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Alright friends, my wife and I have finally found a home that meets most of our criteria. We had to compromise on a few things, but we think it will be worth it.
The house is quite a bit smaller than what we wanted, but it comes with quite a bit more land than the others we were looking at. The house is a fixer upper and the land is mostly wooded, but we are getting a steal.
So please be praying and thinking about us over the next few days.
Thanks and have a good one.
Wishing to the best my friend,,,,, have fun ,, I know its exciting :)
Big positive step there.......And remember, land is more important than house, only so much of it...You can always build something else, or expand.
Congrtas and are keeping our fingers crossed for ya.
Yup, good luck on this next part of your life. There are advantages to fixer-uppers, you get to make it what you want, you add value.
Congratulations and good luck.
Outstanding Roar-k. Hope you got a place for a hammock or two and a place to do some cast iron cookin'.
Great news! We got do a walkthrough of the property to make sure everything was in it's place and how it was advertised, and we ended up with more land than what was initially said. It was listed as 1.77, but it's actually 17.7. It also has 3 sheds; 2 of them with power. One of them will be a great place to put canned goods and a freezer. And the bigger one has water as well and a wood stove.Quote:
Originally Posted by rebel
So far it's looking good and we are excited. Found an issue with the roof, but I can fix that. We have a small creek flowing through the front of the property and small area for a garden. Also, the people next to this lot raises chickens and has a huge garden as well.
Sounds like a great place. Remeber to take some pics after you close on it.
Sounds like the one shed is a bunk house. That could become a handy item to have.
Yeah, a whole lot better than a dog house. Bigger, too.
Hmmm, you seem to think I will end up there in the future don't you?Quote:
Originally Posted by Rick
You're married aren't you? By the way, I hope you have the house inspected before you close. No sense in getting any nasty surprises after your John Henry goes down.
Going to be doing that in the next few days as well. Everything is moving along smoothly.Quote:
Originally Posted by Rick
Good point. When you get a home inspector make sure they are properly credentialed, and just as importantly, properly insured. Tennesse does a better job than Florida of keeping track of them. http://tn.gov/commerce/boards/hic/index.shtml
Additionally, and equally important is the Wood-Destroying Insect Infestation Inspection.
Not sure about Tennessee law, but one or both may be required by lenders before they fork over the $$$. Your realtor may recommend some inspectors, but do your due diligence and make sure you are getting what YOU need, not what your realtor needs. I have seen it far too often - some realtors want inspectors that are not thorough so that they can get to the closing table quicker to receive their commission check.
And don't forget to acquire a CLUE report on the property. If an insurance claim has ever been made against the property due to water you may not be able to acquire insurance for it. Better to know up front.
https://personalreports.lexisnexis.c...le/landing.jsp
The existing owner may have to pull the report for you but I'd sure ask them to.
Wow what a decimal point blunder! Good luck and have fun!Quote:
Originally Posted by roar-k
Well the house failed inspection. There was quite a bit of mold found and the sellers had even tried to paint over some of it.
Looking for a house is starting to piss me off. I am tired of bidding wars and people trying to scam me out of my money. I will pay what it's worth, but when you sugar coat crap and try to sell it to me I get annoyed.
Sorry Man,,, that sucks,,Quote:
Originally Posted by roar-k
Well, if you really like it you can have them drop the price. I mean, if its a small house, its not hard to remove the mold, depending how bad it is. Me, I would use that as to negotiate the price down. I'm also a carpenter and can fix most anything in a house though.
That's certainly a point. If you do choose to negotiate make darn certain you get a Clue printout. Mold means water and if there has ever been a water claim made on the house (leak, flood, backup, etc) you may NOT be able to get insurance on it. Or you could wind up paying through the nose for insurance.
You hate to pay out good money to find out folks have scammed you but that inspection is worth not getting suckered. Don't look at it as a lost money. Look at it as cost avoidance.
Your house is out there, you just have to find it. Good luck and I'm sorry this one went south. Everything happens for a reason I believe. The next one may even be better.
Really, a backup or pipe causing water damage would really mess with insurance that much? I understand flooding, but the others are a bit absurd.
Anyways, I would put in another offer. I mean, why not? How extensive was the mold damage? Often its isolated, even if its the result of a leak in the roof, the water tends to follow the same path. Remove the drywall and toss. Any mold growing on the framing of the house can be sprayed with a bleach and water mix to kill it. Cabinets can be cleaned as well. Really, the only things that mold really can't be killed in well is the drywall and carpeting.
If the mold is very extensive, the sellers will have to remediate it before selling most likely. If you are handy and don't mind the challenge, you might be able to pick it up minus the cost of the remediation. You might need the pros to do the initial clean up for insurance's sake, but you can do all the repairs afterwards and save some cash. Its a good time to do any renovations you would want to do as well.
It doesn't even take an actual claim to hose you up. Let's say your kitchen sink leaks inside the cabinet. You find it a couple of days later and you figure you have some work to do. You call your insurance agent to verify your deductible and tell him why you're calling. You don't even have to file a claim for the agent to enter that information in the CLUE database. Four years later you try to sell the house but no insurance company is willing to insure it so buyers are backing away. Water = Mold and no company is willing to take the risk.
Here's a good article that goes into a lot more detail.
http://www.privacyrights.org/fs/fs26-CLUE.htm
The mold looks like it's trying to colonize the house and maybe one day turn into a creature. It's quite extensive and the amount of money it would take to do all the repairs necessary would cost more than the house is worth. Oh well, we will keep looking and see what else is out there. I will probably put in another offer, but just for the land and see what happens. I am not against building a house, just need the land to do it on.
Thanks friends.
Have an update for you all regarding my quest to find the house. Well, we have found it. God is good and that's all I have to say. We have been looking and looking and we have either been outbid, been late, or bad luck looking for houses, but that has changed. We have found an old cabin sitting on 2 acres that was handbuilt from the lumber cleared where the house is sitting. There's a small creek along the border of it and it has a 1/4 mile long drive way that has 3 other homes. There is also another 6 acres we might be able to purchase bordering the land the house sits on.
I visited today and it's sound. Only bad thing is the house sits right along the property line, I am talking 5 feet or less away. They have tried to purchase 25 feet back along the property line, but no luck. So far so good though.
That sounds like a nice place. If that does not work out you might go about it another way. Look for undeveloped land. Financing is always easy on that. You can often find houses that need to be moved very cheap and put it on the property. With so many upside down on thier morgage these days you want to add as much value as you can. I don't know the market in your area but you should check into the possibility. I would have suggested it sooner but just saw this thread.
Good luck. Hope it all works out.
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