First time Homebuyer Questions
Hello Everyone,
I'm new to this community. I stopped wasting my time on Instagram and get into REI with all of your help. Thank you so much.
I'm looking at the listings around Syracuse area. My budget is up to 80-90K$. There are several listings within my budget. However, the properties are old and most of them do not have some details. The most tricky part for me is the maintenance costs. I made a 'questions to be asked to the agent/owner for maintenance'. Any input or advice would be greatly appreciated here.
1. When was the roof replaced?
2. When the HVAC was replaced?
3. When was the plumbing system replaced?
4. When was the electricity system replaced?
5. When was the foundation replaced? (Sounds weird to me )
6. When was the last pest control?
7. When was the last time that the air filters, smoke detectors, carbon monoxide detectors replaced?
8. When was the last lead inspection?
9. Is the property part of any homeowners' association?
10. Do the property boundaries in the listing match with the ones in records?
11. Are there any zone violations? (I'm sure there is a better way of asking this)
12. Does the tenant pay for the utilities? If no, How much do they cost on average? Can i ask bills here?
13. How much is the homeowners insurance? Do they have one? Can i continue using it? Transferable?
1-4 are either in the property condition disclosure, or evident when you see the home or upon inspection. These issues are important for future costs
5. Foundations don’t get replaced only repaired, doesn’t have to be disclosed
6-7 again you can see when you visit if there are evidence of pests or poor maintenance, won’t be disclosed or very useful to ask.
8. Lead paint is a disclosure
9. Has to be in the listing
10. Survey may be in the listing docs or will be provided later. Listing will show county records.
11. Code and zone violations you can call the town and should.
12. This will be in the listing. If paid by landlord you can ask for a bill.
13. Insurance cannot be transferred: you can ask what current premium is as part of income/expenses.
Quote from @Stephen Schmitt:
1-4 are either in the property condition disclosure, or evident when you see the home or upon inspection. These issues are important for future costs
5. Foundations don’t get replaced only repaired, doesn’t have to be disclosed
6-7 again you can see when you visit if there are evidence of pests or poor maintenance, won’t be disclosed or very useful to ask.
8. Lead paint is a disclosure
9. Has to be in the listing
10. Survey may be in the listing docs or will be provided later. Listing will show county records.
11. Code and zone violations you can call the town and should.
12. This will be in the listing. If paid by landlord you can ask for a bill.
13. Insurance cannot be transferred: you can ask what current premium is as part of income/expenses.
Thank you so much for the answers @Stephen Schmitt !!!
do you think these questions will turn off the agent or landlord because they are specific? Do they want to provide these information or are they too much to ask?
Before you start asking all of these questions, step one is to drive by the property if you have time, or see the property with your agent. A lot can be answered that way. Sellers and agents don’t want to answer questions from someone that hasn’t even seen it.
These questions should be asked when you are putting an offer in, and many others will be answered during inspection.