House Buying Thread

[mac5155]

I'm helping my dad sell my grandmother's old house (which suffered water damage). Put a post up for investors on Facebook and got a few offers already after showing it to them. One solid one at $37k. It sucks to see my dad going through the house detailing every little item that my grandfather did to the house in his lifetime, only to see him defeated when the investor offers 1/3 of the original asking price (after the house suffered the water damage). At least the investor is nice, but I know damn well he DGAF.

[count2infinity]

Well, the inspection went surprisingly well. The things we were most worried about were fine. Structurally everything is good. Inspector recommended a few questions to ask the sellers and a home warranty, but beyond that he said the house is in fantastic shape.

[mac5155]

Next up, appraisal. Then you can relax. For a few weeks.

[count2infinity]

So we got the home inspection report back. Here are a summary list of items that were noted (spoilered because long):

SIDEWALKS The walking surface of the entry sidewalk is raised/settled. This may present a tripping hazard depending
on ones health and physical abilities. Review these areas prior to closing and be sure that inexpensive adjustments can
be made without replacement. Repair or replace as needed.

DECK Deterioration was noted to the top of the deck guardrails. Anticipate replacement of these pieces for stability and
safety.

EXTERIOR STEPS Loose step noted at the rear deck entry. Improper rise was noted at the deck step for safe travel. The
step rise is too high by today's Standards. Consider installing an additional step or replacing these steps for safety.

GUTTER DOWNSPOUTS Drain conduit line has settled at the right rear corner. Raise lines and make proper connection
so water will flow away from foundation.

AIR CONDITIONING The exterior central air refrigeration line insulation is in poor condition. Replace insulation as
needed for efficiency.
Keep exterior compressor unit level.
Outside air temperature was below 55 degrees. Unable to test system at this time. If the house is purchased in the winter
or if the inspection of the cooling system was made when the temperature was 55 degrees or less consider asking for a
home warranty program, to escrow funds for these areas or to extend the inspection contingency period until these items
can be fully inspected/tested.
Any maintenance or repairs to this system may constitute replacement of the entire A/C system due to changes in
refrigerant types pertaining to environmental guidelines now in place. R-22 refrigerant is no longer made. R-410A is the
more recent refrigerant type used and they cannot be mixed.

WINDOWS The seal of the insulated glass pane has failed at both panes of the master bathroom window and the pane
in the rear entry door, and formed a condensation fog between the panes. This seal can not be repaired and the whole
glass sash has to be replaced.

CEILINGS Stains noted at in the foyer closet, under the master shower drain. Unable to determine if active leakage still
exists. Make inquiry with the seller as to the history of leaks.

GARAGE DOOR Rot at the lower portion of exterior garage door jambs is generally caused by exposure to rainwater.
Moderate amounts of rot usually require partial replacement of doorframe and trim wood.

To the experts at 5AF... anything here a cause for concern? What would you recommend? Are any of these things that we should ask to be fixed or money toward fixing?

[robbiestoupe]

Windows and ceiling are two things that stand out. Maybe try to strike a deal on the windows and ask about the ceiling

[count2infinity]

Yeah, they knew about the window in the bathroom and are having it replaced. The other window of concerned is the back door. We can certainly ask for a replacement there, but it's not in a living space. It's in an unheated mudroom area attached to the garage. Door can be replaced pretty easily.

[NTP66]

Windows and ceiling are two things that stand out. Maybe try to strike a deal on the windows and ask about the ceiling

This. The AC being that old that it's R22 is a concern, as well. New systems aren't cheap, especially if you have to do any sort of duct work.

[count2infinity]

The ceiling, we're definitely going to be asking about. The master bath is directly above that ceiling area.

We turned on the shower (which is in the right spot for that to be the leak source) for a good 10 minutes, and then he used his moisture reader to see if there's any sort of moisture coming into the ceiling spot, but there was nothing detected. He said "nope... bone dry". But he cautioned that test doesn't mean a whole lot and we should still ask about it.

[NTP66]

Sidewalks can be expensive if you have to replace it, depending on how much of it is needed. If it's just one section between expansion joints, that's minor. If the hazard is small enough that you could simply fix it with a cement "ramp", even better.

[count2infinity]

Windows and ceiling are two things that stand out. Maybe try to strike a deal on the windows and ask about the ceiling

This. The AC being that old that it's R22 is a concern, as well. New systems aren't cheap, especially if you have to do any sort of duct work.

We're going to either ask for a home warranty or for a clause allowing him to come back and test the AC unit when the weather is appropriate (or both).

[NTP66]

The ceiling, we're definitely going to be asking about. The master bath is directly above that ceiling area.

We turned on the shower (which is in the right spot for that to be the leak source) for a good 10 minutes, and then he used his moisture reader to see if there's any sort of moisture coming into the ceiling spot, but there was nothing detected. He said "nope... bone dry". But he cautioned that test doesn't mean a whole lot and we should still ask about it.

I assume he used a moisture meter for that test? If there was an active leak, there's a good chance the drywall below it would register. The company we used for our insurance claim did the same test to verify that the leak was contained in the ceiling and didn't make its way to the wall.

[count2infinity]

Yeah. He had a moisture meter that had both a flat surface for detection, and then he popped off a little top part to it and it had two prongs that he stuck into the ceiling (I'm assuming doing some sort of conductivity test). Both came back completely dry.

[NTP66]

None of what you listed would be show stoppers for me, assuming that you had a stash of 'in case **** happens' money.

[count2infinity]

We do. At least enough to cover a couple "in case sh*t happens".

[mac5155]

Is the basement finished? The gutter/downspout thing can wreck a finished basement. Probably wouldn't be a bad idea to get that taken care of also. It could be as simple as a shovel, or as complex as $1000 to repipe.

[count2infinity]

Basement is partially finished. There's a 1/4" gap between where the gutter comes down from the ceiling and the pipe that's in the ground. It'll be a quick fix to just make sure the two are actually connected in some way.

[mac5155]

Ah, gotcha. If it was a slope-of-pipe issue, then yeah that could get expensive.

[mac5155]

Had a prospective buyer ask what the 'current high bid to beat' is before they submitted me an offer on the house.

So I told them low to mid 40Ks... (it's $37k).

What did she think I was going to tell her?

Frankly I just wanted to say 'what's your offer and I'll tell you' but... yeah. It's listed for $55 and they want $40, but are fully ready to unload it at $37. I just am trying to squeeze out a little extra.

[nocera]

I didn't think buyers were allowed to ask that.

[mac5155]

I'm not a realtor or using one. This is pure FSBO

[skullman80]

Interest rates are pretty damn low right now. We just did a pre-approval on a 30 year conventional and the interest rate came back at 3.375 percent. Not shabby.

[NTP66]

3.375 is not bad at all for a 30. I believe our 20 is 3.125.

[count2infinity]

3.375 for 30 is what we got as well. Our realtor said a few months someone got a 3.25 for 30.

[count2infinity]

Best way to refinish a deck if I want to be able to walk on it barefooted (it's wood) without getting splinters...

[NTP66]

Best way to refinish a deck if I want to be able to walk on it barefooted (it's wood) without getting splinters...

The only way, outside of replacing it, would be to sand it I would think. I know HD rents orbital sanders, and I can’t imagine it’d take you more than an afternoon to complete (minus railings, etc).