Home buying thread

meStevo_foh · Oct 22, 2012

Forgot I never came and updated this... I never got to refi because I had a SNAFU with a credit card that made me miss the credit requirements by like 5 points. I had an automatic payment fail and they never notified me other than "statement is available" spam that they send anyways that I never followed up on ever - my fault. Finally got a call from them when it past 60 days and they had already reported it.

Recently had a medical debt hit collections while we were trying to hash it out with the hospital too, so yay for that.

Just seems silly and counterproductive... no late mortgage payment in 3 years and I can"t get itloweredbecause of a credit requirement.

On the bright side, maybe by the time we get around to doing this there will be some help on the MIP front.

Cutlery · Oct 23, 2012

Brando said:
The realtor should be giving you a list of inspectors, just not one. I would do it if I were you just for piece of mind as while they cannot find anything inside the walls unless there are tell tale signs at least you won"t be kicking yourself if something does come up after closing whether the inspector would have found it or not.

Meh, I walked around with my inspector and determined it is 100% bullshit. These guys aren"t gonna find anything that you can"t find with a checklist and an hour or 2. It seriously is as easy as

"Turn on water. Hot water come out? Y/N
Drain leaking? Y/N
Light switch work? Y/N"

If you know what peeling shingles look like and you know what walls look like when water has been on the floor, you know 99% as much as the inspector. Save yourself the couple hundred bucks.

opiate82_foh · Oct 23, 2012

My inspector found an issue with my furnace that I wouldn"t have known to look for on my own. Could have potentially burned my house down and was a $5 fix.

Yes, you can do most of the job of an inspector yourself, but another set of eyes can never hurt.

Mkopec1_foh · Oct 23, 2012

TheCutlery said:
Meh, I walked around with my inspector and determined it is 100% bullshit. These guys aren"t gonna find anything that you can"t find with a checklist and an hour or 2. It seriously is as easy as

"Turn on water. Hot water come out? Y/N
Drain leaking? Y/N
Light switch work? Y/N"

If you know what peeling shingles look like and you know what walls look like when water has been on the floor, you know 99% as much as the inspector. Save yourself the couple hundred bucks.

Then you just had a shitty inspector. He should be checking for stuff that is blatant code violations, structural problems, drainage, grade, hvac, gas, electric.... among other problems that an average Joe like me or you has no fucking clue about.

The problem is that the "inspector" job can be had by anyone by only certifying into some bullshit class at your local community college. And they are not held liable for shitty information either.

OneofOne · Oct 23, 2012

I"m somewhere between Cutlery and Opiate. Going down the list of things, yeah most of it is bullshit - oh look that closet door is missing it"s handle - write that shit down so I can earn my $350 (or whatever)! On the other hand some of the stuff I"ve seen listed I doubt I would ever check myself, and I only think I would because in hindsight it"s obvious that you should check.

I"m of the opinion that if you"re buying something for several hundred thousand dollars, just get the report.

Cutlery · Oct 23, 2012

Alot of that shit is obvious. Code violations should stick out like a sore thumb, since building permits are required for pretty much everything you do on your house. If it"s not done properly, it probably looks like shit. Drainage and grade are hand in hand. Wet basement? Hey, it"s not draining properly. Is the yard sloped towards the house? Hey, don"t buy it. Gas and structural problems I"ll give you, since most people don"t fuck with gas and aren"t gonna know what a leaning foundation looks like. You have an outlet tester? Hey, you can figure out if your outlets work or not just as well as the inspector.

Maybe you"re an average Joe, but I have no interest in being one. Educate yourself on a lot of this basic shit that men used to know how to do and you"ll save a lot of money in the long run.

I guess I should rephrase that. Alot of that shit is obvious if you"ve actually done something around the house. If you"re the kind of guy that called a plumber because your sink was leaking, you should probably get an inspector.

OneofOne · Oct 23, 2012

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Cutlery · Oct 23, 2012

Well, not really. Tim Taylor was incompetent. Most of the people you have actually doing the work around your house (including the people who built it) are not exactly the sharpest tools in the shed, that"s why they"re doing labor for a living in the first place. It used to be that you had to go to Menards and buy a book on electrical or plumbing or some shit, and then you could dig into the project, but now with google, you don"t even need that. If you have a toolbox with the basic shit and a working knowledge on the difference between a nail and a screw, you should be able to work your way through 95% of all in home projects.

Brando · Oct 23, 2012

meStevo said:
Refi Issues

You"re going through the same bank that gave you your purchase loan, right? There is no FICO requirement on FHA Streamline Refinances, you just have to be current the last 12 months. No credit, income or asset verification and no appraisal. It"s the easiest loan you can possibly do.

As far as inspectors, I had one that saved me from buying a house that needed a chimney replaced but you couldn"t tell just in looking at it at first and then the house I had now probably had about $2k in work that the seller paid on the pool pump/heater and some internal stuff that he found up in the attic. Cutlery is right, you may get a total idiot and it be a waste of $350 or whatever is customary in that area but I don"t think it"s safe to assume that and having as many people look over things when it"s your house is not a bad thing.

meStevo_foh · Oct 23, 2012

Brando said:
You"re going through the same bank that gave you your purchase loan, right? There is no FICO requirement on FHA Streamline Refinances, you just have to be current the last 12 months. No credit, income or asset verification and no appraisal. It"s the easiest loan you can possibly do.

As far as inspectors, I had one that saved me from buying a house that needed a chimney replaced but you couldn"t tell just in looking at it at first and then the house I had now probably had about $2k in work that the seller paid on the pool pump/heater and some internal stuff that he found up in the attic. Cutlery is right, you may get a total idiot and it be a waste of $350 or whatever is customary in that area but I don"t think it"s safe to assume that and having as many people look over things when it"s your house is not a bad thing.

Yup, it"s Bank of America"s restrictions we aren"t getting past, not the program in general. A lot of the random refi garbage we get in the mail has the same FICO requirements in the fine print, like the Quicken one we get almost every other week.

Mkopec1_foh · Oct 24, 2012

TheCutlery said:
Alot of that shit is obvious. Code violations should stick out like a sore thumb, since building permits are required for pretty much everything you do on your house. If it"s not done properly, it probably looks like shit. Drainage and grade are hand in hand. Wet basement? Hey, it"s not draining properly. Is the yard sloped towards the house? Hey, don"t buy it. Gas and structural problems I"ll give you, since most people don"t fuck with gas and aren"t gonna know what a leaning foundation looks like. You have an outlet tester? Hey, you can figure out if your outlets work or not just as well as the inspector.

Maybe you"re an average Joe, but I have no interest in being one. Educate yourself on a lot of this basic shit that men used to know how to do and you"ll save a lot of money in the long run.

I guess I should rephrase that. Alot of that shit is obvious if you"ve actually done something around the house. If you"re the kind of guy that called a plumber because your sink was leaking, you should probably get an inspector.

Ive done plenty of work around the house, probably more than average. But at the same time you have to realize that a lot of people do shit without permits in this country and can fuck up some huge shit, and still make it look good. There is many things that the inspector should check, that, again, you have not clue about. How bout if your circuits are overloaded? Did TheCutlery, the master do it yourselfer, use the proper rated wire to wire up his basement? Is the air inlets for the HVAC properly done so they dont pull in air from the garage? Tons of shit that he should be checking for that you cannot tell just by glancing over it and seeing if its pretty. Is the deck outside done correctly so that when 20 of your buddies come over to drink some beer, the thing does not topple over? Did the dumbass do it yourselfer cut into floor structure while refinishing the basement TO MAKE IT LOOK PRETTY? Did the guy that added the bathroom properly vent the plumbing? Did he add the proper pitch to the drain pipe?

Even if its a shitty inspector and he finds one thing wrong that could cost you thousands down the road is well worth the peace of mind for $350. and even then its well worth to have a second set of eyes check the place out. $350-$400 is a drop in the bucket for a $100K+ Purchase. Or in my case a $235K purchase.

For instance one of the things my report told me that my AC heat exchanger outside was placed way too far away from my furnace, thus decreasing efficiency and not working properly. Now how the fuck is a layman supposed to realize this? I had 2 gas leaks, I was told that the 1970s electrical was a mess... Plus they informed me on a rough age of my roof, that I needed more insulation in the attic, and other things that I could improve on.

Brando · Oct 24, 2012

meStevo said:
Yup, it"s Bank of America"s restrictions we aren"t getting past, not the program in general. A lot of the random refi garbage we get in the mail has the same FICO requirements in the fine print, like the Quicken one we get almost every other week.

There"s your problem, B of A isn"t in the business of doing any loans at the moment. Most lenders are only doing FHA Streamline"s that they currently service but I would try calling a local broker, hopefully one someone you know has dealt with, to see if there are any local lenders that will do it.

Falstaff · Oct 25, 2012

In case anyone wants to know, Zillow now lists homes that are in foreclosure but not yet for sale... you need to register a free account in order to see them. They are the first website to allow this allegedly.

Cutlery · Oct 25, 2012

Mkopec1 said:
Ive done plenty of work around the house, probably more than average. But at the same time you have to realize that a lot of people do shit without permits in this country and can fuck up some huge shit, and still make it look good. There is many things that the inspector should check, that, again, you have not clue about. How bout if your circuits are overloaded? Did TheCutlery, the master do it yourselfer, use the proper rated wire to wire up his basement? Is the air inlets for the HVAC properly done so they dont pull in air from the garage? Tons of shit that he should be checking for that you cannot tell just by glancing over it and seeing if its pretty. Is the deck outside done correctly so that when 20 of your buddies come over to drink some beer, the thing does not topple over? Did the dumbass do it yourselfer cut into floor structure while refinishing the basement TO MAKE IT LOOK PRETTY? Did the guy that added the bathroom properly vent the plumbing? Did he add the proper pitch to the drain pipe?

Even if its a shitty inspector and he finds one thing wrong that could cost you thousands down the road is well worth the peace of mind for $350. and even then its well worth to have a second set of eyes check the place out. $350-$400 is a drop in the bucket for a $100K+ Purchase. Or in my case a $235K purchase.

For instance one of the things my report told me that my AC heat exchanger outside was placed way too far away from my furnace, thus decreasing efficiency and not working properly. Now how the fuck is a layman supposed to realize this? I had 2 gas leaks, I was told that the 1970s electrical was a mess... Plus they informed me on a rough age of my roof, that I needed more insulation in the attic, and other things that I could improve on.

You"re retarded. The guy"s not knocking holes in your fucking walls to check on the gauge of wire used in your basement. He"s not pulling up your fucking carpet to see if the floor structure is damaged. He"s checking for leaks under your sink and seeing if your fucking light switches work.

Do what you want, but you said it yourself -- most inspectors take a class down at the fucking community college and that"s the extent of their qualifications. If you"re putting all of your faith in such a stringent qualification process, then you and I are just never gonna see eye to eye.

OneofOne · Oct 25, 2012

Honestly it just sounds like you"re trying REALLY hard to justify a weak position. I don"t think anyone here disagrees that the bulk of what inspectors will find is stupid shit that only requires an IQ of 90 to notice, but to imply it"s a complete waste of money is something you haven"t justified to us.

Then you go and say stupid shit like:

Most of the people you have actually doing the work around your house (including the people who built it) are not exactly the sharpest tools in the shed, that"s why they"re doing labor for a living in the first place.

I have 2 electricians in the family that I"ve no doubt pull down more $, alone, than you and your wife put together. That you look down your nose at people who work with their hands for a living I find pretty disgusting frankly. Then to further imply they are morons... Erronius is a prefect example. I think the guy is a bit of a blowhard, but he"s an intelligent blowhard, and the guy does construction for a living.

This is what happens when you make broad generalizations because you have to defend your ego publicly.

opiate82_foh · Oct 25, 2012

TheCutlery said:
You"re retarded. The guy"s not knocking holes in your fucking walls to check on the gauge of wire used in your basement. He"s not pulling up your fucking carpet to see if the floor structure is damaged. He"s checking for leaks under your sink and seeing if your fucking light switches work.

Do what you want, but you said it yourself -- most inspectors take a class down at the fucking community college and that"s the extent of their qualifications. If you"re putting all of your faith in such a stringent qualification process, then you and I are just never gonna see eye to eye.

You know, generally you seem like a smart guy, but whenever you post you are such a stand-offish abrasive asshole that it just makes you look like an arrogant fuck who is simply trying to act like an internet badass by belittling others. It"s no wonder you have such a hard time getting a point across.

Cutlery · Oct 25, 2012

OneofOne said:
I have 2 electricians in the family that I"ve no doubt pull down more $, alone, than you and your wife put together. That you look down your nose at people who work with their hands for a living I find pretty disgusting frankly. Then to further imply they are morons... Erronius is a prefect example. I think the guy is a bit of a blowhard, but he"s an intelligent blowhard, and the guy does construction for a living.

This is what happens when you make broad generalizations because you have to defend your ego publicly.

FYI -- First of all, your electrician friends don"t pull down more than my household income, I guarantee it, and it"s not because of me. I"m leaving it at that because I"m not some prick like Lyrical that needs to come here and brag about it. Second of all, I work labor too, and I don"t look down my nose at it. I just call shit what it is. There"s no degree required to work construction, nor is a degree required to do anything around your house, or be an inspector. And lets be fucking serious here, the people doing those jobs aren"t dropping out of Harvard to follow their true calling. Nothing I said was incorrect in the slightest. Don"t like my tone? Fair assessment. Few people do. But I"m not wrong.

Maybe you guys have some kind of super home inspectors in your areas that come in and drill fucking holes in your wall to check your wiring, and then pull up the carpet to make sure that no subflooring has been damaged by any renovations (lol), but that"s not the fucking case here. I walked with mine, and I looked at the checklist he was using very carefully, and there was about 2 things out there that should be outside the general knowledge for a homeowner. He"s also not allowed to damage anything in the process of doing it, so anything inside your walls or under your flooring just isn"t getting looked at. You can have rusted pipes and bare wires and there"s no fucking way he"s ever going to know. They check your attic for insulation depth, they check your crawlspace, they check your outlets and the GFCI"s in the bathroom, the sinks and the drains, they look at the grading outside the house, do a cursory check on how old your windows are, look for water stains where there shouldn"t be, check out the roof to see if shingles are peeling and fire up the furnace and AC to see if it"s blowing the right temp of air, and very very little that"s more complicated than that. If you feel better having a "professional" come in and do all that for you, then go right ahead. It"s your money, and I don"t give a shit.

But what I"ve said all along is that my experience with the inspector that was referred to me by the realtor is that if you have the checklist he"s working off (and I have no doubt you can find one on the internet with little trouble) and any kind of mechanical aptitude or friends or family that do, you can probably do it all yourself and not have to sweat it.

Then you compare me to the fictional incompetent Tool Guy and wonder why I get standoffish and abrasive? Come on. You throw an Al Borland picture up there instead and we don"t go down this road.

This shit"s not that hard, guys. Men all used to do this shit. Don"t let the art of taking care of shit yourself die.

Brando · Oct 26, 2012

I think the point being missed is that the conversation started in how you should just save yourself the $350 or whatever is typical in your area. In a real estate transaction having someone point out things that need to be fixed and is neutral having already received their money makes it a lot easier when discussing repairs with the seller. You can just hand them a copy of the report along with your request for repairs instead of arguing over whether it actually needs to be fixed or not. Sellers are usually pretty emotional over their house seeing as how they put time and effort into making it what it is.

Corndog · Oct 26, 2012

I haven"t bought a house yet. But when I do I"ll have an inspector. The $350 to shut up my wife and her mother will be worth it. So that if anything is missed I wont have to hear about it for the next 50 years.

joeboo13_foh · Oct 26, 2012

TheCutlery said:
There"s no degree required to work construction, nor is a degree required to do anything around your house, or be an inspector.

Because a slip of paper from a four year university is the ultimate test of intelligence.

Good argument

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