?
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Jul 28, 2014 15:25
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powderific posted:I don't know a web site but I just closed on a house in Omaha last week. Once I get a bill I could give you an estimate for my part of town at least. Where are you now? Thanks, I'm in Bellevue.
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Jul 29, 2014 06:23
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Propagandalf posted:Are there any websites that index and compare city/county incidental fees? The tax rates and estimates are easy to find, but I'm interested in how much the city (Omaha, NE) is going to try to gently caress me if I move into the city limits from renting in the suburbs in the next county over. That should all be public record and listed on your county's tax accessor website. Here's the one I pulled for Douglas County that I think covers Omaha. It will tell you property tax rate and any incidental charges. http://douglascone.wgxtreme.com Specific search page: http://webapps.dotcomm.org:8080/TreasTax/faces/pages/search.jsp Picking a random house I see a 2.1% levy for other fees.
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Jul 29, 2014 16:37
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Ahh, so there is a house buying thread. I'm in the process of purchasing my first place and I've been renting for the last 8 years so this should be a nice change. At the inspection, my inspector recommended that the furnace be looked at by a professional because there was a slight orange tinge to the flame, and he also recommended the water heater because it was thumping. The sellers finally got someone out to check them and they found a cracked heat exchanger in the furnace (and the report which was forwarded to me says on it '...unsafe levels [of CO2] to operate') Now, they came back and said they can repair or replace but the cost of replacing would be on me (would raise the sale price of the house) because of the increased value of the property, or they would pay 1/2 of the repair cost. I countered with me paying half of replacement and currently waiting to hear back. Is this fair? I mean, I see their side where they want to move out and don't want to put money into it but from my side, a house that has a broken furnace is not cool. :| edit: this is going to be a townhome in a nice area.. so feel free to regal me with stories of horrible HOAs and townhomes Danith fucked around with this message at 20:07 on Jul 29, 2014 |
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Jul 29, 2014 20:03
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Is the furnace super-old or something? Because I imagine repairing it is gonna be maybe a few hundred bucks at most, whereas replacing it will be thousands. If the furnace is otherwise in good condition it's not reasonable to expect the sellers to replace it just because a part broke.
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Jul 29, 2014 20:06
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It's the original furnace which was installed in 1998 I believe. From the email, the inspector recommended it being completely replaced (...didn't complete a full tune-up/cleaning due to the condition of the water heater and furnace). Other people I talk to recommend just getting it replaced. Would be an addition 3400 for new furnace/waterheater according to them or 1700 to just repair.
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Jul 29, 2014 20:10
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You've got 2 things in the house already that haven't been kept up very well and need fixing/replacing. Water heaters are about $1000 for electric and only last about 8-10 years if you have hard water, so that would need replacing too most likely. If the furnace is older than 15-18 years, I'd ask for a replacement. And I wouldn't offer to pay a dime, that's on the seller. VVVV That's a much better point. Ask for cash back and get someone qualified to replace it. Spermy Smurf fucked around with this message at 21:43 on Jul 29, 2014 |
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Jul 29, 2014 20:13
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At 16 years old, it's through much more than half of its expected service life. I wouldn't pay half of the price of a new unit for a repair (particularly considering that a new unit is likely to be significantly more efficient). I wouldn't ask for the seller to replace it though. I'd ask for a closing credit from the seller (or a reduction in sale price). Asking someone to pay for a furnace they're never going to use is liable to get you the shittiest model available, poorly installed by a shady contractor. Regarding the "fairness": Up until this point, all negotiations by both parties have been made with the belief that a functioning (but not necessarily good) furnace is included in the sale. This has turned out be incorrect, with a predicted cost of $1700. From your perspective, asking the seller to contribute $1700 compensates for the revealed change in value, bringing it back in balance with what you negotiated (although it doesn't take into consideration to changes in perceived risk you may have from the discovery).
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Jul 29, 2014 20:52
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Unfortunately we already made the offer of 1/2 and awaiting a response. They believed they could increase the price because of the activity they had on the place before we started the process (and looking around it does seem that places around there are being snatched up). Oh well, will see what they say and deal with it from there. Thanks for the info
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Jul 29, 2014 20:55
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Yeah I agree with the others, $1700 is more than I was picturing to replace a broken part. It's weird to me that that furnace is already done. I guess not surprising, but disappointing. I'm not even sure how old my furnace is. It's a Payne 80036-19A, Series 323, but I can't find a manufacturing or installation date on the panel. Based on how old everything looks I'd guess it's like 1980s or earlier, possibly more like 1970s, and given the house is from 1958 it could possible even be that old? It seems to work perfectly.
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Jul 30, 2014 01:10
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You can figure out the age of your furnace from the serial number: http://www.buildingcenter.org/Payne
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Jul 30, 2014 03:20
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Spermy Smurf posted:Water heaters are about $1000 for electric and only last about 8-10 years if you have hard water, so that would need replacing too most likely. I'd like to counter this price. I've spent my whole life in fear of plumbing and this past weekend just replaced a hot water heater myself (with the help of my wife to help lift the new unit into the basement because I was paranoid of dropping it) There is now a product line called shark which replaces the need to solder copper pipe. Sure they're $12 a joint, but it's a lot cheaper than a plumber. All in I spent $500. I bought a bunch of extra shark connections and haven't returned them yet, so it's probably close to $475. Total time was 2 hours and that includes the trip to Home Depot to buy the first heater, and then exchange it when I noticed a large dent on the side. I am not handy at all and having a plumber charge you 1200 to replace (the quote I got) is Highway robbery. Considering most plumbers will sell you a hw heater for $750 that you get at HD for $450. I am not handy at all.
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Jul 30, 2014 04:32
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Leperflesh posted:Yeah I agree with the others, $1700 is more than I was picturing to replace a broken part. Well, based on the condition of the filter, the inspector said he doesn't think it's been changed at least since the sellers had the house (only 1 year but still, it should have been replaced every month). I was thinking about doing it myself but 1, I guess I might need a working furnace to get my FHA loan and 2, it's a gas furnace and I don't want to chance getting something not hooked up right and blowing myself up or filling the house with gas  edit: water heater is also gas so same issue as above
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Jul 30, 2014 04:47
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Welp, after 10 months of being in escrow between a short sale and then an REO, the landed gentry can now count me among their ranks. My first order of business will be finding the drug stash of whomever thought this was a good idea:  The second order will involve a sledgehammer and lots of sheetrock dust. I've got a lot of bad ideas and poor implementation to correct, but I'm looking forward to it.
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Jul 30, 2014 05:59
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krysmopompas posted:My first order of business will be finding the drug stash of whomever thought this was a good idea: Looks like an asbestos fume hood for a gas stove top. Not quite as expensive as crystal meth, but pretty close.
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Jul 30, 2014 06:17
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Danith posted:Well, based on the condition of the filter, the inspector said he doesn't think it's been changed at least since the sellers had the house (only 1 year but still, it should have been replaced every month). Ahahaha who told you to change a furnace filter monthly? Was it someone who sells furnace filters? I change mine annually and that puts me way, way ahead of the average homeowner (who changes their filter approximately "never"). Zhentar posted:You can figure out the age of your furnace from the serial number: http://www.buildingcenter.org/Payne Excellent, thanks! The foil sticker with my serial number is damaged in the critical fourth digit but it looks like mine was made in the 28th week of 197x, where x might be a seven or possibly a five or two. Still trucking just fine after 30 to 40 years. Nice.
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Jul 30, 2014 06:26
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Leperflesh posted:Ahahaha who told you to change a furnace filter monthly? Was it someone who sells furnace filters? Here in the desert "they" recommend changing it every quarter because of how sandy and dusty it is here. They = the ac repair guys who have fixed our unit twice.
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Jul 30, 2014 06:36
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Same in the northeast, but mostly because we're bad at dusting and my wife has allergies.
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Jul 30, 2014 15:01
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Ours look pretty bad after 3 months so I go with that. They would be disgusting after a year. Probably depends on the environment though, especially pets.
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Jul 30, 2014 15:40
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Filter chat: I change mine every 30 days with a cheap fiberglass filter. The HVAC guys I know don't recommend the fancy filters at all. They usually end up doing more harm than good in the long run.
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Jul 30, 2014 15:43
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Home inspection done, no "HOLY gently caress RUN" issues at all. A few things that need to be done, hopefully the sellers will be apt to negotiate since they have found a house already.
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Jul 30, 2014 18:09
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I change my furnace filter quarterly with the cheapest one I can buy. They come out looking nearly new, but <$20/year is worth it.
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Jul 31, 2014 00:14
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My wife and I were looking at a house and considering putting in an offer. Its listed at $130K and our max budget is about $140K. The house looks like it sold for $125K back in 2012 and homes in the area are listed at around $125K for comparable houses, but don't need the replacements that this one does. The house is in pretty good shape, is only about 25 years old. The fence in the back yard needs replaced, and is currently being held in with tie-downs and rocks in the post holes. We need/want to replace all of the carpet in the home and the AC unit is the original from 1990. The seller is apparently going through a divorce and wants to off-load the property, though she does currently have tenants in there right now. Should I go in at about $125K? I really want to offer something like $117K since we're going to be swallowing a lot of costs immediately that NEED to be taken care of, like the fence and possibly the AC unit. With the $117K and splitting the closing costs a total offer of $121k Looks to be what we're seeing. Am I asking too much?
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Jul 31, 2014 04:48
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Your realtor can give you better advice based on your local market but no that's not unreasonable. Your 117 offer isn't unreasonable if it does need that much work
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Jul 31, 2014 04:58
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Jastiger posted:My wife and I were looking at a house and considering putting in an offer. Its listed at $130K and our max budget is about $140K. The house looks like it sold for $125K back in 2012 and homes in the area are listed at around $125K for comparable houses, but don't need the replacements that this one does. The house is in pretty good shape, is only about 25 years old. The fence in the back yard needs replaced, and is currently being held in with tie-downs and rocks in the post holes. We need/want to replace all of the carpet in the home and the AC unit is the original from 1990. The seller is apparently going through a divorce and wants to off-load the property, though she does currently have tenants in there right now. How long has it been on the market and what is the local market like?
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Jul 31, 2014 04:58
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PCjr sidecar posted:How long has it been on the market and what is the local market like? Its been for sale, I think for about 30 days. Its showing 39 on Zillow.com The local comparative places are either the same, or lower and most don't require new fences or have original AC units. The carpet isn't really destroyed, its just obviously the original. They had pets and I have a 1 year old, so I want to start that fresh.
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Jul 31, 2014 05:39
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Jastiger posted:Its been for sale, I think for about 30 days. Its showing 39 on Zillow.com Unless something has radically changed about your situation and you can afford 20% down, don't buy right now.
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Jul 31, 2014 05:46
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Engineer Lenk posted:Unless something has radically changed about your situation and you can afford 20% down, don't buy right now. Why not?
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Jul 31, 2014 13:01
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Jastiger posted:Why not? You'll be throwing money away anyways on extra closing costs, higher interest rate, PMI, etc. Better to not have to stack repairs on top of that. All those numbers lower or go away with 20% down. Or so is my opinion.
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Jul 31, 2014 15:07
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shortspecialbus posted:You'll be throwing money away anyways on extra closing costs, higher interest rate, PMI, etc. Better to not have to stack repairs on top of that. All those numbers lower or go away with 20% down. What kind of extra closing costs? I got a pre approval at about 3.7% at $135,000. I didn't want to max that out, and it looks like I'm not going to. Is that a good rate? I'm getting a VA loan, so no PMI required (or down, but I"m putting money down). We've budgeted it out a bit and our current monthly expenses for living are at about $1300 with utilities, rent, and insurance. A loan at about $118K will have a total payment with insurance, taxes, and utilities about $850. That gives us a lot of wiggle room on the monthly expenses while also building equity into a home.
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Jul 31, 2014 16:12
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Jastiger posted:We've budgeted it out a bit and our current monthly expenses for living are at about $1300 with utilities, rent, and insurance. As a wise someone once told me in this very thread, your "total payment" with insurance, taxes, and utilities are effectively a lower bound while renting, since you can always call your landlord/complex to fix things like broken pipes, washer/dryers, AC, fridge, etc. That total payment for a home does not factor in: higher water/trash/electric service cost, maintenance cost, purchase of items you may not already have (I've already bought a lawnmower, about $120 worth of paint, furniture, etc.) but need to furnish and keep up your home, etc. Just be careful. I am fortunate in that I have around a $25,000 nest egg between myself and my girlfriend at the moment to account for those things, but just keep one word in mind when it comes to estimating your monthly expenses in a home instead of a rental situation: more. Everything costs more. Everything. Is it worth it? Absolutely. Just be prepared.
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Jul 31, 2014 17:12
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Jastiger posted:Why not? This is what I remember of your situation: You're a single-income family of three with two adults and a toddler. That single income is base salary + commission, and the base salary is low. This job is fairly new (~1 year old or less), as is the area you moved to. You were living paycheck-to-paycheck less than six months ago. You and your wife aren't always on the same page about finances. These are my assumptions: You don't have a six-month emergency fund. You don't have 20% down. Rather than think about the best-case scenario (building equity!), you need to play defense for a while. Get your financial reserves up so that you're not a leaky roof away from insolvency.
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Jul 31, 2014 17:53
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Man I loving hate the term "building equity". I've Let's see... in the last 53 months I've paid about 70,000 dollars in mortgage payments. Of that 70,000 dollars, about 17,000 has gone to property taxes (no equity there folks), 42,000 has gone to interest payments and mortgage insurance payments (nope, still no equity), and the remaining 11,000 dollars has gone to principal reduction (ok a little equity). My house in the current market is worth about what I paid for it. 160,000 dollars. Throw in 6% realtor fees to sell (9600 dollars), 2% closing cost help to the seller (3200, the market will pretty much demand this), and another 1% (1600) to get the place ready to sell (paint touch up, etc), and I have to bring cash to the even assuming I get a full price offer. That doesn't even count the money I put into the transaction when I bought the place. poo poo where did all my equity go? Oh, it went towards the cost of disposing of my supposed 'investment'. For a 5 year horizon I would have been much better off renting a house in my neighborhood, even if it would have cost me 100 dollars more a month than my mortgage payment. My housing market never really had a crash, but it hasn't appreciated at all either. Don't get me wrong, I love my house, and I enjoy living in a house. I much rather be here than in an apartment, but that whole building equity line of poo poo just makes me see red.
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Jul 31, 2014 18:12
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a shameful boehner posted:As a wise someone once told me in this very thread, your "total payment" with insurance, taxes, and utilities are effectively a lower bound while renting, since you can always call your landlord/complex to fix things like broken pipes, washer/dryers, AC, fridge, etc. Yeah I am absolutely prepared for that. I was looking at what we pay to rent right now and adding $300 to it a month for "extras". We are paying about $1200 a month in rent, and the mortgage with taxes and insurance is about $850 or so. Add on another $300 a month for "miscellaneous" and I think we're looking good as far as accounting for extra "everything". We're lucky in that we have accrued a lot of the stuff for home maintenance already like lawnmowers, appliances, and stuff like that. Engineer Lenk posted:This is what I remember of your situation: We're a dual-income family now ^_^! Base salary is the only thing used to calculate my mortgage amount and interest rate, and we are going in well under that. We moved back home as opposed to being far away. So while yes, its new for the move, we're not floating out here with no support. We were living pay check to pay check since I was receiving absolutely no commission and our expenses had increased due t the move. We're consistently putting more money into our savings at this point. We're on the same page with finances now, much of it due to help on this very forum
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Jul 31, 2014 18:21
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skipdogg posted:Man I loving hate the term "building equity". I've Wow. I'll take my trailer with homestead exemption. $75k in value is tax exempt here so I pay 0 tax.
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Jul 31, 2014 19:13
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To be fair I live in Texas where this is no state income tax, but we do pay higher property taxes to compensate.
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Jul 31, 2014 21:12
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I just want to chime in and say I hate all you people that don't need to have flood insurance. I wish my monthly escrow was sub $500
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Jul 31, 2014 23:17
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You could just not buy a house in a flood plain? I mean I bought a house in an earthquake zone, and so I buy earthquake insurance, but I'm not jealous of people who don't have to buy earthquake insurance because they decided it was a good idea to not buy a house next to a fault line.
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Jul 31, 2014 23:21
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