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We're buying a house!

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        11-29-2013, 10:14 AM
      #11
    Trained
    Most important thing to remember is that a realtor is always working for the seller, not the buyer. Check out/research/verify everything that a realtor tells you yourself.
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        11-29-2013, 10:26 AM
      #12
    Weanling
    Quote:
    Originally Posted by PaintHorseMares    
    Most important thing to remember is that a realtor is always working for the seller, not the buyer. Check out/research/verify everything that a realtor tells you yourself.
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    Use your own realtor then. Here at least, you're not obligated to use the sellers realtor on your side of the transaction - you can get your own and they split the commission, and you can rest assured that YOUR realtor has your best interests at heart, not the sellers.
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        11-29-2013, 05:23 PM
      #13
    Trained
    Quote:
    Originally Posted by Oshawapilot    
    Use your own realtor then. Here at least, you're not obligated to use the sellers realtor on your side of the transaction - you can get your own and they split the commission, and you can rest assured that YOUR realtor has your best interests at heart, not the sellers.
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    You can certainly use your own realtor, and your realtor is obligated to operate in your best interests as your agent, but in general this only goes so far. For example, if you have a question about the seller's disclosures or that empty property next door to the property you are interested in, your realtor will relay your questions to the seller and give you the responses. They have no obligation to verify any of the information. Just like you hire an inspector to independently evaluate the house, it is your responsibility to check on zoning, planned development, etc that may be very important to your decision. It could be that someone is planning to put a lead battery recycling business in that empty lot next door...
         
        11-29-2013, 08:23 PM
      #14
    Yearling
    Congrats - I remember buying my first house - it was very exciting.

    There are so many things to consider:

    Neighborhood is everything - it's better to have the smallest/ugliest house in a great neighborhood then to have the nicest house in a crappy neighborhood.
    Definitely get an inspection done.
    Also, make sure your furniture will fit in the appropriate rooms unless of course you are also buying brand new furniture.
    Also, consider the outside space such as garden area, garage etc. Big garden means lots of upkeep. Small garage means only small cars or one large car will fit.
    If you have kids, then you may want to take school districts into consideration.
         
        11-29-2013, 08:54 PM
      #15
    Showing
    What are the taxes like on each place? When you view a place write down your likes and dislikes while you are in the house. Ask the agent about taxes. What type of furnace/heating system and how old. Unless the house hasn't been lived in yet, you need to call the fuel and electric company to get those costs. Older houses may not be as well insulated as the newer ones. Any furnace older than 7 years means the price needs to be negotiated down for a new one. It may last 10years or it may not as you don't know how well it was maintained.
         
        11-29-2013, 10:09 PM
      #16
    Green Broke
    Quote:
    Originally Posted by Oshawapilot    
    Use your own realtor then. Here at least, you're not obligated to use the sellers realtor on your side of the transaction - you can get your own and they split the commission, and you can rest assured that YOUR realtor has your best interests at heart, not the sellers.
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    Actually you can be assured they are working more for their own interest than yours. It's advantageous for them to get a quick sale than the best deal for you. Read Freakanomics and there's a pretty good explanation of why this is.
         
        11-29-2013, 10:28 PM
      #17
    Weanling
    Saddlebag brought up a good point with the taxes, as they will always be there and only go up.

    If you are looking at an older house check the foundation, roof, plumbing and electrical. What shape are they in? You don't want to buy the house and the next day plumbing/electrical brakes and you have to rewire/plumb the whole house. That gets pricey quick.

    Did you check the neighbors places? Do they look cared for? You want to be sure to pick a safe neighborhood. Do any kids live there (since you are thinking about having kids)?

    Are there any HOAs? If so, what are the dues? What are their restrictions? Are you ok with those restrictions?

    Don't get hung up on colors and fixtures, as those can easily replaced. You want to worry about te unseen things: structure, integrity, condition of vital components.

    How much are utilities? Are they comparable?

    For the older house, is it under a protected status (historical building,...) because that can affect what changes you can make, what materials you must use etc.

    Just a few things to ponder.
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