Thinking about moving to the city

[Byronazriel]

There's a few good foreclosed homes in and around Aberdeen, WA. As I said elsewhere I get a little over six hundred dollars a month. I've run the numbers, and I can afford it... if I cut down on frivolous spending.

My biggest concerns are ghosts and bugs. How can I be sure that the house I get doesn't have any... surprises?

I suppose I could hire a priest/medium, and a cleaner/exterminator... but I'm not exactly made of money. Do exterminators do ghosts?

Aberdeen is a grimy town, I know of eight motels that have/had roaches. Though two of them are in Hoquiam, one of two adjacent cities.

I do like Aberdeen because it has two good chinese restaurants (Though one is WAY too expensive, like sixty bucks for a meal for two!), a damn good pizzeria/italian restaurant, a walmart, a good theatre, a comic book store, a game store, and a conveniently located hospital. Though parts of it have that factory smell.

Here's a video tour! [youtube:8v3ytay0]http://www.youtube.com/watch?v=F6r1Rat7qew[/youtube:8v3ytay0]

I was there when Selmer's was on fire! The first real fire I ever saw!

[Whitney]

Are you being serious about ghosts?  If so, you do realize you just asked a forum full of skeptics about what to do about something they don't think is real; right?

As for bugs and other potential issues...always always always get an inspector to walk through a home and check for problems before you finalize the paperwork.

[Byronazriel]

Exactly, that means you're a neutral party! You're not ghosts (I hope...), and you're not hauntees. This means that you can provide a different point of view than mine.

I'm mostly woried about the bugs though, I know a few cleansing rituals. Are inspectors expensive?

[Whitney]

Are inspectors expensive?

I think a home inspection is a few hundred dollars; if you can't afford that you shouldn't be buying a home.  You also shouldn't buy if you can't keep up a savings account for rainy day funds (stuff on homes eventually break even if you take good care of them).  You'll also have to carry insurance (required for any home bought on loan) and pay property tax each year.

Homes are a good investment but are also a big responsibility....the reason they are foreclosed is most likely because someone who wasn't ready decided to buy a house.

The above reasons are why we have been waiting to buy.

[Byronazriel]

I can afford a few hundred... Though it would be pushing it, and I'd have to either skip rent or heavily cut my food budget. And I wouldn't be able to buy comic books and video games.

I know a few guys who are janitors, is there any chance that they could do it for twenty bucks instead, or do you have to have an inspection license?

[Tank]

I can afford a few hundred... Though it would be pushing it, and I'd have to either skip rent or heavily cut my food budget. And I wouldn't be able to buy comic books and video games.

I know a few guys who are janitors, is there any chance that they could do it for twenty bucks instead, or do you have to have an inspection license?

Skimp on a house inspection before purchase and you could be fucked over so badly you won't know what hit you. You'll need a loan to buy and the loan company will require you to insure the building and if you go for a shoddy inspection (assuming the loan company don't insist you use somebody reputable they know) and at some point get a big problem the loan company will turf you out as soon as look at you.

As Whitney says, if you can't afford the inspection you can't afford the house!

[Byronazriel]

Would it be cheaper to just build a house on an empty lot? My family has a few, and my grandfather would probably let me have one... And giving him my '83 cougar would all but assure that! (It needs a new transmition anyway, or was it a carborater... one of those expensive enginey parts anyway!)

[Whitney]

Would it be cheaper to just build a house on an empty lot?

Probably not...materials and contractors aren't cheap.

Have you thought about a mobile home on one of those empty lots?  As long as utilities are already run to the property that would be an economical option and you could build later when you are in a better position to do so.

[Whitney]

I know a few guys who are janitors, is there any chance that they could do it for twenty bucks instead, or do you have to have an inspection license?

janitors don't know anything about construction...so no.  You want a licensed inspector or don't buy the house...it's really that important.

[Byronazriel]

I suppose a mobile home would work, but it wouldn't be ideal. Do they need to be inspected too?

As long as it keeps the bugs and rain out, then I'd be okay with it. Thanks for all the help!

[Whitney]

I suppose a mobile home would work, but it wouldn't be ideal. Do they need to be inspected too?

If you buy a used mobile home you'd want to at least get a construction-savvy friend to check it out for you; but they aren't a big enough investment (last I checked you can get one used for about the price of a low/moderate range new car) to require a professional home inspection.  

New mobile homes are factory inspected so you don't have to hire one.

[Byronazriel]

I know a stonemason...

[Whitney]

I know a stonemason...

He's probably good enough to help select a used mobile home....not that there is any stone in a mobile home but his work should make him at least somewhat familiar with how things should go together and what proper wiring looks like.

[KDbeads]

As someone in the process of buying a home right now....
You probably can't get a loan for a mobile home (used or new) unless you have 20% down and have a credit score of about 680.  That's the BS we've run into the last couple of months, almost all the places we like have been double wides.  You can't even get a loan as a first time home buyer unless you have a score of 620.  They've changed ALL the lending rules since the last time I bought a place.  Most loans for little down (3.5%) are going to be FHA loans and require a licensed home inspection BEFORE you sign the loan.  There aren't any 0% loans out there right now unless your score is 700 or so.  Also, most realtors aren't touching foreclosures due to the obscene amount of paperwork required at this time.  AND it's best to get a loan pre-approval before starting to search, in this housing mess you will not be taken seriously without it.

And more info/$$ to give you a heads up:
You have to have a minimum of 2 months bank statements for any lender.
Same for your check stubs, along with 2 years tax info.
You'll need $500 for earnest to put a contract on a house.
A decent inspector will be more than happy to walk through the place WITH you and point out the issues, seriously, you want to be with them to see it all.  And they run from $300 to $500 up front.
You also need an appraisal, some lenders pay for this, others don't, add another $300 up front just in case.  If the house appraises less than asking you will have to pay the difference plus a down payment to get it.  Trust me, this one just lost us a perfect place this week, I am so not happy.
You also have to get home owners insurance for the lender to be willing to give you a loan.  This is normally paid out of your escrow account which is part of your home loan.
Also, if you are in a flood zone you have to pay flood insurance, have to, no exceptions, to get the loan.  This is normally out of pocket and can cost anywhere from $100 to $600 depending on the area.
Then there's a survey for the title company, some states require a new survey every so many years, some don't, but expect to have to have one on a foreclosure due to title transference issues.  This can run anywhere from $300 to $800 or more depending on the size of the lot and the issues that come with it.

And if you are going for a FHA backed loan...... the house has to be in GOOD repair.

Expect to spend at least a grand before you even sign on a loan.

[KDbeads]

Also, the 'estimated' payment amount on those mortgage calculators DO NOT add in your escrow, PMI, and something else I can't remember off hand so add about 30% more to the number you get off those calculators.  For example, my current mortgage is $758 for interest and principle but add in the PMI, escrow (which changes every spring due to my property taxes and insurance, it jumped $50/month this year), and whatever that other thing is and I pay $1035.  And this is only with a fixed interest rate, if you get an ARM (adjustable rate mortgage) all bets are off and your monthly payment can be all over the freaking place.