Skip to main content

Home inspection findings

First time home buyer looking for advice after home inspection found more issues than anticipated.
 

After two years of searching, we found a house that meets most of our needs and that we would be happy living in. There were 3 offers on the house and ours was accepted. (we went over the asking price, which is currently common in our region). We felt the homeowners took great care of their home and did not expect the amount if issues found.
 

The inspection found the following:
- Mold on most basement joists. Basement does not feel humid so this was a surprise. An air exchanger was installed a few years back, so maybe the humidity issue was previously resolved and the homeowners aren't disclosing it?
- Slightly sloping floors (inward) in top floor bedrooms, likely due to missing support post in basement. We suspect homeowners may have removed this post during basement renovations.
- No pyrite, but test found that there is a 5.5inch gap between the garage slab and the gravel below it. We are worried the slab would not be able to support a car.
- The homeowners added a Veranda which may not fully comply with zoning laws since it's heated but doesn't have a foundation.
 

We are willing to disregard the Veranda issue and maybe even the garage one. But the mold and sloping floors are major concerns.
 

We're trying to determine if we ask the homeowners to get the sloping floor issue evaluated by an engineer, and the mold cleaned professionally. Or if we simply move on to another home. Our Agent has not been pressuring us in any way, in fact we feel he is almost suggesting we move on. Since were first time buyers, looking for feedback on how major these issue are. Are we overreacting, or is this a legitimate dealbreaker.
 

Thanks for your help.

submitted by /u/920882
[link] [comments]

source https://www.reddit.com/r/RealEstate/comments/dav8ub/home_inspection_findings/

Comments

Popular posts from this blog

North Carolina – “One to Buy; Two to Sell”

I realize I will likely have to contact a real estate attorney but also hoping to hear insights and experiences from others! I have a house in NC that I bought by myself in 2009, and paid off, in full, in 2022. I got married in 2023. My spouse and I have not lived in the house as our "marital residence". We have maintained separate residences even after we got married. (That a separate topic!). I am now selling this house. Realtors have told us that my husband has to sign the deed at time of transfer but I am not convinced since the house has not been our marital residence. The realtors like to use the phrase "one to buy; two to sell", which seems like a broad-stroke statement which is not applicable under all circumstances. And of course, the realtors don’t realize the details of my specific circumstances: I purchased and paid for the house in full prior to marriage Only my name is on the deed And most importantly, we have never lived in the house as a marit...

Aren't comps/CMAs useless with buyer credits at close happening now?

I'm looking into buying a new construction townhouse in my HCOL US city. I'm seeing builders offering interest rate buydowns worth $20k-$60k on $800k homes (rather than just lowering prices) in order to keep their comps high for their other units, now that buyer demand has been declining. I asked my agent about these, and he said these buydowns aren't even the full story: buyers can write all kinds of other credits into an offer, like their closing costs, prepaid sewer fees, etc. Apparently cash buyers can just write in a "buyer credit at close" for any amount in their offer. So a new townhouse that appeared to sell for $800k in the MLS might have actually been a cash offer with a $100k+ buyer credit at close, meaning the buyer only spent $700k or less in total, but to the rest of the world they can only see the $800k! So that made me realize I can't trust comps/CMAs for other new construction townhouses. The sales prices could be way lower than they appear...

Co-signing as non-primary resident - effect on size of required downpayment & first time home buyer status?

Contemplating co-signing on a house with my mom and splitting the mortgage payment. I currently have a significantly higher income and much better credit than her. I'm looking at potential home costs and related downpayments but have difficulty using some of the online estimators. From my perspective, this would be somewhat of an investment purchase (I intend to stay in my current location in a different state and contribute to the mortgage), however, for my mom, this would be a primary residence. For purposes of the downpayment size and the type of mortgage arrangement, would it be an investment property or a primary residence? Many thanks for any help. submitted by /u/piercalicious [link] [comments] source https://www.reddit.com/r/RealEstate/comments/km4hvl/cosigning_as_nonprimary_resident_effect_on_size/