What questions do you ask when you buy a house?

[JonT]

My wife and I are looking at buying a house together. I've owned 2 houses and frankly I haven't done much research on either one--walk in, look around, do a little research on pricing, make and offer--thats about it.

I want to make an informed decision this time and was wondering what questions do you guys ask and how much do you weight the response from the seller (agent or builder) to this critical question?

Thanks in advance.

[turbo6bar]

"Would you accept cash?"

I kid.

If facts are not labeled in disclosure, ask about age of major components (HVAC, roof).

Your best bet is finding a competent inspector or all-around handyguy-girl. They will be able to tell you a lot from a visual inspection (insulation, framing issues, water damage, condition of electrical, mechanical, and plumbing systems, etc). If you find systems are not up to par, you have leverage in negotiations.

As far as trusting the word of the seller, builder, agent, it's pretty simple: trust but verify.

Wish you best luck. jurgen

[The Gaijin]

Don't trust any answers. Hire a surveyor before you buy.

But an owner who has taken care of his home and wants to talk about it is a good thing.

#1 - how old is the roof?

#2 - any leaks??

[fingpilot]

One word.


Mold.

[Steve Viegas]

Get a home inspector. In CA they run a few hundred dollars. The real estate agent is required to inform you of any 'known' problems with the home. I am sure there are problems that are not 'known'. A home inspector should be able to estimate the longevity of any of the mechanicals and systems in the house as well as things that need repair immediately and things that may not be safe.

[Christien]

+infinity on a proper home inspection. Would you buy a $20K Porsche without a $150 PPI? Of course not. So why would anyone ever consider buying a $250K home without a $400 home inspection?

And even then, read the inspection thoroughly, and ask questions of the home inspector. He works for you, not the seller, so should be happy to explain any potential problems.

[vash]

"is this place haunted?"

[Rick Lee]

FWIW, when I bought my first house, I didn't know any better and used the inspector my realtor lined up. BIG MISTAKE. That cost me a good $5k and huge headaches later. Inspector and realtor were in cahoots and the inspector made no mention at all of the time-bomb polybutalene pipes, for which there was (at that time) still a large class action settlement comp. fund available. I should have known about that, but didn't learn of it until I had my first pipe burst. By then the deadline had passed and I was SOL. After the second burst turned my living room into a swamp (while I was overseas), I bit the bullet and ante'ed up to have the whole place repiped. Would have been a lot cheaper to find my own home inspector and pass on the house when he told me about the pipes. And those pipes are the first thing I look for even when just visting someone's basement or utility room now.

[stomachmonkey]

As mentioned. Home inspection. MANDATORY. Best money you will ever spend on a home.

In addition to saving you from a potential nightmare/money pit it's a valuable negotiation tool.

Good shot that they will find "something" that'll allow you to at least negotiate the price down to cover the inspection.

[id10t]

Is there a HOA? What schools are you zoned for? Broadband available? Any other restrictions?

[aigel]

A good home inspector is worth every penny. The way to get a good inspector is by working with a good buyer's agent which will have the right contacts. This of course is something that starts after the offer is in / accepted.

What you can do beyond the inspector is to check out the neighborhood. Go there in the evening, take a stroll on the street and see how many cars are in front of every home? Are there a lot? That means houses are being shared by many people - undesirable area. How old are the vehicles? 80s beaters? Not good ...

When you look at the house, check over the top of every fence to the next over neighbors. Make sure they are reasonably clean. Pass on the house for things like: Unkept dogs (will bark, their crap will attract flies and if you have a pet, it will get their fleas), dead cars, tall weeds, green swimming pool ...

I have turned down several homes because I did not like the neighbors. Remember that you will have to be next to these people during your valuable spare time. Also, other people will look over as well and a messy neighbor can seriously harm the home's value.

George

[Jim Richards]

If you don't come into the transaction with your own (buyer's) agent, all discussions you have with the seller's real estate agent should be treated as adversarial. That is, do not let that agent know what you're thinking, what your negotiating limits are, etc. It tips the balance in favor of the seller. Never, ever let an agent give you verbal counter-offers from the seller to consider. Once again, this favors the seller. If they do, tell them you won't even think about it unless it's in writing.

Find out about how old all major systems are, and factor that into your potential offer. Make sure your offer includes home inspection and appraisal contingency clauses. Interview property inspectors and pick one that seems competent, is licensed, and is insured. Find out how much it'll cost to repair/replace each item that the inspector flags. Make a request to the seller to address some/all of these flagged items to remove the home inspection contingency. Make sure they fix things using licensed contractor(s).

Look over the neighborhood, at different times of the day, and different days of the week to get a sense about how the neighborhood will be to live in. Talk to one or more of the neighbors.

Good luck on this and I hope all goes well!

[Heel n Toe]

I see you're in Omaha... it would be a good thing to find out whether the neighborhood is in a low-lying area that floods easily if the Missouri River overflows its banks.

[jhynesrockmtn]

I've owned many and my ex is a realtor, here is my list:

• Buy in the best neighborhood you can afford, the old addage, location, location, location is true, schools, access to shopping, parks nearby, etc. all help resale. Look around, are you buying in an area with a bunch of rentals, mixed zoning, what shape are the other houses in and how are their yards kept?
• Look at the type of structure, split level (no, stay away unless it's a budget issue), ranch, tri-level, construction era and materials used, my 50's house is in way better shape than the crap built around here in big developments 5-10 years ago. Newer is not necessarily better!
• Hire a real inspector, not one of those dip*&^%s realtors recommend that attended a quickie certification school to close the deal quick. Someone who's been a contractor, pick them yourself, interview them.
• Get the furnace inspected by a professional.
• What kind of wiring, copper pipes?.
• How old?
• If older consider having the sewer line scoped, if septic get it inspected and pumped. This crap is expensive.
• Go to the water meter with everything off in the house, is it spinning? How old is the water service line?
• Any yard issues, standing water, weird slopes or drainage problem?
• Roof - good shape or will it need replacement?
• Siding, what is it, shape, synthetic material, is it on any recall lists or should it be?
• Mold and moisture, make sure your inspector knows how to detect and looks for it. Is there a basement? Is it dry? Sump pump installed, if so why?
• Windows, what kind, how old?
• Insulation, up to snuff?
• Access to gas, broadband, cable, etc.
• Garage, big enough? Insulated, will it fit a Porsche?
• Neighbors and noise, go there at different times of the day, ask about who lives around there, consider introducing yourself. Living near a *&&hole with a big barking dog and teenagers having wild parties on the weekend will drive you crazy quickly.

This is a great time to buy and you are in command here, don't compromise on anything but also don't let a few things scare you away from an otherwise great house. If things come up you are better off getting bids and knocking the price down and getting the work done yourself, don't let the seller or their agent handle it.

[Rick Lee]

Originally Posted by Heel n Toe

I see you're in Omaha... it would be a good thing to find out whether the neighborhood is in a low-lying area that floods easily if the Missouri River overflows its banks.

No need to ask. The lender with verify this on their own and charge a fee for doing so.

[HardDrive]

My (partial) list.

1) Does the house have a fuel tank on the property? Has it been decommissioned properly? Do you have the paperwork to show this?

2) Have there ever been water problems in the basement since you have owned the home? How was the this remediated?

3) Does the house have any easements or restrictions on future building? Is there a HOA, and can the HOA prevent changes to the property? Is the house in a historic district?

......a contractor I have working at my house just showed up....more later....

[Heel n Toe]

Originally Posted by Rick Lee

No need to ask. The lender with verify this on their own and charge a fee for doing so.

Huh? Rick, why would a lender charge for this... and how much do they charge?

I assume you don't have to use this "service," and could just ask around the neighborhood.

[turbo6bar]

Only problem with inspectors is finding a competent one. Breach that hurdle and you're safe.

[HardDrive]

Like Jerry said, inquire about the sewer line. If their answer is "I don't know", GET IT SCOPED all the way to the street or the septic tank. It can be VERY expensive to get this sorted out. My sister ended up with a $10,000 repair only a few months after buying her house.

[Jim Richards]

Originally Posted by Heel n Toe

Huh? Rick, why would a lender charge for this... and how much do they charge?

I assume you don't have to use this "service," and could just ask around the neighborhood.

They look at the flood plain map. Of course, it could be out of date, or just plain wrong. IMO, don't count on the lender for this.