PCF Cribz: Legendary Poster Edition

[Circe]

[ToddStarnes]

Look saz. Hubris is fine when you're 25. When you're approaching or at 30 and claiming a multi decade investment with a million variables is guaranteed to be more profitable than an alternative......well it's time to put down the crack pipe brother. Only boomers think RE is a guarantee.

[John Galt]

you can and you must get it contingent on inspection. if someone says they don't want you to do that, run f**k away

a guy i know bought a house with severe mold problems, no ventilation in attic, leaks, none of the GFCI wored, lack of gutters, etc... i forget the amount of problems, but he got it for 'a steal' and was all happy about it, and then bought the inspection from the previous buyers who backed out in horror, and thought he needed to do a few things. i told him he best level the place, and if he put his kids in there it was child abuse

f**k i've seen horror stories about flippers who didn't connect the output of the toilet to the main sewer, and so people were just piling shit up in the crawlspace below their house for a few months until they figured out what was happening

get a f**k inspection done

i recently attempted to buy a house, but i couldn't sell my own house for what i needed and so the whole thing fell through. i went through the inspection of the would be place, and everything was pretty good. the bad things about it (some water damage) had had the root of the problem fixed: the inspector determined that the house had, for years, lacked gutters, which caused many water problems that were all gone but the effects still were there, like water damage on windows and whatnot

i'll tell you what though. f**k realtors. they take 5-8% of the sale and do basically nothing. i guess when buying a house it doesn't matter, because the realtors share on the cost of the sale and you buying don't see it like you're paying them (but you are), but on the selling side? refin is 1.5%. and for sale by owner is even better

[Saz]

[Saz]

[Saz]

[John Galt]

[Saz]

Nice. I suppose you do kind of need to trust the inspector or make sure they have some liability if they f**k up? Worth having a second opinion as well - ie two separate inspections? Sounds like I should be good with 10k + whatever I’m putting down then.

[exploited]

Don't hire any inspector - you want the inspector who has thirty years of experience as a contractor or house builder, and who is now doing inspections to supplement his retirement. I don't think that hiring two is necessary - what I did is I had an inspector go over it, and then I pulled in a friend of mine who is quite handy and experienced and had him go over things as well. Between the professional and the layman, I was aware of pretty much everything wrong or potentially wrong with my house before I bought.

My inspector gave me a huge textbook that went over every major house system, and included organized spots for receipts, a checklist for regular maintenance, and an explanation of how things work and what you should look out for when working on various systems. This has proven to be REALLY useful to me over the years. I'm somewhat handy but I'm also pretty busy and can sometimes forget to do the yearly checks that will make your house last the long term - this cuts out any difficulty and reduces things down to a regular checklist. Ask any prospective inspector if they provide resources like that to you.

In regards to costs, that is inline with what I experienced - $400 for an inspection, $7500 Canadabucks for the legal fees/transfers/closing.

[Saz]

It’s 400/500 bucks, if I can’t sue them for f**k up then I think it’s worth doing twice just to cover all the bases. What happens if you have an inspection and they just miss something big? Shit out of luck?

Probably more a question for Dylan, but do I really need a lawyer for this shit or can I do it myself and have a real estate bro check it? I guess I’m was wonderig what the lawyer does just write up the papers or opine on title or something?

Any other costs I’m not thinking of? What about insurance can I price this out before as well (I.e get a quote on a place I don’t own)?

Also Winchester what’s the deal with writing off state property taxes? Is that not a thing anymore or can I still write off salt up to some cap? Same thing with mortgage interest right?

Yes I could google most of this but it’s better to talk it out. Google lies