Let the buyer beware. NOT

Zogman

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After 38 years we are selling our house. We haven't sign on with a realtor yet, however we have visited with one that is a family friend. Our first task is a sellers disclosure statement which is 10 pages long with 355 questions of which some have more than one part. And upon advice of the realtor we need to buy a sellers protection plan. I am too old for all this Cow Cookies.

Alot of the questions are very poorly worded or just plain dumb. So you need to attach an explanation to clarify the answer.

My recent real estate purchase was from a friend. A hand shake, down payment and a handwritten purchase agreement. We agreed upon a lawyer and started moving our stuff. Finalized it 3 weeks later.

I truly feel sorry for all the Cow Cookies that take to purchase a home in these days. Bought our first house in 1969 and had to sign about 5 or 6 papers. Now its closer to 25 or so.

My point being is even after this elaborate disclosure document we are still on the hook if anything goes wrong.
 


eyexer

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I wouldn’t use a realtor if they were the last people on earth. Just list it on Zillow and trulia and put nice pics in there. Price it fairly and it’ll be gone soon
 

Zogman

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I wouldn’t use a realtor if they were the last people on earth. Just list it on Zillow and trulia and put nice pics in there. Price it fairly and it’ll be gone soon


Good advice Eye and I tend to agree with you. How ever my tech skills are very limited. And a few other complications.
 

riverview

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I have bought and sold a few bare lots, the first ones we did it on a hand shake and handwritten purchase agreement using a notary to notarize. The last lot I sold the guy made me a offer and we shook hands then he went home and told his wife that worked at a bank. She tried to get me to pay a bunch of closing costs, and the specials that were on the lot. We stated if they wanted to buy it they paid all costs ended up taking about 3 months
 

BrokenBackJack

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After 38 years we are selling our house. We haven't sign on with a realtor yet, however we have visited with one that is a family friend. Our first task is a sellers disclosure statement which is 10 pages long with 355 questions of which some have more than one part. And upon advice of the realtor we need to buy a sellers protection plan. I am too old for all this Cow Cookies.

Alot of the questions are very poorly worded or just plain dumb. So you need to attach an explanation to clarify the answer.

My recent real estate purchase was from a friend. A hand shake, down payment and a handwritten purchase agreement. We agreed upon a lawyer and started moving our stuff. Finalized it 3 weeks later.

I truly feel sorry for all the Cow Cookies that take to purchase a home in these days. Bought our first house in 1969 and had to sign about 5 or 6 papers. Now its closer to 25 or so.

My point being is even after this elaborate disclosure document we are still on the hook if anything goes wrong.


What is this all about? Please explain if anything goes wrong.
7
 


Retired Educator

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Very few can purchase a house today without a loan. Lending institutions are going to require some type of insurance that the property they are loaning for is worth the amount they are loaning. Haven't sold or purchased a home for several years and don't know about any disclosure papers but I do know that "Home Inspections" are common. Home inspections are supposed to find any preexisting problems that need attention.

I would not buy a home, new or used, without an inspection. Would hate to buy a different home and once I was moved in find several issues that need to be fixed. Kind of like buying a used truck with a warranty or as is. If I was making the loan I would for sure required some kind of assurance that the property was worth the amount I'm loaning. Home inspections can help protect the buyer as well as the seller. If something is found that needs repair the agreement can be either for the seller to fix to insure the asking price is valid or for the buyer to fix at a reduced selling price.
 

Migrator Man

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After 38 years we are selling our house. We haven't sign on with a realtor yet, however we have visited with one that is a family friend. Our first task is a sellers disclosure statement which is 10 pages long with 355 questions of which some have more than one part. And upon advice of the realtor we need to buy a sellers protection plan. I am too old for all this Cow Cookies.

Alot of the questions are very poorly worded or just plain dumb. So you need to attach an explanation to clarify the answer.

My recent real estate purchase was from a friend. A hand shake, down payment and a handwritten purchase agreement. We agreed upon a lawyer and started moving our stuff. Finalized it 3 weeks later.

I truly feel sorry for all the Cow Cookies that take to purchase a home in these days. Bought our first house in 1969 and had to sign about 5 or 6 papers. Now its closer to 25 or so.

My point being is even after this elaborate disclosure document we are still on the hook if anything goes wrong.

Is MN a buyer beware state? If you disclose what you know and don’t hide anything then you should be fine. For them to come back at you they have to prove you knew.
 

Captain Ahab

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I think a home inspection is cheap assurance. I also have no problem using a realtor. A good one usually will get enough extra to cover their commission and some are willing to negotiate their cost if they don't live up to their duty. If you have the fish already hooked, it may be worth a DIY, though. I know I had somebody that was interested in my first house that fell through doing it on my own. I hired a realtor and he marked it up $20,000 over what I was thinking I would get and I ended up getting $17,000 more on the purchase price. Payed him $12,000 and walked away with $5,000 more in my pocket without any extra work on my part.
 

shorthairsrus

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a person gets old the memory isnt what it used to be --- thats A.

expect to have someone want an inspection - thats B (why because nobody has cash anymore )

expect the inspector to miss things - thats C - 2 hours max -- but expect you to fix --- they wont accept a lower offer - why again they have no cash)

- - - Updated - - -

and this is why we need our govt out of mortgages --- artificially you are paying so much more for your home due to the fact that the private market is unable to mortgage homes.


Very few can purchase a house today without a loan. Lending institutions are going to require some type of insurance that the property they are loaning for is worth the amount they are loaning. Haven't sold or purchased a home for several years and don't know about any disclosure papers but I do know that "Home Inspections" are common. Home inspections are supposed to find any preexisting problems that need attention.

I would not buy a home, new or used, without an inspection. Would hate to buy a different home and once I was moved in find several issues that need to be fixed. Kind of like buying a used truck with a warranty or as is. If I was making the loan I would for sure required some kind of assurance that the property was worth the amount I'm loaning. Home inspections can help protect the buyer as well as the seller. If something is found that needs repair the agreement can be either for the seller to fix to insure the asking price is valid or for the buyer to fix at a reduced selling price.
 

Zogman

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I agree with the inspection rather than the 10 page disclosure document. Some are very through and some are not. I know a couple here in GF and both are very good.
 


db-2

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It not what it use to be. Bought first in 77. Made offer at about 60% of asking price, got loan from Farmers Home, no inspection, outside apprasial nor written paper. Bought last two homes on handshakes but with a written piece of paper i wrote up. But that was 23 years ago. Banks have change and with a lot of that coming from the goverment regs.

Today if i was to sell my home would put a sign up or maybe some kind of ad.
Got my price and if buyer comes here it is for this price, as is, i guess buyer may need to listen to his banker but here it is, take it or leave it.
But then have no interest in selling it and maybe the kids will need to do it someday. db

- - - Updated - - -

So do not need no fricking outsider putting his hands in the pot.
 

Up Y'oars

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Paying a home inspector has helped me on TWO homes when I was looking to buy ten years ago. They found a problem with a roof on one home and some other internal issues on another home. Yes, it cost me hundreds of dollars, but on the other hand it could've cost me thousands had I gone forth with offers and the actual purchase.

I was even more lucky that one of those homes were under water in the 2011 flood (Hoge Island area). Thank God I pulled out of the deal before getting into that home only to lose most of it just 10mos later.

I will stand by the cost of the inspector, IF they do a decent job crawling around and finding those hidden items.
 

JayKay

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I wouldn’t use a realtor if they were the last people on earth. Just list it on Zillow and trulia and put nice pics in there. Price it fairly and it’ll be gone soon

Amen brother. I guess I have some friends who are realtors, and I don't necessarily have a problem with using a realtor, but you surely can save a bundle, by doing it yourself. We last moved, about 8 yrs ago, in Bismarck. Sold the old house without even listing it. Found the new one on Bismarckmandanhomes.com Bought without a realtor.

A good banker is all you really need.
 

eyexer

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Amen brother. I guess I have some friends who are realtors, and I don't necessarily have a problem with using a realtor, but you surely can save a bundle, by doing it yourself. We last moved, about 8 yrs ago, in Bismarck. Sold the old house without even listing it. Found the new one on Bismarckmandanhomes.com Bought without a realtor.

A good banker is all you really need.
and title company
 

zoops

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Paying a home inspector has helped me on TWO homes when I was looking to buy ten years ago. They found a problem with a roof on one home and some other internal issues on another home. Yes, it cost me hundreds of dollars, but on the other hand it could've cost me thousands had I gone forth with offers and the actual purchase.

I was even more lucky that one of those homes were under water in the 2011 flood (Hoge Island area). Thank God I pulled out of the deal before getting into that home only to lose most of it just 10mos later.

I will stand by the cost of the inspector, IF they do a decent job crawling around and finding those hidden items.

I'm sure they do catch things. Wasn't terribly impressed with mine when I bought my house in Bismarck ~10 years ago. Didn't catch a rotten spot in a bathroom floor (I should have - young and dumb)...also things like inadequate attic ventilation. Seemed they just looked for pretty superficial stuff. I think it was around $400.
 


Duckslayer100

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I think that's the key, you need to find a competent home inspector; "competent" being the operant word.

We used Nordic Home Inspections when we purchased in 2012, and they were exceptional. Super thorough, and caught some issues that saved us thousands of dollars as we were able to negotiate the price down or had the homeowner make the fixes.
 

riverview

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sold my mothers house a few years ago after she passed. over 100 years old with addetions, un occupied for a few years. bascially needed some work. A single mother getting a low interest loan was interested. the only thing the inspector found was the new electrical entrance box that was installed by a licenesed electrincian was never inspected and had no inspection sticker. I had and electrical inspector inspect it got the sticker. the house inspector missed alot of major things from sewer to structial. Huge pain dealing with the low interest loan inspectors and realitor.
 

BRK

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Home Inspectors are like anyone else in the world; there's good ones and bad ones. I happen to be a home inspector; jump started the business in advance to my retirement from the Army NG 5 years from now. I won't say I'm "the best", but I know I'm not bad either. Some things to keep in mind is most home inspectors shouldn't be opening things up inside the home other than to access the attic and the electrical panel. Things like sewers aren't inspected unless you request it and the inspector offers it, we call them ancillary services, meaning you'll be charged more. As far as structural issues go; that's a fine line to ride as well. We aren't peeling back sheetrock or wainscoating to look at the foundation and can only see what's "visible". If there's a loose piece I can peak behind; game on. The main goal of an inspector should be to find enough defects in the home in which the repairs would equal the fee you're charging the client. This isn't always possible, but in most cases is achievable.
 
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zoops

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Home Inspectors are like anyone else in the world; there's good ones and bad ones. I happen to be a home inspector; jump started the business in advance to my retirement from the Army NG 5 years from now. I won't say I'm "the best", but I know I'm not bad either. Some things to keep in mind is most home inspectors shouldn't be opening things up inside the home other than to access the attic and the electrical panel. Things like sewers aren't inspected unless you request it and the inspector offers it, we call them ancillary services, meaning you'll be charged more. As far as structural issues go; that's a fine line to ride as well. We aren't peeling back sheetrock or wainscoating to look at the foundation and can only see what's "visible". If there's a loose piece I can peak behind; game on. The main goal of an inspector should be to find enough defects in the home in which the repairs would equal the fee you're charging the client. This isn't always possible, but in most cases is achievable.

Agree, if you're paying $400-500 for an inspection you're probably paying for 2-3 hours of their time, which would include the time it takes for them to do the paperwork and present the inspection to the client, which isn't a lot. But, a couple hours is a decent amount of time to shake down a 1500 sq.ft. home to find things that even a knucklehead like me could find.
 

Motohunter

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If you want to see some of the sketchy stuff they come across check out A1 Home Inspections in Bismarck on Facebook. Some of the stuff he comes across and videos is pretty unreal.
 


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