I just wanted to take a quick moment to share a recent experience with a client who was buying a home built in the late 50's that had not been occupied by the owner for 4 to 6 months. We had the normal home inspection done that he paid $250 to have done. There were a number of "issues" typical to an older home, but one that really caused me some concern was slow drainage of the plumbing system. Understanding the contract states buyer is responsible for cost of all inspections and that the home inspector recommended further evaluation by a plumber, I advised and buyer agreed to have plumber run camera through the line to determine potential cause of slow drainage. It cost the buyer an additional $250 to have this done, but ended up revealing that the sewer line needed replaced due to age, tree roots and deterioration. Total cost $7400. We renegotiated the price down an additional $8750 to allow for the buyer to have this and some electrical work performed after closing.

When buying an older home, be particularly diligent in inspection of the plumbing system. 

 

 

First time buyers have until December 1 but will rates stay low?
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The $8000 tax credit is good for first time buyers who buy a home between now and December 1. A first time buyer is anyone who has never owned a home or who has not owned a primary residence in the last 36 months. First time buyers are getting some… more
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In an attempt to fulfill my responsibilities as a REALTOR, consumer advocate and just a generally concerned citizen; I'm making my first - long overdue - blog posting. I'm fed up with and disgusted by the fearmongering of the national media. Sadly,… more
 
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Bart Medlock

New Albany, IN

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RE/MAX Advantage

Address: 708 Highlander Point, Floyds Knobs, IN, 47119

Cell Phone: (812) 987-6387

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Thoughts on the various topics related to the real estate market in Southern Indiana/Greater Louisville, KY, my real estate career, being married, raising children, sobriety and God only knows what else considering I'm creating this blog description after posting only 2 entries.


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