overthinking real estate

[rgramjet]

I like the mid living room Pizza Oven!

[Speedbag]

Looks like a neat place. 

Mold and moisture should be among the primary concerns.

A co-worker has moisture issues from hell that have cost him thousands....and he's nowhere near done. I'm talking having to run two dehumidifiers in the dead of MN winter to keep levels under 70%. (That's bad. REAL bad.) My theory is that the place is built on a reclaimed wetland....

[cokey]

Is there some type of meter to chech moisture levels?

[redxblack]

Bummer. I just got a disclosure sheet from the real estate agent. That problematic back wall is more problematic than it seemed. It is a source of leaks, and part of it is leaning inward slightly. The drainage will need to be redug and replaced in all likelyhood. There's some structural integrity issues I don't want to deal with. Oh well. It's a cool place, but just too rich for my blood with all it'll need.

I read on here the best way to get a good deal is to be willing to walk away from a bad one.

Regardless,  for all the comments.

[herm]

Bummer. I just got a disclosure sheet from the real estate agent. That problematic back wall is more problematic than it seemed. It is a source of leaks, and part of it is leaning inward slightly. The drainage will need to be redug and replaced in all likelyhood. There's some structural integrity issues I don't want to deal with. Oh well. It's a cool place, but just too rich for my blood with all it'll need.

I read on here the best way to get a good deal is to be willing to walk away from a bad one.

Regardless,  for all the comments.

smart..

[ducatiz]

Bummer. I just got a disclosure sheet from the real estate agent. That problematic back wall is more problematic than it seemed. It is a source of leaks, and part of it is leaning inward slightly. The drainage will need to be redug and replaced in all likelyhood. There's some structural integrity issues I don't want to deal with. Oh well. It's a cool place, but just too rich for my blood with all it'll need.

I read on here the best way to get a good deal is to be willing to walk away from a bad one.

Regardless,  for all the comments.

Is the house being sold "As Is?"

If not, negotiate a sum that the seller is responsible for after sale.  It's not unusual, or get estimates of the job and negotiate the price of the house down. 

It's actually advantageous because you can get other work done at the same time and will end up being cheaper overall.

[redxblack]

It's worth a shot. I'll make a couple calls today.

[zooom]

also worth thinking about...built in 61...you may have some lead paint or other lead abatement issues to contend with...

[akmnstr]

We just bought a house and got burned on easements on the property.  The title search did not reveal the language of the easements and the limitations on our ownership.  We should have spent time at the county court house looking the easements up. 

[badgalbetty]

 I would not touch this with a ten foot barge pole.
You are money ahead finding something better. I see a money pit here. Never buy more house than you can afford.If you have a mortgage limit of $1000.00 per month then shoot for the mortgage that will cost you $850.00 per month and have a bit of wiggle room . You'll be glad you did.There are tons of options out there right now. When I bought one of my farms I spent a year looking.......Be patient, do your do diligence. Get a licensed inspector. If he misses something make them accountable. Anything with a disclosure such as a leak mold bad siding etc will have to be fixed beforehand.Most banks will not loan money if major repairs need to be done to make the place habitable. The rules have changed regarding banks since the melt down.
If necessary use an attorney to check over all of the paperwork beforehand.
This place? I would walk away.my 02.

[Triple J]

Bummer. I just got a disclosure sheet from the real estate agent. That problematic back wall is more problematic than it seemed. It is a source of leaks, and part of it is leaning inward slightly. The drainage will need to be redug and replaced in all likelyhood. There's some structural integrity issues I don't want to deal with. Oh well. It's a cool place, but just too rich for my blood with all it'll need.

Good move to pass IMO.

Leaks into a basement can be dealt with, but can also become a huge PIA. The leaning wall is a bigger issue. Sounds like it was under designed. Even without a functioning drain system it should have been designed to resist the water loads, which it sounds like it wasn't, because drains always have the potential to clog.

It does look like a cool house though, and the fact that the basement is a daylight basement makes the drainage problem a bit easier to deal with.

[ducatiz]

Don't let them frighten you -- get a structural engineer to look at it if you really like the house.

You would be surprised what a seller will do when faced with a signed estimate from an engineer.

Plus, once you do that, the seller is on notice that there is a major flaw in the house and can't sell it without informing any future would-be buyer.

We had a situation with our current house -- when we started renovating the kitchen (complete gutting) we also put in a picture window to replace the old double-hung fuglies on the back wall.  When we took the old window out, the wood beam up top was water damaged.  We took the drywall off and lo and behold, the roof had leaked into that area inside the wall and rotted the wood.  It was BAD.  But here is the CATCH:  The previous owner had gotten the roof replaced -- the entire thing -- about a month before putting it on the market.  We found out who did the work, called them up and sure enough -- they had spotted the rotting wood and told the previous owners who told them to STFU and don't worry about it.

Suffice to say, we threatened a lawsuit and they ended up settling with us to replace the entire back.  Of course, that mean removing the entire wall and replacing everything -- which made installing the new windows, electrical lines, and new siding a lot cheaper. 

My guess is that wall is being pushed by the hillside OR that the freeze line is high and they didn't account for the expansion in winter.  Water + dirt + freezing = big dirt.  You won't know until you have an engineer look at it.

Once you do, and the fault is identified, the seller is in a Catch-22.  He can't knowingly sell it with a major fault especially when he knows the reason for it.  No state allows a seller to sell a house with a known structural defect without telling a buyer.  Period. 

So he will be stuck trying to sell the house AS-IS which severely reduces the selling price.

Grab yer balls and go.

[Triple J]

My guess is that wall is being pushed by the hillside OR that the freeze line is high and they didn't account for the expansion in winter.  Water + dirt + freezing = big dirt.  You won't know until you have an engineer look at it.

From the sound of it the wall was designed for active earth pressures.  It should have been designed for at-rest earth pressures (higher) since cinder blocks are a rigid wall system and it is part of the house structure (as opposed to a retaining wall in the yard which can move a little to mobilize the lower active pressures).

In addition, it may not have been designed to account for any loading from water due to the drainage system. IMO the wall should also have been designed to resist water loads as draininage systems tend to clog over time.

One of those, or a combination of both, is most likely the problem. Getting an engineer (I'd recommend a geotech. engineer) is a good idea if he really wants the house. The fix won't be cheap, but if the owner will pay to sell the house, then sweet!

[ducatiz]

One of those, or a combination of both, is most likely the problem. Getting an engineer (I'd recommend a geotech. engineer) is a good idea if he really wants the house. The fix won't be cheap, but if the owner will pay to sell the house, then sweet!

My main point was that once the owner KNOWS of the problem, he is legally prohibited from selling the house without informing any potential buyer.  It is a great negotiation point. 

"OK, you don't want to bargain with me?  Fine.  I'll leave a copy of this engineer report with you so you can give it to potential buyers.  You do know you're legally obligated to tell them about known defects, right?"

[Triple J]

Agreed, that's a good move.