I put an offer in on my first house, what should I know or be on the look out for

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To be honest most appraisals are also bullshit
 

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The appraised value us based off of comparable properties that have recently sold in that area. Market dictates the value.


But its highly influenced by the agreed upon sale price.
 

Libatards Suck
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Be sure to check for foundation cracks, termite damage & mold.........Good luck with your 1st home purchase Kidman
 

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But its highly influenced by the agreed upon sale price.

Yep it usually works out that way, but then again markets are kind of magical like that. I bought my house 2012 at the bottom of the market, and buying was tough, and I kept getting out bid. I finally offered 10% more than the asking price, my offer was accepted. The final appraisal came back 1k higher than I offered.

I had to do all the inspections, wasn't even a matter of choice.
 

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The roof: how old is it? Is it new shingles over old shingles? Very important.

The furnace: how old is it? Most max out at about 25 years. Also, how efficient is it? You may want to ask to see one year's worth of utility bills.

The hot water heater: same questions. Not the biggest replacement expense, but if it cuts loose before you can replace it, you will have an indoor swimming pool.
 

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Lots of the the advice coming in here is stuff you should have done before making the offer. What you can expect now, is either you offer will be accepted, declined, or you might get a counter offer. Once you both agree, then the real fun begins. Be prepared for a stressful few months for every thing to close.
 

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my agent emailed me saying she hasn't heard back yet, its the weekend though, so thought it might be slower
 

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Thats awesome! congrats. What state are you buying in? I know different states have different "look out fors" in them
 

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my agent emailed me saying she hasn't heard back yet, its the weekend though, so thought it might be slower

That shouldn't matter Kidman. I've walked away before because a seller doesn't respond within the stated time period. That's really up to you though.
 

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That shouldn't matter Kidman. I've walked away before because a seller doesn't respond within the stated time period. That's really up to you though.

Its only been 24 hours since formal offer was submitted. Of the 7 houses we viewed, this is the only one id act on. So if it doesn't work out, well be starting back up again
 

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for sure enfuego. the kitchen and a finished basement were the two big things on our want list
 

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ask about a flood plane (meaning where does the water flow
asbestos
deck inspection
drive way repair for cracks as well as side walk work (village)
interior looks great from that 1 shot
if there is basement...check every single spot..don't be lazy

BOL
 

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Where is this again?

I'd like to invest in property out of state since Boston has basically become the San Francisco of the East coast. Just not sure how doable it is on a small scale.
 

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