1978 home, things I should look for?

[94form2000z]

foundation would be my number one concern. I know a foundation guy if you need one.

I agree, although wiring replacement is costly as hell.

[03mustangdude]

Will definatly get a property inspector if my offer is accepted but i've had really bad luck submitting offers. Gone from as low as 10k under list and to 10k over can't get any to accept.

[Real Estate Nate]

Will definatly get a property inspector if my offer is accepted but i've had really bad luck submitting offers. Gone from as low as 10k under list and to 10k over can't get any to accept.

hire another agent to reprepesent you

[DallasSleeper]

Asbestos was banned in 1978, but builders were allowed to use up existing inventory. Have that shit checked, for real. You don't want any of that bullshit.

They still used it until 86 (89 by some reports)

This shit is an expensive nightmare to remove if any is found.

[ceyko]

Will definatly get a property inspector if my offer is accepted but i've had really bad luck submitting offers. Gone from as low as 10k under list and to 10k over can't get any to accept.

Well, I won't get into agent problems - but make sure your offer paperwork says you can change it.

A 1978 home can have 101 MAJOR freaking issues. Asbestos is one of them and frankly, I'd just walk from the home if that is the case. Otherwise - I'd hire specific trades to inspect the other aspects. I did it on my current home and was happy to do so. The general inspector did a great job and found various things, but the specific trades (specifically did plumbing, HVAC and foundation) provided great feedback and generally gave me peace of mind.

Hell, to be honest it was a complete waste of money in my case. However, them spending time here checking stuff was CHEAP in comparison to finding out some major problem later. In a 1978 home, you need to give yourself every possible advantage for negotiating - and if you buy the home - for having a head start on what to address first.

I will say though, in the NE - my Dad bought a slightly older home that yours and basically remodeled the whole thing over 20 years (he is a builder too) and it's a great home. It was built very well, just needed changes, updates, walls knocked out...etc.

[03mustangdude]

One of the other hud houses I bid on last week sold for less than I bid on anyone know why that would be the case?

List: 80k
bid:85k
Sold: 84600

[War Machine]

I agree, although wiring replacement is costly as hell.

only reason I said foundation was due to the age of the home hes looking at. From what I have been told is homes built from mid 70's to the 90's homes have terrible slab foundations. Im not a foundation guy, but I have heard that from a few people.

That being said, I would rather own a 70's home over a house built in the late 90's early 00's. A lot of crap was slapped together with the building boom.

[Ratt]

One of the other hud houses I bid on last week sold for less than I bid on anyone know why that would be the case?

List: 80k
bid:85k
Sold: 84600

Did your offer have any conditions?

[TexasT]

hire another agent to reprepesent you

Nate has good advice as usual. If he isn't willing to go as far as Arlington, I can get you in contact with the agent we used. She gave us good service and we were comfortable with her. We looked for almost a year. I also have a great loan guy if you are interested.

We looked at many, offered on few and bought one. It isn't easy and might not even be fun but buying homes is a lot of work for all concerned.

[03mustangdude]

Did your offer have any conditions?

no conditions found out that offer was before closing costs and after close to 90k???

Mine was 85k before closing costs which still doesn't make any sense.

[The King]

Asbestos was banned in 1978, but builders were allowed to use up existing inventory. Have that shit checked, for real. You don't want any of that bullshit.

It was never actually banned and remains in use today, thanks primarily to NAFTA. Houses built from 1982 onward are less likely to have it however than those built prior to then.