What questions should one ask when buying a home (new or old)?

Question

My parents (mostly my mom) are thinking about buying a home next time we move. We were wondering if there were any important questions we should be asking since this is our-well their- first time purchasing a home. We may be moving to Washington state if that information has any weight on the questions we should be asking.

Answer 1

There are questions and then research they should do. You need to find out if its in a flood zone, has there ever been a fire or damage to the home. An inspection will check for termites, structural damage, etc. But you can check things yourself too that they might miss. Look under all the sinks for signs of leakage. Check around outlets for black smudges indicating electrical problems. Check above each door frame for cracks (could be a result of a cracked slab). Find out the age of the roof and appliances and air conditioning units in side and out. Check every single appliance including the heat and air conditioner. Call the electric company and find out what the average electric bill has been for each month of the past year. Do the same with the water company if it gets city water. Visit the house during the night to check the sounds in the area at bedtime, loud parties, barking dogs, airplanes, etc. Go by when its raining to see how the yard holds water. Also, you can ask the seller to pay for one year of home warranty even on a used home, through American Home Shield. Its roughly $350 a year and it covers all your appliances, electrical problems and A/C and heating problems. Most sellers will pay it all or split it with you, this way if something goes wrong, you're covered. I had AHS at our house for 10 years and it came in handy, they repair appliances and replace if they can't be fixed. I got a new disposal, new dishwasher, new stove, new air conditioning unit and new ducts (had to fight for that cuz its not normally covered). It was well worth what I put into it.

There are lots more, but my brain hurts, so start with those.

Answer 2

1 GET A REALTOR!! They can work in your favor as an advocate. Find one that specializes in first time buyers. Find a lender that you feel comfortable working with. Ask what the market is doing there if it is flooded with homes for sale or if you will have a hard time finding something. Make sure to get preapproved from your lender to know what priced home you should be looking for about thirty or forty five days ahead of time from when you move. Look online and a realtor.com you can start shopping on your own just don''t fall in love with any homes because they may not be there when you get there. Also inspect any property that you buy and go to the police station and investigate any area that you are moving into.

Answer 3

I would hire an engineer to look over the property and give you a report on all the pertinent stuff like: termites, heating system, boiler, hot water heater, electrical system, water table, structure, sewer and septic,etc. Some states don't recognize the engineer's report in terms of forcing corrections on the seller, but at least you know what you're buying and, in a purchase this important, it's worth the cost (the buyer pays for this). No matter how handy your Dad (or Mom) is you need someone who can look with an unjaundiced eye and a lot of expertise at the building and property; someone who knows the code in the location. Your real estate agent can recommend someone.

Answer 4

was the roof ever replaced. how old are the appliances. does the house come with a home warrantee - this is an insurance policy that the previous owner will purchase to ensure if you do have problems within a year.. the policy will replace airconditioners, water heaters, etc.. it does not cover washer/dryers, refridge, dishwashers. you can ask about the history of the home ( you might not want to buy a house where a crime had been committed). heck, ask if it's haunted . Ask about the neighborhood... future expansions of roads that may have an impact on your decision...

Answer 5

You need to check the major equipment in the homes you are looking at. For instance, most forget to check the furnace-it's age-it's service history-does it need replaced etc. Also the same with the air conditioner. Before sighning on the dotted line of the purchase my suggestion is to have a heating and air conditioning technician check the furnace and tell you it's state of health as the air conditioner. In the business we have seen more people buy a home only to have to fork out the money to replace the heating and air systems after moving in. It should be a part of the sale if it is faulty or needs serviced it should be on the current residents pocket to fix or replace this equipment.

Answer 6

Use a good realtor, and ensure you get a complete independent inspection report on the property. We humans get too emotional when buying property, and don't look at the things that are going to cost you a fortune in the first few months/years, like new roofing, leaky plumbing, bad electrical wiring, asbestos, etc. A qualified inspector will give you a thorough unbiased report. You can then use that to negotiate the price and/or repairs to be included in the sale.

Answer 7

Here are some links that the experts put together from our research department that gives you the information that you would need in constructing the right questions. Since the laws in Washington relating to real estate are unique to that state you should also look at their laws.
Federal Reserve, pamphlet on acquiring the best mortgage: http://www.federalreserve.gov/pubs/mortgage/mortb_1.htm
US GOVERNMENT CONSUMER TIPS ON HOMES: http://www.consumer.gov/yourhome.htm
EPA: Finding out about your local drinking water quality: http://www.epa.gov/safewater/dwinfo/index.html
EPA’s Required Lead Disclosure from Sellers and brokers:
http://www.epa.gov/lead/pubs/leadbase.htm
All HUD handbooks: http://www.hudclips.org/sub_nonhud/cgi/hbks.cgi?hbks
LAWS: http://apps.leg.wa.gov/rcw/
STATE’S WEB SITE: http://access.wa.gov/
PROPERTY TAXATION LAWS: http://www.co.washington.or.us/deptmts/at/tax_coll/tax_faq2.htm
State bar Association: http://www.wsba.org/
Of course you should consider working with a realtor in the area that can give you even more local information. Have fun with the research.
Buena Suerte

Answer 8

You should ask to have an inspector check it out. Make sure the owner is willing to fix the current problem with the home. Ask if the current owner would pay for the fumigation. And see if you can bargain with him if he sees you are really an interested buyer.

Answer 9

once you've found an area and/or home(s) you're interested in, be sure to have the local police department give you crime statistics. you should also do a a sexual predator search online to find out if there are any registered sex offenders living near your potential new home.

Answer 10

If is has been flooded or is in a flood zone.
Has the house ever had a mold problem.
If it has ever had termites.
How have the past utility expenses been.
How old are the appliances (A/C, furnace...stove)
How old is the roof