First I'd like to say I'm a upright, honest sort of guy.
I'm buying my first home from someone, the seller/home owner.
When I went to the morgage broker he suggested having a home
inspection before making the contract final - and I would be the
one to pay for the inspection. No problem.
When I told the Seller, he said he had no objections to the
inspection, but he was told by a "friend" who buys and sales
homes, that people often take the Inspection report to the
bargining table and use it as a deal breaker, ie, EITHER FIX ALL
THE PROBLEMS IN THE REPORT or DROP THE PRICE OR WE WALK.
And the seller said when he quoted me a price, he gave me the
firm bottom price. He had it marked up to 'account' for any
I have to tell you this never, never occured to me. I am hoping
that the report will save me from buying a "Money Pit." I
realize the home I am trying to buy is not new and there will be
I don't have a friend who is a realestate agent to ask these
questions. Not even a friend of a friend of a friend who saw a
But, while I know some wear and tear is quite reasonable, what is
not. The easy answer would be "What can you afford." But that
is not a good answer. It the report comes back with a problem of
say Water Damage and $2000 to repair, should I eat the cost
What about $5000 for the Damage or $10 K.
ANY ANY ANY ANY advice whatso ever you can give me re buying
my first home would be greatly appreciated.
If I sound Ignorent, its cuz I is. Please help me.
All apollogies if this is not the right Forum to post this
questions, but I lurked for a while and the people of this group
seemed to be in the know.