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re: Just put in an offer on a house. Looking for some guidance on the process from here...
Posted on 4/14/25 at 11:15 am to jaytothen
Posted on 4/14/25 at 11:15 am to jaytothen
quote:
The market sucks and if it hasn't had an offer ask for way less.
Where we live houses are going in under a week. The last place we toured actually had an accepted offer before the open house happened. Everyone was just already there and they let it keep happening. Found out afterwards.
0
Posted on 4/14/25 at 11:17 am to jlovel7
The game realtors like to play is to overcomplicate the process to make it seem like they are worth the $10K or so that you are paying them. I prefer to keep it simple and as painless as possible.
You obviously want general home inspection as well as termite inspection.
I don’t think there is any radon in the south, so I wouldn’t mess with that.
Make a note of how old the roof is as well as the central heating and Cooling systems.
I don’t have title insurance, as I have never heard of anyone having to use this.
You obviously want general home inspection as well as termite inspection.
I don’t think there is any radon in the south, so I wouldn’t mess with that.
Make a note of how old the roof is as well as the central heating and Cooling systems.
I don’t have title insurance, as I have never heard of anyone having to use this.
Posted on 4/14/25 at 11:18 am to Tyga Woods
quote:
per my experience, the "hot" realtor is usually aboot 50 lbs heavier without all the filters.
Posted on 4/14/25 at 11:19 am to bayoubengals88
quote:
Do you not research? Get on Zillow. Look at recent sales. Look at asking, then look at the actual sale price on the tax acessor website. Geez.
Hint: It's been about 10-20% below recently.
It had only been on the market a day and already had 7 showings. We saw it the first day. Things around here are going insanely fast.
Posted on 4/14/25 at 11:21 am to L1C4
quote:
Doesn't the seller normally pay that?
Historically yes, but I think new laws have been passed to try and start putting this on the buyer and not solely on the seller. We have to negotiate for it now.
Posted on 4/14/25 at 11:21 am to Spankum
quote:
Make a note of how old the roof is as well as the central heating and Cooling systems.
HVAC was replaced in 2020. Roof was replaced last year.
Posted on 4/14/25 at 11:22 am to ELVIS U
in louisiana, the peremptive period to file a lawsuit against a title attorney is 3 years. if a title error shows up on day 1148, you're SOL. Title insurance remains in effect. i use a trustworthy friend (John Hopewell, he's the best) for title work and i buy title insurance.
Posted on 4/14/25 at 11:27 am to jlovel7
Location?
Posted on 4/14/25 at 11:27 am to jlovel7
quote:
+ radon.
is this a newer inspection? It has been about 8 years since the last time i bought a house.
Posted on 4/14/25 at 11:28 am to ELVIS U
quote:
If the bank doesn't require title insurance, don't get it
if the chain of title is clean, do not get the optional owner's title insurance. lender's title insurance is required.
This post was edited on 4/14/25 at 11:30 am
Posted on 4/14/25 at 11:42 am to LSUDad
Winchester VA
Posted on 4/14/25 at 11:43 am to tigahland
quote:
if the chain of title is clean, do not get the optional owner's title insurance. lender's title insurance is required.
Yeah this is what he’s trying to sell. Personal title insurance.
How do I check the title chain?
Posted on 4/14/25 at 11:45 am to jlovel7
quote:
Winchester VA
Find a house inspector, not one from your realtor. Make sure everything is up to code. You might be able to get some money back, on repairs.
Posted on 4/14/25 at 11:46 am to jlovel7
quote:
He's also trying to sell me title insurance
Dude, the Realtor does not sell title insurance.
quote:
some guidance on the process from here...
sounds like that is what your Realtor is trying to do
The closing attorney at the Title company will ask you IF you want to purchase title insurance. Your Realtor is informing you of what to expect at the closing table
Posted on 4/14/25 at 11:47 am to BabyTac
quote:
Never pay full price for anything.
Obviously depends on market conditions. Last three properties I’ve bought required full-price and quick close or you’d get passed quickly.
Posted on 4/14/25 at 11:47 am to jlovel7
Lenders will require a mortgagee's policy. that premium usually runs about 1% of the loan amount. In conjunction with that, the title company will throw in an owners policy (personal) for not much, usually 250 bucks. It's well worth it.
Posted on 4/14/25 at 11:49 am to jlovel7
I’m not sure where you live but I very strongly recommend you have the under slab plumbing looked at with a camera if you have cast iron pipes. We had to pay a fortune to have ours replaced after it was discovered the cast iron pipes were completely corroded out at the bottoms. Ask the inspector to pay for a plumber to do this or hire one yourself.
This post was edited on 4/14/25 at 11:50 am
Posted on 4/14/25 at 11:49 am to LSUDad
quote:
Find a house inspector, not one from your realtor. Make sure everything is up to code. You might be able to get some money back, on repairs.
The inspector he’s offering is his brother so I assume that is a no go in terms of using those services.
Posted on 4/14/25 at 11:50 am to jlovel7
It’s your choice not theirs. When I was young and purchased my first home I let my realtor make too many decisions for me that ended up costing me money in the long run. They’re just like any other salesperson. Trying to push it through as fast as they can so they can get a commission.
I fired one realtor I hired to sell my home because she was wanted me to basically redo the kitchen on top of other things so that it would up the value.
I fired one realtor I hired to sell my home because she was wanted me to basically redo the kitchen on top of other things so that it would up the value.
This post was edited on 4/14/25 at 11:52 am
Posted on 4/14/25 at 11:51 am to biscuitsngravy
quote:
Lenders will require a mortgagee's policy. that premium usually runs about 1% of the loan amount. In conjunction with that, the title company will throw in an owners policy (personal) for not much, usually 250 bucks. It's well worth it.
Our realtor told us it might be $2000
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