Buying My First House....Need Advice - GoFuckYourself.com

Brother Bilo · 07-11-2007, 01:14 PM

I've already signed the papers with the home builder and I'm now waiting on the lender to get back to me. Does anyone have advice on what to look out for so I don't get fucked?

After Shock Media · 07-11-2007, 01:19 PM

Do not sign the papers until you have legal counsel. But I think you already fucked that up.

Brother Bilo · 07-11-2007, 01:22 PM

Quote:

Originally Posted by After Shock Media

Do not sign the papers until you have legal counsel. But I think you already fucked that up.

Nothing is set in stone yet. We can still back out if we want. Can't really afford to have a legal counsel go over all of our stuff though. It's tough enough just affording the house.

After Shock Media · 07-11-2007, 01:26 PM

Quote:

Originally Posted by Brother Bilo

Nothing is set in stone yet. We can still back out if we want. Can't really afford to have a legal counsel go over all of our stuff though. It's tough enough just affording the house.

Do not skip inspectors of all types.

Holly · 07-11-2007, 01:26 PM

Even if you know the builder and think he's a great guy, I personally wouldn't close on it until every single thing is completed and checked off. That means paying close attention on your final walk through. It would probably be worth it to pay an inspector to do the final check for you. And make sure it's someone the builder doesn't already know or work with.

I'd also make sure you had very specific terms in writing about what he will and will not do regarding repairs and problems after you've moved in. If it's new construction, you'll have things pop up in the first few weeks/months. Make sure he gives you a timeline for when he'll take care of them and what things he will exclude and not be responsible for.

I'd also make sure that you get specific about brands and quality of building materials, hardware, appliances, etc. Some of them will try to slip in shitty crap or substitute inferior products if a problem crops up later. And don't forget landscaping specifics, if that's included in your deal.

As for the lending, that will depend on a lot of things- your credit, where it's located, down payment, type of loan, etc. Do you have a broker or someone you can trust to help you?

07-11-2007, 01:30 PM

yea, his and her bathrooms in the master.....things wil be better and u guys will be happy....

hmmm, u dont have any friends that can look the papers over???

Triple10Hec · 07-11-2007, 01:31 PM

hit me up on icq...i still have a mortgage branch and part owner in title firm. i'll make sure to let you know everything you need to know.

Brother Bilo · 07-11-2007, 01:56 PM

Quote:

Originally Posted by Triple10Hec

hit me up on icq...i still have a mortgage branch and part owner in title firm. i'll make sure to let you know everything you need to know.

Sorry, no icq, my computer sucks. I haven't actually met with the lender yet, she is still going through the pre-qual paperwork we filled out. I'm hoping to meet with her by Friday so we can get started. I'm going to make her explain everything as if I was a total idiot, which isn't that far off when it comes to this stuff, and then point out where all of it is in writing. I've heard of so many people getting screwed and losing their homes that it scares the shit out of me. I just don't want to end up like that.

Brother Bilo · 07-11-2007, 01:57 PM

Thanks for all the suggestions so far!!

Kevin Cunningham · 07-11-2007, 02:00 PM

location, location, location

ztik · 07-11-2007, 02:03 PM

Quote:

Originally Posted by Brother Bilo

Nothing is set in stone yet. We can still back out if we want. Can't really afford to have a legal counsel go over all of our stuff though. It's tough enough just affording the house.

Doesn't sound like you are ready to buy the house then.

Phoenix · 07-11-2007, 02:03 PM

whats the details?
custom built home? or new home?

best thing i did was find a really cool home inspector..but i bought my home when it was 8 yrs old already

he went through everything made notes and let me keep them

Peaches · 07-11-2007, 02:14 PM

Get every kind of inspector you can think of before you close:

Plumbing
Electrical
Structural Engineer
Etc.

Yes, even brand new homes need inspections. DO NOT FALL IN LOVE WITH THE HOUSE. If you get to closing and they SAY something is going to be fixed and it's not, postpone closing.

Brother Bilo · 07-11-2007, 02:15 PM

The house isn't built yet, it's still a dirt lot. I am comfortable with being a little straped right now because the house is too good of a deal to pass up. 2100 sq ft home, built to what I want for 190 k is a sweet deal. It's only going up from here too.

tranza · 07-11-2007, 02:16 PM

Good luck man!!

IllTestYourGirls · 07-11-2007, 03:42 PM

never pay by the hour I mean NEVER! Quote must be fore job done, and if you dont like the job make them do it right before pay. Always pay.

IllTestYourGirls · 07-11-2007, 03:43 PM

Quote:

Originally Posted by Brother Bilo

The house isn't built yet, it's still a dirt lot. I am comfortable with being a little straped right now because the house is too good of a deal to pass up. 2100 sq ft home, built to what I want for 190 k is a sweet deal. It's only going up from here too.

damn that is a good deal

Building costs around here start around $250 a sq

Brother Bilo · 07-11-2007, 04:54 PM

Quote:

Originally Posted by tranza

Good luck man!!

Thanks

shekinah · 07-11-2007, 05:44 PM

Just take note if the house is near the market, church, school etc.

robfantasy · 07-11-2007, 07:14 PM

how hard is it to get a new construction loand and land loan??

tell me if this is feasible..

i am looking at some japanese modern home design plans that material wise cost roughly 200k

they are geared toward small lots.

i think i can get a lot for ~100k to put one of these small homes

whats my next step?

Iron Fist · 07-11-2007, 07:22 PM

Buy low and sell high.

07-11-2007, 01:14 PM	#1
Brother Bilo Confirmed User Join Date: Jun 2007 Location: I live in cage Posts: 4,193	Buying My First House....Need Advice I've already signed the papers with the home builder and I'm now waiting on the lender to get back to me. Does anyone have advice on what to look out for so I don't get fucked? __________________

07-11-2007, 01:19 PM	#2
After Shock Media It's coming look busy Join Date: Mar 2001 Location: "Ph'nglui mglw'nafh Cthulhu R'lyeh wgah'nagl fhtagn". Posts: 35,299	Do not sign the papers until you have legal counsel. But I think you already fucked that up. __________________ [email protected] ICQ:135982156 AIM: Aftershockmed1a MSN: [email protected]

07-11-2007, 01:26 PM	#5
Holly Too lazy to set a custom title Join Date: Jun 2003 Location: Jesusland Posts: 10,017	Even if you know the builder and think he's a great guy, I personally wouldn't close on it until every single thing is completed and checked off. That means paying close attention on your final walk through. It would probably be worth it to pay an inspector to do the final check for you. And make sure it's someone the builder doesn't already know or work with. I'd also make sure you had very specific terms in writing about what he will and will not do regarding repairs and problems after you've moved in. If it's new construction, you'll have things pop up in the first few weeks/months. Make sure he gives you a timeline for when he'll take care of them and what things he will exclude and not be responsible for. I'd also make sure that you get specific about brands and quality of building materials, hardware, appliances, etc. Some of them will try to slip in shitty crap or substitute inferior products if a problem crops up later. And don't forget landscaping specifics, if that's included in your deal. As for the lending, that will depend on a lot of things- your credit, where it's located, down payment, type of loan, etc. Do you have a broker or someone you can trust to help you? __________________ War National Damn Champions Eagle

07-11-2007, 01:31 PM	#7
Triple10Hec Confirmed User Join Date: Jun 2007 Location: Gunshine State Posts: 328	hit me up on icq...i still have a mortgage branch and part owner in title firm. i'll make sure to let you know everything you need to know. __________________ M.I.A.M.I (Money Is A Major Issue) icq: 472313591 Men lie, Women lie, NUMBERS DONT! www.triple10vault.com www.sexylette.com

07-11-2007, 01:57 PM	#9
Brother Bilo Confirmed User Join Date: Jun 2007 Location: I live in cage Posts: 4,193	Thanks for all the suggestions so far!! __________________

07-11-2007, 01:30 PM	#6
LilBro Guest Posts: n/a	yea, his and her bathrooms in the master.....things wil be better and u guys will be happy.... hmmm, u dont have any friends that can look the papers over???

07-11-2007, 02:00 PM	#10
Kevin Cunningham Confirmed User Industry Role: Join Date: Aug 2005 Posts: 962	location, location, location

07-11-2007, 02:03 PM	#12
Phoenix BACON BACON BACON Industry Role: Join Date: Nov 2002 Location: Poems everybody, the laddie fancies himself a poet Posts: 35,469	whats the details? custom built home? or new home? best thing i did was find a really cool home inspector..but i bought my home when it was 8 yrs old already he went through everything made notes and let me keep them __________________ Skype Phoenixskype1 Telegram PhoenixBrad https://quantads.io

07-11-2007, 02:14 PM	#13
Peaches Old broad Join Date: Oct 2002 Location: Away Posts: 13,933	Get every kind of inspector you can think of before you close: Plumbing Electrical Structural Engineer Etc. Yes, even brand new homes need inspections. DO NOT FALL IN LOVE WITH THE HOUSE. If you get to closing and they SAY something is going to be fixed and it's not, postpone closing.

07-11-2007, 02:15 PM	#14
Brother Bilo Confirmed User Join Date: Jun 2007 Location: I live in cage Posts: 4,193	The house isn't built yet, it's still a dirt lot. I am comfortable with being a little straped right now because the house is too good of a deal to pass up. 2100 sq ft home, built to what I want for 190 k is a sweet deal. It's only going up from here too. __________________

07-11-2007, 02:16 PM	#15
tranza ICQ: 197-556-237 Join Date: Jun 2003 Location: BRASIL !!! Posts: 57,559	Good luck man!! __________________ I'm just a newbie.

07-11-2007, 03:42 PM	#16
IllTestYourGirls Ah My Balls Industry Role: Join Date: Feb 2007 Location: Under the gold leaf ICQ 388-454-421 Posts: 14,311	never pay by the hour I mean NEVER! Quote must be fore job done, and if you dont like the job make them do it right before pay. Always pay. __________________

07-11-2007, 05:44 PM	#19
shekinah Confirmed User Join Date: May 2006 Posts: 8,452	Just take note if the house is near the market, church, school etc. __________________ [Web Design \| Development \| Programming \| Content Writing ] ICQ: 238-890-469

07-11-2007, 07:14 PM	#20
robfantasy Confirmed User Industry Role: Join Date: Jun 2002 Location: Medellin, Colombia Posts: 6,445	how hard is it to get a new construction loand and land loan?? tell me if this is feasible.. i am looking at some japanese modern home design plans that material wise cost roughly 200k they are geared toward small lots. i think i can get a lot for ~100k to put one of these small homes whats my next step? __________________ Looking to speak w/ high volume nutra CPA affiliates or networks... msg me

07-11-2007, 07:22 PM	#21
Iron Fist Too lazy to set a custom title Join Date: Dec 2006 Posts: 23,400	Buy low and sell high. __________________ i like waffles