Related Posts
Thoughts on the new Chase Freedom Flex?
Conversation Starter
Im so happy! I just paid off all my debts!
More Posts
Vegan Chocolate Cake
Any Saudi folks here? Alf Mabrook!
City of Detroit
What’s the best VDR and why is it datasite?
Rising Star
Additional Posts in The Real Estate Bowl
Coach
Anonymous User
Enthusiast
New to Fishbowl?
Download the Fishbowl app to
unlock all discussions on Fishbowl.
unlock all discussions on Fishbowl.
First off congrats.
Age of Roof
Age of HVAC / Furnace / AC
Age of Water Heater
Age of Windows
For the love of God get a sewer inspection. It involves a company sticking a camera down the sewer lines to see if there are any roots growing through. It’s a very expensive fix. (Ask me how I know)
Average cost of utilities (are they split)
Cost of Taxes
Is it in a HOA? Cost per year? Rules on renting out property in HOA
What school zone is it in?
Are you allowed to Short Term Rent the property (think Airbnb)
Is it in a Flood Zone??? If so expect to pay massive insurance costs.
Is it on a slab or basement/crawl space? Does it flood? Has it flooded?
100% get an inspection
100 % get a sewer line inspection
Good luck
Thanks so much! I ordered an inspection and waiting on the report but will follow up with these questions. It’s no HOA so I’m good on that end. I will certainly schedule a sewer inspection as well.
Drive by the property on different days and at different times to really get a feel of the neighborhood.
If there is an association, ask to see their last 6 months of meeting minutes and budget for the year.
Check for signs of past flooding in the basement and make sure the sump pump works if there is one.
Ask seller to give you a general ballpark of where utility bills usually fall so you can get an idea of monthly costs.
This. 100%. I used to encourage my clients to go to the neighborhood on a Friday night and just park, observe, and walk around. Are there people out and about? Is little Johnny practicing drums next door? What's the weekend vibe?
Please make sure you get an independent inspector NOT recommended by your realtor. Our inspection report did not show how bad the roof was and issues with foundation - it would have been impossible to miss, but our inspector was recommended by the realtor. Just remember everyone in the food chain makes money if you buy, so their incentives are misaligned to yours.
If you can - make friends with contractors and ask for their opinion.
As someone who went with the inspector company that my realtor recommended, I regret it.
If there’s a school on the street, drive by at drop off / pickup time.
Drive by at night.
Understand any property tax exemptions they have for this year and understand that you won’t have them next year. The value of the house will go up (revalued upon transfer) and you may lose some exemptions. That means your escrow payment will go up a lot - especially if there’s a shortage you have to make up.
Noted, I’ll look into it. Thank you!
Ask for a survey. The house we bought had expanded into the next door lot.
Fortunately, seller owned both, and we were able to get land as needed.
FYI- you'll never end up with a house if this is in your deal.
If there are obvious questions, that can be written into a DD period for attorney clarification
I liked the inspector my realtor suggested. He was an architect and a contractor. That’s important apparently because they can help answer your questions on ‘can I change this or that’. He was on time, quick, very detailed and thorough. I’ve implemented several of his suggestions now.
The only issue he did not spot was that the sump pump drained into the sewer. That is not allowed. Anyway we had a good budget for repairs and spent some on re waterproofing the basement which was all done wrong but not something the inspector could have spotted.
Subject Expert
Are you buying both sides of the duplex or just one side?
both