Wednesday, October 31, 2012

Our Big Step

Our next step;

 So these past few days we had decided to go with this home, Its in Nashville county. The home is about seven houses down from the fire department. Two blocks away from two gas stations a Rite Aid and a Surfine. Also only 30mins away from my job instead of an hour. Its is a 3bed 1.5baths attic and basement, With a redone kitchen and has a cute little fire place. The property sits right up against farmland which is nice because we know there wont be a development behind us. The only bad thing is that the street confront of the house is RT116 which is a semi busy road.

  After we looked at the house with our fathers got there options (which was not a very positive option). We decided we still loved the house with its minor flaws, which we found out could be possibly fix or replaced upon request.(but, not meaning they will do it) Then with all the rain we had we check to see if everything held up, it did for the most past not flooding in the basement no leaks in the attic, but the kitchen door leaked and damaged on of the counters in the kitchen which didn't make us very happy at all and again will be asking to see if they will fix or replace both as well.

Next, we told her "sold!".. so she told us "lets put in an offer"
This is where all the numbers and agreements,forms and where you get to sigh and initial all over the place. We got a few important papers and notices about what we where getting into next and these where them:
 
Disclosure statement : Seller telling us what they know about the house as a whole.(even if they are not living in it right now)

Lead Base Paint Disclosure
before 1978: stating the dangers about lead based paints and what to do.

Rights/Notices:
To know the ins and out about the surrounding areas and the house if selling or what your getting (inspections,radon,lead,community/condo area,farm land,mediation rights)

Agency Contract
We will not work with another agent until contract is terminated or property is sold

Standard Agreement of Sale of Real Estate:
 Parties involved, Townships, who you and the seller are represented by, agencies that are being used, offering/ asking prices. is buyer wants seller help,what is on the property (everything that is there like fridges,fixtures)
choosing a home inspection and what you want it to contain like checking water,radon,sewer,insurable, boundaries/deed(only zoned for X) lead base paints
 (if anything fails you are entitled to ask for them to fix it or get a refund or backing out of the contract with this house)home warranty

Buys estimated costs:
general break down about closing cost,monthly payment and hidden fees.
Good faith money (1,00) hold with the sellers agent, just to state you are all in on this property this money will be held until final payment time and will be counted for with your share of the house.

With the proposal in they have 2 days to reply and if they agree we go on if they don't we negotiate some more.



1 comment:

  1. That's an adorable house!

    Great job on your blogs this semester--I'm guessing this is your last one, since it's your 10th. You picked a nice theme, and did a great job with detail. I loved your use of photos.

    5

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