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re: What are the OT home buying tips?

Posted on 6/7/23 at 1:01 pm to
Posted by fareplay
Member since Nov 2012
6304 posts
Posted on 6/7/23 at 1:01 pm to
How much are inspectors normally? Also do they give estimates on fix?
Posted by LSUDad
Still on the move
Member since May 2004
61876 posts
Posted on 6/7/23 at 1:18 pm to
quote:

How much are inspectors normally? Also do they give estimates on fix?

They start around $400, from there, sq footage of home. Number of A/C’s, on slab, pier and beam. Too many things can go into the fee.

I was asked to look at a house years ago, I found more items than the inspector.
I was asked to help with a punch list on a new home purchase. Ended up with almost two pages. Make a list, put blue painters tape on items in need of repair.
I was building and flipping homes at the time and knew the cost of most repairs. I always rounded up.
Posted by MrJimBeam
Member since Apr 2009
12963 posts
Posted on 6/7/23 at 1:21 pm to
quote:

Maybe buy a duplex and live in one half and rent out the other.


Yeah I'm sure his wife will love this idea especially if they are going to start a family
Posted by LSUDad
Still on the move
Member since May 2004
61876 posts
Posted on 6/7/23 at 1:23 pm to
Unless you have done home repairs, you might be into more than you want to tackle.
YouTube helps with minor items. These Home and Garden shows, don’t tell the full story. Often times, you can tell when a homeowner tries to do the work.
Posted by Tiger Ree
Houston
Member since Jun 2004
24563 posts
Posted on 6/7/23 at 1:31 pm to
Not going to read the whole thread to see if this was included

But make sure that at closing they have your name the exact way you normally sign it.
Posted by TutHillTiger
Mississippi Alabama
Member since Sep 2010
49830 posts
Posted on 6/7/23 at 1:42 pm to
Get a complete home inspection for sure, the old adage of buying the cheapest house in the best neighborhood you can afford pretty much is always a decent plan.

Posted by Wabbit7
Member since Aug 2018
2267 posts
Posted on 6/7/23 at 1:47 pm to
quote:

We are looking at ~ 7k


Good LORD
Posted by Dawgfanman
Member since Jun 2015
25886 posts
Posted on 6/7/23 at 2:06 pm to
quote:

How much are inspectors normally? Also do they give estimates on fix?


Any inspector who gives estimates for repair or even suggests how it should be repaired should be seen as suspect.
Posted by turnpiketiger
Member since May 2020
12026 posts
Posted on 6/7/23 at 2:10 pm to
If you’re buying in Texas make sure you ask about the MUD Tax.

This is something they like to sort of hide and it can be about half of the yearly taxes you pay. It’s absurd and is very frustrating to me.
Posted by fareplay
Member since Nov 2012
6304 posts
Posted on 6/7/23 at 5:02 pm to
They accepted our offer...

This post was edited on 6/8/23 at 4:50 am
Posted by Dawgfanman
Member since Jun 2015
25886 posts
Posted on 6/7/23 at 5:07 pm to
quote:

They accepted our offer...


Congrats..now the fun starts.
Posted by fareplay
Member since Nov 2012
6304 posts
Posted on 6/7/23 at 5:41 pm to
A bit more scared than i thought
Posted by Armymann50
Playing with my
Member since Sep 2011
21943 posts
Posted on 6/7/23 at 5:56 pm to
buy less house than you can afford.
Posted by GatorPA84
PNW
Member since Sep 2016
5880 posts
Posted on 6/7/23 at 10:00 pm to
Nice crib
Posted by GatorPA84
PNW
Member since Sep 2016
5880 posts
Posted on 6/7/23 at 10:00 pm to
By the way you just told the whole OT where you are living….
Posted by Hiyoka
Tokyo
Member since Oct 2008
1726 posts
Posted on 6/7/23 at 10:21 pm to
Pay cash
Posted by HooDooWitch
TD Bronze member
Member since Sep 2009
11182 posts
Posted on 6/7/23 at 10:55 pm to
First think of what would sell easy in the event you want to move. Curb appeal, schools, etc.

Flood zone. Get X or a zone that doesn’t require flood ins. If you want to get it, it’s cheaper. If it’s required then it’s expensive, better to put that money into the value a nicer house in a good flood zone.

Check with lenders, if they started adding the percentage to good credit borrowers to get bad credit deadbeats better rates ( don’t know if this took affect yet) look for owner finance opportunities. If it hasn’t get a date on when it does and close below fore it takes affect. The last one is me not wanting to pay for that Biden BS.
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