well, i might be getting a house
found an old house a couple miles from where i live now, and it looks like the price was dropped from the last time i found the listing. i am waiting to hear back from the realtor about it. there are a few things that worry me at the moment, but i havent seen the insides yet. the property is fairly cheap but i think that with some of the things i noticed on the house when i went to look at the outside this weekend, i might be able to talk them down quite a bit more.
aside from some of the concerns i have, i really like the property. the house was built in 1850 and there is a good amount of parking behind the house. it also has three out buildings, a garage looking building and two workshops. the other cool thing is that the next door neighbor is an archery club, lol.
i am trying to keep from getting emotionally vested in the property, in case the house isnt worth buying, but i am remaining optimistic. it will be nice to have room for all of my crap, lol. i also dig the idea of having the workshops and garage since i always have projects in the works.
at this point, it is still up in the air, but it looks like i might have some leverage in buying the house if it isnt a total waste of time. looks like the house has been on the market for a long time, nearly a year. also, it is out in the boonies and the house across the street was sold well below market value as well, so maybe i can get this one for a reasonable amount that will leave enough left over to fix up the place and sort out some projects.
so, i guess this is the part where i ask everyone else, have you looked into getting an old house? what should i look for? i know to look at the foundation, electrical and plumbing, anything else i need to keep an eye out for?
Ever watch a show called Holmes Inspection? Or Holmes on homes? I would suggest watching that show. That will point out a ton of helpful hints and just general knowledge about home repair.
Look up zillow, or just google the address and look at the tax records, see when it was sold last, and time in between ownership then up for sale again.
Septic tank, well, roof. A home being that old, check with your county to see if any new laws would make things in that home out of code. With a home that old Asbestos should be a concern too.
The metion of abestos brings up other ones:
Lead paint - is the paint "flaking" in large sections.
Single pane windows - yes you can live with them but depending on location this means storm windows in the winter.
Bathrooms - make sure the plumbing is done reasonably well and that it was not just cobbled in to get running water into the "water closet"
Make sure the house is not designated as a "heritage house". This might limit what you can do for renovations and such.
Hope it works out for you. :)
Offer Low, you can always go up. Have a Home Inspection done. Between that and the Bank appraiser you are in good position. It has to at least appraise for what you are borrowing, the bank wont loan you the money and that is you way out of the deal.
If the Roof needs a replacement its on the seller not the buyer, the bank will not loan you the money unless it passes the basics. Then you can work concessions with the Realtor.
If the deal sucks don't try and make it work walk away. If the realtor starts playing games then walk from them to. You want a Buyers agent BTW not sure how your state works so make sure they are working for you.
Another thing, do NOT get a home inspection done with someone the bank refers you to, or that the bank will handle it.
Get yourself a 3rd party home inspection.
thankfully, i have people i can get to help me out. one of my good friends is a licensed electrician and does damn good work (has done work on my mom's house, where i live now....) i know a few others that will be coming with me when i meet with the realtor. i know that there are things to look for that can absolutely kill a deal, bad foundation, structural issues, shag carpet, etc...
actually, from the couple of pictures i have seen, it has shag on the top floor, but the carpet is getting replaced by the seller, as per the listing description. i am going to push to get any issues fixed before i buy, i know that much at least, lol.
hopefully, i will get a call from the realtor that listed the place tomorrow.
maybe this will turn into my x-mas present this year, lol.
btw, here is the listing.
5548 ETZLER ROAD FREDERICK MD 21702, MLS # FR7772901, Keller Williams Realty
The home is on sloped land, water is going towards the foundation, I can only imagine the possible damage.
is it just me or is the house itself lopsided? or is that just bad camera work?
I think it's just the camera and bad angles. Then again, with it's age I wouldn't be surprised.
The would also inspect the flashing around the chimney.
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