Purchasing First Home

[roar-k]

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.

[Justin Case]

Wishing to the best my friend,,,,, have fun ,, I know its exciting

[hunter63]

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.

[Winnie]

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.

[crashdive123]

Congratulations and good luck.

[rebel]

Outstanding Roar-k. Hope you got a place for a hammock or two and a place to do some cast iron cookin'.

[roar-k]

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.

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.

[crashdive123]

Sounds like a great place. Remeber to take some pics after you close on it.

[rebel]

Sounds like the one shed is a bunk house. That could become a handy item to have.

[Rick]

Yeah, a whole lot better than a dog house. Bigger, too.

[roar-k]

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?

[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.

[roar-k]

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.

[crashdive123]

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.

[Rick]

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.

[1stimestar]

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.

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.

Wow what a decimal point blunder! Good luck and have fun!

[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.

[Justin Case]

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,,

[JPGreco]

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.

[Rick]

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.