Manny/Patrick Posted March 22, 2021 Share Posted March 22, 2021 Hello, as of yesterday I’m pleased to inform that my wife and I have are going to be first time homeowners. Anything I should know when doing inspections, the loan we were accepted is a FLNA(sp?) loan. Any advice would be grand 2 Quote Link to comment Share on other sites More sharing options...
Dome Posted March 22, 2021 Share Posted March 22, 2021 Congrats man! Its a lot of work, but a lot of freedom as well. Quote Link to comment Share on other sites More sharing options...
BayRaider Posted March 22, 2021 Share Posted March 22, 2021 Congratulations! Quote Link to comment Share on other sites More sharing options...
theJ Posted March 22, 2021 Share Posted March 22, 2021 1 hour ago, Manny/Patrick said: Hello, as of yesterday I’m pleased to inform that my wife and I have are going to be first time homeowners. Anything I should know when doing inspections, the loan we were accepted is a FLNA(sp?) loan. Any advice would be grand Hire a good inspector. Call a few before you hire one, and interview them. Ask about their experience, what their focus will be during the inspection, and what kind of report they plan to deliver. I've had one bad inspector, and one that was so-so. Frankly i found more things than they did, and showed them so they could include it in their report. But they can find some big things to help you avoid a very costly mistake. 2 Quote Link to comment Share on other sites More sharing options...
kingseanjohn Posted March 22, 2021 Share Posted March 22, 2021 Congrats! I don't have anything personally to share -- I hope to join the club next year possibly. But I suggest checking out these posts on Reddit: Buyer's Closing Costs 101 Hidden Costs of Buying a Home Additional Costs When Buying a Home Quote Link to comment Share on other sites More sharing options...
vike daddy Posted March 31, 2021 Share Posted March 31, 2021 the most useful thing an inspection report can do for you is to give you leverage to lower the selling price. and keep in mind the interest saved on that amount too, so it adds up to something significant. fun fact: vd bought his first house for $17,000, with $1,000 down. 2 Quote Link to comment Share on other sites More sharing options...
skywindO2 Posted March 31, 2021 Share Posted March 31, 2021 On 3/22/2021 at 11:12 AM, Manny/Patrick said: Hello, as of yesterday I’m pleased to inform that my wife and I have are going to be first time homeowners. Anything I should know when doing inspections, the loan we were accepted is a FLNA(sp?) loan. Any advice would be grand Definitely get an inspection, I hope you had that contingency in your offer! Your realtor or lender should have inspector recommendations, otherwise ask friends and family who recently purchased for their inspector recommendation. Quote Link to comment Share on other sites More sharing options...
skywindO2 Posted March 31, 2021 Share Posted March 31, 2021 49 minutes ago, vike daddy said: fun fact: vd bought his first house for $17,000, with $1,000 down. I didn't find this fun at all. 3 Quote Link to comment Share on other sites More sharing options...
theJ Posted March 31, 2021 Share Posted March 31, 2021 1 hour ago, skywindO2 said: I didn't find this fun at all. Someday, you'll tell your kids about your first house purchase. And it'll be 5x less than current rates. Inflation hits hard. 1 Quote Link to comment Share on other sites More sharing options...
TENINCH Posted April 1, 2021 Share Posted April 1, 2021 Fun fact for first time home owners. Property Taxes suck! Quote Link to comment Share on other sites More sharing options...
TENINCH Posted April 1, 2021 Share Posted April 1, 2021 On 3/31/2021 at 8:54 AM, vike daddy said: the most useful thing an inspection report can do for you is to give you leverage to lower the selling price. and keep in mind the interest saved on that amount too, so it adds up to something significant. fun fact: vd bought his first house for $17,000, with $1,000 down. I know caves and huts go for way less than that. 1 Quote Link to comment Share on other sites More sharing options...
MWil23 Posted April 1, 2021 Share Posted April 1, 2021 @ramssuperbowl99 because I'm petty and thought you should see this 1 Quote Link to comment Share on other sites More sharing options...
theJ Posted April 2, 2021 Share Posted April 2, 2021 21 hours ago, TENINCH said: Fun fact for first time home owners. Property Taxes suck! Yeah, they do. The worst part being that even after you pay off the house, you owe those for the rest of your life. Quote Link to comment Share on other sites More sharing options...
scar988 Posted April 2, 2021 Share Posted April 2, 2021 On 3/31/2021 at 8:54 AM, vike daddy said: fun fact: vd bought his first house for $17,000, with $1,000 down. Fun fact, this was in 1927. Quote Link to comment Share on other sites More sharing options...
Shanedorf Posted April 2, 2021 Share Posted April 2, 2021 4 hours ago, theJ said: Yeah, they do. The worst part being that even after you pay off the house, you owe those for the rest of your life. WTF ? Who came up with that system and why weren't WE consulted on it ? This is an outrage !!! 2 Quote Link to comment Share on other sites More sharing options...
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