Archive for March, 2007
Although the market has slowed in LosAngeles, I ended up in a multi-offers situation. How unlucky is can you be. After a couple rounds of offers and counter offers, the seller and I agreed upon a price.
Next step, the home inspection. It’s important to get a good inspector who will do a thorough job for you. The home inspection is This is your when you get to know your prospective new home and the best and sometimes last opportunity to get out of the contract. I was lucky, my loan agent Arlyn Mendoza hooked me up with a great home inspector.
David Arce with Orbit Home Inspections went over the house with a fine tooth comb. He spent nearly 6 hours — inspecting, photography and taking notes. This was not your typical perfunctory home inspection. When David was done I had a pretty good idea of what I was getting into — the house flat out needed a lot of work. Here is the list of requested repairs
- Service heater
- System did not function properly at time of the inspection
- There appears to be a duct going from the furnace to the front bedroom – need to confirm that it is either operational or properly isolated from the unit
- Fix open circuit box
- Fix open circuit box
- Foundation Elements
- Atypical cracks may require reinforcement to maintain structural integrity of the foundation
- Several exposed foundations elements show significant termite and dry rot damage, which will need to be replaced.
- Inspection states there is potential for significant undetected damage on key foundation elements
- Inspection of the home interior reveals several areas where significant settling has occurred which are likely to require reinforcement
- toilet – currently runs constantly
- Install GFI circuit
- Tub repair drain leak
- Improper installations may allow moisture to get behind the shower unit
- Code requires an exhaust fan or functional window
- Inspection/service for slow drain
– Front Bedroom
- Door between bedroom and back bonus room needs to be re-hung
- Missing door – replacement door and installation
- Install GFI circuits at sink and laundry
- Service/replace garbage disposal
- Ensure dryer vent is properly attached
- Install covers on all exposed outlets
- Gas Range – service burners which are not operational and replace grates in LHS oven
- Credit for a dishwasher
- Need to replace rear door
- Installation of vent for stove hood fan
- Window Repairs
- All windows in house need a significant amount of work to make them serviceable – some don’t open, while other do not have latches.
- Exterior element display significant dry-rot and some termite damage
- Un-permitted room’s windows are unsafe need to be replaced (city may not authorize permits since addition does not meet code requirements)
- Repair work required on front and rear over-hangs
- Report states roof is “reaching the end of its serviceable life.”
- Non-permitted room roof shows signs of leakage at the point where it connects to the main house – work need to ensure damage does not encroach into the main house (discussion with city planner indicate that the un-permitted addition does not meet code; and cannot be brought into compliance without significant modifications)
- Inspection of floor around heater suggests that current flooring is installed directly on top of the sub-floor indicating original hardwood floor did not exist or were removed
In total I asked for ~$12K in credits toward necessary repairs. The buyer ended up agreeing to $6K, but this house needs a lot of work. I am not sure I got the good end of the deal here.