I'm buying my first house Advise?

So I'm buying my first house. We have a contract an my house inspector checked it out yesterday I'm very nervous
Any advice

I am not an expert in real estate and will bow to other posters. My recommendation, carry her over the threshold and enjoy. If you are not married, carry every one of your visitors over the doorway and enjoy. Regardless, every home will have sweet memories when we are in the nursing home. Congrats.

Whatever you do, don't skimp on an inspector, and the most important, have the sewer line inspected if it uses a municipal sewer. Also, don't buy ANYTHING until you walk out of the closing with the keys in your hand. A classic rookie mistake is to buy a bunch of furniture and other crap, and use a credit card for it. They will literally check your credit rating while you are at the table getting ready to sign the closing papers.

I always try to have a lawyer on my side checkin' out the paperwork and knowing where to look if there are any encumbrances on the house and property. Cheap insurance for you.

Good move on the house inspector. He can check for things like asbestos insulation, crappy, very old or aluminum electrical wiring (and electrical panel), decent plumbing, rot in foundations, mold (grow op can cause this) bad roofing, exterior drainage, etc. Make sure he is licensed and insured.

Yah, and make sure you can afford it!!

But, as others have said, once you own it you can have tons of fun there and make some good memories!! When you own it, the only rules are your own!!

Jon.

Congratulations on your purchase. You've already done the very first thing that I would have recommended by hiring your own independent inspector. I made the mistake on my first house of using the inspector that the realtor used and recommended. That was $300 for nothing, many things that should have been fixed were conveniently "missed" by the inspector. When I bought my current house, I brought in my own guy and got results.

Other than that, just make sure the house will fit your needs, not only now, but in 5 years, 10, as long as you plan to stay there. I lived in my first house for nine years, and we had outgrown it several years before that.

Around here they wanted $800 for a inspection. I did my own on both houses I have bought and never regretted it. Like said previously, make sure you have the money for it. I spent over 40k renovating a house last year, it gets expensive quick.

make sure you have a BUYERS agent...ie a real estate person working for you...use all your own inspectors where they are looking out for you.....I can help you with anything else in PM....

I hold a real estate brokers license in the state of Georgia.

Charles

Do an inspection yourself. Inspectors dont always know everything or miss things.
I always make sure the basement doesnt leak and i go up into the attic to check for evidence of leaks their too.
Always check flood plain maps to see if the house is in a floodplain. Dont buy if it is.

make sure it has a huge garage or outbuilding for all your scrap lol

Originally Posted by webuyselltradestuff

make sure you have a BUYERS agent...ie a real estate person working for you...use all your own inspectors where they are looking out for you.....I can help you with anything else in PM....

I hold a real estate brokers license in the state of Georgia.

Charles

That sounds like a real estate broker. You don't need a real estate broker/agent, YOU NEED AN ATTORNEY. This is the largest purchase most people make. To not pay 200.00-300.00 to a real estate attorney, in order to have him read the contract is just insanity. Talk about penny wise pound foolish. These real estate brokers/agents are ONLY concerned with getting a deal done so they get their commission. Despite all their talk, they really can't help you with anything. If you haven't done so, have an attorney look over the paperwork PRIOR to closing so he can help protect you.

If you're in the city limits, visit the Building Inspection Dept. There should be inspection records that are accessible, and you may learn a lot. If the home is new construction, ask the inspector about the builder. Also check with Planning and Zoning Dept. while you're there. Find out what may be built next door to you. Especially if there are vacant lots. You don't want a bad neighbor, ie; big box retail, munitions factory, etc. Don't laugh. It happens. Somebody mentioned flood plain. Also check for easements, drainage issues and so forth. These are just a few of the things I would check before I sign on the dotted line. Oh, one other thing. If you can get the mineral rights, it may pay off. Big deal here in Texas. Best of luck to you. I know it's a big step.-OFAR

Originally Posted by Phantoms001

That sounds like a real estate broker. You don't need a real estate broker/agent, YOU NEED AN ATTORNEY. This is the largest purchase most people make. To not pay 200.00-300.00 to a real estate attorney, in order to have him read the contract is just insanity. Talk about penny wise pound foolish. These real estate brokers/agents are ONLY concerned with getting a deal done so they get their commission. Despite all their talk, they really can't help you with anything. If you haven't done so, have an attorney look over the paperwork PRIOR to closing so he can help protect you.

That is BULL****...and I take offense to it. I have NEVER sold anyone something they could not afford. It all depends on the state you are in...you NEED a broker to NEGOTIATE the contract and tell you what to look for. I don't care what house you buy, but I **** sure will help let you know when something is crap. The attorney (DEPENDING on the state) will work for either you, the seller, or the BANK...you need to know which. I don't know the state so I can't advise. Oh and BTW and decent real estate attorney will run you $500-1000 depending on the state.

Sorry but your dismissal of my very helpful comment is offensive there Phantom....

Two toilets.